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>The rising momentum in LME aluminium has taken the contract to US$1,931 per tonne on Wednesday, the highest since mid-May 2015. The spike of 0.66 per cent from its previous close is the highest LME aluminium has registered in last one week. The strong uptrend in the light metal is expected to continue over the short term driven by speculations that the US will post a higher GDP in the fourth quarter. Shanghai Metals Market says LME aluminium will move between US$1,945-1,970 per tonne on Thursday, March 30.</p> <p>As on March 29, LME official cash buyer price of aluminium stands at US$1,930.50 per tonne, cash seller & settlement price is US$1,931 per tonne, 3M buyer price is US$1,938 per tonne, 3M seller price is US$1,938.50 per tonne, Dec1 buyer price is US$1,973 per tonne, and...
<p>During the FT Commodities Global Summit in Lausanne, Jean-Sébastien Jacques, CEO of Rio Tinto said that China’s crackdown on polluting steel furnaces would lead to greater demand for higher-quality raw material iron ore. The restructuring of the country’s state-owned enterprises would lead to demand for the iron ore it produces in Australia. He at the same time added that the same is not true for the aluminium industry restructuring.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rioCEO.jpg" alt="News" width="517" height="226" /><br /> <br /> Mr Jacques, who took charge as the chief executive of the Anglo-Australian mining giant in 2016, had a more cautious approach on aluminium. China’s restructuring of the...
<p>Emirates Global Aluminium (EGA), the largest aluminium producer in the Gulf Cooperation Council, has mandated Bank of America Merrill Lynch, Goldman Sachs and JP Morgan to advise on its initial public offering, reported sources aware with the development.</p> <p>One of the sources said the company’s EBITDA stands at $1.5 billion, and its closest publicly traded comparison Norsk Hydro is trading at a forward looking enterprise value-EBITDA multiple of 6.1.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Emirates-Global-Aluminium.jpg" alt="News" width="474" height="318" /></p> <p>Last week EGA had invited banks to pitch for the IPO but that the offering size was yet to be determined,...
<p>Alro, the largest aluminium producer in Continental Europe (excluding Russia and Scandinavia), has posted a net profit of RON 67 million in 2016 vs a net loss of RON 24 million in 2015. The adjusted net profit stands at RON 101 million in 2016 vs RON 45 million in 2015.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Alro-Slatina-Aluminum.jpg" alt="news" width="517" height="226" /></p> <p>Marian Nastase, President of the Board of Alro said, “Even if 2016 was a year marked by an unstable macroeconomic climate and lower aluminium prices at international level, it was an important year in Alro’s history, being the first year with a profit after four consecutive years of...
<p>LME aluminium is back to where it was a week ago. At US$1,918 per tonne after Tuesday's night trading, the contract has inched higher from its previous close of US$1,916 per tonne on Monday but remains at the same level where it was seven days back. The news about the US President Donald Trump signing the administrative order to launch a new time of energy industry and employment on Tuesday night seems to have boosted the market sentiment. OPEC's decision to extend oil output cut has also added to the cheer. The decision is likely to support crude oil and aluminium prices.</p> <p>However, Reuters believes LME aluminium will test a support at US$1,856 per tonne over the next three months, a break below which could cause a further drop to the next support at US$1,775. In the short term,...
<p>Aluminium ingot inventories in China major markets dropped for the first time after the 2017 Chinese New Year Holiday, reported Shanghai Metals Market. The total aluminium inventories in five key trading hubs fell 4,000 tonnes last week, SMM survey data showed.</p> <p>The shrink in inventory, though a small one, marked the first drop since the end of the Chinese New Year holiday this year which was celebrated from late January till February first week.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminiuminventory.jpg" alt="News" width="517" height="371" /></p> <p>As per Reuters' report, some Japanese buyers have agreed to buy the metal from aluminium producers at a premium of US$128 per...
<p>LME aluminium dipped marginally after meeting resistance at US$1,940 per tonne. The contract moved below the 5-day moving average to close at US$1,916 per tonne on Monday, March 27. The previous closing was recorded at US$1,917 per tonne. Shanghai Metals Market (SMM) estimates LME aluminium will test support at the 10-day moving average and move higher between US$1,920-1,935 per tonne on Tuesday, March 28.</p> <p>As on March 27, LME official cash buyer price of aluminium stands at US$1,917 per tonne, cash seller & settlement price is US$1,915 per tonne, 3M buyer price is US$1,924 per tonne, 3M seller price is US$1,924.50 per tonne, Dec1 buyer price is US$1,958 per tonne, and Dec1 seller price is US$1,963 per tonne. The current LME official Opening Stock of aluminium is estimated at...
<p>2017 seems to be a positive beginning for Vedanta driven by the upturn in commodity market that started towards 2016 –end and is still continuing with bullish trends.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/vedanta-.jpg" alt="News" width="517" height="226" /></p> <p>The company reported a total group revenue of USD 3,067.4 million and the revenue for the aluminium segment stood at USD 532 million, a 26% and 27% increase YOY respectively. Group EBITDA stood at USD 882.3 million, up 79% YOY. Operating profits in December quarter was the highest in last seven quarters. Share prices for Vedanta have grown more than three-folds from lows of INR 60 last February to highs of INR 275.40...
<p>Technology advancement and skilled manpower development are the two key essentials of manufacturing sector transformation in India. While the country seems to be gaining momentum in the first part, in the second area, that is, in skilled manpower development, it still lags behind in comparison to other industrialized countries of the world, noted Dr. Tapan Kumar Chand, CMD, National Aluminium Company Limited.</p> <p>He was addressing a seminar on “Emerging Technologies: The demand on talent and skills” organized by School of Management Studies, Ravenshaw University, on 25th March 2017 in Cuttack.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/nalcocmd.jpg" alt="" width="517"...
<p>Heavy industries are among the major catalysts that underpin the economy of Abu Dhabi, with the emirate having invested more than AED51 billion over the past 15 years to establish a robust industrial infrastructure for aluminum and steel industries, according to a recent media report.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/130703114225NKFB.jpg" alt="news" width="517" height="226" /></p> <p>Citing official figures of the Emirates Global Aluminum, EGA, and Emirates Steel, ES, the report, recently published by the Dubai-based Al-Bayan Arabic newspaper, said the aluminum and steel industries have been rapidly growing in the emirate over the past few years, producing and exporting...
<p>LME aluminium maintained a fairly steady uptrend last week. The lightmetal which started the week at US$1,908 per tonne on Monday, March 20, ended at US$1,917.50 per tonne on Friday, March 24. The rise was moderate at 0.49 per cent over the past seven days. Shanghai Metals Market (SMM) says LME aluminium will continue its rising momentum this week as well. The contract after meeting resistance at US$1,940 per tonne on Friday is expected to keep testing US$1,940 per tonne on Monday, March 27.</p> <p>As on March 24, LME official cash buyer price of aluminium stands at US$1,917 per tonne, cash seller & settlement price is US$1,917.50 per tonne, 3M buyer price is US$1,929.50 per tonne, 3M seller price is US$1,930 per tonne, Dec1 buyer price is US$1,965 per tonne, and Dec1 seller price...
<p>Aluminum Corporation of China Limited (Chalco), a state-controlled leading producer of alumina and primary aluminium in China, reported its full-year result for the financial year ended 31 December, 2016. The aluminium giant's net profit more than doubled for the year under review. This marks the second straight year of improved profitability for Chalco which, the producer says is attributable to the recovery in global aluminium prices and production cost cuts.</p> <p>Chalco, one of the world's biggest aluminium producers, posted a net profit of 402.5 million yuan (US$58.5 million) in 2016, up from 148.6 million yuan (revised) in 2015, it disclosed in a filing with the Shanghai stock exchange.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right:...
<p>LME aluminium leapt to US$1,913 per tonne on Thursday's night trading reversing its temporary dip at US$1,910 per tonne on Wednesday as positions and trading volumes improved. However, market watchers believe that the contract has somewhat shed its rising strength. According to Reuters' analysis, LME aluminium is biased to break below a support at US$1,916 per tonne and fall towards the next support at US$1,891. Shanghai Metals Market foresees range-bound trading for the metal with a short-term uptrend. It says LME aluminium will move at US$1,920-1,950 per tonne on Friday, March 24.</p> <p>As on March 23, LME official cash buyer price of aluminium stands at US$1,912 per tonne, cash seller & settlement price is US$1,913 per tonne, 3M buyer price is US$1,922.50 per tonne, 3M seller...
<p>Vedanta Limited, a subsidiary of metal & mining conglomerate Vedanta Resources, has made an announcement today that National Company Law Tribunal has approved the merger of Cairn India Limited with Vedanta Limited.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/vedantacairn.jpg" alt="" width="517" height="226" /></p> <p>It is to be noted that the equity shareholders of Vedanta Resources, Cairn India Limited and Vedanta Limited approved the Scheme of Arrangement of Cairn India Limited with Vedanta Limited in September 2016. The scheme was then subjected to the approval of the jurisdictional High Courts and other regulatory approvals.</p> <p>According to Anil Agarwal, Chairman of Vedanta Resources plc, “the simplified corporate structure...
<p>The Middle East is marching ahead to emerge as the next biggest aluminium market in the world after the U.S. and China. From being an exclusively oil-based economy it has already grown on to establish itself as a key producing region in the global aluminium map. With five of the GCC’s principal aluminium producers manufacturing 5,229,115 tonnes of primary aluminium in 2016 it now constitutes 10 per cent of the total world production. Of the total GCC's aluminium production, 40 per cent is utilised by the downstream aluminium industries in the Gulf while the rest 60 per cent is exported to different parts of the world.</p> <p>{newsStudioGallery}</p> <p>Total export of aluminium (alloyed and non-alloyed ingot) from the Middle East has grown at a moderate rate over the last two...
<p>According to a Platts report, the second-quarter aluminium contract premium has settled at $128 per tonne plus London Metal Exchange cash CIF Japan between a Japanese buyer and an aluminium producer, up 35% from $95 per tonne plus LME cash CIF Japan in Q1. The producers first offered $135 per tonne plus LME cash CIF Japan, which settled down at $128 per tonne after negotiation.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/china%20aluminium.jpg" alt="News" width="517" height="226" /></p> <p>The deal that was agreed upon was for the supply of over 500 ton of P1020A aluminium ingot per month for the period from April to June 2017.</p> <p><br /> <br /> According to Platts’ buyer sources,...
<p>The Asian countries are going slow with their coal-based power project expansion plans. A recent report titled 'Boom and Bust 2017: Tracking the Global Coal Plant Pipeline' says Asian super powers China and India have frozen 68 GW of coal power plant construction at over 100 sites across the two nations. When viewed in the context of the rising prospects of renewable energy, this trend seems to be driven in the right direction.</p> <p>The survey also divulged a parallel trend of ongoing over-investment in coal projects in India. These investments invariably indicate towards a potential waste of capital over the time, the authors of the report- Sierra Club, Greenpeace and Coalswarm opines.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Shandong Qixing Group Co., Ltd, an aluminium producer in China has suspended operations of its 130,000tpy aluminium smelter and is planning to halt operations at its 500,000 tpy alumina refinery due to heavy debt burden, as reported by Aladdiny, a Chinese information provider.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Shandong%20Qixing%20Group.jpg" alt="News" width="517" height="226" /></p> <p>The report also says that the company might consider re-starting production in six months if the market conditions turn favourable. Huge debts have become a serious issue in the Chinese aluminium industry recently as many producers borrowed heavily to expand capacity. Such random capacity...
