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 partially recovered its recent losses and edged higher at US$1,903.50 per tonne on Wednesday, June 7. The 0.55 per cent rise in aluminium prices on the global bourse from the previous day’s close of US$1,893 per tonne is seen as a transitory turnaround by the analysts which they say is unlikely to extend over the short term.</p> <p>Shanghai Metals Market (SMM) suggests that LME aluminium will continue to hover at lows of US$1,895-1,915 per tonne on Thursday, June 8.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEprice.jpg" alt="News" width="517" height="278" /></p> <p>As on June 7, LME official cash buyer price of aluminium stands at US$1,903 per tonne, cash seller & settlement price is...
<p>Two of the world's biggest primary aluminium producing countries Russia and the US registered declines in their aluminium offshore sales during January-April 2017. Russia reported a drop in the export volume while the US registered a decline in both import and export for the period under review.</p> <p>A comparative trade data shows the following aluminium export trends for both countries during January-April 2017 vis-à-vis January-April 2016. Please note, the figures given below are estimates; the actual figures represent a drop which can be attributed to multiple macroeconomic factors.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/russia.png" alt="news" width="448"...
<p>Quintiq, a Dassault Systèmes brand and global leader in supply chain planning and optimization (SCP&O), announced that they would continue their partnership with Aluar Aluminio Argentino S.A.I.C. (Aluar) in order to improve the aluminium producer’s planning and optimization capabilities.</p> <p>Aluar, the only primary aluminium producer in Argentina, has a production capacity of 460,000 tons. The company exports around 70 per cent of its output around the globe. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/2a26df8.png" alt="news" width="448" height="220" /></p> <p>Gabriel Perez Villamil, Aluar’s IT Director, said, “The advantages of Quintiq were clear to...
<p>LME aluminium failed to hold its ground and plunged below US$1,900 per tonne overnight as crude oil prices fell majorly due to ongoing Middle East tension. The key economic indicator presented a gloomy outlook despite OPEC move to extend production cuts. LME aluminium also failed to draw support from a weak US dollar which traded near a seven-month low on Tuesday, June 6. The light metal traded globally closed at US$1,893 per tonne at the end of last night’s trading, down 1.2 per cent from the previous close of US$1,917 per tonne on Monday, June 5.</p> <p>Shanghai Metals Market (SMM) forecast suggests: aluminium prices on LME will continue to struggle around US$1,900 per tonne and fluctuate in the range of US$1,895-1,915 per tonne on Wednesday, June 7.</p> <p style="text-align:...
<p>Emirates Global Aluminium (EGA), one of the world’s biggest aluminium producers, today announced that the company opened its new head office.</p> <p>The new office is located next to its Al Taweelah aluminium smelter and alumina refinery in Khalifa Industrial Zone Abu Dhabi, KIZAD, which is currently under construction.</p> <p> <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium-Ingot(1).jpg" alt="news" width="448" height="263" /></p> <p>Abdulla Kalban, EGA’s Managing Director and Chief Executive Officer, said, "We integrated our predecessor companies to form EGA some years ago, but the opening of our new head office is the final symbolic step.”</p> <p>“This...
<p>A producer and a Japanese buyer agreed to set the third-quarter premium for aluminium imports into Japan at $119 per tonne plus LME cash CIF Japan, down from $128 per tonne for Q2, several parties involved in the talks said Monday.</p> <p>The agreement was for P1020/P1020A aluminium ingot for shipping to Japan over July to September, for over 500 tonnes per month.</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>Around 15 Japanese buyers and five producers are continuing the negotiations, sources said.</p> <p>Rusal offered at $128 per tonne plus LME cash CIF Japan, Rio Tinto Japan at $123 per tonne, a third producer at $125 per tonne, and a fourth...
<p>As per the figures released by the Directorate General of Commercial Intelligence and Statistics, Kolkata and Directorate of Export Promotion and Marketing, Bhubaneswar, Odisha registered 72 per cent increase in the value of exports of aluminium and aluminium products in 2016-17.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/mkdwkxgihcbsi.jpg" alt="news" width="448" height="263" /></p> <p>Odisha posted a growth in exports between 2015-16 and 2016-17. The exports turnover, which was INR 19,082 crore in 2015-16, has gone up INR 40,872 crore during 2016-17, an increase of 114 per cent.</p> <p>MSME Secretary L.N. Gupta said, “The growth has mainly been on account of increase in the value...
<p class="hs1">The Qatalum aluminium plant is working to solve outbound logistical challenges arising from the uncertain situation in the Middle-East after Saudi Arabia, UAE, Bahrain and Egypt cut off transportation links and severed diplomatic ties with Qatar.</p> <p class="hs1" style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/jelebi%20ali.jpg" alt="News" width="517" height="226" /></p> <p class="hs1">Qatalum is a joint venture between Hydro and Qatar Petroleum, and is producing more than 600,000 tonnes per year of value-add primary aluminum to customers in Asia, Europe and the U.S. Most Qatalum shipments normally go through the large Jebel Ali port in UAE, but this port looks to be closed for all Qatar shipments from Tuesday...
<p>The prices for A00 Aluminium Ingot for all provinces in the China markets (North, South, North-East and South-West) have plunged further after the last gain on June 2 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/a00ingot6june.png" alt="News" width="755" height="318" /></p> <p>Currently, among the domestic markets, the prices for A00 Aluminium Ingot for North China market have plunged 0.66% down from RMB 13,690/t on June 5 2017 to RMB 13,600/t on June 6 2017. A00 Aluminium Ingot at South China market plunged from RMB 13,735/t on June 5 to RMB 13,630/t on June 6. </p> <p>The price in East China market (Zhejiang) dropped from RMB 13,680 /t on June 5 to RMB 13,590/t on June 6 and for Jiangsu province it...
<p>As short-term volatility gripped commodity market, LME aluminium inched up from its early-month drop. The aluminium price on the global bourse stood at US$1,917.50 per tonne on Monday, June 5, up from US$1,916.50 per tonne on Friday, June 2. Shanghai Metals Market (SMM) forecast says LME aluminium will test support at US$1,900 per tonne and range between US$1,890-1,915 per tonne on Tuesday, June 6.</p> <p>The marginal price rise of LME aluminium can be partially attributed to the oil prices which recouped some of its previous losses on Monday. Overall US dollar sentiment also remains weaker.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluPriceJune6.jpg" alt="News" width="517" height="274" /></p> <p>As on June 5,...
<p>According to an SMM report, Shandong province, one of the major aluminium producing region in China, is going to restrict its new alumina and aluminium capacity. The province will encourage the development of aluminium processing industry instead.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/images.jpg" alt="news" width="376" height="250" /></p> <p>The province has an intention to keep capacity utilization rate in alumina and aluminium industries at above 80% before the end of 2020. Also, it aims to raise aluminium output/aluminium semis output ratio to 1:1.4. </p> <p>The new aluminium projects (including renovation projects and expansion projects) must come under capacity swap...
<p>LME aluminium is heading towards a volatile phase. With uncertainty brewing in the oil market due to souring political relationships among countries in the Middle East and North Africa (MENA), the light metal commodity is likely to experience a bumpy ride ahead. Saudi Arabia, Bahrain, Egypt and UAE announced to sever all kinds of diplomatic ties with Qatar on June 5, saying the nation supports terrorism. This should lead to transitory changes in the oil market dynamics which, in turn, may impact the commodity market.</p> <p>LME aluminium closed at US$1,916.50 per tonne on Friday, June 5, down from US$1,930 per tonne on Thursday, June 1. According to Shanghai Metals Market (SMM) forecast, LME aluminium will continue to struggle around the moving averages and trade between US$1,920-1,940...
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, announced the promotion of Boris Santosi to the Director of Global Export Markets.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://alcircle.com/uploads/images/Albas%20Director.jpg" alt="News" width="336" height="376" /></p> <p style="text-align: center;"> </p> <p>Boris joined Alba in 2011 to set-up the first overseas sales office in Switzerland from where he developed the European and Americas markets. He was promoted to Senior Manager Sales Europe in 2016.</p> <p>Speaking on this occasion, Alba’s Chief Executive Officer Tim Murray said:<br />“Boris has been a key player in the Marketing group for several years. I am confident that under his...
<p>After plunging to US$ <span>1,919.50</span> per tonne on Wednesday, May 31, LME aluminium gained a little to close at US$ 1,930 per tonne on Thursday, June 1. According to an SMM analysis, LME aluminium will continue struggling around moving averages and move between USD 1,920-1,940/t today. According to Reuter’s analysis, LME aluminium may retest a support at $1,909 per tonne, as it may have completed a bounce triggered by this barrier.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/lme2ndjune.jpg" alt="News" width="517" height="226" /></p> <p>As on June 1, LME official cash buyer price of aluminium stands at US$1,929 per tonne, cash seller & settlement price is US$1,930 per tonne, 3M buyer price...
<p>After closing down at US$ 1943.50 per tonne on Tuesday, May 30, LME aluminium plunged further to close at US$ 1,919.50 per tonne on Wednesday, May 31. According to an SMM analysis, LME aluminium will move between USD 1,920-1,940/mt today, with strong resistance at the 5-day and 10-day moving averages.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/lme1stjune.png" alt="News" width="517" height="226" /></p> <p>As on May 31, LME official cash buyer price of aluminium stands at US$1,919 per tonne, cash seller & settlement price is US$1,919.50 per tonne, 3M buyer price is US$1,918 per tonne, 3M seller price is US$1,919 per tonne, Dec1 buyer price is US$1,943 per tonne, and Dec1 seller price is US$1,948 per tonne. The current LME official Opening...
<p>Tiwai Point smelter at Bluff, owned by Rio Tinto’s New Zealand Aluminium Smelters (NZAS) has slashed its underlying profit by more than 50% to $25 million, partially due to higher transmission costs.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Tiwai_Point_Aluminium_Smelter.jpg" alt="News" width="517" height="226" /></p> <p>This latest step by Rio Tinto has reopened the concerns about the smelter’s future as the decision will be facing tough negotiations ahead between Meridian Energy, the Electricity Authority, and even the Government.</p> <p>Chief executive of NZAS, Gretta Stephens said despite a record production in 2016, the smelter's underlying profit declined to $25million in 2016 from $54million in...
<p>Hindalco reports record standalone/consolidated performance across all operation including aluminium segment for the fourth quarter and the year ended 31 March 2017. Hindalco reported 26% increase in March quarter net profit at INR 503 crore against INR 400 crore in Q4 2016, driven by better realisations. Revenue from operations was up 27% at INR 11,747 crore.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/hindalco1.jpg" alt="News" width="410" height="300" /> </p> <p>Consolidated revenue for FY2017 was up 7 per cent at INR 39,383 crore while net profit increased more than 50% to INR 1,557 crore. EBITDA for FY2017 stood at a record ?13,558 crore, up 36% compared to FY2016, supported by stable overall...
<p>After touching US$1,954 per tonne on Thursday May 25 and followed by a drop, LME aluminium hit a new high of USD 1,968/mt during the Dragon Boat Festival in China, but then tumbled to the 40-day moving average. LME aluminium plunged 1.2% low to close at US$ 1943.50 per tonne on Tuesday, May 30. According to an SMM analysis, LME aluminium should fall further to USD 1,918-1,940/mt today.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/lme31may.png" alt="News" width="517" height="226" /></p> <p>As on May 30, LME official cash buyer price of aluminium stands at US$1,943 per tonne, cash seller & settlement price is US$1,943.50 per tonne, 3M buyer price is US$1,943 per tonne, 3M seller price is US$1,943.50 per tonne,...
