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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Shandong, among China’s top three aluminium producing provinces, will get tougher on weeding out excess aluminium capacity this year, reveals latest industry reports. “New aluminium projects shall not be approved unless being swapped with aluminium elimination projects of larger scale. Aluminium projects under construction that violate regulations shall be properly handled, while existing aluminium projects that violate regulations shall be ordered to shut down for correction,” Qian Huantao, director of Shandong Economic & Information Commission, was quoted as saying in an interview. The provincial government will make plans for elimination of outdated aluminium capacity. Those companies that fail to meet entrance requirement shall be subject to differential and punitive power tariffs, as...
Aluminium prices were up by 0.10 per cent to INR 98.85 per kg in futures trade as traders enlarged positions, driven by pick up in demand at the spot market amid firm Asian cues. At the Multi Commodity Exchange, aluminium for delivery in March moved up by 10 paise, or 0.10 per cent, to INR 98.85 per kg, in a business turnover of 56 lots. Likewise, the metal for delivery in April edged up by five paise, or 0.05 per cent, to INR 100.10 per kg in 16 lots. Analysts said increasing of positions by participants due to pick up in demand from consuming industries at domestic spot markets and a firm trend in Asian trade mainly led to the rise in aluminium prices at futures trade. At Shanghai Futures Exchange, aluminum gained 1.1 per cent to trade at six month highs of 11,870 yuan ($1,818) a tonne...
Aluminium stocks in China’s five major markets grew steadily after the Chinese Lunar New Year holiday, and reached 928,000 tonnes as of March 15. Could this figure mark the peak for first half of this year? The answer is yes, says SMM aluminium analyst Liu Xiaolei. In fact, the turning point has already emerged, with stocks down to 913,000 tonnes as of March 17, and stocks have been falling ever since. Higher costs from rising alumina and coal prices will deter massive capacity restarts. And tight bank lending will also curtail release of new capacity, Liu explained. In conclusion, SMM sees capacity restarts and new capacity release not enough to fill in supply gap from previous production cuts.
About 43 per cent of the 42 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1605 aluminium rising above RMB 11,800/mt and LME aluminium advancing above USD 1,500/mt, citing positive factors. First, many Chinese aluminium smelters have no plans to restart idled capacity or put new capacity online, so supply will remain tight for the foreseeable future. Second, aluminium stocks in China’s five major markets kept falling, allowing spot discounts to narrow to less than RMB 50/mt. Third, downstream consumption recovered and operating rates at processors are better than the same period last year. Fourth, technical side is positive for SHFE aluminium . Another 52 per cent see SHFE 1605 aluminium stabilizing at RMB 11,600-11,750/mt...
National Aluminium Company Limited (NALCO) had been allotted Utkal-D & E coal blocks, near the company's Captive Power Plant in Angul district of Odisha. The allotment agreement for these blocks having a reserve of more than 200 million tonnes of coal was signed between the Centre and NALCO in New Delhi on Tuesday, last week. Terming it as a Holi gift, NALCO CMD T K Chand thanked the Union Government and congratulated all the employees as well as the stakeholders. "The company's smooth operation and expansion plans hinged on the allocation of these blocks. With this, NALCO s captive resources have been enriched, which will see the company through the next three decades and more," said Chand. Vivek Bharadwaj, Nominated Authority, on behalf of Government of India and D Manjit, GM (Coal...
Aluminium prices at Multi Commodity Exchange (MCX) Mumbai, advanced by INR 2 per kg at the non-ferrous market on March 26, Saturday, largely due to pick-up in demand from consuming industries. However, other base metals held steady in thin trade. Traders said increased demand from consuming industries and reports of a firm trend in its prices in Asian region kept aluminium prices higher. In the national capital, aluminium ingots, sheet cutting, wire scrap and utensil scrap added another INR 2 each to INR 150, INR 146, INR 146 and INR 144 per kg respectively. Following were the rates of aluminium and aluminium products (in INR per kg) on March 26: • Aluminium ingots INR 150 • Aluminium sheet cutting INR 146 • Aluminium wire scrap INR 146 • Aluminium utensils scrap INR 144
Aluminium increased for a third day to the highest level in six months as metals advanced in Shanghai after a report that industrial profits increased in China, ending a seven-month losing streak. The London Metal Exchange was closed for a public holiday. The metal used in everything from beverage cans to window frames added as much as 1.1 per cent to 11,830 yuan ($1,818) a metric ton, the highest since September 25, before trading at 11,810 by 11:29 a.m. local time. Futures in Shanghai have rallied about 22 per cent from their record low on November 24 as China’s biggest smelters vowed to curb capacity and output fell 7.7 per cent from a year earlier in the first two months of 2016. Other non-ferrous metals declined last week, as commodities were hurt by a stronger dollar. Industrial...
Aditya Birla Group’s Odisha based Aditya Aluminium at Lapanga in Sambalpur district has announced having achieved its full capacity utilisation. Start up of the 360th Pot of Potline was done on Friday, thereby completing the commissioning phase, a company statement said on Saturday. Aditya Aluminium is a smelter-power plant complex at Lapanga with 360,000 tonnes smelter supported by a 6 x 150 MW coal based captive power. On this occasion a function was held in the plant premises where senior officials from the company’s management and a large number of employees were present. The MoU with Odisha government for Aditya Aluminium was signed in 2005 and the MoEF clearance was obtained in 2006. The first concrete was laid in February, 2011 after getting 2nd stage forest clearance from MoEF...
India's state-owned aluminium producer National Aluminium Co (Nalco) has zeroed in on three locations in the Arabian Gulf - Iran, Oman and Qatar - to set up a nearly US$2bn smelter unit. Iran is the frontrunner to host the new facility. Nalco has been on the look out for a location abroad to build the 500,000 metric tonnes-per-year aluminium smelter. The company also considered potential sites in South East Asia and the UAE, in addition to Iran and Oman. According to latest available reports, Nalco is in advanced stages of discussions to explore the possibility of setting up the smelter in Iran. The company will also visit Oman and Qatar to work out the best place to set up the project. Low power and infrastructure costs are among the key considerations of Bhubaneswar, Odisha-based Nalco,...
The total consumption of aluminium in India is going to experience a major leap in the foreseeable future reaching 20 million tonnes (mt) from the present 2mt, claims Vedanta Resources Chairman Anil Agarwal. According to Mr. Agarwal, “It (India’s aluminium consumption) is going to be 20 mt. Large industries will move to aluminium products. Railways, construction, aerospace, automobiles will contribute to higher growth of the metal.” At a recently held CII event in New Delhi, he said aluminium as a light metal has immense potential of becoming the mainstay of industries in future and setting up a small and medium enterprise (SME) in the sector would require an investment between INR 25-500 crore. On being asked about credit related issues SMEs face in India, Mr. Agarwal said: “It is a myth...
LME aluminium is expected to test a support at $1,470 per tonne, with a good chance of breaking below this level and falling more towards $1,449. The support is identified as the 86.4 per cent Fibonacci retracement on the rise from the January 12 low of $1,449 to the March 7 high of $1,605, blocking the way towards $1,449. Labelled B, the third wave of a three-wave cycle from the November 23, 2015 low of $1,432.50 has ended at $1,449. Wave theory suggests that this low may be approached. Resistance is at $1,486, the 76.4 per cent level, a break above which may open the way towards the 61.8 per cent level at $1,509.
Aluminium in China traded at the highest level in five months after China Premier Li Keqiang said the world’s second-largest economy is showing signs of stabilizing, bolstering the outlook for demand for metals. Aluminium rose as much as 1.3 per cent to 11,670 yuan ($1,789.71) a metric ton on the Shanghai Futures Exchange, the highest intraday level since October 12, and traded at 11,645 yuan at 9:51 a.m. • The London Metal Exchange is closed for a public holiday. • China’s economy has gotten off to a “good and stable” start this year and the government’s low debt levels give policy makers the tools to ensure growth in the range of 6.5 per cent to 7 per cent, Li said at the Boao Forum on Thursday.
JPMorgan Chase has quietly reduced its multibillion-dollar stockpile of aluminium as the London Metal Exchange moves to introduce new rules on the reporting of outsized positions. Until last week, one party - identified as JPMorgan by traders, brokers and warehouse owners - was holding more than half of the 2.8 million tonnes of aluminium in the LME system. The size of that position has now fallen to between 30 and 40 per cent as of March 23, according to exchange data. The bank’s holding, which at its height could have covered 40 years of Coca-Cola’s UK drinks can demand, has been the source of much disquiet in London’s tight-knit metal market. The position, which is not against LME rules, has been blamed by some brokers for pushing up the price of near-term contracts, even though the...
Aluminium prices were down 0.10 per cent to INR 101.95 per kg in futures trade as investors reduced exposure amid weak global cues. Besides, sluggish demand in the domestic spot markets weighed on the metal's prices. At the Multi Commodity Exchange, aluminium for delivery in April eased 0.10 per cent to INR 100.95 per kg in a business turnover of seven lots. Similarly, the metal for delivery this month traded lower by 0.05 per cent, to INR 99.20 per kg in 113 lots. Marketmen said the weakness in aluminium in futures trade was mostly in step with a weak trend at London Metal Exchange ( LME) due to a steady dollar and lackluster demand in China, the world's biggest user.
Aluminium rebounded from the lowest level in two months as China’s Premier Li Keqiang said that the world’s second-largest economy saw positive signs of change this year, bolstering the outlook for demand. The lightweight metal rose as much as 0.4 per cent to $1,486 a metric ton on the London Metal Exchange and traded at $1,485.50 at 11:41 a.m. in Shanghai after closing at $1,479.50 on Wednesday, the lowest since January 25. Aluminium had dropped for the past few days as a strengthening dollar hurt demand. Speaking in a keynote speech at the Boao forum in Hainan, southern China, Li said China was confident of maintaining more than 6.5 per cent growth rate over the next five years. The job market was steady in the first two months and the quality of economic growth is improving, he said....
China's persistent metals glut has lately been putting pressure on shares of Alcoa (AA), as dismal forecasts Wednesday contributed to the New York-based aluminium manufacturer's decline in share price of more than 5 per cent. "China's campaign to cut industrial overcapacity could be derailed by mounting debts," Deutsche Bank analyst Jorge Beristain said in a Wednesday report. For Huaibei Mining alone, one of China's largest coal-producing mining corporations, "debt in steel, coal, cement, and non-ferrous metal sectors totals 10 trillion Chinese yuan (about $1.6 trillion)," Beristain said in the report. "Although the Chinese government is providing more than 100 billion Chinese yuan ($15 billion) aid to handle layoffs in steel/coal industries, the funds will be made available only after...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium producer, announced the launch of Phase II of its company-wide, cost reduction programme Project Titan with the aim to reduce cash cost by US$ 100 per metric tonne of aluminium and step-up its production capacity to 1,000,000 metric tonnes per annum by end of 2017. Project Titan Phase II, focused on optimizing operational costs and boosting the Company’s production, is an integral part of Alba’s strategy for value creation and reflects the current and expected market conditions in the aluminium industry. Explaining further, Alba’s Chief Executive Officer Tim Murray said: “Given the tough market conditions, we believe that we can do more than necessary and push ourselves in order to maintain our position as...
Hydro is donating up to NOK 10 million to create a five year professorship at the Norwegian University of Science and Technology (NTNU). The professorship will support the creation of the NTNU Aluminium Product Innovation Center (NAPIC). The vision of the center is to find new product areas for aluminium, and to establish NTNU as a world leader in the application of aluminium products. Through a unique collaboration between NTNU faculties in Trondheim, Ålesund and Gjøvik, NAPIC will research the application of aluminium in architecture, product design, materials technology and product development. Vanguard research. "Aluminium is energy and knowledge in solid form, and Norway is already a world leader in research and innovation within our industry. This center will be in the vanguard of...
