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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BL Bagra, chairman and managing director of National Aluminium Company (Nalco), today said the aluminium major does not need to tap the markets in the next three years for expansion, but it is up to the government to take a call on disinvesting its stake in the company. The government, with 87.15% holding in Nalco, has put the company on its disinvestment radar during the current fiscal. However, Bagra said the company has enough cash for implementing its expansion plans.
Angel Broking has maintained neutral rating on National Aluminium Company (NALCO), in its August 17, 2010 research report. “National Aluminium’s (Nalco) 1QFY2012 results were above our expectations. The company was able to sustain its margin on account of higher realisation. For 1QFY2012, Nalco’s net sales grew by 34.2% yoy to Rs1,733cr, led by higher realisation of alumina and aluminium. Alumina realisation increased by 21.1% yoy to Rs20,653/tonne and aluminium realisation increased by 18.3% yoy to Rs122,086/tonne. The aluminum segment’s sales grew by 20.9% yoy to Rs1,355cr due to higher LME prices despite metal volumes of only 2.2% yoy to 111kt. The chemical segment’s revenue grew by 60.6% yoy to Rs646cr on the back of alumina sales volumes, which grew by 83.0% yoy to 183kt.”
Total world aluminum production in July rose by 78,000 metric tons to 2.175 million tons, according to figures released Monday. World production in June stood at 2.097 million tons. July production was up 119,000 tons compared to the same month of 2010, when output was recorded at 2.056 million tons.
Strong safe haven demand for gold and US dollar in financial markets continued overnight, pushing London gold price to USD 1,900/oz, a record high. The US dollar index also closed higher at 74.159, while commodity prices erased earlier gains and gains of US stocks were limited as a result. The Libya civil war that has lasted several months recently got more attention from global markets after the rebels grabbed fully control, which led New York crude prices to close over 2% higher overnight. After hitting an intraday low of USD 2,333/mt during, LME aluminum prices slightly rebounded following rising crude prices during the day, and finally closed at USD 2,348.3/mt, down USD 1.8/mt or 0.07%. Total positions rose by over 10,000 lots to 733,600 lots. SMM expects LME aluminum prices to...
Most active SHFE 1111 aluminum contract opened higher at RMB 17,250/mt and closed at RMB 17,215/mt, up RMB 45/mt or 0.26% on August 22nd. Total positions of the contract added 3,000 lots in the morning which pushed the contract to a highest intraday price of RMB 17,295/mt, but finally dropped 804 lots due to profit taking in the afternoon. Transactions during the day dropped by 50% and were mainly short swing speculation activities due to cautious market sentiment. SMM expects the contract to keep fluctuating near RMB 17,200/mt in the short term as a combined result of insufficient upward momentum and positive high premiums, while future trend is still hard to predict. Spot aluminum in Shanghai was mainly traded at RMB 17,770-17,800/mt in the morning of August 22nd, with premiums of...
Hindalco Industries, the metals flagship of the Aditya Birla group, plans to raise around Rs 8,000 crore of debt amid volatility in the global markets and rising borrowing costs in the Indian market. This debt will be used to part fund its Aditya Alumunium refinery project and a captive power plant in Orissa. "The equity part for the Aditya aluminium smelter project has already been tied up and we are likely to launch the debt financing plan soon." D Bhattacharya, managing director, Hindalco, told TOI. He, however, declined to mention a fixed timeline for the borrowing.
LME aluminium is neutral in a range of $2,323-$2,372 per tonne and only an escape from this could trigger a directional move. The fall from the July 27 high of $2,675.25 to the Aug 19 low of $2,323 is still considered having completed a five-wave cycle, and the current rebound is expected to push the metal to $2,406, the 23.6 percent Fibonacci retracement.
Sohar Aluminum is expected to take a concrete decision on its proposed expansion to double the present capacity to 740,000 tonnes per annum by the year end. Mr Henk Pauw CEO of Sohar Aluminum said that the capital expenditure of the proposed expansion which includes a massive captive power plant is envisaged at slightly higher than USD 4 billion. Mr Pauw said that the Ministry of Oil and Gas is in negotiation with British energy giant BP for determining the natural gas price. Until that is concluded, it is very hard for me to speculate on what it means for us. He said that his company is looking at different options or scenarios for the proposed expansion. We will have some kind of understanding before the end of the year. Sohar Aluminum which produces aluminum ingots and sows, needs...
Reuters reported that October to December aluminum 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 US and European premiums. The premiums for the current quarter were largely settled at USD 120 per tonne, marking the first rise in six quarters and putting them at their highest in a year. Domestic demand for aluminum products has been slowly recovering after damage inflicted by the March 11 earthquake and tsunami.
BNamericas reported that workers at Venezuelan state aluminum reducer Alcasa have drawn up a proposal to attract private investors to help return plant operations to normal. Mr Henry Arias labor director of Alcasa said that "We want to look for investors to help us revitalize the company and we're willing to sign whatever agreements are necessary, provided they are win win relationships." Mr Arias said that the initial goal is to raise USD 30 million from investors to incorporate 60 production cells and restore the plant's operational capacity. Alcasa had to look for allies among local and international companies interested in increasing the number of cells in operation because the plant's status is critical. We are willing to make the necessary sacrifices to stabilize the plant.
World's largest aluminium producer Russia's United Company RUSAL Plc said that no official offer has been made on Norilsk Nickel's plan to buy back 15% of its shares from RUSAL. RUSAL also said it was unaware of the reason behind sharp swings in its share price, which fell 9% on Monday to the lowest intraday level since July 2010.
Aluminum demand in July “appears to have grown at a double-digit annual pace for the third month running,” according to David Thurtell, an analyst at Citigroup Inc. in Singapore. He made his comments by e-mail after the International Aluminium Institute today said production averaged 70,200 metric tons a day in July. The output doesn’t include China, the world’s largest producer of the metal.
Sushil Finance is bullish on Hindalco Industries and has recommended buy rating on the stock with a target of Rs 193 in its August 17, 2011 research report. During the quarter ended Q1FY12, Hindalco Revenue is up by 16.2% YoY to Rs.60.3 Bn on the back of higher sales realization.
Alcoa shined Monday as investors cheered an analyst upgrade of the aluminum giant's stock. Before Monday's opening bell, Davenport & Company analyst Lloyd O'Carroll and his team upgraded Alcoa (ticker: AA) from Neutral to Buy, and established an $18 price target for the stock, which represents more than 60% upside from Friday's closing price. O'Carroll wrote that he now sees "more upside than downside for aluminum prices (even with all the negative sentiment in the financial markets)," which should boost the stock. Investors agreed with the call, sending Alcoa shares up 0.5% to $11.26 in midday trading (after trading as high as $11.79 in the morning). We think the market will continue to take a shine to Alcoa's prospects.
Shanghai Security News announces that Chinalco Promises to eliminate horizontal competition with JiaoZuo WanFang (000612) within five years. Data indicate that as a giant shareholder of JiaoZuo WanFang, Chinalco holds 24% shares of JiaoZuo WanFang while JiaoZuo WanFang itself only accounts for 10.67%. Both the two parties engage in electrolytic aluminum business at present.
More than 100,000 tonnes of aluminum flowed into London Metal Exchange-registered warehouses in Vlissingen, latest LME data showed, in another big increase that has inflated stocks in the Dutch port to over 700,000 tonnes. LME aluminum stocks rose by 113,450 tonnes, with all of that accounted for in Vlissingen, bringing total LME-housed aluminum to around 4.67 million tonnes, just shy of a record level above 4.71 million tonnes hit in May.
SHFE 1111 aluminum contract prices edged lower after SHFE 1111 aluminum contracts became the most actively traded contract on Monday due to the situation where stronger near-term contracts and weaker forward contracts prevailed in the SHFE aluminum market. Daily trading volumes of SHFE 1111 aluminum contract were below 150,000 lots due to cautious trading sentiment, and most deals were made by investors in an attempt to minimize risks, with prices mainly moving between RMB 17,000-17,450/mt over the past week. Low spot aluminum inventories helped support SHFE aluminum prices, but a lack of confidence caused investors to mainly made short-term transactions, which dampened upward momentum in SHFE aluminum prices. In this context, SMM expects SHFE aluminum prices to find support at RMB...
Aluminum producer Century Aluminum Co. said Thursday that its second-quarter net income jumped as the company shipped more aluminum than it did a year earlier. Revenue climbed 27 percent to $366.3 million from $287.9 million a year earlier. Analysts polled by FactSet were hoping for $365 million.
