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 continuous rise in LME aluminium prices came to a halt as the falling crude oil prices in Asia weighed on the lightmetal contract traded globally. Aluminium prices on the bourse dropped 0.41 per cent from its previous close of US$1,918 per tonne on Tuesday, March 21 to US$1,1910 per tonne on Wednesday, March 22. Reuters' technical analysis infers LME aluminium is neutral in a range of US$1,916-US$1,937 per tonne, and an escape could suggest a direction. According to Shanghai Metals Market forecast, the effect of crude oil prices on aluminium will be only marginal and the contract will keep moving higher in the short term. LME aluminium is expected to move at US$1,910-1,940 per tonne on Thursday, March 23.</p> <p>As on March 22, LME official cash buyer price of aluminium stands at...
<p>President Donald Trump said on Monday, March 20 that he was preparing new executive actions to save coal mining in the U.S. and put miners back to work.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/coal%20miners.jpg" alt="News" width="517" height="226" /></p> <p>"As we speak we are preparing new executive actions to save our coal industry and to save our wonderful coal miners from continuing to be put out of work. The miners are coming back," Trump told in a rally in Louisville, Kentucky, without giving any further ddetails.</p> <p>It is to be noted that coal miners turned out in huge numbers for the 2016 US election. Along with manufacturing workers, coal miners came to represent the condition of working-class white Americans. Donald Trump...
<p>Hindalco Industries, the metals flagship company of the Aditya Birla Group, is planning to commission a 24 Megawatt solar power plant in Odisha, reported sources aware of the matter. The INR 150-crore project will come up at the company's aluminium smelter-power plant site at Lapanga in Sambalpur district.</p> <p>The solar power generated will be utilized by Hindalco for metal production under renewable purchase obligation (RPO). The leading aluminium producer has approached the Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol) for approving the project. The investment promotion agency has sought regulatory clearance Green Energy Development Corporation of Odisha Ltd (Gedcol), the source added. Gedcol is the nodal agency responsible for implementing renewable...
<p>The rising momentum in LME aluminium is continuing. The light metal which crossed the US$1,900 per tonne mark on Friday last week again rose on Tuesday's night trading to close at US$1,918 per tonne, up 0.52 per cent from its previous day's close of US$1,908 per tonne. Reuters observes LME aluminium is neutral in a range of US$1,916-$1,937 per tonne, and an escape could suggest a direction. As per Shanghai Metals Market (SMM) forecast, the contract will move at US$1,915-1,950 per tonne on Wednesday, March 22.</p> <p>As on March 21, LME official cash buyer price of aluminium stands at US$1,916 per tonne, cash seller & settlement price is US$1,918 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$1,963 per tonne, and...
<p>As reported by Platts, China’s MIIT projected a surge in the China’s production of nonferrous metals such as copper, aluminium, lead and zinc by 4.8% YoY in 2017. The rise is equal to 55.37 million tonnes. This announcement was made by the Ministry of Industry and Information Technology in a recent post.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary-aluminium-wbms-metal-news-global-metal-sector-global_77201.jpg" alt="news" width="517" height="226" /></p> <p>According to the MIIT’s projection, aluminium would lead the primary targets among other nonferrous metals as the China government has always listed aluminium together with steel, coal, glass and cement.</p>...
<p>Power prices for the aluminium producers in China's Guizhou province will be raised by 0.07-0.08 yuan per kilo watt hour (kwh) from April this year, reported industry sources. The decision is seen by the industry watchers as a logical one since coal has become costlier over the past six months.</p> <p>Power prices, after the hike, will increase to 0.36 yuan /kwh for Guizhou aluminium producers.</p> <p>Shanghai Metals Market estimates the hike will take power costs at the at Guizhou aluminium smelters to 900-1,200 yuan per tonne leading to escalating losses at current aluminium prices.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/goizhou.jpg" alt="News" width="517" height="343" /></p> <p>At...
<p>LME aluminium has cleared a support at US$1,916. The contract inched higher during Monday's night trading hours closing at US$1,908 per tonne, up 0.36 per cent from the previous close of US$1,901 per tonne. Reuters observes LME aluminium is now up for a fall to US$1,891 per tonne- the next support and an immediate target. As per Shanghai Metals Market forecast, the lightmetal will move in the range of US$1,910-1,930 per tonne on Tuesday, March 21, "hurt by other weak metals."</p> <p>As on March 20, LME official cash buyer price of aluminium stands at US$1,907.50 per tonne, cash seller & settlement price is US$1,908 per tonne, 3M buyer price is US$1,923 per tonne, 3M seller price is US$1,924 per tonne, Dec1 buyer price is US$1,957 per tonne, and Dec1 seller price is US$1,962 per...
<p>In a recent update, India's Adani Enterprises said it would finalise the investment decision for its Carmichael coal project in Australia by June. The project has been delayed for last five years due to protests from environmental groups. The proposed mine in the northern state of Queensland is expected to export coal to India. The environmentalists felt that the project will require a mega-port expansion into the Great Barrier Reef World Heritage Area to export the huge amount of coal to India.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/adani%20project.jpg" alt="News" width="517" height="226" /></p> <p>Gautam Adani, chairman of the company said that he expected the project to...
<p>Coal India's subsidiary Central Coalfields Ltd (CCL) is planning to invite an expression of interest for coal-to-liquid (CTL) project which the company proposes to embark upon, as reported.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/dc-Cover-g58vrmil1ohj5a7ogi5ot2cnm5-20161109152048.Medi.jpeg" alt="news" width="517" height="226" /></p> <p>Coal to liquid means converting coal into liquid fuel that can be used as automobile fuel. It can also be used as an alternative for imported petroleum oil.</p> <p>Coal India's Chairman Sutirtha Bhattacharya said, "Central Coalfields is planning to embark on a coal-to- liquid project in Chatra district (Jharkhand). We have authorised them to invite expression of interest."</p> <p>Coal India has...
<p>Chairman of Vedanta Resources, Anil Agarwal announced his plans to buy as much as $2.4 billion or 13 per cent of Anglo American Plc shares in the market after a failed merger proposal last year. The purchase will make Agarwal the second-largest shareholder after South Africa’s Public Investment Corp.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/anil%20agarwal.jpg" alt="News" width="517" height="226" /></p> <p>The purchase will take place through a mandatory exchangeable bond issued by Vedanta’s holding company, Volcan Investments, and secured by Anglo’s shares, a statement confirmed on Wednesday.</p> <p>“It gives him an extremely good seat at the table if there is...
<p>LME aluminium crossed the US$1,900 per tonne mark for the second time this year as the US dollar stayed soft on Friday, March 17. The contract closed at US$1,901 per tonne after night trading, edging higher by 0.31 per cent from its previous close of US$1,895 per tonne on Thursday. As Reuters observes, LME aluminium is neutral in a range of US$1,891-US$1,916 per tonne, and an escape could suggest a direction. Shanghai Metals Market predicts, the contract will hover at highs on Monday, March 20, and will trade at US$1,890-1,943 per tonne.</p> <p>As on March 17, LME official cash buyer price of aluminium stands at US$1,900 per tonne, cash seller & settlement price is US$1,901 per tonne, 3M buyer price is US$1,910.50 per tonne, 3M seller price is US$1,911 per tonne, Dec1 buyer price...
<p>LME aluminium had a bumpy ride this week. The lightmetal, finding applications in a wide range of industries- from smartphones to spacecraft, felt the ripple effect that was generated ahead of the Federal Reserve’s meeting on interest rate decisions. LME aluminium opened the week at US$1,880 per tonne range and then came down to close at US$1,851 per tonne on Tuesday, March 14, as the US dollar index rose prior to the Fed’s meeting on Wednesday. The contract gained again after the Fed raised the interest rate and the US dollar index tumbled. Though the analysts say the dollar index is on its way to resuming its uptrend, the base metals are still drawing in strength from its lows.</p> <p>LME aluminium has risen to close at US$1,901 per tonne after Friday’s night...
<p>The Aluminum Association has released a joint letter along with the Aluminium Association of Canada and European Aluminium prior to the upcoming G-20 summit requesting the formation of a Global Forum to address global aluminium overcapacity. At the upcoming G-20 Hamburg Summit in Germany, global leaders will discuss challenges to global economic growth, stability and security, and digitization.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/bars.png" alt="News" width="517" height="226" /></p> <p>A series of discussions and arguments has taken place over the year culminating in the formation of a coalition to fight against over capacity and to facilitate fair competition among global...
<p>Norsk Hydro has published its annual report for 2016 with detailed information about Hydro's businesses, operational performance, financial performance, viability performance, corporate governance and financial statements.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/hydro%20result.png" alt="News" width="517" height="226" /></p> <p>Hydro reported revenue of NOK 81,953 million for the full year 2016, in comparison to NOK 87,694 in 2015. Underlying EBIT decreased to NOK 6,425 million compared with NOK 9,656 million in 2015 primarily due to a decrease in realized alumina prices and all-in metal prices. For the full year 2016, reported earnings before financial items and tax amounted to...
<p>According to a report of India Ratings and Research, the base metal sector is likely to register a surplus market on account of new capacity ramp-up amid weak demand for the next financial year. In India, the production capacity of aluminium is expected to be more or less double in FY18.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/20150601112226_2987.jpg" alt="news" width="517" height="226" /></p> <p>An increase in coal prices worldwide had led a positive impact on base metal prices though the consumption of metal has weakened.</p> <p>The report stated that the increase in demand of base metal from the US due to investment in infrastructure projects will not fully offset the shrinkage in...
<p>UC RUSAL the leading global aluminium producer from Russia, announces its results for the full year ended 31 December 2016.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusal2.jpg" alt="News" width="517" height="226" /></p> <p>RUSAL’s revenue for the year ended 31 December 2016 decreased by 8.0% to USD 7,983 million as compared to USD8,680 million for 2015 attributed to the decrease in the average LME aluminium price from USD1,663 per tonne in 2015 to USD1,604 per tonne in 2016 and a 43.4% drop in premiums. However, the LME aluminium price increased by 14.4% YOY to USD1,710 in the fourth quarter of 2016 and this together with the 5.3% growth in aluminium sales volumes resulted in the increase in revenue by 9.2% to USD2,027 million...
<p>LME aluminium prices have gained further as the US dollar index fell after the Federal Reserve announced on March 15 that it raised its benchmark interest rate. The contract closed at US$1,895 per tonne after Thursday's night trading, up 1.71 per cent from its previous day's close of US$1,863 per tonne. However, the downside momentum in the US dollar index seems to have subsided as it neared a strong support. This could indicate at a near-term fluctuating phase for LME aluminium. As shanghai Metals Market finds it, the contract is likely to fluctuate in the range of US$1,880-1,916 per tonne on Friday, March 17, still higher than its current trading brand.</p> <p>As on March 15, LME official cash buyer price of aluminium stands at US$1,894.50 per tonne, cash seller & settlement...
<p>Indian Navaratna public sector enterprise National Aluminium Company Limited (NALCO) is eyeing return to profitability from its Aluminium business towards the end of fiscal year 2018-19 after the commencement of coal production at its captive Utkal D coal block. The starting of coal mining is expected to pull down power cost significantly making aluminium smelting more profitable for the company.</p> <p>Power cost alone accounts for 40 per cent of NALCO's overall aluminium production cost. Despite being one of the world's lowest cost producer of alumina (key electrolytic component for aluminium smelting through Hall-Héroult process), NALCO has always found it difficult to contain its cost of production due to escalating power cost. The aluminium major's CoP for hot metal stands...
