LME aluminium prices gained ground on November 4, with cash and futures contracts moving higher. The Asian Reference Price also edged up, while exchange inventories declined. Alumina Platts prices, however, moved slightly lower. The cash bid rose by USD 53.50 per tonne , or 1.74 per cent, to USD 3,134.50 per tonne from USD 3,081 per tonne. The cash offer increased 1.72 per cent to USD 3,135 per tonne from USD 3,082 per tonne. Three-month aluminium prices also advanced. The bid climbed 1.08 per cent to USD 3,073 per tonne on November 4 from USD 3,040 per tonne, while the offer gained 1.05 per cent to USD 3,074 per tonne. It was previously at USD 3,042 per tonne . Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market...
Global primary aluminium production experienced a sequential recovery in the third quarter of 2026, supported by the gradual restoration of disrupted smelting capacity in the GCC countries, stronger operational performance in Europe and Oceania, and incremental production gains across Asia and China. But beneath this quarterly improvement lies a contrasting reality - global output remained below the corresponding levels of both 2025 and 2024. According to data from the International Aluminium Institute (IAI), global primary aluminium production reached 18.377 million tonnes in Q3 2026, an increase of 2.1 per cent from 18.003 million tonnes in the preceding quarter. However, compared with Q3 2025, when production totalled 18.683 million tonnes, output declined by 1.64 per cent. Production...
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As reported by a company press release, Rio Tinto has completed the lease and sale of a dock and land in Kitimat, British Columbia, to LNG Canada for an estimated value of $576 million. LNG Canada was a joint venture comprising Shell, PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS. It is a large industrial energy project to build and operate an LNG liquefaction, storage and loading terminal in the port of Kitimat, BC. The company entered into an agreement with Rio Tinto in 2014 for various options to lease or purchase its dock or wharf and areas of land. Rio Tinto Chief financial officer Jakob Stausholm said "This sale demonstrates our ability to generate cash from an existing asset, without losing future cash flow, as we continue to drive value across our entire portfolio.” Rio...
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its plunge over the weekend by RMB 30 per tonne on Monday, November 12, to stand at RMB 13830 per tonne. The average prices are expected to range between RMB 13810 per tonne and RMB 13850 per tonne, with spot discount to stand at RMB 40 per tonne. In the east, the ingot price has slipped by RMB 35 per tonne and stood at RMB 13830 per tonne, same as that of the average spot price. In the south and north, on the other hand, the prices have dropped by RMB 50 per tonne and RMB 10 per tonne to stand at RMB 13900 per tonne and RMB 13850 per tonne, respectively. The average ingot spot price has been witnessing drop week-on-week in spite of the lowered inventories. Social inventories of primary aluminium across eight...
The US dollar rose against most major currencies on Friday and settled at 96.88. Major Base metals fell across the board as LME aluminium declined 1.31% last week. LME aluminium closed at US$ 1964.5 per tonne on Friday November 9, down from US$ 1977 per tonne on Thursday November 8. LME aluminium fell to the lowest of last Friday night at $1,954 per tonne today morning as the US extended the deadline for sanctions on Russian aluminium producer Rusal. SMM expects LME aluminium to trade at US$1,950-1,990 per tonne today. As on November 9, Friday, LME aluminium cash (bid) price stood at US$ 1963.50 per tonne, LME official settlement price stands at US$ 1964.50 per tonne; 3-months bid price stands at US$ 1971 per tonne, 3-months offer price is US$ 1971.50 per tonne; Dec 19 bid price stands at...
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has once again extended the expiration date of certain general licenses related to EN+ Group plc (EN+), United Company RUSAL PLC (RUSAL), and GAZ Group (GAZ) until January 7, 2019. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) had extended the expiration date from 12 November 2018 to 23 October 2018. “EN+, RUSAL, and GAZ are proposing substantial corporate governance changes that could potentially result in significant changes in control of these sanctioned entities. As the review of these complex proposals is ongoing, OFAC is extending the expiration date of related licenses until January 7,” said a Treasury spokesperson. In April, The U.S. Treasury had imposed sanctions against...
British-owned Liberty, part of Sanjeev Gupta’s global GFG Alliance, has received the financing for the purchase of Aluminium Dunkirk, Europe’s largest aluminium smelter from Rio Tint. The company has entered into a committed financing agreement with a syndicate of major international banks. The term loan secured on standard financial terms provides five year committed funds, it said in a press release. “This now clears the way for the eagerly-anticipated deal on the 560-worker site to be formally completed before the end of November following the completion of closing mechanics.” The development follows extensive talks over recent months aimed at securing French Government approvals, long-term power price contracts and robust measures to protect the business in the face of aluminium...
On October 29 to November 1, Belem, the capital of the Para state of Brazil held the 36th International Conference and Exhibition of ICSOBA. The selection of Belem for the 36th International Conference and Exhibition followed ICSOBA’s practice of rotating the venue of International Meetings to countries that play an important role in the global aluminium industry. This year, the conference obtained support from Hydro, the host sponsor and attracted 225 delegates from 26 countries. From Brazil alone, 95 graced the conference with their presence. Very high-quality papers were selected for presentations (99) and published in volume 47 of TRAVAUX conference proceedings. During the Conference, an Exhibition of latest technologies, equipment and other devices for the bauxite, alumina and...
According to the data shared by Shanghai Metals Market, China’s primary aluminium production for the month of October stood at 3.114 million tonnes, up 3.5 per cent from the same period last year. This grew overall production during January-October to 30.166 million tonnes but still stood lower by 0.8 per cent than the corresponding period last year. As of the end of October, there were about 37.48 million tonnes of primary aluminium capacity in operation across China and about 4.82 million tonnes of idle capacity. Operating rates dipped 0.3 percentage points from a month ago to 88.6 per cent. New capacity continued to commission while old capacity continued being cut. Operating capacity, on the other hand, expanded since September after a steep contraction in July-August. SMM data shows...
Shanghai Metals Market believes that supplies of aluminium ingot in China may expand in the fourth quarter of 2018 as the demand would likely to remain sluggish. Production, on the other hand, grew month-on-month. In September, China produced 3 million tonnes of primary aluminium which in the next month increased to 3.114 million tonnes. This imbalance between production and consumption led to losses for many aluminium producers and consequentially output cut. About 1.35 million tonnes of capacity has been cut so far this year. But new capacities are soon to come online, on the other hand. SMM estimates that more than 2 million tonnes of new capacity would come online across 18 producers by the end of the year. Monthly operating primary aluminium capacity held relatively stable in...
Base metals closed mixed with SHFE contracts rising for the most part. SHFE aluminium lost 0.14%, while LME aluminium slid 0.23%. LME aluminium was pressured by a strong US dollar as the Federal Reserve announced that it will maintain its monetary policy and indicated further gradual rate hikes. LME aluminium closed Thursday’s trading at US$ 1977 per tonne. It slumped from a high of US$2,002 tonne to the lowest overnight at US$1,981per tonne. Shanghai Metals Market expects the contract trade at US$1,960-2,000 per tonne today. As on November 8, Tuesday, LME aluminium cash (bid) price stood at US$ 1975 per tonne, LME official settlement price stands at US$ 1977 per tonne; 3-months bid price stands at US$ 1981 per tonne, 3-months offer price is US$ 1982 per tonne; Dec 19 bid price stands at...
Shanghai Metals Market research found that aluminium spot discounts barely recorded any change on Wednesday, November 7, across the Shanghai Market while traders remained enthusiastic to offload cargoes. The SHFE aluminium contract for November delivery also inched up though in a tight range in the morning trading hours. Most transactions in Shanghai were heard at RMB 13,800 per tonne to RMB 13,820 per tonne, with spot discounts at RMB 50 per tonne to RMB 30 per tonne, compared to RMB 40 per tonne to RMB 30 per tonne in the previous day, against the SHFE 1811 contract. Transactions in Hangzhou, on the other hand, were mostly done at RMB 13,840 per tonne to RMB 13,850 per tonne while that in Wuxi were at RMB 13,800 per tonne to RMB 13,820 per tonne. But apart from this, the overall trades...
The US dollar index fell to the lowest in two weeks after the US midterm election results and as investors looked ahead to a Federal Reserve meeting for signals on future interest rate hikes. LME and SHFE base metals closed mixed as LME aluminium led the increase and rose 1.61%. LME aluminium closed Wednesday’s trading at US$ 1951.5 per tonne. It then surged to a high of US$1,993.5 per tonne near closing and settled at US$1,985.5 per tonne. Shanghai Metals Market expects the contract to trade at US$1,960-1,990 per tonne today. As on November 7, Tuesday, LME aluminium cash (bid) price stood at US$ 1950.50 per tonne, LME official settlement price stands at US$ 1951.50 per tonne; 3-months bid price stands at US$ 1962 per tonne, 3-months offer price is US$ 1963 per tonne; Dec 19 bid price...
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, came down again by 40,000 tonnes from last Thursday, November 1, to 1.485 million tonnes as of today, November 8. SMM believes fewer arrivals to the warehouses accounted for the extended decline in social inventories. In Wuxi and Jiangsu, the inventory dropped from straight from 659000 tonnes, as on November 1, to 643,000 tonnes today while the inventory in Shanghai plunged from 346,000 tonnes to 341,000 tonnes. Inventories in some markets like Hangzhou, Zhejiang; Linyi, Shandong; and Chongqing, on the other hand, rose a bit from 97,000 tonnes to 98,000 tonnes, from 23,000 tonnes to 25,000 tonnes, and from 22,000 tonnes to 24,000 tonnes,...
The US dollar dipped from Monday as America headed to the polls. It closed at 96.27, limited by investor caution about the US midterm elections and potential fallout for the world's largest economy. The pound and euro edged higher on weakness in the greenback. Weak fundamentals weighed LME aluminium to the lowest since early August last year of US$1,950 per tonne yesterday. Open interests lost 2,083 lost to 675,000 lots. Shanghai Metals Market expects the contract to trade at US$1,940-1,990 per tonne today. As on November 6, Tuesday, LME aluminium cash (bid) price stood at US$ 1948 per tonne, LME official settlement price stands at US$ 1950 per tonne; 3-months bid price stands at US$ 1968 per tonne, 3-months offer price is US$ 1969 per tonne; Dec 19 bid price stands at US$ 2028 per tonne,...
The Managing Director of Hindalco Mr. Satish Pai reported to ET Now that the company delivered good aluminium results in the second quarter of this year despite the less than impressive aluminium prices and higher input costs. The company reportedly sold nearly 25,000 tonnes of more aluminium in Q2 than in Q1. According to Mr. Pai, this was possible because of the rupee depreciation in the first place, and good and efficient operations during the monsoon period. He particularly said, “Of course, our alumina prices are fully backward integrated and the higher alumina prices do not have a negative impact on Hindalco Aluminium. In a very tough monsoon quarter, our aluminium results were very good.” Utkal Alumina, a 100 per cent subsidiary of Hindalco Industries, is considered a game changer...
The US dollar lost ground against most of major currencies on Monday, as growing expectations of an orderly Brexit bolstered the pound, euro and global investor sentiment. The dollar closed at 96.32. This was ahead of the US midterm elections on November 6 that many analysts say will set the trend for the greenback, and all of the global currency market. LME base metals fell across the board while SHFE contracts closed mixed. LME aluminium slid 0.63%. LME aluminium closed Monday’s trading at US$ 1959 per tonne. It then rose to a high of US$1,991 per tonne overnight and lost upward momentum after that. The contract settled at US$1,974.5 per tonne with little upward room expected today. Trading range is likely at US$1,960-1,990 per tonne today. As on November 5, Monday, LME aluminium cash...
Representatives from three major aluminium associations in North America, from the U.S. Canada and Mexico have sent a joint letter to President Trump today calling for quota-free tariff exemptions on North American aluminium as part of the final U.S.-Mexico-Canada Agreement. They congratulated on reaching an initial agreement on the United States-Mexico-Canada Agreement (USMCA) and expressed their support towards a modernized, trilateral agreement that recognizes the importance of the integrated North American supply chain. They vowed on working together to resolve the national security concerns related to the Section 232 tariffs on aluminium products. But, urged the United States to reinstate the exemptions from the aluminium tariffs for Canada and Mexico. This, according to the industry...
Russian aluminium major Rusal has appointed a new chief executive on Monday after reporting a 42 per cent jump in third-quarter recurring net profit from second quarter with the postponement of U.S. sanctions till December. The U.S. Treasury Department in April put sanction on Russian billionaire Oleg Deripaska and eight companies in which he is a large shareholder, including aluminium producer Rusal, citing “malign activities". The sanctions have been postponed several times as the United States considers excluding Rusal from the U.S. blacklist if Deripaska disowns all his shares in the company. The deadline was last extended to December 12. Oleg Deripaska stepped down as a director of his aluminium firm Rusal in June 2018. He was then preparing for reducing his stake in En+, the group...
Rusal’s aluminium production for the nine months ended 30 September of 2018 totalled 2.8 million tonnes (+1.7% YoY), with Siberian smelters representing 94% of total aluminium output. Smelters utilization remained on average at 97%. Aluminium production in Q3 2018 stood at 940,000 tonnes while that in 2017 was at 931,000 tonnes. Production cost per tonne for nine-month 2018 rose 12% YoY to US$ 1658 per tonne as a result of significant increase in electricity, key raw materials prices and railway transportation tariffs. Rusal’s sales of primary aluminium and alloys for the nine months of 2018 decreased by 5.4% to 2.7 million tonnes, as compared to 2.9 million tonnes sold through nine months of 2017. Revenue from sales of primary aluminium and alloys increased by USD377 million, or by 6.2%,...
