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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Ess Dee reported dismal Q1FY12 with sales of Rs 1.75 billion, about 2% down on QoQ basis, nearly 9% below expectation. Elara Capital has given a buy recommendation on Ess Dee Aluminium with a target price of Rs 501.
South Korea's Public Procurement Service, a state commodities stockpiling agency, said Wednesday that it has bought two lots of aluminum totaling 2,000 metric tons as well as smaller lots of zinc and nickel. In one tender, the PPS purchased 1,500 tons of Western-origin aluminum on a cost, insurance and freight basis at a premium of $104/ton over the London Metal Exchange price from LG Corp.(003550.SE). In a second tender, the agency bought 500 tons of Western-origin aluminum from Daewoo International Corp. (047050.SE), also CIF, at a premium of $118/ton. Three-month aluminum opened at $2,370/ton on the LME Wednesday.
Preben Bruun-Nyzell, 40, is the new Chief Financial Officer at Qatalum. He took over from Olaf Meissner on August 1, 2011.
A sharp rise in inventories on Tuesday and slowdown news of GDP in Europe led to a sharp decline in Aluminium prices on MCX. The inventories gained by 21675 tons to 4579350 tons on London Metal Exchange. The metal inventories have gained 3% since 1 August.
Fresh facts have emerged on how government-owned Aluminium Smelting Company of Nigeria (ALSCON) Ikot Abasi, Akwa Ibom State, set up with $3.2 billion, was sold to a Russian firm, Russal, for a paltry $130 million. This was disclosed to the Senate Ad-hoc Committee probe panel led by Senator Ahmad Lawan looking into activities of the Bureau of Public Enterprises (BPE) by the Bancorp Financial Investment Group (BFIG) Corporation of America, insisting that handing over of the company to Russal was fraudulently done.
Hirakud Smelter Expansion: The Smelter expansion at Hirakud from 155 KTPA to 161 KTPA was completed in Q4 FY11. A further expansion from 161 KTPA to 213 KTPA, along with a 100 MW Captive Power Plant [CPP] will be commissioned in early 2012. The next phase of expansion of the Smelter from the proposed 213 KTPA to 360 KTPA, with a corresponding increase in CPP capacity from 467.5 MW to 967.5 MW is under evaluation. The environmental clearance is in place.
Hindalco reported 21% increase in bottomline to Rs. 644 crore for the quarter ended June 2011 compared to corresponding previous year period on a growth of 16% in topline to Rs. 6846.41 crore despite flat volumes mainly on the back of higher LME prices.
Hydro's technology center in Årdal, Norway, is installing a unit to remove sulfur dioxide (SO2) from the flue gas from aluminium production. The unit will reduce annual emissions of SO2 from the technology center by 200 metric tons. It is the first industrial application of this technology.
Aluminum Corp of China Limited (NYSE: ACH) reported a 127.8% surge in its pretax profit in the first half. Its revenue climbed 10.9% in the first half. ACH shares dropped 0.57% to $18.09 in after-hours trading.
Russia's UC RUSAL , the world's largest aluminium producer, said on Wednesday that it had registered the issue of up to 30 billion roubles ($1.04 billion) worth of interest-bearing non-convertible bonds.
Landsvirkjun's operating revenue amounted to USD 217.9 million, which is an increase of 20.3% compared to the same period last year. Profit after tax amounted to USD 23.4 million, compared to USD 15.7 million for the same period last year. Hordur Arnarson, the CEO: „The improvement in the operating results during the first six months of the year is satisfactory, and is mainly explained by increased income due to renegotiations on energy prices and increasing aluminium prices. At the same time, there has been little increase in operating expenses between periods.
The ex-dividend date for Reliance Steel and Aluminum (NYSE:RS) is tomorrow, August 17, 2011. Owners of shares as of market close today will be eligible for a dividend of 12 cents per share. At a price of $40.87 as of 9:32 a.m. ET, the dividend yield is 1.2%.
Aluminum Corporation Of China’s (Chalco) (601600,2600.HK) private placement was approved by the China Securities Regulatory Commission in April 2010, reports Yicai.com, citing a company filing. Chalco previously planned to raise up to 10 billion yuan by issuing no more than one billion A shares at a minimum price of 9.28 yuan per share. The company hoped the issuance would fund aluminum oxide production, mineral processing system expansion and supplement its working capital.
Following the success with other comparable regional projects such as Qatalum in Qatar and Dubal in the UAE, Schoeck ME FZE will be supplying their ComBAR fiberglass reinforcement bars to the Ras Az Zawr aluminum smelter project in Jubail of Saudi Arabia.
The Arbitration Court of Krasnoyarsk region has appointed on September 1 meeting the claim IDC Siberia to the Krasnoyarsk Aluminum Plant to conclude a contract for electricity transmission. The preliminary hearing took place on August 10th 2011. Siberia IDC requires a court to KrAZ contract on the transfer of power from the March 15th 2011 with the appointment of the term of January 1st 2011 Statement of Claim was received by the court May 12th 2011. In September 2009 Mr Alexey Arnautov director of Rusal, the aluminum company's business said that KrAZ going to pay for electricity directly with the Federal Grid Company bypassing intermediary services IDC Siberia. IDC does not provide services to the plant of electric power transmission as KrAZ connected to networks of FGC. IDC also belongs...
Reuters reported that aluminum prices made gains in July only to fall sharply in early August as global demand concerns weighed, and while further falls are possible near term, the threat to supply from higher cost producers may lend support. Mr Nick Moore global head of commodity strategy at RBS Global Banking and Market said that "Prices where they are mean around 10% of the aluminum industry is losing money on a cash cost basis. High cost producers in China and Europe are now being impinged."
CapitalVue reported that Yunnan Aluminum plans to form a wholly controlled subsidiary in Hong Kong for USD 29.8 million to develop and integrate overseas resources and serve as a financing platform for overseas projects.
Aluminum producer Alcoa has started negotiating with Santee Cooper over its electricity rates, saying it can’t continue to pay at the current rate. “When you look at what our rate’s been recently, it’s much too high for us for a long-term solution. We’ve got to do something different,” said Alcoa plant manager Mike Rousseau. Rousseau declined to directly state that the plant could close. Alcoa has idled plants in the past because of increasing energy costs; it idled a Washington state plant in 2001 because of energy costs and decided in 2004 not to reopen it when it couldn’t get concessions from the workers. Santee Cooper Vice President of Corporate Communications Laura Varn said that the utility and Alcoa are "working together very closely and doing all that we can do to find common...
