LME aluminium prices moved higher across cash and forward contracts on September 25, while the Asian Reference Price and alumina Platts price also increased. Opening stocks remained unchanged, while cancelled warrants rose sharply. The LME aluminium cash bid price rose 0.80 per cent to USD 3,253 per tonne on September 25 from USD 3,227 per tonne on September 24 . The cash offer price showed a similar trend. It also increased 0.80 per cent to USD 3,254 per tonne from USD 3,228 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook " The three-month aluminium bid price rose 0.40 per cent to USD 3,265 per tonne from USD 3,252 per tonne, while the...
According to SMM statistics, changes in aluminium ingot and aluminium billet (collectively referred to as aluminium inventory) inventories at major consumption areas in China around the National Day holiday from 2020 to 2026 show overall destocking before the holiday, with the most concentrated inventory buildup during the holiday, followed by a pullback after the holiday. During the one-week National Day holiday period (September 30 to October 8) from 2020 to 2025, aluminium ingot, aluminium billet, and total aluminium inventories all accumulated, with aluminium ingot increases of 4-17.3 per cent, aluminium billet increases of 12.7-66 per cent, and total aluminium inventory increases of 6.9-21.2 per cent, with the aluminium billet buildup significantly larger than that of aluminium...
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According to a Reuters report, two Russian business tycoons Mikhail Prokhorov and Viktor Vekselberg have expressed intention to sell a 3-per cent stake in Russian aluminium company Rusal using accelerated bookbuilding (ABB). While Prokhorov is offering 0.7 per cent in Hong Kong-listed Rusal, Vekselberg is offering 2.3 per cent, one of the bookrunners confirmed. The ABB deal announcement comes less than a week after En+ Group, which owns a 48 per cent stake in Rusal, said it would float an IPO in London and Moscow. Based on Rusal’s closing share price of HK$5.84 on Tuesday, October 10, the market value of 3 per cent stake is $341 million. The company’s shares fell 2.8 percent in Hong Kong during the day. Neither Rusal and Onexim Group, which manages Prokhorov’s assets, or Renova Group,...
Vedanta Resources Plc releases Production report for the Second Quarter and Half Year ending 30th September 2017. Aluminium business reported record quarterly aluminium production. Smelters continue to ramp up through the quarter maintaining a current run-rate of 1.6 mtpa (excluding trial run production). During Q2 FY2018, Vedanta’s aluminium production including trial run increased 36% YoY and 14% QoQ to 401,000 tonnes. The increase was primarily driven by ramp ups at the Jharsuguda II smelter and complete ramp up of the Balco II smelter in Q1 FY 2018. Out of the total 228 pots which were damaged in the April 2017 power outage at Jharsuguda I, 121 pots have been repaired and made operational till date, and the balance pots are expected to be back in action by Q3 FY2018. Jharsuguda II...
Aluminium Bahrain B.S.C. (Alba) managed to remain on course in the third quarter of 2017 with its sales and production volumes topping 247,540 tonnes and 253,475 tonnes respectively, up by 0.5% Year-on-Year (YoY) and 3% YoY as compared to the third quarter of 2016. For the nine months of 2017, the Company sales volume reached 700,629 tonnes, down by 2.4% YoY, while production dropped by 1.9% YoY to reach 706,869 tonnes due to the power outage incident in April 2017. In addition, Alba closed the third quarter and the nine months of 2017 with Value-Added Sales averaging 59% of total shipments. Commenting on Alba’s Sales and Production volumes for this period, Alba’s Chief Executive Officer, Tim Murray said: “We are pleased with the solid 3rd quarter performance on the back of the speedy...
LME aluminium is staggering up the price curve. The light metal contract which ended last week in a drop at around US$2,121.5o per tonne, edged higher on Monday, October 9, to close at US$2,135 per tonne. Overall base metal prices on LME too outperformed their counterparts on Shanghai Futures Exchange (SHFE) on Monday. Shanghai Metals Market predicts that LME aluminium will continue to rise higher, though slowly, and fluctuate within the range of US$2,160-2,185 per tonne on Tuesday, October 10. Reuters’ technical analysis suggests that LME aluminium may retest resistance at US$2,174 per tonne; a break above the level could lead to a gain to the next resistance at U$2,196, while a break below it could cause a loss into the range of US$2,125-$2,139 in the near term. As on October 9, LME...
LME aluminium is on a moderate uptrend. The light metal contract ended last week in a marginal drop from its earlier close at US$2,124 per tonne on Thursday, October 5. The closing price for LME aluminium on Friday, October 6, was US$2,121 per tonne. Shanghai Metals Market (SMM) forecasts that LME aluminium will fluctuate widely within the range of US$2,135-2,165 per tonne around its 5 and 20-day moving averages on Monday, October 9. Source:www.lme.com As on October 6, LME official cash buyer aluminium price (Bid Price) stands at US$2,121 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,121.50 per tonne, 3M Bid Price is US$2,145 per tonne, 3M Offer Price is US$2,146 per tonne, Dec1 Bid Price is US$2,190 per tonne, and Dec1 Offer Price is US$2,195 per tonne. LME...
Rio Tinto, the third largest aluminium producing company in the world, is mulling the sale of its biggest aluminium smelter in Europe after the prices for the metal surged in the last few months. LME aluminium has risen by about 30 per cent this year, and this has lent momentum to Rio’s plan of putting up for sale smelters that are “not powered by hydroelectricity.” Europe’s Dunkerque aluminium smelter which currently operates using electricity generated by an EDF nuclear plant is the latest pick for a selling consideration. The plant came on-stream in 1991, and was acquired by Alcan in the year 2003. It has a capacity of 270,000 tonnes of aluminium per year. The Dunkerque aluminium smelter is not the first property Rio has considered for sale. Last year, the company sold its British...
The National Union of Metal workers of South Africa (Numsa) called off a strike at South32's aluminium smelter in KwaZulu-Natal province after accepting the new wage offer from the latter. South32 confirmed in a statement on Friday that it has reached an agreement with Numsa which supports the long term sustainability of its Hillside operation. Mike Fraser, President and Chief Operating Officer for South32 Africa Region, said: “This agreement supports our goal of managing controllable costs at Hillside and has laid a foundation to work with Numsa to jointly identify opportunities to reduce labour costs.” The Numsa said that its members have agreed a hike of 5.1per cent for all workers and a 5.6 per cent for drivers. Numsa's spokesperson Phakamile Hlubi said: “Our members are satisfied...
Sohar Aluminium, the host and organizers of the 2017 Arab International Aluminium Conference (ARABAL), have announced the full programme for the upcoming global industry event. Set to take place in Muscat from November 7th – 9th 2017, it will feature a two-day conference and exhibition featuring over 60 international experts under this year’s theme of ‘Driving Strategic Growth across the Global Aluminium Industry’. Sohar Aluminium has also confirmed it will be taking delegates, sponsors and media partners on a site tour of its smelter and facilities in Sohar. Regarded as the leading aluminium industry event in the Middle East, ARABAL 2017 will attract over 500 delegates from 30 countries. The conference is held annually and hosted on a rotational basis, and this edition marks the second...
Prebaked anode manufacturing has undergone a paradigm shift. Once strong base-the Americas, have reduced coal production due to stricter environmental rules, and the East (read China) has seized the opportunity to emerge as the biggest producer. The little anode quantity that is produced in the US mainly goes on to fulfil the market demand in Canada. In Venezuela, anodes are used by the local industry. Due to rapid development of the aluminium electrolytic industries and conversion of Söderberg plants to prebake operations, China has achieved an unprecedented growth in prebaked anode production in recent years. It is currently the top anode producing country in the world and accounts for about 50% of the third party anode requirement of Russia, Europe, North America, the Middle East and...
Billionaire Russian industrialist Oleg Deripaska is set to list Russia’s largest independent power and aluminium producer En+ on the London Stock Exchange and in Moscow. The industrialist hopes to raise $1.5bn through the dual listing of the power and aluminium producer En+ to help to lower its $5bn debt pile. En+ would be the largest float of a Russian company in the international market. Mr Deripaska expects the group’s Siberian hydropower business and its low-cost aluminium will attract investors shy of investing in Russia because of geopolitical tensions. The The company also expects this to improve Russia's ties with China, where demand for energy and aluminium is growing more than the global average. It follows a series of deals between Russian and Chinese companies in recent years....
India’s exports have shrunk considerably in FY 2017 alongside a slow growth in the domestic manufacturing sector. As compared to an export target of US$900 billion by 2020, exports were less than a third at US$275 billion in the last financial year. The figure is strikingly lower than FY 2014’s US$314 billion worth exports. A prominent producer of primary aluminium in the global map, India’s non-alloyed aluminium ingot export was valued at US$ 1.89 billion (1092.5 tonnes) in FY2016-17 accounting for 0.68 per cent of the total export. During April to July 2017, India exported 376.02 tonnes of non-alloyed aluminium ingots worth US$737.21 (0.79 per cent of the total export value of US$93.3 billion), revealed data shared by the Export Import Data Bank of India Department of Commerce, Ministry...
LME aluminium has dropped slightly. With the US dollar index moving higher after strong US data, the light metal contract slipped to US$2,124 per tonne on Thursday, October 5, from the earlier close of US$2,139 per tonne. Reuters’ technical analysis suggests that LME aluminium may break a resistance at US$2,174 per tonne and rise to US$2,196 per tonne. The trend line indicates a lower support at US$ 2,161 per tonne. A break below this level could cause a loss for LME aluminium into the range of US$2,125-US$2,145 per tonne in the short term. As on October 4, LME official cash buyer aluminium price (Bid Price) stands at US$2,122 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,124 per tonne, 3M Bid Price is US$2,146 per tonne, 3M Offer Price is US$2,147 per tonne,...
Aluminium, the voice of the entire aluminium value chain, supports the agreement on a new EU trade defence regime that was reached yesterday during a final Trilogue meeting between the European Parliament, Commission and Council in Strasbourg. “If confirmed, this agreement could become a game changer for a strong EU defence regime against unfair trade,” said Gerd Götz, Director General of European Aluminium. Aluminium is enjoying a growing demand from end-use sectors but global excess capacities have created enormous unbalances across worldwide markets. “As there are systemic distortions in the Chinese aluminium industry, it is only fair that the new law focusses on these distortions to trigger the use of non-domestic costs for dumping calculation. We welcome the Commission’s commitment...
Krasnoyarsk hosted IХ International Congress & Exhibition “Non-Ferrous Metals and Minerals – 2017” from September 11 to15 that consists of three industry conferences under the chairmanship of P.V. Polyakov (Doctor of Chemistry, Professor), G. L. Pashkov (corresponding member of the Russian Academy of Sciences, Doctor of Technology, Professor), V.A. Makarov (Doctor of Geology and Mineralogy, Professor). The three conferences were: Aluminum of Siberia Metallurgy of non-ferrous, rare and precious metals Gold of Siberia This year the Congress also hosted an International meeting with the topic “Contemporary issues of comprehensive processing of rebellious ores and technogenic raw materials” and the Plaksin readings Conference. More than 700 experts from 194 companies from 24 countries of the...
LME aluminium has gained further. The light metal contract which closed at US$2,114 per tonne on Tuesday, October 3, reversing its current downtrend toward US$2,066 per tonne, has jumped to US$2,139.50 per tonne on Wednesday, October 4. Reuters’ technical analysis suggests that LME aluminium may test a resistance at US$2,174 per tonne. A break above this level could take the contract to a gain to the next resistance at US$2,196 per tonne. A break below this level could cause a loss to US$2,125 per tonne. So, it is likely that LME aluminium will swing widely within the range of US$2,125-US$2,175 per tonne in the short term. Source: www.lme.com As on October 4, LME official cash buyer aluminium price (Bid Price) stands at US$2,138.50 per tonne, cash seller & settlement aluminium price...
A pioneering metallurgist has been presented with an award for his contribution to the global aluminium industry. The Aluminium Industry Award was presented to Prof. Scamans at the Aluminium Federation’s 2017 Dinner by Aluminium Federation President Giles Ashmead. The event, at Tortworth Court in Gloucestershire, was attended by more than 200 guests from across the aluminium sector. Chief scientific officer at Innoval Technology, Professor Scamans is also Professor of Metallurgy at Brunel University’s BCAST metals research facility. He started his research career in 1974 at Alcan International, initially as research scientist and later as principal scientist, a role he took with him when moving to Innoval Technology in 2003. Over the last 30 years he has initiated and managed a number of...
The Aluminum Association honored U.S. Reps. Larry Bucshon (R-IN-8) and Suzan DelBene (D-WA-1) with its Legislator of the Year awards for 2017. The members, who serve as co-chairs of the bipartisan Congressional Aluminum Caucus, received the recognition during a Monday night reception in conjunction with the association’s annual meeting – “Aluminum Moves America.” “It is an honor to receive The Aluminum Association’s Legislator of the Year award,” said Rep. DelBene. “As someone who represents aluminum workers, I know how much these people and their families appreciate our efforts. I look forward to continuing to work together to protect good-paying, middle-class jobs in the U.S. aluminum industry.” Rep. Buschon added: “The aluminum industry supports nearly 6,000 good-paying jobs in the...
National Aluminium Company (Nalco) and Gujarat Mineral Development Corporation (GMDC) have decided not to go ahead with the aluminium smelter plant project in Gujrat. GMDC said that the company has initiated the process for repayment of the amount to Nalco without interest subject to approval of Government of Gujarat. Nalco had made up front payment of INR 151 crore for setting up the alumina refinery and smelter plant in Kutch district of Gujarat. “Land required for the project has been allocated by the state government and part possession has been taken. Process for obtaining possession of remaining portion of land also is under progress. DPR for 0.5 million TPA plant got prepared by Nalco and is not viable,” GMDC stated in its 54th annual report for 2016-17. “Hence they (Nalco) have...
