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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A weaker US dollar from the US Fed’s decision not to raise interest rate will continue benefit LME aluminum, which will rise to USD 1,625-1,650/mt. SHFE 1611 aluminum will search for direction and move between RMB 12,350-12,500/mt. In east China’s spot aluminum market, spot premiums of RMB 580-620/mt are expected over SHFE 1610 aluminum contract.
Creditors allege in a court filings that the companies behind a planned aluminium plant in Pineville owe more than $2 million in unpaid loans and contracts. Revolution Aluminum LLC, which announced plans last year to build a $1.5 billion production complex that could employ more than 1,000 people, is being sued by Acadiana Railway for nearly $800,000 for unpaid work and uncollected fees. Also, a petition has been filed to force Revolution Aluminum Propco LLC, which purchased the property for the proposed complex, into bankruptcy to collect loans that have not been repaid. Revolution Aluminum Propco LLC is incorporated with Revolution Aluminum LLC as its manager. In the bankruptcy filing, three petitioners allege that Revolution Aluminum Propco LLC, which bought the former site of...
In east China’s spot aluminum market, spot premiums of RMB 330-370/mt are expected over SHFE 1610 aluminum contract. The US dollar index fell back as the US Fed decided not to raise interest rate. Tight supply in domestic market pushed SHFE aluminum up. As such, LME aluminum will rise to USD 1,580-1,600/mt. SHFE 1611 aluminum should advance to RMB 12,100-12,300/mt.
According to an SMM report, China saw steep growth in exports of unwrought aluminium and aluminium semis in August. After the recently concluded bilateral dialogue between the U.S. and China during the G-20 Summit in September, both U.S. and China decided to work collectively to address the aluminium excess capacity issue. While Chinese leaders promised to check aluminium export that is flooding global markets and compelling smelters in U.S. and Europe closing capacity, aluminium producers in China seem to have another plan. The capacity started falling in the month of July and August but it has started rising again after Chinese smelters restarted close capacities. According to China customs data, China exported 410,000 tonnes of aluminium in August, up 20,000 tonnes from July 2016 and...
The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported primary aluminum production in North America (U.S. and Canada) was at an annual rate of 3,950,675 tonnes during August 2016, down 17,013 tpy (-0.4%) from the July 2016 rate of 3,967,688 tonnes. 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 11.3 per cent from the August 2015 rate of 4,451,552 tonnes. Actual production during January to August was 2,700,367 metric tonnes. Producer inventories totaled 2,973 million pounds in July, up 2.2 percent over the June 2016 level of 2,909 million pounds. Compared to a year ago, producer inventories were down 3.0 percent.
Malaysian aluminium major Press Metal Bhd is getting into a joint venture (JV) with a Chinese aluminium raw material supplier to build a project in China to manufacture pre-baked carbon anodes, company confirmed this in a statement to Bursa Malaysia. The aluminium extruder said that the project in collaboration with Sunstone Development Co Ltd (SDCL) of China will have an estimated capital expenditure of 450 million yuan (RM280mil). According to the agreement, Press Metal will take up a 20% stake in the JV company to be called Shandong Sunstone & PMB Carbon Ltd, and it will have an option to increase the stake to 40% after three years and within the completion of fourth year. The company confirmed that the strategy behind this JV is to secure long-term supply of pre-baked carbon anode,...
A demolition notice has been lodged with the island’s council planners by the Orthios Group to make way for the billion-pound project. The application will see the flattening of several one-storey buildings which used to house the potlines, metal products and green carbon processes. Others set to be removed include the carbon rodding, carbon bake and baghouse facilities, all of which have been empty since mothballing in 2009. However, the Anglesey Aluminium chimney - a prominent feature of the island’s skyline since the early 1970s - will remain in place for now. A decision on the fate of the iconic chimney, which towers over the town and much of western Anglesey, has yet to be made. The drawings for the finished biomass plant show the chimney as having been removed. Orthios says it needs...
Union Minister of State with Independent Charge for Power, Coal, New & Renewable Energy and Mines Piyush Goyal met the representatives from aluminium industry today. In a tweet, Goyal said, “Met Federation of All India Aluminium Utensils Manufacturers & Aluminium Secondary Manufacturers Association.” Recently, the Minister had told a media agency in an interview that he is in favour of imposing a Minimum Import Price on the metal to counter dumping of cheap aluminium products. "My personal view is that an MIP on aluminium products should be imposed as I would like to protect the domestic aluminium industry. There is a strong case that dumping is happening and we need to correct it," Goyal had said. Meanwhile, the Director General of Safeguards (DGS) is holding a Public Hearing in...
According to a Reuters report, physical aluminium premiums have stabilized in Europe and the United States mostly driven by tight market due to attractive financing deals and strong demand. However, premiums in Japan are still vulnerable and may plunge further due to supply glut in Asia. Aluminium premiums that is payable by consumers over the LME price has been declining in all three regions throughout 2016 and came down to almost one third. As more and more metal were released from the LME warehouses after the new regulations were implemented to cut queues to get delivery of metal, premiums started failing around the world. European premiums were quoted in a wide range at $105-$135 a tonne for duty-paid metal in Rotterdam, with the upper end of the range up about $10 in recent weeks but...
India’s ministry of commerce and Industry has ruled out imposing minimum import price (MIP) on aluminium and is of the view that the World Trade Organization’s (WTO) non-compliant measure will tarnish the country’s image globally. This comes in the backdrop of the National Democratic Alliance government courting criticism over its protectionist measures for the domestic steel industry. On 4 August, the government extended MIP on 66 types of steel products ranging from $341-752 per tonne for two months till 4 October. “The ministry of mines had earlier this month sought an opinion from the commerce ministry regarding MIP on aluminium imports, but the latter has clearly said no to such a move as it is WTO non-compliant and its imposition will tarnish the country’s image,” said a senior...
Reuters Russia Investment Summit in Moscow drew a number of prominent figures from the most important industries in Russia and the globe. During the summit, Rusal, the aluminium major and a major player in Russian economy forecasted that aluminium prices would stabilise within a range of $1,600-1,700 per tonne next year provided China works on its capacity control measure and global aluminium inventory falls and there is a check on Chinese aluminium semis exports. While announcing the results for the 2nd Quarter and 1st Half ended 30 June 2016, RUSAL estimated that the global aluminium market will show a deficit of around 1 million tonnes in 2016 as a result of strong aluminium demand growth, increase in the global aluminium supply and falling. Due to the gut in the market, downstream...
Shares in state-controlled Hong Kong-listed Xingfa Aluminium have halted trading ahead of a takeover announcement, coinciding with a halt in trading for shares in China’s largest aluminium company. Xingfa, almost a third of whose shares are owned by state-run investment firm Guangdong Guangxin Holdings, announced a trading halt at 8:53am (HKT) today. It followed that up with a statement to the Hong Kong Stock Exchange that the halt was made pending an announcement pursuant to the Hong Kong Code on Takeovers and Mergers. Hong Kong-listed Aluminum Corporation of China (Chalco) also announced a halt at 8:53am today, without giving reason. Neither company has confirmed a takeover offer is in the works. Trading volume for Xingfa has risen visibly in the last month, hitting a recent peak...
According to data sourced from three major ports in Japan, aluminium stocks in the country slid 0.6 per cent month-on-month to stand at 304,200 tonnes at the end of August 2016, Marubeni Corp reported on Friday. Marubeni is a major Japanese integrated trading and investment business conglomerate that handles products and provides services in a broad range of industries. For commodities, Marubeni collects data from Yokohama, Nagoya and Osaka Ports. In July, Japanese aluminium stocks at country’s three major ports were down at 300,000 tonnes from a record 500,000 tonnes plus in May 2015, but that was still above 230,000-270,000 tonnes in early 2014.
Aluminium prices were up by 0.20 per cent to INR105.50 per kg in futures trade today as traders built up fresh positions after uptick in demand from consuming industries in the spot market. At the Multi Commodity Exchange, aluminium for delivery in September was trading higher by 20 paise, or 0.19 per cent to INR105.50 per kg in a business turnover of 124 lots.
A Chinese industry group has denied that the country's aluminium producers could be involved in exporting extrusion products via Mexico to circumvent U.S. duties, in the latest sign of bubbling trade tensions between the two nations. A report by the Wall Street Journal last week cited U.S aluminium executives contending that some $2 billion worth of Chinese metal products had been stockpiled in Mexico as part of a scheme to re-export to the United States, which imposes heavy duties on Chinese products. The newspaper said a total of 1 million tonnes of aluminium products were previously spotted by a pilot commissioned by a U.S. aluminium executive to fly over a factory in Mexico. The China Non-ferrous Metals Fabrication Industrial Association said in its newspaper that it was impossible to...
The Director General (Safeguards) India has decided in favour of holding a Public Hearing before any decision is taken regarding imposition of safeguard duty on unwrought aluminium imports from overseas markets to protect domestic manufacturers. Accordingly, the Revenue department will hold the meeting later this month. "It has been decided by the Director General (Safeguards) to hold a Public Hearing in the safeguard investigation concerning increased imports of 'Unwrought Aluminium (Aluminium not alloyed and Aluminium alloys)' into India on September 29, 2016," the Directorate General of Safeguards (DGS) said. On the basis of preliminary findings, DGS agreed on the fact that increased imports of aluminium products from countries such as the UAE, Malaysia, Russia, South Africa, Oman,...
Indian aluminium major Hindalco Industries of the Aditya Birla group, is all poised for a challenging time ahead with subsidized aluminium imports, rather dumps, from the overseas markets flooding Indian market and profitability going down for aluminium makers in the country who base their product pricing on benchmark LME prices. Addressing the Board and shareholders at the annual general meeting on September 14, Hindalco Chairman, Kumar Mangalam Birla said, despite the company’s strong operational performance, the short-term outlook for aluminium business is bleak given the global glut of the metal and its declining prices across markets. “The sharp increase in imports into India will continue to impact sales,” he said. Birla, however, was optimistic about India’s growing demand for...
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The recently ended Confederation of Indian Industry’s Sustainability Summit in New Delhi saw the Minister of State (Independent Charge) for Mines, Coal, Power and New & Renewable Energy, Piyush Goyal expressing concern about Indian aluminium majors not operating at their full capacities thereby leaving the country’s mineral resource largely unutilised and available for export. At the sidelines of the Summit, Goyal said, “I have asked NALCO to prepare a prospective future plan raise capacity to 20 lakh tonne from the present 4.6 lakh tonne…NALCO has been exporting alumina for several years while the country keeps importing the mineral. We must utilise the mineral within the country to overcome such a scenario.” “They had a full fledged expansion plan which was formed some years ago but it...
