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
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$...
According to Shanghai Metals Market, the A00 aluminium ingot price today, March 13 has dropped for the third consecutive day. As per the data, the price has plunged by RMB 100 per tonne to stand at RMB 12,650 per tonne. The average prices are expected to range between RMB 12,630 per tonne and RMB 12,670 per tonne, with spot contract to be traded at a discount price of RMB 40 per tonne to RMB 0 per tonne. In two of the Chinese cities Chongqing and Linyi, the aluminium ingot price has dropped by RMB 100 per tonne as well to come in at RMB 12,660 per tonne and RMB 12,750 per tonne. In Foshan, Shenyang, and Wuxi, the price has declined by RMB 90 per tonne to RMB 12,640 per tonne, RMB 12,705 per tonne, and RMB 12,630 per tonne, respectively. The price in Hangzhou and Gongyi has plunged by RMB...
Hindalco Industries Ltd has increased the price of its aluminium ingot after cutting them two times in a row. With effect from March 12, the price for Hindalco aluminium ingot now stands at INR 141,500 per tonne, an increase of 1.25% from INR 139,750 per tonne on March 10. The prices of wire rods and billets have risen by 1.16% and 1.2% from March 10. The prices of these products stand at INR 152,100 per tonne and INR 148,100 per tonne on March 12, from INR 150,350 per tonne and INR 146,350 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 due to slower demand in China following the coronavirus outbreak. Aluminium operations of the company,...
A00 aluminium ingot price decreased by RMB 60 per tonne or 0.47 per cent on Thursday, 12 March 2020. The price now stood at RMB 12750 per tonne and is expected to move within a range of RMB 12730-12770 per tonne. Spot aluminium contract is likely to be traded at a discount of RMB 40 per tonne. In Foshan and Wuxi, the price fell by RMB 80 per tonne and RMB 100 per tonne to RMB 12730 per tonne and RMB 12720 per tonne. Their average prices are expected to range within RMB 12710-12750 per tonne and RMB 12710-12730 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 12730 per tonne and RMB 12760 per tonne, down RMB 90 per tonne and RMB 70 per tonne. Their average prices are expected to range within RMB 12720-12740 per tonne and RMB 12740-12780 per tonne. Aluminium ingot prices...
The US dollar declined before recovered some losses on Wednesday, as fears over the coronavirus pushed investors into safe havens, while sterling rebounded after the Bank of England unexpectedly cut interest rates. The Standard & Poor's 500 Index plunged again on Wednesday, narrowly avoiding its first bear market since the financial crisis after the World Health Organization declared a global pandemic as the coronavirus rapidly spreads across the world. Three-month LME aluminium relinquished gains from the previous session as it closed 1.76 per cent lower on the day at US$ 1,672 per tonne. The stock market panic is likely to keep base metals under pressure, with LME aluminium trading between US$ 1,640 per tonne and US$ 1,700 per tonne. As of Wednesday, March 11, LME aluminium cash (bid)...
After remaining restrained last day, followed by a significant decline of RMB 240 per tonne, the A00 aluminium ingot price has recorded a plunge yet again of RMB 20 per tonne, as on March 11, according to Shanghai Metals Market. The ingot price, thus, stands at RMB 12,810 per tonne, as of today. The average prices are expected to range between RMB 12,790 per tonne and RMB 12,830, with spot contract to be traded at a discount price of RMB 50 per tonne to RMB 10 per tonne. Among all the major Chinese cities, Tianjin has witnessed a drop of RMB 20 per tonne to RMB 12,820 per tonne, while Chongqing, Shenyang, and Gongyi have seen a dip of RMB 10 per tonne to RMB 12,830 per tonne, RMB 12,865 per tonne, and RMB 12,730 per tonne, respectively. Other cities like Wuxi and Linyi, on the other hand,...
Hindalco Industries Ltd has reduced the prices of aluminium ingots by 1.89% on Saturday, 7 March, after raising the price of the same product by 1.93% on Thursday. With effect from March 7, the price for Hindalco aluminium ingots now stands at INR 142,500 per tonne, down from INR 145,250 per tonne on March 5. The prices of wire rods and billets have dropped by 1.76% and 1.81% from March 5 to stand at INR 153,100 per tonne and INR 149,100 per tonne on Saturday, 7 March. The prices of these products were INR 155,850 per tonne and INR 151,850 per tonne on March 5. <iframe width="500" height="350" src="https://www.youtube.com/embed/aFwqfqYpc0Y" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> The Indian aluminium...
After a sharp decline of RMB 240 per tonne last day, the price of A00 aluminium ingot in China has remained restrained today, on March 10, at RMB 12,830 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 12,810 per tonne and RMB 12,850 per tonne, with spot contract to be traded at a discount price of RMB 40 per tonne to RMB 0 per tonne. But many of the major Chinese cities, except Hangzhou and Linyi, have seen a plunge in A00 aluminium ingot price. In Hangzhou and Linyi, the price has remained unchanged at RMB 12,820 per tonne and RMB 12,920 per tonne, respectively, while Shenyang has seen a drop of RMB 75 per tonne to RMB 12,840 per tonne. In Foshan, Wuxi, and Chongqing, the ingot price has slipped by RMB 10 per tonne to stand respectively at...
The US dollar dived against the euro and yen on Monday, 9 March. The dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since September 2018 at 94.63. LME aluminium gained 0.21%. Three-month LME aluminium dropped to the lowest level since October 2016 at US$1,644 per tonne, before it regained the losses and closed up 0.21% on the day at US$1,694 per tonne. Shanghai Metals Market expects the contract to trade at US$1,650-1,710 per tonne today. As on Monday March 9, LME aluminium cash (bid) price stands at US$ 1643 per tonne, LME official settlement price stands at US$ 1643.5 per tonne; 3-months bid price stands at US$ 1665.5 per tonne, 3-months offer price is US$ 1666.5 per tonne; Dec 21 bid price stands at US$ 1783 per tonne, and Dec...
The American president Donald Trump applauded the US relationship with Brazil in the reign of Jair Bolsonaro, President of Brazil. Though there were no assurances from President Trump concerning the aluminium tariffs on the South American country. <iframe width="500" height="300" src="https://www.youtube.com/embed/qsJ17qkUJfk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> The President of the two nations meets for a dinner at Trump’s Mar-a-Lago resort in Florida. Ahead of the dinner, Trump was asked if he would continue to hold off placing new tariffs on Brazilian aluminium, he replied: “the United States had helped Brazil, but would not make any promises regarding tariffs”. The two biggest economies of the...
The US dollar rebounded on Tuesday after consecutive days of major losses, as signs of global policy easing to cushion the economic impact from the COVID-19 epidemic eased some of the investors’ concerns. The dollar index, which tracks the greenback against a basket of other currencies, climbed to the highest level this week at 96.6 and recorded the biggest gain in the past three years. Three-month LME aluminium climbed to an intraday high of US$ 1,714 per tonne on a rebound in crude oil prices and finished the day 0.77 per cent higher at US$ 1,702 per tonne. The trading range is expected between US$1670 per tonne and US$ 1720 per tonne today. After continuing decline till Monday, LME aluminium cash (bid) price on Tuesday, March 10, recorded a significant growth of US$ 45.5 per tonne to...
On the further rise of the social inventories of primary aluminium, the A00 aluminium ingot price has recorded a sharp decline of RMB 240 per tonne to RMB 12,830 per tonne. For the first time in the last one year, the A00 aluminium ingot price has come below the RMB 13,000 per tonne level. The average prices are expected to range between RMB 12,810 per tonne and RMB 12,850 per tonne, with spot contract to be traded at a discount price of RMB 50 per tonne to RMB 10 per tonne. In Foshan, Wuxi, and Hangzhou, the price has witnessed a drop of RMB 240 per tonne and stands at RMB 12,820 per tonne. In Gongyi, the price has declined by RMB 235 per tonne to RMB 12,745 per tonne and that in Chongqing and Linyi, the price has plunged by RMB 230 per tonne to RMB 12,850 per tonne and RMB 12,920 per...
The US dollar recorded the biggest weekly decline in nearly three years while the Japanese yen strengthened as the widening reach of the coronavirus sent investors scrambling for safety. The dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since February 2019 at 95.7 and finished the week 2.02 per cent lower. Three-month LME aluminium lost 1.86 per cent last Friday, March 6, and finished at US$ 1685.5 per tonne, with US stock futures and crude oil prices slumping over the weekend. Trading range is expected at US$ 1650 per tonne to US$ 1720 per tonne today. As of Friday, March 6, LME aluminium cash (bid) price further declined to US$ 1686.5 per tonne from US$ 1714 per tonne on March 5. LME official settlement price also recorded a...
Hydro, the fully integrated aluminium company, headquartered in Norway, partly owns aluminium plant Albras in Brazil. One of the four production lines of the plant has been close down due to a fire break in an electrical transformer on Friday morning, 6 th February’20. The fire has been extinguished and the incident did not cause any people-related injuries or casualties. The other three lines have not been affected and are running as usual. As per the company officials, it has been stated that: “It remains too early to assess financial implications from the incident as well as timing for restart. Albras will investigate the cause of the fire in cooperation with local authorities.” The total production capacity of Albras is around 460,000 tonnes per year. Hydro owns 51% of Albras, while...
The US dollar fell on the first two day of the week. On Monday, the dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since January 16, at 97.18. On the next succeeding day, it declined further lowest since January 8 at 96.92. On March 4, the currency recovered the ground, with index bounced back 0.43 per cent and hit an intraday high of 97.6; but on March 5, again slipped to a fresh eight-week low to the lowest level since January 2 at 96.51. Three-month LME aluminium ended 0.88% higher on March 2 at US$1,716.5 per tonne. On March 3, it rose to an intraday high of US$ 1,734 per tonne and finished 0.67 per cent higher on the day at US$ 1,728 per tonne. But on March 4, the three-month LME aluminium slipped to as low as US$ 1,717 per...
The price of A00 aluminium ingot in China witnessed fluctuations over the week. The week started with a decline of RMB 120 per tonne or 0.91 per cent from Friday, February 28. The price on Monday stood RMB 13050 per tonne. But the week ended higher at RMB 13070 per tonne on Friday, March 6, up RMB 10 per tonne from Thursday. According to Shanghai Metals Market, the social inventories of primary aluminium in China rose this week, as demand recovered slowly amid the ongoing coronavirus outbreak. The inventories across the eight major consumption areas, including SHFE warrants, stood at 1.488 million tonnes, an increase of 103,000 tonnes from February 27. Primary aluminium stocks in Wuxi and Nanhai climbed 35,000 tonnes and 48,000 tonnes from February 27 to stand at 562,000 tonnes and...
Hindalco Industries Ltd has increased the prices of aluminium ingots by 1.93% on Thursday, after raising it by 1.97% on Wednesday. This is the third time in a row that the company has raised the prices of its products. With effect from March 5, the price for Hindalco aluminium ingots now stands at INR 145,250 per tonne, from INR 142,500 per tonne on March 4. The prices of wire rods and billets have climbed by 1.8% and 1.84% from March 4. The prices of these products now stand at INR 155,850 per tonne and INR 151,850 per tonne on March 5, from INR 153,100 per tonne and INR 149,100 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 due to slower demand...
According to Shanghai Metals Market, the primary aluminium production in China shrank to 2.87 million tonnes in February, but year-on-year it was up by 6.9 per cent. Operating rates were down by 0.2 percentage point from the end of January to 89.3 per cent, as newly-commissioned projects were still ramping up. As of the end of February, the total primary aluminium capacity in operation was 36.6 million tonnes in China, while the existing capacity was 40.99 million tonnes on an annualised basis. China’s total primary aluminium production in the first two months of the year stood 5.1 per cent higher year-on-year at 5.94 million tonnes. That was faster than consumption growth, resulting in soaring inventories. As of March 5, social inventories of primary aluminium stood at 1.49 million...
