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>The last week has been marked by a quick gain in all the major indices (SENSEX & NIFTY) and Nifty Metal index outperforming the major indices by a good margin, recording gains of 6%.</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>The current week stock market activities are expected to be driven mostly by the details provided by the Finance Minister, Arun Jaitley from Wednesday morning which is the budget day for the next Financial Year. The Finance Minister’s budget will set the tone for the metal market as there is no major trigger working at present and the market participants are ignoring poor earning...
<p>A filing with the U.S. Securities and Exchange Commission confirms that Century Aluminum has completed the sale of its Ravenswood smelter to Applied Partners Inc. for about $15 million. Both the companies signed a sale agreement on Dec. 2 and all the official formalities were completed on Friday.</p> <p> <img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/century123.jpg" alt="News" width="517" height="226" /></p> <p>Applied Partners, a firm based in Delaware, would house one of its own subsidiaries on the site and make rest of the lots available for other companies. Allied Partners is a leading development company that specializes in buying idle commodity assets and preparing them for physical...
<p>LME aluminium after scaling a nine-month high on Tuesday, last week, January 24, has been easing out due to a light trading sentiment. The contract has fallen by 2.29 per cent from the mid-week high of US$1,870 per tonne. On Friday, January 27, LME aluminium closed at US$1,827 per tonne after night trading, down 0.59 per cent from the previous day's closing of US$1,838 per tonne.</p> <p>The monthly chart of US dollar index has been throwing up some bullish indications. In the coming days too, the index is expected to move up. If that happens, LME aluminium will dip further moving in the range of US$1,810-US$1,830 per tonne.</p> <p>Another indicator, the crude oil finished lower on Friday, last week. The futures logged a modest weekly loss, as investors turned their attention to rising...
<p>2017 has unveiled itself with positive expectations for the aluminium industry when LME aluminium prices hit 20-month peak in January at US$1870 per ton in anticipation of capacity cut in China, supported by retreating dollar. The second month of the year unfolds a number of significant events from the recycling, end user and aluminium processing sector. Aluminium metal processing is getting much advanced with the application of latest technologies. Events that cover aluminium metal processing and the end user application are going to draw a good amount of visitors and industry participants in 2017. We are giving a list of the top aluminium events from the month of February, so that you can block your dates for the events.</p>...
<p>Industrial automation has changed the face of global aluminium industry. From optimizing power conversion systems and re-tuning engineered power utility interfaces to equipping plants with cutting-edge statistical quality control systems, leading automation providers have helped the otherwise energy-intensive industry address its power consumption issues more effectively while ensuring enhanced precision in product manufacturing. With the increased use of mechanized equipment and logical programming commands human error in decision making and manual command-response activities has been reduced to the lowest. Be it in primary aluminium production or in extrusions manufacturing or 3D printing with aluminium, automation has added a whole new dimension to the lightmetal engineering.</p>...
<p>Boyne Smelter Limited is in the process of determining the number of job cuts and production reduction at its facility in Australia. The aluminium company, unable to cope with the surging electricity costs, is mulling downsizing, reported sources aware of the matter. This comes at a time when aluminium has made a comeback from its yearlong downturn in 2015-2016. The metal, on London Metal Exchange, surged to touch a nine-month high at US$1,870 per tonne on Tuesday, January 24. Yet, Boyne Smelter seems to see little hope in the development.</p> <p>Joe Rea, general manager of the Australian aluminium company said the dwindling market condition of aluminium has already made it difficult for the smelter to perform well on the global market- hence, the decision to cut production as well as...
<p>LME aluminium has eased out after rising to record highs on Tuesday, January 24. The contract closed at US$1,838 per tonne, down 0.59 per cent from the previous day's closing of US$1,849 per tonne. As per Shanghai Metals Market's earlier prediction, the contract is likely to hover in the range of US$1,810-1,840 per tonne in the short term.</p> <p>As on January 26, LME official cash buyer price of aluminium stands at US$1,837 per tonne, cash seller & settlement price is US$1,837.5 per tonne, 3M buyer price is US$1,838 per tonne, 3M seller price is US$1,840 per tonne, Dec1 buyer price is US$1,870 per tonne, and Dec1 seller price is US$1,875 per tonne. The current LME official Opening Stock of aluminium is estimated at 2290075 tonnes, total Live Warrants is 1634200 tonnes, and...
<p>LME aluminium fell after Wednesday's night trading to US$1,849 per tonne, down 1.12 per cent from the previous day's price of US$1,870 per tonne. Analysts opine a faltering crude oil is responsible for the marginal decline in the metal price. According to Shanghai Metals Market forecast, the contract will move at US$1,810-1,840 per tonne on Thursday, January 26.</p> <p>As on January 25, LME official cash buyer price of aluminium stands at US$1,848.5 per tonne, cash seller & settlement price is US$1,849 per tonne, 3M buyer price is US$1,844 per tonne, 3M seller price is US$1,844.5 per tonne, Dec1 buyer price is US$1,873 per tonne, and Dec1 seller price is US$1,878 per tonne. The current LME official Opening Stock of aluminium is estimated at 2284725 tonnes, total Live Warrants is...
<p>As reported by Bloomberg, China’s proposal to curtail metal production in winter in order to control air pollution may cause shortages of alumina but will have little impact on aluminium supply, as explained by one the top industry bodies in China.</p> <p>The proposal will cause production suspension in alumina refineries in three provinces which would curtail about one fifth of China’s total alumina capacity.</p> <p>The halts to aluminium production will be less because of its high demand in a number of end user applications. According to the plan, about one tenth of the country’s total aluminium capacity would be targeted by this halt, across Hebei, Shandong, Henan and Shanxi provinces.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto;...
<p>A number of analysts downgraded shares of Century Aluminum Company in 2016 after its negative performance in Third Quarter results. However, after the U.S. election results were out, the shares of the company, traded on the Nasdaq under ticker CENX, had been on a steady rise. During the current week, the shares of Century appreciated over 24%.<br /><br />Century Aluminum Company operates three U.S. aluminium smelters, in Hawesville, Kentucky, Robards, Kentucky, and Mt. Holly, South Carolina, and one smelter in Grundartangi, Iceland. The company announced partial curtailment of production at the Hawesville facility in 2016. Century’s primary aluminium facilities produce standard grade and value-added primary aluminium products.<br /><br /><img style="vertical-align: middle;...
<p>2016 has turned out to be a buoyant year for primary aluminium after a long period of volatility. LME aluminium prices recovered 13.4% in 2016 ending the year with a rate of USD 1714 per ton. The market sentiment on aluminium has improved considerably since the beginning of 2016, when prices hovered at a range of USD 1466 to USD 1500 per ton. Falling supply in China with the closure of capacity and demand growth as the result of China’s infrastructure initiatives supported the price throughout the year. The production base for primary aluminium has visibly shifted to Asia while the market primarily remains in the east.</p> <p>{newsStudioGallery}</p> <p>Here we are trying to analyse the trading pattern for primary aluminium covering the major primary aluminium suppliers in Asia....
<p><span id=":bc.co" class="tL8wMe EMoHub" style="text-align: left;" dir="ltr">Alcoa Corporation, a global leader in bauxite, alumina, and aluminium production reported fourth quarter 2016 results on Tuesday, January 24, registering profit growth at the combined segment level and an improved cash position.</span></p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/alcoa1.jpg" alt="News" width="517" height="226" /></p> <p><strong>Highlights:</strong></p> <p>• Net loss of $125 million as a result of costs to streamline portfolio<br />• Excluding special items, adjusted net income of $26 million, or $0.14 per share<br />• EBITDA excluding special items of $335 million, up 18 per cent...
<p>LME aluminium price remained unchanged yet firm at US$1,870 per tonne on Tuesday on speculations that aluminium producers in major China markets would cut output to cope with increasing air pollution. Shanghai Metals Market went on to explain that rising production cost, tax burden, entry of low-cost capacities and exit of domestic high-cost producers, and supply surplus of aluminium along with proliferating aplications were the factors responsible for the rumoured production cut. However, according to today's SMM morning forecast, LME aluminium will stay firm at US$1,850-1,890 per tonne on Wednesday. <br /><br />As on January 24, LME official cash buyer price of aluminium stands at US$1,869 per tonne, cash seller & settlement price is US$1,870 per tonne, 3M buyer price is US$1,867...
<p>Emirates Global Aluminium (“EGA”), has filed four new patents that increase productivity and operating efficiencies. The patent applications result from EGA’s technology development programme, which has focused on continual improvement for the past 25 years. <br /><br />EGA’s latest reduction technology, DX+ Ultra, has more than double the pot productivity of the company’s original D18 technology. Last year EGA licensed DX+ Ultra to Aluminium Bahrain for Alba’s potline 6 expansion, making EGA the first UAE industrial company to license its own large scale industrial technology internationally.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Rio Tinto has reached a binding agreement for the sale of its wholly-owned Australian subsidiary Coal & Allied Industries Limited to Yancoal Australia Limited for up to $2.45 billion comprising:<br /><br /> • An initial $1.95 billion cash payment, payable at completion; and<br /> • $500 million in aggregate deferred cash payments, payable as annual instalments of $100 million over five years following completion.<br /><br />Prior to 24 February 2017, Yancoal Australia is entitled to elect an alternative purchase price structure of a single cash payment at completion of $2.35 billion.<br /><br />After the sale is completed, Rio Tinto will also be entitled to potential royalties.<br /><br />Rio Tinto chief executive J-S Jacques said...
<p>LME aluminium is continuing its rise. The contract having risen 1.68 per cent from the previous day's closing of US$1,839 per tonne, ended at US$1,870 per tonne after Monday's night trading. Shanghai Metals Market forecast says LME aluminium may meet some resistance and hover at US$1,830-1,840 per tonne on Tuesday, January 24. <br /><br />As on January 23, LME official cash buyer price of aluminium stands at US$1,868 per tonne, cash seller & settlement price is US$1,870 per tonne, 3M buyer price is US$1,861 per tonne, 3M seller price is US$1,863 per tonne, Dec1 buyer price is US$1,885 per tonne, and Dec1 seller price is US$1,890 per tonne. The current LME official Opening Stock of aluminium is estimated at 2298625 tonnes, total Live Warrants is 1628600 tonnes, and Cancelled Warrant...
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, was the proud winner of the 2017 Occupational Excellence Achievement Award and the 2017 Significant Improvement Award by the National Safety Council (NSC) – USA. These wins endorse the Company’s long-standing commitment to Safety as well as its efforts in creating a safe working environment for its employees and contractors alike.<br /><br />The NSC Occupational Excellence Achievement Award is granted to organisations that meet strict criterions based on the results in their safety performance in accordance with the OSHA requirements in the USA.<br /><br /><br /><br />Commenting on winning this accolade, the Chief Executive Officer Tim Murray, said:<br />“Alba's track record for...
<p>Herbert smith Freehills and Allens, the noted international law firms, have suggested AGL on the power deal that the company signed on recently. Silverton Wind Farm and the aluminium smelter in Victoria are the two deals that these law firms have suggested on.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/AluSmelterJan23.jpg" alt="News" width="517" height="226" /><br />HSF suggested AGL on the 200MW Silverton Wind Farm project that the company signed a few days back on its delivery, planning and land while Allens suggested on its sale and project financing of the wind farm venture worth $450 million.<br /><br />The HSF also suggested AGL on a new four-year electricity supply...
