Aluminium Bahrain (Alba) reviewed its production operations and development projects during a visit by the Deputy King, His Royal Highness Prince Salman bin Hamad Al Khalifa, who also welcomed the company’s recent acquisition of Aluminium Dunkerque, the largest aluminium smelter in the European Union. During the visit, His Royal Highness conveyed the greetings and appreciation of His Majesty King Hamad bin Isa Al Khalifa to Alba’s national workforce. He reviewed the progress of operations across Alba’s production lines and the development projects currently being undertaken by the company. He also commended the company’s achievements, including the milestone of recording 50 million safe working hours. He also commended the efforts and dedication of Alba’s national workforce in maintaining...
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...
Grow with
AL Circle
Social inventories of primary aluminium ingots have continued to trend lower over the weekend ended Monday, April 27, on robust demand and subdued supply, according to Shanghai Metals Market. SMM data shows the primary aluminium ingots stocks have decreased by 76,000 tonnes across eight major consumption areas in China, including SHFE warrants, from last Thursday, to stand at 1.283 million tonnes. The chart below shows the current status of the primary aluminium inventories across China in more details: As the above chart shows that among all the major Chinese provinces, Gongyi has seen the highest decline in primary aluminium inventories over the weekend by about 24,000 tonnes to stand at 94,000 tonnes, followed by Nanhai 21,000 tonnes to come in at 265,000 tonnes. In Wuxi, the stocks...
National Aluminium Co Ltd has cut the prices of its aluminium ingots for the fourth time in a row. With effect from Thursday, April 23, the prices of ingots came in at INR 142,150-145,650 per tonne, down nearly 1% from 143,150 per tonne-146,650 per tonne on April 17. With the latest cut, the price of aluminium billets now stands at INR 145,600 - 148,250 per tonne, down from INR 146,600 - INR 149,250 per tonne. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The contract is down more than 18% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium products and alumina account for nearly two-thirds of NALCO's gross topline, while the sales of chemicals contribute to the...
The US dollar edged lower against the euro on Friday, April 24, ending a four-day winning streak, but broader concerns about the euro's outlook kept dollar bears at bay. The dollar index, which tracks the greenback against a basket of other currencies, lost 0.28 per cent to 100.22, after hitting its highest level since April 7 at 100.87. As of Friday, April 24, both LME aluminium cash (bid) price and LME official settlement price dipped marginally to US$ 1473 per tonne from US$ 1473.50 per tonne on Thursday, April 23. 3-months bid price and 3-months offer price also plunged slightly from US$ 1509.50 per tonne to US$ 1508 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1629 per tonne compared to US$ 1632 per tonne on the previous day. The LME aluminium opening stock rose...
According to the latest report from the US Geological Survey, US domestic primary aluminium production was 88,000 tonnes in February 2020. The average daily production stood at 3,030 tonnes, slightly less than that in February 2019. The output was slightly more than that in January. Total aluminium recovered from scrap was 278,000 tonnes in February. That was 3% more than the amount in January and slightly more than the amount in February 2019. Of this, 157,000 tonnes of aluminium was recovered from new scrap and 122,000 t was recovered from old scrap. In February, the average U.S. spot market price of primary aluminium ingot was $0.905 per pound, 4% less than that in January. Inventories of primary aluminium in LME-approved warehouses in the United States decreased to 3,725 tonnes at the...
The COVID19 impacts have brought in a lot of changes in planning, strategizing, and executions for the aluminium companies. Such was our observation over more than a week, from April 11 to April 24. While decline in European car sales by about 52 per cent in March, attributing to the lockdowns imposed for the containment of COVID19, as reported on April 17, did not escape our attention, nor we missed to report how Rio Tinto, with support from Motorola Solutions, is technologically gearing up to pursue delivery towards its consumers while safeguarding people and communities during the COVID-19 pandemic. So, let us here take a quick recap to some of such major market affairs and developments happened over the week, caused by COVID19. To start with, Fitch Ratings, the leading provider of...
After soaring by RMB 230 per tonne, the A00 aluminium ingot price has recorded a downfall of RMB 30 per tonne to stand at RMB 12,460 per tonne, as of Friday, April 24, found Shanghai Metals Market. The average prices are expected to range between RMB 12,440 per tonne and RMB 12,480 per tonne, with spot contract to be traded at a premium price of RMB 30-70 per tonne. Among the major Chinese provinces, Foshan has continued to see a surge of RMB 110 per tonne to RMB 12,690 per tonne. In Tianjin and Chongqing, the A00 aluminium ingot price has increased as well by RMB 50 per tonne and RMB 20 per tonne to respectively come in at RMB 12,510 per tonne and RMB 12,690 per tonne. In other provinces, the primary aluminium ingot price has decreased; such as in Wuxi and Gongyi, the price has declined...
The US dollar climbed slightly on Thursday. LME aluminium shed 0.66% and SHFE aluminium climbed 0.9%. Three-month LME aluminium trimmed some declines during the European trading hours. It bounced back from a session low of US$1,503 per tonne, closing 0.66% lower on the day at US$1,510 per tonne. Shanghai Metals Market expects the contract to trade at US$1480-1520 per tonne today. As of Thursday, April 23, LME aluminium cash (bid) price stands at US$ 1473.50 per tonne, LME official settlement price stands at US$ 1473.50 per tonne; 3-months bid price stands at US$ 1509.50per tonne, 3-months offer price is US$ 1509.50 per tonne; Dec 21 bid price stands at US$ 1632 per tonne, and Dec 21 offer price stands at US$ 1632 per tonne. The LME aluminium opening stock stood at 1307725 tonnes. Live...
On 22 nd April’20, the U.S. International Trade Commission (USITC) made a unanimous preliminary determination that unfairly-traded imports of common alloy aluminium sheet from Bahrain, Brazil, Croatia, Egypt, Germany, Greece, India, Indonesia, Italy, Republic of Korea, Oman, Romania, Serbia, Slovenia, South Africa, Spain, Taiwan, and Turkey are causing injury to U.S. producers. The preliminary injury determination means that the antidumping and countervailing duty cases against imports from those countries, which the Commerce Department commenced on 30 th March’20, will proceed. The Commerce Department’s preliminary countervailing duty determinations are currently due to be completed on 3 rd June’20, and the preliminary antidumping duty determinations are due to be completed on 17 th...
National Aluminium Co Ltd has cut the prices of its aluminium ingots. With the latest cut, the prices of ingots came in at INR 143,150 per tonne to INR 146,650 per tonne, with effect from Friday, April 17. The price of aluminium billets is currently hovering at INR 146,600 - INR 149,250 per tonne. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The contract is down more than 19% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium products and alumina account for nearly two-thirds of NALCO's gross topline, while the sales of chemicals contribute to the rest. NALCO manufactures wire rods, billets, coils, and chequered sheets. NALCO utilized its full capacity at...
In the first two months of 2020, world primary aluminium surplus grew to 684,000 tonnes from 492,000 tonnes in the whole of 2019, showed the World Bureau of Metals Statistics report on Wednesday, April 22. This came as production jumped by 8.3 per cent in January and February, in contrast to the demand growth of 4.1 per cent year-on-year. By the end of February, aluminium stocks totalled at 1.99 million tonnes, down 159,000 tonnes from the level seen at the end of December 2019. Stocks at LME-approved warehouses also fell during the same period, mostly in Asian warehouses. In China, primary aluminium demand was apparently higher by 6.2 per cent during January to February compared to the same period last year, while output expanded by about 6.06 million tonnes, which is about 55 per cent...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continue to fall for the third consecutive week as demand remained strong amid weak arrivals. Inventories came in at 1.359 million tonnes in the week ended April 23. That was down 136,000 tonnes from the previous week. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi, Shanghai, and Nanhai decreased by 43,000 tonnes, 5,000 tonnes and 55,000 tonnes from April 16 to stand at 577,000 tonnes, 167,000 tonnes and 286,000 tonnes on Thursday. Stocks Hangzhou stood at 135,000 tonnes, a drop of 7,000 tonnes. Stocks of primary aluminium in Gongyi, Tianjin, Chongqing...
ALVANCE British Aluminium has confirmed plans to lay-off 30 to 40 of its workers at the Lochaber smelter in Fort William in response to the impact of the COVID-19 epidemic. The company stated that it is closely tracking the impact of the pandemic and has been adjusting operations to address the challenges caused by the coronavirus situation, with the safety of its 140 employees as its top priority. All precautionary measures have been taken at the smelter and hydropower station to make certain that the welfare of those working on-site – including additional hygiene measures and guidelines to maximise social distancing. Alvanche said from a business perspective: “The smelter has been adjusting production to meet the demand for aluminium, which has been impacted by what it described as a...
Alcoa Corporation, in its first-quarter financial results on Thursday, April 23, announced that it would curtail the remaining 230,000 tonnes of uncompetitive smelting capacity at Intalco smelter in Ferndale, Washington, owing to the current downturn market conditions. The full curtailment, including 49,000 tonnes of earlier-curtailed capacity at Intalco, is likely to be completed by the end of July 2020. Post this action, Alcoa’s total smelting capacity cut will come in at 880,000 tonnes, or approximately 30 percent of its total global smelting capacity. Roy Harvey, Alcoa’s President and Chief Executive Officer, said: “While our employees have worked diligently to improve the facility, the smelter is uncompetitive, and current market conditions have exacerbated the facility’s...
According to China customs data on Thursday, April 23, aluminium imports to China grew more than triple in March 2020 from a year ago and stood the highest in the past six years or more. But bauxite imports in the same month fell due to disruptions of the incoming shipments of raw materials. China’s unwrought aluminium imports in March came in at 121,025 tonnes, up 242 per cent from 35,420 tonnes in the same period last year, showed the General Administration of Customs. This marked the highest since China imported 125,180 tonnes in December 2013. China’s exports of aluminium, on the other hand, dipped by 5 per cent in March from the year-earlier at 520,000 tonnes, according to data released at mid-month. In regards to the jump in China’s March aluminium imports, one trader reasoned out...
Alcoa Corporation, a global leader in bauxite, alumina, and aluminium products, has released its first quarter results of 2020, ending March 31. According to the report, Alcoa’s adjusted net loss improved from $57 million or $0.31 per share in the previous quarter to $42 million or $0.23 per share in Q1 2020. Net income attributable to Alcoa Corporation came in at $80 million or $0.43 per share in Q1 2020, compared with a net loss of $303 million or $1.63 per share in Q4 2019. Adjusted EBITDA excluding special items came in at $321 million in Q1 2020, down 7 per cent from $346 million in Q4 2019. The revenue of the company in the first quarter of 2020 stood at $2.4 billion, down 2 per cent from the previous quarter, attributing to lower global alumina and aluminium prices. Alcoa ended the...
A00 aluminium ingot price has increased to stand at RMB 12490 per tonne on Thursday, 23 April 2020, from its previous price of RMB 12260 per tonne. This marks a growth of RMB 230 per tonne or 1.88 per cent. The price is expected to range within RMB 12470-12510 per tonne. Spot aluminium price is likely to be traded at a premium of RMB 30-70 per tonne. Aluminium ingot price in Foshan stands at RMB 12850 per tonne, up RMB 270 per tonne. Ingot prices in Wuxi and Hangzhou have risen to stand at RMB 12475 per tonne and RMB 12490 per tonne. Aluminium ingot prices in Chongqing, Shenyang, Tianjin, Linyi, and Gongyi stand at RMB 12530 per tonne, RMB 12535 per tonne, RMB 12460 per tonne, RMB 12600 per tonne and RMB 12520 per tonne. After remaining restrained for a week at RMB 9150 per tonne, Al...
A new aluminium project is to set in motion in the southern part of Iran and this will upsurge the nation’s production size to 785,000 tonnes. Reza Rahmani, Iran’s Minister of Industry, Mine and Trade said: “The project has come with a price tag of more than $1.2 billion and will see 300,000 tonnes of aluminium ingots produced.” The project is located at Lamerd in Iran’s southern province of Fars and it has been completed. The minister also stated that cutting-edge technology has been incorporated into the project, considering that a whole variety of products will be exported as well. Rahmani also said: “When operational, the factory will employ 1,500 people directly and 5,000 others indirectly.” The minister was very much clear to announce that the majority of the workforce has been...
The US dollar declined on Wednesday, April 22, giving up some gains from the previous day, as oil prices bounced back and eased investors demand for safe havens. But the greenback remained well supported amid persisted concerns about the uncertainty around the coronavirus crisis. Three-month LME aluminium moved higher with strengthened SHFE aluminium, ending at $1,520 per tonne on Wednesday, up 2.01 per cent on the day. The K-indicator broke up the 20-day moving average. Today, LME aluminium is expected to trade between US$ 1,490-1,520 per tonne. As of Wednesday, April 22, both LME aluminium cash (bid) price and LME official settlement price recorded a rise of US$ 18 per tonne to stand at US$ 1461.50 per tonne. 3-months bid price and 3-months offer price also increased by US$ 18 per tonne...
