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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Emirates Global Aluminium has announced its annual financial report of 2018, where it is found that the UAE’s biggest industrial company outside the oil and gas sector has earned a net income of AED 1.2 billion ($325 million), 64 per cent down from AED 3.3 billion ($900 million) in 2017. This havoc decline in EGA’s net income is attributable to the surging costs of raw materials, which is why the company wants to start its alumina refinery in Abu Dhabi and bauxite mine in Guinea. These two projects are expected to reduce the company’s expense towards securing raw materials from overseas and help in boosting its net profit, as a result. Adjusted EBITDA, which was at AED 6.6 billion ($1.8 billion) in 2017 also decreased by 33 per cent in 2018 to AED 4.4 billion ($1.2 billion), despite a...
Altech Chemicals Limited has officially mandated Macquarie Bank (Macquarie) as the preferred mezzanine lender for its proposed high purity alumina (HPA) plant. Both the companies have reached agreement on mezzanine debt terms and executed a mandate letter appointing Macquarie as the exclusive mezzanine debt provider. The agreement is subject to its usual due diligence processes such as legal, market and technical. “Completion of the mezzanine facility by Macquarie is conditional upon its view of all due diligence outcomes and agreement with KfW-IPEX Bank on inter-creditor arrangements,”Altech said in its press release. Altech has completed a Final Investment Decision Study (FIDS) for the construction and operation of a 4,500tpa HPA plant at the Tanjung Langsat Industrial Complex, Johor,...
Aleris Corporation reported revenues of $3,446 million in 2018 compared to $2,857 million in 2017. The increase was primarily attributable to increased volumes and higher average aluminium prices. Net loss of $92 million in 2018 compared to a net loss of $211 million in 2017. Adjusted EBITDA increased from $201 million to $276 million due to strong demand, improved rolling margins, improved operating performance and a favorable metal environment in North America were partially offset by significantly higher freight costs in North America, the automotive ramp-up in Lewisport and the higher cost structure of the Lewisportfacility. Sean Stack, Chairman and CEO said: "Our global growth strategy delivered strong results in 2018 with record volumes and record adjusted EBITDA. Our Lewisport,...
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, dropped 9,000 tonnes over the weekend and came in at 1.74 million tonnes, as on Monday, March 11. This marks the first decline after the Chinese New Year holiday as downstream consumers returned and became active in purchasing primary aluminium on the price drop. The chart below indicates the current status of primary aluminium across the major Chinese markets: As the above chart indicates, the primary aluminium inventory in Wuxi, Jiangsu plunged 9,000 tonnes from 639,000 tonnes, as on Thursday, to 630,000 tonnes today. In Shanghai, the inventory dipped 3,000 tonnes from 313,000 tonnes to 310,000 tonnes, while that in Gongyi, Henan dropped...
Malaysia imported 161,000 tonnes of crude metal and alloys, aluminium semi-finished products (plates, sheets, bars, etc.) and scrap from the US in the first eleven months of 2018, an increase of 109400 or 212% from 51,600 tonnes in the first eleven months of 2017. {newsStudioGallery} Total aluminium imports by Malaysia stood at 19,800 tonnes in November 2018, up 10420 tonnes or 111% from 9,380 tonnes in November 2017, according to the latest Mineral Industry Survey report from US Geological Survey. On month on month comparison, total imports increased 18.56% from the October volume of 16,700 tonnes. Aluminium scraps imports from the US increased from 46,000 tonnes during January-November 2017 to 156,000 tonnes during January-November 2018. This marks a jump of 110000 tonnes or 239.13%...
Metro Mining has reportedly appointed MBA and honours degree graduate Fiona Murdoch to its board. Murdoch is delighted to be joining the board and looking forward to contributing skills to ensure that Metro maximises all available opportunities, said herself according to the report. Giving her appreciation to the board, senior management, and the entire team who had been the constant pillars of the company from explorer to miner, she made a special mention that “construction of the Bauxite Hills Mine was conducted in just five months and production guidance was reached in the first year of mining operations.” She further added, “The challenge is now to build upon that, reduce costs, and increase value for all shareholders.” The newly appointed board member Fiona Murdoch is a graduate from...
According to Shanghai Metals Market, the A00 aluminium ingot price has dropped over the weekend by RMB 40 per tonne to stand at RMB 13,610 per tonne. The average prices are expected to range between RMB 13,590 per tonne and RMB 13,630 per tonne, with spot discounts to settle at RMB 50 per tonne to RMB 10 per tonne. In the east (Wuxi and Hangzhou), the aluminium ingot price has plunged by RMB 40 per tonne and RMB 35 per tonne to RMB 13,605 per tonne, each. In the south and north, on the other hand, the price has shrunk by RMB 40 per tonne and RMB 30 per tonne to hover at RMB 13,600 per tonne and RMB 13,610 per tonne, respectively. As far as the input costs are concerned, the alumina spot price shows no change today from RMB 2,731 per tonne. In all the major markets in east and central...
The US dollar fell against most major currencies on Friday. Base metals, except for LME aluminium, declined across the board last weekend. SHFE metals kept their declines within 1%. LME aluminium price closed Friday’s trading at US$ 1848 per tonne. This was up 0.38 per cent from US$ 1841 per tonne on Thursday. LME aluminium faced pressure from the 10-day moving average after it rose to a high of US$1,888.5 per tonne last Friday night. It is likely to trade at US$1,840-1,900 per tonne today. As on March 8, LME aluminium cash (bid) price stood at US$ 1846 per tonne, LME official settlement price stands at US$ 1848 per tonne; 3-months bid price stands at US$ 1870 per tonne, 3-months offer price is US$ 1872 per tonne; Dec 20 bid price stands at US$ 2008 per tonne, and Dec 20 offer price...
China’s exports of unwrought aluminium and aluminium products reduced 7.7 per cent year-on-year in February, showed data from China Customs released on Friday March 8. China, the world’s top aluminium producer, exported 343,000 tonnes of these products last month. The figure was down a whopping 37.86 per cent or 209,000 tonnes from January’s record high of 552,000 tonnes. China’s exports of unwrought aluminium and aluminium products came in at 896,000 tonnes in the first two months of 2019, an increase of 9.7 per cent year on year. In 2018, China recorded a total export of 5.8 million tonnes of unwrought aluminium and aluminium products, up 20.9 per cent from a year earlier, despite a 10 percent tariff on aluminium imports into the United States imposed in March.
Norsk Hydro is nominated for a Green Award in the category “Innovation of the year” for its technology pilot in Karmøy. The award ceremony will take place as part of the Green Tech Festival 2019 in Berlin, May 24. “A lot of Hydro people have put so much effort into making the technology pilot a reality. They deserve this award,” said Head of technology in Hydro Primary Metal Thorvald Mellerud. The technology pilot has been in full operation since June 2018 and “aims to verify at an industrial scale the world’s most energy and climate-efficient technology for aluminium production,” the company said. The technology will use 15% less energy during production. “We are honored to be nominated and I hope as many as possible in Hydro will vote for us. The realization of the technology pilot is...
According to a recent report, Canadian aluminium exports to Europe are expected to extend rise this year, if the Section 232 tariff is not lifted by the United States. Since when the Trump administration levied 10 per cent tariff on aluminium and 25 per cent on steel imports in March 2018, Canada had been diverting primary aluminium P1020 shipments to Europe, where Canadian exports have duty free status. Consequently, Canadian aluminium exports to Europe rose by more than 11-fold to 15,927 tonnes in 2018, up from 1,362 tonnes in 2017, trade data showed. Canada’s aluminium deliveries to the US last year thus accounted for 4.5 per cent of the region’s total imports of 353,279 tonnes. The surge in exports was also partly driven by the US sanctions on Russian giant Rusal, as buyers secured...
China’s production of primary aluminium decreased 1.54 per cent in February, and stood at 2.68 million tonnes, as reported by Shanghai Metals Market. Domestic primary aluminium capacity under operation stood at an annualised 35.9 million tonnes by the end of last month, a decrease of 130,000 tonnes per year from a year earlier. Despite new capacity at Inner Mongolia’s Chuangyuan and Guyang smelters, capacity cuts at Shaanxi Hengkang, Shandong Huayu, Shanxi Huasheng, Shanxi Huaze, Jiaozuo Wanfang, and Inner Mongolia Tongshun Aluminum kept operating capacity at lows in February. Primary aluminium output is expected to drop 1.6 per cent year-on-year to 2.98 million tonnes in March. Domestic primary aluminium capacity under operation is estimated at an annualised 36.05 million tonnes by the...
In a press release to AlCircle.com, the Achenbach OPTIFOIL® brand says that it has emerged as one of the global world-class brands for aluminium doublers, separators, and slitters. It mentions that currently the demand for its winding and slitting machinery for slitting thin aluminium, non-ferrous metal foils, and other compound materials like printed and laminated foils and stock material for deep-drawn products are on upswing. Technology component lubricator “With continuous development work on the component level we maintain a position as specialist and leader in technology and quality with innovative key technology components also in this segment: Leading producers of food packaging for demanding customers or applications and with a decade-long experience in foil printing and...
Mexico is popularly known for having a large number of secondary aluminium smelters and die-casters which cater to the domestic automotive industry- globally the seventh-largest in production volume. Most of these smelters use aluminium scrap imported from various parts of the world, but mainly from the US Mexican scavengers, known as buscabotes (literally: can seekers). They salvage aluminium cans from dumpsters and residential garbage and sell them across the border where they are used by the automotive OEMs. The market for recycled aluminium in Mexico shows a strong demand for scrap due to significant differences in prices for the virgin and secondary metal. According to our third-party data, Mexico’s aluminium scrap import is estimated to see a year-on-year rise this year to 477,743...
Altech Chemicals Limited provides an update on the transition by lithium-ion battery manufactures to high purity alumina (HPA) coated battery separator sheets. This is apparent from recently announced quarterly sales data by Japanese separator sheet manufacturer W-Scope (6619 JT) and from the company recent attendance at the Battery Japan 2019 conference, held in Tokyo. W-Scope reported in its Q4 2018 results that as a proportion of total sales, HPA coated separator sheets jumped to 51%, compared to an average sales volume of 34% in the preceding four quarters. W-Scope announced annual sales revenue guidance of ¥17.5bn for 2019, which compares to actual annual sales revenue of ¥8.7bn for 2018. For 2020, the company expects a further increase in sales revenue, primarily on the back of...
According to Shanghai Metals Market, China’s alumina production in February came in at 5.64 million tonnes, after rising 10.93 per cent year-on-year. The average daily output stood at 201,000 tonnes, while annualised capacity in operation recorded at 73.46 million tonnes. This year-on-year rise in China’s alumina production is attributable to the complete maintenance of refineries in Guangxi, higher operating rate in Guizhou as bauxite shortages eased last month and excess production in Shanxi. Last month, Shanxi Zhaofeng returned online after it shut during the Chinese New Year holiday on bauxite supply issues. Ore shortages drove Shanxi Xinghua to close some 350,000 tonnes of capacity. SMM expects the average daily output of alumina will rise further in March by 2,000 tonnes compared...
The US dollar increased against a basket of currencies, to a near three-month peak as the euro sold off. Base metals declined for the most part last night. LME aluminium inched up and SHFE aluminium closed slightly lower. LME aluminium price closed lower from previous day at US$ 1841 per tonne during the day’s closing yesterday. This was down 0.27% from US$ 1846 per tonne. LME aluminium rebounded after it dipped to a low of US$1,857 per tonne. The metal ended at US$1,863 per tonne. LME aluminium is likely to trade at US$1,840-1,890 per tonne today. As on March 7, LME aluminium cash (bid) price stood at US$ 1840.5 per tonne, LME official settlement price stands at US$ 1841 per tonne; 3-months bid price stands at US$ 1863 per tonne, 3-months offer price is US$ 1864 per tonne; Dec 20 bid...
Rio Tinto has completed commissioning of the Amrun bauxite mine in Queensland, Australia. The company said that the mine and associated processing and port facilities will replace production from Rio Tinto’s depleting East Weipa mine. Rio Tinto will increase annual bauxite export capacity by around 10 million tonnes, at a time when higher-grade bauxite is becoming scarcer globally. Rio Tinto chief executive J-S Jacques said: “Amrun was completed early and under budget, demonstrating Rio Tinto’s productivity and innovation capabilities. By applying fresh thinking we also delivered safety, environmental, cost and timing benefits. “Amrun will provide jobs, support businesses and contribute to growth in the region for the next 50 years, building on $A2.2 billion of contracts with local, State...
