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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According to Shanghai Metals Market, the alumina spot price further extends its decline today to stand at RMB 2,731 per tonne. Compared with the downfall by RMB 14 per tonne yesterday, today the alumina spot price has shown a slower decline by RMB 7 per tonne. Since the beginning of the month, the alumina spot price has been showing a sluggish trend ranging between RMB 2775 per tonne and RMB 2,731 per tonne until today. In the central market, the price has recorded a fall by RMB 10 per tonne, while the prices in the east north and south have shown no change. The average alumina price in the spot market is also expected to hover at RMB 2,731 per tonne. The Australian alumina FOB price still hovers at US$390 per tonne. However, unlike yesterday, the A00 aluminium ingot price has not...
According to Shanghai Metals Market, purchasing enthusiasm among downstream consumers improved across spot aluminium markets in east and south China on Thursday morning as prices dropped. Spot transactions were mostly found at RMB 13,610 per tonne to RMB 13,620 per tonne in Shanghai and Wuxi while in Hangzhou, the spot deals were mostly at RMB 13,610 per tonne to RMB 13,630 per tonne. This represents that the traded price fell by over RMB 70 per tonne this morning compared with yesterday. The front-month March aluminium contract on the Shanghai Futures Exchange also glided from the previous day. Spot aluminium discounts in Shanghai stood at RMB 50 per tonne to RMB 30 per tonne against the SHFE 1903 contract, wider than RMB 30 per tonne to RMB 10 per tonne as on yesterday morning....
RUSAL, a leading global aluminium producer, announced its results for the year ended 31 December 2018. Total revenue increased by 3.1% to USD10,280 million in 2018, as compared to USD9,969 million in 2017. The company achieved net profit of USD1.698 billion, up 39% from USD1.222 billion in 2017. The recurring net profit stood at USD1.695 billion, as compared to USD1.573 billion in 2017. Evgenii Nikitin, CEO of RUSAL, said: “Despite the OFAC Sanctions, RUSAL’s robust full year results demonstrated skillful crisis management alongside the ability to adapt to a new operations’ environment. It maintained its strong market position through its high managerial competence and operational flexibility. In 12M18, aluminium production totaled 3,753 thousand tonnes which is a 1.2% increase compared...
According to a recent report, Italian yard Perini Navi launched its first 42-metre hybrid sailing yacht from E-volution series last weekend. Here ‘E’ stands for electric. The yacht’s concept was first presented at the Monaco Yacht Show 2017 and then was sold to an Italian owner in July 2018. The expected delivery year of the yacht is 2020. The yacht features aluminium hull and lifting keel, along with a hybrid propulsion engine system that combines a diesel engine with eco-friendly electric motor contributing to the yard’s course on environmental sustainability. Thanks to its diesel-electric system because of which cruisers can experience silent cruising with a range of 3,200 nautical miles at 10 knots speed. The yacht’s naval architecture is designed by US-based Reichel-Pugh studio while...
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood 1.749 million tonnes as of Thursday March 7, up some 5,000 tonnes from Thursday February 28, Shanghai Metals Market data showed. Inventories declined about 6,000 tonnes from Monday March 4. Growth of stocks of primary aluminium ingots slowed further this week as consumption recovered. The chart below indicates the current status of the primary aluminium inventories across China: Compared with last Thursday, Inventories in Shanghai, Nanhai, Guangdong increased 3,000 tonnes and 22,000 tonnes to stand at 313,000 tonnes and 374,000 tonnes respectively. Stocks in Wuxi, Jiangsu and Gongyi, Henan stood at 639,000 tonnes and 156,000 tonnes as of Monday March 7, down 5,000 tonnes and...
In November, the US exports of aluminium semi-finished products (plates, sheets, bars, etc.) came in at 79,200 tonnes, down 2.22 per cent from 81,000 in November 2017.On a month on month comparison, the volume decreased 8.55 per cent or 7,400 tonnes from the October export volume of 86,600 tonnes, according to the latest Mineral Industry Survey report from US Geological Survey. {newsStudioGallery} In the first eleven months of 2018, aluminium semi-finished products export stood at 962,000 tonnes, as compared to 957,000 tonnes in the first eleven months of 2017. This marks an increase of 5000 tonnes or 0.52 per cent. Exports to Canada stood at 28,500 tonnes in November 2018, down 14 per cent year-on-year and 10.94 per cent month-on-month. During January-November, the volume stood at...
Deity has launched a comprehensive series of 35mm oversized Carbon and Aluminum Handlebars to compliment its already established 31.8mm models. Featuring a range of flex and deflection matching the 31.8mm counterparts, creating the new line of 35mm models was not an easy task for the brand, with today’s product reveal years in the making. Notoriously known for being overly stiff and unforgiving, the 35mm “standard” has taken over the handlebar industry in past years and some may wonder why the brand was so late to the party in offering a deep range of 35mm options. To Deity, it is all about the feel of a handlebar; having stiffness in the correct points to aid in front wheel tracking, but allowing the bar to have enough flex and range of deflection to keep you on the bike for the entire...
According to Shanghai Metals Market, 6063 aluminium billet stocks across five major consumption areas in China increased this week with varying consumptions in markets. Over the week ended on March 7, inventories gained 4,300 tonnes of aluminium billet to stand at 151,000 tonnes. Last week, on February 28, the billet stocks were at 146,700 tonnes. While billet stocks in Foshan, Guangdong were at 82,500 tonnes last week, they increased 6,100 tonnes week-on-week to 88,600 tonnes. In Huzhou, Zhejiang, the inventories grew from 6,000 tonnes to 10,000 tonnes, as of today. But in Wuxi, Jiangsu and in Nanchang, Jiangxi, the stocks plunged from 27,400 tonnes to 25,000 tonnes and from 10,800 tonnes to 5,400 tonnes, respectively. In the background of this marginal rise in billet inventory, the...
The US dollar held steady, while the Canadian dollar dipped to a two-month low. Base metals declined for the most part last night. LME aluminium dipped 0.4% and SHFE aluminium fell 0.4%. LME aluminium closed lower from previous day at US$ 1846 per tonne during the day’s closing yesterday. As longs exited and the US dollar remained robust, LME aluminium dropped to a low of US$1,860 per tonne. It settled at US$1,862.5 per tonne, with open interests down 3,711 lots to 660,000 lots. LME aluminium is likely to trade at US$1,840-1,890 per tonne today. As on March 6, LME aluminium cash (bid) price stood at US$ 1845.5 per tonne, LME official settlement price stands at US$ 1846 per tonne; 3-months bid price stands at US$ 1868 per tonne, 3-months offer price is US$ 1868.5 per tonne; Dec 20 bid...
After remaining restraint last day at RMB 2,749 per tonne, the alumina spot price again plunged today, on March 7, by RMB 14 per tonne to stand at RMB 2,735 per tonne, found Shanghai Metals Market. This is the third fall of alumina spot price this month, hinting a continued downward trend. The average price of alumina is also expected to hover at RMB 2,735 per tonne today. As the decline has touched upon all the major Chinese markets, the price in the east has dropped RMB 20 per tonne to RMB 2,740 per tonne. In the central and north, the price stood at RMB 2,750 per tonne and RMB 2,720 per tonne after declining by RMB 10 per tonne and RMB 20 per tonne, respectively. The markets in south China witnessed no exceptional trend either but saw a plunge in alumina spot price by RMB 5 per tonne...
Lindian Resources Ltd announced that it had lodged applications for two additional tenements with a total area of 96.85 square kilometres. The new applications follow the identification of new areas of high-grade bauxite mineralisation across both the PL/13400/2018 and PL/13564/2019 tenements during recent fieldwork programs. PL/13400/2018 comprises two deposits, the Magamba South Deposit and Kidundai deposits, and is located within the broader Lushoto Project area. PL/13564/2019 contains the Pare deposit, where the rock chip sampling confirmed high-grade mineralization. Source:Lindian Resources Lindian chairman Asimwe Kabunga commented: “We are continuing to actively build our portfolio of high-grade bauxite tenements in Tanzania and the granting of these additional licences will...
ŠKODA, at the Geneva Motor Show, reportedly unveiled its latest electric bike called the KLEMENT. Made from an aluminium frame, the KLEMENT boasts a sleek and stylish look. It has no visible levers or cables, nor the rider’s feet rest on fixed pedals where e-bikes usually have a bottom bracket. It has bi-cycle-like wheels on one hand and car-like accelerator and brake pedals on the other. But both the components are not found on the handlebar. The pedals do not work in a conventional way either. They have to be tilted forward to accelerate and backward for braking. The KLEMENT, featuring a 4-kW rear hub motor, has a top speed of 45 Km/h. It also has two lithium-ion batteries, with 52 cells each, that have a total capacity of 1,250 Wh – providing a range of up to 62 km. With a target...
According to a recent report, four designers from London’s Royal College of Art have made a series of terracotta-hued cups, bowls, and teapots with toxic red mud residue from aluminium production. This project, called ‘From Wasteland to Living Room’, displays an exalted transformation of red mud into different functional ceramic tableware pieces. Red mud is a by-product of refining bauxite ore into alumina to make aluminium. The material mainly consists of iron oxide, which grants it a vibrant, rusty colour. The four designers named Guillermo Whittembury, Joris Olde-Rikkert, Kevin Rouff, and Luis Paco Bockelmann dove into this project mainly because they want to realign the perception of common people towards waste. "Having a cup of tea from industrial waste may seem odd to some," said...
China exported 90,200 tonnes of aluminium alloy wheels in January 2019, an increase of 10.95 per cent from a year earlier, according to the latest customs data. Exports of aluminium alloy wheels in January increased 11.63 per cent from 80,800 tonnes in December 2018.This compared to a year-on-year increase of 2.5% in December. The value of exports increased 5.12 per cent year on year to US$411 million. Aluminium alloy wheels exports started to climb in August 2018 as the US announced a 10% tariff on Chinese aluminium alloy wheels from September, as reported by Shanghai Metals Market. The US, the major importer of China’s aluminium alloy wheels, accounted for around half of the country’s exports. China’s exports of aluminium alloy wheels came in at 994,100 tonnes in 2018.The value of...
Fusion Windows and Doors has announced the appointment of Stuart Judge as a new Managing Director. He has more than 25 years’ experience in the construction products market. A Birmingham-based manufacturer of aluminium windows and doors Fusion was recently acquired in a deal by Key Land Capital’s investments division which could see turnover increase by more than 100 per cent in the next two years. Stuart Judge said: "Key Land has aspirations to take the business and use it as a catalyst to create something bigger and brighter. That is a wonderful opportunity and something I am excited to be involved in.” "The company is in a strong position to take advantage of a buoyant commercial and residential property market with its wide range of aluminium door and window products. We’re going to...
According to Shanghai Metals Market, high prices of spot aluminium in the eastern and southern Chinese markets prompted reluctant aluminium purchases among downstream consumers this morning. Spot deals were mostly seen at RMB 13,680 per tonne to RMB 13,700 per tonne in Shanghai, barely changed from the previous morning. The front-month SHFE aluminium contract also traded range-bound in morning trade today. Transactions in Wuxi and Hangzhou were also heard at RMB 13,680 per tonne to RMB 13,700 per tonne. Against the SHFE 1903 contract, spot discounts in Shanghai came in at RMB 30 per tonne to RMB 10 per tonne, narrower than RMB 40 per tonne to RMB 20 per tonne on Tuesday morning. The Aluminium Corporation of China (Chalco) bought over 5,000 tonnes of spot aluminium in the eastern markets...
India Day was celebrated at the Prospectors and Developers Association of Canada (PDAC 2019) in Toronto—the world’s leading mineral exploration and mining convention, on 5th March 2019. On the occasion, Nalco CMD Tapan Kumar Chand invited global investors, technology suppliers and equipment manufacturers to its Angul Aluminium Park (AAI) and highlighted the world class facilities offered by AAI. Tapan Kumar Chand also delivered a presentation on Indian Aluminium Industry at the convention. He spoke on overseas acquisition, exploration and processing of strategic minerals through Khanij Bidesh India Ltd, a joint venture company of Nalco, Hindustan Copper Ltd and Mineral Exploration Corporation Limited. Hinting that the company’s Lithium Ion battery plant may come up in Odisha, he said...
According to the data from China Customs released over the weekend, the country’s exports of aluminium sheet, plates and strips came in at 246,000 tonnes in January, down 1.8 per cent from 250,000 in December, but up 20 per cent from 205,000 tonnes year-on-year. This decline in China’s export volume in the said month is attributable to narrowed arbitrage window on yuan appreciation and higher SHFE/LME aluminium price ratio. {newsStudioGallery} However, even though the export grew in January year-on-year, it was 0.9 percentage point slower compared with the earlier month (December 2018). The yuan rebounded about 6.7 versus the US dollar for much of January. For the same month, the ratio of the most active aluminium contract on the Shanghai Futures Exchange to the three-month aluminium on...
