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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According to a source, both Glencore and UC Rusal have urged the London Metal Exchange to temporarily lift its suspension on Rusal’s aluminium, followed by an extension of the sanctions deadline on Russian aluminium companies. The US Treasury Department had extended the sanctions deadline on Rusal until October 23, 2018, and said it would even consider lifting the sanctions if Rusal’s major shareholder Oleg Deripaska ceded control of the company. The extension was issued late April and effectively meant that aluminium produced and sold by Rusal until October 23, 2018, was free of US sanctions, so long as the deal to buy was signed before they were imposed on April 6. Same is the case with Swiss-based mining giant Glencore which has a seven-year deal to buy aluminium from Rusal between...
Aluminium Bahrain B.S.C. (Alba), soon to-be the world’s largest single-site aluminium smelter, held its first Stakeholder Exhibitions Meeting (SEM) for its Line 6 Expansion Project today, 13 May 2018 at the Awal Ballroom, Gulf Hotel, Bahrain. In line with the requirements of the Performance Standards of the International Finance Corporation (IFC), a World Bank affiliated lending organisation, the SEM was held to give all stakeholders an update on the Line 6 Expansion Project as well as a summary of the Environment and Social Impact Assessment (ESIA) for this Project. Representatives of the Government and Ministries of Bahrain, Non-Government Organisations (NGOs) and Civil Society Organisations were the key invitees for the SEM. Alba’s Executive Management Team led by its Chief Executive...
According to a Shanghai Metal Market report, an incessant growth in aluminium shipments and a constant rise in consumption in some of the major Chinese markets like Wuxi and Foshan drove a further downfall in primary aluminium inventory on May 14, 2018, to close at 2.15 million tonnes, as against 2.196 million tonnes on Thursday, May 10, 2018. This indicates that the inventory was down 42,000 tonnes from Thursday, May 10, 2018, and 56,000 tonnes from 2.21 tonnes on Monday, May 7, 2018. Some of the major Chinese cities also witnessed a plunge in inventory, such as in Shanghai, the inventory fell to 452,000 tonnes; in Nanhai, Foshan, and Guangdong, it dipped to 377,000 tonnes and in Gongyi and Henan, it sank to 198,000 tonnes. More details are as follows: The average A00 aluminium ingot...
LME aluminium touched a low of US$2,263.5 per tonne at one point during the European trading session last Friday. Benchmark aluminium price on London Metal Exchange fell to close at US$ 2273.50 per tonne on Friday, May 11 from US$2327 per tonne on Thursday May 10. SMM expects LME aluminium to trade at US$2,260-2,300 per tonne today. As on May 11, LME aluminium cash (bid) price stands at US$ 2272.50 per tonne, LME official settlement price stands at US$ 2273.50 per tonne; 3-months bid price stands at US$2274 per tonne, 3-months offer price is US$ 2275 per tonne; Dec 19 bid price stands at US$2218 per tonne, and Dec 19 offer price stands at US$ 2223 per tonne. The LME aluminium opening stock stood at 1264250 tonnes. Live Warrants totalled at 860700 tonnes, and Cancelled Warrants were 403550...
Emirates Global Aluminium’s (EGA) stock market listing is likely to slip to 2019 because of turmoil in global aluminum markets after the United States imposed sanctions on Russian aluminum group Rusal, three sources familiar with the deal said. “The IPO (initial public offering) is delayed to 2019 due to market conditions,” one of the sources said. EGA, which produces 2.6 million tonnes of cast metal a year and is the third-largest producer of primary aluminum outside China, announced plans to float last year. But aluminum prices have been volatile since Washington, in response to what it called “malign activities” by Russia, imposed sanctions on Rusal and shareholder Oleg Deripaska. Benchmark prices on the London Metal Exchange CMAL3 surged to their highest in seven years. They dropped...
Leading global aluminium producer UC RUSAL announced results for the three months ended 31 March 2018. The company’s recurring net profit increased 22.4% to $531 million in Q1 2018, from $434 in the same period last year. Revenue in the first quarter of 2018 was $2,744 million as compared to $2,297 million for the same period of 2017 following the growth in the LME aluminium prices. Adjusted EBITDA rose 20.4% to $572 million as compared to $475 million for the same period of the prior year. Revenue from sales of primary aluminium and alloys stood at $2,245 million in the first quarter of 2018, as compared to $1,920 million in the first quarter of 2017, primarily due to 19.3% increase in the weighted-average realized aluminium price per tonne. Revenue from sales of alumina increased 25.4%...
According to an SMM report, overall trading across spot aluminium markets in east and south China turned active on Thursday May 10 as downstream consumers stepped up procurement and boosted purchasing. The SHFE 1805 contract rose to a high of RMB 14,545 per tonne from a low of RMB 14,500 tonne in the morning. SHFE 1807 contract is expected to trade within a range at RMB 14,600-14,770 per tonne. Spot prices are seen at a discount of RMB 20 per tonne to a premium of RMB 20 per tonne. China has registered a rise in prices of A00 aluminium ingot prices today. Primary aluminium ingot price also increased across all individual markets. Average A00 Aluminum Ingot prices increased from RMB 14520 per tonne yesterday to stand at RMB 14,590 per tonne today on May 11. The prices are expected to range...
LME aluminium surged high during yesterday’s trading and closed at US$2,327 on Thursday May 10, from US$2295 per tonne on Wednesday May 9. With a surge in positions, LME aluminium fluctuated significantly and closed at a low level overnight. As shorts are in a more advantageous position than longs, Shanghai Metals Market analysis expects LME aluminium to test support of US$2,300 per tonne at the 20-day moving average today with a trading range at US$2,300-2,340 per tonne. As on May 10, LME aluminium cash (bid) price stands at US$ 2325 per tonne, LME official settlement price stands at US$ 2327 per tonne; 3-months bid price stands at US$2324.50 per tonne, 3-months offer price is US$ 2325.50 per tonne; Dec 19 bid price stands at US$ 2213 per tonne, and Dec 19 offer price stands at US$ 2218...
Alcoa Corporation and Rio Tinto, supported by technology giant Apple, will develop and commercialise a new aluminium smelting process that eliminates all direct greenhouse gas emissions from the traditional smelting process. Alcoa and Rio Tinto are forming Elysis, Montreal-based joint venture company, to further develop the new process with a technology package planned for sale beginning in 2024. Alcoa and Rio Tinto will invest $55 million (CAD) cash over the next three years and contribute specific intellectual property and patents. Rio Tinto chief executive J-S Jacques said: “This is a revolutionary smelting process that can deliver a significant reduction in carbon emissions. It builds on the key role aluminium has to play in driving human progress, by making products infinitely...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, is progressing at full speed with the construction of its landmark Line 6 Expansion Project [Line 6 Smelter and Power Expansion Project], according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The statement was made at the second quarterly meeting for this year, held on Wednesday, 9 May 2018 at Alba. Adding further, Shaikh Daij stated:“We are very pleased with the overall progress of Line 6 Expansion Project; to date, Line 6 Smelter exceeded 54% while Power Station 5 advanced 59% and Power Distribution System 87%. With the construction brimming on site in 2018, we remain committed to deliver the Project in a timely and safe manner.” During...
Followed by experiencing windfall gains from booming metal prices at LME, state-owned integrated aluminium complex Nalco now aims at improving its profitability further after Utkal D block becomes operational. Nalco was given two captive coal blocks – Utkal D and E – with a combined deposit of 200 million tonnes, out of which, the former is expected to start operating from the end of the year or beginning next year and reduce Nalco's aluminium production cost by 25 per cent by providing the necessary amount of coal as required energy, aiding company to save up to US$500 or INR 35,000 per tonne of aluminium churned out at Nalco’s 0.46 million tonne smelter at Angul. “Most of the statutory clearances for the block are in place and it will be a game changer for the company”, said TK Chand,...
Canadian Prime Minister Justin Trudeau is to make an announcement for aluminium project funding on Thursday, May 10, 2018, at Saguenay, along with Quebec Premier Philippe Couillard and Rio Tinto’s executives. The details of the project are not known yet other than the fact that it will start ahead of by-election call in Quebec region. This move by Justin Trudeau, however, could not avoid going through sharp criticisms from opposition parties. The latter is of the opinion that the Liberal Party is playing politics to influence the outcome of the impending vote in Chicoutimi-Le Fjord, a riding that has been vacant since Dec. 1, 2017. NDP MP Alexandre Boulerice also thinks that this upcoming aluminium project announcement with Rio Tinto has an indication of electoral opportunism, despite his...
After showing gain and closing at US$2384 per tonne on Tuesday May 8, LME aluminium closed down at US$ 2295 per tonne on Wednesday May 9. The metal surged to a high of US$2,370 per tonne from a low around US$2,280 per tonne overnight. Shanghai Metals Market expects it to test support at the five- and 20-day moving averages and trade at US$2,320-2,370 per tonne today. LME aluminium stocks declined to a low level of 2007 yesterday. According to news published by Reuters, as a result of an LME ban on Rusal metal, aluminium stocks "are back to the low levels of 2007, with only 864,000 tonnes left on warrant", Malcolm Freeman, CEO of KingdomFutures, wrote in a note. As on May 9, LME aluminium cash (bid) price stands at US$ 2293 per tonne, LME official settlement price stands at US$ 2295 per...
As shipments grew in some of the major Chinese markets like Wuxi and Foshan, China’s primary aluminium inventory again shrank from 2.21 million tonnes on May 7, 2018, to 2.196 million tonnes on Thursday, May 10, 2018, according to Shanghai Metal Market. On May 7, the inventory had risen from 2.2 million tonnes on May 2, 2018, however, plunged again on May 10 due to rising shipments. As a consequence, some of the Chinese cities also witnessed a shrink in their inventories, such as follows: On the other hand, according to the update from SMM, the average A00 aluminium ingot price dropped further to RMB 14520 per tonne on Thursday, May 10, 2018, from RMB 14560 per tonne on May 8, 2018. The prices are expected to range between RMB 14500 per tonne and RMB 14540 per tonne, with spot discounts...
The Future Aluminium Forum opened its door to industry delegates in Milan yesterday, May 8, at Hotel Michelangelo. The Forum intends to discuss what industry 4.0 means to the future of the aluminium industry and how it can assist in its quest for greater efficiencies. Delegates from major aluminium companies and associations are gathering at the venue to join this debate on applications of various Industry 4.0 architectures like AI, Internet of Things, cloud computing, data analysis etc to ; hear from experts and network with solution providers and industry peers. The Future Aluminium Forum discussions will highlight how Industry 4.0 and ‘smart manufacturing’ will revolutionise aluminium manufacturing and processing and analyse the benefits of implementing Industry 4.0 architecture in the...
LME aluminium opened higher after Early May Bank Holiday. Benchmark aluminium price on London Metal Exchange increased to close at US$ 2384 per tonne on Tuesday, May 8, from US$2316 per tonne on Friday May 4. LME aluminium is expected to trade at US$2,330-2,380 per tonne today. As on May 8, LME aluminium cash (bid) price stands at US$ 2382 per tonne, LME official settlement price stands at US$ 2384 per tonne; 3-months bid price stands at US$2362 per tonne, 3-months offer price is US$ 2363 per tonne; Dec 19 bid price stands at US$2293 per tonne, and Dec 19 offer price stands at US$ 2298 per tonne. The LME aluminium opening stock stood at 1297550 tonnes. Live Warrants totalled at 863950 tonnes, and Cancelled Warrants were 433600 tonne. LME aluminium 3-months ABR price is hovering low at...
London Metal Exchange was closed on Monday May 7 due to Early May Bank Holiday. Shanghai Metals Market expects LME aluminium to expand upwards along the 20-day moving average today with a trading range of US$2,320-2,370 per tonne. The benchmark aluminium price on Shanghai Metal Exchange increased from US$ 2288 per tonne on May 7 to US$ 2298 per tonne on May 7. The SHFE 1806 contract climbed up to a high of RMB 14,700 per tonne yesterday as lead, zinc and most ferrous metals gained. Downstream demand remains firm and the increase in inventory has more to do with latent inventory changes, including stocks at traders moving to major consumption markets. The SHFE 1807 contract climbed to a high of RMB 14,755 per tonne overnight as longs added their positions. It fell to a low of RMB 14,695...
Aluminium Bahrain B.S.C. (Alba) announced that its Line 6 Smelter exceeded more than 10 million work-hours without a single Lost Time Injury (LTI), a major Safety Milestone, by mid-April 2018. Commenting on this record achievement, Alba’s Chief Executive Officer Tim Murray said: “Safety is our best insurance policy. This milestone is truly a remarkable achievement by our Line 6 Smelter team (over 6,000 employees and contractors) and is a testament to the workers and contractors’ commitment to Alba’s Safety standards. I express my thanks to the Line 6 Smelter teams and look forward to attain higher Safety goals as we move ahead with Line 6 Expansion Project construction.” Alba has won international accolades for its strict adherence to local and international Safety standards, rigorous...
