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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As short-term volatility gripped commodity market, LME aluminium inched up from its early-month drop. The aluminium price on the global bourse stood at US$1,917.50 per tonne on Monday, June 5, up from US$1,916.50 per tonne on Friday, June 2. Shanghai Metals Market (SMM) forecast says LME aluminium will test support at US$1,900 per tonne and range between US$1,890-1,915 per tonne on Tuesday, June 6. The marginal price rise of LME aluminium can be partially attributed to the oil prices which recouped some of its previous losses on Monday. Overall US dollar sentiment also remains weaker. As on June 5, LME official cash buyer aluminium price stands at US$1,917 per tonne, cash seller & settlement aluminium price is US$1,917.50 per tonne, 3M buyer price is US$1,917 per tonne, 3M seller price is...
According to an SMM report, Shandong province, one of the major aluminium producing region in China, is going to restrict its new alumina and aluminium capacity. The province will encourage the development of aluminium processing industry instead. The province has an intention to keep capacity utilization rate in alumina and aluminium industries at above 80% before the end of 2020. Also, it aims to raise aluminium output/aluminium semis output ratio to 1:1.4. The new aluminium projects (including renovation projects and expansion projects) must come under capacity swap program. If a new project comes up, it has to be “swapped” with the removed project of the same capacity or of higher capacity in order to get approved. China is currently producing about 53 per cent of the total aluminium...
LME aluminium is heading towards a volatile phase. With uncertainty brewing in the oil market due to souring political relationships among countries in the Middle East and North Africa (MENA), the light metal commodity is likely to experience a bumpy ride ahead. Saudi Arabia, Bahrain, Egypt and UAE announced to sever all kinds of diplomatic ties with Qatar on June 5, saying the nation supports terrorism. This should lead to transitory changes in the oil market dynamics which, in turn, may impact the commodity market. LME aluminium closed at US$1,916.50 per tonne on Friday, June 5, down from US$1,930 per tonne on Thursday, June 1. According to Shanghai Metals Market (SMM) forecast, LME aluminium will continue to struggle around the moving averages and trade between US$1,920-1,940 per tonne...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, announced the promotion of Boris Santosi to the Director of Global Export Markets. Boris joined Alba in 2011 to set-up the first overseas sales office in Switzerland from where he developed the European and Americas markets. He was promoted to Senior Manager Sales Europe in 2016. Speaking on this occasion, Alba’s Chief Executive Officer Tim Murray said: “Boris has been a key player in the Marketing group for several years. I am confident that under his leadership, the Company’s global export team will continue to deliver superior customer service as well as increase Alba’s export sales with the ramp-up of Line 6 Expansion Project.” Boris holds a BA Hons. in Geography from the School of Oriental and African...
After plunging to US$ 1,919.50 per tonne on Wednesday, May 31, LME aluminium gained a little to close at US$ 1,930 per tonne on Thursday, June 1. According to an SMM analysis, LME aluminium will continue struggling around moving averages and move between USD 1,920-1,940/t today. According to Reuter’s analysis, LME aluminium may retest a support at $1,909 per tonne, as it may have completed a bounce triggered by this barrier. As on June 1, LME official cash buyer price of aluminium stands at US$1,929 per tonne, cash seller & settlement price is US$1,930 per tonne, 3M buyer price is US$1,930 per tonne, 3M seller price is US$1,930.50 per tonne, Dec1 buyer price is US$1,955 per tonne, and Dec1 seller price is US$1,960 per tonne. The current LME official Opening Stock of aluminium is estimated...
After closing down at US$ 1943.50 per tonne on Tuesday, May 30, LME aluminium plunged further to close at US$ 1,919.50 per tonne on Wednesday, May 31. According to an SMM analysis, LME aluminium will move between USD 1,920-1,940/mt today, with strong resistance at the 5-day and 10-day moving averages. As on May 31, LME official cash buyer price of aluminium stands at US$1,919 per tonne, cash seller & settlement price is US$1,919.50 per tonne, 3M buyer price is US$1,918 per tonne, 3M seller price is US$1,919 per tonne, Dec1 buyer price is US$1,943 per tonne, and Dec1 seller price is US$1,948 per tonne. The current LME official Opening Stock of aluminium is estimated at 1473925 tonnes, total Live Warrants is 993075 tonnes, and Cancelled Warrant is 480850 tonnes. LME aluminium premiums, as...
Tiwai Point smelter at Bluff, owned by Rio Tinto’s New Zealand Aluminium Smelters (NZAS) has slashed its underlying profit by more than 50% to $25 million, partially due to higher transmission costs. This latest step by Rio Tinto has reopened the concerns about the smelter’s future as the decision will be facing tough negotiations ahead between Meridian Energy, the Electricity Authority, and even the Government. Chief executive of NZAS, Gretta Stephens said despite a record production in 2016, the smelter's underlying profit declined to $25million in 2016 from $54million in 2015. ''When it comes to transmission charges, we believe you should pay for what you use.” ''This isn't what is happening now, so we're committed to working with the Electricity Authority and Transpower to achieve a...
Hindalco reports record standalone/consolidated performance across all operation including aluminium segment for the fourth quarter and the year ended 31 March 2017. Hindalco reported 26% increase in March quarter net profit at INR 503 crore against INR 400 crore in Q4 2016, driven by better realisations. Revenue from operations was up 27% at INR 11,747 crore. Consolidated revenue for FY2017 was up 7 per cent at INR 39,383 crore while net profit increased more than 50% to INR 1,557 crore. EBITDA for FY2017 stood at a record ?13,558 crore, up 36% compared to FY2016, supported by stable overall operations. While the company's revenue from the aluminium business grew 9 per cent at ?5,548 crore for Q4 2017, the standalone revenue for aluminium division in FY2017 was also up 9% to stand at...
After touching US$1,954 per tonne on Thursday May 25 and followed by a drop, LME aluminium hit a new high of USD 1,968/mt during the Dragon Boat Festival in China, but then tumbled to the 40-day moving average. LME aluminium plunged 1.2% low to close at US$ 1943.50 per tonne on Tuesday, May 30. According to an SMM analysis, LME aluminium should fall further to USD 1,918-1,940/mt today. As on May 30, LME official cash buyer price of aluminium stands at US$1,943 per tonne, cash seller & settlement price is US$1,943.50 per tonne, 3M buyer price is US$1,943 per tonne, 3M seller price is US$1,943.50 per tonne, Dec1 buyer price is US$1,967 per tonne, and Dec1 seller price is US$1,972 per tonne. The current LME official Opening Stock of aluminium is estimated at 1487700 tonnes, total Live...
A global aluminium producer has offered Japanese buyers a premium of $123 per tonne for July-September primary metal shipments, down 4 percent from the current quarter, four sources directly involved in pricing talks said on Monday. Another seller has sought premiums of $128 a tonne, flat to the price for shipments over April-June, the sources said. Japan is Asia's biggest aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. Spot premiums have softened in Japan and the United States, although some Japanese buyers face lower inventories due to solid local demand for automobiles and cans. For the April-June quarter, Japanese buyers agreed to pay a premium of $128 per...
President Trump said in a Tweet that he was looking forward to the results of investigations into whether aluminium and steel imports were endangering national security. He also assured that the government would "take major action" if necessary. In April, Trump signed a memoranda officially directing Commerce Secretary Wilbur Ross to undertake the investigations in aluminium and steel. According to the president, maintenance of the United States steel and aluminium industries was important to U.S. security interests because both the materials are used in crucial infrastructure and defence applications. The memoranda highlighted the fact that markets for both materials are distorted by excess capacity, "much of which results from foreign government subsidies and other unfair practices."...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based aluminium smelter, announces that the optimization process of Line 6 Expansion Project has been concluded with the completion of the Front End Engineering Design (FEED) study in the first quarter of 2017. The FEED Study was led by International Bechtel Co. Ltd. (Bechtel) which was appointed as the Engineering, Procurement, Construction and Management (EPCM) Contractor for Line 6 Expansion Project in mid-April 2016. The FEED study was conducted in Bahrain with the deployment of Bechtel’s core team and key personnel in Line 6 Project offices at the Alba site and was supported with a larger engineering and procurement team based in its New Delhi office. Speaking on this milestone, Alba’s Chairman of Board of Directors Shaikh Daij Bin Salman...
National Aluminium Company Limited (NALCO) announced on Saturday, 27 May, that the company registered a growth of 25.23 per cent with a net profit of INR 268 crore as against INR 214 crore during the corresponding quarter of the previous fiscal. The figure shows an 86 per cent jump over the net profit of INR 144 crore registered in the previous quarter. The company registered a net profit of INR 669 crore, compared to INR 787 crore achieved during the previous year and the gross turnover during 2016-17 has been INR 7,933 crore. The figure revealed that the net profit for the full fiscal year has fallen. According to the release, the company achieved 7.65 per cent growth in bauxite production by recording 100per cent capacity utilization of 6.825 million tonnes in FY16-17, the highest...
After touching the highest for the month at US$1,954 per tonne on Thursday May 25, LME aluminium has plunged slightly low to close at US$1,950 per tonne on Friday, May 26. LME aluminium may rise during the Dragon Boat festival holiday, which will allow SHFE 1707 aluminium to rise as well after the holiday. According to Reuter analysis, LME aluminium continues to face a resistance at $1,962 per tonne, a break above which could lead to a gain to $1,969. As on May 26, LME official cash buyer price of aluminium stands at US$1,949 per tonne, cash seller & settlement price is US$1,950 per tonne, 3M buyer price is US$1,952.50 per tonne, 3M seller price is US$1,953.50 per tonne, Dec1 buyer price is US$1,975 per tonne, and Dec1 seller price is US$1,980 per tonne. The current LME official Opening...
Primary aluminium industry was abuzz with some good news this week. Aluminium prices on London Metal Exchange picked up on steady demand. A weak dollar and rising crude oil prices gave the light metal the much needed support to reverse its recent downtrend. LME aluminium which closed at US$1,943 per tonne on Monday, May 22, rose by 0.54 per cent to US$1,954 per tonne on May 25, Thursday. LME official aluminium stock came down from 1495350 tonnes on Monday to stand 1470550 tonnes on Thursday. In the U.S., primary aluminium production is up by 11 per cent to stand at 63,000 tonnes in March 2017, reported USGS in their latest Minerals Industry Survey. The production, however, is down by 19 per cent year-on-year, the data showed. The Aluminum Association released today three updated American...
India aluminium prices on Multi Commodity Exchange rose by 0.24 per cent to INR 126.60 per kilogram during day trading hours on Friday, May 26 as demand picked up at the domestic spot market. Speculators in the futures trade also built up fresh positions leading to the price rise. MCX aluminium for May 2017 delivery was up by INR 0.30 or 0.24 per cent to INR 126.60 per kg in a total business turnover of 209 lots. MCX aluminium for June delivery also edged up by INR 0.25 or 0.20 per cent to INR 126.60 per kg in a business turnover of 53 lots. Market watchers opine that fresh positions created by the speculators and participants in the futures market following uptick in demand from the end user industries had mainly led to the rise in MCX aluminium prices.
Brazilian metals and cement group Votorantim, formerly known as Votorantim Industrial has posted a net loss of reais 546million (US$166million) for Q1 2017, in comparison to 144million-real profit in Q1 2016. The loss was mostly driven by the sale of non-strategic cement assets and the capital increase in the long steel operations in Brazil. Adjusted EBITDA fell to 625million reais from 869million reais in the same quarter last year. The Ebitda margin also dropped to 11% from 14%. The value of goods sold also dropped 8% YOY to stand at 4.68bn reais, due to the 11% appreciation of the Brazilian real on the consolidation of operations abroad, drop in cement sales in Brazil and temporary suspension of nickel operations. On a positive note, in Votorantim's metals division, aluminium sales...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, has been taking solid steps with the progress of Line 6 Expansion Project, according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The statement was made at the second quarterly meeting for this year, held on Thursday, 25 May 2017 at Alba. Adding further, Shaikh Daij said: “We are very pleased with securing the first tranche of Export Credit Agency (ECA), c. US$ 700 million, and we expect another US$300 - US$400M of ECA-covered financing to be closed by the end of the 3 rd quarter which will fully secure Line 6 financing. I would also like to thank the Alba team for the significant progress in restoring reduction line 5. We look forward to...
