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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SHFE aluminum prices opened higher and broke RMB 17,700/mt on July 19, but began to lose support afterwards. However, spot aluminum prices climbed to above RMB 17,900/mt as cargo holders were holding goods. Mainstream traded prices were between RMB 17,900-17,950/mt. Though purchasers kept buying on an as-needed basis, supply shortage still sent spot aluminum prices higher with even no supply reported. The supply shortage also boosted market confidence for aluminum prices to reach RMB 18,000/mt.
Traded prices of spot aluminum in Shanghai on July 19 were RMB 17,750-17,780/mt, with premiums of positive RMB 60-80/mt over SHFE current-month aluminum contract prices. Low-iron aluminum was traded between RMB 17,780-17,820/mt. Traded spot aluminum prices in Wuxi were between RMB 17,750-17,780/mt. As SHFE aluminum prices kept rising, spot aluminum holders were increasingly bullish toward aluminum prices. Unwillingness to sell was also strong among goods holders due to low inventories. However, purchases were falling as spot aluminum prices rose. As a result, market transactions were quite limited.
South Korea is seeking 4,000 tonnes of high-grade London Metal Exchange (LME) registered primary aluminium ingot via tenders to close at 2 pm (0500 GMT) on July 21, the state-run Public Procurement Service said. The procurement agency said on its website (www.g2b.go.kr) that it would buy the metal of western origin with 99.7 percent purity.
Alcoa (AA: NYSE) By Credit Suisse ($15.85, July 15, 2011) With this note, Richard Garchitorena is assuming primary coverage of Alcoa. Our prior rating (Outperform) remains unchanged. We continue to believe Alcoa (ticker: AA) shares are undervalued given current aluminum prices, which we believe are sustainable at current levels. Given our positive house view on global industrial-production trends through the fourth quarter and into 2012, we view Alcoa as a more defensive way to play an economic recovery.
Aluminum demand data so far in 2011 has nudged the global market into deficit and is offering the basis for a “steady grind higher” in prices over the coming months, say analysts with Barclays Capital. Global production has hit record highs, Barclays says. However, the bank also cites “stunningly positive” aluminum demand, with global consumption growing 9% for the year to date, enough to leave the market balance in a mild deficit of 419,000 metric tons in the first half.
Aluminum companies have come down a little during the economic recovery's latest stumble. Demand from several industries has softened slightly but does remain strong in other areas. Demand for aluminum is still expected to grow 12% in 2011. Despite some recent headwinds, several companies still turned in, or are expected to turn in, second quarter profits.
Though Euro zone leaders tried to avoid a selective default or default by Greece, the second round of bailout plan for Greece still has not been reached. Therefore the European debt crisis continued with default risk rising. In addition, US default risks increased since no resolution in raising the government’s debt ceiling has been reached, and major credit rating agencies have successively announced that US credit rating will be downgraded if the country fails to lift its debt ceiling within the deadline. As a result, the US dollar index fell after slightly rising from the 10-day moving average, with an intraday high of 75.752. The US dollar index finally closed at 75.31, up 0.22%. With rising default risk in Europe and the US, LME aluminum prices struggled at USD 2,500/mt overnight and...
Late last week the London Metal Exchange announced a rule change impacting any warehouse holding over 900,000 tons of inventory. The new rule would require those warehouses, beginning in April of next year, to load out a minimum of 3000 tons per day rather than the current 1500 tons per day. The rules primarily impact the Detroit Metro warehouse, owned by Goldman Sachs, said to hold about 25% of the world’s aluminum supply. Early indications suggest some large metal buying organizations do not believe the rules go far enough to address what they see as a market distortion perpetuated by warehouse owners (e.g. Goldman Sachs in the case of Metro, the warehouse with 7-10 month delays, but also JPMorgan, Trafigura and Glencore).
As many as 60 Rio Tinto Alcan employees in Alma, Que. have been forced into early vacations or temporary layoffs as the metal giant tries to fix a problem with the formulation of produced aluminum. Equipment that's normally used to re-line aluminum pots has been diverted to fixing the problem, forcing the shutdown of the re-lining department for more than two weeks.
State environmental regulators have approved a proposed aluminum recycling waste landfill that some residents oppose as unsafe. The landfill would store salt cake, a recycling byproduct that emits toxic ammonia gas when it comes into contact with water. It would serve two Mount Pleasant aluminum recyclers, Tennessee Aluminum Processors Inc. and Smelter Services Corp. The state Department of Environment and Conservation had been considering the landfill permit request since February.
Alcoa ( AA ) recently announced its performance for the second quarter of 2011. While the company grew its top-line by more than 11% over the figure in Q1 2011 to reach $6.6 billion, the net income also grew over the period by about 6% to settle at $326 million. Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum and alumina, and its competitors include Rusal, Rio Tinto ( RIO ), BHP Billiton ( BHP ) and Chalco ( ACH ). We maintain a $19.50 price estimate for Alcoa , roughly 20% above the stock's market price.
World’s Aluminum Demand The aluminum’s increase in prices is coupled by the rising demands of consumers, as the law of demand dictates. Demands in London and the other countries in the east are ever more increasing. China, the top aluminum consumer of the world for its manufacturing industries, and the U.S. for its automotive and aerospace industries, are being improved. These two giant countries are considered the largest consumers of aluminum in the world.
The Largest Aluminum Producer Of The U.S. – Alcoa Inc. Due to the increasing demand for aluminum and lightweight metals of the U.S. and neighboring countries, Alcoa Inc., the third largest producer of aluminum in the world, reached remarkable increase in profits. The aluminum company obtained a revenue increase in this year’s second quarter financial reporting period. The earnings per share of the company rose from 13 to 28 cents, according to Alcoa’s financial data in New York. The increase in profit of the said company does not include its large restructuring, debt tender offers and other offers. Summing it up, it could total to 32 cents a share. Of course, the 27% increase in sales is a very big factor in achieving this profit.
The seventh China international Aluminum Exhibition (Hereinafter referred to as "aluminum exhibition") was held in Shanghai International Expo Centre on July 13th to 15th of 2011 year. There were many exhibiters and audiences from all over the word gathered in the hall of E5, E6 and E7 Shanghai International Expo Centre sharing aluminum development event. This event serviced more than 10,000 special audiences and buyers from more than 80 countries.
China International Aluminum Industrial Exhibition was held at Shanghai New International Expo Centre. Thirty people from China Aluminum Network rushed to Shanghai, and gave a whole report from the beginning to the end. The reporter of China aluminum Network walked into the platform of LPSK, manager Zhu received the interview. Founded in 1993, LPSK is a Taiwan individual proprietorship professionally engaged in producing, processing, installing and selling Aluminum materials and industrial Aluminum products, it has been listed in Shenzhen on 12 January, 2010. In the interview we learned that LPSK mainly design and develop daily Aluminum products, but also has a wholly-owned subsidiary of MiND Aluminum, which is mainly engaged in producing industrial Aluminum materials.
Today’s traded prices for spot aluminum in Shanghai were RMB 17,700-17,740/mt, with premiums of positive RMB 70-100/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,720-17,750/mt. Traded prices for spot aluminum in Wuxi were RMB 17,680-17,730/mt. As SHFE aluminum prices surged, spot aluminum prices climbed to above RMB 17,700/mt. Spot premiums over prices of SHFE current-month aluminum contract 1108 also jumped. With limited supply, the middlemen were actively buying goods. However, aluminum buyers in Wuxi were cautious towards purchases, with mainstream traded prices falling below RMB 17,700/mt. General market sentiment was active.
Today the most active SHFE 1109 aluminum contract prices opened slightly higher at RMB 17,535/mt. During the day, after the longs gained confidence, SHFE 1109 aluminum contract prices surged and hit 17,720/mt, a recent new high. Total positions of SHFE 1109 aluminum contracts decreased by 1,890 lots. Meanwhile, positions of SHFE 1110 aluminum contracts hugely increased by 23,566 lots, indicating position holders were actively moving their contracts. Finally closed price for SHFE 1109 aluminum contracts was RMB 17,695/mt, up RMB 180/mt or 1.03% from previous trading day. With strong support from the longs, aluminum led SHFE metals to gain during the day. As market players were confident towards RMB 18,000/mt, market transactions hugely increased. SMM expects SHFE 1110 aluminum contracts...
Today the most active SHFE 1109 aluminum contract prices opened slightly higher at RMB 17,535/mt. During the day, after the longs gained confidence, SHFE 1109 aluminum contract prices surged and hit 17,720/mt, a recent new high. Total positions of SHFE 1109 aluminum contracts decreased by 1,890 lots. Meanwhile, positions of SHFE 1110 aluminum contracts hugely increased by 23,566 lots, indicating position holders were actively moving their contracts. Finally closed price for SHFE 1109 aluminum contracts was RMB 17,695/mt, up RMB 180/mt or 1.03% from previous trading day. With strong support from the longs, aluminum led SHFE metals to gain during the day. As market players were confident towards RMB 18,000/mt, market transactions hugely increased. SMM expects SHFE 1110 aluminum contracts...
