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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Century Aluminum of Kentucky, a wholly-owned subsidiary of Century Aluminum Company, today announced that it expects to continue to operate its Hawesville, Kentucky smelter at approximately 40% of capacity (two potlines) following October 24, 2015. Century had previously announced its intent to curtail 100% of its Hawesville operations beginning on October 24th, but now will only reduce its operations to 40% of capacity. The remaining operations at the Hawesville smelter will primarily produce high-purity aluminum and provide molten metal to local customers. Continued operations at 40% of capacity will be dependent on acceptable commercial conditions, including aluminum prices, product premiums and operating costs. "We are pleased to be able to announce that partial operations will...
The members of the Supervisory Board of Aluminij d.d. Mostar adopted today the Decision on the dismissal of Nikica Ljubic from the position of CEO of the company, and also the entire Board of Directors, i.e., Executive Directors Ivan Grle, Tomislav Lovric and Amar Hadžiomerovic. The session was convened, after the rejection of the proposed Annual Report for 2014 at the last Shareholders' Assembly session of Aluminij, with the aim of vote of confidence for the current Board of Directors. The Decision on dismissal was passed with six votes in favour and one vote against, and the president of the Supervisory Board Dalibor Miloš thanked Nikica Ljubic for his past engagement, pointing out the necessity of those changes, given the fact that the accumulated problems would culminate in a very...
Under the patronage of H.E. Hamed bin Khamis Al Amri, Undersecretary of the Ministry of Manpower, Sohar Aluminium (SA) proudly graduated two batches of Multi-Functional Technicians during a special ceremony held at Crowne Plaza Sohar. The 55 employees successfully completed a 2 year in-depth development programme at the SA Training Centre which allowed them to be promoted from Operators to Multi-Functional Technicians. On the occasion, Eng. Said bin Mohammed Al Masoudi, CEO of SA, said, “Today marks a very important milestone for Sohar Aluminium as we witness 55 of our employees enhance their professional skills through hard work and dedication but above all, ambition to grow and progress in their careers. Congratulations to one and all.” He added, “From the onset, Sohar Aluminium has...
Norsk Hydro ASA, Europe’s third largest aluminum producer, is likely to follow its larger competitor Alcoa Inc. in splitting itself to better cope with a slump in the aluminum market, according to an analyst at Norway’s Fondsfinans AS. It’s “just a matter of time” but Hydro is “not known as a fast mover in that respect,” said Morten Normann, an analyst at Fondsfinans. Alcoa, the largest U.S. aluminum maker, announced Monday it will break itself up into an upstream and downstream company. The upstream business, which will retain the name, includes bauxite mines, alumina refineries and smelters while the downstream business includes value-added aluminum products. After the split Oslo-based Hydro is, according to Fondsfinans, the only “sizable” integrated producer left in the aluminum...
Alloys supplier Insimbi said the commissioning of its new aluminium plant was "imminent" and it expected the smelter to be fully operational by "no later than November". The Johannesburg smelter is set to improve operational efficiencies and recoveries, helping the group capture foreign revenue it hopes will offset slowing demand at home. "We are actively looking for other markets for our range of aluminium products, and with a weak currency, there are opportunities in the export market," the company said in its interim results statement. Insimbi supplies alloys and refractory materials to the steel, aluminium, foundry and cement industries in SA and the rest of Africa. For the six months to August, orders from its two existing aluminium smelters declined as margins in the steel industry...
Battered by surge in imports from China and West Asia, the domestic aluminium producers under the banner of Aluminium Association of India (AAI) have sought an enabling provision of 15 per cent duty on aluminium imports in the Budget for 2016-17. "We have sought an enabling provision of 15 per cent duty on aluminium imports in the next Union Budget. Before that, we want the import duty to be doubled from five per cent to 10 per cent. We have placed our concerns before the Union finance minister and he has responded positively", said T K Chand, chairman-cum-managing director, National Aluminium Company (Nalco). With the surge of more than 1.5 million tonne per annum (mtpa) import of aluminium to the country, the share of domestic producers in the market has dropped drastically to 45 per...
Aluminium settled down -1.01% at 103.25 as prices remains under pressure from oversupply, especially from China, but nearer term tightness has emerged. China's economic growth will be largely stable in the third quarter as the impact from a stock market plunge will be limited, a government body said. The U.S. economy expanded more than previously estimated in the second quarter, backing the case for an interest rate rise before year end, raising headwinds for commodities by eroding purchasing power for buyers holding other currencies. The aluminum exports from the US and Canada declined sharply by 23.5% during the initial seven-month period of the year. The exports totaled 1.671 billion lb during this period. Meantime, imports surged higher by 19.3% year-on-year to 3.563 million lb. The...
New air pollution laws set to take effect in China next year may cut supply of a vital feedstock for the manufacture of aluminum, bumping up costs for a sector that has been battling with prices near multi-year lows. Legislators have approved amendments to China's 15-year-old air pollution law that give the state new powers to punish offenders and create a legal framework to cap coal consumption, the Asian giant's biggest source of smog. The amendments also flag tighter standards for the use of petroleum coke, a byproduct of oil refining and an essential ingredient for the global aluminum industry. A clampdown on high sulfur petcoke could force global aluminum makers to compete for limited supplies of the low sulfur option, hiking costs, speeding closures and dragging on the share prices...
Indian aluminium giant National Aluminium Co Ltd (Nalco) is exploring opportunities in Oman, Iran and Indonesia to set up an aluminium smelter plant with an estimated investment of around US$3bn. The company would finalise the location for the plant after examining factors like availability of low cost power and infrastructure, T K Chand, chairman and managing director of Nalco, was quoted by the Press Trust of India as telling reporters on Saturday. The smelter unit is sought to be of 5mtpa capacity together with 150MW captive power plant, Chand said, adding, “Though Nalco is ready to go alone on the project, we are open to a joint venture if a suitable partner comes forward.” “While power is cheap in Oman and Iran, abundant coal is available at low cost in Indonesia. Port facilities...
Aluminium slid to one month lows on Monday, September 29 on worries about upcoming data that may show weak industrial activity in top metals consumer China. Data on October 1, Thursday is likely to show that China's giant factory sector shrank for the second month in a row in September. "The market is looking for direction and probably the most likely source of that is Chinese data," said Caroline Bain, senior commodities economist at Capital Economics in London. "We've had quite a bit of stimulus already and it hasn't yet been reflected in any sort of rebound in activity. We're going to need some improvement in data before we have any rebound in prices," she added. Aluminium dropped 1.1 percent to $1,549 a tonne in official rings, also hitting the lowest in a month. "Aluminum remains...
Production of primary aluminium is likely to touch 2.4 - 2.5 million tonne (mt) in 2015-16 up from the level of 2.04 mt in 2014 -15, led mainly by improved demand from transport and electrical sectors. "With increasing investment by the central government in power transmission during 2014, India has seen improved demand growth from the electrical sector, which is likely to continue through 2015," Nalco chairman and managing director T K Chand said while speaking at the company's 34th annual general meeting. Demand growth is likely to be the highest in transport, building and construction sectors, but other sectors are also expected to grow simultaneously. It is estimated that by 2020, India would double its consumption to 5 million tonne, he added. In particular, beverage cans, alloy...
Century Aluminium is all set for large-scale cost reduction; and this includes plans of huge layoffs at the company's Hawesville, Kentucky plant location- a decision likely to affect as many as 600 employees, if not more. The layoffs, made inevitable by the highly volatile metal market condition, begins October 24. Century officials say a severely weakened metal market due to a Chinese over-capacity of aluminum and what they call “unfair trade behavior” from China is prompting the closure of the Hawesville plant. That is unless the pricing environment changes drastically. Hawesville will stop producing primary aluminium by November 1.
Lightweight metals leader Alcoa announced that its Board of Directors has unanimously approved a plan to separate into two independent, publicly-traded companies, culminating Alcoa’s successful multi-year transformation. The separation will launch two industry-leading, Fortune 500 companies. The globally competitive Upstream Company will comprise five strong business units that today make up Global Primary Products - Bauxite, Alumina, Aluminium, Casting and Energy. The innovation and technology-driven Value-Add Company will include Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The transaction is expected to be completed in the second half of 2016. After the separation, the Upstream Company, with its strong history in the...
The Odisha State Pollution Control Board (OSPCB) has issued a show cause notice to Aditya Aluminium, asking it why the plant should not be shut for not adhering to the pollution control measures, a board official said on Sunday. The company, which has set up an aluminium smelter plant, having capacity of .36 MTPA and a thermal power plant (5X150 Mw), has been asked to reply to the notice within 15 days, the official added. "Why consent to operate, already granted for 2015-16 in favour of your plant, shall not be revoked and closure direction shall not be issued for the above violations and appropriate legal action shall not be issued against your unit," said the notice issued to the Chief Operating Officer of Aditya Aluminium. During a surprise inspection by a team of the board, it was...
Yunnan Metallurgical Group signed an agreement with the government of Zhaotong, Yunnan, to build a 700,000-tpy aluminum project there, hexun.com reported. The project is scheduled to enter into operations in October 2017, with construction scheduled to begin in October 2015, the media added. The project has a total investment of 6 billion yuan or USD 940 million and will rely on hydropower.
China’s aluminum semis exports will rebound slightly in September after 6.25% year-on-year decline in August, SMM predicts. The rally will driven by the pullback in SHFE/LME aluminum price ratio and yuan’s devaluation, SMM’s aluminum research team said. Outbound shipments were just 300,000 tonnes in August, down from robust exports during H1. SMM attributes the year-on-year decline mainly to rising SHFE/LME aluminum price ratio, which curtailed exports of low- and medium-end products.
Subdued prices and higher Chinese exports might curtail capacity and hinder new expansion projects in the aluminium sector globally, despite strong production levels in India and West Asia, said a top executive at National Aluminium Company (Nalco). “Global prices of aluminium have remained under pressure on account of a number of factors, including the high global inventory of the metal, concerns about the performance of the Chinese economy and appreciation in the US dollar. Prices of aluminium are generally expected to remain low in the near-term due to subdued global demand for the metal as well as uncertain macro-economic environment prevailing globally,” Nalco's Chairman and Managing Director T K Chand said here in his address to shareholders at the company's 34th annual general...
A startling slump in the price of aluminium on global markets is more than offsetting a 20 per cent fall in the New Zealand dollar against the greenback, pushing the Tiwai Pt aluminium smelter into negative cashflow, according to estimates by Wellington investment firm Woodward Partners. Woodward senior analyst John Kidd has begun producing a monthly "Tiwai-o-meter" to track the smelter's commercial viability as power companies and major energy users assess the outlook for electricity supply towards the end of the decade, following the announced removal of more than 1000 megawatts of coal and gas-fired generation between now and 2018. Tiwai Pt, near Bluff, uses one-seventh of all electricity generated in New Zealand, has forced reductions in the price it pays for electricity in response...
