Canyon Resources, the Australian mining company developing Cameroon’s Minim Martap bauxite project , has recommended the re-election of Director Gaurav Gupta, who also serves on the board of its largest shareholder, A2MP Investments FZCO. The recommendation comes as the company prepares for its annual general meeting on November 30, 2026, where shareholders will also consider a separate board nomination that has not received directors’ support. The developments follow recent proceedings before Australia’s Takeovers Panel concerning A2MP’s unsuccessful attempt to acquire the remaining Canyon shares and a proposed AUD 170 million (USD 115.7 million) financing package. In an October 28 decision, the Takeovers Panel examined the relationship between Canyon and A2MP following the latter’s...
Kazakhstan is preparing to impose long-term export restrictions on specified aluminium foil products and industrial graphite electrodes supplied to other members of the Eurasian Economic Union (EAEU). The measures, outlined in an order signed by the Minister of Industry and Construction on November 5, 2026, will remain in force for several years, with certain exemptions for aluminium foil shipments. The restrictions cover two categories of industrial products of aluminium foil and graphite electrodes. The first includes aluminium foil supplied in rolls that meet specified dimensional and technical requirements. Exports of these products to other EAEU member states will be restricted until November 15, 2030. The second category covers round graphite electrodes used in industrial furnaces....
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Social inventories of primary aluminium across major consumption areas in China, including SHFE warrants, dropped some 13,000 tonnes week-on-week to stand at 1.525 million tonnes today, November 1, Shanghai Metals Market found. This decline in social inventories could be attributed to molten aluminium consumption replaced by aluminium ingots in the downstream industry. Today, the inventories in Wuxi and Jiangsu reportedly dropped 10,000 tonnes from a week ago and stood at 659,000 tonnes. In Shanghai and Nanhai, Guangdong, the inventories dropped as well, by 2,000 tonnes and 3,000 tonnes W-o-W to settle at 346,000 tonnes and 227,000 respectively, as of today. However, inventories in Gongyi, Henan and Hangzhou, Zhejiang showed an exception by rising from 91,000 tonnes to 95,000 tonnes and...
Vedanta Resources plc's subsidiary Vedanta Limited announced results on Wednesday, October 31, for the second quarter ended 30 September 2018. Metals and mining major reported net profit of INR 1,343 crore in the July-September quarter of 2018, up 34.3 per cent from INR 2045 crore in the July-September quarter of 2017. Revenue stood at INR 22,705 crore, an increase of 5 per cent, as compared with INR21, 590 crore in the same period previous year. The increase in revenue was attributable to higher volumes at aluminium, higher availability at TSPL, acquisition of Electrosteel, currency depreciation and higher commodity prices partially offset by, lower volumes at Zinc India, Zinc International and closure of Tuticorin smelter. EBITDA in Q2 FY2019 was at INR 5,342 compared to INR 5,776 crore...
Industry leaders joined Aluminum Association president & CEO Heidi Brock in testifying before the U.S. International Trade Commission (USITC) on Tuesday, October 30. The testimony urged the USITC to reach a finding in the Commerce Department’s self-initiated case that unfairly-traded imports of common alloy aluminium sheet from China are injuring domestic producers, a press release from Aluminum Association confirms. Senior officials from association member companies: Aleris, Arconic, Constellium, Jupiter, JW Aluminum and Novelis shared details on how Chinese common alloy aluminium sheet imports have injured U.S. producers and threatened a key market in the U.S. economy. Heidi Brock said: “The relief we seek will help ensure that the U.S. common alloy sheet market industry can compete...
According to the latest update by Shanghai Metals Market, downstream aluminium consumers showed the least enthusiasm in making purchases followed by the tumbled SHFE aluminium contract for November delivery in the second session of morning trading, on Wednesday, October 31. The SHFE 1811 contract traded range-bound in the first trading session with most spot transactions across eastern markets at RMB 13,980 per tonne to RMB 13,990 per tonne. Following the decline in futures prices in the second session, spot transactions fell to a range of RMB 13930 per tonne to RMB 13,980 per tonne with some offers at RMB 13,910 per tonne. These erratic prices, as a result, distracted downstream consumers and reduced overall transactions across eastern markets. In Shanghai, most transactions were found...
AMAG Austria Metall AG, the leading Austrian premium supplier of high-quality aluminium cast and flat rolled products, posted an update on their performance during the first three quarters. The company continued to ramp up new plants and facilities in its Rolling Division. This volume growth in the Rolling Division largely offset drop in shipments in the Metal and Casting divisions. The AMAG Group's total shipments dropped 1% to 315,700 tonnes in the first three quarters of 2018 compared with the same period of 2017. Commenting on the results, Helmut Wieser, CEO of AMAG said, "We have achieved further success in the challenging ramp-up of our new production plant. While we registered only slight growth in shipment volumes in the Rolling Division in the first half of 2018, the ramp-up has...
The much-awaited winner list of the World Aluminium Aerosol Can Award 2018 is announced. Nivea Body Mousse from Beiersdorf reportedly received a maximum number of votes for its unusual conical shaped can and thus, bagged an award under “cans that are already on the market” category. Another category was “prototype cans” under which Eyeris Fox Can from Ball UK acquired the first position. The winners were announced at this year’s General Assembly meeting of the International Organisation of Aluminium Aerosol Container Manufacturers (AEROBAL), who was also the organiser of the competition. The unusual conical shape of Nivea Body Mousse aerosol cans reportedly impressed the judges in the competition this year in every respect. The can’s very subtle and transition-free colour gradient from...
CanPack, the only aluminium beverage can producer in Romania, has inaugurated a new production line at its Bucharest plant, with an investment of over EUR 50 million. The new line will allow the company to increase its production capacity from 950 million to 1.55 billion cans per annum. The company expects the production of its plant to roll out from February next year. Herman Nicolaas Nusmeier, CEO and chairman of the Board of Directors of Canpack said: “I am very excited to open a new production line at our aluminium factory in Bucharest, which demonstrates our company’s determination to increase its competitiveness on this market and its focus on the long-term sustainable development of our business. We strongly believe in the potential of the Romanian market, which is reflected in the...
According to the latest Mineral Industry Survey report from US Geological Survey, the U.S. exports of aluminium scrap, which is not included in the government’s consumption statistics, stood at 148,000 tonnes in August 2018, up 11.2 per cent from August 2017 total of 133,000 tonnes. Month on month, aluminium scrap export dropped about 3% from the July export volume of 137,000 tonnes. Total scrap exports stood at 1.1 million tonnes in the first eight months of 2018, up 11.1 per cent from 9,90,000 tonnes in the same period of 2017. The US export to China in August 2018 stood at 26,900 tonnes, down 61% from August 2017 volume of 69,300 tonnes. While month on month the volume has not registered much change, YoY, the volume drops significantly, mostly driven by China’s counter tariff of 20%...
Arconic reported third quarter 2018 results with revenues of $3.5 billion, up 9% year over year. Organic revenue was up 7% YoY, driven by higher volumes across all segments in the aerospace engines, defence, automotive end markets, commercial transportation, industrial, and building and construction markets. The company reported net income of $161 million in Q3 2018, net income of $119 million in Q3 2017. Net income excluding special items was $160 million in Q3. Arconic reported operating income of $345 million, up 11% YoY and operating income excluding special items of $348 million, up 4% YoY. Arconic Chief Executive Officer Chip Blankenship said, “In the third quarter, Arconic delivered solid organic revenue growth while increasing adjusted free cash flow. Our team remains focused on...
On Monday, October 29, China’s Ministry of Ecology and Environment (MEE) announced that it would begin the second round of environmental reviews soon. Five inspection teams would settle in Shanxi, Liaoning, Jilin, Anhui, Shandong, Hubei, Hunan, Sichuan, Guizhou and Shaanxi provinces to supervise local environmental conditions and review the implementation of rectification plans that were made during previous environmental checks. The start date and duration of the new round of probes, however, was not revealed then, until the MEE updated us further on Tuesday, October 30. The first round of environmental reviews lasted for about a month in June and covered Hebei, Henan, Inner Mongolia, Ningxia, Heilongjiang, Jiangsu, Jiangxi, Guangdong, Guangxi and Yunnan provinces. According to the...
WZ Satu Bhd has reported results for the fourth quarter ended Aug 31 and blamed overrunning costs at two big projects and a huge damage incurred in the group’s mining business due to mining ban in Malaysia for the losses made in this quarter. WZ Satu Bhd which started as WZ Steel Berhad and assumed the present name on 30 October 2013, slowly transformed itself into a diversified group with multiple revenue streams. The Group is now diversified into Oil and Gas Industry, Civil Engineering and Construction and Mining. The company has ventured into bauxite mining in Pahang via its associated companies i.e. SE Satu Sdn Bhd and SE Satu Pelangi Sdn Bhd. For the fourth quarter ended Aug 31, WZ Satu posted a net loss of RM77.6mil and revenue of RM116.8mil. The report submitted at Bursa Malaysia...
The US dollar index rose to the highest thus far this year on Tuesday, amid growing signs the US economy is outperforming its peers. US consumer confidence rose to an 18-year high in October, driven largely a robust labour market, suggesting strong economic growth could persist in the near term. Most LME and SHFE base metals ended in negative territory overnight. LME aluminium slid some 0.7%. LME aluminium fluctuated and closed Tuesday's trading at US$ 1952 per tonne, the lowest since August 8, 2017. It recovered some losses and closed the night trading at US$1,965 per tonne. Shanghai Metal Market expects it to trade at US$1,960-1,990 per tonne today. As on October 30, Tuesday, LME aluminium cash (bid) price stood at US$ 1951per tonne, LME official settlement price stands at US$ 1952 per...
As reported by Shanghai Metals Market, A00 Aluminium Ingot prices in China have registered a decline for two days consecutively after a rise. The average price of A00 Aluminium ingot stands at RMB13990 per tonne on Wednesday, October 31, down from RMB 14030 per tonne yesterday. The average prices today are expected to range between RMB 13970 per tonne and RMB 14010 per tonne, with spot discounts to settle at RMB 70 to RMB 30 per tonne. In the east and south, the A00 aluminium ingot prices have also dropped by RMB 65 per tonne and RMB 40 per tonne to settle at RMB 13960 per tonne and RMB 14045 per tonne; while in the north, the price has slipped by RMB 50 per tonne to stand at RMB 14010 per tonne. In east market, the average prices are expected to range between RMB 13930per tonne and RMB...
Apple never fails to surprise its consumers and woo them with uniquely featured products. Following the legacy, it has recently unveiled a new line of MacBook Air laptops made out of 100 per cent recycled aluminium. Therefore, the weight of the device is reduced to 1.25 kilos from 1.35 kilos. 10 per cent thinner than the previous generation MacBook Air, available in gold, silver or space grey, powered by Intel’s eighth-generation Core processors, this new addition of Apple has ample features to lure consumers. Buyers will even have the option to choose the device with either 8GB memory or 16GB memory, with storage options go all the way to 1.5TB – for a price. For the first time, the new MacBook Airs will offer Touch ID built-in to the keyboard and a 1.6GHz dual-core Intel Core i5 CPU of...
The US dollar recovered but remained under 97 as concerns before the G20 meeting prompted investors to buy back the currency. At the G20 summit in Buenos Aires on Friday and Saturday, the US President Donald Trump and China President Xi Jinping are scheduled to discuss trade issues after months of tension between the world's two biggest economies. After falling to a new low, LME aluminium recovered some losses and closed Thursday’s trading at US$ 1933 per tonne. However, the contract failed to stand firm above the 10-day moving average at night with resistance at the 20-day moving average. The contract is likely to trade at US$1,920-1,940 per tonne today. As on November 29, Thursday, LME aluminium cash (bid) price stood at US$ 1931per tonne, LME official settlement price stands at US$...
The US dollar recovered but remained under 97 as concerns before the G20 meeting prompted investors to buy back the currency. At the G20 summit in Buenos Aires on Friday and Saturday, the US President Donald Trump and China President Xi Jinping are scheduled to discuss trade issues after months of tension between the world's two biggest economies. After falling to a new low, LME aluminium recovered some losses and closed Thursday’s trading at US$ 1933 per tonne. However, the contract failed to stand firm above the 10-day moving average at night with resistance at the 20-day moving average. The contract is likely to trade at US$1,920-1,940 per tonne today. As on November 29, Thursday, LME aluminium cash (bid) price stood at US$ 1931per tonne, LME official settlement price stands at US$...
Following a three-year Blue Skies initiative released by the provincial government on September 30, Jiangsu province in China is reportedly targeting to put 150,000 new-energy vehicles (NEVs) into use during 2018-2020. The government has vowed to cover 80 per cent of the areas including environmental sanitation, postal delivery, ground transportation, and logistics by the end of 2020 in Jiangsu for the utilisation of NEVs. By the end of 2019, electric buses and other types of clean energy buses will also be introduced across Xuzhou and all Jiangsu cities along the Yangtze River, according to the initiative. In order to execute this initiative as successful as possible, Jiangsu, as per the report, has decided to continue maintaining support for NEVs tax reduction policies for at least next...
According to Aluminum Association, demand for aluminium semi-fabricated (mill) products in the United States and Canada (domestic shipments plus imports) was up 1.6 per cent YoY to an estimated 790,000 tonnes in August. YTD semi-fabricated demand stood at 6.1 million tonnes, up 2.3 per cent from the same period of 2017. Shipments of aluminium extruded products increased 2.9 per cent to 240,000 tonnes in August. However, aluminium extrusion shipment in September registered a drop over August 2018. Shipments of Aluminum Extruded Products (extruded shapes, pipe & tube, and rod & bar) by U.S. and Canadian producers totalled 204,116 tonnes during September 2018, a rise of 1.3 per cent over the September 2017 total of 201,531 tonnes. Compared to the previous month, shipments decreased 7.9 per...
