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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After raising the benchmark for two consecutive months, Shandong Weiqiao Group, the top aluminium producer in China, has cut its benchmark purchasing price for prebaked anode. For April 2020, the company has reduced the benchmark purchasing price by RMB 170 per tonne to RMB 2,660 per tonne in cash. The decrease in price is due to a plunge in prices of petroleum coke, a raw material for anodes, according to Shanghai Metals Market. The prebaked anode price in the Central has recorded a drop of RMB 170 per tonne to RMB 2,890 per tonne on April 1, after remaining flat at RMB 3,060 per tonne since March 2. The price is likely to move within a range of RMB 2,710- 3,070 per tonne. The markets in the southwest and northwest China have also witnessed a decrease of RMB 170 per tonne each to RMB...
The US dollar fell against a basket of major currencies on Tuesday, March 31. LME aluminium closed 0.2% lower overnight. The SHFE kept its night trading session suspended. Three-month LME aluminium slipped to its lowest since April 2016 at US$1,507 per tonne in the North American trading session. According to Shanghai Metals Market, it closed the day lower at US$1,525.5 per tonne, to produce a monthly decline of 10.3%, the biggest monthly percentage decrease in almost a decade. As on Tuesday March 31, LME aluminium cash (bid) price stands at US$ 1489 per tonne, LME official settlement price stands at US$ 1489 per tonne; 3-months bid price stands at US$ 1524 per tonne, 3-months offer price is US$ 1524 per tonne; Dec 21 bid price stands at US$ 1650 per tonne, and Dec 21 offer price stands...
Vedanta Limited has appointed Sunil Duggal as Interim Chief Executive Officer of the company. Srinivasan Venkatakrishnan will step down as CEO and Director of the Company with effect from 5th April 2020, for personal reasons. Sunil Duggal will take additional charge as Interim CEO of Vedanta Limited along with his current role as CEO & Director of Hindustan Zinc Ltd. He will report to the Chairman. Sunil brings 36 years of rich and diverse leadership experience and has been associated with the group for last 10 years. The Company’s Chairman, Navin Agarwal said: "We would like to acknowledge and express our deep appreciation and thank Venkat for his immense contribution to the company. Apart from his relentless focus to drive the company, he has been in the forefront in leading the...
The world’s second-largest metal and mining corporation Rio Tinto will close one of its aluminium production lines at Tiwai smelter, New Zealand, in line with the government directives to curb the spread of coronavirus. Such was the announcement made by Rio Tinto’s New Zealand's Aluminium Smelters (NZAS) venture on Tuesday, March 31. The New Zealand government has announced a four-week lockdown to limit the spread of the coronavirus that has infected more than 750,000 people globally. According to the report, Rio Tinto will close the potline 4 at Tiwai smelter and relocate the workers to other areas of operations. "Our focus is on supporting our employees in a time of uncertainty and running a safe and efficient operation to meet our obligations with customers and suppliers who are also...
The US dollar rebounded against major currencies and riskier emerging market units on Monday, snapping a week of declines as investors braced for prolonged uncertainty and governments tightened lockdowns and launched monetary and fiscal measures to fight the coronavirus pandemic. Three-month LME aluminium resumed its downtrend on Monday, slipping to its lowest since April 2016 at US$ 1,522 per tonne in North American trading hours before closing the day sharply lower at US$ 1,529 per tonne. It is expected to move range-bound at US$1,520-1,570/per tonne today. As of Monday, March 30, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1495 per tonne after inching down by US$ 11 per tonne from US$1506 per tonne. 3-months bid price and 3-months offer price...
After the growth of 17,000 tonnes in primary aluminium inventories on last Monday and 20,000 tonnes on Thursday, the social inventories of primary aluminium have recorded a minor decline over the weekend ended Monday, March 30. The inventories over the weekend have dipped by 3,000 tonnes to come in at 1.664 million tonnes across eight major consumption areas in China, including SHFE warrants. On Thursday, March 26, the inventories were at 1.667 million tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi, Nanhai, Chongqing, and Linyi, the inventories have decreased by 12,000 tonnes, 3,000 tonnes, and 1,000 tonnes respectively to stand at 185,000 tonnes, 438,000 tonnes, 15,000 tonnes, and 11,000 tonnes. In Wuxi and...
Vedanta’s aluminium ingot and billet price fell for a fifth straight day on Friday, March 27. With effect from March 27, the prices of some ingots were in the range of INR 128,500-141,500 per tonne, down from INR 131,750-144,750 per tonne on March 24. The price of billet stood at INR 136,500 per tonne, a decrease of 2.33% from INR 139,750 per tonne on March 24. That was also down by 4.04% from INR 142,250 per tonne on March 19. 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 in the current quarter due to slower demand following the coronavirus outbreak. Vedanta is present in the aluminium segment through its 51 per cent stake in Bharat Aluminium Company...
The US dollar fell against a basket of currencies for a fourth straight day on Friday March 27. LME aluminium rose 0.8%. The SHFE kept its night trading session suspended. Three-month LME aluminium rallied on Friday. It finished the day at US$1,552.5 per tonne, a weekly decline of 1.6%. Shanghai Metals Market expects the contract to trade at US$1,520-1,560 per tonne today. As on Friday March 27, LME aluminium cash (bid) price stands at US$ 1506 per tonne, LME official settlement price stands at US$ 1506 per tonne; 3-months bid price stands at US$ 1538.50 per tonne, 3-months offer price is US$ 1538.50 per tonne; Dec 21 bid price stands at US$ 1656.5 per tonne, and Dec 21 offer price stands at US$ 1656.5 per tonne. <iframe width="500" height="300"...
"Considering the measures that many countries are adopting to combat the COVID-19 pandemic, it is essential to recognize the key role of the entire aluminium value chain, both at European and national level, taking into account its strategic value for many activities in the production system and for sustainability policies" claimed Mario Conserve, Secretary-General of FACE - Federation of Aluminum Consumers in Europe - the association representing the interests of aluminium transformers and users in the EU. Because of the COVID-19 emergency many sectors, such as foundries and companies operating in aluminium surface treatments, have already registered an around 50% production drop in March. Those losses will significantly increase following the closure of many companies decided by the...
The Indian state-owned National Aluminium Company (Nalco), has overcome the supply interruptions with sufficient coal stocks stacked up at the site of its smelting complex at Angul. Nalco’s aluminium smelter can produce 0.46 million tonnes and it is carrying out its uninterrupted operations. The appreciation for coal inventory which can last for three months. The intermittent disruptions phases of coal despatches are due to sporadic stirs at mines under the command area of Mahanadi Coalfields Ltd (MCL), a Coal India Ltd (CIL) subsidiary; coal supply position enhanced substantially post monsoons. Coal is a critical input in aluminium smelting and accounts for 40-45% of metal production costs. The all-through Q2 and Q3 of this current fiscal year, Nalco as well as other coal consuming...
ALRO Group, one of the largest vertically integrated aluminium producers in Europe, has announced its financial results of 2019, revealing a downfall in sales from RON 2.98 billion in 2018 to RON 2.78 billion in 2019, primarily as a result of unfavourable international and national market conditions. The group in the year last registered a net loss of RON 67 million compared to a net profit of RON 235 million in 2018. The significant decrease in results was a direct consequence of a continuous downward trend of the LME and tough market conditions. Marian NĂSTASE, Chairman of the Board of Directors of ALRO, said: “Facing adverse circumstances in the market, where LME showed a 15% decrease in 2019 compared to 2018, alumina market affected by excess output that led to downward selling...
Hindalco Industries Limited has cut the prices of its aluminium ingots, wire rods, and billets for the fifth time in a row. With effect from March 27, the price for Hindalco aluminium ingots now stands at INR 131,000 per tonne, a drop of 2.6% or INR 3,500 per tonne from INR 134,500 per tonne on March 24. The company is now selling its wire rods at INR 141,600 per tonne. That was down 2.41% from INR 145,100 per tonne. The price of Hindalco billets has reduced by 2.48% or INR 3,500 per tonne from March 24 to stand at INR 137,600 per tonne. The prices of these products were 141,100 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 in the current...
Chalco, China’s biggest state-run aluminium producer, produced 3.79 million tonnes of aluminium in 2019, down 9 per cent from the previous year, according to the company’s presentation to analysts reviewed by Reuters. With this production, Chalco just managed to retain its position as the world’s No. 2 listed aluminium producer ahead of Rusal’s 3.76 million tonnes of annual output. According to a report last week, the top producer China Hongqiao’s annual production dropped 11.3 per cent in 2019 totalling at 5.64 million tonnes. These lower production numbers come when Chinese aluminium firms are preparing to cope up a difficult 2020 with prices crashing to more than four to five years low RMB 11,340 per tonne amid supply concerns due to the outbreak of epidemic COVID-19. According to...
According to the latest report from the US Geological Survey, US domestic primary aluminium production came in at 91,000 tonnes in December 2019. The average daily production was 2,950 tonnes, essentially unchanged from that in November 2019, 3% less than that in December 2018, but 43% more than that in December 2017. For the full year 2019, total primary aluminium production was 1.09 million tonnes, 23% more than that in 2018. Total aluminium recovered from scrap was 262,000 tonnes in December 2019, down 3% month-on-month. That was down 10% from December 2018 and 7% from December 2017. <iframe width="500" height="300" src="https://www.youtube.com/embed/ib9ec4m_Dyk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> Of...
The Alvance British Aluminium stated that it has designed a plan to keep it staffs safe while continuing to operate at a reduced level of output at its Lochaber smelter and hydropower station. The production activities of the smelter at Fort William have been reduced to 25% and it is operating at 75% capacity. This will allow a limited level of staffs to join the work and the most essentials. At the plant site, additional required hygiene measures have been introduced, shift patterns have been adjusted and guidelines have been put in place to maximise social distancing. The higher management of the Lochaber plant, Britain’s only aluminium smelter, considers that maintaining a minimal level of operation is essential. The Lochaber produced aluminium is delivered to the food packaging...
The US dollar extended its decline to the weakest against a basket of currencies in more than a week on Thursday. LME aluminium shed 0.5% overnight. The SHFE kept its night trading session suspended. Three-month LME aluminium slipped to its lowest since April 2016 at US$1,528 per tonne in early European trading hours. It ended the day lower at US$1,540 per tonne. Shanghai Metals Market expects the contract to trade at US$1,530-1,600 per tonne today. As on Thursday March 26, LME aluminium cash (bid) price stands at US$ 1507.50 per tonne, LME official settlement price stands at US$ 1507.50 per tonne; 3-months bid price stands at US$ 1539.50 per tonne, 3-months offer price is US$ 1539.50 per tonne; Dec 21 bid price stands at US$ 1656 per tonne, and Dec 21 offer price stands at US$ 1656 per...
Australia's loss-making aluminium smelters have warned their possibility of returning might get reduced post joining the society for COVID-19 lockdowns and appealed government to exempt them. A scruple of industries, including police, resources and healthcare workers have been told to keep working through the epidemic because they are deemed "essential" to the community or the economy. Rio Tinto, Alcoa, Rusal and Alumina Ltd., the constituents of the Aluminium council has asked to join the ranks of "essential" industries and argued for their entire supply chain to also win an exemption The council in a joint statement with the Australian Workers Union said:'' Our sites rely on these small to medium-sized businesses, who supply specialist skills, products and services for the continued...
Emirates Global Aluminium, the world’s largest premium aluminium producer, has revealed its financial and operational reports of 2019, where it has mentioned that its revenue totalled at AED 20.5 billion ($5.6 billion) during the year. In 2018, EGA’s revenue was AED 23.5 billion ($6.4 billion), which means 2019 saw a drop in revenue of about 12 per cent. The primary reason for the revenue downfall could be attributed to the lower world prices of aluminium, although partially offset by a higher sales volume of value-added products. As per the report, EGA’s adjusted EBITDA came in at 2.5 billion ($693 million) in 2019, compared to AED 4.4 billion ($1.2 billion) in 2018. Lower prices for finished metals were one of the reasons for this fall, besides proportionately higher prices for raw...
