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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New Zealand’s political party Social Credit has called the government to intervene and acquire Rio Tinto’s Tiwai Point aluminium smelter and convert it to a State-Owned Enterprise (SOE), issuing non-tradable shares to every New Zealand citizen. Social Credit Party has also advised that Govt. should offer just $1 for the purchase and then plough money into installing advanced emission control equipment to stop aluminium getting into the air and the food chain and cleaning up the environment and the leftover waste products. The plant could also be reformed to lift it to the world-class standards. The investment could be realized very easily and would not involve any cost to taxpayers, by using a process similar to the $60 billion the Reserve Bank is creating currently to buy government...
Vedanta has strengthened its Advisory Board with the addition of Jitendra Kumar Dadoo and Prakash Kumar Singh. The company announced the appointments as it readies for the next phase of growth post-Covid. Jitendra Kumar Dadoo, who retired in the rank of Secretary to Government of India in December, 2017 has been appointed as a Senior Advisor. He served in several key positions, including Chairman, Delhi Civil Supplies Corporation, Additional Secretary and Joint Secretary, Department of Commerce, Government of India. He will work closely with the Corporate Strategy team and Hindustan Zinc’s management committee to drive key business initiatives. Dadoo said, “Over the years, Vedanta has made very significant contributions to the industry and the nation. I am excited about joining Vedanta at...
The US dollar edged lower on Monday. LME aluminium inched up less than 0.1% and SHFE aluminium advanced 0.6%. Three-month LME aluminium jumped to a fresh four-month high of US$1,705 per tonne on Monday. It closed just 0.06% firmer at US$1,690 per tonne. It is likely to move between US$1,670-1,710 per tonne today. As of Monday July 13, LME aluminium cash (bid) price stands at US$ 1664.50 per tonne, LME official settlement price stands at US$ 1664.50 per tonne; 3-months bid price stands at US$ 1695.50 per tonne, 3-months offer price is US$ 1695.50 per tonne; Dec 21 bid price stands at US$ 1779 per tonne, and Dec 21 offer price stands at US$ 1779 per tonne. The LME aluminium opening stock stood at 1674900 tonnes. Live Warrants totalled 1435350 tonnes, and Cancelled Warrants were 239550...
Piyush Goyal, Commerce and Industry Minister, Govt. of India on 13 th July’20 stated that certain sectors have been spotted with vast potential for India to slash its import dependence, encourage exports and endorse domestic manufacturing. The Minister stood for 12 sectors; aluminium industry is incorporated among the recognized sectors. Mr Goyal added: “COVID-19 pandemic has taught a big lesson that over-dependence on certain geographies can cause a lot of difficulties in the time of stress.” While addressing the AGM of Bombay Chamber of Commerce, Piyush Goyal said: “In our ways, we have identified sectors where import substitution or export potential is there in a big way and I am sure that we can all work together to make this happen. We are looking at more sectors and I would urge all...
Following the three consecutive hikes from RMB 14,320 per tonne to RMB 15,320 per tonne, the A00 aluminium ingot price has recorded a sharp decline today, July 14, of RMB 420 per tonne to stand at RMB 14,900 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 14,880 per tonne and RMB 14,920 per tonne, with spot contract to be traded at a premium price of RMB 20 per tonne. Among the major Chinese markets, Wuxi has seen the highest decrease in primary aluminium ingot price by RMB 515 per tonne to RMB 14,905 per tonne. In Shenyang, Hangzhou, and Tianjin, the A00 aluminium ingot price has plunged by RMB 455 per tonne, RMB 450 per tonne, and RMB 440 per tonne to stand at RMB 14,815 per tonne, RMB 14,950 per tonne, and RMB 14,840 per tonne,...
The time has come to share with you all the performance metrics of the second edition of our flagship e-Magazine, which was the fourth quarterly e-Magazine, “Aluminium LeaderSpeak 2020” . We are overwhelmed to reveal that the magazine has reached 104 countries across the world, marking the total global views of 33,937 and hits of 139,469 in a little more than three months. In the era of advanced digital media when every outcome is measurable and transparent, we are delighted to discover how our fourth quarterly e-Magazine has created a buzz on the social media. While on Facebook, it has achieved 15,639 reach , on Twitter and LinkedIn, it has secured 2,190 and 3,586 reach , respectively. The average time spent by a user on the magazine is over 12 minutes , and the direct reach has crossed...
Iran's production of aluminium ingots stood at 101,195 tonnes during the first three months of the current Iranian year (March 20-June 20), an increase of 563% compared with the same period last year, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Iran’s flagship aluminium producer Iran Aluminum Company (IRALCO) contributed 48,086 tonnes of the total output. The output records a 5% growth year-on-year. Hormozal Aluminum Company produced 21,791 tonnes, which was a 179% rise on the year. Almahdi Aluminum Company’s production came in at 18,188 tonnes, up 146% year-on-year. The output from South Aluminum Company (SALCO) stood at 8,103 tonnes. Iran Alumina Company produced 5,027 tonnes. Iran has an estimated aluminium nameplate capacity...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, were little unchanged over the weekend. Inventories stood 712,000 tonnes as of Monday July 13, unchanged from last Thursday July 9. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi and Shanghai increased by 1,000 tonnes and 2,000 tonnes from Thursday to stand at 217,000 tonnes and 111,000 tonnes. Inventories in Hangzhou and Nanhai stood at 101,000 tonnes and 175,000 tonnes, up 1,000 tonnes and 4,000 tonnes. Primary aluminium stocks in Gongyi and Linyi dropped by 7000 tonnes and 1,000 tonnes to stand at 40,000 tonnes and 6,000 tonnes. Inventories of...
The moment Tiwai Point aluminium smelter shutdown news got publicized, ideas cropped up from manufacturing of Solar Panels to attracting Elon Musk to erect a massive Tesla battery Gigafactory. On 9 th July’20, Rio Tinto announced its planning for the eventual closure of New Zealand Aluminium Smelters following a strategic review. The expected date for the closure is 2021 and it would direct loss of 1000 jobs and another 1600 jobs indirectly connected to the smelter. Dr Anna Berka, Lecturer in management, entrepreneurship and innovation at Massey University said: “New Zealand had years to plan for the closure but the Government still seemed to have been caught out, and there did not seem to be a transition plan in place for employees.” ”It’s the dependency, and the leverage, therefore,...
Stocks on Wall Street were mostly higher on Friday, while the dollar slipped on Friday, July 10, as market sentiment was supported hopes of a potential vaccine for the novel coronavirus that outweighed concerns about the surge in infections in the US and around the world. The US currency posted its largest weekly percentage loss against a basket of major currencies in a month. The three-month LME aluminium rose 2.43 per cent to end at US$ 1,689 per tonne on Friday, July 10, recovering from Thursday’s loss and posting a weekly gain of 4.78 per cent. Last week’s percentage increase was the biggest in more than two years and marked the fourth straight week of gain. Today, it is likely to move between US$1,670-1,710 per tonne. As of Friday, July 10, LME aluminium cash (bid) price and LME...
Hindalco Industries Limited has further expanded the price hike of its aluminium ingot and aluminium product for the third consecutive day, with effect from Friday, July 10. With the latest hike, Hindalco’s aluminium ingot price is now standing at INR 143,500 per tonne, up by INR 3,250 per tonne or 2.32 per cent from INR 140,250 per tonne on July 9. Hindalco’s aluminium wire rod price is at INR 154,600 per tonne, registering a rise of 2.15 per cent or INR 3,250 per tonne from INR 151,350 per tonne on the previous day. The price of the company’s aluminium billets is hovering at INR 150,600 per tonne, also up by INR 3.250 per tonne or 2.2 per cent from INR 147,350 per tonne. Like any other major Indian aluminium producers, Hindalco links its aluminium prices to the three-month futures of...
National Aluminium Company (NALCO) has increased its aluminium ingot price sharply by INR 5,400 per tonne or 3.9 per cent with effect from Friday, July 10, following the cut on Wednesday, July 8, to INR 138,050-141,550 per tonne. Hence, the company’s aluminium ingot price is now hovering at INR 143,450-146,950 per tonne. The prices of aluminium billets and aluminium wire rods have also been raised on July 10. Nalco’s aluminium billets price is now ranging between INR 146,900-149550 per tonne, up by INR 5,150-5400 per tonne or nearly 3.7 per cent from INR 141,750-144,150 per tonne, as of July 8. Nalco’s aluminium wire rods price, on the other hand, is now at INR 146950 – 151300 per tonne, also up by INR 5,400 per tonne or 3.8 per cent from INR 141,550-145,900 per tonne. Indian aluminium...
The Vedanta’s Jharsuguda plant has boosted preventive measures to safeguard its employees, families and business partners against the deadly COVID-19. The company is working in close coordination with the Jharsuguda District Administration to ensure business continuity with limited manpower and resources. CN Singh, CEO, Vedanta Ltd., Jharsuguda says, “The health and safety of our employees, families, business partners and communities are of utmost import to us. We are in strict adherence to all guidelines and protocols of the land, and will continue to use our experiences and learning from the pandemic to safeguard our people to the best of our abilities.” The company has tied up with the Kalinga Institute of Industrial Technology (KIIT), Bhubaneswar, for COVID-19 testing. All travel from...
India and the US are expected hold a meeting on 14 th July’20 to strengthen bilateral trade, with commerce and industry minister Piyush Goyal and US commerce secretary Wilbur Ross arranged to join in for discussions through a video conference, as per our sources. The limited trade deal between the two nations has been in the works for a few months now, as per our reports earlier, is dubious at this moment as both the states are fighting against COVID-19 epidemic. The bilateral trade discussion is coming up at a very vital time when India is solidifying a thorough strategy to target non-essential and sub-standards imports, explicitly from China. The India-US CEOs Forum is also expected to hold a meet on 14 th July’20 to further boost their engagement. There has been no official...
Vedanta hikes its aluminium products price for the third time in a row. With effect from Friday 10 July 2020, the prices of some aluminium ingots are in the range of INR 142,250-155,250 per tonne, an increase of 2.34% or INR 3,250 per tonne from INR 139,000-152,000 per tonne on July 9. With the latest hike, Vedanta’ billet now stands at INR 150,250 per tonne on July 10, a rise of INR 3,250 per tonne or 2.21% from INR 147,000 per tonne on July 9. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium have been declining due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of Production (CoP) in the fourth quarter of FY20 by...
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 week. Inventories decreased 7,000 tonnes from last Thursday July 2 to 712,000 tonnes as of Thursday July 9. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi and Shanghai decreased by 17,000 tonnes and 2,000 tonnes from Thursday to stand at 216,000 tonnes and 109,000 tonnes. Inventories in Hangzhou stood at 100,000 tonnes, down 1,000 tonnes. Stocks in Nanhai and Gongyi stood at 171,000 tonnes and 47,000 tonnes, an increase of 11,000 tonnes and 2,000 tonnes from last Thursday. Primary aluminium stocks in Linyi dropped by...
A00 aluminium ingot price has recorded a sharp jump by RMB 230 per tonne to stand at RMB 14,700 per tonne on Friday, July 10, according to Shanghai Metals Market. The average prices are expected to range between RMB 14,680 per tonne and RMB 14,720 per tonne, with spot contract to be traded at a premium price of RMB 100-140 per tonne. This sharp growth in A00 aluminium ingot price could be attributed to the hike in primary aluminium demand among downstream producers and the continued fall in social inventories. As of July 9, the primary aluminium inventories stood at 712,000 tonnes after expanding the week-on-week fall to 7,000 tonnes from the decline of 3,000 tonnes a week ago. In Hangzhou, the A00 aluminium ingot price has soared by RMB 285 per tonne to RMB 14,815 per tonne, followed by...
Vedanta hikes its aluminium products price for the second time in a row. With effect from Thursday 9 July 2020, the prices of some aluminium ingots are in the range of INR 139,000-152,000 per tonne, an increase of 1.65% or INR 2,250 per tonne from INR 136,750-149,750 per tonne on July 8. With the latest hike, Vedanta’ billet now stands at INR 147,000 per tonne on July 9, a rise of INR 2,250 per tonne or 1.55% from INR 144,750 per tonne on July 8. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium have been declining due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of Production (CoP) in the fourth quarter of FY20 by...
