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 has picked up the pace. The light metal which was trending low a week ago has gained momentum on news that the OPEC countries may extend their oil output cut agreement. LME aluminium rose 0.25 per cent from its previous close of US$1938 per tonne to close at US$1,943 per tonne on Monday, May 22. Shanghai Metals Market forecasts that the contract will trade in the range of US$1,930-1950 per tonne on Tuesday, May 23.</p> <p>As per Reuters’ analysis, LME aluminium price is likely to drop to US$1,918 per tonne as it seems to have peaked around a resistance at US$1,947 per tonne.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluMay23.png" alt="News" width="517" height="279" /></p> <p>As on May 22,...
<p>Runaya Refining LLP, a new metal startup has signed a technology licensing pact with Taha International WLL, which owns the patent for aluminium dross processing. The startup would harness the cutting-edge technology of Taha International to convert waste aluminium into value-added products.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/alum_dross.jpg" alt="News" width="517" height="226" /></p> <p>The Agarwal sons — Naivedya and Annanya, whose father Navin Agarwal is the chairman of Vedanta Ltd, would lead the operations of the new startup. Runaya Metsource, the parent of Runaya Refining, is funded by the “principal shareholders’ of the Vedanta group - and is already termed as the fastest...
<p>LME aluminium ended last week on a high. The light metal traded globally jumped to US$1,938 per tonne on Friday, May 19, the highest in the month so far. The 1.73 per cent rise in LME aluminium price from the previous close of US$1,905 per tonne can be partly attributed to the weak US dollar index, which seems to have given up all its post-election gains lately. Shanghai Metals Market (SMM) prediction says the contract will face technical corrections on Monday, May 22 and range at US$1,885-1,930 per tonne.</p> <p>The weekly forecast says, LME aluminium will drop slightly this week with no stimulus from the new capacity cut programme.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluMay22.png" alt="News"...
<p>Press Metal Bhd, reported a 57% jump in both revenue and earnings in Q1 2017 driven by higher output coupled with improved metal prices. The company ramped up its aluminium smelting capacity in mid-2016 in order to increase its sales volume.</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>The country’s largest aluminium smelter announced earnings of RM148.05mil and revenue of RM2.02bil in Q1 2017 ended March 31. The quarterly earnings were higher than the company’s average annual earnings in last five years.</p> <p>In May 2016, Press Metal completed the production ramp-up of its Samalaju Phase 2 smelter in Sarawak, doubling its production...
<p>The latest data from Wold Bureau of Metal Statistics (WBMS) showed that the global primary aluminium market was in a deficit in the first quarter of the current calendar year. The deficit however, has narrowed down to 356,000 tonnes from a staggering 1.12 million tonnes in the entire 2016.</p> <p>The worldwide primary aluminium demand was up by 1.15 million tonnes from the corresponding period previous year to stand at 15.05 million tonnes during January-March 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminiumdemand.jpg" alt="News" width="517" height="290" /></p> <p>While this easing out of primary aluminium deficit by 764,000 tonnes (year-on-year) helps bring some relief for the global aluminium industry...
<p>LME aluminium gave up its recent gains and dropped to US$1,905 per tonne Thursday, May 18, from its previous peak at US$1,928 per tonne on May 17. The light metal traded globally finds a strong support at US$1,900 per tonne. Shanghai Metals Market (SMM) forecast says LME aluminium price will move at US$1,900-1,925 per tonne range on Friday, May 19.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluminiumMay19.png" alt="News" width="517" height="277" /></p> <p>As on May 18, LME official cash buyer price of aluminium stands at US$1,904 per tonne, cash seller & settlement price is US$1,905 per tonne, 3M buyer price is US$1,905 per tonne, 3M seller price is US$1,906 per tonne, Dec1 buyer price is US$1,938 per...
<p>The aluminium production process requires up to half a tonne of carbon for every tonne of metal produced. Specifically ‘petroleum coke’ or petcoke, a by-product of the oil refining process, is a significant fuel for the power generation and aluminium smelting industries along with the cement industries. Anode-grade petcoke, commonly defined as that with a sulfur content of less than three percent has solid demand in the aluminium industry.</p> <p>{newsStudioGallery}</p> <p>India has seven aluminium smelters with a total installed capacity of 2.6 million tpy operated by three aluminium producers National Aluminium Co. Ltd, Hindalco Industries Ltd and Vedanta Aluminium Ltd. India has an installed alumina capacity of 6.5.million tonnes and the reported production of...
<p>Automation solutions provider Siemens today said it has bagged a contract from Vedanta for providing digital fleet center solution to connect the latter's two power plants in India to the monitoring stations.</p> <p>Siemens will digitally link Vedanta's critical power units-Talwandi Sabo Power Plant (TSPL) in Punjab and Bharat Aluminium Company (BALCO)-to its monitoring station. "This connection will serve to analyse huge amounts of fleet data for continuous monitoring and diagnostics of these assets.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/477249-vedanta-reuters.jpg" alt="news" width="426" height="240" /></p> <p>This will enable proactive maintenance to help reduce unplanned outages,...
<p>LME aluminium is inching higher through at a ‘cautiously moderate’ pace. The light metal traded globally closed at US$1,928 per tonne on Wednesday, May 17, up 0.67 per cent from its previous close of US$1,915 per tonne on Tuesday, May 16. LME aluminium gathered support partly from the US Dollar Index that has been extending its losing streak to four consecutive seasons now. The greenback remains under pressure in today’s session (May 18).</p> <p>Shanghai Metals Market (SMM) analyses that LME aluminium will meet strong resistance at US$1,930 per tonne and move at US$1,917-1,935 per tonne on Thursday, May 18.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluminiumMay18.png" alt="News" width="517"...
<p>Russian tycoon Oleg Deripaska's En+, a company focused on energy and aluminium is expected to attract investors because of the growing global deficit in the aluminium market and improving outlook for Russian securities, as said by Chief Executive of the company Maxim Sokov to Reuters.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/engroup.jpg" alt="News" width="517" height="234" /></p> <p>The company is posing as a Russian aluminium and hydropower conglomerate equipped with lower-cost Siberian power, a blessing for energy-intensive aluminium smelting business.</p> <p>"We convert power into aluminium and sell it to the world. We believe the aluminium market has a significant upside," said Sokov. The company owns...
<p>China aluminium industry is on the verge of getting a widespread reshuffling in the second half of this year. After the three major aluminium producing regions of the country issued recent policy changes to crack down on illegal and outdated aluminium smelters, the government took the decision to implement such policies on a wider scale, with possible few more additions, reported local media.</p> <p>Governments of Xinjiang, Shandong, and Inner Mongolia have issues documents to shutdown illegal aluminium capacity in these regions.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/china.jpg" alt="News" width="517" height="343" /></p> <p>In another development, China announced a 'capacity swap' programme aimed at tackling...
<p>According to Trading Economics data, Mozambique’s exports surged 56.2 per cent since 2009 to reach a value of US$3.4 billion in 2016. The year-on-year export increased five percent in the previous year. Aluminium was the second highest commodity and the fastest-growing among the top 10 export categories to be shipped globally. The southeast African country exported aluminium worth US$889.3 million (up 26.5 per cent YoY) in 2016. The value is slightly lower than the estimated value of US$992.15 million for the same year, reveal international trade data.</p> <p>{newsStudioGallery}</p> <p>A glance at the three-year aluminium export trend from Mozambique would reveal a year-on-year rise in volume in 2016 from 2015. The country shipped 589188 tonnes of aluminium in 2015 which...
<p>LME aluminium finally broke the downtrend it was tracing of late by closing at US$1,899.50 per tonne on Monday, May 15. The light metal traded globally rose further by 0.8 per cent to close at US$1,915 per tonne on Tuesday, May 16. Reuters’ technical analysis suggested that LME aluminium may retrace to US$1,890 per tonne on failing to break a resistance at US$1,908 per tonne. However, Shanghai Metals Market says that the contract will hover in the range of US$1,910-1,930 per tonne on Wednesday, May 17.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluMay17.png" alt="News" width="517" height="277" /></p> <p>As on May 16, LME official cash buyer price of aluminium stands at US$1,914 per tonne, cash...
<p>The Aluminum Association, in cooperation with the Aluminium Association of Canada, reported that primary aluminium production in North America (U.S. and Canada) was at an annual rate of 3,965,579 tonnes during April 2017. This registers a drop of 11,897 tpy (-0.3%) from the March 2017 rate of 3,977,476 tonnes.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary%20production%20NA.png" alt="News" width="374" height="260" /></p> <p>The production rate in the U.S. decreased 1.3% m/m, while the Canadian rate was down slightly. On a year over year comparison, the North American annual rate was 1.1% below the April 2016 rate of 4,009,042 tonnes. Actual production through the first four months of...
<p>Alcoa, the world's fifth largest producer of aluminium, which split into two separate businesses, revitalized itself from the separations, CEO Roy C. Harvey told the shareholders at the David L. Lawrence Convention Center, Downtown. The company split into upstream Alcoa and downstream Arconic in November 2016.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/-1x-1.jpg" alt="news" width="448" height="313" /></p> <p>Mr. Harvey said, “It gave us an opportunity to rethink everything. We’re a start-up. We’re a brand new business.”</p> <p>The company is planning to consolidate its worldwide administrative locations, a strategy he believes would save money and aid...
<p>Vedanta Limited announced its audited consolidated results for the fourth quarter (Q4) and full year ended 31 March 2017 (FY 2017) on Monday May 16. The results report record annual production at Aluminium, Power, Zinc India (Zinc and Silver) and at Copper-India and improved revenue and EBITDA QoQ and YoY.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/vedanta-.jpg" alt="News" width="517" height="226" /></p> <p>Commenting on the results, Navin Agarwal, Chairman Vedanta Limited, said, "The completion of the Cairn India merger transforms Vedanta Ltd. into a diversified natural resources powerhouse, anchored in India. The combined entity truly reflects our strong, diversified,...
<p>LME aluminium finally broke above the resistance zone of US$1,890-1,892 per tonne and closed higher at US$1,899.50 per tonne after night trading on Monday, May 15. Shanghai Metals Market forecasts that the light metal traded globally will keep moving in the range of US$1,890-1,914 per tonne on Tuesday, May 16.</p> <p>Reuters’ technical analyses show that there is a support below at US$1,880, a break below which could cause a loss in the range of US$1,862.50-1,871 per tonne; but macroeconomic indicators suggest the fall in that range is unlikely in the immediate short-term.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluminiumMay16.png" alt="News" width="517" height="275" /></p> <p>As on May 15, LME...
<p>According to a media report from Odisha, National Aluminium Company (Nalco) has feared scarcity of pitch and coke, two essential raw materials of aluminium smelting in last fifteen days may affect production in the coming days.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/nalco1.jpg" alt="News" width="517" height="226" /></p> <p>According to reports, the plant’s store doesn’t have enough inventories to compensate the falling supply of these two essential materials and run the unit smoothly. The plant has been operating with two to three tankers of pitch per day during the last fortnight in place of 10 tanker-loads of pitch a day. The supply of coke has also been affected in the...
