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 US dollar rallied from a four-week low against a basket of rivals on Thursday. LME aluminium fell nearly 1% and SHFE aluminium advanced 0.3%. Three-month LME aluminium fell on Thursday after notching its highest since March 13 at US$1,695.5 per tonne. It ended 0.96% lower at an intraday low of US$1,649 per tonne. It is likely to move between US$1,640-1,680 per tonne today. As of Thursday July 9, LME aluminium cash (bid) price stands at US$ 1659.50 per tonne, LME official settlement price stands at US$ 1659.50 per tonne; 3-months bid price stands at US$ 1687 per tonne, 3-months offer price is US$ 1687 per tonne; Dec 21 bid price stands at US$ 1772 per tonne, and Dec 21 offer price stands at US$ 1772 per tonne. The LME aluminium opening stock stood at 1632675 tonnes. Live Warrants...
Hindalco Industries Ltd has raised its aluminium products price for the second time in a row. With effect from Thursday July 9, Hindalco aluminium ingots price now stands at INR 140,250 per tonne, an increase of 1.45% or INR 2,000 per tonne from INR 138,250 per tonne on July 8. The company is now selling its wire rods and billets at INR 151,350 per tonne and INR 147,350 per tonne with effect from Thursday, 9 July 2020, marking a growth of INR 2,000 per tonne each from 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 are down so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected to remain under pressure due...
Canadian Prime Minister Justin Trudeau stated that he was anxious about reports that US was considering to re-impose tariffs on Canadian aluminium. On 8 th July’20, Prime Minister Justin Trudeau said: “US companies would suffer if the Trump administration hits Canadian metal imports with tariffs that lack any justification, on Wednesday.” While speaking to the reporters, Trudeau said he looked forward to congratulating US President Donald Trump on US-Mexico-Canada Agreement (USMCA) which came into force on 1 st July’20, replacing the 26-year-old North American Free Trade Agreement (NAFTA). As we had reported Trudeau did not travel to Washington on 8 th July to attend a meeting with Trump and Mexican President Andres Manuel Lopez Obrador marking the launch of the new trade deal. Prime...
According to Shanghai Metals Market survey, China’s primary aluminium production in June totalled 3 million tonnes, up 2.42 per cent year-on-year. As of June-end, there were 36.76 million tonnes of primary aluminium capacity in operation out of the existing 41.23 million tonnes per year total capacity. Data indicates that China’s primary aluminium capacity in operation was up by 180,000 tonnes month-on-month in June. Operating rates across Chinese primary aluminium producers also stood higher by 0.3 percentage point to stand at 89 per cent on improved margins that encouraged newly-commissioned and resumed capacities to ramp-up. During the first six months of 2020 (January-June), China’s primary aluminium output amounted to 18.01 million tonnes, up 2.93 per cent year-on-year. Consumption...
Bharat Aluminium Company (BALCO), a global leader in aluminium, has been endorsing sustainable development since its inception. This has been counted as one more unyielding step in this direction; BALCO has recently launched PAHAL, a plastic bag elimination program in its township amongst its employees and business partners. The company stated: “BALCO is one of the first organizations in Chhattisgarh to introduce plastic elimination program, which was taken up in association with Chamber of Commerce, Balconagar.” Environment-friendly bags were distributed among the residents as part of the drive and township residents are encouraged to use those in place of single-use plastic bags. Speaking about the initiative, Abhijit Pati, CEO & Director – BALCO, said, “‘Pahal’ is a step towards...
Alcoa Corporation, on Wednesday, July 8, released preliminary second-quarter results of 2020, which indicated that even amidst the COVID-19 pandemic, the company’s cash balance showed positive sentiment along with increased productivity and steadily growing operations. The cash balance is estimated to cross $950 million. But the revenue is expected to drop by 8 to 9 per cent from $2381 in Q1 2020 to $2100 - $2,175 in Q2, according to the information revealed. Year-on-year, the second quarter's revenue is estimated to decline by nearly 20 per cent, attributing to lower demand for aluminium value-added products. It is to be noted here that all the information is preliminary and based upon data available as of July 8. It is subject to change and finalisation based on the quarter-end closing...
The US dollar edged lower on Wednesday, July 8, as investors weighed hopes for a quick economic recovery against concerns about resurgence in the coronavirus pandemic, particularly in the US. Three-month LME aluminium scaled the highest level in four months, topping US$ 1,670 per tonne, before it pared some gains and closed the day higher at US$ 1,665 per tonne. As of Wednesday, July 8, LME aluminium cash (bid) price and LME official settlement price jumped from US$ 1596.5 per tonne to US$ 1619 per tonne. 3-months bid price and 3-months offer price stood at US$ 1651 per tonne, significantly up by US$ 21 per tonne from US$ 1630 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1743 per tonne compared to US$ 1726 per tonne. The LME aluminium opening stock...
Following the cut on Saturday, July 4, Hindalco Industries Limited has increased its aluminium ingot price with effect from Wednesday, July 8. With the latest hike, the company’s ingot price has come in at INR 138,250 per tonne compared to INR 136,750 per tonne on July 4, meaning an increase of INR 1,500 per tonne or 1.1 per cent. Hindalco is selling its aluminium wire rods and billets at INR 149,350 per tonne and INR 145,350 per tonne, respectively, up by INR, 1,500 per tonne or 1.per cent from INR 147,850 per tonne and INR 143,850 per tonne, as of July 4. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium are down by over 9 per cent so far in 2020 due to the...
Rio Tinto will start planning for the wind-down of operations and the eventual closure of New Zealand Aluminium Smelters (NZAS) following the conclusion of its strategic review which has shown the business is no longer viable given high energy costs and a challenging outlook for the Aluminum industry. Consequently, NZAS has delivered Meridian Energy notice to terminate the power contract, which will end in August 2021, when the wind-down of operations is expected to complete. The strategic review concluded that the smelter, which has made Rio Tinto an underlying loss of NZ$46million in 2019, is not economically viable due to energy costs that are some of the highest in the industry globally, coupled with a challenging short to medium term aluminium outlook. Extensive discussions with a...
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and product prices with effect from Wednesday, July 8, following two consecutive hikes on June 20 and July 1. Nalco’s aluminium ingot price has been reduced by INR 2,100 per tonne or 1.5 per cent to INR 138,050-141,550 per tonne. After the last marginal hike of INR 100 per tonne on July 1, the company’s aluminium ingot price was in the range of INR 140,150 – 143,650 per tonne. Nalco’s aluminium billet price after the latest cut has come in at INR 141,750-144,150 per tonne, down by INR 1850-2100 per tonne from INR 143,600- 146,250 per tonne, as of July 1. Nalco’s aluminium wire rod price has been decreased from INR 144,750-148,000 per tonne to INR 141,550-145,900 per tonne. Indian aluminium producers generally link...
The Prime Minister’s Office of Canada has confirmed that PM Justin Trudeau will not visit Washington, with Mexico's president this week to celebrate a new North American trade deal, after Canada louden concerns over United States aluminium tariffs. On 6 th July’20, over a phone call, Trudeau told Mexican President Andres Manuel Lopez Obrador that he expects the talks with US President Donald Trump would be successful. However, the Mexican President had urged Trudeau to join him, is due to meet Trump at the White House on 8 th July’20 on his first trip outside of Mexico since taking office 19 months ago. The Prime Minister’s office stated that Justin Trudeau will be attending cabinet meetings and a sitting of parliament in Ottawa. "We wish the United States and Mexico well at Wednesday's...
Vedanta Limited has increased its aluminium ingot and aluminium billet prices with effect from July 8, following the two consecutive cuts on July 1 and July 4. The aluminium ingot price has been raised by INR 1,250 per tonne or 1 per cent to INR 136,750-149,750 per tonne. After the last cut, Vedanta’s aluminium ingot price was in the range of INR 135,500-148,500 per tonne. With the latest hike, Vedanta's aluminium billet price has come in at INR 144,750 per tonne, up by INR 1,250 per tonne or 1 per cent from INR 143,500 per tonne, as of July 4. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange, which in the last two days recorded growth from US$ 1581.5 per tonne to US$ 1596.5 per tonne. However, the...
The US dollar inched higher against a basket of currencies on Tuesday, July 7, holding above the near two-week low hit in the previous session, as investors turned uneasy over new coronavirus flare-ups and local lockdowns in some countries. Three-month LME aluminium held onto one-month highs on Tuesday, ending flat at US$ 1,635 per tonne in choppy trading. It is likely to continue to move between US$ 1,620-1,660 per tonne today. As of Tuesday, July 7, LME aluminium cash (bid) price and LME official settlement price increased by US$ 3.5 per tonne to stand at US$ 1596.5 per tonne. 3-months bid price and 3-months offer price stood at US$ 1630 per tonne, up by US$ 4 per tonne from the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1726 per tonne compared to US$ 1725 per...
The Ghana Integrated Aluminum Development Corporation (GIADEC) has delivered an extra mileage to the fight against COVID-19 by donating hygiene items to people of Kyebi and surrounding communities of the East Akim Municipal District in the Eastern Region. The items are quantities of veronica buckets, gallons of alcohol-based hand sanitizers, disposable hand towels, nose mask and dust bins were presented to the locals as part of efforts to mitigate the spread of the novel coronavirus in the country. Mr Michael Ansah, CEO, GIADEC, recapitulated during the event that: “GIADEC’s commitment of continuous support in the fight against the virus and urged the beneficiaries to use the hygiene items judiciously.” He added: “With the outbreak of the pandemic in Ghana, we at GIADEC believe in...
Moroccan companies are part of the continuity in Ivory Coast for the works accomplished by HM King Mohammed VI. Presently, the company “Comptoir d'Aluminium de Côte d'Ivoire”, based in Abidjan, welcomes, in its workshops, ten trainees from the Multispectral Professional Training Centre Mohammed VI in Yopougon, inaugurated in November 2017 by the Sovereign, then on an official visit to the West African nation. These internships are the diversification of the agreement that the Moroccan company has just signed with the management of the Multifunctional Centre that HM the King has kindly offered to the young people of Côte d'Ivoire. Saâd El Hamzaoui, CEO, Comptoir d'Aluminium Ivory Coast: “We have received ten (10) interns in our company for three (03) months. By welcoming these young...
Aluminium stocks at three major ports in Japan- Yokohama, Nagoya, and Osaka, extended growth by 9.5 per cent or 29,500 tonnes month-on-month at the end of May, found Marubeni Corporation. At the end of April, the stocks at these Japanese ports were 309,000 tonnes, which in the next month increased to 338,500 tonnes. Aluminium stocks (in tonnes) at the three major Japanese ports in May were as follows: So, as the above chart indicates, the aluminium stocks at Yokohama port in May 2020 increased by 6,200 tonnes or 3.86 per cent month-on-month from 160,500 tonnes in April to 166,700 tonnes. Year-on-year, the stocks at Yokohama grew by 13,700 tonnes or 8.95 per cent from 153,000 tonnes. At Nagoya port, the aluminium stocks increased by 22,800 tonnes or 17.07 per cent month-on-month from...
In spite of its small size, Belgium's economy has consistently placed among the top 20 economies of the world and remains strong. The major industries that support the economy of Belgium are Metallurgy, steel, textiles, chemicals, glass, paper, and food processing are the dominant industries. Belgium is one of the world's leading processors of cobalt, radium, copper, zinc, and lead. The western European nation’s import of aluminium alloy ingot during 2017-20 remains fluctuating, although marginally. The import volume during the phase remained at 476,731 tonnes and the revenue expended stood at $808.02 million. The import for 2020 has been forecasted at 169,663 tonnes and the expenditure might stay at $276.06 million. However, when the analysed import and expenditure of 2020 gets valued...
Three-month LME aluminium advanced 1.43% to four-week highs of US$1,635 per tonne on Monday. It is likely to move between US$1,620-1,660 per tonne today. As of Monday July 6, LME aluminium cash (bid) price stands at US$ 1593 per tonne, LME official settlement price stands at US$ 1593 per tonne; 3-months bid price stands at US$ 1626 per tonne, 3-months offer price is US$ 1626 per tonne; Dec 21 bid price stands at US$ 1725 per tonne, and Dec 21 offer price stands at US$ 1725 per tonne. The LME aluminium opening stock stood at 1624775 tonnes. Live Warrants totalled 1416300 tonnes, and Cancelled Warrants were 208475 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1618.05 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$...
