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>LME aluminium is gaining in momentum. The light metal, as expected, climbed up to US$1,923 per tonne on Thursday, July 27, from its earlier close of US$1,923 per tonne. However, the uptrend is going to slow down in the short term as the metal contract faces strong resistance above US$1,950 per tonne.</p> <p>Reuters’ technical analysis suggests that LME aluminium will stay neutral in the range of US$1,928-1,939 per tonne, and any movement beyond this range could indicate at a direction.</p> <p>According to Shanghai Metals Market forecast, LME aluminium will fall back in the range of US$1,930-US$1,950 per tonne on Friday, July 28.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJulu28.png" alt="News"...
<p>Japan's aluminium industry is worried that any U.S. trade action to block imports of the metal may result in surplus supply elsewhere and prompt a chain-reaction of retaliation by other nations, the head of a trade body said on Wednesday.</p> <p>U.S. President Donald Trump's administration is determined to curb imports of aluminium, along with steel. In April, it initiated a "Section 232" review of the aluminium industry using a 1962 law that allows the imposition of tariffs or quotas on imports if national security is threatened.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Japan.jpg" alt="News" width="517" height="295" /></p> <p>Results of the review are still pending, but the move has been widely criticized by...
<p>LME aluminium is on a moderate uptrend. With the dollar index hovering near the lowest since June 2016 following the Fed’s decision not to hike interest rate, the light metal is expected to gain in the short term. After night trading on Wednesday, July 26, LME aluminium closed at US$1,912 per tonne, up from the earlier close of US$1,896 per tonne on Tuesday, July 25.</p> <p>Reuters’ technical analysis suggests that LME aluminium may retest a resistance at US$1,962 per tonne. There is a support at US$1,928 per tonne, a break below which could lead to a loss in the range of US$1,903-US$1,917 per tonne.</p> <p>According to Shanghai Metals Market forecast, LME aluminium will rise to US$1,930-US$1,963 per tonne on Thursday, July 27.</p> <p style="text-align: center;"><img...
<p>China’s Ministry of Environmental Protection has hinted that they will launch environmental protection inspections across the regions in China this year, according to news reported by Beijing News and published by Shanghai Metals Market.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/air%20pollution%20china.jpg" alt="news" width="448" height="300" /></p> <p>The government will launch environmental inspections in eight provinces which include Shandong, Sichuan, Zhejiang, Jilin, Xinjiang, Tibet, Hainan and Qinghai. Ministry of Environmental Protection has not yet announced the date.</p> <p>The provincial government has already started preparatory works. They expect the inspection to...
<p>Vedanta Resources releases production report across all its business for the First Quarter ended 30 June 2017. Aluminium production remains flat quarter on quarter due to previously announced power outage at Jharsuguda-I. The company reports an exit production run-rate of 1.4mtpa. Production ramp up continues at Jharsuguda.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/vedanta%20Q1.jpg" alt="News" width="595" height="298" /></p> <p><em>* Jharsuguda 1,800MW and Balco 270 MW power plants have been moved from the Power to the Aluminium segment from 1<sup>st</sup> April 2016. </em></p> <p>The alumina production in the Lanjigarh refinery increased 10% YoY to 303,000 tonnes in Q1 FY2018, but drops 3% QoQ.</p>...
<p>The diversified natural resources company with aluminium operations in India, Vedanta Limited reported improved bottomline for Q1 FY 2017-18. The company’s Aluminium business registered strong exit production run rate of 1.4 million tonnes per annum from continued ramp-up. The increased production along with the volumes generated by Zinc, Oil and Gas helped drive Vedanta’s net earnings by more than 50 per cent and EBITDA by 40 per cent year-on-year.</p> <p>The net profit (PAT) and EBITDA for the mining and metals giant stood at INR 1,525 crore and INR 4,965 crore respectively for the quarter ended June 30, 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/vedanta.jpg" alt="news" width="448" height="300"...
<p>Closures of illegal aluminium capacity in China in July is keeping the alumina prices in check as it may add nearly 170,000 tonnes of alumina to spot market per month in the short term.</p> <p>However, prices for prebaked anode, another raw material in aluminium smelting, set to continue rising next month adding to aluminium costs. According to SMM estimate, rise in prebaked anode price will be driven by rising prices of petroleum coke, which would be passed to prebaked anode prices in August. </p> <p>Currently, the raw material prices in China remain flat across all markets as shown in the below figure:</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/raw%20material%20china.png" alt="News" width="742"...
<p>LME aluminium edged higher boosted by the gain in crude oil prices. The light metal, which is still trading below US$1,900 per tonne, closed higher at US$1,896.50 per tonne on Tuesday, July 25, up from its earlier close of US$1,890 per tonne. However, the gain is unlikely to sustain over the long term, as LME aluminium will face a downward correction, observes Shanghai Metals Market.</p> <p>The research and media firm predicts that LME aluminium will move higher at US$1,930-1,950 per tonne on Wednesday, July 26.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJuly26.png" alt="News" width="517" height="275" /></p> <p>As on July 25, LME official cash buyer aluminium price (Bid Price) stands at US$1,889.50 per...
<p>Aluminium Bahrain B.S.C (Alba) presents its financial results for Q2 & H1 2017 with substantial increase in net income. Alba’s top-line and bottom-line performances for Q2 and H1 2017 were primarily driven by higher LME aluminium prices and excellent management performance.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/alba1.jpg" alt="News" width="517" height="226" /></p> <p>The Company reported a total sale of US$ 476.9 million in Q2 2017, up 8% from US$ 441 million for the same period in 2016. Total Sales in H1 2017 stood at US$ 983.3 million, up 15% YoY from US$ 856.8 million in H1 2016.</p> <p>The company’s net income jumped 8.5% to US$ 47.1 million in Q2 2017 from US$ 43.4 million in Q2 2016. Net...
<p>Norsk Hydro reports positive 2nd quarter 2017 results driven by higher realized all-in metal and favourable currency developments that was slightly offset by higher raw material costs and lower realized alumina prices. Hydro reports underlying EBITD of to NOK 2,930 million in comparison to NOK 2,284 million in the 1st quarter 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/HYDRO1.jpg" alt="News" width="517" height="226" /></p> <p>Commenting on the results, Hydro President & CEO, Svein Richard Brandtzæg says: </p> <p>"Higher aluminium prices in the quarter are lifting results, and I am pleased to see Sapa delivering record results, continuing the strong trend."</p> <p>"Hydro will confirm its...
<p>The recent volatility in LME aluminium prices seems to be extending further. The light metal contract which edged marginally higher at US$1,901 per tonne on Friday, July 21, fell again to US$1,890 per tonne on Monday, July 24. The drop in aluminium prices can also be partly attributed to the US dollar index that is regaining strength from its last week’s lows.</p> <p>Reuters’ technical analysis suggests that LME aluminium may rise into US$1,929-1,936 per tonne range in the short term. There is a support at US$1,913 per tonne, a break below which could a loss to US$1,898 per tonne.</p> <p>According to Shanghai Metals Market forecast, LME aluminium will hover in the range of US$1,905-1,925 per tonne on Tuesday, July 25, as resistance is intensifying.</p> <p style="text-align:...
<p>Rio’s subsidiary Tomago Aluminium smelter in New South Wales has been struggling with uncertain power supply and higher power rate issues for years now. Tomago, which is co-owned by Rio and has CSR subsidiary Gove Aluminium Finance consumes 12 per cent of the state’s electricity. It employs 1150 people and produces about 550,000 tonnes of aluminium a year. The smelter is currently facing production cut threat as a result of increasing wholesale electricity prices. Rio-controlled <a href="http://www.alcircle.com/primary_aluminium/newscircle/general/detail/28282/boyne-smelters-threatened-by-35-electricity-price-hike-in-queensland" target="_blank">Boyne Island smelter </a>in Gladstone has also reported the same concern sometimes back.</p> <p style="text-align:...
<p>The implementation of the Goods and Service Tax (GST) regime has resulted in the decrease of effective coal prices by 2-3 per cent for aluminium producers in India. The new tax structure has subsumed several additional taxes making power a little cheaper for the domestic players in the energy-intensive aluminium sector.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/coke.jpg" alt="News" width="517" height="339" /></p> <p>Under the new regime, coal attracts 5 per cent tax compared to the earlier 12 per cent tax. Prevailing environmental taxes, local taxes and a number of other charges have effectively brought down the effective tax rate by 2-3 per cent, instead of 7 per cent.</p> <p>"In effect, the effective tax rate...
<p>The prices of A00 Aluminium Ingot inched higher across major China markets though there was no fresh news of domestic aluminium output cut after Xinjiang and Shandong. The demand for the metal is estimated to drop in the fourth quarter of the current financial year, when focus will be primarily on production control during winter heating season. Prior to that primary aluminium prices are expected to range widely in the Chinese domestic market.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/SMMtableJuly24.png" alt="News" width="517" height="231" /></p> <p>As on Monday, July 24, the average price of A00 Aluminium Ingot (South China) stood at RMB 14,235 per tonne, the highest among the six market prices. The price rose...
<p>LME aluminium ended last week marginally above US$1,900 per tonne. Rising by 0.15 per cent from its earlier close of US$1,898 per tonne, the light metal settled at US$1,901 per tonne on Friday, July 21. With no further news of aluminium output cut in China, LME aluminium is expected to hold ground at US$1,910-1,930 per tonne range on Monday, July 24, Shanghai Metals Market said. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJuly24.png" alt="News" width="517" height="281" /></p> <p>As on July 21, LME official cash buyer aluminium price (Bid Price) stands at US$1,900.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$1,901 per tonne, 3M Bid Price is US$1,925.50 per tonne, 3M...
<p>According to the data showed by the International Aluminium Institute (IAI), the daily average primary aluminium production excluding China increased in June against May. The primary aluminium production stood at 70,300 tonnes in June as compared to 70,000 tonnes in May.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/High_Purity_Primary_Aluminium_Ingot.jpg" alt="news" width="448" height="300" /></p> <p>In China, the daily average aluminium production increase to 97,700 tonnes in June from 91,100 tonnes in May.</p> <p>On a monthly basis, the global primary aluminium production, outside China, was 2.11 million tonnes in June, down from 2.17 million tonnes in May.</p> <p></p> <p>In China, the...
<p>The first six months of 2017 are just over and aluminium has emerged as the best performing industrial metal of 2017 so far by gaining close to 15% in the first quarter itself. It has much outpaced base metals like zinc and copper after posting a 12.43% growth in 2016. Aluminium was the second worst performing base metal in 2016 which jumped up to be the best performing one in Q2 2017. </p> <p><strong>Throwback </strong></p> <p>Since the financial crisis in 2008-2009, the aluminium market has been inflicted with a supply glut. However, after hitting rock bottom prices, LME aluminium started gaining in the second half of 2016. The growth in in 2016 was driven by quick falling supply in China with the closure of capacity around August/September and demand growth as the result...
<p> South32, a globally diversified mining and metals company, yesterday reported an increase in production in all segments for the three months to June as compared to previous quarter. However, the company’s full year performance that ended in June was lower for several commodities.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/MOZAL%20aLUMINIUM.jpg" alt="news" /></p> <p>The company increased its alumina production by 2 per cent <strong>in the June quarter to</strong> 1.3-million tonnes. The aluminium production in the same quarter stood at 248,000 tonnes, an increase of one per cent.</p> <p>South32 achieved 2 per cent increase in total aluminium production at Mozal Aluminium...
