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 prices hovered at lows last week weighed on by a strong dollar. On Friday, the lightmetal rebounded on renewed fears over the Chinese supply cuts but ended low at US$1,877 per tonne, down 29.2 per cent from the previous day's closing at US$1,882 per tonne. Reuters technical analysis states LME aluminium may retrace to a support at US$1,872 per tonne as it faces resistance at US$1,889 per tonne. Shanghai Metals Market (SMM) in its forecast says the contract will move at US$1,875-1,895 per tonne range on Monday, February 27. As on February 24, LME official cash buyer price of aluminium stands at US$1,876 per tonne, cash seller & settlement price is US$1,877 per tonne, 3M buyer price is US$1,880 per tonne, 3M seller price is US$1,881 per tonne, Dec1 buyer price is US$1,925 per...
Prebaked anode prices in China’s domestic market rose by about 620 yuan per tonne in January 2017 after Shandong Weiqiao raised its procurement price. SMM finds that the Chinese prebaked anode market has shifted from a seller’s market to a buyer’s market. Domestic prebaked anode prices advanced around 580 yuan per tonne as a whole in January, the highest in recent years. The rising strength is continuing into February. At present, ex-works prices of prebaked anode are 3,200-3,540 yuan per tonne in east China, up 105 yuan per tonne from January's level. SMM attributes the gain to following three factors: First, prices of petroleum coke and coal tar pitch, main raw materials of prebaked anode, have advanced all the way as crude oil and coking coal rose since November 2016. In Shandong,...
Alcoa's Australian partner Alumina Limited has reported a loss of $US30.2 million ($A39.3 million)in 2016, down from a $US88.3 million ($A114.8 million) profit in 2015 driven by restructuring-related write-offs and lower prices and volumes. Alumina Limited holds a 40 per cent stake in AWAC and the company had to pay an impairment charge of $US115 million pertaining to the share as cost for closing down operations. Notably, the Portland smelter in which AWAC has a 55% equity interest is the only remaining aluminium smelting operation in the AWAC portfolio. Alumina Limited and its partner Alcoa have reduced their stake in the Portland aluminium smelter in Victoria by $US126 million ($163.7m). This has caused a value hit of $US229m for the whole smelter also contributed by the higher power...
The UAE-based Emirates Global Aluminium (EGA) has become a member of Aluminium Stewardship Initiative, which brings the world’s leading mining and metals companies together, that sets global standards for governance, environmental and social responsibility. With this EGA has become the first Middle-East aluminium company to join the initiative. Abdulla Kalban, EGA’s Managing Director and Chief Executive Officer said, “Aluminium touches the lives of almost everyone on earth, and the impacts of making aluminium do too. Being a member of the Aluminium Stewardship Initiative will enable us to share what we have learned about governance and environmental and social responsibility, as well improve our performance further.” EGA has spent $1 billion since 2010 in environmental technologies. The...
LME aluminium staged a reversal after falling on Wednesday on news of the FOMC meeting that hinted at a possible Fed rate hike. The contract closed at US$1,882.50 per tonne after night trading on Thursday, February 23. The Federal Reserve has hinted at multiple short-term interest rate increases this year, a sign that the central bank wants to rein in inflation and expects the recent economic growth to continue. Crude oil prices have also spiked after OPEC confirmed that it would stick to its agreement on production cut. These two factors combined have buoyed LME aluminium prices up. Shanghai Metals market (SMM) in its forecast said LME aluminium will test support at the 20-day moving average and will trade at US$1,850-1,880 per tonne on Friday, February 24. LME Price Source:...
Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, has inked a Memorandum of Understanding (MoU) for Joint Co-Operation with Bahrain Polytechnic to support Bahrain's Economic Vision 2030. The MoU was signed between Alba’s Chief Executive Officer Tim Murray and Acting CEO of Bahrain Polytechnic, Dr. Mohamed Al-Aseeri at Alba. Tim Murray said: “Our MoU with Bahrain Polytechnic emphasises Alba’s commitment to support Bahrain's Economic Vision 2030, by equipping young Bahraini nationals with skills that enhance their employability, thereby paving the way for successful Bahrainisation of the Kingdom's labour force.” Alba’s resources would be used to enhance skills of the students. The company will offer job training, internship, employment opportunities to Bahrain...
Talum, a Slovenian company in Kidricevo specialised in alumina and aluminium products, has earned EUR 300m in sales revenue in 2016. Even though the company has generated 5 per cent less vs 2015 despite low aluminium price, the unaudited data shows the company doubles profits to a million euros. Talum chairman Marko Drobnic explained that the company’s new strategy such as a change in the product structure and purchasing and business process optimisation lead the company to success. He commented: "We have been expanding volumes in the higher value added ranges, one of the goals in the strategy set out as early as 2012”. Marko added that negative price trends had continued till final quarter of 2016. After the quarter, the situation enhanced therefore the current prices are above...
The aluminium industry of Australia represents a highly vertically integrated system comprising bauxite mines, alumina refineries and four major aluminium smelters- all operated by the biggest names in the global aluminium industry. In 2015-16, Australia produced 1.6 million tonnes of aluminium creating exports of US$3.8 billion. The country has also been importing a lot of the metal to feed its growing downstream aluminium sector. However, looking at the export-import data for the last three years, it can be easily inferred that the island country remains a net exporter of aluminium. In 2015, Australia ranked as the 4th largest aluminium exporter of the world. Aluminium Export by Australia Australia's aluminium exports have been declining over the last three years. The Kurri Kurri (NSW)...
According to sources in the Japanese market, Russian Federation aluminium major UC Rusal is of the opinion that the second quarter contract premium should be US$125 per metric ton plus London Metal Exchange cash CIF (cost, insurance, and freight) Japan. Such a premium is almost one third above the contract price for the present month of US$95 per metric ton plus LME cash CIF Japan. The sources, who were not identified in the article, went on to say that they are awaiting second-quarter offers from Rio Tinto Japan and South32 before making a purchasing decision. The contract negotiations for the second quarter include P1020/P1020A ingot and certain value-added products. “The question is, will Rio and South32 offer above Rusal?” observed an unnamed Japanese trader. The trader went on to say...
LME aluminium dropped during Wednesday's night trading after remaining unchanged for two consecutive days. The contract closed at US$1,873 per tonne yesterday, down 0.26 per cent from the previous closing of US$1,878 per tonne on Tuesday. According to the Federal Open Market Committee (FOMC) meeting, the Fed is expected to raise rate soon. Shanghai Metals Market (SMM) said in its forecast LME aluminium will "seek a breakthrough" and trade at US$1,870-1,900 per tonne on Thursday, February 23. As on February 22, LME official cash buyer price of aluminium stands at US$1,872.5 per tonne, cash seller & settlement price is US$1,873 per tonne, 3M buyer price is US$1,877per tonne, 3M seller price is US$1,877.5 per tonne, Dec1 buyer price is US$1,920 per tonne, and Dec1 seller price is US$1,925...
CRU Group, the London-based analysis and consultancy firm CRU focuses on the global mining and metals, has scheduled the World Aluminium Conference on 3-5 May 2017 at the Marriott London Grosvenor Square hotel. The World Aluminium Conference 2017 is the CRU’s 22nd edition of the summit. The World Aluminium Conference 2017 will address the aluminium supply, demand and sustainability factor in the aluminium sector. The CRU said, the event also going to cover how environmental and economic strategies interact and the business opportunities created by sustainability. The 2017 conference will interest more than 200 delegates all over the world. The event will provide an update on the outlook for markets, prices and premiums in the aluminium sector. The World Aluminium Conference 2017 comprises...
Australia's recent shift away from thermal power to alternative energy sources to meet a national 20 per cent renewable energy target by 2020 has put aluminium smelters and mineral refining businesses of the country in a complicated situation. The supply uncertainty of electricity is making it difficult for the smelters, which have till date benefited from cheap, long-term electricity agreements with state-owned power companies, to operate profitably. "There is no bigger factor for a smelter than disruption to power supply," said Miles Prosser, executive director of the Australian Aluminium Council. "A disruption for even just a few hours can be almost catastrophic," he said. Australia produces coal more than almost any other country, and that makes it one of the cheapest thermal power...
Aluminium prices on London Metal Exchange remained unchanged at US$1,878 per tonne on Tuesday, though the U.S. dollar strengthened signalling at a possible downward correction in the near term. Crude prices also fell on Wednesday as American crude supplies climbed 9.53 million barrels to reach their highest at 518.1 million. Shanghai Metals Market (SMM) said in its forecast that the contract will fluctuate between the 5 and 10-day moving averages and trade at US$1,875-1,900 per tonne on Wednesday, February 22. As on February 21, LME official cash buyer price of aluminium stands at US$1,877.5 per tonne, cash seller & settlement price is US$1,878 per tonne, 3M buyer price is US$1,889.50 per tonne, 3M seller price is US$1,890 per tonne, Dec1 buyer price is US$1,935 per tonne, and Dec1 seller...
South Africa's manufacturing sector has logged a moderate to slow growth over the last three years. One of the two major smelters in the country- Bayside Aluminium operated by South32, erstwhile BHP Billiton, shut down in 2015. The other smelter, Hillside Aluminium in Richards Bay, has been single-handedly churning out the primary metal for domestic market as well as shipping ingots to the international buyers {newsStudioGallery} In 2015, South Africa exported 484559.76 tonnes of aluminium (alloyed and non-alloyed ingots), which increased to reach 537002.69 tonnes in 2016, up 10.8 per cent from the previous year. In 2017 till October, the country is estimated to ship around 404435.74 tonnes of aluminium to the global market, down 11.7 per cent from the corresponding period previous year....
LME aluminium reversed its 2-day downtrend to rise 0.67 per cent from Friday's closing at US$1,865.5 per tonne to end at US$1878 per tonne after night trading on Monday, February 20. Shanghai Metals Market (SMM) forecasts the contract will rise further at US$1,890-1,916 per tonne on Tuesday, February 21. However, JP Morgan holds a different viewpoint. The multinational banking and financial services company observed in a recent report that LME aluminium prices are at a risk of correction in the near term as surplus Chinese aluminium production is set to flow into warehousesdragging on global prices. As on February 20, LME official cash buyer price of aluminium stands at US$1,877.5 per tonne, cash seller & settlement price is US$1,878 per tonne, 3M buyer price is US$1,887 per tonne, 3M...
National Aluminium Company (Nalco), one of the major primary aluminium producers of India, has decided to acquire 80 per cent of the power from the coal-based power station proposed at Kamakhyanagar in Dhenkanal district, Odisha. The chairman and managing director of Nalco T K Chand stated, “Nalco will be buying 80 per cent of the power which will be used for feeding our planned greenfield aluminium smelter at Kamakhyanagar close to the site chosen for the power station. Rest of the power will be sold by NTPC to other sources. We will shortly form the JV (joint venture) company for the power project”. The 2,400-Mw coal-based power plant is a joint venture between Nalco and NTPC. The project is projected to be cost INR 14,000 crore. The aluminium smelter project and the power project will...
LME aluminium gave up its gains and dropped for two consecutive days last week as the U.S. dollar firmed up. The contract which had risen to hit the 25-week highest at US$1,900 per tonne on February 14 came down 1.81 per cent to close at US$1,865.50 per tonne on Friday after night trading. Shanghai Metals Market (SMM) said in its forecast that LME aluminium will test support at the 10-day moving average and will move in the range of US$1,865-1,895 per tonne on Monday, February 20. As on February 17, LME official cash buyer price of aluminium stands at US$1,865 per tonne, cash seller & settlement price is US$1,865.5 per tonne, 3M buyer price is US$1,878 per tonne, 3M seller price is US$1,879 per tonne, Dec1 buyer price is US$1,923 per tonne, and Dec1 seller price is US$1,928 per tonne. The...
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LME aluminium hit US$1,900 per tonne this week surging 13 per cent so far since January this year. One of the factors supporting the rise has been, of course, the faltering U.S. dollar index. The DXY which measures the greenback’s strength against a basket of six major currencies, plunged on February 15, Wednesday, and the slide followed through Thursday. The other factor supporting the price rise has been aluminium supply concerns arising out of China. There were fewer smelter restarts than expected in the latter half of 2016, production costs in the country have spiralled up, and now, many smelters are being forced to halt operations after coming under the scanner of the government-controlled environment protection authorities. It looks like China is taking air pollution rather...
