The London Metal Exchange (LME) aluminium price graph dropped further in the October 1 trading session, reporting major declines of 2 per cent and above across the pricing and contract segments. Stocks in the aluminium inventory remained stable for three consecutive days. The LME aluminium cash price dipped by 2.6 per cent from USD 3,203 per tonne to USD 3,119.5 per tonne. The offer price moved from USD 3,204 per tonne to USD 3,120 per tonne, representing a slightly higher 2.62 per cent plunge. Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid slumped from USD 3,208 per tonne to USD 3,130 per tonne, decreasing by 2.43 per cent. The offer...
China Steel Aluminum, a subsidiary of China Steel, will invest approximately TWD 1 billion (USD 32 million) to build a smart manufacturing plant in Kaohsiung, Taiwan. The investment was among two expansion applications approved by the Invest Taiwan Office on October 1, with a combined value of TWD 1.1 billion (USD 33 million). The new facility will be located in the Xiaogang District and focus on smart manufacturing and lower-carbon production. China Steel Aluminum, Taiwan’s largest manufacturer of aluminium rolled products, produces aluminium plates, sheets, coils and foil, as well as zinc alloy and hot-dip galvanised ingots. The investment supports the company’s shift toward high-end and low-carbon aluminium materials. The plant will integrate artificial intelligence (AI), the Internet...
Grow with
AL Circle
Aluminium prices edged up by 0.45 per cent to INR 111.50 per kg in futures trade today as participants enlarged positions amid a firming trend at spot markets on strong demand. At the Multi Commodity Exchange, aluminium for delivery in May inched up by 50 paise, or 0.45 per cent, to INR 111.50 per kg in a business turnover of 291 lots. Likewise, the metal for delivery in June was trading higher by 40 paise, or 0.35 per cent, to INR 113.30 per kg in 37 lots. Marketmen said increased domestic demand from consuming industries at domestic spot market helped aluminium futures to trade higher.
Hind Aluminium Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2015, to consider and take on record the Audited Financial Results (AFR) of the Company for the year ended on March 31, 2015. Further, pursuant to SEBI (Prohibition of Insider Trading) Regulation, 1992 read with new of SEBI (Prohibition of Insider Trading) Regulation, 2015, the Trading Window in respect of dealing in the Equity Shares of the Company will remain closed for the period from May 15, 2015 to June 01, 2015 (both days inclusive).
EPA’s proposed rules threaten to dampen the aluminum industry in Kentucky which has just started coming out of trouble. Kentucky has attracted the aluminum industry because of its abundant coal and the lowest electricity bills in the country contributing 40 percent of America’s total aluminum production. However, with the EPA targeting Kentucky’s new and existing plants, it will threaten the energy-intensive aluminum industry as well. InsiderLouisville's David Serchuk reported in an article called "Aluminum: Kentucky's fast-growing stealth mega-industry" that aluminium will soon become a preferred metal for automobile parts. He also reported that the Kentucky Center for Economic Development has projected that aluminium sheet production for vehicle body will increase from 200 million...
Aluminum prices in China are expected to take a hit in Q2 as the supply/demand imbalance will deteriorate, Shanghai Metals Market foresees. On the supply side, operational aluminum capacity in China hit 30.95 million tonnes at the end of April, up some 900,000 tonnes from the end of last year, SMM data showed. The country might add over 1 million tonnes in new capacity this quarter, SMM predicts. However, demand will not keep up pace, since June marks the beginning of the off-season for aluminum consumption. HSBC’s flash China manufacturing PMI for May was 49.1, lower than 49.3 expected, highlighting sluggishness in the manufacturing sector. This figure is a bad sign for aluminum demand.
U.S.- based Alcoa, a global leader in lightweight metals technology, engineering and manufacturing, walked away with two of the most prestigious titles at the third annual Platts Global Metals Awards, which recognize exemplary performance in a dozen categories across the steel, metals and mining complex. Snaring Metals Company of the Year and Industry Leadership Award: Aluminum, Alcoa was one of 12 honorees from four continents heralded at a black-tie gala in central London last night. The event, hosted by Platts, a leading global energy, metals and commodities information provider, was emceed by CNBC's Karen Tso and attended by nearly 200 industry executives. "We congratulate Alcoa, under the leadership of CEO Klaus Kleinfeld, for this impressive win," said Larry Neal, president of...
Prof. Dr.-Ing. Jürgen Hirsch, Senior Scientist at Hydro’s Rolled Products R&D center in Bonn, will become President of the German Society for Material Science DGM for 2015 and 2016. Jürgen Hirsch has been elected by the board and will enter office upon approval from the Member Assembly on September 16 , 2015 at the DGM Day during the Material Science Week. DGM´s Managing Board Member, Dr.-Ing. Frank O.R. Fischer, is looking forward to this cooperation and said he was sure that “Jürgen Hirsch, with his experience and standing in DGM, is an excellent choice for DGM presidency”. DGM honored Jürgen Hirsch with their prestigious Tammann Prize in 2007 and as “DGM Pioneer”– the first to get this title in the history of DGM, in 2014. Having become a student member 40 years back, he engaged in...
Press Metal Bhd said it will restart operations at its Samalaju smelting plant within a month, following a decision to cease operations after a fire incident that occurred last Sunday. The group halted trading in its shares for one hour yesterday, between 2.30pm and 3.30pm in view of the announcement. Its stock was down almost 4%, or 11 sen on the news, closing at RM2.69. Press Metal told Bursa Malaysia yesterday that it has yet to finalise the financial impact of the fire incident at the smelting plant belonging to its subsidiary, Press Metal Bintulu Sdn Bhd in Samalaju Industrial Park, Sarawak. However, the group, believes it is adequately insured pending the insurers assessment and loss survey. Press Metal said even though the fire disrupted the electricity supply to other smelting...
For seven years, he’s been one of the brains behind the materials trade fairs ALUMINIUM and COMPOSITES EUROPE. Now Michael Köhler (36) will move to Reed Exhibitions USA, where, as the new vice president, he’ll be responsible for developing and advancing the company’s portfolio of industrial shows. Among them are ALUMINUM USA and IEX USA, both of which will launch this year as spin-offs of their “German parent events”. “Michael Köhler has contributed a great deal to the global success of ALUMINIUM and COMPOSITES EUROPE, two events he’s been supporting since 2008, when he was the project manager”, says Hans-Joachim Erbel, CEO of Reed Exhibitions Deutschland GmbH. As the brand manager in charge of ALUMINIUM’s worldwide operations, he’s generated key impulses in the company’s strategy of...
A smelting plant of Malaysia's biggest aluminium maker, Press Metal Bhd, in Borneo caught fire last Sunday, the company said late on Tuesday. The company said it was unable to ascertain the cause of the fire or estimate its full impact, and that the incident did not cause any harm to any persons or any known uncontrolled emissions. The plant, which produces aluminium products, belongs to the company's 80-percent owned unit Press Metal Bintulu Sdn Bhd. Press Metal said preliminary estimates showed the impact on its earnings was not expected to be "substantial" and would be mitigated as it is adequately insured.
BHP Billiton's (BHP) new baby South32 (S32) has been christened, having commenced trading on the Australian Securities Exchange. With the much heralded listing several brokers step up to initiate coverage of the stock. At this stage, there are three Buy ratings on the FNArena database with a consensus target of $2.62, suggesting 15.0% upside to the last share price. South32 is a diversified miner, primarily exposed to aluminium and alumina, but spread across geographies, mainly Australia, Brazil and South Africa. Other commodity exposures include manganese, nickel, thermal & coking coal, silver, lead and zinc. Three attributes stand out for JP Morgan: valuation, management and gearing. More than half of the broker's earnings estimates are driven by aluminium and alumina, with the...
May 19 Cable and wire manufacturer Southwire has taken steps to ensure supplies to its Kentucky rod plant continue, a spokesman said on Tuesday, as a lockout at supplier Century Aluminum Co's nearby smelter enters its second week. "We have taken steps to ensure that we have an adequate supply of aluminum, and we are continuing with current production plans," spokesman Gary Leftwich said on Tuesday, without disclosing further details. Southwire, which buys aluminum from Century's Hawesville smelter for its aluminum rod, wire and cable plant next door, used to own the plant, but sold it to Century in 2001. Unionized workers have been locked out of the 244,000-tonne-per-year smelter since last Tuesday after they rejected for a third time a labor deal agreed between the union's negotiating...
Union workers that are locked out of the Century Aluminium say they want to restart negotiations however no dates have yet been fixed. President of the United Steelworkers Local 9423, Andy Meserve says they want a deal not a lock out, representing more than 560 locked out workers at the smelter. Century spokesperson, Kenny Barkley said on Tuesday that they were "committed to the bargaining process" and the last offer made to the workers still stands in case they want to reconsider it, Meanwhile, Century has hired some temporary, non-union workers to operate the smelter during the lock out so that there is no disruption in the production. The company has already made three offers to the workers over the course of six weeks of negotiation after the expiration of the previous five-year...
Boyne Smelters Ltd can now focus on expansion plans after an announcement it would be exempt from the national emissions scheme. This week the Federal Government finalised a deal to remove trade-exposed industries from the renewable energy target scheme. The bipartisan deal means BSL has avoided a $25 million annual fee for its carbon emissions. General manager Joe Rea said the move had not only helped secure the future for Australia's manufacturing industry but would help the business expand. "We are looking at how we can operate line one more efficiently," Mr Rea said. "We've been putting together a case to justify that and I know this decision will only help that business case." Since the scheme was introduced in 2001, BSL has paid $125 million to the RET scheme. The smelter is one of...
Press Metal Bhd ( Financial Dashboard) shares dropped 10 sen or 3.39% to RM2.85 this morning on the heels of a drop in prices of the aluminium futures contract as it is being weighed down by growing supplies. At 12.30pm, a total of 3.18 million shares were traded. Press Metal (fundamental: 0.95; valuation: 2) shares reached a high of RM2.98 and a low of RM2.84. Reuters reported today that metal prices are trading lower as the stronger US$ adds pressure on base metals. The three-month future contract for aluminium traded at US$1,817 on Monday, the lowest since April 24. It traded at US$1,820 compared to US$1,853 last Friday. The current prices of aluminium are below producing costs outside China, which could persuade producers to slash capacity. Reuters said ample supplies of aluminium can...
The 33rd International Conference and Exhibition of ICSOBA will be held in Dubai at the Rotana Al Murooj hotel in the period of 29 November to 1 December, 2015. The selection of Dubai follows ICSOBA’s practice of rotating the venue of International Meetings to countries that play an important role in the global aluminium industry. The resulting scientific and technical material of the conference is published in TRAVAUX volumes. For the event ICSOBA cooperates with Emirates Global Aluminium (EGA). Plenary Speakers The list of confirmed plenary speakers at present includes: Dr Ali Al Zarouni - Vice-President Principal, Operations, EGA Dr Li Wangxing - Chief Engineer, CHALCO Claude Vanvoren - Vice President of Technology, R&D, Rio Tinto Limited Viktor Mann - Technical Director, UC RUSAL...
Goldman Sachs Group predicts a not so rosy future for aluminium as aluminium prices are expected to fall along with production cuts after record production levels from the world’s biggest producer. China too continues to add to the world’s aluminium production making surplus a major concern. The bank states that China “cannot be relied on” to cut back on their production so even a decline in price will not be able to balance out the market as China produces a record amount of 2.59 million tons of aluminium in April, according to the National Bureau of Statistics. Aluminium average price for three-month delivery is likely to be around $1,800 a metric ton for the year on LME, predicts Goldman while global smelters will consider production cuts when prices drop below $1,875 including...
More than 550 United Steel Workers union members are still picketing outside a Century Aluminum plant in Hawesville. The two sides, we're learning, are no closer to a resolution. A vending machine supplier is fighting rumors that it crossed picket lines to service Century Aluminum's snack machines. Canteen Service Company officials would not go on camera, but say the rumors aren't true. Monday, company officials released a statement. They say the labor disagreement between the union and Century Aluminum is unfortunate, but it only exaggerates the problem when rumors like this spread. Canteen Service Company also says they hope there is an early resolution to the disagreement. The company is not legally bound by the union's lockout. However, they are choosing not to cross the picket lines...
The share price of South32, BHP Billiton's spin-off, is the best performer on the ASX on its second day of life as a listed entity. South32 contains a bunch of assets and commodity exposures BHP considered to be "non-core". These include aluminium and manganese, as well as coal and nickel exposures, leaving "The Big Australian" to concentrate on its four pillars of iron ore, copper, petroleum and coking coal (and potash as a potential fifth). Monday marked the first day of trading for South32 as a separate entity, and it was a lacklustre debut. The stock opened at A$2.13, rose as high as A$2.22 and closed at A$2.05. That puts its toward the bottom end of most analysts' valuation range. The slimmed-down BHP closed 0.8 per cent lower on Monday to A$30.13, meaning the combined value of the...
