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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On the 14-18 February 2016, at the TMS annual meeting and exhibition, where aluminium smelters and mining companies display their latest improvements and achievements, the Qatalum Anode Baking furnace was rated as the AP technology benchmarks, which means the best in the world for baking homogeneity and refractory status. Qatalum is one the few smelters in the world that uses baffle-less flue walls in its bake furnaces, an RTA (Aluminium Pechiney) technology, aimed to improve upon the traditional baffle flue walls used in most bake furnaces around the world. The excellence reflects Qatalum’s mission of creating a future of opportunities by setting the standard in operational excellence, therefore contributing towards Qatalum’s vision to be world class Aluminium Company. Carbon management...
Mr. Andi Rajender has been appointed as an Non-Executive Director (Additional Director) of Pennar Aluminium Company Ltd with effect from February 20, 2016. The Board has approved the same by passing a Board Resolution. Shares of PENNAR ALUMINIUM CO.LTD. was last trading in BSE at INR 0.37 as compared to the previous close of INR 0.38. The total number of shares traded during the day was 33800 in over 13 trades. The stock hit an intraday high of INR 0.39 and intraday low of 0.37. The net turnover during the day was INR 12546.
Gov. Jay Nixon announced on Tuesday, March 8 that $1.7 million in resources will be allocated to assist the nearly 850 workers impacted by layoffs at the Noranda Aluminum in New Madrid. These resources, made available through the Missouri Department of Economic Development and other partner agencies, will help impacted workers offset costs of utilities, housing, job placement training and tuition. “These layoffs have affected hundreds of Missouri families in the region, and we are committed to doing everything we can to help these workers transition and move forward,” Gov. Jay Nixon said. “The resources we’re announcing today will not only help these hardworking Missourians make ends meet, they will also help stabilize the local economy.” The Missouri Department of Economic Development...
Aluminium price has recovered strongly from its six-year low. The aluminium spot price on the London Metal Exchange (LME) fell to a six-year low of $1,423 per tonne in November 2015. The metal price has surged about 13 per cent from this low to the current levels of $1,604 per tonne. The strong economic data from the US has brought about a change in sentiment. Also, increased hopes for further stimulus announcements from China, the world’s largest consumer of this metal, is also providing support to the recent rally in aluminium price. On the domestic front, the aluminium futures contract traded on the Multi Commodity Exchange (MCX) has also risen sharply from its multi-year low of INR 93 per kg recorded in October 2015. The contract rose to a high of INR 111.3 in February and has come...
China’s aluminium shipments declined in February, reflecting weaker overseas demand, increased trade frictions and slowing domestic production. Exports of unwrought aluminium and products fell 26 per cent to 280,000 metric tons from the previous month, the smallest in two years, customs data show. The country’s total exports plunged 25.4 per cent in dollar terms from a year earlier, the most since May 2009. A slowdown in global trade is making it harder for the country’s leaders to keep growth in the targeted 6.5 per cent to 7 per cent range. China, the largest producer of aluminium, has boosted exports as the weakest growth in a generation slowed demand at home. The surge in shipments has pushed down world prices and spawned trade tensions from the US to Europe and India. “Economies are...
UC RUSAL, a leading global aluminium producer, has announced its results for the year ended 31 December 2015. Total revenue decreased by USD677 million or by 7.2 per cent to USD8,680 million in 2015 compared to USD9,357 million in 2014. The decrease in total revenue was primarily due to the lower sales of primary aluminium and alloys, which accounted for 83.9 per cent and 83.6 per cent of UC RUSAL’s revenue for the years 2015 and 2014. Revenue from sales of primary aluminium and alloys decreased by USD544 million, or by 7.0 per cent, to USD7,279 million in 2015, as compared to USD7,823 million in 2014, primarily due to 9.8 per cent decrease in the weighted-average realized aluminium price per tonne driven by a decrease in the LME aluminium price, as well as a decrease in premiums above...
Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium smelter, today, March 07, 2016 welcomed a high level delegation from the Indonesian parliament, headed by Member of the House of Representatives of the Republic of Indonesia, Asep Maoshul. The meeting was held at the Alba’s Al Dana Hall where the delegation was welcomed by Alba’s Chief Financial Officer, Ali Al Baqali, Chief Marketing Officer, Khalid Latif and Acting Chief Operations Officer, Amin Sultan. Speaking about this visit, Alba’s Chief Financial Officer, Ali Al Baqali said: “We are pleased to receive the Indonesian delegation and discuss various matters related to industry and commerce between the two countries. As one of the key pillars of Bahrain’s economy, it was a privilege to share Alba’s...
The Shanghai Futures Exchange (SHFE) recently approved 12 warehouses from eight companies for aluminium delivery. The latest move by the SHFE will help facilitate hedging business for local aluminium smelters and processors, as well as reduce aluminium delivery costs, SMM aluminium analyst Liu Xiaolei said. Every coin has two sides, though. Some aluminium smelters expressed concerns that production costs for deliverable aluminium will be 10-20 yuan per tonne higher than those for non-deliverable aluminium, due to high requirement on deliverable aluminium’s packaging, quality, etc. Smelters are more concerned with whether the price spread between deliverable and non-deliverable aluminium could offset additional production costs for the former. Market players see a high possibility that the...
About 33 per cent of the 33 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 breaking through USD 1,600/mt, citing positive factors. First, the PBOC’s RRR cuts stimulated home sales in first-tier cities, and home prices in second-tier cities followed up. This will brighten demand outlook for aluminium windows and doors, etc. Second, alumina prices have risen from RMB 1,661/mt at the end of last year to current RMB 1,855/mt and on track for more gains, adding to aluminium costs. Third, aluminium stocks in China’s three major markets were flat with a week ago as consumption recovers. Fourth, technical side is positive for SHFE aluminium. Another 56 per cent see SHFE 1605...
SMM monthly Aluminium MMI rose to 73 points in March, its highest reading in four months. After a period a period of price stability, aluminium prices are finally showing the first signs of strength, thanks in part to a weaker dollar in February. In their monthly outlook SMM has already recommended subscribers to buy up in volume. So what is suddenly causing this strength in aluminium prices? First, SMM reminds that aluminium prices are still near historical lows. This price bounce comes after significant declines in previous months and, not only aluminium, but all base metals have risen in price recently. However, some indicators within the aluminium industry are giving aluminium producers some reasons to become more optimistic. China’s exports and production down In January, China...
Bahrain Mumtalakat Holding Company ("Mumtalakat"), the investment arm of the Kingdom of Bahrain, today announced the successful acquisition of a 49 per cent equity stake in Asturiana de Aleaciones S.A. ("ALEASTUR"), a Spanish-based manufacturer of aluminium grain refiners and master alloys. Established in 1985 in Spain, ALEASTUR is specialised in the manufacturing of aluminium grain refiners and master alloys, mainly in rod form and ingots. Since its inception, the Company has evolved into one of the leading aluminium grain refining players in the world with an international presence and a diverse distribution base of over 700 customers across 70 countries. This transaction demonstrates Mumtalakat’s continued commitment to further develop the Kingdom’s downstream aluminium sector and to...
A ship carrying three thousand tons of aluminium from Rio Tinto Alcan in Straumsvík will leave harbor this afternoon, headed for the Netherlands, despite the limited strike meant to prevent all shipping of aluminium from the harbor. Ólafur Teitur Guðnason, spokesperson for Rio Tinto Alcan, says that’s the bulk of the aluminium which the company had planned to ship, RÚV reports. The labor dispute between workers of Rio Tinto Alcan and company management continues. A labor court had ruled the shipping ban legal, but management stepped into the jobs of the striking workers, making the shipment possible. Tuesday night, the Reykjavík Sheriff ruled that 15 people in management at the aluminium smelter had the right to participate in loading the ship. The union had argued that only two people in...
LME aluminium will gather more rising steam this coming week on positive sentiment in Chinese market, SMM sees. Expectations for demand recovery in Chinese aluminium market will drive LME aluminium up to challenge resistance at $ 1,600 per tonne. The first half of the year will not see massive restarts of idled aluminium capacity and commissioning of new aluminium capacity in China. So, supply will remain tight for the near term. Spot discounts in China are expected at 80-40 yuan per tonne over SHFE 1603 aluminium contract, with suppliers holding back goods at lows.
Aluminium Association of India (AAI) will approach the Ministry of Mines for the revival of Aluminum Development and Promotion Council, its newly elected President Tapan Kumar Chand has said. "We are in an important phase of growth for the sector. We will emphasize on development of downstream Industries to go along with primary metal producers," Chand said in his address to the AAI Governing Council meeting here. Chand, who is the Chairman and Managing Director of NALCO, was elected as Honorary President of AAI at its Governing Council meeting held here yesterday, according to a release by the Association. He said they would also press for the revival of Development Committee on Aluminium Utilisation. The Aluminium industry wants the government to declare the sector as a "Core Industry"...
Procurement at Qatalum begins mandatory e-services for tender acquisition from March 1, 2016. Although in use by many of Qatalum’s suppliers and contractors for over 9 months, on the 1st of March 2016, Qatalum officially announces the launch of its electronic tender system, an online tender payment platform with the use of credit cards. The platform allows the download of Qatalum public tender documents. Effective from March 1, 2016, Qatalum will no longer accept cash payment receipts against tender fees nor continue its previous manual issuance of public tender documents. All suppliers and contractors are kindly requested to complete their online registration and start using the online tender fee payment system. Qatalum reserves its full right of not issuing public tender documents for...
CME Group is expanding its base metals offering with the introduction of a new Aluminium European Premium Duty-Paid (Metal Bulletin) futures contract to begin trading on 21 March, 2016. Pending relevant regulatory review periods, the new contract will be available for trading on CME Globex, for submission for clearing through CME ClearPort, and will be listed with and subject to the rules and regulations of COMEX. "This new contract complements our existing regional aluminium premium futures contracts, and will enable a broader and more diverse set of our European customers to hedge their exposure to the aluminium premium," says Young-Jin Chang (pictured), CME Group Executive Director of Metals Products. "Our new Aluminium European Premium Duty-Paid contract responds to commercial...
LME aluminium may rise to $1,641 per tonne, as it has broken a resistance at $1,585. The resistance was provided by the 23.6 percent Fibonacci retracement on the fall from the Nov. 6, 2014 high of $2,078.75 to the Nov. 23, 2015 low of $1,432.50. The next resistance will be at $1,641, the 38.2 percent Fibonacci retracement on the fall from the May 6, 2015 high of $1,977 to $1,432.50. A drop to $1,575 could signal the break above $1,585 was false, and the support at $1,561, a 23.6 percent retracement, will be tested.
Hindalco Industries jumped 5.95% to INR 79.25 at 15:15 IST on BSE, with the stock extending recent gains after the finance minister in Union Budget 2016-17 hiked customs duty on primary aluminium and other aluminium products to check rising imports. Meanwhile, the BSE Sensex was up 335.16 points, or 1.38%, to 24,578.14. High volumes were witnessed on the counter. On BSE, so far 25.96 lakh shares were traded in the counter, compared with an average volume of 13.45 lakh shares in the past one quarter. The stock hit high of INR 79.75 and low of INR 75.55 so far during the day. The stock hit a 52-week high of INR 161.10 on 4 March 2015. The stock hit a 52-week low of INR 58.85 on 12 February 2016. The stock had outperformed the market over the past one month till 2 March 2016, gaining 9.04%...
