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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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...
Jean-Sebastien Jacques, CEO, Rio Tinto, will be meeting the federal and State Government ministers of Australia about to discuss on the future of Tomago Aluminium smelter. Mr Jean-Sebastien will meet the New South Wales government representatives coming week as the smelter is confronting a threat of existence due to the demand for high power and costs. The global push for zero emissions and an uncertain Australian energy future is also included in the threat. The meeting is coming up just after weeks Rio Tinto pledged $1.5 billion over the next five years to neutralise its greenhouse gas emissions and become a net-zero emitter by 2050, raising even more concerns about the future of its high-emissions smelters. Mr Jean-Sebastien has already met with Angus Taylor, Federal Energy Minister....
According to the latest report from the US Geological Survey, US domestic primary aluminium production stood at 89,000 tonnes in November 2019. The average daily production was 2,980 tonnes, slightly up from October 2019 and November 2018. The output increased by 47 per cent from November 2017. Total aluminium recovered from scrap was 271,000 tonnes in November, slightly less than the amount in October. That was down 10 per cent from November 2018 and 6 per cent from November 2017. Of this, 145,000 tonnes of aluminium was recovered from new scrap and 126,000 tonnes was recovered from old scrap. Inventories of primary aluminium in LME-approved warehouses in the United States decreased to 5,025 tonnes at the end of November. Inventories of secondary aluminium (North American Secondary...
Press Metal has become a new Production & Transformation member of Aluminium Stewardship Initiative (ASI). This brings the total number of members working toward a responsible aluminium value chain to 115. Press Metal is a Malaysian-based aluminium company with extensive global presence. The company is the largest integrated aluminium producer in South East Asia. Press Metal has current smelting capacity of 760,000 tonnes and an extrusion capacity of 210,000 tonnes per annum. “As a responsible corporate citizen, ESG compliance is the commitment we keep close to our hearts. We believe joining ASI will complement our efforts along the journey,” said Mr David Tan Hung Hoe, Head of Corporate Affairs. ASI is a global, multi-stakeholder, non-profit standards setting and certification...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.488 million tonnes as of Thursday, 5 March 2020, an increase of 103,000 tonnes from February 27. Aluminium inventories increased this week, as demand recovered slowly amid the ongoing coronavirus outbreak. 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 374,000 tonnes. The current status of primary aluminium inventories across China is given in the chart below: A00 aluminium ingot price recorded an increase of RMB10 per tonne on Friday, 06 March 2020 after rising by RMB50 per tonne on Thursday. Ingot price increased from RMB13060 per tonne to RMB13070...
The US dollar slipped to a fresh eight-week low as US benchmark 10-year Treasury yields declined and traders bet the Federal Reserve will cut interest rates further, after slashing them by 50 basis points this week. The dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since January 2 at 96.51. Three-month LME aluminium trimmed some losses after it dipped to a session low of US$ 1,722.5 per tonne, which remained above the five- and 20- day moving average. It finished the day 0.35 per cent lower at US$ 1717.5 per tonne, with open interest up 2,625 lots to 744,000 lots as longs loaded up their positions. Today, LME aluminium is expected to hover range-bound between US$1,700 per tonne and US$ 1,730 per tonne. As of Thursday, March 5,...
The Vice-President of Ghana, Mahamadu Bawumia stated: “The African Development Bank’s (AfDB) support for Ghana has boosted its government’s efforts to consolidate the economy”. Bawumia, during the welcome session of a team executive directors and senior officials of the African Development Bank on an official visit, praised various bank-supported projects. He added “Those are areas very critical for us and we are happy to have the African Development Bank helping us. You have been in the trenches with us and things are now going well.” The African Development Bank delegation, led by Bright Okogu, executive director for Nigeria and Sao Tome & Principe, meet local authorities, the private sector, civil society, and other development collaborators. The Vice-President was very much clear in...
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a hike of RMB 50 per tonne on Thursday, March 5, followed a significant decline of RMB 130 per tonne to RMB 13,010 per tonne. The ingot price today stands at RMB 13,060 per tonne, down by RMB 330 per tonne week-on-week. This indicates the Chinese primary aluminium prices are currently recording rapid downfall due to the continued weak demand among downstream consumers and surge in inventories. The average prices, as of today, are expected to range between RMB 13,040 per tonne and RMB 13,080 per tonne, with spot contract to be traded at a discount price of RMB 70 per tonne to RMB 30 per tonne. The price in Gongyi has grown the highest by about RMB 85 per tonne to RMB 13,000 tonnes, followed by Shenyang, where...
The US dollar recovered lost ground on Wednesday, March 4, after a day of an emergency interest rate cut by the Federal Reserve knocked the greenback to an eight-week low. The dollar index, which tracks the greenback against a basket of other currencies, bounced back 0.43% and hit an intraday high of 97.6. Three-month LME aluminium slipped to as low as US$ 1,717 per tonne overnight before easing some losses and ending down 0.26 per cent on the day. Limited improvement in fundamentals kept aluminium prices under pressure. LME aluminium is expected to be traded between US$1,705 per tonne and US$ 1,750 per tonne. LME aluminium cash (bid) price, as of Wednesday, March 4, continued to extend its growth significantly by US$ 17 per tonne to stand at US$ 1722.5 per tonne, while LME official...
The Russian aluminium giant Rusal anticipates the coronavirus epidemic to negatively affect the aluminium market in China during the first half of 2020. On 28 th February’20 the company stated that its Hong Kong-listed shares down by11% to a 2-month low. Multiple countries from various continents are reporting their coronavirus affected numbers. Though medical science is trying hard to get rid of this pandemic virus, investors are dumping their equities as they are expecting a global recession. Rusal, the world’s largest aluminium producer outside China presumes the coronavirus to stimulate a bigger aluminium supply surplus and weaker demand than formerly expected. The alumina refining in China, in a few particular areas, got suffered due to logistical issues for both bauxite arrivals and...
Vedanta Ltd’s Jharsuguda bagged the prestigious CII- EHS Award 2019 at the 15th State Level Competition on Best Practices in Environment, Health and Safety (HSE). Mr. Chhavi Nath Singh, CEO of Vedanta Ltd., Jharsuguda said, “As the largest producer of primary aluminium in the country, we are nation builders and the country’s partners in progress. Our actions are guided by the robust Vedanta Sustainability Framework, and best-in-class Health, Safety, and Environment practices form the core of our business. We are committed to continuous improvement in this domain, leveraging global expertise and advanced digital interventions to enhance EHS standards at our operation.” Mr. Ajay Pandey, Head – HSE & Sustainability, Ms. Sasmita Rani Dash, Lead – HSE VSAP (Jharsuguda) and Mr. Manoj Kumar...
The US dollar fell across the board after the US Federal Reserve cut interest rates on Tuesday, March 3, in an emergency move designed to shield the economy from the impact of the coronavirus.The dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since January 8 at 96.92. In a statement, the US central bank said it was cutting rates by a half percentage point to a target range of 1.00% to 1.25%. Three-month LME aluminium 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, as the surprise interest rate cut from Fed lifted market sentiment. Trading range is expected at US$ 1,705 per tonne to US$ 1,750 per tonne. LME aluminium cash (bid) price, on Tuesday, March 3,...
A00 aluminium ingot price registered a drop of RMB 130 per tonne or 0.99 per cent from Tuesday’s price of RMB 13140 per tonne. The price now stood at RMB 13010 per tonne and is expected to move within a range of RMB 12990-13030 per tonne. Spot aluminium contract is likely to be traded at a discount of RMB 100-60 per tonne. In Foshan and Wuxi, the price fell by RMB 130 per tonne and RMB 140 per tonne to stand at RMB 13010 per tonne each. Their average prices are expected to range within RMB 12990-13030 per tonne and RMB 13000-13020 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 13020 per tonne each, down RMB 140 per tonne each. Their average prices are expected to range within RMB 13010-13030 per tonne and RMB 13000-13040 per tonne. Aluminium ingot prices in Shenyang,...
Hindalco Industries Ltd has hiked the prices of aluminium ingots by 1.82% on Tuesday, after cutting it by 1.26% on Friday. With effect from March 3, the aluminium ingot price stands at INR 139,750 per tonne, from INR 137,250 per tonne on February 28. The prices of wire rods and billets have climbed by 1.69% and 1.74% from February 28. The prices of these products now stand at INR 150,350 per tonne and INR 146,350 per tonne, from INR 147,850 per tonne and INR 143,850 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 nearly 7% in the current quarter due to slower demand in China following the coronavirus outbreak. Aluminium operations of the company,...
The US dollar extended its decline on Monday, 02 March 2020. The dollar index, which tracks the greenback against a basket of other currencies, once slipped to the lowest level since January 16, at 97.18. LME base metals increased across the board. LME aluminium gained 0.88%. Three-month LME aluminium ended 0.88% higher on the day at US$1,716.5 per tonne. The contract is likely to trade between US$1,680-1,730 per tonne today. As on Monday March 2, LME aluminium cash (bid) price stands at US$ 1684 per tonne, LME official settlement price stands at US$ 1684.5 per tonne; 3-months bid price stands at US$ 1699 per tonne, 3-months offer price is US$ 1700 per tonne; Dec 21 bid price stands at US$ 1825 per tonne, and Dec 21 offer price stands at US$ 1830 per tonne. The LME aluminium opening stock...
After the three consecutive declines to RMB 13,050 per tonne, as of March 2, the A00 aluminium ingot price has recorded a rise of RMB 90 per tonne on 3 rd of March to come in at RMB 13,140 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 13,120 per tonne and RMB 13,160 per tonne, with spot contract to be traded at a discount price of RMB 110 per tonne to RMB 70 per tonne. Wuxi and Hangzhou have seen the highest rise of RMB 120 per tonne today to RMB 13,150 per tonne and RMB 13,160 per tonne, respectively. In Shenyang, the price has increased by RMB 110 per tonne to RMB 13,165 per tonne, while that in Chongqing and Gongyi by RMB 100 per tonne to stand respectively at RMB 13,160 per tonne and RMB 13,060 per tonne. In Foshan, Linyi, and Tianjin,...
The National Award for Export Excellence – Star performer for 2017-18 has been awarded to Jindal Aluminium. This prestigious award by the Engineering Export Promotion Council (EEPC) has recognised Jindal Aluminium as the highest exporter in the group of 'aluminium & articles thereof’ under Large Enterprise Category.' The trophy and certificate of this honour has been presented to Anil Agarwal, President of Jindal Aluminium at an event in New Delhi by BS Bhalla, additional secretary, Ministry of Commerce in the presence of other dignitaries of EEPC-India, Kamna Raj Aggarwal, regional chairperson, Mahesh K Desai, Sr. VC, Ravi Sehgal, Chairman, and Arun Kumar Garodia, VC. Pragun Jindal Khaitan said, “We are very humbled to have been honoured on such a valued platform. We as an organisation...
According to Shanghai Metals Market, Shandong Weiqiao Group, the top aluminium producer in China has raised the benchmark purchasing price of prebaked anode for the second month in a row. For March 2020, the company has hiked the benchmark purchasing price by RMB 210 per tonne to RMB 2,830 per tonne in cash. The benchmark price by acceptance is set at RMB 2,865 per tonne. The prebaked anode price in the east has recorded an increase of RMB 210 per tonne to RMB 3,000 per tonne on March 2, after remaining flat at RMB 2,790 per tonne since February 4. The price is likely to move within a range of RMB 2,830- 3,170 per tonne. The markets in the central and southwest China have also witnessed an increase of RMB 210 per tonne and RMB 100 per tonne to RMB 3,060 per tonne and RMB 3,370 per tonne....
