Futures: SHFE aluminium closed at RMB 23,170 per tonne in the daytime session (down 0.22 per cent), moving sideways. Prices barely held above the MA5 (23,111) but were capped by the MA10 (23,199) and MA30 (23,352), with the bearish alignment of moving averages unchanged. The MACD formed a golden cross below the zero axis (DIF -132.31, DEA -150.30), with the red histogram expanding to 35.98, but trading volume shrank sharply to 43,600 lots, and the volume-price divergence limited the rebound height. The core trading range for SHFE aluminium is suggested at 22,900-23,400. LME aluminium closed at USD 3,082 per tonne (up 0.31 per cent). Prices held above the MA5 (3,063.8), MA10 (3,072.5), and MA30 (3,068.4), but remained capped by the MA60 (3,166.4), in a weak recovery phase within the...
India’s Directorate General of Trade Remedies (DGTR) has initiated an anti-dumping investigation into imports of aluminium extrusion profiles, structures and articles from China, Malaysia, Vietnam and Thailand following a complaint by the Aluminium Extrusion Manufacturers Association of India (ALEMAI). The investigation will examine imports between April 1, 2025 and June 30, 2026. The injury assessment will cover the period from 2022-23 to June 30, 2026. ALEMAI, which represents 228 domestic manufacturers, alleged that a significant increase in dumped imports from the four countries had caused injury to India's aluminium extrusion industry. Explore further insights and forecasts for the aluminium flat rolled products (FRP) market from our comprehensive report - Aluminium Flat Rolled...
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According to the IMF, Jamaica's GDP grew 1% in 2019, against 1.9% in 2018. According to the updated IMF forecasts from 14th April 2020, due to the outbreak of the COVID-19, GDP growth is expected to fall to -5.6% in 2020 and pick up to 3.5% in 2021, subject to the post-pandemic global economic recovery. The economy of Jamaica is heavily reliant on services, accounting for 70% of the country's GDP. Jamaica’s primary natural resource is Bauxite. Jamaica is the 3rd largest packaged food market in the Caribbean, excluding Puerto Rico. It is also forecasted that Jamaican retail food market to expand to $857 million by 2021, an increase of nearly 35% or $222 million. The nation’s aluminium cans import during 2017-19 has been recorded at 66,998 tonnes and the revenue expended remained at $16.74...
SMM aluminium ingot price registered a decline after two days of hike. The price edged lower by RMB 90 per tonne to stand at RMB 14590 per tonne on Thursday, 17 September 2020, from Wednesday’s price of RMB 14680 per tonne. The price is expected to range at RMB 14570-14610 per tonne. In Foshan and Wuxi, the price fell by RMB 40 per tonne and RMB 70 per tonne to stand at RMB 14770 per tonne and RMB 14610 per tonne on Thursday, 17 September 2020. Aluminium prices in Hangzhou and Chongqing came in at RMB 14610 per tonne each, down RMB 70 per tonne and RMB 65 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi dropped to stand at RMB 14575 per tonne, RMB 14620 per tonne, RMB 14680 per tonne, and RMB 14510 per tonne. The aluminium alloy (ADC12) price stood at RMB 14650...
China has performed into a net importer of aluminium and other metals for the third consecutive month in August’20. Since the country’s infrastructure blow-out in 2009 after the financial crisis, this was the first time in 11 years. The drift may boost India’s metals and mining sector which has been staggering under high debt amid volatile earnings. Chinese demand has shown a surging effect on Indian metal companies in the past. After the session of strong demand in 2009 from China, the Nifty Metal index had more than tripled to 4800 in March 2010 within a year. Aluminium companies such as Vedanta, Hindalco, NALCO, etc. are expected to benefit from the current trend in Chinese demand. Steel companies such as JSW Steel, Jindal Steel and Tata Steel have reported a strong jump in exports at...
The Shanghai Metals Market survey found that operating rates at aluminium plate and strip producers stood at 68.6 per cent in August, rising by 0.46 percentage point from the month earlier. However, on a year-on-year basis, the operating rates stood down by 1.76 percentage points, according to SMM. Backlog orders at producers could help them sustain production for 20 days on average, up 3 days from July. Production schedules at large producers were 21-45 days, while at smaller manufacturers were just 14 days. Orders for construction and decorative plate and strip were largely stable but for can stock and can tab weakened following summer high season. Demand for PS printing plates and 3C electronics materials was also weak, while demand for automotive sheet recovered slightly. Exports are...
The North Country Chamber of Commerce welcomed the US decision of lifting the recently-imposed 10 percent tariff on Canadian aluminium imports. "We and other partners across the country have been seeking the quick reversal of this self-harming tariff and we are pleased to see it has been withdrawn before doing greater economic damage, and before Canada understandably deployed countermeasures," stated Garry Douglas, Chamber President. Douglas concluded, "This tariff was bad for U.S. competitiveness and jobs, bad for Alcoa and its employees in the North Country based upon the high degree of integration of Alcoa operations here and in Quebec, and an added cost to our region's all important cross border supply chains, without which we would not have the dynamic and growing manufacturing...
Difference between the virtual and real world has almost waned over the years due to the increasing influence of digitalisation. The presence and impact of digitalisation have been more so felt during the COVID-19 pandemic when direct human interaction, or for that matter intervention, is limited. Besides the despondent fact that the COVID-19 pandemic has taken a toll on the global economy, it is the pandemic that has further catalysed digital transformation across business models of various industrial sectors, including aluminium, resulting in better digital offerings and adoption. Digitalisation in Aluminium Industry: While going digital is not new to the aluminium industry, the revolutionary transformation that industry is going through in recent times with a large number of smelters...
Secat, Inc., a metallurgical research laboratory specializing in aluminium product and process technologies, appoints Todd Boggess as President and hires Dr Nick Nanninga as Technical Director. Todd Boggess joined Secat Inc. in 2001 as Business Manager, where he was responsible for HR, Finance and Accounts. In 2012, he was promoted to VP Business Development and General Manager. Todd received a bachelor’s degree in Economics from the University of Kentucky and an MBA from Western Kentucky University. Todd states “Secat is the leading independent provider of metallurgical services for the aluminium industry. The incredibly talented and dedicated staffs are the core strength of our business, and I look forward to building on the many successes that have already been accomplished.” Dr Nick...
On Wednesday, September 16, three-month LME aluminium fell from an intraday high of US$ 1,804.50 per tonne to close at an intraday low of US$ 1,789.50 per tonne. It is likely to fluctuate between US$ 1,770-1,820 per tonne today. LME aluminium cash (bid) price and LME official settlement price declined to US$ 1759 per tonne on Wednesday, September 16, following a hike last day from US$ 1749 per tonne to US$ 1767 per tonne. 3-months bid price and 3-months offer price hovered at US$ 1798 per tonne, down from US$ 1806.50 per tonne on September 15. Dec 21 bid price and Dec 21 offer price came in at US$ 1873 per tonne. The LME aluminium opening stock stood at 1510400 tonnes. Live Warrants hovered at 1251175 tonnes, while Cancelled Warrants at 259225 tonnes. LME aluminium 3-months Asian...
A new smelter will be built adjacent to its billet manufacturing facilities to recycle scrap aluminium from Rio Tinto and its customers who turn ingots into value-added products. The facilities will have the capacity to remelt 30,000 tonnes of scrap per year to manufacture new billets. The billets cast from this scrap will be identified as a recycled product, which now has a value in the market. Ghita Ouaziz, General Manager of Shawinigan Aluminum, said: "The traceability of the billets will be established and we can provide this information to our customers who request it.” In 2014, in support with the Quebec Government, a Quebec consortium took over the casting centre that Rio Tinto wanted to pull down. Shawinigan Aluminum continues to manufacture billets there and did some recycling....
According to the latest data shared by the Shanghai Metals Market, China’s secondary aluminium producers operating rates gained 2.8 percentage points month-on-month in August to stand at 53.1 per cent. However, on a year-on-year basis, the operating rates fell by 3.4 percentage points. In July, Chinese secondary aluminium operating rates were 50.3 per cent, up by 2.3 percentage points month-on-month but down by 5 percentage points over the year. In June, however, the operating rates at China’s secondary aluminium makers declined month-on-month by 0.7 percentage points to come in at 48 per cent. The consecutive rise in operating rates in July could be attributed to the lower imports of aluminium alloys from early August, resulting in market shares of domestic cargoes. Besides, some...
Quebec’s political leaders and aluminium industry players wholeheartedly welcomed the US decision of cancelling the 10 per cent tariff on primary aluminium ingots from Canada, according to a report on Tuesday, September 15. “Very good news for the Quebec’s aluminum producers,” tweeted Pierre Fitzgibbon, the province’s economic development minister. He thanked the efforts of the federal government behind successfully coordinating with American legislators and convincing them to scrap the tariff. He pointed out nine of Canada’s ten aluminium smelters, built largely by American investors and manufacture mostly for the American market, are located in Quebec, while the tenth is located in Kitimat, British Columbia. Catherine Loubier, Quebec’s delegate general in New York, and Kirsten Hillman,...
Emirates Global Aluminium announced on Tuesday, September 15, that it resumed hiring young Emirati talent for technical roles through its National Training programmes, following a pause due to the COVID-19 pandemic. Since July, Emirates recruited some 21 young Emiratis as the first batch of new trainees since the start of the pandemic. Emirates’ National Training Programmes have been helping UAE Nationals since 1982 develop their technical skills while allowing them to work in operational areas in EGA’s smelters and power plants. In the new normal life, EGA has adopted online classroom training programmes to educate the new batch both theoretically and practically, ensuring quality learning and well-being of the trainees. Abdulnasser Bin Kalban, EGA’s Chief Executive Officer, said: “We...
Canada has dropped its threat to impose retaliatory sanctions against U.S. aluminium products after Washington announced its decision to remove a 10% levy on Canadian aluminium imports. Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland welcomed the decision at a press conference in Ottawa on Tuesday. Canadian Trade Minister Mary Ng welcomed the US decision to drop its tariffs. Mary Ng said, "Canada will not be imposing reciprocal counter-measures on the United States." The US declared that it would no longer impose a 10% tariff on Canadian aluminium imports. It has been presumed that following the rise of retaliation from Ottawa, Donald Trump administration has changed its mind. The Office of the US Trade Representative (USTR) said in a statement: "After consultations...
Craft beer company Belching Beaver, based in San Diego, has extended its product portfolio with the launch of a unique hard seltzer made of 100% real fruit. The new range is available in Ardagh Group 12 oz. cans. Belching Beaver Hard Seltzer comes in three flavours (Raspberry & Blackberry, Pineapple & Mango, Passionfruit & Guava). Belching Beaver Brewmaster Troy Smith said: “Our hard seltzer is absolutely unique with real fruit, real taste that consumers will recognise as something different". “By giving consumers the choice of real fruit in their hard seltzer, we hope to gain some traction as we build our brand in a crowded marketplace. Going forward, we expect the seltzer line to be a great addition to our lineup of beers. And like we say, open the can, take a sip, close your eyes and...
China's unwrought aluminium alloy imports in June 2020 increased by 88.3 per cent month-on-month and 754.5 per cent year-on-year to stand at 131,000 tonnes, in contrast to the downfall in exports, according to the latest China customs data. With this hike in imports, China secured total 466,500 tonnes of unwrought aluminium alloy in the first half of 2020. On a year-on-year calculation, China’s total unwrought aluminium alloy imports in H1 2020 surged by 706.1 per cent. This stupendous hike in China’s unwrought aluminium alloy imports in June 2020 could be attributed to the sharp rise in orders for imported aluminium alloy from late April in tandem with the growth in demand. Almost all the cargoes arrived in June. However, in July, the imports are likely to reduce below 100,000 tonnes...
Vedanta has hiked its aluminium ingot price today after cutting the price of the same products last week. With effect from Wednesday, 16 September 2020, the prices of some aluminium ingots are in the range of INR 147,750-160,750 per tonne. That is up INR 2,000 per tonne from INR 145,750-158,750 per tonne on Friday, 11 September 2020. With the latest hike, Vedanta’ billet now stands at INR 155,750 per tonne on September 16, an increase of INR 2,000 per tonne from INR 153,750 per tonne on September 11. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down so far due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost...
The industrial sector in Chile contributed 30% of GDP in 2019 and employed 22.8% of the working population, the same as in 2018, according to the World Bank. However, the sector has increased by 4.3 in 2019, showing signs of great productivity. According to the updated IMF forecasts from 14th April 2020, due to the outbreak of the COVID-19, GDP growth is expected to fall to -4.5% in 2020 and pick up to 5.3% in 2021, subject to the post-pandemic global economic recovery. The Latin American nation’s importation of aluminium bar rods and profiles during 2017-19, reflects a sudden growth with a gradual fall, as the import volume recorded during the phase remains at 39,677 tonnes and the revenue expenditure occurred stands at $147.14 million. The projected import for 2020 has been marked at...
Canyon Resources Ltd has appointed Peter Su as a Non-Executive Director, following the successful $10m equity placement in the Company. Canyon’s Chairman, David Netherway said, “I am pleased to welcome Peter Su to the Canyon Resources Board of Directors. Peter has shown his support for the Company and the Minim Martap Bauxite Project by his investment into the Company and his background and contacts within the bauxite and alumina industries in China will assist the timely development of the Project.” The Placement introduced Peter Su as a new strategic investor in Canyon. Su has subscribed for approximately $5.6m at $0.10 per Share, representing a 9.4% shareholding in Canyon post-Placement. Su has agreed to place his shares acquired in the placement into voluntary escrow for 6 months from...
