LME aluminium cash prices recorded an increase on November 5, 2026, with the cash offer price rising by 0.80 per cent day on day to USD 3,160 per tonne from USD 3,135 per tonne on November 4. On November 5, the LME aluminium cash bid price stood at USD 3,158 per tonne, up by 0.75 per cent from USD 3,134.5 per tonne recorded on November 4. The cash offer price increased by USD 25 per tonne. Similarly, LME aluminium 3-month prices moved higher. The 3-month bid price rose by 0.78 per cent to USD 3,097 per tonne on November 5 from USD 3,073 per tonne on November 4. The 3-month offer price increased by 0.76 per cent to USD 3,097.5 per tonne from USD 3,074 per tonne. For December 27 contracts, the bid price advanced by 0.33 per cent to USD 2,997 per tonne on November 5 from USD 2,987 per tonne...
National Aluminium Company Limited (NALCO) is advancing its INR 30,000 crore or INR 300 billion (USD 3.18 billion) aluminium smelter expansion project at Anugola or Angul, Odisha, which is expected to more than double its existing smelting capacity from 460,000 tonnes per annum to approximately 1 million tonnes per annum (MTPA). The Navratna public sector undertaking under the Ministry of Mines has secured key statutory approvals and initiated partnerships and preparatory measures for the project, which is targeted to begin operations in 2030-31. A recent meeting of the Rehabilitation and Peripheral Development Advisory Committee (RPDAC) focused on facilitating land acquisition for the proposed facility and addressing associated compensation and rehabilitation matters. Explore the...
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Saudi Arabian Mining Co (Ma’aden), the Gulf’s largest mining company, has asked banks to submit proposals for a loan which would refinance some $2.88 billion of existing debt, sources familiar with the matter said on Wednesday. It sent a request for proposals to banks last week and the banks have until the end of September to respond, the sources said. The facility would be the largest corporate loan out of Saudi Arabia since 2015, according to Thomson Reuters data. The state-controlled miner is raising the financing for Ma‘aden Aluminium, an integrated aluminium facility. France’s BNP Paribas and Saudi Arabia’s National Commercial Bank are coordinating the fundraising, which could be completed by the end of the year, one of the sources said. Ma‘aden and BNP Paribas declined to comment,...
The China aluminium market is fluctuating almost every day over the uncertainty regarding the current aluminium capacity cut in the country. Both A00 Aluminium Ingot and aluminium alloys ingot prices in China have dropped on August 8 throughout all markets. All SHFE base metals prices plunged at around 2:00 pm September 8, with the exception of tin. The average price of A00 Aluminium Ingot would range between RMB15,920 – 15,960/t and today’s average price stands at RMB 15,940/t. Average prices in the major Chinese markets for September 8 are given in the table below: A00 Aluminium Ingot in spot China market is trading at discounts of RMB 130 - 90/t. Among the domestic markets, the average price for A00 Aluminium Ingot for South China market remains the highest today. Aluminum...
With the US dollar index falling amid North Korea jitters, LME aluminium recovered some strength and rose higher from its earlier close of US$2,069.50 per tonne to US$2,075 per tonne on Thursday, September 7. Reuters’ technical analysis suggests that LME aluminium may revisit US$2,145 per tonne as its correction from this level seems to have reached completion. According to Shanghai Metals Market forecast, the light metal contract is likely to hold firm at US$2,095-2,120 per tonne on Friday, September 8, on technical support and weak dollar. As on September 7, LME official cash buyer aluminium price (Bid Price) stands at US$2,074 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,075 per tonne, 3M Bid Price is US$2,095.50 per tonne, 3M Offer Price is US$2,096.50 per...
Nigeria is the 49th largest export economy in the world and the 107th most complex economy according to the Economic Complexity Index (ECI). The country exports raw aluminium and scrap aluminium to name a few around the globe. {newsStudioGallery} Nigeria’s Alscon, an 85%-owned subsidiary of Russia's UC Rusal, has an annual production capacity of 193 thousand tonnes of aluminium. Aluminium exports by Nigeria have increased significantly over the last two years and are expected to follow the trend in the coming years. Japan is the major importer of aluminium from the country. According to the estimated data, in the year 2015, export of aluminium stood at about 55999 tonnes. The volume increased to 63111 tonnes in 2016. The aluminium export is estimated to rise significantly in 2017. The...
LME aluminium prices are set for further correction. The light metal contract which closed at US$2,082 per tonne on Tuesday, September 5, came down by 0.6 per cent to close at US$2,069.50 per tonne after night trading on Wednesday, September 6. Reuters’ technical analysis suggests that LME aluminium may fall further towards US$1,958 per tonne in the near term as it failed to break a key resistance at US$2,119 per tonne. On breaking above US$2,114 per tonne mark, it may rise up to US$2,125 per tonne. According to Shanghai Metals Market forecast, LME aluminium positions improved significantly; so, it should move higher within the range of US$2105-2,125 per tonne on Thursday, September 7. As on September 6, LME official cash buyer aluminium price (Bid Price) stands at US$2,069 per tonne,...
According to a Shanghai Metals Market analysis, SHFE 1711 aluminium will move within a range of RMB 16,280-16,450/t over the day, testing support at the 20-day moving average, after the big drop today. In east China’s spot aluminium market, spot discounts are expected at RMB 200-160/t over SHFE 1709 aluminium contract. SME aluminium price graph SMM Aluminium premiums in Guangdong over Shanghai narrowed slightly to around RMB70 /tonne on Tuesday. Mainstream traded prices were 16,230-16,250 yuan/tonne in Guangdong market. The drop in SHFE aluminium price has generated a strong wait-and-see sentiment among buyers, causing a slowdown in trading activities. On the other hand, stocks in China are expected to add up more with legal new and idled capacity coming into operations very soon....
LME aluminium seems to have temporarily reversed its uptrend though it is too early to predict a direction. The light metal contract dropped to US$2,082 per tonne after night trading on Tuesday, September 5, down 0.64 per cent from its earlier close of US$2,095.5 per tonne on September 4. Reuters’ technical analysis suggests that LME aluminium may break support at US$2,089 per tonne, and fall further to US$2,068 per tonne on Wednesday, September 6. According to Shanghai Metals Market forecast, LME aluminium will test support at the 20-day moving average and range at US$2,080-2,105 per tonne on Wednesday, September 6. As on September 5, LME official cash buyer aluminium price (Bid Price) stands at US$2,081 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,082 per...
China’s Guangxi province has set capacity target for next year. Baise City in Guangxi Province sets a goal for local alumina, aluminium and aluminium processing capacity, according to Shanghai Metals Market. The city intends to boost alumina capacity to 10 million tonnes, aluminium capacity to over 2.6 million tonnes and aluminium processing capacity to more than 3.2 million tonnes by 2018. Guangxi Province is a major producer of alumina and aluminium. Province’s aluminium production is expected to increase further. In June, Baise Mining Group initiated the production of its Coal-Power-Aluminium Integrated project at Guangxi province. The project would produce aluminium with Al content as high as over 99.99 per cent.
In east China spot aluminium market, traders bought actively out of bullishness. Downstream producers sourced metal according to their need. Environmental issues continue to hurt production for both primary and downstream producers. Mainstream traded prices were RMB16,160-16,200 /tonne in Shanghai on Tuesday, RMB16,160-16,200 /tonne in Wuxi and RMB16,160-16,180 /tonne in Hangzhou. Spot discounts of RMB 200-170 /tonne over SHFE 1709 aluminium were offered in the markets. SHFE 1711 aluminium is expected to move around RMB 16,500-16,700/mt on Tuesday after the big drop yesterday. In another update, SMM statistics showed that aluminium stocks in China’s seven major markets, including SHFE aluminium warrants, kept on adding up to new highs. As on September 4, the total aluminium stocks in...
A global aluminium producer has offered Japanese buyers a premium of $100 per tonne for primary metal shipments during the October to December period, down 15 per cent to 16 per cent from the current quarter, three sources directly involved in pricing talks said on Monday, September 4. Another seller has sought a premium of $110 a tonne, down 7 per cent to 8 per cent from the price for shipments over the July to September period, the sources said. Japan is Asia’s biggest aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region.
The Production Safety Supervision and Administration Department of Yunnan Province issued a notice which states the commencement of safety inspections from September 11, on aluminium, iron and steel plants as part of a crackdown on outdated capacity, Reuters reported. According to the notice, smelters that do not meet the requirements will have to make improvements before the end of this year or weed out. According to consultancy CRU, the province has aluminium smelting capacity of about 1.7 million tonnes per year, compared with China’s total of just over 45 million tonnes per year. Almost all of province’s capacity is held by provincial government-controlled Yunnan Aluminium. Yunnan’s safety checks are separate from the national Ministry of Environmental Protection inspections. Beijing,...
LME aluminium declined sharply after the U.S. Labour Day weekend, as U.S. crude prices rose on returning refineries. The light metal contract, which ended last week Friday at US$2,113.50 per tonne, came down to settle at US$2,095.50 per tonne on Monday, September 4. Reuters’ technical analysis suggests that LME aluminium may break an important support at US$2,103 per tonne, and fall further to the US$2,081-2,089 per tonne range on Tuesday, September 5. According to Shanghai Metals Market forecast, LME aluminium will draw support from the 5-day moving average and move within the range of US$2,105-2,130 per tonne on Tuesday, September 5. As on September 4, LME official cash buyer aluminium price (Bid Price) stands at US$2,095 per tonne, cash seller & settlement aluminium price (Offer price)...
Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, will work with the Massachusetts Institute of Technology on six new practical research projects at EGA later this year. MIT is the leading research university in the United States. The new projects extend EGA’s partnership with MIT’s David H. Koch School of Chemical Engineering Practice, a programme through which post-graduate students apply their academic knowledge and expertise by suggesting 'out of the box' solutions for industrial problems. Dr. Alan Hatton, the director of the school, and Dr Brian Stutts, who runs the school’s projects with industrial companies, visited EGA to finalise the new projects. EGA has worked with the MIT programme since 2015. The programme has a history...
LME aluminium remained buoyed up, unchanged for two consecutive days ahead of the weekend. The light metal contract closed at US$2,113.50 per tonne on Friday, September 1, showing a clear uptrend through its day’s performance. Shanghai Metals Market (SMM) suggests that LME aluminium will continue to rise further to US$2,130-2,155 per tonne on Monday, September 4, as China is mulling intensifying its aluminium smelter capacity cuts and environmental checks. The green metal hit the highest last Friday (since February 2013) due to bullish trends in other base metals and a drop in the US dollar index. According to SMM, the upward momentum will extend over the short term. As on September 1, LME official bid price of aluminium stands at US$2,113 per tonne, offer price is US$2,113.50 per tonne,...
SMM observes that there is a good chance of prebaked anode supply shortfall during winter heating season. Environmental inspections have caused tightness in supply of calcined petroleum coke, the raw material for anode. The shortage has also caused calcined coke prices to go up steadily sending ripple effects to prebaked anode prices. SMM also says that Weiqiao Group is still negotiating with prebaked anode suppliers over prices for delivery in September. The price will probably be set at 420 yuan/tonne, much higher than the previously expected market price of RMB200/tonne. Higher prices of prebaked anode are expected to keep aluminium prices strong in the near and long term.
Anil Agarwal, chairman of Vedanta Resources, the metal and mining conglomerate has announced his plans to invest around INR 50,000 crore on business expansion in India in the next few years. "I have promised the government that the group will invest Rs 40,000-50,000 crore. My shareholders and my banks abroad would be very pleased with my plan," he said. He also hopes the taxation issues between Cairns India and the Government will also be sorted soon. He insisted that this decade is the best period to invest in India. He is of the view that the new bankruptcy law and Goods and Services Tax (GST) will help improve the business environment and attract global investors to India. The Income-Tax Department has seized USD 104 million dividend due to Cairn Energy Plc from the remaining stake in...
Prebaked Carbon Anodes are a particular type of consumable electrodes (anodes) designed for aluminium smelting through the Hall-Héroult process. During the smelting process, these carbon anodes are suspended within the electrolysis cell(s) containing the electrolyte, which is primarily aluminium oxide (Al2O3). In the process, prebaked anode is consumed at a rate of approximately 450 kg of anode per tonne of liquid aluminium produced. With the demand for aluminium rising across a wide cross-section of industries, prebaked anode prices have been trending high over the last three years. Talking about market, China has emerged as the global giant in the aluminium sector; and hence, one of the key driving forces for prebaked anode demand and prices. Shanghai Metals Market observed that...
The board of Vedanta Limited has on Thursday announced the appointment of Kuldip Kaura as the interim chief executive officer from September 1, 2017 as former CEO Tom Albanese steps down on August 31. In the meantime the search for a new CEO is going on. Kaura has held various senior management and leadership roles with the group for 15 years by virtue of which "he has extensive knowledge of Vedanta’s operations", the release said. "On behalf of the board and my colleagues at Vedanta, I thank Tom for his significant contribution to the business and wish him all the best for his future endeavours. Kuldip has the full support of the board and the management team and I am certain that he will ensure a smooth transition as we identify a permanent CEO." chairman, Vedanta, Navin Agarwal said....
