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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Aluminium has emerged as the best performing industrial metal of 2017, as growing confidence that China will take steps to end a supply glut pushes prices to the highest level in almost three years. The industrial metal, which is used in everything from drinks cans to cars to girders for construction, has climbed close to 15 per cent this year outpacing the 2.7 per cent increase for zinc and 3.1 per cent advance for copper. Aluminium for delivery in three months is currently trading at $1,933 a tonne. Since the financial crisis, a glut of supply has cast a shadow on the market as Chinese producers have spent billions investing in new capacity and the latest smelting technology. Now, after tackling excess capacity in coal and steel industries, there are signs Chinese authorities are...
LME aluminium ended last week in a drop. The light metal contract traded globally registered a drop of 1.25 per cent from its previous close to end at US$1,930 per tonne on Friday, April 28. Yesterday being the Early May Bank Holiday at the London Metal Exchange, trading will resume today. Shanghai Metals Market (SMM) predicts LME aluminium should move at the range of US$1,908-1,935 per tonne on Tuesday, May 2. It is likely to hover around the 40-day moving average. As per Reuters' analysis, LME aluminium may retest a support at US$1,908 per tonne, probably after a further bounce into the range of US$1,931-$1,941. "The metal has briefly pieced above US$1,921. It has a better chance of extending to US$1,931, or to US$1,941, Retuters observes. As on April 28, LME official cash buyer price...
LME aluminium registered a sharp drop on Friday, April 28, defying a section of analysts’ outlook that indicated at a buoyant ending for the light metal last week. The contract closed at US$1,930 per tonne after Friday night trading, down 1.25 per cent from the previous day’s close of US$1,954.50 per tonne. The decline in LME aluminium prices was registered even though the US dollar index closed lower on Friday- the third weekly drop in a row. Trend analysis suggests that the LME aluminium will continue trading at lows on Monday, May 1, and may regain some strength as the week advances. As on April 28, LME official cash buyer price of aluminium stands at US$1,929.50 per tonne, cash seller & settlement price is US$1,930 per tonne, 3M buyer price is US$1,937 per tonne, 3M seller price is...
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The month of May is awaiting the aluminium industry players with a few mega events that open up significant business opportunities between the West and the East. The month’s events mainly focus on the upstream industry covering smelting, primary aluminium and a few events from the semi-finished and finished sector. The chief among the events are CRU World Aluminium Conference and ALUMINIUM MIDDLE EAST, Dubai that bring together the global aluminium industry under one roof. Have a quick look at the top aluminium events in May and plan your visit accordingly. 1. CRU’s World Aluminium Conference 2017 Date: 3 rd –5 th May, 2017 Location: Marriott London Grosvenor Square, London, UK. The CRU World Aluminium Conference focuses on the outlook for markets, prices and premiums. When the 2017...
The US President Donald Trump yesterday signed an executive order for investigating the impact of aluminium imports on U.S. national security as it considerably used in defence industry manufacturing. He asked Commerce Secretary Wilbur Ross to inspect the matter. Trump said: “The American aluminium industry has been severely damaged by unfair foreign trade. Cheap subsidised foreign imports have flooded into the market, destroying thousands of great American jobs, jobs that are no longer.” “Today I’m calling on Secretary Ross to prioritise the investigation he initiated yesterday (Wednesday) into whether foreign aluminium imports are jeopardising our national security, and to submit a report setting forth his findings.” He further added: “We cannot afford in these dangerous times to become...
Norsk Hydro reports positive first quarter 2017 results driven by higher realized all-in metal and alumina prices that was slightly offset by higher raw material costs. Hydro reports underlying EBITD of to NOK 2,284 million in comparison to NOK 1,829 million in the fourth quarter 2016. Underlying EBIT for Primary Metal increased in the first quarter due to higher realized all-in metal prices and higher volumes. This was partially offset by significantly higher alumina costs. Underlying EBIT for Metal Markets declined in Q1 2017 due to lower results from sourcing and trading activities and negative currency effects. Karmøy Technology Pilot project is running on time and budget and expected to start by Q4 2017. "We are raising our expected 2017 global primary demand growth outlook from 3-5...
The World Bank has hiked its yearly forecast for base metals prices. It expects the base metals prices to log a 16 per cent annual growth rate, compared to the 11 per cent expected in January this year. Strong demand for the metals in China alongside higher disruption rate at mines in Chile, Indonesia and Peru is expected to precipitate the supply tightness. The price rise in LME aluminium came to an early halt yesterday as the light metal after rising for two consecutive days closed at US$1,954.50 per tonne on Thursday, April 27. Reuters’ analysis says LME aluminium may retest a support at US$1,921 per tonne, a break below which could cause a further loss into the range of US$1,900-US$1,908. According to Shanghai Metals Market (SMM) forecast, LME aluminium is likely to rally to...
Century Aluminum Company has announced its first quarter 2017 results. The company reported a net loss of $15.1 million for Q4 2016 in comparison to the net loss of $168.5 million in Q4 2016. Adjusted net loss amounted to $5.0 million compared to an adjusted net loss of $11.5 million for Q4 2016. Results were impacted by a $14.0 million unrealized loss relating to LME forward sales. Sequentially, the results record substantial improvement, though the company continues making losses. The reported adjusted EBITDAof $22.2 million was up $10.3 million sequentially on higher LME prices, partially offset by higher raw material costs. The company also reports total revenue of $365.8 million, an 8% increase over prior quarter. Century reports a cash position at quarter end of $125.9 million and...
The U.S. Commerce Department yesterday launched a probe into aluminium imports as it might be affecting U.S. national security. The investigation is alike to the one that was launched by the administration last week into steel. Commerce Secretary Wilbur Ross said that “Imports have been flooding into the aluminium industry”. The aluminium imports had mounted 16 per cent in 2016. The production of aluminium in the country had dropped though. He stated: "China subsidies have created overcapacity. At the very same time that our military is needing more and more of the very high quality aluminium, we are producing less and less of everything and only have one producer of aerospace quality aluminium." The investigation will be commenced under Section 232 of the Trade Expansion Act. The...
Coinciding with the NPC and CPPCC meetings in Beijing, the aluminum industry in China is experiencing a warm spring. Primary aluminum has seen a rise last year from 9,800 yuan/ton to 15,800 yuan/per ton. In 2017, the aluminum price may see further rise with the more stringent environmental regulations and the policy drive to reduce overcapacity. Against the backdrop of such favorable conditions, Aluminium China is taking place at SNIEC on 19-21 July, 2017. The event has been the industry barometer over the past 13 years making new breakthroughs and attracting attention by all industry players. International Visitor Program To enhance overseas visitor experience, expedite the process of entering the exhibition venue, and ensure personalized & professional service before and during the...
LME aluminium prices climbed higher drawing support from a vulnerable US dollar index that has been on a decline since the beginning of this week. The light metal contract rose by 0.74 per cent from Tuesday’s close of US$1,943 per tonne to end at US$1,957.50 per tonne on Wednesday, April 26. Shanghai Metals Market (SMM) predicts that the LME aluminium will rise further up to US$1,955-1,985 per tonne on Thursday, April 27. As on April 26, LME official cash buyer price of aluminium stands at US$1,957 per tonne, cash seller & settlement price is US$1,957.50 per tonne, 3M buyer price is US$1,963.50 per tonne, 3M seller price is US$1,964 per tonne, Dec1 buyer price is US$2,000 per tonne, and Dec1 seller price is US$2,005 per tonne. The current LME official Opening Stock of aluminium is...
The Aluminum Association released the 2017 edition of the North America Aluminum Industry Plant Directory and the North America Aluminum Industry Extrusion Press Directory. The Plant Directory covers 485 plants while the Extrusion Press Directory covers 204 plants, operating 538 extrusion presses, in North America as of April 2017. This updates previous directories last published in 2014. The directories provide plant location, types of products produced, contact information and affiliated websites. The Press Directory includes information on extrusion presses by size (tonnage), as well as finishing and fabrication services offered by extruders. A download includes this information in both Excel and PDF format. Both directories highlight membership in the Aluminum Association with green...
LME aluminium prices find support at US$1,931 and rises to US$1,943 per tonne after night trading on Tuesday, April 26. The 0.77 per cent rise from the previous close of US$1,928 per tonne on Monday, April 24, can be explained by the fact that the US dollar index is hovering near its five-month low and is showing little signs of ticking up. Reuters' analysis states, LME aluminium may test next support at US$1,955 per tonne, and has a good chance of breaking below this level and falling more towards US$1,946 support. According to Shanghai Metals Market (SMM) forecast, LME aluminium is likely to move at highs of US$1,950-1,975 per tonne on Wednesday, April 26. As on April 25, LME official cash buyer price of aluminium stands at US$1,942 per tonne, cash seller & settlement price is...
China's aluminium output in 2017 will grow at 10.3 per cent rate compared to production in 2016, the China Non-Ferrous Metals Industry Association (CNIA) reported. The CNIA data shows there will be a surplus of 230,000 tonnes of aluminium in China market this year unlike in the global aluminium market where a deficit situation is predicted to continue. China is presently undergoing extensive reforms as far as smelter operations are concerned. The government of Xinjiang has stepped up inspection activities all over the region to stop production at aluminium projects that violate rules. This has resulted in massive capacity cuts with Xinjiang Jiarun Resources closing 20,000 tonnes of capacity, and Xinjiang Qiya Aluminum and Sichuan Qiya Aluminum suspending work at their newly installed...
Alcoa Corporation has reported first quarter 2017 results and the company reports sequential growth in profits on stronger alumina and aluminium pricing and a solid cash position. Alcoa reports a net income of $225 million and an adjusted net income of $117 million. Adjusted EBITDA of $533 million was up 59% sequentially driven by higher alumina and aluminium pricing. Revenue of $2.7 billion, up 5% sequentially, reflecting increased alumina and aluminum pricing Company continues to expect full-year 2017 adjusted EBITDA, excluding special items, between $2.1 billion and $2.3 billion. The Company expects full-year 2017 adjusted EBITDA, excluding special items, between $2.1 billion and $2.3 billion. Commenting on the results, Roy Harvey, Chief Executive Officer of Alcoa said, “Alcoa is off...
LME aluminium prices are fluctuating in a very narrow range. The light metal contract which closed at US$1,932.50 per tonne on Friday, April 21, dropped 0.23 per cent to end at US$1,928 per tonne on the first trading day of the week. Reuters' analysis has it that LME aluminium may break a resistance at US$1,931 per tonne to inch slightly up to the next resistance at US$1,964, to stage a bounce from the April 18 low of US$1,892. The metal may peak around US$1,964 before starting to drop, the analysis shows. According to Shanghai Metals Market (SMM) forecast, LME aluminium should log higher at US$1,935-1,965 per tonne on Tuesday, April 25, with strong support at the 5-day and 20-day moving averages. As on April 24, LME official cash buyer price of aluminium stands at US$1,927.50 per tonne,...
Hong Kong Exchanges and Clearing Limited (HKEX) and the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX, are pleased to announce the appointment of Matthew Chamberlain as Chief Executive of the LME effective immediately subject to the approval of the Financial Conduct Authority (FCA) of the UK. Mr Chamberlain will remain on the LME Board and will continue as a member of HKEX’s Management Committee. Mr Chamberlain has been the interim Chief Executive since January 2017 and was previously the Chief Operating Officer and Head of Strategy of the LME, and co-Head of Business Development across the LME and LME Clear. During his time at the LME, Mr Chamberlain has led the LME's warehousing reform process, the new London platinum and palladium pricing administered by the LME and...
The leading global aluminium producer United Company RUSAL Plc announced its first quarter 2017 operating results on a high note. The company's Q1 2017 aluminium sales totalled 985 thousand tonnes, up 6.8 per cent from the previous quarter. Value added product (VAP3) sales rose by 7.8 per cent QoQ to stand at thousand tonnes. RUSAL attributes the total quarter-on-quarter sales dynamics to the increased level of inventories in the last quarter of 2016 which were subsequently sold out in the first quarter of the current fiscal. On the production side, RUSAL failed to outdo its last quarter figures. Total aluminium production in Q1 2017 was estimated at 910 thousand tonnes, down 2.1 per cent from Q4 2016; the aluminium smelters in Siberia represented 94 per cent of the company's total...
