Vedanta Aluminium reported record quarterly production across aluminium, alumina and value-added products in Q2 FY27, supported by capacity expansion and efficiency improvements. Vedanta Aluminium Metal Limited, India’s largest aluminium producer, recorded its highest-ever quarterly aluminium production of 649,000 tonnes in Q2 FY27, up 5 per cent year on year from 617,000 tonnes in Q2 FY26. Aluminium output also increased 3 per cent quarter on quarter from 632,000 tonnes in Q1 FY27. For the first half of FY27, production reached a record 1,281,000 tonnes, up 5 per cent from 1,222,000 tonnes in H1 FY26. The company attributed the increase to new smelter volumes and efficiency improvements across existing production lines. Alumina output jumps 37 per cent Vedanta Aluminium’s alumina...
Asian aluminium premiums are facing more pressure ahead of Q4 talks. CRU’s Asia CIF aluminium premium is now USD 202 per tonne, well below the USD 395 per tonne Main Japanese Port (MJP) Q3 benchmark. MJP Q4 offers have also dropped sharply. They fell from USD 325 per tonne in early September to USD 245–260 per tonne as the new quarter approaches. This shows weaker sentiment in the market. Aluminium premiums are under pressure across Asia, especially in Korea, Malaysia and Taiwan. These markets are more exposed to spot price changes, so premiums can move quickly when supply or demand changes. 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 " Premiums...
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Mining giant BHP Billiton Ltd Monday said Mike Fraser would join the Group Management Committee as President, Human Resources, which is part of the role currently held by Karen Wood who is President - People and Public Affairs. Fraser is currently Head, Group Human Resources based at the company's head office in Melbourne. He joined BHP in 2000 and has served in several human resources roles including as Human Resources Vice President for the Aluminium and Energy Coal businesses and for South Africa. Prior to his appointment to Group Human Resources in January, he was Asset President, Mozal in the Aluminium business based in Mozambique. Karen Wood will remain a member of the Group Management Committee as President, Public Affairs. As the transition activities associated with the...
Romania’s Alro, a subsidiary of aluminum producer Vimetco, reported a loss of RON 17 million (EUR 3.8 million) in the first semester against a profit of RON 26 million (EUR 6 million) in the same period of last year, citing high energy costs and disappointing aluminum prices that reached fresh lows. Alro’s turnover lost 9.5 percent to RON 1.06 billion (EUR 241 million) and the producer reported a slight decrease in primary aluminum sales to 71,168 tons. Sales of processed products, meanwhile, climbed to 36,711 tons. Marian Nastase, board chairman at Alro, said the results were impacted by factors outside the aluminum industry.“The overall energy costs, including the eco taxes, continued to put pressure on the Company’s final results. Moreover, the aluminum prices on the international...
LME aluminium is expected to retest support at $1,879 per tonne, a break below which will lead to a further loss to $1,853. Support is provided by the 61.8 percent Fibonacci projection level of a downward wave c, blocking the way towards the 100 percent projection level at $1,853. The downtrend from the Aug. 19 high of $1,949 seems to have been confined within a falling channel, the lower channel line of which points a target slightly below $1,853. A rise above $1,905 may be extended to $1,920.
China has invested substantial sums in raw material production such as electrolytic aluminum projects, driven by global demand, but the industry faces serious excess capacity, experts said. During the first half, China's nonferrous metals refining industry experienced "severe" overcapacity, rising power costs and falling aluminum prices, according to a report released by the National Development and Reform Commission, China's top planning agency, in mid-August. It said smelting capacity was "extremely excessive", with a lack of stable resource supply. Yet the industry doesn't produce enough high value-added products, which must still be imported. Because there's so much excess capacity, many electrolytic aluminum producers are short of orders, said Xu Yongbo, chief analyst of the metals...
The Maritime Union of Australia has backed down on demands that the government block aluminium giant Alcoa from gaining a temporary licence to use a foreign-manned vessel to move cargo from its refineries in Western Australia to its smelter in Victoria. The MUA yesterday accused Alcoa of trying to "remove their Australian crew in favour of foreign labour" and demanded that Transport Minister Anthony Albanese not grant the temporary licences to allow a foreign-crewed carrier to do the work. Alcoa is selling the MV Lindesay Clark because it needs significant investment to stay operational. In a statement, the MUA insisted that Alcoa should reverse their decision to remove the ship from the trade "as a matter of urgency", saying the decision was "a real kick in the guts for the workers,...
UC RUSAL, a leading, global aluminium producer announces a USD 3 mln project aimed at environmental modernization of the carbon area which includes production of anode paste (the anode paste plant, APP) at its Krasnoyarsk Aluminium Smelter (KrAZ). The engineering stage will be completed in 2013, and new equipment will be delivered to the production site in 2014. The APP upgrade project will result in a 10% reduction of nitric and carbonic oxide emissions, and it will also cut inorganic dust emissions by 20%. RUSAL raised the funding for the APP upgrade project after implementing an activity focused on reducing perfluorocarbon (PFC) emissions at KrAZ which was planned in line with Article 6 of the Kyoto Protocol to the UN Framework Convention on Climate Change. RUSAL also envisages to...
Rio Tinto has invested nearly 80 million euros in its Dunkirk aluminium plant in the past 18 months and plans to invest at least that much again over the next five years on energy saving and efficiency improvements. The largest aluminium plant in the European Union with 2012 production of 260,000 tonnes, seaside Dunkirk is the biggest single-point user of electricity in France, consuming 485 megawatts per hour, or half the output of one nuclear reactor at the nearby Gravelines site. As Rio Tinto's 25-year contract with French utility EDF expires at the end of 2016, its electricity bill - which adds up to 23 percent of production costs - could rise as much as 80 percent from 2017, as contract prices catch up. But Rio Tinto is investing heavily to improve efficiency. Plant director Colin...
The aluminium smelter project, part of Gujarat Mineral Development Corporation (GMDC)'s ambitious Rs 15,000-crore aluminium park in Kutch, Gujarat, has been put on back burner as GMDC and its partner National Aluminium Company Ltd (Nalco) are yet to finalise the terms and conditions for it. GMDC plans to set up a one-million-tonne alumina refinery and a 5 million tonne aluminium smelter. But Nalco, has been wary of the proposition with regard to smelter, as converting alumina into aluminium is very power intensive. Sources said that Nalco has expressed its concerns about setting up a smelter and had asked GMDC to arrange electricity at a rate of up to Rs 2.2 per unit. "If that works out, Nalco has expressed its willingness to invest in setting up the smelter as well," they added. However,...
With a 3.4 percent increase over the past day, the cash price of primary Indian aluminum was the biggest mover on Thursday, August 22. On the LME, the cash price of primary aluminum increased 0.2 percent to $1,852 per metric ton. The 3-month price of aluminum weakened by 0.2 percent on the LME, settling at $1,902 per metric ton. Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap was unchanged. The price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar held steady. Following two days of downward movement, the Chinese aluminum cash price held steady.
Aluminium prices edged up by 0.71% to Rs 120.20 per kg in futures trade today as participants engaged in enlarging positions, supported by a firming Asian trend. Further, better demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in August traded up by 85 paise, or 0.71%, to Rs 120.20 per kg in business turnover of 230 lots. Likewise, aluminium for delivery in September traded higher by 45 paise, or 0.54%, to Rs 121.15 per kg in 54 lots. Marketmen said apart from increased domestic demand, a firming trend in base metals at the Shanghai Futures Exchange amid speculation that the Federal Reserve may hold off on curbing stimulus measures in September, supported the upside in aluminium prices at futures trade.
It had recently been announced by Alcoa Inc that the company had decided to shut down the operations of around 164,000 metric tons of smelting capacitance facilities located in the United States and Brazil. This move taken up as part of the company’s smelting capacitance appraisal plan is expected to enable the company to keep up its competitiveness in the industry. It had been announced that around 40,000 metric tons of the smelting capacitance facility located in the Massena East facility of New York and 124,000 metric tons of facility located in Brazil would be shut down from its operations. Shares of Alcoa had recently been hit heavily in the markets primarily owing to the absence of healthy, strong and growing economy in the United States for the past few years. As there are recent...
Aluminum buyers in Japan, Asia’s biggest importer, will probably win their first reduction in three quarters for fees they pay to producers after premiums in the U.S. and Europe slumped, three executives said. Premiums for the three months starting in October are likely to fall to the lowest level of the year from this quarter’s $249 to $251 a metric ton over the London Metal Exchange cash price, said the executives, representing buyers and sellers. They asked not to be identified because the talks, which begin this week, are private. The rates to obtain aluminum tumbled the most in 20 months in Europe last month and retreated from a record in the U.S. as lawmakers and regulators scrutinized long waiting times to withdraw metal from warehouses. The U.S. premium slid to 11 cents a pound...
Spot inquiries picked up slightly in the European aluminum alloy market this week as the summer vacation period began to draw to a close. "The market was OK this week, we had some inquiries where we were able to book some quantities. It was better than last week," said one producer, adding that the inquiries had been for September/October delivery. A second producer agreed: "The beginning of this week saw a lot of inquiries for early September." The producer reported selling 226 at prices around Eur1,800/mt, delivered with 30 days' payment terms. "Prices are more or less stable. The lowest we've heard was Eur1,800," said the first producer, adding that they had achieved sales in the Eur1,830-1,850/mt basis, delivered 30 days. There was still talk of cheaper offers below the Eur1,800/mt...
The government has started the process to sell its remaining stakes in the two metals companies Hindustan Zinc and Balco, which could fetch it as much as Rs 18,000 crore. The cabinet committee on economic affairs (CCEA) is expected to take up a proposal this week for change in regulations governing "call and put" options, which is crucial for divestment in these companies. Next week, the CCEA is likely to clear stake sale in the two companies via an offer for sale or competitive bidding. "A cabinet note has been already circulated for change in the call and put norms and is expected to be taken up in the coming week. The CCEA will subsequently take up the proposal for stake sale in HZL and Balco," said a senior finance ministry official. The government has budgeted Rs 55,000 crore from...
Construction of EMAL's Phase II expansion is more than 70% complete and on schedule to meet its December 2013 deadline. Cooperation with Abu Dhabi Ports Company (ADPC) is helping to ensure that the expansion of Emirates Aluminium (EMAL) into one of the world's largest single-site aluminium smelters is on target. Almost half of the containers of vital equipment had been unloaded and delivered to the EMAL Al Taweelah complex, in the six months prior to February 2013. Khalifa Port's integrated logistics - which includes radio frequency identification (RFID) tags and automated gates - have contributed significantly towards this rapid progress. By the time construction is due to be completed in December this year, around 5,000 containers destined for the EMAL complex, will have entered the...
Iran has produced 119,000 tons of aluminum ingots in the first four months of the current Iranian calendar year, which started on March 21, 2013, IRNA reported. The output rose by 6.3 percent compared to the corresponding period a year earlier. The volume of aluminum ingot production in the country over the fourth Iranian calendar month of Tir (June 22-Jly 22) stood at 29,600 tons, which showed a 8.8-percent growth year on year. The report added that Iran produced 83,000 tons of alumina powder during the same period. The number showed an 12.8-percent increase compared to the same period last year. Iran needs to import 120,000 tons of aluminum ingots per year, Shahen Markarian, a member of the Iranian aluminum producers syndicate has said. He added that the annual output is projected to be...
The National Aluminium Company Limited (Nalco) on Wednesday signed a long-term fuel supply agreement with Mahanadi Coalfield Limited (MCL). As per the deal, MCL would supply 47.16 lakh MT of coal to Nalco's captive power plant (CPP) in Angul and 8,73,324 MT for steam-cum-power generation plant in Damanjodi. The agreement is for a period of five years from 2013 to 2018. The agreement was signed by S S Mahapatra, director (production), Nalco and A K Tiwari, director (technology/operation), MCL at the MCL headquarters in Burla, a Nalco release informed.
Hindalco Industries Ltd., India’s second biggest aluminum maker, is seeking improved terms on as much as $2.7 billion of debt as projects funded by the rupee loans come on stream, said two people familiar with the talks. “The company, controlled by billionaire Kumar Mangalam Birla, wants to refinance loans worth Rs.17,775 crore ($2.7 billion) in the year ending 31 March ,” said the people, asking not to be identified as negotiations are on. “One of the new smelters started trial output last quarter, while the other is slated to start production in October.” Hindalco spokeswoman Pragnya Ram didn’t respond to an email seeking comment. The company’s total debt swelled 39% to Rs.56,900 crore as of 31 March, according to data compiled by Bloomberg. Hindalco raised Rs.9,900 crore in September,...
