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 Bahrain (Alba), one of the largest aluminium smelters in the world, announced the promotion of Faeq Abdulrahim for the position of manager for strategic supply and planning.</p> <p>Alba’s chief executive officer Tim Murray, said: “Alba takes great pride in promoting talented Bahraini professionals to decision-making roles. Faeq has excellent skills in procurement and contract management and has been delivering exceptional results.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/alba3.jpg" alt="news" width="448" height="300" /></p> <p>“I am confident that he will play a key role in Alba’s global strategic expansion initiatives and build strong relationships...
<p>Vedanta Ltd plans to increase its volumes by 50% across all business operations over the next two-three years as a part of its capital expenditure (capex) plans. Chairman Navin Agarwal said this during the annual general meeting (AGM) on Friday. This was the first AGM convened by Vedanta after its merger with Cairn India in April.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Vedanta%20House_New%20Logo.JPG" alt="News" width="517" height="226" /></p> <p>"We cannot give you an exact capex figure but in the next two-three years, you will see the company grow 50 per cent larger than what it is now in terms of its volumes across all businesses," said the Chairman.</p> <p>According to the company CFO, the major...
<p>The average prices for A00 Aluminium Ingot for all major Chinese markets (North, South, North-East and South-West) have registered another significant leap on July 14. The average prices for A00 ingot have registered close to 1% growth around all major markets today.</p> <p>On July 14 2017, among the domestic markets, the average price for A00 Aluminium Ingot for North China market has increased to RMB <strong>14,160/t</strong>. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chart%20(23).jpeg" alt="News" width="517" height="226" /></p> <p>The price in East China market (Zhejiang) jumped to RMB<strong>14,190/t</strong> on July 14 and for Jiangsu province it increased to RMB<strong>14,160/t</strong>.</p> <p>For...
<p>China is literally in the driver’s seat when it comes to aluminium. The giant accounting for the more than 50 per cent of the world’s total production is controlling the dynamics of the entire aluminium market, to say the least. This was once again proven correct when yesterday the lightmetal traded on London Metal Exchange rose nearly 2 per cent- the biggest one-day increase in last three months, as the news of China curbing aluminium smelter capacity sparked a midday rally. LME aluminium hit a peak of US$1,943 per tonne.</p> <p>After night trading on Thursday, July 13, LME aluminium settled at US$1,911 per tonne, still 1.8 per cent up from its previous day’s close of US$1,877 per tonne. </p> <p>According to Reuters’ technical analysis, LME aluminium...
<p>If reports are to be believed, China’s Shandong will cut the production of aluminium by over 2 million tonnes. According to the latest news published by Shanghai Metals Market (SMM), China’s aluminium giant Shandong Weiqiao is expected to slash its aluminium production by 1.4 million tonnes.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary%20aluminium.JPG" alt="news" width="448" height="300" /></p> <p>Xinfa Group is estimated to cut 600,000 tonnes of aluminium. SMM cautions investors to refrain from overt optimism following the news of the production cut.</p> <p>It is projected that there will be more than 3 million tonnes per annum of legal aluminium capacity under...
<p>The prices of aluminium futures in Indian market rose 0.62 per cent today, further up from yesterday’s 0.29 per cent rise, to stand at INR 121.95 per Kg. Speculators were found engaging themselves in enlarging positions and taking positive cues from the aluminium spot market as demand improved.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminiumfutures.jpg" alt="News" width="459" height="293" /></p> <p>At Mumbai’s Multi Commodity Exchange, aluminium for July delivery was up by 0.62 per cent at INR 121.95 per Kg in a total business turnover of 1092 lots.</p> <p>Prices of aluminium contracts for August delivery also edged higher simultaneously by a similar margin to stand at INR 122.60 per Kg in a total...
<p>The average prices for A00 Aluminium Ingot for all major Chinese markets (North, South, North-East and South-West) have registered a rise for two consecutive days. The average prices for A00 ingot have registered a price growth of 0.40% to 0.65 % today.</p> <p>On July 13 2017, among the domestic markets, the average price for A00 Aluminium Ingot for North China market has increased to RMB <strong>14,040/t</strong>.</p> <p>The price in East China market (Zhejiang) jumped to RMB<strong>14,060/t</strong> on July 13 and for Jiangsu province it increased to RMB<strong>14,050/t</strong>.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chart%20(22).jpeg" alt="News" width="517" height="226" /></p> <p>For the Northeast...
<p>Russia’s UC Rusal has resumed construction at its long-stalled Taishet aluminium smelter project site in Siberia. The second largest aluminium producer of the world after China Hongqiao expects the global aluminium deficit to widen in the range of 1.7-1.8 million tonnes in 2018 from the current 1.3 million (+500,000 tonnes). Taishet aluminium smelter, on completion, would help to address this deficit to a large extent, Rusal Deputy Chief Executive Oleg Mukhamedshin believes.</p> <p>The global aluminium price is estimated to stabilise around US$1,900 per tonne in 2017, Mukhamedshin added.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/taishet.png" alt="News" width="517" height="390" /></p> <p>Rusal had invested...
<p>Rising global inventory and weakening demand in the foreign market seems to have weighed too heavily on LME aluminium. The light metal contract upon failing to draw support from a weak dollar bent under the pressure and settled at US$1,877 per tonne on Wednesday, July 12, down 0.1 per cent from its previous day’s close of US$1,879 per tonne.</p> <p>According to Reuters’ technical analysis, LME aluminium has broken below a key support at US$1,891; hence, the downtrend. It is now likely to test a resistance at US$1,912 per tonne, a break above which can lead to a gain to the next resistance at US$1,926.</p> <p>Shanghai Metals Market predicts that LME aluminium may fell below the 20-day moving average and keep trading at US$1,880-1,900 per tonne on Thursday, July 13.</p> <p...
<p>Alcoa Corporation announced that it has proposed to restart three of five potlines, which were closed in March of 2016, at its Warrick Operations aluminium smelter near Evansville, Indiana. The company said that it would improve the competitiveness of the on-site rolling mill. The process is expected to be completed in the second quarter of 2018. The three potlines will have an annual capacity of 161,400 tons.</p> <p>Tim Reyes, President of Alcoa’s aluminium business unit said, “By restarting a portion of the Warrick smelter, we will provide an efficient source of metal for the co-located rolling mill and help it meet an anticipated increase in production volumes.”</p> <p>I<img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>LME aluminium failed to hold highs and dropped below US$1,900 even though the dollar index, which measures the U.S. dollar against a basket of six major currencies, moved lower at 95.660. The light metal contract closed at US$1,879 per tonne after night trading on Tuesday, July 11, down 1.8 per cent from its previous close of US$1,914 per tonne on Monday, July 10.</p> <p>Shanghai Metals Market observes that LME aluminium will trade in the range of US$1,885-1,905 per tonne on Wednesday, July 12.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAlujuly12.jpg" alt="News" width="517" height="245" /></p> <p>As on July 7, LME official cash buyer aluminium price stands at US$1,978 per tonne, cash seller & settlement...
<p>Aluminium Bahrain B.S.C. (Alba) closed the first half of 2017 with a production volume of 453,395, down 4.5% YoY. The drop was mainly driven by the production loss in reduction line 5 due to power outage, the recovery process of which is still underway. The total sales volume stood at 453,089 tonnes, which was down by 3.9% YoY.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Alba%20Aerial%20View.jpg" alt="News" width="517" height="226" /></p> <p>Sales and Production volumes for Q2 2017 topped 210,157 metric tonnes and 204,617 metric tonnes respectively.</p> <p>Alba’s Value-Added Sales was 61% of total shipments in Q2 2017 in comparison to 55% for the same period in 2016. For the first half of 2017, the share of...
<p>According to reports, National Aluminium Company Limited (NALCO) today witnessed a major fire break- out at its Captive Power Plant (CPP) in Angul, Odisha. The incident caused severe damage to the transformer of the CPP.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/CAPTIVE%20POWER%20PLANT.jpg" alt="news" width="336" height="300" /></p> <p>The fire incident that happened at around 2 pm destroyed the generator transformer completely. The generator transformer was priced at around INR 15 crore, the report stated.</p> <p>It is assumed that the transformer caught fire because of excess heating or any other technical fault though the actual reason behind the incident is not known as of...
<p>According to the latest figures showed by the Iranian Mines and Mining Industries Development and Renovation Organization, Iranian mining companies produced 84.89 million tons of mineral products during the first quarter of the current fiscal year (March 21-June 21). The companies registered a 9.49 per cent increase year-on-year.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/iran.jpg" alt="news" width="448" height="300" /></p> <p>Iran’s three major aluminium manufacturers produced 82,605 tons of aluminium ingots during the first quarter of the current fiscal year, registering a 5.51 per cent decline year-on-year.</p> <p>Iran Aluminum Company, the first producer of aluminium in the...
<p>The G20 Summit which was held on 7-8 July 2017, at Haburg Messe, Germany, saw leaders from each country agreeing on the need to remove market-distorting factors and work together to address the global excess of aluminium capacity but no concrete solution could be reached in this regard.</p> <p>It is indeed critical that governments recognise, negotiate and look for solutions together. Nevertheless, we regret that the Summit failed to specifically address the problem of global excess capacity in the aluminium industry”, said Gerd Götz, Director General of European Aluminium.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/G20_2017_logo.svg_.png" alt="News" width="517" height="317" /></p> <p>Götz...
<p>The price rally in LME aluminium came to a halt as the light metal surrendered all its July gains and closed at US$1,914 per tonne on Monday, July 10. The drop by 0.31 per cent from its previous close of US$1,920 per tonne on Friday, July 7, is indicative of the fact that LME aluminium is nearing a correction. According to Shanghai Metals Market projections, the contract will range at US$1,888-1,911 per tonne on Tuesday, July 11.</p> <p>Reuters’ technical analysis suggests that LME aluminium may test a support at US$1,891 per tonne, a break below which could take the metal down to the next support at US$1,877.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAlujuly11.jpg" alt="News" width="517" height="245"...
<p>The global aluminium metals market which was valued at USD 1, 12,487.9 million in 2015 is projected to be valued at USD 1, 60,696.1 million by 2022. The market will grow at CAGR of 5.3 per cent from 2016 to 2022, according to the report on Global Aluminium Metals Market of Market Research Future. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/lubrifiants-aluminium-lingotieres.png" alt="news" width="448" height="300" /></p> <p>The major participants of global aluminium metals market are: RUSAL, Aluminium Corporation of China Ltd., Rio Tinto Alcan Inc., Norsk Hydro ASA, Alcoa, Inc., China Hongqiao Group Limited and Emirates Global Aluminium PJSC.</p> <p>The primary aluminium accounts for...
<p>Lam Dong Aluminium-Bauxite Complex project is hoping to churn out earnings up to VND1.2 trillion (US$52.6 million) per year after three consecutive years of losses. The Complex has already started seeing their earnings. </p> <p>It was forecasted that the project would incur losses for the first five years of operation, but the complex has seen profits right from the fourth year, Deputy Minister of Industry and Trade Do Thang Hai stated during his visit to the project.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/8ce97254af6e74442bd9ad279d79e130_nha-may-alumina-tan-rai-sap-dat-100-cong-suat-thiet-ke-153113119PM.jpg" alt="news" width="448" height="300" /></p> <p>In March this year,...
