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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Cautiousness prevailed among investors last Friday as details of the European bailout agreement had yet to be determined. As a result, LME aluminum ended its five-day gain during the day and finally closed USD 13/mt or 0.58% lower at USD 2,245/mt. Traded volumes during the day contracted to near 10,000 lots. Total positions increased 3,049 lots to 862,068 lots. With global markets moving blinded and the US dollar index sticking to the 75 mark, the upward space of metals' prices will be limited. SMM expects LME aluminum to fluctuate between USD 2,210-2,250/mt today. The most active SHFE 1201 aluminum contract is expected to open lower near RMB 16,450/mt and fluctuate between RMB 16,370-16,520/mt. Most sellers and buyers of spot aluminum are expected to stay outside this last trading day in...
The most active SHFE 1201 aluminum contract opened higher at RMB 16,570/mt on October 28th following an overnight surge in LME aluminum prices. The contract hit an intraday high of RMB 16,680/mt earlier in the day. However, as support from the EU deal has already been consumed and gains during the previous trading day were slightly excessive, the contract quickly slipped amid profit-taking by longs, and finally closed at RMB 16,490/mt, up RMB 60/mt or 0.37%. Positions of the contract decreased 370 lots to 64,688 lots. Though the EU bailout deal has shed a little hope for investors, a series of practical measures need to be provided if the market optimism is to last. The most active SHFE aluminum contract has yet to wait for more goods news if it wants to consolidate at RMB 16,500/mt.
Traded prices of spot aluminum in Shanghai were between RMB 16,460-16,520/mt on October 28th, with premiums of RMB 0-20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,560-16,580/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,450-16,510/mt. As support from the EU deal has already been consumed, SHFE aluminum prices opened higher today, but only to erase most gains later. Quotations were divided during the day with some goods holders sticking to above RMB 16,500/mt and many others continuously lowering their quotations to attract buyers. Market demand was quite weak due to tighter capital supply at month’s end, with inquiries or purchases rarely seen. Market transactions were quite sparse as a result.
Norway's Norsk Hydro warned uncertain macro conditions could soften demand for aluminum as it posted a smaller-than-expected rise in third-quarter earnings on Thursday. The firm stuck to its view that global demand for aluminum would rise by 7 percent in 2011, but said markets had weakened and that growth may come in on the low side. "With current macro uncertainty, market visibility is low," Hydro's Chief Executive Svein Richard Brandtzæg said. Hydro reported underlying July-September earnings before interest and taxes (EBIT) of 1.65 billion crowns ($297.7 million), up from the 1.23 billion crowns made in the same period last year but below the average forecast of 1.71 billion in a Reuters poll of analysts. Revenue rose by 29 percent to 23.8 billion crowns, lagging analysts' estimates of...
A major aluminium smelter near Gladstone on the central Queensland coast recently commissioned Goyen Controls Co to install a system of weather sensors to allow for the monitoring of ambient weather conditions. Due to strict environmental controls and plant operating rules, the Comalco smelter, which is the largest in Australia, required a system that could deliver real time monitoring. A 30 metre tilting tower was installed by Goyen Controls Co with a range of weather sensors, which is now able to provide real time monitoring of air conditions adjacent to the smelter site. Data is transmitted from the system via a GSM link to the control room, where it is displayed on graphical and tabular displays.
Alcoa Inc. continues to negotiate with the Tennessee Valley Authority for a new power contract that could help the aluminum maker reactivate its shuttered smelting operations in Blount County. But Alcoa Vice President Michael Padgett said Thursday that aluminum prices will have to improve along with better TVA rates for the company to resume production and rehire some of the 450 employees laid off in March 2009. "Unfortunately in the past couple of months, we've had another downturn in the pricing side," Padgett told U.S. Sen. Bob Corker, R-Tenn., during a roundtable discussion on power prices and jobs. "We've been working to get a competitive rate (for aluminum) to restart the facility. But so far, the economics of the aluminum industry haven't really rallied enough to justify the...
The most active SHFE 1201 aluminum contract opened higher at RMB 16,570/mt on October 28th following an overnight surge in LME aluminum prices. The contract hit an intraday high of RMB 16,680/mt earlier in the day. However, as support from the EU deal has already been consumed and gains during the previous trading day were slightly excessive, the contract quickly slipped amid profit-taking by longs, and finally closed at RMB 16,490/mt, up RMB 60/mt or 0.37%. Positions of the contract decreased 370 lots to 64,688 lots. Though the EU bailout deal has shed a little hope for investors, a series of practical measures need to be provided if the market optimism is to last. The most active SHFE aluminum contract has yet to wait for more goods news if it wants to consolidate at RMB 16,500/mt.
Century Aluminum Co.’s discussions with power providers in Iceland continue at a slow pace, but the company remains hopeful that it will soon resume construction on the first of four 90,000-tonne potlines at its greenfield smelter in Helguvik. "The arbitration proceedings with HS (Orka) have concluded, and we are waiting for the decision from the panel. In addition, we continue to have discussions with OR (Orkuveita Reykjavikur), the other power supplier, about a way forward.
The EU Summit on Wednesday did not disappoint investors, with a series of bailout plans being reached. Supported by the inspiring news, the Euro surged over 2.5%, with the US dollar index dropping below 75. LME aluminum broke through the USD 2,250 resistance level of previous two trading days and closed USD 39/mt or 1.76% higher at USD 2,258/mt after hitting the intraday high of USD 2,295/mt. Total positions decreased 3,060 lots to 859,019 lots. Despite of a continuous five-day gain, which indicates the bottom of LME aluminum prices has been consolidated, the metal is not likely to break through the USD 2,300/mt mark in the near term due to insufficient confidence among longs as reflected by decreased positions. SMM expects LME aluminum to consolidate at USD 2,250/mt today. The most...
Alcoa, the largest U.S. aluminium producer, said it had signed a memorandum of understanding with the government of Angola to explore development of a 750,000-metric-ton-per-year smelter. The aluminium smelter could use power from hydroelectric facilities under consideration by the government, and both sides will begin a series of feasibility studies to determine the viability of the project, Alcoa said in a statement on Thursday. The agreement provides for a 12-month exclusivity period to negotiate a power contract and cooperation agreement.If the project moves forward, first metal from the smelter would be produced in 2020. Angola has committed to allocate 1,300 megawatts of firm power capacity for the aluminium industry, Alcoa said. "Alcoa is interested in pursuing projects that lower...
Indian state-run National Aluminium Co. Ltd (NALCO) has 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, a top company official said on Thursday. The metal will be shipped to a Hong Kong-based buyer in six batches of 1,250 tonnes each from November to April, Ansuman Das, commercial director at NALCO told Reuters. NALCO, whose tenders serve as a global benchmark, last month sold 9,000 tonnes of aluminium ingots at $99.75 per tonne premium over the average LME cash price on a cost, insurance and freight basis to a European buyer.
Traded prices of spot aluminum in Shanghai were between RMB 16,450-16,490/mt on October 27th, with premiums of RMB 20-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,420-16,480/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,380-16,420/mt. The SHFE current-month aluminum price narrowly fluctuated above RMB 16,400/mt, but lacked momentum to climb. Downstream demand was weak due to order insufficiency. The bearish sentiment gained strength among goods holders, with quotations being lowered to attract buyers but meeting little response. Market transactions remained limited during the day.
The most active SHFE aluminum contract stabilized with slight increase on Thursday, but met resistance at RMB 16,500/mt. Cargo holders in spot aluminum market in south China were active in selling goods but were reluctant to sell at low prices. Whereas downstream buyers just purchased as needed and were more interested in buying at low prices, leaving stalemate in the market. Mainstream transactions were done at RMB 16,480-16,500/mt, with trading market still quiet.
Alba will again be a Strategic Aluminium Partner for the fourth Gulf Industry Fair (GIF) being staged in Bahrain early next year following the renewal of a sponsorship agreement with show organisers Hilal Conferences and Exhibitions (HCE). The sponsorship agreement with HCE, a subsidiary of Bahrain-based Al Hilal Group, is the third successive year that Alba will provide top-level strategic support for the aluminium segment of the show. GIF 2012 will be held at the Bahrain International Exhibition and Convention Centre from February 7 to 9, the fourth such event staged of this comprehensive industry-related exhibition in the Middle East. It provides a highly targeted opportunity for any company or organisation from large-scale manufacturers to specialist equipment suppliers, distributors...
Harbor Intelligence says global aluminum output is at record highs, but still sees a “challenging” outlook. Based on International Aluminum Institute data, global primary aluminum production grew in September to an annualized rate of 45.05 million tons, up 11.7% from a year ago with China delivering the bulk of the growth. In China, output rose to a fresh all-time high of 19.2 million annualized tons, Harbor says. Looking forward, Harbor says it expects “limited output expansions and less output than promised” in the world. Analysts say North America restarts have run their course. The non-China pipeline “is now dry,” depending on India, which may deliver less than promised, Harbor says. “In China, at least a portion of the growth delivered by Northwest producers will be offset by...
The Chinese aluminum market will move into surplus in 2013 as new smelters in the country's western provinces come on stream, Janet Kong, managing director of China International Capital Corp., said Wednesday. China will see a deficit of around 500,000 metric tons in 2011 and another deficit in 2012, after which the market will swing back into a moderate surplus "for the foreseeable future" from 2013, Kong told delegates at Metal Bulletin's Asian Bauxite and Alumina Conference Wednesday. The country's western provinces, which enjoy lower energy costs and policy support from the government, will account for 75% of aluminum capacity additions between 2011 and 2015, she said. Production growth so far this year has reached 13.7% in the western provinces compared with 2.4% for the rest of...
The U.S. primary aluminum market is seeing a surprisingly strong burst in spot purchases at the start of the quarter, with supplier order books filling up even as volatile financial markets dispel recovery hopes. The demand pickup has caught physical market players by surprise, many of whom expected the seasonally slower fourth quarter to close out 2011 with a whimper. So far, it is shaping up to be a busier-than-normal quarter. "For the next couple of months, we are basically sold out," said one Midwest aluminum manufacturer and distributor. "The automotive sector is good, heavy truck is good, the rail industry is busy ... the casting side of the business is actually pretty busy."
Century Aluminium Co reported a net loss for Q3 of $6.6M, compared to a net loss of $16.8M for the year-ago quarter. The latest quarter results were positively impacted by a mark-to-market gain on forward contracts of $4.2M related primarily to aluminium put options. Cost of sales for the quarter included a $13.5M charge for lower of cost or market inventory adjustments. Sales for the third quarter rose to $345.6M from $279.2M year earlier. Shipments of primary aluminium for the quarter were 150.832t, compared with 147.216t in the prior year quarter. Sales in the first nine months of 2011 were $1,038bn compared with $852.4M in the same period of 2010. Shipments of primary aluminium for the first nine months of 2011 were 446.493t compared with 436.472t for the comparable 2010 period. Logan...
