Europe's aluminium industry is facing mounting pressure from rising carbon costs, shifting trade policies and limited willingness among buyers to pay premiums for low-carbon metal. Yet, despite a series of crises since the Covid pandemic, producers remain committed to maintaining their presence in Europe and investing in decarbonisation, said Paul Voss, Director General of European Aluminium. In an exclusive interview with Fastmarkets at Aluminium Düsseldorf, Voss described the European aluminium industry's condition as bruised but resilient. He highlighted concerns over the EU Emissions Trading System (ETS), the potential inclusion of indirect (Scope 2) emissions under the Carbon Border Adjustment Mechanism (CBAM) and the treatment of aluminium scrap in carbon accounting. Reflecting on...
The London Metal Exchange (LME) aluminium price graph depicted a faltering market picture. Declines over the November 2 close were reported across the pricing, contract, and inventory segments. The LME alumina Platts price remained stable at the session close. The LME aluminium cash bid as well as offer prices dipped by 0.42 per cent. The bid slipped to USD 3,081 per tonne from USD 3,094 per tonne, while the offer eased to USD 3,082 per tonne from USD 3,095 per tonne , down 0.61 per cent day-on-day. Explore: Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid contracted by 0.64 per cent to USD 3,040 per tonne from USD 3,059.5 per tonne. The offer...
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The A00 aluminium ingot price has jumped by RMB 210 per tonne on Thursday, July 30, to stand at RMB 14,990 per tonne, marking the fourth consecutive hike this week, found the Shanghai Metals Market. Limited supplies and fair consumption of primary aluminium ingots, resulting in incessant drops in primary aluminium inventories in China market, could be attributed to the uptrend in A00 aluminium ingot price. The average prices today are expected to range between RMB 14,970 per tonne and RMB 15,010 per tonne, with spot contract to be traded at a premium price of RMB 40-80 per tonne, down by RMB 40 per tonne from the previous day. In Chongqing, the A00 aluminium ingot price has grown by RMB 215 per tonne to hover at RMB 14,880 per tonne, while that in Foshan, Hangzhou, and Shenyang has...
Basil Walker, a Queenstown entrepreneur stated that he is standing as an independent candidate in the Invercargill electorate at the September’20 general election on a platform of trying to save the Tiwai aluminium smelter from closing. Walker said: “The main issue facing the smelter was the high transmission costs it faced.” The Queenstown entrepreneur desired a New Zealand entity, yet to be determined, to acquire the smelter and buy the Transpower transmission lines, which take electricity from the Manapouri power station to the smelter, so the transmission costs could be reduced by tens of millions of dollars. “That would bring the smelter into profitability,’’ he said. As per Walker in 2017 he conveyed the idea to Rio Tinto and “they never said go away’’. “In the past couple of...
Rio Tinto reported results for the first half of 2020. The company reported underlying EBITDA of $9.6 billion, 6% lower than 2019 first half, primarily due to lower prices for aluminium and copper, with EBITDA margin of 47%. Net earnings stood at $3.3 billion. That was down 20% from $4.1 billion in the first half of 2019. The company declared an interim dividend of $2.5 billion, equivalent to 155 US cents per share. Revenues for the first six months of the year stood at $19.4 billion, 7% lower than 2019 first half, mainly due to lower prices and volumes for copper and lower aluminium prices. Rio Tinto Chief Executive J-S Jacques said “We have been agile and adapted our way of working, to deliver another resilient performance while navigating the new and ongoing challenges of dealing with...
Finland is often ranked number one for being the happiest country in the world, as the Finns have high incomes, health care for all, and a top education system. The major industries that contribute highly to the economy of Finland are metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing. The Northern European nation’s aluminium ingot export during 2017-19 has been revealing a consistent growth as the export volume stood at 46,180 tonnes and revenue generations remained to $55.42 million. The projected aluminium ingot export for 2020 has been marked at 19,542 tonnes and the income to reach $25.98 million. When the evaluated export and earnings of 2020 get summed with the existing three years it...
The latest data from the Aluminium Association of Canada reveals that Canada's exports of standard P1020 aluminium to the United States have decreased in July from the previous month. The Association estimates the exports to drop by about 30 per cent at the end of the month. So, from 155,000 tonnes in June, Canada's exports to the US in July are likely to come in at 112,000 tonnes. This downward trend started in June with a month-on-month fall of 16 per cent. So, over the last two months, the total downfall in primary aluminium exports from Canada to the US is estimated to cross 40 per cent, indicating a recovery in demand for Value Added Products (VAP). Production at aluminium smelters in North America shifted from Value Added Products to P1020 during the initial months of 2020 in...
Nonferrous metals on the LME mostly increased, and the US dollar index halted its continuous declines and advanced 0.13 per cent. Three-month LME aluminium strengthened 0.91 per cent to end at US$ 1,725.50 per tonne on Tuesday, July 28, after hitting its highest in nearly five months at US$ 1,728 per tonne earlier in the session. It is likely to move at US$ 1,700-1,740 per tonne today. Both LME aluminium cash (bid) price and LME official settlement price, as of Tuesday, increased by US$ 9.5 per tonne to stand at US$ 1671 per tonne. 3-months bid price and 3-months offer price stood at US$ 1709 per tonne, up by US$ 8.5 per tonne from US$ 1700.50 per tonne on July 27. Dec 21 bid price and Dec 21 offer price came in at US$ 1793.50 per tonne compared to US$ 1784.50 per tonne on the previous...
The leading global aluminium producer, Rusal, has released its operating results for the second quarter of 2020. The company reported that its aluminium production in Q2 2020 dropped by 1.4 per cent from the earlier quarter to 927,000 tonnes, Siberian smelters representing 93 per cent of the output. Rusal’s aluminium sales, on the other hand, increased by 6.8 per cent quarter-on-quarter to 976,000 tonnes in Q2 2020, amid the downfall in production. However, the sales of value-added products declined by 14 per cent Q-o-Q to 363,000 tonnes, demonstrating a decline of VAP share in total sales mix to 37 per cent versus 46 per cent in Q1 2020, owing to the COVID-19 pandemic. Backed on the diversified client base, Rusal successfully adjusted the regional sales geography in line with the new...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to trend lower over the weekend. Inventories stood 699,000 tonnes as of Monday July 27, down 3,000 tonnes from last Thursday July 23. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi, Gongyi and Hangzhou dropped by 3,000 tonnes, 3,000 tonnes and 1,000 tonnes to stand at 213,000 tonnes, 35,000 tonnes and 96,000 tonnes on Monday July 27 2020. Stocks in Nanhai, Tianjin and Linyi remained unchanged at 174,000 tonnes, 56,000 tonnes and 5,000 tonnes. Inventories of aluminium in Shanghai increased by 5,000 tonnes to 117,000 tonnes while stock in...
Prebaked anode exports by China totalled 796,500 tonnes in the first half of 2020, up 23.4 per cent from a year earlier, found the latest customs data. The exports were barely hit by the COVID-19 outbreak as producers increased shipments to overseas to minimize the buildup inventory. However, for the second half of the year, SMM expects China’s exports of prebaked anode to slow down amid a decline in orders as some of the foreign aluminium smelters have reduced their capacity in response to the bleak market due to the continued spreading of coronavirus. Customs data showed that China’s prebaked anode exports in the month of June stood down month-on-month by 30.95 per cent and year-on-year by 12.78 per cent to 114,000 tonnes. Canada, Russia, and Malaysia were the top three importers in...
Three-month LME aluminium rose 0.77% to end at a new more than four-month high of US$1,710 per tonne on Monday in choppy trading. It is likely to move at US$1,690-1,730 per tonne today. As of Monday July 27, LME aluminium cash (bid) price stands at US$ 1661.50 per tonne, LME official settlement price stands at US$ 1661.50 per tonne; 3-months bid price stands at US$ 1700.50 per tonne, 3-months offer price is US$ 1700.50 per tonne; Dec 21 bid price stands at US$ 1784.50 per tonne, and Dec 21 offer price stands at US$ 1784.50 per tonne. The LME aluminium opening stock stood at 1668500 tonnes. Live Warrants totalled 1388025 tonnes, and Cancelled Warrants were 280475 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1702.76 per tonne. SHFE Aluminium Price Trend Benchmark...
The major players of the Indian Aluminium industry body have solicited a top tax refund rate of 12-13% under a suggested export scheme, emulated to the 2% receivables under the existing one. The Aluminium Association of India adds up Hindalco Industries, Bharat Aluminium Company, National Aluminium Company and Jindal Aluminium Ltd among its members. The Indian Aluminium producers lobby pledged the commerce and industry ministry for an initial 5% refund rate, eventually going up to 12-13%, adducing the high burden of un-rebated taxes and duties, which are about 15% of production cost. India’s top aluminium exports incorporate unalloyed and alloyed aluminium ingots, billets, slabs, wire rods and plates. However, the nation has exported aluminium products worth $5.5 billion in the previous...
National Aluminium Company has increased its aluminium ingot and aluminium product prices with effect from Friday, July 24, following a cut of nearly 2 per cent with effect from July 18. With the latest hike, Nalco’s aluminium ingot price has come in at INR 143,700-147150 per tonne, up INR 2,950 per tonne or 2.09 per cent from INR 140,750-144,250 per tonne. Nalco is now selling its aluminium billets at INR 147,100-149,750 per tonne, while its aluminium wire rods are being currently sold at INR 147150-151500 per tonne. Like any other major Indian aluminium producers, Nalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange, which in the last one week during July 20-23 recorded back-to-back rises from US$ 1621 per tonne to US$ 1661 per tonne. So,...
Tiberius has joined Aluminium Stewardship Initiative as a new General Supporter member. This brings the total number of ASI Members to 128. “Tiberius are very excited to be joining the Aluminium Stewardship Initiative (ASI). The ASI has already made great progress in establishing the ASI Performance and Chain of Custody Standards, yet as we all know, there is still more work to be done. Being amongst the most relevant distributors of aluminium in Europe, Tiberius is looking forward to working with ASI and using our in-depth knowledge and consumer relationships to help drive forward the industry shift needed for a sustainable low-carbon future within the aluminium supply chain,” Oliver Jones – Head of Sustainability. Tiberius is diversified commodity investor and manager. For more than a...
Aluminium Bahrain B.S.C. (Alba) has released financial results for the second quarter of 2020 and the first half of the year. The leading aluminium producer’s (ex-China) performance was impact by lower LME price, which was partially offset by higher sales’ volume. The company reported a gross profit of BD21.6 million (US$57.6 million) in Q2 2020, up by 41 per cent from BD15.4 million (US$40.9 million) during the same period last year. With this, the company’s gross profit in the first half of the year totalled BD55.2 million (US$146.8 million), up by 241% Y-o-Y from BD16.2 million (US$43.2 million). Alba reported a total comprehensive loss of BD19.8 million (US$52.7 million) in H1 2020, up by 4 per cent, compared to a total loss of BD19.1million (US$50.9 million) in H1 2019. In Q2 2020,...
The US dollar index touched a new 22-month low on Friday, July 24, while the safe-haven yen rose to its highest in more than four-months, as investors reacted to simmering US-China tensions, a continued rise in coronavirus cases as well as hopes for another US stimulus package. Three-month LME aluminium fluctuated to close 0.61 per cent lower at US$ 1,697 per tonne on Friday, posting a weekly gain of 2.04 per cent. It is likely to continue to move at US$ 1,680-1,720 per tonne today. On Friday, July 24, both LME aluminium cash (bid) price and LME official settlement price edged lower at US$ 1654.50 per tonne from US$ 1661 per tonne. 3-months bid price and 3-months offer price stood at US$ 1692 per tonne, down by US$ 4.5 per tonne from US$ 1697.50 per tonne on July 23. Dec 21 bid price and...
The Indonesian Mining Association (IMA) appealed that an increase in value-added or in the mining sector still needed to work on seriously, especially for bauxite commodities. Djoko Widajatno, Executive Director, IMA revealed bauxite is a mineral that does not have much reserves compared to other minerals such as nickel. Although currently, the industry that absorbs Alumina and aluminium finished products is not widely available domestically. Seeing this prospect, Djoko stated, the construction of a processing and refining plant needs to be a priority and accelerated. Moreover, the aluminium industry is a basic industry that needs to be developed. He added: "The prospect of downstream is very good to support the industry. By looking at the needs of aluminium for the building materials...
Hindalco has hiked its aluminium ingot and aluminium product prices by INR 2,000 per tonne or 1.42 per cent with effect from Friday, July 24, following a cut last week on July 17. With the latest increase in price, Hindalco is selling its aluminium ingot at INR 143,250 per tonne, compared to INR 141,250 per tonnes on July 17. Hindalco’s aluminium wire rod price has been increased to INR 154,350 per tonne from INR 152,350 per tonne, while the price of its aluminium billet has been raised to INR 150,350 per tonne from INR 148,350 per tonne. Like any other major Indian aluminium producers, Hindalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange. In the last one week during July 20-23, the three-month aluminium futures price of aluminium on LME...
The prevention measures from harmful sediment flowing into the Flathead River from the closed down Columbia Falls Aluminium Company have been commenced. This is the first remediation project to take place at the Columbia Falls Aluminium Company Superfund site. John Stroiazzo, CFAC Project Manager said: “The Flathead River is slowly eroding the banks of two ponds used by the now-defunct aluminium company. The ponds contain harmful sediment.” "We don’t think that these ponds will last another two years." This has been the major reason; the U.S. Environmental Protection Agency approved the work ahead of schedule. The two-year project, which will begin this fall, also incorporates the removal of dams that will return the Flathead River to its original channel. Various researches have...
