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>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based aluminium smelter, is participating in the Commodity Research Unit (CRU)’s 22nd World Aluminium Conference in London.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/albbbba_1.jpg" alt="news" width="360" height="220" /></p> <p>"CRU’s World Aluminium Conference is a well-known event that brings key decision makers from around the world on a single platform," Alba’s Chief Executive Officer Tim Murray said.</p> <p> "This event allows aluminium producers in the Middle East to highlight the potential for their growth all the while presenting opportunities to learn of the latest technologies and innovations. Every year, Alba...
<p>Global market analysis and investment banking firms seem to be somewhat divided over aluminium price outlook for 2017. While Goldman Sachs in its recent study put average aluminium price at US$2,000 per tonne (for coming six months) and US$2,100 per tonne (for twelve months), CRU stated that it expected the lightmetal to trade lower over the medium term.</p> <p>Goldman Sachs based his price forecast on China’s current aluminium industry scenario, where the regional governments have become proactive in cracking down illegal smelting capacities. Already 2 million tonnes of aluminium capacity have been ordered to close. More such orders are awaited by the aluminium smelters operating in Shandong and other regions in China. The global investment banking firm believes these smelter...
<p>The downtrend in LME aluminium prices seem to be continuing in the foreseeable future. The light metal traded globally retraced US$1,909 per tonne on Thursday, May 4, down 0.3 per cent from the previous day’s close of US$1,916 per tonne. Reuters’ analysis suggests LME aluminium may retest a support at US$1,900 per tonne, a break below which could cause a loss to the next support at US$1,889.</p> <p>According to Shanghai Metals Market (SMM) forecast, LME aluminium should test support at the 60-day moving average and move at US$1,900-1,925 per tonne on Friday, May 5, weighed upon by the weakness in other base metal markets.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Demolition of the aluminium smelter infrastructure at Hydro's Kurri Kurri site is expected to begin in May. The Norway based aluminium producer announced that they have got on board CMA Contracting to demolish the smelter that will initiate the two-to-three-year project of redevelopment of the site.</p> <p>Hydro's Kurri Kurri aluminium smelter started production in 1969 and went offline in September 2012. The smelter now remains formally closed. Since the closure, Hydro has been planning to demolish, remediate and redevelop the site – a project which is now finally underway.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/HydroKurri.png" alt="News" width="517" height="290" /></p> <p>The...
<p>According to a report by Reuters, the representatives of the U.S. aluminium industry are urging their EU counterparts to take action against “massive illegal subsidies" in China. The industry also wrote to British Prime Minister Theresa May regarding this matter. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/download.jpg" alt="news" width="517" height="226" /></p> <p>During a news conference in London, Michael Bless, CEO of Century Aluminium Company said, "The WTO and U.S. and European leaders must act quickly to ensure a fair playing field."</p> <p>China has been accused by Trade lawyers and some governments for violating the rules of the World Trade Organization (WTO).</p>...
<p>LME aluminium prices have finally gained some strength after falling for four days at a stretch. The light metal traded globally closed at US$1,916 per tonne on Wednesday, May 3, up 0.36 per cent from its previous close of US$1,909 per tonne on Tuesday, May 2. Shanghai Metals Market (SMM) analysis suggests LME aluminium should challenge the 20-day moving average and escalate to the US$1,915-1,940 per tonne range on Thursday, May 4, fuelled by rumour that environmental protection authority will crackdown on illegal aluminium capacity in Shandong, China.</p> <p>Coming to a longer-term forecast, Macquarie has raised its 2017 average aluminium price forecast by eight per cent from US$1,769 per tonne to US$1,913 per tonne.</p> <p><img style="vertical-align: middle; display: block;...
<p>The Chelan County Public Utility District Board of Commissioners is negotiating with Alcoa Corporation in anticipation of reviving a smelter and hundreds of well –paid manufacturing jobs. Commissioners voted in favour of postponing a charge against Alcoa for idling the Colombia River smelter near Wenatchee at the beginning of 2016.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/columbia%20smelter.jpg" alt="News" width="517" height="226" /></p> <p>Alcoa has many years left on a long-term contract to buy electricity from the Chelan County utility and the power contract contains both benefits and disadvantages for Alcoa to keep its energy-intensive aluminium smelter and its jobs running....
<p>The recent slump in alumina prices in China has seen aluminium producers from the country making reasonably high profits. Of late, the profit margins have been improving steadily, Shanghai Metals Market found in a survey.</p> <p>The average profit registered by the Chinese aluminium smelters stands at around 1,400 yuan per tonne. This reflects a healthy market scenario given the fact that the aluminium prices, both in the London Metal Exchange market Shanghai market, and are trending at lows.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/chinese-aluminium-plants.jpg" alt="News" width="517" height="342" /></p> <p>In the week ending April 30, SMM average spot aluminium price stood at 14,106...
<p>LME aluminium prices are in retreat due to the supply side reforms initiated in China. Though Goldman Sachs holds a better price outlook for the light metal in the coming months (US$2,100 in 12 months), the recent price drop seems to be taking the sheen off the light metal to a certain extent. LME aluminium, which ended at US$US$1,930 per tonne last week Friday, closed further down at US$1,909 per tonne on Tuesday, May 2.</p> <p>Reuters’ technical analysis suggests that LME aluminium may revisit its May 2 low of US$1,904 per tonne, following its failure to break a resistance at US$1,931. According to Shanghai Metals Market (SMM), LME aluminium should move between US$1,910-1,940 per tonne on Wednesday, May 3, with strong resistance at the 5-day, 10-day and 20-day moving averages...
<p>Aluminium has emerged as the best performing industrial metal of 2017, as growing confidence that China will take steps to end a supply glut pushes prices to the highest level in almost three years.</p> <p>The industrial metal, which is used in everything from drinks cans to cars to girders for construction, has climbed close to 15 per cent this year outpacing the 2.7 per cent increase for zinc and 3.1 per cent advance for copper. Aluminium for delivery in three months is currently trading at $1,933 a tonne.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium-Ingots-.jpg" alt="News" width="500" height="335" /></p> <p>Since the financial crisis, a glut of supply has cast a shadow on the...
<p>LME aluminium ended last week in a drop. The light metal contract traded globally registered a drop of 1.25 per cent from its previous close to end at US$1,930 per tonne on Friday, April 28. Yesterday being the Early May Bank Holiday at the London Metal Exchange, trading will resume today. Shanghai Metals Market (SMM) predicts LME aluminium should move at the range of US$1,908-1,935 per tonne on Tuesday, May 2. It is likely to hover around the 40-day moving average.</p> <p>As per Reuters' analysis, LME aluminium may retest a support at US$1,908 per tonne, probably after a further bounce into the range of US$1,931-$1,941. "The metal has briefly pieced above US$1,921. It has a better chance of extending to US$1,931, or to US$1,941, Retuters observes.</p> <p><img style="vertical-align:...
<p>LME aluminium registered a sharp drop on Friday, April 28, defying a section of analysts’ outlook that indicated at a buoyant ending for the light metal last week. The contract closed at US$1,930 per tonne after Friday night trading, down 1.25 per cent from the previous day’s close of US$1,954.50 per tonne. The decline in LME aluminium prices was registered even though the US dollar index closed lower on Friday- the third weekly drop in a row.</p> <p>Trend analysis suggests that the LME aluminium will continue trading at lows on Monday, May 1, and may regain some strength as the week advances.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LMEaluminium.jpg" alt="News" width="517"...
<p>The month of May is awaiting the aluminium industry players with a few mega events that open up significant business opportunities between the West and the East. The month’s events mainly focus on the upstream industry covering smelting, primary aluminium and a few events from the semi-finished and finished sector. The chief among the events are<strong> CRU World Aluminium Conference </strong>and<strong> ALUMINIUM MIDDLE EAST, Dubai </strong>that bring together the global aluminium industry under one roof. Have a quick look at the top aluminium events in May and plan your visit accordingly. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>The US President Donald Trump yesterday signed an executive order for investigating the impact of aluminium imports on U.S. national security as it considerably used in defence industry manufacturing. He asked Commerce Secretary Wilbur Ross to inspect the matter.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Pani%20per%20sito.JPG" alt="news" width="517" height="226" /></p> <p>Trump said: “The American aluminium industry has been severely damaged by unfair foreign trade. Cheap subsidised foreign imports have flooded into the market, destroying thousands of great American jobs, jobs that are no longer.”</p> <p> “Today I’m calling on Secretary Ross to prioritise...
<p>Norsk Hydro reports positive first quarter 2017 results driven by higher realized all-in metal and alumina prices that was slightly offset by higher raw material costs. </p> <p>Hydro reports underlying EBITD of to NOK 2,284 million in comparison to NOK 1,829 million in the fourth quarter 2016. Underlying EBIT for Primary Metal increased in the first quarter due to higher realized all-in metal prices and higher volumes. This was partially offset by significantly higher alumina costs.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/HYDRO%20Q1.jpg" alt="News" width="517" height="226" /></p> <p>Underlying EBIT for Metal Markets declined in Q1 2017 due to lower results from sourcing and...
<p>The World Bank has hiked its yearly forecast for base metals prices. It expects the base metals prices to log a 16 per cent annual growth rate, compared to the 11 per cent expected in January this year. Strong demand for the metals in China alongside higher disruption rate at mines in Chile, Indonesia and Peru is expected to precipitate the supply tightness.</p> <p>The price rise in LME aluminium came to an early halt yesterday as the light metal after rising for two consecutive days closed at US$1,954.50 per tonne on Thursday, April 27. Reuters’ analysis says LME aluminium may retest a support at US$1,921 per tonne, a break below which could cause a further loss into the range of US$1,900-US$1,908.</p> <p>According to Shanghai Metals Market (SMM) forecast, LME aluminium is...
<p>Century Aluminum Company has announced its first quarter 2017 results. The company reported a net loss of $15.1 million for Q4 2016 in comparison to the net loss of $168.5 million in Q4 2016. Adjusted net loss amounted to $5.0 million compared to an adjusted net loss of $11.5 million for Q4 2016. Results were impacted by a $14.0 million unrealized loss relating to LME forward sales. Sequentially, the results record substantial improvement, though the company continues making losses.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/century%20aluminium.jpg" alt="News" width="517" height="226" /></p> <p>The reported adjusted EBITDAof $22.2 million was up $10.3 million sequentially on...
<p>The U.S. Commerce Department yesterday launched a probe into aluminium imports as it might be affecting U.S. national security. The investigation is alike to the one that was launched by the administration last week into steel.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/us-aluminum-sector-says-chinese-firm-evading-import-duties.jpg" alt="news" width="517" height="226" /></p> <p>Commerce Secretary Wilbur Ross said that “Imports have been flooding into the aluminium industry”. The aluminium imports had mounted 16 per cent in 2016. The production of aluminium in the country had dropped though.</p> <p>He stated: "China subsidies have created overcapacity. At the very same...
