Futures: SHFE aluminium closed at RMB 22,530 per tonne, rebounding 1.1 per cent. Despite the positive close, prices remained under pressure below all key moving averages (MA5=22,727, MA60=23,633), with the medium-term bearish alignment intact. MACD indicator lines (DIF=-244.16, DEA=-188.68) operated below the zero axis, but the green bars narrowed significantly to -110.96 (previous day -150.62), indicating a marked weakening of bearish momentum and initial signs of a technical bottom divergence repair. Trading volume expanded to 101,500 lots, suggesting capital inflows at the bottom. The recommended core trading range for SHFE aluminium is 22,000-22,800. LME aluminium closed at USD 3,078.5 per tonne, surging 2.02 per cent. Prices rebounded strongly, reclaiming MA5 (3,061.5), MA10...
Novelis is advancing beverage can coating testing and research resulting from its long-standing relationship with the Georgia Institute of Technology (Georgia Tech). Researchers from Georgia Tech’s School of Chemical and Biomolecular Engineering, working in collaboration with Novelis, have developed advanced testing capabilities that significantly reduce the time required to evaluate how beverages interact with protective coatings inside aluminum cans. The new approach allows researchers to collect data throughout the testing process, providing a clearer picture of how coatings perform while reducing testing cycles from months to just weeks. For beverage makers, faster testing could mean faster decisions about packaging and ultimately help shorten the time it takes to bring new products...
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The US dollar weakened after progress in Brexit negotiations between the European Union and Britain. Base metals rose across the board and LME aluminium grew over 1% and SHFE aluminium closed higher. LME aluminium closed the day’s trading at US$ 1851 per tonne yesterday. Then the contract slid and returned to the five-day moving average after a lower US dollar lifted it to a high of US$1,881.5 per tonne overnight. It closed at US$1,877.5 per tonne. We expect it to test pressure at the 40-day moving average today, with trading range at US$1,840-1,900 per tonne. As on March 12, LME aluminium cash (bid) price stood at US$ 1850 per tonne, LME official settlement price stands at US$ 1851 per tonne; 3-months bid price stands at US$ 1877 per tonne, 3-months offer price is US$ 1878 per tonne; Dec...
Hazlemere Commercial, manufacturer of aluminium windows, doors, and curtain walling for the commercial sector, announced that it has received a contract to manufacture and install aluminium windows and doors for one of the new mixed use blocks next to the Eden Centre in High Wycombe. “Local developers, specialising in substantial mixed use new build projects have awarded Hazlemere Commercial a prestigious contract to survey, manufacture and install all the new aluminium windows and doors for one of the new mixed use blocks next to the Eden Centre in High Wycombe, Hazlemere Commercial said. “The substantial development is on the old gasworks site smack bang in High Wycombe town centre, comprising primarily of high rise residential apartments, but also shops and offices at ground level.”...
According to Shanghai Metals Market, the A00 aluminium ingot price continued to rise today to RMB 13,730 per tonne. Yesterday the price was at RMB 13,680 per tonne, which indicates that the price today grew by RMB 50 per tonne. The average prices are expected to range between RMB 13,710 per tonne and RMB 13,750 per tonne, with spot discounts to settle at RMB 40 per tonne. In the east (Wuxi and Hangzhou) and in the north, the A00 aluminium ingot price also recorded an increase by RMB 50 per tonne to RMB 13,720 per tonne and RMB 13,700 per tonne, respectively. In the south, on the other hand, the ingot price grew by RMB 60 per tonne to stand at RMB 13,710 per tonne. But the input costs showed no change today except the aluminium powder, which rose from RMB 17.20 per kg to RMB 17.30 per kg....
Aluminium Bahrain B.S.C. (Alba) announced a major safety milestone as its Line 6 Smelter project achieved 30 million working-hours without Lost Time Injury (LTI) as of 31 December 2018. A ceremony was held on Sunday 10 March 2019, to mark the occasion. It was attended by Alba’s Deputy Chief Executive Officer Ali al Baqali, Chief Marketing Officer Khalid Latif, Chief Power Officer Amin Sultan, Director Line 6 Smelter Project and Engineering Shawqi Al Hashimi and Director Safety, Health and Environment Mohamed Khalil, Line 6 Smelter Project team along with other contractor teams. The Chairman of Alba's Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, said said: “Alba believes in ‘walking the talk’ on matters in relation to Safety, Health and Environment. This achievement...
New reforms if implemented, including a deposit return scheme (DRS), may double the aluminium recycling and prevent around £50 million of wasted resources each year each year, as suggested by environment think tank Green Alliance report. The report titled ‘Closing the loop: Four steps towards 100 per cent aluminium packaging recycling’ looks at the state of aluminium recycling in the UK and proposes a number of ways for improvement. The report was released yesterday, March 11. Per the report, the United Kingdom in 2017 had recycled 51 per cent of aluminium packaging, including 72 per cent of aluminium drink cans. But despite this high recycling rate, £50 million of used aluminium packaging go to waste each year. The report suggests that more aluminium should be extracted from the waste...
A subsidiary of Emirates Global Aluminium (EGA), Guinea Alumina Corporation is about to secure financing of US$700 to US$750 million for a new bauxite project in the Republic of Guinea, EGA’s chief financial officer Danny Dweik told Reuters on Monday, March 11. He confirmed that the financing is towards a US$1.4 billion bauxite mining project EGA is developing through its wholly-owned subsidiary in Guinea. That would be the largest Greenfield project in the West African country in the last four decades. “The project financing is ongoing, it is in the final stages,” Dweik said. “We are hoping to close very soon.” Dweik revealed this after the company announced its financial results for 2018 yesterday. EGA reported net income of 1.2 billion dirhams ($325 million) for 2018, down 64 per cent...
Mahindra CIE Automotive Ltd’s Board of Directors today resolved to acquire the business of Aurangabad Electricals (AEL) through acquisition of 100% of equity shares for an enterprise value of INR 8756 million, which includes a future deferred payment estimated up to INR 622mn. Aurangabad Electricals, based in Aurangabad, India, is a manufacturer of automotive aluminium die casting products. It produces a variety of body, brake and engine parts through high-pressure die casting as well as gravity die casting processes. With five manufacturing facilities in the country across Aurangabad, Pune and Pantnagar, AEL has been promoted by the Bagla Group and has been led by Rishi Bagla. Ander Arenaza, Chief Executive Officer of MCIE commented: "This acquisition allows MCIE to enter the aluminium...
China’s new light-vehicle sales again dropped in February 2019 registering a drop of 17% YoY to fewer than 1.22 million cars and light trucks, mostly driven by the sluggish growth in the economy. However, driven by the carbon credit program started by China government during the beginning of the year, automakers in the country continued to ramp up electrical vehicle output in February. As a result, sales of EVs and plug-in hybrids registered a rise. Automakers delivered about 53,000 EVs and plug-in hybrids in February, a jump of 54 per cent YoY. Demand for EVs advanced 69 per cent to around 40,000 while plug-in hybrid sales rose 19 per cent to about 13,000. Total sales of EVs and plug-in hybrids for January and February nearly doubled to 148,000, with EV sales soaring 128 per cent to some...
Indonesian state miner PT Aneka Tambang (Antam) recorded a profit of 874.42 billion rupiah ($61.06 million) in 2018, compared with 136.50 billion rupiah in 2017. The increase was due to higher output and sales of commodities such as nickel and bauxite, as well as lower costs. Antam achieved revenue of 25.24 trillion rupiah in 2018. This was up 99.53 per cent from 12.65 trillion rupiah in 2017. The company’s bauxite output was 1.10 million tonnes last year, an increase of 70 per cent from a year earlier. Bauxite sales volume amounted to 920,031 tonnes, a 10 per cent increased from 2017. Antam aims to start building smelter-grade alumina refinery in Mempawah, West Kalimantan in 2019. First stage will sees the construction of the refinery with a capacity of 1 million tonnes. Finance Director...
Mexico imports a large amount of aluminium, including crude metal and alloys, aluminium semi-finished products (plates, sheets, bars, etc.) and scrap, from the United States. According to USGS data, Mexico imported 750,000 tonnes between January and November, compared with 675,000 tonnes in the same period last year. Thus, the country’s total aluminium import in the first eleven months of 2018 rose 11 per cent year-on-year. Until October 2018, Mexico had imported a total of 682,000 tonnes. {newsStudioGallery} Out of this, Mexico in November 2018 imported 37,900 tonnes of aluminium plates, sheets and bars from the United States, down 3.06 per cent from 39,100 in October 2018, but up 17 per cent from 32,500 in November 2017. This shows that although the country’s aluminium plates, sheets...
According to the latest report from Aluminum Association aluminium demand in the United States and Canada (shipments by domestic producers plus imports) was up 4% over the 2017 to an estimated 12.8 million tonnes in 2018. Demand for semi-fabricated (mill) products was also up 4% to 9.2 million tonnes during the year. Exports of aluminium ingot and mill products from the U.S. and Canada in 2018 were up 15.4% over 2017 to 1.5 million tonnes, while imports were off 6.2% to 3.8 million tonnes. In the month of December 2018, demand for aluminium semi-finished products in the United States and Canada was up 6.9% YoY to an estimated 696,264 tonnes. In December 2018, shipments of aluminium sheet and plate were up 9.7% YoY to 415,491 tonnes. Extruded product shipments increased 3.4% year-over-year...
The Canadian government will reportedly fund $100 million, including $26 million for Quebec, in a bid to support domestic small and medium-sized enterprise aluminium and steel manufacturers. The news came when Navdeep Bains, minister of innovation, science and economic development made the announcement at Nova Steel in Hamilton on Monday, March 11. The objective of this new initiative is to support small and medium-sized producers across the country, who had been impacted the most by the US metal tariffs. The government believes this funding will help their businesses to drive productivity, scale up, and expand into new market to create good middle-class jobs. Bains said in a statement: “In the face of unjust and illegal U.S. tariffs hurting businesses and workers on both sides of the...
Constellium is installing a new aluminium extrusion press to expand capacity at its plant in Singen, Germany. The company will construct a dedicated 8,000 sq m hall on its Singen campus for an expected start of production in mid-2020. Paul Warton, president of Constellium’s Automotive Structures and Industry Business Unit said: “Extrusions are the foundation of our Automotive Structures product portfolio. As our business continues to grow, Singen has become a diverse provider of complex, high-strength extrusions of all sizes, shapes, strengths and gauges for our automotive programs, as well as our rail, transportation and industrial customers. This new press increases not only capacity, but advances our efficiency and capability.” The company expects approximately 50 new jobs will be...
A press release from Aluminium Stewardship Initiative announced that Shanghai Shenhuo Aluminium Foil Co., Ltd. has been successfully certified against ASI’s Performance Standard for responsible production, sourcing and stewardship of aluminium. This is the second company in China to achieve Certification to the ASI Performance Standard, demonstrating its commitment to sustainability. The company manufactures wide and super-thin aluminium foil used in packaging for food and drinks, cigarettes, as well as medicine and cosmetics. Shanghai Shenhuo Aluminium Foil Co., Ltd. is a joint venture, founded by Henan Shenhuo Group and Shenmei International investment Co., Ltd (Hong Kong). The independent, third-party audit of Shanghai Shenhuo Aluminium Foil was carried out by DNV GL. The ASI...
Following the news last week that Altech Chemicals officially mandated Macquarie Bank as the preferred mezzanine lender for the HPA, the update comes that the stage one construction work of Altech’s high purity alumina (HPA) processing plant in Johor, Malaysia, is progressing as planned. The initial site establishment activities are now complete and the site is fully fenced and secured, as the company declared. The site construction office has been erected, a security post has been installed, a vehicle wash down bay is established with sediment control, a site weather monitoring station is in place, and temporary ablutions are installed already. Also, a site safety induction process has been established, with all entry onto the site strictly controlled. Site security personnel have been...
The US dollar slipped into negative territory, following an anticipated retail sales report that drew little reaction from the greenback. Base metals closed mixed and aluminium fell 0.51%. SHFE aluminium climbed. LME aluminium closed lower on Monday at US$1830 per tonne. After that a weaker US dollar lifted it to a high of US$1,876 per tonne last night. However, the contract dipped to US$1,845 per tonne, the lowest since February 14 and finally closed lower on the day at US$1,855.5 per tonne, with open interests down 4,251 lots to 663,000 lots. With resistance at the 20-day moving average, LME aluminium is likely to trade at US$1,800-1,890 per tonne today. As on March 11, LME aluminium cash (bid) price stood at US$ 1829 per tonne, LME official settlement price stands at US$ 1830 per...
According to Shanghai Metals Market, A00 aluminium ingot price rose from RMB13610 per tonne to RMB13680 per tonne as of Tuesday, 12 March 2019, representing an increase of RMB70 per tonne or 0.51 per cent. The price is expected to range between RMB13660 per tonne and RMB 13700 per tonne, with spot discounts to settle at RMB 40 per tonne. In the east (Wuxi and Hangzhou), the aluminium ingot price grew RMB 65 per tonne to RMB 13670 per tonne, each. Their prices are expected to range between RMB 13660 per tonne and RMB 13680 per tonne. In the south and north, the price increased RMB 50 per tonne and RMB 40 per tonne to hover at RMB 13650 per tonne, each. Their prices are expected to range between RMB13630 per tonne and RMB13670 per tonne and RMB13640 per tonne and RMB13660 per tonne....
The China Association of Automobile Manufacturers (CAAM) said sales of passenger cars in China fell 17.4 per cent in February from the same month a year earlier. Sales of passenger cars stood at 1.22 million units. This followed after a YoY drop of 17.71% in passenger vehicle sales in January. China’s automobiles sales declined 14.9 per cent year-on-year in February and came in at 1.48 million automobiles, CAAM data showed on Monday March 11. This compared with January’s decline of 15.8% on a yearly basis. Sales of new energy vehicles (NEVs) increased 53.6 per cent year-on-year in February. CAAM data showed that China's sales of NEVs in January-February increased 98.9% from the same period in 2018.
