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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Aluminium buyers in Japan are transitioning away from annual contracts, turning instead to purchasing their aluminium on spot markets, according to a recent article by Reuters. Significant oversupply, largely from smelters from the People’s Republic of China, has kept prices on the spot market at or near seven-year lows. In Asia the norm up to now for aluminium buyers has been to purchase aluminium by way of annual contracts, with premiums for metal delivered in each quarter determined by negotiations. These premiums become benchmarks for buyers across Asia. However, due to the continuing glut of aluminium cascading out of China, consumers that have already agreed to quarterly premiums find themselves buying at prices significantly above the current spot price. “Lots of inventories are...
LME aluminium will move in a wide range of USD 1,580-1,610/mt on Thursday. SHFE 1611 aluminium should move between RMB 11,890-12,050/mt. In east China’s spot aluminium market, spot premiums of RMB 100-140/mt are expected over SHFE 1609 aluminium contract. Key macroeconomic indicators for base metal prices US crude oil inventories for last week and European Central Bank interest rate decision will be a focus of markets today. Base metals fell overnight due to rising US dollar index. In China’s official and Caixin manufacturing PMIs in August, import and new export order improved noticeably. When combined with yuan’s devaluation, China’s exports may improve in August. But export order sub-indice in Japan’s August manufacturing PMI dropped noticeably, meaning weak overseas demand. So any...
In preparation for its previously-announced separation into two industry-leading companies, Alcoa Inc. has named the members of the Boards of Directors for the future Arconic Inc. and Alcoa Corporation. To ensure continuity and retention of valuable Alcoa Inc. experience, each new company’s board will include members of the current Alcoa Inc. board, who will serve alongside new directors appointed after a comprehensive search. The new boards will assume their responsibilities upon completion of the Company’s separation, which remains on track for the second half of 2016. “We have established two world-class, diverse boards for Arconic and Alcoa Corporation to accelerate value for the shareholders of each company,” said Alcoa Chairman and CEO Klaus Kleinfeld. “The new directors – like the...
Aluminum Association has published a statement regarding the recently concluded bilateral dialogue between the U.S. and China during the G-20 Summit. The White House released a fact sheet following the meeting where they cited the issue of aluminium excess capacity and how U.S. and China would work together to address the issue. “The United States welcomes China’s supply-side structural reform program, which has cutting excess capacity as one of its key objectives. The United States and China recognize that due to a weak global economic recovery and depressed market demand, the excess capacity of the electrolytic aluminium industry has increased and become a global issue requiring collective response. Both countries are to work together to address the global electrolytic aluminium excess...
The US dollar index fell on negative US economic data. This will help underpin LME aluminium at USD 1,585-1,600/mt. Base metal prices on the SHFE are expected to continue diverging on Wednesday, Shanghai Metals Market foresees. “The dollar weakened overnight, but base metals made little response to this, and base metal prices are expected to continue diverging today,” SMM says. SHFE 1611 aluminium should move around RMB 12,000/mt, with trading band between RMB 11,950-12,050/mt. In east China’s spot aluminium market, spot premiums of RMB 90-130/mt are expected over SHFE 1609 aluminium contract. Key macroeconomic indicators for base metal prices Germany’s industrial output in July and US July JOLTs will be released today. The US dollar index slumped overnight, boosting precious metals . But...
Japanese aluminium buyers are looking to crimp the amount of the metal they purchase via annual contracts, instead turning to spot markets where premiums have in recent months dropped to their lowest in over seven years amid a persistent supply glut. Most aluminium buying by Asia's biggest importer of the metal is carried out through annual contracts, with premiums for delivered metal set each quarter via negotiations that act as a benchmark for the region. But with spot metal premiums falling since hitting this year's highs around March, sources at buyers said quarterly negotiations had locked them into prices well above those in the market. "Lots of inventories are out there and we can get better deals if we buy them in spot," said a source at a fabricator, adding that the company would...
LME aluminium will fall further to USD 1,565-1,590/mt. SHFE 1611 aluminium should move at RMB 11,800-12,000/mt, with short selling pressure eased. In east China’s spot aluminium market, spot premiums of RMB 110-150/mt are expected over SHFE 1609 aluminium contract. Key macroeconomic indicators for base metal prices US August LMCI, the US IBD consumer confidence index in September and eurozone annualized Q2 GDP are slated for release today. Base metals are expected to diverge today. Disappointing US non-farm employment and salary figures in August bode ill for US CCI. Market expectations of a Fed rate hike in September decreased due to weakening non-farm payrolls in the US. US non-farm employment data are expected to be revised upwardly significantly. Should the LMCI extend gains in...
Aluminium stocks in five major markets of China soared 53,000 tonnes in August, the biggest growth trend in nearly five months, showed statistics provided by the Shanghai Metals Market (SMM). According to the analysts, the new and restarted aluminium smelters will keep adding to the metal supply in September and downstream aluminium consumption will continue to recover. It is expected that aluminium stocks would extend their upward trend. The below table shows aluminium stock details in five major Chinese markets: Unit: 1,000 tonne Aluminium prices in China major markets pared down China Aluminum International Trading Co. (Chalco Trading), a full subsidiary under Chalco responsible for alumina and aluminium sales, axed aluminium prices it offered in major China markets today (September 5)...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter’s reputation as an occupational safety and health performer was given an impetus as the Company won the Gold Award for the Occupational Health and Safety in the RoSPA Occupational Health and Safety Awards 2016. Alba’s Chief Executive Officer Tim Murray and Manager for Safety Health and Environment Mohamed Khalil received the award during a ceremony which was held recently at the ExCeL London Centre, UK. Commenting on Alba's success in winning the Gold Award for the Occupational Health and Safety in the RoSPA Awards 2016, Alba’s CEO Tim Murray, said: “We, at Alba, are honoured to receive this prestigious award, and I extend my thanks to everyone for their dedication and support in taking the ownership on...
Indian Aluminium prices dropped 0.37 per cent to INR 107.30 per kg in futures trade today at Multi Commodity Exchange. Due to subdued demand in the spot market, traders reduced exposure. At the Multi Commodity Exchange, aluminium for delivery in September month traded at INR 107.30 per kg in business turnover of 1,946 lots, which recorded a drop of 0.37 per cent. The metal for delivery in October contracts also dropped 0.32 per cent to INR 108.30 per kg in 95 lots. Market participants are of the view that traders are offloading positions due to lukewarm demand in the spot market. This in turn is leading to the drop in aluminium prices at futures trade.
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Aluminium contracts traded on London Metal Exchange (LME) will continue its decline this week, whereas SHFE aluminium will likely swing widely, predicted analysts at Shanghai Metals Market (SMM). According to SMM, LME aluminium should be down somewhere in the range of US$1,580-1,650 per tonne. On what would likely support SHFE aluminium, they said, expectations for an uptick in September demand will buoy the metal prices despite surge in aluminium production in China. Traditionally September has been the peak-demand month for aluminium in Chinese major markets. SHFE 1610 aluminium should swing widely between 12,000-12,400 yuan per tonne, SMM expected. Rising shipment volumes from smelters is also expected to drive growth of aluminium stocks across China markets, but total stocks will...
Rio Tinto has completed the sale of its 74 per cent of Zululand Anthracite Colliery (ZAC) to Menar Holding, for an undisclosed sum. ZAC, an underground mine in Zululand, South Africa, produces premium quality anthracite for international and domestic customers and has more than 1,300 employees and contractors. The remaining 26 per cent of ZAC will continue to be held by its Broad-Based Black Economic Empowerment partner, Maweni Mining Consortium Pty Ltd. Menar has a proven track record of operating and investing in South Africa through its controlling interest in Canyon Coal, which owns three coal mines in Mpumalanga and other coal projects in Mpumalanga and Gauteng. Rio Tinto has a long-standing relationship with South Africa and continues to invest in Richards Bay Minerals and...
A wide spread between import and domestic aluminum prices continued to keep Chinese buying interest at bay in August, despite premiums falling over the month, market participants said. S&P Global Platts assessed the aluminum spot premium delivered to Japan at $66-$74/mt plus LME cash Wednesday, down from $76-$77/mt a month ago. Rio Tinto Japan this week offered Japanese buyers a fourth quarter contract premium of $82/mt plus London Metal Exchange cash CIF Japan, down 10% from the Q3 premium of $90-$93/mt, Japanese buyers said Tuesday. Chinese aluminum stocks have increased on the back of slowed demand, as numerous downstream producers had shut down or cut back recently due to government environmental protection inspections. The Q3 summer season was also a seasonal slow period for...
According to an SMM report, Aluminium prices in China are relatively stable despite the growing aluminium supply. SMM also tries to find out the positive factors that are giving support to the aluminium prices which ideally should have gone down with the inflating supply. SME price trend in August Aluminium consumption in July and August 2016, which is traditionally off-season for the China market, is better than the same period of 2015. Though the consumption is down from previous months a YOY increase has offered support to the aluminium prices. SMM survey also found that orders for downstream producers started growing in mid or late August expecting the peak demand season in September. The negative impact of growing supply will be further offset in the month of September with the onset...
According to the latest update from SMM, a recent report about a possible talk between the government of Dalad Banner in Inner Mongolia and Henan Maintain Al. Industrial Corp. about constructing a 10 million-tpy aluminium project is an exaggeration. SMM confirms that Henan Maintain Al. Industrial Corp. is just looking for consultancy support from the government. This is to ensure raw material supply for its 1 million-tpy aluminium processing project. Preliminary estimate shows the company has a plan to purchase 1 million tonnes of alumina annually for its facility.
UC RUSAL, a leading global aluminium producer, announces senior staff appointments within the Company’s Aluminium Division. Oleg Buts has been appointed as Managing Director of Irkutsk Aluminium Smelter (IrkAZ). Prior to the appointment, Mr Buts worked as the Director of Department for Production System Training at Production development Directorate of UC RUSAL. He will replace Evgeny Kuriyanov, who has been appointed as Managing Director of Krasnoyarsk Aluminium Smelter (KrAZ). Both managers started their careers at blue-collar positions at RUSAL plants where they passed through all the professional growth stages inside the company, gaining a great understanding of the production and plants specifics. Being part of ‘RUSAL Personnel Reserve’ programme, both employees have developed their...
China Aluminum International Trading Co. (Chalco Trading) cut aluminium prices it offered in major markets today after three consecutive days of hike, it said on its WeChat. For details, please see the table below: Unit: yuan/tonne Chalco Trading is a full subsidiary under Chalco responsible for alumina and aluminium sales. SHFE 1610 aluminium falls on short selling On Tuesday’s night trading, SHFE 1610 aluminium fell to RMB 12,275/mt after opening at RMB 12,310/mt. But prices then rebounded to RMB 12,350/mt on short covering and ended at RMB 12,345/mt. On Wednesday, SHFE 1610 aluminium climbed to RMB 12,375/mt after opening at RMB 12,330/mt. Short selling sent prices down to RMB 12,205/mt in the afternoon, ending at RMB 12,215/mt. Trading volumes were up to 111,132 lots, and positions...
LME aluminium will move in a wide range of USD 1,605-1,625/mt on Thursday. SHFE 1610 aluminium will move at RMB 12,150-12,300/mt,. In east China’s spot aluminium market, spot premiums of RMB 130-170/mt are expected over SHFE 1609 aluminium contract. Key Macroeconomic Indicators for Base Metal Prices Diverging trend will strengthen on base metal market on Thursday with eyes on manufacturing PMI for August from China and the US and US July construction spending. Overnight, US August ADP employment data was upbeat, raising bets for a rate hike by US Fed while market kept cautious attitudes towards the possibility of a rate hike in September. The mixed reading of China’s official and Caixin manufacturing PMI in July boosted confusion in market. Markets expect the official manufacturing PMI to...
