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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Rio Tinto’s aluminium production for the fourth quarter of 2017 stood at 887,000 tonnes, 3 per cent lower compared with the corresponding period of 2016. Aluminium production in 2017 was one per cent lower than 2016. Rio Tinto produced 3.6 million tonnes of aluminium. “Strong operational performances were achieved across most sites, reflecting the implementation of productivity improvements across the business,” it said. “This was offset by production curtailment at the Boyne smelter due to higher power prices in Queensland, and by lower production at the non-managed Sohar smelter due to a power interruption incident in the third quarter.” “Average realised aluminium prices in 2017 were $2,231 per tonne. This includes a $221 per tonne premium for value-added product, which represented 57...
The world’s biggest aluminium producer China Hongqiao Group Limited will raise HK$6.24 billion (US$800 million) through sale of shares to reduce debt, Reuters reported Tuesday. The Group having US$16.6 billion (approximately) liability will use 70 per cent of the raised money to pay off debt this year. The balance amount will be used as working capital, it said in a filing. The decision to sell shares comes after China Hongqiao faced a defamatory issue last year when Emerson Analytics, a market research group, said in their report that the company had exaggerated its profits and understated costs. China Hongqiao was asked to suspend trading for almost a year, after which it rebounded back with 28.3 per cent rise in share price. As per filing, China Hongqiao Holdings Ltd, China Hongqiao’s...
LME aluminium traded higher by 0.9 per cent at US$2,233 per tonne on Monday, January 15, as demand remained high. The light metal contract later came down to close at US$2,227.50 per tonne, still higher than previous week’s close at US$2,215 per tonne. Shanghai Metals Market forecasts that LME aluminium will trade higher in the range of US$2,220-2,250 per tonne on Tuesday, January 16 supported by positive fundamentals. As on January 15, LME official cash buyer aluminium price (Bid Price) stands at US$2,227 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,227.50 per tonne, 3M Bid Price is US$2,231 per tonne, 3M Offer Price is US$2,231.50 per tonne, Dec1 Bid Price is US$2,2295 per tonne, and Dec1 Offer Price is US$2,300 per tonne. LME aluminium opening stock stands...
India’s National Commodity & Derivatives Exchange Limited (NCDEX) has sought permission from the Securities and Exchange Board of India (SEBI) to launch options trading in aluminium. The online commodity exchange wants to introduce options trading in non-farm items including select base metals, NCDEX MD and CEO Samir Shah confirmed media. "Our main focus is on options now. We want to launch non-agri items especially nickel and aluminium. It will all depend on the Sebi's approval. We have sought permission," Shah told PTI recently. Sebi has given a nod to futures option trading as underlying. According to Investing Answers , an options contract is an agreement between a buyer and seller that gives the buyer the option and/or the right to buy or sell a particular asset at a future date (any...
Emirates Global Aluminium, the largest aluminium company in the United Arab Emirates has announced that a record 34,419 ideas were submitted by individual employees through its suggestion scheme in 2017, leading to AED 36 million in cost savings in the year. EGA has been operating an employee suggestion scheme since 1981, based on the belief that individuals related to a work process are the best people to spot required improvements in the process and implement simple solutions. The cost savings from such suggestions are shared with the concerned employees who propose them and the best suggestions are recognized and implemented in the company. Abdulla Kalban, EGA’s Managing Director and Chief Executive Officer, said: “Continuous improvement is a foundation of our global success and we...
After a brief marginal, mid-week drop, LME aluminium rose 1.1 per cent to reach a 10-day peak at US$2,239 per tonne on Friday, January 12. The consistent rise in the light metal prices can be partly viewed as a result of the erosion in global aluminium supply caused due to output cuts in China. LME aluminium closed at US$2,215 per tonne on Friday, up from US$2,179 per tonne on Thursday, January 11. Shanghai Metals Market analysis suggests that LME aluminium will rise higher at US$2,210-2,240 per tonne on Monday, January 15, due to the closure of Alcoa’s plant and anti-dumping factors. As on January 12, LME official cash buyer aluminium price (Bid Price) stands at US$2,214 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,215 per tonne, 3M Bid Price is US$2,222.50...
On an operational development, ABI Becancour smelter at Quebec locked out 1,030 unionized employees at around 3 a.m. Thursday. The smelter plans to use non-unionized workers to maintain operations at one of three production lines. The smelter, located halfway between Montreal and Quebec City has the capacity to produce about 430,000 tonnes of aluminium annually. The smelter is 75 per cent owned by Alcoa and 25 per cent by Rio Tinto. The move came after members of United Steelworkers Local 9700 voted more than 80 per cent to reject the company’s final contract offer. The union disagreed to a company plan to introduce a new member-funded pension plan instead of a defined benefit plan and some issues regarding employee transfers and turnover. According to Jean Simard, the head of the...
According to a new figures released by the Statistics Centre Abu Dhabi (Scad) and published by Emirates news agency WAM, Abu Dhabi’s aluminium trade increased 58.6 per cent to $1.3 billion (AED4.6 billion) in the first ten months of 2017, from $790 million (AED2.9 billion) during the same period in 2016. Aluminium exports rose 82.4 per cent to $1.1 billion (AED3.96 billion) from $600 million (AED2.17 billion), while imports dropped to $152 million (AED560 million) from $196 million (AED720 million) in 2016. Abu Dhabi’s trade in aluminium and copper reached $3.5 billion (AED12.8 billion) from January to October, up 29.2 per cent from $2.7 billion (AED9.9 billion) during the corresponding period in 2016. Abu Dhabi’s trade in aluminium and copper accounted for 9.5 percent of the emirate’s...
LME aluminium registers another gain after continuous drop and according to Shanghai Metals Market; the light metal contract would test the effectiveness of the five-day moving average following a slump, trading at $2,170-2,190/t today. LME aluminium contract gained from US$ 2159 per tonne on January 10 to close at US$ 2179per tonne on January 11. As on January 11, LME official cash buyer aluminium price (Bid Price) stands at US$ 2178per tonne, cash seller & settlement aluminium price (Offer price) is US$ 2179 per tonne, 3M Bid Price is US$ 2190 per tonne, 3M Offer Price is US$2191 per tonne, Dec1 Bid Price is US$ 2262 per tonne, and Dec1 Offer Price is US$2267 per tonne. LME aluminium opening stock stands at 1088325 tonnes, off from the stock on last closing. Total Live Warrants stands...
Rio Tinto has confirmed through a press release that it has received a binding offer from Liberty House to acquire Rio Tinto’s Aluminium Dunkerque smelter in northern France. The deal is finalised for $500 million, subject to final adjustments. Rio Tinto will launch a consultation process with employees, relevant European works councils and other stakeholders in relation to the bid. Rio Tinto expects to complete the sale of Aluminium Dunkerque by Q2 2018, on the completion of this consultation process. Commenting on the offer, Rio Tinto Aluminium chief executive Alf Barrios said “The binding offer for the sale of Aluminium Dunkerque represents the best option for the future development of the site while also delivering value for Rio Tinto as we continue to streamline our portfolio....
SMM has published the latest output data from the major Chinese producers of alumina and aluminium along with other base metals and report shows an increase in aluminium production month on month despite the winter capacity cut. SMM observes that despite the supply-side reform and winter cuts last year, recovered and newly-added capacity made up for the suspended capacity at Shandong Weiqiao, Shandong Xinfa, Xinjiang Xiwang, Xinjiang Jiarun and Inner Monglia Jinlian, keeping the output high in December. The following table shows the latest output for alumina and aluminium in December and a forecast for January. According to the preliminary data for aluminium production for the month of December, the output stands at 3 million tonne; up 1.7% from December 2016 and up 3.2% from November...
LME aluminium shows some positive gain after continuous drop and sees pressure at the five-day moving average and is expected to trade at $2,165-2,195/t. The light metal contract gained from US$ 2143.50 per tonne on January 9 to close at US$ 2159 per tonne on January 10. As on January 10, LME official cash buyer aluminium price (Bid Price) stands at US$ 2158.50per tonne, cash seller & settlement aluminium price (Offer price) is US$ 2159 per tonne, 3M Bid Price is US$ 2172.50 per tonne, 3M Offer Price is US$2173 per tonne, Dec1 Bid Price is US$ 2247 per tonne, and Dec1 Offer Price is US$2252 per tonne. LME aluminium opening stock stands at 1090525 tonnes, off substantially from the stock on last closing. Total Live Warrants stands at 848825 tonnes and Cancelled Warrants 241700 tonnes. The...
Aluminium Bahrain B.S.C. (Alba) has reported sales volume of 978,195 tonnes in 2017, up 0.4 per cent Year-over-Year (YoY). The company had achieved total sales volume of 974,014 tonnes in 2016. For the fourth quarter of 2017, sales volume rose 8 per cent to reach 277,567 tonnes compared with 256,445 tonnes for the same period in 2016. The company has produced 981,016 tonnes in 2017, up by 1% Year-over-Year (YoY), versus 971,420 tonnes in 2016. For the fourth quarter of 2017, production increased 9 per cent YoY to 274,147 tonnes, from 250,670 tonnes for the same period in 2016. Alba said that the company has managed to close 2017 with its Value-Added (VA) Sales averaging 57 per cent of total shipments versus 56 per cent in 2016. Chief Executive Officer, Tim Murray said: “Despite 2017...
Rio Tinto has accepted a purchase offer from UK industrialist Sanjeev Gupta for its Dunkerque aluminium smelter, Europe’s biggest aluminium producer. According to the sources, the purchase would be announced today unless there were any unforeseen circumstances. This is the latest investment by Mr Gupta’s company Liberty House that has been expanding its business operations by acquiring a number of assets in the metal and mining, shipping, recycling, banking and automotive sector in last four years. Mr Gupta was dubbed the ‘Man of Steel’ in a recent BBC documentary on his deal-making exploits. It was rumoured last month that Mr Gupta met with French president Emmanuel Macron earlier in the year to talk about his interest to invest in the Dunkerque smelter, located in northern France. The...
LME aluminium continued to drop and the 20-day moving average may not provide enough support today. The initial positive trend is slowing down and market sentiments are being driven by concern over the futility of China’s output cut and the growing aluminium output. The light metal contract plunged from US$ 2177.50 per tonne on January 8 to close at US$ 2143.50 per tonne on January 9. As seen by Shanghai Metals Market, a rising US dollar would accelerate the drop of LME aluminium further. The price, according to Shanghai Metals Market is expected to trade at $2,140-2,165/t. With the slowing down of US dollars, other base metals are moving up while aluminium is the only metal that ended lower. As on January 9, LME official cash buyer aluminium price (Bid Price) stands at US$ 2143per tonne,...
National Aluminium Company Limited (NALCO) has presented Corporate Plan (2017-2032) that foresees the company to reach a turnover of INR 31,248 crore and a PAT of INR 3,010 crore by 2032. NALCO said that the new plan expects the company to reach a turnover of INR 18,171 crore with PAT of INR 1,693 crore by 2024 with enhancement of the smelting capacity to 1.1 million tons & refining capacity to 3.27 million tons. The plan also envisages backward integration to CT Pitch & Caustic Soda; forward integration to Extrusion, Foils & Castings; expanding value addition capacities in Wire rods & Rolled Products; diversifying into commercial mining in Bauxite & Chromite, Conductors & Lithium-Ion batteries, it said. The Corporate Plan was released by Shri Arun Kumar, IAS, Secretary, Ministry of...
The Aluminium Federation, the trade body for the UK aluminium industry, has announced the appointment of a new chief executive. Tom Jones joins the organisation from MMC Hardmetal UK, part of the Mitsubishi Materials group, where he was general manager. Tom has more than 35 years experience of working in manufacturing. The Aluminium Federation has grown its membership in recent years, to around a hundred companies. Members include Arconic, Bridgnorth Aluminium, Novelis, Hydro and Liberty British Aluminium. The Aluminium Federation manages the All Party Parliamentary Group for the UK Aluminium Industry, and is a founder member of UK Metals Council. Aluminium Federation President Giles Ashmead said: “We are delighted that Tom has joined the Federation to lead our team in driving forward our...
Primary aluminium ingot price is on a downward curve in China as the positive vibes in the last week of December is fading away and the market is getting concerned about the climbing inventory and the impact it is going to have on the aluminium prices in the first quarter of 2018. Despite the struggle to stay up in the face of higher inventory and lower raw material prices, Average A00 ingot price dropped today to stand at RMB 14,700 per tonne and expected to move within a range of RMB 14,680-14,720. Spot discount will range within RMB 170-130 per tonne today. Aluminium ingot prices registered a drop in all individual markets in China except the South China market. The following table shows the trend in ingot price in the domestic markets: Spot Alumina price in South China market has...
