Bell Bay Aluminium (BBA), Australia's oldest aluminium smelter, is reviewing its workforce and offering redundancies for a small number of positions, just over a month after receiving an AUD 200 million (USD 137.52 million) government support package aimed at securing the facility's future until at least 2031. Up to 10 roles are understood to have been affected by the review, although the smelter is expected to retain its existing workforce of approximately 550 full-time equivalent (FTE) employees. Some redeployment opportunities will also be available, while the positions identified are not understood to involve frontline services. The changes reportedly include some former participants in Bell Bay Aluminium's graduate programme. Rio Tinto, which operates the smelter near George Town in...
South32 expects the sale of its aluminium value chain assets to Alcoa to be completed in the six months ending June 2027. The proposed transaction covers its aluminium operations and related bauxite and alumina assets in South Africa, Australia and Brazil. The sale follows a binding conditional agreement signed by the two companies, under which Alcoa agreed to acquire the assets for up to USD 5.6 billion . The assets include South32's Hillside Aluminium smelter and the idled Bayside smelter in South Africa, its interests in the Boddington bauxite mine and Worsley alumina refinery in Australia, and the Mineração Rio do Norte bauxite mine and Alumar alumina refinery and aluminium smelter in Brazil. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
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Norsk Hydro, one of the world's largest aluminium producers, launched new cost cuts on Thursday to combat a sharp decline in prices triggered by an oversupply of metal from China. By the end of 2019, the company aims to reduce its annual costs by 2.9 billion Norwegian crowns ($335.70 million), of which 1.1 billion would come in 2016, it said in a statement ahead of a two day investor conference in London. The new plan follows cost cuts of 4.5 billion crowns since 2011. The benchmark three-month aluminium price has tumbled nearly 30 percent in the past year to six and a half year lows, pressured by output exceeding demand. China's production of aluminium is expected to be 2-2.5 million tonnes higher than the country's consumption in 2016, resulting in a global oversupply of up to 1 million...
Centrum Broking expects aluminium prices to recover next year as over supply in the world market tapers off with China and global aluminium majors cutting back on production in the last few months. The brokerage said the recovery in prices will be based on actual fundamentals rather than speculation this time. It expects global demand to outstrip supply by 0.3 million tonne in 2016. "We expect deficit in aluminium to return in 2016 and pave way for smart recovery in prices as fundamentals, rather than speculation or financial activity, increase in salience for determining prices. Hindalco Industries is our preferred play on an aluminium price recovery," the report said. Centrum maintained its buy on Hindalco, Vedanta and Hindustan Zinc. It said sharp under-performance of non-ferrous...
According to the data released by the Bureau of Economic Analysis, the U.S. real gross domestic product increased at an annual rate of 2.1 percent in the third quarter of 2015, while in the second quarter, real GDP increased 3.9 percent. The demand for aluminium in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 19,528 million pounds through September 2015, up 1.4 percent over the same period last year. The demand for semi-fabricated (mill) products totaled 13,999 million pounds, up 5.5 percent. Apparent consumption (demand less exports) in domestic markets totaled an estimated 17,380 million pounds, increasing 5.5 percent year-to-date. Aluminum net shipments (including exports) by domestic U.S. and Canadian facilities totaled an estimated...
Ms Heidi Brock, President & CEO, Aluminum Association made a very strong commentary on global commitment to environmental stewardship at the 21st Session of the COP 21 Climate Summit. She advocated that as some industries, like the aluminum industries of North America and Europe, gained traction on greenhouse gas reductions, it became imperative to level the playing field with their counterparts in markets like China. An excerpt from her commentary below: "As the global community convene in Paris to finalize a lasting agreement tackling climate change, one thing is clear: It will take a steadfast commitment from companies, industries and governments in order to ensure that the agreement is a success. That is why businesses across the globe have been striving to do their part to reduce...
Aluminium settled up 1.96% at 98.90 as trader eyed for possible government support in China to help stem an industry downturn that has pushed prices to more than six-year lows. Meanwhile Manufacturing activity in China hit a three-year low in November, an official survey showed, supporting the case for more accommodative policies. A private survey showed November manufacturing contracted at a slower pace than in October. Both metals have been hurt by the severe slowdown in China's sector, and have been unable to capitalise much on planned output cuts. Also support seen after the update that State Reserve Bureau buying of metals and/or government investigations of short positioning, would in our view at best temporarily support metals prices, potentially providing a selling/producer...
Aluminium prices firmed up by INR 2 per kg at the non-ferrous metal market today, tracking a firm trend overseas. Traders said increased demand from consuming industries and a firming trend in metal at the London Metal Exchange supported the upside in aluminium prices. Meanwhile, aluminium for three-month delivery rose 0.8 per cent to USD 1,480 a metric tonne on the London Metal Exchange. In the national capital, aluminium ingots, sheet cutting, wire scrap and utensils scrap were up by INR 2 each to INR 142, INR 138, INR 138 and INR 136 per kg, respectively. Following are today's aluminium rates (in INR per kg): aluminium ingots INR 142, aluminium sheet cutting INR 138, aluminium wire scrap INR 138 and aluminium utensils scrap INR 136.
Norwegian aluminium company Norsk Hydro ASA is focusing its Capital Markets Day 2015 on the efforts to become better, bigger and greener as a means to create value for shareholders. Industry-leading improvement programs, technological leadership, capital discipline and financial strength contribute to strengthen Hydro's relative position in challenging markets. As part of the "Better" ambition, Hydro is raising its improvement ambition with an additional 2.9 billion NOK by end-2019, it is realizing the "Bigger" ambition with selective growth projects such as the Karmøy Technology Pilot, and it is on track to become carbon-neutral from a life-cycle perspective as part of the "Greener" ambition. A complete status update on the Better, Bigger, Greener aspiration will be presented at the...
National Aluminium Company (Nalco), the country's largest state run aluminium producer is drawing up a focussed policy to step up its share of procurement from local businesses in its home state of Odisha. "We are already procuring goods and services worth INR 400 crore from MSMEs every year. Now, we are coming up with a focused policy to procure more from Odisha-based MSMEs, T K Chand, CMD, Nalco has said. "As an industry leader, if we want to chart a course of success, we have to take the ancillary industries along with us," Chand said while speaking on the sidelines of CII's Enterprise Odisha at IDCO Exhibition Ground on Tuesday. Citing the example of US-economy, Chand pointed out that in the US, the main yardstick of evaluating economy is employment generation. "We can generate more...
As the energy sector begins to face new challenges, the importance of aluminium is growing. In order to fully harness its potential, it is important that the industry not only take daring new approaches but also bolster winning formulas already in place. Annually, Qatalum, Hydro and Qatar University join hands in developing and supporting competence in aluminium production, application and research in Qatar. This year is no different. On December 14th, between 7:30 am and 2:00 pm, Qatalum will participate at the Annual Aluminium Symposium at the InterContinental Hotel in West Bay. The Symposium is themed around 'The Engine for Growth in the Region' wherein various papers and presentation will be made by distinguished professionals within the field on topics related to production, usage...
Aluminium Bahrain B.S.C (Alba) is proud to announce that its Chairman of Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa has been awarded the Lifetime Achievement Award by the Middle East Business Leaders Awards (MEBSLA) 2015. He was honoured with this prestigious award for his exemplary leadership and immense contribution towards business transformation creativity. Shaikh Daij was awarded by H.E. Abdul Rahim Hassan Naqi, Secretary General, Federation of GCC Chambers (FGCCC) during the awarding ceremony, which was held on Monday, November 30, 2015 at Armani Hotel, Burj Khalifa, Dubai, United Arab Emirates (UAE). The MEBSLA Awards is organised by the American Leadership Development Association (ALDA), co-organised by the Leaders International Magazine and endorsed by the...
Workers at the Rio Tinto Alcan aluminium smelter in Straumsvík, South-West Iceland, could come out on strike from tomorrow if no solution is found to a row over working conditions. A short and inconclusive round of talks yesterday failed to resolve the dispute between the operators of the plant and its workers, and if there is no breakthrough today, strike action will begin at midnight tonight. Should it come to industrial action, workers will continue to turn up for work for the next two weeks, but only in order to gradually shut down the plant’s 480 electrolysis pots, which are used to smelt the aluminium. The main issue at stake is the demand of Rio Tinto employees for no new contracting powers for operations at the plant to be authorised.
Aluminium prices edged up by 0.36% to INR 97.35 per kg in futures trade today as participants enlarged positions amid a firming trend overseas. Besides, strong demand in spot markets influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in December inched up 35 paise, or 0.36%, to INR 97.35 per kg in a business turnover of 188 lots. Metal for delivery in January 2016 also rose by a similar margin to trade at INR 98.25 per kg in just one lot. Traders said that apart from increased domestic demand, a firming global trend helped aluminium futures trade higher.
The Mount Holly aluminum smelter in Goose Creek may shut down at the end of this year after owner Century Aluminum and electric utility Santee Cooper failed to reach an agreement on a new power contract for the plant. Michael Bless, Century’s president and CEO, said the closure “would be a tragedy” and that he remains hopeful for a last-minute reprieve. The current contract expires Dec. 31. “We want in the worst way to find a way to keep that plant running,” Bless said of the smelter, which employs about 600 workers. The stalemate between Century and Santee Cooper intensified Monday as the utility’s board of directors voted 10-0 to reject the company’s contract proposal. Bless said Monday that Century cannot operate under Santee Cooper’s counter-offer. Century has been buying 75 percent...
The Aluminum Association and the Aluminium Association of Canada released an open letter sent to U.S. Secretary of State John Kerry and Canadian Minister of Environment & Climate Change Catherine McKenna in advance of the 21st Session of the Conference of the Parties (COP21) meeting in Paris this week. In the letter, they expressed their concern about China’s state-planned and carbon intensive aluminum industry which has amassed considerable overproduction. They said it is leading to a distortion of international trade impacting the entire value chain and undermining global efforts to decarbonize the economy. They highlighted the consistent improvement they made in their production processes over the past two decades as measured by primary energy demand and greenhouse gas emissions per...
Emirates Global Aluminium announced that it has obtained initial certification to the ISO 27001:2005 ISMS standard in 2006 (in DUBAL) and in 2012 (in EMAL) as a part of its corporate information security compliance programme, which aims to reduce the threat and vulnerability posed to the business continuity by information security risks. Excellent work done in the interim by the Information Technology department has led to the development of an integrated information security system at EGA , which was certified to the more stringent ISO 27001:2013 ISMS standard (an upgraded version of the 2005 edition) on 12 July 2015. Lloyd's Register Quality Assurance ("LRQA", an internationally renowned third-party certification body) issued the certificate to EGA after conducting a comprehensive...
The U.S. Environmental Protection Agency (EPA) and Glencore announced an agreement signed on November 30 to study the level of contamination at the Columbia Falls Aluminum Company site. Senator Tester and Governor Bullock have been urging Glencore for long to come up with acton plans to clean up the plant after discussing the matter with local stakeholders. In January this year, after Glencore walked away from negotiations, Senator Tester sent a letter to the EPA asking them to list CFAC as a superfund site. “I’m pleased Glencore has finally realized it has an obligation to the people of Columbia Falls,” Tester said. “As this process moves forward, I will continue to hold the company and the EPA responsible for ensuring this site is cleaned up and revitalized so we can continue to...
66% of the 38 Chinese aluminium smelters surveyed by SMM are bearish toward this week’s aluminium prices . Another 21% expect prices to stabilize, while the rest 13% see a rally. Those pessimists see LME aluminium falling below USD 1,450/mt and SHFE 1602 aluminium down below RMB 10,000/mt. Domestic aluminium processors will show lower buying interest, due to poor end-user demand, tightening year-end liquidity and recent volatility in SHFE aluminium . Moreover, suppliers will rush to sell to raise cash, another drag on the light metal. Those neutralists see SHFE 1602 aluminium hovering around RMB 10,000/mt. Short-covering will occur once SHFE aluminium retreat from RMB 10,000/mt, but longs will take profit after SHFE aluminium return to near RMB 10,500/mt. The rest expect LME aluminium to...
National Aluminium Company (Nalco) is currently trading at INR 40.60, up by 0.80 points or 2.01% from its previous closing of INR 39.80 on the BSE. The scrip opened at INR 39.80 and has touched a high and low of INR 40.70 and INR 39.50 respectively. So far 171445 shares were traded on the counter. The BSE group 'A' stock of face value INR 5 has touched a 52 week high of INR 61.65 on 28-Nov-2014 and a 52 week low of INR 28.00 on 25-Aug-2015. Last one week high and low of the scrip stood at INR 40.70 and INR 37.10 respectively. The current market cap of the company is INR 10463.59 crore. The promoters holding in the company stood at 80.93% while Institutions and Non-Institutions held 12.42% and 6.65% respectively. Nalco has received USD 8.05 million towards an out of court settlement from...
