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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As if Trump's win in the U.S. Presidential elections and speculations over possible Fed rates hike were not enough to weigh on the LME aluminium prices that Fed Chairwoman Janet Yellen joined in to deliver a speech in a 'hawkish' tone on Thursday. Result - the US dollar index which was already hovering at highs shot up further dragging the contract further down to US$1,692.50/mt at the end of Thursday's night trading. As on November 18, Friday, LME official cash buyer price of aluminium stands at US$1692/mt. LME aluminium is predicted to test support at the 40-day moving average and will move between US$1,688-1,700/mt on Friday. According to Shanghai Metals Market forecast, base metals will remain range-bound in the near term. In China, aluminium traded on Shanghai Metal Exchange closed...
As a forward step towards the construction plan of an aluminium smelter and a gas-based power plant in Iran, Nalco is sending a research group comprising of senior executives to Iran for doing a feasibility round up. The information came from a senior Indian government official on condition of anonymity. After the Prime Minister Narendra Modi’s visit to Iran in May when India signed a deal to develop the Chabahar port, India’s has been working on its strategic ties with the Parsian Gulf country. Nalco has a plan to invest $2 billion to set up a 0.5 million tonne per annum smelting facility in Iran and to produce aluminium at a lesser cost. After the U.S. and other western nations eased the sanctions on Iran, firms are queuing up for projects in the nation rich in natural resources. In...
After consulting domestic aluminium manufacturers, state-run engineering consultant Mecon Ltd in a recent report submitted to the ministry of mines has recommended imposition of minimum import price (MIP) on primary aluminium to guard the industry against cheap imports. InfraCircle on 25 October reported about the Aluminium Association of India—a lobby group with firms such as Vedanta Ltd, Hindalco Industries Ltd and National Aluminium Co. Ltd (Nalco) as members—hiring Mecon to prepare a report to explore the possibility of introducing MIP on aluminium products. “We have recently received a report from Mecon in which it says that MIP shall be imposed on primary aluminium as cost of production of domestic aluminium manufacturers is higher than the London Metal Exchange (LME) prices. We are...
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LME aluminium's downward journey along the price graph enters its second day since it marked a reversal on November 15, Tuesday. The contract closed at US$1,719/mt on the exchange on Wednesday after being traded at US$1,727 the previous day. The current LME official cash buyer price of aluminium stands at US$1,718.50/mt. The decline is correlated with the surge in the U.S. Dollar index, which hit a one-year high following President-Elect Donald Trump’s victory last week. As per Shanghai Metals Market forecast, LME aluminium will keep downward momentum on Thursday and test support at the 40-day moving average. The contract is predicted to move between US$1,687-1,714/mt on Thursday. Goldman Sachs has raised its 3-month, 6-month and 12-month forecast for base metals prices on Tuesday,...
Central European Aluminium Company, CEAC, which is owned by Russian billionaire Oleg Deripaska is suing the government of Montenegro for “hundreds of millions of euros” over the failure of its KAP plant in the capital Podgorica, a press release by the firm says. The case will be heard in Cyprus, which is the base location for CEAC. The company alleges that the plant went bankrupt as Montenegro violated a 2010 settlement agreement. The company however, did not specify the compensation amount in the media release. The CEAC’s director for corporate affairs, Andrei Petrushinin said that they had been urging Montenegro to find a fair solution to the dispute regarding the plant. In response to the claims, the government in Podgorica said that the company lost a case against Montenegro in Paris...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, in line with its commitment to achieve the 2016 Expectations, held a one-day ‘2016 Expectations Review’ meeting with the Management on November 08, 2016 at the Alba Club, Riffa. In line with the CEO’s Expectations for the Year 2016, the meeting was held for Alba Management officials to apprise Alba Executives and Directors on the progress of their respective departments’ objectives for 2016 in the subcategories of safety, cost reduction, Line 6 Expansion Project and such. During the meeting, the year-to-date results of all departments’ were also discussed and evaluated by Chief Executive Officer, Tim Murray. Speaking about the 2016 Expectations Review’ meeting, CEO Tim Murray said: “We believe that review...
One of the biggest aluminium companies in Romania and in Europe, Alro Slatina reported financial results for the first nine months of 2016. The company's net profit slid by 35.12 per cent from the same period of previous fiscal to stand at RON 94.25 million. Turnover in the first quarter also declined 11 per cent from the corresponding period previous year. Alro management attributed the loss in profitability to unfavorable evolution of the international pricing quotas of the aluminium. In the first nine months of the current fiscal, Alro Slatina reported increased aluminium production of 205,400 tonnes, up 1.13 per cent YoY. Processed aluminium production totalled at 57,500 tonnes, down 3.84 per cent YoY. Revenue generation as also lower at RON 1.58 billion, a decline by 10.73 per cent...
LME aluminium has again set out for a journey downslope the price graph. With the US dollar index strengthening, market sentiment got depressed, and LME official cash buyer price of aluminium slid from US$1,765/mt on Monday to US$1,725/mt on Wednesday, November 16. After Tuesday's night trading, the metal closed at US$1,727/mt. LME aluminium will test the 20-day moving average and move between US$1,705-1,740/mt, says Shanghai Metals Market forecast. As per data recorded on November 14, LME Aluminium US Premium stands at US$155, LME Aluminium West-Europe Premium is at US$80, LME Aluminium East-Asia Premium is at US$65, and LME Aluminium South-East Asia Premium is at US$15. The current LME Official opening stock of aluminium is estimated at 2160475 tonnes. In China, aluminium traded on...
The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported that primary aluminium production in North America (U.S. and Canada) was at an annual rate of 3,981,466 tonnes during October 2016 which recorded a rise of 13,428 tpy (+0.3%) from 3,968,038 tonnes in September 2016. The production rate in the U.S. dropped 1.4 per cent m/m, while the Canadian production rate was up slightly. The YOY comparison of the North American production in October 2016 shows a drop of 10.3 per cent from 4,438,388 tonnes in October 2015. Actual production during the period from January to October 2016 was 3,362,844 metric tonnes which records a drop of 9.8 per cent below the same period in 2015. The Aluminium Association’s “Index of Net New Orders of Aluminum Mill Products” for...
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LME aluminium prices dipped 0.67 per cent to trade at US$1,765/mt on Monday, November 14, weighed on by a strong US dollar index which broke through 100 with high expectation of the US interest rate hike in December’s Fed meeting. LME Official Cash Buyer price for the metal stands at US$ 1,776.50/mt and 3-months Buyer price stands at US$ 1778/mt. According to Shanghai Metals Market forecast, LME aluminium will test support at the 5-day moving average and swing between USD 1,720-1,760/mt. Other base metals are also expected to diverge today. In China, aluminium traded on Shanghai Metal Exchange closed at US$ 2,245/mt after Monday's night trading. The contract opened at US$ 2,210/mt on Tuesday, November 15. Chinese yuan depreciated in a row, supporting aluminium traded on Shanghai Futures...
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Aluminium stocks in China’s five major markets have been rising steadily recently thanks to recovering shipments from northwest China, SMM learned. Besides, inflows of imported aluminium and arrivals of domestic aluminium by trucks have also helped ease supply tightness, SMM added. It still takes time to digest backlogged aluminium stocks in Xinjiang due to tight rail transport capacity, though, SMM noted. The table below shows details of aluminium stocks at China’s five major markets: Unit: 1,000 tonne
Hindalco Industries Limited, an Aditya Birla Group of company announced its unaudited standalone results for the quarter ended September 30, 2016 on November 12. PBDT for this quarter doubled to INR 899 crore compared to INR 447 crore in Q2 FY16. The company registered a Revenues of INR 9,562 crore during the second quarter and Net Profit jumped 255% to INR 440 Crore. {newsStudioGallery} For the aluminium segment, the company reports robust operational performance in a challenging macroeconomic environment on account of the improvement in efficiency and lower input costs. The quarter also reported improved visibility over coal sourcing and cost was managed well throughout. The company was able to secure the major part of the coal requirement secured through coal allocation. Hindalco...
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LME aluminium is all set to enter another volatile phase this week. The contract, after having recovered from the initial aftershocks of the US Presidential election last week, was traded at US$1,777/mt on Friday, November 11. The market was primarily dominated by capital. Shanghai Metals Exchange analysts say market players will get to see a different movement of LME aluminium during Asian and European trading hours. The lightmetal will swing between US$1,735-1,760/mt on Monday. So, investors should remain on the sidelines today, SMM puts up a caveat. Eight Fed committee members will reportedly speak today. Fed vice-chairman said last Friday a rate hike is nearing. The market expects the Fed to increase interest rate in December, driving up the US dollar index to 99. LME official opening...
Aluminium Bahrain B.S.C (Alba) presents its financial results for Q3 2016 on Sunday November 13, 2016. Q3 2016 Alba Highlights: • Alba boosted its sales volume by 3.1% YoY and production by 2.4% YoY • Alba value-added sales volume was an average 58% of total shipments • Alba saves US$56 per ton YTD on Project Titan Phase II development work, which is on track • Alba continued with their work safety ethics with the launch of Safety Campaign ‘Safety at the Heart of Alba’ • Line 6 quarterly update: o Closing of US$1.5 billion syndicated term-loan facility o PS5 EPC contract awarded to GE and GAMA Consortium o L6 Power Distribution System (PDS) awarded to Siemens Total sales for Q3 2016 dropped 5% YoY to BD 174.3 million (US$ 463.5 million) compared to BD 184.4 million (US$ 490.4 million) in...
Trinidad is on the verge of witnessing a significant aluminium project getting restarted once the "economics looks good" - assured Prime Minister Dr Keith Rowley in an election meeting in Point Fortin on Wednesday. The People's National Movement (PNM) leader said his administration was working on the Alutrint aluminium plant revival plans. Had the construction work on the plant in La bera been not halted in 2009 as a result of a High Court directive, it would have expedited the diversification of the economy. Rowley cited examples of several countries which have had invested in aluminium plants across the world and were now reaping benefits in terms of solid ROIs. They are currently expanding across the value chain thereby leverage on the strong demand scenario of the metal. “I was...
Vedanta Resources has reported the interim results for the six months ended 30 September 2016. The company reports a revenue of US$4.9 billion and EBITDA of US$1.2 billion for the first half of FY2017 reporting a drop of 15% and 4% respectively compared to the same period of FY2016 primarily due to lower commodity prices. The company also reports higher operating profit of US$720 million compared to US$578 million in the same period in FY16. Gross debt reduced by US$118 million over one year, however, net debt increased to US$8.2 billion. Vedanta Ltd-Cairn India merger has been approved by shareholders and is expected to complete by first quarter of the next calendar year. For the aluminium segment the company reported the highest ever half-yearly production. Smelters continued to ramp-up...
Leading global aluminium producer UC Rusal announced today its production and financial results for the three month and nine months ended September 30, 2016. The company posted adjusted net profit and recurring net profit of USD 181 million and USD 327 million, respectively, for the third quarter of 2016 as compared to USD 40 million and USD 276 million for the past quarter of the year. Despite appreciation of Russian Ruble from average RUR65.9/1 US dollar in the second quarter of 2016 to RUR64.6/1 US dollar in the third quarter of the year Rusal managed to decrease aluminium segment cost per tonne to USD 1,330 from USD 1,334 per tonne in the same period of 2015 as a result of continuing focus on efficiency and cost reduction initiatives and external factors such as decrease of raw...
The global import-export trade in unwrought aluminium amounted to US$20,941 million in 2015, showing strong fluctuations over the period under review. Germany was one of the leading destinations of the commodity import in the last fiscal. In fact, it was the second biggest unwrought aluminium importer country only next to the US which imported unwrought aluminium worth US$17.9 billion accounting for 10.8 per cent of total aluminium imports. Germany imported a total of 2.47 million metric tonnes (mt) of aluminium (all shapes, not alloyed) in 2015, down from 2.67 million mt in 2014. In the current financial year, the total aluminium import in the European nation is estimated to reach 2.56 million mt, a rise by 3.5 per cent year-over-year. Value-wise, total aluminium (all shapes, not...
