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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Aluminium prices edged up by 0.61 per cent to INR 122.95 per kg in futures trade today as participants enlarged positions amid a firming trend overseas. Besides, strong demand in spot markets influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in January 2015 inched up by 75 paise, or 0.61 per cent, to INR 122.95 per kg in a business turnover of 29 lots. Likewise, the metal for delivery in December traded higher by 60 paise, or 0.49 per cent, to INR 122.60 per kg in 9 lots. Marketmen said apart from increased domestic demand, a firming global trend as vehicle sales and construction spending beat estimates in the US, boosting demand prospects in the second-largest base metals consumer, helped aluminium futures to trade higher. Globally, aluminium for delivery...
China imported 5,756 mt of primary aluminum in October, plunging 88.44% YoY, but up 7.41% MoM. YTD imports through October totaled 260,900 mt, up 1.46% from a year ago, customs data showed. Chinese processors and traders usually avoid importing in bulk due to the 17% VAT imposed on imported primary aluminum, except when the SHFE/LME aluminum price ratio proves favorable. Aside from re-exports, most of China’s imported aluminum flows through the tolling trade, but the rise in aluminum premiums overseas has left this less attractive than exporting aluminum semis produced from Chinese aluminum. This has left only those processors that need to maintain customer relationships importing aluminum for tolling trade. As such, China’s aluminum imports will remain low.
The UAE's aluminium giant Emirates Global Aluminium ("EGA"), has unveiled a mini solar field at one of its core operating assets - Dubai Aluminium ("DUBAL", known as Jebel Ali Operations). The new array, which has a maximum output of 70kW, will generate enough power to run the electricity requirements of the site's Residential Area Office in the daytime, including air-conditioning. The development reflects EGA's on-going commitment to save electricity and use renewable energy sources wherever possible. Other energy-conservation efforts in various areas of the Jebel Ali Operations saved approximately 40,000 MWh since April 2011. The inauguration ceremony, which took place on 1 December 2014, was attended by H.E. Saeed Mohammed Al Tayer (Vice-Chairman: Emirates Global Aluminium), Executive...
Aluminium prices fell 0.68% to INR 125 per kg in futures trading today as speculators reduced exposure amid weak demand in the spot market. Besides, a weak trend in base metals in global market influenced zinc prices. At the Multi Commodity Exchange, aluminium for delivery in December traded lower by INR 85 paise, or 0.68%, to INR 125 per kg in a business turnover of 757 lots. Similarly, the metal for delivery in January next year edged down by 80 paise, or 0.64%, to INR 125.15 per kg in 55 lots. Analysts said speculators trimmed positions due to subdued demand in the spot market and a weakness in base metals at the London Metal Exchange.
Qatalum participated in the 18th edition of the Arab International Aluminium Conference and Exhibition (ARABAL), the most important trade event for the aluminium industry in the Middle East – held this year at the Gulf Hotel, in Manama, Bahrain, from 25-27 November, and hosted by Aluminium Bahrain (ALBA). As in previous years, Qatalum sent a high-level delegation to ARABAL, headed by CEO Mr. Tom Peter Johansen, Deputy CEO Mr. Khalid Mohammed Laram, in addition to a number of managers, various heads of departments, and specialists. Leveraging the networking opportunities available through hosting of a stand at the Exhibition and dissemination of materials, Qatalum management represented the company at several events, including CEO Johansen speaking on an expert panel of GCC smelter CEOs,...
Aluminium prices have zoomed up this year. With a return of 19 per cent, year-to-date, aluminium finds its place in the top three best performers in the base metals complex . Indonesia’s ban of exports of unprocessed aluminium ores in January stoked prices. The country is the world’s largest supplier of bauxite — the raw material used for aluminium production. The aluminium futures contract traded on the Multi Commodity Exchange (MCX), which moves in tandem with the global price, has risen about 17.5 per cent so far this year. It is currently trading near INR128.35 per kg. Demand for aluminium could be the strongest among the other bases metal complex driven by the auto sector next year, says a Citi Research report. Demand-supply imbalance The market for aluminium has been in surplus for...
Century Aluminum Company announced today that its wholly owned subsidiary has completed its transaction with Alcoa to acquire full ownership of the Mt. Holly aluminum smelter. Mt. Holly, located in Berkeley County, South Carolina, employs approximately 600 people and has an annual production capacity of 229,000 metric tons of primary aluminum. "We are very pleased to assume full ownership of the Mt. Holly plant," commented Michael Bless, President and CEO. "Our first order of business is to work toward a safe and seamless transition. Mt. Holly is an excellent plant and we are confident that, with some focus and targeted investments, the talented management team can produce even greater results. We also look forward to becoming an active participant in the economy and greater community of...
The 3 day IBAAS Symposium at Vizag comes to an end on 29th November with a number of eminent speakers presenting their technical and marketing papers covering both the upstream and the downstream sector of the aluminium industry. A number of significant issues have been highlighted like the Raw Material Security, Non-Metallurgical Bauxite Industries, Waste Reutilization, Energy Efficiency and Downstream Applications. The speakers have brought into light a number of new technological innovations in the entire value chain of aluminium. The new addition to the symposium, however, have been the growing significance of the downstream sector. A number of important papers have been presented on the global and the Indian downstream industry and its potentialities. Tom Albanese, CEO, Sesa...
Reflecting its commitment to the advancement of the midstream aluminium industry, Emirates Global Aluminium ("EGA") will host the 11th Australasian Aluminium Smelting Technology Conference ("AASTC") in Dubai from 6 to 11 December 2014. The event - organised by The Royal Australian Chemical Institute ("RACI") and The School of Chemical Engineering, University of New South Wales, Australia ("UNSW") - is the first of its kind to be staged in the Middle East. EGA's involvement in the AASTC will include two keynote addresses: the first from EGA MD & CEO Abdulla Kalban, highlighting the emergence of the region into a key hub in the global aluminium industry; and the second a report on the record-breaking construction and commissioning of EMAL . Ten technical papers will be presented by EGA...
The falling oil prices have signaled a fall in aluminium prices as well, which has fallen the most in a week. Since aluminium is an energy intensive industry, the falling price of fuel significantly affects the cost of production, thereby affecting the price. Even though crude oil is not the primary source of energy for aluminium production, the fact that energy costs accounts for nearly 30 percent of the total cost of production, the falling oil prices may have a deflationary impact. “The entire commodity complex is having a reaction to crude and the U.S. dollar strength,” Bart Melek, the head of commodity strategy at TD Securities in Toronto, said by e-mail. “There is that potential on the headlines and less Petro dollars available to invest in the commodity space.” The London Metal...
Workers at aluminium factor Aldel have been faced with average pay cuts of 30% following the company’s relaunch, broadcaster Nos said on Thursday. The new wages are in line with metal working sector pay scales but some people will earn up to €700 a month less, union officials say. Staff have rejected the pay deal, paving the way for further industrial unrest at the plant. The smelter, in Delfzijl in northern Groningen had to close at the end of last year because of financial problems, which had been made worse by the high cost of electricity. The company’s American major shareholder Gary Klesch came up with a new investment plan to keep the plant open, saving 600 direct and indirect jobs. ‘Aluminium smelter wages are certainly not the biggest cost to the company but the American owner...
The second day of IBAAS is running successfully at the Novotel hotel in Vizag, Andhra Pradesh, India. The conference took off yesterday with the inaugural lamp lighting ceremony carried out by the respected guests of honor, Tom Albanese, Soma Mondol, Niu Heng and Anupam Agnihotri from Sesa Sterlite, Nalco, Chalieco and JNARDDC respectively. Today, there were three parallel sessions running simultaneously, the first one on Bauxite and Alumina, second was on aluminium smelting environment and waste management and the third one on the Downstream Aluminium sector. In the three sessions, eminent speakers from the respective sectors presented their technical and marketing papers shedding light on the present condition of the industry and suggesting viable solutions for the future. Hindalco,...
"Alumnum market in 2015 will repeat the trend of price movements seen in 2014," Shanghai Metals Market's alumnum analyst predicts. "In 2015, LME aluminum price will range $1,850-2,150 per tonne, and 12,800-15,000 yuan per tonne in SHFE alumnum market," said Wang Chunhui, SMM's aluminum analyst. Alumina price and producution cuts at high-cost producers will support 2015's aluminum price, he noted at 2014 SMM China Metal Summit in Shanghai on Nov. 23-24. "Liquidity conditions at producers should be also closely watched, despite of a surprise interest rate cut by the PBOC last Friday," he added.
His Royal Highness Prince Khalifa bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, deputised His Excellency Shaikh Khalid bin Abdulla Al Khalifa, the Deputy Prime Minister, to inaugurate the 18th Arab International Aluminium Conference (Arabal 2014) today Wednesday, November 26, 2014, which is being held in the Kingdom of Bahrain from November 25 to 27, 2014. On this occasion, HE Shaikh Khalid bin Abdulla Al Khalifa expressed his sincere thanks and gratitude to His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister for honouring him with inaugurating the conference on HRH’s behalf, and confirmed that HRH is the leading supporter of the industry. Thanks to HRH’s visionary leadership, Bahrain was the leading country in the Gulf in establishing the...
National Aluminium Company Limited (NALCO), the Navratna PSU of Govt. of India, has opened a new stockyard at New Delhi. Ansuman Das, Chairman-cum- Managing Director inaugurated the stockyard on 24th November, in the presence of Ms. Soma Mondal, Director (Commercial), Shri R.N. Lenka, Executive Director (Marketing), Shri A.S. Ahluwalia, Regional Manager (NR) and other officials of NALCO and customers of Northern Region. It may be mentioned that, New Delhi is the 11th stockyard of NALCO in the country. This will further boost the sale of aluminium metal in Northern Region.
Noranda Aluminum Holding (NOR) was among the biggest gainers on the Russell 2000 for Wednesday November 26 as the stock popped 6.68% to $4.15, representing a gain of $0.26 per share. Some 629,242 shares traded hands on 2,875 trades, compared with an average daily volume of 848,694 shares out of a total float of 68.87 million. The stock opened at $3.89 and traded with an intraday range of $4.18 to $3.82. After today's gains, Noranda Aluminum Holding reached a market cap of $285.8 million. Noranda Aluminum Holding has had a trading range between $5.64 and $2.3 over the last year, and it had a 50-day SMA of $4.13 and a 200-day SMA of $4.00. The stock has a P/E Ratio of n/a. Noranda Aluminum Holding Corp is a North American integrated producer of value-added primary aluminum products and high...
Aluminium settled up 0.31% at 129.30 with the rise in demand and decline in the growth of supply. The demand growth in the domestic market would definitely considerably affect the export of aluminum to foreign lands. According to the forecast the domestic demand for aluminum from China will increase at least a 10 percent under the period 2014-2015, which would increase the global demand caused by the acute export of the commodity, and create a tight supply demand position hiking up the price. The State Council announced Wednesday to encourage private investment in key sectors of the economy to boost investment efficiency and fill the gap in supply of urban facilities, infrastructure, educational opportunities, health care and ageing services. By doing this, the Chinese government desired...
The 18th International Arab Aluminium Conference (Arabal 2014) came to a close today, November 27, 2014 after three days of discussions, workshops and presentations by experts from the regional and international aluminium industry. The final day, November 27, 2014 kicked-off with a keynote presentation by Aluminium Bahrain B.S.C (Alba)’s Chief Executive Officer, Tim Murray on ‘Alba Safety Journey’ that highlighted the Company’s commitment to foster a zero-accident work environment. This was followed by a panel discussion ‘LME: Today & Tomorrow” on the business environment of the London Metal Exchange (LME) and later, a keynote presentation “Why the Aluminium market stands at a crossroad” by EGA’s Chief Marketing Officer, Walid Al Attar. This key session focussed on the strong demand for...
