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 price remained unchanged as it closed at US$1,929 per tonne after night trading on Monday, April 10. The light metal, despite indications of a potential reversal, is taking time to gather momentum. Shanghai Metal Market (SMM) says LME aluminium will regain its lost ground and move at US$1,910-1,950 per tonne range on Tuesday, April 11. As on April 10, LME official cash buyer price of aluminium stands at US$1928.50 per tonne, cash seller & settlement price is US$1,929 per tonne, 3M buyer price is US$1,940 per tonne, 3M seller price is US$1,940.50 per tonne, Dec1 buyer price is US$1,977 per tonne, and Dec1 seller price is US$1982 per tonne. The current LME official Opening Stock of aluminium is estimated at 1802800 tonnes, total Live Warrants is 1007875 tonnes, and Cancelled...
A global mining and metals company South32 announced yesterday 10 April, that the company signed a three-year strategic partnership agreement with GE, the world's Digital Industrial Company, in Sydney. The partnership will help in the development of South32’s technology roadmap and activation of the Company’s digital transformation. Graham Kerr, CEO of South32, commented: “Bringing the world of operational technology and information technology together to monitor equipment and systems remotely and predict future behaviour is a game changer. It has the potential to identify and solve a problem before it affects operations.” Through this agreement, the company will use GE’s Predix platform which is designed for industry and connects industrial equipment, data analysis and instant insights....
Rating agency ICRA projected that the long- term demand for base metal would continue to be positive in India. The government’s investment on infrastructure projects for the smart city plan would drive the demand for base metals such as aluminium, copper and zinc. According to the report of ICRA, "In the long-term, demand of base metals in India remain positive, driven by investments in infrastructure projects for the power transmission and distribution sector, urban housing and smart city programmes of the government." In the first nine months of the financial year 2017, the rise in consumption of aluminium remained at 10 per cent because of the demand from the power transmission and distribution and the automobile sectors. ICRA said the growth in consumption of domestic primary...
Turkish aluminium industry is characterized by the presence of a large number of international and regional manufacturers of downstream aluminium products and a single producer of primary aluminium- Eti Aluminium. The only integrated producer of primary aluminium in the country, Eti's production volume (annual capacity: 82,000 tonnes) falls considerably short of the demand that is there in the domestic market. Hence, key consumer sectors namely construction material manufacturers, automotive OEMs, and packaging companies have to rely majorly on imports of primary (non-alloyed) aluminium and alloyed aluminium ingots as raw materials for their production units. {newsStudioGallery} Turkey’s aluminium import in last three years peaked in 2016, when the total volume imported reached 1.05...
LME aluminium ended the last week in a drop falling 1.38 per cent from its previous close of US$1,956 per tonne on Thursday, April 6 to US$1,929.50 per tonne on Friday, April 7. The US dollar index which was hit slightly by Syria strike effect rose late Friday extending its weekly gains. The rising greenback put downward pressure on the base metals. This week, LME aluminium price is expected to stage a reversal and hover at highs in the range of US$1,950-1,980 per tonne, analyses Shanghai Metals Market (SMM). Reuters says LME aluminium is biased to approach a resistance at $1,970 per tonne, as suggested by its wave pattern and a Fibonacci projection analysis. As on April 7, LME official cash buyer price of aluminium stands at US$1,929 per tonne, cash seller & settlement price is...
Winter is over and the spring has slowly started putting colours in nature’s landscape. Positive trends in the global aluminium market, news of alumina and aluminium capacity cut in China and a stable US dollar have made April the perfect time to attend some of the major global events. Here are a few significant events worth attending to leverage on the positive market trends and form business relationships: 1. 121st Metalcasting Congress Date: 25 th –27 th April, 2017 Location: Milwaukee, WI, USA The AFS Metalcasting Congress is an annual technical conference and trade show event that brings together suppliers, foundries and casting customers under a single umbrella for the biggest industry event of the year. This conference will include Technical Presentations, Roundtable Discussions,...
One of China's major aluminium producing companies Yunnan Aluminium Co Ltd., posted a net profit of 111 million yuan for the full year ended March 31, 2017. The profit rose 276.03 per cent from the previous year despite the fact that the primary producer had agreed on cutting production in a China Nonferrous Metals Industry Association (CNIA) meeting held last year in June. Yunnan Aluminium's earnings per share for the financial year stood at 0.05 yuan. As per the company's official disclosure, profit from aluminium ingot increased by 110.57 per cent from the corresponding period previous year. The downstream division producing aluminium processing products registered a profit growth of 270.30 per cent year-on-year. Yunnan Aluminium's total revenue for 2016 was estimated at 15.543 billion...
The government of India may start the process of commercial coal mine auction once it receives public feedback on the discussion paper floated by the coal ministry. These mines will not be restricted to any particular end use of the coal. The private miners will be able to manage production, pricing and marketing strategy of the allotted mines independently. “We have recently put out a draft on commercial mining of coal on the website and invited public comments. Once we receive public comments (we will auction these coal blocks for commercial mining). We have also almost identified the coal blocks for the purpose,” Power, Coal, Mines and New and Renewable Energy Minister Piyush Goyal told reporters at a conference of coal quality. Goyal further said, “There will be big as well as small...
LME aluminium price declined in tandem with other base metals during night trading on Thursday, April 6. The contract dropped 0.30 per cent from its earlier close of US$1,962 per tonne on Wednesday to stand at US$1,956 per tonne on Thursday. The decline in the light metal price reflects a limited diversion from the US dollar index which was pushed down by the risk-averse market sentiment after the US launched cruise-missile attack on Syria. However, experts believe that the attack is going to have a feeble effect on the base metals. As per Shanghai Metals Market projections, LME aluminium will keep fluctuating between US$1,940-1,975 per tonne on Friday, April 7. As on April 6, LME official cash buyer price of aluminium stands at US$1,955.50 per tonne, cash seller & settlement price is...
According to a Reuter’s report, a base metals buying and selling platform for physical spot delivery launched by German company Metalprodex in 2016 is expanding into metals trading using price premiums. "Price premium trading contracts have now been launched covering all primary aluminium, lead, zinc and copper products as well as all semi-finished products," Metalprodex managing director Janko Linhart told Reuters on Wednesday. Metalprodex was launched in the last quarter of 2016 as an electronic trading platform for delivery of physical metal within two days. The platform officially started trading activities in aluminium, copper, lead and zinc in 25-tonne lot sizes, he confirmed. The report also confirms that the platform will facilitate trading of semi-finished products such as...
After dropping down to US$1,938 per tonne on Tuesday, April 4, LME aluminium closed at US$1,962 per tonne on Wednesday, April 5, registering 1.2% rise from last closing price. As seen by SMM, LME aluminium will move at highs on Thursday and will fluctuate between USD 1,950-1,990 per tonne. According to Reuter’s analysis, LME aluminium may retest a resistance at $1,978 per tonne and may gain further to $1,992, if it breaks above the resistance mark. The resistance is provided by the 214.6% Fibonacci projection level of an uptrend from the March 14 low of $1,855. If LME aluminium hovers long below the resistance, the price will fail to reach the peak of $1,992. LME will find support at $1,956, a break below which could cause a loss to $1,948. As on April 5, LME official cash buyer price of...
Alba has reported production and sales results for the first quarter of 2017. Aluminium Bahrain started 2017 with strong sales and production volume registering an increase of 4.9% and 5.6% YoY respectively. Sales volume in the first quarter of 2017 totalled 242,932 tonnes compared to 231,538 tonnes in Q1 2016 while production volume totalled 248,776 tonnes, an increase of 13,298 tonnes in comparison with 235,478 tonnes for the same period in 2016. Commenting on Alba’s Sales volume and Production for Q1 2017, Alba’s Chief Executive Officer, Tim Murray said: “We are pleased to finish the first quarter of 2017 with this strong volume momentum in our Sales and Production…We were able to step-up our performance thanks to our plant reliability, integrated marketing approach and most...
CME Group has reported that March 2017 average daily volume (ADV) reached 16.9 million contracts, up 18 percent from a March 2016. CME Group March 2017 options volume averaged 4 million contracts per day, up 47 percent versus March 2016, with electronic options averaging 2.3 million contracts per day, up 52 percent over the same period last year. Open interest at the end of March was 114 million contracts, up 8 percent from the end of March 2016. Interest Rate volume averaged 8.7 million contracts per day in March 2017, up 36 percent from March 2016. CME Group Metals volume averaged 491,000 contracts per day in March 2017, up 5 percent from March 2016. Reached record first-quarter Metals ADV of 512,000 contracts, up 13 percent. Achieved 24 percent year-over-year growth for base metals in...
LME aluminium is moving downhill. The light metal which was rallying a week ago dropped 0.53 per cent from its previous close of US$1,948.50 per tonne on Monday, to US$1,938 per tonne on Tuesday, April 4. The decline, Reuters analyses, is not going to be a persisting one. The wave pattern and a Fibonacci projection says LME aluminium may end its current bounce around a resistance at US$1,970 per tonne and then fall towards its April 4 low of US$1,936. According to Shanghai Metals Market forecast, LME aluminum will rally to the 10-day moving average and move at US$1,922-1,946 per tonne on Wednesday, April 5. As on April 4, LME official cash buyer price of aluminium stands at US$1,937 per tonne, cash seller & settlement price is US$1,938 per tonne, 3M buyer price is US$1,948 per tonne, 3M...
Aluminium started the year 2017 on a positive note. The light metal traded on the world's biggest commodity exchanges experienced a steady rise till it hit the two-year high of US$1,963 per tonne on March 30. Since then, the uptrend seems to have somewhat lost its steam. Rio Tinto Group chief executive Alfredo Barrios said in a recent interview that the lightweight metal is heading for an “extremely” volatile period. The market is eagerly looking at China as it endeavours to check pollution caused by its domestic aluminium industry players. The uncertainty over when the Asian giant will curb the production of the metal is actually helping to keep the investors on edge. Barrios said, "There’s no doubt that if you look at the supply side, if you look at the environmental issues, sooner or...
The uptrend in LME aluminium price seems to have lost its momentum recently. The contract though inched higher at US$1,948.50 per tonne on Monday, April 3, from its previous day's close of US$1,946.50 per tonne, is likely to break a support at US$1,948 per tonne and fall to the next support at US$1,934 per tonne, analyses Reuters. Over the next few days, LME aluminium may retrace towards US$1,913. A more realistic target for the metal contract could be US$1,934, Reuters forecasts. As on April 3, LME official cash buyer price of aluminium stands at US$1,948 per tonne, cash seller & settlement price is US$1,948.50 per tonne, 3M buyer price is US$1,958 per tonne, 3M seller price is US$1,959 per tonne, Dec1 buyer price is US$1,992 per tonne, and Dec1 seller price is US$1,997 per tonne. The...
After China Hongqiao company was recently sold short by Emerson Analytics , China Hongqiao company bonds were sold off continuously, making the company apply for an emergency suspension, and because the company needs more time to deal with the 2016 annual audit work problems, and the 2016 annual report will be delayed released. In addition, China Hongqiao is applying for duty exemption to avoid $ 700 million offshore loans default clause. On Saturday, the letter on prevention and response to Western countries leading by US to contain China's aluminum industry which is issued by China Nonferrous Metals Industry Association was found on internet. It is heard the letter has been submitted to the Ministry of Industry on March 9th. In the letter Weiqiao Group said the recent short forces from...
A century old Freeport Brick Co., which was bought by Fuzion Technologies in 2005, will shut down on April 30, according to the United Steelworkers union in Pittsburgh. The plant produces fire bricks that line industrial equipment such as kilns and furnaces and supplies to steel mills and aluminium producers. Though Fuzion Technologies declined to comment on the reason of the plant's closure, the steelworkers union attributed it to “financial reasons related to the downturn in the domestic aluminium industry, which results from unfairly traded goods caused by global overcapacity.” Refractory closures over the last two decades have caused tremendous amount of job losses around the U.S. “It's sort of unfair. You have no control over what a company decides to do,” a worker said. “But if they...
