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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Global miner Rio Tinto is considering spinning off part of its Australian aluminum assets as planned as carbon would raise costs, the Australian Financial Review said on Monday. Rio has been working with Macquarie Group and PricewaterhouseCoopers to consider its options for the business. Rio's aluminum business in Australia is made up of three refineries, three smelters and two bauxite mines, the paper said, adding Rio would hold onto the mines as they offer the highest margins. Rio last week told investors it plans to achieve 40 percent earnings before interest, tax, depreciation and amortization margin from the aluminum business through the sale of two non-specified assets, the paper said. Rio Tinto officials could not be immediately reached for comment by Reuters.
Following the completion of 13 mega projects in Saudi Arabia, Samsung Engineering has won three new projects worth about $4 billion. Among these major projects in the Kingdom is an aluminum complex from Maaden, signaling the diversification of its traditional hydrocarbon business into the upstream, industrial and infrastructure sectors, according to H. P. Kong, Samsung Engineering’s executive vice president and chief marketing officer. Kong said Samsung Engineering had also developed its portfolio by entering into the metallurgy business through the award of the $1.2 billion aluminum smelter contract. He said Maaden Aluminum, a joint venture between Saudi Arabia’s national mining company Maaden and the US-based Alcoa, has awarded the aluminum rolling mill, casthouse and port facility...
Panic asset selling continued on September 23rd, with LME aluminum hitting USD 2,187/mt, a new yearly low, at the tail of Asian trading hours. The metal fluctuated upward during European trading hours due to profit-taking in the US dollar, and finally closed at USD 2,204.8/mt, down USD 19.3/mt or 0.87% from previous trading day. LME aluminum opened higher at USD 2,220/mt today, and is expected to fluctuate between USD 2,180-2,230/mt during the day. Most active SHFE 1112 aluminum contract is expected to open lower at RMB 16,400/mt and fluctuate between RMB 16,200-16,450/mt. Spot aluminum price is expected to struggle at RMB 17,000/mt, with premiums of RMB 130-180/mt over SHFE current-month aluminum price. Downstream processors are expected to stock up as needed this week, but actual...
Faced with further cut in power supply, the National Aluminium Company (Nalco) has shut down another 60 aluminium making pots at its smelter plant here. With this, a total of 120 pots have now gone out of operation out of 960 pots in the smelter plant. The company had shut down 60 pots two weeks back due to power problems. As a result, aluminium production of the company has gone down to 1,050 tonne per day from the normal level of more than 1,200 tonne, said a company source. In money terms, the loss is estimated at Rs two crore per day. Currently the aluminium major is facing shortage of 200 Mw power as the captive power plant (CPP) of the company, located close to its smelter plant at Angul, is receiving 2,000 tonne less coal per day compared to the normal offtake. “While we need about...
Hindalco Industries plans to invest Rs 10,000 crore this fiscal in its ongoing projects Mahan Aluminium in Madhya Pradesh, Aditya Alumina and Aluminium and Utkal Alumina in Orissa. Hindalco has cash reserves of Rs 29,504 crore as on March 31, 2011. Replying to shareholders' query on the delay in commissioning of Mahan Aluminium and Aditya Alumina, Mr Kumar Mangalam Birla, Chairman, Hindalco Industries, said it was due to the delay in obtaining environment clearances and procuring land. Availability of skilled and semi-skilled labour was also an issue, he said at the company's 52nd annual general meeting on Friday. Mr Birla assured the investors that the Mahan Coal Block would soon get the green signal soon with the Government deciding to scrap the concept of ‘go and no go' zones. At...
Having reached full operational capacity,aluminium smelter Qatalum is now looking to create “a future of opportunities for the community and become a sustainable economic catalyst that will help drive the country’s continued growth,” according to deputy CEO Khalid Laram. “We are right now discussing and thinking of (supporting and assisting with) building factories and production facilities that are based on aluminium, in cooperation with Qatar Petroleum,” Laram said at a press conference held at Qatalum’s Mesaieed plant yesterday. “We have in mind many projects and ideas in Qatar for the future, that’s why we always declare we are ready to help in anyway we can.” With a total production of 585,000 tonnes per year, the joint venture between Qatar Petroleum and Hydro, has reached the end...
Even as concerns of a Chinese slowdown dominate markets, August data shows that Chinese primary aluminium imports rose a staggering 55% month-on-month in August at 11.7 Kt. Aluminium imports rose by 55% to 11.7Kt and exports of aluminum declined to 1.9 Kt making China a net-importer of the mental for August. Most of the aluminium exported from China goes to Japan, which is in the midst of an infrastructure reconstruction drive post the March Earthquake.
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. With the cuts, the producer now expects to reach an overall actual output of about 370,000 mt in 2011 from its two plants combined, which is in line with output in 2010, but down from an...
Most active SHFE 1112 aluminum contract gapped lower by over 2% today at RMB 16,705/mt due to plunges in global financial markets overnight. The contract slipped slightly in the morning, and fell to a stop in the afternoon with other base metals contracts 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. The contract finally closed 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 16,200/mt in the short term as investor...
SHFE aluminum soon fell to a stop after its afternoon opening on September 23rd. Though it resumed trading later, its loss was maintained near 4%, and spot aluminum market in South China turned quiet as a result. Transactions were slightly active before the afternoon opening as downstream buyers stocked up before the weekend. After SHFE metals fell to tops, goods holders became unwilling to move their goods due to limited supply, and most downstream buyers exited the market being bearish towards future aluminum prices. Market transactions were extremely limited as a result.
Traded prices of spot aluminum in Shanghai were between RMB 17,050-17,090/mt on September 23rd, with premiums of RMB 80-150/mt over SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,100-17,140/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,040-17,080/mt. Most active SHFE aluminum contract gapped lower by over 2% this morning, and SMM aluminum price plunged by RMB 450/mt in response. SHFE current-month aluminum price temporarily climbed to RMB 17,000/mt, which helped mainstream price gain, narrowing spot premiums over the contract to within RMB 100/mt. The wait-and-see sentiment was strong among both suppliers and buyers. Only traders with sufficient capital moved goods at lower prices, which attracted some downstream enterprises to build up...
Aluminum Corporation of China closed Wednesday's unfavorable trading session at $12.64. In the past year, the stock has hit a 52-week low of $12.64 and 52-week high of $26.80. Aluminum Corporation of China (ACH) stock has been showing support around $12.18 and resistance in the $13.56 range. Technical indicators for the stock are Bearish. For a hedged play on Aluminum Corporation of China (ACH), look at the May '12 $11.00 covered call for a net debit in the $9.84 area. That is also the break-even stock price for this trade. This covered call has a duration of 240 days, provides 22.15% downside protection and an assigned return rate of 11.79% for an annualized return rate of 17.93% (for comparison purposes only). Aluminum Corporation of China (ACH) has a current annual dividend yield of...
Most active SHFE aluminum contract was changed to 1112 on September 22nd, and opened lower at RMB 17,005/mt in the morning. The contract dropped to an intraday low of RMB 16,860/mt later due to falling stock prices and strengthening US dollar, and finally closed at RMB 16,980/mt, down RMB 120/mt or 0.7% from previous trading day. Positions of the contract increased 8,822 lots to 107,680 lots. SMM expects SHFE aluminum prices to maintain a downward trend in the short term given strengthening US dollar and worsening debt issues in Europe. Traded prices of spot aluminum in Shanghai were between RMB 17,500-17,540/mt on September 22nd, with premiums of RMB 120-160/mt over SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,580-17,620/mt. Traded prices of spot...
Kizad plans Asia offices; phase 1 to be completed end-2012 Abu Dhabi's mammoth new industrial zone is wooing investors from Asia to set up shop and help the emirate diversify its economy away from oil, its top official said. Khalifa Industrial Zone Abu Dhabi (Kizad) at Taweelah, midway between Abu Dhabi and Dubai, spans an area of 421 square km (two-thirds the size of Singapore), and is the largest industrial area in the United Arab Emirates. Earlier this year, Kizad held roadshows, launching in three Asian economic giants -- India, China and South Korea, as well as in Germany.He added that Kizad plans to open offices in these countries, starting soon with India. Emirates Aluminium (Emal) is the first and anchor tenant.The agreements with private and government firms relate to projects in...
Investors sold off their assets in panic overnight due to weak manufacturing data and debt aid discrepancies in Europe and disappointing jobs data and pessimistic Fed economic remarks in the US, with the US dollar index climbing to an intraday high of 78.798 and LME aluminum plunging with commodities to USD 2,224/mt, down USD 106/mt or 4.55%. Total positions of LME aluminum contract decreased 5,401 lots to 747,719 lots. SMM expects LME aluminum to see a slight rebound today following the plunge overnight, but may still move downward due to a generally bearish environment. The fluctuation range today is expected to be USD 2,200-2,260/mt. Most active SHFE 1112 aluminum contract is expected to gap lower below RMB 16,800/mt and fluctuate between RMB 16,600-16,850/mt as rebound is not likely...
Shareholders in Aluminerie Alouette are considering increasing the Quebec-based aluminum smelter’s capacity by 56 percent in the next five to 10 years, market sources told AMM. The discussions are taking place as government-owned Albecour Inc., one of the smelter’s founding partners, negotiates to sell half its stake in the plant to fellow shareholder.
Aluminium products developer Constellium plans to inaugurate two new foundries in Issoire and Voreppe, in France, during the last quarter of this year to increase production of its Airware technology, which comprises a range of complementary, high-performance and low-density alloys that are suited for use in all parts of an aircraft’s primary structure. The company launched the Airware technology, which is aimed at reducing the weight of aircraft structures and lowering assembly and maintenance costs, in July last year. The technology is expected to improve the aerospace industry’s efficiency and reduce its overall environmental footprint, as the alloys are 100% recyclable and can result in a 20% reduction in the weight of primary aircraft parts. “With Airware, we are the first to launch...
Several tenders and enquiries for imported spot thermal coal about to be awarded by Indian end-users are expected to show low prices due to the high levels of stocks at ports, Indian traders said. India has over 12 million tonnes of thermal coal in stockpiles at its dozen or so coal importing terminals, of which at least 7-8 million are unsold, major Indian trade importers said last week. India's Vedanta is seeking two cargoes of 5,500 kc/kg Gross Air Dried coal, either Indonesian or low-grade South African, for prompt shipment. Vedanta has received offers but has not yet awarded, traders said. National Aluminium Corporation (Nalco) has tendered for around 200,000 tonnes of spot coal while Hindalco is seeking one cargo of South African.
