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...
Grow with
AL Circle
In east China spot aluminium market, traders bought actively out of bullishness. Downstream producers sourced metal according to their need. Environmental issues continue to hurt production for both primary and downstream producers. Mainstream traded prices were RMB16,160-16,200 /tonne in Shanghai on Tuesday, RMB16,160-16,200 /tonne in Wuxi and RMB16,160-16,180 /tonne in Hangzhou. Spot discounts of RMB 200-170 /tonne over SHFE 1709 aluminium were offered in the markets. SHFE 1711 aluminium is expected to move around RMB 16,500-16,700/mt on Tuesday after the big drop yesterday. In another update, SMM statistics showed that aluminium stocks in China’s seven major markets, including SHFE aluminium warrants, kept on adding up to new highs. As on September 4, the total aluminium stocks in...
A global aluminium producer has offered Japanese buyers a premium of $100 per tonne for primary metal shipments during the October to December period, down 15 per cent to 16 per cent from the current quarter, three sources directly involved in pricing talks said on Monday, September 4. Another seller has sought a premium of $110 a tonne, down 7 per cent to 8 per cent from the price for shipments over the July to September period, the sources said. Japan is Asia’s biggest aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region.
The Production Safety Supervision and Administration Department of Yunnan Province issued a notice which states the commencement of safety inspections from September 11, on aluminium, iron and steel plants as part of a crackdown on outdated capacity, Reuters reported. According to the notice, smelters that do not meet the requirements will have to make improvements before the end of this year or weed out. According to consultancy CRU, the province has aluminium smelting capacity of about 1.7 million tonnes per year, compared with China’s total of just over 45 million tonnes per year. Almost all of province’s capacity is held by provincial government-controlled Yunnan Aluminium. Yunnan’s safety checks are separate from the national Ministry of Environmental Protection inspections. Beijing,...
LME aluminium declined sharply after the U.S. Labour Day weekend, as U.S. crude prices rose on returning refineries. The light metal contract, which ended last week Friday at US$2,113.50 per tonne, came down to settle at US$2,095.50 per tonne on Monday, September 4. Reuters’ technical analysis suggests that LME aluminium may break an important support at US$2,103 per tonne, and fall further to the US$2,081-2,089 per tonne range on Tuesday, September 5. According to Shanghai Metals Market forecast, LME aluminium will draw support from the 5-day moving average and move within the range of US$2,105-2,130 per tonne on Tuesday, September 5. As on September 4, LME official cash buyer aluminium price (Bid Price) stands at US$2,095 per tonne, cash seller & settlement aluminium price (Offer price)...
Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, will work with the Massachusetts Institute of Technology on six new practical research projects at EGA later this year. MIT is the leading research university in the United States. The new projects extend EGA’s partnership with MIT’s David H. Koch School of Chemical Engineering Practice, a programme through which post-graduate students apply their academic knowledge and expertise by suggesting 'out of the box' solutions for industrial problems. Dr. Alan Hatton, the director of the school, and Dr Brian Stutts, who runs the school’s projects with industrial companies, visited EGA to finalise the new projects. EGA has worked with the MIT programme since 2015. The programme has a history...
LME aluminium remained buoyed up, unchanged for two consecutive days ahead of the weekend. The light metal contract closed at US$2,113.50 per tonne on Friday, September 1, showing a clear uptrend through its day’s performance. Shanghai Metals Market (SMM) suggests that LME aluminium will continue to rise further to US$2,130-2,155 per tonne on Monday, September 4, as China is mulling intensifying its aluminium smelter capacity cuts and environmental checks. The green metal hit the highest last Friday (since February 2013) due to bullish trends in other base metals and a drop in the US dollar index. According to SMM, the upward momentum will extend over the short term. As on September 1, LME official bid price of aluminium stands at US$2,113 per tonne, offer price is US$2,113.50 per tonne,...
SMM observes that there is a good chance of prebaked anode supply shortfall during winter heating season. Environmental inspections have caused tightness in supply of calcined petroleum coke, the raw material for anode. The shortage has also caused calcined coke prices to go up steadily sending ripple effects to prebaked anode prices. SMM also says that Weiqiao Group is still negotiating with prebaked anode suppliers over prices for delivery in September. The price will probably be set at 420 yuan/tonne, much higher than the previously expected market price of RMB200/tonne. Higher prices of prebaked anode are expected to keep aluminium prices strong in the near and long term.
Anil Agarwal, chairman of Vedanta Resources, the metal and mining conglomerate has announced his plans to invest around INR 50,000 crore on business expansion in India in the next few years. "I have promised the government that the group will invest Rs 40,000-50,000 crore. My shareholders and my banks abroad would be very pleased with my plan," he said. He also hopes the taxation issues between Cairns India and the Government will also be sorted soon. He insisted that this decade is the best period to invest in India. He is of the view that the new bankruptcy law and Goods and Services Tax (GST) will help improve the business environment and attract global investors to India. The Income-Tax Department has seized USD 104 million dividend due to Cairn Energy Plc from the remaining stake in...
Prebaked Carbon Anodes are a particular type of consumable electrodes (anodes) designed for aluminium smelting through the Hall-Héroult process. During the smelting process, these carbon anodes are suspended within the electrolysis cell(s) containing the electrolyte, which is primarily aluminium oxide (Al2O3). In the process, prebaked anode is consumed at a rate of approximately 450 kg of anode per tonne of liquid aluminium produced. With the demand for aluminium rising across a wide cross-section of industries, prebaked anode prices have been trending high over the last three years. Talking about market, China has emerged as the global giant in the aluminium sector; and hence, one of the key driving forces for prebaked anode demand and prices. Shanghai Metals Market observed that...
The board of Vedanta Limited has on Thursday announced the appointment of Kuldip Kaura as the interim chief executive officer from September 1, 2017 as former CEO Tom Albanese steps down on August 31. In the meantime the search for a new CEO is going on. Kaura has held various senior management and leadership roles with the group for 15 years by virtue of which "he has extensive knowledge of Vedanta’s operations", the release said. "On behalf of the board and my colleagues at Vedanta, I thank Tom for his significant contribution to the business and wish him all the best for his future endeavours. Kuldip has the full support of the board and the management team and I am certain that he will ensure a smooth transition as we identify a permanent CEO." chairman, Vedanta, Navin Agarwal said....
Rio Tinto has completed the sale of its wholly-owned subsidiary Coal & Allied Industries Limited to Yancoal Australia Limited. From today, Yancoal takes over management of Rio Tinto’s thermal coal business in the Hunter Valley region of New South Wales. Rio Tinto will receive total consideration of $2.69 billion for the sale, together with customary adjustments for net debt and net working capital at completion. The $2.69 billion comprises $2.45 billion in cash paid today and a further $240 million of unconditional guaranteed royalty payments. The first royalty payment of $10 million was made today and an additional $100 million will be received by the end of this year. A further $90 million is expected before the end of 2018. Under the terms of the sale, Rio Tinto may also receive an...
SHFE Aluminium bounced back yesterday, August 31 after the drop the day before. Rally in SHFE 1709 aluminium encouraged traders to throng the east China spot market. Downstream producers still bought as per their demand. Mainstream traded prices for aluminium were RMB16, 220-16,260/tonne in Shanghai, RMB16,220-16,250/tonne in Wuxi and RMB16,200-16,220/tonne in Hangzhou. Spot discounts of RMB 250-240/tonne were offered over SHFE 1709 aluminium. During Thursday’s night trading, most of the base metals finished higher, especially aluminium, zinc and nickel. SHFE 1711 aluminium is expected to fall back to RMB 16,560-16,740/tonne on Friday. SMM continues to observe that many downstream producers in Zhejiang closed operations due to environmental issue, hurting local demand for aluminium....
LME aluminium strengthens again. The light metal contract which closed at US$2,066.5 per tonne on Wednesday, August 30, edged higher to close at US$2,113.5 per tonne on Thursday, August 31. According to Shanghai Metals Market forecast, LME aluminium may continue to hover at highs in the short term but will lack any further upward momentum. On Friday, September 1, it is expected to range at US$2,110-2,140 per tonne. As on August 31, LME official cash buyer aluminium price (Bid Price) stands at US$2,113 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,113.50 per tonne, 3M Bid Price is US$2,130 per tonne, 3M Offer Price is US$2,132 per tonne, Dec1 Bid Price is US$2,170 per tonne, and Dec1 Offer Price is US$2,175 per tonne. LME aluminium Opening Stock stands at...
LME aluminium continues to move in a wide trading range. From the earlier close of US$2,092 per tonne on Tuesday, August 29, the light metal contract fell to US42,066.5 per tonne on Wednesday, August 30. According to Shanghai Metals Market forecast, LME aluminium will continue to hover around its 5-day and 10-day moving averages in the foreseeable future, and range at US$2,075-2,100 per tonne on Thursday, August 31. Reuters’ technical analysis suggests that LME aluminium is neutral in the US$2081-2,103 per tonne range; any escape from this bracket would suggest a trend. An extend stay below US$2,119 per tonne level might enhance the chance of the light metal going down towards US$1,958 per tonne. As on August 30, LME official cash buyer aluminium price (Bid Price) stands at US$2,066 per...
Yunnan Aluminium Co Ltd., one of China's major aluminium producing companies, announced that the company has decided to acquire aluminium manufacturer Qujing Aluminum Co. for 35 million yuan. Qujing Aluminum Co. has a production capacity of 380,000 tonnes per year. Yunnan Aluminium will 94.35% stake in Qujing Aluminum Co. The acquisition will allow the company to expand its total production capacity to 1.6 million tonnes per year, as reported by SMM. Yunnan Aluminium Co Ltd. engaged in aluminium smelting as well as the manufacture and supply of aluminium semi-finished products. The company announced its production target for aluminium and other products for the second half of 2017. Yunnan Aluminum sets a goal to produce 650,000 tonnes of alumina, 600,000 tonnes of primary aluminium, and...
Despite political uncertainty, German aluminium industry grew satisfactorily in the first half of 2017, supported by overall growth of the economy. Aluminium producers and converters combined, the total production increased year-on-year. The volume excludes aluminium semis production which dropped marginally during the period under review. As per the Joint German Occupational Safety and Health Strategy (GDA) data, German aluminium sector produced around 660,900 tonnes of aluminium during January-June 2017, up 5.7 per cent YoY. The figure comprises 273,100 tonnes of primary aluminium and 387,800 tonnes of recycled aluminium. While primary aluminium production was up by 0.7 per cent, production of recycled aluminium was higher by 9.6 per cent than the same period previous year. Aluminium...
Russia's public sector power company Rushydro may join Rusal’s new aluminium smelter project in Siberia, as shared by the board chairman of the company to Reuters. Rusal, the world's No.2 aluminium producer is resuming work on the Taishet project now which was on halt due to low aluminium prices. "We will discuss this at the board meeting. In general, I think that taking such a decision (to join the Taishet project) is possible," said Yuri Trutnev, also Russian deputy prime minister in charge of developing the Far East. If this project comes into operation, Rushydro will be able to sell its excess power and Rusal would return to its pre-economic crisis aluminium output levels of over 4 million tonnes per year. Rusal’s current aluminium output stands at 3.7 million tonnes. Rushydro's board...
Sohar Aluminium, the host of the upcoming ARABAL 2017 conference, will bring more than 60 international renowned experts from a broad spectrum of the global aluminium industry to Oman. Joining over 500 delegates and exhibitors, these experts will share their insights and expertise over a range of topics related to the conference theme of ‘ Driving Strategic Growth across the Global Aluminium Industry’ . Scheduled to be held in Muscat from the 6 th -9 th of November 2017, at Shangri-La Barr Al Jissah Resort & Spa, the industry event is set to be the ideal platform to share ideas that will drive growth and feed into the region’s ongoing economic diversification strategies. One of the most anticipated sessions, the Industry Keynote Panel, features high level representatives from ARABAL...
