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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China Aluminum International Trading Co. (Chalco Trading) raised aluminium prices in major markets today after yesterday’s deep cut, it said on its WeChat. For details, please see the table below: Unit: yuan/tonne Note: Chalco Trading is a full subsidiary under Chalco responsible for alumina and aluminum sales.
Momentum is holding above 0, suggesting the uptrend remains in place. ADX is above 20, suggesting the trend is strong. Analysis • Aluminium continues higher after finding strong support at its key daily moving averages in June. While it has solid positive momentum, we believe a fresh 2016 high is possible in July. • On the upside, aluminium’s next challenge is to take out its the 2016 high to maintain the upward trend. On the downside, a clear break below the 20 DMA could reflect a negative in swing in sentiment, which in turn would lead to further downside toward the 100 DMA, its UTL and its 2015 low. Macro drivers Aluminium is more volatile but is unchanged since Monday after rising for a fourth straight week last week. The recent consolidation across base metals may stem from resurgent...
SHFE 1609 aluminium should grow to RMB 12,500-12,700/mt today with positive technical indicators. Eyes will be on US June ADP employment data due for release tonight. LME aluminium will move at USD 1,640-1,660/mt. In China’s spot aluminium market, spot premiums of RMB 40-80/mt are expected over SHFE 1607 aluminium contract. Key macroeconomic indicators for base metal prices Base metals mostly closed with gains overnight. Market expectations toward easy monetary measures worldwide will support base metals prices, but fundamentals are still weak. ADP’s June employment data in June are expected to fall, but US job market will likely pick up in June. The numbers of initial jobless claims in June remained low. Markit’s manufacturing PMI job sub-indice in June hit 52.3, the highest since...
Century Aluminum Company announced today that it has renegotiated a market-based agreement with a third-party supplier to provide approximately 75 per cent of the power requirements for the Mt. Holly, South Carolina smelter. The remaining 25 per cent of Mt. Holly's power requirement will continue to be supplied by Santee Cooper. The new market-based power agreement will allow Mt. Holly to continue to operate at half capacity while it seeks a competitive long-term arrangement. "We are proud of the team at Mt. Holly, who have operated the plant safely and efficiently during these highly uncertain times," commented Michael Bless, Century's President and CEO. "We have regrettably not been able to achieve an agreement for full market power access; such a structure is required for Mt. Holly's...
Aluminium net shipments (including exports) by domestic U.S. and Canadian facilities totalled an estimated 1,967 million pounds during May, up 2.4 per cent over the May 2015 total of 1,922 million pounds. Shipments of aluminium mill products decreased six-tenths of one percent from the previous year to 1,315 million pounds, while shipments of aluminium ingot for castings, exports and destructive uses increased 8.8 per cent year-over-year, totalling 652 million pounds. Preliminary producer shipments through May 2016 totalled 9,855 million pounds, up 2.7 per cent over the same period last year. May inventory levels totalled an estimated 2,832 million pounds, down 1.3 per cent from the previous month and down 6.5 per cent year-over-year.
SHFE 1609 aluminium almost lost support at the 5-day moving average as shorts took the upper hand. The contract should move at RMB 12,300-12,500/mt today, hovering around the 5-day and 10-day moving averages. LME aluminium has found strong support and will move at USD 1,640-1,660/mt. In China’s spot aluminium market, spot premiums of RMB 20-60/mt are expected over SHFE 1607 aluminium contract.
Japanese aluminium buyers have agreed to pay producers a premium of $90 to $93 per tonne for metal imported in the July-September quarter, six sources directly involved in the quarterly pricing talks said. The deals, which mark a 19 to 23 percent fall from premiums of $115 to 117 per tonne (PREM-ALUM-JP) in the previous quarter, are the first decline since the October-December quarter of 2015, and are in line with a slide in overseas surcharges for physical aluminium. Japan is Asia's biggest importer of aluminium 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 government of Shandong, among China’s top three aluminium producing regions, recently released a document that will offer financial support to real economy. According to the document, financial institutions are encouraged to offer timely and strong support to technical upgrade projects in traditional industries, including aluminium, steel, cement, etc. Besides, financial institutions are also guided to adopt various measures such as relending, extended loans and asset swap to help companies in traditional industries that have strong orders, famous brand, good profit, who face temporary cash tightness. Aluminium capacity in Shandong takes up 22.5 per cent of China’s total capacity. The latest move will help local aluminium smelters by reducing their financing costs and difficulties,...
The Ministry of Mines, India, is expected to consider pushing for a hike in the customs duty on primary aluminium products to provide relief to an industry suffering from low prices and underutilised manufacturing capacity. "We have asked the industry to make a representation to push their case before we take up the matter with the concerned departments of the government. The aluminium manufacturers are expected to meet me within a week," said Balvinder Kumar, Secretary, Ministry of Mines on the sidelines of the National Conclave on Mines & Minerals in Raipur, Chhattisgarh. In Budget 2016-17, the government had raised customs duty on primary aluminium products to 7.5 per cent from 5 per cent earlier. However, the industry-wide capacity utilisation remains low at around 50 per cent. Prices...
Vedanta Limited, a globally diversified natural resources company, has been ranked as India's leading publicly listed company in the India Disclosure Index 2016 report by FTI Consulting. Vedanta achieved full scores on all parameters that were studied across the Mandatory Disclosure, Voluntary Disclosure and Composite Disclosure categories, making it the leader of India's top 200 companies. Vedanta is the only company in the natural resources sector to achieve the highest possible score across all parameters. Vedanta stands among 8 leading BSE 100 companies that attained the maximum composite disclosure score of 10. The results are testament to Vedanta's commitment to transparency and adherence to global best practice in corporate governance. Mr. Tom Albanese, CEO, Vedanta, commented:...
SMM surveyed 37 Chinese aluminium smelters about their opinions over aluminium price outlook. About 36 per cent of them expect SHFE 1609 aluminium to hold firm above RMB 12,600/mt and LME aluminium return above USD 1,665/mt, citing several factors. First, Chinese yuan’s big depreciation following Brexit vote allowed domestic metals to rise significantly, with nickel and silver once hitting daily upside limits. Bullish sentiment will allow SHFE aluminium to rise further. Second, manufacturing PMIs for June from the UK, Germany and France were positive. Third, worker strike threat in Norway and crisis in Venezuela will favour crude oil prices. Fourth, the US dollar index will face further downward corrections. Another 36 per cent expect SHFE 1609 aluminium to fluctuate at RMB...
Aluminium Bahrain B.S.C. (Alba), the leading global Aluminium producer, with an award-winning record in maintaining the best safety standards, finished the first half of 2016 by attaining its 4 Million Plant-wide Hours without Lost Time Injuries (LTIs) on Wednesday, June 29th 2016. This achievement comes in line with “Ramadan Safety Challenge” and in line with the CEO's expectations for 2016 where departments are tasked with the objective of completing the holy month of Ramadan without any cases of Lost Time Injuries (LTIs), Heat Stress related-injuries or accidents while meeting the production targets. Many awareness sessions and safety visits were conducted by Alba Management team in the presence of Alba Labour Union and Alba Trade Union members with special emphasis on healthy eating...
China Aluminum International Trading Co. (Chalco Trading) cut aluminium prices in major markets markedly today after three consecutive days of hike, it said on its WeChat. Unit: yuan/tonne Note: Chalco Trading is a full subsidiary under Chalco responsible for alumina and aluminium sales.
Market will eye US May durable goods orders today. Crude oil prices will meet pressure from recovering supply. LME aluminium will test support at the 5-day moving average and move at USD 1,635-1,655/mt. SHFE 1609 aluminium will move at RMB 12,300-12,500/mt on Monday. In China’s spot aluminium market, spot premiums of RMB 60-100/mt are expected over SHFE 1607 aluminium contract. Key Macroeconomic Indicators for Base Metal Prices Eurozone retail sales and US factory and durable goods orders in May will be released today. Base metals should diverge today. Should Caixin’s service PMI in May weaken, market expectations that Chinese economy will slide further will grow, and will in turn weigh down base metals. Eurozone retail sales in May will likely improve, as Germany’s monthly and annualized...
Goa Carbon has reported production of 15,059.100 MT (million tonnes) of Calcined Petroleum Coke for the month of June 2016. Of the total production achieved for the month, Bilaspur plant produced 1,834.000 MT of Calcined Petroleum Coke, Goa plant produced 2,519.100 MT of Calcined Petroleum Coke while Pradeep plant has produced 10,706.000 MT of Calcined Petroleum Coke. On the sales front, the company has sold a total of 13,988.570 MT of Calcined Petroleum Coke products for the month of June 2016. Of the total sales achieved for the month, Bilaspur plant, Goa plant and Paradeep plant of the company sold 1,614.700 MT; 4,409.820 MT and 7,964.050 MT respectively. Goa Carbon is into the business of manufacturing and marketing Calcined Petroleum Coke. Goa Carbon is firmly established as a...
Alcoa plans to announce its second quarter 2016 financial results on Monday, July 11 after the market closes. The press release will be available on the Investor section of Alcoa's website, and a link to the press release will also be available on Alcoa's twitter handle. A conference call to discuss the quarterly results and business developments will be held on Monday, July 11 beginning at 5:00 p.m. EDT. The conference call will be webcast live via Alcoa's website, with presentation materials available concurrently with the press release. Analysts are expecting a decent quarter of results starting with Alcoa on July 11th. Unless the clash with Alumina has an impact on the results, Alcoa is expected to report a positive result for the second quarter.
SHFE 1609 aluminum will meet strong resistance and move at RMB 12,550-12,800/mt on Monday. Positive June manufacturing PMIs from major economies will push LME aluminum up to USD 1,650-1,675/mt. In China’s spot aluminum market, spot premiums of RMB 0-40/mt are expected over SHFE 1607 aluminum contract.
The MCX-Aluminium future continued to trade within the INR97-INR112 range for the sixth consecutive month. It is currently poised near INR112; the upper end of the range. If the contract reverses lower from here, it can then fall to INR105 and INR103 in the coming weeks. On the other hand, a strong break above INR112 can take the contract higher to INR115, which is a key long-term resistance. A strong break and a decisive weekly close above INR115 will reduce the possibility of a fresh fall . Such a break can take the contract higher to INR120 or even INR125 over the medium term. But, inability to break above INR115 can drag the contract lower to INR112. If the contract manages to sustain above INR112, a sideways move between INR112 and INR115 is possible for some time. But a strong break...
