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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According to a recent report from Reuters, some Japanese aluminium buyers have agreed to pay $79 per tonne of premium to a global producer for July to September shipments. Compared to the previous quarter premium, it is down by 3.7 per cent, attributing to the lower demand due to the COVID-19 pandemic. In the April-June quarter, the premiums that Japan had agreed to pay were $82 per tonne. Japan is Asia’s largest aluminium importer. The premium it agrees to pay each quarter for primary aluminium shipments over the benchmark London Metal Exchange (LME) cash price sets the pricing tone for the region. The downfall in premiums for the September quarter marks the fourth straight quarterly decline and the lowest since the October-December quarter in 2016. While some Japanese buyers have agreed...
The Environmental Defence Society has reportedly filed Declaration Proceedings in the Environment Court today, July 6, against New Zealand Aluminium Smelters Limited concerning the storage of over 10,000 tonnes of ouvea premix at sites on Kana Street, Mataura, Southland. New Zealand Aluminium Smelter while processing aluminium produces a by-product called dross. Dross can then be subjected to an aluminium recovery and recycling process, which generates one of the outputs called ouvea premix, a potential resource for fertiliser manufacturing and steel production. “We are concerned that if the stored ouvea premix gets wet, it produces ammonia gas which is toxic to humans. It can also harm aquatic life. There are residences nearby as well as a Te Kohanga Reo child care centre,” said EDS CEO...
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 decreased 4,000 tonnes from last Thursday July 2 to 715,000 tonnes as of Monday July 6. 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 8,000 tonnes and 1,000 tonnes from Thursday to stand at 225,000 tonnes and 110,000 tonnes. Inventories in Hangzhou stood at 100,000 tonnes, down 1,000 tonnes. Inventories of aluminium in Tianjin and Chongqing remained unchanged at 57,000 tonnes and 4,000 tonnes. Stocks in Nanhai and Gongyi stood at 163,000 tonnes and 49,000 tonnes, an increase...
The US dollar was hemmed into a narrow range on Friday, while European stocks closed lower as concern over a spike in US coronavirus infections tempered the optimism arising from upbeat economic data out of the US, China and the eurozone. Three-month LME aluminium fell 0.74 per cent to end at a session-low of US$ 1,612 per tonne on Friday, July 3. It advanced 0.91 per cent on the week, marking the third straight weekly gain. It is likely to move between US$1,600-1,640 per tonne today. As of Friday, July 3, LME aluminium cash (bid) price and LME official settlement price declined from US$ 1601.50 per tonne to US$ 1581.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1614 per tonne after decreasing by US$ 7.5 per tonne from the previous day. Dec 21 bid price and Dec 21...
Hindalco Industries Ltd has reduced its aluminium products price after hiking it the price of the same products on July 1. With effect from Saturday July 4, Hindalco aluminium ingots price now stands at INR 136,750 per tonne, a decrease of 2.15% or INR 3,000 per tonne from INR 139,750 per tonne on July 1. The company is now selling its wire rods and billets at INR 147,850 per tonne and INR 143,850 per tonne with effect from Saturday, 4 July 2020, marking a growth of INR 3,000 per tonne from July 1. 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...
Vedanta cuts its aluminium products price after raising it for the second time in a row. With effect from Saturday 4 July 2020, the prices of some aluminium ingots are in the range of INR 135,500-148,500 per tonne, a decrease of 2.17% or INR 3,000 per tonne from INR 138,500-151,500 per tonne on July 1. With the latest cut, Vedanta’ billet now stands at INR 143,500 per tonne on July 4, a drop of INR 3,000 per tonne or 2.05% from INR 146,500 per tonne on July 1. 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...
The Prime Minister of Canada Justin Trudeau on 3 rd July’20 stated that he was still unsure whether he would travel to Washington D.C. next week to celebrate a new North American trade treaty. The issue of US tariffs on aluminium is holding him back is the most possible reason. Mexico's President Andres Manuel Lopez Obrador, who is due to meet U.S. President Donald Trump next week, has said he would like Trudeau to attend. Andres Manuel Lopez Obrador, President of Mexico, who is due to meet U.S. President Donald Trump next week, has said: “He would like Trudeau to attend.” Trudeau said: "We're still in discussions with the Americans about whether a trilateral summit next week makes sense. We're concerned about the proposed issue of tariffs on aluminium and steel that the Americans have...
After 20 plus years of distinguished service at Vedanta’s various metal businesses, he is moving on for a new journey in a different industry with a new role to play. He has spent almost 9 years in the aluminium business of Vedanta. Preliminary to the aluminium segment, he has been with the mining and metal giant’s Copper and Zinc business. While bidding adieu to Vedanta, Mr Puneet said: “Vedanta is a phenomenal company and it has been a most fulfilling and transformational professional experience of my career.” The professional career of Puneet has always been filled with new leanings, networking and success stories. Mr Puneet Jagatramka is also associated with Aluminium Association of India (AAI) as Vice President, has been industriously contributing to the aluminium industry,...
The US dollar started the week on a negative footing and edged lower on Monday, June 29, and extended the downfall on Wednesday, July 1. Three-month LME aluminium closed higher on Monday, June 29, for the second consecutive session, ending at US$ 1,613 per tonne, up 0.97 per cent on the day. On Tuesday, June 30, it hovered in a broad range between US$1,615-1,626 per tonne and ended higher on the day at US$1,618 per tonne. However, on the next day, the dollar index touched a one-week low of 97.025 before closing at 97.153. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, June 29, at US$ 1589 per tonne, an increase of US$ 7 per tonne from US$ 1582 per tonne on Friday, June 26. Continuing to grow, the prices on Tuesday, June 30, stood at US$ 1602...
RUSAL, a leading global aluminium producer, has released its annual Sustainability Report, outlining the Company's sustainable development strategy. The report also includes information on measures taken to reduce its carbon footprint and emissions, social policy, efforts to develop the regions where it operates, investment in technology and environmental innovations, labor protection and other data. "The course towards sustainable development is one of the driving factors shaping the business model of RUSAL. We see that the measures the Company is taking to reduce its carbon footprint have been positively received by the investment and consumer communities who have been guided by reliable indicators published in the Sustainability Report," said Evgenii Nikitin, CEO of RUSAL. The Company...
National Aluminium Company Limited (NALCO) has increased its aluminium products price for third time in a row. With effect from Wednesday July 1, NALCO's aluminium ingots price stood at INR 140,150 – 143,650 per tonne, registering a hike of INR 100 or 0.07 per cent from INR 140,050-145,550 per tonne on June 20. The prices of aluminium billets rose by INR 100 to INR 143,600- 146,250 per tonne on July 1, from INR 143,500-146,150 per tonne on June 20.The aluminium wire rods price came in at INR 144,750-148,000 per tonne. 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...
Three-month LME aluminium rebounded from a session-low of US$1,613 per tonne to a more than three-week high of US$1,630 per tonne before ending at US$1,624 per tonne. As of Thursday July 2, LME aluminium cash (bid) price stands at US$ 1601.50 per tonne, LME official settlement price stands at US$ 1601.50 per tonne; 3-months bid price stands at US$ 1621.50 per tonne, 3-months offer price is US$ 1621.50 per tonne; Dec 21 bid price stands at US$ 1720.50 per tonne, and Dec 21 offer price stands at US$ 1720.50 per tonne. The LME aluminium opening stock stood at 1633775 tonnes. Live Warrants totalled 1472775 tonnes, and Cancelled Warrants were 161000 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1614.34per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for...
Hindalco Industries Limited has increased its aluminium products prices by again 1 per cent for the second consecutive time, with effect from July 1, 2020. With the latest hike, the company’s aluminium ingot price has come in at INR 139,750 per tonne compared to INR 138,000 per tonne on June 27, indicating a hike of INR 1,750 per tonne or 1.27 per cent over the week. Hindalco’s aluminium wire rod price and billet price, on the other hand, are respectively standing at INR 150,850 per tonne and INR 146,850 per tonne, marking growth of INR 1,750 per tonne or 1.17 per cent and 1.21 per cent from INR 149,100 per tonne and INR 145,100 per tonne on June 27. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange....
In an effort to bring in transparency and accountability in pricing and quality of imports, the Government of India will put in place import monitoring systems for aluminium. According to sources, the Ministry of Mines is at an advanced stage of the process to bring in the import monitoring systems. The manifesto is to monitor the import of 43 aluminium items under Chapter 76 HS codes out of a total of 91 items. The ministry has already held consultations with various stakeholders for this purpose. Monitoring of 43 items of aluminium will cover 99.08% of the total value of aluminium imported, which stands at INR 38,166 crore in FY19. India imports aluminium scrap worth over INR 17,000 crore. It is not very clear if the monitoring system will include aluminium scrap, which is mostly...
The Financial Stability Committee of the Central Bank of Iceland anticipates that GDP to decline by 8% in 2020 as per its recent quarterly report. It notifies that while Iceland’s three commercial banks are in a strong capital and liquidity position, however, there is the risk that the Central Bank’s easing of policy instruments could lead to an increase in asset prices and an increase in the likelihood of systemic risk within the economy. Following this obligation, the FSC has published its newest quarterly report, which forecasts that GDP will contract by 8% this year. The report notes that despite the effects of the COVID-19 pandemic, Iceland’s financial system is “on sound footing,” with private sector balance sheets have grown stronger in recent years, reinforced by deleveraging and...
ALUMINIUM, the world's leading trade fair for the aluminium industry, will now take place May 18 to 20 due to the coronavirus pandemic. The event was scheduled to be held in Düsseldorf from 6 to 8 October. The accompanying ALUMINIUM Conference will also be delayed into the next year. The aluminium industry and international supply chains have been impacted due to the Covid-19 pandemic. The demand for aluminium has declined due to pandemic. “Together with exhibitors and partners, we had long hoped to be able to get the industry back on track for October. Unfortunately this hope has not been fulfilled. The vast majority of exhibitors have therefore expressed the wish that ALUMINIUM should be rescheduled to next year,” said Michael Freter, Managing Director of organiser Reed Exhibitions...
The Victorian Greens, the Victorian state member party of the Australian Greens, has reportedly come up with a green COVID-19 recovery package, which consists of funding to upgrade Portland Aluminium smelter to allow it to act as a “reverse battery” while being powered by wind and solar. The Victorian Greens has suggested the Victorian government to reprioritise its subsidies of about $200 million for the Portland aluminium smelter and apply the funding to upgrade the smelter to be used as a “reverse battery”. This upgrade, according to the Victorian Greens, will allow Portland Smelter to use energy for aluminium production when there is a dearth of wind and solar energy supply. This is also believed to allow the smelter to strategically reduce its energy use when the energy supply-demand...
Tom Dobbins, President and CEO, The Aluminium Association on 1 st July’20 delivered the communication in response to the execution of US-Mexico-Canada Agreement: “USMCA’s implementation is a historic achievement, and we greatly appreciate the efforts of the U.S., Canadian and Mexican governments in ensuring this trade agreement guarantees robust, fair and rules-based trade of aluminium and aluminium products between the three countries." "Furthermore, the new Rules of Origin that incentivize regional sourcing of aluminium for auto parts and vehicles will drive demand for U.S. aluminium manufacturers in the years to come.” Dobbins also stated that the integrated North American aluminium supply chain has been a crucial element of the U.S. aluminium industry’s ability to invest and grow over...
