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>As reported by Reuters, three major aluminium producers, South32 Ltd, Rio Tinto Ltd and UC Rusal have offered aluminium premium of $135 per tonne to Japanese buyers for shipments in the April to June quarter. According to sources from the pricing sector, this records a 42% increase from previous quarter. This offer would mark the second quarterly increase continuously. The increase is driven by rise in premiums in the United States and Europe and falling inventories Japan due to solid local demand.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium-Ingot.jpg" alt="News" width="517" height="226" /></p> <p>Japan is Asia's biggest importer of aluminium and the premiums it agrees to pay...
<p>China's primary aluminium output is clearly on the rise. Despite news in the international media about the Chinese government halting production at many smelters to curb pollution, the first-hand production data collected by Shanghai Metals Market from the country's major aluminium smelters shows aluminium production in February this year has risen from the year ago period by 21.1 per cent to reach 2.838 million tonnes. The cumulative production for the last two months of the current calendar year stands at 5.876 million tonnes, up 21.6 per cent from the corresponding period previous year.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/ChinalauminiumFebOutput.jpg" alt="News" width="494"...
<p>The falling LME aluminium found support at US$1,857 per tonne and edged higher reversing its week-long downtrend. The contract closed at US$1,881 per tonne during Wednesday's night trading, rising 1.28 per cent from its previous day's close of US$1,858 per tonne. As Shanghai Metals Market (SMM) finds it LME aluminium will trade at US$1,860-1,886 per tonne on Thursday, March 9, meeting resistance at the 5, 10 and 20-day moving averages.</p> <p>As on March 8, LME official cash buyer price of aluminium stands at US$1,880.50 per tonne, cash seller & settlement price is US$1,881 per tonne, 3M buyer price is US$1,888.50 per tonne, 3M seller price is US$1,889 per tonne, Dec1 buyer price is US$1,933 per tonne, and Dec1 seller price is US$1,938 per tonne. The current LME official Opening...
<p>India’s leading aluminium producer Hindalco Industries Ltd raised US$550 million over the last weekend through a major stock offering launched on Friday, March 3. The qualified institutional placement (QIP), the country’s first ever metal sector share sale using the vehicle, saw noted foreign investors such as Goldman Sachs AMC, East Spring, Jardine Fleming Asset Management (JFAM), Fidelity, Halbis, Blackrock, and Bajaj Allianz participating in the offering. The offering also bought in to the QIP prominent mutual funds from India, namely HDFC Mutual Fund, Tata Mutual Fund, SBI Mutual Fund, and Birla Mutual Fund.</p> <p>Floor price for the QIP was set at INR 184.45 per share.</p> <p>According to the term sheet of the QIP offer, the money raised will be used for business...
<p>The Minister of Finance, Ghana, Mr Ken Ofori-Atta, has expressed the government’s desire to fast-track economic development of the country during the presentation of the 2017 budget statement on Thursday. Mr Ofori-Atta said the government has decided to develop an integrated aluminium industry through six stages.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/ken-ofori-atta-1200x520edit.jpg" alt="News" width="517" height="226" /></p> <p>The first stage would be the development of the bauxite mines in Awaso, Nyinahin and Kyebi. The second will be the establishment of an alumina refinery at one of the bauxite sites. The government eyes Kyebi mines because of its closest proximity to...
<p>The downtrend in LME aluminium prices continued till Monday's trading hours until the contract found support at 40-day moving average of US$1,857 per tonne. The closing price on Tuesday, US$1,858 per tonne, was 0.53 per cent higher than the previous day's closing at US$1,868 per tonne. Reuters predicts LME aluminium will clear a resistance at US$1,880 per tonne and edge higher at US$1,920 per tonne on Wednesday, March 8. According to Shanghai Metals Market (SMM) forecast, LME aluminium will trade at US$1,870-1,895 per tonne on Wednesday.</p> <p>As on March 7, LME official cash buyer price of aluminium stands at US$1,857 per tonne, cash seller & settlement price is US$1,858 per tonne, 3M buyer price is US$1,866 per tonne, 3M seller price is US$1,867 per tonne, Dec1 buyer price is...
<p>Pferd’s line of ALU/NF Cut carbide burs are said to provide special benefits in aluminium applications. The carbide burs can effectively process material ranging from soft non-ferrous metals, such as aluminium alloys, brass, copper or tin to harder variants, such as titanium, titanium alloys, bronze, and alloys with a high SiC content.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/carbide%20burs.jpg" alt="News" width="517" height="226" /></p> <p>The ALU/NF Cut family contains burs in a variety of shapes and dimensions, with shank diameters in 1/8" and ¼" (3 and 6 mm), and bur diameters ranging from 1/8" to 5/8" (3 to 16 mm). The burs are characterized by high...
<p>Europe’s major aluminium market is Germany, which is home to the world’s largest automakers. Germany accounts for about 25% of total aluminium consumption in Europe and the country ranks first in the world with per capita aluminium consumption of 42.1 kg.</p> <p>{newsStudioGallery}</p> <p>Germany is not a leading producer of primary aluminium. The primary smelters produce about 700,000 tons of primary aluminium and the country imports most of its aluminium to feed its domestic downstream industries.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/germany%20alu%20import1.jpg" alt="News" width="517" height="226" /></p> <p>Germany imported <strong>2.4 million</strong>...
<p>The US dollar Index stabilized following Friday's decline last week. The DXY was modestly higher on Monday, holding near 101.59, an increase of 0.04 per cent from previous day's close. The upside in greenback caused base metals to slip further down the price curve across major bourses of the world. LME aluminium closed at US$1,868 per tonne after night trading on Monday, down 2.14 per cent from last week's closing at US$1,909 per tonne on Friday. As Shanghai Metals Market (SMM) finds it the contract will test support at the 40-day moving average and move at US$1,850-1,885 per tonne on Tuesday, March 7.</p> <p>According to Reuters' analysis, LME aluminium has found a support at US$1,857 per tonne, it is expected to hover above this level or bounce towards a resistance at US$1,920.</p>...
<p>Aluminium prices on London Metal Exchange continued its journey downward after crude oil displayed a mixed undertone for third day on the back of record inventory rise in the US. The contract closed at US$1,909 per tonne after Friday's night trading, down 1.03 per cent from the previous day's closing of US$1,929 per tonne. Shanghai Metals Market (SMM) in its forecast says LME aluminium will trade further lower at US$1,884-1,912 per tonne on Monday, March 6.</p> <p>According to Reuters' morning analysis, LME aluminium will likely test support at US$1,857 per tonne, a break below which could result in a loss to the next support at US$1,833 per tonne.</p> <p>As on March 3, LME official cash buyer price of aluminium stands at US$1,907 per tonne, cash seller & settlement price is...
<p>AlCircle presents a weekly recap to get you up-to-date with the global primary aluminium industry’s headlines. We have seen many companies announcing their Q4 and yearly results and sharing their outlook on the coming quarters. Let’s catch up with the following top stories from the past week.</p> <p><strong>EGA’S net profit increases by 10 percent in 2016 </strong></p> <p>Emirates Global Aluminium (EGA) has announced its 2016 net profit reports indicating a hike of 10 per cent with 2.1 billion dirhams ($572 million) profit despite of low in the revenue. EGA’S aluminium production increased by 2.5 million tonnes in 2016 compared to 2.4 million tonnes in 2015, as per company reports. </p> <p><img style="vertical-align: middle; display: block; margin-left:...
<p>Indian metal and coal stocks were up on March 2 after the news of China imposing cuts on steel, aluminium and coal production started circulating in the market. A drop in supply of these highly demanded commodities are expected to hike prices and improve valuations of companies in countries which are in competition with China.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminium.png" alt="News" width="517" height="226" /></p> <p>The BSE metal index was up 1.5% to hit 12,306.54 in intraday trade in a firm Mumbai market.</p> <p>National Aluminium (Nalco) stocks jumped as much as 7% while Vedanta gained 3%, Hindalco and Coal India gained 1% respectively.</p> <p>As reported by Reuter, on...
<p>There has been a continuous discussion between the Ministry of Mines and Ministry of Commerce and Industry regarding the imposition of minimum import price (MIP) on aluminium products since the third quarter of FY 2017.</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="517" height="226" /></p> <p>However, it appears that despite the insistence of the Ministry of Mines, the Ministry of Commerce and Industry is unlikely to do so any time.</p> <p>The ministry of Commerce believes that imposition of more duty on aluminium import would encourage inflation and affect the interests of the common man.</p> <p>“Indeed, the government is keen on protecting...
<p>Alcoa Corporation, a global leader in bauxite, alumina and aluminum products, today announced that it is consolidating its business units to reduce complexity.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/alcoa%20corporate.jpg" alt="News" width="517" height="226" /></p> <p>Effective immediately, the aluminum smelting, cast products and rolled products businesses, along with the majority of the energy segment assets, will be combined into a new Alcoa Aluminum business unit (BU). As a result, the Company’s three business units are Alcoa Bauxite, Alcoa Alumina and Alcoa Aluminum.</p> <p>“Our strategic goals include reducing complexity, driving returns to create stockholder value...
<p>According to sources, Emirates Global Aluminium (EGA), the largest aluminium producer in the Middle East is considering an initial public offering (IPO) to sell shares after the recovery in global commodity prices.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/EGA%20(1).jpg" alt="News" width="362" height="146" /></p> <p>The unnamed source said that the UAE based company is seeking advisers for a potential initial public offering on the local stock exchange in this year. However, there has been no official confirmation from EGA which is jointly owned by Abu Dhabi’s sovereign fund Mubadala Investment Co. and the Investment Corp. of Dubai on this matter.</p> <p>IPOs in the...
<p>Rio Tinto has planned to cut down 80,000 tonnes of annual production and more than 100 jobs at its Boyne aluminium smelter in Gladstone. The annual aluminium production of the smelter is valued at $US160 million at current prices.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/4369e6b87989e0669d6b02e8d17bf770.jpg" alt="news" width="517" height="226" /></p> <p>The reason behind this decision is that the company has not being able to negotiate power contracts with the state power providers.</p> <p>Rio Tinto’s spokesman said, “Gladstone’s Boyne Smelters Ltd will be reducing production by 14 per cent after failing to secure a competitively priced electricity...
<p>The Norwegian economy is regaining confidence after the Trends Indicator showed consistent rise over the last few quarters. The economy was hit badly after oil industry downturn affected Southern and Western Norway in 2015. Since 2016 begining, the situation has been improving. The country with a prominent oil, hydropower and metal industry profile shipped US$89.1 billion worth of goods around the globe last year. Aluminium export (including primary aluminium such as non-alloyed aluminium ingots as well as aluminium casthouse products), which comprises around 3.6 per cent of its total export value also scaled higher in 2016.</p> <p>{newsStudioGallery}</p> <p>Norway's non-alloyed aluminium ingot exports have been logging a year-on-year growth over the last three years. In 2016, the...
<p>LME aluminium slipped as positions rose during Thursday's night trading. The contract declined marginally by 0.25 per cent from Wednesday's closing of US$1,934 per tonne to close at US$1,929 per tonne on Thursday, March 2. As Shanghai Meals Market (SMM) finds it, LME aluminium will test support at the 5 and 10-day moving averages and trade at US$1,890-1,920 per tonne on Friday, March 3.</p> <p>As on March 2, LME official cash buyer price of aluminium stands at US$1,927 per tonne, cash seller & settlement price is US$1,929 per tonne, 3M buyer price is US$1,935 per tonne, 3M seller price is US$1,936 per tonne, Dec1 buyer price is US$1,970 per tonne, and Dec1 seller price is US$1,975 per tonne. The current LME official Opening Stock of aluminium is estimated at 2180775 tonnes, total...
