Primary Aluminium Industry News & Market Updates

28 SEPT 20263MINS

Aluminium rises to $3.63 as Gulf supply disruptions tighten global market

Aluminium prices gained 0.43 per cent as reduced Gulf production and low exchange inventories supported the market, while Chinese output and capacity restarts could limit further gains. Aluminium prices settled 0.43 per cent higher at INR 348.65 (USD 3.63) as tight physical supply conditions supported the market. Disruptions linked to the US-Iran tensions have affected aluminium availability from the Gulf region, with Gulf Cooperation Council (GCC) production falling 44 per cent year-on-year in July. Low exchange inventories have added to supply concerns. London Metal Exchange (LME) stocks remained near a 36-year low, while inventories on the Shanghai Futures Exchange (SHFE) declined 4.7 per cent from the previous week. However, expectations of improving supply have limited the market’s...

US bond fluctuations pressure nonferrous metals valuations pre-holiday continued destocking supports short-term aluminium price consolidation

28 SEPT 20267MINS

Primary AL

US bond fluctuations pressure nonferrous metals valuations pre-holiday continued destocking supports short-term aluminium price consolidation

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...

28 SEPT 20262MINS

Primary AL

LME aluminium cash bid rises to $3,253/t as Asian reference price gains 0.55% on September 25

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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27 APR 20174MINS

Aluminium China 2017 to highlight trending topics from the global aluminium industry

Coinciding with the NPC and CPPCC meetings in Beijing, the aluminum industry in China is experiencing a warm spring. Primary aluminum has seen a rise last year from 9,800 yuan/ton to 15,800 yuan/per ton. In 2017, the aluminum price may see further rise with the more stringent environmental regulations and the policy drive to reduce overcapacity. Against the backdrop of such favorable conditions, Aluminium China is taking place at SNIEC on 19-21 July, 2017. The event has been the industry barometer over the past 13 years making new breakthroughs and attracting attention by all industry players. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminium%20china.jpg" alt="News" width="517"...

27 APR 20173MINS

LME aluminium to edge higher while range-bound trading expected in SHFE aluminium

LME aluminium prices climbed higher drawing support from a vulnerable US dollar index that has been on a decline since the beginning of this week. The light metal contract rose by 0.74 per cent from Tuesday’s close of US$1,943 per tonne to end at US$1,957.50 per tonne on Wednesday, April 26. Shanghai Metals Market (SMM) predicts that the LME aluminium will rise further up to US$1,955-1,985 per tonne on Thursday, April 27. As on April 26, LME official cash buyer price of aluminium stands at US$1,957 per tonne, cash seller & settlement price is US$1,957.50 per tonne, 3M buyer price is US$1,963.50 per tonne, 3M seller price is US$1,964 per tonne, Dec1 buyer price is US$2,000 per tonne, and Dec1 seller price is US$2,005 per tonne. The current LME official Opening Stock of...

26 APR 20172MINS

The Aluminum Association releases 2017 North America aluminum industry plant and press directories

The Aluminum Association released the 2017 edition of the North America Aluminum Industry Plant Directory and the North America Aluminum Industry Extrusion Press Directory. The Plant Directory covers 485 plants while the Extrusion Press Directory covers 204 plants, operating 538 extrusion presses, in North America as of April 2017. This updates previous directories last published in 2014. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/portland%20AlcoaPlant.jpg" alt="News" width="517" height="226" /> The directories provide plant location, types of products produced, contact information and affiliated websites.  The Press Directory includes information on extrusion presses by size...

26 APR 20173MINS

LME aluminium to move at highs; supply-side concerns will support SHFE aluminium

LME aluminium prices find support at US$1,931 and rises to US$1,943 per tonne after night trading on Tuesday, April 26. The 0.77 per cent rise from the previous close of US$1,928 per tonne on Monday, April 24, can be explained by the fact that the US dollar index is hovering near its five-month low and is showing little signs of ticking up. Reuters' analysis states, LME aluminium may test next support at US$1,955 per tonne, and has a good chance of breaking below this level and falling more towards US$1,946 support. According to Shanghai Metals Market (SMM) forecast, LME aluminium is likely to move at highs of US$1,950-1,975 per tonne on Wednesday, April 26. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...

25 APR 20172MINS

Small surplus in forecast for China aluminium market in 2017

China's aluminium output in 2017 will grow at 10.3 per cent rate compared to production in 2016, the China Non-Ferrous Metals Industry Association (CNIA) reported. The CNIA data shows there will be a surplus of 230,000 tonnes of aluminium in China market this year unlike in the global aluminium market where a deficit situation is predicted to continue. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminiumsurplus.jpg" alt="News" width="517" height="290" /> China is presently undergoing extensive reforms as far as smelter operations are concerned. The government of Xinjiang has stepped up inspection activities all over the region to stop production at aluminium projects that...

25 APR 20172MINS

Alcoa reports sequential growth in profits in Q12017 on stronger alumina & aluminium prices

Alcoa Corporation has reported first quarter 2017 results and the company reports sequential growth in profits on stronger alumina and aluminium pricing and a solid cash position. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Alcoa-office-1940x1294.jpg" alt="News" width="517" height="226" /> Alcoa reports a net income of $225 million and an adjusted net income of $117 million. Adjusted EBITDA of $533 million was up 59% sequentially driven by higher alumina and aluminium pricing.  Revenue of $2.7 billion, up 5% sequentially, reflecting increased alumina and aluminum pricing Company continues to expect full-year 2017 adjusted EBITDA, excluding special items, between $2.1...

25 APR 20173MINS

LME aluminium may find support at US$1931; SHFE aluminium moves in a tight range

LME aluminium prices are fluctuating in a very narrow range. The light metal contract which closed at US$1,932.50 per tonne on Friday, April 21, dropped 0.23 per cent to end at US$1,928 per tonne on the first trading day of the week. Reuters' analysis has it that LME aluminium may break a resistance at US$1,931 per tonne to inch slightly up to the next resistance at US$1,964, to stage a bounce from the April 18 low of US$1,892. The metal may peak around US$1,964 before starting to drop, the analysis shows. According to Shanghai Metals Market (SMM) forecast, LME aluminium should log higher at US$1,935-1,965 per tonne on Tuesday, April 25, with strong support at the 5-day and 20-day moving averages. <img style="vertical-align: middle; display: block; margin-left: auto;...

24 APR 20173MINS

HKEX and LME announce new LME Chief Executive and leadership structure

Hong Kong Exchanges and Clearing Limited (HKEX) and the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX, are pleased to announce the appointment of Matthew Chamberlain as Chief Executive of the LME effective immediately subject to the approval of the Financial Conduct Authority (FCA) of the UK.  Mr Chamberlain will remain on the LME Board and will continue as a member of HKEX’s Management Committee.  <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20logo%20Carousell%20315x177.jpg" alt="news" width="315" height="226" /> Mr Chamberlain has been the interim Chief Executive since January 2017 and was previously the Chief Operating...

24 APR 20172MINS

RUSAL’s Q1 2017 aluminium sales grow 6.8% QoQ as inventory moves fast

The leading global aluminium producer United Company RUSAL Plc announced its first quarter 2017 operating results on a high note. The company's Q1 2017 aluminium sales totalled 985 thousand tonnes, up 6.8 per cent from the previous quarter. Value added product (VAP3) sales rose by 7.8 per cent QoQ to stand at thousand tonnes. RUSAL attributes the total quarter-on-quarter sales dynamics to the increased level of inventories in the last quarter of 2016 which were subsequently sold out in the first quarter of the current fiscal. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/UCRUSAL.jpg" alt="News" width="517" height="344" /> On the production side, RUSAL failed to outdo its last...

24 APR 20172MINS

Aluminium Bahrain’s Q12017 net income jumps 506 per cent YoY

A global aluminium smelter Alba reported its financial results as per the International Financial Reporting Standards (IFRS) accounting rules. The company said its top-line and bottom-line performance for the first quarter of 2017 was driven primarily by higher LME prices and favourable management performance.  <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/13_big.jpg" alt="news" width="517" height="226" /> Alba reported a net income of BD 25.6 million (US$ 68 million) in the first quarter of 2017 versus BD 4.2 million (US$ 11 million) in Q1 2016. The income increased by 506 per cent year-on-year (YoY). Alba’s Chief Executive Officer, Tim Murray...

24 APR 20172MINS

LME aluminium poised to regain strength and 'possibly' outshine SHFE aluminium

LME aluminium prices remained fairly unchanged over the weekend. The lightmetal contract closed the week at US$1,932.50 per tonne on Friday, April 21, marginally down by 0.02 per cent from its previous close of US$1,933 per tonne. The US dollar index, which fell on Friday supporting LME aluminium prices ahead of French elections, has edged slightly higher amid speculations in the non-commercial futures market. The uptrend is likley to weigh down upon the base metals, but the effect would be limited. According to Reuters' analysis, LME aluminium may test a support at U$1,931 per tonne, as suggested by its wave pattern and a Fibonacci projection analysis. Shanghai Metals Market foresees, LME aluminium will rebound to US$1,926-1,966 per tonne on Monday, April 24. <img...

23 APR 20172MINS

India Ministry of Mines to get 'chair professor in Aluminium' for VNIT

The Department of Metallurgical and Materials Engineering (MME) at Visvesvarya National Institute of Technology (VNIT) announced last week that it intends to get a 'chair professor in Aluminium' soon. The chair, to be set up by the ministry of mines (MoM) through the city based Jawaharlal Nehru Aluminium Development and Design Centre (JNARDDC), will start functioning from the next academic year onward. According to reliable sources, IIT Bhubaneshwar is also planning to get a similar chair for its own metallurgy department. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Campus-Pics-img37.jpg" alt="News" width="517" height="387" /> It is a norm in the academia to select the chair...

21 APR 20171MINS

Expect good margin from aluminium in FY18: NALCO

India’s leading aluminium producer National Aluminium Company (NALCO) has seen a strong response to their offer for sale (OFS) with the non-retail segment seeing a subscription of 1.84 times and the government has decided to retain full over subscription under the greenshoe option. In a recent interview, TK Chand, CMD of NALCO spoke about the latest happenings in his company and sector. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/T_K_Chand.jpg" alt="News" width="517" height="344" /> TK Chand said, he expects aluminium price to move between USD 1870 and USD 1950 in FY18. Speaking about recent price increases in the aluminium sector, he said, "In Q4 our margins...

21 APR 20172MINS

Pot outage upsets Vedanta’s aluminium smelter operations

Vedanta Resources plc's subsidiary Vedanta Limited has made an announcement yesterday, 20th April, 2017, that it faced pot outage at its aluminium smelter and the coal handling plant was affected in another incident of fire. Both the incidents occurred earlier this week at its two different sites. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/vedanta_jharsuguda-smelter_620x350.jpg" alt="news" width="448" height="253" /> The 500kt plant-1 smelter at Jharsuguda had a pot outage incident in Orissa where 228 pots out of the total 608 pots were damaged and taken out of production. According to the statement, “The impacted pots will require to be repaired over the next few...

21 APR 20173MINS

LME aluminium rebounds to stay up, Shanghai aluminium follows suit

LME aluminium finally staged a strong reversal on Thursday's night trading and closed at US$1,933 per tonne, rising 1.95 per cent from its previous close of US$1,895.50 per tonne on Wednesday, April 19. As Reuters finds it, LME aluminium faces a resistance at US$1,955 per tonne and may retrace into the range of US$1,924-$1,931. According to Shanghai Metals Market (SMM) forecast, the light metal contract should keep hovering at highs and move in the range of US$1,925-1,965 per tonne on Friday, April 21. As on April 20, LME official cash buyer price of aluminium stands at US$1,932.50 per tonne, cash seller & settlement price is US$1,933 per tonne, 3M buyer price is US$1,942 per tonne, 3M seller price is US$1,942.50 per tonne, Dec1 buyer price is US$1,978 per tonne, and Dec1...

20 APR 20172MINS

Streamlining business: Alcoa to consolidate global administrative locations

The global minerals and metal major Alcoa Corporation today announced that it plans to consolidate its worldwide administrative locations in a bid to streamline its overall business and lower costs. Alcoa said that it will close its office in New York City and shift its global headquarters and principal executive office to Pittsburgh as of September 1, 2017. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/alcoaoffice.jpg" alt="News" width="516" height="321" /> The location-wise consolidation activities will also see the closure of administrative offices in seven more locations across the U.S., Europe and Asia. The plan will be executed over the next 18 months. The affected...

20 APR 20172MINS

Hindalco to retire debt worth INR 6,800 cr this year

Hindalco Industries Limited, the metals flagship firm of the Aditya Birla Group and the world largest aluminium rolling company has been flush with funds after it successfully raised capital from qualified institutional placement (QIP). The company plans to use that fund to retire part of its debt in the current fiscal to the tune of INR 6,800 crore, reports The Economic Times. The loan prepayment will be the largest ever by any corporate to domestic banks in India. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aditya-birla-hindalco_12389.jpg" alt="News" width="517" height="431" /> The report said that the company is going to prepay INR 4,500 crore in April, which...

20 APR 20171MINS

Rio Tinto publishes its Q12017 aluminium production result

Rio Tinto, one of the world's largest metals and mining corporations, has published details of its aluminium production result for the first quarter of 2017. Rio Tinto’s data shows that the company produced 889 thousand tonnes of aluminium in the first quarter of 2017. The company’s quarterly aluminium production is two per cent higher than the corresponding quarter of 2016. <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/RTpotlines.jpg" alt="news" width="448" height="299" /> It said that the increased aluminium production is due to Kitimat smelter, which reached nameplate capacity in April 2016, together with on-going production creep across the other smelting...

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