Steel and aluminium markets moved in different directions during the third quarter of 2026, with carbon steel prices reaching multi-year highs while aluminium prices softened as expectations for future supply began to normalise. Recent financial results from metals companies, including Constellium SE and Ryerson Holding Corporation, reflect the changing pricing environment and its impact on business performance and market outlooks. Carbon steel prices continued to rally during the quarter, supported by trade policy, tight domestic supply, extended lead times and service centre inventories at multi-year lows, according to metals distributor Ryerson. Demand during the period was also stronger than anticipated. Aluminium prices, however, remained volatile and moved lower as expectations...
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...
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Leading aluminium value-added company Kaiser Aluminum Corporation announced third quarter and first nine months financial results. For the third quarter of 2018 , the company reported net income of $22 million, or $1.29 per diluted share, compared to net income and earnings per diluted share of $20 million and $1.16, respectively for the prior year period. Adjusted net income, excluding the impact of non-run-rate items, was $24 million or $1.43 per diluted share in Q3 2018, compared to adjusted net income of $16 million, or $0.90 per diluted share in Q3 2017. The improved year-over-year results primarily reflected the impact of a lower corporate tax rate in 2018, partially offset by temporary tariff costs on internal cross-border transactions. Kaiser reported net sales of $393 million,...
A sharp decline in US existing home sales in September weakened the US dollar before the weekend. Both LME and SHFE base metals ended in mixed performance on Friday night. LME aluminium lost 0.25%. As the US dollar strengthened, LME aluminium also traded weakly last Friday night as it registered the third consecutive trading day of decline to settle at US$2,006.50 per tonne with support from the US$2,000 per tonne level. We see it hovering at US$1,950-2,020 per tonne today. As on October 19, Friday, LME aluminium cash (bid) price stands at US$ 2022.50 per tonne, LME official settlement price stands at US$ 2022.50 per tonne; 3-months bid price stands at US$ 2023 per tonne, 3-months offer price is US$ 2024 per tonne; Dec 19 bid price stands at US$ 2070 per tonne, and Dec 19 offer price...
Social inventories of primary aluminium inventories across eight consumption areas in China, including SHFE warrants, declined by some 27,000 tonnes from Thursday October 18 to stand at 1.556 million tonnes as of Monday October 22, Shanghai Metals Market data showed. Limited cargoes arrived in social warehouses over the weekend and this accounted for the decline in stocks. In some of the Chinese cities like Wuxi and Gongyi, Shanghai and Nanhai, Guangdong the inventories declined on the week. In Wuxi and Jiangsu, the inventory stood at 667,000 tonnes; in Shanghai and Nanhai, Guangdong, the inventory came in at 348,000 tonnes and 240,000 tonnes respectively. In Gongyi, Henan, the inventory stood at 102,000 tonnes. The current inventory status in the major Chinese cities is as follows: After...
Operating rates across producers of aluminium plate/sheet strip and foil are likely to fall to 66% in October, a month of traditionally low demand for aluminium, as exports are likely to drop nearly 10% on the month. Rates across foil producers are estimated at 87%, and at 63% across producers of plate/sheet and strip. Consumption of primary aluminium is unlikely to pick up this year as poor orders and cash flow issues close some processors in east China and Shandong, and as construction projects suspend in the heating season. While November will conitnue to be a month of high demand for aluminium semis, the current markets across real estate, transportation and home appliances are likely to account for poor orders across producers of aluminum plate/sheet, strip and foil during...
Inventories of aluminium billet decreases across all the major consumption areas in China as downstream consumers restocked raw materials, Shanghai Metals Market found. Stocks of 6063 aluminium billet stood at 150,000 tonne on Thursday October 18, down by some 2,000 tonnes. The aluminium billet inventory in Foshan, Guandong stood at 81,300 tonnes; while that in Wuxi, Jiangsu at 21,800 tonnes. For more details, refer to the chart below. The aluminium alloys (ADC12) spot price remained unchanged on October 19, 2018. The average prices are expected to range between RMB 15400 per tonne and RMB 15600 per tonne. Aluminium alloys (A356) price continued their downward trend. On October 19, aluminium alloys (A356) price dropped by RMB 50 per tonne to RMB 14750 per tonne. The average prices are...
According to brewing industry executives, Canada has taken a move to drop a 10 per cent duty on US-made aluminium cans and is proved to be good news for Canadian beer markets that are battling a shortage of tall cans. The aluminium products exempt from tariffs last week include cans that brewers have been struggling to keep in stock, said Luke Harford, president of trade association Beer Canada. Reuters reported in July that some Canadian breweries were scrambling to find aluminium cans. "It's very positive for us," said Harford. "The 473 ml tall cans are all purchased from U.S. suppliers and that particular can is one of the fastest-growing cans... particularly amongst small brewers." Last week, Canada announced tariff exemptions on a range of products post the complaints lodged by...
Norway, the European Union and several other countries asked the World Trade Organization (WTO) on Thursday to set up a dispute resolution panel to address U.S. tariffs on steel and aluminium. The United States imposed a 25 percent duty on steel imports and a 10 percent tariff on aluminium imports, effective from March 23 in what U.S. President Donald Trump said was a move to protect U.S. metal makers. "We believe that additional U.S. duty on steel and aluminium is contrary to WTO rules," Norwegian Foreign Minister Ine Eriksen Soereide said in a statement. "Therefore, together with the EU and several others, we asked today the WTO to establish a dispute resolution panel on the U.S. additional duty," she said. Norway said initial consultations with the United States had not led to an...
Despite the massive government push towards electric mobility, e-car sales plunged 40 per cent to a low of 1,200 units in FY18 over FY17, while e-two-wheeler sales zoomed 138 per cent to 54,800 unit during the same period, says an industry report. As of March 2018, there were 56,000 electric vehicles on the roads in the country, of which e-cars were a paltry 1,200 units, while the rest 54,800 units are two-wheelers, according to the data from the Society of Manufacturers of Electric Vehicles, the apex industry lobby for the e-vehicles industry. In FY16, 20,000 electric two-wheelers were sold in the country, which increased to Rs 23,000 units in FY17, according to the data. In the same year, 2,000 e-cars were sold and remained stagnant in FY17. In FY16 there were only 22,000 electric...
Acording to a report from Platts, China's Shandong Chiping Xinfa Group has cut operating capacity at its Shanxi Jiaokou alumina refinery in northern China to 50% due to limited bauxite supply and power plant issues. This was confirmed by a company source on Thursday. The source also added that refinery is now running at 1.4 million tonne per year capacity, down from 2.8 million tonne per year, the source added. The sources however has not mentioned how long the cut will last and when the plant will resume normal output. The problems have not affected operations in Xinfa's other alumina refinery in Shanxi. Shanxi Xinfa Chemical refinery is currently operating at 1.8 million tonne per year operating rate. The company’s alumina refinery in Shandong province in eastern China that has an...
The US dollar index traded at a week-high on Thursday as US Treasury yields traded near multiyear highs, on expectations of further interest rate hikes. That came despite US President Donald Trump's view that interest rate hikes have already gone too far. LME base metals ended in negative territory across the board on Thursday. While LME aluminium opened higher on Thursday, it fell to close near day-lows of US$2,008 per tonne, a new low in a month. It is likely to remain weak today with a trading range of US$2,000-2,030 per tonne. As on October 18, LME aluminium cash (bid) price stands at US$ 2007 per tonne, LME official settlement price stands at US$ 2007.50 per tonne; 3-months bid price stands at US$ 2012 per tonne, 3-months offer price is US$ 2012.50 per tonne; Dec 19 bid price stands...
Press Metal Aluminium Holdings Bhd, the largest aluminium smelter in Southeast Asia, is buying a 50 per cent stake in Japan Alumina Associates (Australia) Pty Ltd (JAA) for A$250 million (RM739 million). JAA holds a 10 per cent stake in Worsley Alumina unincorporated joint venture which owns and operates the Worsley alumina project, one of the world’s largest, longest life and lowest cost alumina producers. Chief executive officer Tan Sri Paul Koon said the proposed acquisition will provide Press Metal the opportunity to access five per cent of the annual production of the Worsley alumina project which amounts to 230,000 tonnes of alumina per annum. The acquisition, which is expected to be completed by the first quarter of 2019, is an effective approach towards ensuring Press Metal’s...
Altech Chemicals Limited has received the Certificate of Grant for an Innovation Patent from the Australian Patent Office (IP Australia), for its process of producing high purity alumina (HPA) from kaolin (aluminous clay). Altech Chemicals managing director Iggy Tan said, “The journey to patent grant was quite arduous. We commenced the process in 2014 and have now received the Certificate of Grant – 4 years later. The patent will help protect the Company’s unique HPA production process and the technology that we have developed.” “Over the past 18 months it has been quite frustrating to read a number public announcements from other companies aiming to be HPA producers that have included HPA process flow diagrams that appeared to be blatant copies of Altech’s process – some even using the...
The alumina market is experiencing a year of unprecedented turbulence. Alumina, which sits in the aluminium production process between bauxite and refined metal, has historically been a highly efficient link in the supply chain. It hasn’t generated many headlines over the years because it has largely avoided any newsworthy disruption. It is, to quote Greg Wittbecker, analyst at the CRU research house, one of those markets “people have taken for granted”. Not any more. A series of supply hits have sent the alumina price on a rollercoaster ride this year, at one stage threatening the closure of several European aluminium smelters. This volatility poses some hard questions for aluminium producers, not least as to how alumina is priced. Alumina’s year of turmoil began in February, when a...
Increasing Australian aluminum imports to the US have created ample ingot supply, which market sources believe is causing wider discounts on P1020. "There is some Australian product coming in, I wouldn't say it's a massive volume, but we've definitely seen some uptick in that market," a port source said Wednesday, adding "it kind of seems like some shippers are getting their feet wet and testing the water." The port source expected imports to tick up, "so [shippers] will be looking more and more into that lane." The latest trade data from the US Census Bureau, accessed through Trade Data Monitor, showed that Australian imports of unwrought, unalloyed aluminum have been steadily rising. Australian imports grew from 1,996 mt in March to 7,781 mt in August. By comparison, imports from...
As reported by Shanghai Metals Market, social inventories of primary aluminium inventories across eight consumption areas in China, including SHFE warrants, declined by some 30,000 tonnes from Thursday October 11 to stand at 1.583 million tonnes as of Thursday October 18.The decline week-on-week exceeds stocks built over the National Day holiday, indicating continued downstream purchases. In some of the Chinese cities like Wuxi and Gongyi, the inventories declined significantly on the week. In Wuxi and Jiangsu, the inventory stood at 673,000 tonnes; in Shanghai and Nanhai, Guangdong, the inventory came in at 354,000 tonnes and 250,000 tonnes respectively. In Gongyi, Henan, the inventory stood at 107,000 tonnes. The current inventory status in the major Chinese cities is as follows:...
Shanghai Metals Market reported that despite the tradition high season in China, poor consumption in the downstream auto sector negatively affected the operating rates across Chinese secondary aluminium plants in September YoY. Auto sale in China has been on a downtrend for last few months. Operating rates across secondary aluminium producers averaged 58.25% in September, down 5.05 percentage points from a year ago but up 5.13 percentage points from August. Working days picked up in September from August across downstream die-casting plants after the summer breaks. This has driven the month-on-month increase in operating rates. However, very few downstream plants did restocking before the National Day holiday and the Mid-Autumn festival bringing down the actual demand year on year. SMM...
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, reported third quarter 2018 results and announced a $200 million common stock repurchase program as part of the Company’s 2018 capital allocation framework. In the third quarter of 2018, Alcoa also used $194 million in available cash to further reduce its net pension liability and debt and finished the quarter with a cash balance of $1.0 billion on September 30, 2018. This year, the Company has reduced its net pension and OPEB liability to $2.2 billion as of September 30, down from $3.5 billion at year-end 2017. “Today’s stock buyback announcement, our smaller net pension and OPEB liability, and our results since launching Alcoa Corporation nearly two years ago all point to the success of our strategic...
The US dollar gained on Wednesday as stocks dipped, boosting demand for safe haven currencies, after the Federal Reserve released minutes from its September meeting. LME base metals, except for zinc, ended in negative territory across the board on Wednesday. An increase of 85,725 tonnes in LME inventory, following a rise of 70,775 tonnes in the previous day, dragged the contract to an intraday low of US$2,015 per tonne. Aluminium slipped 0.7% to finally close at US$ 2018 per tonne on October 17 from US$ 2022 per tonne on Tuesday, October 16. Given the strong dollar, LME aluminium is likely to trade under pressure today between US$2,010-2,040 per tonne. As on October 17, LME aluminium cash (bid) price stands at US$ 2017.50 per tonne, LME official settlement price stands at US$ 2018 per...
