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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Aluminum inventories tracked by the London Metal Exchange fell for a sixth day, led by declines in the U.S., daily exchange figures showed today. Stockpiles of the metal dropped 6,350 metric tons to 4.69 million tons, with 3,250 tons delivered out of warehouses in Detroit, Mobile, New Orleans and Chicago. The U.S. accounts for 47 percent of total LME aluminum inventories. Orders to draw aluminum from LME stocks, or canceled warrants, fell for a second day to 500,375 tons. Copper stockpiles rose 2,650 tons to 473,500 tons, the highest level in almost a year, while canceled warrants increased 700 tons to 20,225 tons. Lead stocks, at the highest level since 1995, were little changed at 323,375 tons, the data show. Zinc stockpiles were little changed at 854,200 tons, after climbing to 855,075...
RIO Tinto Alcan's Yarwun refinery is preparing for the possibility that an important pipeline may require cleaning in the next fortnight. The refinery's general manager of operations Mike Dunstan contacted The Observer on Wednesday to inform the public about the situation. He said Rio Tinto Alcan was well prepared for the situation. The refinery, which converts bauxite into alumina, uses the 8km-long pipeline to transport a muddy bauxite residue away from the plant to a large area where it is dried. Mr Dunstan said the pipeline, while not blocked, has become restricted and may need to be cleaned out.
As part of its diversification plans, the aluminium major National Aluminium Company Limited (NALCO), has decided to start a 50.4 MW Wind Power Project at Gandikota in Kadapa district of Andhra Pradesh. The Navratna PSU has been endeavouring to foray into other metals and energy sectors. This project has got the approval of Nalco Board recently. The Wind Power Project will be executed through Suzlon Energy Limited with an investment of Rs.274 crore. Under the project, 24 wind turbine generators, each of 2.1 MW capacities, shall be set up. "NALCO has come up with this project as a part of its green initiative towards promoting sustainable development by harnessing the unconventional energy source", Nalco chairman-cum-managing director B.L. Bagra on Wednesday told "The ET". "The project,...
The aluminum market in the GCC region is projected to reach US$3bn by 2015, led by growth of the building construction sector and rising population, according to a recent study. Sohar Aluminium, the sultanate’s only aluminium producer, is likely to cash in on the boom. The study, conducted by Abu Dhabi-based Ventures Middle East, claims that Saudi Arabia, UAE, Qatar and Kuwait are the main markets driving the region’s growth. Investments in the GCC aluminum industry are expected to reach US$55bn by 2022, driven by new factories and projects, according to Ventures Middle East’s April 2011 GCC Aluminum Industry Report. “Aluminium demand is expected to grow sharply in the next few years and in order to meet this growth, Sohar Aluminium is gearing itself up by gradually ramping up amperage to...
China Henan Sanmenxia Tianyuan Aluminium's smelter in Mianchi city has delayed the restart of its earlier idled capacity due to unfavourable market conditions, a company source said Thursday. The plant was originally scheduled to resume full capacity in June, but was now expected to restart next year. "There are many issues affecting the plans to restart -- funding due to tighter monetary policies, higher power costs, and expected power cuts in the near term," the company source said. "We are now doubtful that we can restart anytime this year," he added. The 120,000 mt/year smelter had shut down 70,000 mt/year capacity in October 2010 on the back of the government's power rationing measures at the time. It has been producing at 50,000 mt/year capacity since the cutback. "In 2011, we...
Mining giant Rio Tinto PLC is renewing its vows with a once-spurned Chinese partner by signing a mineral-exploration joint venture with state-owned aluminum producer Aluminum Corp. of China Ltd. (Chinalco). The new entity will focus on mineral exploration in China, with copper as its “immediate priority,” the partners said Wednesday. Coal and potash will follow. China is the world’s largest consumer of copper, an industrial staple, and is constantly hunting for more to meet its need for rapid infrastructure growth. Chinese demand for copper has helped propel the metal’s price to record levels in recent months of more than $4 (U.S.) a pound. The country is anxious to find more copper reserves at home. Chinese firms, despite their deep pockets, balked recently at paying rich premiums to buy...
Reuters reported that Indian nonferrous metals producer Hindalco Industries plans to shortly raise debt of around INR 80 billion for its Aditya Aluminum project in eastern state of Orissa. Mr Sunirmal Talukdar head of finance said that the company is setting up an alumina smelter and a captive power plant in Orissa as part of the project. In March, Hindalco signed a rupee loan agreement for the entire debt of INR 78.75 billion for the USD 2.4 billion Mahan aluminum smelter and power plant project in central India.
Global aluminum production climbed to the highest daily average in April since at least 1999 amid rising prices on the London Metal Exchange. According to data compiled by the International Aluminum Institute, primary aluminum output rose to a daily average of 118,800 tonnes in April from 115,400 tonnes a day in March. Aluminum for delivery in three months on the LME rebounded since November reaching USD 2,803 per tonne on May 3rd 2011, the highest level since August 2008, on expectations rising oil prices will boost production costs. Mr Edgardo Gelsomino, a London based analyst at researcher Brook Hunt said that “The price makes everybody make money so there is no incentive to cut down on production. Most smelters are making the most of these prices and operating as much as they can.”...
Chinalco and Rio Tinto will explore mainland China for world class mineral deposits under a joint venture formalized. The JV is subject to Chinese regulatory approvals and once established will operate under the name Chinalco Rio Tinto Exploration Co Ltd. Chinalco president Mr Xiong Weiping and Rio Tinto CEO Mr Tom Albanese executed the joint venture contract during a signing ceremony in Beijing. The immediate priority for CRTX will be copper exploration, with coal and potash among other commodities potentially considered at a later date. Mr Weiping said "Access to natural resources is a critical component to many of the world's leading economies. Drawing on the respective strengths of both companies, this exploration JV could potentially create commodity supplies to benefit the global...
Aluminum processors in China have received notices from energy suppliers asking them to brace for power cuts as the country faces electricity shortages this summer, potentially heralding disruption across the industry. Fabricators in areas short of power, including Henan Province, the country's largest aluminum-producing region, "were told to be prepared for restrictions," Wan Ling, a Beijing-based senior consultant at researcher CRU International Ltd, said yesterday. She declined to name processors that may be hit. Shutdowns of fabricators, which process the ingots made by smelters into products, may cut demand for the refined metal. Smelters in the world's largest aluminum producer may be next in line to get notices that their power supplies may be interrupted, according to Beijing...
India's aluminum output rose 7.1% in April to 143,566 metric tons, aided by robust demand from consuming sectors, according to data from the ministry of mines Tuesday. The country produced 54,240 tons of copper cathode in the same month, up from 50,525 tons a year ago, while zinc output rose to 65,216 tons from 56,011 tons. India's lead output increased to 5,123 tons in April from 4,563 tons a year earlier.
Aditya Birla group flagship Hindalco Industries plans to commence operations at its greenfield Utkal Alumina project before June 2012. The 1.5 million tonne alumina refinery project, started as a Rs4,400 crore joint venture between Norsk Hydro, Alcan and Indal (earlier promoted by Alcan) in 1992, has been unable to take off due to opposition from locals on concerns over displacement and environmental damage to the area. But the company is confident of bringing it on stream soon. “We have always said that the refinery will be ready by September or October 2011 but it got delayed because of our problems with our contractors. I will be really surprised if it goes beyond June 2012,” Debnarayan Bhattarcharya, managing director, Hindalco Industries said on the sidelines of the company’s annual...
Anil Agarwal-controlled Vedanta Resources is likely to hire Sushil Kumar Roongta, former chairman of Steel Authority of India , as head of aluminium business , sources with knowledge of the development said. Roongta is expected to oversee aluminium operations at Balco, Malco, and Vedanta Aluminium from June. Roongta's appointment is viewed by industry experts as part of the group's strategy to get closer to government quarters following the problems it faced since the Cairn deal announcement. A Vedanta source said, "It is clear that we have to be close to the government and that's what we are working on." Agarwal has given mandate to Roongta, who has spent about 37 years in metals space and worked closely with government machinery, to smoothen processes pertaining to seeking government...
Riding on higher realisation from metal sales, the net profit of National Aluminum Company (Nalco) has gone up 31 per cent during 2010-11 to Rs 1,069.3 crore, up from Rs 814.22 crore in the previous year. In 2010-11, the average realisation from alumina sales was $350 per tonnes against $264 last year. Similarly, the average price of aluminium in the international market jumped to $2,335 per tonnes in the last financial year compared to $1,946 per tonnes a year ago. Aluminum prices soared globally last year due to limited availability on the London Metal Exchange, higher demand and closure of some smelter plants in China after a stiff power rate rise. Power cost makes more than 35 per cent of aluminum production. Higher metal prices pushed the net sales of the Navartana public sector unit...
Hindalco Industries , the country's largest aluminium producer , registered a 37% fall in consolidated full-year net profit because of derivative losses and higher capital spending and debt costs. Group net profit for the year ended March fell to Rs 2,456 crore while revenues, including that of subsidiary Novelis Inc , rose 19% to Rs 72,078 crore on strong volumes, an improved product mix and firm aluminium and copper prices. "We are working on a strategy that aims to create a complementary business model. As we grow our upstream business by raising primary metal capacity, we would be exposed to volatility in LME prices. However, growth in our value added products business will create a natural hedge against any market volatility," Hindalco managing director D Bhattacharya said. Hindalco...
Eskom Holdings Ltd., which supplies about 95 percent of South Africa’s electricity, said it interrupted power supplies to BHP Billiton Ltd. (BHP)’s smelters this month to help manage “tight supplies” amid colder weather. Eskom also invoked power-reduction agreements with large customers it can’t name “more frequently, almost daily,” Hilary Joffe, a spokeswoman for Johannesburg-based Eskom said by phone today. Customers, excluding BHP, whose tariff agreement with Eskom incorporates an interruption clause, receive financial compensation in return for reducing electricity use. “Temperatures dropped quite early, so demand rose,” Joffe said. The utility used gas-fired plants, which are expensive to run “more than usual,” she said. Electricity shortages caused rolling blackouts and temporarily...
The Tiwai Point aluminium smelter has ramped up its capital expenditure and is planning to spend about $80 million annually for the next four years, with southerners expected to benefit. New Zealand Aluminium Smelters is anticipating doubling its normal spending until 2015 after it secured a long-term electricity contract with Meridian Energy, ensuring power for the smelter until 2030. New Zealand Aluminium Smelters general manager Ryan Cavanagh said the smelter typically spent $30 million to $50 million annually on project work and rebuilding aluminium cells, but last year spent about $76 million, and now the company had certainty of power its future looked safe, so he expected it to spend a similar amount, if not more, this year. The outlook for the next few years was good because of...
ET reported that shares of Hindalco Industries were the biggest Sensex gainer after the company's US arm Novelis posted a turnaround in its Q4 earnings. The stock rose 5.8% to 197.50. But investors are not willing to bet on the stock in the long term. Investors are turning cautious on commodities, including metals, as the Fed's second bond buyback program comes to an end in June. With global liquidity expected to dry up post QE2, analysts expect fund flow into global commodities to recede. China's policy rate tightening measures to cool inflation and demand will also impact metal prices. Analysts don't rule out a sharp correction in metals mainly aluminum. Aluminum constituted 32% of Hindalco's operating profit in 2011 to 2012.
