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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LME aluminium is yet to start gaining strength. The light metal which closed at US$1,892 per tonne last Thursday, August 3, dipped further down to US$1,890 per tonne after night trading on Friday, August 4. According to Shanghai Metals Market forecast, LME aluminium should continue to struggle around the moving average and range at US$1,900-1,918 per tonne on Monday, August 7. Reuters’ technical analysis suggests that LME aluminium may test a resistance at US$1,938 per tonne in the short term. A break above this level may lead to a gain to the next resistance at US$,948 per tonne. As on August 4, LME official cash buyer aluminium price (Bid Price) stands at US$1,888 per tonne, cash seller & settlement aluminium price (Offer price) is US$1,890 per tonne, 3M Bid Price is US$1,909 per tonne,...
In order to improve transparency and increase the amount of metal registered under LME warrant, The London Metal Exchange has urged its network of metal warehouse owners to cut the rents charged for storage of metal. Rents for aluminium on warrant currently stands at about around 54 U.S cents a tonne, of which the exchange earns 1.1%. Storage rent for metal not under LME warrant is 10 cents or less than that. Commenting on the request, an LME spokesperson said: "The LME has initiated a discussion with the warehouse community to find a solution to collectively cut the relatively high headline rents which can keep metal out of the LME network," LME warehouses over the last three years have been releasing metal, particularly aluminium to keep the inventories in check. The current stocks at...
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In an investor presentation on Wednesday, Century Aluminum’s president and CEO Michael Bless said that his firm plans reopening the 100 thousand tpy of idled aluminium smelting capacity in the United States soon. He however added that the reopening depends on the availability of cheaper power for the Mt. Holly smelter. This was in response to investor’s questions regarding the future of the idled potline at Mt. Holly and Hawesville plant. Regarding Mt. Holly, Bless said a restart would happen “as soon as we can get the last 25% of that power from the market.” However, he added that even if a new agreement is reached, smelting new aluminium at the plant will still take “several months.” The Mt. Holly facility has been running only one potline for last two years despite having a nameplate...
Amidst uncertainties about aluminium capacity cut in China, The government has issued a suggestion that construction of new coal-fired captive power plants will be banned in cities like Beijing, Tianjin, Hebei, Yangtze River Delta and Pearl River Delta. The document also directed that coal-fired captive power plants must comply with national energy-saving and emission discharge standards. On this news, SHFE aluminium prices jumped to RMB 14,850/mt on Friday after opening at RMB 14,690/mt. SHFE 1710 aluminium plunged later, closing at RMB 14,765/mt. On this development, aluminium smelters in east China are holding back goods as recent gains in SHFE aluminium market have fuelled their optimism. Market supply was squeezed as a result, which forced downstream producers to accept higher prices...
Aluminium futures traded on India’s Multi Commodity Exchange eased by 0.08 per cent to INR 122.20 per kilogram on Friday, August 4. Market participants cut down their bets based on speculations amid weak demand in the spot market MCX aluminium for delivery in September 2017 fell by 10 paise or 0.08 per cent to INR 122.20 per kg, in a total business turnover of three lots. MCX aluminium for delivery in August followed the downtrend and dropped by 0.04 per cent to INR 121.50 per kg in business turnover of 126 lots. According to market analysts, sluggish demand from the end user industries in the spot market led to offloading of positions by the participants dragging down aluminium prices at the futures trade on Friday, August 4. In the global market, LME aluminium is hovering at US$1,890...
Discouraging all efforts towards capacity cut, aluminium stocks in China are continuously rising in July and August. SMM statistics showed that aluminium stocks in five major markets, including SHFE aluminium stocks have touched fresh record highs recently. As of August 3, stocks in Shanghai stands at 275,000 tonnes, Wuxi at 566,000 tonnes, Gongyi at 95,000 tonnes, Hangzhou at 88,000 tonnes and Nanhai at 310,000 tonnes. All these five markets put together, the current aluminium stock stands at 1.33 million tonnes, up 51,000 tonnes from a week ago. SHFE Aluminium and A00 ingot prices soared in all markets after the much hyped higher-than-expected capacity cut rumours at China Hongqiao. Shandong Xinfa Group has also announed completion of shutdown of 426 electrolytic cells, with a capacity...
The demand for “green” aluminium is on the rise. Global automotive, electronics, and packaging industry players who are fiercely competing to occupy a piece of mind-space of today’s environment-conscious consumers while getting a quick go-ahead from the regulators and investors are increasingly leaning towards low-carbon aluminium. Cashing on the demand, aluminium producers running hydro-powered or gas-fired smelters are charging a premium for their end product- low-carbon or “green” aluminium. The change of the consumer preference towards low-carbon aluminium has long been awaited. According to the International Aluminum Institute (IAI) data, the amounts of hydro and coal power used to make aluminium stood roughly at the same level around 200,000 gigawatt hours each in 2005. A decade...
LME aluminium is finding it difficult to hold ground above US$1,900 per tonne. The light metal which edged higher to US$1,904 per tonne on August 2, from its earlier close of US$1,887 per tonne on August 1, has again slid back to US$1,892 per tonne after night trading on Thursday, August 3. Reuters’ technical analysis suggests that LME aluminium is biased to break a support at US$1,909 per tonne, and fall towards the next support at US$1,896 per tonne. According to Shanghai Metals Market forecast, LME aluminium should continue to struggle around the moving average and range at US$1,910-1,922 per tonne on Friday, August 4. As on August 3, LME official cash buyer aluminium price (Bid Price) stands at US$1,891 per tonne, cash seller & settlement aluminium price (Offer price) is US$1,891.50...
Century Aluminum Company reported a net income of $7.1 million for Q2 2017 in comparison to a net loss of $15.1 million for Q1 2017. Results were driven by a $6.1 million unrealized gain relating to LME forward sales. Adjusted net income for Q2 was $0.8 million compared to an adjusted net loss of $5.0 million for Q1 2017. The positive results were a reflection of improved aluminium prices and positive market sentiments in the U.S. The adjusted net income was $0.8 million compared to an adjusted net loss of $5.0 million Q1 2017. Century also reported adjusted EBITDA of $34.0 million, up $11.8 million from Q1 2017. The increase was driven by higher aluminium prices, slightly offset by higher alumina prices. Commenting on the results, Michael Bless, President and Chief Executive Officer...
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As expected, the average prices of A00 Aluminium has registered a substantial gain across all major Chinese markets (North, South, North-East and South-West) today based on the news in the market that China Hongqiao Group will shut down 2.6 million tonnes of aluminium capacity before October. Market participants expect that more than 2 million tonnes capacity cut by the largest aluminium producer in the world would make a sizable difference in the aluminium inventory. On August 3, among the domestic markets, the average price for A00 Aluminium Ingot for North China market has increased to RMB 14,440/t . In the South China market the price increased to RMB 14,520/t. The price gap between the two market increased toRMB 80/t. The price in East China market (Zhejiang) jumped to RMB 14,505/t...
LME aluminium crosses the US$1,900 per tonne level and settles at US$1,904 per tonne after night trading on Wednesday, August 2. The rise from the earlier close of US$1,887 per tonne on August 1 suggests that the light metal is currently on an uptrend. However, Reuters’ technical analysis says that LME aluminium is neutral in a range of US$1,922-US$1,938 per tonne; and only an escape from this range could suggest a direction. According to Shanghai Metals Market forecast, LME aluminium should move at highs of US$1,917-1,933 per tonne on Thursday, August 3. As on August 2, LME official cash buyer aluminium price (Bid Price) stands at US$1,902 per tonne, cash seller & settlement aluminium price (Offer price) is US$1,904 per tonne, 3M Bid Price is US$1,925 per tonne, 3M Offer Price is...
According to a news report from Reuters, China Hongqiao Group Limited, the biggest aluminium producer in China said that they have planned to cut 2 million tonnes per year of outdated aluminium capacity. The company said that it expects the production to continue to be at similar levels to current production, albeit outdated capacity cuts. Also, the company anticipates that this outdated capacity cut will not impact its financials, cashflow or regular production. It was reported earlier that the company is curtailing outdated capacity on the back of government’s strict measures against illegal production. China has started taking strict measures this year to cut capacity to reduce excess supply and to put a curb on pollution. China’s top economic planning agency issued an order in April...
Rio Tinto has announced production and financial results for the first half of 2017 and reported cash generation of $6.3 billion and cash returns to shareholders of $3.0 billion. Commenting on the results, Rio Tinto chief executive J-S Jacques said “By driving performance, focusing on cash and allocating it with discipline we are delivering superior cash returns to our shareholders.” “We are now shifting gear to focus on the untapped value from our productivity programme and continue to strengthen our portfolio to build higher returns for the future,” he added. The company is strengthening the portfolio with all three growth projects on track and a $2.7 billion disposal announced in 2017 first half. It also reduced net debt by $2.0 billion to $7.6 billion, with gross debt4 lowered by $2.5...
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The China aluminium market is fluctuating almost every day over the uncertainty regarding the current aluminium capacity cut in the country. The average prices for A00 ingot dropped across all major China markets (North, South, East, North-East and South-West) on August 2 after a quick boost the day before. Among the domestic markets, the average price for A00 Aluminium Ingot for North China market has dropped to RMB 14,210/t . In the South China market the price dropped to RMB 14,285/t. The price gap between the two market increased toRMB 75/t. The prices Zhejiang and Jiangsu provinces in East China market were down to RMB 14,240/t and RMB 14,210/t respectively . For the Southwest China market, the price increased to RMB 14,230/t and for Northwest China market it stood at RMB 14,185/t ....
After firming up slightly on support from a weaker dollar and rising crude oil prices on Monday at US$1,904 per tonne, LME aluminium plunged again to US$1,887 on Tuesday, August 1. It plunged below the expected range of US$1,905-1,925 per tonne. As observed by Shanghai Metals Market, LME aluminium should continue struggling around moving averages and range USD 1,903-1,917/mt today. As on August 1, LME official cash buyer aluminium price (Bid Price) stands at US$1,886per tonne, cash seller & settlement aluminium price (Offer price) is US$1,887 per tonne, 3M Bid Price is US$1,908 per tonne, 3M Offer Price is US$1,910 per tonne, Dec17 Bid Price is US$1,953 per tonne, and Dec1 Offer Price is US$1,958 per tonne. LME aluminium Opening Stock stands at 1349125 tonnes, total Live Warrants is...
After much awaiting for an official announcement of actual aluminium production cuts taken up by China, Xinfa Group has confirmed closing of 530,500 tonnes of annual illegal aluminium production capacity. A statement by a local government in eastern Shandong province has confirmed this to Media. According to an update by Chiping county government on its website, a team of experts from Jinan-based Ailinte Safety Technology Consulting Co and local government officials and Xinfa Chairman Zhang Xuexin, had visited Xinfa smelting facilities on July 30 to check the status and confirmed that the capacity closures had been carried out in its smelters. As on July 28, Xinfa shut down a total of 426 units at it subsidiaries Huaxin Aluminium, Huayuan Aluminium and Xinyuan Group, the posting said....
LME aluminium firms up slightly gaining support from a weaker dollar and rising crude oil prices on Monday, July 31. The light metal which closed at US$1,892 per tonne last Friday, July 28, settled at US$1,904 per tonne after yesterday’s night trading. However, the gain is likely to be limited within the range US$1,905-1,925 per tonne on Tuesday, August 1, as LME aluminium faces strong resistance at the moving averages, observes Shanghai Metals Market. According to Reuters’ technical analysis, LME aluminium is biased to break a support at US$1,909 per tonne and retrace the next support level at US$1,896 per tonne in the short term. A break above US$1,909 per tonne in the upper trendline may take the light metal contract to US$1,926.50-1,938 per tonne during later trading hours on Tuesday,...
It is almost certain now that China is slashing production in aluminium smelters located around Beijing ahead of the winter heating season. Recently, the government also initiated a series of illegal capacity cuts to check pollution caused by alumina refineries and aluminium smelters in major production hubs. The two-pronged strategy with one action already implemented and the other one- announced, sent out a message of widespread supply-side readjustment in the global market which buoyed up aluminium prices at London Metal Exchange. But, it seems that not all things that are visible are open at China’s end, at least, that is what the analysts opine. Senior Metals Columnist at Thomson Reuters in London, UK, Andy Home writes, "China's production of primary aluminium hit a record high of...
