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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The US dollar dropped to two-week lows against a basket its rivals on Friday. LME aluminium price fell to the lowest since 22 October. LME price closed at US$ 1709.5 per tonne on Friday, January 31. Three-month LME aluminium slipped to its lowest in more than three months at US$1,714 per tonne on Friday, before it recovered some ground to end the trading day 0.2% lower at US$1,725 per tonne. The contract is likely to trade between US$1,700-1,750 per tonne today. As on Friday January 31, LME aluminium cash (bid) price stands at US$ 1709 per tonne, LME official settlement price stands at US$ 1709.5 per tonne; 3-months bid price stands at US$ 1724 per tonne, 3-months offer price is US$ 1724.5 per tonne; Dec 20 bid price stands at US$ 1855 per tonne, and Dec 20 offer price stands at US$ 1860...
We are once again more than happy to share the performance metrics of our third quarterly e-magazine “ Aluminium Middle East: Focus 2020 ”, which in just two months has achieved overwhelming responses from all over the world. In the era of advanced digital media when every outcome is measurable and transparent, we are delighted to find how our e-magazine has created a buzz on the internet. In two months’ time, the magazine has reached 37,111 viewers across 50 countries and achieved 120,719 hits in total. The average time spent by a user on the magazine is 7 minutes 4 seconds , with a direct reach of 852 . Besides, it has earmarked a notable performance on social media. While on Facebook, it has achieved 10,426 reach , on LinkedIn and Twitter, it has secured 5,428 and 1,665 reach ,...
Hindalco Industries Ltd has reduced the prices of aluminium ingots, billets, and wire rods by nearly 1.5%. With effect from January 30, the aluminium ingot price now stands at INR 140,750 per tonne, a decrease of 1.57 from INR 143,000 per tonne on January 28. This is the third time in a row that the company has dropped the prices of its aluminium ingots. Hindalco has dropped the prices of wire rods and billets by 1.46% and 1.5% from January 28. The prices for Hindalco products now stand at INR 151,350 per tonne and INR 147,350 per tonne, from INR 153,600 per tonne and INR 149,600 per tonne. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. Aluminium operations of the company, excluding those of its US arm...
The Alcoa Corp’s Australian aluminium smelter was slug by power failure as on 31st January’20, following a transmission line toppled amidst high temperatures in the south-eastern part of the country. Australian Energy Market Operator, the administrator of electricity supply said: “the transmission line outage has resulted in a separation between Victoria and South Australia at the Heywood Interconnector, as well as interrupting supply at the Portland aluminium smelter.” An Alcoa spokeswoman communicated: “At approximately 2:20 p.m. EST on 31st January, Portland Aluminium smelter lost power to both potlines due to a fault external to the plant. The cause of the fault is currently unknown.”
United Company Rusal, one of the world’s largest aluminium companies by primary production output, has reportedly invested around 60 million roubles for modernising coke-calcining kiln at its Volgograd aluminium smelter. The modernisation of the kiln is for enhancing the environmental aspects of production and intensifying the plant’s coke calcining process. Following the modernisation, the kiln’s capacity is expected to increase to 12 tonnes per hour as compared to 8-9 tonnes at any other comparable plants. The modernisation includes the development of new structural segments for making raw materials go through a preparatory ‘drying’ process so the coke enters the heating chamber of the kiln has a lower moisture content compared with earlier generations of kilns. The consumption of...
LME aluminium price dropped to the lowest since 25 October. Benchmark aluminium price on London Metal Exchange closed at US$ 1722.5 per tonne on Thursday, January 30, a decrease of 0.58% from US$ 1732.5 per tonne on Wednesday. As on Thursday January 30, LME aluminium cash (bid) price stands at US$ 1722 per tonne, LME official settlement price stands at US$ 1722.5 per tonne; 3-months bid price stands at US$ 1735.5 per tonne, 3-months offer price is US$ 1736 per tonne; Dec 20 bid price stands at US$ 1868 per tonne, and Dec 20 offer price stands at US$ 1873 per tonne. The LME aluminium opening stock increased to 1274325 tonnes. Live Warrants totalled 786625 tonnes, and Cancelled Warrants were 487700 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1732 per tonne. SHFE...
Benchmark aluminium price on London Metal Exchange closed at US$ 1732.5 per tonne on Wednesday, January 29, a decrease of 0.69% from US$ 1744.5 per tonne on Tuesday. As on Wednesday January 29, LME aluminium cash (bid) price stands at US$ 1732 per tonne, LME official settlement price stands at US$ 1732.5 per tonne; 3-months bid price stands at US$ 1747.5 per tonne, 3-months offer price is US$ 1748 per tonne; Dec 20 bid price stands at US$ 1883 per tonne, and Dec 20 offer price stands at US$ 1888 per tonne. The LME aluminium opening stock increased to 1256350 tonnes. Live Warrants totalled 776425 tonnes, and Cancelled Warrants were 479925 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1754.50per tonne. SHFE Aluminium Price Trend Shanghai Futures Exchange is closed...
Tasmania’s bauxite miner has declared a key appointment as it is moving ahead in regards to the production of booming aluminium fluoride through an unprecedented refining process. The Australian Bauxite Limited project is eyeing to steer the production plant at Bell Bay, north-west of Launceston. This would deliver about 50 direct jobs in the beginning, and then it will add up to 78 when the second shift gets started. The maximum direct employment would rise to 300 when the company starts potential four further production modules to the original plant. CSIRO senior principal research leader Mark Cooksey will take six months' leave from the national science agency to help Australian Bauxite Limited subsidiary ALCORE Limited commercialise the development of aluminium fluoride production....
Africa’s primary aluminium production totalled 139,000 tonnes in December 2019, representing a decrease of 1.42 per cent from 141,000 tonnes in December 2018, according to the International Aluminium Institute (IAI). The output was up 4.51 per cent from November’s production of 133,000 tonnes and 0.72 per cent from October’s production of 138,000 tonnes. IAI reported that primary aluminium production came in at 1.643 million tonnes in 2019 as compared to 1.668 million tonnes in 2018. That was down 1.5 per cent year-on-year. Global primary aluminium production totalled 5.435 million tonnes in December, with a year-on-year drop of 1.11 per cent. The output rose by 3.35 per cent from 5.259 million tonnes in November and 1.61 per cent from 5.349 million tonnes in October. For the full year,...
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, has been distinguished with the ‘Bronze Medal’ 2020 in recognition of its commitment and performance in terms of Corporate Social Responsibility (CSR) by the international rating platform EcoVadis. Based on international CSR standards including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000, covering 190 spend categories and 150 countries, the EcoVadis certification takes into consideration four areas: Environment, Labor Practices, Fair Business and Sustainable Procurement. Commenting on this occasion, Alba’s Acting Chief Executive Officer Ali Al Baqali said: “This certification is a reflection of our commitment to CSR and Sustainability initiatives. This is just the...
After recapitulating the aluminium industry market in the year gone by, now it is the time to speculate how the earlier investments, policy changes, and price trend is going to transpire the market this year. This is the reason why AlCircle has recently launched a report “Global Aluminium Industry Outlook 2020” , whereby it has shared its forecast and estimation for the entire value chain of the metal. Given the slowdown in aluminium demand and prices due to economic downturn and trade issues raised by the US, industry players and market participants have downwardly revised its forecast. According to them, the industry may face some uncertainty in the first half of 2020 because of the lack of clarity on resolving the trade issues between the United States and China. However, the long-term...
Benchmark aluminium price on London Metal Exchange was down 0.63% on Tuesday, January 28 to closed at US$ 1744.5 per tonne, from US$ 1755.5 per tonne on Monday, January 27 As on Tuesday January 28, LME aluminium cash (bid) price stands at US$ 1744 per tonne, LME official settlement price stands at US$ 1744.5 per tonne; 3-months bid price stands at US$ 1759 per tonne, 3-months offer price is US$ 1759.5 per tonne; Dec 20 bid price stands at US$ 1893 per tonne, and Dec 20 offer price stands at US$ 1898 per tonne. The LME aluminium opening stock dropped to 1242425 tonnes. Live Warrants totalled 732075 tonnes, and Cancelled Warrants were 510350 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1766.50 per tonne. SHFE Aluminium Price Trend Shanghai Futures Exchange is...
After a rise of 0.9 per cent to 321,000 tonnes in November, aluminium stocks at three major Japanese ports at the end of December recorded a drop of 2.2 per cent to 314,000 tonnes, according to Reuters report. In October also the stocks had registered a fall of 2.6 per cent from 326,473 tonnes in September to 318,200 tonnes. Marubeni Corporation data showed the aluminium stocks at Yokohama, Nagoya, and Osaka in December stood at 160,000 tonnes, 139,000 tonnes, and 15,000 tonnes, respectively. The stocks at Yokohama increased 3.2 per cent month-on-month from 155,000 tonnes and 6.17 per cent year-on-year from 150,700 tonnes. But at Nagoya, the stocks decreased 8 per cent month-on-month as well as year-on-year from 151,200 tonnes and 151,100 tonnes, respectively. At Osaka, however, the...
Hydro announced that it will sell its closed Kurri Kurri aluminium smelter to a joint venture of local property and residential land developers Stevens Group and McCloy Group. Hydro's Kurri Kurri aluminium smelter started production in 1969 and went offline in 2012 due to the continued weak macroeconomic environment, low metal prices, uncertain market outlook and a strong Australian dollar relative to the U.S. dollar. Hydro decided to permanently close Kurri Kurri in 2014. Since the closure, Hydro has been planning to demolish, remediate and redevelop the site in accordance with environmental and biodiversity requirements. “Hydro and the Australian company Flow Systems Pty. Ltd. reached an agreement on a sale of the Kurri Kurri primary production site in July 2018. However, the agreement...
Benchmark aluminium price on London Metal Exchange opened lower at US$ 1755.5 per tonne on Monday, January 27. That was down 1.13% from Friday’s close of US$ 1775.5 per tonne. As on Monday January 27, LME aluminium cash (bid) price stands at US$ 1755 per tonne, LME official settlement price stands at US$ 1755.5 per tonne; 3-months bid price stands at US$ 1764 per tonne, 3-months offer price is US$ 1765 per tonne; Dec 20 bid price stands at US$ 1895 per tonne, and Dec 20 offer price stands at US$ 1900 per tonne. The LME aluminium opening stock dropped to 1248025 tonnes. Live Warrants totalled 732075 tonnes, and Cancelled Warrants were 515950 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1770.50 per tonne. SHFE Aluminium Price Trend Shanghai Futures Exchange is...
North America’s primary aluminium production dropped by 1.52% year-on-year from 329,000 tonnes but up 4.18% month-on-month from 311,000 tonnes to 324,000 tonnes in December 2019. The output for the full year 2019 stood slightly higher at 3.809 million tonnes, an increase of 0.93% from 3.774 million tonnes in 2018, according to the latest data showed by the International Aluminium Institute (IAI). South America produced 96,000 tonnes of primary aluminium in December, an increase of 4.35% from 92,000 tonnes in December 2018. On a month-on-month comparison, output increased by 1.05% from 95,000 tonnes in November. Primary aluminium production declined from 1.164 million tonnes in January-December 2018 to 1.079 million tonnes in January-December 2019. That was down 7.3% year-on-year.
The Canadian aluminium industry is in for a slump year as the demand for the metal is projected downswing. Mr Jean Simard, CEO and President, Aluminium Association of Canada communicated that global overproduction of the metal combined with a general economic slowdown around the world, and the probability of recessions would further affect the export of Canadian aluminium. The President said “We are at the end of a very long, probably the longest manufacturing cycle in our history. We had ten years of constant growth and demand in our economy. There is still growth in demand but it’s not at the same pace as it has been in the past ten years.” Mr Jean Simard’s was straight to put up a finger towards China’s rampant production of aluminium. He said “They produce 57 per cent of all the...
United States President, Donald Trump declared that tariffs on some imported aluminium products will rise from next month. Trump has issued a decree alleging that manufacturers from some countries are evading existing import tariffs by shipping derivative goods instead of raw metal. On 24 th January’20, the White House issued the declaration which hikes the duties on derivative aluminium by 10%. Countries like Argentina, Australia, Canada and Mexico are spared from the new aluminium tariffs. The declaration notes an unusual rise in imports of derivative aluminium since the initial round of tariff hike prompted 3 years ago by the Administration’s Section 232 investigation. Trump justified in the announcement: “The net effect of the increase of imports of these derivatives has been to erode...
