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
Chalieco announced that its first total contracted overseas aluminum project ,located in Lintong,Vietnam,has began production recently,designed annual capacity of 650,000 tons. As Chalieco explained,Although Chinese mainland produces and consumpts maximum aluminum in the world,occupying more than 40% of the global market,the demand of raw materials exceeds the supply.Therefore,it is so necessary for non-ferrous metal industry to extend the overseas market. Chalieco also looks for opportunities for cooperation in Venezuela besides Vietnam.The vice president of Chalieco has talked over with local companies with his team recently,mainly exchanging of views on aluminum ,electrolytic aluminum and Aluminum processing Projects.
The implementation of the Supreme Court ruling on the sale of the Aluminium Smelter Plant at Ikot Abasi, Akwa Ibom State, is facing some hiccups, as the Bureau for Public Enterprises, BPE, has rejected any meeting with the preferred bidder, Bancorp Financial Investment Group, BFIG, to sort out the real worth of the firm. Although the apex court had ruled that the two sides should meet, evaluate and ascertain the true worth of the plant before signing the Share Purchase Agreement, SPA, the BPE had insisted that the court ruling was clear and did not call for any meeting between them. Armed with the SC ruling dated July 6, 2012, BFIG had approached the government agency to arrange a visit to the Ikot Abasi plant to ascertain the state of the plant and the real value of the assets so as to...
Barclays forecast a 1.8Mt market surplus for aluminium in 2013, which would drive the stock-to-consumption ratio to more than nine weeks over the course of the year. There is more diversity in perspective on the aluminium market this year, they said. The standout performer over the past week has been aluminium, where LME cash prices have risen to a six-week high just below $2,150/t. Barclays believe the move has largely stemmed from technicals and some subsequent CTA buying, with underlying fundamental conditions firmly in a surplus dynamic. Rusal, the world’s largest aluminium producer, stated that it sees the aluminium market balanced this year. The difference in view from the Barclays forecast stems largely from two assumptions in their view. First, Rusal expects close to 1-1.5Mty of...
The leader of Anglesey Council will make representations to the Anglesey Aluminium Metals (AAM Ltd) Board, emphasising the importance of the site to the Island's economic plight. The former Anglesey Aluminium site in Holyhead still has the potential to provide a huge catalyst for new jobs and growth – despite news of a possible further 60 redundancies. Anglesey Aluminium parent companies, joint owners Rio Tinto Zinc and Kaiser Aluminium, rejected a £48m bailout by the Government to keep the plant open in 2009 with the loss of nearly 400 jobs. Since then, Land and Lakes has put forward proposals to use land owned by the company to build a holiday village and heritage centre, while biomass proposals by Lateral Power were also unveiled for the site last year. Anglesey Council Leader,...
Aluminium prices on the London Metal Exchange fell from a six-week high in early Asian trading on Monday February 18 as China returned from a week-long holiday to sell the lightweight metal. LME three-month aluminium traded down $7 from open at $2,153.50 per tonne by 03:00 London time. The metal climbed on CTA buying to a high of $2,174 per tonne on Friday February 15, the highest level since January 3. "Despite the surge in ali on the LME during the holiday, it soon turned green today with the rest of the complex," an analyst at Hicend Futures said from Shanghai. "It’s no wonder given the poor fundamentals." LME copper also fell, losing $51 from its opening to trade at $8,173.50 per tonne at 03:00 London time. "Impetus for a noticeable recovery in demand in the base metals industry...
China's government aims to "vigorously" eliminate obsolete aluminium capacity in 2013 through economic measures such as differential power rates. The decommissioning of technologically backward smelters is a key work area in 2013, the ministry of industry and information technology (MIIT) said in a base metal industry outlook report issued on Saturday February 16. Economic measures such as power rates differentiation will be studied and employed so as to raise production input costs to impel obsolete smelters to exit the market, the ministry said. In addition, the authorities aim to accelerate the introduction of new entry requirements for aluminium industry, MIIT said. Entry requirements for secondary aluminium producers were drafted earlier in the year. China had 27.65 million tonnes of...
Aluminum in London declined by the most in three weeks as markets in Shanghai reopened after a week-long holiday amid expectations of growing supplies. Copper, zinc, lead, nickel and tin also fell. Aluminum for delivery in three months fell as much as 1.2 percent to $2,143 a metric ton on the London Metal Exchange, the most since Jan. 25. The metal climbed to $2,174 on Feb. 15, the highest in six weeks and recorded a 2.3 percent weekly advance. Futures for delivery in May on the Shanghai Futures Exchange closed 0.7 percent lower at 15,140 yuan ($2,427) a ton. “Expectations for further gains in aluminum production in China mean Shanghai prices are ignoring the gains in London last week,” said Fang Junfeng, an analyst at Shanghai CIFCO Futures Co. “While seasonal demand may increase after...
According to the data renounced by Chinese Customs Bureau in 8th Feb.,2013:Chinese alumina imports reached 490,000 tons in Jan.,cumulative 490,000 tons in the same month,9.3% increased from the same month last year. China imports 69,024 tons of unwrought aluminum and semi-finished aluminum productsin Jan.,cumulative 69,024 tons in the same month ,26.2% below the same month last year. Chinese aluminum scrap imports reached 210,000 tons in Jan.,cumulative 210,000 tons in the same month,55.7% increased from the same month last year. China imports 50,431 tons of no-forged aluminum in Jan.,cumulative 50,431tons in the same month ,15.6% below the same month last year.
Aluminium Bahrain BSC expects demand for the metal to increase this year as Saudi Arabia and other Middle Eastern countries spend more on housing, while sales will also rise in North America. “The physical demand this year looks healthy,” Chief Executive Officer Tim Murray said today on a conference call. Aluminum prices on the London Metal Exchange may average $2,000 in the first six months of 2013 and rise as high as $2,200 in second half, according to the state-run company known as Alba. The Persian Gulf metals producer is moving ahead with a planned $2.5 billion expansion to add a sixth pot line, or production facility. A feasibility study for the project will be completed in the third quarter, Murray said. Sovereign wealth fund Bahrain Mumtalakat Holding Co. holds a 69 percent stake....
The results of packing giant Amcor and global miner Rio Tinto indicate fortune does indeed favour the prepared. Rio Tinto, the world’s second-biggest mining group, reported its first ever annual loss last week, following more than US$20 billion (HK$155.1 billion) in write-downs since its top-of-the-market US$38 billion (HK$294.7 billion) takeover of aluminium firm Alcan in 2007. On the flipside, Australia’s Amcor on Monday announced an almost 6 per cent jump in its half-year profit, underpinned by its US$2 billion acquisition of the Alcan flexible food and tobacco packaging units that Rio Tinto dumped three years ago, after the global financial crisis hammered the mining company. When Amcor sealed the Alcan deal to become the world’s biggest maker of flexible food, healthcare and tobacco...
North Sumatra administration along with its 10 regencies and municipalities have agreed to form a regional-administration-owned enterprise (BUMD) in hopes of obtaining shares and taking part in the management of PT Indonesia Asaham Aluminium (Inalum) after Japanese consortium Nippon Asahan Aluminum’s contract to manage Inalum ends in October of this year. The provincial administration said that the establishment of the BUMD was a demonstration of the province’s seriousness of wanting to be involved in the running of the aluminum smelter. Acting governor Gatot Pujo Nugroho said that in the 30 years that Inalum had been managed by Japanese investors, North Sumatrans had only been spectators. “We don’t want to experience the same thing for the next 30 years. We want to cease being only...
BFIGroup Corporation, the American-Nigerian consortium recently reinstated by the Supreme Court as the preferred bidder for the Aluminium Smelter Company of Nigeria, ALSCON, Ikot Abasi, Akwa Ibom State, on Friday said it has instituted a N2.8 billion lawsuit against UC RUSAL for damages over the bid for the plant. The suit filed at the Federal High Court, Abuja is for compensatory damages for "tortuous interference" in BFIG's contractual relations with the Bureau for Public Enterprises, BPE; conspiracy to defraud; unfair competition and interference in prospective business advantage in the acquisition of ALSCON. Defendants in the case includes all companies under the umbrella group, United Company, UC, RUSAL, consisting JSC Russian Aluminium (RUSAL); JSC Bratsk Aluminium Plant; RUSAL...
Aluminium prices traded higher by 0.35 per cent to Rs 114.05 per kg in futures trading as speculators enlarged their positions in tandem with a firming global trend. At the Multi Commodity Exchange, aluminium for delivery in February traded higher by 40 paise, or 0.35 per cent to Rs 114.05 per kg in business turnover of 1722 lots. Similarly, the metal for delivery in March edged up by 30 paise, or 0.26 per cent to Rs 115.15 per kg in 158 lots. Market analysts attributed the rise in aluminium futures to a firming global trend where aluminium traded near a one-month high as demand prospects for the light metal improved amid advancing car sales and rising fuel costs. Meanwhile, aluminium for delivery in three months increased 0.2 per cent to $2,147 a tonne on the London Metal Exchange.
State-owned National Aluminium Company Ltd (Nalco) has increased prices of all its products by Rs 5,000 per tonne, a senior company official said on Sunday. "We have increased the price of all our aluminium products by Rs 5,000 after aluminium gained in the London metal exchange," the official said. Nalco products include aluminium ingots, sows and billets. Nalco is Asia's largest integrated aluminium producer and its sales prices are watched as they generally serve as an international benchmark. The basic price of standard aluminium ingots after the latest revision increased to Rs 144,700 per tonne, the official said.
What is often dubbed the metal of the future for its impressive demand growth profile has been an albatross for the resources giant ever since it made that fateful 38-billion acquisition of Alcan back in 2007. Five years on and 29 billion of write-downs later and aluminum is still a highly problematic part of Rio's portfolio. Earnings before interest, tax, depreciation and amortization (EBITDA) in its Alcan business slumped by 38 percent to 1,085 million last year. Underlying earnings, which Rio describes as "the key financial performance indicator which management uses internally to assess performance," collapsed to just 3 million from 442 million in 2011. The picture, however, deteriorates when it comes to the company's Pacific Aluminum business, a catch-all for the assets Rio has...
Aluminium Bahrain (Alba), which owns the world's fourth-largest aluminium smelter, posted a 54.4 per cent slump in last year profits yesterday, citing lower prices for the decline. Alba reported net profit of US$256 million (Dh940.3m) for 2012, down from $562.1m in 2011, according to a bourse filing in Bahrain. The company also blamed higher energy costs for the decline in income. Sales fell 16 per cent year-on-year to $1.98 billion in 2012. Aluminium cash prices on the London Metal Exchange dropped 16 per cent last year, with an average cash price of $2,019 a tonne, versus $2,398 a tonne in 2011, Alba said. The country's state-run energy supplier had raised the price of gas it sells to Alba at the beginning of last year by $0.75 per million British thermal units (mmbtu) to $2.25/mmbtu,...
Maputo — One of the world’s largest manufacturers of aluminium cables, Midal of Bahrein, is to set up a factory in Mozambique, using the aluminium ingots produced at the Mozal smelter at Beluluane, in the outskirts of Maputo, as its raw material. On Friday, Mozal Chairperson Danie Murray and Midal Managing Director Hamid Al-Zhayani signed an agreement under which Mozal will supply 50,000 tonnes of aluminium ingots per year to Midal. Al-Zhayani signed a separate agreement with Nelson Ventura, the Chief Executive Officer of the Beluluane Industrial Park, allocating land to Midal next to the Mozal smelter. Al-Zhayani said the factory, costed at 16 million US dollars should be built by June 2014. It will initially employ 150 Mozambican workers, rising eventually to 400. Up until now, every...
World no.3 miner Rio Tinto reported a 47 percent plunge in half-year underlying profit on Thursday, its worst since 2009 due to sharp falls in commodity prices, although its new chief pointed to a pick-up in China as a positive sign. Chief Executive Sam Walsh was anointed last month when his predecessor was sacked for misjudged aluminium and coal acquisitions that led to $14.4 billion in writedowns and left the company in the red for the first time ever in calendar 2012. "Looking ahead, we see the positive momentum in the fourth quarter of last year being sustained into 2013 with Chinese GDP growth returning to above 8 per cent in 2013," Walsh said in a statement. Underlying profit fell to $4.149 billion for July-December 2012 from $7.768 billion a year earlier. That beat analysts'...
