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 1110 aluminum contract prices opened lower at RMB 18,380/mt on July 29th. After total positions sharply decreased by over 19,000 lots due to profit-making by the longs, SHFE 1110 aluminum contract prices plunged and hit RMB 18,200/mt. Finally closed price was RMB 18,210/mt, down RMB 245/mt or 1.33% from previous trading day. SHFE aluminum prices erased gains of the previous day to the RMB 18,200/mt mark after 3 successive days of rising. Falling aluminum prices in turn cooled down investor confidence and forced some longs to exit the market. However, support for aluminum prices at the 5-day moving average remained strong, and SMM expects aluminum prices to fluctuate in the short term. Latest SHFE aluminum inventories fell by 22,062 mt to 181,715 mt. Though aluminum prices...
Vedanta Aluminum Limited will invest about INR 100 billion to complete its aluminum smelter and power plants at Jharsuguda. The company has so far invested around INR 40,000 crore in its Lanjigarh and Jharsuguda projects in Orissa. It has set up Greenfield alumina refinery with a capacity of 1 million tonne per year at Lanjigarh in Kalahandi. VAL also plans to set up an Aluminum Park in Jharsuguda that will co locate multiple downstream industries. The company plans to increase smelting capacity at its Jharsuguda plant to 1.75 million tonne from its current 500 kilo tonne by 2013 to 2014. Jharsuguda is also the site of Sterlite Energy’s 2400 MW power plant, a group company of Vedanta Resources. It has achieved 2415 MW in the two power plants at Jharsuguda. It hopes to achieve 3615 MW by...
Vedanta Resources Plc announced aluminum production for the Q1 ended June 30th 2011. Aluminum production was 23% higher at 173,000 tonnes in Q1 FY2011 to 2012 as compared with the corresponding prior quarter primarily due to 46% higher production at the 500 kilo tonne per annum Jharsuguda-I smelter. The Korba-II smelter continues to operate at its rated capacity.
China's aluminum prices have risen 4.1% so far this week to hit 15 month high due to steady demand and speculation and this could drive up prices of the metal on the London Metal Exchange. Traders and analysts said that strong prices are raising worries that Beijing's commodity manager, the State Reserves Bureau will release aluminum stockpiles to ease domestic prices as China aims to fight inflation in the country, the world's top aluminum consumer.
Antaike hac reported that Henan province has cut power supply to smelters in Louyang city, though it didn’t disclose details. Henan province accounts for almost a quarter of Chinese output and 43% of the 4.3 million tonne of that output purchases its power. Chinese aluminum semis demand has been strong enough to absorb current smelter production and erode SHFE stocks. The build out of affordable housing is also boosting construction demand. So any drop in smelter output due to power cuts would tighten the market. SHFE 6 month time spreads reflect this having tightened to trade in USD 70 per tonne backwardation and SHFE prices are trading at 15 month high. This may also be why there is market chatter about the Chinese State Reserve Bureau possibly releasing some of the 590 Kilo tonne of...
According to the General Administration of Customs, Chinese aluminum fluoride exportation reaches 9,199 tons in June up by 37.1% compared with the previous month. Chinese total exportation of aluminum fluoride in the first half year reaches 47,889 tons. Since this end of June, domestic aluminum continually dropped to ?9,700 -9,800 per ton thus making the foreign customers more likely to satisfy. The exportation is gradually on the rise. From the end of July, the aluminum fluoride price gradually becomes stable and the exportation amount will further increase. In addition, data indicates that the total exportation of the first half year amounts to $ 64,018,027.
Citigroup upgraded Noranda Aluminum Holding Corp. (NYSE:NOR) to buy from hold, with a $19 price target. The bank sees 2011 EPS of $1.63, vs. consensus estimates of $1.51 per share, and 2012 EPS of $1.80, vs. consensus estimates of $1.65 per share. Noranda Aluminum has a potential upside of 19.7% based on a current price of $14.31 and an average consensus analyst price target of $17.13. Noranda Aluminum should find initial support at its 50-day moving average (MA) of $14.14 and further support at its 200-day MA of $13.96.
Vedanta Aluminium Ltd (VAL) will invest about INR100bn ($2.2bn) to complete its aluminium smelter and power plants at Jharsuguda.
Talent management solutions provider Lumesse has been chosen by Norsk Hydro to implement a global talent acquisition (e-recruitment) system. Hydro, a global supplier of aluminium, employs 23,000 people in more than 40 countries.
In trading on Friday, shares of Century Aluminum Co. (NASDAQ:CENX) crossed below their last reported book value — defined as common shareholder equity per share — of $12.55, changing hands as low as $12.52 per share. Century Aluminum Co. shares are currently trading down about 0.1% on the day.
Shares of Alcoa, Inc. (NYSE:AA) closed the trading session at $14.83 below calculated support at $15.10 breaking current long setups, raising concerns by the bulls, as this move might give the bears the upper hand.
London based Vedanta Resources PLC has earned a record $ 1,055 million in first quarter ended 30 June 2011.
Press Metal Bintulu Sdn Bhd (PMB), a wholly-owned subsidiary of Press Metal Bhd, has secured a RM400mil syndicated term loan facility to expand the second phase of its aluminium smelting plant in Samalaju, Sarawak. When fully commissioned, the new plant is expected to triple PMB's smelter capacity in Malaysia to 360,000 tonnes.
SHFE stocks this week showed another build in copper (+5.3Kt) which we suspect reflects better spot availability following the movement of bonded warehouse stock, while Aluminium stocks fell 22.1Kt, Zinc fell 155t and Lead rose 831t. In terms of metal news, the focus remained on the strike at Escondida mine in Chile, which has now entered its seventh day as striking union workers brought the facility to a halt.
Melic Sea positively respond to National Development and Reform Committee’s strategic goal to establish new aluminum industrial base in Mongolia, Shanxi, Ningxia etc. on the basis of being equipped with development condition for industrialization. It is reported that since the early 1998, Melic Sea Group has contributed to the study and development of extracting alumina from coal ash. It obtained proprietary intellectual property right and nine patent technologies. Meanwhile, the item has approved by the National Development and Reform Committee and listed by the Ministry of Science and Technology as the key project of our national “863” western new material industrialization. The first -stage project is estimated to be effective in September next year with 200,000 tons alumina. The rest...
Reliance Steel & Aluminum Co. said Thursday that second-quarter profit surged more than 60 percent on demand for its products by companies in energy, farming, aerospace and other industries. CEO David H. Hannah said sales volume and pricing "held up reasonably well" considering that mill prices for the metals it sells fell during the second quarter.
Alcoa Foundation announced today that it will sponsor 25 employees from the Company’s operations in Australia, Brazil, Canada, China, Hungary, Iceland, Norway, Russia, Spain, Suriname and the United States on Earthwatch Institute expeditions to Brazil and China. The employees, who volunteered to become Earthwatch Fellows, will venture to Rio Cachoeira Natural Reserve in Paraná State, Brazil, and the Gutianshan National Nature Reserve in Zhejiang Province, China, to become sustainability leaders. This is Alcoa Foundation’s ninth year supporting Earthwatch expeditions.
Most active SHFE 1110 aluminum contract prices opened lower at RMB 18,380/mt and later plunged to hit RMB 18,200/mt on July 29th. Finally closed price was RMB 18,210/mt, down RMB 245/mt or 1.33% from previous trading day. Total positions sharply decreased by over 19,000 lots due to profit-making by the longs. SHFE aluminum prices erased gains on the previous day to the RMB 18,200/mt mark after 3 successive days of rising. Falling aluminum prices in turn cooled down investor confidence and forced some longs to exit the market. However, support for aluminum prices at the 5-day moving average remained strong, and SMM expects aluminum prices to keep falling in the short term.
