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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India's state-run National Aluminium Co on Monday issued a tender to export 7,500 tonnes of aluminium ingots, commercial director Ansuman Das said on Monday. The last date for submission of bids is Oct 25. The metal would be shipped in six batches of 1,250 tonnes each from November to April, he 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, Das said.
Alcoa , the largest U.S. aluminum producer, has dropped long-held plans to develop a new smelter in Iceland, saying on Monday it had decided it could not get long-term, cheap power for the project. The decision to cancel the smelter will be a blow to Iceland, still recovering from a deep recession caused by the collapse of the financial sector in late 2008. "At this time, we are unable to acquire the amount of power we need at a competitive price, in order to consider building a smelter in Bakki," said Tomas Sigurdsson, managing director of Alcoa in Iceland. Alcoa has been hit by the global economic slowdown which has hurt demand and knocked prices for aluminium lower. Aluminum prices fell almost 20 percent in the third quarter on global economic concerns. Iceland's economy collapsed in...
SHFE aluminum dropped further in the afternoon on Monday, causing spot aluminum prices in south China to fall. Traded prices were dragged down by depressed downstream consumption to nearly RMB 16,900/mt. Despite bearish outlook, cargo holders were reluctantly to sell goods at low prices. There was a strong wait-and-see sentiment in the market and mainstream transactions were done at RMB 16,900-16,930/mt. Trading market was quiet in general on Monday.
With anaemic markets putting paid to big-bang market-led disinvestment plan for the year, the government is reworking its strategy to reach closer to its Budget target of Rs 40,000 crore from the sale of its share in public sector units. A couple of options are on the table, from buyback, cross-holding, selective public offers of only big companies to residual stake in companies with minority government ownership. The finance ministry is exploring the possibility of selling stake in companies where it is left with a minority share and selling further equity would not make much difference, such as Bharat Aluminium Co Ltd (Balco). Buyback of equity by cash-rich public sector undertakings is also being considered actively, as the government devises alternative plans to beat market blues. The...
China’s preliminary results from its inflation fight and a deadline for a bailout plan for the European debt crisis during the G20 summit eroded momentum of the US dollar index to return above 77 last Friday. However, LME aluminum only rose slightly during the day due to weaker Chinese demand compared with previous years. The metal finally closed below the 5-day moving average at USD 2,228/mt, up 0.97% from previous trading day. Total positions increased 5,550 lots to 849,184 lots. Though investors have become cautiously optimistic towards for the aluminum market, no significant changes are expected for the metal in the short term due to weak demand. As such, LME aluminum is expected to test the 5-day moving average and fluctuate between USD 2,200-2,230/mt during today’s trading. The most...
European aluminum premiums moved down on October 13th 2011 with duty paid metal sliding USD 5 per tonne as spot market demand dried up on a lack of clarity over end user demand. MB’s duty paid, high grade cash premium fell to USD 185 per tonne to USD 205 per tonne from USD 190 to USD 210, the latter being its record high and the level at which the premium has stood since April 27. A trader said that paid material, due to the uncertainty over the final market in Europe is starting to drift lower. Some consumers are knocking back demand leading to more material on the spot market and premiums are starting to soften. Aluminum has remained relatively robust in the face of growing economic uncertainty in the euro zone with contracted volumes still moving to consumers and prices holding up well...
Chalco Liancheng Branch was named “energy-saving advanced enterprise” by Gansu government and was awarded 120,000RMB. During the period of “Eleventh Five-Year Plan”, Chalco Liancheng Branch seriously implemented China’s energy saving and emission reduction policies. In order to establish ecological aluminum production, it took a series of measures such as technology transformation and management changes.During the “Eleventh Five-Year Plan”, the company saved 701,00 tons of coal, which exceeded the original target of 450,00 tons. It completed the energy-saving plan by 156%.
Rio Tinto will sell 13 aluminium units worldwide, including refineries and smelters in Australia, as the world's second-biggest miner seeks to streamline its Alcan aluminium business. Rio Tinto said in a statement today the moves were part of a streamlining of its aluminium group following a strategic review. A spokeswoman for Rio Tinto said the changes in Australia did not currently involve any job redundancies. "The formation of Pacific Aluminium doesn't involve any immediate changes to employees or roles of employees," she said. In early trade, Rio Tinto stock gained $1.86, or 2.7 per cent,going to $70.16, the highest since September 16. The cutbacks are the latest in a series of moves following Rio's badly timed $US39 billion acquisition of Alcan four years ago as it tries to boost...
The London Metal Exchange Friday said it has listed an aluminum alloy and North American special aluminum alloy brand for Spanish producer Alusigma S.A. The material will be produced at the company's Asturias plant, which has an annual capacity of 18,000 metric tons. Both will be available with immediate effect, the LME said.
Lowest ratio present the greatest value to investors. Alcoa (NYSE:AA) is lowest with a price to book ratio of 0.69. Alcoa Inc. produces primary aluminum, fabricated aluminum, and alumina, and participates in mining, refining, smelting, fabricating, and recycling. The Company serves customers worldwide primarily in the transportation, packaging, building, and industrial markets with both fabricated and finished products. Potential upside of 62.9% exists for Alcoa, based on a current level of $10.10 and analysts' average consensus price target of $16.45. The stock should find initial resistance at its 50-day moving average (MA) of $11.28 and further resistance at its 200-day MA of $15.09.
Supportive to copper prices were lower inventories of the metal at LME warehouses. Latest data showed stocks down 2,900 tonnes to 450,200 tonnes, still about a third higher since last December. Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.8 percent from Sept. 30, the exchange said on Friday. Aluminium stocks rose 51.4 percent. The rise in aluminium stocks followed months of steady declines since the start of the year, with inventories hitting an all-time low of around 77,000 tonnes on Sept. 30. Short-selling, a popular target in volatile and rumour-riddled markets, has been blamed by aluminium producer Alcoa's chief executive for a big fall in the price of the metal and with it the company's share price. Falling European aluminium premiums reflect...
North American aluminum orders jumped 7.6 percent in September compared with August, indicating a brightening in aluminum manufacturers’ views on the American economy, according to Davenport & Co. LLC research based on Aluminum Association data. "The rise in orders reflects a more positive outlook for the U.S. economy by aluminum manufacturers," Davenport said
Rio Tinto's aluminium output rose 4% in the third quarter against a return of cost pressures in the industry. The miner's share of aluminium production reached 962,000 tonnes, up 4% quarter-on-quarter and 2% higher year-on-year, driven by a resumption of normal production at Laterriere after a transformer failure. "Cost pressures are returning to the aluminium industry, including the effect of stronger currencies, and the higher costs of caustic, coke and pitch," Rio Tinto said. However, the miner is keeping its full-year output forecast unchanged at 3.9 million tonnes.
Physical demand is keeping aluminum prices supported, even as prices have retreated along with other commodities, said a metals consulting firm on Thursday. Prices have fallen with other commodity markets, but Jorge Vazquez, vice president of HARBOR Intelligence Aluminum, noted that prices for aluminum have not fallen to the same degree as other metals during the across-the-board market break in September. He attributes some speculative selling and a stronger U.S. dollar for the price weakness. Aluminum is trading around $2,200 a metric ton. He also noted that demand for aluminum continues to be strong in Asia. The demand for aluminum is likely to continue to rise, even with the problems facing Europe and its sovereign-debt crisis. He said demand from Asia, the U.S. and Brazil is still...
The EFSF expansion was approved by all members of the euro zone, but failed to provide further support in global markets. China’s September import and export data dropped both on a yearly and a month basis. Trade surplus stayed on the downward track and missed market expectations. The outlook for the fourth quarter is not optimistic. The US unemployment figure for the week ended October 8th came out at 404,000, signaling the employment pressure is still strong in the country. On Tuesday October 11th, the US Senate did not approve US President Obama’s job creation plan during their vote, which added to investor worries towards the global economy. Metals prices dropped as investors were cautious. LME aluminum successively dropped below the 5-day and the 10-day moving average overnight to...
Alcoa Inc expects global demand for aluminum to hold up into the Q4 despite a falling metal price and fears the global economy may slip back into recession. Mr Klaus Kleinfeld CEO of Alcoa said that Alcoa remains a confident company in a very nervous world. He thought the world was almost worrying itself into another recession. Mr Kleinfeld said that fears of slowing economic growth and speculative selling knocked prices for the industrial metal lower. The Pittsburgh based metal producer's earnings were lower than expected. But he thought sellers were on the wrong side of the trade. He reiterated the aluminum giant's 12% demand growth outlook for 2011 and estimated total consumption of 44.3 million.In 2010, global demand for the metal used in everything from construction, autos, aerospace...
In August,domestic prices of aluminum ingot metal fell sharply because of the overall metal and financial market bearish sentiment.Many market participants believe the recent fast rise in aluminum prices will actually give the market a callback opportunity. Aluminum ingot is still sought after and is a market driving force.In the case of cumulative decline, aluminum users are prepared to enter the market for purchases. SHFE aluminum funds continue to flee.Later in the month, aluminum makers’ orders finished at uneven levels.Although the aluminum market trend is still far from satisfactory, most market participants still have expectations of aluminum pricing displaying some growth which is mainly from the continued short supply of aluminum ingots.
According to China Customs,imports of unwrought aluminum and products totaled 66,163 tons in September, while exports of unwrought aluminum were at 60,715 tons. Import of copper alloy and products rose 12% to 380,526 tons from 340,398 tons in August.Scrap copper imports in September reached 420,000 tons which was higher than 380,000 tons in August.
