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>Aluminium Bahrain B.S.C (Alba), the Bahrain-based international aluminium producer, received top honours for its relations with the Investors’ Community when it won two major awards -- Leading Corporate for Investor Relations in Bahrain and Best Investor Relations Professional in Bahrain at the 8th ME Investor Relations Society Awards, held at the Address Dubai Mall last month.<br /><br />The Middle East Investor Relations Society’s (ME-IR Society) Awards is a prestigious event in collaboration with Thomson Reuters Extel and recognises the efforts of regional companies and Investor Relations (IR) professionals who play a critical role in developing IR.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Russian aluminium giant UC Rusal is analysing the losses it would incur if it included its subsidiaries into the Ukraine’s sanction list, reported a media release by the company. The aluminium producer is also strategizing measures to mitigate these losses. <br /><br />"Inclusion of Rusal’s subsidiaries and employees into the sanction list is unjustified by nature. Rusal and affiliated companies do not influence on political processes occurring in the territory of Ukraine, do not create threat to national security and do not obstruct economic development of the country," the release stated.<br /><br />Shareholders will have to bear the brunt of including Rusal’s subsidiaries into the sanction’s list; hence, the company is conducting legal due diligence of...
<p>Alberto Fabrini was appointed Executive Vice President and member of Hydro's Corporate Management Board in 2014. He was previously Chief Operating Officer in Bauxite & Alumina and plant manager of the Albras primary plant in Brazil.<br /><br />Fabrini has also held the position as plant manager of Hydro's former part-owned Alpart alumina refinery in Jamaica and plant manager at Hydro's Kurri Kurri primary plant in Australia.<br /><br /><br /><br />Eivind Kallevik has been appointed acting EVP/Head of Bauxite & Alumina business area. The process to find a permanent successor has started and will be communicated in due time. Kallevik will at the same time remain in his position as CFO.</p>
<p>Vimetco N.V., the global, vertically integrated producer of primary and processed aluminium products announced recently that it is in talks with a ‘potential buyer’ regarding a possible sale of its stake in all the entities that hold its key aluminium producing facilities in China. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Vimetco.jpg" alt="News" width="462" height="344" /><br /><br />The discussion is currently at an early stage and there is no certainty that it would result in a transaction, updated an official release by the Vimetco Board of Directors. In case the discussion progresses, the BoD will announce. <br /><br /><br /><br />Apart from China, Vimetco has...
<p>India's leading aluminium producer National Aluminium Company Limited (Nalco) has reported impressive results for H1 2016-17. Total aluminium production increased 4.2 per cent from the corresponding period previous year to total at 1.88 lakh tonnes. <br /><br />Further upstream, bauxite mining was recorded at 35.08 lakh tonnes, a 23.6 per cent increase over the same period of the last year, and alumina hydrate production was up 5.1 per cent year-over-year to stand at 9.68 lakh tonnes. <br /><br />Revenue-wise too, the Navaratna PSU put up a decent performance. Nalco sold 1.81 lakh tonnes of aluminium, up 5.8 per cent compared to the corresponding period of previous fiscal, and 5.81 lakh tonnes of alumina hydrate up 8.5 per cent from the same period previous fiscal. <br /><br /><img...
<p>The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported that primary aluminum production in North America (U.S. and Canada) was at an annual rate of 3,968,038 tonnes during September 2016 which recorded a rise of 17,363 tpy (+0.4%) from 3,950,675 tonnes in August 2016.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary%20productionNA.jpg" alt="News" width="373" height="256" /><br /><br /><br /><br /><br />The production rate in the U.S. was down 3.7 per cent m/m, while the Canadian production rate was up slightly (+0.3%). The YoY comparison of the North American production shows a drop of 11 per cent from the September 2015 rate of 4,457,027 tonnes....
<p>Aluminium prices slipped to two-week lows on Monday weighed on by worries about Chinese producers restarting operations and adding to the metal glut being created by remelting of semi-finished products.<br /><br />Benchmark aluminium on the London Metal Exchange was down 1.4 per cent at $1,652 a tonne from an earlier $1,647, its lowest since Sept 28.<br /><br />"Production of primary aluminium is coming back in China. There is a surplus of aluminium semis, which are being remelted," said Carsten Menke, analyst at Julius Baer. “As inventories build, there will be pressure on prices, aluminium at these levels still looks quite expensive."<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>According to the St. Lawrence Seaway Development Corp., average shipping this season on the Great Lakes-St. Lawrence Seaway system dropped from the last season, although recent shipments of aluminium, grain and iron ore boosted the sea traffic in September.<br /><br />YTD cargo shipments for the period of March 21 to Sept. 30 were 21 million metric tons, which recorded a 5.3 per cent drop from the same period in 2015. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/oswago1port.JPG" alt="News" width="480" height="420" /><br /><br />She pointed out that there were notable shipments of aluminium and project cargo consisting of various equipment used in aluminium plants including crane...
<p>Aluminium Bahrain B.S.C. (Alba), home-base of the Line 6 Expansion Project, is pleased to announce the successful closing for its landmark syndicated term-loan facility, the first tranche of the Company’s funding plan for the Line 6 Project. <br /><br />Alba’s original target for the syndicated loan was to raise between US$500 to US$750 million. However, due to heavy over subscription, Alba decided to upsize the loan to US$1.5 billion making it the largest corporate loan in the history of Bahrain. The US$1.5 billion carries an interest margin of 325 basis point per annum over the London Interbank Offered Rate (LIBOR). This facility has a 7-year tenor and the principal amount will be repaid in eight semi-annual instalments and includes a 3-year grace period on...
<p>Aluminium on London Metal Exchange will drop to USD 1,660-1,680/mt weighed on by strong US dollar and crude oil volatility. SHFE 1611 aluminium will struggle around the 5-day moving average and move at RMB 12,650-12,850/mt, predicted SMM. <br /><br />Discounts in the range of RMB 160-120/mt are expected in east China spot market over SHFE 1610 aluminium contract. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/LME%20aluminium.jpg" alt="News" width="500" height="266" /><br /><br />Key macroeconomic indicators <br /><br />1. Four big central banks- the European Central Bank, the Bank of Canada, the Bank of Indonesia and the Central Bank of Brazil are going to announce their interest rates...
<p>After the weeklong Chinese National Day holiday, The Chinese market started moving. After the smelters resumed operations, Aluminium stocks in China’s five major markets started growing. However, SMM observed that the growth was much lower compared to the past years of aluminium stock movements in China.</p> <p>On October 14, Chinese aluminium stock fell 8,000 tonnes compared to the aluminium stocks on October 7.</p> <p>As SMM reports, hoards of aluminium ingots are being stacked up at railway stations in northwest China, especially Xinjiang provinces. SMM predicts that it is due to tightening railway capacity that concentrated arrivals from northwest China will not be possible until the end of October. </p> <p>The table below shows details of aluminium stocks at...
<p>The month of October is so far growing positive for the global aluminium industry. The LME 3 Months aluminium is settled at USD1686 and the Cash contract is settled at USD1680 on October 13. Alcoa reported its Q3 results recording strong growth in its combined Arconic Segments and profitable growth in Alcoa Corporation Segments despite market headwinds. The holiday season is approaching and the industry is busy wrapping up the event season in the coming two months. AlCircle picks six aluminium events that aluminium industry players would like to attend from 16<sup>th </sup> to 31<sup>th</sup> October</p> <p><strong>1. GAC Casthouse Seminar</strong><strong> </strong></p> <p><strong>Date: <strong>18<sup>th</sup></strong> <strong>–...
<p>SHFE 1611 aluminium will likely rise to RMB 12,750-12,950/mt today, driven by south-bound aluminium stocks and downstream stocking before the weekend, stated an early morning forecast by Shanghai Metals Market. Aluminium traded on London Metal Exchange will meet resistance and move at USD 1,680-1,700/mt today. <br /><br />According to an SMM survey, in east China spot market, spot discounts of RMB 150-110/mt are expected over SHFE 1610 aluminium contract. <br /><br /><strong>Data as on 13/Oct/2016</strong><br /><br /><img src="http://www.alcircle.com/uploads/images/SHFE%20Prices.jpg" alt="SMM Prices" width="450" height="210" /><br /><br /><strong><em>SMM Aluminium prices in rmb/metric ton</em></strong><br /><br />On Wednesday’s night trading, SHFE 1611 aluminium opened at RMB...
<p>London’s Vedanta Resources plc released production numbers for the second quarter and first half of 2016 yesterday, reporting a record aluminium output of 296,000 metric tons for the second quarter.<br /><br />On the corporate side, highlights for the quarter included shareholder approval of the Vedanta/Cairn India merger, a deal that is expected to close in the first quarter of calendar year 2017. Also notable for the quarter is upgrades by Moody’s from B2 to B1, and from S&P from a stable outlook to a positive one.<br /><br />Vedanta’s smelters continued to ramp up in the quarter, peaking at a production rate of 1.1 million metric tons per annum, aside from production during trial runs. According to the firm, the ramp up was slowed slightly due to pot outages at...
<p>The NYSE-listed stock of US lightweight alloys specialist Alcoa on Tuesday closed down 11.42 per cent at $27.91 apiece after the company reported third-quarter results falling short of analyst expectations.<br /><br />Despite reporting a higher net profit of $166-million, or $0.33 a share, which was a marked increase on the year-earlier performance of $44-million, or $0.06 a share, New York-based Alcoa missed analyst expectations by a penny after it reported adjusted earnings of $0.32 a share for the period.<br /><br />“Alcoa steered steady and showed resilience in spite of near-term market challenges. Profits grew in the combined Arconic segments, and Alcoa Corporation segments managed successfully to stay profitable in a low pricing environment,” stated chairperson and...
<p>Aluminium prices edged higher by 0.40 per cent to INR112.30 per kg in futures in the evening trading today as speculators enlarged positions, driven by rising demand from consuming industries in the spot market. <br /><br />The exchange remained closed for the morning session on account of a religious festival.<br /><br />At the Multi Commodity Exchange, aluminium for delivery in October month edged up by 45 paise, or 0.40 per cent to INR112.30 per kg in business turnover of 139 lots. <br /><br /><br /><br />Similarly, the metal for delivery in November contracts traded higher by 35 paise, or 0.31 per cent to INR112.85 per kg in 13 lots. <br /><br />Analysts said increasing of positions by participants, driven by rising demand from consuming industries in the spot market, mainly led to...
<p>South Korea is seeking 1,000 tonnes of aluminium for December delivery, the state-run Public Procurement Service said on its website (www.g2b.go.kr), reports Reuter. <br /><br />Details of the purchase and the tender are as follows:<br /><br />Aluminium tender on October 25:</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/table1.jpg" alt="News" width="424" height="94" /><br /><br />Note: Two countries of origin are not acceptable. Metal products from China, India, Russia and Egypt are excluded. Metal should be London Metal Exchange (LME)-registered brands. </p>
<p>Aluminium prices hit two-month highs before retreating on profit-taking as the spotlight returned to oversupply and expectations of rising output in China. Benchmark aluminium ended down 0.7 per cent at $US1679 a tonne. The metal used in transport and packaging had earlier touched $US1693, it highest since August 18.<br /><br />Traders said that aluminium had in large part been boosted by funds that use trend-based models but that producer selling as prices approached $US1700 and offers at $US1695 had triggered the reversal. <br /><br />Top producer China accounts for more than half of global output estimated this year at about 59 million tonnes. Its producers have been ramping up capacity this year, increasing expectations of a jump in output in the fourth quarter.<br /><br /><br...
