In the final three trading days before the National Day holiday, the South China spot market stayed soft: aluminium prices continued to edge lower, the SHFE aluminium backwardation structure strengthened, and premiums over the next-month and far-month contracts were actually elevated. Ahead of the holiday, the willingness to cash out at the high basis was strong, and amid ongoing destocking, discount-priced cargoes still dominated spot circulation; demand was largely subdued, with only localized bargain-hunting replenishment and quite limited buying interest. On the whole, however, the high spot premium for aluminium ingots in South China remained largely intact. As of September 30, the SMM A00 aluminium (Foshan) spot premium over the 2610 contract stood at RMB 260 per tonne, still within...
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,...
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Highlights: • The four-day conference is being held at the Gulf Hotel from December 7 to 10, 2014. • Bahrain’s Minister of Energy, Dr. Abdul-Hussain Bin Ali Mirza officially inaugurated MaintCon 2014. Aluminium Bahrain B.S.C. (Alba), a leading aluminium producer in the world, provided Gold sponsorship for the 3rd Middle East Maintenance Conference & Exhibition (MaintCon) 2014, thus underlining the Company’s commitment to promote a comprehensive understanding of the latest trends, developments and technologies in the field of maintenance. Organised by the Gulf Society of Maintenance Professionals in co-operation with the Bahrain Society of Engineers, MaintCon2014 is being held from December 7-10, 2014 at the Gulf International Convention Centre, Gulf Hotel, Kingdom of Bahrain. Bahrain’s...
Press Metal shares fell on Tuesday to a low of RM2.91 as weaker demand pulled down aluminium prices. The share fell to RM2.95, down by 11 sen at 11.43 am while the turnover prices for 656,300 shares ranged between RM2.91 to RM3.04. FBM KLCI fell by 0.33% or 5.73 points to 1,735.11 while turnover was 623.99 million shares valued at RM604.79mil. It was seen that 231 counters were unchanged and the losers beat gainers 521 to 140. According to Reuters’ report, the Shanghai aluminium is on a downward slide reaching the lowest level since May on Tuesday. This is primarily caused by the waning demand in China, growing overcapacity and fewer buying towards year-end. The most traded February aluminium contract on the Shanghai Futures Exchange had fallen as far as 13,300 yuan (US$2,151) a tonne by...
BHP Billiton has finally announced the name of its spin-off company to be ‘South32’, which will hold all of BHP’s non-core assets like aluminium, nickel, silver and manganese mines, as well as some of its coal assets. The name was suggested by an employee driven by the fact that most of the company’s assets are located in the southern hemisphere with the 32nd latitude connecting Australia and South Africa, the two most important countries in terms of presence. Graham Kerr, the chief executive elect of the South32 says that the name reflects their heritage and the places where they operate and it is a very important part of their identity. BHP had first announced the $15 billion worth spin-off company featuring all of its non-core assets in April. South32 will have a primary listing in...
Rio Tinto Alcan Iceland and Landsvirkjun have today agreed on a modified power supply agreement to better reflect the power requirements of ISAL, Rio Tinto Alcan’s aluminium plant at Straumsvik. In 2010 Landsvirkjun and Rio Tinto Alcan Iceland signed a power contract, for power delivery extending to 2036. To fulfil the contract Landsvirkjun built the Budarhals hydro power project and Rio Tinto Alcan entered into a US$500 million investment to be able to produce higher valued products and increase the capacity of the ISAL plant. Most aspects of the ISAL investment project have been successfully completed: • Transforming the casthouse to produce higher value-added products. • Improved environmental control facilities (installed; on track for full completion next year). • Improved power...
The Saudi Arabian Mining Company (Maaden) is playing a key role by developing the mining sector as the third pillar of Saudi industry beyond oil and petrochemicals. Through its investments Maaden is turning the Kingdom into a major player in global markets for phosphate, aluminum, gold, copper and industrial minerals. Since its inception Maaden has invested over SR85 billion across all of these product lines building fully integrated projects that extract Saudi minerals and produce finished product for local regional and global customers. According to the report in 2009 Maaden established a joint venture with Alcoa the world's third-largest aluminum producer to build the world's most efficiently integrated aluminum project in Saudi Arabia. This 10.8 billion (over SR40 billion) project...
Qatar Development Bank (QDB) recently concluded its second training course for 2014 as part of a series of Qatar-based “comprehensive industrial training programmes.” The event saw the participation of 30 Qatari small and medium-sized enterprises (SMEs) at the four-day course, which focused on the country’s aluminium industry. Held from November 23 to 26, the training detailed the dynamics of the aluminium industry and its prospects in Qatar. It also discussed available investment opportunities and showcased local and regional achievements. The course discussed the challenges and opportunities the industry faces and the importance of overcoming them through innovative and non-traditional business solutions. It also reviewed aluminium industry projects and products based in Qatar and in...
Norwegian aluminium company Norsk Hydro ASA will implement several changes in its Corporate Management Board, effective January 1, 2015. Kjetil Ebbesberg will become the new executive vice president (EVP) for the Rolled Products business area, Hanne Simensen the new EVP for People & HSE (health, safety and environment), Anne-Lene Midseim the new EVP for CSR & General Counsel, and Inger Sethov EVP for Communication & Public Affairs, all joining Hydro's CMB. Ebbesberg, 43, is currently head of Hydro's Holmestrand rolling mill in Norway and former EVP for Metal Markets. Ebbesberg, who holds an MA in business economics, has had a variety of senior commercial and operational jobs in Hydro since he started in 1996 and has also worked as CFO for Norwegian retailer COOP. Hanne Simensen, 47,...
Aluminium company Alcoa has called for a deal to be made on the Renewable Energy Target, saying the policy uncertainty is weighing on the industry which is struggling in Australia, ABC Online reports. The aluminium sector is presently exempted from about 70% of the cost of the RET, but both Labor and the Coalition have agreed they are willing to fully exempt the industry under a compromise deal. However, Labor walked away from talks on the RET last month due to disagreements in other areas, most notably the overall 2020 gigawatt-hour target. Tim McAuliffe, Alcoa Australia's head of government relations, called for a solution to the impasse so that the aluminium industry – whose RET cost is about 2.5% of revenue – could have certainty. "[It's] a very, very significant cost that comes on...
As aluminium becomes more popular in industries like aviation and automotive, Amal Esawi, a professor of mechanical engineering at the American University in Cairo (AUC) is researching ways to make aluminium stronger using carbon nanotubes, retaining its lightweight. Esawi has already won the prestigious Egyptian State Encouragement Award and AUC 's Excellence in Research and Creative Endeavors Award for her work in aluminium-carbon nanotube composites. Now she is trying to find an alternative to alloying which is costly, instead she plans to us nano-sized rolls of interconnected carbon atoms shaped like tiny cylindrical chain-linked fences. The cost of the nanotubes are reducing every year and since you need fewer of them to add strength that you minimize the waste materials at the same...
Rio Tinto today demonstrated how its superior portfolio of world-class operations, with industry-leading EBITDA margins and significant growth potential, are positioned to generate healthy free cash flow and shareholder returns. Citing sector-leading tier one assets, a relentless focus on financial discipline, and an operating and commercial expertise framed by a culture of safety and integrity, Rio Tinto reiterated its commitment to materially increase cash returns to shareholders in a sustainable way from February 2015. At an investor seminar in London, Rio Tinto chief executive Sam Walsh said “When you look at EBITDA margins, the quality and longevity of resources and reserves and potential for expansion and growth, there is no question our world-class assets will generate sustainable...
Like previous years AlCircle had again joined hands with ARABAL Conference that took place in Kingdom of Bahrain, from 25 to 27 November, 2014. The Arab International Aluminium Conference (ARABAL) is the premium trade event for the Middle East’s aluminium industry and the only conference in the world attended by all the major and mid-size primary aluminium manufacturers in the region. This year the Conference was organized by Alba, one of the largest aluminium smelters in the Middle East as well the world. Like every year, the conference received a huge delegation of the global aluminium industry from East and West. From the aluminium industry point of view, it was one of the most significant platforms for knowledge and information sharing as well as for business networking. AlCircle team...
Rio Tinto's once-pilloried aluminium division could soon rank as the company's second-biggest earner behind iron ore, in what chief executive Sam Walsh has described as "a remarkable turnaround". The revival of a business that was a loss-making basket case barely two years ago was showcased in London on Friday morning, with the division's new boss, Alf Barrios, predicting strong demand and earnings growth for bauxite and aluminium in coming years. The division has suffered almost $US30 billion($35.7 billion) of asset writedowns during the past six years but looks set to start delivering for Rio just as the iron ore boom begins to fade. The recent drive to shut down scores of uncompetitive assets, including the Gove Alumina Refinery, has coincided with improving demand for aluminium in the...
Aluminium prices edged higher by 0.58% to INR 122.35 per kg in futures trade today as speculators enlarged positions amid a firming trend overseas. Further, increased demand at domestic spot markets also influenced the prices. At the Multi Commodity Exchange, aluminium for delivery in December month contracts rose 70 paise, or 0.58%, to INR 122.35 per kg in a business turnover of 450 lots. Similarly, the metal for delivery in January traded higher by 65 paise, or 0.53%, to INR122.75 per kg in 50 lots. Market analysts said the rise in aluminium prices at futures trade was mostly in tandem with a firming trend in copper and other base metals at the London Metal Exchange and rising demand at spot markets here.
Emirates Global Aluminium showcased its DX+ Technology and highlighted its benefits to Aluminium Bahrain’s (Alba) management team during a visit recently. Alba has used the technology in its Line 6 Bankable Feasibility study, said a statement. Its management team, that visited the EGA, included Sheikh Daij Bin Salman Bin Daij Al Khalifa, chairman of the board and Tim Murray, chief executive officer, who were received by Abdulla Kalban, managing director and CEO of EGA and Saeed Al Mazrooei, CEO of UAE operations. The EGA gave a presentation on various aspects of its operations including reduction cell technologies. “We sincerely appreciate the partnership with EGA. Alba is pleased to have selected DX+ technology to be used as the baseline for Line 6,” said Sheikh Dais. “Once the Alba...
Dubai Aluminium (Dubal) has chosen three banks to arrange a $1.8 billion seven-year loan to help fund general operations, its first such facility in a number of years, three banking sources told Reuters on Wednesday. The firm has chosen Citigroup, Emirates NBD and Societe Generale to arrange the loan, the sources said, speaking on condition of anonymity because the information is not public. The three banks have fully underwritten the loan, and a process for inviting other banks to join the facility has begun, said one of the sources, a Gulf-based banker. Dubal’s office was closed on Wednesday for a public holiday, and an official at its parent company did not immediately respond to an email query. Many Dubai companies have come to the loan market in recent months to take advantage of low...
Aluminium Bahrain B.S.C. (Alba)’s Chairman of Board of Directors, Sheikh Daij Bin Salman Bin Daij Al Khalifa and Chief Executive Officer, Tim Murray visited Emirates Global Aluminium (EGA) on November 20, 2014. During the visit EGA showcased the company’s DX+ Technology, which was used in Alba’s Line 6 Bankable Feasibility study. Alba’s management team were received by Abdulla Kalban , Managing Director & Chief Executive Officer of EGA and Saeed Al Mazrooei, Chief Executive Officer of UAE Operations, and given presentation on various aspects EGA’s operations including reduction cell technologies. Speaking on the visit, Alba’s Chairman, Sh. Daij said: “We sincerely appreciate the partnership with EGA. Alba is pleased to have selected DX+ technology to be used as the baseline for Line 6....
The increased demand in the cars and construction sectors is putting pressure on the aluminium market which is already showing stress as supply constricts. Since traders are paying high LME prices, close to the two-year peak amounts, as well as high premiums, they are leaning towards hoarding in the hope further increase of prices in the near future. For the past four trading days, the costs to roll over short cast aluminium position for a short term delivery like tomorrow or day after have soared to more than $7 per contract, the highest since 2012. The U.S. auto sales in November have hit an annualized rate of about 17.1 million units, the best recorded November figures since 2004 which has given a boost to aluminium, the recent favorite among automakers. According to LME open interest...
After declining at the lowest point yesterday since the month of July in the year 2013, aluminum has again regained its posture by increasing its value to 0.3 percent. According to the reports which were published in the month of November, the annual consumption of the automobile industry has been noted as 17.2 million tonnes. The records from the month of October shows that the consumption of aluminum from the construction industry has increased by about 1.1 percent. A Senior Fund Manager at the Astmax Asset Management Inc, located in Tokyo, Testu Emori, stated that the US based sale of aluminum based automobiles is very much impressive in number. He also added that the consumption of aluminum in the construction industry is also positive, and this could bring up tremendous effect on the...
