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 sources in the Japanese market, Russian Federation aluminium major UC Rusal is of the opinion that the second quarter contract premium should be US$125 per metric ton plus London Metal Exchange cash CIF (cost, insurance, and freight) Japan.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusal%20demand.jpg" alt="News" width="517" height="226" /></p> <p>Such a premium is almost one third above the contract price for the present month of US$95 per metric ton plus LME cash CIF Japan.</p> <p>The sources, who were not identified in the article, went on to say that they are awaiting second-quarter offers from Rio Tinto Japan and South32 before making a purchasing decision. The contract negotiations for the second quarter include...
<p>LME aluminium dropped during Wednesday's night trading after remaining unchanged for two consecutive days. The contract closed at US$1,873 per tonne yesterday, down 0.26 per cent from the previous closing of US$1,878 per tonne on Tuesday. According to the Federal Open Market Committee (FOMC) meeting, the Fed is expected to raise rate soon. Shanghai Metals Market (SMM) said in its forecast LME aluminium will "seek a breakthrough" and trade at US$1,870-1,900 per tonne on Thursday, February 23.</p> <p>As on February 22, LME official cash buyer price of aluminium stands at US$1,872.5 per tonne, cash seller & settlement price is US$1,873 per tonne, 3M buyer price is US$1,877per tonne, 3M seller price is US$1,877.5 per tonne, Dec1 buyer price is US$1,920 per tonne, and Dec1 seller price...
<p>CRU Group, the London-based analysis and consultancy firm CRU focuses on the global mining and metals, has scheduled the World Aluminium Conference on 3-5 May 2017 at the Marriott London Grosvenor Square hotel. The World Aluminium Conference 2017 is the CRU’s 22nd edition of the summit.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LondonBTshot.jpg" alt="news" width="517" height="226" /></p> <p>The World Aluminium Conference 2017 will address the aluminium supply, demand and sustainability factor in the aluminium sector.</p> <p>The CRU said, the event also going to cover how environmental and economic strategies interact and the business opportunities created by...
<p>Australia's recent shift away from thermal power to alternative energy sources to meet a national 20 per cent renewable energy target by 2020 has put aluminium smelters and mineral refining businesses of the country in a complicated situation. The supply uncertainty of electricity is making it difficult for the smelters, which have till date benefited from cheap, long-term electricity agreements with state-owned power companies, to operate profitably.</p> <p>"There is no bigger factor for a smelter than disruption to power supply," said Miles Prosser, executive director of the Australian Aluminium Council. "A disruption for even just a few hours can be almost catastrophic," he said.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Aluminium prices on London Metal Exchange remained unchanged at US$1,878 per tonne on Tuesday, though the U.S. dollar strengthened signalling at a possible downward correction in the near term. Crude prices also fell on Wednesday as American crude supplies climbed 9.53 million barrels to reach their highest at 518.1 million. Shanghai Metals Market (SMM) said in its forecast that the contract will fluctuate between the 5 and 10-day moving averages and trade at US$1,875-1,900 per tonne on Wednesday, February 22.</p> <p>As on February 21, LME official cash buyer price of aluminium stands at US$1,877.5 per tonne, cash seller & settlement price is US$1,878 per tonne, 3M buyer price is US$1,889.50 per tonne, 3M seller price is US$1,890 per tonne, Dec1 buyer price is US$1,935 per tonne,...
<p>South Africa's manufacturing sector has logged a moderate to slow growth over the last three years. One of the two major smelters in the country- Bayside Aluminium operated by South32, erstwhile BHP Billiton, shut down in 2015. The other smelter, Hillside Aluminium in Richards Bay, has been single-handedly churning out the primary metal for domestic market as well as shipping ingots to the international buyers</p> <p>{newsStudioGallery}</p> <p>In 2015, South Africa exported 484559.76 tonnes of aluminium (alloyed and non-alloyed ingots), which increased to reach 537002.69 tonnes in 2016, up 10.8 per cent from the previous year. In 2017 till October, the country is estimated to ship around 404435.74 tonnes of aluminium to the global market, down 11.7 per cent from the corresponding...
<p>LME aluminium reversed its 2-day downtrend to rise 0.67 per cent from Friday's closing at US$1,865.5 per tonne to end at US$1878 per tonne after night trading on Monday, February 20. Shanghai Metals Market (SMM) forecasts the contract will rise further at US$1,890-1,916 per tonne on Tuesday, February 21. However, JP Morgan holds a different viewpoint. The multinational banking and financial services company observed in a recent report that LME aluminium prices are at a risk of correction in the near term as surplus Chinese aluminium production is set to flow into warehousesdragging on global prices.</p> <p>As on February 20, LME official cash buyer price of aluminium stands at US$1,877.5 per tonne, cash seller & settlement price is US$1,878 per tonne, 3M buyer price is US$1,887 per...
<p>National Aluminium Company (Nalco), one of the major primary aluminium producers of India, has decided to acquire 80 per cent of the power from the coal-based power station proposed at Kamakhyanagar in Dhenkanal district, Odisha.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/PO23_steel_roll_jp_2864181g.jpg" alt="news" width="517" height="226" /></p> <p>The chairman and managing director of Nalco T K Chand stated, “Nalco will be buying 80 per cent of the power which will be used for feeding our planned greenfield aluminium smelter at Kamakhyanagar close to the site chosen for the power station. Rest of the power will be sold by NTPC to other sources. We will shortly form the JV...
<p>LME aluminium gave up its gains and dropped for two consecutive days last week as the U.S. dollar firmed up. The contract which had risen to hit the 25-week highest at US$1,900 per tonne on February 14 came down 1.81 per cent to close at US$1,865.50 per tonne on Friday after night trading. Shanghai Metals Market (SMM) said in its forecast that LME aluminium will test support at the 10-day moving average and will move in the range of US$1,865-1,895 per tonne on Monday, February 20.</p> <p>As on February 17, LME official cash buyer price of aluminium stands at US$1,865 per tonne, cash seller & settlement price is US$1,865.5 per tonne, 3M buyer price is US$1,878 per tonne, 3M seller price is US$1,879 per tonne, Dec1 buyer price is US$1,923 per tonne, and Dec1 seller price is US$1,928...
<p>LME aluminium hit US$1,900 per tonne this week surging 13 per cent so far since January this year. One of the factors supporting the rise has been, of course, the faltering U.S. dollar index. The DXY which measures the greenback’s strength against a basket of six major currencies, plunged on February 15, Wednesday, and the slide followed through Thursday. The other factor supporting the price rise has been aluminium supply concerns arising out of China. There were fewer smelter restarts than expected in the latter half of 2016, production costs in the country have spiralled up, and now, many smelters are being forced to halt operations after coming under the scanner of the government-controlled environment protection authorities. It looks like China is taking air pollution rather...
<p>The Netherlands is one of the twenty largest economies in the world. The country is a top aluminium importer being one of the largest producers of aluminium downstream products. Aluminium has had the third fastest-growing increase in value among the top 10 import categories to the Dutch country. It shows 45.9% growth in the last 5-year period starting in 2011.</p> <p>{newsStudioGallery}</p> <p>As one of the world's fastest growing exporters of industrial products, the Netherlands imports significant amount of aluminium to supply their local industries. Let us analyse the trading patterns for aluminium to understand the market demand and consumption trends.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>The US dollar index after rallying for almost a week now suffered its worst decline on Thursday, February 16, lifting LME aluminium price up by 0.37 per cent. The contract which stood at US$1,871 per tonne on Wednesday down from Tuesday's US$1,893 per tonne, closed higher at US$1,878 per tonne after Thursday's night trading. Shanghai Metals Market (SMM) in its forecast says LME aluminium will hover at US$1,890-1,916 per tonne on Friday, February 17. <br /><br />As on February 16, LME official cash buyer price of aluminium stands at US$1,877 per tonne, cash seller & settlement price is US$1,878 per tonne, 3M buyer price is US$1,891.50 per tonne, 3M seller price is US$1,892 per tonne, Dec1 buyer price is US$1,935 per tonne, and Dec1 seller price is US$1,940 per tonne. The current LME...
<p>UC RUSAL, the leading global aluminium producer, announces its operating results for the fourth quarter 2016 and full year 2016. <br /><br />As reported in the result, Rusal produced 930 thousand tons of aluminium in Q4 2016, registering a 1.0% growth quarter on quarter. Smelters utilization remained on average at a high of 95% and 94% of the total aluminium output was contributed by Rusal’s Siberian smelters.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/rusal2.jpg" alt="News" width="517" height="226" /><br />Aluminium production for the full year 2016 totalled at 3.68 million tons, up 1.1% YoY.<br /><br />The total aluminium sales volume for Q4 2016 stands at 922 thousand tons...
<p>LME aluminium eased out after Wednesday's night trading shedding some earlier gains and closing at US$1,871 per tonne, down 1.16 per cent from the previous closing at US$1,893 per tonne on Tuesday. With the U.S. dollar index trading higher ahead of data, the dip was only but a natural outcome. However, Shanghai Metals Market (SMM) believes the contract will refresh new highs through the trading hours on Thursday, February 16 and will trade at US$1,905-1,935 per tonne. <br /><br />As on February 15, LME official cash buyer price of aluminium stands at US$1,870.5 per tonne, cash seller & settlement price is US$1,871 per tonne, 3M buyer price is US$1,884 per tonne, 3M seller price is US$1,884.5 per tonne, Dec1 buyer price is US$1,928 per tonne, and Dec1 seller price is US$1,933 per...
<p>Indian aluminium consumption is poised for a big leap in ten years from now. Predicted to reach 8 million tonne (MT) from the current 3.2 MT, driven by sectors like electricity, automobiles, building & construction and packaging, it requires a concerted effort from the industry towards meeting cost and environmental challenges- the bigger challenge being optimization of the use of energy from various sources while ensuring lower greenhouse gas emission for the sake of sustainability. <br /><br />Indian aluminium producers till date have relied largely on thermal power for their smelting operations. The Energy and Resources Institute (TERI) in its recently published report says current installed capacity of power generation and the capacity under construction would be able to...
<p>LME aluminium has edged higher. The contract rose by 1.36 per cent on Tuesday from the previous day's closing of US$1,867.50 per tonne, to close at US$1,893 per tonne after night trading. However, Shanghai Metals Market (SMM) in its analysis said, the growth in LME aluminium was restrained by the hawkish demand projected in the speech of the US Federal Reserve Chairwoman Yellen. According to their forecast, the lightmetal contract is expected to challenge US$1,900 per tonne and trade at US$1,880-1,905 per tonne on Wednesday, February 15. <br /><br />As on February 14, LME official cash buyer price of aluminium stands at US$1,892 per tonne, cash seller & settlement price is US$1,893 per tonne, 3M buyer price is US$1,900.50 per tonne, 3M seller price is US$1,901 per tonne, Dec1 buyer...
<p>India's navaratna public sector undertaking National Aluminium Company Limited (Nalco) today announced its financial results for the third quarter ended 31st December 2016. The company's standalone net profit declined 2.67 per cent to stand at INR143.92 crore (up from INR121 crore in the preceding quarter). Nalco had clocked a net profit of INR147.88 crore in the corresponding period previous year. <br /><br />The total standalone income of the Indian aluminium major, however, logged higher by 14 per cent to total at INR1,988.13 crore in Q4 2016 against INR1,743.09 crore of the same period in 2015-2016 fiscal. The net sales turnover in the 3rd Quarter was INR1848 crore. In third quarter, Nalco has registered EBITDA (before exceptional item) INR361 crore as against INR282 crore in the...
<p>Vedanta Limited today announced its unaudited consolidated results for the third quarter (Q3) ended 31 December 2016.</p> <p>The company reported revenues of INR 19,320 crore, up 23% QoQ and up 31% YoY. The company also reports an EBITDA of INR. 6,002 crore, up 29% QoQ and up 83%, YoY. The results show a solid EBITDA margin of 39%, driven by higher commodity prices and aluminium volume ramp-up.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/jharsuguda-smelter_33785.jpg" alt="News" width="517" height="226" /></p> <p>Vedanta also reports a free cash flow of INR 1,801 crore, driven by strong operating performance and gross debt reduction of INR 1,828 crore and net debt reduction of INR. 447 crore during the quarter. The company reports a...
