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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The UAE’s exports of aluminium to Japan rose 41 per cent last year, making it the largest supplier of the metal from the Arabian Gulf last year, according to the latest trade figures from Jetro Dubai. Overall two-way trade between the two countries, however, rose a marginal 0.54 per cent to $51.29 billion last year from $51.01bn in 2013. Japan’s exports to the UAE gained 12 per cent in 2014 and imports fell slightly amid a price in the drop of crude. Japan bought $730.9 million worth of aluminium from the UAE in 2014, versus $517m the previous year. The metal has been at the forefront of the UAE’s efforts to diversify the economy from being overly reliant on hydrocarbons. That has become especially urgent after crude oil lost half its value last year amid an increase in supply from North...
Sustainability and transformation vital to support the development of Aluminium industry. The new Environment Protection Law (EPL) puts the focus on green technologies and equipment at Aluminium China 2015 in July, Asia’s leading industry showcase for the complete aluminium supply chain. The strict new environmental regulations force aluminium production and manufacturing companies to eliminate high-consumption and high-pollution, through investment in low-carbon development and energy conservation. The EPL came into effect on 1 January and is China’s first attempt to harmonise economic and social development with environmental protection and is seen as the most progressive and stringent law in the country’s history of environmental protection. It details harsh penalties for offences such...
UC Rusal, a leading global aluminium producer, announces its operating results for the first quarter 2015 (“1Q15”). Key highlights • 1Q2015 total aluminium output amounted to 900 thousand tons (-2% QoQ and +2% YoY). The company maintains production discipline in accordance with the previously provided guidance. • 1Q15 sales volumes amounted to 942 thousand tons (+7.7% QoQ). The company increased sales last quarter to compensate for shipment delays caused by port weather conditions in October-November 2014. • The average realized price went down 5.7% QoQ to $2,282/t driven by lower LME cash price and declining physical premium across key export markets. • RUSAL volume of alumina production remained flat at 1,808 thousand tons in 1Q15 (-1% QoQ). • RUSAL bauxite production amounted to 3,124...
Rio Tinto releases solid first quarter production performance 21 April 2015 Rio Tinto chief executive Sam Walsh said “We continue to drive efficiency in all aspects of our business, which is reflected in our solid production performance during the first quarter. By making best use of our high quality assets, low cost base and operating and commercial capability our aim is to protect our margins in the face of declining prices and maximise returns for shareholders throughout the cycle.” Below are the highlights of Rio Tinto’s first quarter production performance for aluminum section: Bauxite Bauxite production set a new first quarter record and was four per cent higher than the first quarter of 2014, primarily due to a strong performance at Weipa which continued to ramp up. Production from...
Xinjiang decided to cut power tariffs by an average 0.093 yuan (1.5 cents)/Kwh for local industrial and commercial power users, starting on April 15, 2015, China Securities reported. The cut is more than five times sharper than the national average cut of 0.018 yuan/Kwh. Rich coal resources allow power tariffs in Xinjiang to be lower than the rest of the country. This, together with the recent power tariff cuts, will substantially cut power costs for aluminum smelters in Xinjiang, which drives nearly half of the growth in China’s new aluminum capacity, China Securities added.
Just months after a Rs 22,600-crore disinvestment in the company, Coal India Ltd (CIL) is back in the reckoning for another stake sale, with the government considering selling five per cent in the public sector giant this financial year, it is learnt. The move will reduce the Centre’s stake in the company to 75 per cent, as mandated by the Securities and Exchange Board of India. At current market prices, selling five per cent stake could fetch the government Rs 12,000-13,000 crore. This could go a long way in helping the Centre meet its disinvestment target of Rs 41,000 for FY16. Senior government officials say if there is a major gap between the disinvestment target for this year and the realised proceeds by the end of October, the finance ministry’s disinvestment department might seek a...
Surcharges for physical aluminium in Europe have spiralled down by nearly half, good news for industrial consumers such as beer can makers which had bitterly complained about warehouse backlogs of up to two years for delivery of the metal. The unraveling of financing deals at warehouses, together with heavy Chinese exports, has unleashed a glut of aluminium, while demand remains poor. Premiums paid over the LME cash price were mostly quoted in a range of $250-$290 a tonne for duty-paid material in Rotterdam. That is a fall from premiums of $370-$390 in early March and about half the levels at a peak of $500 in November 2014. "It's going down very fast and I don't know where it's going to stop," said one trader, who added that there were some deals with premiums as low as $230. "If you...
Aluminium settled flat as the US offered a mixed bag of economic data. US inflation data were basically in line with market expectations, but the Conference Board’s Leading Economic Index missed forecasts. Michigan University’s consumer confidence index was positive. Meanwhile, production of primary aluminium reached a record 2.56 million tonnes in March, up from the previous high of 2.18 million tonnes hit in December 2014. Output rose 8 percent year-on-year. In the first quarter, aluminium production climbed 7.5 percent on-year to 7.51 million tonnes. China Merchants Futures has estimated China will add 4.3 million tonnes of annual aluminium capacity this year, with the bulk in the first and fourth quarters. German Finance Minister Wolfgang Schaeuble refused further concessions to...
Bahrain's overall imports soared by 15 per cent last month compared with January and February, a report said. National origin exports registered an increase of 15 per cent in February compared with January, but remained stable last month, according to the report in the Gulf Daily News, our sister publication. Re-exports soared by 24 per cent in February compared with January, rising by 3 per cent last month compared with February. These updated figures were released by the Central Informatics Organisation (CIO) in its quarterly report. Bahrain imported goods worth BD1.1 billion ($2.9 billion) in the first quarter of this year 68 per cent of which came from top 10 exporting countries. China topped the list as the volume of Chinese-made goods imported by Bahrain averaged BD156 million,...
Two years after receiving a $30 million handout from taxpayers the Tiwai Point aluminium smelter is "squarely in the black", says an industry analyst. The smelter, which employs more than 3000 people in Southland, had claimed its future was in doubt as it sought to cut the price of its electricity supplies through a contract with Meridian Energy. In analysis published to clients in March, Woodward Partners head of research John Kidd said the smelter was now in a much stronger position than it was in 2013. "Most external value drivers have moved firmly to the smelter's favour," he said, particularly prices for its high quality aluminium and the exchange rate against the US dollar. He estimated the changes would lead to operating profits for the business of $157 million and $233m in 2014...
Emirates Global Aluminium (EGA) will appear alongside key players in the energy and environment sectors as a strategic sponsor of the 17th Water, Energy, Technology and Environment Exhibition (WETEX), which takes place from 21 to 23 April at the Dubai International Convention and Exhibition Centre. This is the fourth consecutive year of EGA's involvement in and support of the event, having previously participated as a strategic sponsor through Dubai Aluminium (DUBAL also known as EGA Jebel Ali), one of its core operating subsidiaries. As in prior years, EGA will leverage the opportunity to share best practice with exhibitors from around the world, by showcasing its in-house technologies and providing insight into the company's environmental strategies. WETEX 2015 will focus on...
The latest report by India Ratings(Ind-Ra) says the operating profitability of domestic aluminium players will remain stable in FY16. The agency expects the rupee-dollar exchange rate to marginally weaken and hover around INR63/USD, helping export sales realisation. The on-going coal blocks auctions would substantially determine the direction of profitability, given as major players have captive power plants. The agency does not expect the low aluminium price levels of sub USD1,689/ton observed in 2014 to be revisited in FY16. On the other hand, the price levels above USD1,900/ton may not be sustained for long, given global oversupply and high inventory levels. The agency expects LME prices to increase at a moderate pace in FY16. Ind-Ra expects the global aluminium demand to stabilise,...
Several members of the Missouri Public Service Commission appear to be leaning toward a slight reduction in the electric bills of the state’s largest energy The PSC hopes to decide on Ameren Missouri’s request for a rate increase by the end of the month, after almost a year of scrutiny. Along with the price Ameren customers will pay for electricity, several other policy issues need to be decided in the case, including the rate for Noranda, a southeast Missouri aluminum smelter. In a discussion on issues in the case this week, a majority of commissioners signaled they might consider a lower rate for the power-hungry aluminum smelter, Ameren’s largest electricity customer. However, it didn’t appear commissioners would go as low as Noranda wants. Noranda has been arguing it faces closure...
International industry players expect aluminium industry market worldwide to double within the next 10 years. Optimistic on growth prospects, participants at the ALUMINIUM MIDDLE EAST 2015, which concluded today, said with projects worth billions of dollars in the pipeline, the Middle East is among the key markets offering numerous attractive opportunities they are keen on tapping. The three-day ALUMINIUM MIDDLE EAST 2015 2015, organized by Reed Exhibitions witnessed many international companies announcing their expansion plans in the region, particularly the UAE. Participants at the expo said maintaining prices amid oversupply was among the key challenges and said new technology was playing a major role in generating cost efficiencies as well as driving demand. "I believe the market will...
Alcoa reports business update for First Quarter 2015. On April 8, 2015, Alcoa reported strong 1Q15 profits, demonstrating that the Company’s strategy of building its value-add portfolio and creating a globally competitive commodity business is fully on track. The company also continued with creating sustainable value for its shareholders. Net income increased in 1Q15 to $195 million, or $0.14 per share, including $168 million of special items that were primarily restructuring-related charges. Excluding the impact of special items, net income more than tripled year-over-year to $363 million, or $0.28 per share, in 1Q15. Total Company revenues for 1Q15 rose 7% to $5.8 billion, from $5.5 billion in 1Q14. The revenue increase resulted principally from organic growth, driven by strong...
China's exports of aluminium products have continued to surge, a trend that if continued may push the rest of the world toward a surplus. China's exports of primary, alloy and semi-finished aluminium grew by around 43 percent in the first quarter over the same period last year, according to preliminary customs data released on Monday. While the initial data release doesn't provide the detailed breakdown, figures for January and February show that the overwhelming share is semi-finished products, such as bars, rods, wire, plates, sheet and foil. In the first two months of the year, exports in this category, commonly known as semis, surged 91 percent to 770,000 tonnes, a trend that will almost certainly be continued when the detailed March figures are released later this month. Exports of...
The managing director of Iranian Aluminium Company has said launching of anode manufacturing factory would bring $ 54mn to the economy in saving costs of import. Hamid Badkoubeh told a press conference on Tuesday that construction of the anode manufacturing unit would be started in late May in Kheirabad and would produce 100K tons of aluminium anode to provide Iran’s Aluminium Complex demands for anode and cut the dependence on imported anode. “With each ton of aluminium anode having a price of $600, the unit will bring the country $54mn in saving costs of imports; the unit will be completed by 24 months and will incorporate the most up-to-date technology and facilities,” he added. Badkoubeh also said that China and Russia would suffer losses with the unit operating, since these two are...
JW Aluminum Company announced today that it has posted its 2014 Annual Report for the Year Ended January 3, 2015 on JW Aluminum’s secure investor website at 4:00 PM Eastern Time on Wednesday, April 15, 2015. The annual report is being furnished pursuant to the Indenture governing JW Aluminum’s Senior Secured Notes due 2017 (the “Notes”). The annual report will be made available to holders and beneficial owners of the Notes, qualified prospective investors in the Notes, and certain security analysts and market makers. JW Aluminum will post all of its annual reports, quarterly reports and current reports that are required to be delivered pursuant to the Indenture governing the Notes on JW Aluminum’s secure investor website maintained by Intralinks. JW Aluminum’s management will host an...
