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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Since recording a multi-year low at INR 93 per kg in October 2015, the aluminium futures contract traded on the Multi Commodity Exchange (MCX) has been on an intermediate-term uptrend. However, the key resistance at INR 111 which is also 50 per cent Fibonacci retracement level of the prior downtrend, limited the contract’s rally in late February and again in late April this year. Subsequent decline found support at INR 103 in early May and began to move up. On Monday, Jue 13, the contract gained 2 per cent breaking an immediate resistance at INR 106 to settle at INR 107.3. In addition, this rally has breached the contract’s 21 and 50-day moving averages and trade well above them. On Tuesday, June 14, the contract was up by 0.3 to trade at INR 107.7. This recent breakthrough gives traders...
On a recent investor day at Meridian Energy, the Government-controlled company said it expected ongoing talks with New Zealand Aluminium Smelters, which operates the Tiwai Point smelter. NZAS' financial performance was in line with Meridian expectations and Meridian believed NZAS was cashflow positive at current aluminum prices. But NZAS was facing an electricity price increase on January 1, 2017 and Meridian expected NZAS to try to renegotiate. "Should NZAS decide to close, Meridian has undertaken preliminary work with market participants to quickly formulate contracting arrangements. That said, Meridian maintained its view NZAS was likely to stay around, which is consistent with our view,'' Ms Howe said. The biggest issue facing the electricity sector was the long-term future of the...
Worrying signs have arisen for aluminum prices, which have retreated from this year’s high of 13,000 yuan/tonne to below 12,000 yuan/tonne, SMM says. China’s aluminium output hit 2.68 million tonnes in May, the highest since November 2015, data from the National Bureau of Statistics (NBS) showed. About 500,000-tpy idled aluminium capacity was brought back online in the first half of this year, SMM statistics showed. SMM estimates some another 400,000-500,000-tpy aluminium capacity to be restarted in June and July. Aluminium stocks in China’s five major markets had fallen all the way from this year’s high seen in the week ending March 4. However, stocks reversed declines in the week ending June 13 by growing 19,000 tonnes from June 8. Although it is still early to say whether the change...
SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook. About 45 per cent of them expect SHFE 1608 aluminium to fall below RMB 11,800/mt and LME aluminium below USD 1,560/mt. First, the price spread between SHFE 1606 and 1607 aluminium contracts is as big as RMB 200/mt before upcoming delivery of the former. This left suppliers eager to sell, but trading was poor, especially in south China, where trading was contributed mainly by traders. Second, downstream producers mostly watched from the sidelines, with low buying interest, due to falling orders. Third, aluminium stocks in China’s five major markets grew nearly 20,000 mt as of June 13 compared with June 8. Ongoing capacity restarts will likely allow stocks to continue growing. Fourth, growing...
China’s aluminium production rose to 2.68 million tonnes last month from 2.57 million tonnes in April, and 2.67 million tonnes a year ago, according to the data. Output declined 1.7 per cent in the first five months to 12.62 million tonnes. Chinese smelters, which had pledged to slash production to bolster prices, are bringing back idled capacity after prices rebounded this year. With most producers in the world’s largest supplier enjoying solid margins, output growth will accelerate to 4 per cent year-on-year in the second half, Goldman Sachs Group Inc said in a report earlier this month. China’s fading infrastructure boom has left it saddled with too much capacity after decades of rapid growth. The nation is exporting its surplus at record rates, drawing the ire of international rivals....
Nagpur-based JNARDDC develops detoxifying process that destroys 98 per cent of cyanide from the aluminium waste and converts it into Carbon that can be used in place of coal. Dealing with hazardous waste, especially destroying cyanide contents from Spent Pot Lining (SPL), was a cause of concern for aluminium industry in the country. Nagpur-based Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC) has developed a revolutionary detoxifying process to deal with cyanide contents from SPL and convert it into Carbon of the grade which can be used in place of coal. “Aluminium industry of the country produces about 50,000 tonnes of SPL every year which contains 90 per cent of poisonous cyanide and remaining are valuable materials such as high fuel value carbon,” Dr Upendra...
Aluminium output in China will maintain growth in June due to release of restarted and new capacity, SMM predicts. The country’s operational new aluminium capacity will increase to 300,000-tpy in June. Yunnan Aluminium Co., Gansu Dongxing Aluminium, among other smelters, will restart idled capacity, SMM learned. China’s aluminium output totaled 2.61 million tonnes in May, down 1.1 per cent from a year ago, but up from April’s 2.49 million tonnes, SMM statistics showed.
China will release money supply for May today. Six Chinese aluminium smelters will hold a meeting today to discuss aluminium prices. This will leave SHFE 1608 aluminium moving widely between RMB 11,750-11,970/mt today. A strong dollar will send LME aluminium down to USD 1,560-1,580/mt. In China’s spot aluminium market, spot premiums of RMB 0-40/mt are expected over SHFE 1606 aluminium contract.
Vedanta is planning to acquire coal mines via auctions as the mining conglomerate seeks to ensure fuel security for its energy guzzling aluminium plants. “Numerous initiatives are being taken to meet our coal requirements. We will source our overall coal mix from low-cost imports and auctioned coal to optimise the cost in FY 2016-17. We are also looking to optimise our coal mix further by securing linkage coal through the auction route,” Vedanta Resources said. The government has not yet finalised the dates for holding the fourth round of coal mine auctions, which was annulled in December 2015.
China Aluminum International Trading Co. (Chalco Trading) cut aluminium prices in major markets after the Dragon Boat Festival compared with pre-holiday levels, 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 aluminium sales.
Aluminium prices edged up by INR 1.10 to INR 107.20 per kg in futures trade on Thursday, June 9, as participants enlarged their positions, supported by a strong spot demand in the physical market. In futures trading at the Multi Commodity Exchange, Mumbai, aluminium for delivery this month inched up by INR 1.10 or 1.04 per cent to INR 107.20 per kg in a business turnover of 316 lots. Likewise, the metal for delivery in July traded higher by INR 1.10 or 1.10 per cent to INR 107.95 per kg in 17 lots. Traders said strength in the base metals pack at the London Metal Exchange (LME), spurred by an improving trade outlook in China and monetary stimulus by the European Central Bank and increased domestic demand from consuming industries at the spot markets, helped aluminium futures to trade...
Hydro and the Norwegian University of Science and Technology (NTNU) today signed an agreement to establish a new professorship in aluminium. NTNU Dean Ingvald Strømmen Hydro's Head of Technology Hans Erik Vatne signed the agreement today Hydro is providing up to NOK 10 million for a five-year post to acquire new knowledge and strengthen Norway's leading position in aluminium. With the new professorship, the university is moving to become the world's leading research institution on the application of aluminium. "With this grant from Hydro behind us, we will take the lead in research to create new industrial development in both Norway and the world. If we are to succeed we must be constantly better, more effective and more innovative today than we were yesterday," says the Dean of the...
On June 6-7, U.S. Treasury Secretary Jacob J. Lew and Chinese Vice Premier Wang Yang led the eighth meeting of the Economic Track of the U.S.-China Strategic and Economic Dialogue (S&ED VIII) in Beijing, China. As the Special Representatives of President Barack Obama and President Xi Jinping, Secretary Lew and Vice Premier Wang led discussions with a high-level delegation of Cabinet members, ministers, agency heads, and senior officials from both countries. As the world’s two largest economies, the United States and China share a mutual interest in each other’s economic prosperity, and recognize that enhanced cooperation on the diverse set of issues encompassed in the S&ED is crucial for the health of the broader global economy. During the eighth meeting of the S&ED, the two sides pledged...
According to reports, several global base metals brokers are engaged in discussions with the former CEO of London Metal Exchange on the subject of starting a new trading platform as an alternative to the LME. Several “high-profile LME Category One” traders are believed to be in support of the initiative, which is likely to be spearheaded by former LME CEO Martin Abbott. “There have been lots of conversations, some of them I have been in, some I haven’t, but we have created a study group and now invite people to see if indeed there is sufficient appetite,” explained Abbott. According to the report, higher trading costs at the LME is the main catalyst driving the push for a new trading platform. Several members have gone on record in recent weeks and months stating that higher costs have...
As aluminium prices have whittled away their May gains by the beginning of June, news from a Goldman Sachs report indicates Chinese aluminium output is about to get ramped up again. Bloomberg recently reported that “with most producers in the world’s largest supplier [China] posting solid margins,output growth will accelerate to 4 per cent year-on-year in the second half after contracting 1.7 per cent in the first four months,” according to a Goldman report released Monday. As capacity fires back up, “the bank sees prices dropping to $1,450 a metric ton in three months, $1,400 in six months and to $1,350 in a year, reiterating previous forecasts.” SMM spot aluminium price gained 200 yuan/tonne week-on-week to 12,574 yuan/tonne in the week ending June 3. This expanded profit at smelters in...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, strengthened its business relations and networking opportunities with the global aluminium industry by participating in Harbor’s 9th Aluminium Summit, taking place from June 7 to 9, 2016 in Chicago, Illinois, USA. Alba’s Chief Executive Officer, Tim Murray delivered a keynote address on ‘Alba’s Line 6 Expansion Story’ at the Summit on June 8, 2016, during which he spoke about Alba’s plans to sustain its business through its upcoming sixth potline which will make Alba the largest single-site smelter in the world. Murray said: “Alba, through its Line 6 Expansion Project, is confident of building an enduring and successful future for the Kingdom of Bahrain and its economy. While we look forward to producing...
Norwegian aluminium producer Hydro and World Wide Fund for Nature (WWF) have entered into a one-year cooperation agreement. The goal is to develop innovative solutions that can help cut emissions related to climate change. Inger Sethov, Head of Communication & Public Affair’s in Hydro and Nina Jensen, WWF-Norway’s secretary general. Both Hydro and WWF are working to helping Norway meet is climate targets for 2030. Now Norway’s largest industrial concern and the Nowegian chapter of the world’s largest environmental organization are joining to find good solutions for a renewable society. The one-year agreement says the two shall “stimulate to identify and develop new business opportunities toward a low-carbon society.” “This is a cooperation I am looking forward to! The point is that we...
China has, for the first time, included the United States in a government scheme allowing American banks to clear renminbi-denominated transactions - in one of the few positive outcomes of the two sides' high-level dialogue that failed to narrow their differences over certain other issues like the South China Sea disputes that are of high strategic significance. China will grant the United States a 250 billion yuan (S$52 billion) quota under its Renminbi Qualified Foreign Institutional Investment (RQFII), significantly expanding the programme that stood at 501.77 billion yuan last month. The move makes the US the second-largest quota holder, behind Hong Kong with 270 billion yuan. The other countries involved in the scheme include Singapore, which joined the programme in 2013 and got its...
