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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LME aluminium is extending its swing within a narrow range. The light metal contract which edged higher on November 3 to US$2,165 per tonne from US$2,152 per tonne on November 2, has retraced back to the same level. Reuters’ technical analysis suggests that LME aluminium is biased to test a support at US$2,148 per tonne. A break below this level may drag the contract down to US$2,103-US$2,125 range. A break above US$2,196 per tonne, on the other hand, could lead to a gain to US$2,218 per tonne in the near term. As on November 6, LME official cash buyer aluminium price (Bid Price) stands at US$2,151 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,152 per tonne, 3M Bid Price is US$2,172 per tonne, 3M Offer Price is US$2,172.50 per tonne, Dec1 Bid Price is US$2,215...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, announced a major safety milestone as its Casthouse successfully achieved 5 million hours without Lost Time Injury (LTI) on 05 November 2017. A celebration was held on the same day to appreciate the Cathouse employees, which was attended by Alba’s Deputy Chief Executive Officer (DCEO) Ali Al Baqali, Chief Power Officer Amin Sultan, Chief Administration Officer Waleed Tamimi, Director of Casthouse Abdul Rasool Ahmed Abdul Rasool, Manager Legal Stephanus Grobler and other officials. Applauding the employees’ safety efforts, Alba’s Chief Executive Officer, Tim Murray, said: “At Alba, we believe that all work-related injuries and illnesses are preventable. This is a significant accomplishment for us and...
We learnt on October 31 that prebaked anode sales price in Shandong for November delivery may rise up to RMB 150 /tonne. Carbon plants and Weiqiao Group have been so far under negotiation over prebaked anode prices in November. Today, the average price of prebaked anode price in the Central China market has increased RMB 145 /tonne to stand at RMB 4365 /tonne from a stagnant RMB 4220 /tonne. In the Northwest China market the average price has increased RMB 150 /tonne to stand at RMB 4750 /tonne from RMB 4600/tonne. It was expected prebaked anode supply will be tight during winter heating season. Environmental checks have driven the rise in calcined coke prices which sent ripple effects to prebaked anode prices. SHFE Base Metals including keeps differentiated and volatile, with mixed...
LME aluminium is heading towards a consolidation in the range of US$2,174-US$2,218 per tonne, suggests price analysis by Reuters. The light metal which traded within a neutral range last week closed at US$2,165 per tonne on Friday, November 3, up from its previous close at US$2,152 per tonne on November 2. There is a support at US$2,218 per tonne. A break above the mark could take the metal to the next target at US$2,260 per tonne; while a break below US$2,174 per tonne may indicate a drop, price trend analysis suggests. As on November 3, LME official cash buyer aluminium price (Bid Price) stands at US$2,163 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,165 per tonne, 3M Bid Price is US$2,183 per tonne, 3M Offer Price is US$2,183.50 per tonne, Dec1 Bid Price is...
Argentina is seeking new markets for its aluminum exports as the United States probes the national security implications of imports of the metal, an executive at Aluar Aluminio Argentino, the country’s leading producer, told Reuters. Aluar commercial director Miroslavo Puches said the company was planning to boost shipments to Brazil to 100,000 tonnes per year by 2019 from 60,000 currently, as the neighboring country’s economy recovers. It is also hoping to expand exports to Asia from the current 60,000 tonnes per year, he said. “We are going to balance out the volumes a little more,” Puches said. Aluar, about 10 percent state-owned, is the sole producer of primary aluminum in Latin America’s No. 3 economy. It ships an average of 170,000 tonnes-per-year to the United States, representing...
Corporates and Professionals are still in time to register for the 21st Arab International Aluminium Conference & Exhibition (ARABAL) using the website www.arabal.com. Sohar Aluminium, host and organizers of the most sought after industry event in the region, will open the conference under the patronage of His Highness Sayyid Harib bin Thuwaini bin Shihab Al Said, Assistant Secretary General of the Council of Ministers for Conferences, at the Shangri-La Barr Al Jissah Resort and Spa from November 7th-9th 2017. The conference will see the participation of key regional and global players in the aluminium industry including 500 attending delegates from 30 countries and 66 speakers from the international industry leaders. Engineer Said Al Masoudi, CEO of Sohar Aluminium, said, “The program...
Hindalco Industries Ltd., a subsidiary of the Aditya Birla Group, published its standalone unaudited financial results for the quarter ended 30th September, 2017. Hindalco’s aluminium production stood at 326 thousand tonnes in Q2 FY2018. Aluminium wire production was down 2 per cent at 119 thousand tonnes due to subdued demand The company’s net profit for Q2 FY2018 declined to INR 393 crore from INR 440 crore in the previous year, due to exceptional provision of INR 106 crore in Q2 FY18. Hindalco’s revenues during the quarter stood at INR 10,308 crore driven by higher aluminium volumes and realisation. EBITDA was INR 1,577 crore, an increase of 6 per cent compared to the previous year, on account of higher aluminium volumes and supportive macro factors, partly offset by higher input costs...
The current state of talks to update the NAFTA trade pact is creating uncertainty among businesses and could hurt investments and growth, Rio Tinto Aluminium chief executive Alf Barrios said on Wednesday. Canada and Mexico say several U.S. proposals for modernizing the North American Free Trade Agreement are unacceptable, prompting increasing concern that Washington could walk away from the trilateral deal. Rio Tinto exports 75 percent of the aluminium produced at its Canadian plants to the United States and supplies 30 percent of that market’s needs, Barrios told an evening conference organized by the Canadian-American Business Council. “The negotiation process has created some uncertainty among business on both sides of the border and I think this puts at risk to a certain degree...
After the deep plunge yesterday, average prices of A00 aluminium ingot have seen some rise across all markets today on November 3. The price volatility is mostly attributed to slow downstream demand and growing stocks despite the winter capacity cut programme. Average A00 aluminium ingot price has climbed up to RMB 15,980/t today from RMB 15910/t. The A00 ingot prices are expected to rise above RMB 16,000/t mark again. The rise in aluminium A00 Aluminum prices have continued in all other individual markets in China. A00 ingot prices have registered a drop from RMB 50/t to RMB 80/t across all markets. In the spot market aluminium is trading at a discount of RMB 120-80 /tonne. As observed by Shanghai Metals Market, weak downstream consumption and uncertain production limit policy of Lvliang...
Vedanta Limited announced its unaudited consolidated results for the second quarter ended 30 September 2017. The company reported quarterly aluminium production of 401 thousand tonnes. Vedanta registered strong exit production run rate of 1.6 million tonnes per annum. The net profit (PAT) and revenues stood at INR 2,036 crore and INR 21,520 crore respectively for the quarter ended September, 2017. The company’s EBITDA increased 24 per cent year-on-year to INR 5, 776 crore during the second quarter. The company’s net debt/EBITDA at 0.6x stands among the lowest across in Indian and global peers. Vedanta said its gross debt reduced by INR 11,466 crore since March 31, 2017. Mr. Kuldip Kaura, Chief Executive Officer, Vedanta Ltd, said: “PAT for the quarter was up 41% and EBITDA was up 24%...
LME aluminium remained essentially flat during Thursday’s day trading weighed upon by the supply concerns arising from China’s looming production cuts. After night trading, the light metal contract came down to close at US$2,152 per tonne, from the earlier close of US$2,188 per tonne on Wednesday, November 1. It is expected to pick up momentum not before next week. In the immediate term, LME aluminium is likely to trade in a neutral range. As on November 2, LME official cash buyer aluminium price (Bid Price) stands at US$2,151.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,152 per tonne, 3M Bid Price is US$2,166 per tonne, 3M Offer Price is US$2,157 per tonne, Dec1 Bid Price is US$2,213 per tonne, and Dec1 Offer Price is US$2,218 per tonne. LME aluminium...
As updated by Shanghai Metals Market, average Prices of A00 aluminium ingot have plunged significantly across all markets today on November 2 after yesterday’s rise. The price drop is mostly attributed to slow downstream demand and growing stocks despite the winter capacity cut programme. Average A00 aluminium ingot price has dropped RMB 230/t from RMB 16,140/t on November 1 and stood at RMB 15910/t today. After a long time A00 ingot prices have plunged below RMB 16,000/t mark. The drop in aluminium A00 Aluminum prices has continued in all other individual markets in China. A00 ingot prices have registered a drop from RMB 170/t to RMB 220/t across all markets. In the spot market aluminium is trading at a discount of RMB 130-90 /tonne. According to SMM SHFE Aluminium slipped by around half...
UC RUSAL, a leading global aluminium producer, launched a new low carbon aluminium brand that has a low carbon footprint. The company said that “ALLOW will provide consumers and manufacturers alike with confidence that the aluminium used in their products has one of the lowest carbon footprints in the industry.” Vladislav Soloviev, CEO of RUSAL, commented: “The launch of our new low carbon aluminium brand, ALLOW, represents a watershed moment for RUSAL in terms of sales strategy development and work with our customers.” “ALLOW’s carbon footprint is lower than 4t CO2/t Al, while the world average is currently approximately 12t CO2/t Al (scope 1 and 2 at the smelter).” The total expenditure by the company on implementing environmental actions totalled USD119.9 million in 2016. Since 1990,...
LME aluminium has been holding strong and climbed beyond it support level from US$2,140 per tonne on Tuesday, October 31 to US$2,188 per tonne on Wednesday, November1. A break below this level could cause a loss to US$2,125 per tonne in the near term. Positive developments in the LME week are giving support to LME aluminium currently. As per voting results of present participants in LME Week aluminium earned 20 per cent of the votes as the most promising metal in 2018, SMM reported. As on October 31, LME official cash buyer aluminium price (Bid Price) stands at US$2,187 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,188 per tonne, 3M Bid Price is US$2,196.50 per tonne, 3M Offer Price is US$2,197 per tonne, Dec1 Bid Price is US$2,238 per tonne, and Dec1 Offer...
New Zealand's abundant renewable electricity may be the saviour of the Tiwai Point aluminium smelter, attract energy-intensive industries to New Zealand and eventually see electricity exported across the Tasman Sea to Australia, the chair of the Electricity Authority, Brent Layton, says. In a speech to a stakeholder function in Wellington yesterday, Layton said his personal belief is that the Rio Tinto-controlled aluminium smelter would not close "provided the transmission pricing methodology is changed so the smelter pays for the services it receives and the costs of providing those services". The smelter has routinely claimed over the years that its viability is threatened by rising New Zealand power prices and, more recently, by the possible rejection of electricity transmission reform...
As updated by Shanghai Metals Market, primary aluminium output in China reaches 24.66 million tonnes, rising 5% in the first three quarters of 2017. Since September many aluminium enterprises have raised operative capacity based on optimistic anticipation on upcoming peak season of end consumption. However, purchasing is still slow and inventories are piling up again. Average prices of A00 aluminium ingot have seen some rise today on November 1, across all markets after three consecutive falls. Average A00 aluminium ingot price has increased from RMB 16,080/t to stand at RMB 16,140/t today. Other than south China market, aluminium A00 Aluminum prices have registered a rise from RMB 30/t to RMB 50/t across all markets. In the spot market aluminium is trading at a discount of RMB160-120...
LME aluminium held fairly steady at its current level sliding marginally from US$2,143 per tonne on Monday, October 30 to US$2,140 per tonne on Tuesday, October 31. The wave pattern of aluminium prices on LME reveals a support at US$2,148 per tonne. A break below this level could cause a loss to US$2,125 per tonne in the near term. As per voting results of the present participants in LME Week, aluminium accounted for 20 per cent of the votes as the most promising metal which will see a price rise in 2018, SMM reported. As on October 31, LME official cash buyer aluminium price (Bid Price) stands at US$2,139.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,140 per tonne, 3M Bid Price is US$2,156 per tonne, 3M Offer Price is US$2,157 per tonne, Dec1 Bid Price is...
European Aluminium, the voice of the entire aluminium value chain, introduced five new member companies during its General Assembly last week, bringing its total membership to over 85 companies and associations representing more than 600 plants in 30 European countries. “I am delighted to welcome the new members and I am certain they will make a tremendous contribution through their participation in our horizontal Committees and Market Groups,” commented Gerd Götz, Director General of European Aluminium. “The addition of new members also means a stronger value chain and industry voice. With EU legislation and global market trends creating both opportunities and challenges, it is now more important than ever to have a collective industry response to address issues in key areas such as...
