Century Aluminum’s proposed USD 4 billion primary aluminum smelter in Inola, Oklahoma, is “moving forward on all fronts” as the company prepares for construction, despite local opposition and legal challenges, CEO Jesse Gary said during the company’s third-quarter earnings call. Developed jointly by Century Aluminum and Emirates Global Aluminium (EGA), the project is designed to produce 750,000 tonnes of primary aluminum annually, potentially doubling U.S. primary aluminum production. The facility is expected to create thousands of direct and indirect jobs and add USD 1.5 billion to Oklahoma’s gross domestic product, according to company estimates. The partners had targeted construction to begin by the end of 2026. However, local restrictions and permitting challenges have affected the...
LME aluminium stocks declined by more than half during the first nine months of 2026, falling by 267,875 tonnes from 509,250 tonnes on January 2 to 241,375 tonnes on September 30 (52.6 per cent). The decline continued throughout the period, with average warehouse inventories falling each month. Compared with the same period in 2025, monthly average stocks were lower across all nine months, with the gap widening in the third quarter. Q1 LME aluminium stocks fall 18.2 per cent LME aluminium inventories continued to decline during Q1 2026. Month-end stocks fell from 495,725 tonnes in January to 465,550 tonnes in February, before dropping further to 416,775 tonnes in March. Monthly average inventories stood at 498,670 tonnes in January, 481,801 tonnes in February and 440,710 tonnes in March....
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The U.S. non-farm payroll data came out better-than-expected last Friday, helping the U.S. dollar index climbing 0.361 points to 78.665. LME aluminum continued to move within a narrow range last Friday. The metal opened at USD 2,130/mt and closed near USD 2,120/mt. Due to the strengthening U.S. dollar and the lasting European debt crisis, positions of the metal increased 4,568 lots to 980,097 lots. The traded volume decreased 6,121 lots to 12,471 lots. The LME aluminum stock decreased 2,675 mt to 4,554,975 mt. SMM expects LME aluminum to dip slightly today and fluctuate between USD 2,080-2,130/mt. The most active SHFE three-month aluminum contract is expected to fluctuate between RMB 16,100-16,250/mt lacking upward momentum. Downstream buyers of spot aluminum will remain cautious and...
Global AC drives manufacturer Vacon has delivered a dispatch of variable-speed AC drives with a total power of 58 megawatts for Indian-based AnRak Aluminium Ltd. The AC drives were delivered to a new aluminium refinery which is being built near the City of Visakhapatnam in India's southeastern state of Andhra Pradesh. "We are proud that AnRak Aluminium decided to choose Vacon as their AC drives supplier for the new factory. Vacon is growing in India, and this delivery is an example of Vacon's wide and reliable product offering combined with in-depth application expertise," says Shailendra Salvi, Managing Director of Vacon India. The number of AC drives delivered to the site was more than 300. The powers ranging from 2.2 kW to 1.5 MW, the AC drives are used to control the various processes...
Norsk Hydro expects aluminium demand to remain strong, despite the current economic gloom. Its CEO Svein Richard Brandtzæg told a capital markets day that aluminium fundamentals remain promising due to the metal’s many positive qualities, including its light weight and recyclability. He said world demand has grown strongly over the last two years, rising 9% in 2010 and around 7% in 2011. Growth outside China is expected to continue in 2012, although at a slower pace of around 3-5%. He warned the current economic uncertainty has affected customer sentiment which has led to weaker prices and softer end-markets. Hydro presented three scenarios for earnings potential based on different levels of aluminium prices and exchange rates, in all of which its EBITDA would remain significantly above...
The aluminum industry in the GCC is on the brink of becoming a leading global contributor, according to a new publication issued by Deloitte Middle East. The report titled “GCC: Tomorrow’s Aluminum Powerhouse” pointed out that the UAE, Oman, Bahrain, and Qatar are all home to some of the largest aluminum smelters in the world. Five smelters exist in the GCC today with a combined production capacity of just under 3.6 million tons. Their cumulative contribution to total global production in 2010 was estimated at seven percent, said the report. Considering the fact that Maaden, a sixth smelter in Saudi Arabia, is set to become operational by 2013 while Emal’s robust expansion is scheduled for completion by 2014, the GCC is poised to become a primary aluminum production powerhouse with the...
Aluminium Bahrain B.S.C. (Alba) recognises that it was due to its skilled and remarkable workforce that the company was able to maintain a sound overall performance in 2011, according to a statement issued by the Chairman of Alba’s Board of Directors, Mahmood Hashim Al Kooheji. The statement was made following the last quarterly meeting for the year 2011 that was held on Wednesday, November 30, 2011 at the Ritz Carlton Bahrain. The Chairman of Alba’s Board of Directors, Mahmood Hashim Al Kooheji said: “2011 will be an exceptional year as the company succeeded in demonstrating its strength and resilience despite the challenging times and was able to exceed sales & production growth targets throughout the first three quarters of 2011.” The Board examined some of the matters arising from the...
Base metals continued to trade southwards on Wednesday amid strengthening US dollar and mounting European debt crisis contagion fears still dogged out in the market. Eurozone finance ministers agreed to leverage EFSF by introducing two options, sovereign bond partial risk protection and a co-investment approach. Meanwhile the next trance of bailout fund for Greece, at EUR 8b, was endorsed as widely expected after numerous postponement. But, the discussions on IMF support to the region's rescue fund were still elusive. Sentiments further weighed down by comments from a PBoC adviser in the monetary policy committee that China plans only to fine-tune its policy stance, not loosening monetary policy. China's annual production capacity of primary aluminium may rise by 60% in the next four...
Aluminum suppliers are offering first-quarter contract premiums to Japanese buyers around $114 to 115 a metric ton as negotiations for January-March shipment start against a background of soft domestic demand, suppliers told Dow Jones Newswires. First-quarter charges are expected to settle lower than their fourth-quarter level of $118/ton-119/ton due to lower consumption as auto makers--major consumers of the light metal--cut production following flooding in Thailand that has reduced parts supply, traders and producers said. Ongoing concerns over the effect of the euro-zone debt crisis on demand for metals and consumer goods are adding to bearish sentiment, a major supplier to the Japanese market said. "Looking at the international situation...it's reasonable to feel that the premium...
Large shipments of aluminium are expected to arrive into London Metal Exchange (LME) warehouses in December as a souring economic outlook crimps demand and a European dollar crunch intensifies the need for cash ahead of the year end. Producer metal has become more freely available as consumers have deferred 2012 orders due to Europe's deteriorating outlook, metals industry sources said. Chinese demand has been cut by a slowdown hitting its export markets and traders say a squeeze on dollar funding in Europe has also raised the prospects that metals financing deals, at least at the margin, may not be renewed or may come undone. "I have heard the inflow is six digits," said one physical trader based in London, referring to the amount of aluminium in tonnes expected to enter LME warehouses....
Significantly contracted manufacturing activities in September’s China and euro zone weakened support from a reserve requirement cut by China central bank on the previous day. Better-than-expected manufacturing index from the U.S. alone did not provide much comfort for investors, with the U.S. dollar index consolidating support at the 78 mark. LME aluminum closed USD 20/mt or 0.95% higher at USD 2,126/mt overnight after falling from USD 2,156.8/mt, the intraday high, due to short selling. Aluminum positions in LME increased 3,911 lots to 975,529 lots. LME aluminum stock decreased 2,700 mt to 4,557,650 mt. Today’s market focus will be the non-farm payroll data from the U.S. SMM expects LME aluminum to continue test of USD 2,100/mt and fluctuate between USD 2,090-2,140/mt. The most active...
Norsk Hydro ASA sees growth in global aluminium demand slowing next year as a result of economic turbulence that is creating a weak market and pushing many industry players into the red. Hydro, one of the world's top aluminium producers, said it saw demand for primary aluminium outside China rising by 3-5 percent in 2012, after total demand growth slowed to 7 percent in 2011 from a 19 percent rise a year earlier. Europe's sovereign debt crisis has curbed aluminium demand on parts of the continent and it could take some time before demand improves, the firm's Chief Executive Svein Richard Brandtzaeg said at a capital markets event on Thursday. "In Europe, the uncertainty relating to the sovereign debt crisis has impacted our customers," he said. "It may take some time before we can see...
Rio Tinto Alcan is pushing ahead with construction of a $3.3-billion (U.S.) smelter in Kitimat, B.C., even as stagnant prices have spurred a selloff of other aluminum assets. London-based Rio Tinto PLC (RIO-N52.15-0.92-1.73%), which acquired Montreal-based aluminum giant Alcan for $38.1-billion in 2007, is expected to announce Thursday it has final approval to modernize the 57-year-old smelter to double its capacity. Approval will see Rio spend another $2.7-billion on Kitimat, after already setting aside $650-million towards the upgrade, raising the construction price tag more than 30 per cent from $2.5-billion. The plan includes demolishing a building and clearing space for a new plant. Rio said this week it expects to increase capital spending 17 per cent next year to at least...
An Empowered Group of Ministers (EGoM) today decided to maintain status quo with regard to its remaining 49 percent stake in aluminium maker Balco. Vedanta Group firm Sterlite Industries holds 51 percent stake in Balco. According to sources, Vedanta chief Agarwal had written a letter to Prime Minister Manmohan Singh on July 4 regarding the government's residual stake. In a meeting of the EGoM, called to discuss the government's response to a letter by Agarwal, it was decided that status quo will be maintained, a senior Mines Ministry official told media. "The Prime Minister wanted the EGoM to approve the draft of the letter to be sent to Vedanta chief and the EGoM today approved it saying that the status quo will be maintained," the official said. Last year, the government had said that...
The government has set aside Rp 2 trillion ($220 million) to buy a majority stake in Indonesia Asahan Aluminium from Japan’s Nippon Asahan Aluminium. The Indonesian government, through its Government Investment Center (PIP), will take funds from next year’s state budget to finance the purchase of the shares in the firm known as Inalum, according to the head of the PIP, Soritaon Siregar. The government’s move to get majority ownership of Inalum is part of its efforts to regain control of the country’s commodities sector. Inalum produces 230,000 tons of aluminum a year, with 40 percent of the output sold in the domestic market and 60 percent to the Japanese market.
BR reported that LME Aluminum will fall to the November 25 low of USD 1,989 per tonne as a wave (3)-4 rebound has completed. The rebound was weak, as it failed a resistance at USD 2,043, the 38.2% Fibonacci retracement on the fall from USD 2,130 to USD 1,990 confirming a preceding downtrend is steady. A rise above USD 2,043 will be limited to USD 2,060, the 50% Fibonacci retracement.
Primary aluminium production in China tumbled in October, as smelters cut production due to a power shortage. According to the CNIA, primary output was 1.49Mt in October, down 5.7% from the previous month but still up 15.5% y-o-y. That brings the Jan-Oct total primary output to 14.97Mt, up 8.94% y-o-y. October’s production equates to an annual rate of 17.56Mt, the lowest level since May this year. Power shortages have continued over the past couple of months, and seemed to have spread to more regions. Production cuts have occurred at smelters in Guangxi, Yunnan, Hunan and Hubei due to power rationing. Nonetheless, domestic production is expected to stop falling and to increase in the last two months of the year on improvement of operating rate at recently commissioned projects, which...
The Aluminum Association estimates that aluminium demand in the United States and Canada (shipments by domestic producers plus imports) totalled an estimated 16,057 million pounds during nine months of 2011, 5.9% above the same period of 2010. Shipments of aluminium extruded products by domestic producers totalled an estimated 255.9 million pounds during October 2011, an increase of 8.3% over a year ago. Producer shipments of aluminium drawing stock, bare wire and rod & bar totalled 101.3 million pounds during October 2011, increasing 3.3% over last year. US real GDP increased at an annual rate of 2.0% in the third quarter of 2011 according to the latest estimate released by the Bureau of Economic Analysis.
The slide in aluminium prices continued last week. Market View by Lloyd O’Carroll, Davenport & Company The slide in aluminium prices continued last week. The LME cash price is closing in on $2000/t which would be the lowest price since July 2010. The decline was justified in our view given a litany of negative news and economic data. The week began with the rumblings, which were later confirmed, that US congressional super-committee failed to reach an agreement on budget cuts. Although there is no immediate impact, it was a reminder to the market that the Beltway remains gridlocked on how to lower the ballooning US debt. Later in the week, economic data showed that manufacturing in both the euro zone and in China contracted in the past month, according to purchasing managers surveys. In...
The U.S. Fed together with the European Central Bank and other 4 large central banks made a joint statement on November 30th to lower U.S. dollar swap prices by 50 basis points and to take measures to provide liquidity for financial markets. Meanwhile, China’s central bank said to lower bank deposit reserve requirements by 0.5 percentage points. Supported by thesenews, LME aluminum surged USD 114/mt to USD 2,110/mt overnight. The LME aluminum stock decreased 2,650/mt and positions increased 6,440 lots to 971,618 lots. As such goods news will continue to provide support, SMM expects LME aluminum to fluctuate between USD 2,090-2,160/mt today. The most active SHFE aluminum contract 1201 is expected to return above RMB 16,000/mt and fluctuate between RMB 16,000-16,500/mt. Spot aluminum prices...
