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>Vedanta Limited has published the production Release for the Third Quarter and Nine months ended 31st December 2016.</p> <p>The metal and mining major continued ramp up of Jharsuguda-II and BALCO-II smelters. The company commenced the ramp up of the third line of the 1.25 mtpa Jharsuguda-II smelter in December 2016. The company secured supply of coal from the 6mtpa coal linkages during mid-2016. </p> <p>Commenting on the result, Tom Albanese, Chief Executive Officer, Vedanta Limited, said: "We have made substantial operational progress during the quarter with the enhancement of production from Zinc India and the ramp up of our Aluminium capacities..."</p> <p>The first line of the 1.25 mtpa Jharsuguda-II smelter was impacted by a transformer failure incident. The company is...
<p>Alcoa’s aluminium smelter in Victoria has shown “progress” after Australia government offered financial assistance to the 30-year-old aluminium smelter which was damaged by a state-wide power outrage in December 2016. The smelter has been running at one-third of its 300,000-tonnes-per-year capacity since then. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Alcoa_Hee.jpg" alt="News" width="517" height="226" /><br />Australia's industry minister, Greg Hunt, and Victoria state treasurer Tim Pallas announced in a joint statement, "Significant progress has been made over the weekend, with great demonstrations of good faith from all parties working to find a solution for the...
<p>The Indian government announced Friday, January 13, that it is considering imposing a minimum import price (MIP) on aluminium. The MIP will help check excess cheap aluminium imports from the international market that have been hurting the bottomlines of the domestic primary producers. <br /><br />Balvinder Kumar of Mines Secretary commented: "The government is considering imposing MIP on aluminium… Either on this Monday or Tuesday, the Mines Ministry will send its recommendations to the Commerce Ministry."<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/rods.jpg" alt="News" width="517" height="226" /><br />In August 2016, Aluminium Association of India met Finance Minister Arun...
<p>According to a Wall Street Journal report, $25 million worth of aluminium has been seized by U.S. customs officials. As sources says the stockpile may be linked to a Chinese billionaire accused of dumping cheap aluminium across the world.<br /><br />This is a significant step taken by federal authorities probing the activities of U.S. companies connected to Chinese aluminium magnate Liu Zhongtian in relation to the allegations that the companies are helping the Chinese aluminium major to avoid large chunk of tariff by routing the metal through other countries. In October 2016, the Wall Street Journal reported that Homeland Security and the Justice Department were investigating the matter and the agents questioned former employees of companies associated with Mr. Liu.<br /><br...
<p>LME aluminium has been increasing steadily over the last few days. On Friday, after night trading, the contract closed at US$1,790.5 per tonne, inching higher by 0.13 per cent from the previous closing of US$1,788 per tonne on Thursday. Shanghai Metals Market predicts LME aluminium will keep rising higher on Monday, January 16, and will move in the range of US$1,810-1,830 per tonne. A fluctuating US dollar index near the lows is responsible for the rise in base metals. <br /><br />“The dollar now fluctuates at lows, and this will support base metal prices, but with possible declines technically,” SMM says. <br /><br />Iraq has also confirmed cut in oil output. So, crude oil prices will expectedly rise higher supporting the accelerating base metals on the bourse. <br /><br...
<p>The Aluminium Association of Canada (AAC) intends to review the United States filing at the WTO regarding Chinese subsidies to its aluminium industry, and views the focus on the issue as a positive step.<br /><br />"We welcome the use of the WTO dispute resolution system to initiate a fact-based examination of the concerns of the global aluminium industry and its workers regarding the significant oversupply of aluminium production in China", said Jean Simard, President and CEO of the AAC, adding that "the issues here are complex and the process is lengthy. The AAC will therefore take time in order to assess its implications for our Canadian industry".<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Eurasian Resources Group said on Monday January 9 that its Kazakhstan Aluminium Smelter JSC (KAS) has produced more than 235,000 tons of primary aluminium in 2016, exceeding the annual production target. Since the inception of plant, this was plant’s highest production volumes in the history of plant in nine years.<br />KAS, the only aluminium producer in the Republic of Kazakhstan, has an aluminium capacity of 250 thousand tons per year. In 2016, the plant ran at 94% of its design capacity with an increase of 6.3% over 2015. According to plant’s figures, per reduction cell averaged 2,446 kilograms of primary aluminium.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Base metal prices including aluminium are expected to be buoyed up by falling dollar on Friday, Shanghai Metals Market predicts. LME aluminium price is constantly trending higher to close at US$1,788 per tonne on January 12 and it is expected to hover within a range of US$ 1,780-1,805 per ton on Friday, January 13.<br /> <br />On a very positive note, LME aluminium hit the highest level in 2016 on Thursday’s night trading and relative strength index was at high. SMM predicts that LME aluminium will test USD 1,800/mt and a new market high on Friday as a result of the worry on China’s lower capacity policy of refined aluminium which is floating the market.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Century Aluminum Company’s President and Chief Executive Officer Michael A. Bless today commended the U.S. Trade Representative’s (USTR) announcement that the United States has requested World Trade Organization (WTO) consultations with China regarding the Chinese government’s illegal subsidization of its aluminum industry.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/century.JPG" alt="News" width="517" height="226" /><br />For years, the Chinese government has used its state-directed financial system and other channels to expand and maintain millions of tons of uneconomic and unnecessary primary aluminum smelting capacity. The resulting excess capacity has caused a...
<p>The Obama administration is expected to file a complaint on Thursday with the World Trade Organization (WTO) against China over aluminium subsidies, as reported by Wall Street Journal on Wednesday.<br /><br />The world's two largest economies are expected to affect by the WTO complaint, since President-elect Donald Trump will take the oath of office next week to cut U.S. trade deficits with China as a top priority.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminum_ingots.jpg" alt="News" width="517" height="226" /><br />The U.S. Trade Representative's office will file official complaint for allowing cheap loans from Chinese banks as well as giving subsidized electricity, coal and...
<p>ALUMINIUM of GREECE (AoG), a MYTILINEOS Group subsidiary carried away two awards during the Health & Safety Awards 2016 event organized by Boussias Communications. ALUMINIUM of GREECE is currently Europe’s most modern vertically integrated alumina and aluminium production and trading plant. The award ranks the company among Greece’s leading promoters of health and safety at the workplace. <br /><br />AoG won the first prize for Implementation of the “Health & Safety at work” thematic Consultation with its Stakeholders in the “Alumina and Aluminium Production & Trading” category. The company won the gold award for its “Right Hemisphere” Employee awareness-raising communication campaign on Health and Safety in the...
<p>LME aluminium is trending higher. The contract having risen for six days at a stretch is slated for a further rise as U.S. Dollar turned lower after Trump conference failed to throw light on the details of fiscal policies. Shanghai Metals Market says LME aluminium will move at US$1,750-1,770 per tonne on Thursday, January 12. <br /><br />As on January 11, LME official cash buyer price of aluminium stands at US$1747.5 per tonne, cash seller & settlement price is US$1748.5 per tonne, 3M buyer price is US$1746 per tonne, 3M seller price is US$1,746.5, Dec1 buyer price is US$1,793 per tonne, and Dec1 seller price is US$1,798 per tonne. The current LME official Opening Stock of aluminium is estimated at 2232725 tonnes, total Live Warrants is 1591475 tonnes, and Cancelled Warrant...
<p>AlCircle has been into the business of information dissemination for pretty long and has already become the reference point for the industry as far as news, blogs, events and reports are concerned. We have decided to go a step further in delivering information to our valued users. After creating a digital platform for aluminium industry news, we are now diversifying it to <strong>“AlCircle Mobile Alerts”</strong></p> <p><strong><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/mobile%20alerts.png" alt="News" width="517" height="226" /></strong></p> <p>According to the latest statistics, mobile devices are overtaking desktop computers as people’s preferred device to access the...
<p>Indian Navaratna PSU National Aluminium Company (Nalco) announced commercialization of five out of its 29 registered patents, in Odisha on Sunday. The aluminium producer said that it intends to put its nano-based Emrion Technology for de-fluoridisation to use in endemic fluoride contaminated areas for the benefit of common people.</p> <p>Nalco CMD Tapan Kumar Chand, who was attending the inauguration of Nalco Research and Technology Centre (NRTC) at Gothapatana, said, ""Nalco R&D centre has already registered 29 patents of which 5 have been commercialized. Recently, Nalco achieved commercial success with a breakthrough nano-based Emrion Technology for de-fluoridisation, for the first time in the world."</p> <p>"Considering the need for change to ensure sustainability, we have taken...
<p>The Australian Ministry has said on Monday January 9 that the government offered "substantial" financial support to Alcoa’s aluminium smelter in Victoria. The aluminium smelter in Victoria was damaged by state-wide power outrage in December that caused molten aluminium to solidify.</p> <p>As a result of the blackout, the production was interrupted in the potline at the 300,000-tonnes-per-year Portland smelter; questions have been raised over smelter’s long term future availability.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/portland%20AlcoaPlant.jpg" alt="News" width="517" height="226" /></p> <p>A negotiations between Australia’s leading energy companies AGL Energy and...
<p>Gulf aluminium industry is gearing up for the 5th edition of Aluminium Middle East, the largest event of its kind in the region, slated on May 15-17, 2017 at Dubai International Convention and Exhibition Centre (DICEC). The exhibition is expected to host more than 200 exhibitors from 30 countries and attract over 3,500 industry visitors from over 90 countries.</p> <p>The Middle East posted the second highest YOY aluminium demand growth globally during the first quarter of 2016 at +5.8% contributing significantly to the growing global aluminium demand which is estimated to reach 70 million metric tonnes by 2020. The mega event will showcase how the Middle East is shifting to aluminium as one of the major economy drivers in the post-oil world.</p> <p><img style="vertical-align: middle;...
<p>Fluctuations in LME aluminium are in full swing. The contract kept rising through Tuesday's night trading and ended higher at US$1,757 per tonne, up 2.32 per cent from the previous day's closing at US$1,717 per tonne. Shanghai Metals Market says LME aluminium will likely meet resistance at US$1,750 per tonne and will come down at US$1,730-1,755 per tonne range (still higher from the recent lows) on Wednesday, January 11.</p> <p>The US dollar index, after hitting a two-day low, surged during night trading on Tuesday, and is expected to remain trade bound on Wednesday. According to SMM, the market focus will be on Barrack Obama's farewell speech and Donald Trump's press conference. A strong dollar supported the base metal price rise on the bourse. But volatility in the US dollar index is...
<p>2016 has been a positive 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.<br /><br />Premiums also settled after falling constantly over the last two years. It’s important to note that aluminum premiums fell steeply in 2015, negatively affecting aluminum producers’ performances. Though we saw some recovery in premiums toward the end of 2016,...
