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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Alcoa AA +0.58% today announced that it has earned a spot on the 2011 InformationWeek 500, an annual listing of the nation's most innovative users of business technology. Alcoa was recognized for innovative use of IT business analytics that helped the company achieve cost reductions during the economic downturn in 2009, and for designing a new suite of mobile equipment for executive management that resulted in productivity increases with very little incremental cost over standard mobile configurations. The IT business analytics enabled the company's procurement organization to quickly identify spend reductions, and consolidation and optimization opportunities supporting Alcoa's cost reduction objectives. The group also developed an inventory management solution that drove significant...
After opening slightly lower at RMB 17,300/mt, most active SHFE 1111 aluminum contract climbed slightly to an intraday high of RMB 17,385/mt in the morning with weakening short momentum and longs entering the market at lower prices. In the afternoon, after Shanghai Composite Index erased earlier gains, the contract also dipped on profit-taking by the longs, and finally closed at RMB 17,335/mt, up RMB 15/mt or 0.09% from previous trading day. Positions of the contract decreased 298 lots to 119,556 lots. SMM expects the contract to struggle at the 20-day moving average in the short term due to coming standoff between weakening shorts and strengthening longs. Traded prices of spot aluminum in Shanghai were between RMB 17,650-17,690/mt on September 15th, with discounts of RMB 0-50/mt over...
United Co. Rusal expects to save about $120 million in interest payments after completing debt refinancing talks this month, Deputy Chief Executive Officer Oleg Mukhamedshin said. Rusal, the world’s biggest aluminum maker, is “on track” to complete debt refinancing with all its lenders by the end of September, which will cut the overall debt cost, Mukhamedshin said today in an interview with Linzie Janis on Bloomberg Television’s “Countdown.” “The overall cost of our debt post refinancing will be slightly above 4 percent per annum,” Mukhamedshin said. “And we expect about $120 million of savings on the interest rate in the next 12 months.”
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,385/mt on September 16th. After hitting an intraday high of RMB 17,405/mt at the beginning of trading, the contract quickly slipped on profit taking by the longs with positions dropping by 3,758 lots, and finally closed at RMB 17,350/mt, up RMB 10/mt or 0.06% from previous trading day. We also noticed a position increase of 3,284 lots for SHFE 1112 aluminum contract which is to become the most active one. Market transactions contracted to only 16,000 lots as investors were cautious after SHFE aluminum showed signs of stagnation. Given strong resistance at the RMB 17,400/mt mark, SMM expects most active SHFE aluminum contract to stay below the level without enough upward momentum.
After most active SHFE aluminum contract trimmed gains from a higher opening on profit-taking by the longs, spot aluminum price in South China slightly dipped in response. Mainstream traded prices in the region were between RMB 17,730-17,760/mt. Goods holders’ selling interest turned low after spot price failed to return to the RMB 17,800/mt mark, and market transactions were rare despite purchases for stock building before the week ends.
Traded prices of spot aluminum in Shanghai were between RMB 17,650-17,680/mt, with premiums of RMB 130-150/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,730-17,750/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,620-17,660/mt. Spot aluminum price stagnated at the low-end after SHFE current-month aluminum contract erased gains from a higher opening. After SHFE 1110 aluminum contract became the current-month contract, goods holders’ confidence for support at RMB 17,500/mt was relatively strong, with spot premiums held steady above RMB 100/mt. Stabilizing spot price at the low-end also attracted purchases from some downstream buyers to build up their stocks. Market transactions slightly improved from previous trading day.
Russian aluminum giant UC RUSAL plans to launch production at the Boguchansky and Taishet aluminum smelters in 2013, the press office of the Baikal economic forum said Thursday citing Artyom Volynets, CEO of En+ Group, which is a major shareholder of RUSAL. After the launch of the plants, RUSAL’s total production capacity is expected to increase to 5.5 million tonnes of aluminum from the current 4.1 million tonnes. The production capacity of the first stage of Taishet smelter in the Irkutsk Region is to amount to 375,000 tonnes, while the annual designed capacity amounts to 750,000 tonnes. RUSAL has already invested $585 million into the construction of the plant and is to invest $1.187 billion more. The production capacity of the first stage of Boguchansky smelter in the Krasnoyarsk...
National Aluminium Company Limited has informed the Exchange that "Shri G.P. Joshi and Shri S.S. Khurana have been appointed as Part-time Non-official Directors of the Company vide Order F. No.2(2)/2010-Met.l dated 15.09.2011 of Ministry of Mines, Government of India".
The employees of National Aluminium Company Limited (NALCO), a Navratna PSU under Ministry of Mines, Govt of India have urged the Centre to come up with a comprehensive plan to stop the recurrence of coal crisis in NALCO. N.K. Samal, the Working President of NALCO Employees’ Sangha (INTUC), Recognized Union, Smelter Unit, in an appeal to the Prime Minister, Ministry of Coal, Ministry of Mines and Railways authorities, has sought immediate action to optimize coal supply to NALCO.
Reportstack, the provider of premium market research reports has announced the addition of 'Aluminum in Australia' market report to its offering. Aluminum in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2006-10, and forecast to 2015). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Australia aluminum market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information. The Australian aluminum industry had total revenues of $4.4 billion in 2010, representing a compound annual rate...
The US Department of Labor said on September 15th that August Consumer Price Index rose 0.4 percent from previous month with a growth doubling estimates, indicating speeding up inflation. New unemployment claims during the week ended on September 10th surged unexpectedly to 428,000. Later announced August industrial production rose 0.2% MoM, but was far less than the 0.9% growth in July, indicating stagnation in this sector. These all reflected a weak US economy. The statement by the Federal Reserve and central banks of Europe, England, Japan and Switzerland to give European banks ample access to dollars eased concerns about ripple effects of Greece's debt crisis, thereby boosting investor appetite with US stock prices closing higher on a fourth day and the US dollar index falling 0.73%...
Suddenly, in April a significant decrease in the offers has been noticed in the Benelux and in the rest of Europe. Were they preliminary signs of a worldwide economic recession? The offers and demands for nonferrous items were significantly weaker during the summer holiday. On top of that, it was seriously hit during the first half of August due to the economic recession. The question is now: in one way or another, will the base metals see a seasonal lift of activity during autumn, traditionally, a period of year that should see post-holiday demand reinforced by restocking? Due to the continuous increase of the stocks of primary material, the LME aluminium quotation dropped significantly during the summer period. There is definitely not enough physical off-take for that flow and,...
LME aluminium is neutral in a range of $2,345-$2,397 per tonne and an escape is needed to evaluate its next direction. A rise above $2,397 will confirm a bottom that formed around $2,330, pointing to an immediate target at $2,438, a presumed wave "B" peak. While a fall below $2,345 will be very bearish, as that could signal the resumption of a short-term downtrend that started from the Sept. 1 high of $2,476, with a target as low as $2,267.
Alterra Power Corp. (TSX: AXY) ("Alterra") is pleased to announce that an operating permit has been received for its planned 80 MW expansion of the Reykjanes geothermal power plant in Iceland. The permit formally allows Alterra to install and place into service a new, currently-owned 50 MW turbine, as well as a 30 MW low pressure turbine that will be powered from existing steam production. Separately, Alterra is continuing its effort to finalize power purchase arrangements with aluminum smelter Norðurál Helguvík sf. (a subsidiary of Century Aluminum Co., "Norðurál") and other industrial power purchasers. Results from a pending arbitration related to a prior power purchase agreement with Norðurál are expected this fall. Júlíus Jónsson, CEO of Alterra's Icelandic subsidiary, HS Orka hf ("HS...
LME aluminium will fall to the Monday low of $2,333 per tonne, as a downward wave "A" is advancing. This wave is part of a double zig-zag pattern which has been developing from the Sept 1 high of $2,476, and will be completed after the development of six waves labeled "A-B-C-X-A-B-C". A rebound from the current level will be limited to $2,390.
Alcoa Inc. said it will have to reevaluate its plans to build an aluminum smelter near Husavik, north Iceland, following a statement by the country’s Industry Minister Katrin Juliusdottir indicating she didn’t think the smelter would be built in the next few years. The smelter would require a large source of electricity, and Hordur Arnarsson, chief executive officer of Landsvirkjun hf, Iceland’s largest producer of electricity, has said Alcoa’s plans are unlikely to materialize because of the power supplier’s commitments to other power-intensive industries. The minister’s comments indicate that energy policy in Iceland’s north has “taken a new direction. In light of this we will evaluate the impact on Alcoa and the possible investment” in the area, Alcoa said in the statement. Iceland’s...
After credit rating agency Moody’s downgraded two large French banks on September 14th, market worries towards the European debt crisis further grew. This was followed by EU Committee President Barroso’s remarks to speed up introduction of euro zone bonds in a bid to comfort investors. Meanwhile, relatively weak industrial production data in the euro zone and US CPI and retail sales data also made it hard for market confidence to improve. As a result, the US dollar index closed 0.27% lower at 76.852. LME base metals, however, generally closed lower despite the weakening US dollar. LME aluminum continued its fluctuation within a narrow-range overnight, and showed more stability compared with other base metals with a slight USD 8/mt or 0.34% loss being reported before closing at USD...
For the aluminum metal,companies have a very positive view mid- to long-term as far as its global demand prospects are concerned. The market for aluminum outside of China “may take a small beating” from the global economic slowdown, according to the company.It is expected that companies will conclude next year’s aluminum sales at lower premiums compared with this year’s contracts because of lower demand. Aluminum output in the Western world should exceed demand by about 800,000 tons this year, with the surplus narrowing to 680,000 tons next year, and moving into deficit in 2015, according to Societe Generale SA.
