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 prices on India's Multi Commodity Exchange inched higher by 0.09 per cent to INR115.35 per kg in the futures market today as speculators were seen building up fresh positions amid an uptick in spot market demand. At MCX Mumbai, official price of aluminium for delivery in January 2017 edged higher by 0.09 per cent to INR115.35 per kg, in a business turnover of 28 lots. market watchers said that participants creating fresh positions in the midst of increased demand from end user industries in the physical market, mainly influenced the rise in aluminium prices at futures trade.
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LME aluminium opened weakly on the first trading day of 2017 to close at US$1,702 per tonne after Tuesday's night trading. The price drop though marginal by 0.67 per cent from the previous closing of US$1,713.5 is expected to persist over the short term. Market will see a slight economic data calendar on Wednesday. Shanghai Metals Market forecasts that LME aluminium will fluctuate within the range of US$1,680-1,700 per tonne on Wednesday. As on January 3, LME official Cash buyer price of aluminium stands at US$1,701 per tonne, cash seller and settle price is US$1,702 per tonne, 3M Buyer price is US$1,692.5 per tonne, 3M Seller price is US$1,693 per tonne, Dec1 Buyer price is US$1,735 per tonne, and Dec1 Seller price is US$1,740 per tonne. The current LME official stock of aluminium is...
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According to sources privy to quarterly pricing talks, premiums for aluminium imported into Japan during the first quarter this year are set at US$95 per ton. The sources, who spoke to Reuters on condition of anonymity, indicated that the rise in spot premiums due to production problems at Alcoa’s smelter in Portland, Australia, prompted the move. This increase in premiums, which is a 27 per cent increase over last quarter’s premiums, is the first increase in the last three quarters. “We’ve signed the deals at $95 a ton with four producers,” revealed a source from an aluminium end user. Another source, this one from an aluminum producer, told the media that all of his firm’s Japanese customers contracted for delivery at US$95 per ton. The talks, which began last month among buyers and...
The aluminium futures contract traded on the Multi Commodity Exchange (MCX) continues to remain range-bound and mixed for the fourth consecutive week. The sideways consolidation in the range between INR115 and INR119 per kg remains intact. The contract is currently hovering around the lower end of this range at INR115.25. Whether the contract manages to sustain above INR115 or breaks below it will decide the next leg of move. Traders can stay out of the market and wait for a clear trend to emerge for taking trade positions. A bounce in the coming sessions will see the contract retaining its INR115-INR119 range for some more time. In such a scenario a rise to INR119 is possible in the coming days. If the contract manages to break the range above INR119, the up move can extend to INR122 and...
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EGA has announced that they have applied for patent for the preheating frame for anode assemblies by their in-house experts which enables safe and rapid preparation of cells for preheating and allows achieving low energy consumption after start-up. For leading primary aluminium producers, such as Emirates Global Aluminium (“EGA”), a key operational focus has always been on improving safety, productivity and energy-efficiency. This quest has been a fundamental motivator for an ongoing commitment to continuous innovation at EGA and which, through substantial investments in research and development, has yielded a host of inventions and technology advances. To protect the associated intellectual property, EGA submits applications to patent its proprietary developments. The business has been...
Southland's Tiwai Point aluminium smelter which employs 800 people and brings $500 million annually to the region's economy now has an options in its power contract to terminate its contract with the power provider by giving one year’s notice. However, the smelter is expected to be operating despite the shutdown clause. The LME aluminium price has more or less stabilized recovering from constant lows and and the New Zealand dollar has dropped from unsustainable highs, which in turn is expected to help the company to break even on a daily basis. Once the company's results for 2016 are released in the next few months, it may give a clear indication of its future. However, it is almost certain that the plant is not going to shut down in the short to medium term. Power supply to the Tiwai...
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As the London Metal Exchange market resumes business today, on January 3, the first trading day of 2017, aluminium traded on the board is expected to fluctuate between US$1,680-1,700 per tonne after the closing at US$1,685 per tonne last Friday. Looking at the key macroeconomic indicators, regular data, including the US’s nonfarm payroll report and manufacturing PMIs, will be released on Tuesday. The market summary for 2016 will further lay the base for further trading to be conducted during the first week of the New Year. Shorts and longs are expected to invest cautiously, and base metals are expected to trade in a wide range this week, observes Shanghai Metals Market. In China, the benchmark price of aluminium on Tuesday stood at US$1,839 per tonne, down 1.6 per cent from Friday's...
As reported by Shanghai Metals Market (SMM), railway transportation of aluminium ingot from Northwest China will not be affected during the Chinese New Year Holiday in 2017. An article titled “Notice of Railway Transportation Adjustment during the 2017 Chinese New Year Holiday” triggered worries but later SMM assured that the news on railway transportation was not true. Last year, China’s rail transport faced a lot of challenges during the Holidays, but this year, railway transportation of aluminium ingot, coal and corn will not be affected though priority will be given to commuters. Urumqi Railway Station did not get any halt notice about railway transportation during New Year holiday in 2017.
In a New Year press release by London Metal Exchange on December 31 confirmed that warehouse firms within LME’s network of more than 600 warehouses in 37 locations have announced lower rent rises for the Fiscal Year starting in April. This was the final chapter of the three-year series of changes at the 139-year-old metal exchange that was initiated five years back. LME said that, in 2017, it would freeze the maximum rate for five years to curb surging costs. It is to be noted that the new reforms also introduced tough rules to slash delivery backlogs. LME-approved warehouses are owned in parts by Henry Bath, trading house Mercuria and also by Chinese logistics company CMSTD, Metro International Trade Services, which was bought by investment firm Reuben Brothers and Steinweg Group in...
After the 2017 New Year holiday weekend, the London Metal Exchange market resumes trading tomorrow on Tuesday, January 3. LME aluminium remained flat on Friday as trading was muted due to the year-end liquidity crunch. The contract at the end of the year's last working day closed at US$1,713.50 per tonne against the previous day's closing of US$1,730 per tonne. Going by the slow momentum in the market, little uptick is expected in the LME aluminium price on Tuesday. As on December 30, the LME official Cash Buyer price of aluminium stands at US$1,730 per tonne, Cash Seller & Settlement price is US$1,713.50 per tonne, 3M Buyer price is US$1,701 per tonne, 3M Seller price is US$1,701.5 per tonne, Dec1 Buyer price is US$1,713 per tonne, Dec1 Seller price is US$1,718 per tonne. The opening...
Aluminium prices weakened by 0.17 per cent to INR 116.10 per kg in futures market today as traders trimmed their positions, taking negative cues from spot market on subdued demand. At the Multi Commodity Exchange, aluminium for delivery in January month declined by 20 paise, or 0.17 per cent, to INR 116.10 per kg in business turnover of 48 lots. Likewise, the metal for delivery in December contracts traded lower by 10 paise, or 0.09 per cent, to INR 117.10 per kg in 75 lots. Market analysts said that offloading of positions by participants following sluggish demand from consuming industries in the physical market, mainly influenced aluminium prices at futures trade.
Indian government’s demonetization move is showing positive impact on the mines and the metals, power, and coal sectors, reveals latest data. Aluminium production in the country has logged a month-over-month rise in November this year. The production of aluminium metal by NALCO shows 3.34% growth in November, as against October2016. November 2016 witnessed a growth in aluminium production at 32164 million tonne (MT) as compared to 31123 MT in November 2015. Coal Production also witnessed a significant growth in November over October after demonetization. State owned Coal India Ltd witnessed a 5.5% y-o-y growth in November 2016 as compared to -2% in October. A month before demonetization, the growth was 0.33% in October 2016. Nalco’s production of aluminium metal has risen at 32,495 MT as...
The year-end liquidity crunch is getting reflected way too acutely on the LME aluminium prices, and this is evident from the falling prices of the metal on the bourse. LME aluminium closed at US$1,713 per tonne after Thursday's night trading, down 0.78 per cent from the previous day. Today happens to be the last trading day of the year, and Shanghai Metals Market analysis predicts the contract will keep falling on Friday moving at US$1,670-1,690 per tonne range. “Trading is estimated to be light during the last trading day of 2016, with small falling room,” SMM says. Crude oil, one of the key macroeconomic factors, hit highest the level since July 2015 on hopes of supply cut. So, analysts are expecting global aluminium prices will improve in the new year. Light sweet crude futures for...
Japan’s aluminium industry is import based and it has stopped producing primary metal altogether shifting its focus towards value added applications and in secondary recovery. The country is Asia's top importer of aluminium and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange cash price set the benchmark for the Asia region. {newsStudioGallery} The two major aluminium product manufacturers in Japan are Kobe Steel and Aluminium and UACJ Corporation who make aluminium plates, pre coated sheets and various rolling products for value added applications. Japanese buyers purchase aluminium via annual contracts as well through spot markets where premiums have dropped to their lowest in more than seven years. However, most of end-users keep...
As per IRNA report, Germany and China opens up line of credit for the development of aluminium plant in Jajarm city, northern Khorasan province, Iran. Mehdi Karbasian, Deputy Minister of Industry, Mine and trade announced on Wednesday that these two countries opened credit line after signing an agreement to invest in graphite electrode in Ardakan city as well. Karbasian added that after the enactment of Joint Comprehensive Plan of Action (JCPOA), worldwide companies have started forming joint ventures with the Iranian partners in the country’s mine sector. Since 10 to 12 years ago a technical gap was created in Iran’s mine sector; it was then that many mining international companies had detached themselves from the Iranian partnerships. He further explained that aluminium plant project...
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Emirates Global Aluminium (EGA) announced yesterday that it is expanding its operations in America. The decision comes at a time when the newly elected Trump government in the United States has pledged to revive the domestic core industries such as metal production and product manufacturing on the back of foreign investments. EGA, owned equally by the Abu Dhabi government-owned Mubadala Development and Investment Corporation of Dubai, has doubled its market size in the US over the last few years. With the planned expansion, it now aims to cash in on this opportunity while catering to the rising demand in the US. One of the world’s biggest aluminium producers, EGA has opened a bigger office at St Louis in Missouri under the Dubal America name. It launched its first office in the country in...
The London Metal Exchange market after remaining closed over the weekend till Tuesday, for Christmas, resumed trading yesterday on a low note. Aluminium traded on the bourse closed at US$1,726.5 per tonne after Wednesday's night trading, down 0.77 per cent from the previous closing of US$1,740 per tonne on Friday. The contract dropped below the 60-day moving average and is expected to range between US$1,695-1,720 per tonne on Thursday, December 29. “LME base metal market reported weak price after returning from Christmas holiday, and overall sentiment is expected to remain weak due to tight year-end liquidity and low trading sentiment before year-end,” says Shanghai Metals Market analysis. LME Aluminium price has risen from the lows of 2015 (around US$1,400 per tonne) to a fairly high...
2016, for the global primary aluminium industry, was the year of price stabilization (rising from the 2015’s lows), surging aluminium exports from China, increasing surveillance by the industry bodies on improper international trade practices, downfall of the once influential U.S. primary aluminium industry and shifting trend towards downstream value-addition. But, of all the challenges that kept cropping up throughout the year, environmental sustainability remained the top priority area for all stakeholders in the primary aluminium ecosystem. From boardroom to laboratory, people were found making concerted efforts to make the aluminium production process less hazardous and more energy efficient so that carbon footprint could be reduced and cost could be optimized. {newsStudioGallery}...
