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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Highlands and Islands MSP John Finnie has held talks with the owners of the Rio Tinto Alcan aluminium smelter at Fort William, amid fears for its future. The Canada-based metals and mining giant is undertaking a review of its assets, including the smelter, which employs about 150 people, a hydroelectric power station at Kinlochleven and 116,000 acres of mountain terrain in Lochaber. Senior management from the firm’s Montreal headquarters visited the Scottish Parliament for talks with the independent MSP and others. Finnie said: “I was impressed by the open nature of our meeting which mirrored an earlier conversation with the local manager, Brian King. Like every listed company, Rio Tinto has an obligation to its shareholders. However, I impressed on them the very significant social...
Norwegian aluminium company Norsk Hydro ASA's fully owned subsidiary Hydro Energi AS has signed a long-term power contract with Nordic Wind Power DA, a Norwegian wind power consortium, for annual baseload supply of between 0.6 and 1 TWh in the period from 2020 to 2039. "We are happy to contribute to realizing the Fosen wind power project, the largest onshore wind power project in Europe, ensuring safe industrial offtake for around a third of the annual production capacity for a significant time period," says President and CEO Svein Richard Brandtzæg. "This demonstrates the synergies between industry development in Norway and developing renewable energy sources", says Brandtzæg. The contract covers annual supply of around 0.6 terawatt hours (TWh) during 2020, around 1.0 TWh annually in the...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium smelter, announced that it has upgraded the technology for its Line 6 Expansion Project from EGA DX+ to the EGA DX+ Ultra. The signing ceremony was held in Dubai on February 23, 2015 and was attended by Alba’s Director for Line 6 Smelter Project and Engineering, Shawqi Al Hashimi and Emirates Global Aluminium’s Abdulla Kalban (MD & CEO), Dr. Ali Al Zarouni (Senior Vice President, Jebel Ali Operations, Technology Development & Transfer) and members of the EGA Technology Development & Transfer department. The upgrade to the EGA DX+ Ultra Technology will boost Alba’s production to 540,000 metric tonnes per annum (mtpa), an increase of 26,000 mtpa versus prior projections. This will bring Alba's total...
LME aluminium is expected to test resistance at $1,563 per tonne, with a good chance of breaking above this level and rising more to the next resistance at $1,581. These resistances are identified respectively as the 86.4 percent and the 100 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the January 7 low of $1,451.50. This wave is capable of travelling to $1,581. A triangle forming between December 24, 2015 and February 19 has been confirmed as a bullish pattern, suggesting an aggressive target at $1,610. A break below $1,549, now a support, could cause a loss to $1,537, a support provided by the upper trendline of the triangle.
LME aluminium is expected to test resistance at $1,563 per tonne, with a good chance of breaking above this level and rising more to the next resistance at $1,581. These resistances are identified respectively as the 86.4 percent and the 100 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the January 7 low of $1,451.50. This wave is capable of travelling to $1,581. A triangle forming between December 24, 2015 and February 19 has been confirmed as a bullish pattern, suggesting an aggressive target at $1,610. A break below $1,549, now a support, could cause a loss to $1,537, a support provided by the upper trendline of the triangle.
Aluminium Bahrain B.S.C. (Alba), a leading international aluminium smelters based in the Kingdom of Bahrain, held a series of workshops titled ‘Cost Rationalisation and Cost Realignment Strategies’ with the aim to accelerate its efforts towards remaining cost competitive. The workshops were delivered by a specialist from French Arabian Business School (FABS) in partnership with ESSEC. Speaking about this workshop, Alba’s Chief Executive Officer, Tim Murray said, "Given the challenges faced by the aluminium industry, Alba must reinvent itself to stay cost competitive. One of the ways to achieve such alignment is through training, which will bring synergy to the bottom line results.”
For the fifth consecutive year, lightweight metals engineering and manufacturing leader Alcoa has been named the most admired metals company by Fortune magazine in its annual ranking on corporate reputation. Alcoa has been on Fortune’s Most Admired List since the publication began the annual ranking more than 30 years ago. In addition, Alcoa received top scores in all key attributes: innovation, people management, social responsibility, use of corporate assets, quality of management, financial soundness, long-term investment value, quality of products and services, and global competitiveness. “This award is a credit to our talented employees around the world,” said Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld. “Alcoa employees everywhere continue to work tirelessly to ensure...
About 71% of the 28 Chinese aluminium smelters surveyed by SMM are bullish over aluminium prices this week. These optimists expect SHFE 1604 aluminium to rise to RMB 11,350-11,500/mt and LME aluminium to rise above USD 1,580/mt, citing a series of positive factors. 1. Longs have been prevailing in SHFE aluminium market recently, with KDJ pointing upward. 2. Aluminium stocks in China’s major markets grew slower after this year’s Chinese New Year holiday than those seen after last year’s Chinese New Year holiday because of production cuts. 3. Commissioning of new capacity and restart of idled capacity did not pick up pace rapidly in February, despite rising aluminium prices. 3. Demand will pick up as processors return after Lantern Festival. The rest 29% see SHFE 1604 aluminium holding...
Landsvirkjun, the Iceland-based power producer, saw its net profit grow by 7.4 per cent year on year in 2015 to USD 84.2 million (EUR 76m), even though the prices of aluminium have been falling since the last couple of quarters. Operating revenue was USD 421.5 million, down by 3.8 per cent compared to the previous year. The results are remarkable because aluminium manufacturing has always been a mainstay for power producers in the country. The state-owned company, which operates hydropower, geothermal and wind power plants, sold 13.9 TWh, a record for it. To meet demand, it is building a new geothermal power plant at Theistareykir and plans to start construction of an expansion of Burfell hydro power plant this spring. “Despite a challenging environment in most commodity and energy...
Aluminium prices surged 4 per cent last week, with the spot price on the London Metal Exchange (LME) closing on a stronger note at $1,562 per tonne on Friday. This is just above an important resistance at $1,560. The metal is up about 10 per cent from its low of $1,423 made in November 2015. Between May and November 2015, aluminium spot prices had plummeted over 27 per cent from a high of $1,959. On the domestic front, the aluminium futures contract traded on the Multi Commodity Exchange (MCX) rose 5 per cent last week to close at INR107.65 per kg. This contract moves in tandem with the LME spot price. A weakening rupee, against the dollar, is providing additional support to the domestic futures contract. Prices of most metals have been strengthening in the global markets due to the...
A massive overhang of aluminium stocks, mostly due to rising Chinese production, is set to cap a tentative price recovery triggered by large output cuts. Last year plummeting prices and squeezed margins led to production cuts of around 5.5 million tonnes with the bulk, about 4 million tonnes, in China. Benchmark aluminium on the London Metal Exchange hit $1,432.50 a tonne last November, the lowest since May 2009. Prices of the metal used in transport and packaging have since recovered to around $1,500 a tonne, but a stronger rally may only encourage producers to restart idled output capacity. Large surpluses are due to a ramp-up in China, which accounted for nearly 55 percent of global supplies of around 57 million tonnes last year. "We think prices will stay around the $1,400/$1,500...
Taking positive cues from global market and strong demand at domestic spot markets, aluminium prices edged up 0.52 per cent to INR 105.80 per kg in futures trade today as participants enlarged positions. Marketmen said increased domestic demand and a firming global trend where base metals gained with optimism that demand will recover in China after the government signaled increased support for the economy through higher spending and new measures to boost bank lending, helped aluminium futures to trade higher. At the Multi Commodity Exchange, aluminium for delivery this month inched up by 55 paise or 0.52 per cent to INR 105.80 per kg in a business turnover of 116 lots. Likewise, the metal for delivery in March traded higher by 35 paise, or 0.33 per cent, to INR 105.85 per kg in five lots.
Century Aluminum still hopes state lawmakers will find a way to cut electricity costs at its Mount Holly smelter, but a shutdown by the end of May is looming. “We are working intently to produce a power-supply arrangement that makes this world-class plant competitive for the long term,” Mike Bless, the company’s president and CEO, said Thursday after Century announced its quarterly and annual earnings. Bless told investors during a conference call that Century must know by the end of next month whether there will be a legislative solution to Mount Holly’s electric costs. The company has arranged to buy power for the Berkeley County site only through May and could give the required 60-day notice to cancel its contract with state-owned electric utility Santee Cooper by the end of March....
LME aluminum is on track for gains next week on improved market sentiment, SMM says. LME aluminum should rise to $1,520-1,560 per tonne. SHFE aluminum will advance to 11,100-11,400 per tonne, due to anticipation for a turnaround in aluminum consumption after the week-long holiday. Besides, aluminum stocks in major markets grew slower than post-holiday levels seen last year. Spot discounts in China will narrow to 150 yuan per tonne, thanks to returning of aluminum processors from the holiday.
The Victorian Greens have called on aluminium producer Alcoa to publicly declare if the Portland smelter, in the state's west, can remain viable without a state subsidy. A 20-year power deal, providing the company with subsidised electricity at a price linked to the London Metal Exchange, is due to expire this year. The company last week confirmed it had made a failed bid to secure a transmissions discount from the Australian Energy Market Operator. Greens' leader Greg Barber said Alcoa must be clear if the smelter had a future without subsidies. "If they lose the subsidy, does that mean it's all over or do they have some other plan?" he said. "Please let the community know, we don't want to be reading about it the morning after. "What's important is that Alcoa has to actually say what...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium smelter, has further strengthened its senior leadership team with the appointment of Amin Sultan as the Acting Chief Operations (COO), effective immediately. Welcoming Amin Sultan into the executive team, Alba’s Chief Executive Officer, Tim Murray said: “Amin is another great example of Alba developing people from within the company. Amin, with his two-decade long experience and MBA background has a proven track record. I look forward to challenging Amin and see him rise to the next level of leadership.” Mr. Sultan joined Alba in 1997 as an Engineer in power station following which he was promoted to Superintendent in 2004, and from 2008 onwards, served as Manager and Senior Manager in power maintenance and...
Chalco will make efforts in raising its share of captive power in the future, updated a source from the company. The source said Chalco is just about 30% reliant on captive power, well below average industry level, with some aluminium smelters even entirely reliant on captive power. The company will make efforts in coal-electricity-aluminium integration and captive power plant construction in the future, the source added. Chalco’s latest report showed it expects to register a net profit of around 200 million yuan in 2015, a sharp reversal from a staggering loss of 16.22 billion yuan in 2014.
The latest report published by the World Bureau of Metal Statistics (WBMS) indicates that global primary aluminium market has recorded a deficit during the year 2015. As per the report, the market reported a deficit of 356,000 tons when matched with the deficit of 589,000 reported during entire year 2014. The production of primary aluminium was up by 8% during the entire year when matched with the previous year. The global production rose by 4,103 kt during this period, when compared with a year ago. The total reported stock of metal has declined further by 6,000 tonnes during the month of December 2015. The stocks at the end of the year stood at 3,783 kt, which is sufficient to meet 24 days demand. It must be noted that the stock levels at the end of 2014 had stood at 5,020 kt. The...
