The most-traded SHFE aluminium contract opened at RMB 24,000 per tonne in the night session on September 28, reached a high of RMB 24,055 per tonne and a low of RMB 23,950 per tonne, and closed at RMB 24,000 per tonne, up RMB 50 per tonne or 0.21 per cent from the previous close. Futures stabilised after a sharp decline, with prices falling below the 5/10/20/40/60 moving averages across all timeframes, turning these averages from support into resistance. Trading volume during the session was 53,872 lots, with open interest at 271,000 lots, down 3,240 lots, driven mainly by bear position reductions. On the technical front, the 4-hour MACD death cross continued, with DIFF trading well below DEA and green bars expanding significantly, indicating strong short-term bearish momentum. On...
The conclusion of negotiations on the EU–India Free Trade Agreement creates a new context for Indian manufacturers considering the European market, but future opportunities will increasingly depend on regulatory preparedness as well as commercial competitiveness. Negotiations on the Free Trade Agreement were concluded in January 2026. Earlier this month, the European Commission submitted proposals to the EU Council for its signature and conclusion. The Agreement is not yet in force and remains subject to the required European and Indian procedures. For the Indian aluminium industry, the development comes at a time when access to Europe is increasingly shaped by environmental, product and supply-chain regulation. One of the most immediate examples is the European Union’s Carbon Border...
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Aluminium futures traded higher at INR100.20 per kg, largely in tandem with a firming trend in base metals at the London Metal Exchange (LME). Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery this month rose 15 paise to INR100.20 per kg in a business turnover of 183 lots. Metal for delivery in April also rose by a similar margin to trade at INR102.15 per kg in 10 lots. Market analysts said the rise in aluminium prices in futures trade was mostly due to a firming trend in base metals at the LME and rising demand at the domestic spot market here.
About 48 per cent of the 42 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1605 aluminium rising above RMB 11,500/mt and LME aluminium advancing above the 40-day moving average to USD 1,535-1,560/mt, citing positive factors. First, European and US economic recovery will cheer market up. A series of economic data from the euro zone, the UK and Germany are expected to be positive in March, and US exiting and new home sales were also upbeat in February. Second, it will become more difficult for Chinese aluminium smelters to get loans amid China’s supply-side reform in industries plagued by severe overcapacity. This will speed up retirement of outdated smelters and slow commissioning of new capacity and restarts of idled...
Aluminium at London Metal Exchange (LME) seems to have stabilised around a support at $1,509 per tonne and may either hover above this level for one day or rebound to a resistance at $1,545. The support and the resistance are identified respectively as the 61.8 per cent and the 38.2 per cent Fibonacci retracements on the rise from the January 12 low of $1,449 to the March 7 high of $1,605. A break above $1,545 could be unlikely, as the downtrend from $1,605 may eventually extend to $1,449. A break below $1,509 could cause a loss to the 76.4 per cent level at $1,486.
Most Chinese aluminium smelters have returned to profit-making territory at current aluminium prices , SMM statistics found. The weighted average full cost was 10,774 yuan per tonne at Chinese aluminium smelters in SMM’s survey’s sample in March. SMM calculates that about 2.36 million tonnes, or 7.95 per cent of operational aluminium capacity in China still suffered losses in cash costs in March when aluminium prices were at 11,000 yuan per tonne. Similarly, about 12.71 million tonnes, or 42.8 per cent of operational aluminium capacity in China still suffered losses in full costs when aluminium prices were at 11,000 yuan per tonne. SMM spot aluminium prices averaged 11,298 yuan per tonne in the week ending March 18, up 92 yuan per tonne from a week ago.
Emirates Global Aluminium (“EGA”), the largest primary aluminium producer in the region accounting for almost 50 per cent of the total primary aluminium production capacity in the GCC, adopts and – where relevant – develops, world-leading processes and technologies to produce the highest quality products possible. As well as developing advanced proprietary reduction technologies (such as DX+ Technology and DX+ Ultra Technology), one of EGA’s key priorities is to utilise home-grown technologies to support operational best practices that ensure worker protection, as well as energy and time efficiency. To ensure sustained technological development across all plant operations, the Technology Development & Transfer department at EGA has been mandated to innovate continuously in order to drive...
Aluminum prices will gain momentum from falling aluminum stocks in China’s five major markets, which have posted their first declines since after the 2016 Lunar New Year holiday. SMM sees SHFE 1605 aluminum challenging resistance at 11,500 yuan per tonne and spot discounts in China narrowing to 30-70 yuan per tonne. LME aluminum looks set to advance to $1,520-1,560 per tonne on the back of a softer dollar and rising crude oil prices.
Aluminium prices edged up 0.59 per cent to INR 101.90 per kg in futures trade today as participants enlarged positions, supported by strong demand in the spot markets amidst a positive trend in the base metals pack at the London Metal Exchange (LME). Aluminium for delivery in current month edged higher by 60 paise, or 0.59 per cent, to INR 101.90 per kg in a business turnover of 629 lots in futures trade at Multi Commodity Exchange. Likewise, the metal for delivery in April traded higher 45 paise, or 0.45 per cent, to INR 103.45 per kg in 64 lots. Marketmen said apart from increased domestic demand, a firming trend at the LME as the recovery in China's property market accelerated, triggering optimism of demand recovery in the world's biggest commodities consumer, helped aluminium futures...
The embattled Aluminium Smelter Company of Nigeria (ALSCON) in Akwa Ibom State is to begin production soon, its Managing Director, Mr. Dimitry Zavyalov, has said. He said this while briefing the Clan Head of Ikpa Ibekwe, Etebom Akpan Akpan and his council in Ikot Abasi. He said the company would bounce back, irrespective of the difficult period it is facing. “The Management of UC-RUSAL Aluminium Smelter Company of Nigeria (ALSCON), the new owners of ALSCON, will not relent in exploring available possibilities with appropriate authorities for ALSCON to come back to life,’’ he said He stressed the importance of aluminium and the technicalities involved. He said the production of aluminium products required professionals. Zavyalov, however, said only committed workers would be re-absorbed...
Traders pulling metal out of London Metal Exchange warehouses is not an uncommon practice. The amount stored in depots tracked by the world's biggest metals bourse has almost halved from a 2013 peak and is near a seven-year low. Aluminium along with a certain other non-ferrous metal has accounted for the bulk of the decline. Aluminium stockpiles have been falling as the LME tightens warehousing rules to prevent queues from building. Traders have also been moving metal outside of the network to benefit from cheaper storage charges, according to Societe Generale SA. Aluminium inventories now are near a seven-year low and more withdrawals are being speculated. Orders to remove metal surged 26 per cent on Thursday last week, on requests to get the commodity out of depots in Vlissingen, and...
State-owned aluminium major National Aluminium Co Ltd is planning to invest over INR 37,000 crore over the next 5-7 years for expansion of existing facilities, setting up of new smelter unit overseas, development of mines and diversification in power. Reducing expenses According to Tapan Kumar Chand, Chairman-cum-Managing Director, Nalco, the company is undertaking the investment plan to reduce operational expenses and to beat the depressed market realisations. “Over INR 37,000 crore will be spent over the coming 5-7 years. Focus will be on reducing costs of producing aluminium by achieving higher economies of scale,” the CMD told BusinessLine. Brownfield expansion and tie-ups with low power producers overseas is its two-prong strategy to wriggle out of “subdued market conditions.” The...
Aluminium on MCX settled down -0.68 per cent at 101.55 tracking weakness in LME three-month aluminium fell 0.3 per cent to $1,515 in cautious trade ahead of the outcome of a Federal Reserve policy meeting, which is expected to leave interest rates on hold but signal how quickly the bank may tighten this year. According to sources now the market for aluminium was balanced, there was a risk more capacity coming on line would snuff out the recovery. LME aluminium prices should remain at a level which keeps capacity idled - in our view around $1,400 a tonne, for the foreseeable future. China’s primary aluminium output fell significantly during the first two months of this year, data from the National Bureau of Statistics (NBS) showed. Output dropped 7.7 per cent year-on-year to 4.55 million...
Aluminum Corporation of China Limited (Chalco) moved back into profit in 2015 after a record loss in the previous year after the company cut costs, closed loss-making facilities and sold assets. The company's board also gave approval for the issue of debt instruments, including up to $1 billion worth of offshore bonds, it said in a filing on the Shanghai stock exchange on Thursday. The planned issues are still subject to shareholder approval. In 2015, Chalco posted a net profit of 206.3 million yuan ($31.84 million) versus a record net loss of 16.2 billion yuan in the previous year, according to the filing. Chalco, a state-controlled leading producer of primary aluminium and raw material alumina in the country, returned to the black despite a fall in domestic aluminium prices. The company...
JPMorgan Chase is holding more than half of the aluminium on the London Metal Exchange, a multibillion-dollar position that has rattled rival traders and raised questions in London’s tight-knit metal market about its influence on prices. The bank’s $2bn-plus physical stockpile of aluminium, which could cover 40 years of Coca-Cola’s current UK drinks can output, has been blamed by many traders for pushing up the price of near-term contracts that are about to expire, even though the industry is in its seventh year of a major supply glut. Big aluminium buyers, say the concentrated holding of at least 1.4m tonnes of aluminium stocks has distorted the supply outlook and made it more difficult to use the LME to protect against volatile prices. “If you looked at the LME without knowing anything...
Qatalum received several accolades and fitting recognition at Nashville this year. In particular was the baking furnace achievement and Qatari representation amongst the engineering peer group on issues related to the aluminium reduction process. Visited annually by more than 4,300 scientists and engineers, the TMS Annual Meeting & Exhibition is a top global showcase for the latest products and services in minerals, metals, and materials. This year’s TMS2016, also known as The Minerals, Metals & Materials Society Annual Meeting & Exhibition, took place from the 14 to18 February in Nashville, Tennessee. The event brought together business leaders, engineers, scientists and other professionals in the materials field for an outstanding exchange of technical knowledge leading to solutions in...
Indonesia hopes four new smelters will be completed in 2016, a mining ministry official said on Wednesday, as low commodity prices continue to create financial problems for the mining industry and shrink government returns. Indonesia banned metal ore shipments in early 2014 to encourage firms to build smelters and shift exports from raw materials to higher-value finished metals. But the ban cost the country, a major supplier of bauxite, billions of dollars in lost revenue. Dozens of smelter projects have been delayed as a result of the current downturn in commodity prices. "In 2016 we hope four additional smelters will be operational," Coal and Minerals Director General Bambang Gatot told reporters. They will process nickel, alumina and lead. The latest figure is around half of an earlier...
The company that plans to build an aluminium plant in Pineville that could employ more than 1,000 people has bought property for the project. Revolution Aluminum Propco LLC secured the property that formerly housed Pineville's International Paper mill. The startup plans to build its own mill on the property. Several other partner companies that will support the mill's operations are also expected to locate to the complex, which has been named Innovation Park. Together, the companies are expected to spend more than $1.5 billion and employ more than 1,000 people. "The hard work over the last year to make this day happen will pay off in huge opportunities for all of Central Louisiana," said Pineville Mayor Clarence Fields. "Revolution Aluminum and the other tenants of the park have the...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium producers, held its Annual General Meeting (AGM) on March 16, 2016 at Al Dana Hall, Aluminium Bahrain, Askar, during which approval was given to the distribution of cash dividends related to the fiscal year 2015. The total dividend for the fiscal year 2015 amounted BD 15.5 million (US$ 41.3 million), equivalent to 11 per cent of the nominal value of the company’s shares - which is 11 fils per share, of which 5.5 fils (interim dividend) has already been distributed to the shareholders in September 2015. The final dividend for 2015, equivalent to BD 7.8 million (US$ 20.6 million), will be payable from April 3, 2016 to Alba's shareholders of record as of March 16, 2016. In addition, audited financial statements for the...
Minister of Industry, Commerce and Tourism Zayed R. Al Zayani met a number of representatives of the manufacturing sector in the aluminium industry. They reviewed the latest developments related to this vital sector and its future developmental aspirations, especially in light of the facilities offered by the government to promote economic and industrial activities in particular. The minister expressed pride in the Bahraini private sector's support and considered it as a major partner in the national economy's progress and growth, adding that the ministry exert efforts in cooperation with the related authorities in order to facilitate the establishment of local or global investment projects, which will serve the national economy's best interest. The minister underscored the importance of...
