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>In a New Year press release by London Metal Exchange on December 31 confirmed that warehouse firms within LME’s network of more than 600 warehouses in 37 locations have announced lower rent rises for the Fiscal Year starting in April.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20jan2.jpg" alt="News" width="517" height="226" /><br />This was the final chapter of the three-year series of changes at the 139-year-old metal exchange that was initiated five years back. LME said that, in 2017, it would freeze the maximum rate for five years to curb surging costs. It is to be noted that the new reforms also introduced tough rules to slash delivery backlogs.<br /><br /><br /><br...
<p>After the 2017 New Year holiday weekend, the London Metal Exchange market resumes trading tomorrow on Tuesday, January 3. LME aluminium remained flat on Friday as trading was muted due to the year-end liquidity crunch. The contract at the end of the year's last working day closed at US$1,713.50 per tonne against the previous day's closing of US$1,730 per tonne. Going by the slow momentum in the market, little uptick is expected in the LME aluminium price on Tuesday. <br /><br />As on December 30, the LME official Cash Buyer price of aluminium stands at US$1,730 per tonne, Cash Seller & Settlement price is US$1,713.50 per tonne, 3M Buyer price is US$1,701 per tonne, 3M Seller price is US$1,701.5 per tonne, Dec1 Buyer price is US$1,713 per tonne, Dec1 Seller price is US$1,718 per...
<p>Aluminium prices weakened by 0.17 per cent to INR 116.10 per kg in futures market today as traders trimmed their positions, taking negative cues from spot market on subdued demand.<br /> <br />At the Multi Commodity Exchange, aluminium for delivery in January month declined by 20 paise, or 0.17 per cent, to INR 116.10 per kg in business turnover of 48 lots.<br /><br /><br /><br />Likewise, the metal for delivery in December contracts traded lower by 10 paise, or 0.09 per cent, to INR 117.10 per kg in 75 lots.<br /> <br />Market analysts said that offloading of positions by participants following sluggish demand from consuming industries in the physical market, mainly influenced aluminium prices at futures trade.<br /><br /></p>
<p>Indian government’s demonetization move is showing positive impact on the mines and the metals, power, and coal sectors, reveals latest data. Aluminium production in the country has logged a month-over-month rise in November this year.<br /><br /><img style="display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/remelt%20aluminium.jpeg" alt="News" width="517" height="226" /><br /> The production of aluminium metal by NALCO shows 3.34% growth in November, as against October2016. November 2016 witnessed a growth in aluminium production at 32164 million tonne (MT) as compared to 31123 MT in November 2015. </p> <p>Coal Production also witnessed a significant growth in November over October after demonetization. State...
<p>The year-end liquidity crunch is getting reflected way too acutely on the LME aluminium prices, and this is evident from the falling prices of the metal on the bourse. LME aluminium closed at US$1,713 per tonne after Thursday's night trading, down 0.78 per cent from the previous day. Today happens to be the last trading day of the year, and Shanghai Metals Market analysis predicts the contract will keep falling on Friday moving at US$1,670-1,690 per tonne range.</p> <p>“Trading is estimated to be light during the last trading day of 2016, with small falling room,” SMM says.</p> <p>Crude oil, one of the key macroeconomic factors, hit highest the level since July 2015 on hopes of supply cut. So, analysts are expecting global aluminium prices will improve in the new year....
<p>Japan’s aluminium industry is import based and it has stopped producing primary metal altogether shifting its focus towards value added applications and in secondary recovery. The country is Asia's top importer of aluminium and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange cash price set the benchmark for the Asia region.</p> <p>{newsStudioGallery}</p> <p>The two major aluminium product manufacturers in Japan are Kobe Steel and Aluminium and UACJ Corporation who make aluminium plates, pre coated sheets and various rolling products for value added applications. Japanese buyers purchase aluminium via annual contracts as well through spot markets where premiums have dropped to their lowest in more than seven years.</p> <p><img...
<p>As per IRNA report, Germany and China opens up line of credit for the development of aluminium plant in Jajarm city, northern Khorasan province, Iran. Mehdi Karbasian, Deputy Minister of Industry, Mine and trade announced on Wednesday that these two countries opened credit line after signing an agreement to invest in graphite electrode in Ardakan city as well.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/mining_industry_200514.jpg" alt="News" width="517" height="226" /><br />Karbasian added that after the enactment of Joint Comprehensive Plan of Action (JCPOA), worldwide companies have started forming joint ventures with the Iranian partners in the country’s mine sector. Since 10...
<p>Emirates Global Aluminium (EGA) announced yesterday that it is expanding its operations in America. The decision comes at a time when the newly elected Trump government in the United States has pledged to revive the domestic core industries such as metal production and product manufacturing on the back of foreign investments. <br /><br />EGA, owned equally by the Abu Dhabi government-owned Mubadala Development and Investment Corporation of Dubai, has doubled its market size in the US over the last few years. With the planned expansion, it now aims to cash in on this opportunity while catering to the rising demand in the US.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/EGA(1).jpg"...
<p>The London Metal Exchange market after remaining closed over the weekend till Tuesday, for Christmas, resumed trading yesterday on a low note. Aluminium traded on the bourse closed at US$1,726.5 per tonne after Wednesday's night trading, down 0.77 per cent from the previous closing of US$1,740 per tonne on Friday. The contract dropped below the 60-day moving average and is expected to range between US$1,695-1,720 per tonne on Thursday, December 29. <br /><br />“LME base metal market reported weak price after returning from Christmas holiday, and overall sentiment is expected to remain weak due to tight year-end liquidity and low trading sentiment before year-end,” says Shanghai Metals Market analysis. <br /><br />LME Aluminium price has risen from the lows of 2015...
<p>2016, for the global primary aluminium industry, was the year of price stabilization (rising from the 2015’s lows), surging aluminium exports from China, increasing surveillance by the industry bodies on improper international trade practices, downfall of the once influential U.S. primary aluminium industry and shifting trend towards downstream value-addition. But, of all the challenges that kept cropping up throughout the year, environmental sustainability remained the top priority area for all stakeholders in the primary aluminium ecosystem. From boardroom to laboratory, people were found making concerted efforts to make the aluminium production process less hazardous and more energy efficient so that carbon footprint could be reduced and cost could be optimized.</p>...
<p>The Vietnamese aluminium market is expanding piggybacking the growth of major end user industries such as packaging. Latest studies reveal Asia will be the biggest consumer market of the light metal in 2017 and South-east Asian countries will drive the growth. The aluminium can market in Vietnam, for instance, is expanding by about 10 per cent per annum rate as a result of population growth and rising living standards. Encouraged by the high traction, investments are flowing in with beverage can manufacturing companies like SDK and SAC aiming to continuously expand their business in Vietnam through a stable and speedy supply of products that meet market needs. To meet this increasing demand, the country is sourcing aluminium (both in alloyed, non-alloyed and extruded forms) from...
<p>LME market is resuming trading today and LME aluminium is expected to climb higher due to firm Shanghai Futures Exchange prices. But Shanghai Metals Market says any rise will be limited with resistance from the moving averages. LME aluminium prices are expected to hover in the range of US$1,710-1,730 per tonne, says SMM. <br /><br />Looking at the key macroeconomic factors, Dallas Fed’s December Business Activity Index and the US pending home sales in November are going to be released today. The US housing market is positive given the recent uptick in sales; job market is showing slow improvement; and CCI and home prices are rising. Supported by these factors, LME base metal prices are expected to move higher, after opening low on Wednesday, December 28.<br /><br />In China,...
<p>After the Directorate General of Safeguard Duty, India has recently rejected the plea by the primary producers to impose extra duty on imports of 'Unwrought Aluminium (Aluminium not alloyed and Aluminium alloys) citing that there is no immediate threat of "serious injury" to the domestic aluminium industry from aluminium imports from China and Middle East, domestic producers are making a strong case for imposing Minimum Import Price (MIP) similar to the steel products. They are getting ready to put up the case during Budget 2017-18.</p> <p><img style="display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminum1.jpg" alt="News" width="517" height="226" /><br />The domestic producers argue that the cheaper imports from China and the Gulf...
<p>London Metal Exchange market remains closed today for Christmas. So, LME official CASH Buyer price of aluminium, as on December 23, stands at US$1,739 per tonne, Cash Seller & Settlement price stands at US$1,740 per tonne, 3M Buyer price is US$1,718 per tonne, and 3M Seller price is US$1,718.5 per tonne. LME Official Opening Stock of aluminium is estimated at 2139575 tonnes, total Live Warrants is 1501450 tonnes and Cancelled Warrant is 648575 tonnes.<br /><br />Looking at the global key macroeconomic factors, US home prices have escalated steadily; profit in China's major industrial hubs is expected to improve in November on the back of increased value-addition during January-November; November PPI witnessed the largest rise of 3.3 per cent YOY in 3.5 years; and commodity prices...
<p>Market activity has weakened over the Christmas weekend and will remain muted through the week. The UK and the US markets under London Metal Exchange will remain closed on Monday and Tuesday for the Christmas holidays. LME aluminium inched hiher by 0.14 per cent to close at US$1,740 per tonne on Friday’s night trading. <br /><br />Year-end holiday factors combined with liquidity crunch in the international markets left investors keeping off trading after they were done with profit-making. Hence, commodity prices are expected to fall ‘within a limited range’ this week.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20Aluminium_23%20Dec.jpg" alt="News" width="517"...
After China, another region that is growing substantially in primary aluminium production is the GCC (Gulf Corporation Council) or the Gulf countries. The volume of aluminium production in the Gulf region stood at 5.2 million tonnes in 2015, accounting for around 10 per cent of total global output of 58 million tonnes. This is due to the major expansion of existing smelters and commissioning of new projects that primary aluminium production is increasing at a faster rate in the GCC countries. After oil and natural gas, now aluminium is one of the key economic drivers for the Gulf region. Gulf countries are constantly working towards making a shift towards non-oil sector especially the aluminium industry which gets the benefit of cheap energy and abundance of manpower and high technology....
<p>Emirates Global Aluminium, EGA, and GE power signed a Memorandum of Understanding (MoU) with each other on a 100 day program to diminish EGA’s nitrogen oxide NOx discharge under the UAE government Accelerator programme.<br /><br />Abdulla Kalban, Managing Director and Chief Executive Officer of EGA, and Joseph Anis, President and Chief Executive Officer, Power Services for the Middle East & Africa, GE Power, signed the MoU, in the presence of HE Dr. Thani Ahmed Al-Zeyoudi, Minister of Climate Change and the Environment at the Government Accelerator headquarters in Emirates Towers in Dubai.<br /> <br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/EGE.jpg" alt="News" width="517"...
<p>LME aluminium price improved to close at US$1,737.5 per tonne on December 22 and it is expected to hover within a range of USD 1,715-1,730/mt on Friday.<br /><br />As on December 22, LME official CASH Buyer price of aluminium is US$1737 per tonne, CASH Seller & Settlement price is US$1737.5per tonne, 3M Buyer price is US$1720 pe tonne, 3M Seller price is US$1721 per tonne, DEC1 Buyer price is US$1733 per tonne, and DEC1 Seller price is US$1738 per tonne.<br /> <br />LME official Opening Stock of aluminium currently stands at 2139575 tonnes, total Live Warrants is estimated at 1486675 tonnes, and Cancelled Warrant is 652900 tonnes.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
