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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Aluminum prices have been hit hard since April. The aluminum ETF ALUM fell from 16.36 on 4/11/11 to a low of 11.19 on 8/8/11. Aluminum looks poised for a rally. The fundamentals are looking better. Just recently, RUSAL (the world's largest producer of Aluminum) CEO Oleg Deripaska, forecasted strong aluminum demand to continue and revised upwards its average aluminum price forecast for the year to $2,700 per tonne from $2,500-2,600 estimated in March. He further added that aluminum consumption in China, the world's largest producer and consumer of the metal, would rise 15 percent this year to 19 million tonnes, compared with an April forecast of 8 percent. Global demand was likely to rise 13 percent to 46 million tonnes in 2011, it said. This bodes well for the other big players in the...
MCX Aluminum may note some decline tracking copper prices. Also recent jump in stocks at LME warehouses may weigh on the prices. Stocks at LME rose by 75 tonnes yesterday and are in the upper range for the year while those at SHFE fell by 15,885 tonnes. Support for Aluminum September contract is seen at Rs.110.5 while resistance of Rs.113.5.
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,465/mt on September 2nd. After erasing weekly gains to RMB 17,370/mt due to profit-taking by the longs and short-selling, the contract partially pared losses at the tail of trading on profit-taking among the shorts and finally closed at RMB 17,435/mt, down RMB 50/mt or 0.29%. Total positions of the contract rose by 1,006 lots to 118,022 lots. Though power shortages in south China provided extra support for SHFE aluminum among all SHFE metals, a generally bearish market sentiment and only around 20,000 lots of transactions still dragged the metal down from weekly high. SMM expects most active SHFE aluminum contract to struggle at RMB 17,450/mt in the short term while waiting for the US non-farm payroll data to...
Buying interest in spot aluminum market of south China was low today with no purchases to build up inventories being reported. Goods holders were in no urgent need to sell, with only extremely few offered low-priced goods. Mainstream trading prices in the area were between RMB 17,930-17,970/mt. Overall market transactions were limited.
Trading prices of spot aluminum in Shanghai were between RMB 17,780-17,820/mt on September 2nd, with premiums of positive RMB 40-80/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,860-17,900/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,770-17,810/mt. Spot market sentiment turned low with SHFE aluminum prices’ opening and moving lower. Transactions were hardly reported despite of inquiries. As only small volumes of downstream purchases were seen in the market, with sufficient supply, goods holders were actively lowering quotes to attract buyers, thereby dragging down mainstream trading prices to below RMB 17,800/mt. Overall market transactions were sparse.
National Aluminium Company rose 2.52% to Rs. 65.20 at 10:46 IST on BSE on reports the company has raised aluminium prices by Rs. 2,000 per tonne across all products. State-run aluminium maker National Aluminium Company's (Nalco) net profit surged 32.7% to Rs. 376.84 crore on 34.2% rise in net sales to Rs. 1733.10 crore in Q1 June 2011 over Q1 June 2010.
Some suppliers have concluded fourth-quarter aluminum contracts with Japanese consumers at a premium of $118 a metric ton on a cost, insurance and freight basis, a Tokyo-based trader said Friday. Suppliers and consumers have agreed on contracts for around 40% of total fourth-quarter volumes at that level, which is slightly narrower than the third-quarter premium of $120-121/ton and in line with expectations. The fourth-quarter talks will likely conclude next week, with traders pegging a final settlement at $118-120/ton. Market participants are expecting strong Japanese demand in the final three months of the year, but concerns over the health of the country's export markets in the major Western economies are weighing on the market and pressuring premiums, traders have said recently.
Manufacturing data released on September 1st were disappointing in Europe, indicating difficulties to improve debt woes in the area, and even though China and US manufacturing data met market expectations, stagnating economic recoveries in the two countries still scared investors away to seek security with US dollar. As a result, the US dollar index surged overnight to 74.714, and LME aluminum prices were pressed down. The loss of LME aluminum prices was limited, however, due to energy attributes of the metal following slight gains of New York crude prices. The metal finally closed at USD 2,450/mt, down USD 21.8/mt or 0.88% from previous trading day. Total positions gained 457 lots to 720,829 lots. SMM expects LME aluminum price to test the 5-day moving average and fluctuate between USD...
Though LME aluminum gained again by nearly 2% overnight, most active SHFE aluminum contract opened only slightly higher at RMB 17,510/mt on Sept 1st. After hitting an intraday high of RMB 17,555/mt supported by exiting shorts, the contract erased earlier gains due to weakening Shanghai Composite Index, and finally closed RMB 10/mt or 0.06% lower at RMB 17,465/mt. Total positions of the contract dropped by 790 lots to 117,016 lots. With alleviating capital pressure, transactions during the day slightly increased, but were mainly speculative activities. SMM expects the contract to test support at RMB 17,450/mt during the following trading day. Morning trading prices of spot aluminum in Shanghai were between RMB 17,820-17,860/mt on Sept. 1st, with premiums of RMB 50-80/mt over SHFE...
Shanghai Futures Exchange copper and aluminium fell back on profit-taking on Thursday but remained near a three-week high after China's manufacturing index rebounded from a 29-month low.
Shanghai will increase storage for metals at bonded warehouses as much as fivefold, lowering costs for commodity trading and potentially boosting shipments. “As we expand our physical and futures-related trading businesses, it’s likely to become a globally influential price- forming center for certain commodities when trading volumes become large enough," said Wang Xinling, vice chairman of the Shanghai Free Trade Zones Administration. Increased bonded warehousing space in Shanghai, the world’s busiest container port, may help China’s metals trading hub bring prices more in line with international rates as shipments are exempt from import duties. Demand from the world’s second- largest economy has helped fuel a rally in metal prices since 2003, with increased trading in Asia prompting the...
The volume of long-term business concluded at MB's 26th International Aluminium Conference in Paris next week, traditionally seen as the start of mating season, will be limited by the lack of direction in the market, buyers and sellers said. The economic turmoil in the USA and Europe in recent weeks has propagated renewed fears of a double-dip recession, leaving metals buyers in a state of such uncertainty that few will be willing to commit to large, long-term supply contracts at this stage of the year. “People are a bit shell-shocked after the last three to four weeks,” a seller source said. “I don’t think anyone will book a great deal next week.” Buyers and sellers will use the opportunity to meet in Paris to discuss supply needs over the next year. But few are expecting those...
TALKS are under way in the hope of securing the future of one of the biggest employers in south east Northumberland. Bosses at Rio Tinto Alcan in Lynemouth are in discussions with two companies interested in buying its aluminium smelter and power station in separate deals. The potential sales could safeguard the jobs of the 650 staff employed at the coastal complex. Rio Tinto Alcan is currently undertaking a strategic review triggered by potential new European Union rules on emissions and the government’s carbon floor price. The options on the table are keeping the current plant going, selling it off or shutting it down.
High aluminium premiums are due to warehouse owners offering large incentives to put material on-warrant, rather than being indicative of a global supply deficit, according to physical market sources. European duty-paid material is trading at a premium of $190-210 per tonne over London Metal Exchange prices, while duty-unpaid material trades at a premium of $120-140. Three-month aluminium prices settled at $2,441/42 per tonne in the official session on the LME on August 31, from $2,345/45.5 per tonne on August 19.
Base metals traded lower by up to Rs 2 in a lacklustre trade in the local non-ferrous metal market on selling by stockists influenced by a weakening global trend. Following were today's quotations in Rs per kg:Aluminium ingots 112, sheet cutting 113, aluminium wire scrap 112 and aluminium utensils scrap 109.
A very successful merger. This is how most people would characterize the new company - Hydro Aluminium - born in Norway 25 years ago, on September 1, after the merger with ÅSV. It was the day that brought to life a Norwegian aluminium giant with a strong base in the European market. Hydro's aluminium business has developed significantly over the past 25 years, since the ÅSV merger in 1986, through acquisitions, partnerships and growth. Hydro is today a focused aluminium company with operations throughout the value chain, from bauxite mining to the sale of aluminium products.
Harbor Intelligence predicts that aluminum price will regain to $2,702 /Ton during the rest of 2011, and $3,100/Ton in 2012, while during 2013-2014, it will reach $3,400/Ton. Harbor Intelligence also said that three months futures at LME will decrease 3.7%,due to the weak demand of spot products and it being dragged by funds selling. This organization indicates that the market keeps tight demand, spot prices continue higher than futures. The price gap between Shanghai Futures Exchange and LME leads to stimulate Chinese import of more aluminum.
Nalco (NYSE:NLC) closed Tuesday's meandering trading session at $36.41. In the past year, the stock has hit a 52-week low of $22.32 and 52-week high of $37.34. Nalco (NLC) stock has been showing support around $35.23 and resistance in the $37.15 range. Technical indicators for the stock are Bullish. For a hedged play on Nalco (NLC), look at the Dec '11 $36.00 covered call for a net debit in the $34.66 area. That is also the break-even stock price for this trade. This covered call has a duration of 108 days, provides 4.81% downside protection and an assigned return rate of 3.87% for an annualized return rate of 13.07% (for comparison purposes only). Nalco (NLC) has a current annual dividend yield of 0.39%.
