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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Traded prices of spot aluminum in Shanghai were between RMB 17,110-17,150/mt on September 28th, with premiums of RMB 180-200/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,180-17,220/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,100-17,130/mt. Stock building before the coming National Day holiday has already ended, therefore inquiries and purchases were rarely seen. With the SHFE current-month aluminum contract struggling at RMB 17,000/mt and spot aluminum inventories staying at low levels, the wait-and-see sentiment gained strength among goods holders, keeping spot premiums over the SHFE current-month aluminum price near RMB 200/mt. Market transactions were sparse during the day as sellers and buyers argued over prices.
Products from Qatalum, the largest aluminium plant ever built in one phase, makes it possible to serve new customers in South America, as well as offering primary foundry alloys to a growing number of U.S. customers. “We are now positioning Hydro for further growth in North and South America,” says Kjetil Ebbesberg, head of Hydro’s Metal Markets business area, which is responsible for marketing metal from Qatalum.
Azerbaijan exported aluminum worth $3,303,000 in January-August. According to sources in the State Customs Committee, compared to the same period of the last year, the aluminum export in price equivalent has increased by 78.67% or $1.356m. The share of export of aluminum and aluminum wares in the total export of the country made up 0.02% as of 1 September. Aluminum export made up 3,807.3 tonnes worth $2,683,900 in 2010. Export has dropped by 71.7% over 2009.
LME aluminium is firm on a downtrend, and the current rebound is expected to end around $2,248 per tonne. The downtrend started at the Sept 16 high of $2,403.75 in a five-wave mode, and the wave (3) is yet to be completed, as so far only four of its five waves have unfolded.
India's aluminum output in the April-August period rose 6.7% from a year earlier to 696,745 metric tons, data from the mines ministry showed Tuesday. The ministry didn't give any reason for the rise in aluminum production.
The active efforts by European leaders to seek solutions for a highly possible default by Greece helped calm investors overnight. Though later announced September Consumer Confidence Index in the US missed market expectation and indicated difficulties for consumer market to improve, the US dollar index was still dragged to an intraday low of 77.394 overnight. The index slightly rebounded at the tail of trading, but resistance at the 5-day moving average above was strong. Supported by the drop in the US dollar index, LME aluminum broke through the 5-day moving average overnight and hit an intraday high of USD 2,256/mt before finally closing at USD 2,251.8/mt, up USD 39.8/mt or 1.8%. Positions for the metal increased 5,820 lots to 783,608 lots. SMM expects LME aluminum to test the 5-day...
It is reported that China Nonferrous Metal Industry Foreign Engineering and Construction signed contracts worth CNY 5.959 billion to build an aluminum plant for Iran Khuzestan Aluminum Company. NFC will build a 175,000 tonne aluminum plant for Khuzestan Aluminum and will also offer engineering design, equipment procurement, construction, equipment installation, testing and staff training services. The Tehran based aluminum manufacturer will pay 15% of the contract amount to NFC as a prepayment. The remaining sum will be paid as construction progresses and the plant will be completed over a 42 month period. The contract also stipulates that Khuzestan Aluminum must sign a financing agreement with a mainland Chinese bank and provide a letter of credit to NFC. The latter said it is uncertain...
Venezuela's state aluminium smelter Venalum is hoping for gradual but sustained improvement in production after being badly hit by a power crisis and low prices. Mr Rada Gamluch president of Venezula said that production sank to 258,000 tonnes last year from a capacity of 430,000 tonnes and output of 355,000 tonnes in 2009. But it should rise to 270,000 tonnes this year.
India's state run National Aluminium Company Limited has issued a tender to export 9,000 tonnes of aluminium ingots. Mr Ansuman Das commercial director of Nalco said that the last date for submission of bids is Sept. 28. The metal would be shipped in 6 batches of 1,500 tonnes each from October to March. NALCO, whose tenders serve as a global benchmark last on September 8th 2011 sold 7,500 tonnes of aluminium ingots at nearly USD 102 per tonne premium over the average LME cash price on a cost insurance and freight basis.
Investor's hopes on the European policy makers to come out with a credible plan to cut Greece debts and recapitalize banks led the metals to rebound form steep losses but the uncertainties at the moment are cramping the metals to trade at higher levels. Also, ECB is planning for meeting in the next week to revive its interest rates to shore up the economy also added to the optimism. Faltering dollar capping the gains. Meanwhile, the investor's were awaited for forthcoming economic data from US on Tuesday such as the Fed Midwest Manufacturing Index for August, the S&P Case/Shiller Home Price Index for July, September consumer confidence, as well as the Federal Reserve Bank of Richmond's September indexes on area manufacturing and service sectors. The dollar index edged up by 0.08% at 78.05...
State-run aluminium producer NALCO is facing a production loss of about Rs 1 crore per day due to coal shortage, a company official said on Monday. "We are losing about Rs 1 crore per day due to coal shortage ... the production has to be scaled down as there has been very less availability of coal from Mahanadi Coalfields Ltd (MCL)," the official said. The company has cut down its daily production to 1,000 tonnes against the normal rate of output at 1,200 tonnes at the Angul smelter unit in Orissa due to coal shortage. National Aluminium Company's (NALCO) smelter produces approximately 37,000 tonnes of metal per month and runs on power supplied by captive power plant unit, having a total production capacity of about 1,200 MW. However, the official added that due to less availability of...
Montana Senators Jon Tester and Max Baucus spoke this week with the Bonneville Power Association about finalizing a deal with the Columbia Falls Aluminum Plant so that the plant can begin operating again. A power purchase agreement between the BPA and CFAC would supply the plant with 140-megawatts of power. That would be enough electricity to fire two of the five pot-lines for 4½ years.
Traded prices of spot aluminum in Shanghai were between RMB 16,980-17,020/mt on September 26th, with premiums of RMB 180-200/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,020-17,050/mt. Traded prices of spot aluminum in Wuxi were between RMB 16,980-17,020/mt. SHFE aluminum prices stagnated today within narrowed ranges, with the SHFE current-month aluminum price struggling at RMB 16,800/mt. As goods holders were confident for the RMB 17,000/mt mark, spot premiums quickly rebounded to near RMB 200/mt over the SHFE current-month aluminum price. Stock building was seen during this last week before the National Day holiday. However, due to capital pressure at quarter’s end, purchases were only made for the small volumes of goods supplied at prices...
LME aluminum prices kept dropping in the afternoon and again fell below USD 2,200/mt, pulling SHFE aluminum prices down after its afternoon opening. Downstream buyers in south China exited the market and were on the sidelines due to the intensified bearish mood, left only a low trading volume before afternoon. Meanwhile the goods holders were reluctant to sell goods at lower prices for limited supply, with main transactions traded at RMB 17,030-17,060/mt. In general, caution reigned across the whole market.
China's Guangxi Yinhai Aluminium has slashed its total primary smelting capacity of 450,000 mt/year by about 190,000 mt/year on the back of prevailing power shortages, a company source said Friday. The South Central Chinese producer had cut capacity by 50% at its 200,000 mt/year plant in Baise city by September 18, which was then followed by a near 40% cutback at its 250,000 mt/year plant in Laibin city. The producer had received notice of power cuts in August, and started gradually shutting down potlines in mid-September, after orders were issued by the government last week to effect the cutbacks.
The London Metal Exchange, the world's top market for industrial metals such as copper and aluminum, is considering selling itself after receiving bid approaches. The LME, which is owned by the trading houses and banks that use the market, said it was being advised by investment bank Moelis & Company, but declined to identify its suitors. "The London Metal Exchange (LME) has received several expressions of interest with regard to potential strategic transactions," a statement said.
The domestic aluminium operations with better margins will be the key driver for both sales and profit growth. Investors with a long-term perspective can consider buying shares in aluminium major, Hindalco Industries, despite upheavals in the global economy and the likely pressure on commodity prices. The company's integrated domestic aluminium business and the much-improved global operations (Novelis) have the potential to weather the ongoing storm in aluminium prices more effectively than global peers. A 25 per cent slide in the stock's price in a span of six months has Hindalco trading at Rs 134 (P/E 10.8 times consolidated FY11). This is at a discount to domestic peer, Nalco (P/E 15.6). Also, given its superior margins and large expansion plans, Hindalco's EV/EBIDTA of 6.5 times...
Most active SHFE 1112 aluminum contract gapped lower by over 2% at RMB 16,705/mt on September 23rd due to plunges in global financial markets overnight. The contract slipped slightly in the morning, and fell to a stop with other base metals contracts in the afternoon due to an inrush of short capital. It repeated trading resumptions and stops during following trading hours, but rebounded slightly at the tail of trading on profit-taking by the shorts to finally close at RMB 16,495/mt, down RMB 495/mt or 2.91% from previous trading day. Positions of the contract increased hugely by 13,600 lots to 121,280 lots. Transaction volume of the contract also climbed to over 170,000 lots during the day. SMM expects most active SHFE aluminum contract to test RMB 16,000/mt in the short term. Latest...
