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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Buoyed by firming trend overseas and rising spot demand, aluminium futures rose by 1.24% to INR 101.75 per kg today as traders created fresh positions. At the Multi Commodity Exchange, aluminium for delivery this month moved up by INR 1.25 or 1.24% to INR 101.75 per kg in a business turnover of 554 lots. The metal for delivery in February contracts rose by INR 1.05 or 1.03% to INR 102.50 per kg in a business turnover of 161 lots. Market participants said besides rising demand at domestic spot markets, a firming trend in the base metals pack at the London Metal Exchange (LME) helped aluminium futures to trade higher.
Chinese aluminium imports in December 2015 was estimated at 4,478 mt, an increase of 141.13 per cent year-on-year, revealed data published by General Administration of Customs, China on January 26. This is in contrast with the annual primary aluminium import data which showed 42.86 per cent decrease year-on-year. Australia topped the list of the countries supplying primary aluminium to China, followed by Oman and the UAE, in the month of December. The Gulf country (UAE) supplied 17,758 mt of the white metal, used in making appliances to luxury automobile and spaecraft bodies, to China during the January-December period, marking a significant 134.35 per cent rise year-on-year. Aluminium shipments from India and Russia declined 57.72 per cent and 85.91 per cent year-on-year respectively...
Aluminium consumption in the country is slowly picking up in the backdrop of an increase in GDP to 7.3 to 7.5 % this fiscal. Growth in electrical & electronics sectors, construction, transport & automobiles are likely to trigger higher consumption, tough rising imports are a major concern for the industry, Nalco chairman T. K. Chand said recently. "We are passing through a difficult time. World aluminium market is sluggish and is in a slump cycle. Global aluminium production has out-passed consumption by 2.6%, making a surplus of roughly 1.4 million tonne in 2015. Slowdown in consumption in China has resulted in dumping of surplus production of that country in international market, making a steep fall in metal prices," Chand said. Incidentally, an average per capita consumption of 2.2 kg...
LME aluminium looks neutral in a range of $1,453- $1,511 per tonne, and an escape will point a direction. The range is formed by the 50 percent and the 23.6 percent Fibonacci projection levels of a downward wave C, the third wave of a three-wave cycle from the September 9, 2015 high of $1,655.50. It could be hard to conclude that the bounce from the January 12 low of $1,449 has extended or the drop from the December 24, 2015 high of $1,564 has resumed, until the metal leaves the range. A break below $1,453 could cause a loss to the 61.8 percent level at $1,426, while a break above $1,511 could lead to a gain to $1,531, the 14.6 percent level.
India’s National Aluminium Co. (NALCO) seems to be declaring it will, indeed join them. The state-owned aluminium producer is sending a team to Iran, Qatar and Oman to explore opportunities for setting up a gas-fired thermal power plant and associated aluminium smelter next month according a report in the India Times. NALCO has been looking at a $2 billion project to set up a smelter in Iran’s Kerman province, but sanctions meant it never got beyond the feasibility stage. Now, with sanctions lifted, the firm is exploring all locations in addition to the Iranian project probably with the intent that they can show the Iranians they have other options and negotiate a better deal. New Suitors India is reported by the Indian Aluminium Association (IAA) to have the world’s fourth-largest...
Aluminium stocks in China’s five major trading markets fell at a faster pace, SMM has learned. SMM attributes the decline to production cuts and downstream stocking before the 2016 Chinese New Year holiday in early February. Production cuts continued affecting aluminium ingot shipments from Northwest China and other regions into China’s major consumption hubs. Some warehouse owners expect arrivals to remain low this week, judging from short-term shipment plans. Aluminium stocks in China’s five major trading markets will continue falling this week, due to low arrivals and pre-holiday downstream stocking, SMM aluminium analyst expects. The table below shows details of aluminium stocks at China’s five major markets:
Workers at the aluminium smelter at Fort William have been told that the owners are reviewing its operations. The announcement from Rio Tinto said the review would include its assets in Lochaber. The plant is one of the largest employers in the area. It is thought to support more the 160 full-time jobs. The Scottish government said Highlands and Islands Enterprise was "engaging with the company" to understand the potential impacts of the announcement. The smelter is Rio Tinto's only operational site in the UK and is unique in that it generates its own power from two hydro electric schemes. One is in Fort William and the other at nearby Kinlochleven. The Fort William hydro-powered smelter has more than 160 employees. Around a quarter of them managers and technical specialists. It was...
Aluminium producers in India are looking to the US and other export markets with hope in the new year, after the double whammy of cheap Chinese imports and low prices for the silver -white metal for almost all of 2015. As in other countries, the overall global commodity free fall was the main cause of the mayhem for Indian producers. Aluminium prices dropped from a monthly average of $2,455 a metric ton in 2011 to the recent $1,468 per mt. A large number of Indian aluminium majors are now staring down capacity shutdowns and operational losses. Companies such as Vedanta have been negatively affected. What can save Indian aluminium? There are three factors aluminium producers are banking on: more and newer innovative uses of aluminium, especially by US companies, India’s economy improving...
Anil Agarwal, chairman of Vedanta Resources, has called upon the government to do everything to protect Indian metal industry from the ravages of indiscriminate foreign imports and help revive stalled manufacturing projects. In an impassioned plea to Prime Minister Narendra Modi and finance minister Arun Jaitley ahead of the budget, Agarwal said manufacturing has a multiplier effect on GDP and growth. "Investments made cannot be allowed to suffer. We can't keep them idle. The government should ensure that existing businesses are not on crutches and they don't start bleeding," he told ET in Davos. Vedanta has been forced to curtail aluminium production due to lack of bauxite availability and its iron ore business in Goa has been hurt by government-imposed export duty. Vedanta has also been...
The collective output of primary aluminium by the five GCC producers - Emirates Global Aluminium in UAE, Alba in Bahrain, Ma’aden Aluminium in Saudi Arabia, Qatalum in Qatar and Sohar Aluminium in Oman - stood at 5.27mn tonnes in 2015. This was seven per cent higher than in 2014. Sohar Aluminium’s total production in 2015 stood at 377,186 tonnes. “Record GCC output reflects the continuous improvements in efficiency and optimisation of resources,” said Mahmood AlDaylami, secretary general of the Gulf Aluminium Council. GCC aluminium production constitutes ten per cent of total global output and is considered one of the key economic drivers for the Gulf region, a press release said on Sunday. Nearly 40 per cent of the total production is utilised by the downstream aluminium industries in...
LME aluminium is expected to consolidate this week, SMM expects. Firm US dollar, depressed global stock market and falling commodity prices will keep LME aluminium in check between $1,470-1,500/mt. SHFE 1603 aluminium should move at 10,700-10,900 yuan per tonne, supported by tight supply in domestic spot market, but capped by selling pressure at highs. Inflow of deliverable goods will ease tightness in China’s spot market. Downstream stocking before the 2016 Chinese New Year holiday in early February will allow suppliers to hold offers firm. Spot premiums of 50-100 yuan per tonne are expected over SHFE 1602 aluminium.
AluSolutions 2016, the only free exhibition and conference addressing sustainability challenges in aluminium production and processing, is excited to announce confirmed speakers from Rio Tinto, Norsk Hydro and Schueco. Taking place on 10th – 11th May 2016 at the Abu Dhabi National Exhibition Centre, the AluSolutions conference will demonstrate how the aluminium industry is making continuous improvements in the environmental efficiency of producing aluminium, as well as its sustainability benefits in end-use applications. The second day of the conference (11th May) will host Dr Fiona Solomon, Aluminium Stewardship Initiative (ASI) Director, as keynote speaker. Dr Solomon brings nearly 20 years of experience in sustainability and corporate social responsibility to her role at the ASI and...
The Saudi Arabian Mining Company (Ma’aden) announces a net profit of SR605 million for the financial year 2015, a decrease of 55% compared to its 2014 financial net results. Speaking on these results, Ma’aden CFO Khalid Al-Rowais pointed out that the company has been impacted with the decline of commodity prices, specifically in the aluminium business. However, looking at the overall performance of the year, Ma’aden has achieved the highest production levels in a number of sectors including phosphate where production exceeded 2.6 million tons of phosphate fertilizer compared to 2.4 million tons in 2014. The company’s aluminium sales also reached 836,000 tons of aluminium compared to 663,000 in 2014 while its gold production jumped to 164,000 ounces compared to 154,000 ounces of the...
A team of engineers at Emirates Global Aluminium (EGA), the fifth largest aluminium producer in the world, has developed a unique cathode structure that could reduce operating costs at the plants significantly. Aluminium production is an energy-intensive industry, such that using less energy during the production process reaps a number of benefits – including lower operating costs and reduced emissions levels. Over the past 25 years or so, EGA has made substantial investments in developing technologies that ensure continuous improvements in the company’s operations, with energy-efficiency being at the top of the agenda. More recently, efforts have been launched to protect the company’s inventions through applications to patent EGA’s proprietary technologies. Since 2014, EGA has worked...
State-owned aluminium maker Nalco will send a team of officials to Iran, Qatar and Oman as early as next month to explore opportunities for setting up a gas-based thermal power plant and an aluminium smelter. Previously, the over $2-billion project was slated to come up at one of the specially designated economic zones in Iran's Kerman province, but could not materialise due to sanctions on the Persian Gulf nation, a source said. "Now as the sanctions have gone, Nalco will send a team to Iran to explore options for setting up the project by next month or March. They will also visit Oman and Qatar. Since we can get really cheap power in these countries, this will help bring down production cost," he added. It takes around $1,500-1,700 to produce one tonne of aluminium metal, with alumina...
Aluminium prices eased by 0.10% to INR 100.90 per kg in futures trade today as participants trimmed positions, tracking a trend at spot market on sluggish demand. At the Multi Commodity Exchange, aluminium for delivery in far-month February eased by 10 paise, or 0.10% to INR 100.90 per kg in business turnover of 44 lots. Likewise, the metal for delivery in January contracts weakened by 5 paise, or 0.05% to INR 100.10 per kg in 1032 lots. Anlysts said the weakness in aluminium at futures trade was mostly owing to slackened demand from consuming industries in the spot market.
Aluminium Bahrain B.S.C. (Alba)’s, one of the leading aluminium smelters in the world, is a key participant in the well-known international aluminium event - Aluminium Symposium 2016, taking place from January 20-22, 2016 in Florida, USA, under the theme ‘Outlook for Aluminum in 2016’. As one of the first international aluminium event for 2016, Alba’s participation in the Aluminium Symposium 2016 marks its continuous commitment to expand its reach across diverse territories. Alba’s Chief Marketing Officer, Khalid Abdul Latif, Manager Sales – Europe, Boris Santosi and Manager Sales – Alba Americas, Patrick Hudson, will represent the Company at this Symposium. Speaking about Alba’s participation, Alba’s Chief Marketing Officer, Khalid Abdul Latif said: “GCC aluminium production constitutes...
China's plans to set up funds to manage coal and ferrous metal capacity closures and stockpiling schemes offer nervous markets some clarity on the likely future make-up of the country's sprawling and predominantly state-run metals and mining industries. As the world's largest producer of aluminium, steel and other metals, and the biggest consumer of copper and iron ore, China is crucial to global metals markets which have slumped in the past year as Chinese industrial demand growth slowed. China's slowdown has hit revenue at global miners such as BHP Billiton and Rio Tinto, and the market is keen to know what China plans for its own state-run mining and metals giants - many of which have kept producing even as prices drop below the cost of production. After weeks of talks between...
