Canada and China have extended a bilateral trade arrangement that links Chinese market access for Canadian agricultural products with Canada's access for Chinese steel and aluminum. The decision provides greater certainty for exporters on both sides as Ottawa seeks to expand its trade relationships beyond the United States. The extension, announced on November 4, 2026, will keep the existing arrangement in place until the end of 2028. It comes amid renewed efforts by the two countries to strengthen economic ties and address outstanding trade issues. For the aluminum industry, the agreement offers a clearer timeline for market access, while its agricultural provisions provide Canadian producers with greater predictability in one of their key export markets. Canada-China trade agreement...
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...
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Aluminium Bahrain B.S.C. (Alba) has reported production and sales result for the second quarter of 2018. Alba closed the second quarter of 2018 with the best-ever production and aluminium sales volume. Quarterly aluminium production topped 252,081 tonnes, up by 23% Year-on-Year; while sales’ volume jumped by 19% YoY to reach 249,595 tonnes in comparison to 210,157 tonnes in Q2 2017. Value-Added Sales averaged 60% of total shipments in comparison to 61% in Q2 2017. Despite the market volatility and trade tensions, Alba continued to perform profitably with operation efficiency and a well-managed market. For the first half of 2018, total production reached 511,480 tonnes in comparison to 453,395 tonnes in H1 2017 (up by 13% YoY). With this production rate, the company is expected to cross an...
The US dollar index hit a three-week low to around 93.9 and closed at 94 last Friday night. This was 0.52% lower from a week ago, marking the biggest loss in four weeks. LME base metals felt downward pressure on escalated tension between China and the US. LME aluminium dipped slightly and closed at US$ 2098.50 per tonne on Friday July 6 from US$ 2127 per tonne on previous closing. It dipped further at a slower pace last Friday night as it rebounded from a low of US$2,071 per tonne on weakened US dollar. With pressure at the five-day moving average, it closed at US$2,086.5 per tonne after night trading and is expected to trade at a range of US$2,075-2,095 per tonne today. As on July 6, LME aluminium cash (bid) price stands at US$ 2098 per tonne, LME official settlement price stands at US$...
China’s inventory of primary aluminium across eight major markets continued to dip over the weekend. According to Shanghai Metals Markets, including SHFE warrants, the inventory dropped 6,000 tonnes to stand at 1.83 million tonnes, as of Monday, July 9, 2018. A slowdown in downstream consumption led the decline to be smaller from the drop recorded a week ago. The inventory in some of the Chinese cities like Wuxi and Jiangsu, Shanghai, Hangzhou and Zhejiang, and Tianjin registered a plunge, compared to July 5, 2018, while in Nanhai and Guangdong, Gongyi and Henan, and Linyi and Shandong, the inventory rose from the previous day. More details are given in the table below: The average A00 aluminium ingot price surged further from RMB 13910 per tonne to RMB 13990 per tonne. The average price...
Governor Greg Abbott urged President Donald Trump in a letter on July 28, to reconsider tariffs on imported aluminium and steel, arguing that the metals are vital to the growth of Texas’ industries. In the letter, Abbott mentioned Texas companies imported more than US$8.3 billion worth of aluminium and steel last year, largely for use by the oil and gas industry. Echoing earlier comments by industry groups opposed to the tariffs, Abbott said energy companies depend on specialty steel for which there is no manufacturer in the US. "Our country's steel and aluminium workers are a vital part of the national workforce, and creating jobs in that industry must be a top priority," said the letter. "But attempting to protect these jobs through the new tariffs could jeopardize the livelihoods of...
The US dollar dipped to a three-week low ahead of the tariffs on $34 billion of Chinese imports. Base metals mostly ceased their downward trend but remained weak. Benchmark aluminium price on London Metal Exchange increased to close at US$2127 per tonne on Thursday, July 5. After touching a high of US$2,112 per tonne during night trading, LME aluminium fell to a low of US$2,077.5 per tonne today morning with pressure from the five-day moving average. SMM expects the contract to trade at US$2,070-2,110 per tonne today. As on July 5, LME aluminium cash (bid) price stands at US$ 2126 per tonne, LME official settlement price stands at US$ 2127 per tonne; 3-months bid price stands at US$ 2100 per tonne, 3-months offer price is US$ 2101 per tonne; Dec 19 bid price stands at US$ 2138 per tonne,...
Figures of the Union commerce and industry ministry indicated that aluminium exports from the country increased by 36 per cent in 2017-18, aided by global demand, which outstripped supply. The declaration of US tariffs on aluminium and steel imports from most of the countries, a 21 per cent growth in aluminium prices on the London Metal Exchange (LME) to an average of $2,045 per tonne and over-supply to the domestic market helped exports to rise in the last financial year. The trend is expected to continue in 2018-19, because of the US sanctions on UC Rusal, one of the largest producers in April, which drove panic buying among aluminium buyers and lifted LME price and premiums to a height. This will also be driven by the trade tensions between the US and China. Aluminium prices were also...
Most LME and SHFE base metals dropped last night. LME aluminium wakened to a low of US$2,083 per tonne before rebounding to USS$2,103 per tonne. LME aluminium contract closed lower at US$ 2120.5 per tonne yesterday July 4 from US$ 2165 per tonne on July 3. Shanghai Metals Market expects the contract to trade at US$2,080-2,115 per tonne today. As on July 4, LME aluminium cash (bid) price stands at US$ 2120 per tonne, LME official settlement price stands at US$ 2120.50 per tonne; 3-months bid price stands at US$ 2098 per tonne, 3-months offer price is US$ 2100 per tonne; Dec 19 bid price stands at US$ 2133 per tonne, and Dec 19 offer price stands at US$ 2138 per tonne. The LME aluminium opening stock decreased to 1104600 tonnes. Live Warrants totalled at 905700 tonnes, and Cancelled...
The decline in China’s social inventory of primary aluminium continued to slow down over the week ended July 5, 2018, according to the data showed by Shanghai Metals Market. This could be attributed to the slowdown in consumption, resulting in suppressed purchasing interest among downstream consumers. As of Thursday, July 5, inventories of primary aluminium, including SHFE warrants, across eight major consumption areas shrank only 1,000 tonnes from Monday, July 2, to stand at 1.83 million tonnes. The figure fell 10,000 tonnes from last Thursday, June 28, compared to a drop of 40,000 in the week before. In some of the Chinese cities like Wuxi and Jiangsu, Gongyi and Henan, and Linyi and Shandong, the inventories witnessed a rise today, on July 5, in compare with Monday, July 2. While the...
On the expected three-fold growth in steel and aluminium consumption by 2030, Nalco CMD Tapan Kumar Chand declared that skilled manpower will get their due values. He said, “The pattern of employment is undergoing a drastic change. The skill sets need to be realigned to meet the demands of the industries and cutting edge technology will provide the competitive edge.” He also said, while stressing on the importance of generating employment, “As Aluminium sector is expected to grow substantially, NALCO is geared up for the next wave of expansion. Over 11,000 people will be recruited by NALCO in the near future and we will shortlist the candidates from UPSC screened list. We will not take written test for these candidates since they have already been screened by the UPSC.” “Out of Rs. 28,000...
The Reserve Bank of India has urged the Hyderabad High Court for seeking to permit The State Bank of India to go ahead with insolvency proceedings against Anrak Aluminium, an Indo-UAE joint venture. SBI legal counsel VK Sajith has confirmed the RBI’s petition but refused to comment on the matter terming it sub judice. The company had defaulted on INR ?3,242 crores of loans and US$96 million of external commercial borrowings to the SBI-led lender’s consortium. In March, the high court had stayed the proceedings before the National Company Law Tribunal (NCLT), after Anrak Aluminium approached the court saying that it had already entered into a one-time settlement with lenders. But the banking regulators challenged the case claiming that neither the company formulated any resolution plan...
Brazil, the world’s third-largest producer of bauxite and alumina will host 2018 ExpoAlumínio International Aluminum Exhibition on September 3 to 5 to present the full potential of sector companies and buyers in Brazil and in all of Latin America. The event will provide a platform for the innovations, experiences, and content directed at the entire aluminum production chain, from bauxite to recycling. More than 140 local and international names from the aluminum supply chain are expected, including the segments of machinery, equipment, accessories, raw materials, semi-manufactured goods, processed goods, recycling, general services, and consulting. Among the companies that have confirmed their presence are: Alcoa, CBA, Hydro, Novelis, Prolind, Tomra, Italy’s Europiante, and many others....
The US dollar inched down to close at 94.58 on a stronger Euro before the US Independence Day holiday. Despite that base metals went down on worries over global trade conflicts and weak Chinese manufacturing data released earlier this week. The LME aluminium contract closed slightly higher at US$ 2165 per tonne yesterday July 3 from US$ 2153 per tonne on July 2. However, the contract plummeted to a low of US$2,083 per tonne from a high of US$2,135 per tonne overnight. Shanghai Metals Market expects it to trade at US$2,077-2,117 per tonne today. As on July 3, LME aluminium cash (bid) price stands at US$ 2163 per tonne, LME official settlement price stands at US$ 2165 per tonne; 3-months bid price stands at US$ 2132 per tonne, 3-months offer price is US$ 2132 per tonne; Dec 19 bid price...
White House spokeswoman Sarah Sanders told a media briefing on Monday, July 2, that Canada’s measures to impose tariffs on imports of aluminium, steel and other products from US worth C$16.6 billion ($12.63 billion) in response to U.S. tariffs on Canadian aluminium and steel will not help Canada’s economy, Reuters reported. “Escalating tariffs against the United States does nothing to help Canada. It only hurts American workers,” Sarah Sanders said. “We’ve been very nice to Canada for many years, and they’ve taken advantage of that - particularly advantage of our farmers,” Sanders said. “The president is working to fix the broken system, and he’s going to continue pushing for that.” Canada’s retaliatory tariffs on US products went into effect on Sunday, July 1.The Government of Canada...
The Indo-Italian MetalHub , a one day event, which was designed to encourage cooperation between the Indian and Italian industrial metals districts, was held in Milan on July 2. This marked another step towards the cooperation between the technical excellence of Italy and the mineral richness of India. The initiative was dedicated to the industrial and mineral resources of India and with a special focus on the State of Odisha in Eastern India, where a large part of India’s mineral and metallurgical resources are concentrated. Odisha’s Industries Minister Ananta Das and his delegation met the top industrialists of Italy in Milan during the event. The delegation included industries secretary Sanjeev Chopra and chairman of the Odisha Industrial Development Corporation Sanjay Singh. Das also...
As per the data by Shanghai Metals Market, total costs for primary aluminium plunged to 3.6 per cent in June, compared to the month ago. Until the end of June, total costs for primary aluminium stood at RMB 13942 per tonne, with the average price hovered at RMB 14221 per tonne throughout the month. Both term and spot prices of primary aluminium lowered in June. Alumina costs and pre-baked anode costs for primary aluminium declined 8.1 per cent and 3.2 per cent respectively, compared to the previous month. Alumina price averaged at RMB 5505 per tonne. In the background of pre-baked anode price fall in June, Weiqiao Group lowered its purchasing prices for pre-baked anode by RMB 100 per tonne, marking a decline for seven months in a row, SMM learned. Oversupply in the market was also a...
The US dollar index rose above 95 with support from robust manufacturing data in the country. Base metals dipped across the board on strengthened US dollar and weaker Chinese manufacturing data. After trading higher for two days, the LME aluminium contract closed lower at US$ 2153 per tonne yesterday June 2 from US$ 2183 per tonne on June 29. Last night, LME aluminium tested support at the Bollinger lower bands and touched a low of US$2,098 per tonne near closing. Shanghai Metals Market expects the contract to trade at US$2,095-2,125 per tonne today. As on July 2, LME aluminium cash (bid) price stands at US$ 2152per tonne, LME official settlement price stands at US$ 2153 per tonne; 3-months bid price stands at US$ 2129 per tonne, 3-months offer price is US$ 2129.50 per tonne; Dec 19 bid...
Beginning on July 1, 2018, Canada imposed tariffs worth C$16.6 billion (US$12.6 billion) on imports of aluminium, steel and other products from the USA. The Government of Canada announced that the move was in response to the USA tariffs on Canadian steel and aluminium. “Canada has always been a safe, secure and reliable source of steel and aluminium for the U.S. market. The tariffs introduced by the United States on Canadian steel and aluminium are protectionist and illegal under WTO and NAFTA rules – the very rules that the United States helped to write, Foreign Minister Chrystia Freeland said. “It is with regret that we take these countermeasures, but the U.S. tariffs leave Canada no choice but to defend our industries, our workers and our communities, and we will remain firm in doing...
Hydro Energi AS and Tonstad Vindpark AS have signed a contract for the supply of power in the period from 2020 to 2045.The contract will contribute to supplying power to Norsk Hydro’s aluminium plants in Norway. Hydro Energi AS is a wholly-owned subsidiary of Norway’s aluminium company Norsk Hydro. Tonstad Vindpark AS is a planned onshore wind farm in Sirdal and Flekkefjord in southern Norway. “The contract spans for 25 years, for the period 2020 to 2045. Hydro Energi AS will purchase 100% of the actual output of the wind farm and will handle all balancing and nomination from the commissioning of the wind farm and for the duration of the power purchase contract,” according to Hydro press release. Tonstad Vindpark AS is owned by Engie, a French power utility company, and SUSI Partners, a...
