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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The US dollar declined on Monday, June 15, amid mounting fears of a second wave of the coronavirus pandemic, while on Tuesday it rose on the back of a record rise in US retail sales. On Wednesday, the dollar continued to move higher and further expanded on Thursday, June 18. Three-month LME aluminium regained losses from early session last night, as it rallied from a session low of US$ 1,564.5 per tonne and closed 0.73% higher on Monday, June 15, at US$ 1,587.5 per tonne. On June 16, it ended up 1.04% to stand at US$1,604 per tonne and further higher for the third consecutive day on June 17 to US$ 1,607.5 per tonne. On June 18, however, it ended the day 0.47% lower at US$1,600 per tonne. Both LME aluminium cash (bid) and LME aluminium official settlement price began the week on Monday,...
Just when the Industry 4.0 was creating a buzz in the aluminium industry, inspiring smelters and plants to integrate digitalization in their operations management, the COVID-19, also known as the novel coronavirus, made its emergence on the earth causing a pandemic and slowing down lives and livelihoods. The virus has caused radical shifts in workflows all across the globe as millions are practising social distancing and/or complying with self-quarantine recommendations. But while downsizing many industries, the pandemic’s dramatic appearance is believed to have accelerated numerous trends on the other hand, such as Industry 4.0. Industry 4.0 is the current transformation of traditional manufacturing and industrial practices with the latest smart technology. This primarily focuses on the...
Hydro has made a second round of donations to support communities near its operations in the state of Pará in northern Brazil. The company announced that it will donate about 11,000 food baskets, after delivering 25,000 food baskets to seven communities in April. The initiative is in support of the cities in the fight against COVID-19 The baskets contain food and hygiene materials such as liquid detergent, soap, and bleach. “In recent months, Hydro has donated 5,000 virus detection kits to local communities, as well as around 100,000 medical items destined for municipal hospitals, health units and field hospitals in Barcarena and Paragominas. Among the items are hospital beds, pulse oximeters, digital infrared thermometers, gloves, masks, aprons and biological protection overalls,” the...
Oman is a free market economy, but the government is at present the most important factor in the economy, both as an employer and as a purchaser of goods and services. The Omani economy has been growing steadily over the last 25 years and considerable development has taken place. Sohar Aluminium is Oman’s first foray into Aluminium industry. The Gulf Nation’s aluminium ingot export during 2017-19 exhibited with dwindling image as the export volume during the phase remained at 583,038 tonnes and the revenue income stood at $708.51 million. The estimated export volume for 2020 has been analysed at 176,942 tonnes and the income to stretch at $233.47 million. However, when the estimated export volume and income have been summed up with the existing three years it stands to 759,980 tonnes and...
The US dollar extended its increase on Thursday. Overnight, LME aluminium fell 0.47% and SHFE aluminium shed 0.65%. Three-month LME aluminium tested support from the 10-day moving average as it fell from a session high of US$1,615.5 per tonne. It ended the day 0.47% lower at US$1,600 per tonne. LME aluminium is likely to trade at US$1,580-1,610 per tonne. As of Thursday June 18, LME aluminium cash (bid) price stands at US$ 1586.50 per tonne, LME official settlement price stands at US$ 1586.50 per tonne; 3-months bid price stands at US$ 1608 per tonne, 3-months offer price is US$ 1608 per tonne; Dec 21 bid price stands at US$ 1710 per tonne, and Dec 21 offer price stands at US$ 1710 per tonne. The LME aluminium opening stock stood at 1610300 tonnes. Live Warrants totalled 1403775 tonnes,...
Following the two consecutive hikes, National Aluminium Company Limited (NALCO) has decreased its aluminium ingots and aluminium products prices by INR 2,600 per tonne or 1.8 per cent with effect from Wednesday, June 17. NALCO’s aluminium ingots price is thus, now hovering at INR 139050-142550 per tonne as compared to INR 141,650-145,150 per tonne as of June 11. With the latest cut, the prices of aluminium billets have come in at INR142,500-145,150 per tonne, while the prices of aluminium wire rods have pegged at INR 143,550 – 147,900 per tonne. Indian aluminium producers generally link the 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 more than 10% so far in 2020 due to slower global demand...
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a decline for the second consecutive day of RMB 60 per tonne to stand at RMB 13,910 per tonne, as of Friday, June 19. The average prices are expected to range between RMB 13,890 per tonne and RMB 13,930 per tonne, with spot contract to be traded at a premium price of RMB 160-200 per tonne. Hangzhou, Shenyang, and Linyi have seen the highest decline today of A00 aluminium ingot price among the major Chinese markets by RMB 70 per tonne to stand at RMB 13,920 per tonne, RMB 13,855 per tonne, and RMB 13,840 per tonne, respectively. Foshan, Wuxi, and Chongqing have seen a plunge of RMB 60 per tonne to, respectively, hover at RMB 14,000 per tonne, RMB 13,910 per tonne, and RMB 13,870 per tonne. In Gongyi, the price...
According to the recent report, Vedanta has increased its aluminium ingots prices by INR 2000 per tonne or 1.47 per cent with effect from Thursday, June 18. The prices are thus, now ranging between INR 137,750 per tonne and INR 150,750 per tonne, as compared to INR 135,750-148,750 per tonne on Saturday, June 13. With the latest hike following two consecutive declines last week, Vedanta’s aluminium billet price has come in at INR 145,750 per tonne, also up by INR 2000 per tonne or 1.39 per cent from INR 143,750 per tonne on June 13. Like any other Indian aluminium producers, Vedanta also links its aluminium and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium are down nearly 11% so far in 2020 due to slower...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to trend lower this week. Inventories came in at 754,000 tonnes in the week ended June 18, down 33,000 tonnes from Thursday June 11. 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 19,000 tonnes and 5,000 tonnes from June 11 to stand at 266,000 tonnes and 112,000 tonnes. But inventories in Nanhai increased by 3,000 tonnes to 164,000 tonnes. Inventories of aluminium in Hangzhou, Tianjin and Linyi remained unchanged at 104,000 tonnes, 59,000 tonnes, and 10,000 tonnes. In Gongyi and Chongqing, stocks of aluminium stood at...
Hindalco Industries Limited has increased its aluminium products prices with effect from Thursday, June 18, after two consecutive declines last week. With the latest hike, the company’s aluminium ingot price is now standing at INR 139,500 per tonne, an increase of INR 2,250 per tonne or 1.63 per cent from INR 137,250 per tonne on Saturday, June 13. The prices of Hindalco’s wire rods and billets have also been grown by INR 1,750 per tonne or 1 per cent from INR 148,350 per tonne and INR 144,350 per tonne on June 13. As of today, June 18, Hindalco's wire rods and billets prices are hovering at INR 150,100 per tonne and INR 146,100 per tonne, respectively. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal...
The Brussels-based European Aluminium said: “The European aluminium industry needs additional instruments to address the harmful effects of Chinese subsidies.” European Aluminium is a trade group consisted of more than 80 producers of the metal. The organization lauded that it is calling upon the European Commission “to effectively address the distortive effects of foreign subsidies in the EU single market and help create a level playing field for the aluminium industry in Europe.” European Aluminium stressed a proposed white paper on the topic: “Must be urgently translated into effective measures. The European aluminium industry is buckling under the pressure of subsidized excess capacity from China.” Gerd Götz, Director General of European Aluminium said: “The EU’s current trade toolbox...
The US dollar continued to move higher on Wednesday, June 17, as investors safe haven demand increased amid concerns about the coronavirus pandemic with a surge in cases in some US states. Three-month LME aluminium ended higher for the third consecutive day, as it bounced back after dipping to a session low of US$ 1,591 per tonne, finishing the day 0.22 per cent higher at US$ 1,607.5 per tonne. Open interest shrank 15,022 lots to 838,000 lots as shorts covered their positions. On Wednesday, June 17, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1577.50 per tonne after growing by US$ 4 per tonne. 3-months bid price and 3-months offer price also rose but marginally by US$ 0.5 per tonne to come in at US$ 1600 per tonne. Dec 21 bid price and Dec 21 offer...
In early June 2020, Alba’s executives, along with the Chief Executive Officer Ali Al Baqali, visited the company’s Spent Pot Lining (SPL) Treatment Plant construction site. Upon the visit, the CEO reported that the construction is progressing as per schedule. In line with Bahrain’s National Waste Management Strategy, this project will provide a value-creating and sustainable solution to treat SPL, ensuring zero-waste. Bahrain’s National Waste Management Strategy is led by His Highness Shaikh Abdulla bin Hamad Al Khalifa, Personal Representative of His Majesty King of Bahrain, and President of the Supreme Council for Environment. Ali Al Baqali, said: “Being one of the blue-chip assets of the Kingdom of Bahrain, our aim is to lead the fields in sustainability – in line with the Kingdom of...
On 17 th June’20, Alcoa Corporation, a global leader in bauxite, alumina and Aluminum made public that from 25 th June’20, it plans to begin the formal process for the collective dismissal of employees at its San Ciprián aluminium facility in Spain. On 28 th May ’20, Alcoa set forth an informal process with the workers’ representatives to discuss significant and unsustainable circumstances at the aluminium plant. The Company now intends to begin the formal 30-day consultation period with the Works Council to achieve the best possible outcome for the Company and its workforce. The Company envisions a restructuring for the aluminium plant that retains a portion of the cast-house in operation. A collective dismissal could potentially affect up to 534 employees of the aluminium plant. No...
“The scaling tensions with China create an accelerated expectation of India’s attempt slow down its import dependency from its neighbour of North and shift the required demand to the local manufacturing” – as per industry experts. Even though China has cropped up to be India’s biggest trading partner with imports accounting for close to 16% of the total. As per experts opinion, any obstruction will have a comparatively brief impact on the domestic industry. The disarray engendered to raw material supplies from China due to COVID-19 has prepared local companies to deal with such events. Vinnie Mehta, Director General of Automotive Component Manufacturers Association of India (ACMA), which represents auto parts companies said: “The COVID-19 situation has underlined the need to enhance deep...
Belgium-based startup ValCun is reportedly creating a technology to make metal 3D printing more affordable and convenient than before. The company reports that it is using fresh and recycled aluminium, even cans, as input for its products. As mentioned in the available reports, ValCun refers to the technology as “molten metal deposition.” The technology uses aluminium wire feedstock, which looks like a spooled metal wire that is melted. The process of the technology is described to be as follows: the metal is first melted, then the workpiece is heated using plasma, and then finally, the material is deposited. This procedure leads to less heat and energy expended compared to heating an entire chamber. Jonas Galle, the inventor of the technology and founder of ValCun, said this process of...
According to the latest report from the US Geological Survey, US domestic primary aluminium production was 95,000 tonnes in March 2020. The average daily production stood at 3,050 tonnes, essentially unchanged from that in February, slightly more than that in March 2019, and 34% more than that in March 2018. Total aluminium recovered from scrap was 278,000 tonnes in March, unchanged from the amount in February, 4% less than the amount in March 2019, and 10% less than that in March 2018. Of this, 154,000 tonnes of aluminium was recovered from new scrap and 124,000 t was recovered from old scrap. In March, the average U.S. spot market price of primary aluminium ingot was $0.866 per pound, 4% less than that in February. Inventories of primary aluminium in LME-approved warehouses in the...
The Tiwai Point aluminium smelter with 800 employees near Bluff in New Zealand might have to hold up for a year to find out whether their jobs are safeguarded as the combat over its power bill continues. The Electricity Authority of New Zealand last week covered the way for the smelter to apply for a discount potentially worth $10 million a year on the transmission charges it pays Transpower to connect to the national grid. However, Transpower declared on 17 th June’20 that it might be at least a year before it is ready to consider any application. Transpower said: “Any discounts on transmission charges would need to wait on other decisions Transpower needs to make about how to implement a broader instruction issued by the authority for it to adopt more of a user-pays model for...
