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 declined by 0.96 per cent to INR108.40 per kg in futures trade today as traders booked profits at prevailing levels, driven by easing demand in the spot market amid weak trend overseas. At the Multi Commodity Exchange, aluminium for delivery in far-month November fell by INR1.05, or 0.96 per cent to INR108.40 per kg in business turnover of 353 lots. Similarly, the metal for delivery in October contracts traded lower by 0.78 per cent to INR107.60 per kg in 2,920 lots. Market analysts said besides profit-booking by participants, fall in demand from consuming industries in the spot market and a weak trend overseas, led to decline in aluminium prices at futures trade. Meanwhile, aluminium for delivery in three month fell 1.3 per cent to USD 1,620 a metric tonne, the lowest...
China's state-owned Aluminum Corporation of China Ltd (Chalco) swung back to profitability in the first nine months, buoyed by higher metal prices and continued cost-cutting efforts, the company said on Thursday. Chalco posted a net profit of 107.9 million yuan ($16.02 million) in the January-September period, compared with a net loss of 974.6 million yuan a year earlier, it said in a filing to the Hong Kong stock exchange. The gains came as the company, one of the world's top producers, benefited from the continued rise in aluminium prices . Prices rose 1.5 percent for their third straight quarterly rise, hitting one-year highs of $1,710 a tonne in August, as global capacity cuts helped erode excess output. The improvement was also partly attributable to the recent sale of some assets....
Average global primary aluminium output has risen 1.2 per cent year-over-year in September, driven by enhanced production by Chinese smelters, showed data released by the International Aluminium Institute (IAI) on Thursday. The growth reflected a clear reversal of trend that has prevailed through the current financial year, with China topping the list of aluminium producing countries globally. Output of the white metal in the World ex China has dropped 2 per cent month-on-month, with declines recorded in almost all aluminium producing regions. The global daily average output of aluminium surged at 164,600 tonnes from 159,800 in August. In China, September output stood at 2.75 million, the highest in the past 15 months. "The rally in Shanghai aluminium prices so far this year has improved...
China is showing no signs of slowing down in metal production. At a time when the economy is stabilising, instead of returning to the commodities super-cycle, the country is busy churning out more and more industrial metals. A recent Bloomberg report suggests, ‘the gains in aluminium production this year may be more akin to a high-wire act that is only delaying another crash in prices.’ Aluminium smelters in China increased output to their highest in the past one year. The sector is basically responding to improved margins as pricing scenario improved in China before the current dip, the report noted. The risk for markets is palpable though since demand is receding because of the nascent weakness in the property sector. Moreover, the possibility of a policy shift has made the consumers...
Rio Tinto has released production results for Q3 2016 reporting improved production in bauxite, alumina and aluminium segments. Commenting on the results, Rio Tinto chief executive J-S Jacques said “We have delivered strong quarterly production, underpinned by improving operational performance across our Tier 1 portfolio. Output from our iron ore and bauxite assets reflects the drive for productivity and operational excellence. With a continued focus on value, we will seek further productivity improvements across the business. Our rigorous attention to cash generation, coupled with a disciplined allocation of capital remains our key focus in delivering shareholder value.” The group reported record bauxite production in the third quarter resulting in a total bauxite output of 35.6 million...
The Government of Canada has granted $60,000 in financial assistance to the Aluminium Valley Society (AVS), in the form of a non-repayable contribution, under the Quebec Economic Development Program (QEDP). Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED) announced the grant on October 19. The financial aid will help the AVS to organize the 6th Aluminium Valley in Business Trade Show in Saguenay on May 23 and 24, 2017. It is a part of the government’s effort to support innovation in order to create new technologies and new management models. Commenting on the grant, Mr Bains said, "My government firmly believes that Canada is fundamentally a nation of innovators. Our ability to...
Revolution Aluminum Propco, a subsidiary of Revolution Aluminium LLC, filed a motion in the court requesting permission for borrowing $5.7 million to pay off its outstanding debts before starting their planned aluminium plant in Pineville. They also claimed that they secured the promise of financing in the U.S. Bankruptcy Court filings. Revolution Aluminium LLC, which announced plans to build a $1.5 billion production complex in 2015 and promised jobs to 1,000 people, faced multiple legal actions seeking to recover millions of outstanding payment due from loans or services rendered. According to the motion, Thomas Tucker and Bayou Engineering LLC would lend $5.7 million to Revolution Aluminum Propco to pay back the loan. Tucker is the president of Bayou Engineering Company, which was...
According to a Reuter’s report, China’s aluminium production surged in September after a drop in July/August. This is the highest stock reported in last fifteen months as the producers restarted new and idled capacities after seeing a rise in LME and SME prices. Experts fear that this might again disrupt the stability in prices. China accounts for more than half of world aluminium output and it produced 2.75 million metric tons of aluminium in September which is 1.2 per cent higher than a year ago and a third monthly increase. It was confirmed by the statistics bureau on Wednesday. According to International Aluminium Institute data, it would also be the biggest volume since June 2015. A number of smelters closed shutters at the end of 2015 as they were running unprofitable. They have...
Aluminium Bahrain B.S.C (Alba), the Bahrain-based international aluminium producer, received top honours for its relations with the Investors’ Community when it won two major awards -- Leading Corporate for Investor Relations in Bahrain and Best Investor Relations Professional in Bahrain at the 8th ME Investor Relations Society Awards, held at the Address Dubai Mall last month. The Middle East Investor Relations Society’s (ME-IR Society) Awards is a prestigious event in collaboration with Thomson Reuters Extel and recognises the efforts of regional companies and Investor Relations (IR) professionals who play a critical role in developing IR. Commenting on Alba’s dual win at the ME-IR Society Awards, Chief Executive Officer Tim Murray said: “Alba is well-known for the benchmarks it has set...
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Russian aluminium giant UC Rusal is analysing the losses it would incur if it included its subsidiaries into the Ukraine’s sanction list, reported a media release by the company. The aluminium producer is also strategizing measures to mitigate these losses. "Inclusion of Rusal’s subsidiaries and employees into the sanction list is unjustified by nature. Rusal and affiliated companies do not influence on political processes occurring in the territory of Ukraine, do not create threat to national security and do not obstruct economic development of the country," the release stated. Shareholders will have to bear the brunt of including Rusal’s subsidiaries into the sanction’s list; hence, the company is conducting legal due diligence of such acts so that shareholders’ remain fairly...
Alberto Fabrini was appointed Executive Vice President and member of Hydro's Corporate Management Board in 2014. He was previously Chief Operating Officer in Bauxite & Alumina and plant manager of the Albras primary plant in Brazil. Fabrini has also held the position as plant manager of Hydro's former part-owned Alpart alumina refinery in Jamaica and plant manager at Hydro's Kurri Kurri primary plant in Australia. Eivind Kallevik has been appointed acting EVP/Head of Bauxite & Alumina business area. The process to find a permanent successor has started and will be communicated in due time. Kallevik will at the same time remain in his position as CFO.
Vimetco N.V., the global, vertically integrated producer of primary and processed aluminium products announced recently that it is in talks with a ‘potential buyer’ regarding a possible sale of its stake in all the entities that hold its key aluminium producing facilities in China. The discussion is currently at an early stage and there is no certainty that it would result in a transaction, updated an official release by the Vimetco Board of Directors. In case the discussion progresses, the BoD will announce. Apart from China, Vimetco has production assets in Romania and Sierra Leone, and a holding company in The Netherlands. The integrated aluminium producer controls annual production capacities of up to one million tonnes of electrolytic aluminium, 340,000 tonnes of processed aluminium...
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India's leading aluminium producer National Aluminium Company Limited (Nalco) has reported impressive results for H1 2016-17. Total aluminium production increased 4.2 per cent from the corresponding period previous year to total at 1.88 lakh tonnes. Further upstream, bauxite mining was recorded at 35.08 lakh tonnes, a 23.6 per cent increase over the same period of the last year, and alumina hydrate production was up 5.1 per cent year-over-year to stand at 9.68 lakh tonnes. Revenue-wise too, the Navaratna PSU put up a decent performance. Nalco sold 1.81 lakh tonnes of aluminium, up 5.8 per cent compared to the corresponding period of previous fiscal, and 5.81 lakh tonnes of alumina hydrate up 8.5 per cent from the same period previous fiscal. Notwithstanding the downturn in the domestic as...
The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported that primary aluminum production in North America (U.S. and Canada) was at an annual rate of 3,968,038 tonnes during September 2016 which recorded a rise of 17,363 tpy (+0.4%) from 3,950,675 tonnes in August 2016. The production rate in the U.S. was down 3.7 per cent m/m, while the Canadian production rate was up slightly (+0.3%). The YoY comparison of the North American production shows a drop of 11 per cent from the September 2015 rate of 4,457,027 tonnes. Actual production during the period from January to September 2016 was 3,025,616 metric tonnes.
Aluminium prices slipped to two-week lows on Monday weighed on by worries about Chinese producers restarting operations and adding to the metal glut being created by remelting of semi-finished products. Benchmark aluminium on the London Metal Exchange was down 1.4 per cent at $1,652 a tonne from an earlier $1,647, its lowest since Sept 28. "Production of primary aluminium is coming back in China. There is a surplus of aluminium semis, which are being remelted," said Carsten Menke, analyst at Julius Baer. “As inventories build, there will be pressure on prices, aluminium at these levels still looks quite expensive." Aluminium prices have rallied this year due to a tighter market. Assumptions that supply from top producer China would ease had been reinforced by falling stocks of aluminium...
According to the St. Lawrence Seaway Development Corp., average shipping this season on the Great Lakes-St. Lawrence Seaway system dropped from the last season, although recent shipments of aluminium, grain and iron ore boosted the sea traffic in September. YTD cargo shipments for the period of March 21 to Sept. 30 were 21 million metric tons, which recorded a 5.3 per cent drop from the same period in 2015. She pointed out that there were notable shipments of aluminium and project cargo consisting of various equipment used in aluminium plants including crane components, machinery and transformers. Increase in aluminium cargo shipments from the Port of Oswego was to a certain extent due to the demand from the Novelis plant in Oswego that supplies to the automotive sector. The port saw a...
Aluminium Bahrain B.S.C. (Alba), home-base of the Line 6 Expansion Project, is pleased to announce the successful closing for its landmark syndicated term-loan facility, the first tranche of the Company’s funding plan for the Line 6 Project. Alba’s original target for the syndicated loan was to raise between US$500 to US$750 million. However, due to heavy over subscription, Alba decided to upsize the loan to US$1.5 billion making it the largest corporate loan in the history of Bahrain. The US$1.5 billion carries an interest margin of 325 basis point per annum over the London Interbank Offered Rate (LIBOR). This facility has a 7-year tenor and the principal amount will be repaid in eight semi-annual instalments and includes a 3-year grace period on principal payments to support the Line 6...
Aluminium on London Metal Exchange will drop to USD 1,660-1,680/mt weighed on by strong US dollar and crude oil volatility. SHFE 1611 aluminium will struggle around the 5-day moving average and move at RMB 12,650-12,850/mt, predicted SMM. Discounts in the range of RMB 160-120/mt are expected in east China spot market over SHFE 1610 aluminium contract. Key macroeconomic indicators 1. Four big central banks- the European Central Bank, the Bank of Canada, the Bank of Indonesia and the Central Bank of Brazil are going to announce their interest rates for October this week. 2. China’s September credit loans and third-quarter data are awaiting release this week. 3. Commodity prices rose on the back of sufficient liquidity. Depreciation of Yuan helped commodity prices in China remain firm....
