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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Most active SHFE 1111 aluminum contract prices opened at previous day closing price of RMB 17,235/mt on August 23rd, and closed at RMB 17,290/mt, up RMB 55/mt or 0.32% from previous trading day. Highest and lowest prices during the day were RMB 17,315/mt and RMB 17,190/mt. Though aluminum became the only base metal that gained in SHFE, its upward momentum is still lacked. SMM expects most active SHFE aluminum contract to keep fluctuating near RMB 17,250/mt in the short term due to low market sentiment. Mainstream trading prices of spot aluminum in Shanghai were RMB 17,770-17,800/mt in the morning, with premiums of positive RMB 230-250/mt over SHFE current-month aluminum prices. Quotes of goods holders were firm in the morning backed by stable movements of SHFE aluminum prices, but several...
Most active SHFE 1111 aluminum contract prices fluctuated at the closing prices of previous trading day on August 23rd, and mainstream trading prices of spot aluminum in Guangdong moved down to RMB 17,930-17,960/mt due to sluggish downstream consumption. However, with some middlemen actively buying at lower prices to build up inventories, mainstream trading prices rebounded again, which in turn dampened buying interest. Overall market transactions were moderate during the day.
Hindalco Industries, the metal products manufacturing arm of the Aditya Birla Group, has decided to delay the financial closure of the Rs 7,800 crore Aditya Alumunium refinery project due to uncertain market conditions. D Bhattacharya, managing director, said the markets were not favourable to raise the money at this point in time. He, however, said work on the project was on and there was no constraint on funds to hold up the project. The debt to equity ratio for the project is 75:25 and the company is using equity for the project. Hindalco had raised $600 million via a QIP issue in 2009 for its expansion plans. He said Hindalco will wait for the right opportunity to tap the market. He said the company prefers rupee financing with an option to refinance part of the rupee loan with a...
Only two months after inking a new five-year contract with union workers, Ormet Corp. officials are counting profits that are $11.5 million ahead of where they were at this time last year. "I am extremely pleased with our performance for the second quarter and the first half of 2011," said Ormet President and Chief Executive Officer Mike Tanchuk. "We have built upon a very successful restart of two potlines at Hannibal earlier this year that allowed us to reach full run rate capacity and bring the operation up to full employment once again." Net sales from continuing operations at Ormet for the six month period ending June 30 were $272.3 million compared to $208.5 million for the same period in 2010. The gross profit during this time was $34.5 million, an $11.5 million increase from the...
Indian aluminum futures prices declined by 0.47% to INR 105.80 per kilogram as speculators booked profits at existing high levels, driven by subdued demand in the spot market. At the Multi Commodity Exchange, aluminum for delivery in August declined by 0.50 paise or 0.47% to INR 105.80 per kilogram with a business turnover of 975 lots. Similarly, the metal for delivery in September was trading lower by 40 paise or 0.37% at INR 106.95 per kilogram with an open interest for 50 lots.
South Korea has bought a total of 2,000 tonnes of high grade primary aluminum ingot for October shipping via tenders closed last week.
Below are the three companies in the Aluminum industry with the highest Debt to EBITDA ratio. This ratio indicates how many years of EBITDA would be necessary in order to pay back all the debt (assuming Debt and EBITDA are constant). Typically, this ratio is considered to be alarming when it is greater than 3.0 but this can vary and should be looked at within the context of the industry. Alcoa (NYSE:AA), Kaiser Aluminum (NASDAQ:KALU), and Noranda Aluminum (NYSE:NOR) are the three companies in the Aluminum industry with the highest debt to EBITDA ratio. For these companies, their Debt to EBITDA ratio suggests that debt service could be an issue should EBITDA fall.
Aluminum of China (NYSE:ACH - Analyst Report) traded in a range yesterday that spanned from a low of $15.51 to a high of $16.00. Yesterday, the shares fell 1.77%, which took the trading range below the 3-day low of $15.79 on volume of 353,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. Shares of Aluminum of China are currently trading below their 50-day moving average (MA) of $19.87 and below their 200-day MA of $22.52. Look for the MA to provide resistance for a short-term rebound in the shares.
Prices of base metals in China are faring better than those on the London Metal Exchange lately, point out analysts with Barclays Capital. LME base metals suffered “significantly” over the last month on economic and financial-system worries, with aluminum falling nearly 10%. However, Barclays says, perhaps there has not been sufficient attention to “broadly positive signals” that fundamental conditions in China are robust enough to keep domestic prices from being “dragged into the quagmire of fear and depression” dominating price moves on the LME. For aluminum,the Shanghai/LME price spread has moved from trading at a discount earlier in 2011 to now a “firm” premium. In fact, for aluminum, the premium is at its highest since October 2009.“While each metal has its own specificities, the...
Most active SHFE 1111 aluminum contract prices fluctuated at the closing prices of previous trading day on August 23rd, and mainstream trading prices of spot aluminum in Guangdong moved down to RMB 17,930-17,960/mt due to sluggish downstream consumption. However, with some middlemen actively buying at lower prices to build up inventories, mainstream trading prices rebounded again, which in turn dampened buying interest. Overall market transactions were moderate during the day.
The SMM China Aluminum Ingot Trade Index slightly rebounded to 42.8%, up by 6.3% from previous week during August 15th to August 19th, but was still below the balance line of 50%. Domestic aluminum prices fluctuated in gradually narrowing ranges during the week. Though market trend was still unclear and bearish sentiment still prevailed, spot aluminum buyers made purchases nevertheless at times they deemed appropriate. Therefore, market sentiment slightly improved despite limited transactions. 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 volumes, traders inventories, cash flows and employee...
Brazil's aluminium industry must find a compromise between extruders fighting for the removal of import taxes on primary aluminium, and smelters which want them retained
SNC-Lavalin is one of the world’s leading engineering and construction groups, and a major player in infrastructure ownership and in the provision of operations and maintenance services. The SNC-Lavalin companies have offices across Canada and in 35 other countries around the world, and are currently working in some 100 countries. SNC-Lavalin has challenging opportunities for dynamic individuals wishing to acquire a wealth of professional experience, to work on the design and construction of a new aluminum smelter in Abu Dhabi (United Arab Emirates).
The venture and growth capital investor has now increased its stake to over 6.3 per cent in the Mumbai-based company. Sequoia Capital India has picked up an additional 1.46 per cent stake in packaging firm Ess Dee Aluminium Ltd from the open market. The venture and growth capital investor has now increased its stake to over 6.3 per cent in the Mumbai-based Ess Dee, which makes packaging materials used by pharmaceutical companies. The latest round of share purchase was done for Rs 11.27 crore.
Industrial metals finished higher on Friday, with support from a weak dollar, steadier equities, Chilean supply threats and Asian demand signals enabling prices to overcome overnight selling pressures. More than 100,000 tonnes of aluminium flowed into London Metal Exchangeregistered warehouses in Vlissingen, latest LME data showed, in another big increase that has inflated stocks in the Dutch port to over 700,000 tonnes. - October-December aluminium term premiums to Japan will likely stay flat or fall slightly, with buyers seeing no reason for a rise and producers expected to point to high U.S. and European premiums.
Nordic Aluminium Plc will start employee negotiations in compliance with the Acton Cooperation. These negotiations will be held to adapt the Company's operations to the current market situation and to the expected operational and economical prospects. These negotiations will affect employees in Nivala factory and the possible effectsare approximately 9 persons.These negotiations will start on August 29, 2011.
A three-judge federal panel has handed a setback to West Virginia Century Aluminum retirees seeking health-care benefits. The judges on the 4th U.S. Circuit Court of Appeals affirmed a lower court ruling in West Virginia that denied the retirees and their representatives a preliminary injunction against Century Aluminum and its decision to end lifetime health-care benefits.
Research and Markets has announced the addition of Supplier Relations US, LLC's new report "Primary Smelting and Refining of Copper Industry in the US and its International Trade [2011 Q3 Edition]" to their offering. This U.S. industry comprises establishments primarily engaged in (1) making (i.e., the primary production) nonferrous metals by smelting ore and/or (2) the primary refining of nonferrous metals by electrolytic methods or other processes. This 6-digit NAICS industry (331411) is under the hierarchy of Nonferrous Metal (except Aluminum) Smelting and Refining Industry (33141), Nonferrous Metal (except Aluminum) Production and Processing Industry Group (3314), Primary Metal Manufacturing Subsector (331), and the Manufacturing Sector (31-33). Its SIC equivalent code is: 3331 -...
