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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The slow-paced uptrend in LME aluminium is continuing. The light metal contract having risen from the monthly low of US$2,062 per tonne on November 21, neared US$2,110 per tonne yesterday. It closed at US$2,109.50 per tonne after night trading on Monday, November 27. Current price scenario, raw material price trends, and weak US dollar index suggest that LME aluminium will keep volatile within a narrow range in the short term. In the mid-term, it may again stage a reversal and move downward below US$2,100 per tonne mark. As on November 27, LME official cash buyer aluminium price (Bid Price) stands at US$2,109 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,109.50 per tonne, 3M Bid Price is US$2,123 per tonne, 3M Offer Price is US$2,124 per tonne, Dec1 Bid Price...
Rio Tinto has further strengthened its partnership with China’s Tsinghua University, extending the tenure of the Tsinghua-Rio Tinto Joint Research Centre for Resources, Energy and Sustainable Development. Rio Tinto and Tsinghua University established the Joint Research Centre in 2012 to bring together leading experts from China and around the world to study, generate and share ideas and best practice for sustainable development. Rio Tinto chief executive J-S Jacques and Tsinghua University president Qiu Yong witnessed the signing of the agreement to extend the partnership at a ceremony today in Beijing. Rio Tinto Corporate Relations Group executive Simone Niven and Tsinghua University vice president Xue Qikun signed the agreement. Rio Tinto chief executive J-S Jacques said “Continuation...
LME aluminium has edged further up after the marginal gains last week. Buoyed by a declining dollar index, the light metal contract rose from US$2,090 per tonne on Thursday, November 24 to US$2,104 per tonne on Friday, November 27. However, since aluminium raw material prices are trending low (alumina spot and bauxite prices dropped by 12-20 yuan per tonne in China major markets), volatility will continue in the near term. Any rise in LME aluminium this week will be limited. As on November 24, LME official cash buyer aluminium price (Bid Price) stands at US$2,103 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,104 per tonne, 3M Bid Price is US$2,119 per tonne, 3M Offer Price is US$2,120 per tonne, Dec1 Bid Price is US$2,167 per tonne, and Dec1 Offer Price is...
Alcoa Corp and the United Steelworkers have agreed to resume contract talks with a government-appointed conciliator, the union said on Thursday, averting a potential strike at the Becancour, Quebec aluminum smelter. The collective agreement for 1,030 unionized workers expired late Wednesday night, putting workers in a legal strike position. A majority of workers had earlier voted to reject the company’s contract offer and give their union a strike mandate. The contract included a two-tier pension plan that is less favorable to new workers and demanded concessions on seniority rights, the union said. Becancour produces 430,000 metric tonnes of aluminum annually, Alcoa said. Combined with the company’s Deschambault and Baie-Comeau smelters in Quebec, total annual production capacity is...
LME aluminium gained slightly after the US dollar index hit one-month low following the minutes from the Federal Reserve’s last FOMC meeting. The light metal contract inched higher from US$2,085 per tonne on Wednesday, November 23 to US$2,090 per tonne on Thursday, November 24. JP Morgan in its recent report on global commodity market said that aluminium prices will rise, and so long-term hold is recommended. For the short term, any rise in LME aluminium will be limited within a narrow range. As on November 23, LME official cash buyer aluminium price (Bid Price) stands at US$2,088 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,090 per tonne, 3M Bid Price is US$2,103 per tonne, 3M Offer Price is US$2,103.50 per tonne, Dec1 Bid Price is US$2,150 per tonne, and...
Unionized workers at Alcoa Corp’s Canadian aluminum smelter in Becancour, Quebec have rejected the company’s contract offer and adopted a strike mandate, the United Steelworkers said on Wednesday. The collective agreement for 1,030 unionized workers expires at 11:59 EST (0459 GMT) Wednesday, after which workers will be in a legal position to strike and Alcoa will have the right to lock them out, the union said. Becancour produces 430,000 metric tonnes of aluminum annually, Alcoa said. Combined with the company’s Deschambault and Baie-Comeau smelters in Quebec, total annual production capacity is nearly 1 million metric tonnes of ingots, plates and billets, Alcoa said. Alcoa, which owns 74.95 percent of Becancour with Rio Tinto Alcan holding 25.05 percent, said in a statement that...
After following a severe downward curve for four days, aluminium prices in China have seen some upward movement today. As updated by Shanghai Metals Market, average A00 aluminium ingot price has gained RMB 40/t on November 23 to stand at RMB 14,800/t from RMB 14,760/t yesterday. The slight rise in aluminium A00 Aluminum prices has been reflected in all other individual markets in China. A00 ingot prices have registered an increase from RMB 20/t to RMB 70/t across all markets. In the spot market aluminium is trading at a discount of RMB 160-120 /tonne. The little gain in A00 ingot prices in the individual markets can be seen in the table below: As forecasted by SMM, bear’s closing out could prevent SHFE Aluminium from dropping in the short term. In the short focus will be on whether SHFE...
LME aluminium edged slightly higher on Wednesday, November 22, despite muted trading ahead of the Thanksgiving holiday in the United States. The light metal contract closed at US$2,085 per tonne yesterday, up from US$2,062 per tonne on Tuesday, November 21. The fact that the demand growth has slowed down as market participants anticipated supply uncertainties due to China winter capacity cuts is prompting analysts to maintain a negative near-term outlook for LME aluminium. As on November 22, LME official cash buyer aluminium price (Bid Price) stands at US$2,084.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,085 per tonne, 3M Bid Price is US$2,102 per tonne, 3M Offer Price is US$2,102.50 per tonne, Dec1 Bid Price is US$2,148 per tonne, and Dec1 Offer Price is...
Aluminium and its raw materials are on a downward curve in China following winter capacity cut drive. Consumption is low and downstream purchasing is slow on expectation of lower supply. A00 ingot price is experienced the biggest drop in recent time in November. The average price of A00 Aluminium ingot stood at RMB 14,760/t today dropping further from RMB 14,860/t yesterday. The price is expected to range within RMB 14,740 – 14,780 per tonne. In the SHFE downward tendency of aluminium price is expected to be in control in the short term. Main contracts of SHFE Aluminium will aim RMB 14,500 per tonne for next stage. The contract is expected to move between RMB14,750-14,950 per tonne. . In the spot market aluminium is trading at a discount of RMB 120-80 /tonne. The drop in aluminium A00...
LME aluminium slid further down. With the price support from two of aluminium’s key raw materials coal and alumina weakening, the light metal is unable to reverse the downtrend, even when aluminium stocks in LME warehouses are declining. On the other hand, demand growth has slowed down. All these factors are expected to weigh on LME aluminium prices in the near term. As on November 21, LME official cash buyer aluminium price (Bid Price) stands at US$2,060 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,062 per tonne, 3M Bid Price is US$2,078 per tonne, 3M Offer Price is US$2,080 per tonne, Dec1 Bid Price is US$2,125 per tonne, and Dec1 Offer Price is US$2,130 per tonne. LME aluminium Opening Stock or the LME aluminium inventory level stands at 1141700 tonnes,...
Press Metal Aluminium Holdings Berhad, the largest aluminium smelter and extruder in South East Asia, reported its financial performance for nine months ended 30 September 2017. The company said in a press release that they are now targeting to increase contribution of value-added products from 30 per cent to 50 per cent by end 2018. The company’s cumulative nine months core profit increased 57.3 per cent to RM452.6 million, from RM287.7 million a year ago due to additional production output generated by its Samalaju Phase 2 smelting plant and higher metal price. Tan Sri Paul Koon, Group Chief Executive Officer, commented: "We are encouraged by our continued growth year-on-year while operating in rising cost environment. We expect to benefit from the current higher metal price moving...
According to the data released by the International Aluminium Institute (IAI) and published by Shanghai Metals Market, the daily average primary aluminium production excluding China increased in October against September. The production increased to 70,300 tonnes in October 2017 compared to 70,000 tonnes in September 2017. Global production of primary aluminium outside China was 2.179 million tonnes in October, from 2.1 million tonnes in September. In China, the daily average aluminium production reduced to 82,100 tonnes in October, from 86,900 tonnes in September. China churned out 2.54 million tonnes of primary aluminium in October, from 2.606 million tonnes in September.
A00 ingot price has experienced the biggest drop in recent time today when the average price stood at RMB 14,860/t. As updated by Shanghai Metals Market, the primary ingot price registered a drop of RMB 250/t. The price is expected to range within RMB 14,840 – 14,880 per tonne. Aluminium price has been surging throughout 2017. The price rise was so far driven by supply-side reforms in China and environmental restrictions. On the other hand, increase in the price of prime raw materials like alumina and coal was another factor supporting the growth in aluminium price. As per SMM data, average full production cost of domestic refined aluminium enterprises in November 2017 is RMB 16,033 per tonne, up 4.5 on yearly basis. However, the recent downturn in aluminium price is mostly driven by drop...
Currently Aditya Birla Group remains the largest aluminium producer in India with a total combined capacity of 1.32 million tonne of aluminium by Aditya Aluminium and Hindalco. However, Vedanta is on the right track to touch 1.6 million tonne capacity mark this year surpassing Hindalco. Vedanta has recently reported record half yearly production of 753,000 tonnes, up 39% YoY. This was attributed to continued smelter ramp-up in Balco and Jharsuguda. The company reports a current run-rate of 1.6 tpy (excluding trial run production). The company, which produced 1.21 million tonne of aluminium across its two facilities in Jharsuguda and Korba in FY2017, is on course to clock an annual output of 1.6 million tonne this year. "As a group, we will be producing 1.6 million tonne of aluminium in...
LME aluminium is extending its declines. With the downward tendency of alumina and coal prices already setting in across China market, the light metal is unable to draw support and reverse the downtrend. From US$2,077 per tonne on November 17, LME aluminium has dropped further to US$2,067.50 per tonne after night trading on Monday, November 20. LME aluminium stocks are falling in tandem as well. This could affect regional aluminium premiums and spreads, market sources opine. Most of the global participants are of the view that there was room for further fall for LME aluminium in the near term. As on November 20, LME official cash buyer aluminium price (Bid Price) stands at US$2,067 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,067.50 per tonne, 3M Bid Price is...
LME aluminium failed to sustain last week’s gain as buying slowed down in the downstream verticals. The light metal contract which had inched higher to US$2,106 per tonne on Thursday, November 16, slid back to US$2,077 per tonne after night trading on Friday, November 17. Current price trend suggests that LME aluminium will keep volatile and continue trading within a narrow range in the short term. As on November 17, LME official cash buyer aluminium price (Bid Price) stands at US$2,076.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,077 per tonne, 3M Bid Price is US$2,095 per tonne, 3M Offer Price is US$2,095.50 per tonne, Dec1 Bid Price is US$2,140 per tonne, and Dec1 Offer Price is US$2,145 per tonne. LME aluminium Opening Stock or the LME aluminium...
Tajik Aluminium Company (TALСO) official representative Igor Sattarov said Friday that the Yunnan Construction Engineering Group that provides construction services in China will construct a facility for the production of aluminium in the western city of Tursunzoda. China will invest $1.6 billion in the manufacturing plant. The new facility, with an annual production capacity of 500,000 tonnes, will be completed in the next one-and-a-half years utilizing the most advanced technology to date. Earlier reports indicated that Tajikistan is considering increasing the production of primary aluminium in 2017. The country’s largest state-owned company TALСO produced 76,000 tonnes of aluminium during January- September 2017. The company decided to increase aluminium production to 300,000 tonnes by...
It will take time to reflect results of the implementation of production cut in the aluminium ingots inventory in the Chinese market. This is putting pressure in the aluminium prices by keeping it low. A00 ingot prices in China drop across two days after the winter capacity cut started on November 15. As updated by Shanghai Metals Market, average A00 aluminium ingot price has dropped RMB 130/t to RMB 15,230/t on November 17 from RMB 15,360/t yesterday. The price is expected to range within RMB 15210 – RMB 15250 per tonne. Chen Xuesen, vice director of strategic development Dept. of China Aluminum has recently said in a seminar in Fuzhou that Chinese government is researching on detailed measures to continue with aluminium output cut. Since China’s domestic aluminium demand is projected to...
