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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UC Rusal, billed as the world's largest producer of primary aluminium, has announced that it will be cutting production at its less efficient smelters by 300kt by the end of 2013. The planned cuts, which have now been approved by Rusal's board, are designed to maintain the company’s competitive position in the global marketplace as the current overcapacity, high power tariffs and depressed metal prices kick in. Rusal claims that the production cuts will not 'deteriorate the social environment and quality of life in these regions', referring to the locations where the cuts will be made. In fact, the company will be addressing 'employment solutions' for all affected workers just as soon as the cuts programme has been ratified by the necessary governmental bodies involved. All employees...
Trimet Aluminium AG, Germany’s biggest producer of the lightweight metal, said it’s in discussions with Rio Tinto Group to buy two smelters in France. “We are in talks,” Martin Iffert, chief executive officer of Trimet, said by phone, declining to give further details. An official for Rio in London declined to comment. Rio has been seeking to sell at least 13 aluminum assets since 2011 when it grouped the operations in its Pacific Aluminium unit in preparation for a possible disposal. The Rio- Trimet talks started yesterday, Industry Minister Arnaud Montebourg told the French National Assembly. “We were worried that Rio Tinto, having announced its plans to exit the business, would simply shut the plants and move production abroad,” he said. “I’m fortunate to be able to tell you that,...
Aluminum in London rose to a one- week high and copper climbed for a third day amid speculation that an improving U.S. economy will drive prices higher, prompting Chinese users to place orders. Aluminum for delivery in three months gained as much as 0.6 percent to $1,993 a metric ton on the London Metal Exchange, the highest since March 5, before trading at $1,991 by 10:49 a.m. Shanghai time. Copper advanced 0.3 percent to $7,856 a ton. The fewest workers on record in the U.S. were fired in January and job openings rebounded, showing employers are gaining confidence the U.S. expansion will be sustained even as lawmakers battle to trim the federal budget deficit. Orders to remove copper from warehouses monitored by the LME jumped 40 percent to 33,400 tons, the biggest gain in more than two...
The industrial output in the euro zone fell 0.4% MoM in January, missing forecasts and dampening market sentiment. Despite a 1.1% MoM growth in the US retail sales in February, the US dollar index jumped above 83, weighing down base metals prices. LME aluminum rose to challenge resistance at USD 2,000/mt during early European session, but later gave back gains and lost support at the 10-day moving average due to downbeat economic data from Europe and a firm US dollar. Finally, LME aluminum closed down 0.50% at USD 1,972/mt. Latest LME aluminum inventories decreased 1,450 mt to 5,180,975 mt. Aluminum prices will have little upward momentum due to a firm US dollar, but will show some resilience at the same time on news that the State Reserve Bureau will invite tenders to buy aluminum ingot...
Aluminum prices depressed. China's industrial production data were disappointing, raising fears the market would demand for industrial metals, including aluminum will remain weak. Price of aluminum for three-month delivery on the London Metal Exchange (LME), Monday (11/3), fell 0.69% to U.S. $ 1,951.50 per tonne compared to the price the day before. Within a week, the price of aluminum has been corrected by 1.09%. The Chinese government released data industrial production rose to 9.9% in January and February. This is lower than the estimate of economists survey reached 10.60%. Other data calls, retail sales growth in China also slowed and new yuan-denominated loans decreased in the month of February 2013. Furthermore, economic data in Europe also less encouraging. French industrial...
Aluminium prices edged up by 0.33 per cent to Rs 106.45 per kg in futures trade on Wednesday as participants enlarged their positions, supported by a firming trend overseas. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in March inched up by 35 paise, or 0.33 per cent, to Rs 106.45 per kg in business turnover of 1,814 lots. Likewise, the metal for delivery in April traded higher marginally by 30 paise, or 0.28 per cent, to Rs 107.80 per kg in 135 lots. Marketmen said apart from increased domestic demand, a firming global trend helped aluminium futures to trade higher. Meanwhile, aluminium climbed 1.5 per cent to $ 1,981.50 tonne on the London Metal Exchange.
Production at the Tiwai Aluminium Smelter will be reduced by about 400 tonnes a week as the company starts to cut back on its electricity usage. The smelter is reducing its electricity load from 572MW to 540MW because of extremely low hydro lake levels. New Zealand Aluminium Smelter general manager Ryan Cavanagh said it was working closely with Meridian Energy to help conserve storage in the South Island hydro lakes. "We are working with customers and suppliers to minimise any adverse impact to production schedules," he said.
China's domestic spot aluminum alloy offers were under pressure as trading activity has failed to pick up, and also due to weak London Metal Exchange aluminum ingot prices, market sources said Tuesday. Leading Chinese producer Sigma Metals held its offer steady at Yuan 17,100/mt ex-works ($2,749/mt) Tuesday, unchanged week on week, while most non-Sigma offers were at Yuan 15,600-16,100/mt, similar to those heard last week. Platts maintained its weekly China domestic ADC12 assessment at Yuan 15,600-16,000/mt ex-works Tuesday, unchanged from the previous week. "Aluminum ingot prices rebounded from last week but remained weak," said an East China-based source. "ADC12 offers, which have been supported by steady scrap prices, appeared to be showing signs of easing, in view of thin spot trade...
Apollo Global Management backed company Constellium, which makes aluminum products for the aerospace and transportation industry, is starting to interview banks for an initial public offering, according to two sources familiar with the situation. The company, based in Paris, is 51 percent owned by Apollo, 39 percent owned by metals and mining giant Rio Tinto Plc and 10 percent owned by the French investment fund FSI. Constellium and Rio Tinto could not be reached for comment. Apollo Global Management declined to comment. The company was created after Rio Tinto acquired Canadian aluminum producer Alcan Inc for $38 billion. It divested part of Alcan's engineered products division in 2011 and the unit was later renamed Constellium. The company generates over 3.6 billion euros ($4.69 billion)...
Markets are cautious ahead of the release of US February economic indicators due later this week. Shorts liquidated positions to avoid risks after the US dollar index plunged overnight, helping LME aluminum regain support at near the 10-day moving average and hit a high of USD 1,986.8/mt. LME aluminum hovered at high levels at the tail of trading as longs refrained from buying at higher prices. Finally, LME aluminum closed up 1.23% at USD 1,982/mt. Latest LME aluminum inventories decreased 7,550 mt to 5,182,425 mt. Caution will dominate the market prior to the release of US retail sales data. LME aluminum should hold stable at USD 1,950/mt and fluctuate in the band of USD 1,950-1,990/mt on Wednesday. SHFE 1306 aluminum contract prices are expected to open higher at RMB 14,900/mt, with...
Aluminum production in China, the biggest producer and user, climbed to a record in January on capacity additions, data from the National Bureau of Statistics showed today. Production was 1.78 million metric tons in January, according to Bloomberg calculations based on the data. The figure exceeded the previous record of 1.75 million tons in August, said Zhang Chenguang, an analyst at SMM Information & Technology Co. The bureau doesn’t release January output data alone and may revise previous data without disclosure. Rising output will probably weigh on prices and force higher-cost smelters to cut output, affecting their earnings. Inventories tallied by the Shanghai Futures Exchange expanded to 492,267 tons last week, the highest since November 2010, as those in major trading hubs climbed...
Southland Chamber of Commerce says locals are spending less due to continuing uncertainty over the future of the Tiwai Point smelter. In August last year, owner New Zealand Aluminium Smelters said the plant was losing money and renegotiating the price it pays Meridian Energy for electricity was crucial to its future. Since then, $70 million in planned capital expenditure has been put on hold, 100 jobs have been cut. Power price negotiations are continuing. Southland Chamber of Commerce chief executive Richard Hay said worries over the plant's future are in the forefront of people's minds when it comes to spending, and the uncertainty is affecting consumer confidence. State Owned Enterprises Minister Tony Ryall said this is a commercial matter between Meridian and its longstanding customer.
A bid by Century Aluminum Co. to buy power on the open market in Kentucky could have larger implications for the troubled U.S. aluminum industry. Reuters reports that benchmark aluminum prices have dropped more than 30 percent in less than two years, and high-cost electricity is challenging the troubled industry, which has many aging plants. A Barclays analyst tells Reuters the Kentucky situation may force aluminum makers who cannot lower U.S. production costs to shift operations overseas.
LME three months prices were trading below $2,000/t at the time of writing. Sentiment remains weak amidst the potential turmoil in the Eurozone caused by the gridlock in Italian general elections, the US government sequester coming into effect on March 1, and disappointing data out of China. In the USA, distributors are experiencing a lackluster first quarter, and bad weather is also impacting construction activity. The star performer remains the transportation market. While we expect positive growth in demand for 2013 in North America, risks on the downside have increased. In Europe rolled products activity is steady but activity in the extrusion sector continues to decline, with big falls in demand from the solar sector. Meanwhile in China, latest PMI data were not as positive as...
Aluminium Bahrain B.S.C’s participation in two of North America's leading trade fairs for the metals industry highlights the company's commitment to raise its profile globally, to establish firmer links with industry peers, to share its experiences, and to learn of new trends, developments and innovations. A high level team from Alba led by the Chief Operations Officer, Isa Al Ansari attended the two conferences that took place in San Antonio, Texas, United States. The first conference was the 12th Annual Petcoke Conference that was organized under the theme "Stepping out of the Shadows" and took place on March 1 and 2, 2013. At The Minerals, Metals & Materials Society (TMS) 2013 Annual Meeting and Exhibition that was held from March 3 to 7, "Production Growth and Future Challenges in...
GE has received contracts totaling approximately $500 million to provide equipment and long-term services, directly and via engineering procurement contractors, for the Emirates Aluminium smelter complex in Abu Dhabi. The project is expected to result in lower emissions, addressing the United Arab Emirates’ goal to achieve cleaner and more efficient industrial growth and enabling EMAL to produce aluminum with better fuel efficiency. “A reliable and efficient supply of power is key to the success of our mission, as electricity accounts for a significant portion of the cost of producing aluminum,” said EMAL President and CEO Saeed Fadhel Al Mazrooei. “GE is successfully supporting both our Phase 1 and 2 projects with advanced power generation technology, while the new service agreements for...
Montana Sens. Jon Tester and Max Baucus have asked the U.S. Environmental Protection Agency to evaluate contamination levels at the shuttered Columbia Falls Aluminum Co. plant. The Democratic senators said they hope to determine whether the 120-acre industrial area could pose a risk to the community and jeopardize future economic development, and that a federal cleanup of the defunct plant could create new jobs. Glencore, which owns CFAC, closed the plant outside Columbia Falls in October 2009. Both senators have since worked with Glencore and the Bonneville Power Administration to negotiate a long-term power contract to restart the facility, but bleak market conditions and volatile metal and power prices have kept it from reopening. Tester and Baucus are now urging the EPA to study...
To be a winner in the aluminium industry, we must be the best in technology and operations. So we are working intensely to further develop and test the aluminium technology of the future - the worlds most energy-efficient and with the lowest CO2 footprint," says Hydro President and CEO Svein Richard Brandtzaeg. "At the moment, there is overproduction and inventories of aluminium are large. Any investment in new capacity will obviously be an element in evaluating of profitability and market balance," says Brandtzaeg. The conditions for continuing and developing aluminium production in Norway have improved in recent years. Development of renewable energy capacity has increased power supplies and conditions for more competitive power prices. In addition, compensation for CO2 costs in power...
