Bell Bay Aluminium (BBA), Australia's oldest aluminium smelter, is reviewing its workforce and offering redundancies for a small number of positions, just over a month after receiving an AUD 200 million (USD 137.52 million) government support package aimed at securing the facility's future until at least 2031. Up to 10 roles are understood to have been affected by the review, although the smelter is expected to retain its existing workforce of approximately 550 full-time equivalent (FTE) employees. Some redeployment opportunities will also be available, while the positions identified are not understood to involve frontline services. The changes reportedly include some former participants in Bell Bay Aluminium's graduate programme. Rio Tinto, which operates the smelter near George Town in...
South32 expects the sale of its aluminium value chain assets to Alcoa to be completed in the six months ending June 2027. The proposed transaction covers its aluminium operations and related bauxite and alumina assets in South Africa, Australia and Brazil. The sale follows a binding conditional agreement signed by the two companies, under which Alcoa agreed to acquire the assets for up to USD 5.6 billion . The assets include South32's Hillside Aluminium smelter and the idled Bayside smelter in South Africa, its interests in the Boddington bauxite mine and Worsley alumina refinery in Australia, and the Mineração Rio do Norte bauxite mine and Alumar alumina refinery and aluminium smelter in Brazil. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
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About 32% of the 25 Chinese aluminium smelters surveyed by SMM paint a dismal picture of aluminium prices this week. They are bearish that LME aluminium will fall below USD 1,465/mt and that SHFE 1603 aluminium will drop below RMB 10,600/mt, citing a series of negative factors: 1. Major Chinese aluminium smelters have announced plans to hoard aluminium from the market, but no action has been taken yet; 2. Downstream producers will begin closing early for the 2016 Chinese New Year holiday due in early February; 3. Global stock market remains weak. Chinese A-share market fell to 2847.54, a one-year low; 4. Crude oil prices will fall as sanctions on Iran are to be lifted soon; 5. US industrial output fell 0.4% MoM in December, triggering pessimism over US Q4 GDP. Another 48% expect SHFE 1603...
The 4th Iran International Aluminium conference (IIAC2016) with the motto "Aluminium, key to a sustainable industry" will take place on the 11-12 of May 2016. In this conference apart from promoting the aluminium industry, the upgrading of aluminium knowledge is also considered of vital importance. With these critical facts in mind, the deadline for full text entry has been set for the 30th of January. According to the scientific committee, about 220 abstracts have been received up to this point. Among the well-known names sponsoring this conference, "Fives" is one of the first to show interest. Also due to the importance of media relations in this conference, Aluminium International Today, Aluminium Times, Metals Market, Iran Mavad, and AlCircle along with a few other renowned media...
Rio Tinto released solid fourth quarter production results despite the challenging market conditions. Rio Tinto chief executive Sam Walsh said Rio Tinto remained focused on operating and commercial excellence against the industry's "challenging market backdrop". "In 2015, we delivered efficient production, meeting our targets across all of our major products, while rigorously controlling our cost base," he said. "We will continue to focus on disciplined management of costs and capital to maximise cash flow generation throughout 2016." Highlights for Aluminium Business • Continued strong performance in bauxite exceeded full year guidance of 43 million tonnes, with record third party shipments of 26.6 million tonnes. • Aluminium production was in line with 2014, with record annual...
Base metal prices on the SHFE are expected to be vulnerable to losses this week, Shanghai Metals Market foresees. “China will release a bag of 2015 economic data, and this, coupled with narrower volatility of Chinese yuan in offshore market, will pressure the Shanghai prices, and the condition of SHFE stronger than LME will likely be changed,” SMM says. Overseas investors now also eye on European Central Bank’s rate decision on its January meeting. SMM forecast for most actively-traded contracts in aluminium spot market is 10,580-10,750 yuan per tonne.
LME aluminium is expected to meet resistance at the 40-day moving average and move at USD 1,458-1,483/mt on Monday. SHFE 1603 aluminium should consolidate at RMB 10,580-10,750/mt. In China’s spot market, spot discounts of RMB 0-10/mt and premiums of RMB 0-30/mt are expected over SHFE 1601 contract.
The National Association of Manufacturers (NAM) announced today that Heidi Brock, president and CEO of the Aluminum Association, has been elected chair of the NAM’s Council of Manufacturing Associations (CMA) to serve a one-year term. The CMA, made up of nearly 260 industry-specific manufacturing associations, is a vital component of the NAM, providing resources and networks to members to broaden the reach of the NAM’s advocacy efforts. “No executive is better equipped than Heidi to lead manufacturing association executives in this critical time in history,” said NAM President and CEO Jay Timmons. “Her ability to transcend Washington rhetoric and advocate on behalf of her members is inspirational. She is a true leader in the business advocacy community. Heidi continues to forge new life...
As Associate Sponsor for the seventh consecutive year, UAE aluminium giant Emirates Global Aluminium ("EGA") will again play a pivotal role at the World Future Energy Summit ("WFES") 2016, hosted by Masdar at the Abu Dhabi National Exhibition Centre from 18 to 21 January. Jointly owned by Mubadala Development Company and Investment Corporation of Dubai , EGA has supported the event since 2009. Held under the patronage of His Highness Sheikh Mohammed Bin Zayed Al Nahyan (Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces), WFES is a key part of Abu Dhabi Sustainability Week 2016. The annual event is widely considered the world's foremost summit dedicated to advancing future energy, energy efficiency and clean technology. As in prior years, the 2016 summit will...
LME aluminium may bounce to resistance at $1,479 per tonne, as it has found a support at $1,453. The resistance and the support are identified respectively as the 38.2 percent and the 50 percent Fibonacci projection levels of a downward wave C, the third wave of a three-wave cycle from the September 9, 2015 high of $1,655.50. A break below $1,453 could confirm the continuation of the wave C towards $1,426, the 61.8 percent level, while a break above $1,479 could lead to a gain to the 23.6 percent level at $1,511.
Vietnam Deputy Prime Minister Hoang Trung Hai has asked the country's coal sector to prioritise coal production for domestic use, thereby ensuring the stability of the national energy reserve. In order to extract 55 million tonnes (mt) of coal by 2020, the sector, according to the industry sources, is expected to expand 10 mines and open 40 additional pits. During a conference convened by the Vietnam National Coal and Mineral Industries Group (Vinacomin) in Ha Noi yesterday to review its 2015 activities and launch 2016 tasks, PM requested Vinacomin to increase exploration and mining using advanced and eco-friendly technologies. It was required to devise cost-effective business plans, and solutions to climate change, while further promoting personnel training and improving the livelihoods...
Five major GCC primary aluminium producers EGA (UAE), Alba (Bahrain), Ma’aden Aluminium (KSA), Qatalum (Qatar) and Sohar Aluminium (Oman) have collectively produced 5,274,729 tons of primary aluminium in 2015. 7% more than 2014. “This is the highest production record reflecting improved efficiency and optimising resource utilization”, said Mr. Daylami, Secretary General of Gulf Aluminium Council. GCC aluminium production constitutes 10% of the total world production and is considered one of the key economic drivers for the Gulf region. About 40% of the total production is utilized by the downstream aluminium industries in the Gulf and 60% exported to different parts of the world. GCC remains one of the leading regions for aluminium production with higher environmental standards compared...
Aluminium settled down -0.61% at 97.75 logging small losses while LME aluminium, which has been the best LME performer this year, finished down 0.8 percent at $1,450 a tonne, the lowest since Dec. 1 last year. Prices may see support today as profits ahead of key trade data from China, but the recent onslaught of selling was expected to resume given struggling demand-growth in the world's top user of metals. Meanwhile, metals company Alcoa Inc on Monday reported a quarterly net loss after charges related to shuttering parts of its traditional smelting business. CME Group has logged the first trades in its Japan aluminium premium contract, data from the exchange showed on Monday, just days after the industry hammered out the first quarter premiums for Asia's biggest importer of the metal....
Noranda Aluminum Holding Corporation has announced actions principally designed to reduce costs in the company's integrated upstream aluminium business, which comprises its bauxite mining operation in Jamaica, its alumina refinery in Gramercy, Louisiana, and its primary aluminium smelter in New Madrid, Missouri. These actions are in response to continued low aluminium prices, the previously announced idling of two pot lines at the company's aluminium smelter in New Madrid, Missouri, and other business issues affecting the company's upstream operations. "These actions reflect our intense focus on managing cash and available liquidity in an especially challenging business environment for our integrated upstream business," said Layle K. "Kip" Smith, Noranda's President and Chief Executive...
Aluminium prices are unlikely to face the sort of erosion that has hit other base metals. Experts said prices are unlikely to drop below INR 93 per kg, having recovered to Rs 98.55 on Wednesday for January contracts after declining to INR 97.60 on January 7 on MCX from INR 99.90 on December 31, 2015. A variety of factors have contributed to arresting a steep drop in aluminium prices, said Himanshu Gupta, senior market strategist at Karvy Commodities Broking. "Malaysia is pushing to suspend bauxite mining due to concerns about its impact on the environment, which could interrupt supply of the aluminiummaking ingredient to China," said Gupta. Besides, Alcoa has plans to close its 2,69,000 tonneper-year Warrick smelter in Evansville, Indiana, by the end of the first quarter of 2016 which...
Oleg Deripaska, president of the world’s biggest aluminium manufacturing group Rusal, says the outcome of the Paris Climate Summit late last year was nothing more than an agreement for 196 countries to “kick the can down the road a few decades’’. He writes that for a summit notionally about emission reductions, none were meaningfully agreed to in Paris. “Indeed, even the applauding atmospheric chemistry scientists at MIT’s (Massachusetts Institute of Technology) Global Change Program calculated that if all the unenforceable, non-binding pledges made in Paris were implemented, the improvement by 2100 would total only 0.2 degrees Celsius.’’ A harsh critic of Australia’s previous carbon tax forays, Mr Deripaska emphasises that the adoption of a carbon tax has to be a global response....
Aluminium Bahrain B.S.C (Alba), a leading aluminium smelter in the world, held its first Executive Series Training for 2016 on Sunday, January 10, 2016 at Alba Oasis Hall. The Workshop, part of Alba’s Executive Education series, focused on aligning the management team on what needs to be done to further boost the company’s performance to combat the severe downturn in commodity prices. The training session was delivered by Mr. Mark Magnacca President and Co-Founder of Allego, who is a renowned motivational speaker and also the author of the management book “So What?” Commenting on the Workshop, Alba’s Chief Executive Officer, Tim Murray said: “With the collapse of all-in-aluminium prices it is critical that the objectives of the company are aligned to ensure we survive during these...
Alcoa Inc.’s upbeat forecast for global aluminium supply and demand in 2016 is bullish. The world’s third largest aluminium company had said in November that it expects a deficit (demand exceeds supply) to the extent of 360,000 tonnes. Along with its fourth quarter results, the company on Tuesday announced an increase in its deficit forecast to 1.2 million tonnes (mt). How did Alcoa arrive at this number? It expects global consumption to rise by 6% in 2016, with China’s demand growing by 8% and rest of the world by 4%. That’s an aggressive forecast, considering the troubles in emerging markets, especially in China, which has a 51.6% share in the 2016 consumption estimate. In 2016, Alcoa expects 4.4 mt of additional production from new or restarted projects too. But crucially, it expects...
Six large Chinese aluminium producers in China are considering forming a joint venture company that will handle primary aluminium stockpiling, a report by state-backed research firm Antaike said on Tuesday. The six companies -- four state-owned firms and two private enterprises -- include Aluminium Corp of China (Chinalco), State Power Investment Corporation, Yunnan Aluminium, Jiugang group, Jinjiang group and Weiqiao Aluminium & Electricity, Antaike said. The amount that the joint venture company will stockpile has not been decided, according to the report. An aluminium stockpiling plan has been discussed over the past few weeks after aluminium prices fell to multi-year lows in the second half of last year, and is likely to be funded by commercial loans, sources have said. The...
UC RUSAL, a leading global aluminium producer, announces a number of senior staff appointments within the company’s Aluminium Division. Evgeny Popov has been appointed as Managing Director of Sayanogorsk Aluminium Smelter (SAZ). Prior to the appointment, Mr Popov worked as Director of Production Department of the Aluminium Division. Evgeny Kuriyanov has been appointed as Managing Director of Irkutsk Aluminium Smelter (IrkAZ). Prior to the appointment, Mr Kuriyanov worked as Director for Reduction Process at Krasnoyarsk Aluminium Smelter (KrAZ). In their new roles, Evgeny Popov and Evgeny Kuriyanov’s responsibilities will include expanding the range of value-added products (VAP), improving these products’ quality, continuing the RUSAL Business system’s further development, as well as...
