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>According to a Reuter’s report, a base metals buying and selling platform for physical spot delivery launched by German company Metalprodex in 2016 is expanding into metals trading using price premiums.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminum-Ingot-hot-sell-ADC12-A360-A380.jpg" alt="News" width="517" height="226" /></p> <p>"Price premium trading contracts have now been launched covering all primary aluminium, lead, zinc and copper products as well as all semi-finished products," Metalprodex managing director Janko Linhart told Reuters on Wednesday.</p> <p>Metalprodex was launched in the last quarter of 2016 as an electronic trading platform for delivery of physical...
<p>After dropping down to US$1,938 per tonne on Tuesday, April 4, LME aluminium closed at US$1,962 per tonne on Wednesday, April 5, registering 1.2% rise from last closing price. As seen by SMM, LME aluminium will move at highs on Thursday and will fluctuate between USD 1,950-1,990 per tonne.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/lme%206%20april.png" alt="News" width="517" height="226" /></p> <p>According to Reuter’s analysis, LME aluminium may retest a resistance at $1,978 per tonne and may gain further to $1,992, if it breaks above the resistance mark. The resistance is provided by the 214.6% Fibonacci projection level of an uptrend from the March 14 low of $1,855.</p> <p>If...
<p>Alba has reported production and sales results for the first quarter of 2017. Aluminium Bahrain started 2017 with strong sales and production volume registering an increase of 4.9% and 5.6% YoY respectively.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/alba%20smelter.jpg" alt="News" width="517" height="226" /></p> <p>Sales volume in the first quarter of 2017 totalled 242,932 tonnes compared to 231,538 tonnes in Q1 2016 while production volume totalled 248,776 tonnes, an increase of 13,298 tonnes in comparison with 235,478 tonnes for the same period in 2016.</p> <p>Commenting on Alba’s Sales volume and Production for Q1 2017, Alba’s Chief Executive Officer, Tim Murray said:</p>...
<p>Vedanta Resources Plc today announces its election to redeem in cash all of its outstanding 9.5% bonds maturing 18 July 2018 under condition 5(b) of the terms and conditions of the bonds.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/investor-relations-contact-info.jpg" alt="news" width="517" height="226" /></p> <p>The Company has duly served a Notice of Redemption effective today in accordance with the terms and conditions of the bonds and the settlement is expected to occur on 4 May 2017.</p> <p>Upon settlement, the Company will reduce its near-term gross debt by $379mm in face value, in-line with its stated strategy to deleverage and extend its average debt maturity.</p> <p></p> <p>Tom...
<p>CME Group has reported that March 2017 average daily volume (ADV) reached 16.9 million contracts, up 18 percent from a March 2016.</p> <p>CME Group March 2017 options volume averaged 4 million contracts per day, up 47 percent versus March 2016, with electronic options averaging 2.3 million contracts per day, up 52 percent over the same period last year.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminum_ingots_550.jpg" alt="News" width="550" height="367" /></p> <p>Open interest at the end of March was 114 million contracts, up 8 percent from the end of March 2016. Interest Rate volume averaged 8.7 million contracts per day in March 2017, up 36 percent from March 2016.</p> <p>CME Group...
<p>LME aluminium is moving downhill. The light metal which was rallying a week ago dropped 0.53 per cent from its previous close of US$1,948.50 per tonne on Monday, to US$1,938 per tonne on Tuesday, April 4. The decline, Reuters analyses, is not going to be a persisting one. The wave pattern and a Fibonacci projection says LME aluminium may end its current bounce around a resistance at US$1,970 per tonne and then fall towards its April 4 low of US$1,936.</p> <p>According to Shanghai Metals Market forecast, LME aluminum will rally to the 10-day moving average and move at US$1,922-1,946 per tonne on Wednesday, April 5.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LMEAluminiumApril05.jpg"...
<p>Aluminium started the year 2017 on a positive note. The light metal traded on the world's biggest commodity exchanges experienced a steady rise till it hit the two-year high of US$1,963 per tonne on March 30. Since then, the uptrend seems to have somewhat lost its steam. Rio Tinto Group chief executive Alfredo Barrios said in a recent interview that the lightweight metal is heading for an “extremely” volatile period.</p> <p>The market is eagerly looking at China as it endeavours to check pollution caused by its domestic aluminium industry players. The uncertainty over when the Asian giant will curb the production of the metal is actually helping to keep the investors on edge. Barrios said, "There’s no doubt that if you look at the supply side, if you look at the...
<p>The uptrend in LME aluminium price seems to have lost its momentum recently. The contract though inched higher at US$1,948.50 per tonne on Monday, April 3, from its previous day's close of US$1,946.50 per tonne, is likely to break a support at US$1,948 per tonne and fall to the next support at US$1,934 per tonne, analyses Reuters. Over the next few days, LME aluminium may retrace towards US$1,913. A more realistic target for the metal contract could be US$1,934, Reuters forecasts. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME.png" alt="News" width="517" height="226" /><br />As on April 3, LME official cash buyer price of aluminium stands at US$1,948 per tonne, cash seller &...
<p>After China Hongqiao company was recently sold short by Emerson Analytics , China Hongqiao company bonds were sold off continuously, making the company apply for an emergency suspension, and because the company needs more time to deal with the 2016 annual audit work problems, and the 2016 annual report will be delayed released. In addition, China Hongqiao is applying for duty exemption to avoid $ 700 million offshore loans default clause.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/china%20hingqiao.jpg" alt="news" width="517" height="226" /></p> <p>On Saturday, the <em>letter on prevention and response to Western countries leading by US to contain China's aluminum...
<p>A century old Freeport Brick Co., which was bought by Fuzion Technologies in 2005, will shut down on April 30, according to the United Steelworkers union in Pittsburgh. The plant produces fire bricks that line industrial equipment such as kilns and furnaces and supplies to steel mills and aluminium producers.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/freeport%20technlogy.jpg" alt="News" width="517" height="226" /></p> <p>Though Fuzion Technologies declined to comment on the reason of the plant's closure, the steelworkers union attributed it to “financial reasons related to the downturn in the domestic aluminium industry, which results from unfairly traded goods caused by global...
<p>LME aluminium ended last week in a drop from its weekly high of US$1,981 per tonne on Thursday, March 30, to US$1,946 per tonne on Friday, March 31. The contract declined 0.46 per cent from Thursday's closing at US$1,955 per tonne. The price movement of the light metal on LME was in tandem with the US dollar index that slowed down towards the end of the week after a consecutive four-day bull run. This divergence is likely to continue in the short term.</p> <p>Reuters analysis suggests, LME aluminium may test a support at US$1,948 per tonne and retrace towards US$1,913 per tonne over the next few days. A break below US$1,948 could cause a further loss to US$1,934, while a break above US$1,970 could lead to a gain to US$1,984.</p> <p><img style="vertical-align: middle; display: block;...
<p>The sustained rise in LME aluminium prices met with an end-of-the-week halt as the contract came down from its yearly high at US$1,981 per tonne on Thursday, March 30 to close at US$1,946 per tonne on Friday, March 31. The day marking the end of the FY2016-17 financial year for many companies saw the contract being traded at lower volumes. However, "The March data is going to be the first 2017 data we can take at face value," said an analyst.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LMEAluminiumApril1.png" alt="News" width="517" height="278" /></p> <p>As Reuters puts it, gains in aluminium have been recently driven by buying from a mix of CTAs (commodity trading advisers),...
<p>South 32, a spin off from mining giant BHP Billiton has started seeing brighter days after the charge of metal prices in the end of 2016.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/graham%20bush.png" alt="News" width="517" height="226" /></p> <p>The miner reported a net profit of $US620 million ($804 million) in H2 2016, from the $US1.7 billion loss in 2015, which was primarily due to asset write-downs. The company, however, has taken a wise decision to hang on to a large chunk of its cash for security. The company announced it will pay shareholders an US3.6¢ a share interim dividend. This will cost the company $US192 million, with net cash balance standing at $US859...
<p>A company statement from the London listed Vedanta Resources Plc confirms that its CEO) Tom Albanese will leave the $2.7 billion Indian resources giant by the end of August after completing his three years tenure.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/tomalbanese2-kH8D--621x414@LiveMint.jpg" alt="News" width="517" height="226" /></p> <p>"Vedanta Resources...Has agreed to extend the Executive Service Agreement of its chief executive officer, Tom Albanese until 31 August 2017," the company statement says.</p> <p>Albanese, who was previously the CEO of Rio Tinto Group, joined Vedanta in 2014, a led the metal and mining conglomerate through the industry downturn that literally crippled...
<p>LME aluminium is rising and how. The light metal which touched the highest since mid of May 2015 at US$1,931 per tonne on Wednesday, March 29, climbed further up to close at US$1,955 per tonne (+1.24%) on Thursday, March 30. Shanghai Metals Market (SMM) predicts LME aluminium will trend higher and keep fluctuating at US$1,955-1,980 per tonne on Friday, March 31. According to Reuters' analysis, LME aluminium may consolidate in a range of US$1,957-$1,970 per tonne for one day before falling again, as suggested by its wave pattern and a Fibonacci projection analysis.</p> <p>As on March 30, LME official cash buyer price of aluminium stands at US$1,954.50 per tonne, cash seller & settlement price is US$1,955 per tonne, 3M buyer price is US$1,959.50 per tonne, 3M seller price is US$1,960...
<p>Trimet, Germany’s largest producer of aluminum, is testing technology to turn its smelters into a "virtual battery" capable of delivering 1.12 gigawatt-hours of flexible capacity.</p> <p>The family-owned business is investing €36 million ($39 million) in a two-year industrial-scale pilot of systems that will allow power use across 120 electrolysis cells to be dialed up or down by 25 percent in either direction, for up to several hours.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/-1x-1.jpg" alt="news" width="517" height="226" /></p> <p>The pilot is being carried out on a single production line in Trimet’s Essen aluminum smelter.</p> <p>The production line will be able to...
<p>Oman is Middle East’s fifth-largest producer of aluminium after the United Arab Emirates, Bahrain, Saudi Arabia and Qatar. International mining players have taken keen interest in the country for investment in recent years. Oman is well positioned geographically and logistically for distribution of metals and minerals to southern and eastern Asia.</p> <p>{newsStudioGallery}</p> <p>Sohar Aluminium was formed in September 2004 to undertake a landmark Greenfield aluminium smelter project in the Sultanate of Oman and is jointly owned by Oman Oil Company, Abu Dhabi National Energy Company PJSC - TAQA and Rio Tinto Alcan. The company accounts for the total aluminium production in the country. The Sohar aluminium smelter has an annual production capacity of 375,000 tonnes of high...
<p>Against a required production growth rate of nearly 11 per cent during FY2016-17, Coal India is likely to close the year with a 2.5 per cent growth and a 2 per cent rise in sales over the previous year.</p> <p>“We hope to achieve a 2.5 per cent production growth by the end of this fiscal and sales are likely to witness a 2 per cent growth," a senior Coal India executive said.</p> <p>The official said Coal India's production was majorly impacted this year by issues at the Talcher mine and those related to rehabilitation and resettlement. Less than anticipated power demand growth led to lower sales. This in turn increased stocks at pit heads ultimately affecting production.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
