Storvik has won a contract to operate and maintain the automated anode rod repair system at Alcoa's Mosjøen aluminium smelter in Norway. The agreement extends a partnership that began in 2016, when the company introduced its In-Line Rod Repair (ILRR) system at the plant. Storvik Mosjøen, a subsidiary of Storvik group will now handle the operation of the robotic repair line and maintenance of the anode yokes processed through it. Storvik Engineering built the system, with both companies working together on its installation and commissioning. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook " Anode rod assemblies are essential to primary aluminium...
Rio Tinto has secured a five-year operating arrangement for its Bell Bay aluminium smelter in northern Tasmania, backed by a government support package worth USD 200 million. The agreement includes a commitment to maintain a minimum level of employment at the 71-year-old facility until at least 2031, easing concerns over its future amid uncertainty about electricity costs. Rio Tinto's aluminium chief executive Jérôme Pécresse confirmed the employment commitment but did not disclose the number of jobs covered. The guarantee is understood to cover around 500 positions. Bell Bay currently employs about 550 people and supports a further 1,200 jobs, with its future previously uncertain as the company sought a new power agreement. Explore the production, demand and consumption forecasts of...
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JW Aluminum, which makes flat-rolled aluminium products, ranked fourth in the Top Economic Investment Announcements of 2018. According to the South Carolina Department of Commerce Annual Industrial Recruitment Report, the company’s $255 million expansion project secured the no.4 spot on the investment list. In Berkeley County, South Carolina, JW Aluminum is second only to Google in terms of capital investments last year. Stan Brant, Chief Operating Officer at JW Aluminum said: “The ranking is based on our previously announced investment of $255 million. Additional planned investments will bring the total investment in Goose Creek to over $300 million and make our South Carolina facility one of the most technologically advanced continuous cast plants in the world.” Recently named the...
The Netherlands' estimated imports of aluminium household articles dropped 11.35 per cent year on year in 2018. China, Germany and Belgium continued to be the leading exporters, supplying 9667 tonnes, 2071 tonnes and 1300 tonnes respectively. {newsStudioGallery} Exported aluminium household articles from the Netherlands were at 6879 tonnes in 2018, registering a 20.22 per cent year on year growth. Our own third party data shows the Netherlands’ estimated aluminium household articles import was at 16422 tonnes in 2018, a decrease of 2103 tonnes, from 18525 tonnes in 2017. The value of aluminium household articles import was at USD 78 million and USD 85 million in 2018 and 2017 respectively. The country’s import of these products is estimated to be about 17491 tonnes by the end of this...
According to Shanghai Metals Market, large purchases among downstream consumers today, on February 13, have bolstered further improvements in spot aluminium transactions across east and south China markets. This could be possible as many downstream consumers have resumed work from the Chinese New Year holiday, SMM found. The front-month aluminium contract on the Shanghai Futures Exchange came off from earlier highs this morning. Spot discounts in Shanghai were seen at RMB 30 per tonne to RMB 10 per tonne against the SHFE 1902 contract, down from a day ago. In Shanghai, Wuxi and Hangzhou, spot transactions were heard at RMB 13,290 per tonne to RMB 13,310 per tonne, RMB 20 per tonne higher than the previous morning. A buyer procured close to 9,000 tonnes of spot aluminium in the eastern...
After remaining restrained since the end of January, the alumina spot price today, on February 13, has recorded a plunge by RMB 15 per tonne to RMB 2,793 per tonne, found Shanghai Metals Market. From January 29 to February 12, the price of alumina stood at RMB 2,808 per tonnes with no intermittent rise or fall. In the east and central, the spot alumina price has dropped by RMB 20 per tonne to stand at RMB 2,830 per tonne and RMB 2,810 per tonne respectively. In the south and north, on the other hand, the price has dipped by RMB 10 per tonne and by RMB 15 per tonne to hover at RMB 2,770 per tonne and RMB 2,795 per tonne. The Australian alumina FOB price has also registered a plunge today by US$5 per tonne to US$375 per tonne. Unlike Chinese alumina price, the global price had recorded a...
The US dollar fell on Tuesday after eight days of gains, the longest in two years, as investors turned to riskier assets on optimism over the outcome of US-China trade talks. LME base metals traded lower on Tuesday. LME aluminium dropped 1.2% last night. LME aluminium fell further and closed at US$ 1840.50 per tonne yesterday from US$1848 per tonne on Monday. Despite the dip on Tuesday, the US dollar is still at highs and this would continue to weigh on aluminium prices. LME aluminium is expected to trade at US$1,800-1,870 per tonne today. As on February 12, LME aluminium cash (bid) price stood at US$ 1840 per tonne, LME official settlement price stands at US$ 1840.50 per tonne; 3-months bid price stands at US$ 1865 per tonne, 3-months offer price is US$ 1866 per tonne; Dec 19 bid price...
According to a report by Business Standard, Hindalco Industries is eyeing lithium in the minor mineral space for strengthening its aluminium business. Managing Director Satish Pai said: “Lithium is the closest to our (aluminium) business, and in India, there could be some opportunities in this minor mineral. We are watching. If we get an opportunity we will get into this minor mineral.” Per the report, India’s one of the largest aluminium producer and part of the $44.3-billion Aditya Birla Group is targeting the minor mineral via its mining arm Essel Mining and Industries (EMIL). At present, Essel Mining is into coal and iron ore mining contract, operating in 35 countries. “It is Essel Mining, the group’s mining arm, which is looking into this,” Pai said, without divulging any detail...
The United Arab Emirates Minister of Economy Sultan bin Saeed Al Mansouri reportedly said on Monday, February 11, that the UAE should not take sides between the US and China. He also alerted that the trade war between the world’s top two economies may harm all of us. On Monday, a team of US negotiators reached China to restart trade talks in order to thrash a deal before March 1. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will join for the main event on Thursday and Friday. The US President, on the other hand, has postponed the plan to increase 10 per cent tariff to 25 per cent on Chinese imports worth US$200 billion for allowing negotiators some time to thrash out a deal. However, the US and China have already slapped each other with tariffs on...
Hindalco Industries Limited, the metals flagship company of the Aditya Birla Group, posted 8 per cent increase in revenue in in Q3 FY19. Revenue stood at INR11,938 crore, from INR11,044 crore in Q3 FY18. EBITDA rose 4 per cent YoY to INR1,926 crore in Q3 FY19, on the back of supporting macros, improvement in operational efficiencies and better realisations. This was despite increase in input costs, mainly of coal and furnace oil. Profit After Tax stood at INR713 crore in Q3 FY19, up 47 per cent, from INR484 crore in Q3 FY18, driven by higher EBITDA and lower finance costs. Revenue from its aluminium business for Q3 FY19 stood at INR6,018 crore, up 13 per cent, from INR5,345 crore in Q3 FY18. EBITDA at INR1,286 crore in Q3 FY19, rose 8 per cent, compared to INR1,188 crore in Q3 FY18, on...
On Tuesday February 12, spot aluminium transactions across eastern and southern markets in China picked up from the previous day, according to Shanghai Metals Market. The slightly better spot transactions could be attributed to improved deals between traders. Overall spot aluminium trades remained poor as downstream purchases stayed at lows. The front-month aluminium contract on the Shanghai Futures Exchange traded range bound in the morning. Spot discounts in Shanghai were heard at RMB 50 per tonne against the SHFE 1902 contract earlier in the morning, before it fell to RMB40-30 per tonne. Spot transactions in Shanghai, Wuxi and Hangzhou were at RMB 13,270 per tonne to RMB 13,290 per tonne, up from the previous morning. In Guangdong, spot transactions occurred at RMB 13,320 per tonne,...
According to Shanghai Metals Market, operating rates across Chinese processors of aluminium plate, sheet, and strip are estimated to decline to 65 per cent in January, down three percentage points from the revised reading in December. On a yearly basis, operating rates in January are expected to decline two percentage points, SMM learned. The reason behind this estimated fall in downstream aluminium operating rates in January could be the week-long Chinese New Year break as it affected some operations. While some processors started their CNY holiday as early as on January 20, reducing the average operating rate in the industry. On the other hand, though some large-sized firms with annual capacity above 150,000 tonnes maintained stable operation during the holiday, their year-end...
German aluminium producers and processors produce about 560,000 tonnes of aluminium, out of which 260,000 tonnes is comprised of primary aluminium and 300,000 tonnes recycled aluminium. This indicates that Germany produces recycled aluminium more than primary, thanks to its world’s largest auto-making sector. Besides using this large amount of scrap for producing secondary aluminium domestically, the country is also known for exporting a substantial amount every year. According to the available data, Germany this year is estimated to export around 1.06 million tonnes of aluminium scrap, down 11 per cent from 1.19 million tonnes in 2018. In 2017, the country’s scrap export volume was at 1.08 million tonnes, down 9 per cent from 2018, but up 2 per cent from 2019. This shows that after a...
Boeing inked a Memorandum of Understanding (MoU) with the National Industrial Development and Logistics Program (NIDLP), Saudi Arabian Industrial Investments Company (DUSSUR), and Saudi Arabian Mining Company (Ma’aden). The partnership will support the development of the aerospace industry of Saudi Arabia. "Boeing congratulates NIDLP, Ma’aden and Dussur for this exciting new partnership that will support the Kingdom’s goal to become a leader in aerospace grade aluminium manufacturing. We are keen to support the development of the Kingdom’s domestic aerospace-related industries which Vision 2030 has accelerated,” said President of Boeing Saudi Arabia Ahmed Jazzar. Ma’aden, the largest multi-commodity mining and metals company, will be positioned to enter the high grade aluminium market...
The US dollar index rose above 97 on Monday as an economic slowdown in Europe, weak emerging markets and the strong US job market drove investors to the safe-haven currency. LME base metals traded lower on Monday. LME aluminium closed flat. LME aluminium contract closed at US$1848 per tonne on Monday, down 0.91 per cent from US$1865 per tonne on Friday, February 8. LME aluminium is expected to trade at US$1870-1900 per tonne today. As on February 11, LME aluminium cash (bid) price stood at US$ 1847 per tonne, LME official settlement price stands at US$ 1848 per tonne; 3-months bid price stands at US$ 1869 per tonne, 3-months offer price is US$ 1869.50per tonne; Dec 19 bid price stands at US$ 2003 per tonne, and Dec 19 offer price stands at US$ 2008 per tonne. The LME aluminium opening...
After a plunge yesterday from RMB 13,300 per tonne to RMB 13,270 per tonne, the A00 aluminium ingot price decides to remain unchanged today, on February 12, Shanghai Metals Market learned. The average prices are expected to range between RMB 13,250 per tonne and RMB 13,290 per tonne, with spot discounts to settle at RMB 80 per tonne and RMB 40 per tonne. The average spot discount has increased by RMB 40 per tonne to stand at RMB 60 per tonne. But in some of the major markets, the A00 aluminium ingot price has recorded a rise such as in Wuxi in the east Chinese market where the price is up by RMB 10 per tonne to RMB 13,280 per tonne. However, the price in Hangzhou in the east has shown restraint, while in the south and north, the prices have increased by RMB 20 per tonne and RMB 45 per...
Arconic announced that it will separate into Engineered Products & Forgings and Global Rolled Products, with a spin-off of one of the businesses. The US aluminium products manufacturer will also consider the sale of businesses that do not fit into either of the divisions. Arconic Chairman and Chief Executive Officer John Plant said, “After a rigorous and comprehensive process, we did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders. The Board sees more shareholder value creation through a restructuring of the Company.” “As part of the strategy and portfolio review, we have determined to separate the portfolio into Engineered Products & Forgings and Global Rolled Products. In addition, we will also explore the potential...
TSX-V-listed Altus Strategies has reportedly reached a Joint Venture Termination agreement and a Sale & Purchase agreement with ASX-listed Canyon Resources, which dictate the dissolution of their existing partnership dated back to December 23, 2013. Per the agreements, Altus will transfer all of its share capital in subsidiary Aucam Resources Ltd. to Canyon. Aucam is the holder of Altus' Birsok and Mandoum licences in central Cameroon. The licences cover the Minim Martap bauxite deposit. In return, Altus will receive 30 million Canyon shares, valued at about GBP3.4 million. Altus will also receive a royalty of USD1.50 per tonne on bauxite ore mined and sold from Minim Martap project. Earlier, Canyon Resources had announced a JORC compliant resource estimate for the Minim Martap project of...
Bombardier awarded Aleris with Diamond Supplier Certification during the Bombardier Supplier Symposium on February 7th in Montreal, Canada. Aleris was recognized for its outstanding performance as a supplier of aluminium aerospace products from Aleris manufacturing facilities in Koblenz, Germany and Zhenjiang, China. Dr. Ingo Kröpfl, Vice President Global Aerospace at Aleris said: "This award is a recognition for the daily efforts of our whole team. We are constantly working to improve our products and service. It is this sense of customer focus and excellence that enables us to meet Bombardier's targets." The Bombardier Diamond Supplier program recognizes the outstanding performance of its suppliers across the organization. It aims to develop a long-term relationship with its suppliers,...
According to Shanghai Metals Market, spot aluminium transactions across eastern and southern China remained poor this morning, the first trading day after the Chinese New Year break. The poor trading occurred primarily because many downstream consumers were not back from the holidays yet. The front-month aluminium contract on the Shanghai Futures Exchange traded lower in the morning. Spot discounts in Shanghai, against the SHFE 1902 contract, were heard at RMB 60 per tonne to RMB 50 per tonne, in contrast to RMB 30 per tonne to RMB 20 per tonne on the last day February 1, before the SMM went on for the New Year break. Spot transactions in Shanghai and Wuxi were at RMB 13,260 per tonne to RMB 13,280 per tonne while that in Hangzhou at RMB 13,270 per tonne to RMB 13,290 per tonne. Traded...
