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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Most active SHFE 1111 aluminum contract opened lower at RMB 17,120/mt on September 20th and stabilized in the morning following a plunge during previous trading day. The contract hit an intraday high of RMB 17,225/mt in the afternoon, but fluctuated downward later due to strong resistance at the 5-day moving average above. Finally closed price of the contract was RMB 17,190/mt, up RMB 15/mt or 0.09% from previous trading day. Positions of the contract decreased 2,654 lots to 108,896 lots, and transaction volume of SHFE 1112 aluminum contract topped all other contracts. Most active SHFE aluminum contract consolidated at RMB 17,100/mt today and showed more stability compared with other base metals. If the most active contract is changed into SHFE 1112 contract and meets strong resistance at...
Base metals remained weak on Tuesday. Latest global economic outlook report by IMF lowered US economic growth forecast. US President Obama’s USD 447 billion job plan and USD 3 trillion deficit cut plan will not provide significant confidence for the market in the short term. Market focus will be whether the ongoing Fed interest rate meeting will provide an economic stimulus plan. Investors are cautious at present with so much breaking news. LME aluminum opened at USD 2,343/mt on September 20th, and closed at USD 2,339/mt after hitting an intraday low of USD 2,323/mt on IMF’s lowering down global economic growth forecast and investor worries towards continuation of the euro zone debt crisis. SMM expects LME aluminum to fluctuate between USD 2,320-2,350/mt today. Most active SHFE 1111...
Total world aluminum production in August rose by 9,000 metric tons on the month to 2.184 million tons, according to figures released Tuesday by the International Aluminum Institute. World production in July stood at 2.175 million tons. August production was up 123,000 tons compared with the same month of 2010, when output was recorded at 2.061 million tons, the IAI said.
Aluminum shipments from US metals service centers in August showed improvement from both a year ago and the prior month, according to the monthly activity report from the Metals Service Center Institute. A total of 135,900 st of aluminum products were shipped by US service centers in August, an increase of 7.3% from the same month in 2010. It was also an increase of 15.6% from 117,500 st in July. For 2011 year-to-date, aluminum shipments were 1.0 million st, an increase of 18.2% from the same period in 2010. Inventories of aluminum products were 360,800 st at the end of August 2011, an increase of 11.9% from August a year ago and an increase of 1.9% from last month. At the current shipping rate, this represents 2.7 months of supply, according to MSCI.
GEELONG Trades Hall has forewarned that aluminium giant Alcoa will inevitably close its Victorian operations. But the dire prediction has divided the union movement, with the Australian Workers Union labelling the comments as misguided. It comes as Alcoa failed to guarantee its future in the region, with the company confirming it was working through the challenges facing the energy-hungry smelters in Point Henry and Portland. Alcoa's head of climate strategy Tim McAuliffe told a Senate inquiry into the carbon tax that the strong Australian dollar, high input costs and uncertainty over the true cost of the carbon tax threatened the future viability of both the Victorian aluminium smelters. The company issued a broad statement yesterday, saying the outlook for aluminium remained positive...
Emirates Aluminium (Emal) has awarded South Korea's Samsung C&T Corp a $579.3-million (Dh2.12 billion) a contract to build a thermal plant, the UAE aluminium manufacturer confirmed to Gulf News yesterday. The contract will continue until June 2014, Samsung said in a statement. It was signed on Monday. Last month, Emal awarded more than $700 million in contracts as work begins on the expansion of Phase Two of its Al Taweelah smelter. Emal's sales reached 491,000 metric tonnes a year to date, up from 127,000 metric tonnes in the same period last year, Emal told Gulf News. Business to the US alone, which buys 17 per cent of Emal's production, is expected to exceed $350 million this year, it said in an e-mailed response. "We have secured deals with US companies, it's a big market although the...
Most active SHFE 1111 aluminum contract opened lower at RMB 17,120/mt on September 20th, and stabilized in the morning following a plunge during previous trading day. The contract hit an intraday high of RMB 17,225/mt in the afternoon, but fluctuated downward later due to strong resistance at the 5-day moving average above. Finally closed price of the contract was RMB 17,190/mt, up RMB 15/mt or 0.09% from previous trading day. Positions of the contract decreased 2,654 lots to 108,896 lots, and transaction volume of SHFE 1112 aluminum contract topped all other contracts. Most active SHFE aluminum contract consolidated at RMB 17,100/mt today and showed more stability compared with other base metals. If the most active contract was changed into 1112 and meets strong resistance at the moving...
Mounting capital pressure at downstream processors as the month-end approaches, downstream consumption is not likely to improve. Stabilizing SHFE aluminum prices, on the other side, led to low-selling interest at lower prices among goods holders. However, a few traders with high capital pressure moved goods at lower prices, which dragged mainstream traded prices to RMB 17,530-17,560/mt. Market transactions remained limited.
Traded prices of spot aluminum in Shanghai were between RMB 17,470-17,510/mt on September 20th, with premiums of RMB 120-160/mt over SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,560-17,600/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,450-17,490/mt. The wait-and-see attitude prevailed in the spot aluminum market after SHFE aluminum price stabilized following a plunge during previous trading day. Except for a few value-retaining transactions and selling at lower prices among traders with high capital pressure, most spot aluminum traders were holding goods. Meanwhile, buying interest at lower prices downstream did not improve either due to fluctuating prices and capital pressure, thereby dragging down mainstream trading price to below the...
A major buyer agreed that concerns over international demand for finished products were the main factor weighing on the fourth-quarter charges, rather than domestic aluminum demand. "Consumer demand is good in the domestic market," he said, but confirmed that his company had settled its contracts at $118-119/ton, with the bulk of volume set at $118/ton. Some producers had been holding out for premiums at $120/ton basis cost, insurance and freight, but they agreed to $119/ton shortly before the Sept. 15 shipping deadline, due to continuing volatility in Europe and the U.S. "Europe is a bit soft," a London-based aluminum trader said, adding that he expects duty-paid aluminum premiums to fall slightly in Europe near term in line with slackening demand. Despite concerns over a decline in...
Today, shares of Century Aluminum (NASDAQ:CENX) have fallen below their 10-day MA of $11.18 on a volume of 379K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term. Century Aluminum share prices have moved between a 52-week high of $20.76 and a 52-week low of $8.72 and are now trading 26% above that low price at $11.03 per share. The 200-day and 50-day moving averages have moved 0.48% lower and 3.8% lower over the past week, respectively. A 31.8% potential upside exists for Century Aluminum, based on a current level of $11.13 and analysts' average consensus price target of $14.67. The stock should run into initial resistance at its 50-day moving average (MA) of $12.04 and subsequent resistance at its 200-day...
Shares of Alcoa (NYSE:AA) have crossed bearishly below their 10-day moving average of $11.80 on a volume of 8.5 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term. In the past 52 weeks, shares of Alcoa have traded between a low of $10.99 and a high of $18.47 and are now at $11.51, which is 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.3% while the 200-day MA has slid 0.2%. Alcoa has overhead space with shares priced $11.57, or 29.7% below the average consensus analyst price target of $16.45. Alcoa shares should first meet resistance at the 50-day moving average (MA) of $13.27 and find additional resistance at the 200-day MA of $15.52.
SmarTrend identified a Downtrend for Alumina (NYSE:AWC - Snapshot Report) on August 04, 2011 at $8.13. In approximately 2 months since that trend was identified, Alumina has fallen 24.1% as of today's recent price of $6.17. In the past 52 weeks, shares of Alumina have traded between a low of $6.15 and a high of $11.46 and are now at $6.17, which is 0% above that low price. Alumina is currently below its 50-day moving average of $8.05 and below its 200-day moving average of $9.27. Look for these moving averages to decline to confirm the company's downward momentum.
Russia's aluminum output fell by 2.4% in January-August compared with the same months of 2010, the federal statistics service said Monday. The federal statistics service does not give output of non-ferrous metals in tonnages,and gives only the percentage change.
Most active SHFE 1111 aluminum contract gapped lower at RMB 17,100/mt on September 19th due to aggressive short selling, and climbed to an intraday high of RMB 17,290/mt during initial trading hours on profit taking by the shorts. After the longs were forced to exit due to worries towards a downgrade on Italy debt by the credit rating agency Moody’s, the contract lost previous firm support at RMB 17,200/mt, and continued its downward move to finally close at RMB 17,105/mt, down RMB 25/mt or 1.44%. Positions of the contract decreased 4,284 lots to 111,514 lots. Position transfer to SHFE 1112 the next most active contract also continued. As aluminum consumption failed to improve as expected, SHFE aluminum plunged with other base metals, among which copper and zinc created yearly record...
Emirates Aluminium (Emal) is securing deals in the US and Far East to export its products, but will continue to honour its commitments in the Middle East despite the political turmoil in some countries, its president and chief executive told Gulf News. "Emal doesn't look at the business model for one or two years, we look at the long term return on investment ... In Syria, we are looking at the situation and we continue to supply customers. Whatever commitment we have we will continue to support that because we have a contract," said Saeed Al Mazroui. Around 90 per cent of Emal's production is exported to 280 companies in more than 35 countries, he added. "We are looking at opportunities outside the region." "We have secured deals with US companies, it's a big market although the growth...
It is not a day too soon that Prime Minister Manmohan Singh felt the need to involve himself in sorting ministerial differences on implementation of major infrastructure and industry-related projects. With such projects not getting commissioned on schedule, the 12th Plan (2012-17) growth target of nine per cent annually will remain elusive. Delays in implementation of projects of size are of national concern. The Aditya Birla Group’s flagship Hindalco Industries is simultaneously executing five new projects, three smelters and two alumina refineries. All are located in remote parts, where bauxite and coal are found. On their completion, the company will have annual alumina refining capacity of six mt and aluminium smelting capacity of 1.7 mt. The country will need all this extra aluminium...
A lack of breakthrough from European finance ministers on Greek aid, a downgrade of Italy debt rating to a negative outlook and a weaker than expected September house market index in the US all added to the bearish sentiment among investors overnight, with stock and base metals prices plunging and the US dollar index, in the contrary, surging 1.03% to finally close at 77.358. LME aluminum hit a new yearly low of USD 2,320/mt overnight with transactions doubling to 14,245 lots. As Greek officials were to meet their major debtors today, considering inspiring results from previous meeting, investors attached high expectation to this meeting, thereby weakening risk aversion demand. As a result, LME aluminum narrowed its loss to finally close at USD 2,343/mt, down USD 32/mt or 1.35% from...
