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>Earlier this month; the ASI Board approved the ASI Governance Handbook as a new by-law. The Governance Handbook provides an overview of the design and implementation of the ASI governance model. It is aimed at orienting and guiding the various participants in ASI’s governance structure, including Board directors, Committee members and ASI staff. It also enhances transparency of ASI governance to broader stakeholders.<br /><br />The Handbook is essentially a user-friendly complement to the ASI Constitution, adopted in April 2016. The Handbook expands on the Constitutional framework and covers a wide range of aspects of ASI governance.<br /><br /><br /><br />A core coal in ASI's establishment has been to put in place an effective governance framework that can drive organisational...
<p>The London Metal Exchange cash and three-month aluminium contracts are showing sign of improvement in the month of September. LME 3M contracts closed at $1,664 per metric ton on September 27 while LME cash contracts closed at $1,648 per metric ton. The graph shows significant gains in the month of September.<br /><br />Three months aluminium has gained 10.2% so far since the beginning of 2016. In the month of September itself it recorded a 2.9% increase. Aluminium prices have shown resilience this year. However, aluminium prices are moving within a range of $1,600 to $1,700 per metric ton.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/lme%203M.jpg" alt="News" width="480" height="420"...
<p>The 5th International Bauxite, Alumina & Aluminium Society (IBAAS) Symposium- 2016 is on full swing. On the 2nd day of the international event, AlCircle.com, the privileged media partner, took the dais to share with the dignitaries present at the venue its current positioning and future business plans.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/AlCircle_vision.png" alt="" width="620" height="367" /></p> <p><br />Vikas Devnani, Vice President, AlCircle, made a special presentation on the company’s vision and its latest offering <a href="http://www.alcircle.com/primary_aluminium/newscircle/general/detail/25865/alcircle-launches-altoolz-the-business-decision-enabler" target="_blank"><strong>AlToolz- the Business Decision...
<p>The second eventful day of 5th International Bauxite, Alumina & Aluminium Society (IBAAS) symposium starts with a highlight on the issue of sustainability for the aluminium industry. <br /> <br />The session has been inaugurated by Kiran Anant’s paper “Sustainability issues and opportunities for Aluminium in Asia Pacific”. It is followed by paper topics like Environmental Aspects in Aluminium Industries, Third party certified aluminium and Opportunities and Challenges for Aluminium Industry. <br />IBAAS convenor Dr. Ashok Nandi presented a paper on the topic “Why Guinea Bauxite is Considered Best in the World?”<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>Base metal prices on the SHFE are expected to be volatile on Tuesday, Shanghai Metals Market foresees. LME aluminium will fluctuate between USD 1,650-1,670/mt today. SHFE 1611 aluminium will move between RMB 12,400-12,600/mt as trading inventories grew, with spot premiums between RMB 430-470/mt. <br /><br />“Base metal prices overnight rose after falling at first due to a weak dollar and rising oil price, and on Tuesday, uncertainties coming from China’s data results and US’s first presidential debate will add to price volatility,” SMM says. <br /><br /><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Aluminium-Ingot.jpg" alt="News" width="480" height="420" /><br /><br /><strong>Key macroeconomic indicators for base metal...
<p>India's annual aluminium consumption is on a growth trajectory. The total estimated consumption of the lightmetal used in cars to construction has increased considerably over the last two financial years. While sale of the metal has been steady through 2015-16, total aluminium imports scaled higher over 20 per cent vis-à-vis last financial year. <br /><br />Ironically however, this come to the forefront at a time when the Indian government has ruled out the proposition of imposing minimum import price (MIP) on aluminium.<br /><br />The major countries from where India has sourced unwrought aluminium in the last two fiscals to cater to its increasing domestic demand include Russia, Malaysia, Thailand, Oman, Qatar, the UAE and South Africa. <br /><br /><strong>GROWING...
<p>The 5th International Bauxite, Alumina & Aluminium Society (IBAAS) Symposium- 2016 opened its doors to the domestic and international delegates at Radison Blu Hotel & Resort in South Goa, India today and the conference will host delegates from international and domestic aluminium industry at the venue from 26-28 September 2016. <br /><br />The title of this year’s IBAAS-2016 symposium is “Aluminium Industry-The Evolving Asia-Pacific Story”. Leading experts from the domestic and international aluminium industry would be presenting their views on the steadily growing aluminium industry in Asia pacific and India.<br /><br />The event coincides with a one-day theme symposium on “Energy Reduction in Aluminium Smelting”, jointly organized with The Indian...
<p>Aluminium prices in China’s spot market turned from discounts into an all-time high premium of 570 yuan/tonne over SHFE front-month aluminium recently and SHFE 1611 aluminium ended last week up over 5 per cent. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/SMM%201.png" alt="News" width="480" height="420" /><br /><br />What caused the sudden change?<br /><br />It all boils down to tightening transport, SMM understands. Most smelters ship aluminium ingots by train rather than by truck out of cost considerations. Hence, railway transport capacity has always been tight in Xinjiang, one of China’s most important aluminium producing regions. <br /><br />China’s recent...
<p>Metal and Mining giant Rio Tinto opened the doors of its newly modernised aluminium smelter in Kitimat, British Columbia, Canada. The entire Kitimat community was welcomed by the company for a day-long celebration which included family activities, interactive exhibits, and bus tours of the state-of-the-art facilities. <br /><br />In an official invite to the Kitimat people Gareth Manderson, general manager of Rio Tinto BC Works said, "This smelter represents the next chapter built on our 60 year legacy as a leading aluminium producer here in Kitimat. The modernisation project was the largest private infrastructure investment in BC's history. It has doubled the production of the smelter while reducing overall emissions by nearly 50 percent. Our leading-edge facility is now one of the...
<p>Like every year, International Bauxite, Alumina & Aluminium Society (IBAAS) is inaugurating its 5th International symposium (IBAAS-2016) in Goa, India on September 26. The three day conference will host delegates from international and domestic aluminium industry at the venue from 26-28 September 2016. At this crucial juncture for the domestic and international aluminium industry when the growing demand for aluminium is opening up new avenues for aluminium makers and Asia is growing stronger in the upstream sector, the conference is expected to open up innovative ideas, technical solutions and highlight the changes in market dynamics.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>A weaker US dollar from the US Fed’s decision not to raise interest rate will continue benefit LME aluminum, which will rise to USD 1,625-1,650/mt.<br /><br /><br /><br />SHFE 1611 aluminum will search for direction and move between RMB 12,350-12,500/mt.<br /><br />In east China’s spot aluminum market, spot premiums of RMB 580-620/mt are expected over SHFE 1610 aluminum contract.</p>
<p>Creditors allege in a court filings that the companies behind a planned aluminium plant in Pineville owe more than $2 million in unpaid loans and contracts.<br /><br />Revolution Aluminum LLC, which announced plans last year to build a $1.5 billion production complex that could employ more than 1,000 people, is being sued by Acadiana Railway for nearly $800,000 for unpaid work and uncollected fees.<br /><br />Also, a petition has been filed to force Revolution Aluminum Propco LLC, which purchased the property for the proposed complex, into bankruptcy to collect loans that have not been repaid. Revolution Aluminum Propco LLC is incorporated with Revolution Aluminum LLC as its manager.<br /><br />In the bankruptcy filing, three petitioners allege that Revolution Aluminum Propco LLC,...
<p>In east China’s spot aluminum market, spot premiums of RMB 330-370/mt are expected over SHFE 1610 aluminum contract.<br /><br /><br /><br />The US dollar index fell back as the US Fed decided not to raise interest rate. Tight supply in domestic market pushed SHFE aluminum up. As such, LME aluminum will rise to USD 1,580-1,600/mt. <br /><br />SHFE 1611 aluminum should advance to RMB 12,100-12,300/mt.</p>
<p>According to an SMM report, China saw steep growth in exports of unwrought aluminium and aluminium semis in August.<br /><br />After the recently concluded bilateral dialogue between the U.S. and China during the G-20 Summit in September, both U.S. and China decided to work collectively to address the aluminium excess capacity issue. While Chinese leaders promised to check aluminium export that is flooding global markets and compelling smelters in U.S. and Europe closing capacity, aluminium producers in China seem to have another plan. The capacity started falling in the month of July and August but it has started rising again after Chinese smelters restarted close capacities.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported primary aluminum production in North America (U.S. and Canada) was at an annual rate of 3,950,675 tonnes during August 2016, down 17,013 tpy (-0.4%) from the July 2016 rate of 3,967,688 tonnes.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary%20production.jpg" alt="News" /><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 11.3 per cent from the August 2015 rate of 4,451,552 tonnes. Actual production during January to August was 2,700,367 metric...
<p>Malaysian aluminium major Press Metal Bhd is getting into a joint venture (JV) with a Chinese aluminium raw material supplier to build a project in China to manufacture pre-baked carbon anodes, company confirmed this in a statement to Bursa Malaysia.<br /><br />The aluminium extruder said that the project in collaboration with Sunstone Development Co Ltd (SDCL) of China will have an estimated capital expenditure of 450 million yuan (RM280mil). <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/press%20metal.JPG" alt="News" width="480" height="420" /><br />According to the agreement, Press Metal will take up a 20% stake in the JV company to be called Shandong Sunstone & PMB Carbon Ltd,...
<p>A demolition notice has been lodged with the island’s council planners by the Orthios Group to make way for the billion-pound project.<br /><br />The application will see the flattening of several one-storey buildings which used to house the potlines, metal products and green carbon processes.<br /><br />Others set to be removed include the carbon rodding, carbon bake and baghouse facilities, all of which have been empty since mothballing in 2009.<br /><br />However, the Anglesey Aluminium chimney - a prominent feature of the island’s skyline since the early 1970s - will remain in place for now.<br /><br /><br /><br />A decision on the fate of the iconic chimney, which towers over the town and much of western Anglesey, has yet to be made.<br /><br />The drawings for the...
<p>Union Minister of State with Independent Charge for Power, Coal, New & Renewable Energy and Mines Piyush Goyal met the representatives from aluminium industry today.<br /><br />In a tweet, Goyal said, “Met Federation of All India Aluminium Utensils Manufacturers & Aluminium Secondary Manufacturers Association.”<br /><br />Recently, the Minister had told a media agency in an interview that he is in favour of imposing a Minimum Import Price on the metal to counter dumping of cheap aluminium products.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Piyush-Goyal-20-9-16.png" alt="News" width="500" height="344" /><br />"My personal view is that an MIP on aluminium products...
