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>Aluminium export by the U.S., both alloyed and non-alloyed varieties, fell considerably in the first half of 2017. According to the data released by the U.S. Department of Commerce, the once formidable primary aluminium producing country exported 6,888.372 tonnes of aluminium in June 2017, down from 7,302.04 tonnes in the previous month.</p> <p>{newsStudioGallery}</p> <p>Going by the global export-import data, the U.S. exported 82476 tonnes of aluminium during the initial six months of 2017. This is significantly less than 1,31,656.5 tonnes of aluminium exported in H1 2016.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chart-9-08-Tonnes.png" alt="News" width="517" height="319" /></p> <p>It is estimated that the U.S....
<p>National Aluminium Company's (NALCO) first quarter earnings are expected to be strong on volume growth. Profit is seen rising 23 percent year-on-year to INR 166 crore and revenue may increase 31.8 per cent to INR 2,042 crore in the quarter ended June 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/NalcoAug9.jpg" alt="News" width="517" height="387" /></p> <p>Operating profit is expected to surge 56.9 percent to INR 306 crore and margin may expand 240 basis points to 15 per cent compared to same quarter last year, according to average of estimates of analysts polled by CNBC-TV18.</p> <p>Analysts expect alumina volumes at 3.3 lakh tonnes (a growth of 14 per cent YoY but fall 18 per cent QoQ) and aluminium volumes at...
<p>Aluminium ingot prices in China major markets rose consistently at a moderate pace in July this year but slowed down towards the month end, revealed National Bureau of Statistics (NBS) data. The prices of aluminium ingots in late July were RMB 14,244.60 per tonne, up RMB 120.8 per tonne (0.9 per cent) from mid-July.</p> <p>The average price trend for A00 aluminium ingot (as on July 31) across five major regions in China is depicted in the below graph:</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/SMMingotpricesAug9.png" alt="News" width="517" height="232" /></p> <p>China Aluminum International Trading Co. (Chalco Trading) has been rising aluminium prices it offered across major markets for the last three consecutive...
<p>Taking the cue from the Chinese Weiqiao Group’s rumoured announcement of higher than expected capacity cuts, LME aluminium surged above US$2,000 per tonne on Tuesday, August 8. The rise marked two-and-a-half year peak for the light metal which ended the trading day at US$1,981 per tonne yesterday after hitting US$2,030 per tonne. Its earlier close was at US$1,920 per tonne on Monday, August 7.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug9.png" alt="News" width="517" height="279" /></p> <p>News has it that Shandong province in China has ordered 3.21 million tonnes of smelting capacity to be shut, as Beijing ups the ante for its pollution control activities for every industry.</p> <p>According to...
<p>According to an SMM, Shandong 2017 Coal Consumption Reduction Work Action Program was issued by the Shandong Development & Reform Commission which states that the Weiqiao Pioneering Group and Xinfa Group were ordered to cut illegal aluminium capacity.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminium%208%20august.jpg" alt="news" width="448" height="300" /></p> <p>Weiqiao Pioneering Group was ordered to close 2.68 million tonnes of illegal aluminium capacity while Xinfa Group was ordered to shut down 530,000 tonnes of illegal aluminium capacity before the end of July 2017.</p> <p>Also,these two companies were required to close coal-fired power generating units built in support of...
<p>SMM statistics showed that China’s aluminium production had a sharp rise in July compared with a year ago. China produced 3.12 million tonnes of aluminium in July, up 16.5% YoY, and 21.42 million tonnes of aluminium during the first seven months of this year, up 20.9% from the same period of 2016. Total annual operational aluminium capacity nationwide stood at 36.74 million tonnes in July, down 872,000 tonnes from June. </p> <p>In china’s domestic market, aluminium led the gains in all base metals on Monday’s night trading at SHFE. SHFE 1710 aluminium is expected to rise to RMB 15,350-15,530/t on August 8. Despite the continuous rise in domestic aluminium stock, China Aluminum International Trading Co. (Chalco Trading) hiked aluminium prices it offered...
<p>LME aluminium took a cue from the recent China aluminium capacity cut announcement s and surged to US$1,920 per tonne on Monday, August 7. The rise of nearly 1.6 per cent from the contract’s earlier close of US$1,890 per tonne on Friday, July 4, can be partially attributed to the somewhat weak US dollar index.</p> <p>Reuters’ technical analysis suggests that LME aluminium may test a resistance at US$1,988 per tonne, and stands a good chance of breaking above this level rising into a range of US$1,996-US$2,010 per tonne in the short term.</p> <p>According to Shanghai Metals Market forecast, LME aluminium which has entered a new trading range now is likely to hover at highs of US$,960-1,980 per tonne on Tuesday, August 8.</p> <p style="text-align: center;"><img...
<p>According to the recently published Bahrain Economic Quarterly, by the Bahrain Economic Development Board (EDB), growth in the non-oil sector of Bahrain’s economy reached 4.4% in Q1 2017, up from 3.7% during the same period of 2016.</p> <p>This growth was primarily driven by strong performance across the non-oil private sector. The Kingdom is experiencing large amount of investment in infrastructure projects which is supporting the growth momentum in Bahrain’s non-oil economy. Overall, in the first quarter of 2017 the Bahraini economy expanded by 2.9%.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/alba%20smelter.jpg" alt="News" width="640" height="445" /></p> <p>One of such projects is the US$ 3...
<p>China Aluminum International Trading Co. (Chalco Trading) has increased aluminium prices it offered in China’s major markets today by more than 300 RMB/tonne.</p> <p>Unit: RMB/tonne</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Chalco%207th%20august.png" alt="news" width="436" height="213" /></p> <p>Also, SHFE aluminium prices surged today following release of Program for Off-Peak Production during Winter Heating Season in Hebei Province. </p> <p>Currently, there are no alumina refineries and aluminium smelters in operation in Hebei Province, and hence the alumina and aluminium production was not affected, SMM reports.</p> <p></p> <p>China’s aluminium smelters have registered a rise in profit driven...
<p>LME aluminium is yet to start gaining strength. The light metal which closed at US$1,892 per tonne last Thursday, August 3, dipped further down to US$1,890 per tonne after night trading on Friday, August 4. According to Shanghai Metals Market forecast, LME aluminium should continue to struggle around the moving average and range at US$1,900-1,918 per tonne on Monday, August 7.</p> <p>Reuters’ technical analysis suggests that LME aluminium may test a resistance at US$1,938 per tonne in the short term. A break above this level may lead to a gain to the next resistance at US$,948 per tonne.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug7.jpg" alt="News" width="517" height="248" /></p> <p>As on August 4,...
<p>In order to improve transparency and increase the amount of metal registered under LME warrant, The London Metal Exchange has urged its network of metal warehouse owners to cut the rents charged for storage of metal.</p> <p>Rents for aluminium on warrant currently stands at about around 54 U.S cents a tonne, of which the exchange earns 1.1%. Storage rent for metal not under LME warrant is 10 cents or less than that.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LME_entrance_sign.jpg" alt="News" width="517" height="226" /></p> <p>Commenting on the request, an LME spokesperson said: </p> <p>"The LME has initiated a discussion with the warehouse community to find a solution to collectively cut the relatively high...
<p>In an investor presentation on Wednesday, Century Aluminum’s president and CEO Michael Bless said that his firm plans reopening the 100 thousand tpy of idled aluminium smelting capacity in the United States soon. He however added that the reopening depends on the availability of cheaper power for the Mt. Holly smelter. This was in response to investor’s questions regarding the future of the idled potline at Mt. Holly and Hawesville plant.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/wcbd-centuryaluminum%20(1).jpeg" alt="News" width="517" height="226" /></p> <p>Regarding Mt. Holly, Bless said a restart would happen “as soon as we can get the last 25% of that power from the...
<p>Amidst uncertainties about aluminium capacity cut in China, The government has issued a suggestion that construction of new coal-fired captive power plants will be banned in cities like Beijing, Tianjin, Hebei, Yangtze River Delta and Pearl River Delta. The document also directed that coal-fired captive power plants must comply with national energy-saving and emission discharge standards. On this news, SHFE aluminium prices jumped to RMB 14,850/mt on Friday after opening at RMB 14,690/mt. SHFE 1710 aluminium plunged later, closing at RMB 14,765/mt. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminium.jpg" alt="News" width="517" height="226" /></p> <p>On this development, aluminium smelters in east China...
<p>Aluminium futures traded on India’s Multi Commodity Exchange eased by 0.08 per cent to INR 122.20 per kilogram on Friday, August 4. Market participants cut down their bets based on speculations amid weak demand in the spot market</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/MCXaluminium_Aug5.jpg" alt="News" width="517" height="371" /></p> <p>MCX aluminium for delivery in September 2017 fell by 10 paise or 0.08 per cent to INR 122.20 per kg, in a total business turnover of three lots.</p> <p>MCX aluminium for delivery in August followed the downtrend and dropped by 0.04 per cent to INR 121.50 per kg in business turnover of 126 lots.</p> <p style="text-align: center;"><a title="AlCircle Report"...
<p>Discouraging all efforts towards capacity cut, aluminium stocks in China are continuously rising in July and August. SMM statistics showed that aluminium stocks in five major markets, including SHFE aluminium stocks have touched fresh record highs recently.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminum%20overcapacity.jpg" alt="News" width="517" height="226" /></p> <p>As of August 3, stocks in Shanghai stands at 275,000 tonnes, Wuxi at 566,000 tonnes, Gongyi at 95,000 tonnes, Hangzhou at 88,000 tonnes and Nanhai at 310,000 tonnes. All these five markets put together, the current aluminium stock stands at 1.33 million tonnes, up 51,000 tonnes from a week ago. </p> <p>SHFE Aluminium...
<p>The demand for “green” aluminium is on the rise. Global automotive, electronics, and packaging industry players who are fiercely competing to occupy a piece of mind-space of today’s environment-conscious consumers while getting a quick go-ahead from the regulators and investors are increasingly leaning towards low-carbon aluminium. Cashing on the demand, aluminium producers running hydro-powered or gas-fired smelters are charging a premium for their end product- low-carbon or “green” aluminium.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Hydroaluminium.jpg" alt="News" width="517" height="344" /></p> <p>The change of the consumer preference towards low-carbon aluminium has long been...
<p>LME aluminium is finding it difficult to hold ground above US$1,900 per tonne. The light metal which edged higher to US$1,904 per tonne on August 2, from its earlier close of US$1,887 per tonne on August 1, has again slid back to US$1,892 per tonne after night trading on Thursday, August 3. Reuters’ technical analysis suggests that LME aluminium is biased to break a support at US$1,909 per tonne, and fall towards the next support at US$1,896 per tonne.</p> <p>According to Shanghai Metals Market forecast, LME aluminium should continue to struggle around the moving average and range at US$1,910-1,922 per tonne on Friday, August 4.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug4.jpg" alt="News"...
<p>Century Aluminum Company reported a net income of $7.1 million for Q2 2017 in comparison to a net loss of $15.1 million for Q1 2017. Results were driven by a $6.1 million unrealized gain relating to LME forward sales. Adjusted net income for Q2 was $0.8 million compared to an adjusted net loss of $5.0 million for Q1 2017. The positive results were a reflection of improved aluminium prices and positive market sentiments in the U.S. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/century4.jpg" alt="News" width="517" height="226" /></p> <p>The adjusted net income was $0.8 million compared to an adjusted net loss of $5.0 million Q1 2017. Century also reported adjusted EBITDA of $34.0 million, up $11.8...
