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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Davenport upgraded Alcoa (NYSE:AA) from Neutral to Buy a week ago. Alcoa shares are selling at $11.86, 5.8% above the $11.21 price point of one week ago. A 49.0% potential upside exists for Alcoa, based on a current level of $12.13 and analysts' average consensus price target of $18.08. The stock should run into initial resistance at its 50-day moving average (MA) of $14.27 and subsequent resistance at its 200-day MA of $15.60.
Quoting strong fundamentals of Aluminium, RUSAL says that demand may grow by 13% to 46 million tonnes by 2011 and primary Aluminium production will grow approximately 9% to 46 million tonnes. RUSAL is the world’s largest aluminium producer. China and the Middle East are expected to contribute to the growth of production while demand will be driven by the emerging markets of China, Brazil, India and Russia. Though Japanese consumption was hit by the March earthquake, the company expects recovery in Q4, 2011 spurred by automotive and construction sectors.
United Co. Rusal PLC (0486.HK), the world's biggest aluminium producer, said Monday it had agreed up to $655 million credit line with Gazprombank (GZPR.RS) and a $460 million credit line with OAO Sberbank (SBER.RS), both of which it would spend to refinance its debt to the corresponding banks. Rusal said earlier in the day it was on track to refinance all of its debt within the next four weeks, after which the company will be in a position to start paying dividend. Rusal's net debt stood at $11.43 billion as of June 30.
In the evening of August 29th, though the US released mixed economic data, a much higher-than-expected personal spending growth (0.8% compared with 0.5% expected) which indicated economic improvement in the US boosted market confidence and limited impact by hurricane “Irene” relieved investor worries including impact from China’s further tightening capital supply. As a result, US stock prices surged by over 2% with gold and US dollar declined and US dollar index fell by 0.04% to 73.686. LME was closed on August 29th due to the summer bank holiday of the country. SMM expects LME aluminium prices to climb today and fluctuate between USD 2,370-2,410/mt with strong US stocks overnight. Most active SHFE 1111 aluminium contract is expected to open slightly higher at RMB 17,400/mt and fluctuate...
After opening higher at RMB 17,380/mt, most active SHFE 1111 aluminium contract outperformed surrounding base metals contracts and hit an intraday high of RMB 17,395/mt on August 29th. However, due to market concerns towards liquidity pressure caused by talks of a spread of base of reserve to include margin deposits, the contract quickly erased earlier gains to narrowly struggle at RMB 17,365/mt. Finally closed price was RMB 17370/mt, slightly up by RMB 5/mt or 0.03% from previous trading day. Positions of the contract fell by 2,080 lots due to profit-taking at the tail of trading. Transactions turned quiet during the day with only more than 20,000 lots reported with closed LME and strong resistance at RMB 17,400/mt given capital tightening expectations. SMM expects most active SHFE...
The Coal Ministry today informed Parliament that aluminium company NALCO were not supplied the full quantity of coal they contracted from state-run Coal India during the April-June, 2011 period. "CIL has reported that during April-July, 2011, dispatches to NALCO's captive power plant... were 1.828 million tonnes (MT) against the pro-rata Annual Contract Quantity (ACQ) of 1.91 MT," Minister of State for Coal Pratik Prakashbapu Patil said in a written reply to a question in the Rajya Sabha. For the current fiscal, the minister said, Coal India Ltd (CIL) has offered to supply 447 MT of coal to power utilities, subject to the availability of wagons from the Railways. Dispatches could have been better but for the frequent law and order problems..(besides) constraints of wagon availability in...
The expansion of India’s primary aluminum capacity in 2011-12 will fall short of market expectations by some 1.6 metric tons per year, says Harbor Intelligence. Projects have gone through a process of continuous delays and some of them could be canceled due to lack of bauxite and competitive coal,” Harbor says. “The fact is that these delays and possible cancelations will adversely hit India’s aluminum market balance and thus intensify the ongoing global mark deficit. “Assuming delayed projects actually take place, we expect India’s deficit to widen from 283,000 to 402,000 tons this year, and from 157,000 to 423,000 tons next year.”
Aluminium Bahrain B.S.C. (Alba)'s celebrations during the holy month of Ramadan continued as the company held the football and basketball finals as well as the prize-giving ceremony of its month-long Annual Ramadan Interdepartmental Sports Tournament on Saturday, August 27, 2011 at the Alba Club.
While most active SHFE aluminium contract prices narrowly fluctuated near RMB 17,365/mt, spot aluminium prices in south China fell slightly to RMB 17,910-17,950/mt due to weak consumption at the month’s end. Resistance was turning stronger at RMB 18,000/mt, keeping most active SHFE aluminium contract away in the short term. Though cargo holders actively touted their goods, downstream buying interest was low due to capital pressure. As a result, excessive supply appeared, gradually dragging down mainstream trading prices. Overall market transactions were limited.
Trading prices of spot aluminium in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 140-170/mt over SHFE current-month aluminium prices. Low-iron aluminium was traded between RMB 17,800-17,840/mt. Trading prices of spot aluminium in Wuxi were between RMB 17,720-17,760/mt. Spot aluminium prices fell as a result of drastic fluctuation in SHFE aluminium prices. Goods holders also actively lowered their quotes given weak consumption at the month’s end, with spot quotes in Wuxi falling the most to near RMB 17,700/mt. Market transactions were sparse.
SHFE 1111 aluminium contact prices moved below the 60-day moving average, with prices mainly moving between RMB 17,150-17,350/mt last week. Trading sentiment was sluggish, with daily trading volumes falling to around 50,000 lots. Investors mainly made short-term speculative transactions, keeping mainstream prices between RMB 17,200-17,300/mt. SHFE aluminium inventories fell continuously, and positive market fundamentals helped SHFE aluminium prices fall slower than other metals prices, but investors were cautious and moved goods actively for profits, helping erode upward momentum of SHFE aluminium prices and allowing SHFE aluminium prices to rise slower than other metals prices. SMM predicts SHFE 1111 aluminium contract prices will struggle at the 60-day moving average, but consolidate at...
After opening higher at RMB 17,380/mt, most active SHFE 1111 aluminum contract outperformed surrounding base metals contracts and hit an intraday high of RMB 17,395/mt on August 29th. However, due to market concerns towards liquidity pressure caused by a spread of base of reserve to include margin deposits, the contract quickly erased earlier gains to narrowly struggle at RMB 17,365/mt. Finally closed price was RMB 17,370/mt, slightly up by RMB 5/mt or 0.03% from previous trading day. Positions of the contract fell by 2,080 lots due to profit-taking at the tail of trading. Transactions turned quiet during the day with only more than 20,000 lots reported with closed LME and strong resistance at RMB 17,400/mt given capital tightening expectations. SMM expects most active SHFE aluminum...
United Co. Rusal expects to complete debt refinancing talks in about four weeks, allowing the world's largest aluminum maker to start paying dividends for the first time since it listed, said Deputy Chief Executive Officer Oleg Mukhamedshin. "The company is eager to refinance all of its debt by the end of September," Mukhamedshin said today on a conference call. "From a technical view, the company will be in a position to start paying dividends."
Russia's United Company RUSAL Plc , the world's top aluminium producer, said on Monday it is unaware of partners selling Rusal shares. UC Rusal has not yet considered Norilsk's share buyback offer, a senior company executive told a news conference after its earnings.
The combined output of the ten nonferrous metals was 19.84 million metric tons in the first seven months of this year, up 9.9% year on year, according to the latest statistics released by the National Development and Reform Commission. The growth was 20 percentage points lower than that in the same period of 2010. The output of electrolytic aluminium rose 6.8% year on year to 102 million metric tons in the first seven months, slowing from a 41.9% growth in the same period of 2010.
Though US Fed president did not mention QE3 during the annual central bank meeting on August 26th, and implied that economic stimulation was not necessary at the time. However, he did say to add two days for the Fed interest rate meeting in September to discuss the need of quantitative easing policies. As a result, stock and commodity prices rebounded following earlier dropping, while the US dollar index fell 0.64% to 73.717. LME aluminum prices closed 0.27% higher at USD 2,380/mt on August 26th. However, due to cautious market sentiment, daily transaction volumes fell by 3,180 lots to 7,878 lots and total positions were reduced by 4,832 lots to 736,169 lots. LME is closed today due to British summer vocation for banks. Most active SHFE 1111 aluminum contract prices are expected to open...
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,330/mt on August 26th. After meeting temporary strong resistance, the contract broke through the 60-day moving average with increased buying, hitting an intraday high of RMB 17,445/mt. The contract finally closed RMB 80/mt or 0.46% higher at RMB 17,380/mt after partially erasing earlier gains due to profit-taking. Though most active SHFE aluminum contract finally broke through the 60-day moving average and hit a week high with improved investor risk appetite, SMM expect it to test RMB 17,450/mt in the short term given cautious market sentiment, and may slightly go up if US Fed president announces economic stimulation policies. Latest SHFE aluminum inventories continued to fell by 15,885 mt to 124,808 mt, and positive...
The UAE's two aluminium producers are boosting exports to the Far East and other emerging markets to offset disruptions to Middle East orders caused by unrest. Both Dubai Aluminium (Dubal) and Emirates Aluminium (Emal) have suspended shipments to Syria, an important centre for re-export of the metal in the region. As a result, the firms are directing more trade elsewhere. "We always direct our orders to somewhere else," said Khalid Buhumaid, a spokesman for Dubal. "The Far East market is picking up, and one of the challenges for next year is exploring South America."
