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 prices lately have fallen back to the upper end of Harbor Intelligence’s correction target zone of $2,500 to $2,400 a metric ton. “Today’s prices offer value under key industry metrics, but (the) correction phase is not officially over yet,” Harbor says. Still, Harbor says any slowdown in demand should be short term and that the fundamental picture remains favourable. Harbor looks for an upward trend to start in the June-September period and eventually target $3,000 a ton. For now, growth in end-user demand is cooling, Harbor says. April data show Chinese output hit a record high and rest-of-world output also rose. However, global aluminium output costs continued to trend higher, such as thermal coal, spot alumina, carbon products and freight. Harbor says that funds have booked...
Aluminum prices lately have fallen back to the upper end of Harbor Intelligence’s correction target zone of $2,500 to $2,400 a metric ton. “Today’s prices offer value under key industry metrics, but (the) correction phase is not officially over yet,” Harbor says. Still, Harbor says any slowdown in demand should be short term and that the fundamental picture remains favourable. Harbor looks for an upward trend to start in the June-September period and eventually target $3,000 a ton. For now, growth in end-user demand is cooling, Harbor says. April data show Chinese output hit a record high and rest-of-world output also rose. However, global aluminium output costs continued to trend higher, such as thermal coal, spot alumina, carbon products and freight. Harbor says that funds have booked...
Aluminium on -warrants are declining in Shanghai while inventories in LME has shown rising trend. The inventories of Aluminium are at all time high in LME. Total stocks maintained in LME were 4711875 tonnes up 2% since the beginning of this month. Meanwhile, the on-warrants of Shanghai were 248077 tonnes, down 10527 tonnes since start of the month, the markets of Aluminium were at 258604 tonnes on 3 May 2011. Backwardation of Aluminium in LME has caused stocks to move to warehouses. Currently the backwardation of Aluminium is $25. Meanwhile, MCX Aluminium for near month expiry is trading at Rs. 113.8 per kg, up 0.4%. The markets for Aluminium are expected to find Resistances at Rs. 114.7 and 115 per kg. Support for the contract is at Rs. 110-109 per kg. Considering the risk reward ratio...
UC RUSAL (0486.HK: Quote), the world's biggest aluminium producer, is keen to invest in Cameroon as part of its efforts to diversify its sources of bauxite, the firm said on Wednesday. Yakov Itskov, director of RUSAL's international division, cited a new government and a mining review in Guinea, where RUSAL has a major operation, as potential threats to investors and reasons to look for new partners elsewhere. Itskov was speaking to reporters in Cameroon after the company and the government set up a joint working group to explore investment opportunities, which could also involve energy and infrastructure projects. "Cameroon is of great interest to RUSAL because it possesses important reserves of bauxite, the basic raw material for the production of alumina and aluminium," Itskov said,...
Aluminum giant United Co. Rusal (0486.HK), controlled by Russian billionaire Oleg Deripaska, said Wednesday it will appeal the decision of a Ukrainian court to nationalize its local smelter. "The smelter is controlled as before by Rusal and there are no talks about nationalization," Rusal said in an emailed statement. "The company will exercise its right to challenge the ruling in Ukraine's Supreme Commercial Court." Rusal representatives weren't immediately available for further comment. A Kiev appeal court Tuesday cancelled the decision of a lower local court, giving the green light to the termination of the agreement on the state's sale of 68.01% of Zaporozhye Aluminum Smelter to AvtoVAZ-Invest, which owned the smelter before Rusal took the control of the enterprise in 2007, Interfax...
The global aluminum market was in surplus by 252,000 metric tons in the first three months of the year, the World Bureau of Metal Statistics said Wednesday. This compares with a surplus of 348,000 tons in the same period a year before. Demand for primary aluminum in the first three months of 2011 was 10.07 million tons, which is 360,000 tons more than in the same period the previous year. Production in January and February rose by 264,000 tons, following an increase of 3.6 million tons over the whole of 2010.
Alcoa has awarded more than $7.2 million in contracts as part of the company’s effort to prepare the former Badin Works site for redevelopment, the company announced this week. Additional contracts are expected to be awarded throughout the year as work progresses. Redevelopment of the former aluminum smelting plant site includes partial building demolition and restoration of some of the current structures within the 850,000-square-foot facility, along with branding the site and upgrading site-related signage. Kevin Anton, Alcoa’s chief sustainability officer, said in a press release sent Tuesday that Alcoa has been marketing the location over the past three or four months to many companies that may have an interest in locating there. “We are very excited to get the redevelopment of the...
Alcoa of Australia has been selected as a finalist in the annual PACE Zenith Awards for its sustainability work in turning bauxite residue into valuable by-products. The Awards, now in their 8th year, recognise companies and individuals, across nine industries in Australia and New Zealand, showing leadership in engineering and technological innovation. Alcoa is a finalist in the 'Mining, Minerals and Exploration' category, to be awarded to a company that has successfully implemented a process or automation solution in any aspect of mining, minerals processing or automation. Alcoa in Western Australia extracts alumina from bauxite ore. The residue remaining after the refining process consists primarily of two roughly equal components – sand and mud. In 2006, Alcoa?s global refining...
Reportedly, traders indicated that the aluminum premium spot prices after tax have remained at high level in European market due to tight supply. It’s known that the aluminum premium spot prices after tax in Rotterdam are at USD 210 per tonne to USD 240 per tonne recently in comparison of USD 200 per tonne to USD 230 per tonne in a month earlier. However, the aluminum inventory at LME reached the history highs. Moreover, the aluminum inventory used in the transportation and packing have increased by 65,000 tonnes to hit around 4.69 million tonnes. For the prospect, analysts pointed out that the aluminum premium spot prices might not at the high level for a long time as the high aluminum inventory might depress the prices hike for aluminum premium.
Reuters reported that stocks of aluminum in London Metal Exchange warehouses jumped 22,625 tonnes to hit a record high of 4,710,550 million tonnes. Data showed that a backwardation or premium for the cash contract against the 3 month contract is attracting metal to LME warehouses.
Reuters reported that aluminum prices are expected to keep climbing and demand for the metal will likely double in the next decade. Mr Klaus Kleinfeld CEO of Alcoa Inc said that although aluminum markets are tight with demand outpacing supply, Alcoa has no intention of restarting additional US smelters soon. The general trend is clearly up for the simple reason that demand is up we are aluminizing the world. Last week, Russia's UC RUSAL expected metal prices to recover from their recent fall thanks to strong demand from China. Mr Kleinfeld declined to predict the metal's price but pointed to the fact it has risen from around USD 1,100 per tonne in January 2009 to USD 2,500 to USD 2,600. He considered that price range was fair for aluminum in the current market. Goldman Sachs raised its...
BNamericas cited Mr Emilio Campos union general secretary of Sutracarbonorca as saying that the Venezuelan government is not interested in taking action to revive aluminum sector companies. Mr Campos said that small and large scale companies as well as Venezuelan investors have put forward proposals to revive the sector but the government doesn't seem to be interested in these solutions. Workers at state owned carbon anodes firm Carbonorca proposed that Swiss company Glencore which buys aluminum from the government help out by looking for alternative markets to sell its products. Currently, state reducer Alcasa is Carbonorca's only customer. The aluminum sector's small scale processing plants have also called on the government to form a strategic partnership to give the metal more added...
BNamericas cited Mr Emilio Campos union general secretary of Sutracarbonorca as saying that the Venezuelan government is not interested in taking action to revive aluminum sector companies. Mr Campos said that small and large scale companies as well as Venezuelan investors have put forward proposals to revive the sector but the government doesn't seem to be interested in these solutions. Workers at state owned carbon anodes firm Carbonorca proposed that Swiss company Glencore which buys aluminum from the government help out by looking for alternative markets to sell its products. Currently, state reducer Alcasa is Carbonorca's only customer. The aluminum sector's small scale processing plants have also called on the government to form a strategic partnership to give the metal more added...
We maintain our Neutral recommendation on Alcoa Inc. (NYSE:AA). Alcoa reported first-quarter 2011 earnings per share of $0.28, which was a penny ahead of the Zacks Consensus Estimate. However, revenues of $5.96 billion missed the Zacks Consensus Estimate of $6.112 billion. The company posted improved profits across all its business segments and set profit records in its midstream and downstream businesses. The company expects aluminum to remain in great demand for the rest of 2011 due to the metal’s unique properties of being light, strong and reusable. Therefore, Alcoa has a positive outlook for the rest of 2011 and expects global aluminum demand to grow 12% in 2011. Alcoa plans to restart idled potlines at three aluminum smelters in the United States, creating approximately 260 new jobs...
There appears to be no slowdown in the pace of spending on power projects in China, which results in demand for base metals, says Barclays Capital. Analysts cite a report from Antaike that the Chinese State Grid Corp. of China plans to buy 1.6 million tons of aluminum, 1.12-1.25 million of copper and 5 million of steel semis this year to continue with its strong growth plans. “To put that into perspective, it would equate to around 9% of our forecast primary aluminum demand for this year and 15% of our forecast refined copper demand,” Barclays says.
The government's plan to impose a tax on carbon emissions threatens the future viability of the domestic aluminum industry as it would push up costs and limit future investment, Miles Prosser, Executive Director of Australian Aluminium Council, an industry lobby, said Tuesday. Working on a theoretical cost of A$20 a metric ton for carbon dioxide emissions in Australia, the council found that the cost of aluminum produced in Australia would rise by A$100/ton. The carbon cost is only 85 cents a ton in China, which is enough "to materially shift investment and production decisions," Prosser told a Senate Select Committee on Scrutiny of New Taxes. "The overall cost could be become large enough to shift investment decisions and push Australian facilities further up that global cost curve, not...
Production commences at the Emirates Aliminium (EMAL), the worlds largest single-site aluminium smelter at Taweelah in Abu Dhabi. The UAE controls nearly 48 per cent of the total aluminum investments of more than$22 billion in Gulf oil producers and the construction of a mega smelter in Abu Dhabi will allow the country to maintain its leadership in this sector. Official data released on Monday showed capital pumped into the UAE’s aluminum industry has totaled around $10.7 billion, covering two smelters in Dubai and Abu Dhabi. The sum accounts for nearly 48 per cent of the overall smelter investments of nearly $22.3 billion in the Gulf Cooperation Council (GCC), which groups the UAE and five other Gulf nations. But the report by the Abu Dhabi Department of Economic Development highlighted...
The Emirate of Abu Dhabi pursues a comprehensive strategy to develop the aluminum industry by focusing on the concept of industrial clusters, and by attracting investment in manufacturing industries, which can depend on the "EMAL" smelter, for provision of required production inputs, such as aluminum alloy, liquefied aluminum, and also benefit from the advantages of competitiveness provided by the industrial zone at the Khalifa Port. The Emirate of Abu Dhabi move towards the aluminum industry was backed by favorable factors as the Emirate enjoys a competitive advantage in this industry at the global level, according to an official economic report. ''Abu Dhabi maintains great potential for growth, consistent with the development agenda of the Emirate, the "Economic Vision 2030" views metal...
