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...
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Hydro is buying face masks made by local entrepreneurs to support communities in Paragominas and Barcarena in the state of Pará. The company will provide masks to employees and contractor employees at the Paragominas bauxite mine, Alunorte alumina refinery and Albras aluminium plant. "Suppliers are being mapped primarily in the municipalities where the units are located. In this way, besides reinforcing our value of care in the operations, protecting people, Hydro promotes the local economy," said Luana Carvalhosa, Senior Manager of Social Programs in Hydro’s Bauxite & Alumina business in Brazil. The masks are non-medical face masks to help prevent the spread of infection as recommended by the Brazilian authorities. Hydro said the selection of local suppliers follows quality and safety...
Vedanta has hiked the aluminium ingot price by nearly 1%. With effect from April 21, the prices of some ingots are in the range of INR 130,000-143,000 per tonne, from INR 128,500-141,500 per tonne. With the latest hike, the price of billet currently stands at INR 138,000 per tonne. 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 are down more than 19% so far in 2020 due to slower global demand following the coronavirus outbreak. <iframe width="500" height="300" src="https://www.youtube.com/embed/1mMvkaoWBlk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> Vedanta’s aluminium business typically...
According to Antaike’s report on Wednesday, April 22, China’s primary aluminium demand has surged by an extra 150,000 to 200,000 tonnes over the past one month, owing to aluminium scrap shortage caused by the coronavirus outbreak. Aluminium scrap supplies have weakened since the end of the Lunar New Year holidays in January. Delay in resuming recycling activity due to the holidays, together with falling imports because of the global COVID19 pandemic, has adversely affected the supplies of scrap, according to the research house. “Price spread between aluminium scrap and primary aluminium narrowed obviously, leading to increasing amount of primary aluminium as a substitute and driving its demand,” Antaike said in a note. The most active aluminium contract on the Shanghai Futures Exchange...
Hindalco Industries Ltd has increased the prices of its aluminium ingots, billets and wire rods after cutting them five times in a row. With effect from April 17, the price for Hindalco aluminium ingots now stands at INR 134,500 per tonne, an increase of 2.67% or INR 3,500 per tonne from INR 131,000 per tonne on March 27. Hindalco is now selling its wire rods at INR 145,600 per tonne. The price has registered an increase of 2.82% or INR 4,000 per tonne from INR 141,600 per tonne. The price of billets has risen by 2.91% from March 27 to stand at INR 141,600 per tonne. 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 are down more than 19% so far in 2020 due to slower...
The US dollar extended its increase on Tuesday. The dollar index, which tracks the greenback against a basket of other currencies, added 0.24% and finished at 100.19. LME base metals fell across the board overnight. LME aluminium lost 1%. Benchmark aluminium price on London Metal Exchange dropped further to close at US$1443.5 per tonne on Tuesday, April 21 down 0.55 per cent from the previous day’s close at US$1451.5 per tonne. As of Tuesday, April 21, LME aluminium cash (bid) price stands at US$ 1443.50 per tonne, LME official settlement price stands at US$ 1443.50 per tonne; 3-months bid price stands at US$ 1483.50 per tonne, 3-months offer price is US$ 1483.50 per tonne; Dec 21 bid price stands at US$ 1611.50 per tonne, and Dec 21 offer price stands at US$ 1611.50 per tonne. The LME...
South32 Ltd reported a 1% quarter-on-quarter rise in aluminium production in the March quarter. Aluminium production came in at 245,000 tonnes in 3Q20. Output stood at 741,000 tonnes in the nine months ended March 2020, from 737,000 tonnes in the nine months ended March 2019. That was up 1% year-on-year. Hillside Aluminium saleable production increased by 1% to a record 540,000 in the nine months ended March 2020 as the smelter continued to test its maximum technical capacity, despite the impact to production from load-shedding. In 3Q20, production stood at 178,000 tonnes, down 2% quarter-on-quarter. “As previously reported, FY20 production guidance has been withdrawn due to the uncertain impact of measures or restrictions that may be required to contain the spread of COVID-19,” the...
Isaac M. Tamir, Chairman of the T. T. Abraham Group, stated: “Mostar’s Aluminum Debt does not apply to the new Aluminum Industries Company, HZHB Elektroprivreda utility company stated that the payment of the electricity consumed debt is an integral part of Mostar’s restructuring plan." Elektroprivreda HZ HB reminds that Mostar’s debt to this company amounts to almost $166 million and that the last payment for this debt was received by Elektroprivreda HZ HB during the last year. <iframe width="500" height="300" src="https://www.youtube.com/embed/JxeeqCAN4GU" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> Elektroprivreda HZHB stated: “Aluminum Mostar’s debt does not call into question the survival and operation of...
Global primary aluminium production came in at 5.477 million tonnes in March, representing an increase of 1.52% from 5.395 million tonnes in March 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Monday 20 April 2020. On a month-on-month comparison, aluminium production rose by 6.45% from 5.145 million tonnes. Aluminium production totalled 16.072 million tonnes in the first three months of 2020, up by 2.1% from 15.742 million tonnes in the first three months of 2019. In Asia ex-China, aluminium production declined by 7.94% year-on-year but up 3.88% month-on-month to 348,000 tonnes in March. Output in January-March stood at 1.036 million tonnes, a decrease of 5.47% from 1.096 million tonnes in January-March 2019. In the Middle East, primary...
Jean-Sébastien Jacques, CEO, Rio Tinto has stated that meeting the company’s ambitious emission targets would not be possible without using its impact on the downstream customers. Jacques, while speaking in Rio Tinto’s climate and water seminar, said that achieving the targeted zero net carbon emissions by 2050 requires a synergetic effort across the company’s value chain. <iframe width="500" height="300" src="https://www.youtube.com/embed/xmzWxQSf9NE" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> Rio Tinto aims by 2030 to decrease its thorough emissions by 30% to achieve the net-zero. The company plans to invest a billion dollars over the next five years on climate-related projects. Jacques said: “Our approach to...
The US dollar was slightly higher on Monday as plunged oil prices weighed on oil-linked currencies and as investors braced for a tough quarter ahead. Investors also awaited the outcome of a European Union summit this week on how to tackle economic fallout from the coronavirus crisis. The dollar index, which tracks the greenback against a basket of other currencies, climbed 0.24 per cent and ended at 99.902. Three-month LME aluminium closed flat on the day (Monday) at US$ 1,505 per tonne, after dipping to a session low at US$ 1,487 per tonne. Weak fundamentals and chaos in oil markets will likely depress LME aluminium to US$ 1,480-1,515 per tonne today. As of Monday, April 20, both LME aluminium cash (bid) price and LME official settlement price have recorded a sharp decline of US$ 31 per...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continue to decline over the weekend on improved demand. Inventories came in at 1.435 million tonnes as of Monday April 20, down 60,000 tonnes from Thursday April 16. 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 16,000 tonnes, 1,000 tonnes and 35,000 tonnes from April 16 to stand at 604,000 tonnes, 171,000 tonnes and 306,000 tonnes on Monday, 20 April 2020. But inventories in Tianjin stood at 57,000 tonnes, up 1,000 tonnes. Stocks of primary aluminium in Gongyi and Hangzhou stood at 133,000 tonnes and 141,000 tonnes, a...
The US dollar edged lower last Friday, April 17. The dollar index, which tracks the greenback against a basket of other currencies, shed 0.36% on Friday and ended at 99.71, 0.22% higher on the week. LME aluminium shed 0.53% and SHFE aluminium advanced 3.2%. Three-month LME aluminium lost gains from the Asian trading hours. It dropped from an intraday high of US$1,534 per tonne and closed at US$1,505 per tonne, down 0.53% on the day. Shanghai Metals Market expects the contract to trade at US$1,490-1,540 per tonne today. As of Friday, April 17, LME aluminium cash (bid) price stands at US$ 1482.50 per tonne, LME official settlement price stands at US$ 1482.50 per tonne; 3-months bid price stands at US$ 1520 per tonne, 3-months offer price is US$ 1520 per tonne; Dec 21 bid price stands at US$...
The National Aluminium Company Ltd. (NALCO), the Indian state-owned aluminium production Company, on 18 th April’20, made public that it has obtained the mining lease of Angul’s Utkal-D coal block. The permission has been granted by the Odisha state government and a notification has been issued on 16 th April through the State Mines Department. Nalco stated that: “As per the notification, the mining lease of Utkal-D coal block is over an area of 301.28 hectares in villages Kosala, Nandichood, Similisahi and Raijharan under Chendipada Tahasil of Angul District.” Expressing confidence that the operationalization of Utkal-D coal block will support significantly to the bottom line of NALCO, Sridhar Patra, CMD, NALCO, has thanked the Odisha State Government and the Government of India for...
The US dollar was roughly flat on the first day of the week, April 13, amid thin trades with Europe out on holiday. The dollar index, which tracks the greenback against a basket of other currencies, was little changed on the day and finished at 99.504. On Tuesday, it declined to 98.875 as risk appetite returned to the market after the better-than-expected economic data from China dispelled some concerns about the coronavirus impact on the world’s second-largest economy. On Wednesday, it rebounded at 99.573, and then at 99.9 on Thursday, April 16. Three-month LME aluminium rebounded on Tuesday, April 14, after the decline, closing up 2.09 per cent higher on the day at US$ 1,515 per tonne with short covering their positions. On Wednesday, it closed at US$1,516 per tonne, down 0.2 per cent....
Not even a month or two went by this year, the aluminium industry started facing a brand new challenge in the form of COVID19, followed by some of the severe impacts at its prices, demand, and consumption in the year last due to the US-China trade tensions, US aluminium import tariffs, and the world economic slowdown. The London Metal Exchange spot price for aluminium in 2019 had fallen by 17 per cent to average US$1,830 per tonne, and that of the free on board (FOB) Australian alumina price declined to US$342 per tonne, driven by rising supply with the return of Brazil’s Alunorte refinery to full production. In 2020 and 201, the LME aluminium spot price is forecast to decrease further, but slower than the year last, by around 7 per cent, approximately ranging between US$1,698 per tonne...
The global aluminium prices are falling and the surfeit inventories are inclining up rapidly, though the market has not yet entered the catastrophe situation that despoiled the global market in 2008, a year is known for recession. The COVID-19 breakout has stroked out aluminium in the worst possible way, as automakers orders are halted, aircraft’s are dropping production and supply chain remains baffled at high levels. Aluminium smelters ranging more than 50% around the globe are hugely losing cash, as the trade prices have reached four years low. Nevertheless, shrinkage has straggled behind the plunge in demand, leading to a briskly inflating overabundance. A similar enterprising backtracked the aluminium market in the preceding financial crisis, leading to a glut that took more than a...
According to Reuters calculations based on the official data on Friday, China’s daily aluminium output in March dropped by 1.7 per cent compared to the earlier two months. Supply disruption and incessant price fall of the metal due to the COVID19 outbreak resulted in daily production drop. But as per the data from the National Bureau of Statistics, China’s monthly aluminium production in March grew 2.3 per cent over the year, amounting to 2.97 million tonnes. With this, China’s total first-quarter output came in at 8.84 million tonnes, up 2.7 per cent year-on-year. According to Reuters, China’s total daily aluminium output in January and February of this year was 97,450 tonnes, which in March declined to 95,800 tonnes, the lowest daily rate since October. The bureau did not typically...
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Luxembourg's economy is quite similar to Germany's and the nation enjoys a degree of economic prosperity very rare among industrialized democracies. In Luxembourg, Hydro is present with metal products operations. The company’s largest aluminium remelting operation in Europe is based in Clervaux, with capacity topping 100,000 tonnes per year. The plant remelts aluminium scrap into extrusion ingot, but still, the country’s demand for aluminium ingot remains unfulfilled. Luxembourg’s total importation of aluminium ingot during 2017-19 was recorded at 206,757 tonnes and the expended revenue stood at $334.84 million. The estimated import for 2020 has been analysed at 65,980 tonnes and the amount to be expended might reach to $110.11 million. When added up with the last three years the total...
