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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In order to learn the inspection and management situation of science and technology project in autonomous region, Likun who is the group leader of Municipality Science Technology Department Inspect Discipline Team together with other five team members came to Baise Aluminum conducted investigate and survey, in the company of Zhang Kaiyue who is the director of Guangxi Investment Yinhai Aluminum Technology R&D Center. The research group visited potroom, listened company’s achievements in production and management, electrolysis process flow and technology improvement. The group spoke highly of company’s achievements in technology improvement, encouraged the whole company to make innovations actively, to get more patents.
Union government-owned aluminium maker -- Nalco -- will be shutting down about 3-4% of its aluminium capacity over the next fortnight due to higher import and e-auction coal prices. BL Bagra, director (finance), Nalco, said that the company had shut 60 pots last year which translated to about 7-8% of its capacity. “Now, we are looking to shut down another 3-4% capacity as the imported coal and e-auction coal prices are unviable.” Aluminium requires huge quantities of power which is generated by burning coal. Nalco gets close to 90% of its coal requirements from Coal India. However, close to 12% of Nalco's coal requirement is met through import and e-auction process, which is leading to higher production cost. London Metal Exchange (LME) rates of aluminium have been hovering at around...
The record glut in aluminum will be no bar to rising prices because of delays in getting metal from warehouses, even as Barclays Plc advises investors to sell and Morgan Stanley says it has the worst outlook of any commodity. Stockpiles will expand for at least the next four quarters, reaching a record 8.67 million metric tons by the end of 2013, or enough to make about 62 million cars, Barclays estimates. Production will exceed demand by the most since 2009 as output expands from China to Saudi Arabia, the bank says. Futures will rise as much as 16 percent to $2,400 a ton next year, the median of 29 analyst estimates compiled by Bloomberg. The gains are forecast as the metal is not always available. Buyers are waiting about a year to get metal from warehouses in Detroit and the Dutch...
Credit is due the West Virginia Public Service Commission for seeing through the smokescreens thrown up by Century Aluminum in the company's quest to obtain a special electricity rate. Century closed its Ravenswood smelter in 2009 after aluminum prices slumped, putting 650 people out of work. The company came back earlier this year saying it would like to reopen its plant -- if it could get a special electricity rate from Appalachian Power that would fluctuate with the ups and downs of aluminum prices. After receiving a separate state commitment for a $20 million tax break, Century filed a proposal for a special rate with the Public Service Commission. One problem -- and a big one -- was that Century wanted to put other Appalachian Power customers on the hook if aluminum prices remained...
Kobe Steel Ltd. said Tuesday it has decided to scrap a plan to build an aluminum plant jointly with a Chinese partner in Baotou, in China's Inner Mongolia Autonomous Region. The Japanese company and Jiangsu Alcha Aluminium Co. reached a basic accord to construct a new building with outlays worth 40 billion yen ($472 million) in December 2011. But a rift between the two companies in the course of a feasibility study prompted the decision to scrap the basic accord. A Kobe Steel spokesman denied a Nikkei report earlier Tuesday that political tensions between Tokyo and Beijing were behind the decision.
State-run firms Gujarat Mineral Development Corp Ltd and National Aluminium Co Ltd are expected to begin construction of their Rs 15,000-crore (Rs 150-billion) aluminium plant joint venture in Gujarat's Kutch in four months. The companies have signed a primary agreement to value-add bauxite and then, a detailed agreement was prepared and sent to Nalco, according to V S Gadhvi, managing director of GMDC. GMDC is expecting Nalco to reply by mid-January and with all other state approvals, construction work is expected to begin at the earliest by April, Gadhvi told Business Standard. The project was first envisaged in 2010 when GMDC floated tenders to find partners. But because of the lack of response from companies, it had to delay the deadline twice. GMDC chose Nalco as its partner in...
Aluminium futures prices declined by 0.17 per cent to Rs 114.10 per kg today as speculators indulged in reducing their positions largely in tune with a weak spot demand. However, gains in copper and other base metals at the London Metal Exchange (LME) capped the losses. At the Multi Commodity Exchange, aluminium for delivery in January edged lower by 20 paise, or 0.17 per cent, to Rs 114.10 per kg, with a business turnover of 20 lots. The metal for delivery in December fell by 15 paise to Rs 113.15 per kg in a turnover of 194 lots. Marketmen said a weak trend at the spot markets owing to sluggish demand mainly put pressure on the aluminium prices at futures trade but a firming trend in base metals at the LME following positive US data, averted major fall.
The biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 3.1 percent decline. This comes on the heels of a 0.1 percent increase the week before. The primary aluminum cash price fell 2.9 percent on the LME to $2,072 per metric ton after rising 1.9 percent the week before. Following a 1.9 percent increase in the week prior, the 3-month price of aluminum fell 1.3 percent on the LME last week to $2,104 per metric ton. Chinese aluminum prices were flat for the week. Korean 3003 coil premium over 1050 sheet prices held steady from the previous week, as did Korean 5052 coil premium over 1050 sheet. European 5083 plate traded sideways last week, and prices for European 1050 aluminum closed flat.
Aluminium Bahrain B.S.C. (Alba) remains poised to deliver on its promise to improve efficiency and seamless operation of processes when the company announced its participation in the early adoption of the new Windows Server 2012 Hyper-V 3.0 and System Center 2012. The announcement was made during the Windows Server 2012 Bootcamp organised by Microsoft Bahrain on December 19 & 20, 2012 at the Sheraton Hotel. The event was held to mark the official launch of Windows Server 2012 for the Bahrain market. Alba was chosen to be part of the Rapid Deployment Programme (or RDP) of this cutting edge platform in May 2012. The deployment was achieved across the company's multiple datacentres to help achieve the best private cloud environment. Commenting on Alba's adoption of Windows Server 2012, the...
Spot demand in the European physical aluminium market remains weak with little market activity reported as the seasonal holiday approaches. "There's nothing going on. Just a little end of year stuff," said one European trader. The trader said that business had pretty much been completed for the first quarter now and that most market participants had closed their books for the year. A producer said that premiums had weakened to the lower end of the current range at the beginning of the weak as the Dec/Jan backwardation continued to trouble some market participants. However, the producer said that the backwardation had now been flushed out now and premiums had maintained their range. The producer said that premiums were at $280/mt plus LME cash on a duty-paid basis and at $225/mt plus LME...
Emirates Aluminium (EMAL) and the University of Sharjah have signed a collaboration agreement to promote initiatives in the field of training and research for the aluminium industry. The agreement was signed by Saeed Fadhel Al Mazrooei, President and CEO, EMAL, and Professor Samy A. Mahmoud, Chancellor of the University of Sharjah . Under the terms of the agreement, EMAL and the University of Sharjah will work together to promote education, training, research and the advancement of science and technology in the United Arab Emirates. This will include: strengthening collaboration between EMAL's Center of Excellence and University of Sharjah to develop specialized training programs in science and metallurgy materials, and identify research projects in primary and downstream aluminium...
The US durable goods orders and personal income were upbeat in November, but no progress has been made over the fiscal cliff talks, deterring investors from entering the market ahead of the Christmas Day. Short-covering helped push LME aluminum prices up to USD 2,097.3/mt during the European session. Positions were down an astonishing 11,586 lots. Nevertheless, LME aluminum gave back some of the earlier gains at the tail f trading. Finally, LME aluminum closed USD 21.5/mt or 1.04% higher at USD 2,083/mt. Latest LME aluminum inventories increased 4,550 mt to 5,241,525 mt. Aluminum prices will be rangebound ahead of Christmas Day. LME aluminum should stall at USD 2,080/mt and fluctuate in the band of USD 2,065-2,095/mt on Monday. The SHFE 1303 aluminum contract is expected to open higher at...
The European Commission has adopted a decision that renders legally binding the commitments offered by Rio Tinto Alcan to address concerns raised by the Commission about competition on markets for aluminium smelting equipment. The Commission was concerned that the company may have infringed EU antitrust rules by contractually tying the licensing of its leading Aluminium Pechiney ("AP") smelting technology to the purchase of handling equipment (namely, pot tending assemblies or "PTAs") from its subsidiary Electrification Charpente Levage ("ECL"). PTAs are specialty cranes used in aluminium reduction plants (smelters) where primary aluminium is produced. Rio Tinto Alcan committed to modify its future technology transfer agreements so as to enable licensees of its AP technology to purchase...
S.C. Padhy assumed office as the new director (HR) at National Aluminium Company Limited (NALCO), one country's largest aluminium companies, on Thursday. Prior to this assignment, Mr Padhy was with Mahanadi Coalfields Limited (MCL) as the director (personnel). A post graduate in Labour and Social Welfare, Mr Padhy brings along his rich experience in the management of human resources through his association with Tata Mines, NTPC, Satluj Jal Vidyut Nigam (SJVNL) and MCL. Two of his notable contributions in the field of HR are the implementation of 'Performance Related Pay (PRP)' based on the tenets of Balanced Score Card at SJVNL and 'Rationalization of Manpower' including effective utilization of excess manpower through retraining and redeployment. Mr Padhy presently holds the post of...
World Aluminium markets remained in a surplus of 143000 tonnes in the first ten months of 2012, this was following a surplus of 1.87 million tonnes recorded in the full year ended 2011. World Bureau of Metal Statistics (WBMS) said that total reported stocks were 7.23 million tonnes at the end of September 2012, up 31000 tonnes in October. The stocks were up from 6.99 million tonnes by end of 2011. Total stocks held in the four exchanges in London, Shanghai, USA and Tokyo were 5.52 million tonnes at the end of October 2012, which was 33000 tonnes above the December 2011 total. Aluminium production in January-October 2012 increased by 588000 tonnes from the same period in 2011 and following on from a 3.10 million ton increase over the whole of 2011. Global production in the first ten months...
Vale SA, the world’s largest iron- ore producer, said it will book a $4.2 billion fourth-quarter charge after lowering the valuation of a nickel mine and its stake in aluminum producer Norsk Hydro ASA. (NHY) Vale will take a $2.85 billion pretax writedown on its Brazilian nickel project Onca Puma after operations stopped and prices for the metal declined, the company said in a statement late yesterday. The Rio de Janeiro-based miner said it will also recognize a $1.3 billion pretax impairment on its 22 percent stake in Oslo-based Norsk Hydro. “The downward volatility of aluminum prices and the macroeconomic uncertainties about the European economy have contributed to reduce the market value of our 22 percent stake,” Vale said. “Despite these charges, we remain confident on the long-term...
Russian Aluminum, or Rusal, and OJSC Rosenergoatom have signed a two-year agreement on the supply of electric power at a price of three cents per kWh, a joint statement issued by the companies says. The contract involves the supply of electricity from Beloyarsk Nuclear Power Plant to Boguchany Aluminum Smelter (BAZ) during the period 2013-2014 (as BAZ is being modernized) in an amount necessary for the production of aluminum at the aluminum plant's sixth series (facilities 5 and 6). Power supply is to begin on the first of next year. The contract was concluded per deputy prime ministerial instructions and an action plan worked up by the Economic Development Ministry and coordinated with Russian President Vladimir Putin. The parties also inked the agreement in fulfillment of a four-party...
Century Aluminum is reviewing the Public Service Commission's rejection of its proposals for a special electricity rate for its Jackson County plant. Century Aluminum spokeswoman Lindsey Berryhill said that the company remains committed to restarting the plant in Ravenswood. The company had asked the PSC to reconsider a plan proposed by regulators in October. The plan allows a special electricity rate for the plant for up to 10 years. But it also keeps Century ultimately responsible for making up the difference between the rate and actual power costs. Century says the plan isn't sufficient to allow a restart of the plant. It asked the PSC to reconsider and submitted two alternative plans. The plant closed in 2009.
