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...
Grow with
AL Circle
According to a Reuters report, London base metals on Wednesday recovered some of the ground lost in the previous session as global equities bounced back after days of sharp falls and investors focused on fundamentals. LME aluminium contract continued to drop till yesterday’s closing and the light metal dropped further from US$ 2202 per tonne on February 5 to close at US$ 2196 per tonne on February 6. Good market fundamentals may provide some support to the prices today as aluminium gained 1 per cent on Wednesday’s trading. The LME aluminium price, according to Shanghai Metals Market is expected to trade at $2,150-2,185/t. As on February 6, LME official cash buyer aluminium price (Bid Price) stands at US$ 2195.50per tonne, cash seller & settlement aluminium price (Offer price) is US$ 2196...
Judging by the somewhat stoic reaction of the Indian aluminium industry after the unveiling of Budget 2018 last Thursday, February 1, it is not hard to tell that the announcements have failed its expectations. Not a single demand or wish from the list of many has been addressed in the last budget presented by the NDA government before elections. But nonetheless, the Budget spoke of an economy built on advanced infrastructure, enhanced manufacturing and greater employment. There are areas of hope which can certainly give the right traction to the Indian aluminium industry as a whole. Five points of hope for Indian aluminium industry in Budget 2018: It is a Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors -...
Alro said on Friday that its shareholders have approved an investment of USD 61 million in 2018.The company expects net profit of USD 42.8 million and sales revenue of USD 662.9 million this year, according to Business Review. The company reported net profit of RON 223.4 million in the first nine months of 2017. Revenue from sales increased 18 per cent to RON 1.86 billion. Alro, one of the biggest aluminium smelters in Central and Eastern Europe, is part of the international industrial and investment group Vimetco NV. The company has an installed production capacity of 265,000 tonnes per year. The main markets for the products manufactured by Alro are within the EU (Germany, Hungary, Poland, Greece and Romania). Alro also exports to the USA and Asia Last month, Alro signed three-year USD...
Fundamentals for the lightweight metal remain weak in China. There is lack of activities in the market and domestic prices for most of the raw materials and primary metal remain flat. The market is expected to pick up before the Chinese New Year holidays. After a moderate gain, average A00 ingot prices have registered a further drop 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. Though the A00 ingot prices showed some gain in mid-January, the trend has been downward since the beginning of 2018. Prices of primary ingot have dropped across all domestic markets. Aluminium ingot in the east China market remains the lowest at RMB 14,065 per tonne today. Though alloy prices...
Benchmark aluminium price on London Metal Exchange slid again on the first trading day of the week as market sentiments soured across the globe and dollar strengthened due to safe-haven buying. The light metal contract closed at US$2,202 per tonne on Monday, February 5, down from US$2,228 per tonne on Friday, February 2. Recent trend analysis suggests that LME aluminium may remain range-bound in the near term as there is pressure around the moving averages. As on February 5, LME official cash buyer aluminium price (Bid Price) stands at US$2,201.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,202 per tonne, 3M Bid Price is US$2,202 per tonne, 3M Offer Price is US$2,203 per tonne, Dec1 Bid Price is US$2,253 per tonne, and Dec1 Offer Price is US$2,258 per tonne....
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, announced that its Line 6 Smelter, of the iconic Expansion Project, achieved a significant milestone - the First Cathode Sealing Operation - on Wednesday January 31, 2018. The first cathode is an integral part of the pot lining activities for the new Line 6 pots based on the Dubal DX+ Ultra Technology that is being employed at the Line 6 Smelter. Commenting on this achievement, Alba’s Chairman of Board of Directors Shaikh Daij Bin Salman Bin Daij Al Khalifa said: “We are very much pleased with the overall progress we have made on Line 6 Smelter. The focused-approach adopted by our team has yielded nicely on the progress of Engineering (79%), Procurement (83%), Contracts (97%) and Construction (17%)...
Rusal said its aluminium production rose 1.4 per cent quarter-on-quarter in 4Q17 to 944 thousand tonnes, with Siberian smelters representing 94 per cent of total aluminium output. In 4Q17, aluminium sales increased by 3.3 per cent QoQ totalling 1 million tonnes. In 2017, the company produced 3,707 thousand tonnes of aluminium, an increase of 0.6 year on year. Aluminium sales increased 3.6 per cent YoY to 3,955 thousand tonnes. “This increase was achieved largely due to an increase in third party aluminium products sales (+91.3% YoY to 169 thousand tonnes),” Rusal said. In 4Q17, production of value added products stood at 469 thousand tonnes, up 9.1 per cent YoY. Sales of VAP declined 3.4 per cent QoQ to 462 thousand tonnes. “The QoQ decline in VAP sales dynamics is largely explained by a...
Sohar Aluminium successfully resumed full operations in record time after an unexpected disruption in its normal operations, which led to the complete shutdown of its Potline on August 4th, 2017. The entire plant was involved in the recovery efforts to ensure the fastest return to full production, while sustaining excellent safety standards. The recovery process was recognized as an important accomplishment within the Aluminium industry. Sohar Aluminium pays tribute for this great success to all its employees and contractors for their resilience, determination, and their “all-inclusive teamwork”. The company takes pride in its entire team that demonstrated excellence and efficiency of its operations, and thanks its Shareholders, Oman Oil, TAQA and Rio Tinto and all Stakeholders for their...
Benchmark aluminium price on London Metal Exchange inched higher on Friday, February 2, as dollar weakened and market sentiments were moderately favourable. The light metal contract closed at US$2,228 per, up from US$2,218 per tonne on Thursday, February 1. Shanghai Metals Market (SMM) foresees range-bound trading in LME aluminium; says the contract will trade at US$2,210-2,240 per tonne range on Monday, February 5. As on February 2, LME official cash buyer aluminium price (Bid Price) stands at US$2,227 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,228 per tonne, 3M Bid Price is US$2,226 per tonne, 3M Offer Price is US$2,227 per tonne, Dec1 Bid Price is US$2,275 per tonne, and Dec1 Offer Price is US$2,280 per tonne. LME aluminium opening stock stands at 1077650...
Hindalco Industries Ltd., released standalone unaudited financial results for the quarter ended December 31, 2017. The company produced 323 thousand tonnes of aluminium in Q3 FY18. VAP (including Wire Rod) production stood at 123 thousand tonnes, up 3 per cent. Hindalco’s revenue increased 18.4 per cent to INR 11,023 crore for December quarter, led by macro factors, volumes and by-product realisation. The company reported net profit of INR 376 crore for the quarter ended December 31, 2017. EBITDA came in at INR 1,611 crore, an increase of 15 per cent compared to the previous year, driven by higher volumes in both businesses and supportive macros, partly offset by higher input costs. Revenue from aluminium business increased to INR 5,323 crore, led by higher sales of aluminium and...
The Saudi Arabian Mining Company (Ma’aden) published its consolidated financial and operating results for the year ending December 31, 2017. The company reported a strong profit growth driven by increased production and sales, improved commodity prices and tight cost control. Ma’aden produced 916k tonnes of primary aluminium in 2017, an increase of 5 per cent compared to last year. Net profit increased SAR 0.8 billion in 2017, from SAR 0.15 billion in 2016. EBITDA in 2017 rose 56 per cent to reach SAR 5.8 billion. Sales revenue jumped to SAR 12.1 billion, up 28 per cent YoY. Ma’aden President and CEO, Eng. Khalid Al Mudaifer said: “We generated strong financial results this year which demonstrated the benefits of Ma’aden’s robust business model as a low cost industry leader as we saw the...
Vedanta Resources has released both the production and financial results for Q3 FY2018 ended 31 December 2017. Vedanta reports 445,000 tonnes of aluminium production in Q3 FY2018, up 40% YoY and 11% QoQ as a result of complete ramp up at the Jharsuguda-II smelter following the ramp up in Balco II smelter in Q1. Production excluding trial run stood at 427,000 tonnes in Q3 FY2018 with an exit monthly run rate of 1.8 tpy. Jharsuguda-I has ramped up all the 228 pots affected by the April 2017 outage are fully ramped up and are currently operational. Jharsuguda-II has ramped up 2 potlines and in line-3, 193 pots are operational and will be fully ramped-up by Q4 FY2018. Line-4 continues to be under evaluation. Production cost for hot metal in Q3 FY2018 increased 36% YoY to US$ 1,945 per tonne,...
Israeli conglomerate Delek Group is weighing the prospect of building an aluminium smelting operation powered by natural gas. According to domestic media, the company is closing a feasibility study on a project that is expected to require a capital investment of roughly US$1.2 billion. Local reportage on the subject reveals that Delek’s majority owner Yitzhak Tshuva consulted with Minister of the Economy and Industry Eli Cohen late last week to discuss the project. The proposal anticipates a smelter that turns out 1 million metric tons per annum, powered by a captive natural gas power plant capable of producing up to 1,600 mW, which is roughly a tenth of Israel’s entire electrical production at present. Such a power plant would be Israel’s largest gas-fired power plant, consuming between...
Aluminium prices on London Metal Exchange hit a two-week low on Thursday, February 1, as worries grew stronger over rising stockpiles in China. Despite elaborate smelter capacity cuts Chinese market continues to remain in surplus, and this is likely to keep the lid on rising LME aluminium prices. The light metal yesterday closed at US$2,218 per, down from US$2,224.50 per tonne on Wednesday, January 31. Shanghai Metals Market (SMM) foresees pressure at the five and 10-day moving averages for the contract. It says LME aluminium is likely to trade at US$2,210-2,240 per tonne range on Friday, February 2. As on February 1, LME official cash buyer aluminium price (Bid Price) stands at US$2,217.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,218 per tonne, 3M Bid...
As Finance Minister Arun Jaitley starts to present Union Budget 2018 today at Parliament, Indian aluminium sector waits eagerly to see if its wishes and demands are fulfilled. The aluminium industry wants duty on essential raw materials of aluminium production like alumina and coal tar pitch to be reduced and policies to be implemented that would equate import duty on aluminium scrap with that on the primary metal. Here’s a list of wishes of the Indian Metals & Mining industry from Union Finance Ministry: 1) Decrease in basic customs duty on coking coal across grades 2) Decrease in export duty on iron ore above certain grade levels 3) Hike basic customs duty on aluminium scrap to protect domestic industry 4) Accelerate minerals exploration The aluminium industry (represented by Aluminium...
According to Shanghai Metal Market data, China’s social inventory of primary aluminium including SHFE warrants stood at 1.76 million tonnes on Thursday February 1, slightly down by 2,000 tonnes from a week ago. Logistics constraints have impacted some deliveries in January. However, SMM learned that the situation will gradually improve in February. Average Aluminum Ingot prices slightly dropped today to stand at RMB 14,160 per tonne. According to data released by the National Development and Reform Commission (NDRC) on Wednesday January 31, China’s production of 10 nonferrous metals amounted to 53.78 million tonnes in 2017, up 3% from a year ago. The annual growth was up 0.5 percentage point from the previous year. Aluminium output was up 1.6% to 32.27 million tonnes. The prices are...
Vedanta Limited has announced its unaudited consolidated results for the third quarter ended 31 December, 2017. The company has reported 19 per cent increase year-on-year in revenue in the fiscal third quarter. Mr. Kuldip Kaura, Chief Executive Officer, Vedanta Ltd, said: "We delivered a robust quarter with EBITDA significantly higher y-o-y and q-o-q, with our EBITDA margin remaining strong. Our ramp-up plans across our well invested assets are on track, and are delivering industry leading growth." The company’s aluminium production increased 40 per cent YoY in the third quarter ended 31 December, 2017, with an exit run-rate of 1.8 million tonnes per annum. Revenue increased to INR 24,361 crore on account of higher commodity prices, ramp-up at aluminium business, and higher volumes at...
Aluminium prices on London Metal Exchanges stayed flat with a marginal dip as global manufacturing growth provided support. Manufacturing activity in China and Japan expanded in January resulting in raised output and increased employment supporting a strong recovery in the Asian market. LME aluminium closed at US$2,224.50 per tonne on Wednesday, January 31, down from US$2,229 per tonne on Tuesday, January 30. Shanghai Metals Market (SMM) forecasts that LME aluminium may trade at US$2,195-2,220 per tonne on Thursday, February 1. As on January 31, LME official cash buyer aluminium price (Bid Price) stands at US$2,224 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,224.50 per tonne, 3M Bid Price is US$2,221 per tonne, 3M Offer Price is US$2,222 per tonne, Dec1 Bid...
