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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Alcoa Inc’s earnings for the first quarter could be lower than consensus although higher alumina prices offset aluminum. Analysts at Macquarie Equities Research expressed concern over the company’s reliance on productivity gains although Macquarie Equities Research analysts, Aldo Mazaferro and Luke MacFarlane projected that the earnings per share for Alcoa Inc in the first quarter is below the recent $0.11 consensus estimates. According to them, the largest aluminum producer in the United States could highlight its difficulty in achieving its consensus earnings expectation for 2013 during its upcoming earnings report. They also expect the $0.59 consensus estimate for 2013 will be reduced after the company’s earnings report on April 8. In a note to investors, Mazaferro and MacFarlane...
A comprehensive exercise conducted on Friday 15 March 2013 by Dubai Aluminium has confirmed its readiness to recover and protect its information systems infrastructure in the event of a disaster. So says Ahmad M Almulla (Vice President: I.T.), who advises that DUBAL’s dependency on I.T. to run its operations underscores the importance of a well-developed disaster recovery plan embracing the recovery of I.T. data, assets and facilities. With this in mind, the scope of the disaster recovery exercise included the design and implementation of an offsite Disaster Recovery Solution for DUBAL’s SAP Enterprise Resource Planning applications, e-mail services and back-up repository of all other services/applications, with due consideration for future scalability to host additional systems/services...
The current operator of the Aluminium Smelter Company of Nigeria in Ikot Abasi, Akwa Ibom State, United Company Rusal on Monday gave two conditions for resumption of operations at the aluminium factory. The company which commenced production at the factory about six years ago recently announced temporary suspension of operations at ALSCON over irregular power and gas supply and legal brouhaha surrounding the ownership of the aluminium plant. In an interview with THISDAY in Uyo, the Public and Government Relations Director of ALSCON, Mr. Albert Dyabin, said for the company to resume production soon, the two conditions must be met. Dyabin, who has been transferred back to the headquarters of the UC Rusal in Moscow, Russia, after three years in Nigeria, is now replaced by Mrs. Tatiyana...
Alcoa today announced that it is prepared to proceed with the next phase of the modernization of its Massena, NY operations, once the company receives a Record of Decision on the Grasse River that is in line with the Proposed Remedial Action plan issued by the Environmental Protection Agency last fall. The next phase includes spending $52 million for work that will begin in June 2013, including $10 million toward economic development in the North Country. “Thanks to the leadership of U.S. Sen. Charles Schumer, Gov. Andrew Cuomo, the New York Power Authority and many other government officials, employees, union leaders and community members, we are ready to take this important step toward modernizing our Massena facilities,” said Alcoa Executive Vice President and President of Global...
Base metal prices fell up to INR 5 per kg on the local non-ferrous metals market today on stockists selling in tandem with a weak Asian trend. The following are metal rates per kg: aluminium ingots 142, sheet cutting 143, aluminium wire scrap 146 and aluminium utensils scrap 142.
Alba supports 29th GCC Traffic Week that took place from March 10 - 15, 2013 "Our Aim Your Safety" was the theme of the GCC Traffic Week for this year. Aluminium Bahrain B.S.C. commended the recently concluded GCC Traffic Week for its success in steering greater public awareness on the need for improved traffic safety and safe driving behavior as well as in raising attention on the massive loss of human, financial and material resources through reckless driving. The GCC Traffic Week - currently in its 29th year - took place across each of the GCC countries from March 10 - 15, 2013. The theme for this year's GCC Traffic Week was: Our Aim Your Safety. Alba 's Human Resources & Public Relations Senior Manager, Abdul Rahman Al Janahi and Head of Safety, Sultan Khairy Sultan met the Ministry...
Aluminium prices fell by 0.38 per cent to INR104.60 per kg in futures trading today as speculators offloaded their positions, tracking a weak trend in the Asian region amid subdued demand. At the Multi Commodity Exchange, aluminium for delivery in May declined by INR 0.40, or 0.38 per cent to INR 104.60 per kg in business turnover of 18 lots. Similarly, the metal for delivery in April traded lower by INR 0.35, or 0.34 per cent to INR 103.30 per kg in 242 lots. Market analysts said speculators offloaded their positions in tandem with a weak trend base metals in Asian markets on demand concern as Chinese manufacturing missed the estimates and subdued domestic demand, led to a fall in aluminium futures prices.
Higher production in China is worrying stakeholders as the demand for Aluminium is lackluster. The expansion of production units in China in the western region is due to lower power costs in the region. The other regions in China are still struggling due to higher power and raw material costs and lower demand. National Bureau of Statistics said that the total Aluminium production was 1.73 million tonnes, up 11% from February 2012. The total production of Aluminium in Jan-Feb 13 was 3.51 million tonnes, down 15% from last year. The production of Aluminium in China is expected to reach 25 million tonnes in 2013 from earlier forecast of 24 million tonnes and a rise of 12.3% from 22.3 million tonnes in 2012. LME Aluminium ended at $ 1910 per tonne on 28 March 2013, down 7.7% in a month. Weak...
Qatalum Plant, one of the largest primary aluminium plants in the world, with an approx. production capacity of 600kt per year both for foundry alloy and extrusion ingots, and meets the demands of both local and international markets with the highest international quality standards, invites candidates to participate in the prequalification for the Pot Relining Service 2013 –2019 Contract for the Qatalum Aluminium Plant in Mesaieed. The Candidate shall in order to prequalify answer all questions in accordance with and with strict reference to Part II: Questionnaire. By responding to the Questionnaire the Candidate expresses his interest to be selected for the Bidder's List, and if successful in the bidding process, to proceed as the contractor taking the contractual responsibility during...
"Rio Tinto has a responsibility that negotiations are fulfilled as the French government will not accept the other solution, a closure, that Rio Tinto is still keeping on the table," the minister said after a visit to the plant. Rio Tinto Alcan, the aluminium division of the mining giant, is in talks to divest the plant to German aluminium company Trimet in a deal backed by a French government investment fund. "I indicated to Rio Tinto that we have concluded a deal that is economic, financial, industrial but also political with our German friends," the minister said. "Rio Tinto is facing a political consortium of two world powers," he warned. Since Socialists took power in France nearly a year ago, the firebrand Montebourg has put several multinationals on the spot demanding that French...
State officials say Alcoa Inc. is set to invest $52 million in northern New York under an agreement that continues to provide low-cost hydropower to the aluminum company. Gov. Andrew Cuomo says Alcoa will spend $42 million to prepare for modernization and added capacity at its plant in Massena. Cuomo says the company will provide another $10 million to the North Country Economic Development Fund serving St. Lawrence, Franklin, Essex, Jefferson, Lewis, Hamilton, and Herkimer counties and on the Akwesasne Mohawk Reservation. The allocation of 478 megawatts of power from the New York Power Authority is part of a deal intended to maintain at least 900 jobs at the aluminum plant. Alcoa agreed in 2008 to spend at least $600 million upgrading its operations in exchange for the hydropower.
The National Rural Health Mission that has endeavoured to fight sickle cell anaemia on a war-footing, especially in western Odisha, got a fillip by teaming up with Vedanta Aluminium and its CSR activities. Sickle cell anaemia is an inherited blood disorder characterised primarily by chronic anaemia and periodic episodes of pain leading to organ damage. According to the Indian Council of Medical Research, India has around l lakh sickle cell disease patients, with about 8,000 new sickle cell anaemia patients born each year in the country. Though ICMR has set up prenatal diagnostic facilities across Maharashtra, Gujarat, West Bengal, Karnataka and Punjab, the National Rural Health Mission had a strategic initiative to focus on western Odisha. This was borne by the fact that more than 5 lakh...
According to Henan Shenhuo Group's annual report, the company reported RMB 27.99 billion in operating revenues during 2012, down 8.84% YoY ,and RMB 202 million in profits attributable to shareholders of its listed company, also down 82.48%YoY. Its earnings per share declined 82.43% YoY to RMB 0.114 and return on equity also dropped 20.25 percentage points YoY to 3.22%. The company attributes its falling profits to plunging coal and aluminum prices in 2012. Shenhuo Group sold 451,300 mt of aluminum in 2012, down 6.33%, 820,900 mt of alumina, up 38.62%, 181,600 mt of anode carbon, up 13.15%, and 65,600 mt of casting and cold-rolling rolls, down 35.56%. Henan Nonferrous Huiyuan Aluminum and Henan Shenhuo New Materials, its subsidiaries, were running at full capacity during the report period,...
A quest for continuous improvement coupled with a determination to optimise organisation's energy consumption levels has led to Dubai Aluminium achieving another pioneering milestone. On this occasion, the corporation has leveraged a nominal volume of the steam produced by the captive cogeneration and combined cycle DUBAL Power Station to drive the UAE's first-ever absorption chiller using waste heat; and the first such application in a power plant. Built on the rooftop of DUBAL's Desalination Plant Control Building, the new absorption chiller has assumed the functions formerly fulfilled by the electrically-driven vapour compression air-conditioning chillers used for comfort cooling of the building. Indeed, Al Awadhi asserts that DUBAL's new absorption chiller has the capacity to reduce...
Century Aluminum is again trying to negotiate an agreeable electricity rate in Kentucky, according to a March 28 report from Reuters. The Kentucky General Assembly worked on two bills that would have given aluminum smelters the ability to get power on the open market – measures the Kentucky Chamber of Commerce, Kentucky Association of Manufacturers and Kentucky Resource Council all said they did not support. Both bills died when Kentucky's legislature adjourned March 26. Big Rivers Electric Corp. Director of Communications and Community Relations Marty Littrel told Reuters the negotiations with Century started again this week. Century's Hawesville smelter employs 800 people, and the company provided the necessary 12-month notice in August that it would terminate its power contract with...
According to the Aluminum Corporation of China’s annual report, China’s primary aluminum output will likely increase to 24.1 million mt in 2013. Chalco notes that most aluminum producers in China suffered losses last year due to aluminum overcapacity and depressing aluminum prices . Many aluminum projects are now under construction or planning, which are concentrated in Qinghai, Gansu, Inner Mongolia, Yunnan and Xinjiang where coal and water are abundant. Most of these projects are equipped with power plants, and this can help reduce aluminum production costs. As such, Chalco predicts that China’s primary aluminum output will likely hit 24.1 million mt this year. Global primary aluminum output reached 47.06 million mt last year, up 3.20%, compared with 46.61 million mt in global aluminum...
The United States Labor Department announced overnight that initial jobless claims in the week ending March 23 rose to 357,000, falling short of market expectations. The Chicago PMI index was 52.4 in March, down 4.4 points from February. Coupled with worries over the European debt crisis, all base metals prices fell last night. LME aluminum tested support at USD 1,900/mt, and failed to rebound even after the US dollar index retreated from 83. Finally, LME aluminum ended the day down 0.99% at USD 1,903/mt. Latest LME aluminum inventories increased 6,750 mt to 5,237,400 mt. The financial and stock markets in the US and Europe are closed on Good Friday. Downbeat economic figures from the US and China’s tighter control on banks’ wealth management products will keep SHFE 1306 aluminum contract...
U.S. Sen. Jon Tester says he is skeptical the shuttered Columbia Falls Aluminum Company plant will reopen after more than three years of trying to broker a power deal between owner Glencore and the Bonneville Power Administration. Tester held a listening session Tuesday for Columbia Falls residents on the plant, which has been closed since 2009. Tester and fellow Democratic U.S. Sen. Max Baucus sent a letter to the Environmental Protection Agency this month urging a study of contamination levels at the plant to determine whether it should be declared a Superfund site. Tester says the study would help decide options rather than going “down this road of false hope.” CFAC spokesman Haley Beaudry says a Superfund declaration could make it very difficult to reopen the plant.
