The most-traded SHFE aluminium contract did not trade during the night session of September 24 and the daytime session of September 25. On September 24, the daytime session opened at RMB 24,230 per tonne, reached a high of RMB 24,265 per tonne and a low of RMB 24,175 per tonne, and closed at RMB 24,200 per tonne, down RMB 30 per tonne or 0.12 per cent from the previous close. Futures consolidated at highs before pulling back, with prices falling below the 5-day moving average while remaining above the 20/40/60-period moving averages. Medium and long-term moving averages maintained an upward pattern. Trading volume during the session was 98,900 lots, and open interest stood at 281,000 lots, down 8,300 lots, driven mainly by bulls closing positions. On the technical front, a death cross...
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...
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<p>The fourth round of environmental inspections in China has started in 31 provinces and metal producers in the regions covered by the scan have been required to shut down for environmental reasons. Aluminium producers in many regions of Zhejiang have closed for environmental check.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/china%20pollution.jpg" alt="News" width="517" height="226" /></p> <p>An SMM report says environmental protection tax will take effect in China from January 1. Three departments have recently issued a notice recently regarding implementation of environmental protection tax.</p> <p>Though optimistic speculations over supply side reform and production cut policy on environmental checks have sent...
<p>LME aluminium after testing an upper-end support at US$2,046 per tonne surged to cross the US$2,050 per tonne mark and closed at US$2,056 per tonne on Tuesday, August 15. The light metal rose by 1.28 per cent from its earlier close at US$2,030 per tonne on August 14. According to Shanghai Metals Market forecast, LME aluminium will move widely in the near term. The contract will test support at the five-day moving average and range at US$2,035-2,055 per tonne on Wednesday, August 15.</p> <p>Reuters’ technical analysis suggests that aluminium prices at LME may rise up to levels last seen in September 2014 if they manage to break above US$2,078.75 per tonne. </p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>LME aluminium gave up some its recent gains and dipped slightly as the dollar bounced back and the market started digesting the news of Chinese aluminium capacity cuts. The light metal closed at US$2,030 per tonne on Monday, August 14, down from its earlier close of US$2,040.50 per tonne last Friday, August 11.</p> <p>According to Shanghai Metals Market forecast, LME aluminium will move around the five-day moving average and range at US$2,015-2,035 per tonne on Tuesday, August 15.</p> <p>Reuters’ technical analysis suggests that LME aluminium may retest a support at US$2,021 per tonne, as it temporarily peaked around the top-end resistance at US$2,046 per tonne.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>RUSAL, the leading global aluminium producer has announced the commissioning of a complex of furnaces for the hardening of wire rods at the Kandalaksha Aluminium Smelter for pilot production. The total level of investment into the project was USD 5.6 mln.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusalsmelter.jpg" alt="News" width="517" height="226" /></p> <p>The project, launched in March 2016, will enable the production of 6800 tonnes of wire rods from the 6101-T4 alloy per year, whilst also expanding the client base and increasing the competitiveness of RUSAL’s products. Consumers of the KAZ hardened wire rods are both domestic and foreign manufacturers of cable products.</p> <p>The new complex is...
<p>LME aluminium prices are on a solid upward track. Although technical analysis by major global research firms indicate at a possible correction which might result in trend reversal, the higher prices, as of now, are turning out to be real boon for the Indian aluminium producers. Vedanta is expected to post a whopping 162 per cent increase in its Q1 profit; Hindalco’s standalone profit increased 28 per cent; and Nalco’s production was up by 6.5 per cent year-over-year.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Indiaaluminium_Aug14.jpg" alt="News" width="517" height="219" /></p> <p>Higher metal prices signify improved realization. Even though cost plays critical in deciding a company’s...
<p>The world’s largest aluminium producer China Hongqiao confirmed Monday, August 14 that it had closed 2.68 million tonnes of smelting capacity after Shandong Government ordered it to do so in an attempt to curb illegal capacity.</p> <p>The aluminium capacity closed by Hongqiao was spread over five projects. Neither Hongqiao nor any of its subsidiaries was charged a penalty by the authorities, Shandong Weiqiao Aluminum & Electricity said in a disclosure made to the Shenzhen Stock Exchange.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chinahingqiao.jpg" alt="News" width="517" height="365" /></p> <p>Shandong Hongqiao is the sole shareholder of Shandong Weiqiao, and all the capacities closed are the newly added...
<p>LME aluminium is trending high. With the Chinese supply-side scenario looking a bit precarious and the US dollar turning broadly lower against major currencies on Friday, August 11, the light metal is expected to climb higher. LME aluminium rose from its earlier close of US$2,024 per tonne on August 10, to settle at US$2,040 per tonne on Friday, August 11.</p> <p>According to Shanghai Metals Market forecast, LME aluminium will move at highs of US$2,035-2,050 per tonne Monday, August 14.</p> <p>Reuters’ technical analysis suggests that aluminium prices at the LME may consolidate in a narrow range of US$2,021-2,046 per tonne over the near term before reversing the trend once again.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, has shipped around 5,000 tonnes of spent pot lining, a by-product from its industrial process, to Befesa, a company in the United Kingdom that specialises in waste management and recycling.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/SPL%20export%20to%20Befasa%20UK%202.jpg" alt="News" width="517" height="226" /></p> <p>Befesa will treat and recycle the spent pot lining to create useful raw materials for the cement, fibreglass and ceramics industries. Spent pot lining is the worn out inner lining of aluminium smelting pots. The lining is typically replaced every four to five years.</p> <p>The global...
<p>According to a report from The Australian, US-based Century Aluminium and Glencore are eying Rio Tinto’s Pacific Aluminium business, which is up for sale through Deutsche Bank at an estimated cost of $US1 billion ($1.3bn).</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/tomago.jpg" alt="News" width="517" height="226" /></p> <p>The Pacific division owns the Bell Bay Aluminium smelter in Tasmania and Boyne smelter 20km south of Gladstone on the central Queensland coast in Australia. It also owns the Tomago Aluminium smelter and a majority stake in the New Zealand’s Tiwai Point aluminium smelter in Southland. Century Aluminium has primary aluminium facilities in the US and Iceland and has been running under...
<p>As China squeezes 10% of its aluminium production and as a result, the LME aluminium prices have jumped to a three-year high, Press Metal Aluminium Holdings Bhd (PMETAL) is poised to leverage on the benefits. Analysts have conservatively increased the company’s estimated financial year 2018 (FY18E) aluminium price to US$1,900 (RM8,151) per tonne. This will lift the estimated earning in FY18 up to 7% from 0% in FY17.</p> <p><img style="display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/press%20metal%201.JPG" alt="" width="400" height="300" />Recently, Bloomberg reported that China “called for the closure of 3.21 million tonnes of illegal aluminium capacity by end-July” in Shandong on July 24, higher than...
<p>Hindalco Industries Ltd., India's leading producer of aluminium and copper and a subsidiary of the Aditya Birla Group, released its standalone unaudited financial results for the quarter ended 30th June, 2017. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/HINDALCO.jpg" alt="news" width="410" height="300" /></p> <p>The company’ <strong>revenue</strong> during the quarter stood at INR 10,407 crore, up 28 per cent compared to Q1 FY2017 driven by higher volumes and realisation. <strong>EBITDA</strong> (Earnings before Interest, Tax, Depreciation and Amortisation) was INR1,404 crore, an increase of 4 per cent compared to Q1 FY2017 on account of higher aluminium and copper...
<p>The International Committee for Study of Bauxite, Alumina & Aluminium (ICSOBA; www.icsoba.org) unites the aluminium industry professionals and offers forum to promote collaboration and exchange of ideas among its members and results of work from different fields of research and practice related to bauxite exploration & mining, and alumina and aluminium production. Beyond this objective, ICSOBA is striving towards its vision to be The Technology Conference of the Aluminium Companies, for the Aluminium Companies.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/ICSOBA.png" alt="News" width="517" height="226" /></p> <p>At present, ICSOBA is in the process of organizing the 35th International Conference and...
<p>China Aluminum International Trading Co. (Chalco Trading) has further cut aluminium prices it offered in China’s major markets today.</p> <p>Unit: RMB/tonne</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Chalco%20price%20on%2011th%20August.png" alt="news" width="433" height="208" /></p> <p>Aluminium stocks in five major markets continued growing this week to new record highs, including SHFE aluminium stocks. Stocks in these five regions: Shanghai (275,000 tonnes), Wuxi (589,000 tonnes), Nanhai (325,000 tonnes), Hangzhou (90,000 tonnes) and Gongyi (94,000 tonnes) - totalled 1.37 million tonnes as on August 10, up 39,000 tonnes from a week ago, SMM data showed. </p> <p><a...
<p>Finally, the most awaited turnaround in the aluminium market seems to have arrived! LME aluminium which hit the highs after more than two-and-a-half-years has crossed the US$2,000 per tonne mark on Wednesday, August 9, at US$2,018 per tonne and climbed further up to close at US$2,024 per tonne on Thursday August 10. With positive market sentiments flooding and investors thronging the market, the LME aluminium prices are expected to stay highs in the near term. LME base metals outperformed SHFE base metals yesterday.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/lme11aug.png" alt="News" width="517" height="226" /></p> <p>According to Shanghai Metals Market forecast, LME aluminium will trade at US$2,025-2,045 per...
<p>The charge in SHFE aluminium prices have caused a dramatic drop in aluminium billet processing fees (including tax, self-pickup) in Guangdong recently and are even offered flat with or lower than aluminium ingot prices.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/billets.jpg" alt="News" width="517" height="226" /></p> <p>According to SMM, the drop has been attributed to a chain of developments. Due to rise in SHFE aluminium, aluminium billet prices have currently increased in all the markets which are not acceptable to aluminium buyers. Secondly, according to recent statistics, aluminium billet stocks at public and private warehouses in Guangdong have exceeded 200,000 tonnes due to slow demand. Because of the...
<p>AlCircle, the Virtual Aluminium Ecosystem, has just published an exclusive report titled <strong>“Potline Failure in Aluminium Smelters: Observations and Recent Case Studies (2013-2017).”</strong> The study which looks into major case studies spanning last five years across the global aluminium industry finds in power outage the single biggest cause behind plotline failure in aluminium smelters.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/PotlineAug9.jpg" alt="News" width="419" height="553" /></p> <p>Potline failures in aluminium smelters have significant financial impact. They reduce the potlife up to varying extent thereby lowering the productivity of the smelter for a proportionate duration of time....
<p>Despite massive production cuts in July, China still has surplus aluminium in the market due to poor domestic consumption. SMM feels the oversupply will persist and aluminium stocks will continue growing in the long term due to new capacity that would be coming online in future.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chalco%20aluminium.jpg" alt="News" width="980" height="551" /></p> <p>China Aluminum International Trading Co. (Chalco Trading) has cut aluminium prices it offered across major markets today after hiking prices for three consecutive days. </p> <p>According to a statement filed by Chalco to the Shanghai Stock Exchange, aluminium market is facing uncertainties because of two factors. On the one...
<p>The uptrend in LME aluminium is finally on solid tracks. The light metal which hit the highs after more than two-and-a-half-years crossed the US$2,000 per tonne barrier to close at US$2,018 per tonne on Wednesday, August 9, rising from the earlier close of US$1,981 per tonne on August 8. With investors flooding the world market on the prospects of wide-scale capacity closures by the biggest aluminium producing region, China, the aluminium prices are expected to hover at highs in the foreseeable future.</p> <p>According to Shanghai Metals Market forecast, LME aluminium will trade at US$2,005-2,035 per tonne on Thursday, August 10.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug10.png" alt="News" width="517"...
