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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Hubei Province in China exceeded the outdated aluminium capacity elimination target set by the government during the 12th Five-Year Plan period (2011-2015), industry sources reported. About 127,000 tonnes of outdated aluminium capacity in the province was weeded out during 2011-2015. The number reached far exceeded the 100,000 tonnes target that the Chinese government had set in its last Five-year Plan. Presently, only 118,000 tonnes of aluminium capacity is operational in Hubei, down 74 per cent from 2010. Meanwhile, in Inner Mongolia's Hulunbuir, aluminium precision and aluminium alloy plate, strip, foil project belonging to Mengdong High-Tech New Materials Co. was asked to halt construction immediately for not completing procedures. The project has a per annum capacity of one million...
Henan, one of the top three aluminium producing provinces of China, reported a fall in the number of aluminium smelters as industry concentration grew significantly. The number of smelters in the province has dropped from a whopping 21 in 2005 to only 7 at present. These 7 aluminium smelters, however, takes up 90 per cent of Henan's total aluminium capacity. As per a recent survey by the Shanghai Metals Market, Henan, at present, has an alumina capacity of 12 million tonnes and aluminium processing capacity of 9.8 million tonnes. The province has to procure over 1.5 million tonnes of aluminium from outside each year to meet the raw material demand of local aluminium processors. Meanwhile, aluminium capacity in other parts of China has been reported to be growing and the trend will...
After the recently concluded bilateral dialogue between the U.S. and China during the G-20 Summit, both U.S. and China decided to work collectively to address the aluminium excess capacity issue. Chinese leaders promised to check excessive aluminium production that is flooding global markets and compelling smelters in U.S. and Europe closing capacity due to unfair competition from cheap products. However, aluminium producers in China seem to have another plan. A number of finished and semi-finished product manufacturers have mushroomed in China over last one decade contributing to the aluminium glut. The situation is made worse by the slow growth of Chinese Economy in last few years. While the U.S. and European smelters are closing due to the excess capacity, it has made aluminium cheaper...
Global aluminium giant Alcoa has applied for delisting from the Australian Securities Exchange (ASX), the company said in a statement on Tuesday. Alcoa has been trading on the bourse since 2000. Presently, the number of the company's chess depository interests quoted on the ASX represents less than one per cent of the group's total share capital issued in the market, the document stated. Given the huge administrative cost incurred for the listing, especially when the share volume quoted on the ASX was low, it was becoming increasingly unsustainable, Alcoa added. In fact, trading on the ASX was far lower than that on the NYSE. Alcoa is expected to have its listing on the ASX removed on October 17, stated Mining Weekly on their website.
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The State-owned aluminium producer National Aluminium Company Limited (Nalco) posted a 22.5 per cent decline in net profit in the first quarter June 30, 2016. Net profit stood at INR135 crore against INR174 crore of the corresponding period previous year. The company's profitability was hit by lower market realization, and even an increase in production could not stop it from being affected. Total standalone income of the Navratna firm rose by 4 per cent to INR1,549 crore in April-June quarter this fiscal from INR1,491.27 crore during the same quarter in 2015-16 fiscal. Nalco stock on BSE closed at INR7, down 5.05 per cent from its previous close. The company's total income from operations inched higher by 3.8 per cent to INR1549 crore in Q1FY17 compared to INR1491.27 crore in the...
AlCircle is pleased to announce the launch of AlToolz - the unique Business Decision Enabler. After 10-days of successful Beta run, the premium package of online value-added services is now commercially available for the global aluminium industry participants. AlCircle believes this bucket of tailor-made services covering absolutely necessary data is going to prove beneficial for both the large scale enterprises as well as the SME sector in the aluminium industry. Data, analytics, and information are increasingly important to businesses. You need them to be able to react quickly to the changing demands of your customers and macro environmental conditions. Data enables you to manage your logistics, plan your production, schedule your shipments, and set your operational and revenue targets...
Aluminium traded on London Metal Exchange (LME) dropped significantly to touch the lowest in past three months on Monday along with other base metals in the pack as investors turned speculative about a possible U.S. Fed rate hike this month and started shedding risky assets. "The market has got spooked that there's going to be a September rate hike, but none of the macro data supports that," said analyst David Wilson at Citi in London. "Our economics team don't think there will be a hike (in September), so it's probably a flash in the pan. Some of the weakness looks a bit overdone with one or two exceptions." Higher interest rates drive up financing costs in metals industry that is usually cash-intensive and tend to dampen trading activity and prices of the metals. Benchmark aluminium on...
The equity shareholders of Cairn India Limited have today approved the Scheme of Arrangement of Cairn India Limited with Vedanta Limited with requisite majority. Vedanta Limited shareholders already approved of the scheme on 9th September 2016. Anil Agarwal, Chairman of Vedanta Resources plc, said: "The Vedanta Limited - Cairn India merger has been approved by a significant majority by all sets of shareholders, and I am confident that the simplified corporate structure will better align interests between all shareholders for the creation of long-term, sustainable value. Tom Albanese, CEO of Vedanta Limited, said: "The approval for the Vedanta Limited and Cairn India merger by both sets of shareholders consolidates our portfolio of attractive, Tier-I assets and simplifies the group...
For the fifteenth year in a row, lightweight metals leader Alcoa has been named as one of the world’s leading companies for sustainability on the Dow Jones Sustainability Indices (DJSI) — a globally recognized and reputable benchmark for corporate responsibility and sustainability. Alcoa was again recognized as the Aluminum Industry Leader on the Dow Jones World Index. “As we prepare to launch two strong companies in the second half of 2016, we will continue using our innovation, creativity, and passion to deliver net-positive benefits to the environment, communities where we operate, our employees, and our shareholders,” said Kevin McKnight, Chief Sustainability Officer and Vice President, Environment, Health & Safety. Highlights of Alcoa’s 2015 sustainability performance include: •...
According to SMM report, LME aluminium dropped below the 5-day moving average and will trade in a close range of USD 1,565-1,585/mt on Sept 12 as an aftermath of OPEC’s monthly oil report. SMM also indicates that SHFE 1611 aluminium should move between RMB 11,960-12,060/mt. In east China’s spot aluminium market, spot premiums of RMB 20-60/mt are expected over SHFE 1609 aluminium contract. In the meantime China Aluminium International Trading Co. (Chalco Trading) cut its aluminium prices in three major markets of East China, South China and Southwest China on Sept 12 after previous hike. Note: Chalco Trading is a full subsidiary under Chalco responsible for alumina and aluminium sales.
As reported by the Wall Street Journal, two years ago, a California aluminium executive commissioned a pilot to fly over the Mexican town of San José Iturbide, at the foot of the Sierra Gorda mountains, and snap aerial photos of a remote desert factory. He made a startling discovery. Nearly one million metric tons of aluminium sat neatly stacked behind a fortress of barbed-wire fences. The stockpile, worth some $2 billion and representing roughly 6% of the world’s total inventory—enough to churn out 2.2 million Ford F-150s or 77 billion beer cans—quickly became an obsession for the U.S. aluminium industry. Now it is a new source of tension in U.S.-Chinese trade relations. U.S. executives contend that the mysterious cache was part of a brazen scheme by one of China’s richest men to game...
Aluminium among all base metals is considered to be the least volatile commodity. Yet in the past one year it has experienced price swings so frequently and so widely that the analysts are sceptical that the volatility might extend further. The metal which nose-dived to $1449 (on London Metal Exchange) in January this year has recovered nearly 5 per cent on a year-to-year basis. In fact, it peaked at $1709 in mid-August only to make a reversal and slide down at $1566 per tonne on Friday, September 8. In India futures trade, the aluminium prices were down 0.33 per cent to INR 105.10 per kg as traders chose to reduce exposure amid weak trend at spot market. Demand for the metal was sluggish. Price Source: http://www.lme.com At Mumbai’s Multi Commodity Exchange (MCX), aluminium for delivery...
Hydro’s elaborate remediation plan for its Kurri Kurri aluminium smelter drew applause from Australia’s new federal Labor member for Paterson, Meryl Swanson, reported industry sources. Terming the proposed initiative as possibly ‘the world’s best practice’, Swanson said on Friday last week that she was seeking briefings from the aluminium giant and from other industry experts about what was being planned for the former smelter site, where the main cause of concern was the spent pot-liner. According to sources close to Hydro, the aluminium producer has two lots of spent pot-liner to deal with presently. Spent pot-liners are toxic, corrosive and environmentally hazardous. From 1969 till 1993, the spent pot-liner was stockpiled near “Mount Alcan”; 1993 onward a part of it is being stored in...
So, we have covered the trending events to be attended from the first fortnight of September. In the meantime, aluminium market changed trends downwards. After hitting a new 13-month high in August, three-month Aluminium on the London Metal Exchange came down to $1590 level in September. China has restarted closed capacity and the supply is China market is growing up again. The industry is gearing up for some of the major events covering all the verticals of the aluminium value chain during the event season. Given below is a list of Top 10 Aluminium industry events to be attended in the second half September. 1. IBAAS-2016, 5th International symposium Date: 26th September – 28th September, 2016 Location: Radison Blu Hotel & Resort, South Goa, India International Bauxite, Alumina &...
Some Japanese aluminium buyers have agreed to pay producers a premium of $75 per tonne for shipments in the October-December quarter, reflecting softer spot premiums, two sources directly involved in the quarterly pricing talks said on Thursday. The deal, which marks a 17 to 19 percent fall from the $90 to $93 per tonne premiums in the previous quarter, is the second straight quarterly drop and the lowest in more than seven years. Japan is Asia's biggest importer of aluminium and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange cash price set the benchmark for the region. The latest quarterly pricing negotiations began last week between Japanese buyers and global producers, including Alcoa Inc, Rio Tinto and South32 Ltd, with initial...
The global aluminium industry has been abuzz with the trade imbalance caused by the rise in Chinese aluminium exports. Especially in U.S., producers like Alcoa (AA) and Century have been vocal about Chinese aluminium exports damaging the U.S. and global market. After a dramatic rise in China’s aluminium exports in 2015 by 10% YoY and being criticised by its trade partners for unethical export, China announced that it would curtail its excess aluminium capacity. Chinese aluminium production has however dropped 3.1% YoY during January to July. Cut down on capacity coupled with a rise in domestic demand kept Chinese aluminium exports in check so far. However, this seemed to be a temporary phenomenon as China has restarted most of its closed capacity after a rise in LME and SME prices in...
The U.S. Environmental Protection Agency (EPA) added three mining-related sites to the National Priorities List (NPL) of Superfund sites this week. The sites include the Anaconda Aluminum Co.’s Columbia Falls Reduction Plant site, also known as the Columbia Falls Aluminum Co. (CFAC) site, in Columbia Falls, Montana, Colorado's Bonita Peak Mining District (BPMD) site and the Argonaut mine in California. The law establishing the Superfund program, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), requires the EPA to update the NPL at least annually and clean up hazardous waste sites. “Listing on the [NPL] is an important step that enables the EPA to secure the necessary resources to investigate and address contamination concerns of San Juan and La Plata...
Aluminium Bahrain B.S.C. (Alba), is pleased to announce commitments of US$ 1.5 billion for the commercial loan facility to finance the Company’s Line 6 expansion project. Alba had originally planned to raise between US$500 million - US$750 million but increased the commercial loan facility size to US$1.5 billion due to heavy oversubscription which resulted in competitive market terms. The US$1.5 billion commercial facility will carry an interest margin of 325 basis point per annum over the London Interbank Offered Rate (LIBOR). This facility is expected to have a 7-year tenor and the principal amount repayable in eight semi-annual instalments, including a 3-year grace period on principal payments to support the Line 6 construction period. The commercial loan facility will comprise two...
