The London Metal Exchange (LME) aluminium price graph continues to drop across the pricing and contract segments on the September 24 trading session, reporting declines over the September 23 close . The LME aluminium cash bid slumped from USD 3,239.5 per tonne to USD 3,227 per tonne, rising 0.39 per cent. The offer price moved from USD 3,240 per tonne to USD 3,228 per tonne, dropping by 0.37 per cent. Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid contracted from USD 3,258 per tonne to USD 3,252 per tonne, decreasing by 0.18 per cent. The offer price plunged from USD 3,260 per tonne to USD 3,252.5 per tonne, representing a 0.23 per cent...
The transition towards lower-carbon manufacturing is changing how companies evaluate aluminium and copper. Beyond availability and technical performance, buyers are increasingly examining the emissions embedded in the metals they purchase and whether reducing that footprint justifies a higher price. While low-carbon aluminium has developed into an established premium market, low-carbon copper remains at a developing stage, raising the loaded question: How much are buyers willing to pay for lower-carbon metal? Explore the production, demand and consumption forecasts of bauxite and alumina in our report: “ Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook ” Why aluminium is further ahead Aluminium has had more time to establish a market for...
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Alcoa Corporation, a leading bauxite, alumina, and aluminium producer, announced the signing of a New Labour Contract for Aluminerie de Bécancour Smelter in Québec, Canada on July 2. "We are pleased that ABI has a new labour agreement that will get employees back on the job, working together to give the smelter a more competitive future," Tim Reyes, Executive Vice President and President, Aluminum said. Alcoa also announced that the ABI aluminium smelter would restart curtailed smelting capacity soon as the members of the United Steelworkers union approved a six-year labour agreement. The restart will start as soon as July 26, 2019 and is likely to be complete in Q2 2020. ABI smelter, owned by Alcoa (74.95%) and Rio Tinto Alcan Inc. (25.05%), with an annual operating capacity of 413,000...
Amidst the incessant fall in spot alumina price across China, the A00 aluminium ingot price continues to record a downfall as of today, on July 3, found Shanghai Metals Market. According to SMM data, the price today has declined by RMB 20 per tonne to RMB 13,630 per tonne, marking the fourth consecutive fall. The average prices are expected to range between RMB 13,610 per tonne and RMB 13,650 per tonne, while the spot contract to be traded at the same discount and premium prices of RMB 20 per tonne. While all the major cities have registered a drop in aluminium ingot price today, the price in Wuxi has decided to stand out by recording a hike by RMB 10 per tonne to RMB 13,660 per tonne. Gongyi has seen the highest drop by RMB 30 per tonne, followed by Linyi, Hangzhou, and Chongqing where...
Aluminium Bahrain B.S.C. (Alba), one of the 1 million-metric tonnes smelters in the world, reportedly reveals some of the key industry topics that will be addressed in the 23 rd edition of the Arab International Aluminium Conference (Arabal) 2019. Arabal will take place from November 19 to November 21, 2019, at Gulf Hotel, Bahrain. It will be hosted by Alba under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain. This year’s theme is ‘Shaping the Future of Aluminium in the Arab Region’. Arabal 2019 will shed light on a number of pressing topics like ‘impact of current economic challenges on the aluminium industry’, ‘outlook for the global aluminium industry in light of depressed LME prices’, ‘energy efficiency and its impact on energy...
According to Shanghai Metals Market, Shandong Weiqiao Group, one of the top aluminium producers in China, reduced its purchasing prices of prebaked anode for July 2019. The benchmark purchasing prices for prebaked anode stood at RMB 3,045 per tonne in cash, down RMB 50 per tonne from RMB 2,995 per tonne in June. Weiqiao had raised the benchmark purchasing price for prebaked anode by RMB100 per tonne in June. That was the first time in 2019 for Weiqiao to increase its monthly purchasing price for prebaked anode. The prebaked anode price in East recorded a drop of RMB 25 per tonne to stand at RMB 3,137.50 per tonne after almost a month. The average prices are expected to range between RMB 3,045 per tonne and RMB 3,230 per tonne. The prebaked anode price Central remained the same at RMB...
The US dollar rose to two-week highs as US-China trade tensions eased after the world’s two largest economies agreed to restart trade talks. Base metals ended mostly lower. LME aluminium dipped 0.14% and SHFE aluminium went down 0.83%. LME cash and three months aluminium closed higher during the day’s trading. However, three-month LME aluminium fell to the lowest overnight at US$1,790.5 per tonne and ended lower for the third consecutive trading day, at US$1,791.5 per tonne, after it unsuccessfully tested pressure above from US$1,811 per tonne twice. LME aluminium is likely to trade at US$1,770-1,820 per tonne today. As on July 1, Monday, LME aluminium cash (bid) price stood at US$ 1777 per tonne, LME official settlement price stands at US$ 1778 per tonne; 3-months bid price stands at US$...
Shanghai Metals Market found that the prices of aluminium fluoride across Chinese markets inched up in June, backed by the suspension of fluoride mining in Inner Mongolia that buoyed the prices of raw material used in producing aluminium fluoride. AF-1 aluminium fluoride was quoted above RMB 10,000 per tonne at the end of June, up by some RMB 1,000 per tonne from the price at the beginning of the month. However, no deal is done yet at that price level. Tight supply in the market is one of the reasons that led to the increase in fluoride prices by some RMB 200 per tonne to RMB 3,300 per tonne on a Hunan delivery-to-plant basis. Hunan, together with Henan and Shandong are the major aluminium fluoride-making areas in China. Seaborne materials, on the other hand, are not likely to help to...
The US dollar edged lower last Friday, as US economic data confirmed the likelihood of a July interest rate cut. Base metals ended mostly lower. LME aluminium fell 0.25% and SHFE aluminium fell 0.25%. Three-month LME aluminium failed to stand firm at a high of US$1,812.5 per tonne and lost all the gains at closing, ending 0.14% lower at US$1,794 per tonne on Friday night. LME cash contract also followed the decline. The aluminium contract is likely to trade at US$1,790-1,850 per tonne today. As on June 28, Friday, LME aluminium cash (bid) price stood at US$ 1773 per tonne, LME official settlement price stands at US$ 1773.50 per tonne; 3-months bid price stands at US$ 1793 per tonne, 3-months offer price is US$ 1793.50 per tonne; Dec 20 bid price stands at US$ 1908 per tonne, and Dec 20...
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.041 million tonnes as of Monday July 1. This was down 10,000 tonnes from Thursday June 27, after a drop of 20,000 tonnes in the prior weekend between June 20 and 24, Shanghai Metals Market data showed. The chart below indicates the current status of primary aluminium inventories across all major China markets: Primary aluminium inventories in Wuxi, Jiangsu, and Shanghai dropped 13,000 tonnes and 1,000 tonnes to stand at 340,000 tonnes and 207,000 tonnes today. Inventories in Nanhai, Guangdong stood at 240,000 tonnes, down 6,000 tonnes from 246,000 tonnes on June 27. Primary aluminium stocks in Gongyi, Henan and Hangzhou, Zhejiang increased from 101,000 tonnes and 60,000...
As the week has come to an end, let’s take a quick recap at the movements of aluminium price and the prices of raw materials over the week across China. According to Shanghai Metals Market, the A00 aluminium ingot price started the week with a decline from RMB 13,890 per tonne to RMB 13,830 per tonne, as of June 24, despite the continued slump in primary aluminium inventories. On June 24, the inventories across eight major consumption areas, including SHFE warrants, were at 1.061 million tonnes after declining by 20,000 tonnes over the weekend. Following that, the A00 aluminium price rose for the next three consecutive days to stand at RMB 13,930 per tonne, as of June 27, backed by the tight supplies and lower stock arrivals which also resulted in a further fall of inventories to 1.051...
The US dollar started the week lower on Monday, June 24 on fear of interest rate cut but rebounded from a more than three-month low as investors tempered expectations for aggressive rate cuts by the Federal Reserve. LME base metals traded mostly higher over the week despite the rise in greenback. LME aluminium traded higher this week compared to the last. LME aluminium started the week with US$ 1747.5 per tonne and gained further to reach the monthly highest at US$ 1803 per tonne on June 27. The contract then lost some gains and closed the week at US$ 1773.5 per tonne on Friday. Three-month LME aluminium lost most of the gains from earlier this week as it ended the week at US$ 1793.50 per tonne. The contract is not likely to fluctuate much in the coming week and expected to trade within a...
Canadian aluminium manufacturer Aluminerie Alouette has reportedly finished a major step in its intensive relining programme on Friday, June 28 and started 140 AP40 pots in 180 days in the frame to move from AP40LE to AP40 Technology. Aluminerie Alouette is thus, back with 594 pots in operation going on track to achieve 600,000 tonnes per annum production in coming years. "This achievement is underlining great team work, including contractors. It is a great job, well done," quoted Patrice L’Huillier, CEO and President. He also mentioned, "After visit of Prime Minister J. Trudeau in May 21st in Aluminerie Alouette to announce removal of US tariffs on Canadian Aluminium & Steel, we have been glad to get the recent announcement about Natural Gas access to North Coast of Quebec (where...
Finnish clean energy company Fortum announced that it has signed its first commercial project with Hindalco to reduce air emissions at aluminium smelter in Mahan, Madhya Pradesh. The project is expected to be completed in mid-February 2020. Fortum will cut nitrogen oxide (NOx) through combustion modification on one of the 150-MW boilers located at the smelter. This will enable the power plant to comply with the strict restrictions on NOx emissions to 290 mg/Nm3 from the unit’s current levels. Sanjay Aggarwal, Managing Director, Fortum India said: “We are extremely proud of this association with Hindalco Industries Limited, as it reflects Fortum’s strong commitment to the Indian market. We are hopeful that this partnership will be a longstanding one and that we can support other power...
The US dollar held steady after it recovered from recent lows on Thursday as the market awaited the long-awaited trade talks between China and the US at the G-20 summit this weekend. LME base metals ended mostly higher but aluminium lost 0.9%. SHFE aluminium fell 0.5%. Three-month LME aluminium lost most of the gains from earlier this week as it dipped to a low of US$1,788 per tonne yesterday night, testing support from the 10-day moving average, and ended at US$1,798.5 per tonne, down 0.85% on the day. The cash contract also lost gains to close at US$1782 per tonne yesterday. LME aluminium is likely to trade at US$1,780-1,830 per tonne today. As on June 26, Wednesday, LME aluminium cash (bid) price stood at US$ 1780 per tonne, LME official settlement price stands at US$ 1782 per tonne;...
On Wednesday, June 26, officials from Bosnia’s Federation Government conducted a meeting with British-Swiss company Glencore, where they discussed on finding ways to rescue ailing aluminium smelter Aluminij and also the establishment of a new company, said the government in a statement. The talks focused on possible restructuring of Aluminij, which would involve establishing a consortium of companies led by Glencore and comprising Bosnian aluminium processor Feal and local companies PPD and Erdal. Energy minister Nermin Dzindic said Glencore was ready to invest but did not reveal the amount in the meeting. Last week, local news daily Dnevni Avaz reported that Aluminij would require more than 500 million marka to survive. The Federation’s Prime Minister Fadil Novalic said in the government...
Alcoa Corporation is likely to reach an agreement with United Steelworkers as the management of the Aluminerie de Bécancour Inc. (ABI) smelter in Québec, Canada offered a revised labour contact to the United Steelworkers yesterday. ABI smelter is owned by Alcoa (74.95%) and Rio Tinto Alcan Inc. (25.05%), which has three potlines with an annual operating capacity of 413,000 tonnes per year. The smelter has been operating at a reduced capacity since January 11, 2018 as the United Steelworkers rejected a labour contract for the hourly workers. One of three potlines was in operation during the lockout period and Alcoa announced an additional curtailment of one half of that line on December 19, 2018. This led to a drop in Canadian aluminium production in 2018. After continuous negotiations and...
According to a report, the former CEO of Aludium Arnaud de Weert has recently joined Mr. Sanjeev Gupta’s international business GFG Alliance as a chief executive of upstream activities for its fast-growing aluminium division. After being worked with several esteem companies such as Novelis Inc., Alcan EP, Aludium, Mr. de Weert is one of the leading names now in the international metals and manufacturing industry. Immediately prior to his role at Aludium, Mr. de Weert was an operating partner at Atlas, a US-based private equity firm which bought Aludium assets from Alcoa. Before joining Atlas, he was North American President for Owens-Illinois- one of the world’s largest glass bottle makers and previously he’d held tops posts at global aluminium producers Constellium and Novelis. Mr. Weert...
Followed by the previous fall on June 24 to 1.061 million tonnes, the primary aluminium inventories today, on June 27, have come in at 1.051 million tonnes, according to Shanghai Metals Market data. This indicates that the inventories have declined by 10,000 tonnes over the past three days across eight major consumption areas, including SHFE warrants. A week ago, on June 20, the primary aluminium inventories were at 1.081 million tonnes, which shows that the inventories today dropped by 30,000 tonnes week-on-week. In Wuxi, Jiangsu; Shanghai; Hangzhou, Zhejiang; and Chongqing; the inventories have dropped week-on-week by some 21,000 tonnes, 3,000 tonnes, 12,000 tonnes, and 1,000 tonnes to stand at 353,000 tonnes, 60,000 tonnes, and 22,000 tonnes, respectively. In other major markets like...
The US dollar bounced from a three-month low as investors tempered expectations for aggressive rate cuts by the Federal Reserve. Base metals closed lower for the most part. LME aluminium gained 0.1% and SHFE aluminium edged down. Three-month LME aluminium retreated after pessimism around macroeconomic development bolstered prices to US$1,838 per tonne, the highest since May 17. It ended at US$1,814.5 per tonne, up 0.06% on the day. LME aluminium is likely to trade at US$1,790-1,840 per tonne. As on June 26, Wednesday, LME aluminium cash (bid) price stood at US$ 1802 per tonne, LME official settlement price stands at US$ 1803per tonne; 3-months bid price stands at US$ 1824 per tonne, 3-months offer price is US$ 1825 per tonne; Dec 20 bid price stands at US$ 1940 per tonne, and Dec 20 offer...
