The ANZ World Commodity Price Index rose 0.6 per cent month on month and 1.0 per cent year on year, with prices increasing across most categories. The rise was largely driven by higher energy prices, while a weaker New Zealand dollar pushed the index in local-currency terms up 2.8 per cent. Oil surge lifts aluminium prices along with milk powder Aluminium benefited from supply disruption linked to the Middle East conflict. Prices rose 1.1 per cent during September and are around 23 per cent higher year on year, with production and exports in the region remaining disrupted. Dairy prices increased 1.0 per cent in September, led by skim milk powder. Prices for the product jumped 9.2 per cent month on month and are now 41.1 per cent higher than a year earlier. ANZ said milk powder prices are...
Mexico is approaching the final stages of negotiations with the United States on reducing tariffs on aluminum and steel products, with officials indicating that a deal could significantly lower the effective tariff burden on Mexican exporters. Luis Rosendo Gutiérrez, Mexico’s undersecretary of foreign trade, said talks had made progress during the National Auto Parts Industry congress. Discussions covering the automotive sector are targeting a 15% tariff, which could fall to an effective rate of around 4% to 5% after deductions linked to regional value content. The potential reduction would bring Mexico closer to tariff levels faced by competitors including Japan, South Korea and Germany, improving the position of Mexican suppliers in the US market. Explore the production, demand and...
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Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) said the country produced 292,702 tons of aluminum ingots in the first 10 months of the current Iranian year (started March 21, 2013). The figure shows an increase of four percent compared with the corresponding output of last year, which was 281,444 tons, IRNA reported on Monday. Iranian Aluminum Company (IRALCO) in Markazi province, Almahdi and Hormuzal in Hormuzgan province with 149,011tons, 87,006 tons and 56,685 tons of output respectively were the three top aluminum producers of the country during the period. Total aluminum ingot production of the three companies for Dec. 22-Jan. 20 stood at 28,551 tons. The report added that Iran Alumina Company produced 205,532 tons of alumina powder in the first 10...
Base metal futures rose on the London Metal Exchange Tuesday, with aluminum carving out significant gains as traders stepped in to buy the metal at reduced prices. The LME's three-month aluminum contract was up 1.1% at $1,695 a metric ton in morning European trade after hitting a four-and-a-half-year low of $1,671.25 a ton Monday. The LME's flagship three-month copper contract was up 0.2% at $7,055 a ton, snapping a nine-session losing streak. "The metals are all attempting to find certain support after lengthy declines," said Richard Fu, head of Asian commodities trading at Newedge. Base metal prices have tumbled in recent weeks, weighed by a slew of disappointing economic data from China and the U.S. -- the world's two biggest base metals consumers. Industrial metals are used in...
Aluminium Bahrain B.S.C (Alba) highlighted its support towards initiatives that showcase the region's industrial growth by signing up as a strategic partner representing the aluminium sector at the Gulf Industry Fair 2014. Organised under the patronage of His Royal Highness the Prime Minister of Bahrain, Prince Khalifa bin Salman Al Khalifa, the Gulf Industry Fair 2014 will be held from February 4 to 6, 2014 at the Bahrain International Exhibition Centre. The Gulf Industry Fair is a highly acclaimed trade exhibition in GCC that covers key industrial segments including aluminium, steel, alloys, metal, automation, metrology, energy, logistics, manufacturing & industrial security & safety. The aluminium sector will include aluminium production as represented by Alba as well as downstream...
With job creation and strengthened Emiratization among its core strategies, Emirates Global Aluminium (“EGA”) – the jointly-owned, UAE-based aluminium conglomerate to be formed by Mubadala Development Corporation and Investment Corporation of Dubai through the integration of Emirates Aluminium (“EMAL”) and Dubai Aluminium (“DUBAL”) – will attend the Tawdheef 2014 career fair, held at the Abu Dhabi National Exhibition Centre from 3 to 5 February. The company’s active participation at the event reflects EGA’s commitment to increasing its proportional Emiratization (currently around 18% across EMAL and DUBAL) by recruiting over 100 UAE Nationals during the course of this year. No newcomer to the event, EMAL has attended the annual Tawdheef career fairs since 2009 (i.e. this is the sixth...
Gulf Industry Fair (GIF) 2014 gets its final touches before it makes way this month (Feb 4-6) at Bahrain International Exhibition and Convention Centre (BIECC). Prince Khalifa bin Salman Al Khalifa, the Prime Minister of Bahrain, will open the industry fair organised by Hilal Conferences and Exhibitions (HCE). GIF 2014 happens to be a B2B exhibition much anticipated as this year’s fair is the biggest in the history of seven years in Northern Gulf's industrial sector. Compared to the floor space of 3,200 sq m in 2013, this year’s fair will occupy a floor space of 3,381.5 sq m. Nearly 120 exhibitors from large industrial & economic powerhouses to vibrant downstream ecosystem of product & service providers representing the aluminium and other alloys, industrial processes and manufacturing,...
The third Iran International Aluminium Conference (IIAC 2014) with the motto “Aluminium, key to sustainable Industry” will take place on the 25-26th of May 2014. In this conference apart from promoting the aluminum industry, the upgrading of Aluminium knowledge is also considered to be of vital importance. With this goal in mind and considering the requirements of participants, the full text deadline has been extended to 6th of March 2014. According to scientific committee, more than 400 abstracts have been received up to this point. Due to the importance of Media Relations in this Conference, metef, edimet and aluplanet have also been added as Media partners in IIAC2014. With concurrent events, Aluminium Conference and Exhibition, IIAC 2014 once again will create unique opportunities for...
Sohar Aluminium will be organizing a gathering of the aluminium industry at Al Bustan Palace Hotel between February 5 and 6. The event held under Gulf Aluminium Council’s patronage, will have London Metal Exchange’s (LME) chief executive officer, Garry Jones, as the key speaker. They will have reputed names such as Sayyid Taimur bin Asad bin Tariq Al Said in their chief guest list. The event is a great chance for showcasing the prowess of Oman in aluminium producing sector as well as offers the platform to promote Oman, its businesses, its industries and also future development prospects. The key decision makers all over the world will be attending the dinner event and they will have an opportunity for exploring future businesses as well as investment opportunities in Oman. On the...
National Aluminium Company Limited (NALCO) has commissioned its second wind power project at Ludarva in the district of Jaisalmer in Rajasthan. The power plant boosts 47.6 MW capacity. The wind power project worth Rs 283 crore was executed through M/s Gamesa Wind Turbines Private Limited, according to an official release. The turbine company has involved themselves in the erection of 56 wind turbines, each having a 850 KW rating. In the first phase of set up, the company had 36 turbines erected. The company has successfully commissioned remaining 20 turbines in the second phase. Earlier, the company had set up their first wind power plant in December 2012 at Gandikota in the district of Kadapa in Andhra Pradesh having a capacity of 50.4 MW worth Rs 274 crore. The company is even planning...
The Brazilian Aluminum Association, said on Thursday, primary aluminum production in Brazil fell 9.2 % to 1.3 million tonnes in 2013 in comparison to 1.44 million tonnes the previous year. According to the association,despite Brazilian electricity costs getting low, it resulted in the decline as it failed to bring down the operating costs to a competitive level
The day’s biggest mover was the cash price of primary Indian aluminum which dropped by 1.5 percent on Wednesday, January 29 to close. After falling for two days, the primary aluminum cash price rose 0.1 percent on the LME to $1,713 per metric ton. The aluminum 3-month price steadied at $1,757 per metric ton following two-days of dropping prices on the LME. Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row. The price of Chinese aluminum billet saw little movement. For the fifth consecutive day, the price of Chinese aluminum bar held flat. The Chinese aluminum cash price remained essentially flat.
CRU's 19th World Aluminium Conference will take place on the 19-20 May 2014 at the JW Marriott, Hong Kong. CRU's World Aluminium Conference attracts influential delegates involved in smelting, recycling, rolling, extruding, trade, raw materials, purchasing, technology and finance. The event is valued for the quality of the presentations, the excellent networking and the business opportunities that arise from important industry meetings. The points to be discussed in the conference are as follows: • Exchange strategy: What impact will increased competition between exchanges have on arbitrage, warehousing, RNB denominated contracts and strategy? • Benefit from price forecasts in primary, premiums, secondary, bauxite and alumina • Examining the demand growth prospects in primary and semis...
Century Aluminum Company will report fourth quarter 2013 earnings on Thursday, February 20th after the close of market trading. The news release will be issued through Marketwired. The company will hold a follow-up conference call on Thursday, February 20th at 5:00 p.m. Eastern time. The earnings call will be webcast live on the Century Aluminum Company website, located at www.centuryaluminum.com. Plan to begin the registration process at least 10 minutes before the live call is scheduled to begin. A replay of the webcast will be archived and available for replay approximately two hours following the live call.
aluminium sector, with Indonesia’s ban on exporting metal ores set to boost costs of the raw material bauxite and pile more pressure on struggling smelters,” reports Reuters. “Beijing has been issuing broadbrush rules aimed at reining in overcapacity in sectors such as aluminium and steel for about a decade, but plans have usually been thwarted by resistance from local governments anxious to boost growth.” “In the aluminium sector, ageing and inefficient smelters are already grappling with rising power prices, but now face potential bauxite shortages after Indonesia halted ore shipments on Jan. 12, as part of efforts to make miners process minerals at home.” “China is the world’s biggest aluminium producer and curbing expansion could ease a global surplus of the metal and even lead to the...
The 6th conference International Conference on Electrodes will be held 13th to 15th May 2014 in Reykjavik. Like the previous ones, the topics in the conference will include anodes and cathodes. Further, emphasis will be given on environmental issues, future prospects and increasing productivity in the aluminium industry. The organisers of the conference plan to give their delegates opportunity to visit primary aluminium smelters Rio Tinto Alcan at Straumsvik (ISAL) and Nordural at Grundartangi during the conference days. If the organisers find sufficient interest among the delegates, they will organize a trip on 16th May, a day after the conference, to Alcoa Fjarðaál smelter in Reyðarfjörður, east-Iceland.
Aluminium prices fell by 0.97% to INR 106.65 per kg in futures trading today after speculators trimmed their exposures amid a weak global trend. At the Multi Commodity Exchange, aluminium for delivery in January declined by Rs 1.05, or 0.97% to INR 106.65 per kg in business turnover of 505 lots. Similarly, the metal for delivery in February traded lower by INR 1.05, or 0.96% to INR 106.85 per kg in 183 lots. Market analysts said the fall in aluminium futures was mostly in tune with a weakening trend at the London Metal Exchange ahead of the outcome of US Federal Reserve's meeting today. Meanwhile, aluminium for delivery in three months fell 0.20% to $1,754.50 a tonne on the London Metal Exchange.
Japan’s aluminium output and demand saw moderate declines in 2013 amid high inventory levels. Output of value-added aluminium products in 2013 dropped 1.3% year-on-year to 1.95 million tonnes. Production of flats retreated 1.9% to a three-year low of 1.14 million tonnes, according to the Japan Aluminium Association (JAA). Output of extrusions fared worse, dropping for a fourth straight year to 814,896 tonnes. The spot main Japan port aluminium premiums – the amount over LME price that buyers in Japan are willing to pay for material – went over $300 tonne last week following a spike in Midwest premiums, with some traders also attributing the rise to physical factors. For the month of December, output dropped to its lowest since September, despite posting a 7.1% gain compared with the...
National Aluminium Company Ltd (NALCO) has reported a rise of 10 per cent in net profit at 21 million dollar (approx.) for the 3rd quarter ended Dec 31st. The Orissa based Navratna PSU had posted a net profit of 19 million dollar (approx.) during the corresponding quarter of the last fiscal year. Net sales of Nalco dropped to 260 million dollar (approx.), down 2.94 per cent in the last quarter against 267 million dollar (approx.) of the 3rd quarter of FY'13, the report in BSE says. Other income, which is mainly interests earned on deposits, was up by 7.18 per cent to 19 million dollar (approx.) in the last quarter. The third quarter financial results say, 1.4 million tonnes of alumina hydrate was produced by Nalco, during the first nine months of the financial year 2013-14, a 12.2 per...
Aluminium touched its weakest levels in more than four years on Wednesday on persistent worries of overproduction while copper dropped for a sixth session ahead of the week-long Lunar New Year holiday in Asia. Three-month aluminium on the London Metal Exchange touched a low of $1,735.25 a tonne, the weakest since July 2009. The metal, burdened by global inventories estimated at 10-15 million tonnes, recovered slightly to close down 0.7 percent at $1,742 a tonne. Aluminium premiums - which consumers have to pay on top of LME cash prices for immediate delivery - have shot to record highs in recent weeks, but this has stoked worries that this will allow some smelters to keep churning out metal. "The high and in some cases still rising premiums in the key consumer regions and countries are...
