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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LME aluminium seems to be somewhat losing its steam. The light metal which closed at US$2096.50 last Friday, August 25, dropped to US$2,092 per tonne on Tuesday, August 29. As per Shanghai Metals Market forecast, LME aluminium will continue to move widely around the 5-day and 10-day moving averages and range at US$2,075-2,100 per tonne on Wednesday, August 30. Reuters’ technical analysis suggests that LME aluminium may retrace US$2,065 per tonne, the low reached on August 25, as its correction has yet not completed. As on August 29, LME official cash buyer aluminium price (Bid Price) stands at US$2,090 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,092.50 per tonne, 3M Bid Price is US$2,103 per tonne, 3M Offer Price is US$2,104 per tonne, Dec1 Bid Price is...
On Tuesday’s night trading, SHFE base metals mostly finished lower, including aluminium and today SHFE base metals are expected to hover at highs. SHFE 1711 aluminium will move within RMB 16,200-16,550/t today, with resistance at the 5-day and 10-day moving averages. SMM reports shortage of calcined coke in China, the raw material for making prebaked anode. Despite meeting all environmental protections standards, one prebaked anode producer in Shanxi is suffering from calcined coke shortages and running at 75% of its capacity. The fall in production of prebaked anode may trigger supply shortfall and which may lift the prices of prebaked anode in the near term. Henan Shenhuo Group, an integrated commodity producer, which, together with its subsidiaries, produces primary aluminium as well...
Potline failure in aluminium smelters has long been a serious technological issue for primary aluminium producers. In last five years, as many as nine big aluminium smelters of the world faced major potline failure challenges which resulted in loss of man-hours and productivity up to varying extents. Time and again companies have engaged in extensive technology upgrades to combat the effects of potline failure, but only a handful of them were able to somewhat lower the frequency of the incidents. AlCircle in its exclusive report “Power Outage and Potline Failure in Aluminium Smelters: Observations and Recent Case Studies (2013-2017)” has tried to join the dots by looking into some of the major potline failure incidents that happened between 2013 and 2017. The report has already caught the...
Hydro announced the grand opening of the new pilot plant located at its existing aluminium plant in Karmøy, Norway. The new plant is the world’s most climate-friendly aluminium production technology, according to the company press release. The 60 new electrolysis cells will produce 75,000 tonnes of primary aluminium a year. First metal from the technology pilot is expected towards the end of this year. Hydro President and CEO Svein Richard Brandtzæg said: “This is a technological breakthrough. No one has managed to produce aluminium with such low energy consumption and high productivity as Hydro will at full-scale production.” “Hydro is very proud that we have managed to develop a technology that reduces energy consumption, on average, by about 15 percent per kilo of aluminium produced,...
Cash crunch at the month’s end has slowed down trading activities in China’s spot market for aluminium. Downstream producers in south China market have maintained a wait and watch stance against weakening SHFE ALUMINIUM. Mainstream traded prices were 16,090-16,130 yuan/tonne in Guangdong, a premium of 90 yuan/tonne over Shanghai. SHFE 1711 aluminum opened at RMB 16,320/mt on Monday and went up to RMB 16,525/mt in the afternoon. But, prices then fell back on short selling, and ended at RMB 16,450/mt. For SHFE 1711 aluminum, trading volumes rose to 283,892 lots. SHFE 1711 aluminium is expected to fluctuate at highs in the short term. Optimism in the aluminium market has proved beneficial for the stocks of major aluminium producers in China. CITIC Trust spent $700 million in buying 10% of...
LME aluminium remained unchanged at US$2,096.50 per tonne till yesterday, August 28, as London Stock Exchange was closed due to summer bank holiday. On resuming trading today, the light metal contract is expected to fall in the range of US$2,060-2,085 per tonne. As per Shanghai Metals Market forecast, LME aluminium will meet resistance at the 5-day and 10-day moving averages on Tuesday, August 29. As on August 25, LME official cash buyer aluminium price (Bid Price) stands at US$2,095.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,096.50 per tonne, 3M Bid Price is US$2,097 per tonne, 3M Offer Price is US$2,099 per tonne, Dec1 Bid Price is US$2,137 per tonne, and Dec1 Offer Price is US$2,142 per tonne. LME aluminium Opening Stock stands at 1321600 tonnes, total...
Aluminium production in India is projected to rise at a compound annual growth rate (CAGR) of 3.5 per cent over the next 2-3 years fuelled by the rising domestic demand, according to a new report by CARE Ratings. The report titled “Aluminium Industry: The Silver Knight of the Economy,” says that various central government initiatives like Smart Cities campaign along with ramping up of the existing aluminium smelter capacities would boost the overall output. Owing to its low-cost advantage, surplus primary metal stock will continue to be exported earning foreign revenues for the country. According to CARE, aluminium consumption growth in India is likely to be driven by the growth in electrical and power transmission, and automobile sector. Demand from the building and construction sector...
On last Friday’s night trading, all base metals on SHFE including aluminium fell back and registered obvious declines, except copper. Prices are expected to fluctuate at highs after fallback. SHFE aluminium is expected to hover within a range of RMB16,150-16,450/t on Monday, August 28. In another update, SMM observes that aluminium stocks in China’s seven major markets have added another 57,000 tonnes week-on-week to 1.53 million tonnes this week. The growth in stock is mostly driven by slow consumption Due to off-season slow demand and higher aluminium prices, downstream producers are buying cautiously and working with stocks in hand. Some downstream producers have halted production as a result of environmental inspection which has further affected aluminium demand. Aluminium producers...
LME aluminium corrected down from the highs of US$2,105 per tonne on Thursday, August 24, to US$2,096.50 per tonne on Friday, August 25. Though the correction, analysts say, is reasonable following the huge price gains, it is likely to give in to a wide-range trading in the short term. According to Shanghai Metals Market forecast, LME aluminium will fluctuate widely around its 5-day moving average in the range of US$2,050-2,085 per tonne on Monday, August 28. As on August 25, LME official cash buyer aluminium price (Bid Price) stands at US$2,095.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,096.50 per tonne, 3M Bid Price is US$2,097 per tonne, 3M Offer Price is US$2,099 per tonne, Dec1 Bid Price is US$2,137 per tonne, and Dec1 Offer Price is US$2,142 per...
Yunnan Aluminium Co Ltd., one of China's major aluminium producing companies, has announced its production target for aluminium and other products for the second half of this year, according to Shanghai Metals Market. Yunnan Aluminum Co. sets a goal to produce 260,000 tonnes of carbon, 650,000 tonnes of alumina, 600,000 tonnes of primary aluminium, and 310,000 tonnes of aluminium processed products in the second half of 2017. The company’s large alumina project in Laos will come up in H2 2017. The company’s revenue increased 42.22 per cent year-on-year to 10.11 billion yuan in the first half of 2017. Yunnan Aluminium posted net profit of 147 million yuan in H1 2017, up 187.70 per cent year-on-year. For the full year ended March 31, 2017, it reported 111 million yuan in net profit, up...
With the LME cash official aluminium price rising 11.4 per cent year-to-date and 16.7 per cent year-on-year to US$1,909 per tonne at the end of June 2017, Rusal’s profit more than doubled reaching US$283 million during the second quarter of the current financial year. The world’s second largest aluminium producer by annual output improved revenue by 24 per cent year-on-year to US$2.47 tonnes. Net debt at the end of the quarter stood largely unchanged at US$8.34 billion. The company said it would pay an interim dividend of US$0.0197 per share totalling up to US$300 million (estimated). Rusal’s revenue for the three months ended June 30 was US$2,467 million, compared to US$1,982 million in the same period previous year. For the six months ended June30, the company’s revenue rose to US$4,764...
<p>China’s Work Safety Commission of the State Council has confirmed that domestic aluminium smelter capacity will be under “rigorous control,” a news that drove aluminium contracts at the Shanghai Futures Exchange up to US42,500 per tonne.</p> <p>The Shanghai Metals Market weekly average aluminium price also continued to rise sharply in the week ending August 25. The weekly average aluminium price gained by US$50.12 per tonne to stand at US$2,422.53 per tonne as on Friday, August 25. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminiumcapacity.jpg" alt="News" width="517" height="342" /></p> <p>China State Council has been supervising production safety checks across the country since August...
<p>BHP Billion spin-off South32 Limited announced Thursday, August 24, that it has ended its last financial year in profit. The company’s revenue improved significantly, thanks to its high operating leverage and higher commodity prices. South32 has a product portfolio that encompasses bauxite, alumina and aluminium.</p> <p>Notably, BHP Billiton announced its annual results much in the same line as South32 last Tuesday, August 22. The natural resource giant returned to profit last financial year following heavy losses a year ago.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/South32logo.jpg" alt="News" width="517" height="258" /></p> <p>South32’s revenue rose 20 per cent year-over-year from US$5.81 billion to...
<p>LME aluminium inches higher again and is back to where it was a couple days before. The light metal contract after dropping to US$2,082.50 per tonne on Wednesday, August 23, rose back to US$2,105 per tonne on Thursday, August 24. However, this rise is unlikely to extend in the short term. According to Shanghai Metals Market forecast, LME aluminium will continue to test support at the five-day moving average and range at US$2,085-2,105 per tonne on Friday, August 25.</p> <p>Reuters’ technical analysis suggests that LME aluminium may fall into the range of US$2,068-2,081 per tonne. Any further gain would be limited to US$2,125 per tonne. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug25.png"...
<p>Aluminium prices in China registers a significant leap today after falling consecutively for two days. The price of aluminium closes on a six-year high today on speculation that the latest limits on expanding output capacity will help curtail oversupply. The aluminium price per tonne on the Shanghai Futures Exchange rose as much as 3.2 per cent on Thursday to RMB16,650/t.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/china%20alu%20supply.jpg" alt="News" width="517" height="226" /></p> <p>SHFE 1710 aluminium fell to RMB 16,090/mt due to exit of longs after opening at RMB 16,285/mt on Wednesday. However, the contract recovered losses during night trading and expected to challenge new highs between RMB...
<p>On failing to break a key resistance at US$2,125 per tonne, LME aluminium retraced to US$2,080 per tonne level. The light metal contract closed at US$2,082.50 per tonne on Wednesday, August 23, coming down from its earlier high of US$2,104.50 per tonne a day before. According to Shanghai Metal’s Market forecast, LME aluminium is estimated to range widely within US$2,085-2,120 per tonne on Thursday, August 24.</p> <p>Reuters’ technical analysis suggests that LME aluminium may again rise in the short term, but any gain would be limited to US$2,125 per tonne. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAlu_Aug24.png" alt="News" width="517" height="278" /></p> <p>As on August 23, LME official cash...
<p>As China is busy drawing up implementation regulations for its environmental protection tax law, aluminium producers in India and elsewhere stand benefitted from the price impact the Asian country has on the global light metal industry.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/BSE.jpg" alt="News" width="517" height="387" /></p> <p style="text-align: center;"><em>Source: Google</em></p> <p>Aluminium accounts for nearly 50 per cent of the revenue of National Aluminium Company Limited (NALCO) and Hindalco, and around 30 per cent of Vedanta. With the LME aluminium price hovering above US$2,100 per tonne on worries over supply from China, the shares of all these three Indian aluminium majors have surged high on the...
<p>Both traders and downstream producers thronged into east China spot aluminium market today when SHFE aluminium fell back for two consecutive days. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/alustock.jpg" alt="News" width="517" height="226" /></p> <p>The mainstream traded prices for SHFE aluminium were RMB15,900-15,920 /tonne in Shanghai, RMB15,900-15,920 /tonne in Wuxi, and RMB15,930-15,950 /tonne in Hangzhou. Contracts were traded with spot discounts of RMB 90-140 /tonne over SHFE 1709 aluminium. </p> <p>In the midst of growing capacity and slow demand, Inner Mongolia Jinlian Aluminum Co., Jinjiang Group’s subsidiary, has reported cuts in aluminium capacity. According to SMM, the company has cut...
