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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Rio Tinto has appointed Alfredo Barrios as chief executive of its Aluminium business. He will succeed Jacynthe Cote who will leave the business for personal reasons to pursue other interests. Alfredo will assume the role on 1 June 2014 and join the Executive Committee on this date. He will be based in Montreal, subject to obtaining all necessary immigration approvals from the Canadian authorities. Jacynthe will continue in an advisory role until 1 September 2014 in order to ensure a smooth transition. Alfredo Barrios’ most recent role was Executive Director and Executive Vice President Downstream at the joint venture TNK-BP, one of Russia’s biggest vertically integrated oil and gas companies, where he was responsible for the refining, trading, supply, logistics, and marketing businesses....
Norwegian aluminium company Norsk Hydro ASA has signed a long-term power contract with Norwegian renewable energy producer Agder Energi AS for power supplies to Hydro's aluminium plants in Norway. The Power Purchase Agreement (PPA) between Hydro's fully owned subsidiary Hydro Energi AS and Agder Energi Vannkraft AS covers electricity supply over a 10-year period from January 1, 2021, with an annual volume of 1 terawatt hour (TWh) and a total delivery of 10 TWh. "The power contract is a first move towards securing long-term power supply for Hydro's Norwegian smelter portfolio after the existing long-term power contract with Statkraft expires in 2020," says executive vice president and head of the Primary Metal business area in Hydro, Hilde Merete Aasheim.
LME aluminium could have completed a rebound from the May 21 low of $1,754.75 per tonne, and may drop to $1,797. The rebound has been driven by a wave c, the third of a three-wave cycle that developed from the May 9 low of $1,755.25. All the five component waves of wave c have unfolded. A Fibonacci projection analysis reveals the final component wave, labelled 5, has peaked around resistance at $1,823, the 123.6 percent level. The current fall is expected to extend to the 76.4 percent level at $1,797. A break above $1,823 could lead to a limited gain to $1,831, the 138.2 percent projection level. 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...
Tomago Aluminium has announced plans to develop an industrial park adjacent to its smelter over 15 years. The Newcastle Herald reports that proposed 300 hectare industrial park would be opened in four stages, with economic modelling predicting the creation of 2,500 to 4,500 full-time jobs over this period. Hunter Corporate Park, as the proposed site has been named, will be aimed at metal fabrication, distribution and other purposes. According to project manager Andrew MacKenzie there will be around $1.7 billion in construction work created. "With the rapid increase of development in the area, we feel at Tomago, that it's an appropriate time to start releasing some of that land for further land,” he told the ABC. "What we are really trying to do here is position the land so that it is...
According to Shanghai Metals Market, the prices of aluminium should come down due to expected growing supply against closing of the peak-demand season. Incentive policies as well as falling power costs are the factors that will encourage the idled capacities to resume their work and the setting up of new plants. SMM analyst says this will bring the prices down. Production work resumption at the idled capacity will mainly be in Guizhou province. It will be followed by a RMB 0.12/kwh power subsidy to the local aluminium smelters for restarting the production work and this would further connect equate to a rate of RMB 0.44/kwh to gird operators. The provincial government has reserved RMB 80-120 million for the smelters that have resumed operations in idled lines and even encouraging these...
Achievements Highlighted in Newly Released 2013 Sustainability Report 2013 Sustainability Report Highlights • Safest year on record, with 30 percent reduction in workplace injury rate • Reduced greenhouse gas emissions intensity by 25.5 percent from the 2005 baseline, and lowered absolute emissions by 3.1 million metric tons • Introduced breakthrough bonding technology to enable aluminum-intensive vehicles that are lighter and more fuel-efficient • Invested US$40.9 million in community programs through Alcoa and Alcoa Foundation • 37,200 employees, or 62 percent, volunteered in their communities during a Worldwide Month of Service • Recognized as the global aluminum industry sustainability leader and the North American leader in the aluminum sector by the Dow Jones Sustainability Indexes...
Aluminium Bahrain B.S.C. (Alba), a leading aluminium producer in the Middle East, today (Tuesday, May 27, 2014) announced that it will host the 18th International Arab Aluminium (Arabal) Conference under the theme - “GCC: An aluminium power house” from November 25 to 27, 2014 at the Gulf Hotel, Kingdom of Bahrain. The announcement was made by the Arabal Organizing Committee at the Oasis Hall in Alba. Speaking on the occasion, Founder and Chairman of Arabal, Mr Mohammad Ali Al Naki said: “Arabal provides the perfect platform to highlight the on-going developments, challenges and future opportunities of the aluminium industry in the region. We are pleased to announce that this prestigious event will be held from November 25 to 27, 2014 at the Gulf Hotel, Kingdom of Bahrain, and are certain...
The Corporate Assembly in Norsk Hydro ASA on Tuesday approved Dag Mejdell as new chair of the Board of Directors and one new member of the company's Board of Directors, Irene Rummelhoff. Terje Vareberg resigns from the Board of Directors and will be replaced by Dag Mejdell as new chair of the Board effective from May 27, 2014. Victoire de Margerie resigns from the Board of Directors and will be replaced by Irene Rummelhoff as a shareholder-elected board member as of May 27, 2014. The Board of Directors is reduced by one member from 11 to 10. After Tuesday's election, the Board of Directors in Hydro consists of chair Dag Mejdell, deputy chair Inge Hansen, shareholder-elected board members Finn Jebsen, Liv Monica Bargem Stubholt, Eva Persson, Pedro Rodrigues and Irene Rummelhoff, and the...
China plans to close down high-cost as well as outdated primary aluminium units in the coming 2-3 years, said the executive of a unit. This move has been taken to check the capacity growth for one of the oversupplied commodities in the country. The closure should result in the prices of aluminium in China, its producer and top consumers recover from the sharp fall of 30% in last 4 years. "Demand and supply in China would be basically in balance in five years or longer," said Yu Dehui, vice-president in charge of the aluminium business at China Power Investment Corp (CPI), the second biggest producer of the metal in the country. Yu said at the industry conference held in Hong Kong that there is no possibility that China would turn into primary aluminium’s big importer. According to his...
A meeting of the Board of Directors of National Aluminium Company Ltd will be held on May 28, 2014, to consider the audited financial results of the Company for the quarter and year ended March 31, 2014 and to consider recommendation of final dividend, if any. Shares of NATIONAL ALUMINIUM CO.LTD. was last trading in BSE at Rs.53.2 as compared to the previous close of Rs. 58.45. The total number of shares traded during the day was 2876448 in over 25503 trades. The stock hit an intraday high of Rs. 60.3 and intraday low of 50.9. The net turnover during the day was Rs. 163567532.
Preliminary estimates indicate that aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 6,149 million pounds during the first three months of 2014, down one-tenth of one percent from a year ago. Aluminum net shipments (including exports) by domestic U.S. and Canadian facilities totaled an estimated 1,902 million pounds during April, up four-tenths of one percent from the April 2013 total of 1,894 million pounds. Shipments of aluminum mill products declined 1.1 percent from the previous year to 1,231 million pounds while shipments of aluminum ingot for castings, exports and destructive uses increased 3.2 percent year-over-year, totaling 671 million pounds. Year-to-date, producer shipments totaled an estimated 7,593 million...
Aluminium prices went up by 0.29 per cent to INR 104.65 per kg in futures trade today as participants strengthened their positions, supported by an upward trend overseas. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in May inched up by 30 paise, or 0.29 per cent, to INR 104.65 per kg in business turnover of 125 lots. June aluminium traded marginally higher by 25 paise, or 0.24 per cent, to INR 105.90 per kg in 73 lots. Marketmen said apart from increased domestic demand, a firming global trend where Aluminium reached a three-week high in London on speculation that supplies of the metal will trail demand, mainly influenced metal prices at futures trade here. Globally, aluminium for delivery in three months...
The result of an employment dispute, estimated to cost New Zealand Aluminium Smelters $20 million, will likely not result in an immediate financial payout to workers. In May last year 64 Engineering Printing and Manufacturing Union members won an Employment Relations Authority case against NZAS. The dispute concerned the interpretation of lieu days after workers at the Tiwai Pt plant changed from eight-hour shifts to 12-hour shifts in the 1990s. The decision was appealed in December. The appeal was overturned last week but smelter bosses are considering appealing again. At the initial authority hearing, the company said if it was found liable it would pay all its affected employees, not just its union members, which it then estimated would cost about $7m. Smelter human resources...
Aluminium Bahrain B.S.C. (Alba) has successfully completed 3,000,000 work hours without Loss Time Injury (LTI), which is a testimony of the company’s commitment to safety and safe working environment for employees across the plant. Congratulating the employees on achieving the safety milestone of 3 million working hours without LTI, Alba’s Chief Executive Officer, Tim Murray said: “At Alba we believe change starts with belief and that is what we are seeing on Safety. The employees at Alba have taken the ownership of safety and this is driving productivity improvements throughout the plant. As we head into the difficult summer months, we will be accelerating our activities to ensure we have a safe summer." Alba, with the objective of enhancing awareness of safety, health and environment,...
TOMAGO Aluminium has announced plans to release 300 hectares of industrial land near its Tomago smelter in a development to be known as the Hunter Corporate Park. Tomago Aluminum’s property manager and project director Andrew Mackenzie said the $80 million project would generate between 2500 and 4000 jobs over the coming 15 years. The jobs alone were expected to contribute between $300 million and $450 million a year to the state economy with the 15 years of construction having an estimated value of almost $1.8 billion. Mr Mackenzie said the land had been zoned industrial for 30 years. He said a ‘‘master plan development application’’ would be submitted to Port Stephens Council in the coming days and public drop-in sessions to explain the project would be held at the Hunter Region...
UC RUSAL, a leading global aluminium producer, and Rosneft, Russia’s leading petroleum company, announce the signing of a long-term agreement for the supply of petroleum coke and natural gas to RUSAL’s plants. The document was signed by the CEO of RUSAL, Oleg Deripaska and the President of Rosneft, Igor Sechin at the XVIII St. Petersburg International Economic Forum. The agreement forecasts the supply of a total of 2.65 million tonnes of petroleum coke and up to 12 billion cubic meters of natural gas to RUSAL’s plants. Through this cooperation, Rosneft creates a guaranteed sales market for its petroleum coke and natural gas products and RUSAL secures the stable supply of essential raw materials to its aluminium facilities. Both companies have also signed a partnership agreement for the...
Aluminium prices fell by 0.23 per cent to INR 109.55 per kg in futures trading today as speculators reduced their positions amid weak global cues. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in May eased by 25 paise, or 0.23 per cent, to INR 109.55 per kg in business turnover of nine lots. Similarly, the metal for delivery in April traded lower by 15 paise, or 0.14 per cent, to INR 108.25 per kg in 367 lots. Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange (LME). At the LME, aluminum lost 0.2 per cent, snapping a five-day gain, the longest winning streak since September 2012.
United Company RUSAL, the biggest producer of aluminium in the world, has raised its offer prices for the metal to Japan, a latest report says. According to Platts news source, the aluminum giant has offered a premium of $405 per metric ton to London Metal Exchange cash, to Japan buyers, for shipments in the third quarter. The prices are for primary aluminum ingot, T-bars, sows of LME P1020A specification that will in 3rd quarter to Japan.
