PV aluminium extrusion: This week, operating rates at sampled PV frame enterprises remained broadly stable. Some PV frame enterprises in Hebei and Anhui reported that their October production schedules were basically flat versus September. During the National Day holiday, production lines will run normally to ensure on-time delivery of early-October orders, extending the pre-holiday rush to meet delivery deadlines. From the downstream module side, October module scheduled production is expected to see limited M-o-M change. With centralised projects gradually requiring delivery and growth in new overseas orders, total module production is expected to rebound slightly, and demand for PV frame support remains intact in the near term. Overall, the October delivery window provides phased...
The US September consumer confidence index plunged 6.7 points to 81.9, the lowest since 2014 and deteriorating across the board. The University of Michigan survey showed consumers' assessments of their current financial situation and that one year ahead both fell about 10 per cent, with high-price concerns continuing to brew. Inflation pressure showed no signs of easing. US Fed Governor Cook said AI demand growth, rising oil prices, and supply chain disruptions from Middle East conflicts would keep inflation under pressure, but gave no clear guidance on rate hikes. CME data showed the market-implied probability of a 25 bp rate hike in October had risen to 70.9 per cent, and the probability of a cumulative 50 bp hike by December reached 58.7 per cent. Tightening expectations strengthened...
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Hertwich Engineering will be supplying Braunau’s AMAG Ecomelt PS-250 melting furnace as well as a casting furnace. The company will be installing the furnaces at AMAG, Ranshofen works. Ecomelt PS-250 is considered the largest aluminium melting furnace that has preheating shaft. The design production of furnace plant is approximately 76,000 tons per year. The Ecomelt furnaces designed by Hertwich achieve low energy consumption in particular and low metal losses. The energy consumption of PS-250 is approximately 550kWh/t and melting capacity of 230 t/day. With the preheating shaft in place, PS-250 melting furnace is capable of melting scraps with the organic impurities using inherent energy from contaminants for the preheating charged material and also for heating the furnace.
AMG Advanced Metallurgical Group N.V. announces that it is curtailing its aluminum alloy capacity by 5,000 metric tons, or approximately 10% of global demand, to address current market conditions. As the largest global supplier of aluminum master alloys and grain refiners, AMG's decision to reduce output was driven by systemic overcapacity and low market prices. This is part of AMG Aluminum's continuing efforts to lower its cost structure, improve operations, increase return on capital employed (ROCE) and create long-term shareholder value. The restructuring charges associated with this capacity reduction are not expected to be material. AMG Aluminum is the world-leading provider of aluminum master alloys and grain refiners for the aluminum industry. With over 300 employees and five ISO...
Aluminium settled up 0.37% at 108.05 amid indications that supply of the metal is constrained. Aluminium was on track for its biggest monthly rise since February on the back of healthy demand, but further prices gains were limited due to high stocks levels. Aluminum prices may come under downward pressure due to growing supply expectations against the closing of peak-demand season. The aluminum oversupply will be offset by strong demand growth outlook, lending support to aluminum prices in 2015. The addition of capacities in the Middle East and China has lead to surplus in aluminum market. Aluminum production by China grew 6% in 2013. The production growth is expected to reach 10% in China this year. Industry data revealed that the Chicago purchasing managers' index rose to a seven-month...
The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that funding was provided for the organization and promotion of the Canadian International Aluminium Conference (CIAC). The assistance was awarded in 2013 in the form of a $750,000 non-repayable financial contribution through Canada Economic Development's Quebec Economic Development Program. Quick facts • This investment is enabling the CIAC to promote the use of aluminium by industrial and institutional contractors by showcasing concrete applications from abroad while highlighting Quebec expertise and know-how to potential business partners. • Moreover, this international conference gives Quebec...
Hind Aluminium Industries has reported a standalone sales turnover of INR 82.68 crore and a net profit of INR 0.46 crore for the quarter ended Mar '14. Other income for the quarter was INR 1.08 crore. For the quarter ended Mar 2013 the standalone sales turnover was INR 104.97 crore and net profit was INR 2.94 crore, and other income Rs 1.07 crore. Hind Aluminium shares closed at 39.30 on May 12, 2014 (BSE) and has given 3.42% returns over the last 6 months and 26.57% over the last 12 months.
Press Metal Bhd’s aluminium smelting plant in Mukah, which was badly damaged by a statewide power outage last June, is now up and running again. Group chief executive officer Datuk Koon Poh Keong said the rebuilt facility, which went fully operational last month, was expected to contribute positively to earnings in the current quarter. The Mukah plant, which has an annual production capacity of 120,000 tonnes, was shut down after its smelting pots were damaged by the blackout. Press Metal Sarawak Sdn Bhd, which owns the plant, had provided an estimated RM90mil for both assets written off and operating loss. During the re-commissioning stage earlier this year, the smelter incurred an additional except- ional loss of RM2.2mil, according to Koon. He said due to these losses and lower...
LME aluminium is expected to test support at $1,823 per tonne, a break below which will lead to a further loss to $1,810. The deep fall from the May 30 high of $1,860 has confirmed a reversal of the uptrend from the May 21 low of $1,754.75. A wave pattern suggests the trend has been driven by wave c, which peaked below resistance at $1,865, its 200 percent Fibonacci projection level. The 123.6 percent level at $1,823 will provide a temporary support, which may be broken very soon. Resistance is at $1,844, a break above which trigger a moderate gain to $1,860. The views expressed are his own. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or...
The oversupply of aluminium will be compensated by the positive outlook for aluminium demand, lending a support for the prices of aluminium in the year 2015, as stated by Capital Economics’ recent study report. The addition of plant capacities in China and Middle East has lead to an excess in the aluminium market. The total aluminium production in China grew by 6% in the year 2013. It is expected the growth in production will reach 10% in 2014 in China. Capital Economics’ report says the increased supply of the metal will be compensated by rising demand for aluminium from the traditional consuming sectors. US also look very positive for aluminium. The rise in consumer goods production will keep the demand for aluminium high. Moreover, the excess in supply will reduce in 2015 considerably...
On May 28, Trimet Aluminium from Germany announced the purchase of Voerde Aluminium, the insolvent German aluminium producer. Trimet assured it would continue operation at Voerde and retain the 280 current employees of the plant. The takeover discussion on Trimet was reported on Monday. However, the financial terms of the transaction were not disclosed by the company. Voerde Aluminium, which had a capacity of 115,000 tonnes of aluminium annually, went insolvent in 2012 due to the high electricity prices in Germany. According to Trimet owner and supervisory board chairman Heinz-Peter Schlueter, it was the German government's recent decision to offer financial relief to power-intensive industries to compensate for high energy prices which has given them the support to complete the takeover....
LME Aluminium prices have been continuously trading in a falling wedge since last one and half years, and recently it witnessed a falling wedge breakout which indicates the short to medium term outlook for the metal remains positive. We can see a minimum three upper resistance and three lower supports to the trend line making lower highs and lower lows. It confirms that the upper resistance line and lower support line converge to form a cone as the pattern matures. Bullish confirmation of a pattern confirmed on last week of March 2014 with broken out of immediate resistance of $ 1790/tonne and the metal prices sharply hit the immediate resistance level of $1900/tonne. We can see a surge on volume when the falling wedge broken out and after we seen some correction to test the immediate...
Anil Agarwal controlled Vedanta Resources Ltd said it is hopeful of getting the Odisha government’s nod to use power from group owned Sesa Sterlite’s 2400 Mw coal based plant to run its aluminium smelter complex at Jharsuguda. “We have 3,600 Mw power generating capacity at Jharsuguda (including 1,200 Mw captive capacity). We are running our Jharsuguda smelter at 25 per cent capacity. The chief minister assured us that the entire power can be used to run the smelter so that more jobs and revenue is created for the state,” Agarwal said after meeting chief minister Naveen Patnaik. Sesa Sterlite’s 1.25 million tonne per annum (mtpa) aluminium smelter set up as a sector specific Special Economic Zone (SEZ) at Jharsuguda is lying idle presently for want of power. The company has already...
Abdulla Kalban, managing director and chief executive officer of Emirates Global Aluminium (EGA) has been elected as chairman of the International Aluminium Institute (IAI) for the next two years. A UAE national, Kalban is the first Arab to hold this prestigious portfolio. The appointment signals both the growing importance of the Middle East as an aluminium industry hub and the wealth of industry expertise in the region, said a statement. Having joined the aluminium industry in 1985, Kalban has 29 years’ experience in the sector and brings a wealth of knowledge and expertise to the role. He began his career as a special entry graduate at Dubai Aluminium (Dubal) and rose rapidly through the ranks to become the chief executive officer of Dubal in 2005, then president and chief executive...
The aluminium smelters in China are restarting a few idled capacities after aluminium prices rebounded in March after remaining low for five years. According to industry sources, the smelters are also taking advantage of low power costs given to them by a province located in Southwest. These capacities after their restart would also help in generating high exports of primary aluminium as well as its products resulting in a rise in the global market. Since 2009, oversupply of primary aluminium has bring down the domestic prices of the metal in China and this has resulted in high losses of smelters forcing them to shut down their high-cost capacity. Aluminium on LME had reached down the lowest in four and half years. Between late 2013 to end of April around 2 mn tons of smelting capacities...
Nalco (National Aluminium Company Ltd)’s shares were trading above 2% at Rs.50 after the company had reported a 30% fall in the net profit at Rs.172 cr for March 31 quarter due to low income and increase in the expense. The company had already shown a total profit of Rs.246 cr last year in the same fiscal, said Nalco in a release on BSE. The total net income for the whole quarter was a bit low at Rs 1,838.20 cr compared to Rs 1,867.27 cr in corresponding quarter of last fiscal. The total expense of the company increased to 1,670 cr in comparison to Rs 1,582 cr in last fiscal same quarter.
LME aluminium may break a resistance at $1,831 per tonne and rise further towards $1,844, as the rebound from the May 21 low of $1,754.75 may extend. This rebound has been driven by a wave c, the third wave of a three-wave cycle that developed from the May 9 low of $1,755.25. A Fibonacci projection analysis reveals this wave has travelled to its 138.2 percent projection level and could be extending towards the 161.8 percent level at $1,844. Strategically, a rise to $1,835 could confirm a break above $1,831 and the target at $1,844. Support is at $1,810, a break below which will signal a completion of the rebound and a bearish target at $1,797, the 76.4 percent level, will be established. The views expressed are his own. No information in this analysis should be considered as being...
JW Aluminum Company (“JW Aluminum”) announced today that it has posted its 2014 Quarterly Report for the Three Months Ended March 29, 2014 on JW Aluminum’s secure investor website at 4:00 PM Eastern Time on Tuesday, May 27, 2014. The quarterly report is being furnished pursuant to the Indenture governing JW Aluminum’s 11.50% Senior Secured Notes due 2017 (the “Notes”). The quarterly report will be made available to holders and beneficial owners of the Notes, qualified prospective investors in the Notes, and certain security analysts and market makers. JW Aluminum will post all of its annual reports, quarterly reports and current reports that are required to be delivered pursuant to the Indenture governing the Notes on JW Aluminum’s secure investor website maintained by Intralinks. JW...
The top producers of aluminium have offered the Japanese buyers record premium of about $405-410 per ton for the period July-September’s shipments of primary metals, up by 9% from last quarter, said four sources who were involved in the quarterly pricing talks. Japan is the biggest importer of aluminium in Asia and premiums for the shipments of primary metal and it agrees to pay every quarter over LME cash price for setting the benchmark for that region. For the quarter April-June, the Japanese buyers agreed mostly to pay the highest premium of $365-370 each ton PREM-ALUM-JP, a rise by 45 %-47% from previous quarter. The quarterly price negotiations started this month between the Japanese traders and the miners including United Company Rusal Plc and Rio Tinto Ltd and it is expected the...
Abdulla Kalban becomes first Arab aluminium industry expert to lead international forum United Arab Emirates: In a move that clearly acknowledges both the growing importance of the Middle East as an aluminium industry hub and the wealth of industry expertise in the region, Abdulla Kalban (Managing Director & Chief Executive Officer of Emirates Global Aluminium PJSC ("EGA") has been elected as Chairman of the International Aluminium Institute ("IAI") for the next two years. A UAE National, Kalban is the first Arab to hold this prestigious portfolio. Having joined the aluminium industry in 1985, Kalban has 29 years' experience in the sector and brings a wealth of knowledge and expertise to the role (indeed, he has the most industry experience relative to his peers in other aluminium...
