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>GE and Aluminium of Greece (AOG), a Mytilineos Group subsidiary, yesterday signed a 10- year contract in Dubai, the United Arab Emirates to create the world’s first-of-their-kind digital smelter solutions to improve AOG’s aluminium smelting process and help the company to drive additional output and efficiency while reducing raw material consumption, energy consumption, and pot leakages.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/ELIT5853.jpg" alt="News" width="517" height="226" /><br />The digital solutions will be created by GE’s teams in the US and the UAE and the facility that the solutions will be implemented is located in Agios Nikolaos, Viotia, Greece.<br...
<p>LME aluminium is continuing its uptrend. Even as the US dollar firmed up following the successful summit meeting between Japan's Prime Minister Shinzo Abe and Donald Trump the lightmetal traded on LME has shown little signs of decline. The contract after opening lower on Monday, February 13, gained strength and closed at US$1,867.50 per tonne after night trading, up one per cent from the previous closing of US$1,849 on Friday, February 10. Shanghai Metals Market (SMM) in its forecast said, LME aluminium will hover at US$1,860-1,900 per tonne on Tuesday, February 14, with mixed factors. <br /><br />As on February 13, LME official cash buyer price of aluminium stands at US$1,867 per tonne, cash seller & settlement price is US$1,867.50 per tonne, 3M buyer price is US$1,871 per tonne,...
<p>Hindalco Industries, the Aditya Birla flagship company reported a net income of INR 320.56 crore in Q3 2017 against a loss of INR 32.49 crore YOY, driven by strong operational performance and recovery in aluminium prices.</p> <p>Revenue during the quarter grew by 13.8% to INR 9,914.8 crore compared with INR 8,715.9 crore YOY, driven by increase in average realisation for both copper and aluminium, higher aluminium volumes, supported by weak rupee.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/renukutFeb14.jpg" alt="News" width="517" height="226" /></p> <p>Operating profit increased 75.5% to INR 1,185 crore and margin expanded by 420 basis points to 11.9 % compared with year-ago quarter,...
<p>Aluminium Bahrain B.S.C (Alba) presents its financial results as per the International Financial Reporting Standards (IFRS) accounting rules. Alba’s Financial Results for Full-Year 2016 are summarised below:<br /><br /><strong>Alba Q4 Highlights</strong><br /><br />• Alba posted 2016 Q4 Net Income of US$ 37 million compared to a Q4 2015 Net Loss of (US$ 42 million)<br />• Alba 2016 Full Year Net Income reached US$ 129 million <br />• Record breaking-year with production surging to 971,420 metric tonnes <br />• 2016 another year of exceptional Safety Performance<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/AlbaBoardofDirectorsFeb13.jpg" alt="News" width="517"...
<p>The upward momentum in LME aluminium stands intact even in this week. The light metal was last traded at US$1,848 per tonne during Friday's night trading, up 0.54 per cent from the previous day's closing of US$1,839 per tonne. Shanghai Metals Market (SMM) in its forecast says LME aluminium will test the previous highest level and trade at US$1,865-1,885 per tonne on Monday, February 13. <br /><br />As on February 10, LME official cash buyer price of aluminium stands at US$1,848 per tonne, cash seller & settlement price is US$1,849 per tonne, 3M buyer price is US$1,857.5 per tonne, 3M seller price is US$1,858 per tonne, Dec1 buyer price is US$1,905 per tonne, and Dec1 seller price is US$1,910 per tonne. The current LME official Opening Stock of aluminium is estimated at 2231300...
<p>Production at Australia’s Tomago aluminium smelter has been temporally halted by AGL Energy in order to cut down electricity load as the people of New South Wales have been notified of severe state blackouts across the state.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/intro_slider_02.jpg" alt="News" width="517" height="226" /><br />AGL Energy said that the company would curtail electricity consumption at the Tomago Aluminium Smelter to minimize pressure on the power grid.<br /><br />On Friday, NSW residents were asked to reduce electricity consumption due to heat wave. This could avoid mass blackouts in the state. The Tomago aluminium smelter in Newcastle accounts for 10 per...
<p>LME aluminium has been on an uptrend for better part of the week (February 6 - February 10, 2017) as dollar was weaker before Trump-Abe meeting. The U.S. currency hit 10-day high on Friday. While the market has to wait till start of trading hours on Monday next week, it is time we take a look back at how the week has been for the lightmetal traded on LME.</p> <p>LME aluminium price stood at US$1,812 per tonne on Monday, February 6, from where it gradually took off to close at US$1,839 per tonne after Thursday's night trading. The weekly rise in price was registered at 1.49 per cent rate. With dollar regaining strength towards end of the week, it is almost likely that the metal will move at a tight trading range.</p> <p><img style="vertical-align: middle; display: block; margin-left:...
<p>The past week saw two of the biggest aluminium producers of the world- <strong>Norsk Hydro and Rio Tinto</strong> announcing their financial results for the fourth quarter and full-year period of 2016 ending December 31. While Hydro’s EBITDA for fourth quarter of the last fiscal rose to NOK 1,829 million (up 23.8% quarter-on-quarter), and <strong>Rio posted record annual production</strong> across all its verticals in the Aluminium group. Rio Tinto produced a total volume of 3,646,000 tonnes (3.64 million tonnes) of aluminium in 2016, up 10 per cent from the previous year. Hydro’s primary aluminium production in the Q4 totalled 526 kilo tonnes and for the full year stood at 2.085 million tonnes up from 2.046 tonnes in 2015. Underlying EBIT for primary metal...
<p>The leading global mining and metals group Rio Tinto reported strong operational performance in Aluminium with production soaring high across all three verticals (bauxite, alumina, and aluminium) in comparison to that recorded in 2015. Annual production record for primary aluminium was set in all smelters, including the recently reopened Kitimat aluminium smelter in British Columbia. Rio Tinto produced a total volume of 3,646,000 tonnes (3.64 million tonnes) of aluminium in 2016, up 10 per cent from the previous year. <br /><br />The group's total underlying earnings was estimated at US$947 million, down 15 per cent from 2015. Rio Tinto attributed the decline primarily to the commodity market downturn and lower prices, which together weighed on earnings by US$507 million. <br /><br...
<p>Indian government said yesterday that the centre is considering taking further actions in order to protect the interests of the domestic aluminium industry without affecting the interests of downstream industries.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/AluminiumTubes.jpg" alt="News" width="517" height="226" /><br />A Parliamentary Panel explained, "The mines ministry is again considering to take further steps for the survival of the aluminium industry. For this purpose, several meetings have been held with the representatives of primary producers of aluminium as well as secondary producers of aluminium/downstream industries."<br /><br />The Twelfth Report of the Committee on...
<p>LME aluminium advanced on Thursday closing at US$1,839 per tonne after night trading even though dollar firmed up against the Japanese yen. The rise registered was 0.98 per cent from the previous day's closing of US$1,821 per tonne. Shanghai Metals Market (SMM) forecast says the contract will trade closely with the dollar and range between US$1,845-1,865 per tonne on Friday, February 10. </p> <p>As on February 8, LME official cash buyer price of aluminium stands at US$1,820.5 per tonne, cash seller & settlement price is US$1,821 per tonne, 3M buyer price is US$1,840 per tonne, 3M seller price is US$1,840.5 per tonne, Dec1 buyer price is US$1,895 per tonne, and Dec1 seller price is US$1,900 per tonne. The current LME official Opening Stock of aluminium is estimated at 2254650...
<p>Norsk Hydro has reported its forth quarter 2016 results. Hydro's underlying EBIT increased to NOK 1,829 million in Q4 from NOK 1,477 million in Q3 2016. The rise was due to higher realized alumina and aluminium prices, slightly offset by seasonally higher costs and lower aluminium product sales. Hydro expects healthy demand for aluminium and aluminium products, forecasting global primary demand growth at 3-5 % in 2017.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/karmoyFeb10.jpg" alt="News" width="517" height="226" /></p> <p>Commenting on the results, Svein Richard Brandtzæg, President and CEO of Hydro said, "Demand for aluminium remains firm and prices have...
<p>Aluminium exports by the Russian Federation increased last year totalling 3,481,400 tonnes, reported the State Customs Committee of the Russian Federation. Aluminium, as per 2015 Custom data, represents the fourth highest dollar-valued export commodity (valued at US$6.9 billion) constituting 2.1 per cent of the total exports from Russia. Over the last three years, aluminium export market has remained fairly unchanged with little impact noted from the surge in aluminium supply from China which has added to the worries of other primary metal producers across the world. </p> <p>{newsStudioGallery}</p> <p>According to the export-import data gathered from the Federation's major ports, the country exported 3.56 million tonnes of aluminium (both alloyed and non-alloyed ingots) in 2015,...
<p>LME aluminium recovered from its recent lows to climb higher on Wednesday, January 8. The contract closed at US$1,821 per tonne after yesterday's night trading, up 0.66 per cent from the previous day's closing of US$1,809 per tonne. Shanghai Metals Market forecast says LME aluminium will hover at highs in the near term and test US$1,850 per tonne on Thursday, January 9, moving in the range of US$1,840-1,860 per tonne.</p> <p>As on February 8, LME official cash buyer price of aluminium stands at US$1,820.5 per tonne, cash seller & settlement price is US$1,821 per tonne, 3M buyer price is US$1,840 per tonne, 3M seller price is US$1,840.5 per tonne, Dec1 buyer price is US$1,895 per tonne, and Dec1 seller price is US$1,900 per tonne. The current LME official Opening Stock of aluminium...
<p>The global aluminium market ended in a marginal deficit of 970,000 tonnes during the first eleven months of 2016, revealed data published in the latest report of the World Bureau of Metal Statistics (WBMS). In 2015, the deficit amount was recorded at 551,000 tonnes. The stocks of the metal, at the end of the review period, stood at 2,644 kilo tonnes. The total aluminium demand grew marginally by 68,000 tonnes to total 53.58 million tonnes during January to February 2016. China, as expected, led the demand engine, thanks to its ever expanding end user markets. Aluminium demand in the EU-28 also rose by 409 kilo tonnes year-on-year during the initial eleven months of 2016.</p> <p>Based on the latest available aluminium production capacity data, here we provide the list of top 5 primary...
<p>Bosnian aluminium smelter Aluminij on Monday, February 6, proclaimed that the company has proposed to the state-level government to put an end to the import tax on unalloyed aluminium in order to reduce cost of production and boost productivity.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminij.jpg" alt="news" width="517" height="226" /></p> <p>The company said, "Currently, no one is importing unalloyed aluminium so funds are not being raised. If the state were to abolish its customs duty on this material, Aluminij could be the engine of economic development in Bosnia."</p> <p>According to company, Aluminij smelter could melt 25,000 tonnes of unalloyed aluminium per year utilizing fuel...
<p>LME aluminium rose for a day on Monday only to give in to the downward pressure of a strengthening dollar on Wednesday, January 8. The contract ended at US$1,809 per tonne after Tuesday's night trading, down marginally by 0.16 per cent from the previous day's closing of US$1,812 per tonne. Shanghai Metals Market (SMM) forecast says LME aluminium will range between US$1,820-1,835 per tonne on Wednesday.</p> <p>As on February 7, LME official cash buyer price of aluminium stands at US$1,808 per tonne, cash seller & settlement price is US$1,809 per tonne, 3M buyer price is US$1,823 per tonne, 3M seller price is US$1,824 per tonne, Dec1 buyer price is US$1,872 per tonne, and Dec1 seller price is US$1,877 per tonne. The current LME official Opening Stock of aluminium is estimated at...
<p>India's Navaratna public sector undertaking National Aluminium Company Ltd (Nalco) has signed a Memorandum of Undertaking (MoU) with Neelachal Inspat Nigam Limited (NINL) for establishing a joint-venture coal tar pitch producing company. The move is in line with the State owned aluminium major's revised business strategy of investing in backward integration in order to sustain its aluminium smelting business.</p> <p>The plan involves establishment of a coal tar distillation plant using raw material produced by the domestic steel producer's coke oven plant located in Odisha's Kalinganagar industrial town. The plant has an annual capacity of 1.1 million tonne.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
