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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Alcoa Inc. Chairman and CEO Klaus Kleinfeld said Wednesday a long-term solution to the federal budget deficit will require both spending cuts and increased revenue.
Aluminum Corporation of China (NYSE:ACH) closed Tuesday's negative trading session at $19.91. In the past year, the stock has hit a 52-week low of $19.21 and 52-week high of $26.80. Aluminum Corporation of China (ACH) stock has been showing support around $19.57 and resistance in the $20.09 range. Technical indicators for the stock are Bearish. For a hedged play on Aluminum Corporation of China (ACH), look at the Jan '12 $19.00 covered call for a net debit in the $17.91 area. That is also the break-even stock price for this trade. This covered call has a duration of 178 days, provides 10.05% downside protection and an assigned return rate of 6.09% for an annualized return rate of 12.48% (for comparison purposes only). Aluminum Corporation of China (ACH) has a current annual dividend yield...
Exploration Orbite (TSX VENTURE:ORT.A) is pleased to announce that it has filed an application for a new patent on another radical innovation for separation methods used for iron-aluminum mixtures. The provisional patent application (US 61/508,950) was initially filed with the United States Patent & Trademark Office by Montreal firm Bereskin & Parr.
Anger erupted inside and outside Vedanta's annual meeting on Wednesday as campaigners protested against the mining company's environmental and human rights record. Scores of people picketed the building where the gathering was being held in London and chanted slogans against the firm, which has been at the centre of a row over corporate social responsibility. The board, led by Anil Agarwal, whose family control 62% of the shares, faced a barrage of hostile questions from shareholders and representatives of lobby groups. More than 13% of shareholders failed to back the remuneration report, while more than 7% voted against the re-election of head of the firm's health and safety committee, Naresh Chandra.
Eliminating health coverage to retirees from its idled Ravenswood plant has once again boosted Century Aluminum's profits, the company said. Changes Century made to its West Virginia retiree health care program boosted profits by $11 million in the second quarter, the company said in a statement.
Kaiser Aluminum Corporation (Nasdaq:KALU - News) today reported net income of $5 million or $0.24 earnings per diluted share for the second quarter 2011 compared sequentially to $11 million, or $0.59 per diluted share for the first quarter 2011 and $0 million or $0.01 earnings per diluted share for the prior year second quarter. Excluding the impact of non-run-rate items, adjusted net income and earnings per diluted share were $12 million and $0.63 for the second quarter 2011, a sequential improvement from adjusted net income and earnings per diluted share of $8 million and $0.42 in the first quarter of 2011 and slightly lower than $13 million and $0.68 in the prior year quarter.
Noranda Aluminum Holding Corporation (NYSE: NOR) today reported results for second quarter and first six months of 2011. Noranda reported second quarter 2011 net income of $47.4 million ($0.69 per diluted share), compared to second quarter 2010 net income of $6.9 million ($0.14 per diluted share). Excluding special items, Noranda reported second quarter 2011 net income of $31.2 million ($0.46 per diluted share). Excluding special items, second quarter 2010 net income was $10.9 million ($0.22 per diluted share).
US Department of Commerce announced on July 27 that June durable goods orders fell 2.1% MoM, which was a second fall during recent three months, and was opposite from the expected 0.3% gain. This indicated a dim future for the US industry. Meanwhile, as no valid agreement has been reached, investor confidence fell due to worries towards a US default. As risk aversion sentiment grew, the US dollar index rallied significantly overnight to above 74 and finally closed at 74.101, up 0.77%. LME aluminum prices closed USD 4.5/mt lower overnight from previous trading day as a result of rebounding US dollar index and weak US manufacturing data. LME aluminum prices hit USD 2,675.3/mt, a new high since June 9th during Asian trading hours, and closed only slightly lower at USD 2,638/mt supported by...
Most active SHFE 1110 aluminum contract prices again opened higher at RMB 18,010/mt on July 27. In the morning, most active SHFE 1110 aluminum contract prices successfully broke through RMB 18,000/mt after 11: 00 a.m. and hit RMB 18,400/mt. At the tail of trading, most active SHFE 1110 aluminum contract prices slightly fell due to profit-making, and finally closed at RMB 18,310/mt after surging by RMB 440/mt or 2.46%. Total positions of most active SHFE aluminum contracts drastically increased by 54,536 lots to 212,894 lots. With both transaction volumes and prices rising, most active SHFE 1110 aluminum contract prices are expected to reach RMB 18,500/mt in the short term. Mainstream traded prices of spot aluminum in Shanghai on July 27th were between RMB 18,190-18,210/mt, with premiums...
UK Alfed president Colin Davies warned of the impact of energy costs during his speech at a Parliamentary lunch. He told the Alfed annual lunch at the House of Lords, London, UK that in a recent budget, the government introduced a Climate Change Levy rebate for electricity and gas which would be reduced from 80% to 65%, as from 1 April 2011. “That decision is now costing our industry millions of pounds in additional costs,” Mr Davies said. He welcomed an announcement that as from 1 April 2013, the maximum rebate for electricity will return to 80%, but gas will remain at 65%. Ministers need to be aware that these are costs that the primary aluminium sector cannot pass-through, Mr Davies said. “That is why our primary aluminium sector strongly advocates a switch to low carbon energy, which...
Kazakhstan's first electrolysis plant may soon be able to completely give up on imported raw materials as the country is expected to launch the production of anodes required for obtaining pure aluminium. The implementation of this economically important project is going ahead of schedule with over eight hundred people engaged in the construction of this facility. The heart of the anode production is made up of two huge ovens with the length of 216 meters each. The facility is scheduled to be commissioned in September next year, as its construction is under special control of the head of state.
East Kutai regent Isran Noor said Wednesday that a Dubai-based company and an Indian aluminum producer had started the development of an aluminum smelter in Muara Wahau, East Kutai, East Kalimantan. In addition to the smelter, the two companies — Mineral, Energy, Commodities (MEC) Coal and National Aluminum Co. (Nalco) — would also set up a power plant with a total capacity of 1,400 megawatts and 142 kilometers of railway track connecting Muara Wahau and a port in Lubuk Tutung, Isran reported. “The total investment for the project reaches US$5.6 billion. They have started the development and we hope that by the end of 2012, the smelter can begin operating with a total capacity of 500,000 metric tons per year,” he told reporters after a discussion on coal mining in Jakarta.
Erdenes Tavan Tolgoi, the Mongolian state-run company developing part of the country's biggest coal reserve, signed a $250 million supply contract with companies including Aluminum Corp. of China. Erdenes TT agreed to sell coal to Chinese buyers including Chalco, as the company is also known, and Jinan Iron & Steel, said Baasangombo Enebish, executive director of Erdenes MGL, parent company of Erdenes TT. The Chinese companies, in turn, agreed to resell 30 percent of the coal to Japan's Mitsui and Itochu and Korea Resources Corp.
State-run National Aluminium Co (Nalco) wants non-core areas to contribute a fourth of its revenue through an ambitious diversification plan covering areas like nuclear energy, thermal units and other metals, chairman B.L. Bagra has said. "In the power sector alone, Nalco has planned to invest a little less than Rs.1,000 crore from its own resources during this fiscal. Nalco is also interested to invest in non-aluminum businesses like copper, uranium and caustic soda," Bagra told IANS in an interview. The Bhubaneswar-based company and India's third largest aluminum producer also wants to become a major independent power producer -- not just in conventional coal-based units but of nuclear energy and wind power as well, said Bagra, also the managing director. "As far as our diversification...
Western world unwrought aluminum stocks dropped to 1.474 million tonnes in June compared with a revised 1.573 million in May. Provisional data from International Aluminum Institute figures showed that unwrought stocks stood at 1.190 million tonnes in June 2010. Total aluminum smelter stocks excluding finished end products dropped to 2.534 million tonnes at the end of June 2011 versus a revised 2.657 million in May 2011 and 2.252 million tonnes in June 2010.
The Shanghai Composite Index rose 0.76 percent or 20.47 points to close at 2,723.49 points today on transaction value of 92.08 billion yuan. The Shenzhen Component Index was up 0.90 percent or 108.33 points to close at 12,116.86 points today on transaction value of 77.08 billion yuan. The non-ferrous metals sector extended yesterday’s increase. The share prices of aluminum stocks rose on rising aluminum prices. Two aluminum stocks, Yunnan Aluminium (000807, 9.96, +10.06%) and Jilin Liyuan Aluminum (002501, 29.38, +10.00%) surged by their daily limits. Fujian Minfa Aluminium (002578, 15.40, +7.17%), Shandong Nanshan Aluminium (600219, 9.61, +5.37%) Jiangsu Alcha Aluminium (002160, 15.43, +5.32%) all rose above 5 percent. Aluminum Corporation of China (601600, 10.69, +2.99%) said it will...
Base metals on the Shanghai Futures Exchange gained Wednesday on the back of a weak dollar amid growing concerns over the debt situation in the U.S. Aluminum once again outperformed other metals as expectations of a steady rise attracted more speculative buying, while copper also gained due to supply concerns following a strike at BHP Billiton Ltd.'s (BHP) Escondida mine in Chile, the world's largest copper mine. Benchmark SHFE October copper settled 0.6% higher at CNY72,830 a metric ton, while benchmark October aluminum settled 1.9% higher at CNY18,210/ton. "Aluminum's fundamentals are getting better and better, and that means a foreseeable uptrend down the road, which brought in some speculative funds today," a trader at a foreign house in Shanghai said.
Rich in largely untapped natural resources and able to benefit from a low cost labor force, Vietnam has enjoyed 10-percent growth rates (although it has also suffered 11 percent inflation rates last year). The country has never been a major metals producer, but that could be about to change. Blessed with abundant bauxite, estimated in a Reuters article at between 5.6 billion tons and 8.3 billion tons, Vietnam could become the third-largest alumina producer in the world after Guinea and Australia. Not satisfied with being just a raw materials producer, the country has awarded the engineering, procurement and construction contract for two alumina projects in the central highlands to Chalieco, a subsidiary of state-owned Chinese Aluminum Corporation of China (Chinalco). Both plants are...
