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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<p>After a temporary dip below US$2,100 per tonne mark, LME aluminium is back to where it was last week. Drawing support from positive market fundamentals the light metal edged higher to US$2,104.50 per tonne after night trading on Tuesday, August 22, from the earlier close at US$2,084.50 per tonne on August 21. </p> <p>Reuters’ technical analysis suggests that LME aluminium is still targeting a range of US$2,046-US$2,055 per tonne, as it is yet to complete the correctional reversal from the high of US$2,112 on August 17.</p> <p>According to Shanghai Metals Market forecast, LME aluminium will drop and range at US$2,060-2,090 per tonne on Wednesday, August 23, since aluminium stocks at LME registered warehouses are beginning to rise. </p> <p style="text-align:...
<p>The exclusive aluminium industry report by AlCircle titled <strong>Potline Failure in Aluminium Smelters: An Observation and Recent Case Studies (2013-2017)</strong> has strike the right chord with the global aluminium industry players. From renowned aluminium smelters, consultancies, and research bodies to technical infrastructure providers- everyone is showing genuine interest in the report. Some of the biggest names in the industry have already even subscribed for it. </p> <p>With well-researched information and case studies spanning last five years’ time period, the report promises to provide deep insight into the aluminium potline failure issue that has been found to be having significant financial impact and hence, an area of prime concern for aluminium producers over...
<p>SHFE 1709 aluminium dropped RMB 150 /t after opening on Tuesday, and then recovered some losses before closing. Though there was enough buying and selling in the East China market, overall trading was slow. Traders were in a wait-and-see mode, while downstream producers bought the metal following the drop in price. Mainstream traded prices for SHFE 1709 aluminium ranged between RMB 16,060-16,070/t in Shanghai, RMB16,060-16,070 /t in Wuxi, and RMB16,070-16,090 /t in Hangzhou. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Aluminum-Ingot-hot-sell-ADC12-A360-A380.jpg" alt="News" width="517" height="226" /></p> <p>SMM expects August aluminium output in China to stand at 3.08 million tonnes in August, up 12.6%...
<p>Jiwanram Sheoduttrai (JS) Group, the multi-faceted organisation engaged in industrial marketing, manufacturingand turnkey project management and the trusted raw material and technology partner of aluminium businesses in India and abroad, recently celebrated the 100th birth anniversary of its key founding member, Late Satyanarain Prasad, in Kolkata.</p> <p>The Centennial Founder’s Day celebration held at Arts Acre, Museum of Bengal Modern Art, in New Town, Kolkata, on August 8, reached a different level of success in presence of 300 plus guests who came in from different parts of the world.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/JS1.jpg" alt="News" width="464" height="523" /></p> <p>As part of this...
<p>The upward momentum in LME aluminium prices is likely to slow down this week. The bullish sentiment that prevailed last week with investors flooding in the market is settling down. LME aluminium which had closed at US$2,104 per tonne last Friday, August 18, came down to US$2,084 per tonne on Monday, August 21. Shanghai Metals Market predicts that LME aluminium will stage technical corrections and hover at moderate highs this week.</p> <p>Reuters’ technical analysis suggests that LME aluminium may drop into the range of US$2,046-2,055 per tonne after facing correction. There is a resistance at US$2,089; a break above this mark could lead the light metal to a gain around US$2,103 per tonne. </p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>Building up of fresh positions amid improved demand scenario in the spot market led aluminium prices in India drive up by 1.33 per cent to INR 133.45 per kg in futures trade today, August 21.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/MCXaluminium_Aug21.jpg" alt="News" width="459" height="293" /></p> <p>Aluminium for September delivery climbed up by 1.33 per cent to INR 133.45 per kg in a total business turnover of 292 lots at Mumbai's Multi Commodity Exchange.</p> <p>Likewise, aluminium for delivery in August was found trading higher by INR 1.70 or 1.30 per cent to INR 132.75 per kg in a business turnover of 1,155 lots.</p> <p style="text-align: center;"><a...
<p>While SHFE aluminium is performing well in the Chinese market, aluminium stocks in China continues growing week on week as downstream producers are unwilling to buy at higher price.</p> <p>Stocks in China’s seven major markets grew further compared with a week ago, SMM statistics showed, with details in the table below:</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/china%20stock.jpg" alt="News" width="517" height="226" /></p> <p>SHFE 1709 aluminium has been performing well last week and on Monday it ended at RMB 16,380 /t before lunchtime. Growing aluminium prices have fuelled more activities in the market. Traders were active in south China aluminium market. Downstream producers showed low interest in...
<p>LME aluminium is on a solid upward trend. Drawing support from strong market fundamentals, the light metal climbed steadily to close at US$2,104.50 per tonne, up 11.5 per cent from US$1,887 per tonne at the beginning of this month.</p> <p>Reuters’ technical analysis suggests that LME aluminium may end its bounce from August 18’s low of US$2,057.50 per tonne around the current resistance level of US$2,103 and then again drop elow US$2,100 per tonne. </p> <p>According to Shanghai Metals Market forecast, LME aluminium will range at US$2,050-2,080 per tonne on Monday, August 21 after testing support at the 5-day moving average.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug21.png"...
<p>Ao Hong, president of Chalco, said on Friday, that the company’s primary aluminium production increased in the first six months of this year. He said that the increased production was due to capacity curtailments by private rivals, reported by Reuters.</p> <p>Chalco’s production increased by 250,000 tonnes in the first half of 2017. The outright production figure for the mentioned period has not been divulged by the company. Chalco’s smelting capacity is about 5 million tonnes per year</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chalco%20aluminium%2019%20August.jpg" alt="news" width="448" height="300" /></p> <p>The company will make further investments in H2 2017 to increase the...
<p style="text-align: left;" align="center">UC RUSAL has announced the investment of USD 23.7 million to launch a new calciner at the Irkutsk Aluminium Smelter.</p> <p style="text-align: center;" align="center"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Irkutsk%20Aluminium%20Smelter.jpg" alt="News" width="517" height="226" /></p> <p>Decision was taken in 2015 to upgrade calciner #2 at IrkAZ in order to supply calcined coke to the Sayanogorsk Aluminium Smelter to make pre-baked anodes. Production capacity of the calciner was 72 ktpa.</p> <p>RUSAL has calcination capacity in IrkAZ as well as the Bratsk and Krasnoyarsk Aluminium Smelters. BrAZ and KrAZ produced about 800 kt of calcined coke in 2016 fulfilling about 61% of the total demand of RUSAL's...
<p>According to an SMM report, traders in both East and South China markets actively sourced metals yesterday due to the rally in SHFE aluminium prices for two consecutive days. The price rise has fuelled their optimism which is expected to continue in the near term. </p> <p>A00 ingot prices in Guangdong traded within a range of RMB 16,280-16,300/tonne, versus RMB16, 200-16,240 /tonne in Shanghai. According to SMM statistics, average prices for A00 aluminium ingot in China stood at RMB 15,809/t in the week ending Aug 18 registering a growth of 2.25% fromlast week’s average.</p> <p>The movements in benchmark aluminium price at Shanghai Metal Exchange (SME) in August are shown in the graph below (Unit: US$/t):</p> <p style="text-align: center;"><img style="vertical-align:...
<p>On Thursday, August 17, Aluminum Corp of China Limited (Chalco) announced the results for the first half of 2017. The company’s profit jumped more than tenfold year-on-year in H1 2017.</p> <p style="text-align: left;"><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/chalco%2018th%20August.jpg" alt="news" width="448" height="300" /></p> <p style="text-align: left;">China’s leading producer of primary aluminium and alumina reported <strong>net income</strong> of 751.3 million yuan ($112.57 million) in the first six months of 2017, from 67.9 million yuan a year earlier.</p> <p>The company posted 91.3 billion yuan in <strong>revenue</strong> in the first half of this year, an increase of...
<p>LME aluminium continues its upward trend with another leap from US$2,075 per tonne on Wednesday August 16 to close at US$2,095.50 per tonne on Thursday, August 17. As reported by Reuters, LME aluminium may settle into a range of US$2,081- 2,089 per tonne as it has stabilized around a support at US$2,068/t. SMM predicts LME aluminium will range within US$2,055-2,075/t today and test support at the 5-day moving average. Traders are flooding into aluminium market on growing bullishness keeping prices high. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/lme18aug.png" alt="News" width="517" height="226" /></p> <p>As on August 17, LME official cash buyer aluminium price (Bid Price) stands at US$2,094.50 per...
<p>On Tuesday August 15, U.S. Senate Minority Leader Charles E. Schumer said that cheap aluminium and steel imports from China and other countries are impacting Alcoa and other domestic aluminium and steel companies.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Schumer.png" alt="News" width="517" height="226" /></p> <p>“There are top notch manufactures like Alcoa and Nucor ready to provide high-quality aluminum and steel to businesses in and around the country, but China’s overproduction has resulted in a substantial threat to Upstate New York’s metal industry by making it almost impossible for companies that play by the rules to compete,” said Sen.</p> <p>He has urged officials to put pressure...
<p>Press Metal Aluminium Holdings Bhd , the leading aluminium producer in Southeast Asia, announced its <strong>net profit</strong> increased 2.8 per cent to RM150.17 million in second quarter ended June 30, 2017 from RM146.07 million a year ago driven by higher revenue.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/press%20metal%2017TH%20August.jpg" alt="news" width="448" height="300" /></p> <p>The company’s <strong>revenue </strong>for the quarter ended June 30, 2017 jumped 31 per cent to RM2.08 billion from RM1.59 billion a year ago. The increase was mainly due to the additional production output generated by its Samalaju Phase 2 smelting plant and higher metal price, it said in a filing with Bursa...
<p>The uptrend in LME aluminium is continuing. The light metal shone bright sharing the sheen on other base metals and closed at US$2,075 per tonne on Wednesday, August 16, rising from its earlier close of US$2,056 per tonne on Tuesday, August 15. Shanghai Metals Market forecast says LME aluminium will keep hovering at highs of US$ 2,075-2,100 per tonne on Thursday, August 17.</p> <p>Reuters’ technical analysis suggests that LME aluminium may retest a resistance at US$2,103 per tonne in the near term, breaking above which may lead the metal contract to the next resistance level at US$2,125 per tonne. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug17.png" alt="News" width="517" height="279"...
<p>With the LME nearby spreads in backwardation during trading hours in London on Monday, August 14, the seller-buyer gap in Japan’s aluminium import market widened yesterday, reported market sources.</p> <p>August 15 was the deadline for declaring the shipping September cargoes and there were few buyers who were seeking spot supplies. Two international traders said they had information about a seller making offers at US$70-$75 per tonne CIF Japan. The seller could be a trading house with aluminium stocks.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/japanimport.jpg" alt="News" width="517" height="316" /></p> <p>Cash-August spread was US$4 per tonne in backwardation during Asian trading hours Tuesday, compared to...
<p>Oman's Sohar Aluminium yesterday announced that the company was assessing to resume the production as soon as possible after the interruption at its smelters, according to the news published by Reuters.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/sohar%20aluminium.jpg" alt="news" width="768" height="350" /></p> <p>On August 4, Sohar Aluminium informed about an accident at its plant in Sohar which interrupted normal operations and resulted in no injuries. The accident halted production for six-and-a-half hours. According to the company statement, the accident will have no long-term implications on the operations of Sohar Aluminium.</p> <p>Chief Executive Said Al Masoudi said in a...
