Ahead of the National Day holiday, domestic aluminium ingot inventories continued to set fresh year-to-date lows. According to SMM statistics, as of September 30, electrolytic aluminium ingot inventories in China's major consuming regions stood at 638,000 tonnes, down 36,000 tonnes from Monday and 40,000 tonnes from last Thursday. The pace of pre-holiday destocking was relatively fast overall, leaving ample buffer for inventory accumulation during the holiday. Source: SMM On the supply side, domestic downstream demand recovered somewhat month on month in September, but processing fees for some fabricated products came under pressure, leading some downstream enterprises to cut or suspend production, which lowered their willingness to purchase molten aluminium and pulled the...
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...
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Palmer United Senator Jacqui Lambie has said she is pushing the partyroom to adopt a 100 per cent exemption for the aluminium sector from the Renewable Energy Target. The aluminium sector is currently exempt from 90 per cent of the cost of the RET beyond the first 9500GWh of the 41,000GWh target (putting the overall ), with the scheme also putting downward pressure on wholesale electricity prices which would offset the aluminium sector's burden further. Senator Lambie told The Australian that she had put forward a proposal to extend the exemption to other high-energy users – "all four members of Tasmania's 'big four' group of high energy users ... will be exempt" – and that she had "received confirmation" her colleagues would back her plan, but said the proposal had not been signed off...
Anil Agarwal, Group Chairman, Vedanta Resources Plc and Tom Albanese, Group CEO, Vedanta Resources Plc opened the market at the London Stock Exchange today to celebrate ten years of Vedanta's main market listing, confirming the Group's long-term commitment to its listing on the London Stock Exchange. His Excellency Ranjan Mathai, the Indian High Commissioner to the UK, will also be in attendance to mark this milestone. At the time of flotation in 2003, Vedanta was the first Indian company to gain a premium listing on the London Stock Exchange, and it immediately qualified to enter the FTSE 250. The IPO was the second-largest of the year in London. Vedanta's listing has provided an excellent platform for growth over the last ten years. In this decade, Vedanta has offered global investors...
Svein Richard Brandtzæg will stay on as President and CEO of Norwegian aluminium company Norsk Hydro ASA. "We are very pleased that Brandtzæg has decided to continue as President and CEO of Hydro," said Dag Mejdell, chair of Hydro's Board of Directors. "Brandtzæg has led the company in a steady and robust manner, turning Hydro into a world-leading aluminium company. The Board of Directors remains confident that he is the best CEO to lead the company in the future." After Brandtzæg notified Hydro's Board of Directors in July that he would resign from Hydro to become President and CEO of Norwegian fertilizers company Yara International ASA, Hydro's Board of Directors asked Brandtzæg to reconsider. Brandtzæg has now decided to withdraw his resignation and stay on as CEO of Hydro. His...
Aluminium prices went up by 0.30 per cent to INR 118.55 per kg in futures trade today as participants strengthened their positions, supported by an upward trend overseas. Further, pick up in demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in September inched up by 35 paise, or 0.30 per cent, to INR 118.55 per kg in business turnover of 67 lots. Likewise, the metal for delivery in October traded marginally higher by 35 paise, or 0.29 per cent, to INR 119.95 per kg in 7 lots. Marketmen said apart from increased domestic demand, a firming global trend where Aluminium climbed as stockpiles declined to the lowest in 33 months and United Co Rusal, the biggest producer, forecast that demand will exceed supply next year, mainly...
A top executive at Aluminium Bahrain reported on Tuesday that the company had received the government’s approval for the gas allocation that will aid the operation of the sixth proposed production line, expected to be operational by 2018. The Chief Operating Officer, Isa al-Ansari revealed in an industry event held at Abu Dhabi that by the end of the year they are expecting final approval for the gas pricing structure. Once that gets through, the scheme will take 36 months to come together which means that production can start at the first quarter of 2018. The smelter’s current capacity stands at 890,000 tonne and the line 6 project is expected to add 400,000 tonnes to that. The upswing of the aluminium industry with shorter supplies and greater demand, which is already forecasted to...
Aluminum climbed for the first time in six days as stockpiles declined to the lowest in 33 months and United Co. Rusal Plc, the biggest producer, forecast that demand will exceed supply next year. The metal in London rose as much as 0.3 percent. Global supply may lag behind demand by as much as 1.3 million tons next year, compared with 1.5 million tons by the end of this year, Vladislav Soloviev, first deputy chief executive officer, said yesterday. Stockpiles tracked by the London Metal Exchange have fallen 15 percent this year to the lowest since December 2011. “Forecasts of a shortage this year and next year provided support to aluminum that appeared to be a bit oversold,” said Kazuhiko Saito, an analyst at Fujitomi Co., a commodities broker in Tokyo. Aluminum for delivery in three...
Dubai Aluminium (Dubal) plans to spend $600 million over the next three years to upgrade its smelter, an executive of its parent company, Emirates Global Aluminium, said on Tuesday. The Dubai entity currently produces 1.1 million tonnes of aluminium per year, with the planned upgrade set to enhance output by 100,000 tonnes when completed, according to Yousuf Bastaki, senior vice president of major projects at Emirates Global Aluminium. “About $600 million dollars is the plan for upgrading the plant in three years time,” Bastaki told Reuters on the sidelines of an industry event in Abu Dhabi. Dubal merged with Emirates Aluminium last year to create Emirates Global Aluminium, the world’s fifth-largest aluminium company with an enterprise value of about $15 billion, but remains a separate...
Russia's United Company Rusal forecasts a global aluminium deficit of 1.3 million tonnes in 2015, which will keep the spot price premium for the metal high, an executive at the world's biggest producer of the metal said on Tuesday. Despite this, more than half of the production capacity which is currently mothballed globally after years of falling prices will not be restarted, Rusal First Deputy Chief Executive Vladislav Soloviev said. Many aluminium producers have cut loss-making capacity or shut down completely as they struggled with rising costs, falling prices and a flood of new Chinese capacity in the past few years. The aluminium smelting process is continuous and smelters cannot easily be stopped and restarted. If production is interrupted the metal in the pots solidifies, often...
Aluminium Bahrain B.S.C. (Alba), a leading aluminium producer in the world, has unveiled the agenda for the 18th International Arab Aluminium (Arabal) Conference, which will be held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa the Prime Minister of the Kingdom of Bahrain from November 25 to 27, 2014 under the theme - “GCC: An Aluminium Power House” at the Gulf Hotel, Kingdom of Bahrain. Arabal 2014 will be inaugurated by HRH Prince Khalifa bin Salman Al Khalifa the Prime Minster of the Kingdom of Bahrain, thus opening the exhibition and conference for invitees and delegates. Arabal Chairman, Mohammed Naqi will present the opening address, which will be followed by an introductory speech by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al...
Xinjiang replaced Henan to become China’s No. 1 aluminum production province by producing 2.28 million tonnes of aluminum January-July 2014, up 89.5% from a year ago, local media reported on September 19. Aluminum capacity is being transferred from eastern part of the country to the western part, especially to Xinjiang, at a faster pace to capitalize on abundant and cheaper energy there. This is the major reason behind the impressive growth in Xinjiang’s aluminum production. It is predicted at a forum recently held in Xinjiang’s Urumqi that Xinjiang will likely become China’s “aluminum capital”. Henan produced 1.98 million tonnes of aluminum during the same period, up 2.9% year-on-year, making it China’s second largest aluminum production province.
Aluminium Bahrain B.S.C (Alba), a leading aluminium producer of the world, is a key participant and sponsor of the 29th International Aluminium Conference, being held from 22 to 24 September, 2014 at The Ritz Carlton Abu Dhabi, UAE. Alba’s participation and sponsorship of the 29th International Aluminium Conference - organised by Metal Bulletin - reaffirms the company’s support towards strengthening its links with aluminium leaders around the world and gaining a wider understanding of the aluminium industry. Alba’s Chief Operations Officer Isa Al Ansari is representing the company during the “Executive Industry Panel on global industry challenges” while Chief Marketing Officer, Jean Lucas Baptiste is a panellist on “The Markets Panel: Market watchers and players share their views on where...
ALUMINIUM producer XinRen Aluminum Holdings on Monday said its 51 per cent owned subsidiary, Xinjiang Plant, has acquired 55 per cent of Xinjiang Tianfu for 88.6 million yuan (S$18.3 million). Xinjiang Tianfu, which owns an "ultra-large, modern coal mine in the coal-rich Xinjiang Province", will become a new source of long-term, low-cost, high quality coal supply for XinRen's own independent power plant (IPP), and allow it to further lower production cost, the group said. Located about 70 kilometres away from the Xinjiang Plant mega aluminium smelting facility, the coal mine has proven reserves of 250 million tonnes of low sulphur, ultra-low ash and high caloric value coal with an average heat value of 6,000 kcal or more. Its current mining capacity is 1.2 million tonnes per annum.
AlCircle has the pleasure of being a part of Aluminium 2014 trade fair as a media partner and exhibitor. It is for the second time that AlCircle is making its presence felt at the world’s biggest trade fair at Messe Dusseldorf after Aluminium 2012. ALUMINIUM Germany is one of the world’s leading trade shows for the aluminium industry and its important application areas. Eminent players from the global aluminium industry meet here for business networking and knowledge building. It brings together producers, manufacturers, processors and suppliers and also end-consumers along the whole supply chain, that means from raw material along semi-finished up to finished products. AlCircle being an exclusive industry portal for the global aluminium industry expects to reach out to a global audience...
This time last year, Century Aluminum, in Sebree, was facing the possibility of shutting down, Today, the company held an event to celebrate the kickoff of their new "Premium Products Initiative". It's a multi-million dollar project that will not only benefit the smelter, but the community as well. It will bring in several jobs. A company spokesman says, “we've got a large footprint here and we intend on being here for a very long time and we're very thankful for the support and the ability to do this and this expansion. “ Century Aluminum has had a smelter in Sebree for 42 years.
Alcoa had made a clever move of closing all inefficient smelters and focusing on the more lucrative downstream business of aerospace and automotive to cut losses. But now as the aluminium prices are improving, Alcoa’s aluminium manufacturing sector is also looking up. Alcoa had idled 803,000 metric tons, out of its total 3.8 million metric tons capacity as of June 30. This along with similar steps taken by Alcoa’s competitors has helped the aluminium prices greatly, pushing it from $1,700 from earlier in the year to the current $2,100 per ton spot prices it has achieved recently. Alcoa’s earnings per share would be 18 cents per share on sales of $5.7 billion, as per the analysts’ forecasts. Alco’s aluminium stocks have also risen by 52 percent this year while the shares closed at $16.22...
AlCircle is participating as a media partner to Metal Bulletin Events’ 29th International Aluminium Conference – the premier aluminium industry gathering in Abu Dhabi. AlCircle has recently launched the Arabic version of its brochure looking at the significance of Middle East in the aluminium industry and also the growing awareness of AlCircle’s information and business features among the aluminium fraternity in the Middle East. At present, the Gulf region is considered as the next Aluminium hub of the world with six big smelters – Dubal and Emal (now Emirates global Aluminum), Alba, Qatalum, Sohar and Ma’aden working in full capacity towards improving productivity of the region. According to industry estimates, aluminium production in the region will touch 5 million tons by 2015,...
UAE-based aluminium giant Emirates Global Aluminium PJSC ("EGA") will be showcasing the growing value of the UAE's aluminium industry to the global market by hosting Metal Bulletin's 29th International Aluminium Conference from 22 to 24 September 2014 in Abu Dhabi. The event will be opened by a short speech by His Excellence Eng. Suhail M Al Mazrouei (UAE Minister of Energy) and a keynote address by Abdulla Kalban (Managing Director and CEO of EGA). This year's event marks the first attendance as a single entity for EGA, the jointly-owned aluminium conglomerate formed by Mubadala Development Corporation and Investment Corporation of Dubai by combining their aluminium industry assets. EGA's core operating entities are Dubai Aluminium PJSC (" DUBAL ") and Emirates Aluminium Company Limited...
Sohar Aluminium based in Oman plans to expand over the next five years and is ready to invest $35 million for the same as reported by Mohammed Al Masoudi, their chief executive to Reuters in Thursday. The company is looking to upgrade from their current capacity of producing 375,000 of primary aluminium in hot metal form, per year. The increased capacity of 28,000 tonnes is expected to be added as per the expansion plans, he said. Their two main consumers are Oman Aluminium Processing Industries and Oman Aluminium Rolling Co. where the former consumes 50,000 tonnes while the latter consumes 140,000-160,000 per year. According to Masaudi, there is a third major producer that is being arranged. A portion of the produce is exported as well. Sohar Aluminium was established in 2004 and is...
