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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Trading prices of spot aluminium in Shanghai were between RMB 17,820-17,860/mt on Sept. 1st, with premiums of RMB 50-100/mt over SHFE current-month aluminium prices. Low-iron aluminium was traded between RMB 17,860-17,900/mt. Trading prices of spot aluminium in Wuxi were between RMB 17,800-17,850/mt. Purchases at lower prices increased during the day after capital pressure slightly alleviated among middlemen. Upward space of spot aluminium prices were limited, however, due to disappointing SHFE aluminium prices, with spot premiums narrowing to within RMB 100/mt. Mainstream trading prices of spot aluminium in Wuxi also fell to near RMB 17,800/mt following weakening aluminium futures. Overall market transactions saw significant improvement during the day.
Goldman Sachs Group Inc. (GS) lowered its estimates for aluminium prices through 2013, citing “weaker” growth in developed economies. The metal will trade at $1.18 a pound next year, down from a previous forecast of $1.28, and before rebounding to $1.22 in 2013, below an earlier estimate of $1.30, Goldman analysts Sal Tharani and Sandeep SM said in a report dated today. The 2011 forecast was lowered to $1.16 from $1.18. Aluminium has the highest “beta” to global economic growth, and “thus could be most impacted by macro weakness,” the analysts wrote. “We do not expect a major leg down in aluminum price as it is already trading at close to its marginal cost.”
U.S. domestic primary aluminum production in June was 167,000 metric tons, down slightly from 170,000 tons in May but up 18% from 141,000 tons a year earlier, according Thursday to the U.S. Geological Survey. The average daily U.S. primary aluminum production was 5,550 tons, slightly higher than the previous month and 18% higher than in June 2010.
Aluminum buyers in Japan, Asia’s largest importer, agreed to a 2 percent cut in fees charged by a major producer, the first drop in three quarters, after recovery from the March earthquake and tsunami lost momentum. Premiums for the three months ending Dec. 31 were set at $118 a metric ton over the London Metal Exchange cash price in transactions agreed so far, compared with $120 this quarter, said three executives involved in the negotiations. They declined to be identified because the talks were private. The fee declined as the U.S. economic slowdown and the yen’s rally to a postwar record against the dollar threaten Japan’s export-led recovery. Aluminum supply is abundant as smelters in the Middle East boosted shipments to Asian buyers, intensifying competition with Australian and...
Vedanta Aluminium Limited was the proud recipient of the Think Odisha Leadership Award for “Child Development and Employment Generation” at the recently concluded 4th Interface Asia Corporate Social Responsibility Forum-2011, hosted by Frame CSR, a joint initiative by The Times of India Group and Tefla’s. The award was given in recognition of VAL’s ongoing efforts in creating opportunities and building a better future for children in the peripheral areas as well as providing support for employment generation activities among the local people in and around its area of operations.
CSR's Aluminium business has been affected by the recent lower US dollar aluminium price, combined with the consistently high Australian dollar,' the company said. As a result EBIT for Gove Aluminium Finance, 70 per cent owned by CSR, is expected to be in the range of $42 to $45 million for the first half of this financial year, assuming no material changes to currency and aluminium prices.
Emirates Aluminium Company (Emal) has awarded Alstom a contract to provide air quality control equipment for the second phase of its aluminium smelter in the Al Taweelah industrial zone, Abu Dhabi. Alstom will design, engineer, supply, install and commission two Gas Treatment Plants and one Fume Treatment plant at the smelter. The plants, due on stream in 2013 and 2014, will capture, filter and recycle corrosive gas produced by the smelter, notably hydrogen fluoride, improving air quality and conforming to environmental requirements.
Research and Markets has announced the addition of the "Aluminum in Venezuela" report to their offering. Aluminum in Venezuela 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 Venezuela aluminum market.It includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information. The performance of the industry is forecast to accelerate, with an anticipated compound annual growth rate (CAGR) of 14% for the five-year period...
Goldman Sachs reiterated their Buy ratings on Alcoa (NYSE: AA) following the recent sharp pull back in the shares on global growth and the sovereign issues in Europe. The firm expects demand for metal to remain fairly healthy driven by emerging markets. Also, supply demand fundamentals for metals look positive. They do not see further downside in aluminum price which are close to marginal cost. Specific catalyst make them "very constructive" on Alcoa.
Investor confidence for LME aluminium rose overnight backed by optimistic expectation for China aluminium consumption in September and better-than-expected factory orders from the US (2.4% to 1.9%), thereby pushing LME aluminium prices to close USD 44.8/mt or 1.84% higher at USD 2471.8/mt, a new high since August 5th. The four-day gain of LME aluminium also forced shorts to exit, with positions falling by 3,057 lots to 720,372 lots. SMM expects LME aluminium prices to test the 30-day moving average and fluctuate between USD 2,430-2,480/mt on September 1st. Most active SHFE 1111 aluminium contract is expected to open higher near RMB 17,600/mt and fluctuate between RMB 17,450-17,650/mt. Spot premiums are expected to stay between RMB 80-130/mt as goods holders keep their quotes firm, but...
India's state-run National Aluminium Co Ltd (NALCO) has issued a tender to export 7,500 tonnes of aluminium ingots, a senior company official said on Tuesday. The last date for submission of bids is Sept. 6, the official, who is familiar with the process but could not be named due to company policy, told.
Reliance Steel and Aluminum (NYSE:RS) closed Monday's dramatic trading session at $40.87. In the past year, the stock has hit a 52-week low of $36.62 and 52-week high of $60.60. Reliance Steel and Aluminium (RS) stock has been showing support around $39.01 and resistance in the $41.87 range. Technical indicators for the stock are Bearish and S&P gives Reliance Steel and Aluminium (RS) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on Reliance Steel and Aluminium (RS), look at the Oct '11 $39.00 covered call for a net debit in the $37.07 area. That is also the break-even stock price for this trade. This covered call has a duration of 53 days, provides 9.30% downside protection and an assigned return rate of 5.21% for an annualized return rate of 35.86% (for...
MCX Aluminium may note some decline tracking copper prices, however the downside remains capped. Further, recent jump in stocks at LME warehouses may also weigh on the prices. Stocks at LME rose by 7300 tonnes after rising by 105625 tonnes last week while cancelled warrants eased to 6.98%. Support for Aluminium August contract is seen at INR 106.5 while resistance of INR 109.5.
As part of its plan to diversify into the energy business, National Aluminium Company (Nalco) has proposed to set up three hydro power projects with a combined capacity of 645 MW in locations identified by the state water resources department. Nalco wishes to execute these hydel projects either independently or through joint venture with the state owned Orissa Hydro Power Corporation (OHPC). The three projects include Balijhori hydro-electric project (160 MW) in Keonjhar district, Barmul hydro-power project (200 MW) in Nayagarh district and Middle Kolab hydro-power project (285 MW) in Koraput district. Nalco has successfully completed two major brownfield expansion plans at an investment of Rs 7800 crore. This has raised the company's bauxite mine capacity to 6.3 million tonnes, alumina...
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,380/mt on August 30th, and failed to break through RMB 17,500/mt despite rising Chinese stock prices and surrounding metals prices. The contract partially erased earlier gains during spot trading hours due to weak spot aluminum consumption and Shanghai Composite Index’s falling below 2,600 points. Finally closed price was RMB 17,445/mt, up RMB 85/mt or 0.49% from previous trading day. Though transactions of the contract doubled, profit taking eroded its upward momentum, and SMM expects the contract to struggle at the 20-day moving average in the short term.
Spot aluminum supply was sufficient in south China today, but buying interest downstream was low due to weak consumption and capital pressure at month’s end, with mainstreaming trading prices dragged down to RMB 17,940-17,980/mt. The weak demand also kept resistance at RMB 18,000/mt strong and limited spot aluminum prices’ ability to follow movement of SHFE aluminum prices. Overall market transactions were limited.
Trading prices of spot aluminum in Shanghai were RMB 17,800-17,850/mt on August 30th, with premiums of RMB 120-150/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 17,780-17,820/mt. Though SHFE aluminum prices opened higher and continued to gain with SHFE current-month aluminum prices climbing by nearly 0.5%, spot price gains were limited by weak consumption at month’s end. Spot quotes were mixed with some cargo-holders lowering their quotes to RMB 17,800/mt, thus dragging down mainstream trading prices. Market transactions were rare.
The SMM China Aluminum Ingot Trade Index trimmed previous week gains by 5.6% during August 22nd – August 26th to 37.2%, still below the balance line of 50% with downward pressure surging. SMM spot aluminum price stagnated at RMB 17,750/mt during the period. Due to seasonal low-demand, capital pressure at month’s end, power restrictions in summer and premiums as high as RMB 200/mt over SHFE current-month aluminum prices, buying interest for spot aluminum remained low despite lower quotes from goods holders, thereby leading to poor market sentiment. In order to objectively and accurately show China’s spot aluminum ingot trading market, SMM has surveyed spot aluminum ingot traders from different regions, of different types and scales, based on their total traded volumes, downstream purchase...
