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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Canada's leading midstream oil and NGL (natural gas liquids) marketing and logistics company- Petrogas Energy Corp. is poised to take over Alcoa Intalco Works’ wharf and pier at Cherry Point, Washington, reported sources close to both the companies. The pending buy-out will include the state aquatics lease transfer as well. Currently, Petrogas accesses the Cherry Point pier with Intalco's permission, as outlined in the state lease. The NGL supplier employs 30 employees at the Ferndale terminal at present. An agreement has been signed between Intalco and Petrogas which includes selling of property associated with the Ferndale aluminium smelter including the site’s wharf, by the former, updated Intalco spokesman Josh Wilund. The deal, however, will not stop Intalco from operating the...
Aluminium traded on London Metal Exchange hit one-month high on Tuesday, August 16, as dollar slipped, wighed on by signals that the U.S. interest rates would remain on hold, and speculators sped up to buy the metal used in cans to spacecrafts. The dollar index nose-dived to a seven-week low after a policymaker at the U.S. Federal Reserve said that the central banks might have to raise inflation targets to facilitate growth and give support to a much 'looser fiscal policy' in future. "The main drivers seem to be currency and macro today rather than any sudden real changes in fundamentals," observed analyst David Wilson at Citi, London. Price Source: London Metal Exchange Aluminium edged 0.7 per cent higher to touch $1,687, the highest since July 15. The gain in the commodity has triggered...
Navaratna PSE National Aluminium Company (Nalco) delivered an encouraging performance in the 2015-16 fiscal even as about 70 per cent of the world's aluminium producers have reported loss. The company's gross turnover was INR 7,157 crore and net profit INR 731 crore, noted Nalco CMD T K Chand. “Nalco has remained profitable all through by successfully handling the market downturn, by maximising bauxite mining and alumina refining, adding new pots and augmenting production, besides effecting several cost reduction measures, particularly in raw material and energy consumption,” Chand said informing that the Odisha-based aluminium major has been declared as the lowest cost producer of alumina by London-based Wood Mackenzie. The CMD was addressing a gathering in Bhubaneshwar, Odisha on the...
The world’s biggest aluminium maker China Hongqiao Group delivered astounding results in the six months ended June 30. Profit surged 21 per cent driven by output expansion and increasing market share as some of the industry's higher-cost competitors held up production under uncertain market conditions. According to JPMorgan Chase & Co, the company is among the world’s lowest-cost integrated aluminium producers owning a bauxite mine in Indonesia, an aluminium smelter in Guinea, and power plants in China. China Hongqiao's net income reached 3.3 billion yuan (Dh1.8 billion, $496 million) in H1 2016 compared to 2.72 billion yuan in the same period previous year. Revenue scaled 13 per cent higher than 25.4 billion yuan last year, as output improved 28 per cent to 2.71 million metric tonnes,...
The Aluminum Association and the Aluminum Association of Canada reported a total primary aluminium production at an annual rate of 3,967,688 tonnes in North America during July 2016. The rate reports an increase of 9,837 tpy (+0.2%) from 3,957,851 tonnes in June 2016. The production rate in the U.S. as well as Canada was slightly up in the given month. The YoY comparison of the North American production shows a drop of 9.0 per cent from the July 2015 rate of 4,404,055 tonnes. The actual North American production was 2,365,747 metric tonnes through the first seven months of 2016. With the drop in aluminium inventory in China and the rest of the world and the rise in LME aluminium price, the month of July brought some positivity to the North American market.
One of the causes of falling aluminium prices over the past few years was the rise in China’s aluminium exports. But Chinese exports started to calm down this year, helping aluminium prices to recover. China exported 390,000 metric tons of unwrought aluminium in July, down 9.3 per cent from July of last year. Chinese aluminium exports have fallen around 7 per cent for the first seven months of 2016. Lower Chinese aluminium exports suggest stronger aluminium demand in China coupled with some supply cuts. According to the latest figures released by the International Aluminium Institute (IAI), Chinese aluminium production has now fallen on a year-over-year basis in five out of the last six months. For the first half, Chinese aluminium production has fallen by 3.3 per cent compared to the...
SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook. About 64 per cent of them expect SHFE 1610 aluminium to stabilize between RMB 12,200-12,350/mt and LME aluminium between USD 1,630-1,655/mt. Aluminium stocks in domestic five major markets continued growing on Monday, up another 7,000 mt from last Thursday. China’s investment, consumption and industrial value-added data all weakened, and financial data for July also pointed to declines. These will prevent aluminium prices from rising. SHFE 1610 aluminium has met resistance at the 5-day moving average, but found support at the 60-day moving average. Another 22 per cent expect SHFE 1610 aluminium to fall below RMB 12,200/mt and LME aluminium below USD 1,630/mt, citing weakening downstream demand...
The Aluminum Association has announced the addition of three new member companies – UC RUSAL, Tri-Star Glove and MAGNECO/METREL. In addition, the Association introduced a new member category and announced its first ever individual membership for Professor Diran Apelian of Worcester Polytechnic Institute. These additions bring total membership in the Association to 116 companies which reflect the scope and breadth of today’s global aluminium industry. UC RUSAL joins the Association as a producer member – firms that make or fabricate aluminium – while both Tri-Star Glove and MAGNECO/METREL join as associate members – firms that supply the industry with goods and services. Individual members are nominated by the President and Officers of the Association and have a substantial connection or...
Aluminium prices on the LME and SHFE will consolidate at current highs while searching for direction next week, SMM foresees. SMM sees ME aluminium between $1,630-1,680 per tonne and SHFE 1610 aluminium between 12,100-12,500 yuan per tonne. Low aluminium stocks in China will offer support to SHFE aluminium. Spot aluminium in east China market is expected to trade at premiums of 100-150 yuan per tonne over SHFE 1609 aluminium.
At least two traders have approached two or more Japanese buyers for sale of primary aluminium ingot for the fourth quarter of 2016, ahead of producers expected to arrive in Japan in the week of August 22, sources said Wednesday. Offers were not specific yet as the traders appeared to be not in a hurry to close deals. One buyer said he was indicated a sell interest in the range of $68-$70/mt plus London Metal Exchange cash, CIF Japan, for over 500 mt of P1020A-grade aluminium ingot over October to December. Origins are at sellers’ options, but are to be either Australian, Malaysian, Brazilian, South African, Middle Eastern, or of North American origins. Another Japanese buyer said discussions centred on general market outlook rather than premiums and other transaction-related details....
Indian aluminium producer Hindalco, the Aditya Birla flagship company reported the result of Q1 on August 12 and registered a more than four four-fold jump in standalone net profit to INR 294 crore from INR 61.10 crore in the same period of 2015. It was the company’s better operational performance which pulled through the quarter with such huge profit. The total standalone income of the company dropped by 11 per cent to INR 7,716,53 crore from INR 8,667 crore during the same period of 2015. Total expenses of the company declined to INR 6,703.82 crore from INR 7,993.05 crore after the implementation of a number of cost control measures. In their press release the company said that revenues were hit due to a "sharp decline in realisations", while the net profit rose by more than four-fold...
Portland aluminium smelter’s future is hinged on the decision of one of its three owners- whether to terminate the supply contract it has with its power supplier or not, reported individuals who are aware of the developments in the Victoria plant. The decision, if taken, will put as many as 2000 jobs - direct and indirect at risk. Ripple effects of the closure are to be felt in a much promiment manner since the smelter consumes around 10 per cent of Victoria's entire electricity output. The move follows the decision of the Victoria government earlier this year to not extend subsidies provided to keep the plant in operation. The fixed subsidy which is inplace since lat two decades expires in Novemberthis year. There were speculations about the future of the aluminium smelter for several...
Aluminium stocks in China’s five major markets began growing for the second time in nearly five months and saw their biggest weekly growth since mid-March, SMM data showed. It needs to be pointed out, though, that total stocks remain the lowest since March 2009 and down as much as 750,000 tonnes from last August, SMM added. The table below shows details of aluminium stocks at China’s five major markets: Unit: 1,000 tonne
Ma’aden Aluminum, a joint venture of Saudi Arabian Mining Company "Ma’aden" and Alcoa, announced that its smelter & cast house has been awarded the ISO 9001:2015 which is the latest version of the accredited standard & specifications certificate of quality management published by the International Organization for Standardization (ISO). Eng. Abdulaziz Al Harbi, Ma’aden Aluminum CEO, highlighted that this achievement demonstrates Ma’aden Aluminium’s commitment to innovation and to meeting the changing needs and expectations of its customers. “Being the first aluminium smelter in the region accredited by ISO 9001:2015 will enhance the company’s image in the eyes of our customers in national, regional and international markets” he said. “This certification was important for us and has now...
Tajikistan produced 73.1 thousand tonnes of aluminium, in the first half of the current financial year, a 13.6-percent increase compared to the corresponding period previous year, reported industry sources citing Umed Davlatzod, deputy minister of economic development and trade of Tajikistan. Davlatzod said, Tajikistan plans to produce a total volume of 156 thousand tonnes of aluminium this year, 16.4 thousand tons more than last year. The demand for aluminium in the international markets has been decreasing mainly due to the state of economies in developed countries where aluminium finds wide scale use in the automotive sector. Decreasing metal demand leads to falling prices and production decrease. In general, the world prices for Tajikistan’s main export products — aluminium and cotton...
LME aluminium will range USD 1,635-1,655/mt today with resistance at USD 1,650/mt and technical side trending negative. SHFE 1610 aluminium will struggle between RMB 12,300-12,500/mt. In east China’s spot aluminium market, spot premiums of RMB 0-40/mt are expected over SHFE 1608 aluminium contract. Supply stays abundant while demand is soft, leading to oversupply pressure. Key macroeconomic indicators for base metal prices Swing trend will continue on base metal market on Thursday with focus on China’s social financing for July and new RMB loans, and US last week’s initial jobless claims. Housing sales in China slow further in July and falling demand for housing loans will lead to declines in new RMB loans in July. The PBOC mainly withdrew net capital from market in the month, which will...
Aluminium giant Alcoa is nearing its spin-off scheduled for the second half of 2016. The strategic decision of the company has been received well by its investors ever since it was announced last September. Shares of Alcoa have surged more than 14 per cent. However, there remain many regulatory hurdles that the company need to cross before it can effectuate the split. The split will result in creation of a commodity-focussed business which will retain Alcoa's name and will include five upstream segments namely- Bauxite, Alumina, Aluminium, Cast Products and Energy (and a part of the Rolled Products business); and a value-added focussed company called Arconic. It will operate segments such as Transportation, Construction Solutions, Engineered Products and Solutions and Global Rolled...
If the European Commission grants China Market Economy Status (MES) the consequences for the EU aluminium sector will be enormous, an industry group has said. The EU executive said last month that it would focus on new measures to tackle Chinese dumping and illegal subsidies, but won’t decide whether China’s economy is market-driven. MES is controversial because, if granted, trade partners will have to treat China as a free market equal when it comes to settling disputes. Gerd Götz, director general of trade association European Aluminium, recently said that the EU steel crisis has skewed the debate on China’s MES and distracted Brussels from other European industries, such as the aluminium sector, which could face the same fate. “If the EU grants China MES, it would put 80,000 European...
