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>Volatility is setting in across global base metal prices amid cautious market sentiment. LME aluminium after trading at around US$1,752/mt on Wednesday stumbled 0.91 per cent to close at US$1,736/mt on Thursday, December 15. Shanghai Metals Market forecast says, the contract will keep ranging at USD 1,725-1,750/mt on Friday, December 16. <br /><br />As on December 15, the LME Official CASH Buyer Price of aluminium stands at US$1735/mt, CASH Seller & Settlement price is US$1736/mt, 3M Buyer price is US$1728/mt, and 3M Seller price is US$1729/mt. The total LME Official Opening stock of aluminium is estimated at 2092175 tonnes; total Live Warrants is estimated at 1414175 tonnes and Cancelled Warrant is recorded at 675250 tonnes. <br /><br />Global oil market is predicted move into a...
<p>Applied Partners, a company that specializes in remediation has agreed to purchase the Century Aluminum plant in Ravenswood for $15 million. The company will house one of its own subsidiaries on the site and make spaces available for other companies too in the total 1,800 acres of redeveloped lands.<br /><br />The planned purchase was submitted to the federal Securities Exchange Commission on Dec. 2 and the process is expected to complete by the end of next March. The company specializes in reclaiming commodity assets and redevelop properties for future reuse and economic renewal.<br /><br />In an interview, Applied Partners President Mark Cenit appreciated the property and its location in West Virginia.<br /><br /><img style="vertical-align: middle; display: block; margin-left:...
<p>According to the latest series of data released by the International Aluminum Institute, China’s aluminium production in October 2016 increased 1.6 per cent from the corresponding period previous year. This marks the first consecutive year-over-year rise in China's aluminium production. Earlier, aluminium production in the world's biggest market fell YoY for five consecutive months, reports Market Realist.<br /><br />The rising aluminium shipments from China have posed as one of the major challenges faced by the global aluminium industry in 2015. Aluminium majors such as Alcoa and Century Aluminum have held China's ballooning aluminium exports responsible for the lower metal prices.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right:...
<p>LME Aluminium broke through the 5-day moving average as the U.S. Federal Reserve raised interest rate in yesterday's meeting. The contract after trading at highs throughout the day closed at US$1,752/mt on Wednesday, marginally down by 0.17 per cent from Tuesday. With the U.S. dollar index advancing to 102, LME aluminium is expected to diverge in tandem with other base metals; but Shanghai Metals Market says the contract will still hover at highs within the range of US$1,725-1,750/mt on Thursday, December 15. <br /><br />As on Decmber 14, the LME Official CASH Buyer Price of aluminium stands at US$1751.5/mt, CASH Seller & Settlement price is US$1752/mt, 3M Buyer price is US$1741/mt, and 3M Seller price is US$1742/mt. The total LME Official Opening stock of aluminium is estimated at...
<p>There was no immediate threat of "serious injury" to the domestic aluminium industry from the shipments of aluminium products sailing in from China and countries in South East Asia and Middle East, said Directorate General of Safeguard, India, today in its final findings on 'safeguard investigation' concerning imports of 'Unwrought Aluminium (Aluminium not alloyed and Aluminium alloys).' Saying there was no need to impose a safeguard duty on certain aluminium products as sought by the primary producers like Vedanta and Hindalco, DGS rejected their contention outright. <br /><br />The DGS, under the Finance Ministry, said there was data showing import decreasing over the last three years while production and sales of Domestic Industry (DI) have increased. As LME aluminium prices have...
<p>As the U.S. Federal Reserve readies to end the year with Interest Rate Hike to be decided in today's policy meeting, markets take guard with wary sentiment. Crude oil prices, on the other hand, have jumped by 4.82%, sitting at US$56.95/bbl. The price rally in the benchmark oil prices got reflected in LME aluminium prices which were up 0.2% at US$1,755/mt on December 13, in a mixed day. <br /><br />However, the market as of now is cautious ahead of the announcement of Fed’s interest rate decision, and Shanghai Metals Market analysts say base metals including aluminium will move weakly in the short term. The contract will test support at the 5 and 20-day moving averages and will move at US$1,730-1,750/mt on Wednesday. <br /><br /><img style="vertical-align: middle; display: block;...
<p>National Aluminium Company (Nalco) expects its aluminium output to rise 3.5% by the end of FY 2016/17 in the face of growing domestic consumption and rising prices, as told by NALCO Chairman Tapan Kumar Chand to Reuters.<br /><br />The state owned company will end the fiscal year with an aluminium output of 385,000 tonnes, about 3.8% higher than the 372,000 tonnes it produced in FY2015/16.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Nalco%2013.jpg" alt="News" width="517" height="226" /></p> <p>"Nalco is ramping up this production ... to take advantage of growing consumption in the domestic market, and ... to take volume variance," said NALCO Chairman Tapan Kumar Chand. According to...
<p>As reported in the Aluminium Association highlights in cooperation with the Aluminium Association of Canada, primary aluminum production in North America (U.S. and Canada) was at an annual rate of 3,982,153 tonnes during November 2016. This records a drop of 1,438 tpy from the October 2016 rate of 3,983,591 tonnes. The primary aluminium production rate in the U.S. was up 2.9% month on month, while the production rate in Canada was down slightly.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminium%20production.png" alt="News" width="368" height="257" /><br />On a YOY comparison, the North American annual rate dropped 11.3% than the November 2015 rate of 4,489,013 tonnes.<br /><br />...
<p>LME Aluminium met resistance after rising for three consecutive days and closed at US$1,749.50/mt on Monday, December 12. Shanghai Metals Market predicts, the contract will move in the range of US$1,725-1,745/mt on Tuesday. <br /><br />The market is now looking ahead to the possible interest rate hike in Fed’s December end policy meeting. Any effect from possible Fed rate hike will be limited to base metals, unless the rate hike unexpectedly shakes global market, analysts believe. This year, base metals price dynamics mainly hinged on China’s demand and capacity restriction this year. The same will continue through 2017 unless any major cutback in Chinese aluminium smelter is announced. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto;...
<p>The Manufacturers for Trade Enforcement (MTE), a coalition representing more than one million workers in the aluminum, steel, cement, chemical, textile and other manufacturing industries, today expressed appreciation for the U.S. government’s continued commitment to apply its established criteria for determining whether a county is a non-market economy for purposes of the antidumping law.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/china%20aluminium.jpg" alt="News" width="517" height="226" /><br />China has claimed that it should automatically receive market economy status following the 15th anniversary of its accession to the World Trade Organization (WTO) on December 11, 2016....
<p>China government sent environmental protection teams to seven regions from November 24 to 30 to supervise environmental protection work, including Beijing, Shanghai, Guangdong, Hubei, Chongqing, Shaanxi and Gansu. SMM conducted a survey to find out the impact of the inspections on smelter owners. <br /><br />Since the beginning of 2016, Chinese government has taken a tough stance in environmental protection inspections. Domestic aluminium and alumina producers are mostly large-size producers equipped with environmental protection facilities, and so they have suffered little impact from the inspections, except one aluminium producer in central China. The producer was requested to shut down its captive power plant and to source electricity from power plant directly in the previous round...
<p>LME Aluminium ended the last week amid gains after increasing for three days in a row. The contract broke through the 20-day moving average and closed at US$1,742.50/mt after Friday's night trading. According to Shanghai Metals Market forecast, with the market firming LME aluminium will increase on Monday market to move in the range of US$1,735-1,760/mt. <br /><br />As on December 9, LME official Cash Seller & Settlement price of aluminium is recorded at US$1742.5/mt, 3M Buyer price is recorded at US$1,737.50/mt, 3M Seller price is US$1,738/mt, DEC1 Buyer price is US$1,750/mt and DEC1 Seller price is US$1,755/mt. <br /><br />The LME Official Opening Stock of aluminium, as on December 9, stands at 2107525 mt, total Live Warrants is estimated at 1383425 mt, and Cancelled Warrant is...
<p>LME aluminium strengthened as speculation over positive key macroeconomic data to be released on Friday and in the short term supported commodity prices. The U.S dollar futures index neared a one-week high during afternoon trading on Thursday, after European Central Bank President Mario Draghi announced there will be no talk of tapering stimulus to zero. <br /><br />Oil rebounded from the week's lows to close above US$50 a barrel on Thursday as market watchers focused on an upcoming weekend meeting between OPEC and non-OPEC producers that may result in an agreement to cut crude output further, reported CNBC. <br /><br />LME aluminium closed at US$1,731.50/mt after Thursday's night trading, up 0.20 per cent from the previous losing of US$1,728/mt. According to Shanghai Metals Market...
<p>Russian aluminium behemoth Rusal and power generator Rushydro will be deciding on the proposed capacity enhancement of their Boguchansk aluminium smelter in the first quarter of 2017, Rushydro said in on Thursday.<br /><br />The companies had earlier decided to increase the capacity of the aluminium smelter by 300,000 tonnes. Now, they are said to be toiling with the idea of boosting the capacity to 600,000 tonnes. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Rusal_Smelter.jpg" alt="News" width="517" height="226" /><br />Rushydro's top executives said in Moscow that were considering three options: to stick to the planned 300,000 tonnes capacity enhancement; to go ahead with increasing...
<p>MetalMiner aluminium MMI inched lower in November. A rising dollar put some pressure but prices held well overall. Analysts say they do see some potential on the upside.<br /><br />Something that has concerned aluminium investors throughout the year is the potential increase in Chinese aluminium production. However, restarts seem to be less than what the markets were expecting earlier. Rising costs of production will likely limit additional restarts, opine analysts.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium%20MMI.jpg" alt="News" width="517" height="226" /><br />China’s clampdown on coal mining and supply disruptions in Australia has led to a spike in seaborne coal...
<p>Russian Tycoon Deripaska is looking around for hundreds of millions of euros from the state of Montenegro, as he has been striving for compensation for a lost investment in a failing aluminium plant.<br /><br />Deripaska's Central European Aluminium Company (CEAC) acquired 58.7 % stake in 2005 in the Balkan country's sole aluminium plant, Kombinat Aluminijuma Podgorica (KAP).<br /><br />After the financial crisis in 2008, the government withdrew half of that debt for equity deal and kept the plant buoyed up with heavy subsidies. As demanded by the European Union, which Montenegro aims to join to cut subsidies thrusting plant to bankruptcy which finally leads to closing down.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Egypt aluminium industry had been logging a healthy growth being driven by a steady demand from the building and construction sector before the Egyptian government took the courageous steps of liberalising its currency while raising fuel prices and import tariffs at the same time, very recently. Among the goods affected the most are aluminium products. Higher upstream the value chain, the primary industry which once enjoyed the advantage of being a low-cost producer due to availability of cheaper fuel will now be faced with the challenge of coping with shrinking margins, since prices of the metal have been falling across major bourses on the back of a global glut. Egyptalum with a total annual production of around 320,000 tonnes is the largest aluminium smelting company in Egypt.</p>...
<p>LME aluminium seems to be moving into a volatile range. The contract after trading at around US$1,718/mt on Tuesday, closed with gains at US$1,728/mt after Wednesday's night trading. Rising oil prices which climbed to a 16-month high after OPEC agreed to trim output, last week, by 1.2 million bbl/day buoyed the base metal price up on the global exchange though with intermittent slides. <br /><br />According to Shanghai Metals Market, LME aluminium should range between US$1,695-1,725/mt on Thursday. <br /><br />As on December 7, LME official opening stock of aluminium stands at 2118325mt, total Live Warrants is estimated at 1384875mt and Cancelled Warrant is estimated at 728500mt. The current Cash Buyer price of aluminium is US$1727.5/mt and Cash Seller & Settlement price is...
