1. Macro perspective The US-Iran conflict entered its second week. After the escort coalition intervened, traffic through the Strait of Hormuz partially recovered, but war risk insurance rates remained elevated. Brent crude pulled back from a high of USD 101 to consolidate around USD 95, with energy cost support weakening from earlier levels but not yet fading. The US Fed delivered a 25bp rate hike at its September FOMC meeting, and the dot plot indicated one more hike may still occur this year. Chair Warsh struck a hawkish tone in his post-meeting remarks, and the US dollar index held at a 13-month high. Next week, attention turns to China's official PMI on September 30, as well as US PCE and non-farm payrolls data during the National Day holiday—with China's market closed for seven days...
According to data released by the General Administration of Customs of the People's Republic of China (GACC), China's total primary aluminium imports reached 185,500 tonnes in August 2026, down 14.65 per cent year-on-year but up 0.16 per cent month-on-month. Total imports for January-August amounted to 1.66 million tonnes, a decrease of 3.41 per cent year-on-year. The 14.65 per cent year-on-year decline in August imports, coupled with a nearly flat month-on-month performance, indicates that imports have not collapsed but rather maintained a steady inflow. In August, China's total primary aluminium exports stood at 21,900 tonnes, down 14.53 per cent year-on-year and 30.48 per cent month-on-month. Cumulative exports for January-August totalled 167,500 tonnes, up 9.26 per cent year-on-year....
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Alro S.A., the largest aluminium producer in Continental Europe (except Russia and Scandinavia), announced it recently signed three-year USD 167 million credit facility from eight banks. The transaction and the club of eight banks was led by RBI Group (Raiffeisen Bank International and Raiffeisen Bank Romania acting jointly) as the sole Coordinator. The club includes OTP Bank Romania, Unicredit Bank, Banca Comercială Intesa Sanpaolo Romania, Banca Transilvania, Banca de Export-Import a României (Eximbank) and Garanti Bank. “The deal extends with three years its existing USD 137 million revolving credit facility from December 2015 and adds a new USD 30 million letter of credit line,” according to company press release. "This revolving facility aims funding the working capital needs of the...
A global aluminium producer has offered Japanese buyers a premium of $110 per tonne for primary metal shipments during the January to March period, as much as 17 percent above the current quarter, three sources directly involved in pricing talks said on Friday. Japan is Asia's biggest 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. For the October-December quarter, Japanese buyers agreed to pay a premium of $94-$95 per tonne, down as much as 21 percent from the prior quarter to reflect a slide in local spot premiums.
A host of unconducive macroeconomic factors is driving LME aluminium price below its support level. The dollar index at 93.17 is edging higher on some progress being made in US tax reform, the effect of production reduction in China is still not getting reflected in downstream purchase behaviour, and raw material prices are falling across the board. As a result, LME aluminium which started at US$2,188 per tonne at the beginning of November is falling rapidly unable to hold grounds. The light metal contract dropped from the previous day’s close of US$2,062 per tonne and ended at US$2,033 per tonne on November 30. As on November 30, LME official cash buyer aluminium price (Bid Price) stands at US$2,032.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,033 per...
Hydro today announced two new low-carbon aluminium products, designed to help customers reach their sustainability goals and meet the demand from ever more climate-conscious consumers. The new products will be independently certified by DNV GL. The new products are: Hydro 4.0: hydropower-based aluminium with a maximum content of 4.0 kg CO2 per kg aluminium, and; Hydro 75R: aluminium with a guaranteed post-consumer recycled content of minimum 75 percent Climate strategy converted into products "We are proud of our industry-leading climate strategy that has resulted in producing aluminium with the lowest energy consumption and the lowest emissions in the world, and our aim to become carbon-neutral from a life-cycle perspective by 2020. As every part of our aluminum production is managed...
The rally in LME aluminium is not over yet, but the momentum has certainly vanished. The light metal contract which started November at US$2,188 per tonne has fallen by 5.7 per cent to stand at US$2,062 per tonne as on November 29. It seemed to have drawn little support from the encouraging manufacturing reports in China and Japan. Analysts opine that LME aluminium may fall further marking its biggest monthly loss since May 2016. As on November 29, LME official cash buyer aluminium price (Bid Price) stands at US$2,060 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,062 per tonne, 3M Bid Price is US$2,075 per tonne, 3M Offer Price is US$2,075.50 per tonne, Dec1 Bid Price is US$2,123 per tonne, and Dec1 Offer Price is US$2,128 per tonne. LME aluminium Opening Stock...
Aluminium Bahrain B.S.C. (Alba), home-base of the Line 6 Expansion Project, set the benchmark for sustainable power generation with the successful installation of the first H-class General Electric (GE) 9HA Gas Turbine (GT) at its Power Station (PS) 5. With this, Alba has become the first aluminium smelter in the world to use the largest and most efficient gas turbine produced by GE. A ceremony was held to celebrate this occasion today, 28 November 2017 under the Patronage of Alba’s Chairman of Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa and was attended by Alba Board Directors -- Dr. Mohamed Kameshki and Mr. Yaser E. Humaidan from Bahrain Mumtalakat Holding Company and Ahmed Mohammad A. Al Jabr from Sabic Industrial Investments Co. Alba’s Deputy Chief Executive Officer...
LME aluminium retraced US$2,100 per tonne mark on Tuesday, November 28, as key raw material prices in China, one of the world’s major markets, dropped further. The light metal edged slightly higher to US$2,109.5 per tonne on Monday, November 27. Though the rest of the financial year outlook for the contract remains moderately positive, volatility is expected to continue in the short term. As on November 28, LME official cash buyer aluminium price (Bid Price) stands at US$2,099.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,100 per tonne, 3M Bid Price is US$2,112.50 per tonne, 3M Offer Price is US$2,113.50 per tonne, Dec1 Bid Price is US$2,160 per tonne, and Dec1 Offer Price is US$2,165 per tonne. LME aluminium Opening Stock or the LME aluminium inventory...
Aluminium prices eased by 0.69 per cent to INR 135.90 per kg in futures market today as speculators trimmed positions, taking negative cues from the spot market on muted demand from consuming industries. At the Multi Commodity Exchange, aluminium for delivery in November fell by 95 paise, or 0.69 per cent, to INR 135.90 per kg in a business turnover of 2,335 lots. Similarly, the metal for delivery in December traded lower by a similar margin to INR 136.35 per kg in 1,161 lots. Analysts said cutting down of holdings by participants due to weak demand from consuming industries in the physical market mainly influenced aluminium prices at futures trade.
Australian miner outh32 announced on Monday that it will operate SA Energy Coal (SAEC) as a stand-alone business. The company will spend R4.3 billion from April 2018 in SAEC’s Klipspruit Life Extension project. Graham Kerr, CEO of South32, said, "Establishing SA Energy Coal as a stand-alone business will enable us to improve the operation’s competitiveness and ensure its sustainability. This process will also allow us to further simplify our organisation and unlock additional value for shareholders." “We will also seek to increase the local ownership of South Africa Energy Coal, consistent with our commitment to South Africa’s economic transformation, and may ultimately list the business on the Johannesburg Stock Exchange.” South32 is a mining and metals company headquartered in Perth,...
The slow-paced uptrend in LME aluminium is continuing. The light metal contract having risen from the monthly low of US$2,062 per tonne on November 21, neared US$2,110 per tonne yesterday. It closed at US$2,109.50 per tonne after night trading on Monday, November 27. Current price scenario, raw material price trends, and weak US dollar index suggest that LME aluminium will keep volatile within a narrow range in the short term. In the mid-term, it may again stage a reversal and move downward below US$2,100 per tonne mark. As on November 27, LME official cash buyer aluminium price (Bid Price) stands at US$2,109 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,109.50 per tonne, 3M Bid Price is US$2,123 per tonne, 3M Offer Price is US$2,124 per tonne, Dec1 Bid Price...
Rio Tinto has further strengthened its partnership with China’s Tsinghua University, extending the tenure of the Tsinghua-Rio Tinto Joint Research Centre for Resources, Energy and Sustainable Development. Rio Tinto and Tsinghua University established the Joint Research Centre in 2012 to bring together leading experts from China and around the world to study, generate and share ideas and best practice for sustainable development. Rio Tinto chief executive J-S Jacques and Tsinghua University president Qiu Yong witnessed the signing of the agreement to extend the partnership at a ceremony today in Beijing. Rio Tinto Corporate Relations Group executive Simone Niven and Tsinghua University vice president Xue Qikun signed the agreement. Rio Tinto chief executive J-S Jacques said “Continuation...
LME aluminium has edged further up after the marginal gains last week. Buoyed by a declining dollar index, the light metal contract rose from US$2,090 per tonne on Thursday, November 24 to US$2,104 per tonne on Friday, November 27. However, since aluminium raw material prices are trending low (alumina spot and bauxite prices dropped by 12-20 yuan per tonne in China major markets), volatility will continue in the near term. Any rise in LME aluminium this week will be limited. As on November 24, LME official cash buyer aluminium price (Bid Price) stands at US$2,103 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,104 per tonne, 3M Bid Price is US$2,119 per tonne, 3M Offer Price is US$2,120 per tonne, Dec1 Bid Price is US$2,167 per tonne, and Dec1 Offer Price is...
Alcoa Corp and the United Steelworkers have agreed to resume contract talks with a government-appointed conciliator, the union said on Thursday, averting a potential strike at the Becancour, Quebec aluminum smelter. The collective agreement for 1,030 unionized workers expired late Wednesday night, putting workers in a legal strike position. A majority of workers had earlier voted to reject the company’s contract offer and give their union a strike mandate. The contract included a two-tier pension plan that is less favorable to new workers and demanded concessions on seniority rights, the union said. Becancour produces 430,000 metric tonnes of aluminum annually, Alcoa said. Combined with the company’s Deschambault and Baie-Comeau smelters in Quebec, total annual production capacity is...
LME aluminium gained slightly after the US dollar index hit one-month low following the minutes from the Federal Reserve’s last FOMC meeting. The light metal contract inched higher from US$2,085 per tonne on Wednesday, November 23 to US$2,090 per tonne on Thursday, November 24. JP Morgan in its recent report on global commodity market said that aluminium prices will rise, and so long-term hold is recommended. For the short term, any rise in LME aluminium will be limited within a narrow range. As on November 23, LME official cash buyer aluminium price (Bid Price) stands at US$2,088 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,090 per tonne, 3M Bid Price is US$2,103 per tonne, 3M Offer Price is US$2,103.50 per tonne, Dec1 Bid Price is US$2,150 per tonne, and...
Unionized workers at Alcoa Corp’s Canadian aluminum smelter in Becancour, Quebec have rejected the company’s contract offer and adopted a strike mandate, the United Steelworkers said on Wednesday. The collective agreement for 1,030 unionized workers expires at 11:59 EST (0459 GMT) Wednesday, after which workers will be in a legal position to strike and Alcoa will have the right to lock them out, the union said. Becancour produces 430,000 metric tonnes of aluminum annually, Alcoa said. Combined with the company’s Deschambault and Baie-Comeau smelters in Quebec, total annual production capacity is nearly 1 million metric tonnes of ingots, plates and billets, Alcoa said. Alcoa, which owns 74.95 percent of Becancour with Rio Tinto Alcan holding 25.05 percent, said in a statement that...
After following a severe downward curve for four days, aluminium prices in China have seen some upward movement today. As updated by Shanghai Metals Market, average A00 aluminium ingot price has gained RMB 40/t on November 23 to stand at RMB 14,800/t from RMB 14,760/t yesterday. The slight rise in aluminium A00 Aluminum prices has been reflected in all other individual markets in China. A00 ingot prices have registered an increase from RMB 20/t to RMB 70/t across all markets. In the spot market aluminium is trading at a discount of RMB 160-120 /tonne. The little gain in A00 ingot prices in the individual markets can be seen in the table below: As forecasted by SMM, bear’s closing out could prevent SHFE Aluminium from dropping in the short term. In the short focus will be on whether SHFE...
LME aluminium edged slightly higher on Wednesday, November 22, despite muted trading ahead of the Thanksgiving holiday in the United States. The light metal contract closed at US$2,085 per tonne yesterday, up from US$2,062 per tonne on Tuesday, November 21. The fact that the demand growth has slowed down as market participants anticipated supply uncertainties due to China winter capacity cuts is prompting analysts to maintain a negative near-term outlook for LME aluminium. As on November 22, LME official cash buyer aluminium price (Bid Price) stands at US$2,084.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,085 per tonne, 3M Bid Price is US$2,102 per tonne, 3M Offer Price is US$2,102.50 per tonne, Dec1 Bid Price is US$2,148 per tonne, and Dec1 Offer Price is...
Aluminium and its raw materials are on a downward curve in China following winter capacity cut drive. Consumption is low and downstream purchasing is slow on expectation of lower supply. A00 ingot price is experienced the biggest drop in recent time in November. The average price of A00 Aluminium ingot stood at RMB 14,760/t today dropping further from RMB 14,860/t yesterday. The price is expected to range within RMB 14,740 – 14,780 per tonne. In the SHFE downward tendency of aluminium price is expected to be in control in the short term. Main contracts of SHFE Aluminium will aim RMB 14,500 per tonne for next stage. The contract is expected to move between RMB14,750-14,950 per tonne. . In the spot market aluminium is trading at a discount of RMB 120-80 /tonne. The drop in aluminium A00...
