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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The SMM China Aluminum Ingot Trade Index during July 18th to July 22nd slightly rose to 51.4%, up by 6.3% from previous week, and broke through the balance line of 50%. As domestic spot aluminum inventories continuously fell and will keep falling in the short term, goods holders were holding goods to build up inventories, which led to continuously climbing aluminum prices. Though downstream processors still purchased on an as-needed basis, inquiries from purchasers increased due to limited spot aluminum supply. As a result, market sentiment grew during this survey period and an optimistic trend was shown. 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...
On July 25th, market sentiment turned cautious after US president Obama failed to reach an agreement for debt ceiling issue with Republicans in the Congress. As a result, the US dollar index lost upward momentum and finally closed at 74.115, down 0.17% despite a downgrade of Greek debt rating by Moody’s. LME aluminum prices fluctuated upward at the tail of Asian trading hours supported by strong aluminum prices in China, and hit USD 2,624/mt, a new high since June 15th. Support for aluminum prices was strong at the moving averages and upward momentum remained. LME aluminum prices finally closed at USD 2,615/mt, up USD 25/mt or 0.97%, making it the only metal that gained overnight. Total positions decreased by 1,170 lots to 681,101 lots. SMM expects aluminum prices to consolidate at USD...
After LME aluminum prices gained a huge 2% on July 22nd, SHFE aluminum prices opened higher on July 25th at RMB 17,660/mt in response. Tight spot aluminum supply also pushed SHFE aluminum prices to test RMB 17,700/mt. However, after Shanghai Composite Index plunged by nearly 3%, all base metals except aluminum dipped. At the tail of trading, SHFE aluminum prices also fell and erased daily gains due to short selling. Finally closed price was RMB 17,590/mt, up RMB 5/mt or 0.03% from previous trading day. Total positions of most active SHFE aluminum contracts increased by 4,908 lots to 123,980 lots. Though most active SHFE aluminum contract prices fell below the 5-day moving average impacted by bearish sentiment in other metals markets, aluminum was the only base metal that gained on the...
Base metals closed mostly lower on the London Metal Exchange Monday, with only aluminum managing to shrug off broad-based risk aversion to end the day in positive territory. At the PM kerb close, LME three-month aluminum was 1.1% higher at $2,619.50 a metric ton after hitting a near-six-week high of $2,624/ton in earlier trade. Flagship copper closed 0.2% lower at $9,655/ton. Aluminum's second consecutive close above $2,600/ton Monday signifies a technical breakout and should trigger further gains, said analysts. However, if the uptrend falters, the metal could be vulnerable to declines through $2,451/ton, said Sucden Financial analyst Brenda Sullivan.
After LME aluminum prices gained a huge 2% on July 22nd, SHFE aluminum prices opened higher on July 25th at RMB 17,660/mt in response. Tight spot aluminum supply also pushed SHFE aluminum prices to test RMB 17,700/mt. However, after Shanghai Composite Index plunged by nearly 3%, all base metals except aluminum dipped. At the tail of trading, SHFE aluminum prices also fell and erased daily gains due to short selling. Finally closed price was RMB 17,590/mt, up RMB 5/mt or 0.03% from previous trading day. Total positions of most active SHFE aluminum contracts increased by 4,908 lots to 123,980 lots. Though most active SHFE aluminum contract prices fell below the 5-day moving average impacted by bearish sentiment in other metals markets, aluminum was the only base metal that gained on the...
German aluminium output of 428,369 tonnes between January and May was up 5.3 percent from the same period a year earlier, industry association GDA said on Monday. "The outlook for aluminium remains optimistic because customer industries are also continuing to develop positively," said GDA managing director Christian Wellner in a statement.
NORSK HYDRO : Second quarter 2011: Results rise on higher volumes and prices Hydro had underlying earnings before financial items and tax of NOK 1,906 million in the second quarter, up from NOK 1,448 million in the first quarter. Higher realized alumina and aluminum prices combined with higher volumes supported underlying results for the quarter.
Billionaire Anil Agarwal may face problems on July 27 when he addresses shareholders at the annual general meeting of his London-listed mining company Vedanta Resources. The UK-based pension fund advisory PIRC and Aviva Investors, a shareholder in Vedanta, have urged members to oppose the resolution that seeks approval to award bonuses to three executives of Vedanta, including chairman Anil Agarwal. The mining major has sought shareholders' nod for raising the total remuneration for Agarwal by 26% to £1.7 million.
China Knowledge reported that the combined output of the ten nonferrous metals was 16.9 million tonnes in the first 6 months of this year up 9.8% YoY. According to the latest statistics released by the National Development and Reform Commission, the growth was 21.5 percentage points lower than that in the same period of 2010. The output of electrolytic aluminum rose 5.6% YoY to 8.64 million tonnes in the H1 slowing from 45.6% growth in the H1 of 2010. There was YoY increase of 13.9% in the output of copper, 25% increase in the output of lead, 6.1% increase in the output of zinc and 17.8% increase the output of alumina. In June, the prices of nonferrous metals rebounded from May. The average prices of spot copper and electrolytic aluminum stood at CNY 69,758 and CNY 17,241 per tonne up 2%...
After hitting a high of $2803 on 3rd May 2011 at the London Metal Exchange (LME) , the price of Aluminium has corrected by nearly 12% and this correction provides a good opportunity for the bulls. Decreasing supplies and an ever increasing demand also add to the positive bias for the metal. The Copper and aluminium ratio has rebounded to near record levels and given our expectation of rising copper prices this should be supportive of aluminum. said Mr Ivan Szpakowski analyst at Credit suisse. “Aluminum is set to play catch up and redress the imbalance,” says Nick Moore, head of commodity strategy at RBS. India’s Sharekhan Ltd, a leading brokerage, has initiated a 'BUY' call at $2,466 as per a report. At the Multi-Commodity Exchange of India (MCX), Aluminium had hit a high of 125.10 on 4th...
Orders to draw aluminum from warehouses monitored by the London Metal Exchange rose to the highest level in more than two weeks, led by increases in South Korea and Malaysia. Canceled warrants, as the orders are known, rose 29,075 metric tons, or 7.7 percent, to 405,850 tons, the highest level since July 7, exchange data showed today. A total of 20,625 tons were canceled at Gwangyang, South Korea, while 15,475 tons were booked at Johor. Aluminum stockpiles declined 10,325 tons to 4.38 million tons, the lowest since Jan. 10.
Aluminum producer Rio Tinto Alcan said Monday it remains cautious about the short term outlook for aluminum although demand should continue rising in the long term and contribute to a doubling of the company's profit margin. "We remain cautious of the short-term outlook" for aluminum, Jacynthe Cote, chief executive of Rio Tinto Alcan, a division of Anglo-Australian mining titan Rio Tinto PLC /quotes/zigman/182541/quotes/nls/rio RIO +0.17% , said in a presentation. The "physical market remains tight but inventories remain at high levels." Nevertheless, urbanization and development in the BRIC countries continue help drive long-term aluminum demand and boost currently low levels of per capita aluminum consumption globally. There's "still a lot to come for aluminum," Cote said. Global...
The company said that its shipments (metric tons shipped) for the second quarter were 82,174 metric tons in the U.S., up 7% sequentially, and 69,309 metric tons in Iceland, up 3% sequentially. These results are consistent with the estimates the company provided during its April earnings call with investors. However, U.S. Production for the quarter was below expectations, driven by Hawesville's slower than anticipated return to full stable operations following the restart of its curtailed potline earlier this year, the company said.
Century Aluminum Co. (CENX: News ) said Monday that it expects to report second quarter net income of $23 million to $25 million, or $0.23 to $0.25 per share, and adjusted net income for the quarter of $25 million to $27 million, or $0.25 to $0.27 per share. Analysts polled by Thomson Reuters currently expect the company to earn $0.40 per share for the second quarter. Analysts' estimates typically exclude special items. The company estimates it incurred about $0.12 per share of unabsorbed costs and restart expenditures during the second quarter related to these production inefficiencies at Hawesville.
Chinese aluminum output has hit record highs but consumption is even stronger, helping to support prices, say analysts with Harbor Intelligence. Daily primary aluminum production rose 4.9% in June to a record high of 19 million annualized tons, Harbor says.
Aviva Investors will oppose remuneration report over doubts about Vedanta's corporate social responsibility Amnesty International has launched a scathing attack on Vedanta, accusing the London-listed Indian miner of disregarding human rights and failing to protect the environment. The criticism comes days before Vedanta's annual meeting in London, where campaigners are expected to stage noisy protests about the group's activities on the subcontinent. Aviva Investors, an influential City shareholder, will oppose the remuneration report, on the basis of doubts about its corporate social responsibility. Aviva says executive bonuses are not adequately linked to meeting internationally approved "green" targets. Vedanta was unavailable for comment, but in the past, chief executive HS Mehta has...
The World Primary Aluminium production improved by 6.2% as per the latest figures from International Aluminium Institute (IAI). The total production in the first 6 months of this year was 12.62 million tons as compared to 11.88 million tons in Jan-June 2010. A production of 1.277 million tons was noted in Jan-June 2011 in Asia (excluding China), as against 1.24 in Jan-June 2010, marking a rise of 3%. A noticeable increase in European Primary Aluminium production was noted.
National Aluminium Company (NALCO) touched an intraday high of Rs 82.65 and an intraday low of Rs 80. At 12:32 hrs the share was quoting at Rs 81.70, up Rs 0.75, or 0.93%. It was trading with volumes of 604,530 shares, compared to its 5-day average of 245,411 shares, an increase of 146.33%. In the previous trading session, the share closed up 0.43% or Rs 0.35 at Rs 80.95.
