Four days to go, and the aluminium world is getting ready to move to Düsseldorf. From October 6-8, the city will host ALUMINIUM 2026 , with more than 800 exhibitors and partners and over 21,000 trade visitors expected at Messe Düsseldorf. The event will bring together producers, recyclers, downstream manufacturers, technology providers, equipment suppliers, policymakers and end users from across the global aluminium value chain. The 2026 edition comes at an important point for the aluminium industry. European producers are facing pressure from energy costs, international competition and tighter climate requirements, while concerns around raw material security and resilient supply chains continue to grow. At the same time, demand for aluminium is expanding across electric mobility,...
The Aluminum Association launched “America Needs Aluminum,” a new public awareness and advocacy campaign highlighting aluminum’s essential role in the US economy and calling for policies that help America make, recycle and build more with this critical material. The campaign centers on a straightforward message: America needs aluminum - let’s make more of it here. It builds on the association’s broader “all-of-the-above” strategy for aluminum supply, which calls for expanding both recycled and primary aluminum production, strengthening domestic manufacturing, improving energy availability and aggressively confronting unfair trade. “Aluminum is essential to nearly every part of modern American life - from our cars, homes and packaging to the power grid, fighter jets and advanced...
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Chinese aluminium production in the first two month of 2015 showed a growth of 6.8% compared to last year and has been the slowest start to a year since 2009. Bloomberg had forecasted the growth this year would be around 7.7%. The latest data was released by the National Bureau of Statistics on Wednesday in Beijing. Due to irregular trade during the week-long Lunar New Year holidays, the industrial data including output, retail sales and fixed asset investments are combined for the month of January and February. The Lunar holidays occur at differing dates each year and started on Feb 18 this year. “The data shows demand for January and February was weak, but it also reflects production cuts,” said Helen Lau, a Hong Kong-based analyst at Argonaut Securities. “There is still room for the...
Century Aluminum Company First Call has rated the counter a Hold. The rating recommendation was disclosed in the First Call research information. Century Aluminum Company stock has received a short term price target of $ 22.17 from 6 Analyst. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $6.18. The higher estimate of target price is $31 , while the lower price target estimate is $14 Century Aluminum Company dropped 4.17% or 0.67 points in the stock market. After opening the day at $15.51, enthusiastic buying supported the stock to a high of $15.79, from whereon serious profit booking came into action. The counter finally ended at $15.41 with the volume soaring to 3,698,894 shares. The closing level of the...
Columbia Falls may know by autumn whether the now-closed aluminum smelter there will become a Superfund site. Last Tuesday the owners of the Columbia Falls Aluminum Company announced the smelter is permanently closing. The next day the Environmental Protection Agency notified Governor Steve Bullock it proposes to add the plant to its priority list of industrial sites that should be cleaned. "Investigation has shown that there are contaminants that potentially could impact human health and the environment at the site. A listing on the National Priorities List identifies sites where additional information is needed" said EPA's Cynthia Peterson. Smelter officials oppose a Superfund listing, describing it as slow and stigmatizing. EPA say the Priorities list proposal will be added to the...
According to a recent research, the unexpected advancement in the Chinese aluminium industry has caused noticeable damage to western firms like Rio Tinto. Rio had acquired the Canadian giant Alcan in 2007 and justified the purchase by the expectation that China would soon stop producing, shutting down unproductive smelters and start importing causing the aluminium prices to improve. However China instead of ceasing production, stepped up production aided by government subsidies which has causing the total aluminium production to double since 2007, says the former executive of Rio Tinto. This continued expansion kept the price of the metal low which did not experience a dramatic rise even at the heights of the boom. This has caused Rio Tinto to sell off down two-thirds of its $US38 billion...
South Korea has paid the smallest premium in more than a year to source aluminium, the results of a tender showed on Wednesday, the latest sign of intensifying pressure on premiums that is putting the operations of global producers under threat. South Korea bought 1,000 tonnes of aluminium to be sourced from India and another 1,000 tonnes from Australia for May 24 shipment via two tenders closed on Tuesday, the state-run Public Procurement Service said on its website. K Commodity Co Ltd won both bids by offering to accept premiums of $330 per tonne, CIF Incheon, over London Metal Exchange (LME) prices. The drop in premiums is likely to boost headwinds for aluminium producers, who receive the delivery surcharge on top of LME cash prices. The drop represents a 7 percent fall from a $355...
Noranda Aluminum Holding Corporation announced it has joined in a rate design agreement with consumer groups in the Missouri Public Service Commission ("PSC") general electricity rate case for Ameren Missouri. The consumer agreement remains subject to approval by the PSC as part of the Ameren rate case, which is expected to be decided by May 31, 2015. Among other provisions, the consumer agreement establishes a new electricity rate structure for Noranda's aluminum smelter in New Madrid, Missouri. The proposed smelter rate structure has a ten-year term, an initial rate of $34 per megawatt hour, and exempts the smelter from fuel adjustment charges. Compared to rates in place during 2014, at full production the proposed smelter rate structure would have reduced the smelter's electricity...
A meeting of the Board of Directors of National Aluminium Company Ltd will be held on March 12, 2015, to consider declaration of interim dividend for the Financial Year 2014-15. March 19, 2015 has been fixed as the Record Date for the purpose of Payment of Interim Dividend. Shares of NATIONAL ALUMINIUM CO.LTD. was last trading in BSE at INR 48.75 as compared to the previous close of INR 49.85. The total number of shares traded during the day was 91207 in over 1085 trades. The stock hit an intraday high of INR 49.9 and intraday low of 48.5. The net turnover during the day was INR 4469039.
As the fate of RET still remains in the dark, Tomago Aluminium is making fresh attempts to urge the MPs and senators to reach a final decision on the case soon requesting a 100 percent exemption for the aluminium industry to be effective from January 1, 2015. The energy-intensive aluminium industry has been the biggest sufferer having paid more than $500 million in Renewable Energy Target (RET) costs already (since 2001) with Tomago alone has paying $120 million. Matt Howell, the CEO of Tomago says that the extra cost imposed by RET had been difficult to digest at a time when aluminium was already suffering. “The Renewable Energy Target costs us around $25 million per annum at Tomago. Affordable energy is critical for aluminium smelters. Removing regulatory costs, such as the RET, would...
Sesa Sterlite, the metals, mining and energy firm has released its revised capital expenditure (capex) for the new financial year (2015-16) cutting costs to $1 billion from $2 billion planned last year. Cairn India bears the bigger brunt of the cost cuts with their capex reduced to $500 million from the previous $1.2 billion due to low prices of crude oil. Even the Gamsberg zinc mining project company in South Africa will witness a reduced capex from $250 to $80 million. The chief financial officer of Sesa Sterlite, D.D. Jalan has confirmed the cost cuts and told the investors that 80% of the allotted $1 billion will be utilized in the core businesses of oil and gas while the remaining 20% will be spread between the zinc, aluminium and power business. The falling commodity prices led by...
China imported 5,216 mt of primary aluminum in January, plummeting 90.5% YoY, but soaring 3,359 mt or 180.89% MoM, customs data showed. The SHFE/LME aluminum price ratio rose above 7.0 in December from 6.7 in November, favoring imports. Moreover, falling aluminum premiums in overseas markets helped cut imports costs for Chinese buyers, another incentive for imports. Aluminum capacity expansions in India and growing exports of aluminum semis by China have sent spot premiums in Europe down to USD 300/mt from USD 500/mt. Premiums in North America and Asia are also falling.
Hydro has entered into a contract with Multiconsult for engineering services for the planned pilot plant at Karmøy. The Karmøy pilot aims to verify the world's most energy and climate efficient electrolysis technology. The contract covers the engineering design of demolition work, a new potroom, rectifier and transformer substations, power distribution, infrastructure and support systems. "This contract marks an important step towards the implementation of the Karmøy pilot, which will enable us to roll out the next generation of aluminium production technology," says Hilde Merete Aasheim, head of Primary Metal in Hydro. Last month, Hydro made a formal investment decision to develop a full-scale pilot plant in Karmøy, to confirm the feasibility producing the most energy and climate...
While Alcoa is busy reviewing its upstream portfolio to cut back costs and production through sale or closure, Alumina Limited says that the Portland aluminium smelter in New Zealand is safe from scrutiny. The Portland plant, which is a joint venture between Alcoa, Alumina Limited, China’s Citic group and Japan’s Marubeni, produces 358,000 tons of aluminium per year. Although Alcoa has cut back, closed or sold 1.3 million tons of annual smelting since 2007, the New Zealand plant does not seem to be in any immediate danger. Alcoa has announced on Friday that they will be looking through 500,000 tons of annual smelting capacity and 2.8 million tons of refining capacity for sale or closure, putting the fates of the three Alcoan refineries in West Australia is uncertainty.
Hindalco Industries rose 0.54% to INR148.70 at 9:15 IST on BSE after the company won the Dumri coal block in Jharkhand at Rs 2,127 per tonne on the third day of coal auctions for schedule III category mines held on Saturday, 7 March 2015. The stock hit a high of INR 150 and a low of INR 148 so far during the day. The stock hit a 52-week high of INR 198.70 on 25 July 2014. The stock hit a 52-week low of INR 112.15 on 5 March 2014. The Dumri coal block has a total extractable reserve of 40.854 million tonnes. The coal ministry has started auctioning coal blocks after the Supreme Court in September last year cancelled the allocation of more than 200 coal mines allotted between 1993 and 2010 after ruling that they were arbitrary and illegal. Hindalco Industries' net profit rose 7.6% to INR...
Lightweight metals leader Alcoa today announced that it is continuing to aggressively transform its upstream portfolio to create a lower cost, globally competitive commodity business. The Company said over the next twelve months it will review 500,000 metric tons of smelting capacity and 2.8 million metric tons of refining capacity for possible curtailment or divestiture. The review will include facilities across the Alcoa system. The potential actions could affect 14 percent of Alcoa’s global smelting capacity and 16 percent of its global refining capacity. Currently, the Company has 19 percent, or 665,000 metric tons, of smelting capacity and 7 percent, or 1.2 million metric tons, of its global refining capacity idle. “Alcoa continues to take decisive action, transforming its upstream...
The Tiwai Point almunium smelter is back to running a profitable operation, though uncertainties about its outlook have left question marks over its intrinsic value, according to majority owner Rio Tinto. The smelter "is currently profitable as a result of high regional and product premiums and operational cost improvements," Rio Tinto said in its 2014 annual report, confirming electricity supplier Meridian Energy's analysis last month that the plant should be running a cash surplus. The smelter makes up part of Rio Tinto's Pacific Aluminium unit, which reversed some US$1 billion of earlier impairment charges in the 2014 financial year as aluminium prices turned around, and because of the repeal of Australia's carbon tax. Rio Tinto's average realised price for primary metal products in...
Lightweight metals leader Alcoa today announced that José Aurélio Drummond will join the Company as President of Latin America effective March 9, 2015. Mr. Drummond, 50, will lead Alcoa’s Latin America region, supporting the Company’s transformation strategy through which Alcoa is growing its value-add businesses and creating a globally competitive commodity business. Mr. Drummond currently serves on Alcoa’s Brazil Advisory Board and previously held global leadership roles at Whirlpool Corporation for 14 years. He will be based in São Paulo, Brazil. “José brings significant knowledge of Alcoa and experience managing and growing global operations, making him uniquely qualified to lead our Latin America region where we are building our value-add businesses,” said Alcoa Chairman and Chief...
The London Metal Exchange (LME) was paid around $2 million by Russia's Rusal after the aluminium producer lost a lawsuit over warehouse reform, the LME's owner said on Thursday. The hefty Rusal payment in February will provide a respite from heavy legal fees for Hong Kong Exchanges and Clearing Ltd (HKEx), which has been tied up in multiple court actions for its LME unit. HKEx annual results, which included the Rusal payment, showed its legal and professional fees jumped by 20 percent last year to HK$175 million, mainly due to legal costs of U.S. class-action lawsuits. Plaintiffs had accused Wall Street banks, commodity merchants and the LME of having colluded since May 2009 to hoard aluminium in warehouses. A U.S. judge this week dismissed the antitrust litigation. The Rusal payment...
Aluminium Bahrain, the second-largest aluminum smelter in the Middle East, put plans to list its shares in Saudi Arabia on hold. “We did an initial evaluation and at the moment we are not actively pursuing it,” Chief Executive Officer Tim Murray said in an interview in Doha yesterday. Building the company’s sixth production line is “the main focus,” he said. Alba, as the company is known, has a primary listing in Bahrain with its global depository receipts trading in London. It produced 931,000 tons of aluminum in 2014 and plans to begin construction of a 400,000 ton per year plant once it receives final approval from Bahrain’s government, Murray said. The metals producer was hoping to capitalize on investor interest in Saudi Arabia as the biggest Arab stock exchange opens to direct...
