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>UC RUSAL the leading, global producer of aluminium contributing about 7% of global production of aluminium and 7% of alumina announces its operating results for the third quarter 2016.<br /><br />In the aluminium segment, production results remain flat in the third quarter. Rusal Siberian smelters represented about 94% of total aluminium output. Capacity utilization in smelters remained on average at 94%. <br /><br />Total aluminium sales in the third quarter increased by 2.4% from the last quarter to 981 thousand tons. The value added products sales increased marginally from last quarter to 446 thousand tons.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Aluminium traded on London Metal Exchange is showing extreme volatility. The contract after rising for six days in a row surged to peaks not seen since July last year during Friday’s trading. LME aluminium was 0.4 per cent higher at $1,705.50 a tonne, having peaked at $1,709.50. It finally closed at $1,701.50 on Friday, October 28. Analysts say the volatility has been picking up as traders square books ahead of an industry event in London scheduled this week. A softer dollar too helped underpin the gains in the commodities. <br /><br />"The whole complex is doing better, which is a sign some speculative money may be coming in," observed Societe Generale analyst Robin Bhar. "Month-end is during LME Week and there will be people away from their desks, so there could be a bit...
<p>Tajikistan has been in discussions with the International Monetary Fund (IMF) for months on a bailout amounting to more than $500 million. According to the latest Reuters reports, Tajikistan has sought $100 million in loans from the European bank for Reconstruction and Development. The government has taken resort to a number of strategies and revised regulations in order to rejuvenate the economy by generating revenues internally. Dushanbe, the capital city of Tajikistan, has agreed to raise the price of electricity by 16 percent starting this November. The company that has benefited the most from state electricity subsidies and routine debt writes-offs is TALCO, the country’s national aluminium operation.</p> <p>In fact, TALCO is Dushanbe’s largest source of revenue at the...
<p>The month of November is almost there and the aluminium event sector is buzzing with the last series of global exhibitions and conferences just before the holidays begin. The month is marked by two major events in the aluminium sector from the East and the West- ARABAL at Dubai and ALUMINIUM 2016 exhibition at Dusseldorf. These two events represent the major names from the global aluminium industry in their delegates and exhibitor list. Other than these two, there are a few more significant events from the downstream and the end user sector. We have picked up ten most significant events from the aluminium value chain for the month of November so that you do not miss out on these and hurry for a last minute registration and avail the opportunity to network and brainstorm with your...
<p>New Zealand's prime electricity generator and retailer Meridian said they want the Tiwai Point aluminium smelter to stay operational. At the company's annual general meeting held on October 28, in Christchurch, chief executive Mark Binns told shareholders that he could see how important the issue was among investors and so, he wants the smelter to stay active, “but not at any cost”.<br /><br />The Tiwai Point aluminium smelter uses 12 per cent of New Zealand’s electricity and its future was tied to the entire sector's performance, Binns added. <br /><br />Meridian has increased the prices it charges for providing electricity to the smelter, effective January 1, 2017. The power generator refreshed contract it negotiated last year with the smelter’s owners, Rio...
<p>Norwegian aluminium producer Norsk Hydro has announced the appointment of its Execuive Vice President Kjetil Ebbesberg the chair of the European Aluminium for 2017-2018. Ebbesberg is head of Hydro’s Rolled Products business area. <br /><br />“Our industry is facing challenges in Europe, particularly in the fields of trade and energy,” said Ebbesberg. “However, challenges also represent opportunities for the European aluminium industry. We have already started to seize these opportunities by launching Initiatives for Change: the Sustainability Roadmap to 2025 and the Innovation Hub. I look forward to working together with our members to achieving the ambitious targets outlined in these initiatives.”</p> <p><img style="vertical-align: middle; display: block;...
<p>As a continuation of the downturn of US primary industry, Century Aluminium Company reported a net loss of $58.3 million ($0.67 per share) in Q3 against $9.5 million ($0.11 per share) in Q2. The adjusted net loss of third quarter was $29.1 million. Results were negatively impacted by factors like the closure of the Ravenswood facility and market inventory adjustment.<br /><br />On a YOY comparison, Century reported a net loss of $56.1 million partially caused by factors like permanent closure of our Ravenswood smelter, market inventory adjustments, labour disruption, curtailment in Hawesville smelter and other cost cutting measures. Results were however partially offset by a $0.8 million purchase accounting gain ($0.01 per share) related to Mt. Holly.<br /><br />Sales for Q3 2016...
<p>A huge stock of aluminium ingots are piling up at the Chinese market waiting for delivery and an artificial shortage in available supply is surging up aluminium price in the spot market. Aluminium futures at Shanghai Future Exchange rose to a two-year high on Wednesday October 26. Aluminium Prices were trading at the highest levels since late 2014 closing up nearly 5% at $2,023 per ton.<br /><br />As pointed out in a Wall Street Journal analysis, stricter Chinese road regulations is the main cause for the delay in delivery as the Chinese government has imposed new weight limitations on trucks to control overloaded trucks and vehicle accidents. They have enforced a maximum weight of 49 tons for trucks cutting it down from 55 tons on September 21. The enforcement led to an increase in...
<p>Aluminium traded on London Metal Exchange rose on Thursday's night trading to close at US$1,681.50/mt. Analysts at the Shanghai Metals Exchange attributed the rise to the inventory decline in China's major consuming regions. The contract traded on Shanghai Metals Exchange opened at US$2,195 on Friday after closing at US$ 2,144 on Thursday. <br /><br />LME aluminium official opening stock currently stands at 2159950 tonnes. <br /><br />Base metals traded on the Shanghai Futures Exchange are expected to be subject to market sentiment today, observed SMM in an early morning forecast. “US dollar is expected to get a boost from positive outlook for US’s Q3 GDP, whether or not base metal prices will be weighed down will depend on market sentiment,” said SMM. <br /><br...
<p>Leading global aluminium producer UC RUSAL has launched the first RA-550 pot of new generation running at over 550 kA at the Sayanogorsk aluminium smelter. The US$28 million project is expected to make the aluminium smelting process at RUSAL significantly energy-efficient. <br /><br />An RA-550 cell consumes around 12 kW*h/kg of aluminium unlike the previous generations which would consume almost 10-15 per cent more metal. As per RUSAL’s design documents, the production capacity of each pot is 4.21 tonnes per day, twice the daily output of an RA-300 pot that is currently being used at SAZ. RUSAL has plans to use RA-550 for the modernization of current facilities as well as for constructing new smelters in the future. <br /><br />RUSAL made sure that the RA-550 is way...
<p>Aluminium industry experts from China and around the world attending an international seminar on the metal said Wednesday that they believe dialogue and innovation can help address overcapacity in the sector.<br /><br />China produces about half of the world's electrolytic aluminium, and its exports of aluminium have raised concern overseas. During the G20 Summit in Hangzhou, capital of East China's Zhejiang Province, in September, China and the US reached a consensus to jointly tackle global aluminium overcapacity. As capacity cuts have taken hold in the nation's coal and steel sectors, electrolytic aluminium and cement may be the next focus, Yicai Global reported in September.<br /><br />In the first nine months of this year, China exported 3.47 million tons of aluminium ingots and...
<p>According to a report from Wall Street Journal, Federal investigators have launched a probe into the allegations that some U.S. companies may be linked to aluminium giant China Zhongwang Holdings Ltd in evading import tariffs on Chinese aluminium by means of illegal ways.<br /> <br />As a part of the investigation, Homeland Security agents questioned former employees of companies associated with Liu Zhongtian, the founder and chairman of China Zhongwang, sources said. The Security agents are probing whether those companies were involved in civil or criminal offences like smuggling or wire fraud and coordinating with the U.S. Department of Justice. <br /><br />In September, The Wall Street Journal reported that the U.S. Commerce Department was investigating if Aluminum Shapes LLC,...
<p>Aluminium traded on London Metal Exchange edged higher from US$1,651 on Tuesday to close at US$1,673 on Wednesday. The metal after falling to a 2-month low at US$1,612.50 on Thursday last week has improved on positive cues and is on an upward trajectory. According to Shanghai Metals Market forecast, LME aluminium will move at US$ 1,670-1,690/mt on Thursday. <br /><br />Shanghai Futures Exchange aluminium prices, on the other side, are set for losses. The metal on Shanghai Metals Exchange dropped to US$ 2,144/mt (RMB 14528.39/mt) on Thursday after closing at US$2,146/mt (RMB 14541.94) on Wednesday. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20Prices(2).jpg" alt="News"...
<p>UC RUSAL, a leading global aluminium producer, announces that on 25 October 2016 two of its subsidiaries, Emergofin B.V. and Velbay Holdings Ltd., filed a request for arbitration against Ukraine pursuant to Article 36 of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States and Article 9 of the Agreement on promotion and reciprocal protection of investments between the Kingdom of the Netherlands and Ukraine.<br /><br />The arbitration relates to Ukraine’s expropriation of the Zaporozhe Aluminium Plant (“ZAlK”). It is being conducted under the auspices of the International Centre for the Settlement of Investment Disputes (“ICSID”), part of the World Bank and headquartered in Washington, D.C.<br /><br />Ukraine...
<p>Norwegian aluminium and renewable energy company Norsk Hydro which surpassed analsysts' expectations with its third-quarter earnings results announced Tuesday has attributed healthy demand growth in China as a leading factor for its improved results. <br /><br />In 2016, Hydro's aluminium demand grew at 4-5 per cent globally. President and CEO Svein Richard Brandtzæg said actually it is more likely to be in the higher end of this range.<br /><br />"Demand growth for aluminium remains healthy. We are sticking to our forecast for global aluminium demand growth of 4-5 percent for 2016 and expect to land in the higher range of this estimate for the full year," said Brandtzæg in a media release. "This comes on the back of higher-than-expected demand in China and slower restarts...
<p>Adrian Bailey MP, who represents the West Bromwich West constituency, was elected at a meeting of the Group on 19 October.<br /><br />The vacancy as Chair arose because David Mowat MP, the previous Chair of the Group, has been appointed the Parliamentary Under Secretary of State for Community Health and Care, which means he is no longer able to serve as an officer of an APPG.<br /><br /><br /><br />Aluminium Federation President Adrian Platt warmly welcomed Mr Bailey’s election: “Adrian has been an active member of the Aluminium APPG for a number of years. He understands manufacturing very well - his constituency lies at the UK’s manufacturing heartland, and contains several ALFED members. I am delighted at Adrian’s election, and am sure he will be an...
<p>India's mines ministry has announced a change in the board of PSU aluminium producer National Aluminium Company Limited (Nalco). The ministry has replaced Nikunja Bihari Dhal from the Nalco Board of Directors with Subhash Chandra, a joint secretary in the mines ministry. <br /><br />Dhal, a 1993-batch Indian Administrative Officer (IAS) from the Odisha cadre, is another joint secretary in the mines ministry, earlier heading the metals division which has now been handed over to Chandra. Dhal is also part-time official director on the boards of another PSU Hindustan Copper Ltd (HCL). <br /><br />Chandra also replaces Dhal as director on the board of HCL, according to government officials aware of the development. <br /><br /><img style="vertical-align: middle; display: block;...
<p>Aluminium traded on London Metal Exchange (LME) will fluctuate between US$ 1,660-1,685/mt on Wednesday and SHFE 1612 aluminium should range within RMB 13,500-13,800/mt, said Shanghai Metals Exchange in an early morning forecast. <br /><br />In China, aluminium in spot market is expected to trade at premiums of RMB 400~440/mt over SHFE 1611 aluminium on Wednesday.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20Prices(1).jpg" alt="News" width="480" height="420" /><br /><br />Prices of base metals on the SHFE are expected to diverge today after yesterday's cross-board rise, SMM predicts. “Speculative funds withdraw from the commodity market in overnight trading, and this will...
