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 a gain on Thursday to US$ 2602.5 per tonne, LME aluminium closed lower at US$ 2463 per tonne on Friday April 20. As updated by Shanghai Metals Market, given the US sanctions on Rusal and the anticipated production cut, LME aluminium technically remains its upward trend but with weaker momentum. SMM expects it to trade at highs between US$ 2,435-2,525 per tonne today. As on April 20, LME aluminium cash (bid) price stands at US$ 2461per tonne, LME official settlement price stands at US$ 2463 per tonne; 3-months bid price stands at US$2448 per tonne, 3-months offer price is US$ 2450 per tonne; Dec 19 bid price stands at US$2338per tonne, and Dec 19 offer price stands at US$ 2343 per tonne. The LME aluminium opening stock has dropped to 1395550 tonnes. Live Warrants totalled at 939750...
With an incessant rise in aluminium future price in China as a consequence of US sanctions against Rusal, a large number of brokers and downstream consumers are becoming keen to purchase and stock aluminium for their future use, thereby, contributing to an enthusiastic trading activity in China’s spot aluminium market across all the major Chinese cities on Thursday April 19, 2018, Shanghai Metal Market research found. While in Shanghai, most transactions stood between RMB 15080 per tonne and RMB 15160 per tonne with spot discounts hovering at RMB 60 to RMB 50 against the 1805 contract, in Wuxi and Hangzhou, transactions were seen strolling around RMB 15070 per tonne to RMB 15150 per tonne and RMB 15080 per tonne to RMB 15170 per tonne respectively. In Guangdong, on the other hand, were...
Benchmark aluminium price on London Metal Exchange increased further to close at US$2602.5 per tonne on Thursday, April 19, up from the previous day’s close at US$ 2528.50 per tonne on Wednesday April 18.According to Shanghai Metals Market, LME aluminium dipped to a low of US$22,397 per tonne and tested support at the five-day moving average overnight amid an overall selloff sentiment. SMM expects the contract to trade at US$2,410-2,500 per tonne today. As on April 19, LME aluminium cash (bid) price stands at US$ 2597.50per tonne, LME official settlement price stands at US$ 2602.50 per tonne; 3-months bid price stands at US$2586 per tonne, 3-months offer price is US$ 2587 per tonne; Dec 19 bid price stands at US$ 2445 per tonne, and Dec 19 offer price stands at US$ 2450 per tonne. The LME...
Alcoa Corporation, the leading global conglomerate in bauxite, alumina and aluminium, reported first quarter 2018 results that show resilient profitability amid lower alumina prices earlier in the year. The company closed the quarter on March 31, 2018 with $1.2 billion cash, down $162 million sequentially, but up $392 million year-over-year. Alcoa is projecting its full-year 2018 adjusted EBITDA excluding special items to range between $3.5 billion to $3.7 billion due to recent favourable market conditions. In first quarter 2018, Alcoa reported net income of $150 million and excluding special items, adjusted net income of $145 million. Alcoa reported $653 million of adjusted EBITDA excluding special items, down 18 percent from $796 million in fourth quarter 2017. “Lower alumina prices...
Aluminium Bahrain B.S.C. (Alba) kicked-off the 2nd quarter of 2018 with the safe delivery of two of six rectifier transformer units to Line 6 Expansion Project Site. The world’s largest rectifier transformer (rectiformer) rated at 120 kA at 1880V DC, is designed and built by Fuji Electric, Japan. The equipment for the third and fourth rectiformers have been shipped from Japan and are scheduled to arrive on-site by mid-May 2018 while the final shipment of the remaining units is expected to reach Alba by July 2018. Commenting on this milestone, the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: “Line 6 Expansion Project is brimming with all kinds of activities – the construction of Line 6 Smelter, Power Station 5 and Power Distribution System (PDS)...
Following Glencore and Rio Tinto’s decision to declare force majeure on Russian aluminium contracts, Japanese companies have asked Russia’s united company Rusal not to ship refined aluminium and other products to them further. On the occasion of US sanctions against world’s No. 2 aluminium producer Rusal, many Japanese buyers are also left with concerns about the limited availability of aluminium and lifting global prices by a fifth. On London Metal Exchange (LME), the aluminium price has already hit the highest in last six years, hovering at US$2400 per tonne. "We have requested Rusal stop shipments of aluminum for our term contracts as we can't make payment in U.S. dollars and we don't want to take the risk of becoming a secondary sanction target by the United States," said an anonymous...
Amid soaring aluminium prices across the globe, aluminium companies in China are indeed savouring propitious time as their stock prices reach the highest level. Shanghai Metal Market learned early this morning 19 th of April, 2018 that the stock prices of Aluminium Corporation of China (Chalco) climbed 6 per cent to hit the highest level of 4.96 yuan per share in last one month. On the event of US sanctions against Russian aluminium companies including the aluminium giant Rusal, as well as, Glencore’s and Rio’s decision to declare force majeure on Russia-linked contracts have jointly triggered the price surge of both aluminium and alumina globally. According to Shanghai Metal Market, China too is witnessing a price hike, as the price of average A00 aluminium ingot surged remarkably from...
As seen by Shanghai Metals Market, LME aluminium registered a fresh high since August 2011 at one point overnight .The metal closed at US$ 2528.50 per tonne on Wednesday April 18, up from US$2375.5 per tonne on Tuesday, April 17. SMM sees considerable upward room for it given the sweeping influence from US sanctions on Rusal and the potential production cut. SMM forecasts it to strongly trade at US$ 2,540-2,600 per tonne today. As on April 18, LME aluminium cash (bid) price stands at US$ 2527.50 per tonne, LME official settlement price stands at US$ 2528.50per tonne; 3-months bid price stands at US$2522per tonne, 3-months offer price is US$ 2523 per tonne; Dec 19 bid price stands at US$ 2433 per tonne, and Dec 19 offer price stands at US$ 2438 per tonne. The LME aluminium opening stock...
One of the world’s largest metals and mining corporations Rio Tinto today announced aluminium output for the first quarter of 2018. The production has plunged by 5 per cent in Q1 to stand at 0.8 million tonnes against the contemporary period last year. This is primarily due to disruptions at its Becancour smelter in Canada. The company has declared its total divestments of US$5 billion for 2018 as well, subject to binding offers for the Aluminium Dunkerque smelter in France for US$500 million and the ISAL aluminium smelter in Iceland for US$345 million. The sales are expected to complete in the second quarter of 2018. Rio also reported that it is reviewing Rusal’s 20 per cent stake in its Queensland Alumina Refinery, along with bauxite sales to Rusal’s refinery in Ireland and offtake...
After the stupendous surge in average A00 aluminium ingot price from RMB 14450 per tonne to RMB 14720 per tonne on April 17, 2018 on the occasion of aluminium production rise to 8.12 million tonnes in China in the first quarter of 2018, it again remained unchanged on April 18, 2018, Shanghai Metal Market learned. Like the previous day, the prices are expected to range between RMB 14700 and RMB 14740 per tonne, with a slight swing in spot discounts to settle at RMB 70 to RMB 30 per tonne. However, a few major markets in China have registered slight changes on the positive note, including East, South and North, wherein the aluminium ingot prices witnessed a growth to RMB 14715 per tonne from RMB 14690, RMB 14720 per tonne from RMB 14685, and RMB 14730 per tonne from RMB 14720 respectively....
Benchmark aluminium price on London Metal Exchange increased further to close at US$2375.5 per tonne on Tuesday, April 17, up from the previous day's close at US$ 2358.50 per tonne. According to Shanghai Metals Market, LME aluminium rebounded and closed at US$2,411 per tonne after it dipped to a low of US$2,346 per tonne as the ZEW eurozone economic sentiment indicator fell short of expectations overnight. SMM expects it to remain at high levels in the short run due to US sanctions on Rusal. The contract will trade in the range of US$2,389-2,470 per tonne today. As on April 17, LME aluminium cash (bid) price stands at US$ 2375 per tonne, LME official settlement price stands at US$ 2375.50per tonne; 3-months bid price stands at US$2371.50 per tonne, 3-months offer price is US$ 2372 per...
Two back-to-back incidents in the aluminium industry, started with Norsk Hydro’s production cut followed by the US sanctions against Russian aluminium oligarch Oleg Deripaska-led Rusal could lead to aluminium supply starvation in global market, said Hydro’s chief executive on Monday April 16, 2018. The situation may get worsen further if Hydro’s production cut at its aluminium plant Albras in Brazil continues longer, in addition to an unresolved dispute at its nearby Alunorte alumina refinery. It may even result in an output cut at Norwegian smelter, which receives alumina from Alunorte, said Svein Richard Brandtzaeg. “This is not positive for the aluminum industry. We’ve got long-term customers seeking stable relations, and our car-making customers are particularly worried in this...
As seen by Shanghai Metals Market, LME aluminium soared and hit a high of US$ 2,403 per tonne since 2011, at one point overnight. The metal closed at US$ 2358.50 per tonne on Monday April 16, up from US$ 2325 per tonne on Friday April 13. As US sanctions on Rusal continues to cast a shadow on the market, SMM expects LME aluminium to trade rangebound at US$ 2,350-2,400 per tonne today. As on April 16, LME aluminium cash (bid) price stands at US$ 2358 per tonne, LME official settlement price stands at US$ 2358.50 per tonne; 3-months bid price stands at US$23048 per tonne, 3-months offer price is US$ 2349 per tonne; Dec 19 bid price stands at US$ 2300 per tonne, and Dec 19 offer price stands at US$ 2305 per tonne. The LME aluminium opening stock has increased to 1360275 tonnes. Live Warrants...
On 0.3 per cent increase in aluminium production over past three months this year totalling 8.12 million tonnes in China, average A00 aluminium ingot price surged once again across all major Chinese markets and closed at RMB 14720 per tonne after remaining unchanged at RMB 14450 from April 13 to April 16, 2018, according to Shanghai Metal Market on April 17, 2018. The prices are expected to range between RMB 14700 and RMB 14740 per tonne, with spot discounts to settle at RMB 60 to RMB 20 per tonne. Prices registered a growth from RMB 50 per tonne to RMB 270 per tonne across all markets. While in East, the ingot price jumped from RMB 14455 per tonne to RMB 14690 per tonne; in North, the price registered a hike from RMB 14440 per tonne to RMB 14720 per tonne, as on April 17, 2018. Although...
LME aluminium shows some gain after a drop last Thursday. LME aluminium closed at US$2325 per tonne on Friday April 13, up from US$ 2220.5 per tonne on Thursday April 12. SMM expects LME aluminium to trade rangebound at a relatively high level of RMB US$2,260-2,295 per tonne today. Despite the US sanctions on Rusal, a record low SHFE/LME aluminium price ratio is likely to boost China’s aluminium exports and offset the global dip in supply, according to Shanghai Metals Market. As on April 13, LME aluminium cash (bid) price stands at US$ 2324.50 per tonne, LME official settlement price stands at US$ 2325 per tonne; 3-months bid price stands at US$2302.50 per tonne, 3-months offer price is US$ 2303.50 per tonne; Dec 19 bid price stands at US$ 2245 per tonne, and Dec 19 offer price stands at...
After swinging between 2.231 million tonnes and 2.227 million tonnes over a week, China’s aluminium inventory dropped further to 2.216 million tonnes, according to Shanghai Metal Market on April 16, 2018. This is 15000 million tonnes down from 2.231 million tonnes recorded on April 12, 2018. Transactions in major Chinese cities have plunged, as indicated in the below chart. According to SMM, the average A00 aluminium ingot price remains flat since 13th of April, 2018 at RMB 14450 per tonne. This indicates a stable market sentiment with not much shift or alteration. The prices are expected to continue ranging between RMB 14430 and RMB 14470 per tonne, with only a slight swing in spot discounts to settle at RMB 110 to RMB 70 per tonne. While in East the average aluminium ingot price is...
According to the Quint report, Indian aluminium producers, especially the integrated ones having presence right from raw material to final product like Hindalco and Nalco are likely to be benefitted on the US sanctions against twelve Russian companies including billionaire Oleg Deripaska-led Rusal, said Gautam Chakraborty, analyst-institutional research at brokerage Emkay Global Financial Services. The sanctions against Rusal followed by the ban of Russian aluminium prices on the London Metal Exchange has resulted in inevitable price jump by 8 per cent in the last two days, primarily because Rusal accounted for 13 per cent of the global output outside China and recorded to produce 3.71 million tonnes of primary aluminium in 2017 and also earned about 14 per cent of revenue from the export...
China’s inventory of refined aluminium has been oscillating between 2.231 million tonnes and 2.227 million tonnes since more than a week. After a plunge to 2.227 million tonnes on April 8, 2018, the inventory including SHFE warrants once again soared to 2.231 million tonnes on Thursday April 12, 2018, with increased transactions in some of the major Chinese cities like Wuxi and Jiangsu, Shanghai, Tianjin and Chongqing. More details are as follows: According to another update from Shanghai Metal Market, average A00 aluminium ingot price jumped conspicuously from the previous day to close at RMB 14450 per tonne. Although aluminium ingot price was more or less on a rising spree over a couple of weeks from RMB 13960 per tonne on April 4 to RMB 14080 per tonne on April 9 followed by RMB 14200...
