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 an anonymous media source from Vietnam, Lam Dong Aluminium-Bauxite Complex that has recently published its results has incurred a loss of nearly VND3.7trn ($62m) after three years of operation.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Lam%20Dong%20Aluminium-Bauxite%20Complex.jpg" alt="News" width="517" height="226" /></p> <p>An inspection has been carried out at the facility and the conclusion is that it had not been productive and investment costs had increased much higher than estimated. Originally, the investment for the project was VND7.7trn (USD337m) and was expected to be completed in 2009.</p> <p>The complex was expected to produce 600,000 tonnes of alumina per year...
<p>Aluminium prices on the London Metal Exchange (LME) got a boost from the falling US dollar after Federal Reserve announced interest rate hike at the conclusion of this month’s FOMC meeting on Wednesday, March 15. LME aluminium closed at US$1,863 per tonne after Wednesday's night trading, rising 0.64 per cent from Tuesday's close of US$1,851 per tonne. As per Shanghai Metals Market (SMM) forecast, the contract will trade higher at US$1,876-1,900 per tonne on Thursday, March 16.</p> <p>As on March 15, LME official cash buyer price of aluminium stands at US$1,862 per tonne, cash seller & settlement price is US$1,863 per tonne, 3M buyer price is US$1,875 per tonne, 3M seller price is US$1,875.50 per tonne, Dec1 buyer price is US$1,912 per tonne, and Dec1 seller price is US$1,917...
<p>According to numbers just released by the Iranian Mines and Mining Industries Development and Renovation Organization, Iran delivered over a quarter billion tons of mineral products through the first eleven months of the Iranian year.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/High_Purity_Primary_Aluminium_Ingot.jpg" alt="news" width="517" height="226" /></p> <p>The country’s overall mineral production for the first eleven months of the year totaled 284 million metric tons. Output for Bahman, the eleventh month of the year, fell by 7% month-on-month, totaling 24.9 million metric tons.</p> <p>Iran’s aluminium sector turned out 269.915 tons of aluminium ingots for the first...
<p>After experiencing a bullish run since the beginning of 2017, LME aluminium dropped below the 40-day moving average for the first time, indicating bearish trends. After dropping down to USD 1,882 per tonne on Monday, March 13, LME aluminium closed at $ 1,851 per tonne on Tuesday, March 14 registering 1.6% drop from last closing price. As seen by SMM, LME aluminium is expected to trade at USD 1,840-1,870/mt on Wednesday.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/lme15march.png" alt="News" width="517" height="226" /></p> <p>As on March 14, LME official cash buyer price of aluminium stands at US$1850 per tonne, cash seller & settlement price is US$ 1851 per tonne, 3M buyer price is US$...
<p>Emirates Global Aluminium (EGA), one of the world’s five largest primary aluminium producers, have decided to test the use of a by-product of aluminium smelting in Arkan’s cement plant in Al Ain. The company intends to re-use all its spent pot lining in the UAE.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/ega-and-arkan.jpg" alt="news" width="517" height="226" /></p> <p>Abdulla Kalban, Managing Director and Chief Executive Officer of EGA, said: “Many in the aluminium industry see spent pot lining as a problem, but we see it as an economic and environmental opportunity. Using spent pot lining in cement manufacturing is a win-win for both industries and for the country, and contributes to achievement of the economic...
<p>The Aluminum Association, in cooperation with the Aluminium Association of Canada has reported the total primary aluminium production in North America in February.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/North%20america%20primary%20production.png" alt="News" width="373" height="259" /></p> <p>The combined aluminium production in the U.S. and Canada was at an annual rate of 3,963,809 tonnes during February 2017. This records a slight drop of about 5,095 tpy (-0.1%) from the production rate in January 2017.</p> <p></p> <p>The production rate in the U.S. was essentially unchanged month on month, while the Canadian rate dropped two-tenths of one %. Compared to a year ago, the North...
<p>Canada’s primary industry has been an integral part of the North American aluminium industrial value chain since its inception and a substantial part of its annual output is exported to the USA every year. According to the latest report from The Aluminium Association of Canada (AAC), the country produces about 3.2 million tonnes of aluminium in a year. The country remains a net exporter of aluminium. The major aluminium producers in Canada include Alcoa Inc., Aluminerie Alouette Inc. and Rio Tinto Alcan. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/exportimport%20canada.jpg" alt="News" width="517" height="226" /></p> <p>Canada has been following an almost flat trend...
<p>After a quick rise to USD 1,885 per tonne on Friday March 10, LME aluminium closed slightly lower at $ 1,882 per tonne on Monday March 13. As seen by SMM, LME aluminium will test support at the 5-day moving average on Tuesday and will trade at USD 1,870-1,895/mt.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME14.png" alt="News" width="517" height="226" /></p> <p>As on March 13, LME official cash buyer price of aluminium stands at US$1881 per tonne, cash seller & settlement price is US$ 1882 per tonne, 3M buyer price is US$ 1894 per tonne, 3M seller price is US$ 1894.50 per tonne, Dec1 buyer price is US$ 1935 per tonne, and Dec1 seller price is US$ 1940 per tonne. The current LME...
<p>Bell Bay Aluminium, located in Tasmania, Australia, has raised concerns over increased and uncompetitive gas prices due to hiked in Australian exports and restrictions on exploration. The company consumes substantial amount of Tasmanian gas.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/hAGvbnFf54252vL6kKMC-med.jpg" alt="news" width="517" height="226" /></p> <p>Bell Bay Aluminium smelter produces 190,000 of aluminium per annum. It is owned and operated by Pacific Aluminium, a wholly owned subsidiary of Rio Tinto Alcan.</p> <p>Ray Mostogl, general manager of Bell Bay Aluminium, said, “Current state and federally legislated mechanisms which were intended to create optimum...
<p>After a steady rise to hit US$1,934 per tonne on March 1, on the news of China’s alumina and aluminium capacity cut orders for 28 cities, aluminium started a downward trend as a standard technical correction and with decline in crude oil prices. LME aluminium rallied on last Friday March 10, but met strong resistance at USD 1,900 per tonne. Finally, on a positive move, aluminium closed 2.0% higher at USD1,884.50 per tonne, staging a come back from USD1,847.00 per tonne on Thursday March 10.</p> <p> <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/lme%20priceMarch13.png" alt="News" width="517" height="226" /></p> <p>As seen by SMM the LME aluminium contract will move at USD 1,870-1,895/mt...
<p>This week aluminium prices came down from its earlier highs of US$1,990 per tonne to move in the range of US$1,865-1,845 per tonne. Aluminium contract traded on the London Metal Exchange (LME) opened the week at US$1,868 per tonne on Monday, March 6 and then came down to close at US$1,847 per tonne on Thursday (after night trading), March 9. The price fall has been 4.49 per cent from this year's highest of US$1,934 per tonne on March 1. A rise in the US dollar strength put base metal prices under pressure globally.</p> <p>LME official Opening Stock of aluminium was estimated at 2160925 tonnes at the beginning of the week. As on March 9, the stock came down at 2084800 tonnes. LME aluminium premiums remained largely unchanged across major geographical regions in the past week. Only LME...
<p>The week has seen a few major happenings in the primary aluminium industry. Hindalco has created stir in Indian market by launching QIP.</p> <p><strong>Hindalco's first share sale through QIP generates 3X demand</strong></p> <p>India's first ever metal industry share sale through qualified institutional placement (QIP) floated by Hindalco Industries generated overwhelming response in the market last week. Institutional investors lapped up the shares which went on to reinforce their confidence in the aluminium major’s manufacturing success. Hindalco Industries Ltd raised US$550 million over the last weekend through the QIP.</p> <p>The QIP- the largest non-bank issue since Indiabulls’s QIP in 2015, saw demand surging more than 3 times and exceeded US$1.5 billion, reported...
<p>A feasibility study for the 10th generation Technology Pilot Section project of Emirates Global Aluminium (EGA) is presently being conducted by the SNC-Lavalin. The EGA’s technology team has already finished design and detailed engineering work for this project.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/ega.jpg" alt="news" width="517" height="226" /></p> <p>The feasibility study focuses on defining the project and validates the budget so that the company can unveil its execution phase of the pilot section. The 10th generation Technology Pilot Section project is located at EGA's Al Taweelah aluminium site in Abu Dhabi, UAE and the study will be carried out at this region.</p>...
<p>The winter is slowly over and brighter days are ahead. The aluminium industry has experienced some of the brightest days in the month of February till the first week of March. LME aluminium closed at $ 1,934 per ton on March 1 Wednesday, the highest in 2017 till date and 35% higher than the trough seen in late 2015. This is all more a reason to attend the events in the month of March, hunt new business opportunities and reap the benefits of rising aluminium prices. The End-User market is ever growing and expected to drive aluminium demand over the year. Here is a list of the major aluminium events in the month of March that are expected to draw a large number of aluminium players around the world.</p> <p><strong>1. </strong><strong>Window Door...
<p>Aluminium contracts traded on the London Metal Exchange (LME) and major commodity exchanges of Shanghai kept diverging on Thursday. While LME aluminium dropped after rising at US$1,881 per tonne on Wednesday, Shanghai Metal Exchange (SME) benchmark price of aluminium edged higher at US$1,957 per tonne on Friday, March 10. LME aluminium closed at US$1,847 per tonne on Thursday, March 9, down 1.8 per cent from the previous day's close. Shanghai Metals Market (SMM) in its forecast says the contract will find support at the 40-day moving average and trade at US$1,860-1,890 per tonne on Friday.</p> <p>As on March 9, LME official cash buyer price of aluminium stands at US$1,846.50 per tonne, cash seller & settlement price is US$1,847 per tonne, 3M buyer price is US$1,855 per tonne, 3M...
<p>Airlangga Hartarto, Minister of Industry, has announced that the government will develop a smelting facility in North Kalimantan in Indonesia. Presently, Indonesian government has not utilized the regions alumina and bauxite potentials in Kalimantan.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/smelting.jpg" alt="news" width="517" height="226" /></p> <p>"Mining activities can be done in Papua, Maluku or other East Indonesia regions, but the smelting process will be conducted in North Kalimantan. Its location is strategic for shipping to other continents, such as Australia, Asia, South Africa and America," Airlangga said after attending North Kalimantan Investment Forum 2017...
<p>India's first ever metal industry share sale through qualified institutional placement (QIP) floated by Hindalco Industries generated overwhelming response in the market last week. Institutional investors lapped up the shares which went on to reinforce their confidence in the aluminium major’s manufacturing success.</p> <p>The QIP- the largest non-bank issue since Indiabulls’s QIP in 2015, saw demand surging more than 3 times and exceeded US$1.5 billion, reported sources aware of the matter.</p> <p>Hindalco had priced the QIP at a premium of 2.7 per cent to the Sebi floor price of INR 184 per share. The Capital Raising Committee of the company at its meeting held on 08th March 2017, inter alia, passed the following resolutions:</p> <ul> <li>Approved the closure of the issue...
<p>Taiwan’s GDP has increased 2.6% year-on-year in Q4 2016, accelerating from the 2.0% increase in Q3, marking the fastest pace of growth since Q2 2015. For the full year 2016, Taiwan’s economic growth was 1.4%, strengthening from the 0.7% expansion in 2015. The government expects GDP to expand 1.9% in 2017. With the growth in GDP, aluminium consumption is increasing at a faster speed.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/taiwan1.jpg" alt="News" width="517" height="226" /></p> <p>The country ranks second in per capita aluminium consumption with a rate of about 33.3 kg. The island country has seen significant demand growth for aluminium alloy on the island....
