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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Norwegian aluminium company Norsk Hydro ASA's fully owned subsidiary Hydro Energi AS has signed a long-term power contract with Eidsiva Vannkraft AS, a Norwegian hydro power producer, for annual supply of 300 GWh annually over 10 years from January 1, 2021, and a total delivery of 3.0 TWh. Hydro has already signed power contracts for the Karmøy pilot with Axpo Trading AG for 250 GWh annually, in the period 2021-2030, and with Lyse Produksjon AS for 330 GWh annually, for the period 2031-2040.
Aluminium Bahrain B.S.C. (Alba), one of the world's leading aluminium smelters, was a key sponsor and participant in the 8th Harbor's Aluminium Summit, taking place from June 2 to 4, 2015 in Chicago, Illinois, USA. Harbor Aluminium Summit, considered as one of the largest aluminium market gatherings in the Americas, is designed for leaders in the aluminium value chain looking to expand their clients and suppliers base as well as understanding of the aluminum industry. Attended by Alba's Chief Executive Officer, Tim Murray, Acting Chief Marketing Officer, Khalid Latif and Sales Manager of Alba Americas, Zac Jungers, the company seeks to strengthen its presence in the global aluminium industry, and meet with key clients and customers at the 8th Harbor's Aluminium Summit. Murray was also a...
Chinese imports of primary aluminium ingot are likely to rise in coming months after the price of the metal fell on the global market, prompting end-users to buy, industry and trading sources said on Thursday. The weak London Metal Exchange (LME) price is opening a rare arbitrage opportunity for Chinese investors to sell aluminium futures in Shanghai and buy on the LME, which may result in some imports, the sources said. "We started selling more to Chinese end-users last week," said an Asian-based executive whose firm trades aluminium and also manufactures aluminium products in China. "China's imports will probably rise in the coming two or three months, although the rise may not be very big." Imports of primary aluminium fell 79 percent in the first four months of 2015 compared with a...
The government of Guangxi is working to cut costs for local aluminum smelters by power tariff cuts and tapping into rich hydropower in neighboring provinces, CNMN reported. The local government will establish regional power networks and try to cut power tariffs from over 0.06 yuan (0.97 cents) per Kwh to about 0.03 yuan per Kwh for industrial power users. Besides, the government is also looking to tap into abundant hydropower in neighboring Yunnan and Guizhou, the media added. A 0.02 yuan per Kwh reduction in power tariffs could translate into over 2.600 yuan per tonne savings in aluminum smelting costs.
Alba, one of the world's leading aluminium smelters, yesterday received Kazakhstan Ambassador to Saudi Arabia Bakyt Batyrshayev. Mr Batyrshayev was welcomed by chief operations officer Isa Al Ansari, chief financial officer Ali Al Baqali and other Alba officials. The main purpose of the visit was to meet with Alba representatives and know more about the smelter's production processes as well as its role in supporting Bahrain's economy. During the visit, bilateral and business relations between Bahrain and Kazakhstan were discussed. 'We are pleased to receive Mr Batyrshayev and appreciate the visit as such meetings contribute towards enhancing economic relations between our countries, 'Mr Al Ansari said. The ambassador was also given a tour of Alba where he was briefed about the smelter's...
United States Geological Survey (USGS) has reported that US domestic primary aluminum production in March 2015 was 143000 metric tons. The average daily production was 4,600 t, slightly less than the daily production during the previous month and 7% less than that in March 2014. Total aluminum recovered from scrap in March 2015 was 300,000 t, slightly more than that recovered in February and in March 2014. Of this, 164000 tonnes of aluminum was recovered from new scrap, 3% more than the amount during the previous month and slightly more than the amount recovered in March 2014. The amount of aluminum recovered from old scrap was 136000 tonnes, slightly more than the amount recovered in the previous month and in March 2014. Total imports of aluminum in the first quarter of 2015 were 5% more...
Hind Aluminium reported its results showing a rise in net profit by 778.26% to INR 4.04 crore in the quarter ended in March 2015 rising from INR 0.46 crore reported for the same period in 2014. Total standalone income from operations was reported to be INR 154.22 crore for the March quarter of 2015 rising from INR 82.68 crore seen in March quarter 2014. Sales rose 87.02% from INR 82.11 crore in March quarter 2014 to INR 153.56 crore in March quarter 2015. In terms of the full year, the profit rose 24.23% to INR 7.28 crore in March 2015 as against INR 5.86 crore during the previous year ended March 2014. Sales declined 0.67% to INR 435.47 crore in the year ended March 2015 as against INR 438.39 crore during the previous year ended March 2014. Hind Aluminium shares closed at 54.00 on June...
Noranda Aluminum Holding Corp will have to seek a new power supplier or negotiate a new contract with Ameren Corp in five years to keep its Missouri smelter running, the latest obstacle for its only primary aluminum plant. Energy provider Ameren's Missouri division told Noranda last Thursday it will not extend a power contract for its smelter in New Madrid after the current contract expires in 2020, Noranda said in a regulatory filing on Tuesday. That was the five years' notice needed to avoid an automatic one-year renewal. The notice comes just one month after Missouri's state regulator approved a reduced power rate for the 253,000 tonne-per-year smelter, which Ameren Missouri had fought. The news comes just as Noranda prepares to fight an attempt by the government of Jamaica to prevent...
Aluminum gained for the second time in three sessions on speculation that demand will climb in China, the world’s top metals consumer. A Chinese factory gauge rose last month, signaling that the government’s monetary easing has helped to cushion the economy. Goldman Sachs Group Inc. said Monday that more aluminum will probably be used in the nation’s electrical grid after updates from China’s National Energy Administration on metal standards. Inventories monitored by the London Metal Exchange are at the lowest since April 2009. “A decline in stockpiles in always supportive as it helps the fundamental story,” Mike Dragosits, a senior commodity strategist at TD Securities in Toronto, said in a telephone interview. “There are expectations of further monetary easing in China,” which will keep...
The Aluminum Association recently announced a new partnership with the Department of Energy (DOE) to increase the number of aluminum industry jobs in the U.S. and explore new, sustainable technologies to advance U.S. manufacturing. The DOE’s Aluminum Industry Jobs Partnership will identify opportunities to expand plant capacity and improve workforce development systems to help bring qualified candidates to the industry. Currently, the $65 billion aluminum industry directly employs around 155,000 workers in the United States. The Aluminum Industry Jobs Partnership will be composed of participants from the Aluminum Association and its member companies as well as the DOE Jobs Strategy Council (JSC) and Office of the Secretary. The JSC is a cross-cutting initiative that integrates the...
Aiming to raise awareness of its industry leadership status, Emirates Global Aluminium ("EGA") is proud to be a lead sponsor of HARBOR's 8th Aluminium Outlook Summit, organised and hosted by HARBOR Aluminium Intelligence in Chicago, USA, from 2 to 4 June 2015. EGA's sponsorship activities at the event include hosting the main registration area and conducting a networking lunch for delegates on 3 June. More importantly, Walid Al Attar (Chief Marketing Officer at EGA) will participate in the 'Strategic Market Panel' on 3 June, during which key industry topics will be discussed. No stranger to the annual HARBOR Outlook Summits, Al Attar has been a regular attendee and speaker at the event since EGA and its operating subsidiaries began participating in 2010. "2015 marks the third consecutive...
China imported 17,500 mt of primary aluminum in April, down from a year ago, but up 65.09% MoM, customs data showed. The SHFE/LME aluminum price ratio climbed from 7.1 in early March to 7.5 in April, favoring aluminum imports. In addition, overseas aluminum premiums continued falling, with premiums in East Asia down from USD 400/mt at the end of last year to around USD 150/mt, another incentive for imports. Overseas aluminum prices will be pressured by growing supply while aluminum prices in China will be relatively resistant to declines. As such, the SHFE/LME aluminum price ratio will increase further, which will boost imports.
The Indonesian Resources Studies (Iress) praised on Sunday the performance of state-owned aluminum producer PT Indonesia Asahan Aluminium (Inalum) for doubling its April-December 2014 profits from the same period of the previous fiscal year. “Inalum’s increased net profits show that Indonesians in charge of the company’s management have mastered aluminum processing,” Iress president director Marwan Batubara said as quoted by Antara in a statement in Jakarta on Tuesday. According to official data, Inalum’s production of aluminum bars reached 199,692 tons from April to December 2014, up 4.1 percent from 190,363 tons in the same period of the previous year. Marwan said the company’s success could not be separated from the work performance of its management. With its doubled profits, he said,...
Continuous coal price fall has further cut power costs at Chinese aluminum smelters using captive power, SMM has learned. The Bohai-Rim Steam-Coal (5,500 Kcal) Price Index (BSPI) fell for 19 weeks running to 414 yuan ($67) per tonne as of May 22. As much as 70% of the country’s operational aluminum capacity relies on captive power, with the rest 30% using on-grid power, SMM statistics found.
Indian aluminium companies have raised an alarm demanding quick action from the government to put a stop to “Chinese dumping” which is affecting their business adversely, industry leaders say. Hindalco’s managing director D Bhattacharya says that since the Chinese GDP growth rate has slowed and has now become lower than India’s, there is little growth in the manufacturing sector. The aluminium sector however receives ample boost from their government in terms of subsidies and incentives. If the Chinese economy does not pick up, and the overall manufacturing sector does not improve, they will continue to dump their highest produced commodity, aluminium, causing a serious impact on all manufacturers outside China. Some countries have already imposed anti-dumping duties on imports from...
Hindalco Industries Ltd’s profitability took a hit in the March quarter, compared with the December quarter. Though its aluminium output rose smartly as its new capacity ramped up, falling prices and weaker metal premiums affected realizations. The copper business did relatively better but its profitability, too, declined. Aluminium production rose by 11.5% while that of copper rose 5.3%. In the March quarter, Hindalco’s stand-alone revenue rose by 8.9% to INR9,371.6 crore, over the preceding quarter, with aluminium leading the way with a 13.9% increase. But the aluminium division’s segment profit fell by a massive 20.3%, and copper segment’s profit fell by 1.6%. Lower realizations hurt aluminium margins, while copper suffered due to adverse market conditions, according to a company...
Aluminium slid on Friday on continued worries about heavy output from China swamping the global market and was on track for its biggest monthly decline in over 2-1/2 years. Three-month aluminium on the London Metal Exchange dropped 1 percent to $1,758 a tonne by 0943 GMT after gaining 2.2 percent on Thursday. Aluminium is set for a loss of 8.7 percent in May, the biggest monthly drop since October 2012, as data showed Chinese output rose to 2.59 million tonnes in April. "I definitely see more downside risks than upside potential for aluminium because of the supply glut," said analyst Daniel Briesemann at Commerzbank in Frankfurt. "Looking at the technical side, I wouldn't be surprised to see the price to drop to $1,700 and it would be very interesting if it crashes through this level."
State-run National Aluminium Company (Nalco) on Saturday reported a more than doubling of its net profit of INR354.87 crore for the fourth quarter ended March on the back of an exceptional gain as against INR172.45 crore in the same quarter a year ago. New Delhi, May 30 (IANS) State-run National Aluminium Company (Nalco) on Saturday reported a more than doubling of its net profit of INR354.87 crore for the fourth quarter ended March on the back of an exceptional gain as against INR172.45 crore in the same quarter a year ago. The Bhubaneshwar-headquarterd Nalco said in a stock exchange filing that during the quarter in question there was an out-of-court settlement with the Odisha government regarding "disputed electricity duty, interest on unpaid electricity duty and the duty on...
