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>The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported that primary aluminium production in North America (U.S. and Canada) was at an annual rate of 3,981,466 tonnes during October 2016 which recorded a rise of 13,428 tpy (+0.3%) from 3,968,038 tonnes in September 2016.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/OCT%20PRIMARY%20PROD.jpg" alt="News" width="372" height="259" /><br /><br />The production rate in the U.S. dropped 1.4 per cent m/m, while the Canadian production rate was up slightly. The YOY comparison of the North American production in October 2016 shows a drop of 10.3 per cent from 4,438,388 tonnes in October 2015. Actual production...
<p>LME aluminium prices dipped 0.67 per cent to trade at US$1,765/mt on Monday, November 14, weighed on by a strong US dollar index which broke through 100 with high expectation of the US interest rate hike in December’s Fed meeting. LME Official Cash Buyer price for the metal stands at US$ 1,776.50/mt and 3-months Buyer price stands at US$ 1778/mt.<br /><br />According to Shanghai Metals Market forecast, LME aluminium will test support at the 5-day moving average and swing between USD 1,720-1,760/mt. Other base metals are also expected to diverge today. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20Prices(11).jpg" alt="News" width="500" height="264" /><br /><br />In China,...
<p>Aluminium stocks in China’s five major markets have been rising steadily recently thanks to recovering shipments from northwest China, SMM learned.<br /><br />Besides, inflows of imported aluminium and arrivals of domestic aluminium by trucks have also helped ease supply tightness, SMM added. <br /><br /><br /><br />It still takes time to digest backlogged aluminium stocks in Xinjiang due to tight rail transport capacity, though, SMM noted.<br /><br />The table below shows details of aluminium stocks at China’s five major markets:<br /><br />Unit: 1,000 tonne<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/China%20aluminium%20stocks(1).jpg" alt="News" width="500" height="115"...
<p>Hindalco Industries Limited, an Aditya Birla Group of company announced its unaudited standalone results for the quarter ended September 30, 2016 on November 12. PBDT for this quarter doubled to INR 899 crore compared to INR 447 crore in Q2 FY16.</p> <p>The company registered a Revenues of INR 9,562 crore during the second quarter and Net Profit jumped 255% to INR 440 Crore.</p> <p>{newsStudioGallery}</p> <p>For the aluminium segment, the company reports robust operational performance in a challenging macroeconomic environment on account of the improvement in efficiency and lower input costs. The quarter also reported improved visibility over coal sourcing and cost was managed well throughout. The company was able to secure the major part of the coal requirement secured through coal...
<p>LME aluminium is all set to enter another volatile phase this week. The contract, after having recovered from the initial aftershocks of the US Presidential election last week, was traded at US$1,777/mt on Friday, November 11. The market was primarily dominated by capital. Shanghai Metals Exchange analysts say market players will get to see a different movement of LME aluminium during Asian and European trading hours. The lightmetal will swing between US$1,735-1,760/mt on Monday. So, investors should remain on the sidelines today, SMM puts up a caveat. <br /><br />Eight Fed committee members will reportedly speak today. Fed vice-chairman said last Friday a rate hike is nearing. The market expects the Fed to increase interest rate in December, driving up the US dollar index to 99.<br...
<p>Aluminium Bahrain B.S.C (Alba) presents its financial results for Q3 2016 on Sunday November 13, 2016.<br /><br /><strong>Q3 2016 Alba Highlights:</strong><br /><br />• Alba boosted its sales volume by 3.1% YoY and production by 2.4% YoY<br />• Alba value-added sales volume was an average 58% of total shipments <br />• Alba saves US$56 per ton YTD on Project Titan Phase II development work, which is on track<br />• Alba continued with their work safety ethics with the launch of Safety Campaign ‘Safety at the Heart of Alba’ <br />• Line 6 quarterly update:</p> <p> o Closing of US$1.5 billion syndicated term-loan facility<br /> o PS5 EPC contract awarded to GE and GAMA Consortium<br /> o L6 Power...
<p>Trinidad is on the verge of witnessing a significant aluminium project getting restarted once the "economics looks good" - assured Prime Minister Dr Keith Rowley in an election meeting in Point Fortin on Wednesday. The People's National Movement (PNM) leader said his administration was working on the Alutrint aluminium plant revival plans. Had the construction work on the plant in La bera been not halted in 2009 as a result of a High Court directive, it would have expedited the diversification of the economy. <br /><br />Rowley cited examples of several countries which have had invested in aluminium plants across the world and were now reaping benefits in terms of solid ROIs. They are currently expanding across the value chain thereby leverage on the strong demand scenario of the...
<p>Vedanta Resources has reported the interim results for the six months ended 30 September 2016.</p> <p>The company reports a revenue of US$4.9 billion and EBITDA of US$1.2 billion for the first half of FY2017 reporting a drop of 15% and 4% respectively compared to the same period of FY2016 primarily due to lower commodity prices.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/jharsuguda-smelter_33785.jpg" alt="News" width="517" height="226" /></p> <p>The company also reports higher operating profit of US$720 million compared to US$578 million in the same period in FY16. Gross debt reduced by US$118 million over one year, however, net debt increased to US$8.2 billion.</p> <p>Vedanta...
<p>Leading global aluminium producer UC Rusal announced today its production and financial results for the three month and nine months ended September 30, 2016. The company posted adjusted net profit and recurring net profit of USD 181 million and USD 327 million, respectively, for the third quarter of 2016 as compared to USD 40 million and USD 276 million for the past quarter of the year.<br /><br />Despite appreciation of Russian Ruble from average RUR65.9/1 US dollar in the second quarter of 2016 to RUR64.6/1 US dollar in the third quarter of the year Rusal managed to decrease aluminium segment cost per tonne to USD 1,330 from USD 1,334 per tonne in the same period of 2015 as a result of continuing focus on efficiency and cost reduction initiatives and external factors such as decrease...
<p>The global import-export trade in unwrought aluminium amounted to US$20,941 million in 2015, showing strong fluctuations over the period under review. Germany was one of the leading destinations of the commodity import in the last fiscal. In fact, it was the second biggest unwrought aluminium importer country only next to the US which imported unwrought aluminium worth US$17.9 billion accounting for 10.8 per cent of total aluminium imports. <br /><br />Germany imported a total of 2.47 million metric tonnes (mt) of aluminium (all shapes, not alloyed) in 2015, down from 2.67 million mt in 2014. In the current financial year, the total aluminium import in the European nation is estimated to reach 2.56 million mt, a rise by 3.5 per cent year-over-year. <br /><br /><img...
<p>Following the election of President-Elect Donald Trump, Aluminum Association President & CEO Heidi Brock joined National Association of Manufacturers (NAM) President and CEO Jay Timmons and more than 1,100 other manufacturing and business leaders from across the United States in pledging to help bring the country back together after a divisive election. </p> <p>“We congratulate President-Elect Trump on his historic victory,” said Brock. “The Aluminum Association looks forward to working with the new Administration – and the new Congress – on key policy priorities for the industry including global trade, upgrading our nation’s infrastructure, energy and environmental regulations.”</p> <p>The letter to President-Elect Trump also...
<p>As market recovered from the knee-jerk reaction of the US presidential elections, LME aluminium prices showed some relaxation and came down marginally to trade at US$1,736/mt on Thursday, November 10. But, analysts believe the dip in the lightmetal prices is not going to continue, and they will soon join the league of other base metals which remained strong overnight and are expected to consolidate at highs today. The LME Cash Buyer price of the contract currently stands at US$1772.00/mt.<br /><br />According to an SMM forecast, LME aluminium is expected to move between US$1,760-1,785/mt on Friday, November 11. “Bullish sentiment remains in base metal market, so price gains are expected to be continuing, and price divergence is also expected to be big,” SMM says. <br /><br...
<p>Some Japanese buyers are showing interest in aluminium for loading in the first quarter of 2017, but a spot offer for December-loading cargo has failed to attract interest, market sources said Monday.<br /><br />Platts CIF Japan spot premium for P1020/P1020A aluminium ingot was assessed at $65-$70/mt plus London Metal Exchange cash CIF Japan Monday, unchanged since October 4, due to a lack of buying interest for December cargoes.<br /><br />Platts assessment is for spot cargo for loading in the following month of transaction.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Japan%20aluminium10.jpg" alt="News" width="517" height="226" /><br /><br />December cargoes are not attracting buyers due...
<p>Shares of Century Aluminum, a loss making producer of standard-grade, high-purity and value-added primary aluminium products in the U.S., are trading 12% higher on Wednesday bringing a sigh of relief to the investors.<br /><br />As a continuation of the downturn of US primary industry, Century reported a net loss of $58.3 million in Q3 against $9.5 million in Q2. Results were negatively impacted by factors like the closure of the Ravenswood facility and market inventory adjustment.<br /><br />On a YOY comparison too, Century reported a net loss of $56.1 million partially caused by factors like smelter closure, market inventory adjustments, labour disruption and other cost cutting measures.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right:...
<p>A second round of environmental inspections put China’s aluminium capacity in the state’s crosshairs yet again, resurrecting fears that punitive capacity shutdowns may be in the offing.<br /><br />Xinhua reported earlier this week that the Ministry of Environmental Protection of China initiated a new round of inspections in October, sending out ten teams of inspectors to evaluate the progress of clean-up operations and the administration of environmental laws in twenty provinces. The targeted provinces include the homes of China’s aluminium industry – Shangdong, Guangdong, Hunan, and Jiangxi. The inspections are to focus upon plants that are less than two years old (specifically plants that were built before January 1, 2015) and that previously passed...
<p>LME aluminium prices have staged a reversal and how. With Donald Trump winning the US Presidential elections yesterday, the market saw an uptick in trading and light metal used in cans to aircrafts soared significantly to close at US$ 1,737.50/mt. <br /><br />The trend is expected to continue in the short term as analysts predict a drop in the US dollar index. This will drive LME aluminium up on Thursday, November 10, when it will likely move in the range of US$1,740-1,770/mt, said SMM in an early morning forecast. However, markets are suggested to keep wary on a technical decline.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20Prices(9).jpg" alt="News" width="480" height="256"...
<p>The European Commission published the long -awaited proposal on China’s so-called market economy status (MES) on Wednesday, November 9. The Commission has in fact, proposed a new non-standard methodology, which will bring about crucial changes to the EU’s anti-dumping legislation. According to the new methodology no market would be classified as market economies or non-market economies. This would indirectly grant MES to China as it comes on the same platform with any other economy.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Gerd-Gotz-European-Aluminium.jpg" alt="News" width="517" height="226" /></p> <p>Expressing his concern over the proposal, Gerd Götz, Director...
<p>LME aluminium prices are tracing a downward slope again. Unlike other base metals which are trending up almost in unison, the lightmetal traded on LME closed at US$1,706/mt after night trading on Tuesday, November 8. The contract was traded at US$1,716/mt a day earlier on the Exchange. <br /><br />At the recently ended ‘LME Week - annual shindig of the industrial metals markets,’ Jorge Vasquez, founder of Harbor Aluminum said, aluminium as a commodity will suffer from a rising glut, record-high stocks, especially in China's key markets, and the increasing forced release of those stocks as financing metrics become strained. Looking at the screen this morning, it seems the observation was not incorrect.<br /><br />LME Aluminium US Premium is still higher at US$150 whereas...
