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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The US dollar extended its gains against a broad range of currencies on Wednesday, surpassing the 100 mark for the first time since 2017, as companies and investors worried by the coronavirus outbreak rushed to the world’s most liquid currency. Three-month LME aluminium rebounded in European and North American trading hours, rising from a new 41-month low of US$ 1,613 per tonne to end at US$ 1,638.5 per tonne. It is likely to move between US$ 1,600 per tonne and US$ 1,650 per tonne today. As of Wednesday, March 18, LME official settlement price stood at US$ 1602.5 per tonne, after inching down for the third consecutive day. But Dec 21 bid price inched up to US$ 1820 per tonne from US$ 1748 per tonne on the previous day and Dec 21 offer price to US$ 1825 per tonne from US$ 1753 per tonne....
According to the National Bureau of Statistics, aluminium production in China during January-February 2020 increased 2.4 per cent year-on-year to come in at 5.85 million tonnes. The bureau has revealed no separate production figure for January and February due to the extended holiday for Coronavirus outbreak followed after a week-long Lunar New Year holiday. Reuters calculations found that the combined average production during January and February stood at 97,500 tonnes a day, down from 98,000 tonnes a day in December, the third-highest daily rate on record. “The point is that metal has continued to come out at about the same rate and probably even rose a little in February … but demand has collapsed,” said Paul Adkins, managing director of consultancy AZ China. Unlike factories that...
Bahrain was the pioneer country in the Arab region to start an aluminium smelter. Starting as a 120,000 tonne per annum smelter in 1971, Alba today is a 1.36-plus million tonnes smelter. As the on-going global headwinds, volatile LME price and weak economic sentiment across the markets, Aluminium Bahrain B.S.C. (Alba) remains committed to ensuring the safety of its employees and contractors. Alba focuses to achieve its production target of more than 1.54 million tonnes by 2020 Production and continue to be a lean aluminium producer by building on the legacy of its cost-improvement Project Titan Programme. On this occasion, Alba’s Chief Executive Officer Ali Al Baqali emphasised: “Alba can only control what is intrinsic to its operations i.e. Safety, Production and Cost. In light of the...
Norway is ranked as the fourth largest aluminium exporter in the world and has occupied a 5.8% share of a worldwide export market that is worth $41.7 billion annually. Norway’s total aluminium export from 2017-19 was recorded at 4.55 million tonnes. The export forecast for 2020 has been at 1.3 million tonnes, when adding from 2017-19 it stands at 5.85 million tonnes cumulatively. In 2017 the aluminium export was recorded at 1.61 million tonnes, whereas in 2018 a fall by 4.34% export has been noticed and the total export volume stood at 1.54 million tonnes. The aluminium export volume in 2019 shows a negative trend, as there is a downfall of 9.09%. The total export volume stood at 1.40 million tonnes and the revenue earned was recorded at $2.55 billion. The projection for Norway’s...
According to Shanghai Metals Market, the A00 aluminium ingot price has continued to record a decline today, as on March 18. Registering a fall of RMB 80 per tonne, the price today is RMB 12,520 per tonne. The average prices are expected to range between RMB 12,500 per tonne and RMB 12,540 per tonne, with spot contract to be traded at a discount price of RMB 100 per tonne to RMB 60 per tonne. In Foshan and Chongqing, the ingot price has recorded a decline of RMB 80 per tonne as well to stand at RMB 12,500 per tonne and RMB 12,530 per tonne, respectively. Linyi has seen the highest downfall of RMB 200 per tonne to RMB 12,650 per tonne. In Wuxi, the price has dwindled by RMB 70 per tonne, followed by Hangzhou and Chongqing, where the price has plunged by RMB 60 per tonne. In Gongyi and...
The US dollar surged against a broad range of currencies on Tuesday as companies and investors sought out the most liquid currency as concerns about economic shutdowns from the coronavirus continued to dent risk appetite. Three-month LME aluminium rebounded somewhat in North American trading hours from sharp losses in European trading hours. It later eased again, returning to its lowest since October 2016 at US$ 1,639 per tonne and ended at US$ 1,643 per tonne. The unwinding of long positions primarily accounted for the plunge in LME aluminium on Tuesday. It is likely to move between US$ 1,640 per tonne and US$ 1,700 per tonne today. As of Tuesday, March 17, LME aluminium cash (bid) price extended decline to US$ 1627.50 per tonne and LME official settlement price to 1628 per tonne....
The Bosnian official authorities stated that a company from the town of Zvornik held talks with Iranian officials for selling aluminium oxide. This could have been used in Tehran’s nuclear programme. Fahrudin Radoncic, Bosnian Security Minister published on 16 th March’20 that a Bosnian company had discussed with officials at the Iranian embassy in Sarajevo for the possibility of selling aluminium oxide powder to Tehran in breach of US and EU sanctions. <iframe width="500" height="300" src="https://www.youtube.com/embed/bBbcVJJjc5U" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> According to reports from Bosnia: “the Executive Directors of a company called Alumina spoke to the Iranians about arranging the purchase...
The US dollar fell against a broad range of currencies after Wall Street sank overnight even as the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak. Three-month LME aluminium rebounded towards the US$ 1,700 per tonne mark after touching an intraday low of US$ 1,654 per tonne. It later eased to end at US$ 1,681 per tonne. LME aluminium is likely to move between US$ 1,640 per tonne and US$ 1,700 per tonne today. As of Monday, March 16, LME aluminium cash (bid) price came in at US$ 1640 per tonne and LME official settlement price stood at US$ 1640.5 per tonne after declining by US$ 36.5 per tonne from Friday, March 13. 3-months bid price slipped from US$ 1695 per tonne to US$ 1654 per tonne, while 3-months offer...
RUSAL, the leading global aluminium producer has declared the introduction of additional preventive measures in response to the current issue of “Corona-virus” to best ensure the health and safety of all employees. Starting from 17 th March’20 employees from head office and staff who are not involved in the production process will be told to work from home. Operations will continue uninterrupted. There will be exceptions if only be made in the instance when the tasks cannot be performed without coming to the office. All staff who will be working from home has been strongly advised against attending public functions or unnecessarily going to public spaces. Everyone who is currently on a business trip is required to return as soon as possible. All new business trips have been put on pause....
Building on the success of the E-Magazine “Aluminium Industry 4.0: Drivers & Change Makers” last year, AlCircle this time has again come up with a report on “ Industry 4.0 in Aluminium ” on readers’ demand, but with more insightful information. Since the Industry 4.0 is one of the most talked about topics in the technology and industrial sector including the aluminium value chain industry and as many seasoned plant operators are still not completely aware of the full potential of such technologies, AlCircle.com perceives the importance of discussing the topic yet again and thus, the report being launched titled “ Industry 4.0 in Aluminium.” Being an exclusive aluminium industry portal, AlCircle is committed to explore and provide information on any technological innovations that are...
Shanghai Metals Market found social inventories of primary aluminium ingots increased 38,000 tonnes over the weekend ended Monday, March 16, across eight major consumption areas, including SHFE warrants. The inventories stood at 1.631 million tonnes in contrast to 1.559 million tonnes on Monday, March 9, and 1.593 million tonnes on Thursday, March 12. SMM survey revealed the eight areas, except for Henan’s Gongyi, saw the stocks gaining over the weekend. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, Shanghai, and Nanhai, the inventories, as of March 16, are standing higher by 53,000 tonnes, 8,000 tonnes, and 18,000 tonnes from last Monday at 639,000 tonnes, 152,000 tonnes, and 417,000 tonnes, respectively. In Hangzhou...
The aluminium industry has moreover well performed in terms of sustainability. It’s amazing to know that 75% of all the aluminium ever produced is still in use today, but demand for the metal is growing at a rapid pace those mining projects continues to be an important source of the commodity. The global demand for aluminium is set to expand by a compound annual growth rate of 4.25% between 2019 and 2025. The global demand for aluminium cannot be satisfied by recycled aluminium alone, a great deal of environmental responsibility still resides with mining firms producing this valuable commodity. Norsk Hydro, one of the largest employs 35,000 people across 40 countries and is present across all continents. <iframe width="500" height="300" src="https://www.youtube.com/embed/SQVvHMowbKk"...
Hindalco Ltd has raised prices of its aluminium ingots by 1.79% from Friday. With effect from March 14, the price for Hindalco aluminium ingots now stands at INR 142,500 per tonne, from INR 140,000 per tonne on March 13. The company has hiked aluminium ingot price after cutting the price of the same product by 1.06% earlier in the week. The prices of wire rods and billets have climbed by 1.66% and 1.71% from March 13 to stand at INR 153,100 per tonne and INR 149,100 per tonne on Saturday, 14 March 2020. The prices of these products were INR 150,600 per tonne and INR 146,600 per tonne on March 13. 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 nearly 9% in...
The dollar fell against a broad range of currencies on Friday, 13 March. LME base metals rallied to close mostly higher on Friday. LME aluminium rose 1.7%. Three-month LME aluminium rose past the US$1,700 per tonne mark before erasing some gains to end at US$1,690 per tonne. Shanghai Metals Market expects the contract to trade at US$1,670-1,710 per tonne today. As on Friday March 13, LME aluminium cash (bid) price stands at US$ 1676.5 per tonne, LME official settlement price stands at US$ 1677 per tonne; 3-months bid price stands at US$ 1695 per tonne, 3-months offer price is US$ 1696 per tonne; Dec 21 bid price stands at US$ 1798 per tonne, and Dec 21 offer price stands at US$ 1803 per tonne. The LME aluminium opening stock dropped to 987175 tonnes. Live Warrants totalled 797800 tonnes,...
Iran’s aluminium production capacity is expected to reach 775,000 tonnes in the current Iranian calendar year (ends on March 19 th ). The figure clearly states 60% more than the previous year. As per the reports of the country’s national development plan for the mining sector and based on the industry, Mining and Trade Ministry’s four-year development program, the country’s aluminium ingot production is expected to reach 629,000 tonnes by the end of the current Iranian calendar year. This is 244,000 tonnes more than the previous year’s total production. <iframe width="500" height="300" src="https://www.youtube.com/embed/mkEWyLez9x8" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> The aluminium production capacity of...
In 2019, the entire aluminium value chain industry saw a challenging environment. The average aluminium price on the London Metal Exchange declined from US$ 2,110 per tonne in 2018 to US$ 1,792 per tonne. As a result, Rusal’s revenue for the year ended December 31 recorded a decrease of 5.5 per cent from US$ 10,280 million in 2018 to US$ 9,711 million in 2019, despite the growth in metal production. Rusal’s total bauxite output in 2019 had grown by about 16 per cent from 13.847 million tonnes in 2018 to 16.047 million tonnes. Alumina production also grew, although lesser in comparison to bauxite, from 7.774 million tonnes in 2018 to 7.858 million tonnes in 2019. The production of aluminium foil and packaging products stood at 98,000 tonnes in 2019, registering a growth of 10.2 per cent...
Donald Trump has slapped tariffs on aluminium imports from Europe and threatened broader trade action, notably against European carmakers. This was his outcome if the US cannot strike a fair deal. The European Union hits out at President Donald Trump’s unilateral decision to restrict travel from Europe to the United States due to the coronavirus epidemic. An official of the EU said: “the illness does not respect borders”. American President Donald Trump has called the disease a foreign virus and claimed that US clusters were seeded by European travellers. The President stated that all European travel would be cut off, but US officials later said restrictions would apply only to most foreign citizens who have been in Europe’s passport-free travel zone at any point for 14 days before their...
The US dollar rose sharply on Thursday, 12 March. The dollar index, which tracks the greenback against a basket of other currencies, increased to the highest level in two weeks at 98.33. LME base metals fell across the board on Thursday. LME aluminium eased 0.63%. LME three-month aluminium slipped to a session low of US$1,652 per tonne, before it ended down 0.63% on the day at US$1,661.5 per tonne. LME aluminium is likely to trade between US$1,640-1,690 per tonne today. As on Thursday March 12, LME aluminium cash (bid) price stands at US$ 1642 per tonne, LME official settlement price stands at US$ 1643 per tonne; 3-months bid price stands at US$ 1657 per tonne, 3-months offer price is US$ 1658 per tonne; Dec 21 bid price stands at US$ 1760 per tonne, and Dec 21 offer price stands at US$...
