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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LME aluminium is expected to drop to $1,531 per tonne, following the completion of a three-wave cycle from the Nov. 23, 2015 low of $1,432.50. Labelled c, the final wave of the cycle could be divided into five small waves. Such a division is a strong signal that the cycle has ended. The fifth wave of the wave c, the wave 5, has been developing within a narrow channel, from which, a duplicated channel suggests a target at $1,531, the 61.8 percent level Fibonacci projection level of a bigger wave C from the Jan. 12 low of $1,449 . A further bounce could be limited to $1,581, the 100 percent level.
The U.S. aluminium industry is working through multiple channels to address China’s production overcapacity and resulting glut in the global market. The “China Trade Task Force,” a cooperative effort between smelter Century Aluminum and the United Steelworkers, has been the face of the drive to slow imports of cheap Chinese product, which is undercutting U.S. prices. But now the Aluminum Association has broken its silence. China is “not slowing down their run-up in capacity,” Charles Johnson, the Aluminum Association’s vice president for policy, told in a recent interview. “We believe we have to get to the underlying issue.” The group is working toward the overall goal having the U.S. negotiate an agreement with Beijing to cut back production for which there is no demand. Meanwhile, the...
Russia's Rusal Plc plans to start its new Boguchansk aluminium smelter in the first half of 2016, the company said on Wednesday, after reporting a 53 percent slide in its fourth-quarter core profit. Rusal, the world's largest aluminium producer, has been hit by weak metal prices and the start of its Boguchansk smelter in Russia's Krasnoyarsk region has been repeatedly postponed. "Everything is ready from the technical point of view, and the first stage is running in a test mode," said Oleg Mukhamedshin, deputy chief executive. The smelter's first stage has a capacity of 147,000 tonnes of aluminium per year. The company will announce the start of the smelter's production as soon as it receives approval from Russian authorities, he told reporters. Rusal, controlled by Oleg Deripaska and...
On the 14-18 February 2016, at the TMS annual meeting and exhibition, where aluminium smelters and mining companies display their latest improvements and achievements, the Qatalum Anode Baking furnace was rated as the AP technology benchmarks, which means the best in the world for baking homogeneity and refractory status. Qatalum is one the few smelters in the world that uses baffle-less flue walls in its bake furnaces, an RTA (Aluminium Pechiney) technology, aimed to improve upon the traditional baffle flue walls used in most bake furnaces around the world. The excellence reflects Qatalum’s mission of creating a future of opportunities by setting the standard in operational excellence, therefore contributing towards Qatalum’s vision to be world class Aluminium Company. Carbon management...
Mr. Andi Rajender has been appointed as an Non-Executive Director (Additional Director) of Pennar Aluminium Company Ltd with effect from February 20, 2016. The Board has approved the same by passing a Board Resolution. Shares of PENNAR ALUMINIUM CO.LTD. was last trading in BSE at INR 0.37 as compared to the previous close of INR 0.38. The total number of shares traded during the day was 33800 in over 13 trades. The stock hit an intraday high of INR 0.39 and intraday low of 0.37. The net turnover during the day was INR 12546.
Gov. Jay Nixon announced on Tuesday, March 8 that $1.7 million in resources will be allocated to assist the nearly 850 workers impacted by layoffs at the Noranda Aluminum in New Madrid. These resources, made available through the Missouri Department of Economic Development and other partner agencies, will help impacted workers offset costs of utilities, housing, job placement training and tuition. “These layoffs have affected hundreds of Missouri families in the region, and we are committed to doing everything we can to help these workers transition and move forward,” Gov. Jay Nixon said. “The resources we’re announcing today will not only help these hardworking Missourians make ends meet, they will also help stabilize the local economy.” The Missouri Department of Economic Development...
Aluminium price has recovered strongly from its six-year low. The aluminium spot price on the London Metal Exchange (LME) fell to a six-year low of $1,423 per tonne in November 2015. The metal price has surged about 13 per cent from this low to the current levels of $1,604 per tonne. The strong economic data from the US has brought about a change in sentiment. Also, increased hopes for further stimulus announcements from China, the world’s largest consumer of this metal, is also providing support to the recent rally in aluminium price. On the domestic front, the aluminium futures contract traded on the Multi Commodity Exchange (MCX) has also risen sharply from its multi-year low of INR 93 per kg recorded in October 2015. The contract rose to a high of INR 111.3 in February and has come...
China’s aluminium shipments declined in February, reflecting weaker overseas demand, increased trade frictions and slowing domestic production. Exports of unwrought aluminium and products fell 26 per cent to 280,000 metric tons from the previous month, the smallest in two years, customs data show. The country’s total exports plunged 25.4 per cent in dollar terms from a year earlier, the most since May 2009. A slowdown in global trade is making it harder for the country’s leaders to keep growth in the targeted 6.5 per cent to 7 per cent range. China, the largest producer of aluminium, has boosted exports as the weakest growth in a generation slowed demand at home. The surge in shipments has pushed down world prices and spawned trade tensions from the US to Europe and India. “Economies are...
UC RUSAL, a leading global aluminium producer, has announced its results for the year ended 31 December 2015. Total revenue decreased by USD677 million or by 7.2 per cent to USD8,680 million in 2015 compared to USD9,357 million in 2014. The decrease in total revenue was primarily due to the lower sales of primary aluminium and alloys, which accounted for 83.9 per cent and 83.6 per cent of UC RUSAL’s revenue for the years 2015 and 2014. Revenue from sales of primary aluminium and alloys decreased by USD544 million, or by 7.0 per cent, to USD7,279 million in 2015, as compared to USD7,823 million in 2014, primarily due to 9.8 per cent decrease in the weighted-average realized aluminium price per tonne driven by a decrease in the LME aluminium price, as well as a decrease in premiums above...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium smelter, today, March 07, 2016 welcomed a high level delegation from the Indonesian parliament, headed by Member of the House of Representatives of the Republic of Indonesia, Asep Maoshul. The meeting was held at the Alba’s Al Dana Hall where the delegation was welcomed by Alba’s Chief Financial Officer, Ali Al Baqali, Chief Marketing Officer, Khalid Latif and Acting Chief Operations Officer, Amin Sultan. Speaking about this visit, Alba’s Chief Financial Officer, Ali Al Baqali said: “We are pleased to receive the Indonesian delegation and discuss various matters related to industry and commerce between the two countries. As one of the key pillars of Bahrain’s economy, it was a privilege to share Alba’s...
The Shanghai Futures Exchange (SHFE) recently approved 12 warehouses from eight companies for aluminium delivery. The latest move by the SHFE will help facilitate hedging business for local aluminium smelters and processors, as well as reduce aluminium delivery costs, SMM aluminium analyst Liu Xiaolei said. Every coin has two sides, though. Some aluminium smelters expressed concerns that production costs for deliverable aluminium will be 10-20 yuan per tonne higher than those for non-deliverable aluminium, due to high requirement on deliverable aluminium’s packaging, quality, etc. Smelters are more concerned with whether the price spread between deliverable and non-deliverable aluminium could offset additional production costs for the former. Market players see a high possibility that the...
About 33 per cent of the 33 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1605 aluminium rising above RMB 11,500/mt and LME aluminium breaking through USD 1,600/mt, citing positive factors. First, the PBOC’s RRR cuts stimulated home sales in first-tier cities, and home prices in second-tier cities followed up. This will brighten demand outlook for aluminium windows and doors, etc. Second, alumina prices have risen from RMB 1,661/mt at the end of last year to current RMB 1,855/mt and on track for more gains, adding to aluminium costs. Third, aluminium stocks in China’s three major markets were flat with a week ago as consumption recovers. Fourth, technical side is positive for SHFE aluminium. Another 56 per cent see SHFE 1605...
SMM monthly Aluminium MMI rose to 73 points in March, its highest reading in four months. After a period a period of price stability, aluminium prices are finally showing the first signs of strength, thanks in part to a weaker dollar in February. In their monthly outlook SMM has already recommended subscribers to buy up in volume. So what is suddenly causing this strength in aluminium prices? First, SMM reminds that aluminium prices are still near historical lows. This price bounce comes after significant declines in previous months and, not only aluminium, but all base metals have risen in price recently. However, some indicators within the aluminium industry are giving aluminium producers some reasons to become more optimistic. China’s exports and production down In January, China...
Bahrain Mumtalakat Holding Company ("Mumtalakat"), the investment arm of the Kingdom of Bahrain, today announced the successful acquisition of a 49 per cent equity stake in Asturiana de Aleaciones S.A. ("ALEASTUR"), a Spanish-based manufacturer of aluminium grain refiners and master alloys. Established in 1985 in Spain, ALEASTUR is specialised in the manufacturing of aluminium grain refiners and master alloys, mainly in rod form and ingots. Since its inception, the Company has evolved into one of the leading aluminium grain refining players in the world with an international presence and a diverse distribution base of over 700 customers across 70 countries. This transaction demonstrates Mumtalakat’s continued commitment to further develop the Kingdom’s downstream aluminium sector and to...
A ship carrying three thousand tons of aluminium from Rio Tinto Alcan in Straumsvík will leave harbor this afternoon, headed for the Netherlands, despite the limited strike meant to prevent all shipping of aluminium from the harbor. Ólafur Teitur Guðnason, spokesperson for Rio Tinto Alcan, says that’s the bulk of the aluminium which the company had planned to ship, RÚV reports. The labor dispute between workers of Rio Tinto Alcan and company management continues. A labor court had ruled the shipping ban legal, but management stepped into the jobs of the striking workers, making the shipment possible. Tuesday night, the Reykjavík Sheriff ruled that 15 people in management at the aluminium smelter had the right to participate in loading the ship. The union had argued that only two people in...
LME aluminium will gather more rising steam this coming week on positive sentiment in Chinese market, SMM sees. Expectations for demand recovery in Chinese aluminium market will drive LME aluminium up to challenge resistance at $ 1,600 per tonne. The first half of the year will not see massive restarts of idled aluminium capacity and commissioning of new aluminium capacity in China. So, supply will remain tight for the near term. Spot discounts in China are expected at 80-40 yuan per tonne over SHFE 1603 aluminium contract, with suppliers holding back goods at lows.
Aluminium Association of India (AAI) will approach the Ministry of Mines for the revival of Aluminum Development and Promotion Council, its newly elected President Tapan Kumar Chand has said. "We are in an important phase of growth for the sector. We will emphasize on development of downstream Industries to go along with primary metal producers," Chand said in his address to the AAI Governing Council meeting here. Chand, who is the Chairman and Managing Director of NALCO, was elected as Honorary President of AAI at its Governing Council meeting held here yesterday, according to a release by the Association. He said they would also press for the revival of Development Committee on Aluminium Utilisation. The Aluminium industry wants the government to declare the sector as a "Core Industry"...
Procurement at Qatalum begins mandatory e-services for tender acquisition from March 1, 2016. Although in use by many of Qatalum’s suppliers and contractors for over 9 months, on the 1st of March 2016, Qatalum officially announces the launch of its electronic tender system, an online tender payment platform with the use of credit cards. The platform allows the download of Qatalum public tender documents. Effective from March 1, 2016, Qatalum will no longer accept cash payment receipts against tender fees nor continue its previous manual issuance of public tender documents. All suppliers and contractors are kindly requested to complete their online registration and start using the online tender fee payment system. Qatalum reserves its full right of not issuing public tender documents for...
