South32 expects the sale of its aluminium value chain assets to Alcoa to be completed in the six months ending June 2027. The proposed transaction covers its aluminium operations and related bauxite and alumina assets in South Africa, Australia and Brazil. The sale follows a binding conditional agreement signed by the two companies, under which Alcoa agreed to acquire the assets for up to USD 5.6 billion . The assets include South32's Hillside Aluminium smelter and the idled Bayside smelter in South Africa, its interests in the Boddington bauxite mine and Worsley alumina refinery in Australia, and the Mineração Rio do Norte bauxite mine and Alumar alumina refinery and aluminium smelter in Brazil. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
LME aluminium cash prices recorded an increase on November 5, 2026, with the cash offer price rising by 0.80 per cent day on day to USD 3,160 per tonne from USD 3,135 per tonne on November 4. On November 5, the LME aluminium cash bid price stood at USD 3,158 per tonne, up by 0.75 per cent from USD 3,134.5 per tonne recorded on November 4. The cash offer price increased by USD 25 per tonne. Similarly, LME aluminium 3-month prices moved higher. The 3-month bid price rose by 0.78 per cent to USD 3,097 per tonne on November 5 from USD 3,073 per tonne on November 4. The 3-month offer price increased by 0.76 per cent to USD 3,097.5 per tonne from USD 3,074 per tonne. For December 27 contracts, the bid price advanced by 0.33 per cent to USD 2,997 per tonne on November 5 from USD 2,987 per tonne...
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Yunnan Aluminium Co Ltd., one of China's major aluminium producing companies, has announced its production target for aluminium and other products for the second half of this year, according to Shanghai Metals Market. Yunnan Aluminum Co. sets a goal to produce 260,000 tonnes of carbon, 650,000 tonnes of alumina, 600,000 tonnes of primary aluminium, and 310,000 tonnes of aluminium processed products in the second half of 2017. The company’s large alumina project in Laos will come up in H2 2017. The company’s revenue increased 42.22 per cent year-on-year to 10.11 billion yuan in the first half of 2017. Yunnan Aluminium posted net profit of 147 million yuan in H1 2017, up 187.70 per cent year-on-year. For the full year ended March 31, 2017, it reported 111 million yuan in net profit, up...
With the LME cash official aluminium price rising 11.4 per cent year-to-date and 16.7 per cent year-on-year to US$1,909 per tonne at the end of June 2017, Rusal’s profit more than doubled reaching US$283 million during the second quarter of the current financial year. The world’s second largest aluminium producer by annual output improved revenue by 24 per cent year-on-year to US$2.47 tonnes. Net debt at the end of the quarter stood largely unchanged at US$8.34 billion. The company said it would pay an interim dividend of US$0.0197 per share totalling up to US$300 million (estimated). Rusal’s revenue for the three months ended June 30 was US$2,467 million, compared to US$1,982 million in the same period previous year. For the six months ended June30, the company’s revenue rose to US$4,764...
China’s Work Safety Commission of the State Council has confirmed that domestic aluminium smelter capacity will be under “rigorous control,” a news that drove aluminium contracts at the Shanghai Futures Exchange up to US42,500 per tonne. The Shanghai Metals Market weekly average aluminium price also continued to rise sharply in the week ending August 25. The weekly average aluminium price gained by US$50.12 per tonne to stand at US$2,422.53 per tonne as on Friday, August 25. China State Council has been supervising production safety checks across the country since August 7-18. The inspection teams have come up with suggestions for rectification for the polluting factories which will be the focus area for further inspection works to be conducted in September. SMM observed that there was a...
BHP Billion spin-off South32 Limited announced Thursday, August 24, that it has ended its last financial year in profit. The company’s revenue improved significantly, thanks to its high operating leverage and higher commodity prices. South32 has a product portfolio that encompasses bauxite, alumina and aluminium. Notably, BHP Billiton announced its annual results much in the same line as South32 last Tuesday, August 22. The natural resource giant returned to profit last financial year following heavy losses a year ago. South32’s revenue rose 20 per cent year-over-year from US$5.81 billion to US$6.95 billion as on June 30, 2017. Expenses were reduced from US$7.24 billion to US$5.74 billion as well, which led to a profit (from operations) of US$1.79 billion. On an underlying basis,...
LME aluminium inches higher again and is back to where it was a couple days before. The light metal contract after dropping to US$2,082.50 per tonne on Wednesday, August 23, rose back to US$2,105 per tonne on Thursday, August 24. However, this rise is unlikely to extend in the short term. According to Shanghai Metals Market forecast, LME aluminium will continue to test support at the five-day moving average and range at US$2,085-2,105 per tonne on Friday, August 25. Reuters’ technical analysis suggests that LME aluminium may fall into the range of US$2,068-2,081 per tonne. Any further gain would be limited to US$2,125 per tonne. As on August 24, LME official cash buyer aluminium price (Bid Price) stands at US$2,104 per tonne, cash seller & settlement aluminium price (Offer price) is...
Aluminium prices in China registers a significant leap today after falling consecutively for two days. The price of aluminium closes on a six-year high today on speculation that the latest limits on expanding output capacity will help curtail oversupply. The aluminium price per tonne on the Shanghai Futures Exchange rose as much as 3.2 per cent on Thursday to RMB16,650/t. SHFE 1710 aluminium fell to RMB 16,090/mt due to exit of longs after opening at RMB 16,285/mt on Wednesday. However, the contract recovered losses during night trading and expected to challenge new highs between RMB 16,550-16,850/t today. In domestic spot market in East China, spot discounts are expected to expand to RMB 220-18/t. The stock in China is however growing notwithstanding the rising prices. In response to...
On failing to break a key resistance at US$2,125 per tonne, LME aluminium retraced to US$2,080 per tonne level. The light metal contract closed at US$2,082.50 per tonne on Wednesday, August 23, coming down from its earlier high of US$2,104.50 per tonne a day before. According to Shanghai Metal’s Market forecast, LME aluminium is estimated to range widely within US$2,085-2,120 per tonne on Thursday, August 24. Reuters’ technical analysis suggests that LME aluminium may again rise in the short term, but any gain would be limited to US$2,125 per tonne. As on August 23, LME official cash buyer aluminium price (Bid Price) stands at US$2,082 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,082.50 per tonne, 3M Bid Price is US$2,075 per tonne, 3M Offer Price is US$2,076...
As China is busy drawing up implementation regulations for its environmental protection tax law, aluminium producers in India and elsewhere stand benefitted from the price impact the Asian country has on the global light metal industry. Source: Google Aluminium accounts for nearly 50 per cent of the revenue of National Aluminium Company Limited (NALCO) and Hindalco, and around 30 per cent of Vedanta. With the LME aluminium price hovering above US$2,100 per tonne on worries over supply from China, the shares of all these three Indian aluminium majors have surged high on the S&P BSE Metal Index. Hindalco Industries Ltd. has climbed 44 per cent and Vedanta Ltd. has risen 33 per cent; Nalco's has been a lower than moderate rise of nearly 4 per cent. China has been the key influencer in the...
Both traders and downstream producers thronged into east China spot aluminium market today when SHFE aluminium fell back for two consecutive days. The mainstream traded prices for SHFE aluminium were RMB15,900-15,920 /tonne in Shanghai, RMB15,900-15,920 /tonne in Wuxi, and RMB15,930-15,950 /tonne in Hangzhou. Contracts were traded with spot discounts of RMB 90-140 /tonne over SHFE 1709 aluminium. In the midst of growing capacity and slow demand, Inner Mongolia Jinlian Aluminum Co., Jinjiang Group’s subsidiary, has reported cuts in aluminium capacity. According to SMM, the company has cut 100,000 tonnes of capacity and will complete closure of another 150,000 tonnes by September 2017. After cutting 250,000 tonnes of aluminium capacity, the company’s total capacity will be reduced to...
After a temporary dip below US$2,100 per tonne mark, LME aluminium is back to where it was last week. Drawing support from positive market fundamentals the light metal edged higher to US$2,104.50 per tonne after night trading on Tuesday, August 22, from the earlier close at US$2,084.50 per tonne on August 21. Reuters’ technical analysis suggests that LME aluminium is still targeting a range of US$2,046-US$2,055 per tonne, as it is yet to complete the correctional reversal from the high of US$2,112 on August 17. According to Shanghai Metals Market forecast, LME aluminium will drop and range at US$2,060-2,090 per tonne on Wednesday, August 23, since aluminium stocks at LME registered warehouses are beginning to rise. As on August 23, LME official cash buyer aluminium price (Bid Price)...
The exclusive aluminium industry report by AlCircle titled Potline Failure in Aluminium Smelters: An Observation and Recent Case Studies (2013-2017) has strike the right chord with the global aluminium industry players. From renowned aluminium smelters, consultancies, and research bodies to technical infrastructure providers- everyone is showing genuine interest in the report. Some of the biggest names in the industry have already even subscribed for it. With well-researched information and case studies spanning last five years’ time period, the report promises to provide deep insight into the aluminium potline failure issue that has been found to be having significant financial impact and hence, an area of prime concern for aluminium producers over the years. In the era of predictive...
SHFE 1709 aluminium dropped RMB 150 /t after opening on Tuesday, and then recovered some losses before closing. Though there was enough buying and selling in the East China market, overall trading was slow. Traders were in a wait-and-see mode, while downstream producers bought the metal following the drop in price. Mainstream traded prices for SHFE 1709 aluminium ranged between RMB 16,060-16,070/t in Shanghai, RMB16,060-16,070 /t in Wuxi, and RMB16,070-16,090 /t in Hangzhou. SMM expects August aluminium output in China to stand at 3.08 million tonnes in August, up 12.6% YoY, but less than 3.12 million tonnes of aluminium output in July. Annualized aluminium capacity in operation expected to be down slightly to 36.20 million tonnes. According to IAI, primary aluminium output outside China...
Jiwanram Sheoduttrai (JS) Group, the multi-faceted organisation engaged in industrial marketing, manufacturingand turnkey project management and the trusted raw material and technology partner of aluminium businesses in India and abroad, recently celebrated the 100th birth anniversary of its key founding member, Late Satyanarain Prasad, in Kolkata. The Centennial Founder’s Day celebration held at Arts Acre, Museum of Bengal Modern Art, in New Town, Kolkata, on August 8, reached a different level of success in presence of 300 plus guests who came in from different parts of the world. As part of this Founder’s Day celebration, the JS family commemorated absence of Shri Satyanarain Prasad ji through his omnipresence. An elaborate programme was staged which saw one of his grandsons Mr....
The upward momentum in LME aluminium prices is likely to slow down this week. The bullish sentiment that prevailed last week with investors flooding in the market is settling down. LME aluminium which had closed at US$2,104 per tonne last Friday, August 18, came down to US$2,084 per tonne on Monday, August 21. Shanghai Metals Market predicts that LME aluminium will stage technical corrections and hover at moderate highs this week. Reuters’ technical analysis suggests that LME aluminium may drop into the range of US$2,046-2,055 per tonne after facing correction. There is a resistance at US$2,089; a break above this mark could lead the light metal to a gain around US$2,103 per tonne. As on August 21, LME official cash buyer aluminium price (Bid Price) stands at US$2,084 per tonne, cash...
Building up of fresh positions amid improved demand scenario in the spot market led aluminium prices in India drive up by 1.33 per cent to INR 133.45 per kg in futures trade today, August 21. Aluminium for September delivery climbed up by 1.33 per cent to INR 133.45 per kg in a total business turnover of 292 lots at Mumbai's Multi Commodity Exchange. Likewise, aluminium for delivery in August was found trading higher by INR 1.70 or 1.30 per cent to INR 132.75 per kg in a business turnover of 1,155 lots. Market analysts said that creation of fresh positions by participants due to spike in demand from the end user industries in India's spot market primarily led to the rise in aluminium prices at futures trade, reported PTI.
While SHFE aluminium is performing well in the Chinese market, aluminium stocks in China continues growing week on week as downstream producers are unwilling to buy at higher price. Stocks in China’s seven major markets grew further compared with a week ago, SMM statistics showed, with details in the table below: SHFE 1709 aluminium has been performing well last week and on Monday it ended at RMB 16,380 /t before lunchtime. Growing aluminium prices have fuelled more activities in the market. Traders were active in south China aluminium market. Downstream producers showed low interest in buying metal. Mainstream traded prices for aluminium were within the range of RMB 16,180-16,200/t in Guangdong this morning, with premiums over Shanghai narrowing to RMB 50 /t. Shanghai Metals Market...
LME aluminium is on a solid upward trend. Drawing support from strong market fundamentals, the light metal climbed steadily to close at US$2,104.50 per tonne, up 11.5 per cent from US$1,887 per tonne at the beginning of this month. Reuters’ technical analysis suggests that LME aluminium may end its bounce from August 18’s low of US$2,057.50 per tonne around the current resistance level of US$2,103 and then again drop elow US$2,100 per tonne. According to Shanghai Metals Market forecast, LME aluminium will range at US$2,050-2,080 per tonne on Monday, August 21 after testing support at the 5-day moving average. As on August 18, LME official cash buyer aluminium price (Bid Price) stands at US$2,104 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,104.50 per tonne, 3M...
Ao Hong, president of Chalco, said on Friday, that the company’s primary aluminium production increased in the first six months of this year. He said that the increased production was due to capacity curtailments by private rivals, reported by Reuters. Chalco’s production increased by 250,000 tonnes in the first half of 2017. The outright production figure for the mentioned period has not been divulged by the company. Chalco’s smelting capacity is about 5 million tonnes per year The company will make further investments in H2 2017 to increase the production of aluminium. The investment will gradually reflect in company’s production in 2018. According to the estimated figures by the consultancy AZ China, Chalco’s primary aluminium production would increase by 15 percent to 3.39 million...
