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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National Aluminium Company Limited (NALCO), recorded a Net Profit of INR 138.23 crore for FY19-20. Net turnover stood at INR 8426 crore, which has been adversely impacted by about INR2900 crore due to fall in global metal prices. However, weathering the sluggishness in the international metal market and falling London Metal Exchange prices, NALCO has continued to remain profitable by successfully handling the market downturn, according to the company. The company achieved bauxite production and alumina production of 73.02 lakh tonnes and 21.61 lakh tonnes, the highest ever since company's inception. NALCO said both bauxite mines & alumina refinery has been performing beyond its installed capacity. The Aluminium metal production came in at 4.18 lakh tonnes. Shri Sridhar Patra, CMD, NALCO...
Vedanta has raised its aluminium products price after cutting the price of the same product for the second time in a row. With effect from Saturday 27 June 2020, the prices of some aluminium ingots are in the range of INR 136,750-149,750 per tonne, marking an increase of INR 3,000 per tonne or 2.24% from INR 133,750-146,750 per tonne on June 26. With the latest hike, Vedanta’ billet now stands at INR 144,750 per tonne on June 27, an increase of INR 3,000 per tonne or 2.12% from INR 141,750 per tonne on June 26. 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...
According to the International Aluminium Institute (IAI) data, primary aluminium production in West Europe stood at 284,000 tonnes in May 2020, while that in East and Central Europe came in at 351,000 tonnes. Month-on-month, the output in West Europe grew by 2.53 per cent from 277,000 tonnes and that in East and Central Europe increased by 2.63 per cent from 342,000 tonnes. However, the production in both West Europe and East and Central Europe in April stood lower by 3.48 per cent and 3.39 per cent from 287,000 tonnes and 354,000 tonnes in March. In February, the productions were at 263,000 tonnes and 331,000 tonnes in West Europe and East and Central Europe, respectively, meaning the output in February grew by 9.13 per cent and 6.95 per cent. In January, the primary aluminium production...
The United States Treasury Department on 25 th June’20 imposed sanctions on nine organisations allegedly operating in or providing materials to Iran’s metals sector, counting aluminium producers among other metal producers and some of their foreign subsidiaries and sales agents. The sanctions are the fresh effort by the Donald Trump administration to expand pressure on Iran. The Treasury Department claimed Iran’s government used revenue from metals exports to fund its Islamic Revolutionary Guard Corps and other malign activities in the Middle East. Steven Mnuchin, Treasury Secretary said in a statement on 25 th June’20: “The United States remains committed to isolating key sectors of the Iranian economy until the revenues from such sectors are refocused toward the welfare of the Iranian...
Gravita India Limited announced consolidated results for the full year and Q4 2020. In Q4 2020, sales volume increased by 34% in Aluminium division. Consolidated revenues increased by 44% Y-o-Y to lNR 379.26 Cr. Net profit rose to stand at INR 12.6 I Cr against loss of INR 0.58 Cr last quarter due to efficient working of manufacturing facilities based in Africa. Mr. Rajat Agrawal, Managing Director, Gravita India Limited said, "During FY 2020 the company has been able to achieve excellent figures due to process optimization and focused approach towards product & market mix. Futther the newly established Lead & Aluminium recycling faci lity in Tanzania performed rationally well. We expect the momentum of the growth to be continued in the comin g quarters." For the full year, consolidated...
Hindalco Industries Limited has again cut its aluminium prices today, on June 26, just after reducing them yesterday by INR 2000 per tonne. This marks the second back-to-back day in a week that Hindalco has trimmed its aluminium prices. Today, the company has cut the prices by INR 1750 per tonne, bringing the aluminium ingot price to INR 135,750 per tonne, with effect from Friday, June 26. With the second straight cut, Hindalco’s aluminium wire rod price has come in at INR 146350 per tonne, down by INR 1,750 per tonne or 1.18 per cent from INR 148100 per tonne on June 25. The prices of Hindalco’s billets, on the other hand, are now standing at INR 142,350 per tonne after being cut by INR 1,750 per tonne from INR 144,100 per tonne. The Indian aluminium producers generally link prices of...
Vedanta has reduced its aluminium products price for the second time in a row. With effect from Friday 26 June 2020, the prices of some aluminium ingots are in the range of INR 133,750-146,750 per tonne. This marks a drop of INR 2000 per tonne or 1.47% from INR 135,750-148,750 per tonne on June 25. With the latest decline, Vedanta’ billet now stands at INR 141,750 per tonne on June 26, down INR 2,000 per tonne or 1.39% from INR 143,750 per tonne on June 25. 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...
An investigative report published by the Reuters News Agency on Wednesday, June 24, claimed that Iran had been secretly producing aluminium powder for using in missile programme. On the basis of testimony from a former Iranian government official and documents, former senior Tehran official shared with Reuters that Iran’s Revolutionary Guards Corps had been running a facility for the past five years to produce the military-grade material. The facility is located near the city of Jajarm in North Khorasan province in northeast Iran, near the country’s largest deposit of bauxite. The report states that Iran is secretly producing aluminium powder amidst international sanctions designed to block its efforts to acquire advanced weapon technology. Aluminium powder is produced from bauxite and is...
On 25 th June, Piyush Goyal, Indian Minister of Commerce and Industry said: “Will be talking to USTR Robert Lighthizer in the next few days to quickly wrap up initial aspects of the proposed trade deal, which is under negotiations.” “India and the US are negotiating a trade deal to iron out differences and promote two-way commerce.” The Commerce and Industry Minister stated that he is in regular dialogue with US Trade Representative (USTR) and US Commerce Secretary Wilbur Ross. Piyush Goyal said: “I think Mr Wilbur Ross and I will be meeting with businessmen of both the countries sometime in the middle of July and going to be talking to my US counterpart also in the next few days… to quickly wrap the first immediate aspects of the trade deal that is already in discussion and look forward...
Benchmark aluminium price on the London Metal Exchange dropped 1.31 per cent to US$ 1543.50 per tonne on Thursday, June 25, from US$ 1564 per tonne on Wednesday, June 24. As of Thursday, June 25, LME aluminium cash (bid) price and LME official settlement price slipped by US$ 20.5 per tonne to stand at US$ 1543.50 per tonne. 3-months bid price and 3-months offer price stood down by US$ 23 per tonne to US$ 1563.50 per tonne, while Dec 21 bid price and Dec 21 offer price came in at US$ 1666 per tonne compared to US$ 1688.50 per tonne on Wednesday, June 24. The LME aluminium opening stock totalled 1637750 tonnes, up by 23,650 tonnes from June 24. Live Warrants stood at 1456050 tonnes, while Cancelled Warrants 181700 tonnes. LME aluminium 3-months Asian Reference Price hovered at US$...
Fitch Ratings has affirmed Chinese aluminium producer China Hongqiao Group Limited's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-'. The Outlook remains Stable. Hongqiao's ratings indicate its position as one of the world's largest aluminium smelters, with a competitive cost base braced by sizeable economies of scale and low input costs. Hongqiao's ratings are constrained by a possible surcharge on its captive power-generation assets, which could significantly increase its production costs. The Stable Outlook exhibits the expectation that Hongqiao's industry-leading profitability will allow it to maintain net leverage at a level that is comparable with its rating, even against the current backdrop of weakened domestic economic activity and depressed commodity prices. A...
Unifor, the general trade union in Canada and the largest private-sector union in Canada, believes that threats by the American administration to impose new rates on Canadian aluminium are "intimidation tactics" and implores the Trudeau government not to give in. There is a possibility of re-imposing Canadian aluminium tariffs if Canada declines to cut exports south of the border. On 24 th June’20, Unifor has urged the Canadian Government to stand strong against what it calls a “disinformation campaign”. The American Primary Aluminum Association (APAA), that represents Century Aluminum Company and Magnitude 7 Metals LLC, demanded tariffs of 10%, contended that an increase in aluminium coming from Canada has caused prices to fall. Jerry Dias, National President, Unifor wrote a letter to...
According to the latest data revealed by the International Aluminium Institute (IAI), the GCC countries in May 2020 produced 496,000 tonnes of primary aluminium, compared to 483,000 tonnes in April. This means the GCC countries saw a month-on-month rise of 13,000 tonnes or 2.69 per cent in aluminium production in May. However, GCC's primary aluminium production in April stood down month-on-month by 16,000 tonnes or 3.21 per cent, following growth in March. From 473,000 tonnes in February, the aluminium output in GCC countries grew by 26,000 tonnes or 5.50 per cent to amount to 499,000 tonnes in March. In January, the production was 498,000 tonnes, meaning a month-on-month decline of 25,000 tonnes or 5.02 per cent in February. The above data indicates that GCC countries saw a downfall in...
China’s giant aluminium production sector looks like being untouched by the COVID-19 crisis, according to an observation by a columnist for Reuters. The country’s annualised production has increased by 718,000 tonnes over the first five months of 2020, as per the latest estimate from the International Aluminium Institute (IAI), bringing its share to the world aluminium output to 57 per cent in May. But in contrast, the annualised aluminium production in the rest of the world has decreased by 612,000 tonnes over the same period (January-May), owing to restricted movements and low international prices, which have led many smelters to close or curtail their productions. China is already the world’s largest aluminium producer and it dominance over the world is less likely to not increase in...
Czech Republic’s largest sector is the automotive industry. The Czech industry produces mainly electrical, electronic and optical equipment, as well as cars, transport vehicles and machines. Most of the produced components are exported abroad - an important revenue factor for the Czech Republic. The structure of industrial production has changed in the last 20 years. The town Mladá Boleslav, a Czech town in the Central Bohemian region north-east of Prague, is the home of the main plant of the car manufacturer Škoda, the Czech Volkswagen subsidiary. The nation’s aluminium ingot importation during 2017-19 has been recorded at 803,596 tonnes and the revenue expended stood at $1.42 billion. The projected import for 2020 has remained to 255,177 tonnes only and the revenue expenditure might...
North America’s primary aluminium production stood at 346,000 tonnes in May 2020, 6.13 per cent higher year-on-year. The output was 326,000 tonnes in May 2019. On a month on month basis, the output rose by 3.9 per cent from April’s production of 333,000 tonnes. In the first five months of 2020, the production stood 4.65 per cent higher than the same period last year. The output totalled 1.665 million tonnes, from 1.591 million tonnes in the first five months of 2019, according to the latest data showed by the International Aluminium Institute (IAI). In 2019, the output stood at 3.809 million tonnes, an increase of 0.93 per cent from 3.774 million tonnes in 2018. Primary aluminium production in South America decreased by 15.12 per cent year-on-year, but up 2.82 per cent month-on-month to...
Vedanta has cut its aluminium products price on Thursday after raising it by more than 1% on June 18. With effect from Thursday 25 June 2020, the prices of some aluminium ingots are in the range of INR 135,750-148,750 per tonne, marking a decline of INR 2000 per tonne or 1.45% from INR 137,750-150,750 per tonne on June 18. With the latest decline, Vedanta’ billet now stands at INR 143,750 per tonne, a decrease of INR 2000 per tonne or 1.37% from INR 145,750 per tonne on June 18. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium have been declining due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of Production (CoP)...
Benchmark aluminium price on London Metal Exchange dropped 0.86 per cent to US$ 1564 per tonne on Wednesday, June 24, from US$ 1577.5 per tonne on Tuesday. As of Wednesday June 24, LME aluminium cash (bid) price stands at US$ 1564 per tonne, LME official settlement price stands at US$ 1564 per tonne; 3-months bid price stands at US$ 1586.50per tonne, 3-months offer price is US$ 1586.50 per tonne; Dec 21 bid price stands at US$ 1688.50 per tonne, and Dec 21 offer price stands at US$ 1688.50 per tonne. The LME aluminium opening stock stood at 1614100 tonnes. Live Warrants totalled 1427950 tonnes, and Cancelled Warrants were 186150 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1591.61per tonne. SHFE Aluminium Price Trend The market will be closed on Thursday and...
