National Aluminium Company Limited (NALCO) has paid INR 11 billion (USD 114 million) in dividend to the Government of India for FY26, marking the company’s highest-ever payout. The company declared a total dividend of INR 21 billion (USD 219 million) for FY26, including one final dividend and three interim dividends. This represents a 230 per cent payout on equity shares with a face value of INR 5 (USD 0.052) each. The dividend cheque was handed over to Union Minister G. Kishan Reddy at an investor roadshow in Kolkata on September 28, 2026. NALCO reported a profit after tax of INR 58 billion (USD 604 million) for FY26. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade...
LME aluminium prices eased on September 28 after rising in the previous session, with cash and forward contracts moving lower. The Asian Reference Price also declined, while a sharp rise in cancelled warrants pushed live warrants lower. The cash bid slipped 0.15 per cent to USD 3,248 per tonne from USD 3,253 per tonne , while the cash offer fell 0.17 per cent to USD 3,248.50 per tonne from USD 3,254 per tonne. Three-month aluminium prices followed the weaker trend. The bid dropped 0.41 per cent to USD 3,251.50 per tonne from USD 3,265 per tonne, while the offer was down 0.46 per cent to USD 3,252 per tonne compared with USD 3,267 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036:...
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A line in a smelter with 300 pots once decommissioned will take around six months to be brought back into production stream. It is in this context that the recent set of aluminium production figures submitted by China Nonferrous Metals Industry Association (CNMIA) to the International Aluminium Institute (IAI) has led industry constituents in the rest of the world to believe the country, which alone accounted for 32 million tonnes (mt) of the 2015 world output of 58 mt is once again at the game of data obfuscation. But, then, much of the Chinese economic data remains suspect. Assuming that the Chinese submission to IAI that its aluminium production between December and February was down by an annualised 6.6 mt was correct, it would then be inconceivable that production could pick up by...
SMM surveyed 44 Chinese aluminum smelters about their opinions over aluminum price outlook. About 44% of them expect SHFE 1608 aluminum to fall below RMB 11,800/mt and LME aluminum below USD 1,540/mt. First, total positions of all SHFE aluminum contracts surged 34,000 lots on Monday, many of which were believed to be short positions. SHFE 1608 aluminum has met strong resistance at moving averages. Second, suppliers are eager to sell out of pessimism, but downstream producers showed no signs of restocking, with spot premiums in Shanghai down from RMB 100/mt to near zero over SHFE front-month aluminum. Third, demand will weaken in June due to onset of the off-season. Another 36% expect SHFE 1608 aluminum to stabilize at RMB 11,800-12,000/mt and LME aluminum hold stable at USD...
In order to speed up development of coal-electricity-aluminum industry, the government of Yunnan decided to cut power tariffs for Yunnan Aluminum Co. The preferential power tariffs are set at 0.2785 yuan/kwh, effective from June 1, 2016 till May 31, 2017. The move will save the company’s aluminum costs by 940 yuan/tonne, SMM estimates. Yunnan Aluminum Co., whose full cost is estimated at less than 11,000 yuan/tonne, has restarted 50,000-tpy aluminum capacity idled at the end of last year, and plans to bring the rest 150,000-tpy capacity back online, due to rally of aluminum prices compared with late last year and recent power tariff cuts.
Aluminum prices will probably extend losses as production in China is set to increase after a rally lifted smelters’ profits, according to Goldman Sachs Group Inc. With most producers in the world’s largest supplier posting solid margins, output growth will accelerate to 4 percent year-on-year in the second half after contracting 1.7 percent in the first four months, Goldman said in a report Monday. As capacity fires up, the bank sees prices dropping to $1,450 a metric ton in three months, $1,400 in six months and to $1,350 in a year, reiterating previous forecasts. Aluminum climbed to a nine-month high on the London Metal Exchange in April as a credit boom and government stimulus in China boosted demand. Prices have since receded on concerns that producers will restart smelters just as...
Aluminium prices edged up by 0.48 per cent to Rs 103.85 per kg in futures trade today as participants widened positions amid a firming trend overseas. Strong demand in the spot market also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery this month inched up 50 paise or 0.48 per cent to Rs 103.85 per kg in a business turnover of 303 lots. Likewise, the metal for delivery in July traded higher by 30 paise or 0.29 per cent to Rs 104.60 per kg in 7 lots. Marketmen said that apart from increased domestic demand, a firming trend in global markets, helped aluminium futures to trade higher.
Aluminum capacity restarts in China will continue increasing, but far from enough to fill in the supply gap caused by massive closures late last year, SMM understands. SMM estimates the amounts of restarted aluminum capacity in China at 400,000-500,000 tonnes during June-July. The amount of new aluminum capacity will depend on aluminum price movement. As of June 2, aluminum stocks in China’s five major markets were down some 200,000 tonnes from the end of April and down as much as 714,000 tonnes from the same period last year, SMM statistics showed.
In China’s spot aluminum market, spot premiums will narrow to RMB 0-40/mt over SHFE 1606 aluminum contract today. US May non-farm payrolls grew at its lowest in nearly six years, dampening chance for rate hike in June. LME aluminum will move at USD 1,540-1,570/mt today. SHFE 1607 aluminum unexpectedly fell below the 60-day moving average and remain weak at RMB 11,800-11,980/mt today.
Affirming its position as one of the world’s largest and leading primary aluminium producers, Emirates Global Aluminium (“EGA”) is proudly participating at Harbor’s 9th Aluminium Outlook Summit (“Harbor 2016”) as lead sponsor for the fourth consecutive year. Organised and hosted by Harbor Aluminium Intelligence the summit will take place in Chicago, USA, from 7 to 9 June 2016. EGA’s activities at Harbor 2016 include the participation of EGA’s Chief Marketing Officer, Walid Al Attar, in a panel discussion on 8 June 2016, entitled “World’s major aluminium market players opine on strategic market topics.” Additionally, EGA will host a networking lunch for the participating delegates immediately prior to the panel discussion. Al Attar, a regular attendee and speaker at the event since EGA and...
Iran is seeking to expand aluminium production, and this move will only get already oversupplied Middle East even worse, SunSirs reported. Iran officials said the country will produce aluminium on a large scale to meet demand in domestic market and the Middle East. The country has already invested $2.7 billion in aluminium industry so far. It was predicted that global aluminium demand will grow 5% in 2016 while production will rise just 2%, which will leave a supply deficit of 1.1 million tonnes. Aluminium consumption in the Middle East and North Africa will increase 5% in the first quarter this year, and Saudi Arabia, in particular, will see 12% growth. One SOE in the United Arab Emirates increased aluminium output by 4% to 2.4 million tonnes last year. Another company, Aluminium...
SHFE 1607 aluminium fell to RMB 12,060/mt after opening at RMB 12,125/mt overnight. But prices then rallied to RMB 12,290/mt before ending at RMB 12,230/mt. On Thursday, SHFE 1608 aluminium shifted to the most active contract and opened at RMB 12,065/mt and advanced to RMB 12,165/mt, to end at RMB 12,145/mt, up RMB 160/mt. Trading volumes increased 70,952 to 178,172 with positions up 874 to 191,924.
Iran is stepping up talks with potential foreign investors with an eye to developing its mining and metals industries, Mehdi Karbasian, president of state-owned Imidro, the Iranian Mines and Mining Industries Development and Renovation Organization, said. Imidro recently held talks with Rio Tinto in Berlin on the possibility of new investments in Iran’s aluminum, steel, copper and gold industries, Karbasian said in a telephone interview from Berlin, after opening an Iran-Europe business center. Two weeks ago top executives of Glencore, Trafigura and Aurubis participated in a meeting in Hamburg to discuss cooperation in the Iranian copper industry, Karbasian said. Glencore and China’s NFC already have business agreements to help develop Iran’s copper industry, Karbasian said earlier this...
UC RUSAL, a leading global aluminium producer, and Maersk Line, the world's largest container shipping company, today announced they have signed a three year letter of intent for long-term cooperation in the maritime transport sector. Under the agreement, RUSAL and Maersk Line have agreed to cooperate for the long-term with regard to cargo container shipments of RUSAL’s products, particularly aluminum and alloys, by Maersk’s container fleet and ships. The cargo volume is estimated to be up to 10,000 containers per year. The agreement is valid for three years with the possibility of further extension. “The signing of this agreement is a confirmation of the mutual intentions to build a long-term strategic partnership between RUSAL and Maersk Line. The aim of the agreement is the joint...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, is on track to meet its strategic growth by accelerating the early works on Line 6 Expansion Project, according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The statement was made following the second quarterly meeting for this year, which was held on Wednesday, June 1, 2016 at Alba. Adding further, Shaikh Daij said: "Alba’s status as an international producer of high-grade aluminium will be bolstered once Line 6 Expansion Project is completed. We are pleased with the reduced capital cost and fast-paced progress of the Project and, are confident of delivering the first hot metal in early January 2019." During the meeting, the Board reviewed...
Norwegian aluminium company Norsk Hydro ASA's fully owned subsidiary, Hydro Aluminium Rolled Products GmbH, has secured a power contract with Axpo Trading AG, a Switzerland-based energy company with captive power production and international trading activity, totaling 1.3 TWh (150 MW) annually in the five year period from 2021 to 2025. The power contract supplements the power contract which was entered into in July 2015, totaling 0.9 TWh (100 MW) annually in the eight year period from 2018 to 2025. These two contracts replace an existing combination of internal and external power arrangements entered into in 2012, supplying Hydro Neuss primary aluminium plant with a total of 2.2 TWh (250 MW) annually in the period from 2013 to 2017. In the period from 2018 to 2020, the remaining 1.3 TWh...
Caution will dominate before the release of China May manufacturing PMI. SHFE 1607 aluminium will move narrowly between RMB 12,000-12,300/mt today. LME aluminum will fluctuate at USD 1,540-1,565/mt, with growing resistance. In China’s spot aluminium market, spot premiums of RMB 80-120/mt are expected over SHFE 1606 aluminium contract.
An interesting article in Reuters this week examines the Chinese aluminum market trends. It points out that the statistics coming out of China are even more unreliable than normal showing rises and falls of millions of metric tons from month to month. Specifically, Chinese output supposedly slumped by an annualized 6.6 million mt in the December-February period only to surge back by 5.2 mmt in March and April, almost certainly not the case when you consider the time it takes to idle and restart smelters. Shanghai Futures Up Taken over a longer time frame, though, run rates actually appear to have fallen slightly from Q4 to Q1 which would make sense when you look at the low Shanghai Futures Exchange (ShFE) price during that period. It fell below 10,000 yuan per metric ton ($1,525). But the...
The end of a decades-long power subsidy is threatening the future of Portland's smelter, putting at risk the Victorian coastal community's economy. The fixed 20-year subsidy between the Victorian Government and global aluminium producer Alcoa seems unlikely to continue after November, with Treasurer Tim Pallas ruling out "open-ended engagements" with the company. Enacted in the late 1980s by then-Labor premier John Cain, the subsidy was designed to provide electricity to both the Portland and now-defunct Point Henry smelters at a price linked to the world price of aluminium. Mr Pallas said the subsidy had come at a significant cost to successive Victorian budgets. "If you look back at the time the arrangements were struck, it would have been seen that the level of liability the state was...
With Coal India (CIL) planning to raise its revenue margin by an additional INR 3,234 crore by increasing the average coal prices by 6.29 per cent, power tariffs in plants across the country are set to rise. To push sales of higher-grade coal and to price them at par with international trends, CIL reduced prices between INR 50 and INR 1,420 for the G1-G5 grades and - to make up for the loss on account of this - it increased prices in the lower G6-G17 grades between INR 70 and INR 300. Although prices have been reduced for the higher grades, the power sector in the country mostly uses the lower G8-G13 band where prices have soared by 13.60-18.03 per cent. “If input costs go up as a result of the price increase in coal, a price rise in power might happen,” said an NTPC official, adding that...
