Aluminium prices came under renewed pressure on October 1 as expectations of improving supply, stronger Chinese exports and a firmer USD weighed on the market. Aluminium settled 0.73 per cent lower at INR 340.65, while expectations of tighter US monetary policy added to the broader macroeconomic pressure. The decline comes as several aluminium smelters prepare to restart previously idled capacity, while others move ahead with expansion plans. These developments are raising expectations that global aluminium availability could improve in the coming months. China exports add to supply pressure China is emerging as another important factor for the aluminium market. Rising exports are partly offsetting supply disruptions in the Gulf, with August aluminium exports increasing 17.2 per cent...
According to SMM statistics, on September 30, aluminium billet inventory in major consuming regions in China stood at 149,500 tonnes, up 500 tonnes WoW from last Thursday and down 5,000 tonnes from this Monday, with inventory consolidating at highs and basically flat overall. On a year-over-year basis, inventory was about 35,000 tonnes higher than the same period in 2025 and about 41,000 tonnes higher than the same period in 2024, with total inventory still at the highest level for the same period in the past four years. From the perspective of warehouse withdrawals, aluminium billet withdrawals from September 21 to September 28 totalled 44,800 tonnes, holding near 45,000 tonnes for two consecutive weeks. By region, Foshan inventory stood at 69,500 tonnes, down 3,000 tonnes from last...
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Aluminium settled down -0.25% at 101.25 as prices of major traded-metals tumbled to multi-year lows since last month as weak Chinese manufacturing data added to the brew of excess supply and a strong dollar that has put pressure on several commodities. China’s consumption of industrial metals fueled a more-than decade-long rally in prices after the turn of the century. But concern over the nation’s slowing economic growth has caused metals prices to start sliding over the last twelve months. Data out already shows Japan’s preliminary GDP dropped 0.4 percent q/q, which was slightly better than the 0.5 percent fall expected, but it was the first quarter-on-quarter fall after two quarters of positive GDP. The GDP price index also rose less than expected. Data out later included the EU trade...
Aluminium gained 0.49 per cent to INR 103.40 per kg in futures trade after speculators widened positions amid positive cues from global markets. Besides, increased demand at domestic spot markets influenced prices. At the Multi Commodity Exchange, aluminium for delivery in August rose 50 paise, or 0.49 per cent, to INR 101.75 per kg in a business turnover of 188 lots. Also, the metal for delivery in September traded higher by 40 paise, or 0.39 per cent, to INR 103.40 per kg in seven lots. Market analysts said the rise in aluminium prices at futures trade was mostly supported by a recovery in metal at the London Metal Exchange and rising demand at spot markets here.
Hind Aluminium Industries has reported a standalone total income from operations of INR 188.35 crore and a net profit of INR 2.58 crore for the quarter ended Jun '15. Other income for the quarter was INR 0.33 crore. For the quarter ended Jun 2014 the standalone total income from operations was INR 81.17 crore and net profit was INR 0.87 crore, and other income INR 1.31 crore. Hind Aluminium shares closed at 76.40 on August 14, 2015 (BSE) and has given 57.20% returns over the last 6 months and 64.83% over the last 12 months.
Aluminum dropped to the lowest since 2009 as demand concerns mounted on the outlook for slower growth in China, the world’s biggest user. Stocks in Shanghai tumbled the most in three weeks as Chinese investors lowered expectations for further monetary stimulus after data showed home-price gains are spreading. The Asian nation, which consumes about half of aluminum, is growing more slowly than official data suggest. “China’s sharply lower stock prices makes everyone nervous, and the overall situation for copper is concern that global demand is going to continue to deteriorate,” said Bill O’Neill, a partner at Logic Advisors in Upper Saddle River, New Jersey. “The Chinese situation is crucial for metals in general, and there’s little incentive to buy the market.” Aluminum fell as much as...
Indian aluminium producers such as Vedanta and Hindalco will meet officials at the Prime Minister's Office and policy think tank NITI Aayog this week to press for higher import duty on aluminium in the face of falling global prices. The domestic industry leaders will meet the mines secretary on Wednesday and the PMO and NITI Aayog on the following two days, industry insiders said. International aluminium prices had fallen to $1,523 per tonne on the London Metal Exchange on Tuesday, down from $2,200 in over a year. The Aluminium Association of India said increasing imports have led to the share of domestic producers dropping to 45% in 2014-15 from 60% in 2010-11. The association has been lobbying for a doubling of duty from 5% to 10%, and for 10% duty on aluminium scrap. In a statement in...
Century Aluminum has announced several cost reduction initiatives during its 2Q15 earnings call. Several mining companies, including Freeport-McMoRan, have announced such initiatives. As commodity prices from aluminum to copper are testing their multi-year lows, cutting down on every possible cost has become imperative for companies operating in this space. The company is expecting annualized cost savings between $15 million and $20 million from a headcount reduction. A similar amount is expected from a reduction in operating expenses. Century Aluminum is also expecting annualized savings of $5 million to $10 million each from lower raw material costs and closure of the Ravenswood plant. According to Century Aluminum, it has negotiated some price concessions with its power suppliers. As...
Vedanta Ltd, the mining and oil and gas arm of Anil Agarwal’s Vedanta Resources Plc., plans to raise INR 2,000 crore by issuing non-convertible debentures (NCDs) in a bid to refinance a part of the company’s debt, the company informed the stock exchanges on Monday. This issue is part of the overall approval to raise INR 8,000 crore given by its board and its shareholders during the company annual shareholders’ meet held on 11 July 2015. “Vedanta Ltd is subject to favourable market conditions in the process of issuing Secured, Rated, Non-Cumulative, Redeemable Non-Convertible Debentures (NCDs) of INR 10,00,000/- (Rupees Ten Lakhs Only) each up to INR 2000,00,00,000/- (Rupees Two Thousand Crores Only) on Private Placement basis,” the company said in its statement. The NCDs will be listed on...
Romanian aluminium producer Alro S.A. posted an adjusted net profit of RON 113 million (EUR 25.58 million) as a result of cost cutting and increase of income during the first half of 2015, shows a company financial report. In H1 2014 the company had registered an adjusted net loss of RON 80 million (EUR 18.11 million). Alro also increased its turnover to RON 1.2 billion (EUR 270 million), against the H1 2014 value of RON 966 million (EUR 218.65 million). EBITDA (earnings before interest, taxes, depreciation, amortization and impairment) saw a positive upturn to RON 214 million, compared to RON 3.04 million, in H1 2014. Its production saw rises for the first half of the year both in primary aluminium production (134,760 tonnes against 127,605 tonnes in H1 2014) and processed aluminium...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium smelters, is on schedule with its cost-improvement programme - Project Titan. Project Titan, launched in February 2014, is a 2-year programme that aims at reducing Alba’s cash cost by $150/mt. At the end of June 2015, the programme has unlocked $129/mt of savings and Alba is on track to achieve the set target of $150/mt by January 2016. Directed by Alba’s Chief Executive Officer, Tim Murray, Project Titan was launched to ensure that Alba maintains its position as one of the leading, low cost producers in the aluminium industry. Commenting on the Project, Mr. Murray said: “Project Titan is not just a cost-cutting programme; it is also a training programme where we leverage the use of our operational excellence expertise...
LME aluminum will fall to $ 1,550-1,580 per tonne this week, Shanghai Metals Market foresees. Expectations are running that that Chinese aluminum semis will flood into overseas market after Chinese yuan depreciated. This, combined with strong resistance at moving averages, will pressure LME aluminum. SHFE 1510 aluminum might drop to 19,950-12,150 yuan per tonne, as production cuts are insufficient to offset slowing consumption. In China’s spot market, spot discounts will widen to 40-80 yuan per tonne over SHFE 1508 contract.
Lower metal realisation, high finance and depreciation costs have hit the aluminium maker Hindalco's bottomline as it reported a 67 per cent drop in the standalone net profit at INR 107.19 crore for the quarter ended June 30. The flagship firm of the Aditya Birla Group had clocked a net profit of INR 327.50 crore in the year-ago period. Standalone revenue of the company was up 7 per cent to INR 8,575.27 crore in April-June quarter of this fiscal from INR 7,996.14 crore in the same quarter of 2014-15. "The revenue was up mainly on the back of higher volume despite lower commodity prices. The company reported strong operational performance in Q1FY16, but external environment has worsened significantly," Hindalco Managing Director D Bhattacharya told reporters here. The realisations have...
Manaksia Aluminium Company has reported a standalone total income from operations of INR 78.10 crore and a net profit of INR 1.10 crore for the quarter ended Jun '15. Other income for the quarter was INR 0.31 crore. For the quarter ended Jun 2014 the standalone total income from operations was INR 57.68 crore and net profit was INR 0.09 crore, and other income INR 1.19 crore. Manaksia Aluminium shares closed at 4.55 on August 13, 2015 (NSE) and has given -74.72% returns over the last 6 months and -74.72% over the last 12 months.
The official programme for the European Aluminium Congress 2015 (EAC) is set. The Gesamtverband der Aluminiumindustrie e.V., Düsseldorf, (GDA) is holding the congress on 23 and 24 November 2015 in Düsseldorf on the subject of "Aluminium - Building the Future". The EAC 2015 is organised within the "D-A-CH, Allianz für Aluminium" in cooperation with the Swiss aluminium association "alu.ch" and the Austrian Non-Ferrous Metals Federation. Registration for the event has already begun. Over two days the EAC congress "Aluminium - Building the Future" will look at the key factors for the future success of the entire aluminium added value chain. On the first day of the congress, high-ranking representatives from the aluminium industry, the customer industries and a representative from the EU...
Aluminium prices fell 0.64 per cent to INR 101.65 per kg on Multi Commodity Exchange (MCX) on Thursday after traders reduced their exposure amid weak global cues. Besides, sluggish demand in the domestic spot market weighed. At MCX, aluminium for delivery this month eased 65 paise, or 0.64 per cent, to INR 101.65 per kg in a business turnover of 181 lots. Similarly, the metal for delivery in September traded lower by 55 paise, or 0.53 per cent, to INR 103.30 per kg in nine lots. Marketmen said the weakness in base metal pack at the London Metal Exchange (LME) as China's yuan slid for the third day after its worst loss since 1994 and muted demand at the domestic spot market kept up the pressure. Meanwhile, aluminium prices fell 0.3 per cent at LME.
Century Aluminum Company reported a net loss of $33.9 million ($0.39 per common share) for the second quarter of 2015. Results include a $30.9 million impairment charge ($0.35 per common share) related to the permanent closure of our Ravenswood smelter and a $25.7 million charge ($0.30 per common share) for lower of cost or market inventory adjustments. Results were also negatively impacted by $11.7 million ($0.13 per common share) in costs related to the labor disruption at our Hawesville smelter. Lastly, results include a $10.3 million ($0.12 per common share) unrealized gain on the fair value of contingent consideration related to the acquisition of the remaining 50.3% interest of Mt. Holly. After consideration of these items, the company reported adjusted net income of $24.1 million...
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 is on lower side. World Aluminium markets that showed record production numbers in the month of May 2015 declined slightly in the month of April 2015. Data estimates from International Aluminium Institute (IAI) showed that the total primary Aluminium production reached 4.90 million tonnes in June 2015 against 4.93 million tonnes in the month of May 2015. This marks an increase of 12.6% during the period of one year. The production increased 0.40% on a monthly basis in June 2015. The production of Aluminium in June 2014 was 4.35 million tonnes. China remained the major contributor to the production along with...
Hindalco Industries shares fell over 7 per cent to hit intraday low of Rs 95.55 after its subsidiary Novelis, which contributes around 50 per cent to its consolidated revenues, reported weak earnings for the June quarter. Novelis, which is world's largest recycler of aluminium posted a net loss of $60 million for the April-June quarter compared to a net profit of $35 million in the corresponding quarter of last fiscal on account of lower average aluminium prices. Its revenue fell 2 per cent annually to $2,634 million against $2,680 million year-on-year. Novelis' EBTDA or operating profit came in at $127 million against $228 million last year. Average realisation per tonne of Novelis fell 7 per cent sequentially to $3,430 from $3,679 in the March quarter, impacting its profitability....
China’s ballooning exports of aluminum will probably get even bigger because of the surprise yuan devaluation. The country is the world’s biggest producer of the metal, which is used in everything from beverage cans to airplanes. Many Chinese producers haven’t cut output even amid slumping prices, partly because of government subsidies, according to Goldman Sachs Group Inc. Domestic demand has weakened at the same time, spurring a flood of aluminum to the global market. China’s shipments in 2015 through July surged 28 percent from last year, to a record. With this week’s yuan devaluation, the aluminum market should brace itself for even more supplies, because the weaker currency will lower domestic production costs. “It’s clearly bearish, because at the margin, it lowers domestic cost of...
