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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The US dollar dropped on Wednesday after the US Federal Reserve left interest rates unchanged. LME base metals closed mixed on Wednesday and aluminium inched up close to 0.1%. SHFE base metals performed and aluminium advanced 0.4%. LME aluminium gained yesterday with dollar’s loss and closed the day’s trading at US$ 1746.50 per tonne. Three-month LME aluminium came off from a high of US$1,788 per tonne to close a tad higher at US$1,779 per tonne on Wednesday night. LME aluminium is expected to trade between US$1,750-1,820 per tonne today. As on June 19, Wednesday, LME aluminium cash (bid) price stood at US$ 1746 per tonne, LME official settlement price stands at US$ 1746.50 per tonne; 3-months bid price stands at US$ 1776 per tonne, 3-months offer price is US$ 1776.50 per tonne; Dec 20...
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported that Iran's total production of aluminium declined by 32 per cent in the first two months of the current fiscal (March 21- May 21) compared with last year's corresponding period. Aluminium production came in at 41,367 tonnes. Iran’s flagship aluminium producer Iran Aluminum Company (IRALCO) accounted for 30,625 tonnes of the total figure. That was up 2 per cent in the two-month period. Almahdi Aluminum Company produced 5,221 tonnes, down by 56 per cent. Hormozal Aluminum Company churned out 5,156 tonnes, which was a 73 per cent drop on the year. Iran Alumina Company’s alumina production stood at 38,908 tonnes during the two months, showing a 6 per cent decline. Alumina powder production in...
The US dollar index inched up on Tuesday with the fall of euro. LME and SHFE base metals traded higher across the board after a "very good" telephone conversation between Donald Trump and Xi Jinping on Tuesday night. LME aluminium gained 1.1% on Monday and SHFE aluminium advanced 0.6% overnight. LME aluminium closed higher at US$ 1733 per tonne yesterday after two consecutive losses. Three-month LME aluminium advanced 1.11% to end at US$1,778 per tonne on Tuesday, just below the 20-day moving average. It is expected to test resistance at US$1,800 per tonne today, and trade between US$1,770-1,820 per tonne. As on June 18, Tuesday, LME aluminium cash (bid) price stood at US$ 1732 per tonne, LME official settlement price stands at US$ 1733 per tonne; 3-months bid price stands at US$ 1761 per...
A00 aluminium ingot price recorded an increase of RMB 50 per tonne, after falling four days in a row. Ingot price stood at RMB13900 per tonne on Wednesday, 19 June 2019. The average prices are expected to range between RMB13880 per tonne and RMB13920 per tonne. Spot aluminium contract is likely to be traded at a discount of RMB10 per tonne to a premium of 30 per tonne. Aluminium ingot price in Foshan stood 0.43 per cent higher, standing at RMB13980 per tonne. The average price is expected to hover at RMB13960- 14000 per tonne today. Ingot price in Wuxi and Hangzhou increased by RMB 45 per tonne and RMB 30 per tonne to stand at RMB 13895 per tonne and RMB13905 per tonne respectively. Aluminium ingot price in Chongqing, Shenyang, Tianjin, Linyi, and Gongyi came in at RMB13890 per tonne,...
British–Swiss multinational commodity trading and mining company Glencore has reportedly shown interest in acquiring Bosnia’s aluminium smelter Aluminij Mostar. The news came after Glencore’s general manager said this on Monday, June 17. Bosnia’s Aluminij has been in trouble for years and therefore, seeking a strategic partner who can protect it from bankruptcy. The company accumulated heavy debt over the years because of high alumina and electricity prices. The situation further worsened when Bosnian power utility Elektroprivreda HZHB prepared to cut electricity supplies to Aluminij on June 16 due to unpaid debts. Aluminij’s total debt is at 377 million Bosnian marka, of which 280 million marka is owed to the state utility Elektroprivreda HZHB. However, news wire Klix.ba reported on...
For outstanding financial and production achievements over the past four years, the CMD of National Aluminium Company Limited, Dr. Tapan Kumar Chand, has been honoured with the ‘Global Indian Business Leader’ award on June 17, 2019. On behalf of Dr. Chand, Nalco DGM (Corporate Communication) Asutosh Rath received the award in New Delhi. Based on Dalal Street Journal’s rating of Nalco as the fastest growing PSU in the last five years, the award ceremony organised by the Indian Achievers’ Forum acknowledged Dr. Chand for leading the company in growth path and achieving the global benchmark of the lowest-cost producer of bauxite and alumina in the world. Since July 2015 when Dr. Chand joined Nalco as CMD, the company had been consistently delivering across all parameters of production,...
Ahead of the budget, aluminium producers in India have reportedly urged the government to increase import duty on primary aluminium, aluminium scrap, and downstream products. Besides, they have also sought steps from the government to rationalise the costs of raw materials. Industry bodies such as the Aluminium Association of India (AAI) and FICCI have made the government aware of the fact that the rising aluminium imports, declining domestic market share, and rising production and logistic costs have taken a toll on the country's metal industry. Moreover, non-competitive energy costs and acute coal shortage are being found hitting the industry adversely, said Rahul Sharma, co-chairman of FICCI Committee on Mining and Minerals, in a press statement. He also pointed out that the lack of...
The US dollar index was little changed on Monday as investors awaited this week’s crucial US Federal Reserve meeting. LME base metals closed mixed on Monday and aluminium nudged up. SHFE base metals performed similarly and aluminium stayed flat. LME continued its downward trend on the first day of the week. LME cash contract closed lower at US$ 1719.5 per tonne. Three-month LME aluminium slid to a low of US$1,745 per tonne, the lowest since January 11, 2017, on Monday before it rebounded to close overnight at US$1,758.5 per tonne. It is expected to trade rangebound between US$1,740-1,800 per tonne today. As on June 17, Monday, LME aluminium cash (bid) price stood at US$ 1719 per tonne, LME official settlement price stands at US$ 1719.50 per tonne; 3-months bid price stands at US$ 1754 per...
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its fall today, June 18, by RMB 80 per tonne to stand at RMB 13,850 per tonne. This is the fourth consecutive fall after a slight rise on June 12 from RMB 14,070 per tonne to RMB 14,080 per tonne. The average prices today are expected to range between RMB 13,830 per tonne and RMB 13,870 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB 40 per tonne. Foshan has seen a major drop among all other cities in China, as the price there has declined by RMB 90 per tonne to stand at RMB 13,920 per tonne, followed by Tianjin and Gongyi, where the price has inched down by RMB 60 per tonne to RMB 13,880 per tonne and RMB 13,785 per tonne respectively. Hangzhou, Wuxi, Chongqing, and Shenyang have...
Emirates Global Aluminium (EGA) reportedly announced yesterday, June 16 that it achieved cost savings of AED20.8 million through suggestion scheme in the first half of 2019. The EGA suggestion scheme first came into effect in May 1981 with the intention of involving the most valuable asset of an organisation – the employees. Getting their ideas and gaining their involvements are the two main vision of this scheme. Since January 2019, EGA employees have given over 14,000 ideas to reduce costs and improve processes at worksites. During the Holy Month of Ramadan, the company launched another campaign to accelerate the implementation of the employees' suggestions and award them. Around 5,812 suggestions were implemented during the Holy month. Abdulla Kalban, the Managing Director and CEO of...
Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.088 million tonnes as of Monday, 17 June 2019. Primary aluminium stocks dropped 30,000 tonnes from 1.118 million tonnes on Thursday June 13. Inventories in China extended their declines over the weekend. 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 10,000 tonnes and 4,000 tonnes from Thursday June 13 to stand at 382,000 tonnes and 213,000 tonnes on Monday, 17 June 2019. Inventories in Nanhai, Guangdong came in at 242,000 tonnes, a drop of 9,000 tonnes from Thursday June 13. Primary aluminium inventories...
Senior aluminium analyst at SMM, Wang Rui, said that aluminium prices in the short term are likely to moderate on weaker demands in a slack season but slower-than-expected in supply and shrinking inventories sustain on optimistic outlook on prices in the long run. At the Nonferrous and Ferrous Metals Summit jointly held by SMM and Chinese financial research firm Horizon Insights in Shanghai on Friday, June 14, Wang Rui expected China’s aluminium stocks to ease to 700,000 to 800,000 tonnes by the end of 2019. He also shared that the costs and balance of alumina will remain the point of focus in the market in 2019. However, the June-August period is likely to see a deficit of alumina by 430,000 tonnes in China, he estimated. Some new alumina capacity of around 4.4 million tonnes is likely...
The dollar index surged on Friday as encouraging US retail sales data for May eased fears of a slowing economy. With weak manufacturing and investment data from China, LME base metals closed lower on Friday, with the biggest loss of 1.6% in aluminium. SHFE base metals also traded lower and aluminium shed 0.5%. A stronger US dollar lowered three-month LME aluminium below all short-term moving averages to close at an intraday low of US$1,758 per tonne on Friday night. It lost all earlier gains to conclude in a weekly decline. LME aluminium is expected to trade between US$1,750-1,830 per tonne today. As on June 14, Friday, LME aluminium cash (bid) price stood at US$ 1737 per tonne, LME official settlement price stands at US$ 1737.50 per tonne; 3-months bid price stands at US$ 1770 per tonne,...
The year 2018 saw the global aluminium industry being impacted by various factors including constraints in supply of raw materials and imposition of various trade restrictions and sanctions by the US Government. Prices saw some never-before-seen highs and lows and a trade war between the U.S. and its allies created concern in the international market. Now, as the five months of the year 2019 are over, the industry has started consolidating. Most of these issues surrounding the aluminium industry are expected to be resolved and supply as well as price is stabilizing during the first half of the year. The start of 2019 has already witnessed the lifting of sanctions on Rusal by the US Government and trade negotiations between the U.S. and China are taking shape in a positive manner. The US...
A00 aluminium ingot price started the week lower after Dragon Boat Festival. Aluminium ingot recorded further down on June 10 from RMB 14060 per tonne to RMB14020 per tonne. The price inched higher on Tuesday and continued till Wednesday. A00 aluminium ingot price ended the week lower at RMB13970 per tonne on Friday, June 14, 2019. As of yesterday, the average price is expected to range at RMB13950-13990 per tonne. Premium showed no movement till Tuesday, June 11. Premium increased by RMB10 per tonne on Wednesday. Then it dropped RMB10 per tonne on Thursday and Friday. As of yesterday, spot aluminium price is likely to trade at a discount of RMB 10 per tonne to a premium of RMB 30 per tonne. Inventories of primary aluminium in China declined slower over the holiday-extended weekend....
The US dollar started the week higher on Monday, June 11 but, dipped on Tuesday. Then it continued moving up and down leading to a mixed performance by LME and SHFE base metals over the week. Finally the dollar index ended the week higher on Friday. LME aluminium started the week with US$ 1720.5 per tonne and gained further to reach US$ 1756 per tonne but on Friday, LME cash contract plunged to US$ 1737.5 per tonne on Friday. Three months aluminium also plunged after seeing some gains mid-week. The contract is not likely to fluctuate much in the coming week and expected to trade within a lower range. As on June 14, Friday, LME aluminium cash (bid) price stood at US$ 1737 per tonne, LME official settlement price stands at US$ 1737.50 per tonne; 3-months bid price stands at US$ 1770 per...
China’s production of aluminium increased 2.4 per cent in May compared with the same period last year. Aluminium production came in at 2.98 million tonnes last month, showed data by the National Bureau of Statistics (NBS) on Friday, June 14. Aluminium production in China rose 2.1 per cent from 2.92 million tonnes in April, NBS data showed. According to Reuters calculations, on a daily basis, output decreased from 97,200 in April, which had one day fewer. Output averaged around 96,129 tonnes last month. China produced 14.45 million tonnes of aluminium in the first five months of 2019. That was up 2.7 percent from the same period last year, the data showed. Output of ten nonferrous metals - including copper, aluminium, lead, zinc and nickel – increased 2.2 per cent YoY and stood at 4.74...
The US dollar rose on Thursday on Donald Trump’s slightly positive tone on the US-China trade war Wednesday despite the threat of increased tariffs. Growing expectations of an interest rate cut limited gains in the greenback. LME base metals closed mixed while aluminium edged down. SHFE base metals saw mixed performance and aluminium declined 0.3%. LME aluminium settled the day’s trading higher than the previous day at US$1756 per tonne but lost the gains overnight. With the rising US dollar the three-month LME aluminium lost earlier gains to close lower at US$1,786 per tonne on Thursday. As on June 13, Thursday, LME aluminium cash (bid) price stood at US$ 1755.50 per tonne, LME official settlement price stands at US$ 1756 per tonne; 3-months bid price stands at US$ 1787 per tonne,...
