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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Some of the world’s largest buyers of aluminium reacted with disappointment on Friday to a long-awaited decision by the London Metal Exchange to change its warehousing rules. General Motors, one of the world’s largest automakers, and Novelis, a leading aluminium processor, told the Financial Times that the LME’s move to double the rate at which the largest warehouses must deliver metal did not go far enough. The controversy has sparked a fierce debate in the metals community, pitching consumers against Wall Street banks and traders who own warehousing companies.
State-run National Aluminium Co Ltd (NALCO) , India's No. 3 producer of aluminium, has further cut aluminium prices by 3,000 rupees ($67.4) a tonne in the local market following a drop in global prices, a top company official said on Friday. The revision, which is effective immediately, reflects the changes in London Metal Exchange (LME) rates, NALCO's commercial director Ansuman Das told Reuters. London aluminium has fallen more than 7 percent since the beginning of June to $2,482 per tonne. NALCO had last month cut prices by 5,000 rupees per tonne, besides offering a 4-day discount of 2,000 rupees per tonne across all products from June 27. Das said the basic price (ex-works) of standard aluminium ingots would now be 139,200 rupees per tonne.
STOCKS Total exchange stocks were at 4.743 million tonnes at the end of June, equating to around 39 days of demand. Of the end June total, some 4.488 million tonnes were held in LME warehouses, down from 4.691 million a month earlier. LME inventories reached a record high of 4.712 million tonnes around mid-May, but a concerted downtrend became evident later that month and continued through June. Total visible stocks, including latest International Aluminium Institute (IAI) unwrought stocks were 6.316 million tonnes, down from 6.538 million a month earlier. Estimated aluminium stocks at the Japanese ports of Yokohama, Nagoya and Osaka rose to a seven-month high of 225,400 tonnes at the end of May. The increase reflected delayed deliveries and a rise in imports, an official at trading house...
PRICES Aluminium prices ended June at $2,532 a tonne, down from $2,675 the previous month. After an early high of $2,695, the market tended to have a downwards bias through to the end of the month as global demand worries weighed. In early May, the market hit $2,803, its highest since August 2008. The month's low of $2,482 was recorded on June 27 as investors remained cautious over continuing uncertainty about the debt crisis in Greece and U.S monetary policy. Attempts to rebound from there ran out of steam around the $2,600 mark and prices retreated on worries that the euro zone debt crisis was spreading to Italy and Spain. According to the latest Reuters poll in January, aluminium cash prices are expected to average $2,484 a tonne in 2011 compared with $2,173 last year.
PRODUCTION: June 23 - BHP Billiton , the world's largest mining group, said the estimated cost of expanding the Worsley alumina project in Western Australia had increased by more than half due to its complexity and inflationary pressures. BHP, which has an 86-percent interest in the project, said its share of the estimated cost had increased to $2.995 billion from the $1.9 billion figure given in May 2008. June 20 - Daily average primary aluminium output in May dropped to 69,900 tonnes compared with a revised 70,300 in April and 66,400 in May 2010, provisional figures from the International Aluminium Institute (IAI) show. June 20 - Daily average primary aluminium output in China rose to 49,700 tonnes in May from 48,400 tonnes in April, provisional figures from the International Aluminium...
Aluminium prices lost ground in June and while they may drift lower as demand softens for seasonal reasons, the market is expected to hold firm in coming months even though it is on course for another year of supply surplus. "Demand has slackened a bit, but we expect it to accelerate after the summer slowdown, with robust growth from both transport and packaging," said Credit Agricole analyst Robin Bhar. Independent consultant Angus MacMillan expected the market to meet with support at $2,400/2,350 if the $2,500 level is breached with conviction. The London Metal Exchange (LME) three-months aluminium price was last indicated at $2,485 a tonne. MacMillan said vast inventories and the prospect of another year of supply surplus would not dent sentiment because a large amount of LME warehouse...
Aluminum Corporation of China (NYSE:ACH) closed Thursday's unsure trading session at $19.68. In the past year, the stock has hit a 52-week low of $18.97 and 52-week high of $26.80. Aluminum Corporation of China (ACH) stock has been showing support around $19.38 and resistance in the $20.24 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 $17.53 area. That is also the break-even stock price for this trade. This covered call has a duration of 190 days, provides 10.92% downside protection and an assigned return rate of 8.39% for an annualized return rate of 16.11% (for comparison purposes only). Aluminum Corporation of China (ACH) has a current annual dividend yield...
Century Aluminum (NASDAQ:CENX) closed Thursday's directionless trading session at $13.70. In the past year, the stock has hit a 52-week low of $8.70 and 52-week high of $20.76. Century Aluminum (CENX) stock has been showing support around $12.80 and resistance in the $15.40 range. Technical indicators for the stock are Bearish. For a hedged play on Century Aluminum (CENX), look at the Dec '11 $12.00 covered call for a net debit in the $10.97 area. That is also the break-even stock price for this trade. This covered call has a duration of 155 days, provides 19.93% downside protection and an assigned return rate of 9.39% for an annualized return rate of 22.11% (for comparison purposes only). Century Aluminum (CENX) does not pay dividends at this time.
Asset manager Aviva Investors still has concerns over miner Vedanta's social conscience and corporate governance standards, despite a high-profile campaign last year that saw the group under pressure from shareholders and activists. Aviva, small but vocal shareholder in Vedanta, said on Friday it would again withhold support for three key resolutions at Vedanta's annual general meeting later this month. A storm last year centring on Vedanta's planned mine in India's eastern Orissa state forced the company, 62 percent owned by the Agarwal family, to defend its human rights record. The involvement of Aviva in the protest over plans to build a bauxite mine in an area sacred to indigenous people has marked a more activist stance from institutions on social issues. "The company has made some...
KEY industries in the Hunter say they face uncertainty under the government's carbon tax, despite the significant financial support to be provided to some. The Hunter's mining and aluminium industries, both major employers, say the tax will reduce their competitiveness internationally. The Hunter provides one-third of Australia's aluminium and production is expected to double in the next 10 years, but the industry says the tax will force a lot of it overseas. The industry would receive free carbon permits covering 94.5 per cent of average costs under the government's proposal. The coalmining industry is still warning of job losses in regions such as the Hunter despite the government's $1.3 billion support. An effective carbon price would extend to a range of businesses, including the...
Today’s most active SHFE 1109 aluminum contract prices opened slightly lower at RMB 17,365/mt, and slightly rebounded in the morning session. After 10:30, the longs pushed SHFE 1109 aluminum contract prices to today’s highest RMB 17,605/mt, which fell later due to the shorts’ selling. Finally closed price was RMB 17,490/mt, up RMB 95/mt or 0.55% from previous trading day. Positions of most active SHFE 1109 aluminum contracts increased by 4,870 lots to 106,160 lots. Aluminum became the only base metal gained in SHFE today as a result of capital support, with transactions of most active SHFE 1109 aluminum contracts doubling to near 50,000 lots. SMM expects SHFE 1109 aluminum contract prices to fluctuate at RMB 17,500/mt in the short term.
Reliance Steel & Aluminum Co announced that it has reached an agreement to purchase all of the outstanding capital securities of Continental Alloys & Services Inc, headquartered at Houston in Texas and certain affiliated companies. The transaction is expected to be finalized within 30 days, subject to customary closing conditions. Terms were not disclosed. Continental is a leading global materials management company focused on high end steel and alloy pipe, tube and bar products and precision manufacturing of various tools designed for well completion programs of global energy service companies and has 12 locations in seven countries including the United States, Canada, United Kingdom, Singapore, Malaysia, Dubai and Mexico. Continental and its affiliates had unaudited combined net sales...
The Venezuelan government said Thursday that it is in talks to buy a 20% stake in state aluminium producer CVG Venezolana de Alumino,or Venalum,which is currently held by 6 Japanese companies. In a statement on its website, the Ministry of Basic Industries and Mining said it had begun negotiations with Showa Denko K.K.(4004.TO), Kobe Steel Ltd. (5406.TO, KBSTY), Marubeni Corp. (8002.TO), Sumitomo Chemical Co. (4005.TO), Mitsubishi Materials Corp. (5711.TO, MIMTF) and Mitsubishi Aluminum Co. The parties expect to reach an agreement within four months, the ministry said.
Greshma Research is bullish on Hindalco and has recommended buy rating on the stock with a target of Rs 195 in its July 12, 2011 research report. ?Hindalco, we expect Novelis to post encouraging numbers going ahead on account of expansion, restructuring and debottlenecking activities undertaken by the company. The EBITDA/tonne of the company has stabilized at above $300 levels. We expect aluminium prices to be stable on the back of strong demand in sectors like aerospace. We are expecting aluminium prices to grow by 10% CAGR in next two years. Hindalco is among the lowest-cost aluminium smelters in the world with the over all capacity 500ktpa and company has successfully managed its cost with captive power, bauxite and coal blocks that company owned. Its 1.5m tpa Utkal alumina project in...
Green design is a pretty fuzzy concept. Everybody defines it differently. And if you can find a set of definitions you like, how do you efficiently include the concept of green into your design process? The Alcoa Technical Center in southwestern Pennsylvania launched an investigation to find out. Its interest wasn't primarily to improve its own design process. Alcoa makes aluminum shapes from bauxite and other raw materials. Its goal was to find a tool that would convince OEM design engineers that aluminum is a better choice than other materials such as steel or plastics. Researchers studied several tools, and the findings were reviewed by Stephen B. Leonard, Alcoa's Design and Innovation Practice Leader, at the 2011 International Forum on Design for Manufacture and Assembly (DFMA) held...
On July 14, while the US announced better-than-expected data that June retail sales increased by 0.1% MoM, core PPI rose by 0.3% MoM and unemployment claims fell to 405,000 during the week from July 4 to July 9, investor risk appetite still fell due to ongoing European and US debt issues. Later during the day, after US FED chairman Bernanke’s remarks that QE3 was not impossible though more bonds-buying would not be considered for the short term, the US dollar index rose and tested the 5-day moving average after standing steady at 75. The US dollar index finally closed at 75.121, up 0.56%. As US dollar index fluctuated upward, LME aluminum prices erased earlier gains overnight, and finally closed at USD 2,506/mt, down USD 10.3/mt or 0.41% due to strong resistance at the 10-day and 20-day...
Reuters reported that shipments of aluminum into the United States rose for a second straight month in May spiking to a near 2 year peak as a growing domestic market deficit and improved demand conditions drove the builds. Data from the US International Trade Commission showed that May aluminum imports surge to 160,847 tonnes up more than 50% from April to stand at their highest level since July 2009 when imports reached 189,671 tonnes. Mr Jorge Vazquez founder and senior VP with Harbor Intelligence said that "As we know there is supply tightness in the US and that has caused premiums to increase considerably. The US Midwest spot aluminum premium paid above the London Metal Exchange cash price CMAL0 rallied to a record peak at 9.5 cents per lb in May of this year as lengthy load out rates...
July 17, 1941 Collection of old aluminum for use in defense industries will be the first task of the Wallowa County Defense Council, which was organized last Wednesday night at a meeting in the courthouse. … The committee for gathering the aluminum consists of C.H. Zurcher, chairman; Dr. B.R. Scharff, A.S. McKinley, Raymond Smith, M. Crow, Fred Himelwright, Willard Lewis and G.D. Best. When the new Safeway grocery store opens in Enterprise tomorrow, much that is new in merchandising facilities in Wallowa County will be disclosed. The store is one of 48 new buildings recently constructed in the west and the end is not yet. … All are alike in size, equipment and arrangement of stock. A patron familiar with one Safeway store will find everything in the same place in every other. James A....
