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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Hindalco Industries, the country’s largest aluminium maker, has cut production by up to 10 per cent at its Hirakud smelter in Odisha, on declining global prices and high energy costs. The cut by the Aditya Birla Group company has come at a time when smelter capacity use worldwide is down by a third and as Bharat Aluminium Co (Balco), part of Anil Agarwal’s Vedanta Limited, has started shutting its rolling mill at Korba in Chhattisgarh. “One line at the Hirakud smelter has been shut, which could be a production cut of 5-10 per cent,” a Hindalco executive told Business Standard. “Though we expect global aluminium prices to bounce back in a few months, we will review the situation at Hirakud,” he added. Aluminium hit a six-year low of $1,475 per tonne last month. Prices and premiums have...
The latest report published by the World Bureau of Metal Statistics (WBMS) indicates that global primary aluminum market has recorded a deficit during the initial seven months of the year. As per the report, the market reported a deficit of 487,000 tons when matched with the deficit of 754,000 reported during entire year 2014. The production of primary aluminum was up by 15% during the seven-month period from January to July this year. The global production rose by 4,741 kt during this period, when compared with a year ago. The total reported stock of metal has declined further by 106,000 tonnes during the month of July. The stocks at the end of the initial seven-month period stood at 4,444 kt, which is sufficient to meet 32 days demand. It must be noted that the stock levels at the end...
The State-run National Aluminium Company Limited on Saturday reaffirmed its commitment on setting up of the second smelter and power complex at Odisha’s Sundargarh at estimated cost of Rs. 22,000 crore. “A smelter unit of 0.5 MTPA with a power plant of 1050 MW capacity at a cost of Rs.22,000 crore is being planned at Sundargarh district of Odisha. NALCO has already applied for single window clearance of above project,” said NALCO chairman and managing director T.K. Chand while addressing shareholders at the 34th annual general meeting here on Saturday. NALCO has already been operating a smelter and a power plant at Angul. “Some preliminary clearances have been obtained and NALCO has applied for Single Window Clearance from Odisha government for Sundargarh smelter,” said Mr. Chand....
Aluminum at London Metal Exchange (LME) opened at USD 1,573/mt on Thursday, September 25. The light metal touched day’s high of USD 1,588/mt and day’s low of USD 1,570/mt. Finally, LME aluminum ended up USD 1/mt at USD 1,579/mt, helped by rising gold prices. Trading volumes were down 924 lots, and positions were up 3,619 to 822,000. On Thursday night, SHFE 1512 aluminum drifted higher after opening lower at RMB 11,765/mt, but failed to break through the 5-day and 10-day moving averages. The most active contract should move between RMB 11,800-11,900/mt on Friday, checked by pre-holiday risk aversion. In China’s spot market, pre-holiday stocking demand will remain strong, with spot discounts of RMB 0-40/mt expected over SHFE 1510 aluminum contract.
Mining and metal stocks led the London market lower on September 24, Thursday, as the commodities market saw another tumultuous trading session. The FTSE 100 fell below 6,000-level closing 1.17% or 70.75 points lower at 5,961.49, while the FTSE 250 closed down 0.87% or 145.32 points at 16,514.53. Selected base metal futures fell further on the London Metal Exchange extending Wednesday’s declines. Past the midway point of trading, LME’s three-month delivery contracts of most non-ferrous and base metals were down; primary aluminium was down 0.6%. Glencore took a hammering with its share price breaching the 100p-level to close at 98.61p, down 9.62% as the biggest blue chip faller.
CME Group, the world's leading and most diverse derivatives marketplace, announced the first Aluminium European Premium Duty-Unpaid futures contracts were traded on Tuesday, 22 September 2015 by Crunch Risk, LLC. A total of 10 futures contracts traded at a price of $72.50 per metric tonne. "We're pleased to see early support for our new Aluminium European Premium futures, which are an outgrowth of our existing suite of aluminium risk management tools," said Young-Jin Chang, CME Group Senior Director of Metals Products. "Based on the success of our Midwest premium futures, we worked closely with the aluminium industry to develop these contracts that enable our customers to hedge their exposure to European premium volatility." "This new contract from CME Group comes at a time when we've...
Hindalco Industries is currently trading at INR 73.35, up by 0.20 points or 0.27% from its previous closing of INR 73.15 on the BSE. The scrip opened at INR 72.50 and has touched a high and low of INR 73.65 and Rs. 71.70 respectively. So far 365860 shares were traded on the counter. The BSE group 'A' stock of face value INR 1 has touched a 52 week high of INR 176.40 on 27-Nov-2014 and a 52 week low of INR 71.30 on 07-Sep-2015. Last one week high and low of the scrip stood at INR 78.95 and INR 71.70 respectively. The current market cap of the company is INR 14991.80 crore. The promoters holding in the company stood at 36.99% while Institutions and Non-Institutions held 41.16% and 14.18% respectively. Hindalco Industries’ subsidiary Aditya Birla Minerals has signed a binding agreement with...
The London Metal Exchange (LME) is launching an electronic system to better track material stored outside its exchange warehouses in response to a financing fraud in China that roiled banks and trading. The new system, called LME Shield, will launch in December this year, and will allow the exchange to provide electronic receipts for metal stored outside its system, LME head of business development Matt Chamberlain said during a presentation at Metal Bulletin's International Aluminum Conference in Vancouver. Chamberlain had previously told Reuters that the world's oldest and biggest metals market was considering expanding its electronic LMESword system, which proves the origin and title to LME-warranted metal, beyond exchange stock after receiving requests from several banks that finance...
Noranda Aluminum Holding Corporation was one of the biggest decliners in trade yesterday September 23. The stock plummeted by close to 14 percent on the back of 3 times the daily average volumes which is a bearish signal. The sell off on the back of above average volumes is a clear indication of the shift of momentum towards the sell side. The sell off in the stock was on the back of the sell off seen in the commodity markets as the company shares a direct relationship with aluminium prices and therefore any weakness in the commodity markets is seen as a huge negative for the stock in the near term. Traders on the street believe the stock could head to levels of $1.80 in the near term. The total market capitalization for the company is at $22.82 million. Noranda Aluminum Holding has been...
China’s aluminum stocks will grow further in October after 320,000 tonne year-on-year surge in September, SMM predicts. New capacity will come online at faster pace heading into October, the major contributor to inventory growth, SMM’s aluminum research team said. Poor downstream consumption will be another driver. The surge in September was because new capacity overshadowed production cuts.
Global demand for aluminum will rise by 24 million tonnes to 78 million tonnes annually by 2025, said Alfredo Barrios, Rio Tinto's Chief Executive for aluminum, at an industry conference in Vancouver on September 22, Tuesday, though market fundamentals will continue to force further capacity closures. "Demand for our products is clearly healthy. The issue we face is excessive supply," said Barrios adding that the aluminum market should return to balance in the next five years.
Players from the non-regulated sectors in India including cement, iron and steel, sponge iron, aluminium and fertiilisers have objected to the Centre's move to introduce auction for coal linkages. They have appealed to the Centre not to shift in haste to Supplier Controlled Ascending Market Clearing Auction methodology from the present system of coal allocation through Standing Linkage Committee. As per the Supplier Controlled Ascending Market Clearing Auction methodology, the prices are increased till demand-supply equilibrium is established. Coal India Ltd (CIL) is expected to open a separate e-auction window exclusively for non-regulated power sectors with a quantity of 4 million tonne. An inter-ministerial committee has sought suggestions and objections on the new method as it...
According to a USGS report, Domestic primary aluminum production in July 2015 was 134,000 metric tons. The average daily production was 4,320 tons, 3% less than the daily production during the preceding month and 6% less than that in July 2014. The monthly average U.S. market price of primary aluminum ingot decreased to $0.832 per pound in July from $0.854 per pound in June. The monthly average price decreased to $0.784 per pound in August. Inventories of primary aluminum in London Metal Exchange Ltd. approved warehouses in the United States continued their downward trend, decreasing to 658,000 tons at the end of August, their lowest level since October 2008.
Iran increased its primary aluminium shipment volumes to the world’s top consumer China after global premiums for the white metal along with the prices declined sharply hitting demand from its long time buyers Turkey and Middle East. Iran left behind Russia and other exporting nations in the race to become China’s top overseas supplier of primary aluminium in August. As per China trade data, Iran shipped 13,925 tonnes of primary aluminium last month becoming the largest seller of the metal to China in the first eight months period of 2015. The escalation in shipment volume is quite unusual given the fact the Chinese market is flooded with excess primary aluminium which the country is selling out to the global markets in the form of disguised aluminium products leading to a mammoth surplus...
Aluminium on London Metal Exchange (LME) is expected to test a support at $1,612 per tonne, a break below which could cause a fall to $1,590. The support is provided by the 14.6 percent Fibonacci projection level of an upward wave c, the third wave of a presumed three-wave cycle that developed from the Aug. 24 low of $1,506. This wave failed to extend above a resistance at $1,647, the 38.2 percent level, signalling it may have completed its first leg. The current second leg could extend to $1,590. Resistance is at $1,625, the 23.6 percent level, a break above which could open the way towards $1,647.
Aluminium prices were down 0.38% to INR 106.15 per kg in futures trade today as investors offloaded positions amid weak global cues and muted demand at spot markets. At the Multi Commodity Exchange, aluminium for delivery in current month eased by 40 paise, or 0.38%, to INR 106.15 per kg in a business turnover of 62 lots. Similarly, the metal for delivery in October was trading lower by 30 paise, or 0.28%, at INR 106.70 per kg in seven lots. Marketmen said the fall in aluminium prices at futures trade was mostly in tune with a weak trend at London Metal Exchange (LME) as industrial metals retreated on investor concern about demand prospects amid the economic slowdown in China.
Aluminium Bahrain B.S.C (Alba), one of leading national companies in Bahrain received on September 17, 2015 a delegation comprising key members of ESSEC Business School and French Arabian Business School (FABS), Bahrain. The occasion was to honour Alba employees who recently graduated from the Alba sponsored 18-month MBA programme - offered by FABS, Bahrain in partnership with the ESSEC Business School, one of Europe’s leading business schools. ESSEC Business School was represented by its Dean, ESSEC Executive Education, Prof. Thomas Jean Jean, and Professor, Management Department, Dr. Cédomir Nestorovic, while FABS was represented by its Director Dr. Karim Said along with Samia Abdel Khalek, Coordinator for FABS. HE the Ambassador of France, M. Bernard Régnauld-Fabre and French Cultural...
Distinguished members of the Aluminium Federation (ALFED), the trade association representing the UK aluminium industry recently paid a visit to the London Metal Exchange (LME). The visit was hosted by Oscar Wehtje, LME's Head of Product Development, and guests were able to see the trading ring - the only such physical ring still active - in action for kerb trading at the end of the trading day. Oscar's presentation about the LME’s aluminium contract and the changes that have been, and are being made at the LME to create more liquidity and transparency in the aluminium market may be found here. ALFED is planning a second members’ visit to the LME in early 2016. A date for the visit will be announced soon.
