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 Vietnamese aluminium market is expanding piggybacking the growth of major end user industries such as packaging. Latest studies reveal Asia will be the biggest consumer market of the light metal in 2017 and South-east Asian countries will drive the growth. The aluminium can market in Vietnam, for instance, is expanding by about 10 per cent per annum rate as a result of population growth and rising living standards. Encouraged by the high traction, investments are flowing in with beverage can manufacturing companies like SDK and SAC aiming to continuously expand their business in Vietnam through a stable and speedy supply of products that meet market needs. To meet this increasing demand, the country is sourcing aluminium (both in alloyed, non-alloyed and extruded forms) from different...
LME market is resuming trading today and LME aluminium is expected to climb higher due to firm Shanghai Futures Exchange prices. But Shanghai Metals Market says any rise will be limited with resistance from the moving averages. LME aluminium prices are expected to hover in the range of US$1,710-1,730 per tonne, says SMM. Looking at the key macroeconomic factors, Dallas Fed’s December Business Activity Index and the US pending home sales in November are going to be released today. The US housing market is positive given the recent uptick in sales; job market is showing slow improvement; and CCI and home prices are rising. Supported by these factors, LME base metal prices are expected to move higher, after opening low on Wednesday, December 28. In China, benchmark price of aluminium on...
After the Directorate General of Safeguard Duty, India has recently rejected the plea by the primary producers to impose extra duty on imports of 'Unwrought Aluminium (Aluminium not alloyed and Aluminium alloys) citing that there is no immediate threat of "serious injury" to the domestic aluminium industry from aluminium imports from China and Middle East, domestic producers are making a strong case for imposing Minimum Import Price (MIP) similar to the steel products. They are getting ready to put up the case during Budget 2017-18. The domestic producers argue that the cheaper imports from China and the Gulf countries which account for 51% of India's demand is forcing domestic producers to idle 49% of their rated capacities. High state subsidies for aluminium smelting in China and ample...
London Metal Exchange market remains closed today for Christmas. So, LME official CASH Buyer price of aluminium, as on December 23, stands at US$1,739 per tonne, Cash Seller & Settlement price stands at US$1,740 per tonne, 3M Buyer price is US$1,718 per tonne, and 3M Seller price is US$1,718.5 per tonne. LME Official Opening Stock of aluminium is estimated at 2139575 tonnes, total Live Warrants is 1501450 tonnes and Cancelled Warrant is 648575 tonnes. Looking at the global key macroeconomic factors, US home prices have escalated steadily; profit in China's major industrial hubs is expected to improve in November on the back of increased value-addition during January-November; November PPI witnessed the largest rise of 3.3 per cent YOY in 3.5 years; and commodity prices also improved in...
Market activity has weakened over the Christmas weekend and will remain muted through the week. The UK and the US markets under London Metal Exchange will remain closed on Monday and Tuesday for the Christmas holidays. LME aluminium inched hiher by 0.14 per cent to close at US$1,740 per tonne on Friday’s night trading. Year-end holiday factors combined with liquidity crunch in the international markets left investors keeping off trading after they were done with profit-making. Hence, commodity prices are expected to fall ‘within a limited range’ this week. In China, benchmark price of aluminium traded on Shanghai Metal Exchange (SME) stood at US$1,811 per tonne on December 26, Monday, down 2.37 per cent from Friday’s benchmark price of US$1,855 per tonne. Aluminium on Shanghai Futures...
After China, another region that is growing substantially in primary aluminium production is the GCC (Gulf Corporation Council) or the Gulf countries. The volume of aluminium production in the Gulf region stood at 5.2 million tonnes in 2015, accounting for around 10 per cent of total global output of 58 million tonnes. This is due to the major expansion of existing smelters and commissioning of new projects that primary aluminium production is increasing at a faster rate in the GCC countries. After oil and natural gas, now aluminium is one of the key economic drivers for the Gulf region. Gulf countries are constantly working towards making a shift towards non-oil sector especially the aluminium industry which gets the benefit of cheap energy and abundance of manpower and high technology....
Emirates Global Aluminium, EGA, and GE power signed a Memorandum of Understanding (MoU) with each other on a 100 day program to diminish EGA’s nitrogen oxide NOx discharge under the UAE government Accelerator programme. Abdulla Kalban, Managing Director and Chief Executive Officer of EGA, and Joseph Anis, President and Chief Executive Officer, Power Services for the Middle East & Africa, GE Power, signed the MoU, in the presence of HE Dr. Thani Ahmed Al-Zeyoudi, Minister of Climate Change and the Environment at the Government Accelerator headquarters in Emirates Towers in Dubai. Both the companies are working in a partnership to achieve objectives in reducing NoX emission and increasing operational productivity at EGA’s power plants in Al Taweelah and Jebel Ali. According to Kalban, “This...
LME aluminium price improved to close at US$1,737.5 per tonne on December 22 and it is expected to hover within a range of USD 1,715-1,730/mt on Friday. As on December 22, LME official CASH Buyer price of aluminium is US$1737 per tonne, CASH Seller & Settlement price is US$1737.5per tonne, 3M Buyer price is US$1720 pe tonne, 3M Seller price is US$1721 per tonne, DEC1 Buyer price is US$1733 per tonne, and DEC1 Seller price is US$1738 per tonne. LME official Opening Stock of aluminium currently stands at 2139575 tonnes, total Live Warrants is estimated at 1486675 tonnes, and Cancelled Warrant is 652900 tonnes. In China, benchmark price of aluminium traded on Shanghai Metal Exchange dropped by 1.7 per cent from the previous day to stand at US$1,855 per tonne on Friday, December 23. According...
Aluminium China 2016, held in Shanghai on July 12th-14th, was a major success. The professional sourcing and networking platform with the most comprehensive coverage of the Asia market attracted 19,530 visitors and buyers from 75 countries and regions all over the world to a compelling line-up of events that lasted three days at a stretch. The top five ex-China countries which had maximum representation at the event were South Korea, India, Japan, Thailand, and Taiwan. There were participation from the Metal Materials and Processing Industry (covering bauxite, alumina, & aluminium powder till aluminium extruded sections) as well as Aluminium Deep Processing and Downstream Application Companies (including automotive part and vehicle manufacturing, packaging, transportation, building and...
Continuing for the third straight day, aluminium prices eased further by 0.21 per cent to INR 117.30 per kg in futures trade today as participants engaged in trimming their positions, tracking a weak trend at spot market on subdued demand from consuming industries. At the Multi Commodity Exchange, aluminium for delivery in December shed 25 paise, or 0.21 per cent, to INR 117.30 per kg, in a business turnover of 56 lots. Similarly, the metal for delivery in January traded lower by a similar margin to INR 116.85 per kg in one lot. Market analysts said that offloading of positions by traders, tracking a weak trend at the spot markets due to muted demand from consuming industries, mainly kept aluminium prices lower at futures trade.
Australia's 300,000-tonnes-per-year Portland aluminium smelter is operating at below a third of its capacity after power to the plant was temporarily knocked out three weeks ago, operator Alcoa Corp said on Wednesday. The smelter was hit when a power interconnector between the states of Victoria and South Australia went down, cutting power to both of the plant's potlines, and raising questions about its long-term future. "The smelter has been operating at less than 30 percent capacity since a fault on the Victorian transmission network on Dec. 1 caused a more than five-hour power outage at the plant," Alcoa said in a statement. It said Alcoa Chief Executive Roy Harvey met with Australia's industry minister Greg Hunt in New York this week, and expressed appreciation for the extensive...
The premiums that Japanese buyers pay for aluminium are projected to stay between $80 and $140 a tonne next year, with a gradual rise later in the year on the back of healthy global demand, Japanese trading house Marubeni said on Wednesday. Japan is Asia's top aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. "Japanese premiums will likely increase in the April-June quarter next year, possibly to around $100 a tonne, helped by seasonal demand," Hideya Kitamura, general manager at Marubeni's light metals section, told reporters on Wednesday. "And they may further climb later in the year as the economies in the US, Europe and China are expected to stay firm," he...
LME aluminium price improved on Wednesday's night trading to close at US$1,730.5 per tonne, up 0.46 per cent from the previous day. The contract is predicted to move in the range of US$1,720-1,735 per tonne on Thursday, December 22. However, Shanghai Metals Market analysts say due to significant capital withdrawal prior to Christmas, positions will reduce sharply and a weak tone would prevail in the base metals market including aluminium. As on December 21, LME official CASH Buyer price of aluminium is US$1730 per tonne, CASH Seller & Settlement price is US$1730.5 per tonne, 3M Buyer price is US$1720 pe tonne, 3M Seller price is US$1721 per tonne, DEC1 Buyer price is US$1733 per tonne, and DEC1 Seller price is US$1738 per tonne. LME official Opening Stock of aluminium currently stands at...
Aluminium prices in India kept falling for the second consecutive day with the contract closing at INR 117.35 per kg in futures on Wednesday, down 0.17 per cent from the previous day. The traders in the domestic market engaged themselves in reducing their positions as demand shrank in the spot market. At Mumbai's Multi Commodity Exchange, price of aluminium for December delivery declined by 0.17 per cent to stand at INR 117.35 per kg in business turnover of 153 lots. Likewise, aluminium for January 2017 delivery was down by 0.13 per cent to stand at INR 117 per kg in business turnover of 17 lots. Analysts keeping an eye on commodity trading in India market said, trimming of positions by participants due to subdued demand from the end user sectors at the domestic spot markets was mainly...
A source from NFC, China's Nonferrous Metal Industry's Foreign Engineering and Construction Company (NFC) , has reported to media that company plans to transfer its latest technologies for the production of aluminium ingot to Iran. According to a statement given by deputy head of NFC Qin Junman to an Iran Daily News, based on china’s recent progress in the mining sector, the company plans to transfer its latest technology on aluminium smelters to Iran. In view of Junman, Iranian smelters can reduce energy consumption to its lowest by using this latest ingot smelting technology. He further commented that NFC would cooperate with Iranian companies on extraction of gold, copper, lead and zinc in the near future. The official source from NFC also pointed out that the company will further...
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The downward slide in LME aluminium came to a halt on Tuesday's night trading as the contract closed at US$1722 per tonne showing limited strength at 0.29 per cent higher closing price than the previous day. The market stabilized as aluminium met resistance from the moving averages. According to Shanghai Metals Market forecast, the commodity will likely diverge widely on Wednesday, December 21. As on December 20, LME Official CASH Buyer price of aluminium stands at US$1722 per tonne, CASH Seller & Settlement price is US$1722.5 per tonne, 3M Buyer price of aluminium is US$1715 per tonne, 3M Seller price is US$1715.5 per tonne, DEC1 Buyer price is US$1727 per tonne and DEC1 Seller price is US$1732 per tonne. LME official Opening Stock of the metal stands at 2112275 tonnes, total Live...
Following a sharp fall in the first week of December, the aluminium futures contract on the Multi Commodity Exchange (MCX) found support at around INR115 per kg and started the move sideways. Last couple of weeks, the contract has been moving sideways in a narrow range. On Friday, the contract fell 1.3 per cent, encountering a key resistance at INR118.5. With this fall, the contract has retained its sideways movement in the band between INR115 and INR118.5. Experiencing selling pressure, the contract continued to decline and fell 0.6 per cent to trade at INR116.3 on Monday. A decisive downward breakthrough of the sideways range will reinforce the short-term downtrend and drag the contract down to INR113 in the coming weeks. Further slump below INR113 can pull the contract down to INR110...
Metals and mining giant Vedanta is planning to revisit its cost structure keeping it optimally below $1,400 per tonne in the wake of lower costs of alumina and coal. The aluminium producer said its estimated aluminium-making cost for the September quarter stood at $1,473 per tonne, while its overall cost of production declined to $1,462 per tonne. The shrinkage in aluminium-making cost was attributed by Vedanta to the lowering alumina and coal costs. Vedanta is also going to be benefitted from using cheaper electricity from its own sources. The state-owned power regulator Odisha Electricity Regulatory Commission gave the aluminium producer permission to draw up to 1,800 Mw of power from its 2,400 Mw power station at Bhurkamunda, located strategically close to its smelting facility,...
