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FERROALLOYNET DAILY
Aluminum | Tuesday | 26 November 2024
ALUMINUM PRICES
International bauxite market prices on 26 November 2024
Item Origin Spec. Price Change Unit Basis
Bauxite Australia AL:48-51%;SI:7-12% 70 -- USD/Ton CIF China
Bauxite Malaysia AL:37-41%;SI:5-6% 52.5 -- USD/Ton CIF China
Bauxite Guinea AL:45%;SI:5% 90 -- USD/Ton CIF China
Bauxite Ghana AL:47-51%;SI:1-2% 89 -- USD/Ton CIF China
China bauxite market prices on 26 November 2024
Item Region Price Change Unit
High grade bauxite Shanxi 640-680 -- CNY/Ton
Low grade bauxite Shanxi 590-630 -- CNY/Ton
High grade bauxite Henan 630-660 -- CNY/Ton
Low grade bauxite Henan 540-580 -- CNY/Ton
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High grade bauxite Guangxi 350-380 -- CNY/Ton
Low grade bauxite Guangxi 320-335 -- CNY/Ton
High grade bauxite Guizhou 580-640 -- CNY/Ton
Low grade bauxite Guizhou 510-550 -- CNY/Ton
International alumina market prices on 26 November 2024
Item Origin Price Change Basis Unit
Alumina Australia 785 -- FOB USD/Ton
China alumina market prices on 26 November 2024
Item Region Price Change Unit
Alumina -- 5711 ↑10 CNY/Ton
Alumina Shandong 5670-5710 ↑10 CNY/Ton
Alumina Henan 5690-5740 ↑10 CNY/Ton
Alumina Shanxi 5740-5800 ↑10 CNY/Ton
Alumina Guangxi 5630-5670 ↑10 CNY/Ton
Alumina Guizhou 5630-5690 ↑10 CNY/Ton
Alumina Lianyungang 6060-6140 -- CNY/Ton
China aluminum alloy ingot market prices on 26 November 2024
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Item Price Change Unit
ADC12 20700-20900 -- CNY/Ton
East China ADC12 20700-20900 -- CNY/Ton
Southern China ADC12 20700-20900 -- CNY/Ton
Southwest China ADC12 20700-20900 -- CNY/Ton
ZLD102 20800-20900 ↓50 CNY/Ton
ZLD104 20900-21000 ↓50 CNY/Ton
AlSi9Cu3 21100-21300 -- CNY/Ton
A380 21700-21900 -- CNY/Ton
A356 20900-21200 ↓50 CNY/Ton
China prebaked anode market prices on 26 November 2024
Item Region Price Change Unit
Prebaked anode East China 3670-6035 -- CNY/Ton
Prebaked anode Central China 3785-4040 -- CNY/Ton
Prebaked anode Southwest China 4090-4440 -- CNY/Ton
Prebaked anode Northwest China 4120-4460 -- CNY/Ton
China aluminum fluoride market prices on 26 November 2024
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Item Price Change Unit
Aluminum fluoride 11650-12300 -- CNY/Ton
China cryolite market price on 26 November 2024
Item Price Change Unit
Cryolite 6500-7200 -- CNY/Ton
China aluminium market price on 25 November 2024
Product Region Price Change Unit
Aluminium Changjiang 20650-20690 ↑60 CNY/Ton
Aluminium Nanhai 20820-20920 ↑50 CNY/Ton
Aluminium Shanghai 20640-20680 ↑60 CNY/Ton
Aluminium Nanchu 20560-20620 ↑70 CNY/Ton
Aluminium Central China 20670 ↑60 CNY/Ton
LME Base Metal Interoffice Trading Closing Price on 25 November 2024
Product Price Change Unit
LME Copper 9044 ↑71.5 USD/Ton
LME Aluminum 2647.5 ↑17.5 USD/Ton
LME Lead 2022.5 ↑4.5 USD/Ton
LME Zinc 3020 ↑48 USD/Ton
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LME Stannum 28920 ↓30 USD/Ton
LME Nickel 16170 ↑355 USD/Ton
ALUMINUM MARKET ANALYSIS
Environmental inspections continue, domestic mines that have been shut down show no signs of resuming production
Domestic bauxite prices are running steadily at high levels. The northern region continues to be affected by heavy pollution weather, routine environmental inspections continue, and there are no
signs of resuming production in the suspended mines. There is news that the Qingzhen open-pit mine is expected to resume production. The prices of imported minerals are running steadily at a
high level. There are still multiple new alumina projects steadily advancing in the future, and domestic demand for minerals is experiencing sustained explosive growth. Recently, the activity of
overseas bauxite transactions has increased, and downstream alumina plants are gradually increasing their acceptance of high priced bauxite.
Market competition intensifies, and the recent strong and long-term weak pattern of alumina continues
In terms of overseas macro, the US dollar index continues to show a strong trend, which continues to drag down prices. Domestically, the overall performance of the previously released economic
data is still acceptable, but the data is relatively light in the short term, and there are limited new policies. The market is cautiously optimistic. In terms of alumina, spot prices continue to be strong,
and the tight pattern caused by concerns about bauxite supply has not changed. However, the upward trend has slightly slowed down, and high valuation pressure has been reflected. The
expectations for long-term ore and production capacity growth are relatively clear, and caution should be exercised in the upper space. In terms of electrolytic aluminum, the impact of export tax
rebate policy adjustments on prices has basically subsided, and in the medium to long term, the slowdown in global aluminum supply growth is still a deterministic event. Russian aluminum will
reduce production, and domestic aluminum exports still have certain advantages. In terms of domestic supply and demand, the production capacity limit is clear, the operating rate is at a high level,
and the future incremental space is limited. On the demand side, downstream production performance is average, but inventory continues to decline, and potential positive expectations still exist.
ALUMINUM NEWS
Finland has doubled its aluminum exports to Russia
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By the end of September, the export of aluminum amounted to 22.3 million euros. From January to September of the previous year, this figure was 11.3 million euros. The growth is primarily due
to the export of aluminum spikes for car wheels, which are not subject to sanctions.
The growth in aluminum exports to Russia is attributed to the family company Turvanasta from Turku, which manufactures aluminum spikes. One of the co-owners of the company is Ia
Adlerkreutz, the wife of the Minister of Education, Anders Adlerkreutz, who also leads the Swedish People’s Party.
Mikko Salakari, the CEO of Turvanasta, commented to Yle that the company cannot influence where customers ultimately send their orders.
Earlier, Turvanasta promised that they would cease exports to Russia after the expiration of current contracts.
The Ministry of Foreign Affairs stated that it does not intervene in exports to Russia if the goods are not on the EU sanctions list.
However, the export of aluminum spikes raises concerns about the potential military use of the products.
Investment Insight: Critical Role of High-purity Alumina in the Low-carbon Transition
With its increasing importance in manufacturing energy-efficient lighting and LED displays, high-purity alumina is becoming a critical material in the journey toward a low-carbon economy.
As the world accelerates its transition to a low-carbon economy, high-purity alumina (HPA) has emerged as a crucial material underpinning this transformation, driving not just market expansion
but an investment landscape rife with opportunities.
This advanced form of aluminum oxide, characterized by its exceptional purity levels of 99.99 percent or higher, is becoming increasingly indispensable in the production of cutting-edge
technologies that are driving sustainable development.
The sector presents compelling opportunities for financial returns, driven by surging market demand and significant technological advancements.
Understanding high-purity alumina
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HPA is a versatile compound with unique properties that make it invaluable across various industries. Its high thermal conductivity, excellent electrical insulation and remarkable hardiness have
positioned HPA as a critical component of LED lighting, lithium-ion batteries and synthetic sapphire for electronic displays.
These applications are at the forefront of energy-efficient technologies, playing a pivotal role in reducing carbon emissions and enhancing global energy conservation efforts.
LED lighting: HPA is used as a substrate in LED production, enabling the creation of more efficient and longer-lasting lighting solutions that consume significantly less energy than traditional
incandescent bulbs.
Lithium-ion batteries: As a key component in battery separators, HPA enhances the safety and performance of lithium-ion batteries, which are crucial for electric vehicles and renewable energy
storage systems.
Electronic displays: Synthetic sapphire made from HPA is used in smartphone screens and other electronic displays, improving durability and energy efficiency.
Market demand and growth projections
HPA is experiencing an unprecedented growth in demand, driven by industries focused on sustainable and efficient technologies. Market analysis reveals a robust trajectory for the HPA sector.
From an approximate value of US$3.18 billion in 2022, the global HPA market is projected to grow at a CAGR of 22.22 percent from 2023 to 2030, reaching a valuation of US$12.21 billion,
according to data from Horizon Grand View Research.
This remarkable growth is primarily attributed to the rapid expansion of the electric vehicle market and the increasing adoption of LED lighting technologies, highlighting the urgent need for
increased production capacity and innovative manufacturing processes.
Challenges and solutions
Despite its critical importance, the production of high-quality HPA faces several challenges:
Cost effectiveness: Traditional methods of HPA production, such as the hydrolysis of aluminum alkoxides, are often expensive and energy intensive.
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Purity requirements: Achieving and maintaining the high purity levels required for advanced applications is technically challenging and resource intensive.
Environmental impact: Conventional production methods can have a significant carbon footprint, which is at odds with the material's role in supporting low-carbon technologies.
In response to these challenges, companies like Impact Minerals (ASX:IPT), a Western Australian exploration and development company, are pioneering innovative approaches to HPA
production. Impact Minerals’ Lake Hope project, located 500 km east of Perth, exemplifies this innovation:
Proprietary low-temperature leach (LTL) process: This method aims to produce high-quality HPA at reduced capital and operational costs compared to traditional techniques.
Proven effectiveness: The LTL process has successfully produced 99.99 percent aluminum oxide, demonstrating its potential for large-scale application.
Sustainable production: By utilizing lake clays as a raw material and employing a low-temperature process, the Lake Hope project aligns with sustainable production principles.
Impact Minerals is currently conducting a prefeasibility study for the Lake Hope project, scheduled for completion in early 2025. This study is expected to provide crucial insights into the project's
economic viability and its potential to address the growing demand for HPA in a sustainable manner.
As a validation of its project’s potential, Impact Minerals was recently awarded a $2.87 million federal grant for the commercialisation of its innovative process to produce HPA from the Lake Hope
project.
The funding is part of an estimated $6.4 million research and development project to be completed within three years and designed to provide Impact Minerals with the relevant information
required to complete a definitive feasibility. The grant will also enable the company to construct a pilot plant, expected to be completed in 2025, which will provide consistent material for offtake
and qualification trials.
“We believe that we can produce HPA at the lowest cost globally from what we understand at the moment. And that's a very important space to be. You've got to be in the lowest cost quartile, no
matter what commodity you're in, in order to make it through the cycle,” the company’s CEO Dr Mike Jones told Investing News Network in a recent interview.
Key takeaway
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HPA’s critical role in enabling energy-efficient technologies serves as a cornerstone of the transition to a low-carbon economy. As demand continues to surge, driven by the growth of electric
vehicles and LED lighting, the need for innovative, cost effective and environmentally friendly production methods becomes increasingly urgent.
Projects like Impact Minerals' Lake Hope, supported by strategic partnerships and funding programs, represent the future of HPA production. By addressing the challenges of cost, purity and
environmental impact, these innovations are paving the way for a more sustainable and efficient HPA industry, and opening up multiple avenues for investing.
Rio Tinto lifts force majeure for Australian alumina exports
Rio Tinto Group lifted restrictions on exports of alumina from its Gladstone refineries in Australia.
Rio had declared force majeure — a legal clause allowing a company not to fulfill contractual obligations because of circumstances outside its control — on third-party contracts in May after an
incident limited its supplies of natural gas. That limitation has been lifted and operations are near normal, S&P said, citing market sources.
A Rio spokesperson was not immediately available for comment.
The halt added to a spate of supply disruptions from Jamaica to China that have sent alumina prices to record highs in recent weeks and squeezed the smelters that turn the intermediate product
into aluminum. Rio produces alumina at its Yarwun refinery and at Queensland Alumina, a venture with Russia’s United Co. Rusal International PJSC.
