LME aluminium prices softened across key contracts on September 23 compared with the previous session, while opening stocks remained broadly stable. The sharpest movement was recorded in cancelled warrants, which declined by more than 20 per cent. The LME aluminium cash bid price stood at USD 3,239.5 per tonne on September 23, down from USD 3,240 per tonne on September 22, a decline of 0.02 per cent. The cash offer price fell to USD 3,240 per tonne from USD 3,242 per tonne, down 0.06 per cent. For the three-month contract, the bid price declined to USD 3,258 per tonne from USD 3,263.5 per tonne, marking a 0.17 per cent decrease. The offer price fell to USD 3,260 per tonne from USD 3,264 per tonne, down 0.12 per cent. The December 2027 aluminium bid price stood at USD 3,180 per tonne,...
Oklahoma Primary Aluminum has released a new economic impact study for its proposed USD 4 billion primary aluminium facility at the Tulsa Port of Inola, projecting a cumulative USD 49 billion contribution to the state’s economy through 2060. The study, prepared by Regional Economic Models Inc, describes the project as a “generational economic anchor” for northeastern Oklahoma, with thousands of jobs, higher household income and significant annual additions to state and national GDP. It was published as the developers face a local construction moratorium, a planned referendum and ongoing environmental and legal reviews. Scale and economic impact The joint venture between Emirates Global Aluminium and Century Aluminum says the 750,000-metric-tonne-per-year smelter would: Generate...
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On Tuesday, February 4, Aluminium Bahrain (Alba) took part in a high-level Bahraini delegation to Italy, as an opportunity to explore further expansion and partnership opportunities with Italian companies. Organised by the Bahrain Economic Development Board, the delegation was led by HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister of Bahrain, according to a Bahrain News Agency report. As part of the delegation, Alba chairman of the board of directors Shaikh Daij bin Salman Al Khalifa met with some of the eminent Italian companies, like Fluorsid, FATA, and Techmo Car, and signed important agreements to advance commercial opportunities for both parties. “As one of the key contributors to Bahrain’s economy, Alba is deeply...
Austria-based Hammerer Aluminium Industries (HAI) publicizes its takeover of Hydro’s aluminium extrusion plant in Romania's western county of Arad. 3 rd February’20 HAI stated: "After the signing in September’19 the acquisition by Hammerer Aluminium Industries of the Hydro extrusion plant in Romania becomes effective as of February’20. With this acquisition, HAI is systematically expanding its capacity and taking another step forward in the strategic development of all three company divisions: construction, industry and transport." The plant is located in Chisineu-Cris, Arad County, has two extrusion presses with a production capacity of 22,000 tonnes per year and 200 staffs are employed. After the completion of the acquisition process, HAI has now 10 extrusion presses with an annual of...
Rusal has announced to invest RUB 5.2 billion in 2020 for upgrading Sayanogorsk and Khakas Aluminium Smelters. It says the largest projects will be carried out in the casthouse of Khakas and the electrode production at Sayanogorsk Smelter with improvements to equipment on the site. In the casthouse of Khakas, a new cleaning system of crude aluminium will be installed, which will increase the purity of the metal and insure growth of its potential for product sales. Besides, two transformers will be replaced at one of the silicon rectifier substations to intensify the reliability of power supply. In Sayanogorsk Smelter, a large-scale modernization of anode baking furnaces will be carried out, which will involve a cost of RUB 12 billion in total. Currently, the Technical Directorate...
The US dollar rose against a basket its rivals for a second straight day on Tuesday. LME base metals cruised broadly higher on Tuesday. LME aluminium gained closed to 0.2%. Three-month LME aluminium boomeranged on Tuesday, creeping up to an intraday high of US$1,721 per tonne before sinking to a multi-year low of 1,685 per tonne. It closed at US$1,699 per tonne, up 0.15%. It is likely to trade at US$1, 680-1,730 per tonne today. As on Tuesday February 4, LME aluminium cash (bid) price stands at US$ 1686.5 per tonne, LME official settlement price stands at US$ 1687 per tonne; 3-months bid price stands at US$ 1712 per tonne, 3-months offer price is US$ 1713 per tonne; Dec 21 bid price stands at US$ 1845 per tonne, and Dec 21 offer price stands at US$ 1850 per tonne. The LME aluminium...
The Australian engineering company Clough Ltd based at Perth has been commissioned by Australian Bauxite Company’s subsidiary Alcore for their design and construction of aluminium fluoride plant in New South Wales. The contract which is secured by Clough, states that it will be building a recycling plant for Australian Bauxite subsidiary Alcore. In the plant, the by-products from aluminium smelters will be converted into aluminium fluoride. Alcore has worldwide exclusive rights to the aluminium-relation portion of CORE Technology, and after six months of test, work has committed to the best strategy for its first commercial plant whereby by-products from aluminium smelters will be converted into aluminium fluoride, which can be sold back to the smelters as an essential electrolyte for...
According to the recent update on Shanghai Metals Market, Shandong Weiqiao Group has raised the benchmark purchasing price for prebaked anode by RMB 20 per tonne for February. This brings the price to RMB 2,620 per tonne in cash. In the last seven months, Weiqiao consecutively cut its prebaked anode benchmark purchasing price. For January, the price was reduced by RMB 70 per tonne to RMB 2,600 per tonne in cash; while in December, the price was at RMB 2,670 per tonne after being declined by RMB 130 per tonne. But in China’s spot market, the average prebaked price has seen no change today, February 5, found Shanghai Metals Market. Yesterday, the price rose by RMB 10 per tonne from RMB 2,780 per tonne to RMB 2,790 per tonne. Other input costs have also recorded restraint today. The average...
The world’s largest aluminium smelter ex-China, Aluminium Bahrain B.S.C. (Alba), held its first workshop “One Team, One Goal” in the Executive Education Series for 2020 on 30 th January, for its Executives, Directors, and Managers at the Alba Club. The Leadership Workshop was held in cooperation with the Bahrain Institute of Banking and Finance (BIBF). The single-day team building Workshop embraced a series of group interactive activities, focused on key four areas – enhancing team spirit, creative problem solving, and negotiation and time management. This all will help to transform leadership skills and find new avenues to achieve the Company’s goals. Spoken on this occasion, Alba’s Acting Chief Executive Officer Ali Al Baqali said: “Team alignment and synchronization is a must to steer...
World Cancer Day was incepted on 4 th February 2000 at World Summit against Cancer for the New Millennium in Paris, today it marks its 20 th anniversary. The individuals and organisations over the last two decades, across the world, have contributed to the global collaboration to promote research, prevent cancer, improve patient services, raise awareness and mobilise the global community to curb the dreaded disease. It has been recorded that 9.6 million people yield to cancer globally every year, pulling the disease the second-leading cause of deaths worldwide. The conducted research states that 70% of these occur in low-to-middle income countries due to low penetration of awareness, infrastructure, technical and medical expertise, limited access to quality care, funding for research, and...
Century Aluminium’s Grundartangi Iceland aluminium smelter has been certified against Aluminium Stewardship Initiative’s (ASI) Performance Standard. The facility’s operations comprise an aluminium smelter and casthouse that use hydroelectric and geothermal energy. Fiona Solomon, Chief Executive Officer at ASI said: “We warmly congratulate Century Aluminum and its wholly-owned subsidiary, Norðurál Grundartangi ehf, on their ASI Certification, the first in Iceland and the first drawing on geothermal power. A focus on sustainability is essential throughout the aluminium value chain, and aluminium smelting and casthouses are a critical supply chain activity. We thank them for their commitment to ASI and look forward to their continued participation in our initiative.” The ASI Certification...
The second edition of AlCircle’s flagship e-magazine “ Aluminium LeaderSpeak 2020 ” is getting ready to be published this month. Means, the time is near to hear from the key players of the aluminium value chain industry about the market trend and analysis of this year and beyond. The companies and associations that have already confirmed their participation in this magazine include Hydro, BALCO, FIVES, Outotec, Assan Aluminium, Aluminium Association of Canada, and European Aluminium Association. But the AlCircle Team would still love to welcome more companies and associations on the magazine, in a bid to magnify the participation & outdo the global reach in this edition. Aluminium LeaderSpeak is a series of annual e-magazine, whereby the aluminium industry leaders share opinions as...
The US dollar recovered from two-week lows against a basket its rivals on Monday, as stronger-than-expected manufacturing data boosted investor sentiment. Fears about the coronavirus, meanwhile, eased after China took measures to cushion the impact of the new epidemic and pledged to do more to contain it and support the country’s financial markets. Three-month LME aluminium fell for a ninth straight day on Monday, February 3, dropping below $1,700 per tonne to end at $1,696.5 per tonne. It shed 1.65% on the trading day. It is expected to trade between $1,680 per tonne to $ 1,730 per tonne today. LME aluminium cash (bid) price, on February 3, inched down to US$ 1693.50 per tonne from US$ 1709 per tonne on January 31, while LME official settlement price decreased to US$ 1694.50 per tonne...
Vincent Christ, CEO, ELYSIS, has been announced as the Keynote Speaker at this year’s Future Aluminium Forum, which will take place in Québec City on 25 th – 27 th May 2020. This year’s theme is ‘From Pilot to Everyday’ and Mr Christ will discuss the opportunities that ELYSIS brings for the aluminium industry and for Québec, in view of the upcoming start-up of the ELYSIS Research and Development Centre. Originally developed to assist manufacturers and processors in adopting digital technologies and overcoming the challenges associated with implementation, the Future Aluminium Forum has become the annual meeting place to share case studies and discuss how Industry 4.0 can aid and optimise the aluminium manufacturing process through machine learning, robotics, automation and augmented...
The 25 th CRU World Aluminium Conference will be held in London during 20 th -21 st April’20. The conference usually attracts more than 240 distinguished, senior executives from 40 countries around the globe to discuss the vital issues the industry is facing and delivering excellent networking opportunities to the participants. The proven track record of the conference has delivered brief insight on supply, demand, price, premiums, sustainability and costs. The add-on to hear from the industry leaders, attendees get independent and expert updates on the outlook for the markets from CRU’s analysts. James Wren, an Aluminium analyst from CRU Group says: "CRU estimates that electric vehicles will represent 25% of the automotive market by 2030, however, the impact this will have on aluminium...
Emirates Global Aluminium, the UAE’s largest industrial company outside oil and gas, announced on Monday, February 3, that it secured a revolving credit facility worth $600 million, with a syndicate of UAE and international banks. The credit facility, priced at a competitive margin, is committed for three years replacing uncommitted facilities extended to EGA separately by a number of banks. Abdulnasser Bin Kalban, Chief Executive Officer of EGA, said: “EGA has grown into a substantial global business with operating assets on two continents and at every step of the aluminium value chain from mine to metal. This committed revolving credit facility is the next step in the evolution of our financing and balance sheet management strategy and enables a robust and structured approach to...
A stack of deals on trade and defence are on the board as New Delhi is making preparations to host US President Donald Trump as early on February’20. Several dates are being mulled over, the US President may be able to make it between February 21 and 25 with a three-stop India tour as his itinerary is still getting worked on. The summit-level meetings will be happening in Delhi between Indian PM and Donald Trump. Apart from that, the two powerful leaders of the world will be halting at Agra and Ahmedabad, which are inclusive in the plan. India and USA are likely to secure a mega trade deal of above $10 billion, which includes exemption from high duties on Aluminium, when United States Trade Representative Robert Lighthizer visits New Delhi and meets Piyush Goyal, the Indian Commerce and...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased over the Chinese New Year Holidays and stood at 884,000 tonnes as of Monday February 3. That was up 194,000 tonnes from 690,000 tonnes on January 23. The gain over the holiday that was extended by three days to contain the novel coronavirus was 10,000 tonnes larger than that over the normal holiday last year. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi and Shanghai climbed 84,000 tonnes and 2,000 tonnes from January 23 to stand at 320,000 tonnes and 105,000 tonnes on Monday, 03 February 2020. Inventories in Nanhai, Gongyi and Hangzhou stood...
On 2 nd February’20 the largest industrial company in the United Arab Emirates outside oil and gas, Emirates Global Aluminium (EGA), apprehended more than 100 staffs who contributed to the success of the company’s historical export of UAE-developed industrial technology to Aluminium Bahrain (ALBA) The congratulations ceremony in Dubai was led by EGA’s Managing Director Abdulla Kalban and Chief Executive Officer Abdul Nasser Bin Kalban. In 2016, EGA secured the competitive international tender to deliver smelting technology to ALBA regarding its Line 6 expansion project. The win positioned EGA to rank as the first UAE industrial company to license its core process technology internationally and was a historic event in the development of a knowledge-based economy in the UAE. EGA supplied...
Post the Chinese New Year holiday from January 24 to February 2, 2020, the Chinese market has seen a “never-before” sharp drop in A00 aluminium ingot price of RMB 500 per tonne to stand at RMB 13,600 per tonne on February 3, found Shanghai Metals Market. This brings the price as low as was found in February 2019. The average prices today are expected to range between RMB 13,580 per tonne and RMB 13,620 per tonne, with spot contract to be traded at a discount price of RMB 120 per tonne to RMB 80 per tonne. This sharp decline could be attributed to the current suspension of downstream operations due to Coronavirus, resulting in poor demand and transaction of aluminium ingots. Shenyang in China has seen the highest drop in the ingot price of RMB 550 per tonne to RMB 13,600 per tonne,...
