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 smelter’s reputation as an occupational safety and health performer was given an impetus as the Company won the Gold Award for the Occupational Health and Safety in the RoSPA Occupational Health and Safety Awards 2016.<br /><br />Alba’s Chief Executive Officer Tim Murray and Manager for Safety Health and Environment Mohamed Khalil received the award during a ceremony which was held recently at the ExCeL London Centre, UK.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Alba%20wins%20RoSPA%20Gold%20Award%202016%20for%20Safety%20&%20Health.jpg" alt="News" width="5057" height="3237" /><br /><br...
<p>Indian Aluminium prices dropped 0.37 per cent to INR 107.30 per kg in futures trade today at Multi Commodity Exchange. Due to subdued demand in the spot market, traders reduced exposure.<br />At the Multi Commodity Exchange, aluminium for delivery in September month traded at INR 107.30 per kg in business turnover of 1,946 lots, which recorded a drop of 0.37 per cent.<br /><br />The metal for delivery in October contracts also dropped 0.32 per cent to INR 108.30 per kg in 95 lots. <br /><br />Market participants are of the view that traders are offloading positions due to lukewarm demand in the spot market. This in turn is leading to the drop in aluminium prices at futures trade.</p>
<p>Aluminium contracts traded on London Metal Exchange (LME) will continue its decline this week, whereas SHFE aluminium will likely swing widely, predicted analysts at Shanghai Metals Market (SMM).<br /><br />According to SMM, LME aluminium should be down somewhere in the range of US$1,580-1,650 per tonne. On what would likely support SHFE aluminium, they said, expectations for an uptick in September demand will buoy the metal prices despite surge in aluminium production in China. Traditionally September has been the peak-demand month for aluminium in Chinese major markets. SHFE 1610 aluminium should swing widely between 12,000-12,400 yuan per tonne, SMM expected.<br /><br />Rising shipment volumes from smelters is also expected to drive growth of aluminium stocks across China markets,...
<p>Rio Tinto has completed the sale of its 74 per cent of Zululand Anthracite Colliery (ZAC) to Menar Holding, for an undisclosed sum.<br /><br />ZAC, an underground mine in Zululand, South Africa, produces premium quality anthracite for international and domestic customers and has more than 1,300 employees and contractors. The remaining 26 per cent of ZAC will continue to be held by its Broad-Based Black Economic Empowerment partner, Maweni Mining Consortium Pty Ltd.<br /><br />Menar has a proven track record of operating and investing in South Africa through its controlling interest in Canyon Coal, which owns three coal mines in Mpumalanga and other coal projects in Mpumalanga and Gauteng.<br /><br />Rio Tinto has a long-standing relationship with South Africa and continues to invest in...
<p>A wide spread between import and domestic aluminum prices continued to keep Chinese buying interest at bay in August, despite premiums falling over the month, market participants said.<br /><br />S&P Global Platts assessed the aluminum spot premium delivered to Japan at $66-$74/mt plus LME cash Wednesday, down from $76-$77/mt a month ago.<br /><br />Rio Tinto Japan this week offered Japanese buyers a fourth quarter contract premium of $82/mt plus London Metal Exchange cash CIF Japan, down 10% from the Q3 premium of $90-$93/mt, Japanese buyers said Tuesday.<br /><br />Chinese aluminum stocks have increased on the back of slowed demand, as numerous downstream producers had shut down or cut back recently due to government environmental protection inspections. The Q3 summer season was...
<p>According to an SMM report, Aluminium prices in China are relatively stable despite the growing aluminium supply. SMM also tries to find out the positive factors that are giving support to the aluminium prices which ideally should have gone down with the inflating supply.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/SME%20prices.png" alt="News" width="857" height="418" /> <em> SME price trend in August</em><br /><br />Aluminium consumption in July and August 2016, which is traditionally off-season for the China market, is better than the same period of 2015. Though the consumption is down from previous months a YOY increase has offered support to the aluminium prices. <br...
<p>According to the latest update from SMM, a recent report about a possible talk between the government of Dalad Banner in Inner Mongolia and Henan Maintain Al. Industrial Corp. about constructing a 10 million-tpy aluminium project is an exaggeration.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminiumcapacity06062016.jpg" alt="News" width="300" height="300" /><br /><br />SMM confirms that Henan Maintain Al. Industrial Corp. is just looking for consultancy support from the government. This is to ensure raw material supply for its 1 million-tpy aluminium processing project. Preliminary estimate shows the company has a plan to purchase 1 million tonnes of alumina annually for its...
<p>UC RUSAL, a leading global aluminium producer, announces senior staff appointments within the Company’s Aluminium Division.<br /><br />Oleg Buts has been appointed as Managing Director of Irkutsk Aluminium Smelter (IrkAZ). Prior to the appointment, Mr Buts worked as the Director of Department for Production System Training at Production development Directorate of UC RUSAL. He will replace Evgeny Kuriyanov, who has been appointed as Managing Director of Krasnoyarsk Aluminium Smelter (KrAZ).<br /><br />Both managers started their careers at blue-collar positions at RUSAL plants where they passed through all the professional growth stages inside the company, gaining a great understanding of the production and plants specifics. Being part of ‘RUSAL Personnel Reserve’...
<p>China Aluminum International Trading Co. (Chalco Trading) cut aluminium prices it offered in major markets today after three consecutive days of hike, it said on its WeChat. <br /><br />For details, please see the table below: <br /><br />Unit: yuan/tonne <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Chalco%20prices.png" alt="News" width="454" height="162" /><br /><br />Chalco Trading is a full subsidiary under Chalco responsible for alumina and aluminium sales. <br /><br /><strong>SHFE 1610 aluminium falls on short selling</strong><br /><br />On Tuesday’s night trading, SHFE 1610 aluminium fell to RMB 12,275/mt after opening at RMB 12,310/mt. But prices then...
<p>LME aluminium will move in a wide range of USD 1,605-1,625/mt on Thursday.<br /><br />SHFE 1610 aluminium will move at RMB 12,150-12,300/mt,.<br /><br />In east China’s spot aluminium market, spot premiums of RMB 130-170/mt are expected over SHFE 1609 aluminium contract.<br /><br /><strong>Key Macroeconomic Indicators for Base Metal Prices</strong><br /><br />Diverging trend will strengthen on base metal market on Thursday with eyes on manufacturing PMI for August from China and the US and US July construction spending.<br /><br />Overnight, US August ADP employment data was upbeat, raising bets for a rate hike by US Fed while market kept cautious attitudes towards the possibility of a rate hike in September.<br /><br />The mixed reading of China’s official and Caixin...
<p>The closure of Tiwai Point aluminium smelter in New Zealand will have a far reaching impact on the economy. A recent report by the NZ Ministry for Business Innovation and Employment forcasted a rapid exit of several fossil fuel power plants from the country if the aluminium smelter finally closes its operations.<br /><br />The dwindling coal and gas fired power plants at Huntly would shut down at the end of 2019 and the gas fired plant run in Stratford by Contact Energy would close even early, if Tiwai Point smelter went out of business.<br /><br />The smelter going out of operations would so dampen the electricity consumption of the country that the total demand would not bounce back untill end of 2020s, the report added. <br /><br /><img style="vertical-align: middle; display: block;...
<p>At <strong>AlCircle</strong>, innovation is the key to aspire and excel! Having created a niche of its own as a one-of-a-kind Information and B2B portal for the complete global value-chain of Aluminium; AlCircle is now poised to launch a bucket of services to be called <strong>AlToolz</strong>, tailor-made for the aluminium industry participants both from the large scale enterprises as well as the SME sector.<br /><br /><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/AlToolz31-08-2016.png" alt="AlToolz" width="680" height="270" /><br /><br />There is a big market for information and it is growing manifold every day. Getting the right kind of information for your business at the right time is one of the prime criteria in running a business...
<p>The US dollar index will find support from US economic data and speeches by US Fed officials. Crude oil prices will face pressure from oversupply. LME aluminium will fall to USD 1,620-1,640/mt. <br /><br />SHFE 1610 aluminium will move at RMB 12,240-12,400/mt, with short selling pressure. <br /><br />In east China’s spot aluminium market, spot premiums of RMB 140-180/mt are expected over SHFE 1609 aluminium contract.<br /><br /><strong>Key macroeconomic indicators for base metal prices</strong><br /><br />Eurozone and regional unemployment and inflation, ADP employment for the US and July pending home sales are due for release today. The US dollar index strengthened overnight, while crude oil weakened. Base metals continued to diverge.<br /><br />Inflation rates in Italy,...
<p>According to a latest Reuters update, a major international aluminium producer has offered buyers from Japan a premium of US $82 per tonne for primary metal scheduled for October-December shipment. The premium amount is lower by 9-12 per cent from the last quarter, reported sources involved in market pricing.<br /><br />Japan is presently the biggest importer of aluminium in Asia and the premiums it agrees to pay for primary aluminium shipments for each quarter over the cash price settled at the London Metal Exchange (LME) set the benchmark for the region. <br /><br />According to the report, Japanese buyers agreed to pay a premium of $90-93 PREM-ALUM-JP, for the July-September quarter. The premium, down by 19-23 per cent from the last quarter, has been weighed on by weaker premiums in...
<p>Vedanta Limited is slowly getting back to full-fledged operations in all its facilities after a slowdown due to a number of issues like potline failure due to power shut down, raw material scarcity, low metal price, and cheap imports from China etc. According to a press update from Vedanta Limited the Third 660 MW unit of Talwandi Sabo Power Plant in Punjab has started commercial production on 24th August 2016 and will be capitalized in September 2016.<br /><br />On the aluminium segment, Vedanta confirmed that they have completed commissioning of the first pot line at the 1.25mtpa Jharsuguda-II Aluminium smelter in July 2016. The commissioning of the second line is continuing and that of the third line of the smelter would start in September 2016.<br /><br /><img...
<p>Aluminium Bahrain B.S.C. (Alba), home-base of the Line 6 Expansion Project, announced today, August 23, 2016 that it has awarded Siemens the Power Distribution System (PDS) contract for Power Station 5 (PS 5).<br /><br />Under the terms of this contract, Siemens will be responsible to design, engineer, procure, construct and commission High Voltage electrical network comprising distribution switchgears and transformers to expand Alba's electrical network. Siemens will, also, provide state-of-the-art Gas Insulated Switchgear (GIS) up to 220kV. The design will provide Alba with a highly flexible and redundant network to ensure power availability in all scenarios.<br /><br />Commenting on this appointment, Alba's Chairman of Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa...
<p>Mining giant BHP Billion spin-off South32 indicated last week Thursday that it has no plan to restart idled capacity at its aluminium facilities in Southern Africa in the next couple of years. The Australian metals and mining company had idled the aforesaid capacity on being unable to cope with the mounting losses due to depressed aluminium prices and the rising uncertainty revolving around power supply in the region. <br /><br />Graham Kerr, CEO South32 said that there were almost 24 idled pots at the Hillside aluminium smelter in Richards Bay, South Africa that stand ready to be brought back to operations. They have been relined and will be made to start production when the time is right.<br /><br />Kerr said disruption in power supply in the Northern Cape has also dropped...
<p>Aluminium futures traded on India’s Multi Commodity Exchange, Mumbai, inched marginally higher today by 0.09 per cent to INR109.65 per kg as traders expanded position, helping the metal track a steady trend at spot market driven by boosted demand from end user industries. <br /><br />At MCX, aluminium for delivery in August traded higher by 0.09 per cent to INR109.65 per kg in a business turnover of 183 lots.<br /><br />The metal for delivery in September contracts also scaled up by 0.05 per cent to INR 110.55 per kg in 47 lots. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/MCX%20Aluminium.jpg" alt="News" width="645" height="355" /><br />Source: http://www.moneycontrol.com/<br /><br...
