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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State senator-elect Dee Brown’s Dec. 17 announcement that she had asked the Flathead County commissioners to take the lead in getting the Columbia Falls Aluminum Co. smelter site designated as a Superfund site may have caught some state officials by surprise, but it spurred some action. Two administrators at the Montana Department of Environmental Quality said they didn’t anticipate Brown’s announcement. Larry Scusa, bureau chief for DEQ’s Federal Superfund Bureau, said the smelter site had been “flying below the radar” for his department, but he wasn’t sure about the Environmental Protection Agency. That could be because CFAC’s owner, Glencore, a large Swiss-based commodities valued at more than $60 billion, hasn’t clearly said whether it will or won’t restart the plant, which shut down...
Brass and select aluminium prices fell in an other wise a more or less mixed non-ferrous metal market here today stockists selling on the back of subdued demand from industrial users. Elsewere, Tin, lead, zinc and copper utensils rose owing good offtake from alloy and consumer industries. The industrial metal moved up at the LME amid improved China's economic data, though continued concerns about the US 'fiscal cliff' were looming over the gains. Brass utensils dropped by INR 6 per kg to INR 321 from previous closing level of INR 327. Brass sheet cutting and aluminium utensils scrap fell by INR 4 per kg each to INR 331 and INR 114 as against INR 335 and INR 118. Copper scrap heavy eased by INR 2 per kg to INR 483 from INR 485. Copper cable scrap, copper wire bar and copper sheet cutting...
Aluminium Bahrain (Alba) said it remains on track in broadening its production capacity and enhancing output levels with the recent announcement of an increase in the line current for Pot Line 5 to 360 kA. Ranked as one of the largest aluminium smelters in the world, Alba said the increase in line current is part of an initiative to raise performance in line with the recent upgrade of Pot Line 5 from AP30 to AP 36 technology. The upgrade will enable Alba to boost output since each 1 kA increase is expected to yield 950 tonnes of extra aluminium production each year. This landmark accomplishment was achieved by an internal team comprising members from the power, carbon operations & maintenance, process control & development, reduction operation & maintenance departments. Commenting on...
After drifting 1.3 percent on the LME, the cash price of primary aluminum dropped to $2,045 per metric ton, making it the biggest mover on the weekly Aluminum MMI®. Following a 0.6 percent drop on the LME, the aluminum 3-month price finished the week at $2,091 per metric ton. The Indian aluminum cash price rose 0.5 percent after falling 3.1 percent during the previous week. Chinese aluminum prices were mixed for the week. The Chinese aluminum cash price rose 0.2 percent. Chinese aluminum bar closed flat. The price of Chinese aluminum billet did not change since the previous week. Korean 3003 coil premium over 1050 sheet remained essentially flat from the previous week. Korean 5052 coil premium over 1050 sheet traded sideways. The week finished with no movement for European 5083 plate....
United Arab Emirates’ total exports of aluminium and its products rose by 102% (US$ 1.5 billion) during the first half of 2012 in comparison with the same period in 2011, a study released today by the Ministry of Foreign Trade (MoFT) has revealed. The growth is a continuation of previous increases of 56% and 42 % in 2010 and 2011 respectively. The study also revealed that UAE exports of aluminium products have achieved a competitive global edge and were capable of reaching 124 countries - especially in Asia and Europe - due to their production according to international standards and their high purity, as well as their widespread and intensive use in the automobile and aircraft manufacturing industry in the European Union. The study, which was conducted by MoFT economic advisor Dr Abdul...
Total world aluminum inventories in November fell by 87,000 metric tons from the previous month to 2.258 million tons, according to figures released Thursday by the International Aluminum Institute. World stocks in October stood at 2.345 million tons. November stocks were down 143,000 tons compared with the same month of 2011, when inventories totaled 2.401 million tons, the IAI said. The IAI details inventories as follows, in thousands of tons: November '12 October '12 November '11 Africa 134 159 136 North America 586 577 578 South America 191 212 186 Asia 465 456 475 Europe 810 842 939 Oceania 72 99 87 Total 2,258 2,345 2,401
Both the November existing home sales in the US and December Chicago manufacturing PMI released last Friday beat forecasts, but market focus was on the fiscal cliff talks restarted on December 30. The US dollar index staged a strong rebound and approached 80 as investors tried to avoid risks, weighing down commodity prices. LME aluminum found its low at USD 2,058/mt and dropped to near the 30-day moving average during the European session. Despite the decline of the US dollar index at the tail of trading, LME aluminum still failed to rebound. Finally, LME aluminum closed at USD 2,060/mt, down USD 20.5/mt or 0.99%. Latest LME aluminum inventories decreased 5,625 mt to 5,216,675 mt. Trading activity will turn increasingly quiet on the last trading day of 2012. LME aluminum should meet...
Sharekhan has come out with its report on Aluminium. According to the research firm, the crucial support for the base metal is at INR 111.5. Once that is broken, it can tumble till the range of INR 109-108 from the short-term perspective. After the double-bottom formation, MCX aluminium rallied sharply. It retraced nearly 88% of the previous fall. At that level, it faced a resistance from the weekly upper Bollinger Band and the medium-term falling trendline. Consequently, it formed a bearish inside bar and started falling. The daily momentum indicator has given a sell signal from the overbought level. The crucial support for the base metal is at 111.5. Once that is broken, it can tumble till the range of INR 109-108 from the short-term perspective. The swing high of 114.30 will act as a...
Chinese aluminum billet saw the biggest upwards shift for the day, rising 0.7 percent on Dec. 26, 2012 The Chinese aluminum cash price remained essentially flat. The price of Chinese aluminum bar continues hovering in place for the fifth day in a row. The price of Chinese aluminum scrap remained essentially flat as well. The cash price of primary Indian aluminum held steady yesterday. On the LME, the 3-month price of aluminum held steady around $2,091 per metric ton. The primary aluminum cash price steadied at $2,045 per metric ton following two-days of increases on the LME.
It is hoped manufacturing firms across the country can learn from the recent closure of the Kurri Kurri aluminium smelter. The Hydro plant closed down a few months ago, and out of nearly 330 workers more than 210 have either found full-time employment elsewhere, started studying or retired. A 'mothball crew' of nine people are still working to maintain the site while Hydro decides what to do with it. 2,000 hectares of land surrounding the smelter could become a future residential and industrial estate. Human Resources manager Trevor Hall says the Kurri closure is considered a case study of 'best practice'. "I think we've got some good stories to tell, especially around the jobs market day and getting people with the resumes organised and having a deadline date for that," he said. "What is...
Aluminium Bahrain, also known as Alba, said on Thursday that it has entered into term loan agreements to refinance a $169m bond which is due to expire in March Arabianbusiness. The term loans include a bilateral five-year loan of $85m with Gulf International Bank and a syndicated three-year loan of $84m with Ahli United Bank, National Bank of Bahrain, Tokyo-Mitsubishi UFJ Ltd, Arab Banking Corporation and Bank of Bahrain and Kuwait. Alba, which owns the world's fourth-largest aluminium smelter, said earlier this month that it has hired Bechtel Canada to conduct the feasibility study for its proposed $2.5bn expansion plan to add a sixth production line. Alba has said previously the new line - which will add 400,000 tonnes annual capacity to its current production of 881,000 tonnes a year -...
Aluminium Bahrain (Alba)'s reputation as an employee centred company was given a boost with the opening of the Alba Annual Camp 2012-13 on Sunday, December 23, 2011 at the campsite in Sakhir. Alba Chief Executive, Tim Murray and Chairman of the Alba Labour Union, Ali Bin Ali opened the Alba Camp, which will be made available for the use of all Alba employees and remain open for the next three months. Also present at the opening ceremony were the Chief Support Functions Officer, Basem Al Sharqi, Acting Chief Finance & Supply Officer, Ali Al Baqali, as well as members of the Alba Labour Union and other company officials. Commenting on the opening of the Alba Annual Camp 2011-12, the company's Chief Support Functions Officer, Basem Al Sharqi said: "Our commitment to employee welfare remains...
Expectations for the rebound of the Chinese economy helped LME aluminum jumped to a high of USD 2,108/mt during early European session. However, economic data in the US released later was mixed. Worries over the fiscal cliff talks and the sharp decline of US Consumer Confidence Index for December caused LME aluminum to give back earlier gains. Finally, LME aluminum closed USD 1.8/mt or 0.08% higher at USD 2,080.5/mt. Latest LME aluminum inventories decreased 9,825 mt to 5,222,300 mt. Aluminum will trade in a tight range due to thin trading activity ahead of the New Year holiday. LME aluminum should struggle at USD 2,080/mt and fluctuate in the band of USD 2,060-2,100/mt on Friday. The SHFE 1303 aluminum contract is expected to test support at RMB 15,300/mt, with prices between RMB...
Henan Zhongfu Industrial’s high-precision aluminum 1+4 hot continuous rolling project received success, this marked the transformation and upgrade of Henan Aluminum Industry has entered into new stage. This company was a subsidiary of Yulian Group which was came into the market in 2006, with 25.7 billion yuan of total assets. The company equipped with megaton aluminum and aluminum processing capacity, captive 90 kwp electric power, 150 thousand tons carbon and 3,000 thousand tons raw coal industrial scale.
Japan’s shipments of rolled-aluminum products declined 7 percent in November, the first drop in two months, as demand weakened from automakers and builders. Supplies to domestic and export markets decreased to 160,556 metric tons last month from 172,576 tons a year earlier, the Japan Aluminium Association said in a report today. Members of the association include Furukawa-Sky Aluminum Corp., Kobe Steel Ltd. and Nippon Light Metal Co.
Aluminium prices today edged up by 0.27 per cent to Rs 112.85 per kg at futures market on the back of strong domestic demand and firm global cues. At the Multi Commodity Exchange, aluminium prices for delivery in December gained 30 paise, or 0.27 per cent, to Rs 112.85 per kg, with a business turnover of 420 lots. The metal prices for delivery in January rose by 25 paise, or 0.22 per cent to Rs 114.20 per kg in a business turnover of 68 lots. Marketmen said the rise in aluminium prices at futures trade was in line with a firming trend in base metals at the London Metal Exchange on hopes that demand for the metals would rise after data showed Chinese industrial companies' profits rose 22.8 per cent in November from a year ago to 638.5 billion yuan.
With the commencement of Mahan smelter and Utkal alumina refinery in nearly three months' time, worse days for Hindalco seem to be over. The management of the company expects the Mahan smelter to start production by March, 2013. The commencement of production will help in generating cash inflows for the company. The decision to start the smelter was taken despite the company being deprived of captive coal till the stage-2 clearance for the Mahan coal block is received. Once mining starts at the Mahan coal block, there will be a reduction in the cost of production by nearly 25% (form $2000 per tonne to $1500 per tonne). The bauxite mining is expected to start by March next year and the same will be fed to the Utkal alumina refinery. Though the utilisation level of the refinery is expected...
The bleak outlook for Century Aluminum's Ravenswood smelter started to shine a little in March when the West Virginia Legislature gave its blessings to a special electricity rate for high-intensity industrial consumers. The Jackson County plant closed in 2009, eliminating 650 jobs, and eventually all health benefits for retirees were dropped. Karen Gorrell, who became a spokeswoman for the Century retirees, watched the year's negotiations with a careful eye, because their agreement with the company to reinstate their health care benefits is tied to the restart of the plant. Many Appalachian Power customers kept an eye on the story when Century's petition to the West Virginia Public Service Commission for a special rate included passing part of its cost to all other ratepayers. The PSC...
