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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Mubadala Development Company, a wholly owned investment vehicle of the government of Abu Dhabi and 1 Malaysia Development Bhd have announced that they will jointly establish USD 4.2 billion aluminum smelter in Sarawak of Malaysia. The JV partners will also bring in other investors to invest approximately USD 1.8 billion to develop aluminum related downstream industries including a rolling mill, a wire cabling facility, a wheel casting plant and up to 10 extrusion plants in the state. The new plant will have a production capacity of 750 kilo tonnes per year. The new development is expected to create over 40,000 jobs yield additional USD 3 billion MYR 9.05 billion to the gross domestic product and contribute MYR 7.8 billion to the country's trade balance. The agreement to build the smelter...
Noranda Aluminum Holding Corporation /quotes/zigman/511299/quotes/nls/nor NOR +2.93% will announce financial results for second quarter 2011 in a news release before the NYSE opens on July 27, 2011. Management will review those results during a conference call at 10:00 AM Eastern Time on July 27, 2011, followed by a question-and-answer period. The call will be broadcast over the Internet on the Company's homepage at www.NorandaAluminum.com and can be accessed under the link "Investor Relations." The call will be archived shortly after the conference call concludes and will be available for replay through August 3, 2011.
Aluminum inventories tracked by the London Metal Exchange dropped for a 23rd session, declining in warehouses around the world. Stockpiles of the lightweight metal fell 11,475 metric tons to 4.53 million tons, daily exchange figures showed. That was the lowest level since Feb. 4. Declines were registered in warehouses from Detroit to Singapore. Inventories are down 3.8 percent since rising to a record 4.71 million tons on May 18. Canceled warrants, or orders to draw aluminum from LME stocks, fell 11,475 tons to 461,725 tons. They jumped 71 percent in the four weeks through June 10 and reached the highest level since at least October 1997 on June 6. The increase was “the result of the breakdown in the profitability of the carry trade throughout May,” said Angus Staines, an analyst at UBS...
Reuters reported that more primary aluminum smelter projects must make their way onto the drawing board soon to avert a looming gulf between supply and demand around the end of the decade. Compounding the problem is the likely difficulty in opening new bauxite mines to feed those smelters due to the spread of resource nationalism and rising development costs. The prospect of supply shortages may seem remote with a current glut of stockpiled aluminum including the highly visible 4.5 million tonnes in London Metal Exchange warehouses. Analysts and producers forecast based on known smelter and mine projects said that yet a shortfall of some 13 million tonnes looms by 2020 as demand surges to 70.0 million tonnes. Demand this year is seen at around 45.0 million tonnes. Mr Steve Hodgson CEO of...
On Tuesday, June 28, President Barack Obama will visit Alcoa's Davenport, Iowa, facility where he will highlight the role of advanced manufacturing in US job creation and exports. Alcoa has developed 95% all aerospace alloys ever created. The visit comes on the heels of Alcoa's newest aviation breakthrough, third-generation aluminium lithium alloys that make planes lighter, corrosion resistant, and more cost effective to manufacture. “It is a true honor that President Obama has chosen to visit Alcoa in Davenport, a great example of the high technical capabilities and innovation that makes US manufacturing strong,” said Alcoa Chairman and CEO Klaus Kleinfeld. “We have more jobs in Davenport today than before the crisis as we capture growing global demand for innovative products. We welcome...
Rumors are increasing that the closed Century Aluminum plant in Ravenswood may be sold soon, an industry trade publication reported last week. However, at least one analyst says that, not only does a sale not make sense right now, but there's no good reason why the shuttered aluminum smelter shouldn't already be back up and running. Last week, a report by American Metals Market said speculation was mounting that the Ravenswood plant was on the auction block. The report cited several unnamed industry analysts who said the Monterey, Ca.-based company is looking to sell off some of its aging U.S. assets such as the Ravenswood plant, so long as the price was right. "I don't see why they wouldn't sell it — that's a company that I think wants to be Iceland-based and not U.S.-based," one unnamed...
Alcoa announced today it has been awarded a new multi-year supply deal by Airbus for aluminum sheet and plate products. The agreement was reached this week at the Paris Air Show between executives of the companies. Exact terms were not discussed, but the deal is worth about $1.0 billion over its duration. Alcoa has a potential upside of 31.1% based on a current price of $15.28 and an average consensus analyst price target of $20.03. This Business News video “Alcoa Announces Multi-Year Aluminum Deal With Airbus Worth $” is copyright by Financial News Network and brought to you by Gamut News. Feel free to share or embed this video but this video may not be broadcast, redistributed or rewritten in whole or part without express written permission. Gamut News is a leader in providing critical...
Last week's Investor Alert highlighted a Macquarie Research chart showing a recent notable upswing in aluminum production around the world. Following a huge dip in output in China and worldwide throughout 2009, China once again surpassed the rest of the world in producing the most aluminum. China's massive production makes sense considering the country consumes the most aluminum. According to Jeremy Grantham of GMO, China uses 40 percent of the world's aluminum as it rapidly develops its railway transportation, increasingly purchases automobiles and demands more energy. Aluminum's popularity around the world is well-known: The International Aluminum Institute boasts that the metal is the third-most abundant element on Earth and second-most used metal after iron. And justifiably so....
Mumbai: Suzlon Energy Limited, the world’s fifth largest* wind turbine manufacturer, announced today a new order from the National Aluminium Company Limited (NALCO) - Asia's largest integrated aluminum company - to set up, operate and maintain 50.4 MW of wind energy projects in Andhra Pradesh. The order comprises 24 units of Suzlon’s S88 – 2.1 MW wind turbines which will be set-up in the Gandikota region, Kadapa district, Andhra Pradesh. This order marks NALCO’s entry into the wind energy sector, with this maiden project scheduled for completion and commissioning by January, 2012. The power generated will be sold to the state electricity grid. NALCO plans to register the project under the Clean Development Mechanism (CDM). Speaking about the order, Mr. Tulsi R. Tanti, founder, Chairman...
State-owned National Aluminium Company Ltd. (NALCO) has decreased its domestic aluminium price by Rs.2,000 a tonne as the international price of the metal has come down, an official said Sunday. This is the third time this month the Bhubaneswar headquartered NALCO has revised the price across all products because of the fluctuation of the aluminium price at the London Metal Exchange (LME), the official told IANS. Last week, the company, which is India's third biggest aluminium producer, had cut the price by Rs.5,000 a tonne after raising it by Rs.6,000 a tonne earlier this month. The official said the new rate will remain effective till June 30. NALCO produced about 4.44 lakh tonnes of aluminium in fiscal 2011. The company has set a target to produce 170 lakh tonnes of aluminium annually...
Commodity reported that MCX Aluminum June contract traded with the positive node and settled 0.44% up at 113.5 before the US Federal Reserve said that the pace of economic recovery is slower than expected and it will keep benchmark interest rate at an extraordinary low level in a long term. Ben Bernanke’s remark triggered market concerns over the US and even the global economic recovery and US stocks slumped and US dollar index strengthened as a result. In yesterday's trading session Aluminum futures has touched the low of 112.65 after opened at 113.35 and finally settled at 113.5. For today's session Aluminum futures is looking to take support at 112.3, a break below could see a test of 111.6 and where as resistance is now likely to be seen at 113.9, a move above could see prices testing...
BHP Billiton, the largest mining company, said that the cost of expanding its Worsley aluminum project in Western Australia has increased 58% to USD 3 billion and completion delayed at least 6 months. Mr Andrew Mackenzie CEO of Melbourne based BHP's non ferrous unit said that “The complexity of expanding the refinery has resulted in significantly lower levels of construction progress than previously anticipated while broader inflationary pressures and the strengthening of the Australian dollar have also contributed to the cost increase.” BHP said in the statement that the estimates include developing the Marradong mine, enlarging the refinery and connecting a multi fuel cogeneration unit. First production is now expected in the first 3 months of 2012. It was reviewing the budget for...
Mr Vladislav Solovyov the deputy chief executive of Russia’s United Company RUSAL predicted that the international aluminum prices would climb to USD 2,700 per tonne to USD 3,000 per tonne next year driven by increasing demand from global market, the recovery of global economy and the rising prices of electricity, oil and transportation. Mr Oleg Mukhamedshin director of capital markets of the company said that the company received USD 4.728 billion loans from the new banks which will help the company make new dividend policy.
Commodity reported that aluminum inventories nose dived yet again on London Metal Exchange today. The inventories saw a decline of 10825 tonnes on LME to 4544725 tonnes. Since beginning of June the inventories have declined by 3.12% from 4691450 tonnes. During this period the prices of 3 month Aluminum forwards has been down by 6% to USD 2669.5 per kilogram. The fall in the prices has been due to the tensions in Greece related to high debt that eradicated buying from EURO currency. Indian Aluminium futures have seen a decline of 5.1% from June 1st 2011 to INR 112.2 per kilogram. The prices at the beginning of June 2011 were at INR 118.3 per kilogram. The Aluminium markets surplus for primary aluminium for January to April 2011 was 180000 tonnes that compared with a surplus of 417000...
BHP Billiton said the cost of expanding its Worsley aluminium project in Western Australia has increased 58% to $US3bn and completion delayed at least six months. The complexity of expanding the refinery “has resulted in significantly lower levels of construction progress than previously anticipated, while broader inflationary pressures and the strengthening of the Australian dollar have also contributed to the cost increase,” Andrew Mackenzie, ceo of Melbourne-based BHP's non-ferrous unit, said. The estimates include developing the Marradong mine, enlarging the refinery and connecting a multi-fuel cogeneration unit, BHP said in a statement. First production is now expected in the first three months of 2012. BHP has previously said Worsley was set for completion in H1 2011. BHP approved...
AMONG the base metals, tin was the star of 2010. So far in 2011, the unlikely winner is aluminium. Yes, the same metal who stockpiles in London Metal Exchange warehouses now stands at 4.55 million tonnes, and which fell heavily last night in sympathy with oil. So aluminium is the best base metals performer in the first half of 2011. Which, as BNP Paribas says in a new report on the metal, is not saying much. And it is certainly down from a recent six month high of $US2800 a tonne, last night closing at $US2509 a tonne. While some signs of bullish sentiment surrounds aluminium, in the view of BNP Paribas the aluminium market is still hobbled by excessive inventories. Reported stocks and, especially, the stock-consumption ratio have fallen sharply in recent weeks. The analysts are also...
Analysts at Harbor Intelligence’s Annual ‘Aluminum Outlook Conference’ are predicting stable to higher aluminum prices on the year. Despite high inventories of aluminum in warehouses, the analysts agree that demand growth and a looming supply issues in China will move the price higher. A poll of conference participants showed that 75 percent of respondents expected prices to average upwards of $2,600 per tonne in 2012, a majority also concluded that the regional premiums would increase. Jorge Vazquez, founder and manager of Harbor Intelligence, had a more positive outlook forecasting prices to be above $3,000 per tonne on in 2012. In his presentation at the conference, Vasquez laid out strategies to forecast aluminum prices. The key highlights included Chinese inventory levels, the effect...
Capitalvue reported that Henan Shen Huo Coal Industry and Electricity Power, a producer of coal, aluminum products and electricity will acquire 30.62% stake in Shen Huo Aluminum for CNY 383 million. Upon the completion of the transaction, Shen Huo Aluminum will become a wholly owned subsidiary of Shen Huo Coal. Shen Huo Aluminium is mainly engaged in the manufacturing, processing and sale of electrolytic aluminium, aluminium alloy, section aluminium and related products. It recorded a loss of CNY 305 million in 2010 and a loss of CNY 262 million in the first 5 months of 2011. According to Shen Huo Coal, the transaction was aimed at reducing management and operating costs and to improve operational efficiency.
