National Aluminium Company Limited (NALCO) expects revenue to reach INR 190-200 billion (USD 2.29–2.41 billion) in the current year, supported by higher alumina production and stronger aluminium prices, while an INR 250-billion (USD 3.01 billion) expansion programme is set to reshape its upstream, smelting and power capacities by FY31. The state-owned aluminium producer expects revenue to increase from approximately INR 178 billion (USD 2.14 billion) last year as its new refinery capacity lifts alumina production and higher aluminium prices support realisations. NALCO Chairman and Managing Director Brijendra Prasad Singh attributed the revenue outlook to these two factors. INR 250 billion capex to expand aluminium value chain NALCO is simultaneously advancing a INR 250-crore (USD 3.01...
According to SMM statistics, changes in aluminium ingot and aluminium billet (collectively referred to as aluminium inventory) inventories in major consumption areas in China around the National Day holiday, 2020-2026: overall destocking before the holiday, with the most concentrated inventory buildup during the holiday. During the one-week National Day holiday from 2020 to 2025, aluminium ingots, aluminium billets, and total aluminium inventory all saw inventory buildup (aluminium ingots up 4.0 per cent -17.3 per cent, aluminium billets up 12.7 per cent -66.0 per cent, total aluminium inventory up 6.9 per cent -21.2 per cent ). In the second week after the holiday, aluminium ingots did not see further inventory buildup except in 2021, while aluminium billets destocked in all six years....
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Scientists in the US have assembled the first ever optical rectenna - a device that’s part antenna, part rectifier diode (containing calcium and aluminium), and uses the functions of both to convert light into a direct electrical current. The device uses an array of aluminium oxide coated carbon nanotubes that function like tiny antennas to capture light, and from this it generates an oscillating charge that travels through the rectifier, which then switches on and converts the alternating current (AC) into a direct current (DC). It’s taken scientists more than 40 years to get light working in this way, and the invention could lead to new technologies for converting heat waste into electricity and more efficiently capturing solar energy - without the need for cooling. "A rectenna is...
LME Aluminium prices averaged at $ 1588.8 per tonne by the end of September 2015, down 20% from month ending September 2014. International Aluminium Institute (IAI) that measures the production trend in the world has come out with its latest numbers. IAI has mentioned that the trend of Aluminium production again moved to higher side. In August 2015, World Aluminium markets moved to record production numbers. Data estimates from International Aluminium Institute (IAI) showed that the total primary Aluminium production reached 4.95 million tonnes in September 2015 against 4.92 million tonnes in July 2015. This marks an increase of 0.60% on a monthly basis. The production of Aluminium in August 2014 was 4.48 million. This means that Aluminium production increased by 10.5% on a yearly basis....
Lightweight and high performance metals leader Alcoa announced that Roy Harvey, Executive Vice President, Human Resources and Environment, Health, Safety and Sustainability, is appointed President of Global Primary Products (GPP), succeeding Bob Wilt, effective immediately. Harvey previously served as both Chief Operating Officer and Chief Financial Officer of GPP, Alcoa’s upstream business. The Company recently announced plans to separate the upstream and value-add businesses into independent publicly-traded companies. “Roy Harvey is an excellent leader to continue the transformation of our Global Primary Products Group into one of the industry’s strongest global competitors,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. “He has a strong track record of success...
The inclusion of Iranian Aluminium Co (“Iralco”) by the Council of the EU in the EU’s nuclear proliferation sanctions on Iran has been annulled by the CJEU in Case T-158/13 Iranian Aluminium Co v Council. The judgment was given on 15 September 2015. Iralco had been subject to sanctions since 2012 for allegedly assisting other designated entities to violate the provisions of the UN and EU’s Iran sanctions, supporting Iran’s proliferation-sensitive nuclear activities, and contracting to supply aluminium to Iran Centrifuge Technology Company, an entity subject to EU sanctions. Iralco denied the Council’s reasons for listing, and the Council produced no supporting evidence in response. The listing was therefore annulled on the basis that the Council had made an error in its listing...
LME aluminium is expected to test a resistance at $1,581 per tonne, with a good chance of breaking above this level and rising more towards the next resistance at $1,598. These two resistances are identified respectively as the 50 percent and the 38.2 percent Fibonacci retracements on the rise from the August 24 low of $1,506 to the September 9 high of $1,655.50. Wave pattern suggests that aluminium is riding on a wave c, the third wave of a three-wave cycle from $1,506. This wave could at least travel to $1,634, its 61.8 percent Fibonacci projection level. A more realistic target could be $1,598.
The Environmental Impact Report on a proposed 964-acre aluminum direct chill billet casting facility in Lenwood is expected to be released by November, officials say. Economic Development and Planning Manager Gaither Lowenstein confirmed recently that he anticipates releasing the public review draft by mid-November. Mojave Aluminum President Eric Shen said he is a little more optimistic. "We are hoping to have the consultants sign off on the draft for administrative city review and public review sometime in October," Shen said by phone Wednesday. The $201 million proposed aluminum plant is targeted for a site at the southeast corner of Gazana Street and Amarylis Avenue. City Manager Curt Mitchell had last reported on the plant's progress at the August 25 City Council meeting. During a...
Multi Mech is targeting three regional aluminium operations with its smelter-customised forklifts, which are manufactured by Doosan and distributed exclusively by Multi Mech in the region. The company is hoping to replace much of the 200-machine fleets of a couple of existing smelter operations in the region, as well as playing a role in supplying a 200-machine bauxite-refining operation that is yet to come online. “So we’re talking about 600 machines for three years down the line, and the market size for lift trucks is only 10,000 across segments,” states Gopinath. “If I take over three smelters, I'm taking a 30% share of the market [in aluminium]. “Two years down the line, our forklift business in the GCC will be worth $50m to $75m, and it’s not just the trucks: the aftersales and parts...
Century Aluminum says about 250 employees will remain working at its Hawesville Smelter in western Kentucky. The Messenger-Inquirer reports in a statement Wednesday, the company said that the plant will continue operating at about 40 percent capacity after October 24. Company officials had originally planned to shut down the smelter on that date, citing a stagnant aluminum market and low prices for Chinese aluminum. The company now says it will keep two pot lines operating at the plant. Century Aluminum's spokesman Kenny Barkley says the company would monitor the economy and the price of aluminum to determine if the two pot lines would continue operating. Barkley says the company believes it can still operate with two pot lines and be profitable.
Southwest Securities International Securities Limited (00812) (SWSI) has conditionally agreed to subscribe for the secured convertible bonds issued by XinRen Aluminum Holdings Limited in an aggregate principal amount of US$30 million. The convertible bonds, bearing interest at a rate of 8% per annum, will become mature on 27 August 2020. Assuming full conversion of the convertible bonds at a conversion price of S$1.01 per XinRen Aluminum share, the maximum number of conversion shares to be allotted and issued by XinRen Aluminum will be 39.386 million shares. XinRen Aluminum, whose shares are listed on the Main Board of SGX-ST, is a vertically integrated maker of primary aluminum products in the PRC. As the rate of return of the convertible bonds is generally more favourable and higher...
The current imbalance in the aluminum supply/demand relationship inside China has spurred an oversupply which is resulting in two negative outcomes for the U.S. economy and the aluminum industry as a whole. It encourages illegal trade, trans-shipment, and re-melting of fabricated aluminum products, which is fundamentally impacting U.S. aluminum producers. It has also created an oversupply of material from the most carbon intensive operations in the world, supplanting aluminum produced in less carbon intensive regions, including North America. At the direction of the Aluminum Association’s Executive Committee Trade Working Group – chaired by Michelle O’Neill, Alcoa; and including John Barneson, Kaiser; Kip Smith, Noranda; John Gardner, Novelis; and Garney Scott, Scepter – the Association...
Indian aluminium industry officials are set to meet Revenue Secretary Hasmukh Adhia this week and pitch for a safeguard duty on the lines of one on steel products in a bid to check cheap imports from China and the Middle-East. Following the imposition of 20 per cent provisional safeguard duty on steel products by the government, industry body Aluminium Association India (AAI) is readying its case for a similar duty, sources said. The association is collating data for all primary and rolled products to strengthen its case and its members are slated to meet the Revenue Secretary next week, they added. Last month, the association members -- Vedanta Group CEO Tom Albanese, Hindalco Deputy Managing Director D Satish Pai and Nalco CMD T K Chand -- met Finance Minister Arun Jaitley and urged him...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium smelters, announced the official appointment of Khalid Abdul Latif as Chief Marketing Officer following the Alba Board of Directors Meeting, which was held on Wednesday, September 30, 2015 at Alba. Khalid Abdul Latif will lead the Company’s global marketing strategies to drive innovation across Alba’s business divisions. Speaking on the occasion, Alba’s Chief Executive Officer Tim Murray said: “Khalid’s appointment reflects Alba’s commitment to develop Bahraini nationals from within the Company into key leadership positions. He has a right mix of marketing and operational experience to stimulate our existing business and develop new markets. I am confident that Khalid will steer Alba’s global marketing strategy to meet...
The 33rd ICSOBA Conference and Exhibition will take place in the Rotana Al Murooj hotel in Dubai, UAE in the period of 29 November - 1 December. For the event ICSOBA (International Committee for Study of Bauxite, Alumina and Aluminium) cooperates with Emirates Global Aluminium (EGA), the jointly-held, equal-ownership company integrating the businesses of Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL). Technical field trips to DUBAL smelter (Dubai) and EMAL Smelter (Abu Dhabi) will take place on November 29, 2015. ICSOBA was established in 1963 and is an independent non-profit association that unites industry professionals representing major bauxite, alumina and aluminium producing companies, technology suppliers, researchers and consultants from around the world. As ICSOBA travels...
Aluminium prices were up 0.73 per cent to INR 103.20 per kg in futures trade today as participants strengthened their positions, supported by an upward trend in base metals pack overseas. Besides, firm demand at the spot market also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in the current month edged up 75 paise, or 0.73 per cent, to INR 103.20 per kg in a business turnover of 464 lots. Also, the metal for delivery in November was trading up 65 paise, or 0.63 per cent higher, at INR 104.30 per kg in a turnover of 4 lots. Marketmen said, apart from increased domestic demand, a firming global trend in base metals after China's official factory gauge stabilised around a three-year low, showing signs of manufacturing recovery in the world's largest...
As part of its commitment to developing local talent, Sohar Aluminium (SA) has launched the company’s inaugural Fresh Graduate Programme to give selected high achieving young Omani students an intensive training and may become SA’s future Engineers. The programme is open to Engineering Bachelor degree holders in the disciplines of Mechanical, Electrical, Mechatronic, Chemical, Civil or Computer Science who have completed their education in 2014 or 2015. SA’s existing employees who have recently completed their undergraduate education can equally apply to the programme. Said bin Mohammed al Masoudi, CEO of Sohar Aluminium, said, “We are proud to introduce a course tailor-made for young and ambitious Omanis who are looking for an opportunity to work for one of the Sultanate’s leading...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium smelters, is on track to exceed its annual production growth targets according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa. The statement was made following the third quarterly meeting for the year 2015, which was held on Wednesday, September 30, 2015 at Alba. The Board approved the appointment of Khalid A. Latif as Chief Marketing Officer (CMO) with immediate effect. The Board also approved the 2016 Marketing Plan, the half-yearly financial statements along with the recommendation to distribute interim cash dividends of BD 7.77 million (US$ 20.66 million). The Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said: “I,...
Japan's aluminium premiums for October-December shipments were set at $90 per tonne, down 10 percent from the previous quarter on high domestic inventories and weaker overseas rates, five sources directly involved in the talks said on Wednesday. Japan is Asia's biggest importer of the metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region. Two end-user sources and two buyers at trading houses said all deals were done at $90, while a source at one of the producers said most shipments were booked at $90. The fourth-quarter premiums, against $100 per tonne PREM-ALUM-JP paid in the July-September quarter, marked the third straight quarterly decline. Premiums hit a record high of $425 in...
China’s primary aluminum imports surged 40.65% MoM to 21,800 mt in August, customs data showed. The average SHFE/LME aluminum price ratio rose 3.91% MoM to 7.62 in August, favorable for imports. Aluminum premiums in Asia held largely steady around USD 100/mt in August. In August, primary aluminum imports were largely under two trade modes, namely feeding processing trade and goods in bonded areas (including pilot areas under customs supervision). Primary aluminum imported under these two trade modes is either sold overseas after being processed or stored in bonded zones, rather than being traded in China’s domestic market. China’s primary aluminum imports will grow slower in September, as the average SHFE/LME aluminum price ratio dipped to 7.38 during the first three weeks of the month.
