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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Russia's United Company RUSAL Plc , the world's top aluminium producer, on Monday reported a sharper than expected 70 percent drop in net profit in the second quarter on non-cash items as cost inflation offset higher prices and output. RUSAL , which competes with U.S. aluminium maker Alcoa Inc , said it expected demand for aluminium to continue to strengthen on increased penetration in consumer markets as well as further price support based on cost inflation, including raw materials, power and labour.
ZhongFu Industry mainly focuses on producing aluminium and aluminium processing products. Aluminium industry has a close relation with packaging, architecture, transportation industries etc. Our country is at the stage of industrialization, urbanization and rapid development. Since 2011, our country has made developments in housing and infrastructure construction that keeps aluminum industry developing rapidly. Subsidiary company ZhongFu Electricity provides stable power to ZhongFu Industrial and holding company Zhongshan’s investments play a great role in guaranteeing its smooth operation.
Commodity reported that aluminum prices have fallen in tandem with the decline in base metal prices over the recent weeks. Weak macroeconomic data from the US and Europe have pressured prices to move south. However, the declining Chinese inventories give hope for a strong support in prices and the potential for an upside move.
On August 26 night, Chinalco reported its H1 net profit reaches 413 million Yuan, decrease 22.24% YOY. The report shows operating income of Chinalco H1 2011 reaches 65970 million Yuan, increase 10.36% YOY. It mainly because of external sales price rise of main products and increase of external sales volume. Also shows due to income on investment and variation of fair value make H1 net profit decrease.
Global aluminum prices are expected to remain range-bound in the near term as global inventories are at record levels, Hindalco Industries Ltd. (500440.BY) said in its annual report Friday. "Aluminum inventories across the globe are near all-time high. But most of these inventories are reportedly bound in financing deals and are not expected to flood the market," it added.
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.
Netherlands-based Vimetco NV (VICO.LN) Friday reported a 6% year-on-year rise in aluminum production in the first half of 2011 and said it continues to monitor the market despite improving demand. The company produced 454,000 metric tons of primary aluminum in the first six months of the year, from 429,000 tons in the same period the previous year. This helped boost revenues by 26% to $1.38 billion from $1.1 billion a year-earlier. Net profit leapt to $51 million from $15 million in the first six months of 2010.
Spot aluminum prices in south China hit RMB 18,000/mt after most active SHFE aluminum contract prices climbed and broke through the 60-day moving average. However, mainstream trading prices gradually fell to RMB 17,960-18,000/mt later due to month-end weak consumption. Only low-iron aluminum was traded at RMB 18,000/mt and most aluminum ingots traded at RMB 17,980/mt. Overall market transactions were sluggish.
Trading prices of spot aluminum in Shanghai on August 26th were between RMB 150-170/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,840-17,860/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,780-17,840/mt. SHFE aluminum prices climbed in the morning session, but partially erased earlier gains during spot trading hours due to profit-taking. This, however, still boosted goods holder confidence with spot quotes being lifted. While on the contrary, due to month-end capital pressure, some goods holders lowered their quotes in order to attract buyers. Market transactions were rarely seen as consumption remained weak, with spot aluminum prices struggling at RMB 18,000/mt.
Vimetco, the producer of primary and processed aluminium products, has announced interim financial results for the six months ended 30 June 2011 showing sales for the period were USD 1,382 million (H1 2010: USD 1,100 million), up 25%. The increase was mainly determined by higher aluminium prices, improved demand and the increase in output for high added value products.
Legend International Holdings, Inc (Legend) is pleased to announce it has signed a Memorandum of Understanding with Alcoa of Australia Limited ("Alcoa") to investigate a potential offtake agreement. The two companies have commenced preliminary discussions examining the viability of Legend supplying Alcoa with aluminium fluoride (AlF3) (produced at Legend's proposed Paradise Phosphate project) and Alcoa supplying Legend with aluminium hydroxide (Al(OH)3) for the AlF3 production process.
Retired workers from Century Aluminum are hosting "The Reopening of Fort Unity" at the United Steelworkers Local 5668 Hall just south of Ravenswood on Saturday, beginning at noon. Retirees are protesting their loss of health-care benefits they say Century promised them before the plant closed on Feb. 15, 2009.
Though the US Department of Labor released on August 25th Thursday a much 5,000 higher than expected unemployment claims data, all LME base metals closed higher during the day as the market expected positive news from Fed president to stimulate development of the US economy. Meanwhile, weak economic data pushed the US dollar index 0.18% higher to 74.194 as risk aversion sentiment grew. LME aluminum only closed USD 19.3/mt or 0.82% higher overnight after hitting USD 2,393/mt, due to increased inventories and new unemployment claims. Total positions rose by 287 lots to 740,971 lots. With the market waiting for directions from Bernanke remarks, LME aluminum is expected to struggle at the 10-day moving average today and fluctuate between USD 2,350-2,410/mt. Most active SHFE 1111 aluminum...
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,250/mt and closed RMB 40/mt or 0.23% higher at RMB 17,320/mt on August 25th. The contract hit an intraday high of RMB 17355/mt supported by a 3% surge in Shanghai Composite Index. Market transactions slightly rose to 50,000 lots during the day, but were still less than half those in previous week. SMM expects the contract to struggle at RMB 17,300/mt in the short term given strong resistance at the 60-day moving average. Morning mainstream trading prices of spot aluminum in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 190-220/mt over SHFE current-month aluminum prices. As SHFE aluminum prices stagnated, goods holders successively lowered their quotes to attract buyers, but ended with...
Nalco Profits will take a hit if aluminium prices fall significantly. The recent news about National Aluminium Company (Nalco) receiving approval to mine coal in its Orissa block saw the stock rise almost 16 per cent from a 52-week low on Friday (August 19). Though it has given up some ground thereafter, the development is positive and improves the company’s coal security for future expansion projects, besides cost savings. Since early 2011, Coal India had raised prices by a little over 30 per cent, which had led analysts to significantly downgrade Nalco’s earnings for 2011-12, as well as 2012-13. The move was logical, as the company procures almost 90 per cent of its requirement (used in generating power, for producing aluminium) from entities like Coal India. The approval to mine coal,...
Residents in the south-west Western Australian town of Yarloop are calling on the State Government to intervene in a long-running dispute between the community and aluminium producer Alcoa. A group of residents is taking legal action against Alcoa, alleging emissions from the company's refinery are making them sick. They are seeking compensation to allow them to relocate the town and want Environment Minister Bill Marmion to force the company to pay out.
Two partners in the world's top aluminium producer, UC RUSAL , want to sell their stake to a third tycoon, Alisher Usmanov, owner of an iron ore miner and shareholder in Norilsk Nickel , Vedomosti reported on Friday. Viktor Vekselberg and Len Blavatnik, who merged their aluminium assets with RUSAL about five years ago, have offered the stake to Usmanov, the daily reported, citing three sources. A source close to Usmanov was cited as saying the offer had only been made, while sources close to the sellers said Usmanov was close to agreeing.
The latest Primary Aluminum production numbers released by International Aluminum Institute suggests that the production increased by 5.5% in the January to July 2011 period. The total Primary Aluminum production stood at 24.94 million tonnes in January to July 2011 as against 23.64 million tonnes in January to July 2010. A large chunk of the rise in primary Aluminum production was due to increase in production in GCC and Gulf region. The production in this region was 1.96 million tonnes up 32% from corresponding period last year. Increase of 171000 tonnes was also noted from West Europe. The total production in West Europe was 2.34 million tonnes as against 2.17 million tonnes.
