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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With China, the world’s largest consumer of major commodities including aluminium, unveiling stimulus, prices of aluminium are slated to rise next year, says Hindalco Industries Ltd, India’s second biggest aluminium producing company. Satish Pai, Hindalco’s deputy managing director said in an interview last week that after a dismal first half of 2015 and most likely the next two quarters of the fiscal also, prices of aluminium will finally rebound next year as China gears up to boost its slowing economy. He said prices may climb to as much as $1,900 a tonne next year. The light metal has plummeted 23% in the past one year, depressed by a huge surplus in the global market and a below than average demand. Aluminium for delivery in three months was at $1,615 a tonne, up 0.4%, as of 3:08pm on...
The Register of Members & Share Transfer Books of National Aluminium Company Ltd will remain closed from September 22, 2015 to September 26, 2015 (both days inclusive) for the purpose of Payment of Final Dividend & 34th Annual General Meeting (AGM) of the Company to be held on September 26, 2015. Shares of NATIONAL ALUMINIUM CO.LTD. was last trading in BSE at INR 32.7 as compared to the previous close of INR 33.2. The total number of shares traded during the day was 329094 in over 1899 trades. The stock hit an intraday high of INR 33.2 and intraday low of 31.35. The net turnover during the day was INR 10562982.
Boyne Smelters Ltd general manager Joe Rea has reached the regional finals of the Manager of the Year category for the Australian Institute of Management Excellence Awards 2015. During the past three years, he and his workforce have delivered operational cost reductions nearing $100 million, requiring difficult decisions around workforce reductions, production curtailment and site investment against a now six-year low for aluminium prices. Mr Rea has also led BSL to achieve a period of 365 days without a recordable injury, the best result ever achieved at the operation since it opened in 1981. "The Australian manufacturing industry is currently shrinking at a greater rate than it ever has in our lifetime. It would be a sad day when we surrender the opportunity to add value to Australian...
Goa Carbon has reported production of 16,353.400 MT (million tonnes) of calcined petroleum coke for the month of August 2015. Of the total production achieved for the month, Bilaspur plant produced 1,653.400 MT, Goa plant produced 3,417.000 MT of calcined petroleum coke while Pradeep plant produced 11,283.000 MT. On the sales front, the company has sold a total of 15,749.450 MT of calcined petroleum coke products for the month of August 2015. Of the total sales achieved for the month, Bilaspur plant, Goa plant and Paradeep plant of the company sold 1,607.250 MT; 6,605.100 MT and 7,537.100 MT respectively. Goa Carbon is into the business of manufacturing and marketing calcined petroleum coke. Goa Carbon is firmly established as a leading Indian petcoke calciner. It is a regular supplier to...
Chalco, China's top aluminium producer, has slashed output at its two smelters as high electricity costs and falling prices have severly hit their bottomlines. Chalco (Liancheng) shut down 80 * 200kA electrolytic cells and 12 * 600KA electrolytic cells in H1 2015, and has closed almost all of its 200KA electrolytic cells till now, said an executive from the company. Chalco (Lanzhou) is also struggling due to power cost hike and declining aluminium prices. After having run in losses it shut down 25 * 200KA electrolytic cells last year. What is plaguing Chalco's operations the most is the lack of captive power plants in its aluminum smelters. This has put them in a bad strategic position over rival companies operating smelters with captive power plants.
Russia’s aluminum exports soared during the first months of this year, driven mainly by sharp depreciation of rouble against the US dollar. The country exported 2.03 million tonnes of aluminum January-July, up 21% from a year ago, as per data from the Russian Federal Customs Service.
US non-farm payrolls missed forecasts, but jobless rate hit over 7-year low. LME aluminum fell back after opening higher at USD 1,630/mt last Friday. The light metal ended down USD 15/mt or 0.92% at USD 1,610/mt. Trading volumes were down 5,374 lots to 9,301 lots, and positions were up 3,003 to 837,000. SHFE 1511 aluminum should meet strong resistance at moving averages and move between RMB 11,820-11,900/mt on Tuessday. In China’s spot market, growing arrivals after the 3-day holiday will add to supply pressure and leave spot discounts at RMB 60-20/mt over SHFE 1509 aluminum contract.
National Aluminium Company Limited (NALCO), the Navratna PSU, Under Ministry of Mines, Govt. of India and country’s leading manufacturer-exporter of alumina and aluminium, has bagged the prestigious EEPC (Engineering Export Promotion Council)’s Star Performer Award, for its outstanding export performance during the year 2013-14. On behalf of the company, Shri A.K. Murthy, GM (Port Facilities), received the award from Ms. Nirmala Sitharaman, Minister of State for Commerce & Industry, Government of India, at All India Export Award Function, held in New Delhi on September 3. It may be mentioned here that NALCO enjoys Premier Trading House status, and it is the first Indian aluminium company to be registered with London Metal Exchange, for its high quality products.
LME aluminium may rise to $1,686 per tonne, as it has broken resistance at $1,617. Resistance was provided by the 23.6 percent Fibonacci retracement on the fall from the May 6 high of $1,977 to the Aug. 24 low of $1,506. The next resistance will be at $1,686, the 38.2 percent level. The metal had been falling within a channel before Aug. 24, the upper channel line of a duplicated channel indicates a target at $1,686 as well. A sudden drop below $1,617, now a support, could signal the break above this level was false, the 14.6 percent level at $1,575 could be approached.
The CME Group has taken another step towards challenging the London Metal Exchange's dominance of base metals trading outside China with a new European aluminum premium contract due to launch later this month. The new 25-tonne contract will trade on the global CME Globex platform from Sept 21. The exchange's other aluminum (U.S) Midwest premium contract was launched in April 2012. The new contract will start trading before the LME's four regional aluminum premium contracts are launched on Nov. 23. "The CME is trying to muscle in, get first mover advantage," said Robin Bhar, head of metals research at Societe Generale. Premiums are paid over listed cash contracts to cover the cost of freight and insurance, for immediate delivery of metal. They have tumbled this year from record highs due...
Aluminium Bahrain B.S.C (Alba), one of the world’s leading aluminium smelters, announced that it has been recently granted the environmental permission for its Line 6 Expansion Project from the Supreme Council for Environment, Kingdom of Bahrain. The environmental permission, vital to Alba’s Line 6 Expansion Project, was granted based on a detailed environmental and social impact assessments carried-out by a competent consultant and overseen by the Line 6 expansion team. To date, one of the top ten aluminium producers’ in the world, Alba’s Line 6 Expansion Project will make it the largest single site smelter in the world upon its completion. Expected to begin production in early 2019, this Project will boost the Company’s per-annum production by 514,000 metric tonnes upon full ramp-up,...
The Saudi Arabian Mining Company (Maaden), which owns the largest and most efficient vertically integrated aluminum complex in the world, will host the International Arab Aluminium Conference (ARABAL) in Dhahran on Nov. 15. This high-profile conference will discuss the current and the future challenges for the aluminum industry. "The three-day event will provide opportunities to discuss industrial integration of aluminum in the Gulf region," said Khaled bin Saleh Al-Mudaifer, Maaden CEO. He said Maaden will also present the experience of an integrated supply chain through a tour of its aluminum complex in Ras Al-Khair, demonstrating the application of the manufacturing vision from the mine to the end product." He added: “The conference will also be an opportunity to review opportunities...
In a move that could be seen as a paradox to Vedanta's move to shut down its Lanjigarh alumina refinery in the backdrop fall in global aluminium prices and lack of bauxite linkage, the company has initiated the process of stepping up aluminium production at its Jharsuguda smelter in Odisha. The company, over the next six months, plans to ramp up aluminium production at Jharsuguda facility from 0.5 million tonne to 0.8 million tonne per annum. "We had decided to shut down the alumina refinery as present operational costs sans bauxite linkage are unviable. But in case of aluminium, there was a positive cash flow till last month. Though the metal prices have dipped further, we can still produce aluminium at Jharsuguda at a cost which is about same as the selling price", said Abhijit Pati,...
Aluminium India 2015, the largest and the most important trade fair for the aluminium industry and its application fields in India, started today on September 7 at Bombay Exhibition Centre in Mumbai. The international exhibition and conference, organized by Reed SI Exhibitions Pvt Ltd, will be held here till September 9. Over 120 exhibitors comprising the biggest names in the aluminium industry from India and across the world are participating in the exhibition. Hindalco Industries and Aluminium Association of India are the associtae partners. The event, aimed at bringing the entire aluminium industry under one roof, is expected to experience a huge turnout to the tune of 7000 and above. The trade fair covers the demand of the Indian aluminum industry and open international companies...
China is planning a reshuffle of state-owned industrial assets, according to the Financial Times. The next logical step will be to shutter unviable units of their consolidated operations. If that happens, China will be doing the metals industry a big favour in the long run. The newspaper report says State Power Investment Corp. may transfer its loss-making aluminium smelters to Aluminium Corp. of China (Chinalco), adding 2.7 million tonnes (mt) to its existing smelting capacity of 3.7 mt. That is just moving things around and not tackling the real problem of oversupply and propping up of inefficient units. It will only see Chinalco become the largest aluminium producer, ahead of Alcoa Inc. and Rusal Plc. The real restructuring will be when Chinalco puts its loss-making smelters on notice....
Aluminum prices in China’s spot market will take a hit after the three-day holiday, Shanghai Metals Market foresees. More ingots will arrive at China’s major regional markets after the holiday. Meanwhile, traders that have signed term contracts will increase shipment at the beginning of the month. This will widen spot discounts to 100-50 yuan per tonne over SHFE 1509 contract. SHFE 1511 aluminum contract should range 11,700-11,900 yuan per tonne, versus $ 1,570-1,630 per tonne for LME aluminum.
Lightweight metals leader Alcoa is expanding its R&D center in Pennsylvania to accelerate the development of advanced 3D-printing materials and processes. Alcoa will produce materials designed specifically for a range of additive technologies to meet increasing demand for complex, high-performance 3D-printed parts for aerospace and other high-growth markets such as automotive, medical and building and construction. The $60 million expansion is under construction at the Alcoa Technical Center, the world’s largest light metals research center near Pittsburgh, Pennsylvania. “Alcoa is investing in the next generation of 3D printing for aerospace and beyond,” said Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld. “Combining our expertise in metal alloys, manufacturing, design and...
One of Tasmania's largest manufacturing employers says it has adapted to tough economic conditions to celebrate 60 years of operation. Bell Bay Aluminium smelter is the oldest in the Southern Hemisphere and was built in 1955, when importing aluminium became difficult. It was bought by Rio Tinto Aluminium in 1960 and now directly and indirectly employs about 1,500 people. Managing director Ray Mostogl said the company had to adjust to changing economic conditions to remain viable. "We've certainly learned how to take more risks with our operation in terms of the raw materials that we buy and the products that we try," he said. "We've chased different markets to sell metal, we send metal now to China," he added. But the global market has changed significantly. In 2011 the aluminium price...
