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)...
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ALRO S.A., one of the largest vertically integrated aluminium producers in Europe, is reportedly celebrating its 55th anniversary by being committed to the employees, partners, and clients for over the last five decades and standing as one of the strong pillars for the Romanian economy all through the years. ALRO started operating in 1965 and now has two divisions – primary and processed aluminium. After constantly advancing its technologies, ALRO has reached a production capacity of 265,000 tonnes of electrolytic aluminium per annum, while its cast-house capacity has reached 325,000 tonnes per annum. In a year, the company produces 100,000 tonnes of flat-rolled aluminium. ALRO has invested more than US$ 7000 million since privatization in technology and environmental protection. 'The...
The non-alloyed aluminium ingot export of Azerbaijan has been reflecting with a very strong rise during 2017-19, as the total export volume stands at 68,848 tonnes and revenue earning posted was $135.30 million. The estimated export volume for 2020 has been analysed at 20,876 tonnes and the revenue earning to remain at $32.50 million. When the analysed export volume and earning gets summed up with the previous three years it displays 98,248 tonnes and $167.80 million. Azerbaijan’s export of non-alloyed aluminium ingot in 2017 remained at 16,179 tonnes and expenditure stood at $33.55 million, whereas in 2018 the country’s non-alloyed aluminium saw growth by 29.03%, as the export jumped to 20,876 tonnes and the foreign revenue earnings also rose to $47.30 million. In 2019 the export of the...
Aluminium Bahrain B.S.C (Alba), the world’s largest aluminium smelter ex-China, announced a historical milestone as its smelter achieved 23 million working-hours without any Lost Time Injury (LTI) on Monday 29 June 2020. Alba’s Chief Executive Officer Ali Al Baqali said: “A strong Safety culture is built over time; it is never given. Our pro-active commitment and uncompromising approach toward Safety has helped us achieve 23 million working-hours without any Lost Time Injury (LTI) for the first time in our soon-to-be Golden Jubilee of operations. I thank our employees and our contractors for making this achievement possible. As we approach the hot summer months, we must be more Safety-Conscious to ensure the Safety and well-being of all our people.” The company received in 2020...
According to a recent report, India has started contemplating various measures to minimise the aluminium imports as metal shipments from China have marked a sharp hike. Ministry of Mines has formed an Inter-Ministerial Committee (IMC) to examine ways to trim aluminium imports and prop up domestic smelters to substitute overseas supply. As per the report, the government departments in New Delhi are discussing possible measures to restrict cheap and low-quality Chinese products, in line with the rising border tensions between India and China. China accounts for 16 per cent of the metal imports to India. Other countries that supply the metal to India are the United States, Malaysia, the United Kingdom, and the United Arab Emirates. According to a survey, more than 60 per cent of India’s...
The US dollar started the week on a negative footing and edged lower on Monday. Market sentiment was lifted as the European Union is preparing to open its borders to travellers from 14 countries after months of lockdown. Three-month LME aluminium closed higher for the second consecutive session, ending at US$ 1,613 per tonne, up 0.97 per cent on the day. As of Monday, June 29, LME aluminium cash (bid) price and LME official settlement price increased from US$ 1582 per tonne to US$ 1589 per tonne. 3-months bid price and 3-months offer price stood up by US$ 9.5 per tonne to US$ 1607 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1706.50 per tonne compared to US$ 1699 per tonne on Friday, June 26. The LME aluminium opening stock totalled 1648000 tonnes. Live Warrants stood...
Dutch aluminium producer Damco Aluminium Delfzijl Coöperatie U.A., Delfzijl, Aldel, has set foot in an agreement with the operator of a local solar farm which will intensify its capability to source energy completely from renewable sources. Ecorus developed its solar farm on an industrial site in Farmsum owned by local construction firm Gebroeders Borg. The agreement with Aldel will make the company taking the entire 4.5 MW peak output from the solar farm to execute its ten-year plan to shift entirely too renewable energy. Aldel, a major electricity consumer in its own right has a considerable role to play in supporting efforts by the Netherlands electricity grid to create a more dynamic, flexible and adaptable grid that can accommodate a more distributed model of energy supply. This is...
More than 15 CEOs and other senior executives representing the entire aluminium industry value chain in the United States sent a letter to U.S. Trade Representative Robert Lighthizer on 25 th June’20, calling for continued quota-free Section 232 tariff exemptions for aluminium in North America. Last year, the Donald Trump administration wisely removed these tariffs amid U.S.-Mexico-Canada Agreement (USMCA) negotiations. The USMCA is slated to enter into force next week on 1 st July. The letter, whose signatories represent companies from the Aluminium Association's Board of Directors, comes after recent claims of a “surge” of primary aluminium imports from Canada into the U.S. The Aluminum Association previously released U.S. government data demonstrating that current import levels are...
Hindalco Industries Ltd has raised its aluminium products price after cutting it by more than 1% on June 26. With effect from Saturday June 27, Hindalco aluminium ingots price now stands at INR 138,000 per tonne, an increase of 2.03% or INR 2,750 per tonne from INR 135,250 per tonne on June 26. The company is now selling its wire rods and billets at INR 149,100 per tonne and INR 145,100 per tonne with effect from Saturday, 27 June 2020, marking a growth of 1.88% and 1.93% from 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 declined by more than 14% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected...
Shanghai Metals Market found further downfall, although slower, in Chinese primary aluminium ingots inventories over the past three-day Dragon Boat Festival holiday. According to the data, the inventories across eight major consumption areas, including SHFE warrants, decreased 4,000 tonnes from last Wednesday, June 24, to stand at 718,000 tonnes, as of Monday, June 29. Last week, on June 24, the primary aluminium stocks had shrunk 32,000 tonnes week-on-week to come in at 722,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: Since the decline in primary aluminium ingots inventories has not touched upon all the major Chinese markets today, the stocks in Gongyi and Hangzhou have increased by 4,000 tonnes and 1,000 tonnes,...
The US dollar strengthened last Friday and once rose to the highest in almost four days. LME aluminium climbed 1.69%. Three-month LME aluminium ended Friday at US$1,597.5 per tonne, up 1.69% on the day. Investor reaction to the ongoing coronavirus situation in the US will continue to be watched. As of Friday June 26, LME aluminium cash (bid) price stands at US$ 1582 per tonne, LME official settlement price stands at US$ 1582 per tonne; 3-months bid price stands at US$ 1597.50 per tonne, 3-months offer price is US$ 1597.50 per tonne; Dec 21 bid price stands at US$ 1699 per tonne, and Dec 21 offer price stands at US$ 1699 per tonne. The LME aluminium opening stock stood at 1652025 tonnes. Live Warrants totalled 1474350 tonnes, and Cancelled Warrants were 177675 tonnes. LME aluminium...
Aluminium is forecasted to become the most liquid commodity in the third quarter of 2020 along with the increase that developed in the majority of other commodities. Ibrahim Suabi, Director, TRFX Garuda Futures stated that among other metal commodities, aluminium has a consistent strengthening opportunity in the second half of this year. Suabi said: “A number of positive sentiments were expected to support the strengthening of commodity prices. One of the main drivers is the demand for the development of the electric car industry in the world.” "Among iron ore, copper, and others, aluminium is now the best, because along with the development of the electric car industry, despite Covid-19, demand will remain high.” Furthermore, according to him the steps of the United States (US) which...
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a hike over the Chinese Dragon Boat Festival Holiday by RMB 80 per tonne to stand at RMB 14,090 per tonne on Monday, June 29. The average prices are expected to range between RMB 14,070 per tonne and RMB 14,110 per tonne, with spot contract to be traded at a premium price of RMB 190-230 per tonne. Tianjin has seen the highest growth in A00 aluminium ingot price of RMB 110 per tonne among all the major Chinese cities to hover at RMB 14,110 per tonne, followed by Linyi, where the price has increased by RMB 100 per tonne to RMB 14,130 per tonne. In Hangzhou, the A00 aluminium ingot price has grown by RMB 85 per tonne to RMB 14,125 per tonne, while that in Foshan and Wuxi has edged higher by RMB 70 per tonne to...
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...
