LME aluminium prices softened on September 22, with the cash and three-month contracts declining from the previous trading session, while LME aluminium opening stocks also edged lower on September 23. On September 22, the LME aluminium cash bid price stood at USD 3,240 per tonne, down 0.66 per cent from USD 3,261.5 per tonne on September 21. The cash offer price was USD 3,242 per tonne , down 0.63 per cent from USD 3,262.5 per tonne. The LME aluminium 3-month bid price stood at USD 3,263.5 per tonne on September 22, compared with USD 3,272.5 per tonne on September 21, representing a decline of 0.28 per cent. The 3-month offer price fell 0.27 per cent to USD 3,264 per tonne from USD 3,273 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
SHFE aluminium closed at RMB 24,245 per tonne, edging up 0.02 per cent. The price stood above the MA10 (24,236) but was capped by the MA5 (24,386), still well above the MA30 (24,084) and MA60 (23,729.92). The medium-term bullish structure remained intact, while short-term moving average resistance was evident. On the MACD indicator, DIF stood at 102.44 and DEA at 125.85, with the high-level death cross persisting. The green bar narrowed to -46.80 (previous day -50.36), indicating slightly weakening bearish momentum. Trading volume shrank to 52,300 lots, reflecting a strong wait-and-see sentiment in the market. The suggested core trading range for SHFE aluminium is 24,000-24,600. LME aluminium closed at USD 3,266 per tonne, up 0.21 per cent. The price was slightly below the MA5 (3,275.6)...
Grow with
AL Circle
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...
FACE welcomes the EN+/RUSAL ‘Green Aluminium Vision’, setting out the Group’s commitments to lead the industry into the low carbon economy by developing a new asset class of ‘Green Aluminium’. The proposal presented by Lord Barker, EN+ Executive Chairman, is calling out for a low carbon ‘green’ aluminium to spur EU’s green Covid-19 recovery package and climate transition strategy, giving global need for sustainable development that must exclude non-market subsidies giving way for high-carbon capacity increase. The EN+ Group ambitious “Green Aluminium Vision” advocates in particular for the smart use of EU trade policy in support of competitiveness and sustainability. Current EU import tariffs on unwrought aluminium are inefficient, confusing and counter-productive; customs codes applied...
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...
Vedanta hiked its aluminium products price on Wednesday, July 1, marking the second consecutive rise in price. With effect from Wednesday 1 July 2020, the prices of some aluminium ingots are in the range of INR 138,500-151,500 per tonne, a rise of INR 1,750 per tonne or 1.28% from INR 136,750-149,750 per tonne on June 27. With the latest hike, Vedanta’ billet now stands at INR 146,500 per tonne on July 1, an increase of INR 1,750 per tonne or 1.21% from INR 144,750 per tonne on June 27. 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...
The US dollar slipped on Wednesday, July 1, in choppy trading, with the market having a modest appetite for risk-taking amid generally upbeat US data and improving European economic numbers. The dollar index, which tracks the greenback against basket of its peers, touched a one-week low of 97.025 before closing at 97.153. Three-month LME aluminium hovered in a broad range between US$ 1,615-1,626 per tonne before closing the day higher at US$1,618 per tonne, continuing the price rally. As of Wednesday, July 1, LME aluminium cash (bid) price and LME official settlement price, however, decreased from US$ 1602 per tonne to US$ 1593.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1614 per tonne after declining by US$ 7.5 per tonne from the previous day. Dec 21 bid price...
En+ has called on the EU to eradicate tariffs on low-carbon imports of aluminium, the lightweight metal used in everything from cars to wind turbines. EU needs to invest almost €500bn a year to meet its climate goals, Greg Barker, the group’s executive chairman, said: “There was a huge opportunity to speed up the energy transition by embracing green aluminium”. “Why to turn off Europe’s coal-fired power plants if the finished goods we buy or manufacture are sucking in high-carbon, coal-produced aluminium from the other side of the world?” said Lord Barker, a former UK energy and climate change minister En+ controls Rusal, the largest aluminium producer outside China, and its push for a separate customs code for low-carbon aluminium comes as Germany, which has unveiled sweeping measures to...
Hydro won the Aluminium Industry Leadership Award, the Breakthrough Solution of the Year (Hydro CIRCAL) and the Metals Company of the Year in the S&P Global Platts Award 2020, the leading independent provider of information and benchmark prices for the commodities and energy markets. “I am very proud that we managed to win these awards, especially the recognition for Hydro CIRCAL which is something that we have work so hard on for this last year. This is a true testament to the Hydro organization and the work that is being done across the company,” said Hilde Merete Aasheim, President & CEO of Hydro. The program's independent panel of judges gave the follow rational for the awards in the respective categories: Aluminium Industry Leadership Award (Hydro) “Our panel of judges was impressed...
The Prime Minister of Canada, Justin Trudeau stated that it will hurt US and Canadian economies if the Trump administration imposes new tariffs on Canadian aluminium. On 29 th June’20, Trudeau said: “We have heard, obviously, the musings and proposals from the US that perhaps there need to be more tariffs on aluminium.” Trudeau pointed out that “what we simply highlight is: the S needs Canadian aluminium”. The Prime Minister said: “If they put tariffs on Canadian aluminium, they’re simply increasing the costs of inputs, necessary inputs, to their manufacturing base which will hurt the American economy. Again, we see that our economies are so interlinked that punitive actions by the US administration end up hurting Americans the same way they end up hurting Canadians.” He added: “We will...
The US dollar edged lower after rose on Tuesday. LME and SHFE base metals ended mixed overnight. LME aluminium grew 0.31% and aluminium gained 0.72%. Three-month LME aluminium hovered in a broad range between US$1,615-1,626 per tonne. It ended higher on the day at US$1,618 per tonne. As of Tuesday June 30, LME aluminium cash (bid) price stands at US$ 1602 per tonne, LME official settlement price stands at US$ 1602 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$ 1722 per tonne, and Dec 21 offer price stands at US$ 1722 per tonne. The LME aluminium opening stock stood at 1642600 tonnes. Live Warrants totalled 1472775 tonnes, and Cancelled Warrants were 169825 tonnes. LME aluminium 3-months Asian...
