LME aluminium prices softened across key contracts on September 23 compared with the previous session, while opening stocks remained broadly stable. The sharpest movement was recorded in cancelled warrants, which declined by more than 20 per cent. The LME aluminium cash bid price stood at USD 3,239.5 per tonne on September 23, down from USD 3,240 per tonne on September 22, a decline of 0.02 per cent. The cash offer price fell to USD 3,240 per tonne from USD 3,242 per tonne, down 0.06 per cent. For the three-month contract, the bid price declined to USD 3,258 per tonne from USD 3,263.5 per tonne, marking a 0.17 per cent decrease. The offer price fell to USD 3,260 per tonne from USD 3,264 per tonne, down 0.12 per cent. The December 2027 aluminium bid price stood at USD 3,180 per tonne,...
Oklahoma Primary Aluminum has released a new economic impact study for its proposed USD 4 billion primary aluminium facility at the Tulsa Port of Inola, projecting a cumulative USD 49 billion contribution to the state’s economy through 2060. The study, prepared by Regional Economic Models Inc, describes the project as a “generational economic anchor” for northeastern Oklahoma, with thousands of jobs, higher household income and significant annual additions to state and national GDP. It was published as the developers face a local construction moratorium, a planned referendum and ongoing environmental and legal reviews. Scale and economic impact The joint venture between Emirates Global Aluminium and Century Aluminum says the 750,000-metric-tonne-per-year smelter would: Generate...
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National Aluminium Company (NALCO) reportedly continued to increase its aluminium ingots prices by nearly 1 per cent for the second time in the week gone by. After the hike, the prices of ingots came in at INR153,950 per tonne to INR 157,450 per tonne, with effect from Tuesday, January 21. In the previous hike, with effect from January 17, NALCO’s aluminium ingots prices stood at INR 152,650 per tonne to INR 156,150 per tonne . <iframe width="550" height="300" src="https://www.youtube.com/embed/8jkh7f7-bTI" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> Like most aluminium producers, Nalco links its prices of aluminium products to the three-month futures of aluminium on London Metal Exchange, which are down over 1%...
Benchmark aluminium price on London Metal Exchange dropped 0.34 per cent to US$ 1775.5 per tonne on Friday, from US$ 1781.5 per tonne on Thursday. As on Friday January 24, LME aluminium cash (bid) price stands at US$ 1775 per tonne, LME official settlement price stands at US$ 1775.5 per tonne; 3-months bid price stands at US$ 1785 per tonne, 3-months offer price is US$ 1786 per tonne; Dec 20 bid price stands at US$ 1915 per tonne, and Dec 20 offer price stands at US$ 1920 per tonne. The LME aluminium opening stock dropped to 1260150 tonnes. Live Warrants totalled 732075 tonnes, and Cancelled Warrants were528075tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1792.15 per tonne. SHFE Aluminium Price Trend Shanghai Futures Exchange is closed for Chinese New Year...
Vedanta has increased the prices of aluminium ingots, billets and wire rods by more than 1% with effect from Wednesday, January 22. This is the second time in a row that the company has raised the prices of its products. The price for Vedanta aluminium ingots now stands at INR 144,750-157,750 per tonne. The company generally links prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are flat so far in the quarter. The aluminium business accounted for a third of Vedanta's consolidated sales in the September quarter. Vedanta’s net sales stood at INR 21,739 crore, down from INR 22,432 crore in the same period last year. The company, which has a stake in Bharat Aluminium Co Ltd and smelters at Jharsuguda in Odisha,...
Benchmark aluminium price on London Metal Exchange dropped 1.44 per cent to US$ 1781.5 per tonne on Thursday, January 23, from US$ 1807.5 per tonne on Wednesday. As on Thursday January 23, LME aluminium cash (bid) price stands at US$ 1781 per tonne, LME official settlement price stands at US$ 1781.5 per tonne; 3-months bid price stands at US$ 1793 per tonne, 3-months offer price is US$ 1794 per tonne; Dec 20 bid price stands at US$ 1923 per tonne, and Dec 20 offer price stands at US$ 1928 per tonne. The LME aluminium opening stock dropped to 1276850 tonnes. Live Warrants totalled 738150 tonnes, and Cancelled Warrants were 538700 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1801.58 per tonne. SHFE Aluminium Price Trend Shanghai Futures Exchange is closed for...
Hindalco Industries Ltd has increased the prices of aluminium ingots, billets, and wire rods by nearly 1%. With effect from January 22, the aluminium ingot price now stands at INR 146,750 per tonne, an increase of 0.86% from INR 145,500 per tonne on January 18. This is the second time in a row that the company has raised the prices of its aluminium ingots. Hindalco has raised the prices of wire rods and billets by 0.8% and 0.82% from January 18. The prices for Hindalco products now stand at INR 157,350 per tonne and INR 153,350 per tonne, from INR 156,100 per tonne and INR 152,100 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 up less than 1% so far...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 690,000 tonnes as of Thursday, 23 January 2020, up 60,000 tonnes. Aluminium inventories jumped ahead of the Chinese New Year on higher arrivals and muted consumption. 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 Thursday after declining three days in a row. Ingot price increased from RMB14090 per tonne to RMB14100 per tonne. The price is expected to range at RMB14080-14120 per tonne. Spot aluminium contract is likely to be traded at a discount of RMB110 per tonne to premium of RMB70 per tonne. Aluminium ingot price in...
The US dollar on Wednesday fell against a basket its rivals, easing off one-month highs. LME base metals, except for lead, closed lower across the board on Wednesday. LME aluminium declined 1% and SHFE aluminium traded higher. LME aluminium closed Wednesday’s trading at US$ 1807.5 per tonne, down from US$ 1810.5 per tonne. Three-month LME aluminium climbed to its highest in more than two weeks at US$1,834 per tonne on Wednesday, before it eased to end down 0.96% at US$1,809.5 per tonne. As on Wednesday January 22, LME aluminium cash (bid) price stands at US$ 1807 per tonne, LME official settlement price stands at US$ 1807.5 per tonne; 3-months bid price stands at US$ 1817 per tonne, 3-months offer price is US$ 1819 per tonne; Dec 20 bid price stands at US$ 1945 per tonne, and Dec 20 offer...
Garnalex has been honoured with the ‘Made in Britain’ mark of origin. Made in Britain is an organisation that acknowledges excellence in manufacturing and promotes British-made products across all sectors. It’s prime focus to bring together the best manufacturers in the UK under the single umbrella of Made in Britain logos. The organization delivers confidence and clarity to the businesses and consumers that they are buying British. Commenting on the accreditation, Garnalex CEO Roger Hartshorn says: “Currently 190,000 tons of extruded aluminium is consumed in the UK, but only 110,000 tons is made in the UK. We plan to make a big dent in those import statistics! The raw aluminium comes from Wales, so this is your chance to reduce Britain’s carbon footprint and buy British. We’ve spent over...
AlCircle has come up with a new report “Global Aluminium Industry Outlook 2020” two weeks after the launch of Aluminium Industry Recap 2019. The year 2019 saw economic downturn in many regions of the world, particularly in China, combined trade issues raised by the US, resulted in significant slow-down in aluminium demand and plunge in aluminium prices. Industry players and market participants have downwardly revised its forecast for aluminium demand for 2020. During the first half of 2020, lack of clarity on resolving the trade issues between China and the US will leave the aluminium industry in some uncertainty. But in the long run, the outlook of the aluminium industry remains optimistic. Various geo-political issues are also expected to compound the mounting stress on the economies of...
Dharmendra Pradhan, Union Petroleum Minister, Govt. of India on 21 st January’20 declared that centre has agreed to reinstate the project for the up-gradation of infrastructure at the Angul Aluminum Park in Odisha. Mr. Pradhan expressed his gratitude towards Union Commerce Minister Piyush Goyal for consenting to his request to restart the project. Mr. Pradhan communicated over twitter "With the renewed focus on ironing out bottlenecks to ensure expeditious completion of the project, the Angul Aluminium Park project, a JV between NALCO and Idco is expected to be completed by July 2020.” The petroleum minister also said that the running cost of the project is INR 99.60 crore, which includes the central government’s grant of INR 33.44 crore. The project will enhance the industrial...
The US dollar recovered from earlier losses to hold near a one-month high against a basket its rivals on Tuesday. Three-month LME aluminium rose to its highest in more than a week at US$1,827 per tonne, up 0.55% on the day. The contract is likely to trade between US$1,800-1,830 per tonne today. As on Tuesday January 21, LME aluminium cash (bid) price stands at US$ 1810 per tonne, LME official settlement price stands at US$ 1810.5 per tonne; 3-months bid price stands at US$ 1817.5 per tonne, 3-months offer price is US$ 1818 per tonne; Dec 20 bid price stands at US$ 1942 per tonne, and Dec 20 offer price stands at US$ 1947 per tonne. The LME aluminium opening stock stood at 1309050 tonnes. Live Warrants totalled 666775 tonnes, and Cancelled Warrants were 642275 tonnes. LME aluminium...
Indonesia Asahan Aluminium (INALUM) has put down long-term intent of tripling its production volume by stretching out operations to the Island of Borneo, as it solicits to resort the region’s profuse bauxite reserves. According to Managing Director, Oggy Achmad Kosasih “The state-owned company known as Inalum plans to boost capacity to 750,000 tons by building a 500,000-ton smelter in North Kalimantan, on the Indonesian side of Borneo, as power supply constraints limit the expansion of its sole facility in Kuala Tanjung, North Sumatra”. He did not communicate any timelines for this upscale. The Managing Director added “The existing smelter relies on electricity from a hydro plant that can only provide enough power for 250,000 tons of aluminum a year, Kosasih said in an interview on Monday...
According to the Shanghai Metals Market, the A00 aluminium ingot price has extended its decline today, on January 22, by RMB 30 per tonne to stand at RMB 14,090 per tonne. The average prices are expected to range between RMB 14,070 per tonne and RMB 14,110 per tonne, with spot contract to be traded at a discount price of RMB 110 per tonne to RMB 70 per tonne. Over the last three days, the A00 aluminium ingot price in China has seen ceaseless declines right from RMB 14,550 per tonne to RMB 14,090 per tonne, due to which the price of the metal is down by 350 per tonne or 2.42 per cent month-on-month. During the same period last month, the A00 aluminium ingot price was RMB 14,440 per tonne. Rise in primary aluminium inventories over the last two weeks and weak consumption before the Chinese...
Global primary aluminium production totalled 5.435 million tonnes in December, with a year-on-year drop of 1.11%, according to the latest data showed by the International Aluminium Institute (IAI) on Monday, 20 January 2020. The output rose by 3.35% from 5.259 million tonnes in November and 1.61% from 5.349 million tonnes in October. For the full year, primary aluminium came in at 63.690 million tonnes, slightly down by 1% from 64.336 million tonnes in 2018. <iframe width="550" height="300" src="https://www.youtube.com/embed/3mgObirbrN4" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> In Asia ex-China, aluminium production declined by 3.41% year-on-year, but up 2.97% month-on-month to 368,000 tonnes in December....
A00 aluminium ingot price plunged RMB 230 per tonne on Tuesday, 21 January 2020, the biggest drop since April 2018. The price now stood at RMB 14120 per tonne and is expected to move within a range of RMB 14100-14140 per tonne. Spot aluminium contract is likely to be traded at a discount of RMB 100 per tonne to a premium of RMB 60 per tonne. In Foshan and Wuxi, the price fell by RMB 190 per tonne and RMB 210 per tonne to stand at RMB 14210 per tonne and RMB 14090 per tonne on January 21. Their average prices are expected to range within RMB 14190-14230 per tonne and RMB 14080-14100 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14120 per tonne and RMB 14170 per tonne, down RMB 170 per tonne and RMB 210 per tonne. Their average prices are expected to range within RMB...
Both Vedanta and Nalco have increased their aluminium ingots prices with effect from Friday, January 17. While the former has hiked the price by 2 per cent, the latter has increased it by 1 per cent. So, with the latest price hike, the aluminium ingot price of Vedanta has come in at INR 143,000-156,000 per tonne and that of Nalco INR 152,650- 156,150 per tonne. As considered most of the aluminium producers link their products prices to the three-month futures of aluminium on London Metal Exchange, which has remained flat so far in this quarter, both Vedanta and Nalco have hiked the prices. The aluminium business accounted for a third of Vedanta's consolidated sales in the September quarter. However, operating loss of the segment widened sequentially. In case of Nalco, aluminium products...
The US dollar edged lower against a basket its rivals on Monday, holding near a one-month high after last Friday’s jump on data that confirmed the US economy is holding up well. Moves were slight and volumes thin as Lunar New Year approaches in Asia and with US markets closed for Martin Luther King day on Monday. Three-month LME aluminium advanced 0.64 per cent on Monday to end at US$ 1,817 per tonne, its highest close in two weeks. It is expected to trade between US$1,790-1,825 per tonne today. LME aluminium cash (bid) price, on January 20, inched up to US$ 1806.00 per tonne from US$ 1795.5 per tonne on January 17, while LME official settlement price increased to US$ 1807.00 per tonne from US$ 1796 per tonne. 3-months bid price rose to US$ 1813.00 per tonne and 3-months offer price US$...
Sanjeev Gupta, Executive Chairman of GFC Alliance has declared the creation of a new global low carbon aluminium champion, ahead of his participation at the Choose France summit The new aluminium group will be known by the name ALVANCE Aluminium Group. It will be headquartered in Paris and lead together all of GFC Alliance’s assets across the verticals of the aluminium supply chain starting from raw materials to finished components. This will deliver towards teamwork that will support the business to meet the ever uprising market challenges and take full advantage of opportunities to expand. ALVANCE will be the first GFG Alliance global vertical to be headquartered outside of its international headquarters in London and will initially group the GFG Alliance’s existing high-value upstream...
