Bell Bay Aluminium (BBA), Australia's oldest aluminium smelter, is reviewing its workforce and offering redundancies for a small number of positions, just over a month after receiving an AUD 200 million (USD 137.52 million) government support package aimed at securing the facility's future until at least 2031. Up to 10 roles are understood to have been affected by the review, although the smelter is expected to retain its existing workforce of approximately 550 full-time equivalent (FTE) employees. Some redeployment opportunities will also be available, while the positions identified are not understood to involve frontline services. The changes reportedly include some former participants in Bell Bay Aluminium's graduate programme. Rio Tinto, which operates the smelter near George Town in...
South32 expects the sale of its aluminium value chain assets to Alcoa to be completed in the six months ending June 2027. The proposed transaction covers its aluminium operations and related bauxite and alumina assets in South Africa, Australia and Brazil. The sale follows a binding conditional agreement signed by the two companies, under which Alcoa agreed to acquire the assets for up to USD 5.6 billion . The assets include South32's Hillside Aluminium smelter and the idled Bayside smelter in South Africa, its interests in the Boddington bauxite mine and Worsley alumina refinery in Australia, and the Mineração Rio do Norte bauxite mine and Alumar alumina refinery and aluminium smelter in Brazil. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
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Hong Kong Exchanges & Clearing Ltd said on Sunday it had settled two class-action lawsuit complaints against itself and subsidiary the London Metal Exchange (LME) over allegations of anti-competitive and monopolistic behaviour. The lawsuits, brought by small aluminium manufacturers in the United States, accused banks and traders of hoarding metal in LME warehouses, driving up the prices of industrial products from soft-drink cans to aeroplanes. Of 26 lawsuits filed against LME, 24 were consolidated into three complaints according to type of user: "first-level" purchasers that buy primary aluminium, consumer end users and commercial end users. "The consumer end user plaintiffs and commercial end user plaintiffs have entered into a settlement and mutual release ... to bring an end to their...
China’s aluminum output advanced to a record, underscoring the threat to global producers as low-cost capacity expands in the world’s biggest supplier. The country made 2.8 million metric tons of aluminum in June, 18 percent more than a year earlier, National Bureau of Statistics data show. Production climbed 12 percent in the first half to 15.61 million tons. New supply from China is forcing smelters elsewhere to cut output as exports surge and prices slump. Shipments from the country rose to the highest this year in June, boosting a global surplus of the raw material used in everything from cans and cars to aircraft and sending rates to the lowest since 2009. “The Chinese market is in a fundamental surplus and that’s growing,” said Ivan Szpakowski, commodities strategist at Citigroup...
India plans a $3 billion aluminum smelter complex in Iran, now that nuclear negotiations between Tehran and the P5+1 countries have concluded, media reports say. The idea was mooted in 2014 but India has been cooling its heels for the removal of sanctions on Iran to go ahead with the plan. India’s National Aluminium Co.(NALCO) is now seriously considering to implement the project after Iran and the P5+1 finalized their negotiations on Tuesday. The plan includes the construction of a smelter to produce 500,000 metric tons of aluminum per year and a 1,000-megawatt captive power plant. India’s coal stock is not sufficient to power its aluminum production and since imports of coal are not viable, the country has to look for reserves and build a plant abroad. Iran is using a mix of sources for...
China's production of aluminiumr rose 3.3 percent from the previous month in June. New capacity continued to drive up production of primary aluminium to a fresh record of 2.76 million tons in June. In the first half, aluminium output jumped 11.7 percent from a year ago to 15.6 million tonnes. More than 2 million tonnes of aluminium capacity started production in the first half, said Xu Hongping, analyst at China Merchants Futures. Another 3 million tonnes of new capacity is likely to come onstream in the second half, she said. Production costs to many aluminium smelters had fallen due to weak prices of raw material alumina and coal, offsetting weak domestic prices AL-A00-CCNMM, Xu said. Xu expects aluminium production to rise further in the coming months.
The Aluminium Association of India (AAI), the industry body of Indian aluminium producers, met the Secretary, Ministry of Mines and Chairman of Central Board of Excise and Customs on Thursday, seeking government action to protect the cheap imports and crushing meltdown in global prices by imposing an import duty of 10%. The delegation also proposed a protectionist policy of mandating Indian buyers to purchase the products of Indian aluminium producers. The association said the new projects set up by Indian players, which could double aluminium production in the country, were functioning at less than the capacity. Total imports to India have surged by over 159% to 1,563 kilo tonne (KT) in 2015 as against the import of 881 KT in 2011, according to AAI. The association said that imports,...
Century Aluminum Company will report second quarter 2015 earnings on Thursday, August 6th after the close of market trading. The news release will be issued through Marketwired. The company will hold a follow-up conference call on Thursday, August 6th at 5:00 p.m. Eastern time. The earnings call will be webcast live on the Century Aluminum Company website. Plan to begin the registration process at least 10 minutes before the live call is scheduled to begin. A replay of the webcast will be archived and available for replay approximately two hours following the live call.
Rio Tinto releases strong production results for second quarter 2015 across all sectors. Rio Tinto chief executive Sam Walsh said “We have maintained our emphasis on efficiency and protecting returns, which is reflected in this solid production performance. We have also delivered three significant achievements within our growth portfolio. In aluminium, our Kitimat smelter is now producing metal from its expanded facilities, bringing 80 per cent of our smelting capacity into the first cost quartile. Our combination of world-class assets, financial strength, and operating and commercial excellence provides a sound base to continue to generate sustainable returns for our shareholders.” Aluminium Highlight • The modernised Kitimat aluminium smelter in Canada poured first hot metal during the...
Aluminium settled down -0.7% at 106.25 as major economic indicators released yesterday fell short of market expectations. China's exports of unwrought aluminum and aluminum semis were 450,000 mt in June, with YTD exports from January to June at 2510,000 mt, up 35.2 % YoY. Aluminium stocks held at three major Japanese ports stood at 499,900 tonnes at the end of June, down 0.5 percent from 502,200 tonnes a month earlier. China's economy grew an annual 7.0 percent in the second quarter, steady with the previous quarter and slightly better than analyst forecasts, though further stimulus is still expected after the quarter ended with a stock market crash. The U.S. Commerce Department said that retail sales declined by a seasonally adjusted 0.3% last month, disappointing expectations for a gain...
Taking positive cues from global market and strong demand at domestic spot markets, aluminium prices edged up 0.38% to INR 106.65 per kg in futures trade today as participants enlarged positions. Marketmen said apart from increased domestic demand, a firming global trend as Chinese economic data came in ahead of estimates, boosting demand prospects in the world's biggest consumer of base metals, helped aluminium futures to trade higher. At the Multi Commodity Exchange, aluminium for delivery this month inched up by 40 paise, or 0.38%, to INR 106.65 per kg in a business turnover of 112 lots. Likewise, the metal for delivery in August traded higher by 30 paise, or 0.28%, to INR 108.35 per kg in five lots.
Aluminum prices, though rebounding from six-year low thanks to China’s efforts to stabilize plummeting stock market, still face downward pressure from poor market fundamentals, enanchu.com predicts. Expansions of low-cost new capacity are exacerbating already oversupplied market. For example, Xinjiang Qiya Aluminum just put online 250,000-tpy capacity, which will bring its total operational capacity up to 850,000-tpy by the end of July. Xinjiang East Hope is in the process of commissioning its 900,000-tpy new project. More capacities might enter operations once aluminum prices become attractive. Small-scale production cuts have been reported in Henan, but these are just a tip of the iceberg in relation to overwhelming capacity in operation. Aluminum demand has taken a hit by sluggish...
Aluminium stocks at Japanese ports fell for the first month in more than a year in June as western banks started snapping up metal in Asia after spot premiums fell to two-year lows. Aluminium stocks held at three major Japanese ports fell 0.5 percent to 499,900 tonnes at the end of June from a month earlier, trading house Marubeni Corp said on Wednesday. It was the first decline since March last year. Prior to June's fall, stocks had risen to record levels over several months due to rising exports from China and slack demand in Asia. Japan is Asia's biggest importer of the metal used in cans and window frames. Big western banks were among buyers recently, after spot premiums over LME cash prices crashed to two year lows around $70-$80 a tonne in the second quarter. That left reduced...
The International Conference on Non-Ferrous Minerals and Metals; organized by Corporate Monitor, which has earned its reputation as a forum for the domestic and international Non-Ferrous industry players as well as industry experts, just concluded its 19th session on July 10, 2015 in Bhubaneswar. Though, currently the non-ferrous metal and mining sector is going through a tough period due to dwindling metal prices, the conference speakers highlighted a positive outlook for the industry, especially for India. Chairman and Managing Director of NALCO, NR Mohanty, said that the Indian market is becoming highly competitive despite the overall pessimistic situation in the metal sector. “It is high time for aluminium companies in India to maximise production from scrap. Recycling scrap into...
Chalco reversed losses in its aluminum segment in H1 2015, it said during its mid-year conference. The Chinese aluminum giant attributes the surprising result partly to cost reduction and higher production efficiency.
Coal-electricity- aluminum -processing industry chain is developing in full swing in Yichuan Industrial Park, Henan Province, local media reported. The park is now home to 2.22 million Kw installed power generating capacity, 840,000 tonne aluminum capacity and 650,000 tonne aluminum processing capacity, the media added.
Despite being set up well prior to the act's establishment Tiwai aluminium smelter needs to comply with environmental obligations under the Resource Management Act, a Ministry for the Environment spokesperson says. A new policy in the proposed Invercargill City District Plan "encourages" New Zealand Aluminium Smelters (NZAS) to rehabilitate Tiwai Point if the smelter closes - but the smelter maintains it has strict internal requirements around any such eventuality. A question arose around where the smelter sat in terms of environmental obligations - as it was established in the late 1960s under a far more permissive regime. Although the smelter was set up prior to the Resource Management Act coming into force, the smelter still needed to comply with environmental obligations under the...
Saudi Arabian Mining Co (Ma'aden) posted a 27 percent fall in second-quarter net profit on Tuesday, missing analysts' forecasts as higher sales by the Gulf's largest miner could not make up for lower prices for its products. Net profit for the three months to June 30 was 270 million riyals ($72 million) versus 370.8 million riyals in the corresponding period of 2014, it said in a bourse statement. Three analysts surveyed by Reuters had forecast on average that Ma'aden would report a net profit of 380.4 million riyals. Ma'aden cited the falling prices for aluminium, ammonia and gold and an increase in costs from higher sales for the profit drop without elaborating. Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later....
The Aluminum Association’s “Index of Net New Orders of Aluminum Mill Products” for the month of June 2015 have increased slightly by 1.8% from the previous month. The orders jumped 7.6% from June ’14 levels. The year-to-date new mill orders index was up by 5.80% in 2015. New orders for plates have increased 4.5% in June this year when compared with the month before. The June ‘15 plate orders were up by 12.7% when matched with June ‘14 levels. The heat-treatable sheet orders during the month of June this year declined by 2.7% from May ’15. However, the orders climbed higher by 205.0% over the previous year. Non-treatable sheet orders were up by 9.4% year-on-year, but declined marginally by 1.8% from the previous month. New orders for extruded products and domestic can were up in June,...
The earnings performance of metal companies, both ferrous and non-ferrous, is expected to remain lacklustre for the second consecutive quarter because of a decline in steel realisation, increased cost of provisioning for the district mineral foundation fund, and a significant fall in aluminium premiums. “The June quarter will be the third consecutive quarter of net profit de-growth. Such consecutive de-growth was last witnessed in September 2009, during the global financial crisis,” said a report by Motilal Oswal Securities. “Metals will be reporting their lowest PAT (profit after tax) in eight years,” it added. Large integrated steel producers like Tata Steel, Steel Authority of India and Jindal Steel & Power and non-ferrous metal companies like Vedanta and Hindalco were expected to put...
