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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After the weeklong Chinese National Day holiday, The Chinese market started moving. After the smelters resumed operations, Aluminium stocks in China’s five major markets started growing. However, SMM observed that the growth was much lower compared to the past years of aluminium stock movements in China. On October 14, Chinese aluminium stock fell 8,000 tonnes compared to the aluminium stocks on October 7. As SMM reports, hoards of aluminium ingots are being stacked up at railway stations in northwest China, especially Xinjiang provinces. SMM predicts that it is due to tightening railway capacity that concentrated arrivals from northwest China will not be possible until the end of October. The table below shows details of aluminium stocks at China’s five major markets: Notably, SHFE...
The month of October is so far growing positive for the global aluminium industry. The LME 3 Months aluminium is settled at USD1686 and the Cash contract is settled at USD1680 on October 13. Alcoa reported its Q3 results recording strong growth in its combined Arconic Segments and profitable growth in Alcoa Corporation Segments despite market headwinds. The holiday season is approaching and the industry is busy wrapping up the event season in the coming two months. AlCircle picks six aluminium events that aluminium industry players would like to attend from 16 th to 31 th October 1. GAC Casthouse Seminar Date: 18 th – 19 th October, 2016 Location: Gulf Hotel, Bahrain The GAC Casthouse Seminar , one of the most prestigious gatherings for gulf aluminium industry will provide an excellent...
SHFE 1611 aluminium will likely rise to RMB 12,750-12,950/mt today, driven by south-bound aluminium stocks and downstream stocking before the weekend, stated an early morning forecast by Shanghai Metals Market. Aluminium traded on London Metal Exchange will meet resistance and move at USD 1,680-1,700/mt today. According to an SMM survey, in east China spot market, spot discounts of RMB 150-110/mt are expected over SHFE 1610 aluminium contract. Data as on 13/Oct/2016 SMM Aluminium prices in rmb/metric ton On Wednesday’s night trading, SHFE 1611 aluminium opened at RMB 12,695/mt and ended at RMB 12,700/mt. On Thursday, SHFE 1611 aluminium opened at RMB 12,695/mt and hit a high of RMB 12,815/mt. But the most active contract then fell back, ending at RMB 12,765/mt. Trading volumes were up to...
London’s Vedanta Resources plc released production numbers for the second quarter and first half of 2016 yesterday, reporting a record aluminium output of 296,000 metric tons for the second quarter. On the corporate side, highlights for the quarter included shareholder approval of the Vedanta/Cairn India merger, a deal that is expected to close in the first quarter of calendar year 2017. Also notable for the quarter is upgrades by Moody’s from B2 to B1, and from S&P from a stable outlook to a positive one. Vedanta’s smelters continued to ramp up in the quarter, peaking at a production rate of 1.1 million metric tons per annum, aside from production during trial runs. According to the firm, the ramp up was slowed slightly due to pot outages at two smelters in the quarter. Additionally, the...
The NYSE-listed stock of US lightweight alloys specialist Alcoa on Tuesday closed down 11.42 per cent at $27.91 apiece after the company reported third-quarter results falling short of analyst expectations. Despite reporting a higher net profit of $166-million, or $0.33 a share, which was a marked increase on the year-earlier performance of $44-million, or $0.06 a share, New York-based Alcoa missed analyst expectations by a penny after it reported adjusted earnings of $0.32 a share for the period. “Alcoa steered steady and showed resilience in spite of near-term market challenges. Profits grew in the combined Arconic segments, and Alcoa Corporation segments managed successfully to stay profitable in a low pricing environment,” stated chairperson and CEO Klaus Kleinfeld. Alcoa, which...
Aluminium prices edged higher by 0.40 per cent to INR112.30 per kg in futures in the evening trading today as speculators enlarged positions, driven by rising demand from consuming industries in the spot market. The exchange remained closed for the morning session on account of a religious festival. At the Multi Commodity Exchange, aluminium for delivery in October month edged up by 45 paise, or 0.40 per cent to INR112.30 per kg in business turnover of 139 lots. Similarly, the metal for delivery in November contracts traded higher by 35 paise, or 0.31 per cent to INR112.85 per kg in 13 lots. Analysts said increasing of positions by participants, driven by rising demand from consuming industries in the spot market, mainly led to rise in aluminium prices at futures trade.
South Korea is seeking 1,000 tonnes of aluminium for December delivery, the state-run Public Procurement Service said on its website (www.g2b.go.kr), reports Reuter. Details of the purchase and the tender are as follows: Aluminium tender on October 25: Note: Two countries of origin are not acceptable. Metal products from China, India, Russia and Egypt are excluded. Metal should be London Metal Exchange (LME)-registered brands.
Aluminium prices hit two-month highs before retreating on profit-taking as the spotlight returned to oversupply and expectations of rising output in China. Benchmark aluminium ended down 0.7 per cent at $US1679 a tonne. The metal used in transport and packaging had earlier touched $US1693, it highest since August 18. Traders said that aluminium had in large part been boosted by funds that use trend-based models but that producer selling as prices approached $US1700 and offers at $US1695 had triggered the reversal. Top producer China accounts for more than half of global output estimated this year at about 59 million tonnes. Its producers have been ramping up capacity this year, increasing expectations of a jump in output in the fourth quarter. "These prices can't be sustained in the light...
According to a recent CRU analysis by consultant Yanchen Wang, there are considerably more primary aluminium ingot stocks in the Chinese market than implied by the reported stocks- an index reflective largely of ingot stocks at SHFE warehouses and other registered sheds. Stocks will be held at aluminium smelters, while valued added product stocks will also be held at independent operations that produce casthouse shapes such as billet, Wang observes. This has increased in importance as aluminium producers increasingly reduced the proportion of output at their casthouse of ingot in favour of liquid metal to supply directly to adjacent downstream facilities, and other casthouse shapes. Wang says, stocks of aluminium ingots will also be held in transit, and this has increased in significance...
Lightweight metals leader Alcoa reported third quarter 2016 results. In spite of near-term market challenges, Alcoa Corporation segments, Alumina and Primary Metals, maintained profitability sequentially despite continued low alumina and aluminium pricing by proactively managing costs and capacity. Alcoa reported third quarter 2016 net income of $166 million, or $0.33 per share, including a net $5 million in income related to special items primarily associated with the sale of non-essential land offset by separation costs and associated tax impacts. Year over year, third quarter 2016 results compare to net income of $44 million, or $0.06 per share in the third quarter of 2015. Excluding the impact of special items, third quarter 2016 net income was $161 million, or $0.32 per share. Year...
Vedanta Resources published its production release for the Second Quarter and Half Year ended 30 th September 2016 During Q2 Vedanta aluminium smelters continued to ramp up with current production run-rate of 1.1 mtpa (excluding trial run production). Ramp-up was hampered by pot failure at Jharsuguda-II and BALCO-II smelters in Q2. Secured coal linkages of 6mtpa for captive power plants through auctions helped the company running smooth operations. Shareholders of both Vedanta Limited and Cairn India approved the merger of both the companies and the transaction is expected to complete in Q1 CY2017 Commenting on the results, Tom Albanese, Chief Executive Officer, Vedanta Resources plc, said: "We have delivered a strong operational performance during the quarter. We have progressed on our...
Aluminium stocks in China’s five major markets increased significantly after the weeklong Chinese National Day holiday, SMM data showed. Aluminium ingots kept arriving during the holiday, while consumption came to a virtual standstill, causing stocks to surge after the holiday, SMM explained. The table below shows details of aluminium stocks at China’s five major markets: Unit: 1,000 tonne On the pricing side, SMM analysts find, there is still room for SHFE 1611 aluminium to advance after big gains yesterday, with prices expected between RMB 12,600-12,780/mt today. LME aluminium will follow SHFE aluminium up to USD 1,680-1,700/mt. In east China spot market, spot premiums of RMB 160-200/mt are expected over SHFE 1610 aluminium contract.
In India spot market, aluminium prices edged up by 0.36 per cent to INR112.45 per kg in futures trading today as speculators built up fresh positions after pick-up in demand from end user industries. At Mumbai's Multi Commodity Exchange, aluminium for delivery in November was trading higher by 0.36 per cent to INR112.45 per kg in a business turnover of 14 lots. Similarly, the metal for delivery in October also edged up by 0.31 per cent to INR111.70 per kg in 306 lots. Analysts said fresh positions created by participants, driven by upsurge in demand from end user industries in the spot market, mainly attributed the rise in aluminium prices at futures trade.
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, managed to increase its overall sales and production throughput for the third quarter of 2016despite the low trend in all-in-prices. Sales volumetopped 246,293 metric tonnes(mt) in Q3 2016 , an increase of 7,431 (mt) versus 238,862 mt in Q3 2015 while production volume for the same periodrose by 2.4% year-on-year (YoY) to reach 246,146 mt . For the nine months of 2016, the Company sales volume stretched to 717,569 mt, up from 699,362 (mt) in the same period of 2015 while production volume increased by 3,722 mt to reach 720,750 mt year-to-date. In addition, Alba closed the third quarter of 2016 with its Value-Added Sales averaging 58% of total shipments while Value-Added Sales stood at 55% for the nine...
Evidencing a corporate commitment to the future of the global aluminium industry, coupled with pro-active support for knowledge-sharing, benchmarking and collaborative solutions to sector-wide challenges, Emirates Global Aluminium (“EGA”) again participated at the 31st Metal Bulletin International Aluminium Conference, held in Spain during September. EGA was the event’s Platinum Sponsor for the second consecutive year, cementing a long-standing involvement that has included EGA hosting the 2007 and 2014 events in Dubai and Abu Dhabi respectively. Dr Ali Al Zarouni (Executive Vice President Midstream at EGA) participated in an executive industry panel alongside other senior aluminium experts. The topics addressed included the impact of politics, economics and demographics; the impact of...
LME aluminium will move at highs of USD 1,670-1,685/mt on Monday. Many cities in China introduced new measures to curb property market. China’s State Council said local governments are not allowed to approve new capacity. Only a small amount of aluminium ingot arrived in major consumption hubs after the weeklong holiday. So, spot aluminium prices in China should remain firm. SHFE 1611 aluminium will rise to RMB 12,800-13,000/mt and spot premiums of RMB 580-620/mt are expected over SHFE 1610 aluminium contract. Source: AlToolz LME Aluminium Prices Key macroeconomic indicators for base metal prices Market will eye a series of economic data from China this week. While market liquidity in China is ample, investors are still keen to find out where money will go after 19 cities introduce house...
Russian aluminium giant UC Rusal announced yesterday that it has been assigned its first-ever corporate family rating (CFR) and probability of default rating (PDR) from Moody’s Investors Service, assigning it a Ba3 and Ba3-PD, respectively. “The assignment of the Ba3 rating by Moody’s, one of the most renowned international rating agencies with worldwide recognition, serves as additional testimony to the Company’s strong market position, effective management policy and clear strategy. We believe that the assigned rating is a good start for the Company’s credit rating story, which will be positively received by the investment community and will support the Company’s position on capital markets,” said Oleg Mukhamedshin, UC RUSAL’s Deputy CEO, Director for Strategy, Business Development and...
Aluminium major Hindalco on Friday sought government support to enable the domestic industry to take on what it called "foreign economic invasion" and urged it to encourage new investments. "We seek government support to enable domestic industry to compete with the onslaught of foreign economic invasion. We urge government to encourage new investments to make India self-sufficient to meet domestic demand and a significant player in the world market," Hindalco Managing Director Satish Pai said. Considering the growth potential of the aluminium industry, the sector needs policy intervention from the government, he said, speaking at the World Non-Ferrous Conference 2016 here. The cheap imports are eating into growing domestic demand. In the last five years, the imports from the ASEAN (FTA...
