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>The Rio Tinto board has reconfirmed its recommendation that shareholders vote in favour of the sale of its wholly-owned subsidiary Coal & Allied Industries Limited (“C&A”) to Yancoal Australia Limited (“Yancoal”). The recommendation follows consideration by the board of a counter proposal from Glencore plc (“Glencore”) and a proposal from Yancoal comprising improved terms to the transaction previously announced.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/1497988372452.jpg" alt="news" width="448" height="300" /></p> <p>Rio Tinto has engaged in active discussion with both parties and the board assessed a number of factors in its consideration of...
<p>According to a statement by the Indian Consulate in Shanghai, Adani Group inked a memorandum of understanding (MoU) with East Hope Group, one of China’s largest private companies, to build manufacturing units in Mundra special economic zone in Gujarat.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/AdaniEnterprise-kjUH--621x414@LiveMint.jpg" alt="news" width="448" height="300" /></p> <p>East Hope Group will invest $300 million in setting up the manufacturing units. The manufacturing units would produce solar power generation equipment, chemicals, aluminium and animal feed. </p> <p>It will also put in place East Hope Group’s engineering and industrial integration chain to...
<p>Sohar Aluminium, organisers of the 21<sup>st</sup> Arab International Aluminium Conference & Exhibition (ARABAL) has announced full details of the agenda for the event. The event will feature a distinguished and high-powered cadre of international industry leaders who will make up the keynote panel, informing and inspiring ARABAL 2017 attendees with their expert industry insights. The organisers have indicated that the ARABAL 2017 Call for Papers will close on 30<sup>th</sup> June and urge interested parties to submit their abstracts for consideration.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/ARABAL%20-%20Image.jpg" alt="News" width="517" height="204" /></p> <p>ARABAL 2017 is scheduled to be held in Muscat,...
<p>LME aluminium is finally showing some resilience. The downtrend that has been continuing for seven days at a stretch came to a halt yesterday with the light metal closing at US$1,861.50 per tonne after the night trading on Monday, June 19, marginally up from US$1,861 per tonne on June 16.</p> <p>Reuters’ technical analysis suggests that LME aluminium may challenge a resistance at US$1,899 per tonne and rise to US$1,908 per tonne on Tuesday, June 20.</p> <p>Shanghai Metals Market forecast says that aluminium prices on the global bourse will range at US$1,881-1,891 per tonne in the short term.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluminiumJune20.png" alt="News" width="517" height="273" /></p> <p>As on...
<p>The Aluminium futures contract on the Multi Commodity Exchange fell below a key support level of INR 121.5 a kg in the past week.</p> <p>However, the contract has not witnessed any strong follow-through selling after this break and has been stuck in a narrow range between INR 120 and INR 121 since then.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/BL20-ALUMINIUM_2_3176783f.jpg" alt="news" width="455" height="339" /></p> <p>It is currently trading at INR 120.5 per kg.</p> <p>The 200-day moving average support is at INR 119.5, which is likely to be tested as long as the contract trades below INR 121.5.</p> <p>If the contract manages to sustain above the 200-day moving average support, a...
<p>Trump’s new protective trade policies are creating concerns among the neighbouring countries like Canada which has been in a balanced trade relation with the U.S. Canada has been exporting large amount of aluminium into the U.S.</p> <p>President and CEO of the Aluminium Association of Canada Jean Simard said that the aluminium industry in Canada is trying to ensure that their aluminium export is not affected by the changing trade policies in the U.S.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/canada%20aluminum%20association.jpg" alt="News" width="517" height="226" /></p> <p>“With Trump in power, the aluminium industry is also up in the air,” said Simard, addressing Kitimat Chamber of Commerce...
<p>Emirates Global Aluminium, the largest industrial company in the UAE outside oil and gas, today announced Al Robot, a robotics competition that challenges students at universities and higher education institutions in the UAE to create a robot to tackle a real life challenge at EGA’s aluminium smelters.</p> <p>Al is the chemical symbol for aluminium.</p> <p>The competition asks university students to design, build and operate an autonomous robot capable of laying the brickwork lining of pots in which aluminium is smelted. This challenging work is currently done by hand.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/5673113_640.jpg" alt="news" width="448" height="300" /></p> <p>EGA...
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, announced the commencement of construction site-works on its Line 6 Expansion Project in the second quarter of 2017 after the completion of the Front End Engineering Design (FEED) study. The FEED was completed in the first quarter of 2017. </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 stated: “Line 6 Expansion Project has started to take shape with the site being mobilized for preparation work - one of the major activities - which will ensure...
<p>Primary aluminium ingot prices edged higher across major China markets. As on Monday, June 19, A00 aluminium ingot price in North China ranges between RMB 13,540-13,560 per tonne; average price stands at RMB 13,550 per tonne, up 0.44 per cent from its previous price of RMB 13,490 per tonne.</p> <p>The price of A00 aluminium ingot (South China) is ranging between RMB 13,620-13,670 per tonne. The average price is the highest at RMB 13,645 per tonne, up 0.52 per cent from its previous price of RMB 13,470 per tonne.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/SMMJune19.png" alt="News" width="517" height="185" /></p> <p>A00 aluminium ingot price in East China- Zhejiang market stands at RMB 13,520-13,530 per tonne with...
<p>Any rise in LME aluminium, if at all that happens, will be a marginal one. The light metal traded globally ended last week in a dip near US$1,860 per tonne, down from the earlier close of US$1,864 per tonne. Fundamentals are still weak; so, it is likely that LME aluminium will keep trading at lows in the short term. Further, the metal contract faces a strong resistance at the five-day moving average. Based on that, Shanghai Metals Market predicts that aluminium prices will hover in the range of US$1,862-1,880 per tonne on Monday, June 19.</p> <p>Reuters’ technical analysis suggests that LME aluminium may break above the resistance and rise towards the next resistance at US$1,899 per tonne. Support is at US$1,871, a break below which would lead to the continuation of the downtrend...
<p>AlCircle helps you to keep track of news that happened in the world of aluminium. Last week, Qatar's Qatalum aluminium plant faced outbound logistical challenges following a diplomatic row with neighbours in the Middle-East and neighbours blocked shipments through their ports. A few major companies secured license contracts and others expanded their downstream operations.</p> <p>Here’s a compilation of the top trending stories covering the primary aluminium vertical for the week that went by:</p> <p><strong>Bosnia’s Aluminij unit secures power supply licence</strong></p> <p>Bosnian aluminium smelter Aluminij announced that its unit AL Trade has secured two years license from FERK, the energy regulator of Bosnia’s Federation. FERK has granted a license to AL...
<p>According to Bank of America Merrill Lynch’s (BofAML’s) Global Commodity Research team, China needs to curtail its capacity of aluminium in order to rebalance the global market. “If the country's smelters increased production as planned, the global market would be oversupplied to the tune of almost five-million tonnes a year between 2018 to 2020”, it added.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/004.jpg" alt="news" width="448" height="300" /></p> <p>The analysts said, “Indeed, fundamentals on the Chinese market have been so weak that the country's smelters could have almost justified sending primary aluminium abroad, despite a 15% export...
<p>Rising for the third straight day, aluminium prices rose by another 0.29 per cent to INR 120.50 per kg in futures trading on June 15, as speculators engaged in enlarging positions, taking positive cues from spot market on rising demand.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/blog_aluminum_ingots.jpg" alt="News" width="420" height="272" /></p> <p>At the Multi Commodity Exchange, aluminium for delivery in June traded higher by 0.29 per cent, to INR 120.50 per kg in a business turnover of 352 lots.</p> <p>Similarly, the metal for delivery in July went up by 0.25 per cent, to INR 120.95 per kg in 14 lots.</p> <p></p> <p>Analysts said expanding of positions by traders, tracking a firm trend at spot market on rising...
<p>Primary aluminium ingot prices edged higher across major China markets. As on June 16, A00 aluminium ingot price in North China is ranging between RMB 13,480-13,500 per tonne; average price is RMB 13,490 per tonne, up 0.75 per cent from its previous price.</p> <p>The price of A00 aluminium ingot in Northeast China is ranging between RMB 13,470-13,490 per tonne. Its average price is RMB 13,480 per tonne, also up by 0.75 per cent from its previous price.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/SMMJune16.png" alt="News" width="517" height="183" /></p> <p>A00 aluminium ingot price in East China- Zhejiang market stands at RMB 13,460-13,480 per tonne with the average price at RMB 13,470 per tonne (+0.75%).</p> <p>The...
<p>Press Metal Bhd, the largest aluminium smelting firm in Indonesia expects stronger financial performance for the year ending Dec 31, 2017 (FY17) driven by improved aluminium prices and increased output. The group is expecting better growth in its bottom line and top line supported by higher aluminium price and a rise in the value of the US dollar.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/press%20metal2.JPG" alt="News" width="517" height="226" /></p> <p>“We believe the price of aluminium this year will be higher than last year, and we are positive about the production output, which is going to be more,” said chief executive officer Datuk Paul Koon Poh Keong.</p> <p> “If the US dollar...
<p>LME aluminium unable to sustain at US$1,880 per tonne level fell to US$1,864 per tonne on Thursday, June 15. The light metal which edged higher at US$1,886.50 per tonne on Tuesday, June 14, is being weighed on heavily by the growing stocks and slow moving inventory. LME aluminium has come down by 3.4 per cent from its monthly high of US$1,930 per tonne on June 1.</p> <p>There is a possibility that aluminium prices on LME will inch slightly higher as the US dollar index is plunging. The greenback hit its lowest since November 9 after weak US data on Wednesday; the light metal may gain support from it. However, recent price trend suggests that any rise will be transitory. </p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>Russian aluminium major Rusal said it plans to boost its aluminium production by 19% to 4.4 million tonnes by 2021, in order to cater to the rising global demand. The company expects the global demand to grow by 4 to 5 per cent annually till 2021 as the demand for "green" aluminium and advanced alloys is growing at a faster rate. The global demand for primary aluminium is expected to increase by 13.5 million tonnes to reach 73.2 million tonnes by 2021.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusal%20demand.jpg" alt="News" width="517" height="300" /></p> <p>The company presentation for May also said that that it aims to use 100% non-carbon energy sources for aluminium smelting by 2020, up 5% from the current...
<p>The prices for A00 Aluminium Ingot for all major markets in China (North, South, East, North-East and South-West) have plunged further after the last gain on June 9 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/a00ingot15june.png" alt="News" width="755" height="316" /></p> <p>Currently, among the domestic markets, the prices for A00 Aluminium Ingot for North China market have plunged 1.55% down from RMB 13,600/t on June 14 2017 to RMB 13,390/t on June 15 2017. A00 Aluminium Ingot at South China market plunged from RMB 13,625/t on June 14 to RMB 13,470/t on June 15. </p> <p>The price in East China market (Zhejiang) dropped from RMB 13,560/t on June 14 to RMB 13,370/t on June 15 and for Jiangsu province it...
