Bell Bay Aluminium (BBA), Australia's oldest aluminium smelter, is reviewing its workforce and offering redundancies for a small number of positions, just over a month after receiving an AUD 200 million (USD 137.52 million) government support package aimed at securing the facility's future until at least 2031. Up to 10 roles are understood to have been affected by the review, although the smelter is expected to retain its existing workforce of approximately 550 full-time equivalent (FTE) employees. Some redeployment opportunities will also be available, while the positions identified are not understood to involve frontline services. The changes reportedly include some former participants in Bell Bay Aluminium's graduate programme. Rio Tinto, which operates the smelter near George Town in...
South32 expects the sale of its aluminium value chain assets to Alcoa to be completed in the six months ending June 2027. The proposed transaction covers its aluminium operations and related bauxite and alumina assets in South Africa, Australia and Brazil. The sale follows a binding conditional agreement signed by the two companies, under which Alcoa agreed to acquire the assets for up to USD 5.6 billion . The assets include South32's Hillside Aluminium smelter and the idled Bayside smelter in South Africa, its interests in the Boddington bauxite mine and Worsley alumina refinery in Australia, and the Mineração Rio do Norte bauxite mine and Alumar alumina refinery and aluminium smelter in Brazil. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
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An important part of the dramatic shift in global aluminium supply seen this century is the decline of primary production in the USA. While production in the Middle East has jumped from 0.9 million tonnes (Mt) in 1999 to an expected 5.7Mt this year, and Chinese primary production has skyrocketed from 2.6Mt in 1999 to reach 31.2Mt in 2015, production in the USA has fallen from 3.8Mt in 1999 to an expected 0.7Mt this year. Analysts opine this major decline will likely have consequences over the long term. According to them, the sources of this decline in US production are: • The Pacific Northwest (PNW) energy crisis in the early 2000s, • Low aluminium ingot price, and • Loss of competitive position in the global industry. Aluminium prices have been falling in real (inflation-adjusted) terms...
Aluminium stocks continued falling significantly in China’s five major markets, SMM says. More ingots flowed to central and southwest China from northwest China. Smelters in northwest China increased shipment of aluminium liquid, also reducing the amount of ingots available for sale. It will take about six weeks for aluminium stocks in China’s five major markets to fall to 400,000-500,000 tonnes at current destocking pace, SMM expects. The table below shows details of aluminium stocks at China’s five major markets:
SHFE 1606 aluminium will get off to a good start after three-day holiday and move at RMB 11,860-11,960/mt on Tuesday. LME aluminium will follow SHFE aluminium up to USD 1,535-1,550/mt. In China’s spot aluminium market, spot discounts of RMB 0-20/mt and spot premiums of RMB 0-20/mt are expected over SHFE 1604 aluminium contract.
Norsk Hydro has announced that the company's first quarter results 2016 will be released at 07:00 CET (01:00 AM EST, 06:00 UK time), on Wednesday April 27, 2016. The quarterly report and presentation slides will be available on Hydro's website at the same time. Hydro will host a combined analyst and press conference, in English, at its corporate headquarters at Drammensveien 260, Oslo at 08:30 CET the same day. The presentation will be held by President and CEO Svein Richard Brandtzæg and CFO Eivind Kallevik. There will be a Conference Call at 15:00 UK Time (16:00 CET, 10:00 AM EST,) the same day. The Q&A will be held by President and CEO Svein Richard Brandtzæg and CFO Eivind Kallevik. The Q&A will be available for two months on Hydo's website, notified the Norwegian aluminium...
Global lightweight metals major Alcoa has announced that the company will hold a conference call on Monday, April 11 beginning at 5:00 p.m. EDT to discuss first quarter 2016 results and business developments. The conference call will be webcast live via Alcoa's website with presentation materials available online at 4:15 p.m. EDT. Conference Call Information: Time: 5:00 – 6:00 p.m. EDT Hosts: Klaus Kleinfeld, Chairman and Chief Executive Officer William Oplinger, Executive Vice President and Chief Financial Officer A replay of the call will be available on Alcoa's website from 8:15 p.m. EDT on April 11 until April 25 at 11:59 p.m. EDT.
Aluminium has hit its highest in nearly three weeks after data showed that China's factory sector grew for the first time in nine months, but other metals faltered after US jobs data raised the prospect of further interest rates increases. US employment increased solidly in March and wages rebounded, weighing on other base metals such as copper, which briefly touched a four-week low. While some analysts said the Federal Reserve would remain cautious about raising rates due to slowing global growth, others said the upbeat data made rate increases more likely. "I think the strength of payrolls suggest the Fed will undoubtedly raise rates this year, likely in June," David Carter, chief investment officer at Lenox Wealth Advisors in New York, said. Aluminium prices gained after the official...
Aluminium will continue to outperform other base metals this week on positive market fundamentals, SMM forecasts. Aluminium stocks kept falling in China’s major markets. China will see limited new capacity and restarted capacity for the foreseeable future. So, market supply will remain tight. SMM sees SHFE 1606 aluminium rising further to head for 12,000 yuan per tonne. US Fed Chairwoman Janet Yellen’s dovish remarks will continue keeping the US dollar index in check. When combined with strong SHFE aluminium, LME aluminium is poised to advance to $ 1,490-1,530 per tonne. In China’s spot market, tight supply and stable downstream consumption will allow spot aluminium to trade at premiums over SHFE 1604 aluminium.
The largest primary aluminium producer in the region and among the top five producers in the world, Emirates Global Aluminium ("EGA") has for more than 25 years implemented advanced technologies - many developed in-house - to improve productivity and enhance operational procedures at its operations, while maintaining the highest standards of environmental conservation. As part of its mandate to drive an ongoing quest for innovation-based improvements, the dedicated Technology Development & Transfer department at EGA continuously forges ahead in identifying and implementing technological advancements for the benefit of the aluminium industry. A case in point is the successful filing of an application in September 2015 to patent the development of hinged grating for easy access to the outer...
The newly elected body of Aluminium Association of India (AAI) met Union Minister of Steel and Mines Narendra Singh Tomar on Tuesday in New Delhi to put forth its plans and press for business safeguards. In the meeting, members of the body expressed concern over extreme sluggish domestic and international aluminium market conditions and requested for Government interventions to revive aluminium sector in the country. President of AAI Tapan Kumar Chand emphasised that promotion of aluminium consumption will give a big boost to ‘Make in India’ movement. He informed that the International Aluminium Conference-2017 will be held in Bhubaneswar in February where all world leaders of aluminium industry will participate.
China’s aluminium futures rose to their highest level in half a year on Monday, March 28, thanks to an increase in seasonal demand, and lowered domestic output due to capacity cuts made late last year. Stocks of aluminium ingots at major warehouses across China dropped from 937,000 metric tons last week to 870,000 metric tons this week. Jackie Wang, analyst at CRU Group in Beijing, says this is indicative of an uptick in demand. “We do not expect to see a sharp increase in production through the second quarter because we haven’t seen any significant restarts among aluminium smelters up to now,” explained Wang. Shanghai Futures Exchange’s most-traded May aluminium contract jumped to CN¥11,830 yuan (US$1,816) a metric ton on Monday, the highest it’s been since September 25. Wang predicted...
As many as 46 industries who signed MoUs with the Odisha government have invested INR 2.53 lakh crore so far in the state, the assembly was told on Thursday. "Ninety-two have inked MoUs with the state government to set up their industries with an investment of INR 5.68 lakh crore. Of the 92 projects, 46 have commenced partial or full-scale production with an investment of INR 2.53 lakh crore," said Industry Minister Debi Prasad Mishra. The 46 industries have generated employment for 152,398 people, he added. Mishra informed that while the state government has signed MoUs with 48 steel companies, 40 companies have started production with an investment over INR 1.2 lakh crore. In the aluminium sector, Vedanta has started partial production from its alumina refinery at Lanjigarh and...
Most aluminium smelters in Hubei province have shut down against losses from falling aluminium prices, leaving just two smelters still running at present, revealed latest industry reports. The province eliminated 127,000-tpy aluminium capacity during the 12th Five-Year Plan period (2011-2015), beating 100,000-tpy target set by the central government. Hubei Qili Huasheng Aluminum and Hanjiang Danjiangkou Aluminum are the only two remaining smelters, with their annual capacity totals 140,000 tonnes, down 65 per cent from 2010, the report added.
SHFE 1605 aluminium proved resistant to declines and is expected to move at RMB 11,700-11,800/mt on Thursday. LME aluminium will range USD 1,488-1,510/mt, with support at the 5-day moving average. In China’s spot aluminium market, spot discounts of RMB 0-40/mt are expected over SHFE 1604 aluminium contract.
CME Group, the world's leading and most diverse derivatives marketplace, today announced that the first Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts were traded on Thursday, March 24, 2016. A total of 96 futures contracts were traded, equalling 2,400 metric tons. "We are pleased to see early support for our Aluminium European Premium Duty-Paid (Metal Bulletin) contract," said Young-Jin Chang, CME Group Executive Director of Metals Products. "Our new Aluminium European Premium Duty-Paid contract responds to commercial customer demands for a solution to manage their premium price risk and complements our existing suite of aluminium risk management tools." "The European Premium Duty-Paid contract was the missing building block in the Premium markets," said Samuel...
Aluminium futures traded 0.41 per cent higher at INR 99.15 per kg, largely in tandem with a firming trend in base metals at the London Metal Exchange (LME). Besides, increased demand at domestic spot markets influenced prices. At Multi Commodity Exchange, aluminium for delivery in current month rose 40 paise, or 0.41 per cent, to INR 99.15 per kg in a business turnover of 145 lots. Metal for delivery in April month contracts was trading higher by 40 paise, or 0.40 per cent at INR 100.80 per kg in 7 lots. Analysts attributed the rise in aluminium prices at futures trade to a firming trend at the LME after the Easter holiday as US home sales climbed, boosting demand prospects, and a weaker dollar made commodities cheaper in other currencies. Globally, aluminium gained 1.9 per cent to $1,504...
Aluminium prices on Multi Commodty Exchange strengthened by INR 2 per kg at the non-ferrous market today largely on a firming global trend. Traders said sentiment in aluminium remained firm as its prices firmed up in global markets after the Easter holiday as the US home sales climbed, boosting demand prospects, and a weaker dollar made commodities cheaper in other currencies. Globally, aluminium gained 1.9 per cent to USD 1,504 per tonne. In the national capital, aluminium ingots, sheet cutting, wire scrap and utensil scrap gained INR 2 each to INR 154, INR 150, INR 150 and INR 148 per kg, respectively. Following are today's metal rates (in INR per kg): • Aluminium ingots INR 154 • Aluminium sheet cutting INR 150 • Aluminium wire scrap INR 150 • Aluminium utensils scrap INR 148
The AluSolutions conference will provide a platform to discuss the sustainability challenges faced when manufacturing and processing aluminium, as well as a look at the environmental benefits of end-use aluminium products. The conference will be held on 10th – 11th May 2016 at the Abu Dhabi National Exhibition Centre, UAE. The opening session at 10.30am on Day One (10th May) will feature presentations from Emirates Global Aluminium (EGA), Gulf Extrusions, Emirates Environmental Group and the Bureau of Middle East Recycling. Other sessions on Day One will look at sustainable smelting technology, downstream development and recycling & sorting. Day Two (11th May) will host Dr Fiona Solomon, Aluminium Stewardship Initiative (ASI) Director, as keynote speaker. As members of the ASI, Rio Tinto,...
Aluminium major, Alcoa has permanently closed its aluminium smelter at Warrick County, along the Ohio river in Indiana. The company had earlier announced that it would close the smelter operations by end-March this year. The company was forced to shut operations at the 56 year old smelter due to drastic drop in aluminium prices, which made it financially unviable for them to run the smelter operations. According to the company, almost 325 out of the 600 people who worked at the smelter would be laid off. The remaining 275 employees have either expressed their willingness to accept severance or retirement packages or have already found new jobs. Meantime, operations will continue uninterrupted at the plant’s rolling mill and power plant which employs nearly 1,200 people. Alexander Alford,...
