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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Pinning hopes on the Narendra Modi government for policy reforms to attract investment, mining baron Anil Agarwal on Friday said India has the potential to become the "engine of global economic growth". "As the world is changing, the Indian government... should move towards faster decision-making, creating level playing field for the investment... If anyone can help India realise the great potential it is our Prime Minister Modi and his government," Vedanta Resources chief Anil Agarwal said on the sidelines of the global CEOs' meet here. Stressing that India needs at least 10 more companies on par with natural resources giant Vedanta, Mr Agarwal said companies that want to invest in India can raise capital in the UK to invest in India's growth story. "India has all the potential resources...
Eastern Province Emir Prince Saud Bin Naif inaugurated the Arab International Aluminum Conference (ARABAL) at Dhahran Exhibition Center in Dammam Sunday in the presence of Petroleum and Mineral Resources Minister Ali Al-Naimi, CEO of Ma’aden Khaled Bin Saleh Al-Mudaifer, leading businessmen, top ranking officials and prospective investors. The three-day conference is organized and hosted by Ma’aden. In his inaugural remark, Prince Saud Bin Naif congratulated Ma’aden for making big stride in mining and aluminum sector he said Ma’aden symbolizes unprecedented growth of the industrial sector in the Kingdom and also the wise policies of the architects of the country to diversify from the oil sector. He welcomed the delegates of the conference and hoped that their deliberations will further...
The second of three previously announced natural gas replacement projects licensed by Tianwo-SES Clean Energy Technologies Company Joint Venture in China and under construction for Aluminum Corporation of China Ltd has entered the commissioning phase. Members of Synthesis Energy Systems’ Zao Zhuang New Gas Company Joint Venture are onsite at the new facility, located in Xing County, Shanxi Province, to support the commissioning and startup. Initial syngas production from Shanxi's single SES Gasification Technology (SGT) system is expected to commence later this month. "I am pleased to see continued progress at all three CHALCO projects. The Shanxi project is proceeding as planned and progress continues at the Zibo City facility, which is currently operating at full capacity during its...
Leading aluminium producer Aloca plans to decommission MV Portland, the ship used until now for domestic supply chain. Citing the parlous state of aluminium industry, the company said it was a strategic decision ahead of 2017, when operating life of Portand comes to an end. Cost to keep it operational would mean Alcoa will have to pump in millions of dollars. For the company, which announced to idle three smelters in the United States on November 2, doing that will be rather illogical even if that means taking on Australian labour unions and governmental authorities. "The global aluminium industry is facing very challenging market conditions," an Alcoa spokesman notes. "In Australia, our focus is on reducing operating costs and improving productivity to help all our facilities remain...
Emirates Global Aluminium (EGA) will meet with leading industry professionals at the upcoming Arab International Aluminium Conference (ARABAL) which takes place from 15 to 17 November in Dammam, Saudi Arabia. The premium trade event within the Middle East aluminium sector, ARABAL provides a platform for regional produceINR to engage in topical discussions and strengthen industry ties. This year, ARABAL will focus on the integration of the aluminium upstream and downstream sectoINR in the GCC, with EGA representatives among the line-up of speakers. Abdulla Kalban (MD & CEO) will participate in the opening industry keynote panel on "The prospects for the GCC aluminium sector", exploring the opportunities for the downstream sector in particular. Later in the programme Dr Ali Al Zarouni...
Tensions continue to mount among US producers of aluminum over the rise of imports from China. Despite weak commodity demand, Chinese producers continue to feed the production glut. As a consequence, aluminium prices are at their lowest levels in six years. Recently, Aluminium Corporation of China announced its plans to not shutdown a smelter, after it was able to secure a deal for lower electricity prices from the local government. It is apparent that Chinese production will not be hindered by low production prices, any time soon. US producers blame China for low prices. They contend that the continuous increase in aluminium supply is the primary driver behind depressed prices. Century Aluminum Co. has tried to reduce supply through cuts in its production, however Chinese counterparts...
China’s surging exports of aluminium are becoming as contentious as its fast-rising shipments of steel as prices of the metal used in cars to beverage cans continue to hover just above their six-year low. Despite a dip last month, China’s aluminium exports are up 14.4 per cent so far this year, according to official data, as companies there take advantage of their ability to produce at a lower cost than international rivals to seize market share. While major aluminium companies like US-based Alcoa have cut production this year, Chinese output has risen by 18 per cent year to date, according to the International Aluminium Institute, a supply flood that has helped keep prices depressed. Benchmark three-month aluminium futures were trading at around $US1492 a tonne on the London Metal...
The state-run aluminium maker NALCO today reported a 33.78 per cent decline in its net profit to INR 226.14 crore for the quarter ended September 30. The National Aluminium Company (NALCO), a Navratana CPSE under the administrative control of Ministry of Mines, had clocked a net profit of INR 341.52 crore in the year-ago period, it said in a BSE filing. The total income of the aluminium producer fell by 9.04 per cent to INR 1,815.11 crore in July-September quarter of the current fiscal against INR 1,995.52 crore in the same quarter of 2014-15. Total expenses of the company during the quarter under review fell to INR 1,583.06 crore from INR 1,624.98 crore in the year-ago period. Net sales, of the Bhubaneswar-based firm from aluminium, fell to 1,150.58 crore in the September quarter of...
UC RUSAL, a leading global aluminium producer, announces its results for the three and nine months ended 30 September 2015. Key highlights • In the third quarter of 2015 London Metal Exchange (“LME”) aluminium price continued its sharp decline and reached an average of USD1,589 per tonne, recorded low since the second half of 2009, demonstrating a 20.0% decrease compared to USD1,987 per tonne in the third quarter of the prior year. This negative trend was compounded by significant decrease in the realized premiums over the LME aluminium price down to an average of USD206 per tonne in the three months ended 30 September 2015, 51.2% lower than USD422 per tonne in the third quarter of 2014. • However, the Company managed to withstand the negative industry environment and record an Adjusted...
China is showing no signs of slowing down on exports. Surging shipment volumes of aluminium off the Chinese ports are becoming contentious while prices of the metal used in automobiles to beverage cans continue to hover just above their six-year low. Despite a dip last month, China’s aluminium exports are up 14.4% so far this year, according to official data, as companies there take advantage of their ability to produce at a lower cost than international rivals to seize market share. While major aluminium companies like U.S.–based Alcoa Inc. have cut production this year, Chinese output has risen by 18% year-to-date, according to the International aluminium Institute, a supply flood that has helped keep prices depressed. The major factors playing crucial for the smelters to stay...
Aluminium prices in China, presently the biggest exporter of the metal across global markets, are nowhere near bottom even when they are now just one step to 10,000 yuan per tonne. Despite spurious production cuts here and there, the country’s aluminium output has been hitting new highs. China produced 21.07 million tonnes of aluminium during January-August, a 12.2% jump from a year ago, data from the China Non-Ferrous Metals Industry Association (CNIA) showed. It is learned from industry sources that power tariffs for aluminium smelters in Gansu, Ningxia and Qinghai will be pared down from 0.35-0.37 yuan/Kwh to 0.25 yuan/Kwh, equating to 1,300 yuan cost savings per tonne of aluminium produced. Power tariffs at most Chinese aluminium smelters averaged over 0.35 yuan/Kwh in October....
Noranda aluminium Holding Corporation reported results for third quarter 2015. Sales were $309.5 million in third quarter 2015, $332.7 million in second quarter 2015 and $361.4 million in third quarter 2014. Sequentially, sales decreased $23.2 million, or 7.0%, primarily due to the lower average Midwest transaction price and lower external shipments at Primary partially offset by higher external shipments at Alumina. Other financial highlights: • Cash and cash equivalents totaled $8.9 million and total available liquidity was $112.7 million as of September 30, 2015 • Excluding special items, loss per share was $3.87 loss versus a $0.32 loss per share in third quarter 2014; reported loss per share was $17.49 versus a $0.40 loss per share in the third quarter 2014 • Average realized Midwest...
Aluminium Bahrain B.S.C. (Alba) announced the release of its third quarter of 2015 results on Wednesday, November 11, 2015. Alba’s total sales for the third quarter of 2015 were BD 184.4 million (US$ 490 million) versus BD 223.2 million (US$ 593 million) for the same period in 2014, a drop of 17% YoY due to lower LME prices. For the nine months of 2015, total sales totalled BD 590.3 million (US$ 1.57 billion), a decrease of around 2% YoY versus BD 599.6 million (US$ 1.60 billion) for the same period of 2014. Net Income for the third quarter of 2015 dropped by 70% YoY to BD 8.7 million (US$ 23 million) versus BD 29.5 million (US$ 78 million) for the same period in 2014 due to lower LME prices. The company posted a Net Income of BD 75.7 million (US$ 201 million) for the nine months of 2015...
The United Steelworkers union, which represents workers at several U.S. aluminum smelters that will reduce or shutter production in the coming months, lent its support on Monday to a Century Aluminum campaign against cheap Chinese exports. USW, largest industrial union in North America with 1.2 million active and retired workers, joins China Trade Task Force (CTTF), a recently-launched pressure group supported by Century Aluminum, controlled by Glencore Plc. "We join the CTTF in calling on the administration to present the Chinese government with a simple choice: either remove your illegal subsidies on aluminum or face swift retaliation," USW International President Leo Gerard said in a statement Until USW announcement, Century had been sole member of task force formed to voice protests...
The standalone performance of Hindalco Industries, controlled by Indian billionaire Kumar of the metal, for the September quarter was impacted by a fall in the price of aluminium, a business which accounted for over 40% of revenues and nearly half of profits last fiscal. Profit rose to INR 1.03 billion ($15.5 million) for the quarter to September 30, from INR 788 million a year earlier, the Mumbai-based company said in a statement Tuesday. Analysts had expected a loss of INR 1 billion. Revenue increased 4% to INR 89.25 billion, despite a sharp drop in prices and realizations, as the company ramped up production at its new factories. Producers such as Hindalco and billionaire Anil Agarwal's Vedanta are grappling with an influx of cheap imports from China and the Middle East amid falling...
Pioneering research to reduce pollution from the production of aluminium has earned Professor Margaret Hyland of the University of Auckland’s Faculty of Engineering this year’s Pickering Medal from the Royal Society of New Zealand. She is the first woman to receive the award. Professor Hyland and her research team developed new technologies that are now used by the aluminium industry around the world to cost-effectively reduce gaseous and particulate emissions from aluminium smelting including fluorides. These emissions are harmful to human health and the environment, with fluoride emissions in particular a focus for engineers because of its effects on human health and the environment. Professor Hyland’s work on capture of fluorides contributed to new understanding of the sources and...
Aluminium settled up 1.66% at 100.95 after London Metal Exchange (LME) data showed 99,500 tonnes of the metal was booked to leave warehouses in Vlissingen. LME prices jumped 1 percent to finish at a two-week high of $1,523 a tonne despite fundamentals remain poor due to oversupply. While a strong US dollar due to expectations for US rate hike kept the aluminum prices in check. The total set to leave LME warehouses is now equivalent to 45.5 percent of the 3.01-million-tonne headline stock figure. The U.S. Department of Labor said in its October national employment report that nonfarm payrolls surged by 271,000 last month, significantly above expectations for a consensus gain of 190,000. The sharp gains marked the largest increase in U.S. nonfarm jobs since last December. Private payrolls...
Alcoa’s latest aluminum-making cutback is signaling the end of an iconic American industry. For 127 years, the New York-based company has been churning out the lightweight metal used in everything from beverage cans to airplanes. Now, with prices languishing near six-year lows, it’s wiping out almost a third of domestic operating capacity. If prices don’t recover, the researchers predict almost all U.S. smelting plants will close by next year. While that’s a big deal for the U.S. industry and the people it employs, it doesn’t mean much for global supplies. Alcoa’s decision to eliminate 503,000 metric tons of smelting capacity accounts for about 31 percent of the U.S. total for primary aluminum, but less than 1 percent of the global total. For more than a decade, output has been moving to...
