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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The U.S. dollar fell against the euro and other major global currencies on Tuesday, January 31, extending its year-to-date decline after Peter Navarro, the newly elected head economic policy advisor to President Donald Trump called Europe’s currency "grossly undervalued." The dollar nosedived to its lows buoying up LME aluminium prices which have been sliding downward over the last one week. The contract finally gained some strength and closed at US$1,821 per tonne after Tuesday's night trading, logging a marginal rise of 0.77 per cent from the previous day's closing of US$1,807 per tonne. The ICE U.S. Dollar Index DXY +0.15 per cent, which had traded as high as 100.43 prior to Navarro's comments, fell 0.8 per cent to 99.62. LME aluminium is expected to find support at its current level...
When Arun Jaitley, India’s Finance Minister rises to present the Budget for 2017-2018 today, February 1, he faces almost the same challenge for the third time: to convince the country that the Budget would propel the economy towards the much awaited “better days” his government had promised for three years ago before coming to power. This year, the task happens to be even more uphill given the setback India received due to the Union government’s recent demonetization drive. However, fiscal consolidation is not the only theme that is going to be the focus area of this year’s Budget, it has to revive investments and at the same time, boost sectors like manufacturing to push job creation on an immediate basis. This is where aluminium industry can expect to get some extra support from the...
Aluminium Stewardship Initiative (ASI) has announced that Aluminium Federation of South Africa (AFSA) has joined the organization as an Associations member. The Aluminium Federation of South Africa (AFSA) is an active aluminium industry association and has, since 1981, been involved in increasing the awareness and use of aluminium in Southern Africa. It offers its members a wide variety of services, the most notable of which are technical information and advice, education, training and skills upgrading, a range of publications and market industry and business development support, including engagement with the authorities on trade and environmental issues. The Aluminium Federation of South Africa (AFSA) is the voice of and the gateway to, the South African Aluminium Industry. “AFSA has...
Primary aluminium is the most significant power-consuming industries in Iceland. There are currently three aluminium smelters in operation with a total capacity of over 800,000 mtpy, which puts Iceland at the 11th position among aluminium-producing countries worldwide. The three aluminium smelters in Iceland are in Reyðarfjörður, East Iceland, owned by Alcoa, on Grundartangi near Akranes, West Iceland, owned by Norðurál , a wholly owned subsidiary of U.S.-based Century Aluminum and in Straumsvík near Hafnarfjörður, Southwest Iceland, owned by Rio Tinto Iceland. Iceland’s three smelters contributed 38%of the $15.6 billion economy’s total exports in 2015. The smelters tap cheap power from the north Atlantic island’s vast stores of geothermal and hydro-power. They have secure power supply...
Aluminium prices were up by 0.12 per cent to INR 122.35 per kg in futures trading today on India's prime commodity exchange as speculators built up fresh positions amid uptick in demand in the spot market. At Mumbai's Multi Commodity Exchange, aluminium for delivery in current month rose by 15 paise, or 0.12 per cent to INR 122.35 per kg in business turnover of 88 lots. Image Courtesy: www.moneycontrol.com The metal for delivery in February contracts, however, held steady at INR 122.40 per kg in 94 lots. Analysts said that fresh positions created by participants due to pick up in demand from consuming industries in the physical market, mainly helped aluminium prices to trade higher at futures trade.
Century Aluminum has filed an antitrust lawsuit in federal court against Santee Cooper, its power provider. The company accuses the power provider of breaching state and federal antitrust laws to which Santee Cooper assures "vigorous defense." Michael Bless, Century Aluminum Company’s President and Chief Executive Officer said that they had to proceed with the lawsuit because all other attempts including a recent final face-to-face attempt to reach resolution with Santee Cooper had failed. “We have filed this antitrust lawsuit against Santee Cooper as a last resort to save 600 jobs and the nearly $1 billion in economic contributions to the state of South Carolina made by the Mt. Holly plant.” he said. As said by Century Aluminum, Santee Cooper unlawfully pushed the Mt. Holly smelter to...
Aluminium prices softened by 0.28 per cent to INR 123.75 per kg in futures trade today as speculators reduced exposure in view of ending monthly expiry amid easing demand in the spot market. At the Multi Commodity Exchange, aluminium for delivery in January declined by 35 paise, or 0.28 per cent to INR 123.75 per kg in business turnover of 112 lots. Image Courtesy: www.moneycontrol.com Likewise, the metal for delivery in February contracts was trading lower by a similar margin to INR 123.60 per kg in 20 lots. Analysts said offloading of positions by participants ahead of monthly expiry coupled with slackened demand from consuming industries in the physical market led to decline in aluminium prices at futures trade.
Donald Trump's isolationism seems to have hurt optimism over pro-business initiatives in the US rather badly. The S&P/ASX200 headed lower at the opening, adding to Monday's falls. The benchmark index was down 0.54 per cent to 5,632.30 at 1038 AEST (1038 GMT, on Monday), reported Bloomberg. Effect on base metals was mixed. LME aluminium ended further lower at US$1,807 per tonne after Monday's night trading, down 1.09 per cent from the previous day's closing of US$1,827 per tonne. Major markets in China remains closed for the Lunar New Year Holiday. Trading will resume on February 3. As on January 30, LME official cash buyer price of aluminium stands at US$1,806 per tonne, cash seller & settlement price is US$1,807 per tonne, 3M buyer price is US$1,810 per tonne, 3M seller price is...
The last week has been marked by a quick gain in all the major indices (SENSEX & NIFTY) and Nifty Metal index outperforming the major indices by a good margin, recording gains of 6%. The current week stock market activities are expected to be driven mostly by the details provided by the Finance Minister, Arun Jaitley from Wednesday morning which is the budget day for the next Financial Year. The Finance Minister’s budget will set the tone for the metal market as there is no major trigger working at present and the market participants are ignoring poor earning considering positive budget expectations. The Indian Metal industry is expecting few announcements which will cheer up the industry. As for the aluminium industry is concerned; the expected announcement of Minimum Import Price (MIP)...
A filing with the U.S. Securities and Exchange Commission confirms that Century Aluminum has completed the sale of its Ravenswood smelter to Applied Partners Inc. for about $15 million. Both the companies signed a sale agreement on Dec. 2 and all the official formalities were completed on Friday. Applied Partners, a firm based in Delaware, would house one of its own subsidiaries on the site and make rest of the lots available for other companies. Allied Partners is a leading development company that specializes in buying idle commodity assets and preparing them for physical reuse and economic renewal in future. Earlier, applied Partners President Mark Cenit praised property and the surrounding locality of West Virginia and appreciated the cooperation his company has received from local...
LME aluminium after scaling a nine-month high on Tuesday, last week, January 24, has been easing out due to a light trading sentiment. The contract has fallen by 2.29 per cent from the mid-week high of US$1,870 per tonne. On Friday, January 27, LME aluminium closed at US$1,827 per tonne after night trading, down 0.59 per cent from the previous day's closing of US$1,838 per tonne. The monthly chart of US dollar index has been throwing up some bullish indications. In the coming days too, the index is expected to move up. If that happens, LME aluminium will dip further moving in the range of US$1,810-US$1,830 per tonne. Another indicator, the crude oil finished lower on Friday, last week. The futures logged a modest weekly loss, as investors turned their attention to rising production in the...
2017 has unveiled itself with positive expectations for the aluminium industry when LME aluminium prices hit 20-month peak in January at US$1870 per ton in anticipation of capacity cut in China, supported by retreating dollar. The second month of the year unfolds a number of significant events from the recycling, end user and aluminium processing sector. Aluminium metal processing is getting much advanced with the application of latest technologies. Events that cover aluminium metal processing and the end user application are going to draw a good amount of visitors and industry participants in 2017. We are giving a list of the top aluminium events from the month of February, so that you can block your dates for the events. 1. The Packaging Conference (TPC) Date: 6 th –8 th February, 2017...
Industrial automation has changed the face of global aluminium industry. From optimizing power conversion systems and re-tuning engineered power utility interfaces to equipping plants with cutting-edge statistical quality control systems, leading automation providers have helped the otherwise energy-intensive industry address its power consumption issues more effectively while ensuring enhanced precision in product manufacturing. With the increased use of mechanized equipment and logical programming commands human error in decision making and manual command-response activities has been reduced to the lowest. Be it in primary aluminium production or in extrusions manufacturing or 3D printing with aluminium, automation has added a whole new dimension to the lightmetal engineering. Following...
Boyne Smelter Limited is in the process of determining the number of job cuts and production reduction at its facility in Australia. The aluminium company, unable to cope with the surging electricity costs, is mulling downsizing, reported sources aware of the matter. This comes at a time when aluminium has made a comeback from its yearlong downturn in 2015-2016. The metal, on London Metal Exchange, surged to touch a nine-month high at US$1,870 per tonne on Tuesday, January 24. Yet, Boyne Smelter seems to see little hope in the development. Joe Rea, general manager of the Australian aluminium company said the dwindling market condition of aluminium has already made it difficult for the smelter to perform well on the global market- hence, the decision to cut production as well as jobs. Last...
LME aluminium has eased out after rising to record highs on Tuesday, January 24. The contract closed at US$1,838 per tonne, down 0.59 per cent from the previous day's closing of US$1,849 per tonne. As per Shanghai Metals Market's earlier prediction, the contract is likely to hover in the range of US$1,810-1,840 per tonne in the short term. As on January 26, LME official cash buyer price of aluminium stands at US$1,837 per tonne, cash seller & settlement price is US$1,837.5 per tonne, 3M buyer price is US$1,838 per tonne, 3M seller price is US$1,840 per tonne, Dec1 buyer price is US$1,870 per tonne, and Dec1 seller price is US$1,875 per tonne. The current LME official Opening Stock of aluminium is estimated at 2290075 tonnes, total Live Warrants is 1634200 tonnes, and Cancelled Warrant is...
LME aluminium fell after Wednesday's night trading to US$1,849 per tonne, down 1.12 per cent from the previous day's price of US$1,870 per tonne. Analysts opine a faltering crude oil is responsible for the marginal decline in the metal price. According to Shanghai Metals Market forecast, the contract will move at US$1,810-1,840 per tonne on Thursday, January 26. As on January 25, LME official cash buyer price of aluminium stands at US$1,848.5 per tonne, cash seller & settlement price is US$1,849 per tonne, 3M buyer price is US$1,844 per tonne, 3M seller price is US$1,844.5 per tonne, Dec1 buyer price is US$1,873 per tonne, and Dec1 seller price is US$1,878 per tonne. The current LME official Opening Stock of aluminium is estimated at 2284725 tonnes, total Live Warrants is 1635675 tonnes,...
As reported by Bloomberg, China’s proposal to curtail metal production in winter in order to control air pollution may cause shortages of alumina but will have little impact on aluminium supply, as explained by one the top industry bodies in China. The proposal will cause production suspension in alumina refineries in three provinces which would curtail about one fifth of China’s total alumina capacity. The halts to aluminium production will be less because of its high demand in a number of end user applications. According to the plan, about one tenth of the country’s total aluminium capacity would be targeted by this halt, across Hebei, Shandong, Henan and Shanxi provinces. As confirmed by sources, a draft was circulated by the Ministry of Environmental Protection in the beginning of...
A number of analysts downgraded shares of Century Aluminum Company in 2016 after its negative performance in Third Quarter results. However, after the U.S. election results were out, the shares of the company, traded on the Nasdaq under ticker CENX, had been on a steady rise. During the current week, the shares of Century appreciated over 24%. Century Aluminum Company operates three U.S. aluminium smelters, in Hawesville, Kentucky, Robards, Kentucky, and Mt. Holly, South Carolina, and one smelter in Grundartangi, Iceland. The company announced partial curtailment of production at the Hawesville facility in 2016. Century’s primary aluminium facilities produce standard grade and value-added primary aluminium products. The company blamed overcapacity in China as one of the factors for their...
