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 dollar rose against the safe-haven yen and Swiss Franc yesterday. The dollar index rallied some 0.15% and finished at 98.3. LME base metals closed mixed while SHFE metals ended mostly higher. LME aluminium fell 0.3%, and SHFE aluminium edged lower. LME traded lower yesterday with the contracts closing lower. Three-month LME aluminium fell 0.3% overnight and ended at US$1,778.5 per tonne, after it came off from a high of US$1,790.5 per tonne to a low of US$1,774.5 per tonne. Trading range today is seen at US$1,700-1,800 per tonne. As on August 21, Wednesday, LME aluminium cash (bid) price stood at US$ 1750.50 per tonne, LME official settlement price stands at US$ 1751per tonne; 3-months bid price stands at US$ 1780 per tonne, 3-months offer price is US$ 1781 per tonne; Dec 20 bid price...
According to a recent report, a 7 per cent growth in aluminium demand in India during April-June quarter of the financial year 2019-20 failed to boost production as consumption remained moderate in industries facing liquidity crunch. Sales of aluminium companies also fell by 10.8 per cent in that period as imports grabbed a bigger share of the consumption pie. “The share of imports to domestic aluminium consumption has risen to 60 per cent at the end of June. Overall imports witnessed spike of eight per cent while scrap imports rose eight per cent in the June quarter. The unabated rise in imports is worrisome for the primary aluminium producers,” said an industry source. In FY2019, aluminium imports had risen to 2.3 million tonnes, resulting in a forex outgo of $5.5 billion or 1 per cent...
Global primary aluminium production stood at 5.405 million tonnes in July, representing a drop of 1.28% from 5.475 million tonnes in July 2018, according to the latest data showed by the International Aluminium Institute (IAI). Primary aluminium production in the first seven months of 2019 stood at 37.073 million tonnes, almost flat from 37.235 million tonnes in the first seven months of 2018. In Asia ex-China, aluminium production 372,000 tonnes compared with 376,000 tonnes in July 2018. This records a decrease of 1.06% year-on-year. Aluminium production was up 3.33% month-on-month. Production in January-July totalled 2.565 million tonnes. In the Middle East, primary aluminium production came in at 477,000 tonnes in July 2019. Europe’s primary aluminium production totalled 641,000 tonnes...
Reuters reports that Xinfa Group, one of China’s top aluminium producers, has closed an aluminium production line after an explosion at a plant in the north-western region of Xinjiang. The blast took place at its electrical transformer on August 18. The news is confirmed by an unidentified company source. The accident has led to the shutdown of around 500,000 tonnes of annual smelting capacity at the plant at north of the Xinjiang capital of Urumqi. After the supply concerned created by the Typhoon, which affected a smelter of Hongqiao group in Shandong province, this capacity closure news has generated further tension in the market shooting SHFE aluminium price to an almost 10 months high on Tuesday, at RMB 14,455($2,046.58) per tonne. Though the contract consolidated, limited downside...
The US dollar fell with the drop in Treasury yields and the dollar index lost close to 0.2% and finished at 98.16. LME and SHFE base metals closed lower for the most part despite a weakened US dollar. LME aluminium fell 0.5% and SHFE aluminium dropped 0.4%. Three-month LME aluminium came off after climbed and ended 0.5% lower last night. The contract is expected to trade between US$1,700-1,800 per tonne today. As on August 20, Tuesday, LME aluminium cash (bid) price stood at US$ 1755.50 per tonne, LME official settlement price stands at US$ 1756.50 per tonne; 3-months bid price stands at US$ 1785 per tonne, 3-months offer price is US$ 1786 per tonne; Dec 20 bid price stands at US$ 1875 per tonne, and Dec 20 offer price stands at US$ 1880 per tonne. The LME aluminium opening stock dropped...
Press Metal Aluminium Holdings Bhd, the leading aluminium producer in South East Asia, has reported a drop of 36 per cent in net profit in the second quarter of the year ended on June 30. The profit came in at RM102.89 million, compared to RM160.6 million in the same period last year. With this, earnings per share in Q2 2019 came down to 2.56 sen from 4.15 sen year-on-year, while revenue dropped 12.5 per cent from RM2.44 billion in Q2 2018 to RM2.13 billion. The total net profit for the first half of the year (H1 2019) stood down as well at RM217.99 million from RM311.08 million in the same period last year. Revenue for the same period contracted from RM4.56 billion in H1 2018 to RM4.3 billion. Nevertheless, Press Metal's board of directors have approved a second interim single tier...
The 20th China (Guangzhou) International Metal &Metallurgy Exhibition organized by Guangzhou Julang Exhibition Design Co., LTD. successfully took place in Guangzhou Import and Export Pazhou Complex during June 13-15, 2019. This exhibition displayed new technology in the metal and metallurgical sector. The exhibition hosted more than 10000 professional visitors. About 520 companies from 28 countries and regions participated in the exhibition. The exhibition area covered nearly 30000 square meters of area, which displayed the latest international technology and trends in metal sector. The exhibition displayed products starting from raw materials to processing technology and equipment. Not only the exhibition was large in scale but it also boasted the presence of a complete industrial chain...
Two major aluminium producers of India, Hindalco and Vedanta have raised their ingot prices in the domestic market to match with the increase in international prices. The price of Hindalco’s P1020 EC Grade Ingot & Sow with 99.7% purity was raised to INR 14,4000 (US$2009) per tonne on August 17, 2019. The price of the same product stood at INR 14,2000 (US$1982) per tonne after the last hike on August 14. The price range is slightly lower than where it stood a month earlier. With this price hike, the rates of the company's products are nearly at the same level as that at the end of the last quarter. According to Balco’s price list, the price of P1020 EC grade ingot with purity above 99.7% was raised to INR 14,5000 (US$2023) per tonne on August 17, 2019. The price of the same product stood...
The US dollar rose to its highest level since August 1 and the dollar index gained close to 0.2% and finished at 98.38 yesterday. LME base metals fell for the most part while SHFE metals closed mostly higher during night trading. SHFE aluminium climbed 0.8% and LME aluminium fell 0.2%. Three-month LME aluminium retreated after a higher SHFE aluminium drove it to a high of US$1,807.5 per tonne. It returned back below US$1,800 per tonne and ended at US$1,792 per tonne on Monday night, down 0.2% on the day. Today, the contract is likely to trade between US$1,790-1,810 per tonne. As on August 19, Monday, LME aluminium cash (bid) price stood at US$ 1762 per tonne, LME official settlement price stands at US$ 1762.50per tonne; 3-months bid price stands at US$ 1794 per tonne, 3-months offer price...
The A00 aluminium ingot price has again recorded a sweeping growth of RMB 150 per tonne to stand at RMB 14,380 per tonne, as of August 20, according to Shanghai Metals Market. The average prices are expected to range between RMB 14,360 per tonne and RMB 14,400 per tonne, with spot contract to be traded at a discount and premium price of RMB 20 per tonne. This rise followed the drop of 2,000 tonnes in social inventories of primary aluminium and increase in spot alumina price by RMB 8 per tonne on Monday, August 19. The A00 aluminium ingot price is now standing the highest since the last three months when the price was at RMB 14,360 per tonne on May 16, 2019. Primary aluminium production cut at some of the Chinese smelters, resulting in daily and monthly output curb, could also be...
Iran's primary aluminium output stood at 83,207 tonnes during the first four months of the current Iranian year (March 21-July 22). The output dropped 32% in comparison with last year's corresponding period. This was reported by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). The output decline rate remains same from the first three months of the Iranian year. Aluminum production during the month to July 22 stood at 21,061 tonnes, off 31% YOY. Flagship producer Iran Aluminum Company (IRALCO) contributed 61,208 tonnes of the total production, registering an increase of 1% year-on-year. It was followed by Hormozal Aluminum Company with 10,632 tonnes, down 72% YOY; and Almahdi Aluminum Company with 9,800 tons, down 59% YOY. Iran has an estimated...
Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.05 million tonnes as of Monday August 19. Stocks declined 2,000 tonnes from 1.051million tonnes on August 15. Primary aluminium inventories declined over the weekend, as stocks in most areas posted declines, except for that in Guangdong. The chart below indicates the current status of primary aluminium inventories across all major China markets: Primary aluminium stocks in Wuxi, Jiangsu remained the same at 314,000 tonnes. Inventories in Shanghai and Gongyi, Henan declined 1,000 tonnes and 2,000 tonnes from August 15 to stand at 200,000 tonnes and 101,000 tonnes on Monday, 19 August 2019. Nanhai, Guangdong stocks increased from...
The US dollar lost gains from earlier trades and ended roughly flat on last Friday, after worries tied to trade tensions and a Federal Reserve rate cut weighed on consumer sentiment. LME base metals closed mixed while SHFE metals fell for the most part. LME aluminium gained 0.6% and SHFE aluminium slipped 0.2%. LME aluminium continued the gains on Friday night it recovered during day’s trading. Three-month LME aluminium gained 0.6% to finish at US$1,795.5 per tonne during Friday night. The contract is likely to trade at US$1,770-1,810 per tonne today. As on August 16, Friday, LME aluminium cash (bid) price stood at US$ 1755 per tonne, LME official settlement price stands at US$ 1755.50 per tonne; 3-months bid price stands at US$ 1783.50 per tonne, 3-months offer price is US$ 1784 per...
On Friday, August 16, Elysis reportedly marked the start of construction of its Research and Development Centre within Rio Tinto's Complexe Jonquière, the site of the Arvida smelter, Vaudreuil refinery, and Arvida Research and Development Centre. In this research and development centre, technical experts will carry on with the advancement of the breakthrough technology that eliminates all direct greenhouse gases (GHG) from the aluminium smelting process. The project, worth $50 million (CAD) is expected to be fully operational in the second half of 2020 with 25 technical experts. As per the report, Elysis will continue to work closely with the Rio Tinto technology design team in France and Alcoa’s Technical Centre (ATC) near Pittsburgh in the United States. The former creates...
The US dollar index edged down in the beginning of the week amid trade tensions between the US and China and concerns of slowing global economic growth. The dollar then started strengthening over the week and rose to 98.14. LME base metals traded mostly lower during the week. SHFE aluminium traded strong as the news of aluminium production in Shandong getting affected by typhoon rallied the most-liquid SHFE contract. LME aluminium traded lower within a close range. LME aluminium started the week with US$ 1743 per tonne and traded lower over the week. The contract jumped to a high of US$ 1755.5 per tonne on Friday. Three-month LME aluminium also followed the same downward trend starting the week higher at US$ US$1,770 per tonne on Monday and ending higher at US$ 1784 per tonne on Friday....
This week the A00 aluminium ingot price soared by RMB 300 per tonne to stand at RMB 14,250 per tonne, as of August 13, from RMB 13,950 per tonne on August 12, primarily attributed to limited cargo arrivals at inventories and brisk trading of primary aluminium. On August 12, the social inventories of primary aluminium shrank 6,000 tonnes across eight major consumption areas, including SHFE warrants, to stand at 1.035 million tonnes, as of August 12. The growth of RMB 300 per tonne in A00 aluminium ingot price on August 13 was the highest in the last eight months of the year. Followed the rise, the A00 aluminium ingot price declined by RMB 100 per tonne to RMB 14,150 per tonne, as of August 14, and then again rose by RMB 40 per tonne and RMB 50 per tonne on August 15 and August 16 to come...
En+ Group, a leading vertically integrated producer of aluminium and electricity, announced in its financial results that the revenue in the first half of the year decreased by 5.4 per cent to US$5.8 billion, compared to the same period last year. Adjusted EBITDA decreased by 30 per cent to US$1.2 billion year-on-year, while the net debt remained unchanged amounted to US$11.3 billion, as of June 30, 2019. En+ Group also revealed the results of the second quarter of 2019, where it said that revenue grew from US$2.8 billion in Q1 2019 to US$3 billion. The key factor for this quarterly growth in revenue was an increase in aluminium sales volume, according to the company. Energy segment showed good operating results and net growth profits in US dollars. Volumes of sales of the metallurgical...
Aluminum Extruders Council (AEC) in cooperation with the Aluminum Anodizers Council (AAC), the Aluminum Association (AA), and the Aluminum Recyclers Council (ARC) has organized a New Aluminum Safety Summit to provide information related to safety in the aluminium industry. The Aluminum Safety Summit will take place on Tuesday and Wednesday, October 15 and 16, 2019, at the Crowne Plaza Chicago O’Hare Hotel in Rosemont, Illinois. The event will cover issued related to aluminium extrusion, anodizing, recycling, casting and aluminium industry safety improvement. “There are many safety events presented throughout the manufacturing industry, but the Aluminum Safety Summit was designed to fill a need to address safety concerns specific to the aluminium manufacturing environment,” said AEC Safety...
