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 Aluminium Highlights published by the Aluminum Association, domestic U.S. and Canadian producers shipped an estimated 1,712 million pounds of aluminium (including export) during December 2016. It registers a 1.9% drop from the December 2015 total of 1,746 million pounds.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminum%20shipment.png" alt="News" width="375" height="262" /></p> <p> </p> <p>Shipments of aluminium mill products in December dropped 2.8% from the previous year to 1,110 million pounds. For the full year, mill product shipments were slightly down from 2015. Shipments of aluminium ingot for castings, exports and destructive uses decreased by four-tenths of...
<p>The dollar gave up its earlier gains against Japan's yen and the euro after key U.S. jobs data was released last Friday. President Trump's newly elected office is yet to publish the details of tax reduction and government expenditures. This, along with the market worries toward global trade and exchange rate of the U.S. dollar has weighed down the dollar index sending LME aluminium prices up from their current lows. The contract closed at US$1,812 per tonne after Monday's night trading, up 0.22 per cent from the previous day's closing of US$1,808 per tonne. Shanghai Metals Market (SMM) forecast says LME aluminium will move in the range of US$1,820-1,840 per tonne on Tuesday.</p> <p>As on February 6, LME official cash buyer price of aluminium stands at US$1,811 per tonne, cash seller...
<p>Global Industrial Resources (GIR), a leading trading company supplying various technical products to Aluminium, Cement, Steel, Petrochemical and downstream industries, is set to offer its variety of exclusive aluminium products for exhibition at the Gulf Industry Fair (GIF) 2017 in Bahrain on February 7.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/gir%20(1).jpg" alt="news" width="517" height="226" /></p> <p>Ali Najjar, vice chairman and managing director of GIR, said that GIF’s platform helps to promote Bahrain’s industrial capabilities on a global scale. This effort will help GIR in promoting the company’s repute as a regional supplier of aluminium products.<br /> <br...
<p>The U.S. dollar index has been gaining in strength over the past week. On Friday, February 3, it surrendered its gain but that could do little to buoy aluminium prices up. LME aluminium dropped further to close at US$1,808.50 per tonne after Friday's night trading, down 0.24 per cent from previous day's closing at US$1,813 per tonne. The contract is expected to range between US$1,850 per tonne on Monday.</p> <p>As on February 3, LME official cash buyer price of aluminium stands at US$1,808 per tonne, cash seller & settlement price is US$1,808.5 per tonne, 3M buyer price is US$1,815 per tonne, 3M seller price is US$1,815.5 per tonne, Dec1 buyer price is US$1,858 per tonne, and Dec1 seller price is US$1,863 per tonne. The current LME official Opening Stock of aluminium is estimated...
<p>Aluminium premiums in the U.S. market are logging an upward trend. They picked up last month in tandem with the rising aluminium prices and are now hovering at US$0.09 per pound. The recent surge in the metal imports is found to be supporting the premiums hike, says MetalMiner in the recent analysis.</p> <p>For aluminium buyers in the U.S. market, the "all-in aluminium price" can be factored in two components: the aluminium price and the regional aluminium premiums. The latter part is basically a surcharge that consumers have to pay in addition to the prevailing market prices in order to expedite delivery of the metal stock from warehouses.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>The delegation of the European Union circulated a communication to the delegation of China, the delegation of the United States and to the Chairperson of the Dispute Settlement Body officially requesting to join the WTO consultation launched by the US on Chinese subsidies to producers of primary aluminium. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminium-making.jpg" alt="News" width="517" height="226" /><br />As noted by the EU, “the request for consultations relates to subsidies provided by China to its producers of primary aluminium. The EU is a major global exporter of aluminium and aluminium products. Between 2013 and 2016, the EU has exported worldwide more than 11...
<p>The U.S. dollar index failed to gain any significant ground after its continuous fall. The LME aluminium contract dipped by 0.27 per cent to close at US$1,813 per tonne after Thursday's night trading. As seen by Shanghai Metals Market, LME aluminium price will test the 10-day moving average on Friday and will move at USD 1,820-1,840/mt.,February 03, Friday.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/graph1Feb3.png" alt="News" width="517" height="226" /></p> <p>As on February 02, LME official cash buyer price of aluminium stands at US$ 1812.5 per tonne, cash seller & settlement price is US$ 1813 per tonne, 3M buyer price is US$ 1821 per tonne, 3M seller price is US$ 1821.5, Dec1 buyer...
<p>Aluminium demand in the European market is on the rise. Fuelled by carmarkers that are increasingly using aluminium, consumption of the lightmetal has been rising in the U.S. and Europe. There is no gainsaying the fact that aluminium glut is worsening globally- China singlehandedly driving the supplying surplus; yet, Norsk Hydro, one of Europe’s largest producers, insists that a surplus of up to 1.5m tonnes of aluminium in China this year will be offset by a deficit elsewhere in the world and steady demand. The Netherlands with a developed domestic downstream aluminium industry remains a key consumer of primary aluminium in Europe. It is home to some of the biggest manufacturers of aluminium extruders such as Hydro-Sapa. To cater to the domestic demand, it imports a substantial...
<p>Tajik Minister of Economic Development and Trade Negmatullo Hikmatullozoda announced at a news conference on 31 January that Tajikistan is planning to increase primary aluminium production to 179 thousand tons in 2017.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/PrimaryMktFeb2.jpg" alt="News" width="517" height="226" /><br />Tajikistan produced 129.3 thousand tons of primary aluminium last year. In 2015, the company produced 139.1 thousand tons of primary aluminium.<br /><br />The minister said that the production of aluminium in 2017 will depend on the prices and demand for aluminium in the world market. He further stated that the demand for aluminium in Ukraine, Armenia, and...
<p>The U.S. dollar index failed to make a reversal after the much uninspiring Federal Reserve's latest policy meeting. After hitting its worst in 30 years, the currency could recover only a little ground on Wednesday, and that got reflected in LME aluminium price trend. The contract dipped marginally by 0.16 per cent to close at US$1,818 per tonne after Wednesday's night trading. <br /><br />With uncertainty looming over Donald Trump's presidency, it is unlikely that the dollar index will recover soon. This will keep supporting commodity prices at their recent levels. The U.S. gasoline supplies, on the other side, are piling up, and while that might not help drivers much, it could be a negative for the price of oil, says CNBC. Based on the macroeconomic trends, LME aluminium is expected...
<p>The U.S. dollar fell against the euro and other major global currencies on Tuesday, January 31, extending its year-to-date decline after Peter Navarro, the newly elected head economic policy advisor to President Donald Trump called Europe’s currency "grossly undervalued." The dollar nosedived to its lows buoying up LME aluminium prices which have been sliding downward over the last one week. The contract finally gained some strength and closed at US$1,821 per tonne after Tuesday's night trading, logging a marginal rise of 0.77 per cent from the previous day's closing of US$1,807 per tonne.</p> <p>The ICE U.S. Dollar Index DXY +0.15 per cent, which had traded as high as 100.43 prior to Navarro's comments, fell 0.8 per cent to 99.62. LME aluminium is expected to find support at its...
<p>When Arun Jaitley, India’s Finance Minister rises to present the Budget for 2017-2018 today, February 1, he faces almost the same challenge for the third time: to convince the country that the Budget would propel the economy towards the much awaited “better days” his government had promised for three years ago before coming to power. This year, the task happens to be even more uphill given the setback India received due to the Union government’s recent demonetization drive. However, fiscal consolidation is not the only theme that is going to be the focus area of this year’s Budget, it has to revive investments and at the same time, boost sectors like manufacturing to push job creation on an immediate basis. This is where aluminium industry can expect to...
<p>Aluminium Stewardship Initiative (ASI) has announced that Aluminium Federation of South Africa (AFSA) has joined the organization as an Associations member.</p> <p>The Aluminium Federation of South Africa (AFSA) is an active aluminium industry association and has, since 1981, been involved in increasing the awareness and use of aluminium in Southern Africa. It offers its members a wide variety of services, the most notable of which are technical information and advice, education, training and skills upgrading, a range of publications and market industry and business development support, including engagement with the authorities on trade and environmental issues. The Aluminium Federation of South Africa (AFSA) is the voice of and the gateway to, the South African Aluminium...
<p>Primary aluminium is the most significant power-consuming industries in Iceland. There are currently three aluminium smelters in operation with a total capacity of over 800,000 mtpy, which puts Iceland at the 11th position among aluminium-producing countries worldwide.<br /><br />The three aluminium smelters in Iceland are in Reyðarfjörður, East Iceland, owned by Alcoa, on Grundartangi near Akranes, West Iceland, owned by Norðurál , a wholly owned subsidiary of U.S.-based Century Aluminum and in Straumsvík near Hafnarfjörður, Southwest Iceland, owned by Rio Tinto Iceland.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/icelandsmelterFeb.jpg"...
<p>Aluminium prices were up by 0.12 per cent to INR 122.35 per kg in futures trading today on India's prime commodity exchange as speculators built up fresh positions amid uptick in demand in the spot market. <br /><br />At Mumbai's Multi Commodity Exchange, aluminium for delivery in current month rose by 15 paise, or 0.12 per cent to INR 122.35 per kg in business turnover of 88 lots.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/MCXAluminiumFeb1.png" alt="News" width="517" height="226" /> <em><strong>Image Courtesy: www.moneycontrol.com</strong></em><br /><br />The metal for delivery in February contracts, however, held steady at INR 122.40...
<p>Century Aluminum has filed an antitrust lawsuit in federal court against Santee Cooper, its power provider. The company accuses the power provider of breaching state and federal antitrust laws to which Santee Cooper assures "vigorous defense."<br /><br />Michael Bless, Century Aluminum Company’s President and Chief Executive Officer said that they had to proceed with the lawsuit because all other attempts including a recent final face-to-face attempt to reach resolution with Santee Cooper had failed.<br /><br />“We have filed this antitrust lawsuit against Santee Cooper as a last resort to save 600 jobs and the nearly $1 billion in economic contributions to the state of South Carolina made by the Mt. Holly plant.” he said. <br /><br /><img style="vertical-align:...
<p>Aluminium prices softened by 0.28 per cent to INR 123.75 per kg in futures trade today as speculators reduced exposure in view of ending monthly expiry amid easing demand in the spot market.</p> <p>At the Multi Commodity Exchange, aluminium for delivery in January declined by 35 paise, or 0.28 per cent to INR 123.75 per kg in business turnover of 112 lots.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/MCXAluminium.png" alt="News" width="517" height="286" /><em>Image Courtesy: www.moneycontrol.com</em></p> <p>Likewise, the metal for delivery in February contracts was trading lower by a similar margin to INR 123.60 per kg in 20 lots.</p> <p></p> <p>Analysts said offloading of positions by...
<p>Donald Trump's isolationism seems to have hurt optimism over pro-business initiatives in the US rather badly. The S&P/ASX200 headed lower at the opening, adding to Monday's falls. The benchmark index was down 0.54 per cent to 5,632.30 at 1038 AEST (1038 GMT, on Monday), reported Bloomberg. Effect on base metals was mixed. LME aluminium ended further lower at US$1,807 per tonne after Monday's night trading, down 1.09 per cent from the previous day's closing of US$1,827 per tonne. <br /><br />Major markets in China remains closed for the Lunar New Year Holiday. Trading will resume on February 3. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LMEAluminiumJan31.png" alt="News"...
