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>A global aluminium producer has offered Japanese buyers a premium of $123 per tonne for July-September primary metal shipments, down 4 percent from the current quarter, four sources directly involved in pricing talks said on Monday.</p> <p>Another seller has sought premiums of $128 a tonne, flat to the price for shipments over April-June, the sources said.</p> <p>Japan is Asia's biggest aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region.</p> <p>Spot premiums have softened in Japan and the United States, although some Japanese buyers face lower inventories due to solid local demand for automobiles and cans.</p> <p></p> <p>For the April-June quarter, Japanese buyers...
<p>President Trump said in a Tweet that he was looking forward to the results of investigations into whether aluminium and steel imports were endangering national security. He also assured that the government would "take major action" if necessary.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminium%20middle%20East1.png" alt="News" width="517" height="226" /></p> <p>In April, Trump signed a memoranda officially directing Commerce Secretary Wilbur Ross to undertake the investigations in aluminium and steel. According to the president, maintenance of the United States steel and aluminium industries was important to U.S. security interests because both the materials are used in crucial infrastructure and defence...
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based aluminium smelter, announces that the optimization process of Line 6 Expansion Project has been concluded with the completion of the Front End Engineering Design (FEED) study in the first quarter of 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/alba%20smelter.jpg" alt="News" width="517" height="226" /></p> <p>The FEED Study was led by International Bechtel Co. Ltd. (Bechtel) which was appointed as the Engineering, Procurement, Construction and Management (EPCM) Contractor for Line 6 Expansion Project in mid-April 2016. The FEED study was conducted in Bahrain with the deployment of Bechtel’s core team and key personnel in Line 6 Project offices at the Alba...
<p>National Aluminium Company Limited (NALCO) announced on Saturday, 27 May, that the company registered a growth of 25.23 per cent with a net profit of INR 268 crore as against INR 214 crore during the corresponding quarter of the previous fiscal. The figure shows an 86 per cent jump over the net profit of INR 144 crore registered in the previous quarter.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/High-quality-Aluminum-Billet-6061-6063-Best.jpg" alt="news" width="448" height="263" /></p> <p>The company registered a net profit of INR 669 crore, compared to INR 787 crore achieved during the previous year and the gross turnover during 2016-17 has been INR 7,933 crore. The figure revealed that...
<p>After touching the highest for the month at US$1,954 per tonne on Thursday May 25, LME aluminium has plunged slightly low to close at US$1,950 per tonne on Friday, May 26. LME aluminium may rise during the Dragon Boat festival holiday, which will allow SHFE 1707 aluminium to rise as well after the holiday. According to Reuter analysis, LME aluminium continues to face a resistance at $1,962 per tonne, a break above which could lead to a gain to $1,969.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LME29MAY.png" alt="News" width="517" height="226" /></p> <p>As on May 26, LME official cash buyer price of aluminium stands at US$1,949 per tonne, cash seller & settlement price is US$1,950 per tonne, 3M buyer...
<p>Primary aluminium industry was abuzz with some good news this week. Aluminium prices on London Metal Exchange picked up on steady demand. A weak dollar and rising crude oil prices gave the light metal the much needed support to reverse its recent downtrend. LME aluminium which closed at US$1,943 per tonne on Monday, May 22, rose by 0.54 per cent to US$1,954 per tonne on May 25, Thursday. LME official aluminium stock came down from 1495350 tonnes on Monday to stand 1470550 tonnes on Thursday.</p> <p>In the <strong>U.S., primary aluminium production is up </strong>by 11 per cent to stand at 63,000 tonnes in March 2017, reported USGS in their latest Minerals Industry Survey. The production, however, is down by 19 per cent year-on-year, the data showed.</p> <p>The <strong>Aluminum...
<p>India aluminium prices on Multi Commodity Exchange rose by 0.24 per cent to INR 126.60 per kilogram during day trading hours on Friday, May 26 as demand picked up at the domestic spot market. Speculators in the futures trade also built up fresh positions leading to the price rise.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Indiaalu.jpg" alt="News" width="517" height="224" /></p> <p>MCX aluminium for May 2017 delivery was up by INR 0.30 or 0.24 per cent to INR 126.60 per kg in a total business turnover of 209 lots.</p> <p>MCX aluminium for June delivery also edged up by INR 0.25 or 0.20 per cent to INR 126.60 per kg in a business turnover of 53 lots.</p> <p></p> <p>Market watchers opine that fresh positions created...
<p>Brazilian metals and cement group Votorantim, formerly known as Votorantim Industrial has posted a net loss of reais 546million (US$166million) for Q1 2017, in comparison to 144million-real profit in Q1 2016.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Votorantim1.png" alt="News" width="517" height="226" /></p> <p>The loss was mostly driven by the sale of non-strategic cement assets and the capital increase in the long steel operations in Brazil. Adjusted EBITDA fell to 625million reais from 869million reais in the same quarter last year. The Ebitda margin also dropped to 11% from 14%.</p> <p>The value of goods sold also dropped 8% YOY to stand at 4.68bn reais, due to the 11% appreciation of the Brazilian real on...
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, has been taking solid steps with the progress of Line 6 Expansion Project, according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Board%20Meeting.jpg" alt="News" width="517" height="226" /></p> <p>The statement was made at the second quarterly meeting for this year, held on Thursday, 25 May 2017 at Alba.</p> <p>Adding further, Shaikh Daij said:</p> <p>“We are very pleased with securing the first tranche of Export Credit Agency (ECA), c. US$ 700 million, and we expect another US$300 - US$400M of ECA-covered...
<p>National Aluminium Company Limited (Nalco) yesterday signed a memorandum of understanding (MoU) with the Ministry of Mines, Govt. of India for setting higher targets in production, productivity, turnover and CAPEX for the FY 2017-18.</p> <p>According to a release, the MOU was signed between Arun Kumar, secretary, Ministry of Mines and Tapan Kumar Chand, Nalco's chairman & managing director. The MoU was formulated as per the new Department of Public Enterprise guidelines and finalized following discussions with both Inter-Ministerial Committee as well as Ministry of Mines.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/DSC_0343.jpg" alt="news" width="448" height="241" /></p>...
<p>LME aluminium is continuing its uptrend. The light metal after having risen for two days at a stretch rose for the third day gathering strength from the rising crude oil prices, which got a boost from the news on OPEC agreeing to extend oil cut agreement by 9 more moths. LME aluminium closed at US$1,954 per tonne on Thursday, May 25, up 0.51 per cent from its previous close of US$1,944 per tonne on Wednesday, May 24.</p> <p>Reuters’ technical analysis suggests that LME aluminium faces a resistance at US$1,962 per tonne. A break above this level could lead to a substantial gain to US$1,969 per tonne. </p> <p>According to Shanghai Metals Market (SMM) forecast, LME aluminium will further rise to US$1,950-1973 per tonne on Friday, May 26.</p> <p style="text-align: center;"><img...
<p>LME aluminium reversed the temporary drop and regained its upward momentum as the US dollar index weakened further after the release of not-so-inspiring Fed’s May policy meeting minutes. The light metal traded globally closed at US$1,944 per tonne on Wednesday, May 24, rising 0.93 per cent from its previous close of US$1,926 per tonne.</p> <p>Reuters’ technical analysis suggests that LME aluminium is biased to retest strong support at US$1940 per tonne. A break below the level can lead to a further loss to US$1,933 per tonne.</p> <p>According to Shanghai Metals Market (SMM) forecast, LME aluminium will rise to US$1,935-1960 per tonne on Thursday, May 25.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>According to the recently published USGS Mineral Industry Survey for Aluminium in March 2017, domestic primary aluminium production in March 2017 was 63,000 tons, up 11% in comparison to February 2017, but down 19% YOY and 56% less than the production in March 2015. The average daily production remains flat MoM in March at 2,030 tonne. The daily production rate dropped 19% YoY.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/USaluminium%20MARCH.png" alt="News" width="368" height="277" /></p> <p>The average U.S. market price of primary aluminium ingot and average cash price on the London Metal Exchange Ltd. (LME) in March 2017 stood at to $0.964 per pound and $0.862 per pound respectively, up 2% from those in February...
<p>Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, has been named aluminium company of the year at the Platts Global Metals awards. The awards ceremony took place in London and brought together the global metals industry. EGA was recognised as ‘Industry Leader – Aluminium’.</p> <p>Abdulla Kalban, Managing Director and Chief Executive Officer at EGA, said: “It is pleasing to be recognised by our peers in this way. This award is for each of our 7,000 people whose work over decades has made EGA the industry leader it is today.”</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"...
<p>The Aluminum Association released today three updated American National Standards (ANSI) H35 on Alloy and Temper Designation Systems and Dimensional Tolerances for Aluminum Mill Products. These new editions update previous versions last published in 2013.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminium%20billets.jpg" alt="News" width="517" height="226" /></p> <p>The Aluminum Association is the ANSI-accredited standards setting organization for aluminum produced in the United States. These documents provide the foundation for standards and registration systems used for aluminum alloys, tempers, unalloyed aluminum, and dimensional tolerances for aluminum mill products. The documents offer complete explanations of a variety of...
<p>After picking up pace on news that the OPEC countries may extend their oil output cut agreement, LME aluminium has plunged low on yesterday’s closing as a natural trend after testing resistance at around US$1,947 per tonne. LME aluminium plunged 0.87 per cent from its previous close of US$1,943 per tonne to close at US$1,926 per tonne on Tuesday, May 23. Shanghai Metals Market forecasts that the contract will trade in the range of US$1,935-1965 per tonne on Wednesday, May 24.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/lme%2024%20may.png" alt="News" width="517" height="226" /></p> <p>As on May 23, LME official cash buyer price of aluminium stands at US$1,925.50 per tonne, cash seller & settlement price is...
<p>The London listed Vedanta Resources plc yesterday announced the appointment of Mr Edward Story as a Non-Executive Director with effect from 1 June 2017. According to a release, Vedanta will also appoint him as a member of the Company's Audit Committee with effect from 1 June 2017.</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="336" /></p> <p>Mr Anil Agarwal, Chairman of Vedanta, said, "I am delighted to welcome Ed to our Board. His background and domain experience in the oil and gas industry will significantly enhance our ability to grow and develop Vedanta's oil and gas business.</p> <p>On behalf of the Board, I want to acknowledge Aman's...
<p>Saudi Arabian Mining Company Ma’aden signed two landmark Memorandums of Understanding (MOUs) with its U.S.-based partners Alcoa and Mosaic at the ongoing inaugural Saudi-U.S. CEO Forum that was launched in Riyadh on Saturday, May 20. The Memorandums are expected to provide fresh impetus to the Kingdom's mining sector which is identified to be a playing a crucial role in the economic diversification of the nation as outlined in Saudi Vision 2030.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rasalkhair.jpg" alt="News" width="517" height="344" /></p> <p>The first MOU outlines the scope of feasibility assessment of a potential expansion of aluminium production complex in Ras Al-Khair Industrial City, by Ma'aden...
