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>LME Aluminium price fall finally took a hiatus with the OPEC members reaching consensus on oil output cut on Thursday. The contract which traded at around US$1,722/mt on Tuesday, closed at US$1,722.50/mt on Wednesday. On Thursday, December 1, LME aluminium price will move in the range of US$1,725-1,745/mt, foresees Shanghai Metals Market. <br /><br />LME official opening stocks of aluminium, as on November 30, stands at 2155050mt, total Live Warrants is estimated at 1388225mt and Cancelled Warrant is recorded at 760925mt. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20Aluminium%20.jpg" alt="News" width="517" height="226" /><br />In China, aluminium traded on Shanghai Metal...
<p>As reported by Recycling Today, Alcoa Corporation, Cleveland, has unveiled Sustana, its newest aluminium product, at the Aluminium 2016 exhibition in Dusseldorf, Germany. The new sustainable product line, which is manufactured with low carbon emissions and more recycled content would cater to customer demand for sustainable aluminium products. The product would help companies to cut carbon footprint along their complete supply chain.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/ingots-tablet-mobile.jpg" alt="News" width="517" height="226" /><br />As explained by Alcoa, the Sustana series has two prime products:<br /><br />1. Ecolum – This is a primary aluminium ingot produced...
<p>LME aluminium is continuing its downward trend. After staging a temporary reversal on November 24, when it touched US$1,774/mt, the contract took a sharp south-bound turn and has been declining since then. It closed at US$1,722/mt after Tuesday's night trading, down 2.51% from the previous closing of US$1,766.50/mt on Monday. <br /><br />The contract will test the 40-day moving average on Wednesday and is expected to move between US$1,700-1,725/mt, forecasts Shanghai Metals Market. <br /><br />LME official 3M Buyer price as on November 29, stands at US$1,723.5/mt, 3M Seller price is US$1,724/mt, Dec1 Buyer price is US$1,738/mt and Dec1 Seller Price is US$1,743/mt. LME official opening stocks is estimated at 2158275mt. <br /><br />As on November 26, LME Aluminium US Premium stands...
<p>According to the report from the International Aluminium Institute and the Aluminum Association, the annual rate of global primary aluminium production was at 58.9 million tonnes during October 2016. This records a drop of 2.3 per cent from the September 2016 rate of 60.2 million tonnes. The increased rate in September was due to the restarted capacity and new capacity extension in China in September which slowed down in October.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary%20production%20october.png" alt="News" width="368" height="257" /><br />Actual monthly production in North America (U.S. and Canada) was up 3.7 per cent in October MOM, but down 10.5% YOY. Production in...
<p>Aluminium futures traded on India's Multi Commodity Exchange edged higher at INR 119 per kilogram today, up 0.29 per cent from the previous close. The uptick in demand at the spot market was caused by speculators creating fresh positions. <br /><br />Aluminium for delivery in November inched higher by 0.29 per cent (35 paise) to INR 119 per kg on MCX, in a business turnover of 920 lots.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/MCX%20aluminum.jpg" alt="News" width="459" height="293" /><br />MCX aluminium price for delivery in December stood higher at INR119 per kg, up 0.29 per cent (25 paise), in a business turnover of 443 lots. <br /><br />Fresh position built up by the market...
<p>ALUMINIUM 2016- the 11th World Trade Fair & Conference begins in Messe Düsseldorf, Germany. The mega aluminium industry event, to be held from November 29- December 1, is being organized by Reed Exhibitions Deutschland GmbH and Project ALUMINIUM. Around 1,000 exhibitors from across the entire aluminium industry’s supply chain- right from raw material along semi-finished and finished products up to machines, structural works, facilities, supplies and surface treatment, are expected to congregate at the trade show making it the global market place for the industry just like its previous editions.<br /><br />At ALUMINIUM 2016, exciting and sustainable themes will be represented in different pavilions – for all industries from automotive, transport, aerospace, building...
<p>Saudi Arabia’s King Salman is scheduled to inaugurate a $35 billion minerals and commodities complex called ‘Ras Al Khair’ in the Eastern Province on Tuesday November 29, according to a report by Saudi Gazette. This would be one of the most ambitious industrial city projects in the Gulf region.<br /> <br />Ras Al Khair took 10 long years to complete and the complex is expected to play a key role in Saudi’s effort to divert the economy towards key non-oil industries. The project is a part of the kingdom’s Vision 2030 economic diversification strategy.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/ras-al-khair-night-2013.jpg" alt="News" width="512"...
<p>LME aluminium after diving overnight on Monday moved above the 10 and 20-day moving averages to close at US$1,766.50/mt. The price fall was in tandem with other base metal futures traded on the exchange. The US long-term government treasury rate increased over market expectations of a possible Fed rate hike later this year. As a result, dollar index rose forcing capital out of the emerging markets. The strengthening dollar, in turn, put downward pressure on the base metal prices thereby reining in their bull run. <br /><br />As per SMM forecast, LME aluminium will move between US$1,730-1,760/mt on Tuesday, November 29. The 3-month buyer price of aluminium as on November 28, stands at US$1,768/mt. The LME official opening stock is estimated at 2131750mt. <br /><br /><img...
<p>Qatari aluminium firm Qatalum is the recipient of the ‘Environmental Excellence Award’ bestowed by the Gulf Aluminium Council. The award was made during the Arab International Aluminium Conference (Arabal 2016) held last week in Dubai.<br /><br />According to local media, the award is in recognition of the firm’s “continual effort” to observe good environmental stewardship by using advanced technologies to lessen the environmental impact of its industrial operations.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Quatalam.jpg" alt="News" width="500" height="287" /><br />“Arabal is a significant platform for Qatalum to highlight the company’s vision...
<p>Positions of LME aluminium increased throughout last week and found a support at lows. After a constant rise the contract closed at its week’s highest at US$1,774/mt on on Thursday. However, on Friday, November 25, LME official cash price of aluminium dropped to settle at US$ 1,751/mt.</p> <p>The 3-months buyer price stands at US$1,751/mt; and the 3-months seller price stands at US$1,752/mt. The LME official opening stock of aluminium stands at 2131750 tonnes and total Live Warrants are estimated at 1356175 tonnes. LME Asian Reference Price of aluminium (3-months ABR) as on November 25 is estimated at US$1754.93/mt. </p> <p>LME aluminium is expected to move between USD 1,750-1,780/mt on Monday November 28.<br /> <br /><img style="vertical-align: middle; display:...
<p>Mecon, India's leading engineering consultant, has recommended imposition of minimum import price (MIP) on primary aluminium products. The firm submitted its report stating its findings and recommendations to the Aluminium Association of India last week. <br /><br />Mecon was appointed by the aluminium industry body comprising domestic aluminium producers Hindalco Industries Ltd., Bharat Aluminium Co. Ltd, Vedanta Ltd, to investigate the case of cheap aluminium imports from China and other countries flooding India market and come up with a report on why there was a need to impose a safeguard duty on the products' import.<br /><br />“The association has forwarded recommendation on imposing MIP at 15 per cent of London Metal Exchange (LME) price on primary aluminium imports to the...
<p>Some big aluminium producers seek a premium of $95-$110 per ton from Japanese buyers for primary metal shipments in the January to March period, up 27-47 percent from the previous quarter, five sources involved in pricing talks said on Friday.<br /><br />Japan is Asia's biggest importer of the metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region.<br /><br />Any increase in the quarterly premiums would mark the first rise in three quarters, and reflect tightening supply, although buyers said the initial offers were too high, the sources said.<br /><br /><br /><br />For the October-December quarter, Japanese aluminium buyers agreed to pay a premium of $75 a ton for the metal, down...
<p>Aluminium prices drifted lower by 0.91 per cent to INR119.85 per kg in futures trading today as traders reduced positions, driven by easing demand in the spot market.</p> <p>At Mumbai's Multi Commodity Exchange, aluminium for delivery in November declined by INR1.10, or 0.91 per cent to INR119.85 per kg in a business turnover of 297 lots.</p> <p></p> <p>Similarly, the metal for delivery in December shed 95 paise, or 0.79 per cent, to INR119.80 per kg in 28 lots.</p> <p>Market analysts said offloading of positions by participants following easing demand from consuming industries at domestic spot markets, mainly led to the fall in aluminium prices at futures trade.</p>
<p>LME aluminium is trending higher. The contract after trading at around US$1,765.50/mt on Thursday closed at US$1,774/mt at the end of night trading. The current LME official cash buyer price of aluminium, as on November 25, stands at US$1,773/mt; the 3-months buyer price is US$1,775/mt; and the 3-months seller price is US$1,775.50/mt. The LME official opening stock of aluminium stands at 2137200 tonnes and total Live Warrants are estimated at 1355175 tonnes. LME Asian Reference Price of aluminium (3-months ABR) as on November 25, is estimated at US$1754.08/mt. <br /><br />According to Shanghai Metals Market forecast, LME aluminium will move between US$1,750-1,770/mt on Friday. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Rio Tinto outlines strategy to generate $5 billion of additional free cash flow over the next five years and the company has unveiled a productivity drive to achieve the same.<br /><br />Rio Tinto chief executive J-S Jacques underlined the strategy in a presentation at an investor seminar in Sydney with a strong focus on safety, cash generation, a world-class portfolio, commitment to capital discipline and the delivery of superior shareholder returns.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Jean-Sebastien-Jacques-600x300.jpg" alt="News" width="517" height="226" /><br />The company said they plan to raise productivity across its $50 billion portfolio of assets by focusing on...
<p>LME aluminium price continues to rise. On Wednesday, the contract closed at US$1,765/mt and Shanghai Metals Exchange says it will range between US$1,760-1,795/mt on Thursday, November 24. The current cash buyer price of LME aluminium is recorded at US$1765/mt and LME official opening stock of the metal stands at 2136300 tonnes.<br /><br />LME Asian Reference Price of aluminium (3-months ABR) as on November 24, is estimated at US$1754.08/mt. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20prices(17).jpg" alt="News" width="517" height="226" /><br />In China, aluminium on Shanghai Metal Exchange traded at US$2,174/mt on Wednesday. On Thursday it opened at US$2,154/mt down 0.91 per...
<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>In a recent submission to the government, the domestic aluminium industry body has sought supportive measures in the next Union budget, including increase in basic customs duty on aluminium products from 7.5 per cent to 15 per cent to check rising imports and reduction of clean energy cess on coal to INR50 per tonne.<br /><br />With a slowdown in the Chinese economy and devaluation of the Chinese Yuan, global metal prices have declined and threat of imports has increased.<br /><br />InfraCircle on 21 November reported domestic aluminium manufacturers have requested the government to exempt the domestic alumina manufacturers from anti-dumping duty on caustic soda.<br /><br />The key requests made by the industry includes increase in customs duty on aluminium products from 7.5 per cent...
