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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Tajikistan is considering increasing the production of primary aluminium in 2017. The country’s exports of raw aluminium represent 30.4% of the total exports. Turkey is one of the main consumers of country’s aluminium. The country’s largest state-owned company Tajik Aluminium Company (TALСO) has planned to increase aluminium production to 300,000 tonnes by 2020.TALCO official representative Igor Sattarov said: "The production will be brought to 168,800 tonnes in 2018, to 188,800 tonnes in 2019, and to 300,000 tonnes in 2020." According to the recent estimate, in 2015, Tajikistan exported 127421 tons of aluminium. The country exported around 141514 tons of aluminium in 2016. Tajikistan is estimated to export around 128911 tons of aluminium in 2017. In 2015, the total revenue from the...
The China aluminium market is fluctuating almost every day as the news of aluminium capacity cut in the country is slowly fading down. However, A00 Aluminium Ingot prices in China have registered a rise for two days consecutively after a fall. The average price of A00 Aluminium Ingot would range between RMB16,340 – 16,380/t and today’s average price stands at RMB 16,360/t, up from RMB 16,180/t yesterday. We can see the quick price fluctuation of A00 ingot prices in last one month in the below graph after a rapid jump in the middle of August. A00 Aluminium Ingot in spot China market is trading at discounts of RMB 140 - 100/t. Average prices for A00 ingot in the major Chinese markets for September 13 are given in the table below: Among the domestic markets, the average price for A00...
LME aluminium continues to move widely. The light metal which ended at US$2,100.50 per tonne on Monday, September 11, came down to US$2,083 per tonne on Tuesday, September 12. However, the uptrend in aluminium prices is not over yet. According to Reuters’ technical analysis, LME aluminium will rise and retrace to US$2,114 per tonne before testing a resistance at US$2,148 per tonne. Shanghai Metals Market observes that LME aluminium will not break through the resistance unless aluminium prices at Shanghai Futures Market register a significant rise. According to SMM forecast, LME aluminium will range at US$2,125-2,148 per tonne on Wednesday, September 13. As on September 12, LME official cash buyer aluminium price (Bid Price) stands at US$2,082.50 per tonne, cash seller & settlement...
Azerbaijan’s State Property Issues Committee and the Ministry of Economy prepared proposals for the improvement of Azeraluminium JSC. This was stated in a report on evaluation of the results of implementing the Strategic Road Map for the development of heavy industry and machinery in Azerbaijan. The prepared proposals also include the possibility of granting deferral for the company to pay its credit obligations, as well as exemption of alumina and anodal blocks’ import from value-added tax. “As of today, a draft Action Plan for development of the aluminum industry in Azerbaijan as well as a draft order of the Azerbaijani president on its approval are already ready,” said the report. At the same time, proposals were prepared to start building the second phase of the project to bring up...
The Aluminum Association and the Aluminium Association of Canada reported primary aluminium production at an annual rate of 3,960,203 tonnes in North America (U.S. and Canada) during August 2017. The rate reports an increase of 16,072 tpy (+0.4%) from the July 2017 rate of 3,944,131 tonnes. The production rate in the U.S. declined seven-tenths of one percent m/m, while the Canadian rate increased seven tenths of one percent. The actual North American production decreased 2.4 per cent from a year ago to 2,634,612 tonnes through the first eight months of 2017. Statistics Canada report that Canada’s Industrial Product Price Index (IPPI) declined 1.5 percent in July (111.8). The prices of alumina and aluminium production decreased 2.6 percent from June, but were up 9.7 percent over a year ago.
Seeking support from the rising aluminium contracts traded at Shanghai Futures Exchange (SHFE), aluminium prices at London Metal Exchange rose from its current lows of US$2,072 per tonne to US$2,100.50 per tonne on Monday, September 11. Reuters’ technical analysis suggests that LME aluminium will retrace US$2,103 per tonne on Tuesday; a break below the level may lead to a moderate loss. However, any loss would be limited to US$2,082 per tonne. According to Shanghai Metals Market forecast, LME aluminium will range at US$2,110-2,135 per tonne on Tuesday, September 12. As on September 11, LME official cash buyer aluminium price (Bid Price) stands at US$2,100 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,100.50 per tonne, 3M Bid Price is US$2,128 per tonne, 3M...
Aluminium Bahrain B.S.C. (Alba), the first aluminium smelter in the Gulf region, has been making steady progress with the execution of its flagship development, the Line 6 Expansion Project, according to a statement issued by the Chairman of the Alba Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The site preparation, earthworks and concrete (including precast) works continue to ramp-up with the overall project progress at 25% through the end of July (including 50% progress in engineering and 70% progress in procurement and contracts). In addition, the first structural steel is scheduled for erection in the new pot room in September 2017. Shaikh Daij added: “We are delighted to see that the Line 6 Expansion Project continues to progress on schedule as that will accelerate...
Yunnan province’s aluminium production data has been released by Yunnan Industry Information Commission. The province aluminium production stood at 108,600 tonnes in July. Yunnan produced 748,200 tonnes of aluminium during January-July. Yunnan has aluminium smelting capacity of about 1.7 million tonnes per year, according to consultancy CRU. Almost all of province’s capacity is held by provincial government-controlled Yunnan Aluminium. Recently, the province announced the commencement of safety inspections from September 11, on aluminium, iron and steel plants as part of a crackdown on outdated capacity. In other news from SMM, Shanxi Chalco Huarun Co., a coal-power-aluminium integrated company will start its aluminium project operations at the end of this month. Aluminium project has an...
In a sign of the prevailing bearishness, LME aluminium dropped marginally from its earlier close of US$2,075 per tonne on Thursday, September 7, to US$2072 per tonne on Friday, September 8. According to the Shanghai Metals Market forecast, the light metal contract will drop further into the range of US$2,080-2,105 per tonne today as the bearish trend is likely to continue over the short term. As on September 8, LME official cash buyer aluminium price (Bid Price) stands at US$2,071 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,072 per tonne, 3M Bid Price is US$2,095 per tonne, 3M Offer Price is US$2,096 per tonne, Dec3 Bid Price is US$2,217 per tonne, and Dec3 Offer Price is US$2,222 per tonne. LME aluminium Opening Stock stands at 1321500 tonnes, total Live...
On the back of tightness in the supply of calcined coke and rising prebaked anode price, Xinjiang Qiya Aluminum & Electricity Co. has announced building of a captive prebaked anode project to feed its own plant. The project involves an investment of 20 million yuan and would have an annual capacity of 200,000 tonnes. The company is also developing a residual heat recycling project, which could save 28,673.16 tonnes of raw coal annually. This is a significant development on the back of strict environmental scrutiny faced by petcoke producers in China. In another update from SMM, Shanxi Chalco Huarun Co., an integrated metal and mining company with coal, power and aluminium production; has announced that they would commission an aluminium project at the end of September. The project, which...
Saudi Arabian Mining Co (Ma’aden), the Gulf’s largest mining company, has asked banks to submit proposals for a loan which would refinance some $2.88 billion of existing debt, sources familiar with the matter said on Wednesday. It sent a request for proposals to banks last week and the banks have until the end of September to respond, the sources said. The facility would be the largest corporate loan out of Saudi Arabia since 2015, according to Thomson Reuters data. The state-controlled miner is raising the financing for Ma‘aden Aluminium, an integrated aluminium facility. France’s BNP Paribas and Saudi Arabia’s National Commercial Bank are coordinating the fundraising, which could be completed by the end of the year, one of the sources said. Ma‘aden and BNP Paribas declined to comment,...
The China aluminium market is fluctuating almost every day over the uncertainty regarding the current aluminium capacity cut in the country. Both A00 Aluminium Ingot and aluminium alloys ingot prices in China have dropped on August 8 throughout all markets. All SHFE base metals prices plunged at around 2:00 pm September 8, with the exception of tin. The average price of A00 Aluminium Ingot would range between RMB15,920 – 15,960/t and today’s average price stands at RMB 15,940/t. Average prices in the major Chinese markets for September 8 are given in the table below: A00 Aluminium Ingot in spot China market is trading at discounts of RMB 130 - 90/t. Among the domestic markets, the average price for A00 Aluminium Ingot for South China market remains the highest today. Aluminum...
With the US dollar index falling amid North Korea jitters, LME aluminium recovered some strength and rose higher from its earlier close of US$2,069.50 per tonne to US$2,075 per tonne on Thursday, September 7. Reuters’ technical analysis suggests that LME aluminium may revisit US$2,145 per tonne as its correction from this level seems to have reached completion. According to Shanghai Metals Market forecast, the light metal contract is likely to hold firm at US$2,095-2,120 per tonne on Friday, September 8, on technical support and weak dollar. As on September 7, LME official cash buyer aluminium price (Bid Price) stands at US$2,074 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,075 per tonne, 3M Bid Price is US$2,095.50 per tonne, 3M Offer Price is US$2,096.50 per...
Nigeria is the 49th largest export economy in the world and the 107th most complex economy according to the Economic Complexity Index (ECI). The country exports raw aluminium and scrap aluminium to name a few around the globe. {newsStudioGallery} Nigeria’s Alscon, an 85%-owned subsidiary of Russia's UC Rusal, has an annual production capacity of 193 thousand tonnes of aluminium. Aluminium exports by Nigeria have increased significantly over the last two years and are expected to follow the trend in the coming years. Japan is the major importer of aluminium from the country. According to the estimated data, in the year 2015, export of aluminium stood at about 55999 tonnes. The volume increased to 63111 tonnes in 2016. The aluminium export is estimated to rise significantly in 2017. The...
LME aluminium prices are set for further correction. The light metal contract which closed at US$2,082 per tonne on Tuesday, September 5, came down by 0.6 per cent to close at US$2,069.50 per tonne after night trading on Wednesday, September 6. Reuters’ technical analysis suggests that LME aluminium may fall further towards US$1,958 per tonne in the near term as it failed to break a key resistance at US$2,119 per tonne. On breaking above US$2,114 per tonne mark, it may rise up to US$2,125 per tonne. According to Shanghai Metals Market forecast, LME aluminium positions improved significantly; so, it should move higher within the range of US$2105-2,125 per tonne on Thursday, September 7. As on September 6, LME official cash buyer aluminium price (Bid Price) stands at US$2,069 per tonne,...
According to a Shanghai Metals Market analysis, SHFE 1711 aluminium will move within a range of RMB 16,280-16,450/t over the day, testing support at the 20-day moving average, after the big drop today. In east China’s spot aluminium market, spot discounts are expected at RMB 200-160/t over SHFE 1709 aluminium contract. SME aluminium price graph SMM Aluminium premiums in Guangdong over Shanghai narrowed slightly to around RMB70 /tonne on Tuesday. Mainstream traded prices were 16,230-16,250 yuan/tonne in Guangdong market. The drop in SHFE aluminium price has generated a strong wait-and-see sentiment among buyers, causing a slowdown in trading activities. On the other hand, stocks in China are expected to add up more with legal new and idled capacity coming into operations very soon....
LME aluminium seems to have temporarily reversed its uptrend though it is too early to predict a direction. The light metal contract dropped to US$2,082 per tonne after night trading on Tuesday, September 5, down 0.64 per cent from its earlier close of US$2,095.5 per tonne on September 4. Reuters’ technical analysis suggests that LME aluminium may break support at US$2,089 per tonne, and fall further to US$2,068 per tonne on Wednesday, September 6. According to Shanghai Metals Market forecast, LME aluminium will test support at the 20-day moving average and range at US$2,080-2,105 per tonne on Wednesday, September 6. As on September 5, LME official cash buyer aluminium price (Bid Price) stands at US$2,081 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,082 per...
China’s Guangxi province has set capacity target for next year. Baise City in Guangxi Province sets a goal for local alumina, aluminium and aluminium processing capacity, according to Shanghai Metals Market. The city intends to boost alumina capacity to 10 million tonnes, aluminium capacity to over 2.6 million tonnes and aluminium processing capacity to more than 3.2 million tonnes by 2018. Guangxi Province is a major producer of alumina and aluminium. Province’s aluminium production is expected to increase further. In June, Baise Mining Group initiated the production of its Coal-Power-Aluminium Integrated project at Guangxi province. The project would produce aluminium with Al content as high as over 99.99 per cent.
