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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Japan's imports of aluminum alloy from China fell last year, while European countries like Spain and Italy were seen sending more of the product into Japan, customs data released Wednesday showed. Japan imported 367,279 mt of aluminum alloy from China in 2012, down 19% from 446,134 mt imported in 2011. Its imports from Spain surged to 24,743 mt, up 411% year on year from 4,834 mt, and from Italy 5,636 mt, up from just 351 mt imported in 2011, Japanese customs data showed. Customs data for aluminum alloy under the code 7601-20-000 include primary and secondary aluminum. Imports from China, Spain and Italy are mostly secondary aluminum alloy of ADC12 specification used for automotive components, said industry sources. Imports from Spain and Italy jumped last year on the back of a stronger...
Rio Tinto has started a write-down of its Mozambique assets, which might lead to the partial sales of the activities bought less than two years ago through the Riversdale Mining acquisition. Entrance to Mozambique, where Rio hoped for a rapid exploitation of what it had defined the world's best coking coal reserves with significant growth potential – turned out to be an unlucky deal. Last week, the mining company wrote down $3 billion of its Mozambique assets after paying $4.2 billion for them. An additional write-down in the order of $10-11 billion concerns the corporate aluminium assets, but according to the company it's mainly the "unacceptable" mistakes in Africa that led to the immediate sacking of the Rio Tinto CEO Tom Albanese and of the CFO Doug Ritchie. Rio’s top management has...
The Ministry of Industry & Information Technology (MIIT) issued January 28 the Entrance Requirement for Aluminum Industry 2012 (Draft for Soliciting Opinions). This move suggests that the Chinese government has relaxed some in its control on new aluminum projects. The government will not continue with prohibition of all new aluminum projects. Instead, some requirement will be set for approval of new aluminum projects. The Entrance Requirement for Aluminum Industry 2007 stipulates that only aluminum projects that meet environmental protection and/or eliminate outdated capacity can be approved, while the 2012 draft sets that new aluminum projects must be in the form of coal (water)-electricity-aluminum integration or aluminum-electricity integration. Only aluminum projects that meet related...
Spot aluminum was mainly traded at RMB 14,910-14,920/mt in Shanghai on Wednesday, with discounts at RMB 80-90/mt. Low-iron aluminum was traded at RMB 15,000-15,020/mt. SHFE current-month aluminum contracts rose to challenge resistance at RMB 15,000/mt, allowing cargo holders to hike offers despite thin trading activity in spot markets. Spot aluminum prices thus stabilized at RMB 14,900/mt. Cargo holders stood on the sidelines against liquidity crunch at the month’s end and since most downstream producers have closed early for Chinese New Year. Most of the sellers were those who bought at lower prices earlier. Overall trading was light
Zhou Bingqun has put forward construction suggestions and advices on building a “hundred billion aluminum industry” based on advance resource. Zhou Bingqun said that Baise aluminum achieved 48.2 billion Yuan industrial value, 16.9 billion Yuan industrial added value, two billion yuan tax, which accounted representatively 55percent, 54 percent and 57 percent. Baise Aluminum boosted social development and became a highly profitable aluminum enterprise. Mr. Zhou put forward some suggestions on the development of Baise aluminum industry. Firstly, fighting for national approval of straight power supply; to reduce cost of electrolytic aluminum production, and improve market competitiveness of aluminum products. Secondly, improving capacity of electrolytic aluminum; solving the extension of...
In order to widen market, Chalco Shandong Branch adjusted products structure based on market demand. It got successful breakthrough. Recently, it gained first orders from some buyers from Germany. It is reported that the Germany purchaser mainly ordered processed aluminum body materials. Demand of this product is very heavy and it has bright market future. The order not only improved manufacturing situation of aluminum processing factories, but also promoted products structure optimization. Meanwhile, with development of foreign market, it could improve awareness of “Shanlv” profile internationally.
Goldman Sachs downgraded Century Aluminum (NASDAQ: CENX) from Neutral to Sell with a price target of $7.00, saying low aluminum prices continue to weigh on earnings. "We continue to be negative on aluminum fundamentals and while Century is working on cost reduction strategies through new power purchasing arrangements, most reductions will not be realized until 2014 and beyond, while aluminum prices are expected to be flattish in 2013 and 2014 at $0.93/lb (from $0.92/lb in 2012), and only move up to $0.95 in 2015," the firm comments. "As a highly LME-price sensitive name, we expect CENX will see multiple contraction through the year as aluminum prices remain under pressure." For an analyst ratings summary and ratings history on Century Aluminum click here. For more ratings news on Century...
"By the end of the year we will see prices at $2,300 per ton. In 2014, I hope there will begin a recovery in price and they will return to a fair level," said the company's first deputy chief executive Vladislav Soloviev, according to Russian media reports. The London Metals Exchange's three-month price for aluminum is currently $2,048 per ton. In the third quarter, the heavily-indebted company reported a net loss of $118 million largely due to weak aluminum prices that sunk as low as $1,918 per ton in that quarter, compared to $2,399 per ton in the third quarter in 2011.
The current GCC operating smelters Alba (Bahrain), Dubal (Dubai), Emal (Abu Dhabi), Qatalum (Qatar) & Sohar (Oman) have collectively produced 3,739,290 tonnes of primary aluminium in 2012, which constitute 9% of total world production compared to 3,488,357 in 2011. The GCC which also has thriving aluminium downstream industries has become one of the main center for aluminium production and most active regions in the world as regards to aluminium business. Accordingly, a number of industries that are associated with the aluminium business have established their base in the Gulf. This includes power generation manufacturer, suppliers, service providers, maintenance and logistics organizations. Aluminium industry is now one of the main economic drivers for the Gulf contributing to jobs...
Qatalum, the Qatari aluminium smelter, took part in the Aluminium Symposium, held on Tuesday at the Qatar Science Technology Park (QSTP). Sharing the podium alongside Hydro (the Norwegian producer), Qatar University and the Norwegian University of Science and Technology, Qatalum participated in a full day seminar covering the advantages and modalities of the usage of aluminium as a structural and engineering material. The seminar title was “Aluminium - The Sustainable Modern Metal For The Future of Qatar”, and the importance of the event and audience was clear in the presence of several in-house experts and senior management from the company, and from the other institutions taking part, to discuss the future of the industry and the challenge and opportunities that await. Qatalum’s CEO Mr....
An unidentified man has found a piece of aluminium that scientists say dates back 300 million years, while lighting a fire in his home in Russia. The piece of aluminium, which is several centimetres long and shaped like a gear tooth, was found stuck to a piece of coal. Scientists then dated the artifact and also said it could not have been created by nature, causing some to call it evidence of an alien race. The object was found to be composed of 98% aluminium and 2% magnesium. Aluminium very rarely exists in nature in such purity, and the technology required to shape such an object would not be invented on earth until hundreds of millions of years after the date of its supposed manufacture. Scientists have downplayed the idea while conducting further tests.
Analysts expect BHP Billiton Limited to write down the value of its Australian aluminium and nickel assets by some USD 4 billion in February in response to the continued strength of the Australian dollar and weak aluminium prices which have undermined hopes for a short term recovery. The miner's Australian aluminium and nickel assets are expected to register losses of about USD 600 million during this financial year. In delivering a solid Q1 production report which showed strength in its major units of iron ore, coking coal, copper and petroleum BHP said that although its least profitable nickel and aluminium businesses posted strong production results their outlook has not improved. The company said that the strong Australian dollar and weak pricing environment continued to place...
Reuters reported that China's daily average primary aluminium output rose to 56,800 tonnes in December from 55,400 tonnes in November. International Aluminium Institute data showed that production in December was 1.76 million tonnes up from 1.66 million in November. The country produced 19.7 million tonnes last year up from 17.78 million in 2011.
Qatalum CEO Tom Petter Johansen outlined the Qatari aluminium smelter's perspective on the trends in the global aluminium industry and forecast usage growth in the country and elsewhere in the GCC (Gulf Co-operation Council) at a symposium held at the Qatar Science Technology Park (QSTP) recently. Sharing the podium alongside Hydro (the Norwegian producer), Qatar University and the Norwegian University of Science and Technology, Qatalum's top executive participated in an event covering the advantages of aluminium as a structural and engineering material. Johansen threw light on the growth in aluminium demand, the multitude of opportunities for the metal brought about by global mega trends, primary production in the GCC (the fastest growth of primary aluminium production outside China),...
Norwegian aluminium producer Norsk Hydro has signed a contract with Rockwool to transform spent pot lining (SPL) into firesafe insulation. The deal ensures that SPL, which is classified as hazardous waste because it contains fluorides (among other things) is turned into rock wool, an important component of fireproof insulation. Under the new contract, Hydro will separate the carbon-rich material from the SPL and deliver it to Rockwool's pre-processing plant in Germany where the carbon is crushed and then used in the production of rockwool. Kristin Morkved, manager of Hydro's SPL project said that Rockwool's production process destroys any harmful elements in the SPL, making the contract between the two companies 'a very good environmental option'. Rockwool's Peter Logtved said that both...
Consumption of aluminium is set to rise between now and 2020, according to a recent market report. According to Roskill Information Services, global production of aluminium has grown by an average of 6.6% between 2002 and 2011 and by 18.4% in China. Consumption growth over the same period was 5.9%. On the downside, 'inventories overhang the market', claims Roskill. The report says that the industry will be stretched by rising production costs and low prices throughout 2013. Where raw materials are concerned, world production of bauxite and alumina is growing with Australia the largest bauxite producer accounting for almost 70Mt in 2011. Production in China, Indonesia and India has grown and Asia now accounts for a staggering 45% of global supply. Alumina production increased from 80Mt to...
UC Rusal's Bogoslovsk Aluminum Smelter (BAZ) plans to produce 33,000 tonnes of aluminum wire rod per year after the completion of its modernization, Rusal's representative in the Ural Federal District, Roman Lukichev told Interfax. He said BAZ does not currently produce wire rods. Rusal, the world's biggest aluminum producer, has approved the final version of a $25 million project to modernize the casting division of the sixth series at BAZ. The project will include the installation of a new line for production of wire rods. This decision was made in accordance with the agreement that was signed in September 2012 by managers of Rusal, the BAZ union and the authorities. In line with the September 16, 2012 agreement, financing for the project is to be provided by Vnesheconombank (VEB) at 7%...
Acknowledging that the production of primary aluminium has an inherently large environmental footprint, Dubai Aluminium (DUBAL),the entirely state-owned enterprise that operates the world's largest single-site primary aluminium smelter using pre-bake anode technology consciously strives to minimise the air emissions, solid and liquid waste generated by its Jebel Ali operations. Regarding air emissions, dedicated attention is given to reducing the volume of greenhouse gases (GHGs) released. The power generation and smelting processes, being two major sources of GHGs, receive particular focus. Conscious effort is also invested in optimising energy consumption levels across DUBAL's operations, so as to minimise the combustion of fossil fuels and the associated emissions into the atmosphere...
