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...
Grow with
AL Circle
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, has been performing reasonably well in light of the market conditions, according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa.<br /><br />The statement was made following the fourth quarterly meeting for the year 2016, which was held on Wednesday December 07, 2016 at Alba.<br /><br />The Board approved the minutes of the previous meeting, which was held on Wednesday September 28, 2016 as well as reviewed the reports of the Board Executive Committee, Board Audit Committee and the Nomination and Remuneration Committee during the meeting. <br /><br />At this meeting, the Board reviewed and approved the 2017 Annual Operating Plan....
<p>Navratna PSU N alco is ready to provide hand-holding support to its regular MSME vendors who ensure quality and timely delivery of products, the aluminium major's CMD T K Chand said. <br /><br />As a responsible large-scale industry, Nalco shall make efforts to publicise select MSME brands, along with its own brand image publicity, he added. </p> <p><strong></strong></p> <p>Chand was addressing the inaugural ceremony of MSME-Expo Odisha 2016 in Cuttack yesterday. The Expo, along with a 3-day National Level Vendor Development Programme, is being held at Killa Maidan, Cuttack. <br /><br />Addressing representatives of various industries, banks, small enterprises, start-ups, as well as officials of MSME departments of the state and Centre, Chand appreciated the micro, small and medium...
<p>LME aluminium prices took a hit as US dollar index rallied on Tuesday's night trading. The contract underperformed and dropped below the 40-day moving average closing at US$1,718/mt on Tuesday, down 0.58 per cent from previous day's closing at US$1,728/mt. <br /><br />According to Shanghai Metals Market forecast, LME aluminium will test US$1,700/mt and will range at US$1,695-1,720/mt on Wednesday, December 7. <br /><br />As on December 6, LME official 3M Buyer price of aluminium is US$1712.5/mt, 3M Seller price is US$1713/mt, DEC1 Buyer price is US$1727/mt, and DEC1 Seller Price is US$1732/mt. LME Official Opening stock of the metal currently stands at 2129200 mt, total Live Warrants is recorded as 1384875 mt, and Cancelled Warrant is estimated at 733450 mt. <br /><br /><img...
<p>Alcoa Corporation announced yesterday that Molly Beerman has been named Vice President and Controller of the company, and she will serve as principal accounting officer, effective Dec. 9.<br /><br />“Molly is a seasoned financial professional with a successful track record at Alcoa of driving process and operational improvements," said Alcoa Chief Financial Officer William Oplinger. "In addition to her accounting acumen, Molly’s experience makes her ideally qualified to take on this leadership role at Alcoa as we review our systems to run our new company more cost-effectively and efficiently.”<br /><br />Ms. Beerman succeeds Robert Collins who has been Controller since 2013 and will be taking a role outside of the company.<br /><br />“Bob made a significant...
<p>Aluminium demand in the United States and Canada (shipments by domestic producers plus imports) amounted to 19,928 million pounds during the first three quarters of 2016 increasing 2% over the same period last year.<br /> <br />Demand for aluminium semi-fabricated (mill) products amounted to 14,029 million pounds increasing one –tenth of 1% year-over-year. In domestic market, apparent consumption (demand less exports) amounted to 17,552 million pounds, up seventh-tenth of 1% year-to-date.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/FireShot%20Capture%20aluminium%20demand%201.png" alt="News" width="375" height="226" /><br />During October 2016, aluminium net shipments (including...
<p>Rio Tinto has reached an agreement to sell its assets at Lochaber, Scotland to SIMEC for consideration totalling $410 million (£330 million).<br /><br />The sale purchase agreement comprises the sale of Rio Tinto’s 100 per cent shareholding in Alcan Aluminium UK Limited which includes the operating smelter, the hydroelectric facilities at Kinlochleven and Lochaber as well as all associated land.<br /><br />Rio Tinto Aluminium chief executive Alf Barrios said “This is a value-creating sale for Rio Tinto and represents another example of refining our portfolio to focus on our suite of tier one assets.<br /><br />“At the same time, our priority has been to ensure a long-term sustainable future for Lochaber and economic benefit for the wider Fort William community....
<p>The aluminium futures contract on the Multi Commodity Exchange (MCX) fell over 3 per cent to close at INR116.85 per kg in the past week.<br /><br />However, the contract has begun this week on a slightly positive note and is currently trading at INR117.5.<br /><br />A key support is at INR116.2. If the contract breaks below this support decisively it can extend the fall to INR114 this week. The level of INR114 is a strong support and a possibility of a reversal from there cannot be ruled out. Such a reversal can take the contract higher to INR116 or INR117.5 thereafter.<br /><br />On the other hand, if the aluminium futures contract manages to sustain above the support at INR116.2 in this week it can bounce to INR119.25 initially.<br /><br /><br /><br />A further break above INR119.25...
<p>LME Aluminium reversed its downward trend as two major macroeconomic factors- the US dollar index and oil prices gave support. The US dollar index dropped to 100 from highs after Italian vote and oil soared more than 10 per cent on Wednesday to over $50 a barrel- its highest in a month, helping LME aluminium prices rise. The contract which traded at around US$1,715/mt on Friday, last week, rose higher by 0.75 per cent to close at US$1,728/mt on Monday, November 5. <br /><br />Shanghai Metals Market says, LME aluminium should strengthen further and move at US$1,715-1,740/mt on Tuesday. <br /><br />As on November 5, LME official stock of aluminium stood at 2139275mt, Total Live Warrants was recorded at 1384875mt Cancelled Warrant was at 744325mt. <br /><br /><img...
<p>Of late, Mexico has been hitting the aluminium industry headlines for all the wrong reasons, related mostly to its somewhat dubious role in the international trade market. According to the recent industry reports, significant quantity of fake aluminium semis has been emanating from the country, a large chunk of which has been heading towards Vietnam. Till end of July this year 7,400 metric tonnes of “extrusion metal units” have left Mexico, and according to Global Trade Information Services, Vietnam was the destination of 91 per cent of Mexico’s aluminium-extrusion exports. Experts say Mexico shipping aluminium products to Vietnam does not make much economic sense, since Vietnamese market is already highly saturated. But nevertheless, Mexico remains one of the busiest...
<p>Elections in Italy held on November 4 saw majority Italians voting against the move to amend post-war constitution and Prime Minister Matteo Renzi stepping down in populist revolt which sent the US dollar to new highs. The strong dollar, in turn, weighed down LME aluminium prices. The contract closed at US$1,715/mt after Friday’s night trading last week. Shanghai Metals Market expects, LME Aluminium will meet resistance at the 5-day moving average on Monday and will move at US$1,705-1,725/mt. <br /><br />As on December 2, the 3M LME official Buyer price of aluminium was recorded at US$1,712/mt, 3M Seller Price was at US$1,713/mt, DEC1 Buyer Price was at US$1,725/mt, and DEC1 Seller price was at US$1,730/mt. LME official opening stocks of aluminium is estimated at 2144850mt,...
<p>According to the latest InfraCircle update, India's ministry of mines is likely to announce its decision in favour of imposing minimum import price (MIP) on aluminium. The state-run engineering consultancy firm Mecon recently submitted a report to the ministry recommending imposition of MIP on primary aluminium to guard the domestic producers of the metal agianst cheap imports from China and the Middle East. The firm is readying to submit a second report stating facts from the downstream industry's point of view. <br /><br />“We had detailed discussions over the first report of Mecon during the past few days. It has been decided that the ministry of mines may suggest MIP on primary aluminium products and we are soon going to write accordingly to the ministries of finance and...
<p>The major global aluminium events get over before the holidays start. The month of December still has some major aluminium events that take place mostly in the Asian subcontinent. The warmer climate makes it more apt for the westerners to visit this part of the world and mix work and pleasure. The aluminium events will offer ample opportunities for networking and marketing and mine business opportunities in the fastest growing aluminium industry in Asia. Here are a few key industry events that are worth visiting during the last month of 2016.</p> <p><strong>1. </strong><strong>ALUCAST 2016 </strong></p> <p><strong>Date: 1st – 3rd December, 2016 </strong></p> <p><strong>Location: Bangalore, India</strong></p> <p>ALUCAST 2016 is India’s biggest exhibition...
<p>A fault on the Victorian transmission network on November 30 cut power to the potlines of Alcoa’s Portland smelter for more than five hours. Alcoa as a result has curtailed production at one of the potlines at its smelter to ensure safety of the workers.<br /><br />"Efforts are focused on maintaining production in the smelter's second potline," the company statement said. "It is too early to speculate on the full impact of the power outage, or on how long it may take to restore normal operations," the statement added.<br /><br />Minister for Industry and Employment, Wade Noonan said he had been assured there would be no impact on the workforce because of the accident.<br /><br />It is to be noted that the Victorian Government recently refused to renew the 20-year power subsidy to...
<p>Mining major Vedanta resources plans to invest INR 150 to 200 billion ($2.93 billion) over next three years to expand its alumina and aluminium producing capacity in Odisha, India, according to a statement made by Anil Agarwal, chairman of Vedanta Resources Plc. on the inaugural day of the ‘Make in Odisha’ conclave, one of the biggest events highlighting investment in the state. The state government also confirmed that it got investment proposals in excess of INR 60,000 crore.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/vedanta-.jpg" alt="News" width="517" height="226" /><br />The company has already expressed its intention to expand the capacity of its Lanjigarh alumina...
<p>LME Aluminium is edging higher. After the Organization of Petroleum Exporting (OPEC) Countries reached a consensus to cut production by 1.2 million barrels a day starting in January 2017, yesterday, the metal investors took a cue and moved money into the commodity markets making industrial metals rise across the board. Crude being a key asset and the main benchmark for energy prices is expected to keep the prices of the metals buoyed at least for the short term. Higher energy prices signify higher logistics cost and higher cost of production, especially for energy-intensive metals like aluminium. <br /><br />LME aluminium closed at US$1,724/mt, up 0.11% from the previous day closing of US$1,722/mt. The contract is expected to fluctuate between US$1,710-1,745/mt on Friday, December 2,...
<p>A U.S. judge on Wednesday threw out the last vestiges of private litigation over alleged aluminum price-fixing, dismissing lawsuits by Eastman Kodak Co, Fujifilm Holdings Corp, Reynolds Consumer Products and three other plaintiffs.<br /><br />U.S. District Judge Katherine Forrest in Manhattan on Oct. 5 dismissed nationwide litigation in which purchasers accused Goldman Sachs Group Inc, JPMorgan Chase & Co, mining company Glencore Plc and others of conspiring from 2009 to 2012 to boost prices by reducing supply.</p> <p><strong></strong><br /><br />Forrest later agreed that the other six plaintiffs were entitled to have their claims considered separately because they had filed their own lawsuits.<br /><br />But she said those claims must also fail because there was no proof that the...
<p>India is a net exporter of aluminium. At the same time, the country imports a large volume of aluminium to use in different downstream applications in the automotive, construction and defence sector. Imports now account for 56 per cent of domestic demand. The import is mostly driven by lower cost as imported aluminium is cheaper than domestically produced aluminium.</p> <p>{newsStudioGallery}</p> <p>Imports of aluminium alloys stood at 189317 tons in 2014. The volume increased slightly to 207375 tons in 2015. In 2016, the aluminium alloy import is estimated to increase to 243393 tons. The data shows a constant rise in import of aluminium alloys. The imports are mainly driven by UAE and China. In the year 2014, India imported 30588 tons of aluminium alloys from UAE. The import...
<p>The Aluminum Association announced today the addition of three new member companies – <strong>Cerro Wire LLC, Granges Americas Inc. and Reynolds Consumer Products.</strong> The companies join the Association as producer members – firms that make or fabricate aluminum products. Additionally, <strong>Matt Aboud, President of Hydro Aluminum North America</strong> was recently approved as a member of the Executive Committee, a subset of the Board of Directors which provides strategic guidance directing all Aluminum Association programs and activities.<br /> <br />“As we continue to chart a sustainable course for the domestic aluminum industry, we’re pleased to bring in these new voices to help us tell the industry’s story,” said Garney Scott,...
