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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Nearly 7% yields for Spanish debt and a 0.5 percentage point surge in French 2-year and 4-year debt overnight may indicate that the European debt crisis is spreading from peripheral countries to core countries of the Euro zone. Selling for commodities accelerated as investors’ risk aversion sentiment turned even stronger. Meanwhile, New York crude slipped below USD 100/bbl. LME aluminum plunged USD 71/mt or 3.29% following the largest loss in copper to USD 2,085/mt as a result. Short positions surged by over 10,000 lots. The latest LME aluminum stock increased 75 mt to 4,561,050 mt. LME aluminum is expected to rebound a little bit following a plunge overnight. SMM expects LME aluminum to test resistance at RMB 2,100/mt and fluctuate between USD 2,080-2,120/mt today. The most active SHFE...
Rio Tinto Alcan intends to close the Lynemouth aluminium smelter in UK, subject to the completion of a 90-day consultation process with employee and union representatives. The company is also in exclusive discussions regarding the potential sale of the power station at the site. The Lynemouth smelter in Northumberland, England opened in 1972. It employs 515 people and an additional 111 are employed at the power station. All affected employees will receive support, including re-training and job-search assistance, in order to mitigate the impact of any closure. Jacynthe Côté, chief executive of Rio Tinto Alcan, said, "This decision follows a thorough strategic review which explored every possible option for continuing to operate the smelter and power station. However, it is clear the...
Less volatile prices and supply certainty are just two factors that will make aluminium stand apart from other industrial metals including copper in the next decade, a senior analyst at consultancy CRU Group said on Wednesday. "We are predicting at least a decade now of aluminium being the preferred and most attractive metal from a consumer stance," said Paul Robinson, group manager for non-ferrous metals at consultancy CRU Group. "Aluminium looks like a metal which will have a relatively stable price path compared to alternatives. The level is important, but just as important for consumers is the lack of volatility - which again makes aluminium look attractive," Robinson told Reuters. Aluminium prices were last at $2,136 a tonne at around 1636 GMT on Wednesday, compared with copper at...
Aluminium markets situation looks more comfortable than Copper even though the surpluses in the former are high. The Aluminium markets recorded a surplus of 638500 tons during Jan-Sep 2011, this was down by 25% from 859000 tons surplus registered in Jan-Sep 2010. The calculation by World Bureau of Metal Statistics (WBMS) shows that the total surplus for the year 2010 was 1.31 million tons. Decline in surplus was the result of higher demand during the calculated period. The total consumption of Aluminium in first nine months of this year was 32.15 million tons, up 1.81 million tons or 6% from the equivalent period previous year. The consumption in the month of September 2011 was 3.69 million tons. World Aluminium production was up by 5.1% or 1.6 million tons in Jan-September 2011. In the...
Returns in case of Aluminum on a year-to-date basis stands at a negative 13 percent on the LME as weak global economic prospects has led to downside pressure on prices. Also, rising inventories acted as a negative factor for aluminum which have increased by 6 percent and 69 percent on the LME and the SHFE respectively. In the international markets, weakness in the DX has helped cushion sharp downside in prices. On the other hand, yearto-date returns are positive on the MCX and stand at 1.6 percent, as Rupee depreciation prevented downside. The Economic Intelligence Unit (EIU) expects Chinese aluminum consumption to grow at a slow pace of 5 percent in 2011 after witnessing a rise of 10.5 percent in 2010. Apparent consumption in the first seven months of the year also saw a slowdown and...
Nalco Q2 FY2012 profitability was significantly below our expectations on account of higher than expected raw aterial and power and fuel costs. We have a Neutral view on the stock. Higher realization leads to net sales growth: For Q2 FY2012, Nalco’s net sales grew by 8.9% YoY to INR 1,584cr mainly due to increased realization despite lower volumes. Realization of alumina and aluminum grew by 29.4% and 23.1% YoY to USD 400 and USD 2,599 respectively. However, the company lost production of atleast 6,000 tonnes of aluminum metal on account of coal supply disruptions by Mahanadi Coalfields. Lower domestic coal supplies hit margins: Raw-material cost as a percentage of net sales stood at 18.7% in Q2 FY2012 compared to 15.5% in Q2 FY2011. Further, power and fuel cost as a percentage of net...
Investor worries towards contagion of the European debt crisis continued to weigh on global markets. Later released October industry output and NAHB housing market index growth beat market expectations, which helped weaken the bearish market sentiment. LME aluminum previously dipped to the intraday low of USD 2,113/mt, but rebounded later to the intraday high of USD 2,165/mt supported by inspiring US economic data and surging crude prices. The metal finally closed 0.74% higher at USD 2,156/mt, the 5-day moving average, Total positions increased 5,565 lots to 901,877 lots. The latest LME aluminum stock decreased 1,625 mt to 4,560,975 mt. SMM expects LME aluminum to struggle at the 10-day moving average and fluctuate between USD 2,110-2,160/mt today. The most active SHFE aluminum contract...
LME aluminum will fall to $2,097 per tonne, a low touched on Nov. 10, as pointed by the lower channel line of a falling channel. There are two small five-wave cycles on the fall from the Nov. 14 high of $2,197, indicating the metal is riding on a powerful wave (3) which will become a key driver in the formation of a medium-term downtrend. Resistance is at $2,152, a break above which will invalidate the bearish target.
Expected price of aluminum at FOREX following the results of 2011, according to broker FOREX Club’s forecast version, has been announced. The forecast for the 4th quarter says that year-end price of aluminum may rise up to $2,550 to be by 8.5% higher against the third quarter’s figure. In the previous quarter the price of this metal fell by 7% to $2,350 per ton. Today, aluminum is a major industrial metal, produced and processed in Azerbaijan.
Aluminum output may drop in the first half of next year as producers increase idled plants to as much as 15 percent of global capacity, said United Co. Rusal, the world's largest supplier. China, Europe and the U.S. may shut down plants, Rusal First Deputy Chief Executive Officer Vladislav Soloviev told reporters in Moscow. Unless prices rise from current levels, 10 percent to 15 percent of capacity may be shut, Soloviev said after Rusal reported earnings. A 22 percent slump in prices from their 2011 peak of $2,797 a metric ton means 30 percent of producers aren't profitable, Rusal said yesterday. When demand and prices weakened in 2009, smelters curbed supply by about 5 percent in the first half of the year, according to the International Aluminum Institute. Futures rallied 37 percent...
The 15th Arab International Aluminium Conference (Arabal), hosted by Sohar Aluminium kicked off at Grand Hyatt Muscat Hotel and lasted for three days. Shaikh Saad bin Mohammed al Saadi, Minister of Commerce and Industry, said that the achievements made in the aluminium industry in the Sultanate is the product of the wise development vision of His Majesty the Sultan, of which the industry strategy that aims at diversifying sources of national economy is emanated. He added that Sohar Aluminium is one of the major projects to realise this strategy. It is also one of the major projects in Sohar Industrial Estate which witness major investments and achieves remarkable growth. The minister pointed out that since 2009 Sohar Aluminium has reached its full capacity, 370,000 MT/year. While...
The worsening European debt crisis as reflected to surging debt yields and a spread to Spain and positive US economic data pushed the US dollar index to 78 again overnight, damping longs’ confidence and thereby dragging down LME aluminum by USD 24.8/mt or 1.14% to USD 2,140.3/mt. Total positions decreased significantly by 17,549 lots to 896,312 lots. The latest LME aluminum stock increased 32,050 mt to 4,562,600 mt. As the European debt crisis continues to depress investor confidence, LME aluminum is expected to slip a little bit and fluctuate between USD 2,110-2,160/mt today. The most active SHFE aluminum contract 1201 is expected to open lower near RMB 16,200/mt and fluctuate between RMB 16,180-16,280/mt as it tests support at the 5-day moving average. The SHFE aluminum contract for...
A bullish target at $2,244 per tonne has been aborted for LME aluminum and a bearish target has been established at $2,127, a low touched on Nov. 11. The return of the price into a range of $2,096.25-$2,170 has signaled a false break above the high of the range, and the five-wave mode on the fall from $2,197 to $2,146 strongly indicates the rise from the Nov. 10 low of $2,097 will be totally reversed. Strategically, a drop below $2,146 will confirm the target at $2,127, with the potential downside at $2,097.
Hindalco Industries will apply for a ‘coal tapering linkage licence' to feed its 359,000-tonne greenfield aluminium smelter project at Mahan, Madhya Pradesh. The smelter plant has a 750 MW captive power plant catering to its requirement. A tapering licence from the Government assures coal supply from other sources till such time the allotted coal block becomes operational. The quantity of supply starts tapering to extent of the mine output. The Government had allotted the Mahan coal block at Singrauli in Madhya Pradesh to Essar Power and Hindalco for their 1,200-MW and 750-MW projects.
Australia's new carbon pricing plan will cause a contraction in the country's energy-intensive aluminium industry, already under pressure from cheaper Chinese output, the Australian Aluminium Council said. "This puts us at more of a disadvantage than we were at without the scheme," the council's executive director, Miles Prosser, told Reuters. "It is now difficult to envisage major expansion in Australia and this will certainly put a number of operations in Australia under severe pressure," Prosser said. Australia's parliament on Tuesday said it will impose a A$23/t tax on carbon emissions for 500 of the largest polluters across mining, energy, heavy manufacturing and transportation from mid-2012. Electricity comprises 30% of aluminum smelting costs. Producers, which include Alcoa and Rio...
Indian state-run National Aluminium Co. Ltd (NALCO) has sold 9,000 tonnes of aluminium ingots at $89 per tonne premium over the average LME cash price on a cost, insurance and freight basis, a senior company official said on Friday. The metal will be shipped in six batches of 1,500 tonnes each from November to April to the European buyer, Ansuman Das, commercial director at NALCO, told Reuters. NALCO, whose tenders serve as a global benchmark, last month sold 7,500 tonnes of aluminium ingots at $97 per tonne premium over the average LME cash price on a cost, insurance and freight basis to a Hong Kong-based buyer.
Though a change of government in Italy and Greece helped ease investor worries towards the European debt crisis, the record high bond yield in Italy overnight and veto of Greek opposition party towards the country’s austerity plan reignited investors worries, with the US dollar index rebounding to above 77. Due to strong short selling, LME aluminum erased intraday gains and finally closed USD 7.5/mt or 0.35% lower at USD 2,165/mt as a result. The traded volume added 703 lots while total positions lost 46 lots to 913,861 lots. SMM expects LME aluminum to meet strong resistance at the 30-day moving average today and fluctuate between USD 2,140-2,180/mt as it tests support at the 5-day moving average. The most active SHFE aluminum contract 1201 is expected to open lower near RMB 16,250/mt...
Iran says its aluminum and alumina exports have exceeded USD 267 million in the first seven months of the current Iranian year (started March 21). According to the Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO), the figure indicates a 32-percent increase over the corresponding figure last year, IRNA reported. According to the report, the country's exports of aluminum ingot and alumina powder reached USD 201 million during the same period last year. Iran is ranked among the 15 major mineral-rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan. Earlier, Deputy head of Iran's Geology and Mineral Exploration Organization Behrouz Borna said Iran...
