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
As reported by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.28 million tonnes as of Thursday December 20, down 15,000 tonnes from 1.295 million tonnes on December 13. As social warehouses saw more arrivals this week, the week-over-week decline in stocks was smaller than a 57,000 tonnes drop in the previous week. Compared to last Thursday, inventories in Wuxi and Jiangsu plunged by 12,000 tonnes to stand at 530,000 tonnes while that in Nanhai and Guangdong dropped by 13,000 tonnes to clock at 153,000 tonnes. Primary aluminium inventories in Hangzhou, Zhejiang and Tianjin increased by 11,000 tonnes and 3,000 tonnes and stood at 103,000 tonnes and 57,000 tonnes respectively.
2018 has been Aluminium Stewardship Initiative’s first year of implementation as an independent third-party certification program for the global aluminium value chain. The organization continued adding new and significant members to its certification program from all over the world and from different segments of the aluminium value chain while reiterating their commitments towards sustainability in aluminium. The organization increased outreach and engagement in China in 2018. 10 ASI Certifications have been issued in the first 12 months, covering all parts of the aluminium value chain. 18 educational modules from ASI are now available on YouTube and it has delivered training to more than 100 people. Daniel Weston, ASI Board Chair, says "ASI’s purpose is to make a difference, and that...
Alcoa Corporation announced that the company will cut half of the one operating potline’s 138,000 tonnes per year capacity at the Aluminerie de Bécancour Inc. (ABI) smelter in Québec, Canada. Alcoa owns 75 per cent of the aluminium smelter and Rio Tinto Alcan owns the remainder. The Bécancour aluminium smelter has nameplate capacity of 413,000 tonnes per year, across its three potlines. “Two of the facility’s potlines were curtailed on January 11, 2018, after union members rejected a proposed labor agreement for hourly employees. Since the lockout, ABI’s salaried employees have operated the one potline, performed maintenance, restored stability and improved metal quality, Alcoa said on Wednesday. Alcoa said the additional curtailment is necessary to ensure continued safety and maintenance...
The US Treasury announced on Wednesday, December 19, about its intention to remove sanctions against Oleg Deripaska-owned Rusal, which is the parent company of the Aughinish Alumina plant in Limerick. The Irish foreign ministry said in a statement that the Aughinish Alumina plant would be free from the threat of sanctions following a 30-day Congressional review period. The facility churns out a third of Europe’s alumina. The deadline for complying with the sanctions extended several times before, and now it is until January 21, 2019. The United States had declared earlier that the sanctions could be removed against Rusal if Russian billionaire Oleg Deripaska relinquished control of the company. So, the three Deripaska companies - Rusal, En+ and power firm EuroSibEnergo - have agreed to...
According to the latest update from the market, LME aluminium prices plunged to a 16-month low in early Asian trade on Thursday after the United States said it would withdraw sanctions on UC Rusal. The dollar came off its lows but remained weaker on Wednesday anticipating fewer interest rate hikes than it had in September. LME base metals mostly gained on Wednesday but aluminium fell some 1%. SHFE base metals traded higher across the board overnight and aluminium grew some 0.3%. The LME aluminium contract closed yesterday’s trading at US$ 1928 per tonne, much lower than last closing. LME fell to a low of US$1,906.5 per tonne from the 10-day moving average on Wednesday and closed at US$1,908 per tonne overnight. LME aluminium is likely to trade weaker at US$1,900-1,930 per tonne. As on...
The A00 aluminium ingot price again witnessed a drop today, on December 20.A00 aluminium Ingot price dropped by RMB 80 per tonne to RMB 13510 per tonne. The average prices today are expected to range between RMB 13490 per tonne and RMB 13530 per tonne, with spot discounts to settle at RMB 90 to RMB 50 per tonne. All the major markets in China also recorded a decline today. In the east Wuxi, the ingot price dropped by RMB 65 per tonne to RMB 13505 per tonne while in Hangzhou, the price declined by RMB 70 per tonne to RMB 13530 per tonne. In the south and north, the prices are hovering at RMB 13690 per tonne and RMB 13500 per tonne respectively. In south, the price is expected to range between RMB 13670 per tonne and RMB 13710 per tonne; in north, the price is expected to range between RMB...
China’s aluminium producers will hold a meeting in Guangxi to discuss falling prices of aluminium and slow demand for the metal, a Reuter report says. China being the world’s largest aluminium producer and consumer is concerned over the fact that aluminium smelters are struggling to turn a profit, even after significant output cuts The source said that the meeting is being called by China Nonferrous Metals Industry Association (CNIA), the representing organization for the industry. The meeting will be held on Friday in Nanning, the capital of Guangxi, to discuss the current market situation, the Reuter sources said. China Hongqiao Group, the world’s biggest aluminium producer is expected to be represented by the general manager of its sales unit. A second source, an executive at Aluminum...
Emirates Global Aluminium, the largest industrial company in the UAE outside oil and gas, and the aluminium sector account for 1.4 per cent of the UAE economy, according to an expert study. The sector also supported 60,950 jobs in 2017 with one in every 100 people working in the UAE is employed in the aluminium sector. His Excellency Sultan bin Saeed Al Mansoori, UAE Minister of Economy, said: “The UAE is proud of the leading national institutions it currently boasts across a number of vital sectors – chief amongst them the aluminium sector, which has contributed to the reputation and economic competitiveness the country enjoys on both the regional and international stage. The UAE today is considered one of the world’s largest exporters of this resource – one that is critical to a number...
On Monday, December 17, India yet again deferred enforcing retaliatory duties on 29 imported products from the US worth US$235 million by another 45 days. The implementation of the duty hike has been postponed until January 31, 2019, according to a notification by the finance ministry. In June, India announced its decision to hike import duty on 29 products from the US with effect from August 4, as a retaliatory measure against the Trump administration’s decision to levy additional tariffs on certain aluminium and steel products imported from India. The Indian government later postponed the implementation of the tariff to September 18, , and then again to November 2 and December 17. The higher import duty on the US products, if come into effect, will include apples,almonds and walnuts....
The US dollar fell to a week-low on Tuesday as investors unwound long bets on the currency, anticipating that the Federal Reserve could slow the pace of US interest rate hikes after this week's policymaking meeting. LME base metals traded lower on Tuesday and aluminium lost 0.5%. SHFE base metals performed similarly overnight. Aluminium edged down 0.2%. LME aluminium rebounded from US$ US$1,936 per tonne and closed at US$ 1940 per tonne on Tuesday. We see limited upside room for LME aluminium which is likely to trade at US$1,930-1,950 per tonne today. As on December 18, Tuesday, LME aluminium cash (bid) price stood at US$ 1939per tonne, LME official settlement price stands at US$ 1940 per tonne; 3-months bid price stands at US$ 1941 per tonne, 3-months offer price is US$ 1942 per tonne;...
After a rise by RMB 100 per tonne from RMB 13,540 per tonne to RMB 13,640 per tonne, the A00 aluminium ingot price recorded a plunge today, on December 19, by RMB 50 to stand at RMB 13,590 per tonne, Shanghai Metals Market found. The average prices are expected to range between RMB 13,570 per tonne and RMB 13,610 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne. In the east Wuxi, the ingot price dropped by RMB 60 per tonne to RMB 13,570 per tonne while in Hangzhou, the price declined by RMB 60 per tonne to RMB 13, 600 per tonne. At both the south and north markets, the ingot price plunged by RMB 40 per tonne to hover at RMB 13,760 per tonne and RMB 13,560 per tonne, respectively. As far as the input costs are concerned, the alumina spot price showed no...
Alro Slatina, Russian investors-controlled aluminium and aluminium alloy producer in south-eastern Europe, approved a US$70 million supplement to a credit facility contracted in 2015 through a US$ 167 million syndicated loan. Separately, Vimetco hired Swiss Capital for selling part of its 84 per cent stake in Alro, according to unofficial sources. The bank syndicate that finances Alro includes Raiffeisen Bank International, OTP Bank Romania, Banca Transilvania, Unicredit Bank, Garanti Bank, Intesa Sanpaolo Bank Romania, and Eximbank. Out of the total US$70 million, US$20 million would cover the company’s general and working capital needs and the rest US$50 million would finance programme-related investment expenditure for years 2018-19, as per the plan. In the first nine months of the...
Hindalco Industries Ltd has increased prices of its primary aluminium ingots today after it cut the prices of its primary aluminium ingot by more than 1% effective from Saturday, December 15. This price cut on Saturday came after the company had raised rates of its products by 2% earlier in the month. After the price cut on Saturday, December 15, the price for Vedanta aluminium ingot stood at INR 153,650 (USD 2215) per tonne. Today, Hindalco increased the price of primary ingots to INR 155,750 per tonne, registering an increase of 1.3 %. LME cash and three months prices have registered an increase today after the dollars plunged from an 18-month high, ahead of the Federal Reserve's policy meeting this week. LME aluminium three-months offer price stands at US$ 1925 per tonne today and...
Shares of Qatar Aluminium opened at 18.00 riyals on Sunday at Qatar Stock Exchange (QSE), 78 per cent above their initial public offer price of 10.10 riyals, capping a successful run for Qatar's biggest equity listing this year. Shares of Qatar Aluminium under the company name Qatar Aluminium Manufacturing Company or Qamco began trading on the Qatar Stock Exchange (QSE) from December 10, 2018. State-owned Qatar Petroleum sold 49 per cent of its shares in its subsidiary Qatar Aluminium Manufacturing Co (Qatalum) in late October in a in a public offering that raised roughly US$758 million. The IPO price included the offering and listing costs of 0.1 riyal per share. Qamco was formed by Qatar Petroleum with the aim of offering investors the opportunity to invest in Qatar’s aluminium sector....
Mubadala and Dubal Holding have signed an agreement with EGA to develop a state-of-the-art power block and a water desalination plant at EGA’s smelter at Jebel Ali in Dubai. The new facilities will improve power efficiency in aluminium smelting; reduce environmental emissions and natural gas consumption. EGA is jointly owned by Mubadala and Dubal Holding. Mubadala and Dubal Holding would establish a joint venture to develop the new facilities and EGA agreed upon buying the facility’s output for 25 years after commissioning.The JV will install a combined cycle power facility at EGA’s Jebel Ali site capable of generating over 600 megawatts of electricity. Siemens would install the UAE’s first combined cycle H-class gas turbine in this JV project. Eng. Suhail Mohamed Faraj Al Mazrouei, UAE...
The US dollar on Monday fell from an 18-month high, ahead of the Federal Reserve's policy meeting this week. LME base metals traded mixed on Monday and aluminium advanced close to 0.6%. SHFE base metals gained overnight with aluminium inching up some 0.1%. LME aluminium rebounded from a low of US$1,920 per tonne and closed at US$1,936 per tonne on Monday night. We see limited upside room for LME aluminium which is likely to trade at US$1,925-1,945 per tonne today. As on December 17, Monday, LME aluminium cash (bid) price stood at US$ 1937per tonne, LME official settlement price stands at US$ 1937.50 per tonne; 3-months bid price stands at US$ 1924 per tonne, 3-months offer price is US$ 1925 per tonne; Dec 19 bid price stands at US$ 1980 per tonne, and Dec 19 offer price stands at US$ 1985...
National Aluminium Company Ltd. (Nalco) has planned to invest INR 45,000 crore in brownfield and greenfield project expansion in the next few years, its Chairman and Managing Director Dr. Tapan Kumar Chand said. Nalco will invest around INR25,000 crore in brownfield expansions, which include additional one million tonne alumina refinery capacity, increasing of the smelter’s capacity by five lakh tonnes at Angul and boosting of captive power plants by addition of two units of 660 MW each. The second phase of greenfield expansions will take up INR 20,000 crore in another smelter and captive power plants. The projects are likely to be completed between 2019 and 2021. These expansions are expected to take its aluminium production from existing 4.4 lakh tonnes to one million tonnes and also...
A00 aluminium ingot prices registered a jump today, December 18, 2018. Aluminium ingot price increased RMB 100 per tonne to stand at RMB 13,640 per tonne, Shanghai Metal Market found.The average prices today are expected to range between RMB 13,620 per tonne and RMB 13,660 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne. A00 aluminium ingot prices also climbed up across China major markets. As on Tuesday, December 18, the average price of A00 aluminium ingot (South China) stood at RMB 13,800 per tonne, the highest among the six market prices. The price in East China market - (Wu Xi) rose to RMB13630 per tonne and for (Hang Zhou) it increased to RMB13660 per tonne. In North China, Northeast China, Southwest China markets, the average prices of A00 aluminium...
