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...
Grow with
AL Circle
<p>After a fall to US$1,895 per tonne on Tuesday, February 28, aluminium has staged a quick comeback, on the news of China’s alumina and aluminium capacity cut orders for 28 cities. LME Aluminium closed 2.0% higher at $ 1,934 per ton on March 1 Wednesday, 35% higher than the trough seen in late 2015.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME2Mar.jpg" alt="News" width="517" height="226" /></p> <p>As seen by SMM, LME aluminium contract will move at USD 1,930-1,960/mt on Thursday.</p> <p>As on March 1, LME official cash buyer price of aluminium stands at US$1933.50 per tonne, cash seller & settlement price is US$ 1934 per tonne, 3M buyer price is US$ 1938 per tonne, 3M seller...
According to a Bloomberg News report, China has ordered aluminium producers to curtain their production capacity in 28 cities during winter months as Beijing has been facing smog problems for years. China has also ordered steel producer to cut their production capacity. China has ordered to slash production capacity on aluminium and alumina by more than 30 percent, according to the order issued by authorities including the Ministry of Environmental Protection (MEP) and the National Development and Reform Commission. China has come up with this order after the MEP’s proposal, in a draft policy document seen by Reuters that would be among Beijing's most radical moves so far to tackle air quality in the country's most polluted cities. In that draft document, the MEP had also recommended...
<p>The LME aluminium contract dipped by 0.68 per cent from its previous day's closing of US$1,908 per tonne to close at US$1,895 per tonne on Tuesday, February 28. LME aluminium has hit the highest level from mid May 2015 reaching the month’s highest on February 27 and market players are expecting a technical correction after a fast rise. As seen by SMM the LME aluminium contract will move at USD 1,910-1,930/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/LME28%20FEB.png" alt="News" width="517" height="226" /></p> <p>As on February 28, LME official cash buyer price of aluminium stands at US$1894.50 per tonne, cash seller & settlement price is US$ 1895.00 per...
<p>Emirates Global Aluminium (EGA), one of the largest aluminium producers in the world, announced on Tuesday 28 February, 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.</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="517" height="226" /></p> <p>CEO Abdulla Kalban commented: "This is a result of our focus on cost management, operational efficiencies, continuous improvement of our technology, and responsiveness."</p> <p>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>The Annual Reports of Vedanta Limited and Vedanta Resources Plc won Platinum and Gold, in the Materials and Energy - Equipment & Services category respectively, at the LACP Vision Awards 2016. The awards recognize best practice in international financial reporting.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/vedanta%20(1).jpg" alt="News" width="517" height="226" /></p> <p>Vedanta Limited's FY 2016 Annual Report earned 99 of a 100 points and was ranked 19 among the top 50 reports worldwide.</p> <p>Vedanta as a purpose driven organisation ensures best practices in financial and non-financial disclosures, including governance, ethics and proactive information sharing. The Annual Reports...
<p>According to TASS news agency, Russian Industry and Trade Minister Denis Manturov said yesterday 27 February, that Russia is planning to form an OPEC kind of network for the global aluminium industry.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/download.jpg" alt="news" width="517" height="226" /></p> <p>The Organization of the Petroleum Exporting Countries (OPEC) is an organization of world’s major oil-exporting nation’s aims at maintaining stability in oil markets. In 2016, Russia and OPEC’s member decided to diminish production of oil in order to support global prices.</p> <p>Manturov said that the formation of such kind of organization for aluminium industry is at the...
<p>LME aluminium closed higher at US$1,907 per tonne on Monday, February 27 breaking support at US$1,900 per tonne. The 1.67 per cent rise from its previous day's closing of US$1,877 per tonne marks the highest in last one week, when the metal traded in the range of US$1,860-1,880 per tonne. The contract underperformed in Asian trading hours than it in European Trading hours, affected by weak Shanghai aluminium prices. Shanghai Metals Market (SMM) in its forecast said LME aluminium will test US$1,900 per tonne support and move at US$1,885-1,910 per tonne range on Tuesday, February 28.</p> <p>As on February 27, LME official cash buyer price of aluminium stands at US$1,907 per tonne, cash seller & settlement price is US$1,908 per tonne, 3M buyer price is US$1,905 per tonne, 3M seller...
<p>The Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan announced on 27 February in Jakarta that the government has planned to take over the management of PT Freeport Indonesia if it wins in the international arbitration tribunal.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/2016_12_20_18047_1482194274._large.jpg" alt="news" width="517" height="226" /></p> <p>For that, the government would appoint state-owned aluminium producer PT Indonesia Asahan Aluminium (Inalum). He said, “The government can; we have Inalum.”</p> <p>According to Luhut, PT Indonesia Asahan Aluminium (Inalum) has the capability to take over Freeport management as the company is involved in...
<p>U.S. Senator Rob Portman (R-OH) recently visited Pennex Aluminum Company in Leetonia, Ohio to meet with aluminium manufacturing leaders and workers there and hear out the problems they have been facing in recent times due to rising unfair trade practices</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Pennex%20A_HomePageFixedWidth.jpg" alt="news" width="517" height="226" /></p> <p>Portman commented: “It was a privilege for me to have a town hall meeting with these Ohio workers today about the issues they are concerned about, like jobs, the rising cost of living and the threat of unfair imports,”</p> <p>“Unfortunately, aluminium manufacturers like Pennex have been hit from...
<p>Century Aluminum Company reported a net loss of $168.5 million for Q4 2016 in comparison to the net loss of $43.1 million in Q4 2015. Results were negatively impacted by a $152.2 million impairment charge related to the Helguvik project in Iceland and $6.9 million charge related to discrete tax items. The fourth quarter adjusted net loss was $11.5 million. The loss was partially offset by a favourable $2.1 million market inventory adjustment. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/century.JPG" alt="News" width="517" height="226" /></p> <p>Total sales value dropped from $383.9 million in Q4 2015 to $339.8 million in Q4 2016. The company shipped 183,210 tonnes of...
<p>LME aluminium prices hovered at lows last week weighed on by a strong dollar. On Friday, the lightmetal rebounded on renewed fears over the Chinese supply cuts but ended low at US$1,877 per tonne, down 29.2 per cent from the previous day's closing at US$1,882 per tonne. Reuters technical analysis states LME aluminium may retrace to a support at US$1,872 per tonne as it faces resistance at US$1,889 per tonne. Shanghai Metals Market (SMM) in its forecast says the contract will move at US$1,875-1,895 per tonne range on Monday, February 27.</p> <p>As on February 24, LME official cash buyer price of aluminium stands at US$1,876 per tonne, cash seller & settlement price is US$1,877 per tonne, 3M buyer price is US$1,880 per tonne, 3M seller price is US$1,881 per tonne, Dec1 buyer price is...
<p>Prebaked anode prices in China’s domestic market rose by about 620 yuan per tonne in January 2017 after Shandong Weiqiao raised its procurement price.</p> <p>SMM finds that the Chinese prebaked anode market has shifted from a seller’s market to a buyer’s market. Domestic prebaked anode prices advanced around 580 yuan per tonne as a whole in January, the highest in recent years.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/chalieco.jpg" alt="News" width="517" height="387" /></p> <p>The rising strength is continuing into February. At present, ex-works prices of prebaked anode are 3,200-3,540 yuan per tonne in east China, up 105 yuan per tonne from January's level.</p>...
<p>Alcoa's Australian partner Alumina Limited has reported a loss of $US30.2 million ($A39.3 million)in 2016, down from a $US88.3 million ($A114.8 million) profit in 2015 driven by restructuring-related write-offs and lower prices and volumes.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/portland%20alcoa.jpg" alt="News" width="517" height="226" /></p> <p>Alumina Limited holds a 40 per cent stake in AWAC and the company had to pay an impairment charge of $US115 million pertaining to the share as cost for closing down operations. Notably, the Portland smelter in which AWAC has a 55% equity interest is the only remaining aluminium smelting operation in the AWAC portfolio. Alumina Limited and its...
<p>The UAE-based Emirates Global Aluminium (EGA) has become a member of Aluminium Stewardship Initiative, which brings the world’s leading mining and metals companies together, that sets global standards for governance, environmental and social responsibility. With this EGA has become the first Middle-East aluminium company to join the initiative.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/assets_images_1152x492_21.jpg" alt="news" width="517" height="226" /></p> <p>Abdulla Kalban, EGA’s Managing Director and Chief Executive Officer said, “Aluminium touches the lives of almost everyone on earth, and the impacts of making aluminium do too. Being a member of the...
<p>LME aluminium staged a reversal after falling on Wednesday on news of the FOMC meeting that hinted at a possible Fed rate hike. The contract closed at US$1,882.50 per tonne after night trading on Thursday, February 23. The Federal Reserve has hinted at multiple short-term interest rate increases this year, a sign that the central bank wants to rein in inflation and expects the recent economic growth to continue. Crude oil prices have also spiked after OPEC confirmed that it would stick to its agreement on production cut. These two factors combined have buoyed LME aluminium prices up.</p> <p>Shanghai Metals market (SMM) in its forecast said LME aluminium will test support at the 20-day moving average and will trade at US$1,850-1,880 per tonne on Friday, February 24.</p> <p><img...
<p>Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, has inked a Memorandum of Understanding (MoU) for Joint Co-Operation with Bahrain Polytechnic to support Bahrain's Economic Vision 2030.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/alba101.jpg" alt="news" width="517" height="226" /></p> <p>The MoU was signed between Alba’s Chief Executive Officer Tim Murray and Acting CEO of Bahrain Polytechnic, Dr. Mohamed Al-Aseeri at Alba.</p> <p>Tim Murray said: “Our MoU with Bahrain Polytechnic emphasises Alba’s commitment to support Bahrain's Economic Vision 2030, by equipping young Bahraini nationals with skills that enhance their employability, thereby...
<p>Talum, a Slovenian company in Kidricevo specialised in alumina and aluminium products, has earned EUR 300m in sales revenue in 2016. Even though the company has generated 5 per cent less vs 2015 despite low aluminium price, the unaudited data shows the company doubles profits to a million euros.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/reference-02-2b.jpg" alt="news" width="517" height="226" /></p> <p>Talum chairman Marko Drobnic explained that the company’s new strategy such as a change in the product structure and purchasing and business process optimisation lead the company to success.</p> <p>He commented: "We have been expanding volumes in the higher value added ranges,...
<p>The aluminium industry of Australia represents a highly vertically integrated system comprising bauxite mines, alumina refineries and four major aluminium smelters- all operated by the biggest names in the global aluminium industry. In 2015-16, Australia produced 1.6 million tonnes of aluminium creating exports of US$3.8 billion. The country has also been importing a lot of the metal to feed its growing downstream aluminium sector. However, looking at the export-import data for the last three years, it can be easily inferred that the island country remains a net exporter of aluminium. In 2015, Australia ranked as the 4th largest aluminium exporter of the world.</p> <p><strong>Aluminium Export by Australia</strong></p> <p>Australia's aluminium exports have been declining over the last...
