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>The Aluminum Association announced an expanded leadership team and additions to its Board of Directors during “Vote Aluminium” – its annual member meeting in Washington, D.C.</p> <p>“This is a pivotal time for the domestic aluminium industry – with tremendous demand side opportunities but also significant challenges on the global trade front,” said Garney Scott, President & CEO of Scepter and Aluminum Association Chairman. “These new additions to the Association’s leadership will be tremendously helpful as we work together toward a sustainable future for the industry.”</p> <p></p> <p>Marco Palmieri, President of Novelis North America was unanimously elected as the Association’s new Second Vice Chairman. Mr. Palmieri will...
<p>India may consider imposing a floor price or raise tax on imports of aluminium to protect the domestic industry from the onslaughts of cheap supplies from overseas markets, Mines Secretary Balwinder Kumar said on Tuesday. He said a decision on import duty hike or minimum import price (MIP) on aluminium will be taken within a fortnight. <br /><br />On being asked about the initiatives that are being taken by the government to curb aluminium imports, Kumar said, "We are examining this matter in great depth. Two-three rounds of discussions have taken place with different segments of aluminium industry. So, either we may go for MIP or alternatively to increase the import duty but the main thing is that we want to develop a consensus among different segments of aluminium industry. So, we...
<p>A new study conducted by the Dubai Chamber of Commerce and Industry revealed Brazil is Dubai’s top trade partner in Latin America. Non-oil trade between Dubai and Latin America valued AED17 billion in 2015. Chile ranked as Dubai’s second largest export market in Latin America. <br /><br />The value of Dubai’s exports of crude aluminium to Brazil, for instance, amounted to AED44m and had an RCA exceeding 1,000 per cent. Crude aluminium exports to Mexico, meanwhile, totalled AED53m in value and scored an RCA of nearly 10,000 per cent.<br /><br />Non-oil trade between the two parties makes up 67 per cent of the emirate’s total export and imports from the Latin American region. <br /><br />“Despite the instability unfolding in the global economy –...
<p>According to a latest media update, U.S. Senator Charles Schumer pressed the International Trade Commission to take action against the alleged wrong trade practises by foreign metal producers especially China. He is concerned about the "predatory" trade practices damaging the business interest of domestic producers.<br /><br />In a testimony submitted to the Trade Commission on behalf of aluminium producers from New York, Schumer, D-NY, said Chinese producers are actually shipping aluminium through third-party countries to US. This is practised to distort facts so that exports can be passed through as from a different country of origin or to misclassify aluminium exports in order to circumvent U.S. export duties.<br /><br /><img style="vertical-align: middle; display: block;...
<p>Aluminium Bahrain B.S.C (Alba), the Bahrain-based international aluminium producer, was a key participant and sponsor of the 31st International Aluminium Conference, which was held from September 27 to 29, 2016 in Madrid, Spain.</p> <p>The 31st International Aluminium Conference is well-known as an international platform for major players in the aluminium industry to review the current challenges as well as potential growth opportunities.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Alba%20participates%20in%20the%2031st%20International%20Aluminium%20Conference.jpg" alt="News" width="448" height="252" /></p> <p>A silver sponsor of the conference, Alba’s delegation was headed by...
<p>Public sector aluminium firm National Aluminium Company (Nalco) has lined up a capital expenditure (Capex) of INR1,021 crore for 2016-17. <br /><br />The Capex would be used for projects like development of Utkal D&E coal blocks, wind power projects of 50 Mw each in Maharashtra and Rajasthan, addition of fifth stream in the existing alumina refinery at Damanjodi, Koraput, a 20 Mw solar power project in Madhya Pradesh and other expansion and modernization activities, said Nalco's chairman and managing director (CMD) T K Chand during his address to shareholders at the company's annual general meeting.<br /><br />Nalco, meanwhile, has completed buyback of shares that was approved by the shareholders in July this year. Post buyback, the paid-up share capital of the company stands...
<p>Innovation-driven aluminium giant Emirates Global Aluminium (“EGA”) bagged seven awards at the Ideas.America- the leading professional association that assists organisations internationally in idea management. EGA has participated in this annual conference and associated competition since 2002. This year’s awards brings the total number of Ideas.America awards won by EGA in various categories over the years to 43. <br /><br />“Our achievements regularly receive independent recognition through regional and international accolades, confirming the world-class calibre of our people,” says Abdulla Kalban (MD & CEO of EGA), adding that the company has again emerged on the top of the leader board at the 2016 Ideas.America Idea of the Year Competition.<br...
<p>In a positive note, aluminium stocks at the five major markets in China namely Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi fell drastically this past one week, an SMM report says. <br /><br />The table below shows the drop in stocks in the mentioned markets.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/china%20stock.jpg" alt="News" width="480" height="420" />Based on this trend, SMM forecast that LME aluminium will gain more in the coming week of October. SHFE aluminium is also expected to gain after the Chinese National Day holidays from 1st to 7th October. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>The month of October is another eventful month for the global aluminium industry, the end user segment and the other allied industries. The holiday season is approaching and the industry is busy wrapping up the event season in the coming two months. AlCircle picks twenty most relevant events that aluminium industry players would like to attend from 1st to 15th October.<br /> <br /><strong>1. ICSOBA 2016</strong><br /><strong>Date: 3rd– 6th October, 2016 </strong><br /><strong>Location: Hotel Palace Royal of Quebec, Canada</strong><br /> <br />The ICSOBA or The International Committee for Study of Bauxite, Alumina & Aluminium (ICSOBA) Conference needs no introduction for the aluminium industry players. Since 1963 ICSOBA organized 34 symposia, congresses and...
<p>Noranda Aluminum Holding Corporation today announced Court approval for the sale of the Company's aluminum smelter and facilities in New Madrid, Missouri, to ARG International AG for a purchase price of $13.7 million. The Court approval follows an auction that took place on September 28, 2016. The Company expects to close the transaction in October 2016, subject to certain closing conditions.<br /><br />Noranda's alumina refinery in Gramercy, Louisiana, and bauxite mining operation in St. Ann, Jamaica, were not included in the auction for the New Madrid aluminum smelter and facilities. With respect to its bauxite and alumina operations, Noranda continues to explore strategic alternatives, including discussions with potential acquirers. Agreements, if any, from these discussions would...
<p>Alcoa’s board has approved the New York Stock Exchange-listed aluminium giant’s demerger into two public entities, scheduled to come into effect on November 1.<br /><br />Spin-off Arconic will provide high-performance materials and engineered products to the aerospace and automotive industries, while Alcoa will focus on bauxite, alumina and aluminium products, the company said. <br /><br />Alcoa’s current chairman and chief executive Klaus Kleinfeld will become the chairman and chief executive of Arconic. Alcoa’s new chairman will be current director Michael Morris, while group president of global primary products Roy Harvey will become Alcoa’s chief executive.</p> <p><img style="display: block; margin-left: auto; margin-right: auto;"...
<p>Government has directed state-run aluminium maker Nalco to reconsider its over USD 2 billion project for setting up a gas-fired thermal power plant and a smelter in Iran. Nalco has been in the process of setting up a 5 lakh tonnes aluminium smelter in Iran, where is can get natural gas at cheap rates. Power accounts for 40 per cent of the input costs in making aluminium. </p> <p></p> <p>"Our priority is to reduce imports under the Make in India initiative, hence we have asked them (Nalco) to revisit their decision to process alumina in Iran," Mines Secretary Balvinder Kumar told PTI. <br /><br />The focus is to increase India's capabilities and make the 'Make in India' initiative a huge success, he added. <br /><br />During Prime Minister Narendra Modi's visit to Iran in May, Nalco had...
<p>After three eventful days of delegation networking, brainstorming and paper presentation, of 5th International Bauxite, Alumina & Aluminium Society (IBAAS) symposium with a highlight on the evolving Asia-Pacific aluminium industry and the issue of sustainability for the aluminium industry came to an end on Wednesday September 28. <br /><br /> The One Day Theme Symposium on Energy Reduction in Aluminium Smelting, jointly organized with The Indian Institute of Metals (IIM) was an apt platform that opened up a number of significant issues regarding energy saving in aluminium industry. A number of important ongoing studies on energy savings in the alumina refining and aluminium smelting were presented during the symposium.<br /><br /><img style="vertical-align: middle; display:...
<p>Firm trend in international market boosted demand in India spot market, buoyed by which aluminium prices surged 0.69 per cent to INR 109.45 per kg in futures trade today as traders in the aluminium industry created fresh positions. <br /><br />In futures trading at Mumbai's Multi Commodity Exchange (MCX), aluminium for delivery in September traded higher by 75 paise, or 0.69 per cent to INR 109.45 per kg against business turnover of 2,500 lots.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium%20wires.jpg" alt="News" width="480" height="420" /><br /><br />The uptick was evident in futures trading for aluminium for delivery in October contracts as well, as it inched higher by 65...
<p>Two bidders have submitted their bids for the upstream business of Noranda Aluminium, the bankrupt aluminium producer from the US, in an auction held on Wednesday last week. Assets including one of Noranda's idled smelters in Missouri, a bauxite mining site in Jamaica, and an operational alumina refinery in Louisiana were put up for auctioning, stated a court filing. <br /><br />The bidders were ARG International AG, a Swiss company formed by a former Glencore aluminium trader, and MFR II LLC, a company specializing in industrial and commercial asset disposition and liquidation. The latter also and served as the stalking horse bidder for the bankrupt aluminium producer's assets.<br /><br />ARG's bid amount was $13.7 million whereas MFR's was $13 million. <br /><br /><img...
<p>LME aluminium will rise to USD 1,655-1,675/mt as the OPEC reached an agreement over oil output cuts.<br /><br />SHFE 1611 aluminium will fluctuate at RMB 12,450-12,600/mt. <br /><br />In east China’s spot aluminium market, spot premiums of RMB 440-480/mt are expected 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%20Prices(1).jpg" alt="News" width="484" height="384" /><strong>Key macroeconomic indicators for base metal prices</strong><br /><br />Eurozone September CCI, US Q2 GDP and PCE goods price index and August pending home sales will be released today. Base metals surged overnight as OPEC reached an agreement to freeze output....
<p>Garney Scott, President & CEO of Scepter, Inc. and Chairman of the Aluminum Association, as well as Heidi Brock, President and CEO of the Aluminum Association, will testify at the U.S. International Trade Commission (USITC) public hearing on the Investigation on the Competitive Conditions Affecting the U.S. Aluminum Industry, scheduled for September 29 at 9:30 a.m. ET. Mr. Scott and Ms. Brock will call attention to the challenges posed to domestic aluminum producers by overcapacity in China and will encourage the USITC to engage on the issue through its investigation. To view the full prepared testimony click here.<br /><br />“We are gratified that the Commission has begun the process of investigating the complex issues driving overcapacity and overproduction in the aluminum...
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, has been performing reasonably well in light of the market conditions, according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa.<br /><br />The statement was made following the third quarterly meeting for this year, which was held on Wednesday, September 28, 2016 at Alba.<br /> <br />Adding further, Shaikh Daij said: <br />“We are pleased with the tremendous success of the recent US$1.5 billion financing which was the largest corporate loan in the history of the Bahrain.<br />Alba is focused on its future growth strategies and we remain committed to deliver Line 6 on schedule and below the budget.”<br /><br /><img...
