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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Russian tycoon Oleg Deripaska's En+, a company focused on energy and aluminium is expected to attract investors because of the growing global deficit in the aluminium market and improving outlook for Russian securities, as said by Chief Executive of the company Maxim Sokov to Reuters. The company is posing as a Russian aluminium and hydropower conglomerate equipped with lower-cost Siberian power, a blessing for energy-intensive aluminium smelting business. "We convert power into aluminium and sell it to the world. We believe the aluminium market has a significant upside," said Sokov. The company owns Siberian power assets and a 48% stake in Rusal, the world's second-largest aluminium producer. According to a Reuters’ poll, global aluminium surplus in 2016 is estimated to drop by 74% to...
China aluminium industry is on the verge of getting a widespread reshuffling in the second half of this year. After the three major aluminium producing regions of the country issued recent policy changes to crack down on illegal and outdated aluminium smelters, the government took the decision to implement such policies on a wider scale, with possible few more additions, reported local media. Governments of Xinjiang, Shandong, and Inner Mongolia have issues documents to shutdown illegal aluminium capacity in these regions. In another development, China announced a 'capacity swap' programme aimed at tackling severe overcapacity in the domestic aluminium industry. Under this project, China government will approve a new project only if it is decalred ready for being "swapped" with an...
According to Trading Economics data, Mozambique’s exports surged 56.2 per cent since 2009 to reach a value of US$3.4 billion in 2016. The year-on-year export increased five percent in the previous year. Aluminium was the second highest commodity and the fastest-growing among the top 10 export categories to be shipped globally. The southeast African country exported aluminium worth US$889.3 million (up 26.5 per cent YoY) in 2016. The value is slightly lower than the estimated value of US$992.15 million for the same year, reveal international trade data. {newsStudioGallery} A glance at the three-year aluminium export trend from Mozambique would reveal a year-on-year rise in volume in 2016 from 2015. The country shipped 589188 tonnes of aluminium in 2015 which increased by 3.5 per cent to...
LME aluminium finally broke the downtrend it was tracing of late by closing at US$1,899.50 per tonne on Monday, May 15. The light metal traded globally rose further by 0.8 per cent to close at US$1,915 per tonne on Tuesday, May 16. Reuters’ technical analysis suggested that LME aluminium may retrace to US$1,890 per tonne on failing to break a resistance at US$1,908 per tonne. However, Shanghai Metals Market says that the contract will hover in the range of US$1,910-1,930 per tonne on Wednesday, May 17. As on May 16, LME official cash buyer price of aluminium stands at US$1,914 per tonne, cash seller & settlement price is US$1,915 per tonne, 3M buyer price is US$1,912 per tonne, 3M seller price is US$1,912.50 per tonne, Dec1 buyer price is US$1,943 per tonne, and Dec1 seller price is...
The Aluminum Association, in cooperation with the Aluminium Association of Canada, reported that primary aluminium production in North America (U.S. and Canada) was at an annual rate of 3,965,579 tonnes during April 2017. This registers a drop of 11,897 tpy (-0.3%) from the March 2017 rate of 3,977,476 tonnes. The production rate in the U.S. decreased 1.3% m/m, while the Canadian rate was down slightly. On a year over year comparison, the North American annual rate was 1.1% below the April 2016 rate of 4,009,042 tonnes. Actual production through the first four months of 2017 totalled 1.3 million tonnes, down 4.7% from the same period of 2016. Imports of aluminium ingot, scrap and mill products into the U.S. and Canada stood at 898 million pounds in March 2017, up 26.9% over the March 2016...
Alcoa, the world's fifth largest producer of aluminium, which split into two separate businesses, revitalized itself from the separations, CEO Roy C. Harvey told the shareholders at the David L. Lawrence Convention Center, Downtown. The company split into upstream Alcoa and downstream Arconic in November 2016. Mr. Harvey said, “It gave us an opportunity to rethink everything. We’re a start-up. We’re a brand new business.” The company is planning to consolidate its worldwide administrative locations, a strategy he believes would save money and aid employees work more closely. The company’s shareholders agreed the election of 12 directors to one-year terms and company’s executive pay policies. They have voted to hold the nonbinding shareholder vote on executive pay yearly. Mr. Harvey was...
Vedanta Limited announced its audited consolidated results for the fourth quarter (Q4) and full year ended 31 March 2017 (FY 2017) on Monday May 16. The results report record annual production at Aluminium, Power, Zinc India (Zinc and Silver) and at Copper-India and improved revenue and EBITDA QoQ and YoY. Commenting on the results, Navin Agarwal, Chairman Vedanta Limited, said, "The completion of the Cairn India merger transforms Vedanta Ltd. into a diversified natural resources powerhouse, anchored in India. The combined entity truly reflects our strong, diversified, low-cost portfolio with industry-leading volume growth from our well-invested assets. " Tom Albanese, Chief Executive Officer, Vedanta Ltd, said: "I am happy to report that Vedanta has posted strong financial and...
LME aluminium finally broke above the resistance zone of US$1,890-1,892 per tonne and closed higher at US$1,899.50 per tonne after night trading on Monday, May 15. Shanghai Metals Market forecasts that the light metal traded globally will keep moving in the range of US$1,890-1,914 per tonne on Tuesday, May 16. Reuters’ technical analyses show that there is a support below at US$1,880, a break below which could cause a loss in the range of US$1,862.50-1,871 per tonne; but macroeconomic indicators suggest the fall in that range is unlikely in the immediate short-term. As on May 15, LME official cash buyer price of aluminium stands at US$1,899 per tonne, cash seller & settlement price is US$1,899.50 per tonne, 3M buyer price is US$1,904 per tonne, 3M seller price is US$1,905 per tonne, Dec1...
According to a media report from Odisha, National Aluminium Company (Nalco) has feared scarcity of pitch and coke, two essential raw materials of aluminium smelting in last fifteen days may affect production in the coming days. According to reports, the plant’s store doesn’t have enough inventories to compensate the falling supply of these two essential materials and run the unit smoothly. The plant has been operating with two to three tankers of pitch per day during the last fortnight in place of 10 tanker-loads of pitch a day. The supply of coke has also been affected in the last fortnight. According to some Nalco officials, the production has been affected due to use of inferior quality anode. In a smelter, cathodes are replaced after several years, but, anodes need to be replaced...
LME aluminium gave up its marginal gain last week and dropped to US$1,880 per tonne after night trading on Friday, May 12. The 0.37 dip was caused due to oversupply issues looming large over global aluminium market. According to Shanghai Metals Market (SMM), LME aluminium will perform better this week but not “as well as” aluminium traded at the Shanghai Futures Exchange (SHFE). SMM foresees LME aluminium trading mainly in the range of US$1,870-1,900 per tonne on Monday, May 15. As on May 12, LME official cash buyer price of aluminium stands at US$1,879 per tonne, cash seller & settlement price is US$1,880 per tonne, 3M buyer price is US$1,883 per tonne, 3M seller price is US$1,884 per tonne, Dec1 buyer price is US$1,923 per tonne, and Dec1 seller price is US$1,98 per tonne. The current...
ALUMINIUM MIDDLE EAST 2017 Exhibition is all set to host over 200 regional and international exhibitors in the fifth edition of the mega event in Dubai International Convention and Exhibition Center, UAE from May 15-17, 2017. The event is set to position UAE and the Middle East as the preferred investment hub for leading international companies, building on the consistent growth of the aluminium industry in the region. The event will highlight Middle East’s new strategy to divert from the oil sector to aluminium and how it is working towards becoming a powerhouse in aluminium production and processing. {newsStudioGallery} This flagship event for the Middle East aluminium industry will host exhibitors and visitors from the entire value chain covering producers, manufacturers and processors...
Total aluminium exports by Russia increased both in volume and value during the first quarter of 2017, showed data released by The General Customs of Russia. Aluminium ingot exports (alloyed as well as non-alloyed) grew from 852,300 tonnes in the first quarter of 2016 to 859,400 tonnes in first quarter of 2017, up 0.83 per cent year-on-year. Value of aluminium exports by Russia totalled US$1.44 billion in Q1 2017, up from US$1.16 billion in the corresponding period previous year. International trade data shows, Russia exported 3.93 million tonnes of aluminium in 2016. The estimate for 2017, though lower at 3.63 million tonnes, is likely to increase given the rising demand of the light metal across a wide cross section of the end user industries. Value-wise growth of aluminium exports by...
T he Manufacturers for Trade Enforcement (MTE), a coalition representing more than one million workers in the aluminum, steel, cement, chemical, textile and other manufacturing industries, submitted comments to the Department of Commerce supporting the department’s continued approach of a criteria-based assessment of market economy treatment for any country. The coalition further argued that China does not currently satisfy the statutory requirements to be considered a market economy. The MTE submitted the comments in response to the Commerce Department’s recent inquiry into the continued treatment of China as a non-market economy under existing antidumping and countervailing duty laws.
UC RUSAL, the leading global aluminium producer reported robust financial results for the First Quarter of 2017, attributed to its operational efficiency and cost discipline, supported by stronger LME prices. As reported in the result, Rusal produced 910 thousand tons of aluminium in Q1 2017, registering a 2.1% drop quarter on quarter and 0.7% drop YoY. This was offset by a 6.8% QoQ increase and 2.9% YoY growth in total aluminium sales volume at 985 thousand tons. In Q1 2017, the average realized all-in aluminium price increased 8.3% QoQ to USD1,949/t and 17% YoY. The increase was largely driven by the positive movement in London Metal Exchange price of aluminium in Q12017 at USD 1,850. The average realised aluminium premium was USD151 per ton for the fourth quarter. Aluminium segment...
LME aluminium finally took a hiatus from its recent slide to close at US$1,887 per tonne after night trading on Thursday, May 12. The light metal traded globally rose 0.9 per cent from its previous close of US$1,870 per tonne mainly on the news of China shutting down outdated and illegal aluminium capacity. It is learnt from the latest Scrap Register report that China closed 32000 tonnes per year of aluminium smelting capacity in 2016 in order to improve supply scenario of the base metal. According to Shanghai Metals Market (SMM) forecast, LME aluminium will test support at the 5-day moving average (US$1,883.4 per tonne) and range at US$1,865-1,890 per tonne on Friday, May 12. As on May 11, LME official cash buyer price of aluminium stands at US$1,885 per tonne, cash seller & settlement...
China Aluminum International Trading Co. (Chalco Trading) cut aluminium prices it offered in major markets on Thursday, May 11. The price details are as follows: Unit: yuan/tonne In another development, it is learnt that China might cut aluminium production by as much as 1-1.5 million tonnes during winter heating season, a high-ranking executive from Chalco said on May 4. The heating season will start from November and last four months. China’s crackdowns on illegal aluminium capacity will affect capacity by 3-8 million tonnes, Lu Dongliang, Deputy President at Chalco said. Aluminium consumption in China will grow 7-10% this year and the next and aluminium capacity in China will climb to 45 million tonnes by 2020, Lu added.
The recent downfall in LME aluminium prices enters its sixth day. The light metal traded globally has dropped by 2.4 per cent since it last hit US$1,916 per tonne on May 3. On Wednesday, May 10, LME aluminium closed at US$1,870 per tonne, down 0.21 per cent from its previous close of US$1,874 per tonne on Tuesday, May 9. Shanghai Metals Market forecasts that LME aluminium prices will fluctuate within the range of US$1,850-1,880 per tonne on Thursday, May 11. As on May 10, LME official cash buyer price of aluminium stands at US$1,869.50 per tonne, cash seller & settlement price is US$1,870 per tonne, 3M buyer price is US$1,874 per tonne, 3M seller price is US$1,875 per tonne, Dec1 buyer price is US$1,915 per tonne, and Dec1 seller price is US$1,920 per tonne. The current LME official...
The Saudi Arabian Mining Company (Ma’aden) released its consolidated financial and operating results for the first quarter ended 31 March 2017. The Company reported strong profit growth driven by increased production volumes across all segments, improved commodity prices and a cost advantages. The Q1 2017 recorded stronger prices for aluminium, gold and copper in comparison to Q1 2016. Total sales increased by 20% YoY driven by increased volumes in all business segments and higher prices for aluminium by 17%. Net income rose 70% YoY to reach SAR 341 million. “Ma’aden continues to deliver on all fronts, achieving both outstanding operational performance as well as a strong financial performance in the first quarter of the year. We ramped-up production as planned in all our businesses and...
