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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Non-ferrous metals producer Hindalco is in talks with banks to refinance around R7,000 crore of loans for two projects - Aditya Aluminium and Utkal Alumina International (UAIL) - under the Reserve Bank of India’s (RBI) 5/25 scheme, two bankers aware of the development told FE. “Although the company’s financials are not really stressed at the moment and it has been repaying its loans on schedule, it wants to free up some liquidity by stretching loan repayments,” a banker explained, adding that the refinance has not yet been approved. The Aditya Aluminium project comprises a R13,000-crore smelter-power plant complex at Lapanga in Sambalpur district of Odisha with a smelter capacity of 3,60,000 tonnes. The UAIL project in Rayagada district, Odisha, comprises a 1.5 million tonnes per annum...
Aluminium futures traded a shade higher at INR 104.50 per kg, largely in tandem with a firming trend in base metals at the London Metal Exchange (LME). Besides, increased demand at domestic spot markets also influenced prices. At Multi Commodity Exchange, aluminium for delivery this month rose 60 paise to INR 104.50 per kg in a business turnover of 544 lots. Metal for delivery in August contracts also rose by a similar margin to trade at INR 106.20 per kg in 51 lots. Market analysts said the rise in aluminium prices in futures trade was mostly due to a firming trend in base metals at the LME and rising demand at the domestic spot market here.
The Board of Directors of Hind Aluminium Industries Ltd at its meeting held on May 30, 2015, have recommended a Final Dividend of 15% on the equity shares of the Company for the year ended March 31, 2015. (Previous year @ 15%). The Register of Members & Share Transfer Books of the Company will remain closed from August 25, 2015 to August 27, 2015 (both days inclusive) for the purpose of Payment of Final Dividend & Annual General Meeting (AGM) of the Company. Shares of HIND ALUMINIUM INDUSTRIES LTD. was last trading in BSE at Rs.67 as compared to the previous close of Rs. 67.1. The total number of shares traded during the day was 1308 in over 17 trades. The stock hit an intraday high of Rs. 68.7 and intraday low of 64.5. The net turnover during the day was Rs. 87543.
Rusal has no intention of restarting aluminum smelters idled in 2013 and sees its aluminum output this year to be flat with 2014, it said in its quarterly report. The aluminum giant produced 908,000 tonnes of aluminum in Q2, up 0.8% quarter-on-quarter (QoQ) and 1.1% year-on-year. However, its aluminum sales fell 5.1% QoQ to 880,000 tonnes in Q2. It attributes the decline to higher-than-normal sales in Q1 2015. The average price fell 7.7% QoQ to $ 2,124 per tonne in Q1, due to lower LME cash prices and falling physical premiums across key export markets.
Aluminium Bahrain B.S.C. (Alba) announced the release of its second quarter and first half of 2015 results on Wednesday, July 29, 2015. Commenting on Q2 & H1 2015 Results, the Chairman of Alba’s Board of Directors, Daij bin Salman bin Daij Al Khalifa: “Alba was able to outperform the industry and continue to deliver on Safety. We plan to use this positive momentum as we gear-up for Line 6 Expansion Project which will make Alba the largest single-site aluminium smelter in the world.” Alba’s Chief Executive Officer, Tim Murray added: “Alba continues to excel in what we control -- which is Safety, Production and Cost. As we look ahead for the remainder of 2015, we see a large drop in the all-in-aluminium prices; however, we expect to deliver solid results despite these challenges.” Alba's...
Vedanta Limited (formerly known as Sesa Sterlite Ltd./Sesa Goa Ltd) today announced its unaudited consolidated results for the first quarter ended 30 June 2015. A summary of the results below: Financial Highlights: • Revenues at INR 16,952 crore • EBITDA at INR 4,039 crore is flat sequentially; EBITDA margin1 at 31%, improvement sequentially from 28% • Attributable PAT at INR 866 crore, 76% higher sequentially • Strong balance sheet with Cash & Cash Equivalents of over INR 47, 000 crore Aluminium section reports record quarterly aluminium production notwithstanding domestic and international weaker markets. Mr. Tom Albanese, Chief Executive Officer, Vedanta Limited, said: "In Q1 we saw continued volatility in commodity prices, but Zinc has held up quite well in view of its strong...
Noranda Aluminum Holding Corporation announced today that it has received written notice from the New York Stock Exchange that the Company is not in compliance with one of the NYSE's continued listing standards because the average closing price of its common stock was less than $1.00 per share over a 30 consecutive trading day period. The Company also announced today that it has set August 24, 2015 as the date it will hold a special meeting of stockholders to seek approval of an amendment to its amended and restated certificate of incorporation that would effect a previously announced proposal for a 1-for-7 reverse stock split of its common stock (the "reverse stock split") and a similar reduction in the number of authorized shares of its common stock. Proxy materials regarding the...
Jinjiang Group has reached a consensus with the government of Qianxinan Prefecture, Guizhou Province, to build a coal-electricity- aluminum project in Xingren County. The vertical project consists of 2 million-tpy aluminum liquid, 4 million KW power generating units and supporting aluminum processing facilities. The project will be built in three phases, with phase one targeting 500,000-tpy aluminum liquid production.
US mines have produced 142,000 tons of primary aluminium in May this year, according to latest data from the U.S. Geological Survey (USGS). The average daily production was 4,570 tons in May, essentially the same as the daily production during the preceding month but 3% less than that in May 2014. Total aluminum recovered from scrap in May 2015 was 286,000 tons, 5% less than that recovered in April and 7% less than that in May 2014.
China imported 7,100 mt of primary aluminum in June, down 51.63% YoY, but up 5.97% MoM, customs data showed. Imports totaled 53,800 mt in H1, plunging 76.31% YoY. Aluminum premiums in Japan fell to a six-year low of around USD 100/mt for Q3 shipment. The SHFE/LME aluminum price ratio climbed to above 7.3. Both factors offered incentive for imports, which explained the MoM rise in import volumes. SMM expects China’s primary aluminum imports to stay low for the rest of the year on depressed domestic and overseas aluminum market. Overcapacity persists in domestic aluminum market, and flooding of Chinese aluminum semis has grown overseas supply.
UC RUSAL, a leading global aluminium producer, announced its operating results for the second quarter 2015. Key highlights: Total aluminium output amounted to 908 thousand tonnes (+0.8% QoQ and +1.1% YoY in 2Q15). The company maintains production discipline in accordance with the previously provided guidance. Sales volumes in 2Q15 amounted to 880 thousand tonnes (-5.1 % QoQ). Decrease in sales volumes in 2Q15 resulted from the higher than normal sales in 1Q15 when shipment delays caused by port weather conditions in October to November 2014 were compensated. The average realized price went down 7.7% QoQ to USD2,124/tonne in 2Q15 driven by lower London Metal Exchange (“LME”) cash price and declining physical premium across key export markets. RUSAL volume of alumina production remained...
Senior managers at Vedanta have been meeting every quarter over the past one year to discuss new ideas and exchange notes with chief executive Tom Albanese on the next possible big innovation at the natural resources conglomerate. The executives are members of the 'innovation task force' which has a clear brief to increase the number of patent filings and bring down the cost of production by using disruptive technology. The task force, chaired by Albanese and comprising of five other senior officials, is supported by a dedicated team working at each location to promote creative and innovative culture across the group, the company said. "Anil Agarwal is very focused on the importance of exciting young engineers thinking outside the box and be seen to be using disruptive technology,"...
Aluminium Bahrain B.S.C (Alba), one of the world’s leading aluminium smelters, underlined its long-standing commitment to employees’ safety with the launch of its new campaign titled “Together we can beat the heat” on Thursday, July 23, 2015. The campaign’s opening ceremony was attended by Alba’s CEO - Tim Murray, other Executive Management and Chairman of Alba Labour Union - Ali Al Binali along with other representatives of Alba Labour Union. An initiative by Alba’s Management, this campaign aims to improve safety awareness amongst the employees and minimise heat stress related injuries by focusing on four main steps: know the symptoms, drink water regularly, use the cooling cloth and take frequent breaks. This campaign will include several visits in the coming few weeks by members of...
"More aluminum smelters have joined recent wave of production cuts, bringing total idled aluminum capacity in China to 1.83 million tonnes since late last year, SMM’s latest statistics showed. Will aluminum prices draw support? Capacity expansions and slowing consumption will pressure aluminum prices for the rest of the year, SMM’s aluminum research team said. Another 1 million tonnes of aluminum capacity might be shut down later this year, SMM estimates. The lost production, however, will be more than offset by coming online of over 2 million tonnes of capacity in H2. Besides, aluminum consumption in H2 is expected to be weaker than in H1 since aluminum semis exports might not be as strong as in H1, another drag on the light metal. " Aluminium fell 0.14 per cent to Rs 104.80 per kg in...
Ending a years-long battle with public officials, former employees and utility companies, Century Aluminum announced at 8 p.m. July 27 it will permanently close its Ravenswood, WV plant, effective immediately. The Ravenswood smelter had been idled since February 2009, putting 650 employees out of work. The company eventually eliminated health insurance coverage for its retirees after the closure. “The decision to permanently close the Ravenswood plant is based on the inability to secure a competitive power contract for the smelter, compounded by challenging aluminum market conditions largely driven by increased exports of aluminum from China,” Century’s statement reads. “As a result, the economics of restarting and operating the facility are unfavorable.” WV Gov. Earl Ray Tomblin issued a...
The Saudi Arabian Mining Company, Ma'aden, which owns the largest and most efficient vertically integrated aluminium complex in the world, is hosting the 19th International Arab Aluminium Conference, ARABAL in November 2015. Featuring international participation, the conference is scheduled to take place from 15-17 November 2015 at the Dhahran International Exhibitions Center in the Eastern Province of the Kingdom of Saudi Arabia. While the conference will focus on" the integration of the upstream and downstream aluminium industry across the GCC", it will also discuss topics related to the future of the global aluminium industry, promoting cooperation between producers and consumers, in order to achieve the common objectives of the participants in this gathering and the aluminium industry...
With domestic and global market for metal witnessing sluggishness, National Aluminium Company Limited (NALCO), a Navaratna central public sector unit, is looking at exploring virgin markets for its products on foreign soil, besides attempting to increase its footprint in mining sector. “It is difficult period for ferrous and non-ferrous industries. As high as 60 per cent of these industries have reported loss worldwide. Despite prevailing unfavourable conditions, NALCO has been maintaining profitability. We need to tide over the situation by way of reaching out to new and virgin markets,” said T. K. Chand, who took as the full-time Chairman and Managing Director of NALCO, here on Monday. “The domestic aluminium market appears to be saturated. Expanding market network involves high cost....
Vedanta Ltd has said it stands by the share swap ratio, proposed as part of the plan to merge Cairn India Ltd with itself, despite a near 30% fall in the share of Vedanta since the merger was announced last month. “Swap ratio is not only based on the market prices of the shares but it also take into consideration various other factors such as intrinsic value of the companies taking into account the long term assessment of the business. Nothing has changed on those factors post announcement for valuers to change their report,” said Tom Albanese, chief executive officer of Vedanta, in an emailed reply to Mint. Since the announcement of the proposed merger on 14 June, Vedanta shares have fallen 27% due to concerns over its aluminium business. Cairn shares have done relatively better and...
