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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Being an extremely electricity-intensive industry, a continuous supply of energy is critical for business continuity at Dubai Aluminium (DUBAL) - the entirely state-owned corporation that operates the world's largest single-site primary aluminium smelter using pre-bake anode technology. Although DUBAL has a captive power station and is essentially self-sufficient in terms of electricity, the company places substantial emphasis on conserving energy through efficiency-improving measures. It's an approach that simultaneously supports the Dubai Integrated Energy Strategy 2030 (DIES 2030), which targets efficient energy use to meet the Emirate's environmental and sustainability objectives - in turn supporting the efforts of the UAE to optimize energy utilization and diversify energy sources....
The New York Federal Reserve Bank said on Monday its 'Empire State' manufacturing activity index fell to -8.10 in December and was well below forecasts, rekindling market risk aversion. President Obama is trying to solve the fiscal cliff before the Christmas Day. Otherwise, massive tax increases and spending cuts will automatically take effect from January 2013, hampering economic recovery. LME aluminum found it low at USD 2,088/mt during the European session, but regained some losses at the tail of trading due to optimism towards the fiscal cliff. Finally, LME aluminum closed USD 17/mt or 0.80% lower at USD 2,108/mt. Latest LME aluminum inventories increased 28,275 mt to 5,202,400 mt. Caution will dominate the market until agreement is reached on the fiscal cliff. LME aluminum should...
On BSE, 60,242 shares were traded in the counter as against an average daily volume of 71,374 shares in the past one quarter. The stock hit a high of Rs 48.15 and a low of Rs 47.15 so far during the day. The stock had hit a 52-week high of Rs 68.45 on 16 February 2012. The stock had hit a 52-week low of Rs 44 on 26 November 2012. The stock had underperformed the market over the past one month till 3 December 2012, rising 2.20% compared with the Sensex's 2.93% rise. The scrip also underperformed the market in past one quarter, sliding 13.96% as against Sensex's 11.05% rise. The large-cap company has an equity capital of Rs 1288.62 crore. Face value per share is Rs 5. National Aluminium Company (Nalco) revises product prices at regular intervals to reflect prices in the global commodity...
India's third-largest aluminium producer National Aluminium Co Ltd (Nalco) has hiked aluminium prices by Rs 2,000 a tonne for all products in the domestic market, with effect from December 14, the Reuters reported Saturday, citing company sources. The basic cost of standard aluminium ingots after the latest price revision rose to Rs 145,700 a tonne, the news agency quoted the sources as saying. The company makes revisions in prices of aluminium from time to time to match up with the rates on London Metal Exchange. Earlier, on December 1, NALCO hiked aluminium prices across all products by Rs 4,500 per tonne, the news agency had said, citing sources. Aditya Birla Group's flagship firm Hindalco Industries Ltd is the largest producer of aluminium in India, with nearly 40% of the total...
Alcoa Chairman and CEO Klaus Kleinfeld praised the bipartisan leadership that led to today's signing of the Russia and Moldova Jackson-Vanik Repeal Act of 2012 in the Oval Office at the White House. President Obama's signature paves the way for Permanent Normal Trade Relations with Russia through the rules-based World Trade Organization (WTO). Kleinfeld witnessed today's signing by the president in the Oval Office. "We applaud President Obama for signing this important legislation that guarantees U.S. companies the same advantages of Russia's WTO commitments as our foreign competitors," Kleinfeld said. "This is a historic moment in U.S.-Russia relations and marks the beginning of a new era in bilateral commercial cooperation that will benefit global trade and American jobs." Alcoa first...
Aluminium Bahrain B.S.C. (Alba) provided a tangible demonstration of its pride in being a Bahraini company as company officials along with employees joined together in celebrations held to mark Bahrain's 41st National Day on Thursday, December 13, 2012. Alba's Chief Executive, Tim Murray, Chairman of Alba's Labour Union, Ali Bin Ali as well as members of the senior Executive Management, managers of various departments, union members and employees took part in the festivities that was held at the plant. A sea of red and white - the colours of Bahrain's flag - formed a key component of decorations in various departments across the plant. Traditional Bahraini sweets along with cakes and other delicacies were also shared as part of the celebrations. Commenting on the company's National Day...
The biggest mover on the weekly Aluminum MMI was the LME aluminum 3-month price, which saw a 1.9 percent increase to $2,132 per metric ton. This week marked the third in a row of rising prices for the metal. The primary aluminum cash price rose 1.9 percent on the LME this week, closing out the third week of increases at $2,134 per metric ton. Also closing out the third week of rising prices, the cash price of primary Indian aluminum increased by 0.1 percent. For the third week in a row, the cash price of Chinese aluminum dropped, falling 0.6 percent. Chinese aluminum billet fell 0.3 percent over the past week. Prices for Chinese aluminum bar remained constant. Korean 3003 coil premium over 1050 aluminum sheet remained unchanged for the week. Korean 5052 coil premium over 1050 sheet prices...
The Dutch port town of Vlissingen stores 1.44 million tons of aluminum in London Metal Exchange warehouses, overtaking Detroit's inventory of 1.42 million tons, Bloomberg News reports. Nic Brown, the head of commodity research at Natixis SA in London is quoted by Bloomberg News as saying Detroit and Vlissigen "have been going neck and neck for a while now. " Vlissingen, also historically called Flushing, is a former fishing village in the southwestern corner of the Netherlands. The historic city is where ships for the Royal Dutch Navy are built. It is also a tourist destination because the 50,000 ships that pass through its port each year pass supposedly closer to shore than anywhere else in the world. Detroit, of course, is where cars are built, and stored supplies of aluminum for those...
The state Public Service Commission denied both alternatives Century Aluminum offered in October in its special electricity rate case because the company's proposals still place the risk on Appalachian Power's customers, the PSC ruled Friday. But the commission proposed that Century may negotiate with other parties involved, like Appalachian Power and the West Virginia Energy Users Group, to try to negotiate a special electricity rate. The aluminum plant in Ravenswood has been shuttered since early 2009. Century has asked for a special rate for electricity based on the price of aluminum. The PSC and its Consumer Advocate Division have repeatedly rejected putting an unreasonable risk on ratepayers and reiterated that notion Friday. "The most odious element of the 'immediate restart plan'...
The upbeat flash manufacturing PMI in China and the US for December boosted market confidence. However, manufacturing activity in the euro zone contracted in the fourth quarter, clouding market outlook. A weaker US dollar failed to give a lift to commodity prices. LME aluminum found it high at USD 2,133.5/mt during early European session, but later gave back earlier gains. Finally, LME aluminum closed USD 8.5/mt or 0.40% higher at USD 2,125/mt. Latest LME aluminum inventories increased 14,825 mt to 5,174,125 mt. Investors are awaiting more market direction. LME aluminum should struggle at the 5-day moving average and fluctuate in the band of USD 2,115-2,135/mt on Monday. The SHFE 1303 aluminum contract is expected to open at RMB 15,425/mt, with prices between RMB 15,380-15,450/mt. Spot...
The government has terminated the services of state-owned Nalco’s suspended Chairman and Managing Director, A K Srivastava with effect from December 11, the company today said. “The President of India has terminated the services of Abhay Kumar Srivastava as chairman-cum-managing director (under suspension) of the company with effect from December 11, 2012 vide order dated December 11, 2012 of Ministry of Mines, Government of India,” Nalco said in a filing to the BSE. The Bhubaneswar-based National Aluminium Company (Nalco) has been without a regular chief since February, 2011 after CBI arrested Srivastava on charges of taking bribe. The mines ministry then suspended him and handed over the charge on temporary basis to the senior most company official, B L Bagra. Later, Srivastava was...
Aluminium futures prices declined by 0.22 per cent to Rs 115.25 per kg today as speculators offloaded their positions, triggered by a weakening trend in base metals in the global markets. At the Multi Commodity Exchange, aluminium for delivery in January edged lower by 25 paise, or 0.22 per cent, to Rs 115.25 per kg, with a business turnover of 69 lots. The metal for delivery in December fell by 20 paise, of 0.17 per cent to Rs 114.75 per kg in a turnover of 1,103 lots. Marketmen said a firming trend in the entire base metals pack at the London Metal Exchange with optimism about the Federal Reserve plans to expand economic stimulus fading and the dollar strengthened.
Evidencing the meaningful implementation of its well-established National Emiratization Policy, Dubai Aluminium ("DUBAL") has successfully achieved its goal for the year by securing recruiting 120 UAE Nationals during 2012. This has been accomplished by pro-actively participating in career fairs and employer days held at various universities and colleges across the UAE throughout the course of the year; as well as the prestigious Careers UAE 2012 exhibition. Most recently, DUBAL was invited (along with other companies in the UAE) to participate in the 2012 UAE Student Forum arranged by the Embassy of the UAE in Washington DC mid-November; and responded by way of both sponsorship and a display stand. The three-day event drew more than 1,000 UAE National students who are currently...
The 3-month price of aluminum saw the biggest increase at 1.4 percent on the LME, finishing at $2,134 per metric ton for Dec. 12, 2012. Also on the LME, the primary aluminum cash price increased 1.4 percent to $2,130 per metric ton. The cash price of primary Indian aluminum finished the market day up 0.1 percent per kilogram. After remaining flat for three days, the price of Chinese aluminum billet fell 0.3 percent yesterday. Wednesday saw the Chinese aluminum cash price drift down 0.3 percent after a couple of stagnant days. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row. Also for the fifth consecutive day, the price of Chinese aluminum bar held flat.
Zeeland’s StrikoDynarad last week readied a 70-ton aluminum furnace for shipment. For some perspective, that’s 140,000 pounds — heavier than a U.S. Army M1 Abrams Tank and about the top weight of a North Atlantic right whale. StrikoDynarad specializes in devices that melt and handle molten aluminum. But this was a special project. “It’s the biggest we’ve built so far,” said Martain Reeves, managing director of StrikoDynarad. “We’ve been working on this project for over a year.” The build phase of the project — separate from its design — took a full six months, he said. The furnace is now shrink-wrapped, sitting on rails in Zeeland, and will be pulled by train to Mexico City for an undisclosed client in the manufacturing industry. Reeves said his shop will manufacture another furnace next...
Demand in the European physical aluminium market is still weak with little market activity reported. "It's very quiet and I haven't been talking to traders or suppliers," one European consumer said. He said he was completely covered for December and had now booked most of his requirements for next year. "There is not much change in our orders for next year, but volumes are slightly better," he said. The consumer said premiums were currently around $285/mt plus LME cash on a duty-paid basis and at $225/mt plus LME cash for duty-unpaid material. A second consumer said he had received some spot inquiries for January. "We have some inquiries for January, small quantities, the odd truck load, but nobody is looking to do much business," he said. He added that he had put in an inquiry to book...
The joint venture smelter project in Ras Al-Khair will help establish the Kingdom as the regional leader in the global aluminum industry, says Alcoa Chairman and CEO Klaus Kleinfeld. His remarks came as the Saudi Arabian Mining Company ( Maaden ) and Alcoa celebrated the achievement of the First Hot Metal milestone at the project. This milestone marks the successful commissioning of the first of 720 smelting furnaces or "pots," and is a key step toward the commercial production at the smelter. At the ceremony marking the event in Ras Al-Khair, Maaden President and CEO Khalid Al-Mudaifer said the achievement of First Hot Metal in only 25 months from the pouring of first concrete is testimony to the vision of the Saudi government and the dedication of Maaden , Alcoa and their respective...
China Aluminium production gained in the month of November. The total Aluminium production was 1.66 million tonnes, up 21%. Cumulative production of Aluminium was 18.15 million tonnes in January- November 2012, up 12.3% from last year. On LME, Aluminium that is majorly used in power and construction was trading at $ 2126 per tonne, up $ 22 per tonne. Most active Aluminium contract on MCX was down by 0.3% to Rs 114.5 per kg.
