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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BHP spin-off South32 has slashed its debt and sharply cut costs as it races to stay ahead of weaker earnings amid a slump in commodities prices. The company on Thursday posted drops in production across most of its businesses for the December quarter. South32 has already cut or suspended production at high-cost manganese ore mines in South Africa, as well as several aluminium smelters, but said it was ready to do more if needed to ride out the volatile market conditions. "Further decisive action will be taken as we seek to maximise short-term cash flow while preserving longer-term value," chief executive Graham Kerr said. The company said its net debt by the end of December stood at $US115 million ($A166.79 million), down from $US196 million three months earlier, and $US402 million at the...
Aluminium prices were down 0.55 per cent to INR 100.30 per kg in futures trade today as participants trimmed exposures amid weak global cues and sluggish demand in the domestic spot markets. At the Multi Commodity Exchange, aluminium for delivery in the current month eased by 55 paise, or 0.55 per cent, to INR 100.30 per kg in a business turnover of 363 lots. Similarly, the metal for delivery in February was trading lower by 50 paise, or 0.49 per cent, at INR 100.90 per kg in 22 lots. Marketmen said the weakness in aluminium at futures trade was mostly in tune with a weak trend at London Metal Exchange (LME) on renewed worries over global growth and muted demand at domestic spot markets.
Alcoa announced today that it is expanding its Investor Relations capability in preparation for the previously announced separation of the Company during the second half of 2016. Matt Garth, Vice President of Financial Planning and Analysis, will take on the additional leadership of Alcoa's Investor Relations group. Garth will be the primary point of contact for investors and analysts. Vice President Investor Relations Nahla Azmy, and Patricia Figueroa, Director Investor Relations, will report to Garth. Garth led Alcoa’s investor relations function from May 2009 to November 2010 before being promoted to Chief Financial Officer of Alcoa’s $3 billion global packaging business. He assumed his current role as head of Financial Planning and Analysis in September 2015.
New predictions pick the Tiwai Point aluminium smelter in Southland is likely to stay open, but possibly in a scaled-down form.The predictions come from utilities analyst Nevill Gluyas at research and broking firm First New Zealand Capital. There have been suggestions for years that the smelter would shut down because of low aluminium prices. It faced closure in 2013 but stayed on after winning a $30 million bailout from the government, and getting an undisclosed cut in the price it paid for its electricity from Meridian Energy. Then last year the smelter negotiated a new agreement until 2030.But this was open to early termination if needed, with 2018 being the possible shut-down date if conditions deteriorated. That left New Zealand's electricity industry with a huge headache, since the...
A novel rechargeable battery developed at MIT could one day play a critical role in the massive expansion of solar generation needed to mitigate climate change by midcentury. Designed to store energy on the electric grid, the high-capacity battery consists of molten metals (including molten aluminium) that naturally separate to form two electrodes in layers on either side of the molten salt electrolyte between them. Tests with cells made of low-cost, Earth-abundant materials confirm that the liquid battery operates efficiently without losing significant capacity or mechanically degrading-common problems in today's batteries with solid electrodes. The MIT researchers have already demonstrated a simple, low-cost process for manufacturing prototypes of their battery, and future plans call...
AluSolutions 2016, the only free exhibition and conference addressing sustainability challenges in aluminium production and processing, has announced Dr Fiona Solomon, Executive Director of the Aluminium Stewardship Initiative (ASI), as a keynote speaker. Dr Solomon brings nearly 20 years of experience in sustainability and corporate social responsibility to her role at the ASI and will present on how the industry can address the environmental, social and governance aspects of the aluminium value chain. Other speakers announced so far, include a representative from European Aluminium, Sustainability Consultant Melanie Williams, Graham Bruce from Taha International Corporation, as well as a representative from the Bureau for Middle East Recycling. The two-day exhibition, being held on...
St. Louis based energy utility service provider Ameren Missouri is in talks with the state lawmakers to help its largest customer, Noranda Aluminum find some way out to evade possible closure of its Southeast Missouri aluminum smelter, reported sources close to both the companies. The smelting facility buys roughly 10 percent of Ameren Missouri‘s power; hence, its closure would mean huge loss for the power utility as well. No wonder, the company has stepped in to find a solution to the situation despite the fact that they have never got along with Noranda Aluminum in Jefferson City. Sources say, Ameren is seeking changes in Missouri utility law that would give it more certainty when it files for rate increases. While no bill has been filed yet, it is reported that Ameren Missouri wants a...
National Aluminium Company NALCO will soon send an official team to Iran to explore setting up a smelter complex worth about $2 billion, its boss said, as world powers lift sanctions on Iran that had made negotiations difficult. NALCO Chairman Tapan Kumar Chand told Reuters on Monday that the ending of sanctions on Iran in return for the country's curbs on its nuclear programme could help the company finally move ahead with its long-held goal to set up a smelter there to make use of cheap gas resources. "It's a major bottleneck which has been cleared," Chand said. "As far as Iran is concerned they have already informed us that they are ready to receive the team." Cash-rich NALCO will also visit Oman and Qatar in the next two months to work out the best place to set up a...
Aluminium futures traded 0.30% higher at INR 100.75 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 influenced prices. At Multi Commodity Exchange, aluminium for delivery in January rose 30 paise, or 0.30%, to INR 100.75 per kg, in a business turnover of 304 lots. Metal for delivery in February was trading higher by 25 paise, or 0.25%, at INR 101.20 per kg in two lots. Analysts attributed the rise to a firming trend at the London Metal Exchange (LME) and pick up in demand at the domestic spot markets mainly influenced aluminium futures here.
Aluminium Bahrain B.S.C. (Alba), one of the leading aluminium smelters in the world, kicked-off the inaugural session of 2016 ‘Town Hall Meetings’ on January 14, 2016 at the Oasis Hall. Delivered by Alba’s Chief Executive Officer, Tim Murray, the 2016 ‘Town Hall Meetings’ will brief all employees about the Company’s performance in 2015 along with the expectations for 2016. The ‘Town Hall Meeting’ was a special initiative introduced by Murray in January 2014 to update employees on Alba’s performance and goals through presentations and interactive sessions. Speaking about this initiative, CEO Tim Murray said, “The Town Hall Meetings have become a tradition in our Company as a platform that provides a direct means of communication with our employees. Alba had a remarkable 2015 on many fronts...
The future of Tiwai Point aluminium smelter looks healthier. Amid falling alumina prices, global aluminium glut, and a weakening New Zealand dollar, this phenomenon indeed stands out as a milestone for the smelter owner, observe researchers in a recently published assessment note on the prospects for the New Zealand electricity sector this year. "Tiwai remains an uncertainty for the industry," the note says, with options to cancel existing electricity contracts triggering in April and January next year ahead of possible closure in early 2018 or a staged reduction in output. "Surprisingly perhaps, we think the risk of an early 2018 exit remains low despite bombed out aluminium prices," the note added. The smelter uses 13% of all the electricity generated in New Zealand. Its closure would...
Aluminium stocks in China fell at a slower pace as downstream consumption has softened. Aluminium stocks in China’s five major trading markets fell almost 40,000 tonnes each week on average in December, SMM data showed. However, average weekly decline was just about 5,000 tonnes in the first half of January. Some small and medium aluminium processors have closed early for the 2016 Chinese New Year holiday due in early February, hurting consumption of the light metal, SMM has learned. Aluminium smelters stepped up shipments to regions with massive production cuts, allowing stocks in major trading markets to continue falling, though. The table below shows details of aluminum stocks at China’s five major markets:
Lightweight metals leader Alcoa today announced it will delay the curtailment of its Intalco Works smelter in Ferndale, Washington until the end of the second quarter of 2016. The plant was initially scheduled to curtail by the end of the first quarter. The company announced a full curtailment of the Intalco smelter (230kmt) on November 2, 2015, with the plant’s casthouse continuing to operate. However, recent changes in energy and raw material costs have made it more cost effective in the near term to keep the smelter operating to provide molten metal to the plant’s casthouse. Once all announced curtailments and closures are complete, the company will have removed approximately 25 percent operating smelting capacity and approximately 20 percent of operating refining capacity by mid-2016,...
Aluminium Bahrain B.S.C (Alba), a prominent industrial company in Bahrain and one of the world’s leading aluminium smelters, received H.E. Mr. Alok Kumar Sinha, Ambassador of India to Bahrain today, January 18, 2016. Alba’s Chairman of Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa met with H.E. Mr. Alok Kumar Sinha, who was appointed in mid-2015 to his post in the Kingdom of Bahrain. The meeting was held to familiarise H.E. Mr. Alok Kumar Sinha with Alba’s pioneering role as the first smelter in the Middle East and its position as an industrial leader and an economic pillar of the Kingdom of Bahrain. Shaikh Daij thanked H.E. Mr. Alok Kumar Sinha for his visit and hailed the historic and outstanding relations shared between the two countries. He also expressed his keenness...
Norsk Hydro ASA, the Norwegian aluminium and renewable energy company announced yesterday that its fourth quarter results 2015 will be released at 07:00 CET (01:00 AM EST, 06:00 UK time), on Wednesday February 17, 2016. The quarterly report and presentation slides will be available on Hydro’s website at the same time. Presentation in Oslo According to the company sources, Hydro will host a combined analyst and press conference, in English, at its corporate headquarters at Drammensveien 260, Oslo at 08:30 CET the same day. The presentation will be held by President and CEO Svein Richard Brandtzæg and CFO Eivind Kallevik and can also be seen on web TV. Q&A / Conference Call There will be a conference call at 15:15 UK Time (16:15 CET, 10:15 AM EST,) the same day. The Q&A will be held by...
About 32% of the 25 Chinese aluminium smelters surveyed by SMM paint a dismal picture of aluminium prices this week. They are bearish that LME aluminium will fall below USD 1,465/mt and that SHFE 1603 aluminium will drop below RMB 10,600/mt, citing a series of negative factors: 1. Major Chinese aluminium smelters have announced plans to hoard aluminium from the market, but no action has been taken yet; 2. Downstream producers will begin closing early for the 2016 Chinese New Year holiday due in early February; 3. Global stock market remains weak. Chinese A-share market fell to 2847.54, a one-year low; 4. Crude oil prices will fall as sanctions on Iran are to be lifted soon; 5. US industrial output fell 0.4% MoM in December, triggering pessimism over US Q4 GDP. Another 48% expect SHFE 1603...
The 4th Iran International Aluminium conference (IIAC2016) with the motto "Aluminium, key to a sustainable industry" will take place on the 11-12 of May 2016. In this conference apart from promoting the aluminium industry, the upgrading of aluminium knowledge is also considered of vital importance. With these critical facts in mind, the deadline for full text entry has been set for the 30th of January. According to the scientific committee, about 220 abstracts have been received up to this point. Among the well-known names sponsoring this conference, "Fives" is one of the first to show interest. Also due to the importance of media relations in this conference, Aluminium International Today, Aluminium Times, Metals Market, Iran Mavad, and AlCircle along with a few other renowned media...
Rio Tinto released solid fourth quarter production results despite the challenging market conditions. Rio Tinto chief executive Sam Walsh said Rio Tinto remained focused on operating and commercial excellence against the industry's "challenging market backdrop". "In 2015, we delivered efficient production, meeting our targets across all of our major products, while rigorously controlling our cost base," he said. "We will continue to focus on disciplined management of costs and capital to maximise cash flow generation throughout 2016." Highlights for Aluminium Business • Continued strong performance in bauxite exceeded full year guidance of 43 million tonnes, with record third party shipments of 26.6 million tonnes. • Aluminium production was in line with 2014, with record annual...
