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...
Grow with
AL Circle
<p>India’s leading diversified natural resources company Vedanta Limited has been featured among the top 100 companies in the Asia300 list released by Nikkei Asian Review. Vedanta Limited is the only company in the natural resources sector to be selected among the top 100.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/1472472431-5136.jpg" alt="news" width="448" height="300" /></p> <p>Mr. Tom Albanese, CEO of Vedanta Limited said, “It gives us immense pride to represent India’s natural resources sector in Nikkei Asia300 list. Vedanta’s diversified portfolio of low cost and tier-1 assets is at the core of its strong financial performance.</p> <p> “I am...
<p>LME aluminium after staging a reversal last Friday, June 30, is rising at a moderate pace. The lightmetal contract closed at US$1,917.50 per tonne after night trading on Monday, July 3, up from US$1,908.50 on June 30.</p> <p>Shanghai Metals Market forecasts that LME aluminium will challenge US$1,930 per tonne and range at US$1,920-1,940 per tonne on Tuesday, July 4.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJuly4.jpg" alt="News" width="517" height="261" /></p> <p>As on July 3, LME official cash buyer aluminium price stands at US$1,917 per tonne, cash seller & settlement aluminium price is US$1,917.50 per tonne, 3M buyer price is US$1,921 per tonne, 3M seller price is US$1,922 per tonne, Dec1 buyer...
<p>The U.S. primary aluminium industry which was once buzzing with 30 aluminium smelters in the country by aluminium majors like Alcoa and Century is now operating just just five smelters with curtailed capacity with uncertain future. Aluminium producers like Alcoa and Century Aluminum which have closed smelters in the U.S. have their smelters running in Iceland, mostly because of the cheaper hydroelectricity in the country.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/icelandic-aluminum-smelter-21.jpg" alt="News" width="517" height="226" /></p> <p>This tiny Iceland country which was once known only for its huge fish production and export is on the way to produce more aluminium in 2017 than the United States in the...
<p>The global aluminium market which was valued at $133,564 million in 2015 is forecasted to be valued at $167,277 million by 2022. The market will grow at CAGR of 3.3 per cent from 2016 to 2022, according to newly published report by Allied Market Research.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/non-ferrous-goods-compressor.jpg" alt="news" width="448" height="300" /></p> <p>In 2015, the transport sector was dominated the market in terms of revenue with more than one-fourth share. The segment is projected to grow further, with an anticipated CAGR of 3.6 percent.</p> <p>This sector is driving the growth of aluminium market worldwide followed by other end user sectors such as foil &...
<p>The Bahrain-based international aluminium smelter Aluminium Bahrain (Alba) yesterday said that the first concrete for the foundation of Potline 6 was ‘successfully’ achieved in May this year with the commencement of early works in the construction site.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium-Bahrain.jpg" alt="news" width="448" height="300" /></p> <p>Alba’s Chairman of Board of Directors Shaikh Daij Bin Salman Bin Daij Al Khalifa said: “We are very pleased with the fast-track approach adopted by our team towards our landmark project.”</p> <p>“We also remain optimistic that by reducing the lead time activities, we will be able to get...
<p>The prices for A00 Aluminium Ingot for all provinces in the China markets (North, South, North-East and South-West) have registered a rise on July 3 after a drop on June 30 2017. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/a00ingot3july.png" alt="News" width="759" height="319" /></p> <p>On July 3 2017, among the domestic markets, the average prices for A00 Aluminium Ingot for North China market have increased from RMB <strong>13,700/</strong>t on June 30 to RMB <strong>13,850/t</strong>. A00 Aluminium Ingot at South China market jumped from RMB <strong>13,780</strong>/t on June 30 to RMB<strong>13,945/t</strong> on July 3. </p> <p>The price in East China market (Zhejiang) jumped from RMB...
<p>LME aluminium after trending down for almost a month now edged higher above the US$1,900 per tonne level and closed at US$1,908 per tonne after night trading on Friday, June 30. Though the light metal is still 1.13 per cent down from its beginning-of-month price (US$1,900 per tonne) it has risen from the month-low of US$1,855 per tonne by 2.58 per cent. Despite the gain, market analysts do not seem to be much optimistic about the metal’s medium term outlook.</p> <p>Shanghai Metals Market thinks that LME aluminium will “run out of steam” and range at US$ 1,910-1,930 per tonne on Monday, July 3. The contract is likely to meet strong resistance at the 60-day moving average, SMM forecasts.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>G20 leaders are going to meet in Germany next week to discuss many important topics for the global agenda related to trade policies and investments. The aluminium industry in the U.S. Canada and Europe has urged the G20 to address the issue of Chinese overcapacity, which is causing disruption in the global aluminium industry and is distorting international trade flows.</p> <p>Gerd Götz, Director General of European Aluminium said that the G7 took the right step by pushing for the removal of all trade-distorting practices and calling for a truly level playing field.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/european%20aluminium.png" alt="News" width="517" height="226" /></p> <p>“But the G20 must go...
<p>China aluminium market, and to some extent, regional markets outside China heavily dependent on the country for aluminium imports have been worrying over aluminium output cut planned for the winter heating season this year. Shanghai Metals Market observes that such concerns are somewhat overdone.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminiumcapacity.jpg" alt="News" width="517" height="343" /></p> <p>In June 2017, Bank of America Merrill Lynch’s (BofAML’s) Global Commodity Research team said that China needs to curtail its <a title="News" href="http://www.alcircle.com/primary_aluminium/newscircle/market/detail/26876/chinas-proposal-to-curtail-metal-production-may-affect-big-players"...
<p>Washington has recently started a probe into aluminium imports from the world's top producer of the metal on national security grounds and the US Department of Commerce held a public hearing on June 22 on the Section 232 Investigation into the impact of aluminium imports on US national security. The country is also conducting a separate investigation into steel. The rarely used section 232 of the Trade Expansion Act of 1962 allows restrictions on imports for reasons of national security. China's Commerce Ministry has expressed their concern over this development during the 100-day trade talk period.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Alaluminium.jpg" alt="News" width="517" height="226" /></p>...
<p>The Aluminum Association, in cooperation with the Aluminium Association of Canada, reported primary aluminum production in North America (U.S. and Canada) was at an annual rate of 3,950,536 tonnes during May 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/primary%20aluminium.png" alt="News" width="368" height="219" /></p> <p>On a month on month comparison, the rate is down 0.4% from the April 2017 rate of 3,965,567 tonnes. On a YoY comparison, North American annual production rate slightly dropped from May 2016.</p> <p>The production rate in the U.S. increased 2.9% MoM, while the Canadian rate was off 1.1% indicating the consistent production rate in Canada. Actual production through the first five months of 2017...
<p>LME aluminium is gaining strength. The light metal which has been struggling around US$1,860 per tonne since last 14 days finally seems to be retracing US$1,900 per tonne. Rising by 0.58 per cent from its previous close of US$1,886 per tonne on June 28, LME aluminium settled at US$1,897 per tonne on Thursday, June 29.</p> <p>Shanghai Metals Market foresees that LME aluminium will rise to US$1,904-1,916 per tonne on Friday, June 30. However, the contract is likely to struggle at its 20-day and 10-day moving averages in the short term.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJune30.png" alt="News" width="517" height="277" /></p> <p>As on June 29, LME official cash buyer aluminium price stands at US$1,897...
<p>According to a notice issued by the National Development & Reform Commission (NDRC) and National Energy Administration (NEA) and published by Shanghai Metals Market, the Chinese Authorities are set to inspect Coal-fired captive power plants at aluminium smelters in six major aluminium producing provinces in China.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/smelter.jpg" alt="news" width="448" height="300" /></p> <p>The six aluminium producing provinces will be inspected before the end of June, as reported. The six provinces include Xinjiang, Inner Mongolia, Gansu, Guangxi, Jiangsu and Shandong. According to a source, three producers in each of these six provinces will be...
<p>Putting all speculations to rest the government of India said yesterday, June 28, that it is not considering privatising National Aluminium Company Limited (Nalco); rather, it is facilitating the PSU with its INR 5,540 crore worth expansion plan that would make it a leading aluminium producer of the country.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/nalco.jpg" alt="News" width="517" height="362" /></p> <p>In a statement Ministry of Mines said, "It has come to the notice of the government regarding a news item appearing in some section of the Press that Government of India is trying to privatise the National Aluminium Company Limited (NALCO) through buyback and offer for sale (OFS). Due to such news items, NALCO...
<p>The prices for A00 Aluminium Ingot for all provinces in the China markets (North, South, North-East and South-West) have registered a rise for two consecutive days after the last drop on June 27 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/a0029%20ingot.png" alt="News" width="640" height="318" /></p> <p>On June 29 2017, among the domestic markets, the average prices for A00 Aluminium Ingot for North China market have increased from RMB <strong>13,700/</strong>t on June 28 to RMB <strong>13,800/t</strong>. A00 Aluminium Ingot at South China market jumped from RMB <strong>13,825</strong>/t on June 28 to RMB<strong>13,860/t</strong> on June 29. </p> <p>The price in East China market (Zhejiang) jumped from...
<p>The Chinese government is continuing to push for wide-scale aluminium supply side reform. After China Hongqiao Group, the biggest aluminium producer in China, announced curtailment of its outdated capacity a few days back, it is time now for another aluminium giant Shandong Weiqiao Group to walk the same path.</p> <p>The company, also a subsidiary of <a title="Aluminium News" href="http://www.alcircle.com/primary_aluminium/newscircle/general/detail/28028/china-hongqiao-group-to-cut-outdated-capacity-on-the-back-of-governments-directive" target="_blank">China Hongqiao Group</a>, announced that it will cut aluminium capacity by 250,000 tonnes. This decision comes as a huge boost to the government’s aluminium supply side reform initiatives. Unnamed sources say that Weiqiao has...
<p>LME aluminium has finally reversed its downtrend- but will this uptick extend into a sustained uptrend? Unlikely- suggests technical analysis by market experts. The lightmetal which had touched the monthly low of US$1,855 per tonne earlier this week rose to US$1,886 per tonne after night trading on Wednesday, June 29, up 1.34 per cent from its previous close of US$1,861.50 per tonne.</p> <p>Shanghai Metals Market observes that LME aluminium will struggle between the 20-day and 10-day moving averages and range at US$1,889-1,904 per tonne on Thursday, June 29.</p> <p>Reuters’ technical analysis suggests that LME aluminium may retrace to as low as US$1,756 per tonne over the next three months.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>Russian news agency Interfax reported that the country’s energy ministry on Tuesday June 27 said that the Rusal smelters at Novokuznetsk, Khakass, Sayanogorsk, Bratsk, Irkutsk, Krasnoyarsk had lost power due to power outages at the Boguchansk HPP and Berezovskaya power plants.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusal%20smelter.jpg" alt="News" width="517" height="226" /></p> <p>However, UC RUSAL announced through a press release that all production facilities that have been impacted by certain power disruptions in Siberia are operating normally.</p> <p></p> <p>The statement confirms that the company has successfully handled the power disruptions in the 500kV transmission lines in Siberia on June 27,...
