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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After showing a restraint yesterday, on June 21, at RMB 14120 per tonne, the average A00 aluminium ingot price saw a marginal growth today, June 22, to RMB 14130 per tonne, according to Shanghai Metals Market. The prices are expected to range between RMB 14110 per tonne and RMB 14150 per tonne, with spot discount to settle at RMB 50 per tonne to RMB 10 per tonne. However, not all major markets in China witnessed a rise in the A00 aluminium ingot price today. While in east and south, the prices plunged from RMB 14105 per tonne to RMB 14095 per tonne and from RMB 14235 per tonne to RMB 14230 per tonne respectively, in the north, the price registered a growth by RMB 10 per tonne to stand at RMB 14150 per tonne. The table below shows the movements of primary aluminium prices across the major...
India today, on June 21, 2018, notified that it would impose retaliatory tariffs against 30 US products from August 4, 2018. The products are worth of US$240 million to counter Trump administration’s move to unilaterally hike duties on Indian aluminium and steel exports. Although the Indian retaliatory tariffs could have come into effect immediately, the country seems to be given some more time to the US keeping in mind the upcoming negotiations for a trade package with the US. Assistant US trade representative (USTR) Mark Linscott is likely to visit India last week of this month to begin the negotiations. Last week on June 13, India had intimidated the World Trade Organisation (WTO) to impose duties on 30 US products , including motorcycles with engine capacity over 800cc (including...
China’s inventory of primary aluminium, including SHFE warrants, declined slower this week with a slight growth of warehouses supplies, according to Shanghai Metals Market. On Thursday, June 21, 2018, inventories of primary aluminium across eight major consumption areas in China shrank 40,000 tonnes to stand at 1.88 million tonnes, compared to a drop of 53,000 tonnes recorded on previous Thursday, June 14, to stand at 1.92 million tonnes. However, downstream aluminium trading decreased due to lower aluminium prices. In Wuxi and Jiangsu, the aluminium inventory hovered at 795,000 tonnes on 21 st of June, whereas on last Thursday, June 14, the inventory stood 801,000 tonnes. In Shanghai, the inventory rallied at 433, 000 tonnes, compared to 439,000 tonnes on last Thursday, Nanhai and...
LME aluminium tumbled to the weakest since April after data showed world primary aluminium production increased to 5.441 million tonnes in May. The metal failed to receive support at US$2,177 per tonne last night and touched a low of US$2,165 per tonne, Shanghai Metals Market reports. LME aluminium price remained unchanged at US$ 2179 per tonne on Wednesday, June 20. It is likely to trade at US$2,160-2,185 per tonne today. SMM expects it to face pressure from a potential trade conflict as the European Union plans to impose a 25% tariff on €2.8 billion worth of US products. As on June 20, LME aluminium cash (bid) price stands at US$ 2178 per tonne, LME official settlement price stands at US$ 2179 per tonne; 3-months bid price stands at US$ 2176 per tonne, 3-months offer price is US$...
Russia said on Tuesday it would impose import duties on U.S. road-building machinery, a measure likely to help Russian oligarch Oleg Deripaska, who was hit by U.S. sanctions and controls Russia’s biggest maker of road-building equipment. In the latest move in the war of sanctions between Russia and the United States, Russia plans to impose import tariffs on certain goods from the United States in response to duties imposed by Washington on steel and aluminum imports. The tariffs will target goods that have domestic equivalents in Russia, Economy Minister Maxim Oreshkin said. “There is road-building machinery and a number of other items that Russia imports,” Oreshkin said when asked to specify the list of goods that Moscow plans to levy tariffs on. The move follows a request from Russian...
LME aluminium fell further and closed at US$ 2179 per tonne yesterday from US$2220.50 per tonne on Monday. Then the contract broke the US$2,200 per tonne level overnight as the US dollar index registered a fresh high in 11 months. Without support from fundamentals and with the growth in the US dollar and trade tensions, Shanghai Metals Market sees further downward room for LME aluminium. It is likely to trade at US$2,160-2,195 per tonne today. As on June 19, LME aluminium cash (bid) price stands at US$ 2178.50 per tonne, LME official settlement price stands at US$ 2179 per tonne; 3-months bid price stands at US$ 2178 per tonne, 3-months offer price is US$ 2179 per tonne; Dec 19 bid price stands at US$ 2203 per tonne, and Dec 19 offer price stands at US$ 2208 per tonne. The LME aluminium...
According to Shanghai Metals Market, aluminium fluoride prices in China are likely to remain stable in the near term as a large number of producers would jointly support prices. On June 14, 2018, many major fluorochemical enterprises in Hengshan and Hunan province gathered and agreed to collaborate to support prices. On the face of oversupplied market and thin profit margins, producers mutually agreed to stop aluminium fluoride prices from breaking the RMB 9000 per tonne level. On Friday, June 15, the traded prices of aluminium fluoride declined as most of the transactions were done at RMB 8500 per tonne to RMB 9000 per tonne. A few transactions were even seen at RMB 8000 per tonne. In the longer term, the aluminium fluoride prices will likely continue to fall in the China market as major...
Alcoa, a global leader in bauxite, alumina and aluminum products, announced today that it will make a $62.4 million payment under an electricity supply agreement for its smelter in Wenatchee, Washington, and will permanently close one of four potlines at the fully curtailed facility. In connection with the planned payment on June 19, 2018, and the closure of the one potline, the Company will record an estimated charge of $73 million (pre- and after-tax), or $0.39 per share, in the second quarter of 2018. The payment to the Chelan Public Utility District (Chelan PUD) was triggered by a recent decision of Alcoa management to not restart the Wenatchee smelter within the term provided in the amended electricity supply agreement. Under the agreement, which expires on October 31, 2028, Alcoa...
As the US dollar came off from highs, LME aluminium rebounded to a high of US$2,228.5 per tonne on Monday after it fell to a low of US$2,193.5 per tonne. Finally the contract closed the day at US$2220.50 per tonne. Shanghai Metals Market expects LME aluminium to trade range bound at lows today with a trading range of US$2,200-2,240 per tonne. As on June 18, LME aluminium cash (bid) price stands at US$ 2220per tonne, LME official settlement price stands at US$ 2220.50per tonne; 3-months bid price stands at US$ 2215 per tonne, 3-months offer price is US$ 2215.50 per tonne; Dec 19 bid price stands at US$ 2238 per tonne, and Dec 19 offer price stands at US$ 2243 per tonne. The LME aluminium opening stock slightly dropped to 1139575 tonnes. Live Warrants totalled at 907750 tonnes, and...
Vimetco and Conef, which owns Romanian aluminium producer Alro, plan to proceed with the public offering of shares in the company. Vimetco and Conef are controlled by Russian investor Vitaliy Machitski. The company together with its subsidiaries consists of upstream and downstream divisions, from the mining and refining of raw materials to the production and sale of primary and processed aluminium products. Alro’s sales and EBITDA stood at RON 2.7 billion (approximately US$ 679 million) and RON 566 million (approximately US$ 140 million) respectively in 2017. Marian Nastase, Chairman of Alro, commented: "This is exciting news for Alro. Alro has become a key player in the global aluminium market, with strong heritage, scale and international presence. We have a strong management team, that...
LME aluminium, which hit its weakest in seven weeks at $2,200.50 a tonne on Friday, recaptured the 100-day moving average as it traded at US$2215. The contract closed at US$2239.50 per tonne on Friday. Pressure from a stronger dollar pushed the contract down and a holiday in China drained buying interest from the market. As on June 15, LME aluminium cash (bid) price stands at US$ 2238.50per tonne, LME official settlement price stands at US$ 2239.50per tonne; 3-months bid price stands at US$ 2231 per tonne, 3-months offer price is US$ 2233 per tonne; Dec 19 bid price stands at US$ 2245 per tonne, and Dec 19 offer price stands at US$ 2250 per tonne. The LME aluminium opening stock slightly dropped to 1142600 tonnes. Live Warrants totalled at 920850 tonnes, and Cancelled Warrants were 221750...
According to an official, India will raise duties on 30 US products, including motorcycles with engine capacity over 800cc, fresh apples and almonds, in retaliation against Washington’s move to impose higher duties on Indian aluminium and steel exports. “This is the first time that India has levied retaliatory tariffs on any country,” said the official aware of the details. According to India’s decision regarding the tariffs, motorcycles with engine capacity over 800cc is going to attract 50 per cent of duty, almonds 20 per cent, walnut 20 per cent, and apples 25 per cent. These duties are expected to collect around US$238.09 million, once come into force on June 21, 2018. On Wednesday, June 13, India intimidated the World Trade Organisation (WTO) of its decision. “This notification is...
Aluminium prices advanced by 0.19 per cent to INR 154.30 per kg in futures trading today as speculators engaged in building up positions, tracking a firm trend at spot market on soaring demand. At the Multi Commodity Exchange, aluminium for delivery in June edged up by 30 paise, or 0.19 per cent to INR 154.30 per kg in business turnover of 177 lots. Likewise, the metal for delivery in July was trading higher by 15 paise, or 0.10 per cent to INR 154.20 per kg in 27 lots. Analysts said widening of positions by participants on the back of rising demand from consuming industries in the physical market mainly kept aluminium prices higher at futures trade.
Base metals fell with the rising US dollar and LME aluminium closed slightly lower at US$ 2277.50 per tonne on Thursday 14 June from US$ 2278 per tonne on Wednesday June 13. Over the night trading, LME aluminium rebounded back to around the 20-day moving average after being dragged down by its SHFE counterpart to a low of US$2,252 per tonne. Shanghai Metals Market sees it trading at US$2,240-2,270 per tonne with limited upward room given a stronger US dollar. As on June 14, LME aluminium cash (bid) price stands at US$ 2277per tonne, LME official settlement price stands at US$ 2277.50 per tonne; 3-months bid price stands at US$ 2266 per tonne, 3-months offer price is US$ 2266.50 per tonne; Dec 19 bid price stands at US$ 2275 per tonne, and Dec 19 offer price stands at US$ 2280 per tonne....
After a rise in A00 aluminium ingot price from RMB 14540 per tonne to RMB 14560 per tonne on June 14 on the face of primary aluminium inventory dip, it dwindled drastically on June 15, to RMB 14340 per tonne, Shanghai Metals Market believed. The prices are expected to range between RMB 14320 per tonne and RMB 14360 per tonne, with spot discounts still settled at RMB 20 per tonne. Since the beginning of the week, the aluminium ingot price has been incessantly witnessing ups and downs, as on June 11, the price plunged from RMB 14740 per tonne to RMB 14720 per tonne, followed by a growth to RMB 14750 per tonne on June 12. The next day on June 13, the price fell straight to RMB 14540 per tonne; while on June 14, it rose to RMB 14560 per tonne. All the major Chinese markets also saw a plunge...
The Canadian province of Quebec will offer C$100 million ($77.1 million) in loans and guarantees on loans to steel and aluminum companies hit by recent U.S. tariffs, the province’s economy minister said on Monday. Companies that transform the metals will benefit from the program after the United States recently slapped a 25 percent tariff on steel and a 10 percent tariff on aluminum imports. Economy Minister Dominique Anglade told reporters in Montreal that the program came after aluminum and steel companies received feedback from clients who are not willing to pay the tariffs. “What they’re telling us is some of their contracts were canceled,” she said, adding some had already slowed down production. Anglade said the impact of the tariffs on metals had been felt quicker than when the...
On recommencing potline four on the face of improved metal prices, Tiwai aluminium smelter, owned by Rio Tinto and the Sumitomo Group via a joint venture called New Zealand Aluminium Smelters Limited, is seeking to recruit 90 new staff. The company reports that it needs to fill 90 roles, as its production is likely to increase with the restart of potline four and the growing demand for aluminium block products. On the other hand, older employees are retiring and increasingly creating room for recruitments. Outgoing chief executive and general manager Gretta Stephens said, “While it was unusual to be recruiting for so many roles, most of the new jobs related to the restart of line four and the subsequent increased metal production in the casthouse.” Stephens also said, “The smelter has...
China’s aluminium production grew 1.5% year-on-year to 2.79 million tonnes in May, according to data released by China’s National Bureau of Statistics (NBS) on Thursday June 14. On a daily basis, China produced 90,000 tonnes of aluminium last month, from 92,300 tonnes in April, according to Reuters calculations based on the data. The world’s biggest aluminium producer churned out 13.6 million tonnes of aluminium in the first five months of 2018, up 1.4 per cent from the same period last year, the data showed. Production of 10 nonferrous metals- including copper, aluminium, lead, zinc and nickel registered 4.3 per cent growth in May, 2018. The total production stood at 4.55 million tonnes. During January- May, production of nonferrous metals came in at 22.2 million tonnes, an increase of...
