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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Benchmark aluminium price on London Metal Exchange dropped to close at US$ 2220.5 per tonne on Thursday, April 12, down from the previous day’s close at US$ 2253 per tonne. According to Shanghai Metals Market, US sanctions on Russia buoyed LME aluminium as investors added their long bets overnight. This followed after prices fell to a low of US$2,203 per tonne under pressure from a higher US dollar as LME aluminium inventories surged 90,000 tonnes to 1.25 million tonnes. SMM expects the contract to trade at US$2,275-2,315 per tonne today. As on April 12, LME aluminium cash (bid) price stands at US$ 2219 per tonne, LME official settlement price stands at US$ 2220.50 per tonne; 3-months bid price stands at US$ 2211 per tonne, 3-months offer price is US$ 2212 per tonne; Dec 19 bid price...
Anglo-Swiss miner and commodity trader, Glencore Plc has decided to terminate 50,000 tonnes of contract specifying metal of Russian origin, Rusal in particular, as reported by anonymous sources. In the recent time, amidst a series of news clouding the internet relating to the US slapped punitive sanctions on Rusal, Glencore to declare force majeure on aluminium supply from Russia has not missed to grab the attention of many stalwarts in the industry. Initially, it was not very clear what volume would come under force majeure or which buyers would be affected. On Tuesday April 10, Glencore reported while evaluating the contracts that those contracts with Rusal were not very “financially material” to the company. However, the declaration of force majeure did not appear as a surprise to most...
Vedanta Resources reports record aluminium annual production at 1.7 million tonnes for the Full Year ended 31 March 2018. Aluminium production for the fourth quarter FY2018 was at 477,000 tonnes, up 35% YoY and 7% QoQ. The growth was primarily driven by the ramp up at the Jharsuguda-II smelter. It followed the complete ramp up of the Balco II smelter in Q1 FY2018. The exit monthly run rate stood at c.2.0 million tonne. Stabilised aluminium production (i.e. production excluding trial run) was 468,000 tonnes in Q4 FY2018. Ramp-up of line-1 and line-2 at Jharsuguda-II were completed in Q3 FY2018 and Q4 FY2017 respectively. At line-3, 220 pots are powered on and the full ramp-up was delayed due to infrastructure development works undertaken by the railway authorities for capacity enhancement....
Owing to the unwillingness of East China sellers to move following the rebound of the SHFE 1806 contract, trading in China’s aluminium spot market dipped on Wednesday April 11, 2018, learned Shanghai Metal Market. As a result, the average A00 aluminium ingot price dropped drastically from RMB 14,230 to RMB 14,170 per tonne today April 12, 2018. The prices are expected to range between RMB 14150 and RMB 14190 per tonne with spot discounts to settle at RMB 80 to RMB 40 per tonne. While the transactions at Shanghai and Wuxi hovered at RMB 14,200 to 14,230 per tonne with spot discounts ranged between RMB 70 to RMB 60 per tonne, Hangzhou and Guangdong witnessed transactions at RMB 14,210 to RMB 14,230 per tonne and RMB 14,240 to 14,280 per tonne respectively. However, in Guangdong, although...
LME aluminium registered five consecutive days of gains as the US imposed sanctions on Russian aluminium giant Rusal. It hit US$2,277.5 per tonne overnight, a record high since early January 2018. After testing a record high the metal contract finally closed at US$ 2253 per tonne on Wednesday April 11, up 3.7% from US$2,172 on Tuesday April 10. According to Shanghai Metals Market, LME aluminium is likely to remain strong in the short term and to trade at US$2,220-2,260 per tonne today. As on April 11, LME aluminium cash (bid) price stands at US$ 2251 per tonne, LME official settlement price stands at US$ 2253 per tonne; 3-months bid price stands at US$ 2243 per tonne, 3-months offer price is US$ 2245 per tonne; Dec 19 bid price stands at US$ 2232 per tonne, and Dec 19 offer price stands...
Albras Alumínio Brasileiro, the second largest aluminium producer in Brazil is going to curtail aluminium production by 50 per cent at its Albras Aluminium Plant, decided yesterday April 10, 2018 by the company’s board of directors. After curtailment, Albras will produce only around 230,000 tonnes against its earlier annual production of 460,000 tonnes. This decision is primarily taken due to Alunorte’s indisposition to supply all the required alumina to Albras after being forced by the state environment office of Para to halve the production in March, 2018 because of non-compliance relating to residue leak from bauxite deposition through clandestine tubes. However, the Brazilian aluminium smelter has a plan to recommence its full production once Alunorte also resumes its production like...
The announcement of the first Aluminium Stewardship Initiative (ASI) certification, bagged by Rio Tinto’s integrated aluminium facilities in Quebec, Canada and Northern Territory, Australia, for meeting the industry’s highest standards in respect to environmental, social and governance practices across the aluminium lifecycle has taken the internet by storm. Rio Tinto's five aluminium smelters, the Vaudreuil refinery, casting and spent potlining treatment centres and associated infrastructure such as power, port and railway facilities in Quebec, Canada, along with the Gove bauxite mine in Australia have received the award. Rio Tinto was also the first founding member of the ASI, the only comprehensive voluntary sustainability standard initiative for the aluminium value chain to ensure...
The sanctions imposed on Rusal and its main owner, metals magnate Oleg Deripaska is creating huge concern in the world aluminium market. According to data by LME on Monday April 9, Eastern Europe accounted for 36% of LME aluminium inventories, the majority of which is supplied by Russia. The sanctions imposed on Rusal and its main owner, metals magnate Oleg Deripaska, mark the first time a major international company has been targeted by Washington. After the sanctions, London Metal Exchange said it would suspend Rusal's aluminium from its list of approved brands from April 17. Rusal, the leading aluminium producer that churned out 3.7 million tonnes of aluminium in 2017, supplies about ten per cent of total US aluminium import. Rusal accounts for about 17% of supply outside of China,...
Since when the Trump administration has announced punitive sanctions against a list of Russian individuals and entities including the aluminium-giant Rusal, every individual associated with aluminium industry has been anticipating the most dreadful conditions to come. One of them was Rusal’s suspension from the London Metal Market’s brand list, which is going to turn true very soon as the London Metal Exchange approves suspension of Rusal’s metal from its brand list. This would be put into effect from April 17, 2018, according to a report. From that date onwards, any metal owner wanting to place warrants on aluminium under any brand of Rusal will have to provide written evidence as a proof to not violate sanctions. Otherwise, the LME warehouses will not accept it for storage. This is a...
LME aluminium climbed 3.7% to a record high in two months, driven by US sanctions and trade restrictions on Rusal. LME aluminium tested a high of $2,242 per tonne overnight as the US dollar weakened and as the US-Russia trade conflict took over the trade war issue. Reuters reported yesterday London Metal Exchange will suspend Rusal's aluminium from its list of approved brands from April 17. According to data by the exchanges on Monday April 9, Eastern Europe accounted for 36% of LME aluminium inventories, the majority of which is supplied by Russia. The metal contract finally closed at US$2,172 on Tuesday April 10. According to Shanghai Metals Market analysis, LME aluminium is likely to trade rangebound at US$2,185-2,235 today. SMM sees further upward room for LME aluminium. As on April...
Average A00 aluminium ingot price seems to be on a rising spree amidst an overall positive sentiment in the China market, where there’s a balance forming between production and consumption resulted in aluminium inventory and output plunge and input costs’ steady escalation. After a sharp rise from RMB 14080 per tonne to RMB 14200 per tonne yesterday April 10, 2018, Shanghai Metal Market research found a further hike of average A00 aluminium ingot price to RMB 14230 per tonne today April 11, 2018. The prices are expected to range between RMB 14210 and RMB 14250 per tonne with spot discounts to settle at RMB 110 to RMB 70 per tonne. This on-going week has been showing a great growth of average aluminium ingot price ranged between RMB 14080 per tonne and RMB 14230 per tonne against the last...
India and US are going to exchange dialogue over Indian aluminium and steel imported tariffs at India-US Trade Policy Forum Meeting today April 10, 2018 at Delhi. As reported, India is looking forward to an amicable settlement to the issue and not willing to indulge in a trade war with the US. “The issue of raised tariffs on steel and aluminium will be discussed at length at the Indo-US Trade Policy Forum meeting on Tuesday in New Delhi, but we don’t know yet what the US expects in return if it were to withdraw the duty hike. We will approach the matter with an open mind as we do not want a trade war with the country which is an important trade partner,” said a government official. He even said that the aluminium and steel items which have been penalised with import tariffs are largely...
US sanctions on Rusal has lifted the LME aluminium price, creating metal supply insecurities among traders and investors. LME aluminium contract rallied two per cent on Monday’s trading and finally closed at US$2,113-per tonne on April 9 from US$1967 on Friday, April 6. Shanghai Metals Market expects LME aluminium to stay range bound between the 40- and 60-day moving averages with a trading range at $2,110-2,150 per tonne considering the panic buying by traders encouraged by the US sanctions. As on April 9, LME aluminium cash (bid) price stands at US$ 2113 per tonne, LME official settlement price stands at US$ 2114 per tonne; 3-months bid price stands at US$ 2121 per tonne, 3-months offer price is US$ 2128 per tonne; Dec 19 bid price stands at US$ 2155 per tonne, and Dec 19 offer price...
As reported by Reuters shares of aluminium producer Rusal, owned by Russian billionaire Oleg Deripaska plunged as much as 41.8 per cent on Monday in Hong Kong Exchange after the U.S. administration announced sanctions on its co-founder Oleg Deripaska and seven other firms linked to him. They were the most prominent targets in a list of 12 Russian companies the U.S. hit with sanctions on Friday. U.S. sanctions generated uncertainties and doubt among the traders and investors on the future of the company’s banking and trading relationships. “The company’s initial assessment is that it is highly likely that the impact may be materially adverse to the business and prospects of the group,” the company said in a filing to the Hong Kong bourse on Monday. It said further evaluations were being...
After the two days of holiday for Qingming Festival in China on Thursday April 5 and Friday April 6, the aluminium market shows an overall positive sentiment. Aluminium traders, manufacturers and investors get a reason to rejoice as both aluminium inventory and output declined. According to the Shanghai Metal Market data on Sunday April 8, China’s refined aluminium inventory including SHFE warrants plunged and returned to 2.227 million tonnes as downstream producers boosted their stock piles. This brings back an optimistic revision in aluminium inventory after a hike on April 4, 2018 from 2.27 million tonnes to 2.231 million tonnes. The current inventory status in major Chinese cities is as follows: Another update from SMM shows a fall in Aluminium output as well, which is down by 2.7 per...
Norwegian aluminium company Norsk Hydro ASA's wholly-owned subsidiary Hydro Energi AS has signed a long-term power contract with Norwegian power producer Statkraft, for annual supply of 0.75 terawatt hours (TWh) from 2021 to 2030 and 1 TWh from 2031 to 2038. The contracts will contribute to supplying power to Hydro's aluminium plants in Norway in the years after 2020, when the existing long-term power contract with Statkraft expires. "We have a good and long-standing relation with Statkraft, and I am pleased that we have been able to secure additional long-term renewable power for our Norwegian aluminium portfolio at competitive terms", says Executive Vice President and Head of Energy and Corporate Business Development Arvid Moss. Since 2014 Hydro has, including the above-mentioned...
After registering a record low in eight months, LME aluminium touched a high at $2,063 per tonne last Friday. After the announcement that the U.S. sanctioned and froze Oleg Deripaska's assets subject to US jurisdiction, aluminium prices on the London Metal Exchange gained by 2.2% at the close on Friday April 6. However, the initial upturn started correcting and the contract finally closed the trading day at US$1967 on Friday, April 6. London aluminium rallied two per cent on Monday’s trading and is expected to rise further. SMM expects LME aluminium to trade between $2,060-2,100 per tonne today while traders will be on a buying spree due to uncertainties regarding Rusal aluminium. As on April 6, LME aluminium cash (bid) price stands at US$ 1966 per tonne, LME official settlement price...
Aluminium Bahrain (Alba) has reported a year-on-year increase in both production and sales for the first quarter of 2018. The company’s sales volume reached 251,637 tonnes in Q1 2018, an increase of 3.6 per cent Year-over-Year (YoY). Production stood at 259,399 tonnes, up 4.3 per cent YoY In addition, the company closed the quarter with Value-Added (VA) sales averaging 58 per cent of total shipments, from 56 per cent for the same period in 2017. Commenting on Alba’s Sales volume and Production for Q1 2018, Alba’s Chief Executive Officer, Tim Murray said: “Despite the market’s volatility, we continue to capitalize on our culture of ‘always do better than necessary’ and were able to stretch our targets thanks to our operational efficiency and dedication of our employees.” We aim to continue...
