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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Russian tycoon Oleg Deripaska has stepped down as director of Rusal to protect the interests of the company and its shareholders. The announcement came a day after the company said its chief executive and seven board members had resigned in an effort to seek relief from U.S. sanctions. "In furtherance of the efforts that have been made by the management of the Group to protect the interests of the Company and its shareholders since the OFAC Sanctions were imposed, Mr. Oleg Deripaska, non-executive director of the Company, has tendered his resignation as a director of the Company with effect from 25 May 2018”, the company’s statement said. The US Treasury last month said that it would consider lifting the sanctions if Rusal’s major shareholder Oleg Deripaska ceded control of the company....
According to the latest update by Shanghai Metal Market, the first stage of a hydropower project to produce and process aluminium in Zhaotong, in Yunnan province, is expected to start from June 1, 2018. A large number of aluminium companies are keen to tap Yunnan’s extensive hydropower capacity to replace their current coal-fired plants for securing power required during the electric-intensive smelting process. According to Jackie Wang, an aluminium analyst at consultants CRU in Beijing, this hydropower capacity, an alternative to coal-fired power generation will help smelters to produce green metal. While the first phase of the aluminium hydropower project is forecast to begin operations this June, the entire project is estimated to start in 2018, with an investment of 3.5 billion yuan....
As a development on the tariff issues between the US and India, both the countries will hold high-level bilateral talks between June 10 and 14. The talk is designed to elaborate on and find out a suitable solution for the steel and aluminium tariffs imposed by Trump administration. Commerce and Industry Minister Suresh Prabhu will meet US Trade Representative Robert Lighthizer in the US. New Delhi threatened to retaliate with counter duties of 5%-50% on 20 items imported from the US, including almonds and motor cycles. India said that the country will levy duties worth $165.56 million — equivalent to the effects on India’s trade due to the US before June 21 if the US goes ahead with the tariff duties on steel and aluminium. “India is hopeful that the matter would be settled between the...
Russian tycoon Oleg Deripaska has asked the Russian government to start buying aluminium produced by Rusal, said a government source on Thursday, who spoke on condition of anonymity, according to Reuters report. Russia's aluminum producer Rusal also announced that its chief executive and seven board members had resigned in an effort to seek relief from the sanctions. The company said the resignations were part of the efforts that had been made by the management of the Group to protect the interests of the company and its shareholders since the OFAC sanctions were imposed in April. On April 6, the United States announced sanctions on Deripaska and Rusal. Deripaska has also asked for state support for car maker GAZ, which has been affected by the sanctions, the source said. The US Treasury...
LME aluminium climbed up after three consecutive falls and closed higher at US$ 2270 per tonne on May 24 Thursday from US$ 2227 per tonne on previous closing. The contract climbed up further and touched a high of US$2,293.5 per tonne as most base metals gained last night. Shanghai Metals Market sees it facing pressure today at US$2,250-2,290 per tonne as Russian oligarch Oleg Deripaska resigned from its board. As on May 24, LME aluminium cash (bid) price stands at US$ 2270 per tonne, LME official settlement price stands at US$ 2271per tonne; 3-months bid price stands at US$ 2270 per tonne, 3-months offer price is US$ 2270per tonne; Dec 19 bid price stands at US$ 2253 per tonne, and Dec 19 offer price stands at US$ 2258 per tonne. Currently, 3 months LME aluminium and LME cash price settle...
Today, May 25, 2018, is the second day in a row that average A00 aluminium ingot price witnessed a surge from RMB 14570 per tonne, as on May 24, 2018, to RMB 14670 per tonne, according to Shanghai Metal Market. The prices are expected to range between RMB 14650 per tonne to RMB 14690 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne. Primary ingot prices registered a growth of RMB 10 to 100 per tonne across all domestic markets. While in the east, the ingot price soared from RMB 14610 per tonne, as on May 24, to RMB 14670 per tonne on May, 25; in South and North, the prices grew from RMB 14615 per tonne to RMB 14695 per tonne and from RMB 14595 per tonne to RMB 14660 per tonne respectively. The below table shows the aluminium ingot price movement in China...
The news UC Rusal resumed shipping aluminium to some consumers last week has taken the internet by storm. The Russian aluminium giant recommenced the shipment soon after the United States extended the sanctions deadline further from June 5 to October 23, 2018, for companies to wind down contracts with the Russian firm under US sanctions, sources said. The sanctions extension detailed in General Licence 14, issued late April, effectively meant that aluminium produced and sold by Rusal would be free from sanctions until October 23, so long as the deal to buy was signed before they were imposed. A metal industry source reported, “Aluminum is being shipped. Parties who have existing contracts are starting to take deliveries.” The existing deals include those such as Swiss-based mining giant...
LME aluminium continued downward trend and closed lower at US$ 2227 per tonne on May 23 Wednesday from US$ 2265.50 per tonne on previous closing. The contract fell below the 40-day moving average to a low of US$2,239 per tonne last night as the US dollar gained. It then rebounded above the five-day moving average and registered a high of US$2,277 per tonne. Its overall trading range has moved downwards this week. Shanghai Metals Market expects it to be trading at US$2,245-2,275 per tonne today. As on May 23, LME aluminium cash (bid) price stands at US$ 2226 per tonne, LME official settlement price stands at US$ 2227per tonne; 3-months bid price stands at US$ 2240 per tonne, 3-months offer price is US$ 2240.50 per tonne; Dec 19 bid price stands at US$ 2228 per tonne, and Dec 19 offer price...
The Chinese market has been reported witnessing a steady downstream consumption against fewer deliveries to warehouses over a period of time. As a consequence of which, primary aluminium inventory is incessantly recording a plunge, indicating a balance maintained between production, supply, and consumption in the market. According to Shanghai Metal Market on May 24, 2018, China’s inventory of primary aluminium, including SHFE warrants has seen a further dip to 2.08 million tonnes, 40000 tonnes lowered from 2.12 million tonnes on Monday, May 21, 2018, and 60,000 tonnes lowered from 2.14 million tonnes a week ago. The week-on-week decline is thus, slightly higher today than the decline of 58,000 tonnes last Thursday. The current inventory status in the major Chinese cities is as follows: On...
The mining conglomerate Vedanta Resources has reported rising cost pressures despite an increase in annual profits on the back of higher commodity prices. As announced on May 5, 2018, the company, controlled by Indian tycoon Anil Agarwal, witnessed a 21 per cent rise in consolidated profit-after-tax (PAT) at INR 13,692 crore in the financial year 2017 to 2018 ended on March 31, 2018, higher from INR 11,319 crore in FY2016-17. Earnings before interest, tax, depreciation, and amortisation rose 27 per cent to close at US$4.1 billion, while revenue jumped 3 per cent to US$15.4 billion in FY2017-18. Despite, the London-listed company has reportedly experienced higher costs pressures, particularly in aluminium business. In this respect, Kuldip Kaura, company’s acting chief executive said in a...
LME aluminium stood rangebound and closed lower at US$ 2265.50per tonne on May 22 Tuesday from US$ 2278.5 per tonne on previous closing. The US dollar index dipped from its five-month high to close at 93.59 last night after US-Sino trade tension eased down. Base metals saw mixed trading overnight. According to Shanghai Metals Market LME aluminium lost upward momentum and dipped to a low of US$2,256.5 per tonne overnight. As alumina prices continued to fall, LME aluminium is expected to weaken further and trade at US$2,245-2,280 per tonne today. As on May 22, LME aluminium cash (bid) price stands at US$ 2265 per tonne, LME official settlement price stands at US$ 2265.50 per tonne; 3-months bid price stands at US$ 2273 per tonne, 3-months offer price is US$ 2274 per tonne; Dec 19 bid price...
According to data updated by Shanghai Metal Market, spot aluminium discounts stood firm and thus, traders and downstream consumers in the spot aluminium market made stable procurements in east China on Tuesday, May 22, 2018. SHFE 1806 contract also traded weakly range-bound in the morning. Transactions in east China stood at RMB 14590 per tonne to RMB 14600 per tonne in Shanghai with discounts settled at RMB 80 to RMB 70 per tonne against the SHFE 1806 contract. In Wuxi and Hangzhou, transactions were mostly heard at RMB 14590 per tonne to RMB 14600 per tonne and RMB 14610 per tonne and RMB 14630 per tonne respectively. In Guangdong, on the other hand, transactions were mostly heard at RMB 14600 per tonne to RMB 14610 per tonne with Guangdong-Shanghai price spreads at RMB 10 per tonne....
Vimetco Group, which owns 84% stake in Alro, and controlled by Russian investor Vitaliy Machitski, is exploring strategic options for a potential decrease of its ownership stake in Romanian aluminium producer Alro Slatina. “The Company has been informed by its majority shareholder – Vimetco N.V., which currently holds 84.1898% of the Company's share capital (Vimetco) – that Vimetco is exploring strategic options for a potential decrease of its ownership stake in the Company and is reviewing any available options depending on market conditions, including a secondary public offering of shares on the Bucharest Stock Exchange,” Alro said. The review is ongoing and no decision has been yet made, according to the company. Further announcements will be made as and when a firm decision is made....
Australia's aluminium industry is a highly integrated sector of mining, refining, smelting and semi-fabrication centres. It has four major aluminium smelters- all operated by the biggest names in the global aluminium industry. Raw aluminium accounts for 19 per cent of the total exports of the country, according to 2016 data. Australia exports considerable amount of aluminium scrap to Japan. Japan alone imported 397711 tonnes of aluminium in 2017, according to recent statistics. Other major countries where Australia exports its aluminium include South Korea (183501 tonnes), Vietnam (163469 tonnes), Thailand (103440 tonnes), the USA (99268 tonnes) and Taiwan (87506 tonnes). As the data shows, in H2 2017, Australia exported 567848 tons of aluminium globally. The aluminium export delivered...
Base metals saw mixed trading on higher US dollar price, but LME aluminium went up slightly last week on the new of easing of sanction on Rusal. LME aluminium stood rangebound and closed lower at US$ 2278.5 per tonne on May 21 Monday from US$ 2297 per tonne on previous closing. According to Shanghai Metals Market, LME aluminium traded with momentum overnight and tested pressure at US$2,300 per tonne, as oil prices strengthened. The contract is likely to trade at US$2,360-2,300 per tonne today. As on May 21, LME aluminium cash (bid) price stands at US$ 2278 per tonne, LME official settlement price stands at US$ 2278.50 per tonne; 3-months bid price stands at US$ 2279.50 per tonne, 3-months offer price is US$ 2280 per tonne; Dec 19 bid price stands at US$ 2253 per tonne, and Dec 19 offer...
According to a provincial government notice, the China-based company Henan Shenhuo Coal and Power Co, which is primarily engaged in ferrous metal processing, the coal mining, and deep processing electrolytic aluminium, is about to transfer more than 450,000 tonnes per year of aluminium smelting capacity to the southwestern province of Yunnan. The company has completed all the required transfer formalities as well, said the Yunnan Industry and Information Technology Commission on Monday, May 21, 2018. This represents the first phase of a 900,000 tonnes per year two-phase integrated hydropower and aluminium smelting project that Shenhuo is building in Yunnan, it said. The construction work is expected to begin on July 18 and production to start in a year. This move by Henan Shenhuo is...
Emirates Global Aluminium (EGA) announced that it has surpassed the 30 million tonnes cast metal landmark. The cast metal is used in construction, the automotive industry, electronics and other vital everyday essentials. In 2017, EGA produced 2.6 million tonnes of cast metal making it the third largest producer of primary aluminium outside China. The company experienced a sustained increase in cast metal production from 135,000 tonnes per year when production began. EGA’s Managing Director and Chief Executive Officer Abdulla Kalban said: “EGA is one of the UAE’s most important industrial giants, and a world leader in the global aluminium sector. Reaching this figure confirms that fact and validates our commitment to innovation that has led to a sustained increase in cast metal...
As reported by Shanghai Metals Market, China's inventory of primary aluminium, including SHFE warrants, shrank to 2.12 million tonnes as of Monday May 21 due to stable downstream consumption. The inventory was down 20,000 tonnes from 2.14 million tonnes on Thursday May 17 and down 32,000 tonnes from 2.25 million tonnes a week ago. The week-on-week decline was slower from 58,000 tonnes last Thursday. The most awaited peak season for downstream consumption seems to have arrived in China. The current inventory status in the major Chinese cities is as follows: Average A00 Aluminum Ingot prices in China are showing restraint at RMB 14,650 per tonne today. The prices are expected to range within RMB 14,630 to RMB 14,670 per tonne and spot discounts are expected to settle at RMB 100 to 60 per...
