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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Nuclear Power Corporation of India Ltd (NPCIL) and National Aluminium Company Limited (NALCO) have entered into a joint venture agreement for setting up nuclear power plants across the country. The agreement was signed by Dr. SK Jain, Chairman and Managing Director, NPCIL and BL Bagra, Chairman cum Managing Director, NALCO, at Mumbai. NALCO is a PSU under the administrative control of Ministry of Mines. It has over 25 years of experience in mining, alumina refining, power generation and aluminium smelting. NPCIL, a wholly-owned enterprise under the Department of Atomic Energy, involves in setting up nuclear power plants in India. Presently, NPCIL operates 20 nuclear reactors with a total installed capacity of 4780 MW. It has six reactors with 4800 MW capacity under construction.
Norwegian aluminium producer Norsk Hydro said on Wednesday it would not restart currently idled capacity at its Sunndal primary aluminium smelter in Norway until market conditions pick up. The company's Sunndal 3 production line was idled in early 2009 in response to weak demand. "We announced in April the restart of the first 15,000 tpy of the curtailed 100,000 line at Sunndal, Norway. The ambition was to restart the full line by the end of 2011, on condition of satisfactory market conditions," a spokesman said. "Based on the current situation and market visibility, we have not taken the decision to continue the restart of the remaining 85,000 tpy capacity. We will review this when market conditions improve," he added. Last month the company warned that uncertain economic conditions...
China aims to produce 24 million metric tons of aluminum per year by the end of 2015, the National Business Daily reported Tuesday, citing a senior official from the semi-official China Nonferrous Metals Industry Association. Beijing also plans to bring 75% of the country's aluminum capacity under the control of its top 10 producers by 2015, from 67% in 2010, director of the association's international department Bian Gang said in the report, citing China's 12th five-year plan for the nonferrous metals sector. As part of the plan, China will phase out 800,000 tons of obsolete aluminum capacity, he said. "The manufacturing structure will be revamped in the next five years, and we'll see more producers moving to areas where production costs are a lot lower," he said. Zinc output and lead...
The ex-dividend date for Noranda Aluminum (NYSE:NOR) is tomorrow, November 9, 2011. Owners of shares as of market close today will be eligible for a dividend of $1.03 per share. At a price of $10.09 as of 9:30 a.m. ET, the dividend yield is 1.2%. The average volume for Noranda Aluminum has been 309,200 shares per day over the past 30 days. Noranda Aluminum has a market cap of $687.8 million and is part of the basic materials sector and metals & mining industry. Shares are down 29.9% year to date as of the close of trading on Monday. Noranda Aluminum Holding Corporation engages in the production and sale of primary aluminum products and rolled aluminum coils in the United States. It mines, produces, and sells bauxite used for alumina production. The company has a P/E ratio of 5.5, above...
Reliance Steel & Aluminum Co (NYSE: RS) closed Monday's trading session at $45.24. In the past year, the stock has hit a 52-week low of $31.09 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $43.48 and resistance in the $47.16 range. Technical indicators for the stock are Bullish and S&P gives Reliance Steel and Aluminum (RS) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on Reliance Steel and Aluminum (RS), look at the Mar '12 $45.00 covered call for a net debit in the $40.24 area. That is also the break-even stock price for this trade. This covered call has a duration of 130 days, provides 11.05% downside protection and an assigned return rate of 11.83% for an annualized return rate of 33.21% (for comparison...
Traded prices of spot aluminum in Shanghai were between RMB 16,200-16,240/mt on November 9th, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,270-16,310/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,170-16,210/mt. China’s Consumer Price Index slipped rapidly in October, which significantly eased inflation pressures in China. The Producer Price Index, however, slipped much more than expected. The weak domestic demand dragged down today’s SHFE aluminum price. Downstream demand for spot aluminum remained weak, eliminating premiums over the SHFE current-month aluminum price and in the mean time eroding the metal’s momentum to rebound. A few middlemen purchased at lower prices. Market...
China's October CPI growth narrowed remarkably as expected, and eased inflationary pressure led to fine-tuning in tightening monetary policy, boosting confidence in domestic market. Purchases were not frequently seen among downstream aluminum processors in South China, limiting rebound in aluminum market. Meanwhile, cargo holders were not willing to sell at low prices, with mainstream transactions done at RMB 16,360-16,380/mt. Transactions were modest in the market on Wednesday.
China aims to produce 24 million metric tons of aluminum per year by the end of 2015, the National Business Daily reported Tuesday, citing a senior official from the semi-official China Nonferrous Metals Industry Association. Beijing also plans to bring 75% of the country's aluminum capacity under the control of its top 10 producers by 2015, from 67% in 2010, director of the association's international department Bian Gang said in the report, citing China's 12th five-year plan for the nonferrous metals sector. As part of the plan, China will phase out 800,000 tons of obsolete aluminum capacity, he said. "The manufacturing structure will be revamped in the next five years, and we'll see more producers moving to areas where production costs are a lot lower," he said. Zinc output and lead...
A racketeering lawsuit filed by Bahrain’s state-owned aluminum producer against Alcoa Inc., the largest U.S. aluminum producer, was reopened by a U.S. judge. Aluminium Bahrain BSC, known as Alba, sued in February 2008, claiming that New York-based Alcoa bribed senior officials in Bahrain and caused Alba to pay inflated prices for alumina, the principal raw material in aluminum. A month later, U.S. District Judge Donetta Ambrose administratively closed the case in federal court in Pittsburgh after the U.S. Justice Department said it was investigating whether Alcoa made corrupt payments in Bahrain. Alcoa asked Ambrose last month to reopen the case and sought permission to file a motion seeking its dismissal because racketeering law “does not apply to the extraterritorial conduct” alleged by...
Fitch Ratings has assigned India-based Vedanta Aluminium Ltd's (VAL) USD500m term loan a rating of 'Fitch AA(ind)(SO)'. The rating reflects the unconditional and irrevocable guarantee provided by VAL's ultimate parent - the UK-based Vedanta Resources Plc ('BB+'/Stable) - for the debt. The guarantee covers timely payment of interest and principal obligations. For more details, please refer to the Fitch's rating action commentary, "Fitch Rates Vedanta Aluminium's Project Finance Facility 'AA(ind)(SO)", dated 10 May 2011 and available at www.fitchratings.com.
Aluminium inventories in Shanghai appreciated during the week ending 4 Oct 2011 giving an indication that some restocking exercise was under way in the metal after week imports reported for September. After the decline in China PMI this month the markets were wondering that the intake of Aluminium and other metals will be lower in the midst of all this the inventories showed an increase. Shanghai Aluminium warehouse inventories registered a rise of 8614 tons to 121943 tons. Unwrought Aluminium imports during the month of September were down by 6.8% on a monthly basis. On a yearly basis the inventories were up by 0.6% to 66163 tons in September. Some rise in the month of October is anticipated and if that happens it will be a boost to the Aluminium prices. The LME Aluminium prices have...
An appellate court postponed until November 24 the hearing of an $801,200 lawsuit filed by the Rusal Sayanogorsk Aluminium Smelter against RusHydro for losses incurred after an accident at the Sayano-Shushenskaya Hydropower Plant, the Russian Legal Information Agency (RAPSI) reported from the court on Tuesday. RusHydro is Russia's largest power generating company comprising 60 renewable energy source plants, including the Sayano-Shushenskaya Hydropower Plant, which is presently under repair. RUSAL is the world's leading aluminum manufacturer. It occupies 10 percent of the global market. The hearing was postponed upon the court's initiative. The board of judges investigating the case asked the companies to provide additional written clarifications on the lawsuit. The accident at the plant...
Argentine aluminium producer Aluar (BUE:ALUA) yesterday said that its production capacity in the Puerto Madryn city had been reduced by between 20% and 25% due to strong rains on Sunday. The rains flooded electricity installations and affected the power supply from the Futaleufu hydroelectric plant as well as Aluar's own power generation capacity. The supply to some auxiliary and productive installations was severely affected, the company added. Aluar is working to restore the operations. In March 2011, Aluar launched installations at its Puerto Madryn plant, increasing the plant's annual production capacity to 460,000 tonnes.
Aluminium prices gained 0.94 per cent to Rs 106.90 per kg in futures market today on the back of pick-up in spot demand and a firming trend overseas. At the Multi Commodity Exchange, aluminium for delivery in November rose by a rupee, or 0.94 per cent, to Rs 106.90 per kg, with a business turnover of 993 lots. The metal for delivery in December rose by a similar margin to Rs 107.75 per kg, with a turnover of 25 lots. Market analysts said besides pick-up in spot demand, a firming trend in the overseas market mainly helped aluminium prices to trade higher at futures trade. Meanwhile, aluminium rose by 0.9 per cent to USD 2,158.75 a tonne on the London Metal Exchange.
South Korea has bought a total of 6,000 tonnes of high-grade primary aluminium ingot registered on the London Metal Exchange (LME) via tenders closed on Wednesday, the state-run Public Procurement Service said. According to the government procurement agency's website (www.g2b.go.kr), the purchase details are as follows: TONNES ORIGIN SELLER PREMIUM (CIF/T) 1,000 Malaysia LG Corp $119 2,000 worldwide Metal Park Corp $126.78 Note: Arrivals for the above deals are by Jan. 15, 2012 at the port of Incheon, the agency said. The premium is over the London Metal Exchange prices. TONNES ORIGIN SELLER PREMIUM (CIF/T) 2,000 India LG Corp $114 1,000 India STX Corp $117 Note: Arrivals for the above deals are by Jan. 15, 2012 at the port of Incheon, the agency said. The premium is over the London Metal...
Buoyed by increase in volume of business from the export markets, aluminium die-castings manufacturer Sundaram Clayton has posted a 73 per cent year-on-year increase in second quarter net profit at Rs 16.39 crore. Net sales for the quarter rose 27 per cent to Rs 240.79 crore, over the corresponding period last year. Exports – mainly from North America and Europe – contributed around 38 per cent of sales this quarter – this is 56 per cent more than export sales the same quarter last year, said Mr H. Lakshmanan, Executive Director, Sundaram Clayton. The company exports castings for higher tonnage commercial vehicles to Cummins group and Volvo. “Although the auto industry (particularly cars) in North America and Europe is down, this particular class of vehicles is doing significantly well.”...
The biggest decline in aluminum prices since the global recession means at least 25 percent of the world's smelters may be unprofitable. The metal fell 23 percent to $2,135.50 a metric ton on the London Metal Exchange since May 1 and energy costs gained 16 percent in the past month. Twenty-five percent of production loses money below $2,350 and 50 percent under $2,000, according to estimates by Bloomberg Industries. About 10 percent of output may be shut by the first quarter, said Jochen Hitzfeld, the analyst at UniCredit SpA in Munich ranked by Bloomberg as the most-accurate price forecaster over two years. Alcoa Inc. (AA), the largest U.S. producer, said last week that a "significant" part of global capacity is marginal. Aluminum Corp. of China Ltd. said in October that prices are close...
The Italian parliament approved the country’s budget plan for 2012 overnight. The country’s Prime Minister Berlusconi failed to win a majority of votes, and said later that he would resign after austerity measures pledged to the European Union were approved. This eased investor worries towards Italian debt woes. However, the market sentiment was still slightly bearish before final results were announced, weighing on metals prices. After dipping to the intraday low of USD 2,103/mt, LME aluminum rebounded and recovered the 5-day moving average amid progress made in Italy and strong performance of crude oil. The metal finally closed at USD 2,150.3/mt, up USD 24.5/mt or 1.15%. Total positions decreased 2,734 lots to 889,961 lots. The latest LME aluminum stock slipped 2,900 mt to 4,543,575 mt....
