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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LME aluminum fell to USD 1,590/mt on Tuesday, but then bounced back to above USD 1,600/mt on exit of shorts. Finally, LME aluminum ended at USD 1,617.5/mt. Trading volumes were up 6,470 lots to 16,553 lots, and positions were down 4,375 to 828,000. It’s worth noting that LME aluminum inventories surged 87,500 mt to 3,263,375 mt. The growth was contributed by Singapore and Port Kelang Malaysia, where inventories increased 27,775 mt and 67,925 mt, respectively. SHFE 1511 aluminum tracked LME aluminum up during Tuesday’s night session, but met resistance at RMB 11,940/mt. The most active contract should range RMB 11,900-12,000/mt on Wednesday. In China’s spot market, SHFE 1510 aluminum has become the front-month contract today. Spot discounts might widen to RMB 80-40/mt over SHFE 1510...
Hurt by spate of cheaper imports and plummeting LME (London Metal Exchange) prices, Indian aluminium makers need to focus on cost competitiveness in the long run to compete against their global counterparts, observe analysts. Aluminium producers like National Aluminium Company (Nalco), Hindalco Industries and Vedanta have been pressing for hike in import duty to 10 per cent (from five per cent now) to counter the threat from rising imports from China and West Asia. Also, falling metal prices have eroded their competitive edge, forcing them to keep half of their capacities idle. "Increase in import duty can provide an immediate relief to Indian aluminium producers but in the longer run, cost competitiveness is important. Two key input costs are energy cost and bauxite cost. With all key...
The Arab International Aluminium Conference "ARABAL" organized by the Saudi Arabian Mining Company from 15 - 17 November in Dhahran International Exhibitions Center, Eastern Province, will discuss the integration of the aluminium upstream and downstream sectors throughout the GCC. On the first day of the conference the CEOs of the Gulf companies will examine the current situation of aluminium markets and investment opportunities in the Gulf region as well as market analysis, research the sustainability of the industry and discuss the challenges facing investors. The second day of the conference will focus on the aluminium industry’s best practices in environment, health and safety, as well as operational excellence, productivity, innovation and technology. Day three will provide a...
Aluminium Bahrain B.S.C (Alba), one of the world’s leading aluminium smelters, is the gold sponsor for the third Middle East Process Engineering Conference & Exhibition (MEPEC), on September 15-17 at the Bahrain International Exhibition & Convention Centre (BIECC) under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister, MEPEC's theme is ‘Delivering Process Efficiency through Innovation and Value Creation’. Alba, through its sponsorship and participation in MEPEC, aims to support innovations and developments in the field of process engineering, as well as meet and interact with potential trade partners in the field of chemical and process engineering. Speaking about Alba’s support for MEPEC 2015, Alba’s Chief Executive Officer, Tim Murray said:...
National Aluminium Company (NALCO) has been allocated Utkal D and E Coal Blocks, in Angul district of Odisha, where the company's 4.6 lakh tonne aluminium smelter and 1200 MW captive power plant are located. The company's smooth operation and expansion plans hinged on the allocation of these blocks by the government of India. With this, NALCO's captive resources add 200 million tonnes of coal, which will see the company through the next three decades and more. Utkal E Coal Block was allotted to NALCO by Government of India in 2004. The company had spent INR 126.34 crore for this block, including INR 98 crore towards compensation against land acquisition. The company had also spent considerably on infrastructural facilities and various CSR activities in the area. However, the cancellation...
Aluminium prices edged up by 0.28% to INR 107.25 per kg in futures trade today as participants enlarged positions amid a firming trend overseas. Besides, strong demand in spot markets influenced metal prices. At Multi Commodity Exchange, aluminium for delivery in the current month inched up 30 paise, or 0.28%, to INR 107.25 per kg in a business turnover of 212 lots. Metal for delivery in October contracts also rose by a similar margin to trade at INR 108 per kg in 20 lots. Traders said that apart from increased domestic demand, a firming global trend despite concern over an economic slowdown in China, the world's largest consumer, helped aluminium futures trade higher.
LME aluminium faces a resistance at $1,644 per tonne, a break above which will lead to a gain to the next resistance at $1,660. These two resistances are identified respectively as the 38.2 percent and the 50 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle that developed from the Aug. 24 low of $1,506. The longer the wave c hovers below $1,644, the more likely it will retrace to the support at $1,624, the 23.6 percent level. A rise to $1,648 may signal a break above $1,644.
Unifor, Canada’s largest private sector union, has successfully argued before the BC Supreme Court that Rio Tinto’s Kitimat aluminum smelter must reviewed by the Environmental Assessment Board (EAB). The project, to be built without a sulphur dioxide scrubber, had been approved by the province’s ministry of transportation. Without a scrubber, the sulphur dioxide emissions would increase to 42 t/d from 27 t/d, according to Unifor. The decision to approve the smelter without scrubbers will now be sent back to the EAB. Rio Tinto is currently in the midst of a US$4.8 billion modernization and expansion to increase Kitimat capacity by 48%, to 420,000 t/y from 282,000 t/y. Rio’s AP™ technology will be installed as it has been at Alma and Arvida, QC, smelter. The company says that the new...
Base metals nickel and aluminium are likely to experience a price hike by the middle of September due to various positive global cues, observed a market research group. The white metal will get a price boost on production upgrade from a giant Russian bauxite producer, the analysts forecast. “ We expect aluminium prices to trade higher in September 15 as supply glut concerns will likely get a breather as Russia’s Rusal, the world’s top aluminium producer, is considering capacity cuts of 200,000 tonnes a year this year,” the group added. Earlier this year, Rusal deputy chief executive Oleg Mukhamedshin had said that bauxite producers across the globe are forced to either cut production or completely shut operations down due to the losses obtained from weak global prices. “Chinese smelters...
Some have blamed China’s economic slowdown for slump in global aluminum prices , which have fallen to the lowest since July 2009. However, that is most unlikely, opined Rusal’s Deputy CEO Oleg Mukhamedshin. Mukhamedshi argued that supply glut is the true culprit behind lower aluminum prices. In fact, demand for the light metal remains strong, Oleg Mukhamedshin said in an interview with finance.qq.com. The biggest issue facing the industry is the entry of new market players, which exacerbates already oversupplied market, Oleg Mukhamedshin added.
East Hope Group will bring online its vertically-integrated aluminum project in Lingshi County, Shanxi Province, next year. The project covers 3 million-tpy aluminum hydroxide , 300,000-tpy primary aluminum, 300,000-tpy carbon, 300,000-tpy aluminum semis, etc., the media said. Shanxi is rich in bauxite , coal and limestone, giving easy access to East Hope’s project.
President of Indonesia, Joko Widodo (Jokowi) visited a container seaport and an aluminum processing plant in Dubai during his recent visit to the Emirates. The president closely evaluated the seaports management, which is run in an efficient and timely manner. "We have prepared the guidelines for cooperation for the dry port in Surabaya, and we will also develop them in Tanjung Api-api. I have ordered a two-week survey, and in Jakarta, we have decided to implement it immediately," Jokowi noted while visiting Dubai Port World. The head of state thereafter visited an aluminum processing plant to explore cooperation in aluminum processing in Asahan. "Aluminum in Asahan is also similar. There is also silica sand and nickel that we could process as good as here. Between two and three weeks,...
The investment peak in China’s aluminum processing industry might have come to an end. Fixed asset investment in China’s aluminum processing industry totaled 87.5 billion yuan in January-July period, up 4.5% from a year ago. The growth slowed down markedly from over 20% average growth over the past two years. The 13th Five-Year Plan period (2016-2020) will see gradual release of the country’s new capacity, accompanied by industry restructuring and upgrading, opines industry insiders.
Correlations between metals prices were high ahead of the Great Financial Crisis (GFC) and in the immediate aftermath of it. Prior to the GFC, this was heavily influenced by exceptionally strong global economic growth and Chinese demand, which swept the quotations of most commodities higher, said Bank of America Merrill Lynch in a research note. Meanwhile, immediately after the Global Financial Crisis, cross-asset correlations remained high partially because several governments implemented large fiscal stimulus packages and many central banks flooded the markets with liquidity. Yet, more recently, individual metals have increasingly traded on their idiosyncratic fundamentals. This has been reflected in a sharp drop in correlations. According to BofA Merrill Lynch, the decline in...
India's aluminium industry on September 12 called on the government to raise duties on import of the metal to stem the flow of cheap imports from China. An Aluminium Association of India delegation, led by Vedanta Group chief executive Tom Albanese, Hindalco deputy managing director D Satish Pai and Nalco chairman TK Chand, met finance minister Arun Jaitley here to impress upon him the need to hike duties to prevent imports from impacting industry investments of over INR 100,000 crore. "We are here to present aluminium industry's case and the difficulty we are facing. Finance minister gave us a patient hearing. He is aware of our situation and we are quite sure that he will take the right decision," Pai told reporters here after the meeting. Imports accounted for 56 per cent of aluminium...
Aluminium India 2015 concluded successfully after playing host to a congregation of global aluminium industry players from 7 to 9 September in Mumbai. Given the fact that aluminium industry is currently going through a challenging phase, this international exhibition-cum-conference held at Bombay Exhibition Centre, Mumbai served as an apt platform for domestic and international industry players to network, brainstorm ideas and opportunities and showcase their cutting-edge technologies and applications in front of a global audience. The three day event, which covered every part of the aluminium industry value chain right from Raw Materials and Aluminium Processing Machinery to Aluminium Extrusions and End User segments, saw leading industry figures coming under one roof. There were over...
Vedanta Group is getting aggressive with capacity expansion in Tamil Nadu. The company, which has its copper smelter in Tuticorin and an aluminium factory in Mettur, has drawn up a INR 6,000-crore investment programme to be spent over the next 12 to 24 months. It is also planning a foray into solar in the state. P Ramnath, CEO of Sesa Sterlite said, the group was planning to restart Malco, the aluminum plant in Mettur, by bringing in aluminium ingots, and make wires and end products. "Basically, we want to restart the plant for downstream products in the short term and see how we can make the entire plant work in the long term," he said. On plans to set up 50MW solar power plants near Mettur, he said, "We have lands for solar project. To begin with we will have 5MW plant and feasibility...
Alstom has signed a contract, worth approximately €36 million, with Emirates Global Aluminium (EGA) to supply equipment on a turnkey basis for Potlines 1 & 3 at EGA’s core operating subsidiary, Dubai Aluminium (“DUBAL”, also known as EGA Jebel Ali), in Dubai (United Arab Emirates). The project will be executed from Alstom’s competence centers in Europe and the Middle East. Continuous site activities will commence from June 2015, with project completion scheduled for March 2018. As part of this contract, Alstom will improve the performance of four Gas Treatment Centers (GTCs) at the DUBAL aluminium smelter by adding compartments and supplying a complete new pot feed system (Alfeed) for the transportation of alumina from the GTCs to 520 new D18+ electrolysis cells. The new cells are the...
