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 London Metal Exchange Thursday said it has received an application to list a new brand under the aluminum alloy contract. The brand, JBMI, will be produced by JBMI International Ltd. at its Staffordshire, U.K., smelter, which has an annual capacity of 25,000 metric tons.
Hong Kong and Shanghai Banking Corporation Limited (HSBC) announced on July 21st that China’s PMI in July fell below 50% and hit a 28-month low. This indicates China’s manufacturing activities are cooling in 3Q and consumption will weaken, which dampened investor confidence. Later during the day, mixed initial unemployment claims last week, June leading indicators and May house price index were released in the US. Nevertheless, market confidence was boosted by a bailout plan reached during the European Union Summit for debt-ridden Euro-zone countries. As a result, the Euro broke through the moving averages and hit 1.4437. The US dollar index was pressed below 74 in response, and rebounded during the tail of trading to close at 74.038, down 0.85% while hitting a 45-day low. During European...
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices further plunged and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded and closed at RMB 17,505/mt, down RMB 135/mt or 0.77% from previous trading day. Total positions of most active SHFE 1110 aluminum contracts increased by 4,320 lots to 115,538 lots. Though SHFE aluminum prices opened lower and kept falling, the downward space will be limited due to tight spot aluminum supply. Therefore, SMM expects most active SHFE 1110 aluminum contract prices to test RMB 17,500/mt in the short term. Mainstream traded prices of spot aluminum in Shanghai on July 21st were between...
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices further plunged and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded and closed at RMB 17,505/mt, down RMB 135/mt or 0.77% from previous trading day. Total positions of most active SHFE 1110 aluminum contracts increased by 4,320 lots to 115,538 lots. Though SHFE aluminum prices opened lower and kept falling, the downward space will be limited due to tight spot aluminum supply. Therefore, SMM expects most active SHFE 1110 aluminum contract prices to test RMB 17,500/mt in the short term. Mainstream traded prices of spot aluminum in Shanghai on July 21st were between...
Nalco's plans to spread its arms across the globe aren't taking shape the way it had expected them to. The company's Rs 10,000-crore project to set up a 310,000-tonne aluminium smelter and a 750-Mw power plant in Iran continues to languish due to paucity of funds. "The geo-political situation in Iran is not favourable, due to which we have not been able to proceed with the financial closure for the project," said B L Bagra, acting chairman and managing director, and director (finance). This is not the first overseas project of Nalco to hit a roadblock. Around the same time when the Iran project was announced, the company spoke of setting up aluminium smelters in South Africa and Saudi Arabia. The African project was a Rs 15,000 crore, half a million tonne smelter, and a 1,250-Mw power...
Service center shipments in the US and Canada for both steel and aluminum increased from 2010 levels but the rate of growth slowed significantly. Inventory levels decreased in the US but increased slightly in Canada. 1. Aluminum Product Activity 134,300 tonnes of aluminum products were shipped by US service centers in June, an increase of 8.8% from the same month in 2010. For 2011 year to date, aluminum shipments were 763,600 tonnes an increase of 24.0% from the same period in 2010. Inventories of Aluminum products were 351,200 tonnes at the end of June 2011 an increase of 12.9% over June a year ago and a decrease of 3.2% from last month. At the current shipping rate, this represents 2.6 month supply an increase of 3.8% from a year ago and a decrease of 8.2% from last month. 2. Canadian...
Bnamericas reported that Canadian aluminum producer Rio Tinto Alcan has pledged to invest USD 50 million to install a cable production plant in Paraguay. Mr Francisco Rivas trade and industry minister of Paraguay said that "This will fill a major void we have, as we import all the cables that we are so highly dependent on." In June, Paraguay's President Mr Fernando Lugo received the study needed to negotiate with Rio Tinto Alcan over the installation of USD 4 billion aluminum plant in the country. The plant will be Rio Tinto's largest worldwide, with capacity to produce more than 670,000t/y. It is scheduled to start operating in 2016.
Reuters reported that the London Metal Exchange raised the minimum daily volume of metal that the larger warehouses it monitors must deliver in a bid to unblock long delays and said warehouses that do not comply could drop off its approval list. The LME approves a string of warehouses around the world where market participants pay rent to store industrial metals such as aluminum or copper in part for potential delivery against LME-traded futures. In times of oversupply when buyers are scarce, metals can be delivered into these warehouses.
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices plunged further and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded and closed at RMB 17,505/mt, down RMB 135/mt or 0.77% from previous trading day. Total positions of most active SHFE 1110 aluminum contracts increased by 4,320 lots to 115,538 lots. Though SHFE aluminum prices opened lower and kept falling, the downward space will be limited due to tight spot aluminum supply. Therefore, SMM expects most active SHFE 1110 aluminum contract prices to test RMB 17,500/mt in the short term.
SHFE aluminum prices opened lower and fell on July 21st. After aluminum prices broke RMB 18,000/mt, wait-and-see attitude turned strong among downstream buyers in south China. With inquiries rarely reported, spot aluminum prices in south China fell, with mainstream prices reported between RMB 17,970-18,000/mt. Interest of moving goods among cargo-holders also slightly weakened. As a result, market transactions were rarely reported due to low interest among both sellers and buyers.
Traded prices of spot aluminum in Shanghai on July 21st were between RMB 17,770-17,800/mt, with premiums of positive RMB 70-100/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,800-17,820/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,750-17,780/mt. Though SHFE aluminum prices fell during the day, spot aluminum prices kept rising and hit RMB 17,800/mt as supported by tight supply. Purchases were reported at small volumes among middlemen, but were rarely seen among downstream buyers. Market transactions were limited despite active sentiment.
South Korea, Asia’s third-biggest buyer of base metals, bought 4,000 metric tons of aluminum in a tender at the same premium as paid in the last tender in May, according to a state agency. The Public Procurement Service, the state-run body that manages strategic commodities, bought the so-called Western origin metal at $102 a ton over the London Metal Exchange official cash-settlement price from Daewoo International Corp. (047050), according to a notice on the agency’s website today. The high- grade, primary aluminum is due for shipment by Sept. 30. Aluminum for three-month delivery was little changed at $2,533 per ton on the LME at 4:25 p.m. in Seoul. The light- weight metal, used in automobiles, cans and window frames, has advanced 2.6 percent this year.
The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 4:24 p.m. New York time. The Merval Index climbed 0.9 percent to 3,324.99. Aluar Aluminio Argentino SAIC (ALUA AF), which produces and markets aluminum products for industrial uses, rose 1.3 percent to 4.83 pesos. Aluminum prices gained on the London Metals Exchange.
Rio Tinto Alcan has proposed finishing a tunnel that was bored about halfway of its intended distance as part of the Kemano Completion Project, which the provincial government killed in 1995 over environmental concerns. The proposal, now in its early stages, would involve building a second tunnel to complement an existing one that’s been operating for more than half a century, a company spokesman said on Tuesday. The proposed second tunnel would connect to existing infrastructure and serve as a backup for the current one, Mr. Henning said. “It’s not new capacity, but a contingency to support the original tunnel which is now close to 60 years old,” he said. Rio Tinto Alcan is pursuing the second tunnel project as its long-awaited $2.5-billion (U.S.) smelter upgrade moves into high gear in...
Aluminum Corporation of China (Chinalco), the parent of Aluminum Corporation of China (Chalco) (601600,2600.HK), jointly established a company, Chinalco Guangxi Rare Earth Development in Naning, Guangxi province, with Guangxi Non-ferrous Metals Group and Grirem Advanced Materials, reports National Business Daily. The joint venture, which has a registered capital of 500 million yuan, will invest in rare earth mining rights and in the processing, production and development of rare earth products.
Reliance Steel and Aluminum (NYSE:RS) closed Tuesday's winning trading session at $49.67. In the past year, the stock has hit a 52-week low of $34.58 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $49.09 and resistance in the $49.99 range. Technical indicators for the stock are Bearish and S&P gives Reliance Steel and Aluminum (RS) a very positive 5 STARS (out of 5) strong buy rating. For a hedged play on Reliance Steel and Aluminum (RS), look at the Sep '11 $49.00 covered call for a net debit in the $46.87 area. That is also the break-even stock price for this trade. This covered call has a duration of 59 days, provides 5.64% downside protection and an assigned return rate of 4.54% for an annualized return rate of 28.11% (for comparison...
Changing debt crises in Europe and the US have kept investors cautious, and they are optimistic that an agreement for Greek bailout will be reached during the European Union Summit. As a result, the Euro climbed on July 20. Later during the day, US National Association of Realtors (NAR) announced that existing home sales fell 0.8% in June, which though was higher than previous figure but was far below expectations. With rising Euro and weak US economic data, the US dollar index broke the daily moving averages and fell below 75, hitting 74.631 during the day. The US dollar index finally closed at 74.675 due to strong resistance, down 0.57%. During European trading hours, LME aluminum prices narrowly fluctuated between USD 2,540-2,560/mt. Though the US dollar index fell below 75, LME...
Most active SHFE 1110 aluminum contract prices opened higher at RMB 17,750/mt on July 20th, but quickly fell to RMB 17,575/mt after position increases by the shorts and profit-taking by the longs. Later SHFE 1110 aluminum contract prices rebounded and tested RMB 17,600/mt. Finally closed price was RMB 17,635/mt, down RMB 20/mt or 0.11% from previous trading day. Total positions of most active SHFE 1110 aluminum contract increased by 3,598 lots to 111,218 lots. Though SHFE aluminum prices erased earlier gains due to stronger short momentum at high levels, adequate support can still be found at the moving averages. Therefore, SMM expects SHFE aluminum prices to fluctuate at RMB 17,700/mt in the short term. Mainstream traded prices of spot aluminum in Shanghai on July 20th were between RMB...
