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...
Grow with
AL Circle
Several Century Aluminum workers are on their way to Frankfort, where they will lobby for a bill that would allow the company to buy energy on the open market. Both Century and Alcan say if they can't get cheaper electric rates from Big Rivers and Kenergy, they may be forced to close. Eyewitness News' Mike Pickett was in Hawesville as Century workers left for the state capitol.
Supporters of an endangered western Kentucky aluminum smelter are pushing for a House vote on a bill that would allow the plant to buy cheaper electricity. The group, from Hancock County where a Century Aluminum plant is located, visited the statehouse Wednesday to pressure lawmakers. Five days remain in this year's legislative session. Century Aluminum has said it will shut down if the power company Big Rivers doesn't lower its rates or allow the plant to buy electricity on the free market. Big Rivers has said a House bill that intends to resolve those issues would raise rates on residential customers. Lawmakers amended the bill to address rate concerns. But the utility has said lawmakers should not interfere in the matter.
Aluminium futures prices today fell marginally by 0.14 per cent to Rs 106.10 per kg in as speculators offloaded positions driven by weak global trend. At the Multi Commodity Exchange, aluminium for delivery in March declined by 15 paise, or 0.14 per cent, to Rs 106.10 per kg in business turnover of 806 lots. Similarly, the metal for delivery in April traded lower by 10 paise, or 0.13 per cent to Rs 107.75 per kg in 52 lots. Market analysts said speculators offloaded their positions in tandem with a weak global trend as a decline in US factory orders, raised demand concerns, mainly led to the decline in aluminium futures prices.
Norwegian aluminium maker Norsk Hydro said on Thursday it may build a new test plant at its site in Karmoey in western Norway with a capacity of 70,000 tonnes per year. If built, the firm plans to test new, more energy-efficient production technology at the plant. It said conditions for producing the metal in hydropower-rich Norway, where Hydro has four fully-owned plants and one part-owned, had improved in recent years, in part thanks to a new government CO2 cost compensation scheme. The investment would not take away Hydro's focus from its flagship installation in Qatar, the joint-venture Qatalum plant, where it has an option to expand capacity, Hydro spokeswoman Inger Sethov said. "This doesn't change our strategy, our foreign assets will be as important as our Norwegian ones," Sethov...
Alro, a subsidiary of Vimetco NV, a global, vertically-integrated primary and processed aluminium producer, has announced a net loss of US$50 million for the year-end 2012. Last year, the company posted a year-end 2011 profit of US$65 million. The company attributes the loss, or ‘main negative influence’ on ‘the derivative embedded in the company’s main energy supply contract with a specific IFRS treatment, adding that it didn’t affect Alro’s cash flow. Marian Nastase, Alro’s president of the board, said that the company capitalised on its major investments made in Romania and was able to achieve its operational targets despite the challenging market conditions. “We also improved our products portfolio and services, and were able to meet the demand of a wider range of customers,” he said,...
Though the fate of mega projects of Vedanta, Posco and ArcelorMittal is uncertain in Odisha, Aditya Birla Group Chairman Kumar Mangalam Birla today said two of his company's aluminium projects in the state were "on track". "Our two aluminium projects in Odisha are more or less on the track," Birla told reporters after meeting Chief Minister Naveen Patnaik this evening. Claiming that they do not have any problem in the state, Birla said "we discussed with the Chief Minister small issues. The state government has been very responsive and responding quickly." Birla said he apprised the Chief Minister of the progress made on the two aluminium projects. Asked about Essel Mining, Birla said "I have not come here to discuss on Essel Mining. I think we will have to wait for the Justice Shah...
Base metals consumption in China was tepid, and the euro zone revised its 4Q GDP to -0.9%, offsetting positive news from forecast-beating US ADP employment in February. As such, the US dollar index climbed to 82.604 overnight, causing LME aluminum to tumble below USD 1,950/mt to the lowest for the year. Positions surged by 6,666 lots due to massive short selling. Finally, LME aluminum closed 1.09% lower at USD 1,956/mt. Latest LME aluminum inventories increased 25,225 mt to 5,187,925 mt. A firm US dollar will weigh down aluminum prices . LME aluminum should stagnate around USD 1,950/mt and fluctuate in the band of USD 1,930-1,980/mt on Thursday. SHFE 1306 aluminum contract prices are expected to open lower at RMB 14,800/mt, with prices between RMB 14,750-14,850/mt. Trading should be thin...
United Co. Rusal PLC, the world's largest aluminum producer, on Tuesday dismissed a key shareholder's criticism of the company's plans to cut annual output by 7% as "unabashed populism." Sual Partners had called Rusal's plan to cut production by 300,000 metric tons at its less-efficicient smelters this year "premature" and a sign of a "failure in operational management." In a statement, Rusal said it considered Sual's comments "to be unconstructive and without merit." "The production optimization decision was reached by a majority of votes of Rusal's board, after careful consideration of the current situation faced by the aluminium market. Sual Partners' comments calling the decision 'premature' are baseless and they do not present an alternative solution but merely appear to be an...
Current Aluminum Prices On March 4, 2013, the day’s biggest mover was the cash price of primary aluminum, which saw a 2.9 percent decline on the LME to $1,914 per metric ton. The aluminum 3-month price weakened by 2.8 percent on the LME, settling at $1,961 per metric ton. After falling for two days, the Indian aluminum cash price rose 1.7 percent. Chinese aluminum closed mixed yesterday. Chinese aluminum billet fell 0.3 percent on Monday. The Chinese aluminum cash price fell 0.2 percent. The price of Chinese aluminum scrap saw little movement. The price of Chinese aluminum bar remained essentially flat.
Aluminium Bahrain (Alba), ranked as one of the largest aluminium smelters in the world, has appointed Shawqi Mohd Al Hashimi as the new director of it Line 6 smelter project. In his new role, Al Hashimi will oversee the development of the Line 6 expansion project as well as lead a team responsible for implementing some of the key action plans of the project. He will report directly to the CEO. He brings with him vast experience as project manager in regional smelters like Sohar Aluminium and Maaden. He began his career with Alba as an Electrical Technician in 1982 and was involved in the Line 5 expansion project as project manager in the carbon area. Announcing this on Tuesday, Alba CEO Tim Murray said, "We are pleased to welcome Shawqi back to Alba as he begins his new assignment as...
China's domestic aluminum production is now expected to reach 25 million mt in 2013, up from a forecast of 24 million mt at the start of the year, an analyst at state nonferrous metals information division Beijing Antaike said Tuesday. The latest forecast is 12.1% higher than the estimated 22.3 million mt produced in 2012. Actual figures for 2012 will be released later this month. Despite prevailing weak domestic aluminum prices and some resulting smelter cutbacks in recent months, China's output will rise mainly due to new capacity in the western regions, where costs are low, the analyst said. "As long as there are no major producers cutting back, output will continue to stay strong. We have not heard any yet and we doubt the big smelters will cut as it's too costly," the analyst said....
Emirates Aluminium (EMAL) further heightened its commitment to workplace safety for employees with an expanded 'EHS Representatives Program: Developing EHS leaders on the shop floor' for 2013. First launched in 2010 and now in its fourth year, employees receive training based on global best practice to make them accountable for shop floor safety and creating an evolving culture of continuous improvement for EMAL Environment, Health and Safety (EHS) performance. Seventy seven (77) EMAL employees are being trained this year to join the 100 EHS representatives that have already graduated from the program since its inception. Selected employees undergo yearlong comprehensive training together with Individual Development Plans, supported by the EHS Department to ensure achievement of overall...
Low aluminium prices and ‘investor sentiment’ are behind UC Rusal’s flat production figures for the year ended December 2012. The Russian aluminium giant – the world’s largest producer – says that total aluminium output for the fourth quarter of 2012 decreased by 2.1% to 1.03Mt compared with 1.06Mt for the same period in 2011. Across the whole year, Rusal produced 4.17Mt compared to 4.12Mt in 2011. The company’s share of value-added products output increased to 39% of total aluminium production, compared with 36% in 2011 and revenue increased by 2.4% to $2.6 billion compared with $2.5 billion the previous year. The cost per tonne of aluminium was reduced to $1,946 per tonne (down 1.9%) in 2012 compared with $1,984 in 2011 and power tariffs were down 9% at USc.3.17/KWh compared with...
Premier Wen said in his government work report yesterday that the Chinese economy will grow by 7.5% in 2013, boosting market confidence on stabilizing economy. Later, the US announced that ISM non-manufacturing PMI advanced to 56 in February, similarly improving market sentiment. As such, LME aluminum rose to challenge resistance at USD 2,000/mt, but failed to break through this mark due to sell-off at high prices. Finally, LME aluminum closed 0.08% higher at USD 1,977.5/mt. Latest LME aluminum inventories decreased 175 mt to 5,162,700 mt. The US dollar index is firm at 82, which will keep aluminum prices in check. LME aluminum should continue to meet resistance at USD 2,000/mt and fluctuate in the band of USD 1,960-2,000/mt on Wednesday. SHFE 1305 aluminum contract prices are expected to...
The Aditya Birla Group has chalked a plan to expand capacities of all its companies globally — including Novelis, Hindalco and UltraTech — which would raise the group’s turnover from $40 billion to $65 billion in two years. The look-abroad policy also includes the acquisition of a mid-sized chemical or a fertiliser company in North America. The group, which is investing $750 million (Rs 4,115 crore) in expanding the capacity of Novelis globally, is expecting new projects worth $15 billion in India — including Mahan aluminium project, Aditya Aluminium, Utkal Alumina and UltraTech’s cement capacity expansion — will help it meet the $65-billion target set by Chairman Kumar Mangalam Birla. Addressing a closed-door meeting of Owners’ Forum on Monday in New Delhi, Birla said India was very much...
With a decline of 1 percent on March 1, 2013, the Indian aluminum cash price recorded the biggest decline of the day. On the LME, the primary aluminum cash price showed little movement last Friday, hovering around $1,971 per metric ton. On the LME, the 3-month price of aluminum saw little movement last Friday at $2,016 per metric ton. Chinese aluminum prices were mixed for the day. Chinese aluminum billet ended the day with a 0.7 percent drop last Friday. The Chinese aluminum cash price saw a 0.7 percent decline. The price of Chinese aluminum scrap was essentially unchanged. The price of Chinese aluminum bar continues hovering in the same spot for the fifth day in a row.
Aluminium price declined sharply both inside and outside China after Chinese spring festival holiday. The price drop ranges of London aluminium and Shanghai aluminium are near 9% and 3%. Meanwhile alumina price in China keeps falling. Market prices in Shanxi, Shandong and southern China are near even lower than cost price. The pressure of output reduction is getting high. Factors like weak demand, funding pressure, falling economy situation and especially the dumping aluminium inventory acts of European banks, all give aluminium even metal prices bad effects. Chinese and global metal markets and economy situation of every country are facing operation problems and export pressure and other similar difficulties. Thus, discussions of new currency wars become more and more frequent. All the...
In the final days of the 2013 legislative session, lawmakers are wrestling with the possibility that well over 1,000 good jobs in Western Kentucky will be lost as electric bills soar for about 112,000 homes and businesses in the region. Two aluminum smelters that employ 1,200 have said they will close the facilities because what they pay for electricity from Big Rivers Electric Corp. If the aluminum companies can buy their electricity in the open market for about 30 percent less, they say they’d keep the smelters open. State law currently requires the companies to buy from Big Rivers, but bills sponsored by Democratic Rep. Tommy Thompson, D-Owensboro, and Sen. Joe Bowen, R-Owensboro, would change that. The sponsors say the bill would save the jobs of those who work at the smelters as well...
