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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Alcoa is progressing in its plans to modernize its Massena operations by selecting an outside engineering firm. The aluminum company has selected Bechtel Engineering, a worldwide firm with a presence in Montreal, to move its modernization plans forward, according to Alcoa spokeswoman Laurie A. Marr. Local management has been working all year on the engineering and site plans for the modernization. Alcoa’s board of directors will ultimately decide whether to commit to the modernization by March 31, 2013, and local staff are using that time to hammer out all of the details and make Massena as attractive as possible to corporate officials. Alcoa’s commitment to modernization could ensure the company’s future here for decades to come. Retaining Bechtel is another part of drawing up the...
Rusal, the world's top aluminum maker by output, has signed an agreement with Chinese corporation Norinco to acquire a 33% stake in its aluminum sales unit Shenzhen North Investments. The deal is expected to be closed on January 31, 2012 pending clearance from regulators. The Russian aluminum giant has also entered into a shareholder agreement with Norinco that grants Rusal the right to appoint two directors to the board of Shenzhen North Investments.Rusal will also be entitled to name a vice-chairman of the board of supervisors, a deputy general manager and a deputy chief financial officer.
Italian bond yields surged to new highs last Friday. Standard & Poor’s downgraded Belgium’s debt rating and offered a negative outlook for the country. Mounting worries towards the European debt crisis caused a continuous slip in the Euro while the US dollar index surged to 79.702 supported by its haven attribute. Metals were depressed as a result. The continuous weak demand for spot aluminum led to stronger short selling. LME aluminum closed at USD 1,992/mt a new yearly low with a position surge of over 24,000 lots. Total positions for the metal increased 24,016 lots to 971,713 lots. The latest LME aluminum stock decreased 2,625 mt to 4,562,675 mt. The bearish market sentiment will prevail in today’s Asian markets. SMM expects LME aluminum to struggle at USD 2,000/mt and may hit a new...
Key experts and top managers from Qatar University’s Material Technology Unit, the Norwegian University of Science and Technology, Qatalum and Hydro, gathered at a symposium to discuss the properties, usage area and production processes of aluminium – an element being described as the metal for the future. While presenting the overview of Qatalum, Qatar’s first premium primary aluminium smelter, which is jointly owned by Qatar Petroleum and Norway-based Norsk Hydro, Qatalum chief executive officer Tom Petter Johansen said the company would ensure continuous aluminium production to support the local construction industry. “Since we have reached full production capacity since the end of third quarter of this year, we will be able to continue producing high quality primary aluminium products...
MCX Aluminium traded with the negative node and settled -1.67% down at 106.3 as HSBC’s November China PMI contracted unexpectedly. Demand was weak at major consumption countries. Disappointing results of German bond sales added to worries that the Euro zone debt crisis is spreading into core countries of the region. As a result, investors sold their commodities to buy the safer US dollar, thereby driving the US dollar index to above 79. Mixed economic data from the US failed to improve the pessimistic market sentiment.US and European markets continued to absorb China's sluggish HSBC Manufacturing PMI, while the Euro-zone's manufacturing data announced in the evening was weak and the US job reports and durable goods orders figure were all negative. MCX Aluminium Nov contract is looking to...
Aluminium prices may have made some gains during October, but they have since fallen and will remain under pressure in coming months as demand worries persist. With as much as half of the industry losing money at current prices producers are likely to respond by curbing output. "Something has to give and it seems most likely that some form of low price induced production cutbacks will be required to redress the imbalance," RBS said in its latest weekly report. The London Metal Exchange (LME) three-months aluminium price was last indicated at $2,003 a tonne. "Aluminium's fundamentals are not great, but the price is deep into the cost curve," BNP Paribas analyst Stephen Briggs said. Briggs did not rule out the potential for aluminium prices to rise in line with benchmark copper in coming...
South Korea has bought 3,000 tonnes of high-grade primary aluminium ingot of Malaysian origin via tenders on Wednesday, state-run Public Procurement Service said. The purchase details are: 2,000tonnes bought from Sumitomo Corp at premium of $115 and 1000tonnes from LG International Corp at premium of $114.
Orissa State Pollution Control Board (OSPCB) has warned National Aluminum Company (Nalco) over the frequent leakage polluted water from the ash pond of the company’s captive power plant at Angul. The pollution watchdog cautioned that it would stern action against the company if it fails to manage its ash disposal system effectively. OSPCB advised the aluminium major to supply the ash to the nearby coal fields in Talcher through pipe for filling up the pits. In October, OSPCB had sent a notice to Nalco to stop using one of its two ponds as an inspection team found cracks in one of the ponds.
China has agreed to a new $4 billion loan to help Venezuela boost its oil output and will also help upgrade power plants and increase production of iron and aluminium. China has swiftly become Venezuela's biggest foreign lender in recent years, and has previously agreed to more than $32 billion in loans. President Hugo Chavez's government is repaying the loans with oil shipments.
Chairman of the Aluminum Association's Board of Directors and President of Nichols Aluminum, Thomas Brackmann, announced the appointment of Jean Simon, President of Primary Metal for Rio Tinto Alcan to the Chairmanship of the Aluminum Association's Executive Committee. Jean Simon has been part of the Rio Tinto Alcan team since 1979 holding various senior management roles including: President of Primary Metal North America (2006-2011), President of Primary Metal Quebec and USA (2005-2006,) President (2004-2005) and Vice-President for Operations (2002-2004) of Rio Tinto Alcan Primary Metal Saguenay-Lac-Saint-Jean, General Manager of Vaudreuil Works (2001-2002,) General Manager of Laterrière Works (2000-2001,) and General Manager of Isle-Maligne Works (1998-2000.) From 1994 - 1997, he served...
Shandong Huayu Aluminum & Power Co.,Ltd located in Linyi City, Shandong Province,has stopped using coke oven gas and has turned to natural gas as their industrial fuel. The factory director explained that aluminum ingots and aluminum bars are their main aluminum products.Using natural gas will cost much but this kind of clean energy can increase production by 1000 ton/year,and will create ten million yuan as profits for the company. At present, there are more and more industrial enterprises turning to natural gas.
Gov. Scott Walker was in Manitowoc on Friday to commend Wisconsin Aluminum Foundry on their current investment at their plant, which has been in Manitowoc for more than 100 years. Wisconsin Aluminum Foundry is in the middle of a two-year, $7.5 million project that is expected to add about 43 new jobs. State aid was used for this project and locally, WAF accepted a loan from Industrial Development Revolving Loan program, set up to aid local businesses for expansion of their facilities.
SINGAPORE: A bearish target at $2,029 per tonne is unchanged for LME aluminum, as it is riding on a downward wave (3)-3. This wave will unfold towards the 161.8 percent Fibonacci projection level, based on the length of the wave (1) and the peak of the wave (2) at $2,165. The metal has broken twice below a support at $2,077.75, provided by the lower trendline of a triangle, significantly increasing the chance of a further fall to $2,029. Resistance is at $2,102, a rise above which will extend to $2,129. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
HSBC’s November China PMI contracted unexpectedly. Demand was weak at major consumption countries. Disappointing results of German bond sales added to worries that the Euro zone debt crisis is spreading into core countries of the region. As a result, investors sold their commodities to buy the safer US dollar, thereby driving the US dollar index to above 79. Mixed economic data from the U.S. failed to improve the pessimistic market sentiment. The LME aluminum stock surged 14,300 mt overnight. The strong selling wave dragged LME aluminum prices to USD 2,003/mt, a new yearly low, during the day. The metal slightly rebounded at the tail of trading and closed at USD 2032.5/mt losing 2.52%. SMM expects LME aluminum to test resistance at USD 2,050/mt and fluctuate between USD 2,005-2,055/mt...
Jacynthe Cote,CEO of the world's largest aluminium producer, Rio Tinto Alcan has said the firm is working with its Omani partner to find ways to boost aluminium production in the Sultanate, Muscat Daily has reported. The company will focus on the Middle East in its future plans, especially the proposed expansion of the smelter at Sohar Aluminium, a joint venture between Rio Tinto Alcan, Oman Oil Co and the Abu Dhabi National Energy Co, he said. "We are working with our Omani partner to explore how we could increase primary aluminium production in Oman and further contribute to socio-economic development and job creation," said Cote.
With the strike of contractual workers entering the sixth day on Monday, the Nalco management began regulating power supply to the operating aluminium-producing pots in the smelter plant since evening. The power regulation will impact aluminium production. “We managed the two plants for six days but it is impossible to carry on for long with nearly 5,000 workers on strike.The power supply to 804 running pots is being regulated as a precaution. If the strike continues, we will be forced to close the pots one after the other,” said a Nalco official. The stalemate between the Nalco management and striking contractual workers continued with the State Government remaining a mute spectator. Talks will be held between the Central Chief Labour Commissioner, the Nalco management and the...
Aluminium is still one of the biggest contributors to Bahrain's gross domestic product (GDP), and forms most of the kingdom's exports. Oil and aluminium contributed 31pc of total GDP or BD2.5 billion ($6.6bn) to nominal GDP in 2010. "Future plans to expand aluminium is likely to increase the kingdom's dependence on these sectors to finance Bahrain's capital account,improve remittances and net income from investments which have all been on the negative side. "Alba intends to introduce a sixth production line and increase the output of the current five lines.
LME base metals prices continued to fall.Shanghai metal prices seemed to stabilize, but there is still a possibility that metal prices will fall further in the short term since US and European stocks plummeted again yesterday. Fears of US and European debt issues and expectations of a slowdown of global economic growth continued to depress market sentiment. Moody's warned France on Monday that a sustained rise in its debt yields could harm its ratings outlook. The failure of a "super committee" of US lawmakers to reach agreement on a deficit cutting plan triggered investor concerns over the US economic outlook, coupled with weaker-than-expected US economic data, global financial markets were depressed again, and US and European stocks plummeted in response, with US stocks falling around...
