LME aluminium prices softened on September 22, with the cash and three-month contracts declining from the previous trading session, while LME aluminium opening stocks also edged lower on September 23. On September 22, the LME aluminium cash bid price stood at USD 3,240 per tonne, down 0.66 per cent from USD 3,261.5 per tonne on September 21. The cash offer price was USD 3,242 per tonne , down 0.63 per cent from USD 3,262.5 per tonne. The LME aluminium 3-month bid price stood at USD 3,263.5 per tonne on September 22, compared with USD 3,272.5 per tonne on September 21, representing a decline of 0.28 per cent. The 3-month offer price fell 0.27 per cent to USD 3,264 per tonne from USD 3,273 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
SHFE aluminium closed at RMB 24,245 per tonne, edging up 0.02 per cent. The price stood above the MA10 (24,236) but was capped by the MA5 (24,386), still well above the MA30 (24,084) and MA60 (23,729.92). The medium-term bullish structure remained intact, while short-term moving average resistance was evident. On the MACD indicator, DIF stood at 102.44 and DEA at 125.85, with the high-level death cross persisting. The green bar narrowed to -46.80 (previous day -50.36), indicating slightly weakening bearish momentum. Trading volume shrank to 52,300 lots, reflecting a strong wait-and-see sentiment in the market. The suggested core trading range for SHFE aluminium is 24,000-24,600. LME aluminium closed at USD 3,266 per tonne, up 0.21 per cent. The price was slightly below the MA5 (3,275.6)...
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Australians have massively supported the Australian Workers’ Union campaign to champion Australian made products in huge numbers. An astonishing 88% of people admitted that Australia should be making more essential products, although just over eight out of ten people said state and federal governments should be using more Australian products for infrastructure projects, even if they are highly-priced. The COVID-19 epidemic has catered as a caution light as per YouGov poll that Australia needs to be less dependent on import from other countries, targeting China as a prime. That figure rises to an incredible 98% for those aged over 65, whilst even 77% of 18-34-year-olds also support the view. 82% believe that when the government builds infrastructure it should use Australian-made products...
The euro jumped to a 12-week high against the US dollar on Thursday. The dollar index, which gauges the greenback against a basket of major currencies, fell for a eighth straight day and plumbed the lowest since March 12 at 96.5774. Three-month LME aluminium fluctuated to close a tad lower at US$1,564.5 per tonne on Thursday. As of Thursday June 4, LME aluminium cash (bid) price stands at US$ 1535 per tonne, LME official settlement price stands at US$ 1535 per tonne; 3-months bid price stands at US$ 1560.50 per tonne, 3-months offer price is US$ 1560.50 per tonne; Dec 21 bid price stands at US$ 1672.50 per tonne, and Dec 21 offer price stands at US$ 1672.50 per tonne. The LME aluminium opening stock stood at 1526250 tonnes. Live Warrants totalled 1324400 tonnes, and Cancelled Warrants...
On the weak consumption of domestic primary aluminium in China that led to a slower decline in inventories on June 4, the A00 aluminium ingot price has recorded a drop of RMB 20 per tonne to stand at RMB 13,480 per tonne on Friday, June 5, found Shanghai Metals Market. The average prices are expected to range between RMB 13,460 per tonne and RMB 13,500 per tonne, with spot contract to be traded at a premium price of RMB 90-130 per tonne. Among all the major Chinese markets, Wuxi has seen the highest decline in A00 aluminium ingot price of RMB 40 per tonne to stand at 13,460 per tonne on Friday, June 5. In Foshan, Chongqing, and Linyi, the A00 aluminium ingot price has plunged by RMB 30 per tonne to RMB 13,470 per tonne and RMB 13,510 per tonne, respectively. In Gongyi, the price has...
The London Metal Exchange desires to launch a platform to trade ‘low-carbon’ aluminium mostly manufactured with renewable energy. This will mark as an inceptive in the exchange’s 143-year history a metal will be traded deployed on its environmental footprint. Matt Chamberlain, CEO, LME said: “The spot trading platform will go live next year, connecting buyers and sellers of aluminium that meets certain low-carbon criteria.” The move reveals eagerness among companies and investors for disclosure of environmental, social and governance data. It comes after pressure from En+, owner of Russian producer Rusal, for the LME to influence suppliers of the lightweight metal to divulge their carbon footprint on the exchange. Mr Chamberlain added: “We have now moved on to the next great emerging...
Rio Tinto is on its way to slash aluminium production by 8000 tonnes at the Jonquière complex. At this time, less than 20 pots have been closed for maintenance and did not get restarted. The plan is not to restart pots that need maintenance up to a maximum of approximately 100 pots at Arvida. Rio Tinto management confirms that the current situation has led them to make this decision. Rio Tinto has stated that the depressing market conditions in the aluminium sector have made Rio Tinto impose certain measures to maintain its competitive position. Among other measures aimed at improving competitiveness and adapting to market demand in North America, Rio Tinto Aluminum will continue the non-restart of tanks at the Arvida plant, gradually reducing its production this year. As per the...
Press Metal Aluminium Holdings Berhad, the largest Aluminium smelter in South East Asia announced its financial results for the three months ended 31 March 2020. Revenue decreased by 15.7% year-on-year to RM1.83 billion in 1Q20. The group’s profit after tax and minority interest dropped by 10.9% to RM102.57 million in 1QFY20 on lower realised aluminium prices. Group Chief Executive Officer Tan Sri Paul Koon stated: “We were faced with a challenging start to the year due to the escalation of Covid-19 which became a pandemic, affecting all countries. Majority of the world economy was halted or severely disrupted by enforced quarantines, lock downs and travel restrictions. With reduced economic activities and shutdowns in industries, both the aluminium demand and prices were impacted....
After two consecutive cuts this month, Hindalco has increased the prices of its aluminium ingots, billets, and wire rods by over 1 per cent, with effect from June 4, 2020. With the latest price hike, Hindalco’s aluminium ingot price has jumped to INR 133,250 per tonne, 1.33 per cent higher from INR 131,500 per tonne on June 3. The prices of Hindalco’s aluminium wire rods and billets are now at INR 144,350 per tonne and INR 140,350, respectively, after rising by 1.23 per cent and 1.26 per cent from the previous day. On June 3, Hindalco’s aluminium wire rods and billets prices were INR 142,500 per tonne and INR 138,600 per tonne, respectively. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined slower this week. Inventories stood at 847,000 tonnes in the week ended June 4, down 46,000 tonnes from previous week. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi, Shanghai, and Nanhai decreased by 28,000 tonnes, 6,000 tonnes and 2,000 tonnes from May 28 to stand at 326,000 tonnes, 117,000 tonnes and 178,000 tonnes on Thursday, 04 June 2020. But the inventories in Linyi increased by 1,000 tonnes to stand at 9,000 tonnes. The inventories of primary aluminium in Hangzhou, Gongyi and Tianjin stood at 106,000 tonnes, 45,000 tonnes and 57,000...
A00 aluminium ingot price climbed by RMB 110 per tonne or 0.82 per cent from Wednesday’s price of RMB 13390 per tonne, after two days of decrease. The price now stood at RMB 13500 per tonne today and is expected to move within a range of RMB 13480-13520 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB 90-130 per tonne. In Foshan and Wuxi, the price inched up by RMB 120 per tonne and RMB 110 per tonne to stand at RMB 13500 per tonne each. Their average prices are expected to range within RMB 13480-13520 per tonne and RMB 13490-13510 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 13510 per tonne and 13500 per tonne, up RMB 90 per tonne and RMB 100 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi rose to stand at RMB...
Denis Mazerolle, The President of Nature Alu has built a dream team to produce the only high-purity aluminium plant in North America. In doing so in Quebec, Canada, he and his partners are developing a Canada-Europe supply chain in a sector with very high added value. Mazerolle has industry experience of around 32 years working with Alcan and then with Rio Tinto and never looked out for retirement. He is now 56 years and with his former colleague Luc Boivin, they challenged themselves to produce 99.99% pure aluminium in Quebec. High-purity aluminium is highly demanded by capacitor manufacturers, as well as by lithium-ion battery manufacturers, which are used in smartphones, as well as electric cars. The manufacturers of the powder used in speciality 3D printers are also very fond of pure...
The US dollar eased further on Wednesday, June 3, while stocks on Wall Street posted yet another robust day, as better-than-expected economic data bolstered optimism over the recovery from coronavirus-led shutdowns, which outweighed brewing US-China tensions and widespread protests in the US. The dollar index, which gauges the greenback against a basket of major currencies, fell for the seventh straight day and plumbed the lowest since March 12 at 97.1882. Three-month LME aluminium notched a new 10-week peak of US$ 1,570 per tonne in Northern American trading hours on Wednesday, before closing up 0.42 per cent at US$ 1,565.5 per tonne. Doubts over whether demand recovery overseas could justify the recent rally in aluminium prices will keep market sentiment in check, and the contract is...
Hindalco Industries Ltd has continued to cut prices of its aluminium ingots, billets and wire rods by 1%.This marked the second consecutive cut in price of the same products. With effect from June 3, the price for Hindalco aluminium ingots now stands at INR 131,500 per tonne, a decrease of 1.13% or INR 1,500 per tonne from INR 133,000 per tonne on June 1. The company is now selling its wire rods and billets at INR 142,600 per tonne and INR 138,600 per tonne with effect from Wednesday, 03 June 2020. That was down 1.04% or INR 1,500 per tonne and 1.07% or INR 1,500 per tonne from June 1. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down nearly 16% so far in 2020...
According to a recent report, a global aluminium producer has asked for a premium of $85 per tonne from Japanese buyers for primary metal shipments during the September quarter of 2020. This is 3.7 per cent higher than the current quarter premium, reported three sources directly involved in quarterly pricing talks on Monday, June 1. For the April-June quarter, Japanese buyers agreed to pay a premium of $82 per tonne, down 1.2 per cent from the prior quarter and the lowest since the October-December quarter in 2016. A year ago, top aluminium producers had sought a premium of $115-120 per tonne from Japanese buyers for the September quarter, up 10 to 14 per cent from $105 per tonne of premium agreed for the June quarter. The above data represents that the premium offered for the September...
New Day Aluminum Holdings LLC has announced that it has appointed John Habisreitinger as Chief Operating Officer, who would be responsible for the global operations of New Day’s business. New Day Aluminum Holdings LLC is the parent company of Noranda Bauxite, Noranda Alumina, and NICHE Industrial Chemicals. Mr Habisreitinger comes with over 30 years of industry experience in the aluminium and alumina sectors. He was earlier associated with New Day Aluminum as Executive Vice President and then with NICHE Industrial Chemicals as President. Prior to that, he was the President of Noranda Alumina LLC. He also held senior-level positions with Kaiser Aluminum, Norandal, and Noranda. Mr Habisreitinger graduated from Southeastern Louisiana University and completed an MBA from the University of New...
CLAFIS Ingenious is nominated as the permanent supplier of engineering services for Damco Aluminum Delfzijl Cooperative (Aldel) in the coming years. CLAFIS and Aldel have set foot into a structural agreement that will run at least up to the end of 2022. The projects carried out under the direction of the engineering bureau include feasibility studies, concept engineering assignments, basic engineering, detail engineering and assignments in the field of implementation, environment and permits. Aldel aluminium smelter in the Oosterhorn industrial area near Farmsum in Delfzijl was put into operation by the then Royal Blast Furnaces in 1966. Aldel is the last company in the Netherlands to make aluminium. The craft factory had some difficult years. Under the leadership of a new investor, the...
The US dollar eased further on Tuesday. The dollar index, which gauges the greenback against a basket of major currencies, fell for a sixth straight day and plumbed the lowest since March 13 at 97.4335. LME aluminium climbed 1.4% and SHFE aluminium inched up 0.3%. Three-month LME aluminium climbed in Northern American trading hours on Tuesday. It ended at a 10-week peak of US$1,559 per tonne, up 1.37% on the day. As of Tuesday June 2, LME aluminium cash (bid) price stands at US$ 1499.50 per tonne, LME official settlement price stands at US$ 1499.50 per tonne; 3-months bid price stands at US$ 1529 per tonne, 3-months offer price is US$ 1529 per tonne; Dec 21 bid price stands at US$ 1645 per tonne, and Dec 21 offer price stands at US$ 1645 per tonne. The LME aluminium opening stock stood at...
RUSAL one of the leading global aluminium producers declares the conclusion of the book-building process for the new placement of its 10-year ruble-denominated bonds with a three year put option on the Moscow Exchange, the nominal value of 10 billion rubles and a coupon rate of 6.5% per annum, a record low for the Company. During the book building, the coupon rate guidance was lowered twice from the initial 6.55-6.75% range with the final coupon rate fixed at 6.5%. The new rate transcended the record low bond rate set by RUSAL last year and became the lowest bond rate in the history of the Company’s placements. Oleg Mukhamedshin, RUSAL’s Director for Strategy, Business Development and Financial Markets said: “The successful issue of our ruble bonds coupled with the interest from the...
The Aluminium Center Foundation on 1 st April’20 has integrated into a new sector group under Koninklijke Metaalunie. A new name has been set up for this new initiative: the Dutch Aluminum Association (DAA), the organization for the aluminium industry in the Netherlands. At the start, the new sector group had ten members: Almet Benelux, Aludex , Aluminium Service Breukelen , Bersselaar Constructie , Garfield , Gové, Highrise , Norsk Hydro , Melis Gietschappen and Willems Boven-Leeuwen . They welcomed two new members this week at the very first member meeting, which took place online: Comhan Holland Aluminium and Marteq . The DAA aims to represent the collective interests of the chain of aluminium-producing, trading and processing companies and their specific suppliers. The first members'...
