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 edged higher on Thursday, February 14, even though LME aluminium stocks rose nearly 30 per cent over the last the trading days. In the largest single aluminium delivery into LME-listed warehouses since March 19, 2014, 166,225 tonnes of aluminium were delivered into the exchange yesterday. The light metal contract closed at US$2,138 per tonne yesterday, up 0.68 per cent from US$2,123.50 per tonne on Tuesday, February 13. Current benchmark LME aluminium price remains close to the resistance at US$2,315 per tonne. If it fails to break beyond, it may retrace to the support at US$2,072 per tonne. As on February 14, LME official cash buyer aluminium price (Bid Price) stands at US$2,137.50 per tonne, cash seller & settlement aluminium price...
Aluminium stocks on the London Metal Exchange have increased nearly 30% over the last three trading days, with market participants taking advantage of tightness in the February/March nearby spread. 166,225 tonnes were delivered onto the exchange today, the largest single delivery of aluminium into LME-listed warehouses since March 19, 2014. “There is backwardation [in the February/March-2018 spread] and someone took advantage of it – when there is a backwardation people tend to deliver onto the exchange,” a trader said. “The deliveries are linked to the February/March spread backwardation. If the spreads are tight then it does not make sense to keep hold of the metal,” a floor trader added. Traders told Metal Bulletin that the deliveries are expected to help swing the nearby spreads back...
As updated by Shanghai Metals Market, China’s aluminium inventory after Chinese New Year Holiday may continue to go up to 2.1 million tonnes from the present volume of 1.8 million tonnes. Sluggish trading and weak consumption ahead of the week-long holiday has accumulated the stocks, and it is a seasonal increase. Growing inventory has contributed to the decline in SHFE aluminium prices since the beginning of 2018. After an occasional increase yesterday, A00 aluminium Ingot prices remain unchanged at RMB 14,010 per tonne today. The prices are expected to move within a range of RMB 13,990-14,030. Spot discount will range within RMB 240-200 per tonne today. In the individual markets, average primary aluminium ingot prices register a drop except in South China market where it remains flat....
Benchmark aluminium price on London Metal Exchange slipped US$6 per tonne lower on Tuesday, February 13, as LME aluminium inventory grew significantly to 1.28 million tonnes. The light metal contract closed at US$2,123.50 per tonne yesterday, down from US$2,129.50 per tonne on Monday, February 12. Shanghai Metals Market forecasts that LME aluminium will trade at US$2,120-2,155 per tonne on Wednesday, February 14 with persisting pressure at the five-day and 10-day moving averages. As on February 13, LME official cash buyer aluminium price (Bid Price) stands at US$2,122.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,123.50 per tonne, 3M Bid Price is US$2,133 per tonne, 3M Offer Price is US$2,133.50 per tonne, Dec1 Bid Price is US$2,183 per tonne, and Dec1 Offer...
According to the data from Shanghai Metals Market, China’s social inventory of primary aluminium hit a record high of 1.81 million tonnes on Monday February 12, due to sluggish trading ahead of the Chinese New Year holiday next week. This is up from 1.78 million tonnes recorded on Thursday February 8. Inventory details in the major cities in China are as follows: On the face of growing inventory and low consumption, most of the commodities and raw materials remain flat pricewise. The increase in LME aluminium inventory and the indication of growing Chinese export orders have lifted the domestic A00 ingot prices today. After the fall yesterday, average aluminium Ingot prices gained substantially to stand at RMB 14,010 per tonne. The prices are expected to move within a range of RMB...
Benchmark aluminium price on London Metal Exchange dropped 0.58 per cent as inventory rose due to surging Chinese export. The light metal contract closed at US$2,129.50 per tonne on Monday, February 12, down from US$2,142 per tonne last Friday, February 9. Shanghai Metals Market forecasts that LME aluminium will continue to trade low in the short term. The price will move in the range of US$2,120-2,155 per tonne on Tuesday, February 13. As on February 12, LME official cash buyer aluminium price (Bid Price) stands at US$2,129 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,129.50 per tonne, 3M Bid Price is US$2,129.50 per tonne, 3M Offer Price is US$2,130 per tonne, Dec1 Bid Price is US$2,178 per tonne, and Dec1 Offer Price is US$2,183 per tonne. LME aluminium...
Kamran Nabizade, Director General of the Azerbaijan Industrial Corporation, announced on February 7, that the country intended to restart aluminium plant to reduce its reliance on imports. He said: “The goal is to organize the manufacture of primary and final aluminium products. This will make it possible to increase competitiveness of the aluminium production sphere and export potential.” According to trend news agency, Kamran Nabizade would intend to restore Ganja Alumina Plant. “This is necessary for the development of alunite mining in Azerbaijan’s Dashkesan district. The plant will produce alumina and other products from the alunite ore. To do this, the plant needs to be reorganized in accordance with modern technological requirements,” he said. He added: “In particular, it is...
Sluggish trading ahead of the Chinese New Year holiday next week is keeping the Chinese market inactive. There is no such significant movement in the prices of commodities and the raw materials other than the primary ingots that is continuously falling with occasional signs of upward movements. After the fall on last week’s closing, as seen by Shanghai Metals Market, average aluminium Ingot prices dropped further to RMB 100 per tonne today to stand at RMB 13,870 per tonne. The prices are expected to move within a range of RMB 13,850-13,890. Spot discount will range within RMB 220-180 per tonne today. Average A00 ingot prices saw the biggest drop in South China market at RMB 165 per tonne. Post holidays, however, prices would still fall as aluminium supply would ramp up, even if at a...
National Aluminium Company Limited (Nalco) has published its financial results for & upto third quarter ended December 2017. The company has registered a record net profit of INR 722 crore, from INR 144 crore in the corresponding quarter of previous fiscal. The company has been able to break the highest-ever net profit figures in a quarter during the last ten years. Net sales in the third quarter were INR 2,360 crore. For the 9 months ended December 2017, net profit increased 171% to INR 1,085 crore, against the corresponding figure of INR 400 crore for the previous fiscal. Net sales stood at INR 6,538 crore as compared to INR 5,071 crore in the corresponding period of the last financial year. Nalso has produced 54.40 lakh tonnes of bauxite during the first nine months of the current...
Benchmark aluminium price on London Metal Exchange edged further lower on the last trading day of the week ending February 9. Surging aluminium exports from China pressured down LME aluminium prices to US$2,142 per tonne on Friday from US$2,168 per tonne the previous day. Shanghai Metals Market said that LME aluminium is likely to trade at US$2,100-2,135 per tonne range on Monday, February 12. As on February 9, LME official cash buyer aluminium price (Bid Price) stands at US$2,141.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,142 per tonne, 3M Bid Price is US$2,143 per tonne, 3M Offer Price is US$2,144 per tonne, Dec1 Bid Price is US$2,195 per tonne, and Dec1 Offer Price is US$2,200 per tonne. LME aluminium opening stock stands at 1097100 tonnes, total Live...
Aluminium Bahrain B.S.C. (Alba) released its operating and financial results for the full-year and fourth quarter of 2017 during a meeting of the Company’s Board of Directors on Thursday February 08. Alba closed 2017 with a strong financial performance reflecting its resilience in achieving quick recovery of Line 5, which was driven by superb management performance. The Company reported total sales of US$ 2.3 billion in 2017, up 28% from US$ 1.8 billion in 2016. For Q4 2017, total sales stood at US$ 672.2 million, up 39% from US$ 483.0 million in the same period in 2016 – both driven by favourable LME prices. The Company generated a net income of US$ 245.9 million in 2017, up 91% from US$ 128.7 million in 2016. For Q4 2017, Alba posted a net income of US$ 62.4 million, up 72% from US$...
Sluggish trading ahead of the Chinese New Year holiday next week is keeping the Chinese market passive and there is no such significant movement in the prices of commodities and the raw materials. According to Shanghai Metals Market, China’s social inventory of refined aluminium including SHFE warrants stood at 1.78 million tonnes SMM on Thursday February 8, up 17,000 tonnes from a week ago due to buyers’ unwillingness to invest. The inventory status in the major Chinese cities is as follows: SHFE aluminium is expected to get stronger with the approaching of Chinese New Year holiday. The contract outperformed its nonferrous peers yesterday, registering a 0.28% increase. SMM believes this is mostly due to investors pricing in the weak fundamentals of aluminium much earlier on. Some...
Benchmark aluminium price on London Metal Exchange dropped further to close at US$2,168 per tonne on Thursday, February 8, down 0.59 per cent from the previous day’s close at US$2,181 per tonne. Thanks to the recent share market volatility, most of the components in the LME base metal complex were able to hold grounds, except aluminium. Shanghai Metals Market predicts that LME aluminium will trade range-bound at US$2,158-2,193 per tonne range on Friday, February 9, with support at the 60-day moving average. As on February 8, LME official cash buyer aluminium price (Bid Price) stands at US$2,167.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,168 per tonne, 3M Bid Price is US$2,162.50 per tonne, 3M Offer Price is US$2,163 per tonne, Dec1 Bid Price is US$2,213...
UC RUSAL, a leading global aluminium producer, is pleased to announce that it intends to complete the development of a feasibility study in 2018 for the construction of a scandium oxide production unit at one of its Russian operations. Such a development adds to the Company completing another series of pilot-scale tests in 2017 to recover scandium oxide from red mud on its new unit constructed at the Urals Aluminium Smelter (UAZ). The technology encompasses processing red mud from alumina refineries and making scandium oxide as a by-product. This advancement boasts a fundamental difference from attempts by other companies’ at starting an economically feasible production of scandium. At RUSAL, the red mud processing technique was embedded into the conventional alumina production system; it...
Notwithstanding the absence of any strong fundamentals, average price of A00 ingot have registered a moderate gain today to stand at RMB 14,090 per tonne. The prices are expected to move within a range of RMB 14,070-14,110. Spot discount will range within RMB 130-90 per tonne today. Average A00 ingot prices saw the biggest rise in the East China market at RMB 85 per tonne. All other individual markets registered moderate gains. Today’s average aluminium ingot prices in the domestic markets are shown in the table below: As reported by Shanghai Metals Market, spot aluminium in Guangdong area mostly traded at RMB 14,110-14,120 per tonne on Wednesday February 7. Sellers were unwilling to give in much on prices even though the SHFE contract closed lower. Trading of ingots was more active than...
Benchmark aluminium price on London Metal Exchange shed 0.6 per cent to touch the lowest at US$2,158 per tonne since January 9, yesterday. The light metal contract then recuperated some losses to close at US$2,181 per tonne. Current price trend analysis by Shanghai Metals Market suggests that LME aluminium may continue to test support at the 60-day moving average and trade at US$2,145-2,170 per tonne range on Thursday, February 8. As on February 7, LME official cash buyer aluminium price (Bid Price) stands at US$2,180.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,181.50 per tonne, 3M Bid Price is US$2,178.50 per tonne, 3M Offer Price is US$2,179 per tonne, Dec1 Bid Price is US$2,228 per tonne, and Dec1 Offer Price is US$2,233 per tonne. LME aluminium opening...
Rio Tinto announces financial results for 2017 with a cash generation of $13.9 billion, full year dividend of record $5.2 billion and an additional $1 billion share buy-back. The share buy-back will be completed by the end of 2018. Commenting on the results, Rio Tinto chief executive J-S Jacques said “Today we have announced a strong set of results with operating cash flow of $13.9 billion, a record full year dividend of $5.2 billion and an additional $1 billion share buy-back. This brings total cash returns to shareholders to $9.7 billion declared for 2017.” Underlying EBITDA for the full year stood at $18.6 billion and a ten year record EBITDA margin of 44 per cent has been recorded. The company reported underlying earnings of $8.6 billion and net earnings of $8.8 billion. Rio Tinto...
The Chinese market is lying low due to the absence of any strong fundamentals. Average A00 ingot prices have registered a slight drop today to stand at RMB 14,070 per tonne. The prices are expected to move within a range of RMB 14,050-14,090. Spot discount will range within RMB 130-90 per tonne today. As reported by Shanghai Metals Market, China’s aluminium output was down 1.7% YoY in January to 2.99 million tonnes. The volume also dropped by 16,000 tonnes from December 2017. In 2017, China churned out 35.15 million tonnes of aluminium, up 7.6% from 32.64 million tonnes (IAI data) in 2016. The lower production was attributed to the operation shutdown at Aluminium Corp of China (Chalco) in Guizhou province due to power supply disruption. The company has also done a capacity swap with...
