1. Macro perspective The US-Iran conflict entered its second week. After the escort coalition intervened, traffic through the Strait of Hormuz partially recovered, but war risk insurance rates remained elevated. Brent crude pulled back from a high of USD 101 to consolidate around USD 95, with energy cost support weakening from earlier levels but not yet fading. The US Fed delivered a 25bp rate hike at its September FOMC meeting, and the dot plot indicated one more hike may still occur this year. Chair Warsh struck a hawkish tone in his post-meeting remarks, and the US dollar index held at a 13-month high. Next week, attention turns to China's official PMI on September 30, as well as US PCE and non-farm payrolls data during the National Day holiday—with China's market closed for seven days...
According to data released by the General Administration of Customs of the People's Republic of China (GACC), China's total primary aluminium imports reached 185,500 tonnes in August 2026, down 14.65 per cent year-on-year but up 0.16 per cent month-on-month. Total imports for January-August amounted to 1.66 million tonnes, a decrease of 3.41 per cent year-on-year. The 14.65 per cent year-on-year decline in August imports, coupled with a nearly flat month-on-month performance, indicates that imports have not collapsed but rather maintained a steady inflow. In August, China's total primary aluminium exports stood at 21,900 tonnes, down 14.53 per cent year-on-year and 30.48 per cent month-on-month. Cumulative exports for January-August totalled 167,500 tonnes, up 9.26 per cent year-on-year....
Grow with
AL Circle
After a plunge yesterday from RMB 13,300 per tonne to RMB 13,270 per tonne, the A00 aluminium ingot price decides to remain unchanged today, on February 12, Shanghai Metals Market learned. The average prices are expected to range between RMB 13,250 per tonne and RMB 13,290 per tonne, with spot discounts to settle at RMB 80 per tonne and RMB 40 per tonne. The average spot discount has increased by RMB 40 per tonne to stand at RMB 60 per tonne. But in some of the major markets, the A00 aluminium ingot price has recorded a rise such as in Wuxi in the east Chinese market where the price is up by RMB 10 per tonne to RMB 13,280 per tonne. However, the price in Hangzhou in the east has shown restraint, while in the south and north, the prices have increased by RMB 20 per tonne and RMB 45 per...
According to Shanghai Metals Market, spot aluminium transactions across eastern and southern China remained poor this morning, the first trading day after the Chinese New Year break. The poor trading occurred primarily because many downstream consumers were not back from the holidays yet. The front-month aluminium contract on the Shanghai Futures Exchange traded lower in the morning. Spot discounts in Shanghai, against the SHFE 1902 contract, were heard at RMB 60 per tonne to RMB 50 per tonne, in contrast to RMB 30 per tonne to RMB 20 per tonne on the last day February 1, before the SMM went on for the New Year break. Spot transactions in Shanghai and Wuxi were at RMB 13,260 per tonne to RMB 13,280 per tonne while that in Hangzhou at RMB 13,270 per tonne to RMB 13,290 per tonne. Traded...
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, grew 13.4 per cent over a week-long Chinese New Year Holiday, as on today, February 11. Compared to 1.378 million tonnes as of January 31, the primary aluminium inventories today came in at 1.562 million tonnes, up 184,000 tonnes. Over the same period, stocks in Wuxi and Hangzhou grew from 513,000 tonnes to 578,000 tonnes, up 13 per cent while that in Shanghai rose from 299,000 tonnes to 310,000 tonnes, up about 4 per cent. In other markets like Nanhai and Guangdong, and Gongyi and Henan, the inventories increased 30 per cent and 12 per cent to stand at 274,000 tonnes and 142,000 tonnes respectively. The below chart indicates the current...
National Aluminium Company Limited (NALCO), announced its financial results for the third quarter ended December 2018 and up to end third quarter 2018-19. India’s leading manufacturer and exporter of alumina and aluminium posted a higher than expected operating profit of INR589 crore in the 3rd quarter of 2018-19, registering 80% growth over the same period of last year. Net profit in Q3 stood at INR 302 crore. During the first nine months of the current fiscal, net profit increased stood at INR1499 crore, up 38% year on year, from INR1085 crore during the comparable period of the previous fiscal. Net sales rose 32% YoY to INR8644 crore. NALCO achieved record growth in production in all fronts. The achieved production of 55.39 lakh tonnes of bauxite during the first nine months of the...
The Shanghai Metals Market opened today after almost a week-long Chinese New Year Holiday from February 4 to February 10 with a drop in A00 aluminium ingot price. Registering a dip by RMB 30 per tonne, the ingot price today, on February 11, stood at RMB 13,270 per tonne, according to the data found by SMM. The average prices are expected to range between RMB 13,250 per tonne and RMB 13,290 per tonne, with spot discounts to settle at RMB 120 per tonne to RMB 80 per tonne. The average discount thus found dipped by RMB 40 per tonne to RMB 100 per tonne. This marked the second decline this month as the price of the ingot recorded a reduction from RMB 13,390 per tonne to RMB 13,300 per tonne on February 1, just before the SMM went on the Chinese New Year break. The aluminium ingot price in the...
The US dollar rose against a basket of currencies last week, taking the index to a five-week high of 96.7. LME base metals traded mixed last week. Benchmark aluminium price on London Metal Exchange edged higher on Friday, February 8. The light metal contract closed at US$1865 per tonne, up 0.13 per cent from US$1862.5 per tonne on Thursday, February 7. LME aluminium is expected to trade at US$1870-1900 per tonne today. As on February 8, LME aluminium cash (bid) price stood at US$ 1864.50 per tonne, LME official settlement price stands at US$ 1865 per tonne; 3-months bid price stands at US$ 1889 per tonne, 3-months offer price is US$ 1889.50 per tonne; Dec 19 bid price stands at US$ 2020 per tonne, and Dec 19 offer price stands at US$ 2025 per tonne. The LME aluminium opening stock stood...
Benchmark aluminium price on London Metal Exchange declined 1.27 per cent from the previous day and closed at US$ 1862.50 per tonne on Thursday, February 7.This marks a decline two days in a row after a rise from US$ 1840 per tonne to US$ 1896.5 per tonne on February 5, 2019. As on February 7, LME aluminium cash (bid) price stood at US$ 1862 per tonne, LME official settlement price stands at US$ 1862.50 per tonne; 3-months bid price stands at US$ 1890 per tonne, 3-months offer price is US$ 1891 per tonne; Dec 19 bid price stands at US$ 2032 per tonne, and Dec 19 offer price stands at US$ 2037 per tonne. The LME aluminium opening stock stood at 1291800 tonnes. Live Warrants totalled at 673875 tonnes, and Cancelled Warrants were 617925 tonnes. LME aluminium 3-months Asian Reference Price is...
The world’s second largest aluminium company by primary production output - Rusal once again proves its potential by recording a year-on-year growth in aluminium production in 2018. Even after going through critical conditions led by United States sanctions, the Russian aluminium giant produced 1.3 per cent more aluminium totalling 3.753 million tonnes in the noted year. Per the report, Rusal’s aluminium production in the fourth quarter of 2018 increased in comparison with the third quarter by 0.4 per cent to 943,000 tonnes. Last year, although the average aluminium price went up by 7.3 per cent to US$ 2,259 per tonne, the price in the fourth quarter lowered 7 per cent to US$2,115 per tonne. The London Metal Exchange (LME) said in a statement last month that the LME lifted restrictions on...
Aluminium Bahrain B.S.C. (Alba) released its Full-Year and Fourth Quarter of 2018 results on Thursday February 07, 2019.The company reported a net loss of BD 17.5 million (US$ 47 million) in Q4 2018, down by 175% from a net Income of BD 23.4 million (US$ 62.4 million) in Q4 2017. Alba reported a gross loss of BD 7.4 million (US$ 20 million) versus a gross profit of BD 37.3 million (US$ 99.2 million) in Q4 2017, down by 120% YoY. Total Sales/Revenues stood at BD 211.5 million (US$ 562.6 million) in Q4 2018, down 16% YoY, compared to BD 252.7 million (US$ 672.2 million) in Q4 2017. Alba’s top-line and bottom-line in Q4 were impacted primarily by lower sales’ revenue and higher alumina prices. In 2018, net income stood at BD 59.8 million (US$ 158.9 million), down by 35% YoY, compared to BD...
Hydro’s underlying EBIT for Primary Metal declined from NOK 1,377 million in Q4 2017 to a loss of NOK 677 million in Q4 2018. This was mainly due to higher alumina and carbon costs, as well as lower sales volumes. Underlying EBIT for Metal Markets improved from NOK 185 million in 2017 to NOK 275 million in 2018, mainly due to increased results from the remelters and positive contributions from currency and inventory valuation effects, partly offset by lower results within sourcing and trading activities. “For 2019, we expect the global primary aluminium market to be in deficit, although increasing macro uncertainty could lead to softening demand growth,” President and CEO Svein Richard Brandtzæg said. Underlying EBIT for Rolled Products decreased from NOK 95 million in 2017 to a loss of...
Aluminium prices softened by 0.29 per cent to Rs 136 per kg in futures trade Thursday as speculators cut bets amid subdued demand at domestic spot market. At the Multi Commodity Exchange, aluminium for delivery in February eased by 40 paise, or 0.29 per cent, to Rs 136 per kg in a business turnover of 4,244 lots. Similarly, the metal for delivery in March was trading lower by 35 paise, or 0.23 per cent, at Rs 149.95 per kg in 816 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.
After lying idle for a decade, Aluminium Smelter Company of Nigeria (ALSCON), located at Ikot Abasi, Akwa Ibom State, is all set to start its operations, said the Bureau of Public Enterprises (BPE). On February 4, local media reported that Nigeria’s President Muhammadu Buhari will soon inaugurate the domestic smelting firm, allowing it to begin production once more. According to Nigeria’s Director General of the Bureau of Public Enterprises Alex Okoh’s statement on Sunday, the BPE, along with other industry interests, will begin by addressing the problem of consistent, affordable supplies of natural gas to the firm. He explained, “Upon the resolution of the gas price and supply issues, a new agreement will be signed in line with the current realities.” He also added, “It will also take...
Benchmark aluminium price on London Metal Exchange dropped 0.53 per cent to US$ 1886.5 per tonne on Wednesday, February 6, from US$ 1896.5 per tonne on Tuesday. As on February 6, LME aluminium cash (bid) price stood at US$ 1886 per tonne, LME official settlement price stands at US$ 1886.50per tonne; 3-months bid price stands at US$ 1912 per tonne, 3-months offer price is US$ 1912.50 per tonne; Dec 19 bid price stands at US$ 2053 per tonne, and Dec 19 offer price stands at US$ 2058 per tonne. The LME aluminium opening stock stood at 1292175 tonnes. Live Warrants totalled at 724675 tonnes, and Cancelled Warrants were 567500 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1930.50 per tonne. SME and SHFE Aluminium Price Trend Shanghai Futures Exchange is closed for...
While speaking at the concluding ceremony of INCAL-2019, Narendra Singh Tomar, union mines minister said that foreign direct investment (FDI) inflows raised in the aluminium industry led by the policy of allowing 100 per cent FDI in automatic route for mining and exploration in metal and non-metals sector. He further said the government would continue to develop and encourage greater FDI in the aluminium sector as a means to attract more funding for aluminium projects. “The Mines Ministry is committed to the development of the aluminium sector and will look into the recommendations that come out of INCAL 2019. Mining constitutes an important contributor to the economy. During the last three years, the sector has witnessed major policy interventions to promote exploration and enhance...
LME aluminium contract closed at US$1896.50 per tonne on Tuesday, February 5, up 3.07 per cent from US$ 1840 per tonne on Monday. As on February 5, LME aluminium cash (bid) price stood at US$ 1896 per tonne, LME official settlement price stands at US$ 1896.50 per tonne; 3-months bid price stands at US$ 1922.50 per tonne, 3-months offer price is US$ 1923 per tonne; Dec 19 bid price stands at US$ 2070 per tonne, and Dec 19 offer price stands at US$ 2075 per tonne. The LME aluminium opening stock increased to 1298150 tonnes. Live Warrants totalled at 724675 tonnes, and Cancelled Warrants were 573475 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1922.50per tonne. China market still remains closed for the Lunar New Year Holiday.
With three major smelting companies like Alcan, Century Aluminium, and Alcoa, aluminium is one of the major materials produced and exported by Iceland. As of Q3 2017, aluminium had reportedly accounted for 14 per cent of Iceland’s total exports of goods and services. {newsStudioGallery} Our third-party data shows Iceland’s exports of aluminium (both alloyed & non-alloyed) is recording a year-on-year rise for the past three years. This year, however, the country’s estimated volume of exports is estimated to remain flat at 1 million tonnes. Last year in 2018, Iceland had exported the same amount of aluminium, compared to 978,067 tonnes in 2017. Thus, this shows the country’s exports in 2018 grew 3 per cent from 2017. In 2016, on the other hand, Iceland’s aluminium exports were at 861,053...
LME aluminium contract closed at US$1840 per tonne on Monday, February 4, down from US$ 1872.5 per tonne on Friday. As on February 4, LME aluminium cash (bid) price stood at US$ 1839.50per tonne, LME official settlement price stands at US$ 1840 per tonne; 3-months bid price stands at US$ 1868 per tonne, 3-months offer price is US$ 1868.50 per tonne; Dec 19 bid price stands at US$ 2015 per tonne, and Dec 19 offer price stands at US$ 2020 per tonne. The LME aluminium opening stock increased to 1297150 tonnes. Live Warrants totalled at 770900 tonnes, and Cancelled Warrants were 526250 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1882.50 per tonne. Shanghai Futures Exchange remains closed for the Lunar New Year Holiday. Trading will resume on Monday, February 11.
Alcoa Corporation has appointed John Slaven as Executive Vice President and Chief Strategy Officer. Slaven will be responsible for supporting Alcoa’s overall strategy and will oversee the corporate and business development functions, global supply chain, and energy development. Harvey said: “John has extensive experience in the metals and mining business, including global experience in several commodities and industry sectors across the full aluminium value chain.” “His experience spans from early stage exploration through project development and operations, to sales and marketing and end users, which will be an important asset to our Company as we continue to pursue our strategic priorities and multiyear capital allocation framework.” From 2002 through early 2006, Slaven worked for Alcoa...
