The London Metal Exchange (LME) aluminium price chart recovered on the November 9 trading session, wish cash reporting nearly 1 per cent gain compared to the November 6 close. Longer-dated contracts and inventories, however, edged lower. The LME aluminium cash bid as well as offer prices gained 0.96 per cent day-on-day on November 9. The bid recovered from USD 3,115 per tonne to USD 3,145 per tonne. The offer price surged from USD 3,117 per tonne to USD 3,147 per tonne . Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid price reported a 0.33 per cent rise from USD 3,049 per tonne on November 6 to USD 3,059 per tonne on November 9. The offer...
Iran is expanding its domestic aluminium manufacturing capabilities through nanostructured anodising technology, developing specialised aluminium sheets and profiles for applications across aerospace, medical equipment, electronics and automotive industries. The initiative reflects a move towards higher-value aluminium products by improving the metal's surface properties and expanding its potential industrial applications. According to Pars Today, citing Mehr News Agency, an Iranian aluminium complex is using the technology to produce aluminium components with nanostructured ceramic coatings designed to improve resistance to corrosion and wear. The complex is also working on developing specialised aluminium standards and has so far established eight standards in this field. The...
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Indian aluminum producers are worried that China is not moving fast enough to stop the overproduction of aluminum – a factor, they say, that is stopping the price of aluminum staying above the US $2,000 per ton mark on the London Metal Exchange (LME). Those in the aluminum business, such as NALCO Chairman Ansuman Das, have gone on record to claim that the European financial crisis and sustained global overproduction, caused particularly on account of China’s drive towards self-sufficiency, were factors that were proving to be a hurdle in the way of the light gray metal staying above that mark. Das was recently quoted by the Business Standard as saying that the metal’s poor price behavior was not derived simply from weaknesses in aluminum fundamentals – other market factors needed be...
Alcoa Inc. kicked off earnings season on Monday by reporting a larger first-quarter profit than analysts expected, helped by strong demand for aluminum used to make airplanes and automobiles. The company still sees demand for aluminum growing 7 per cent in 2013, with gains cutting across many industries. Alcoa is the first company in the Dow Jones industrial average to report first-quarter results. Because its products wind up in so many things, from cars and buildings to soda cans, investors study Alcoa’s results for hints about earnings at companies in other industries. Alcoa said net income in the first quarter was $149-million (U.S.), or 13 cents per share, compared with $94-million, or 9 cents per share, a year earlier. Excluding special items, the company said it would have earned...
A new aluminum-lithium foundry in Issoire, France, opened on March 26 by aluminum specialist Constellium embodies the latest effort to regain ground lost to composite materials in aircraft construction. Dedicated to a new line of alloys dubbed Airware, the new casthouse has the capacity to produce 14,000 metric tons of aluminum-lithium per year, making it the world’s first large-scale production facility of the alloy. Two furnaces have begun operating, marking the start of Constellium’s production ramp-up for Airware’s first two customers. Airbus and Bombardier each use the alloy for the A350 XWB long-haul twinjet and 100- to 160-seat CSeries, respectively. Both manufacturers plan to fly their new airplanes for the first time this summer. Plans call for another two furnaces to enter into...
Alcoa Inc., the first Dow Jones Industrial Average member to report results each quarter, is losing its accuracy as a bellwether for the U.S. stock market. The Standard & Poor’s 500 Index has usually followed Alcoa’s lead since 2002, rising 2.5 percent in quarters when the aluminum producer beat the market after earnings, less when it didn’t. That relationship has broken down since 2011, when the S&P 500 posted even bigger gains, about 3 percent, when Alcoa’s results hurt its stock, according to data compiled by Bloomberg. Overtaken in size and market clout by diversified commodities companies such as BHP Billiton Ltd and Glencore International Plc, Alcoa has struggled to make a profit with aluminum prices sagging as production outpaces the metal’s use. Investors are looking beyond the...
UC RUSAL, the world's largest aluminium producer, and the oil company Rosneft announce the signing of an agreement of intent to cooperate in the supply of petroleum coke and other products to RUSAL's production facilities, as well as to develop Rosneft's capacities for the production of petroleum coke with the participation of RUSAL. The agreement establishes the intention of the parties to sign a number of long-term contracts for the supply of all the petroleum coke produced by Rosneft to RUSAL over the next 3-5 years. Currently, Rosneft is already a partner of RUSAL and supplies petroleum coke to certain aluminium smelters of the company. The agreement is aimed at expanding the existing cooperation. To identify and develop new opportunities for cooperation, RUSAL and Rosneft will...
SmarTrend identified a Downtrend for Aluminum of China on February 7th, 2013 at $11.38. In approximately 2 months, Aluminum of China has returned 20.71% as of today's recent price of $9.02. In the past 52 weeks, shares of Aluminum of China have traded between the current low of $8.98 and a high of $13.29 and are now at $9.11. Over the last five market days, the 200-day moving average has gone down 0.2% while the 50-day MA has declined 2.4%.
Aluminium Bahrain B.S.C. remains confident of strengthening its Bahrainisation goals and absorbing technically skilled Bahrainis into its workforce as the company congratulated over 40 successful trainees of the Vocational Training Programme on their graduation that took place at the Alba Club on Sunday, April 7, 2013. At the graduation ceremony, the trainees were presented with certificates for successfully completing the two-year programme developed in partnership with Tamkeen. Alba's Chief Executive, Tim Murray, Chairman of Alba's Labour Union, Ali Bin Ali as well as Tamkeen's Acting Vice-President - Human Capital Development, Amal Al Kooheji presented the certificates and commended each of the trainees on their accomplishment. Also present at the event was the Under-secretary at the...
All the cards do not rest with Rio Tinto in the stalled negotiations over electricity contracts with the Tiwai Pt aluminium smelter, accounting firm WHK New Zealand's chief executive Phil Mulvey says. "Rio Tinto has hived off its smelter assets into Pacific Aluminium ... If it shuts the plant, it is not worth anything." It was in the interests of the Government to reach a deal because of the output of power coming from Manapouri, he said. With 14 per cent of New Zealand's power used by the smelter, it would take 10 years or more of economic growth to soak up that capacity if it closed. "That will affect the value of all generator companies in New Zealand, a lot of them owned by the Government," said Mr Mulvey, who is also deputy chairman of Invercargill-based PowerNet. Pacific Aluminium...
Traders in Japan's domestic aluminum market retreated Monday after the yen hit a four-year low of Yen 98.49 against the US dollar, increasing import costs by 5% from a week ago, according to sources. The currencies traded at Yen 98.49 to a dollar at 16:00 local time on Monday, the lowest since 2009. "The volatile exchange rate ... moving by Yen 6 in a matter of hours, chased buyers away," a Tokyo trader said. Japanese end-users typically buy aluminum in yen from local traders who import it from overseas. "It is difficult for end-users to make their moves," a second trader said. "The LME aluminum price looks low, but the exchange rate moves raise costs in the end." Traders said they expect end-users to be in wait-and-see mode for at least a week, as they gauge whether the yen will remain...
Alcoa Inc. is witnessing a seventh consecutive quarter of falling or flat raw aluminum prices on the London Metal Exchange, despite its own moves to curtail production. The depressed raw aluminum price is expected to fall one cent to eight cents a share. Speculators are busy shorting aluminum, part of a wide selloff in commodities, causing turmoil in the broader mining and metals sector. More than 20 mining CEOs have lost their jobs over the past 18 months. Massive mining projects are being suspended or put on hold. Inventories in warehouses are at record highs. Production in China, the chief source of global oversupply, is expected to increase a whopping 9% to 24.3 million metric tons this year. The LME price has dropped to under $1,900 per ton, down from over $2,500 two years ago, and...
Aluminium Bahrain B.S.C was able to increase its overall sales on the back of higher production. For the first quarter of 2013, sales figures reached 219,537 metric tonnes (mt), up by 2.2% from 214,891 mt in Q1 2012. Production jumped by 3% to 227,414 mt versus 220,738 mt for the same period in 2012. In addition, Alba was able to capitalize on the strong demand of Value- Added products and closed the first quarter with an average of 66% of total shipments versus 65% in 2012 and 62% in Q1 2012. Commenting on Alba's sales and production for Q1 2013, Alba's Chief Executive, Tim Murray said: "We are pleased with the higher overall figures for sales & production, ahead of the company's own forecast for the period thanks to a focused marketing strategy and a sustained focus on enhancing...
A passion for professionalism, excellence in all aspects of the business and continuous improvement has inspired yet another innovative application of information technology at Dubai Aluminium, the entirely state-owned corporation that operates the world's largest single-site primary aluminium smelter using pre-baked anode technology. This time, it's an implementation of a SAP-based Inbound Logistic solution that has been integrated electronically with key freight forwarders, thus enabling the automation of inbound shipment tracking, expediting and costing at DUBAL - which in turn has enhanced transparency, control and efficiency throughout the process. "The primary objective of the Inbound Logistics Implementation Project, which began in 2012, is to automate all the processes between...
The US March nonfarm private sector employment shown in the ADP National Employment Report missed forecasts. Besides, weekly initial jobless claims rose significantly. Discouraging as they may be, these employment figures mean the US Federal Reserve will continue its QE3. LME aluminum sank to USD 1,862.8/mt during the three-day public holiday in China, its lowest since August 22, 2012. LME aluminum rebounded slightly after the US dollar index fell, but still met resistance at the 5-day moving average. Finally, LME aluminum ended the day up 0.11% at USD 1,889/mt. Latest LME aluminum inventories increased 6,000 mt to 5,212,800 mt. Aluminum prices will move at low levels on downbeat economic data, despite a softer US dollar. LME aluminum should struggle at USD 1,880/mt and move within USD...
With 1,573 reduction cells arranged in seven potlines, producing more than one million tonnes of primary aluminium per annum, the total load demand for electrical power at Dubai Aluminium) is approximately 1,900 MW. This requirement is met through a captive combined cycle power station comprising 23 gas turbines and seven steam turbines, giving an installed power generation capacity of 2,350 MW (at 30°C). This infrastructure makes the DUBAL Power Plant not only a major user of gas turbines in the region, but also an industry resource in terms of knowledge and expertise in this area. Acknowledging this, and in keeping with its corporate commitment to continuous improvement through best practice sharing and benchmarking, DUBAL is a sponsor of the 2013 Gas Turbine Users International Annual...
Aluminium Bahrain B.S.C.'s sponsorship with The Third Untangle Autism Conference provides a tangible demonstration of the company's commitment to support initiatives that enrich the quality of life for those with special needs, and enhance learning opportunities that would help them become productive members of society. The Third Untangle Autism Conference - held at The Sheraton Hotel Bahrain on April 3 & 4, 2013 - was organised by the Bahrain Society for Children with Behavioural and Communication Difficulties , and brings together educators, researchers, service providers and practitioners, individuals with autism disorder, families and caregivers. Alba's Chief Support Functions Officer, Basem Al Sharqi and Senior Manager for Human Resources & Public Relations, Abdul Rahman Al Janahi...
On April 3, 2013, the day’s biggest mover was the cash price of primary aluminum, which saw a 1.1 percent decline on the LME to $1,861 per metric ton. The 3-month price of aluminum fell 0.9 percent to $1,892 per metric ton yesterday on the LME after two days of no change. The Indian aluminum cash price weakened by 0.8 percent. Chinese aluminum prices were mixed for the day. Chinese aluminum billet finished the day up 0.7 percent. The price of Chinese aluminum scrap was essentially unchanged. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row. The Chinese aluminum cash price remained essentially flat.
Things are hotting up in France over Rio Tinto’s plans to either sell it’s Saint-Jean-de-Maurienne smelter or sell it to German aluminium producer, Trimet. Since the socialists took power in France last year, the French Government’s Industrial Renewal Minister, Arnaud Montebourg has been pretty vocal with is view, that Rio Tinto Alcan should rule out closure of the plant. Site closure has been an option open to the mining giant ever since a cheap power deal with French power behemoth EDF expired – but the French Government is having none of it and insists that the company pushes ahead and finalises a deal with Trimet, Germany’s leading aluminium producer. According to an official statement from Trimet, the Rio Tinto plant in France would complement Trimet’s product portfolio. “In recent...
With Japan's second largest secondary aluminum alloy smelter Asahi Seiren taking over another smelter Summit Showa Arumi effective July this year, silicon suppliers expect competition to bag large orders from the merged entity to heat up. "You have a big customer buying a large sum. The customer has grown double in size, so suppliers would be excited [as they will be getting bigger orders]," said one Tokyo-based trader. "You have one strong player [with stronger financial base] as a result of the merger and that is good for the silicon industry," said another Tokyo-based trader. Japan has roughly 20 secondary aluminum alloy smelters, most of them buying 40-300 mt/month of silicon in small lots. But Asahi Seiren and Summit Showa consume a larger volume of around 1,000-1,500 mt/month of...
