Mexico-US trade talks, including discussions on aluminum tariffs , have been delayed, with the fourth round of negotiations now expected to take place in October. The delay comes as both countries manage busy diplomatic schedules. Luis Rosendo Gutierrez, Mexico’s deputy economy minister for foreign trade, said the delay stemmed from scheduling conflicts, including Chinese President Xi Jinping’s planned visit to the United States and the upcoming G20 summit. Although the formal talks have been postponed, technical discussions between Mexico and the US Trade Representative’s Office (USTR) are continuing on a “daily” basis, Gutierrez said. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036:...
SHFE aluminium closed at RMB 24,230 per tonne, edging up 0.02 per cent. The price was capped by MA5 (24,259) but remained above MA10 (24,207) and MA30 (24,088), with the mid-term bullish structure intact. On the MACD indicator, DIF stood at 92.18 and DEA at 118.60, forming a death cross above the zero axis, with the green bars expanding to -52.85, indicating strengthening bearish momentum. Trading volume expanded to 76,000 lots, reflecting widening bull-bear divergence. The core trading range for SHFE aluminium is suggested at 24,000-24,600. LME aluminium closed at USD 3,248.5 per tonne, edging down 0.05 per cent. The price broke below MA5 (3,264.1), MA10 (3,261.37), and MA30 (3,262.88), with short-term moving averages exerting pressure, though MA60 (3,227) still provided support. On the...
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The US dollar rebounded against a basket of currencies on the first day of the week and then fell on Tuesday ahead of an expected US interest rate cut from the Federal Reserve. Though it registered a gain mid-week, the greenback ended the week lower. LME base metals started the week slightly higher but dropped on Tuesday, on growing concerns about demand in China after the release of bleak economic data and strong dollar. The prices did not see any drastic movement rest of the week and continued on a steady upward curve. LME aluminium started the week with US$ 1770.5 per tonne and after a drop to USD1746.5 per tonne it continued higher and closed the week at US$ 1766 per tonne on Friday September 20. Three-month LME aluminium also rebounded to a three-day high and ended the week at US$...
The price of A00 aluminium ingot in China witnessed fluctuations over the week. The week started with a decline of RMB 150 per tonne from Friday, September 12. The price continued lower at RMB 14400 per tonne and RMB 14330 per tonne on Monday, September 16 and Tuesday, September 17. But the week ended higher at RMB14280 per tonne on Friday, September 20, up RMB 10 per tonne from Thursday, September 19. As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased over the weekend to 978,000 tonnes as of Monday September 16, up by 6,000 tonnes from Thursday September 12. But primary aluminium inventories fell this week for a fourth straight week, as some regions saw more outflows. Inventories...
Digitalization and automation are not new to any industry. It started with the adoption and proliferation of digital computers and digital record keeping in the 70s and became prevalent in late 1990s and 2000s. This led to computerization of all processes and implementation of digital activities in various organizations and industries, which is called the Third Industrial Revolution. Now the world is moving towards Industry 4.0 or the Fourth Industrial Revolution. The term "industry 4.0" or the "fourth industrial revolution is coined to describe the increasing digitalization in an industrial environment. It covers current systems and technologies for automation, artificial intelligence and data exchange. It loosely refers to the concept of factories in which machines are augmented with...
Alcoa Corporation, an integrated bauxite, alumina and aluminium producer, has announced today that members of the United Steelworkers (USW) have finally ratified a new labour agreement bringing an amicable end to the long term negotiation. The new contract will cover about 1,700 active employees at five U.S. locations. The Company and the United Steelworkers came to a tentative agreement in August as the union members decided to vote on the proposed four-year contract. United Steelworkers District 7 Director and the chief negotiator from United Steelworkers Michael Millsap announced in the first week of September that the employees would soon ratify the contract. The USW announced the outcome of that vote on Thursday, Sept. 19. “We appreciate the contributions from our union employees at...
Falling global prices of alumina and primary aluminium are likely to put pressure on Indian primary aluminium producers, in terms of profits, warned Tapan Kumar Chand, Nalco’s chairman & MD at the company’s 38th annual general meeting on September 18, 2019. At present, the LME’s average price of aluminium is at $1,762 per tonne, down by about 14 per cent from $2,054 per tonne in the same period last year. The expected range in the entire financial year is likely to come in at $1,750 per tonne to $1,800 per tonne, said Chand at the meeting. Besides, he also pointed out that the threat of increasing aluminium import into India persists, while reminding that in FY2019 India’s aluminium import had accounted for 58.9 per cent of the total consumption. Support from the government in countering...
The US dollar dipped against a basket of currencies on Thursday after the US Federal Reserve Wednesday cut interest rates by 25 basis points. LME base metals closed mixed on Thursday. LME aluminium gained 0.2%, while aluminium inched up 0.2%. LME continued its upward momentum yesterday. Three-month LME aluminium rebounded to a three-day high of US$1,803 per tonne on Thursday, before it eased to close 0.17% higher at US$1,795 per tonne. It is expected to hover between US$1,780-1,830 per tonne today. As on September 19, Thursday, LME aluminium cash (bid) price stood at US$ 1762 per tonne, LME official settlement price stands at US$ 1762.50 per tonne; 3-months bid price stands at US$ 1790 per tonne, 3-months offer price is US$ 1792 per tonne; Dec 20 bid price stands at US$ 1855 per tonne,...
Alcoa Corporation, a leader in bauxite, alumina, and aluminium products, is recognised by the Dow Jones Sustainability Indices (DJSI) as industry leader for aluminium in 2019. The company is included in the DJSI North America Index, which includes the top 20 percent of the largest 600 North American companies in the S&P Global Broad Market Index. Michelle O’Neill, Senior Vice President for Global Government Affairs and Sustainability said: “This listing recognizes Alcoa’s continued leadership in sustainable operations across the aluminium value chain. Our Alcoa values to Act with Integrity, Operate with Excellence and Care for People are the foundation upon which our sustainability journey is built, guiding us as we advance our economic, environmental and social performance.” The Dow...
National Aluminium Company Limited (NALCO) announced higher ever dividend on the occasion of its 38th Annual General Meeting (AGM). The company declared a record dividend payout of INR 1072.73 crore for the financial year 2018-19. The dividend was an increase from 114% in 2017-18 to 115 % in 2018-19, which works out to INR5.75 per equity share of INR5 each. Dividend including the applicable dividend distribution tax works out to a payout of 74.65% of the PAT against 98.81% of the previous financial year. Till FY 2018-19, INR 32,886 crore paid towards taxes, duties, royalties, dividend, etc. Out of the total amount, INR 25,917 crore paid to Central Govt. and INR 6,969 crore paid to State Govt, NALCO said. Dr. Tapan Kumar Chand, CMD at NALCO, attributed the success to team work, strong cost...
Iran's total production of aluminium stood at 103,593 tonnes during the first five months of the current Iranian year (March 21-August 22). That was down 32 per cent compared with the same period last year, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Iran’s flagship aluminium producer Iran Aluminum Company (IRALCO) contributed 75,763 tonnes of the total figure. That was up 1 per cent from last year's corresponding period. Hormozal Aluminum Company produced 13,600 tonnes, which was a 71 per cent drop on the year. Almahdi Aluminum Company’s production registered 12,018 tonnes, a decrease of 59 per cent year-on-year. Iran Alumina Company produced 2,212 tonnes. Aluminium production from the three smelters came in at 20,000 tonnes in...
The US dollar strengthened on Wednesday after the Federal Reserve cut interest rates as expected, but failed to signal more easing in 2019. LME base metals closed mixed on Wednesday with aluminium dipping 0.06%. SHFE base metals performed similarly overnight and aluminium lost 0.5%. Three-month LME aluminium rallied to an intraday high of US$1,780.5 per tonne, before it eased to finish the trading day a tad lower at US$1,792 per tonne. LME aluminium is expected to hover between US$1,770-1,800 per tonne today, with upside potential hampered by a firm US dollar. As on September 18, Wednesday, LME aluminium cash (bid) price stood at US$ 1750.50 per tonne, LME official settlement price stands at US$ 1751 per tonne; 3-months bid price stands at US$ 1781 per tonne, 3-months offer price is US$...
Shanghai Metals Market found social inventories of primary aluminium in China fell over the week ended on September 19, as some regions saw more outflows. SMM data shows the stocks across eight major consumption areas in China, including SHFE warrants, decreased by 6,000 tonnes from 972,000 tonnes on September 12 to come in at 966,000 tonnes. From Monday, September 16, when the inventories were at 978,000 tonnes, the stocks today declined by 12,000 tonnes. The chart below shows the current status of primary aluminium inventories in more details: As the above chart shows, the inventories in Nanhai, Guangdong; Hangzhou, Zhejiang; Shanghai; and Tianjin, have dropped by 8,000 tonnes, 1,000 tonnes, 4,000 tonnes, and 2,000 tonnes to stand at 267,000 tonnes, 50,000 tonnes, 186,000 tonnes, and...
According to a Reuters report, China’s Henan Shenhuo Group has postponed commissioning of its new aluminium smelter in Yunnan province as the construction could not be completed due to poor weather. The 6.75 billion yuan ($952 million) project in Wenshan prefecture included an integrated hydropower and aluminium project with an annual smelting capacity of 900,000 tonnes. One of the biggest upcoming projects in China, it was supposed to be complete in two phases and come online this month. Shenhuo decided to move production from an industrial heartland like Henan to more remote areas such as Yunnan in Southwest China in order to utilize clean hydropower to generate electricity for its energy-intensive smelting process. “By the end of this year, all three stages of the first phase will be...
The Aluminum Association, in cooperation with the Aluminium Association of Canada, reported primary aluminium production in North America (U.S. and Canada) was at an annual rate of 3,949,088 tonnes during August 2019, declining -0.3% from the July 2019 rate of 3,959,885 tonnes. The production rate in both the U.S. and Canada fell slightly month-on-month. Compared to a year ago, the North American annual rate was 6.2 per cent above the August 2018 rate of 3,820,267 tonnes. Actual North American production in August 2019 stood at 335,402 tonnes. For the first eight months of 2019, production stood at 2,658,437 tonnes. {newsStudioGallery} The U.S. produced 94,106 tonnes of primary aluminium in August 2019, up 24% from August 2018 volume of 75,780 tonnes, which is a significant increase for...
The US dollar fell on Tuesday ahead of an expected US interest rate cut from the Federal Reserve. LME base metals, except for aluminium, closed lower on Tuesday. SHFE aluminium rose 0.2%. After a weeklong upward movement, LME has started its downturn to a level below early September. Three-month LME aluminium slid to a six-day low of US$1,778 per tonne on Tuesday, before it rebounded to finish the trading day 0.31% higher at US$1,793 per tonne overnight. LME aluminium is expected to trade rangebound between US$1,770-1,820 per tonne today, with strong resistance from the 40- and 60-day moving averages. As on September 17, Tuesday, LME aluminium cash (bid) price stood at US$ 1746 per tonne, LME official settlement price stands at US$ 1746.50per tonne; 3-months bid price stands at US$ 1778...
Hindalco Industries Limited announced that the company was added to the S&P Dow Jones Sustainability Indices (DJSI) for the first time. Hindalco was one of 12 Indian companies to be included in the Dow Jones Emerging Markets Sustainability Index. Hindalco became the only aluminium manufacturer from India to be included in the list this year. Its DJSI score places Hindalco among the world’s top three aluminium companies. The company was recognised for its success in governance, social and environmental initiatives. Satish Pai, MD at Hindalco said: “I am proud that Hindalco has successfully met the stringent criteria of DJSI. This achievement demonstrates how well sustainability has become entrenched in Hindalco. The 3 key pillars of our performance have been Resilience in a low LME...
After the two significant declines by RMB 150 per tonne and RMB 70 per tonne on September 16 and September 17, the A00 aluminium ingot price has recorded a slight rise today, on September 18, by RMB 10 per tonne to stand at RMB 14,340 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 14,320 per tonne and RMB 14,360 per tonne, with spot contract to be traded at a discount price of RMB 10-50 per tonne. In Foshan and Tianjin, the A00 aluminium ingot price has registered the highest rise of RMB 30 per tonne to hover at RMB 14,380 per tonne and RMB 14,350 per tonne, followed by Chongqing and Gongyi where the ingot price has increased by RMB 20 per tonne and RMB 15 per tonne to RMB 14,370 per tonne and RMB 14,225 per tonne. In other cities like Linyi,...
The US dollar rebounded against a basket of currencies on Monday. LME base metals dropped on Monday, on growing concerns about demand in China after the release of bleak economic data. LME aluminium fell 1.4% and SHFE aluminium declined 0.6%. The SHFE /LME cash aluminum ratio registered at 8.13, while the SHFE/LME 3M aluminum ratio was at 7.92. LME cash aluminum was at contango of $31.5/mt against LME 3M aluminum. LME aluminium started the week higher on Monday. However, with dollar’s rebound on Monday night, three-month LME aluminium came off from earlier highs to end at US$1,787.5 per tonne in a week. It lost 1.41% on the day, and the buildup of short positions mainly accounted for the decline. LME aluminium is expected to trade between US$1,780-1,830 per tonne today, with support...
A00 aluminium ingot price has extended its decline to RMB 14330 per tonne on Tuesday, 17 September 2019, from its previous price of RMB 14400 per tonne on September 16. This indicates a drop of RMB 70 per tonne or 0.49 per cent. The price is expected to range at RMB 14310-14350 per tonne. Spot aluminium price is likely to be traded at a premium of RMB 20-60 per tonne. Foshan has seen the highest drop in aluminium ingot price today. The price in Foshan stands at RMB 14350 per tonne, down by RMB 90 per tonne from its previous price. The average price is likely to range at RMB 14330-14370 per tonne. In Wuxi and Hangzhou, aluminium ingot price has declined by RMB 70 per tonne and by RMB 65 per tonne to stand at RMB 14330 per tonne and RMB 14345 per tonne. Their average prices are expected to...
