Precimeter just unveiled LynCor at ALUMINIUM 2026. This is our new hardware and software platform for automated molten metal level control. Along with the platform we unveiled the first product in the series, LynCor ProH laser camera sensor. Together the platform and the laser camera sensor marks the next step in our development of more connected, reliable and efficient casthouse automation. Laser camera sensors have been at the core of our business since 1995. Over three decades, we have seen how heat, slag, metal splashes and limited process visibility challenge casting operations. When maintenance interrupts production or a process issue leaves no recorded evidence, the consequences extend beyond the sensor itself. LynCor brings measurement, connectivity and diagnostics together to...
LME aluminium prices moved higher on October 6 compared with the previous trading day, with cash and three-month prices rising by nearly 1 per cent. The increase came as LME aluminium opening stocks remained unchanged, while live warrants declined and cancelled warrants increased. On October 6, the LME aluminium cash bid price stood at USD 3,134 per tonne, up 0.90 per cent from USD 3,106 per tonne on October 5. The cash offer price stood at USD 3,134.5 per tonne , compared with USD 3,107 per tonne on October 5, marking a 0.89 per cent increase. The LME aluminium three-month bid price rose to USD 3,148 per tonne on October 6 from USD 3,117.5 per tonne on October 5, an increase of 0.98 per cent. The corresponding three-month offer price increased to USD 3,148.5 per tonne from USD 3,118 per...
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Chinese government called off a combined heat and power (CHP) generation project by Baotou Aluminium Co. before it obtained an environmental impact statement. Baotou Aluminium ``arbitrarily’’ started constructing a CHP project in Baotou city of Inner Mongolia from May, 2013 without obtaining an updated environmental impact statement, the Ministry of Environmental Protection said in a statement on its website earlier this month. The ministry called it off and ordered the company to submit a correction report by August 16, 2013, it said. Baotou Aluminium is a subsidiary of Aluminium Corp. of China (Chalco).
The Deputy Chief Minister Dave Tollner will visit Gove today to update locals on progress with plans to get gas to the town. “We are taking this issue very seriously. We want to assure the people of Gove that we are working hard to find a long term solution to the town’s energy needs that is affordable for Territory taxpayers. We believe a viable proposal is now on the table,” Mr Tollner said. “Northern Territory taxpayers would have been exposed to a massive $3.2 billion gas pricing risk and the possibility of long term energy shortages if we had gone ahead with Pacific Aluminium’s original 300PJ request. "Accepting this request would have been fiscally irresponsible, adding to the $5.5 billion debt we inherited from Delia Lawrie and posing a threat to our credit rating. “The original...
Brewer Miller Coors last week told the US Senate that inflated aluminium prices were costing consumers $3bn a year, putting the focus on the stockpiles held by the Wall Street investment bank and the world’s largest commodity trading firm. Together, the two firms are estimated to control two-thirds of the world’s stockpiles of aluminium, with Goldman Sachs holding 1.5m tons, while Glencore has 2m tons in its warehouses. Aluminium prices have more than doubled in the past three years. At the same time, the amount stored in warehouses has hit a record 5.5m tons. The majority of the metal held in each of the firms’ warehouses is owned by their clients, which include hedge funds. But regulators have begun a crackdown on trading by big banks in commodity markets. The move has been given added...
Noranda Aluminum Holding Corp. declared a quarterly dividend on Wednesday, July 24th, Stock Ratings Network reports. Investors of record on Monday, August 5th will be given a dividend of $0.04 per share on Wednesday, August 28th. This represents a $0.16 dividend on an annualized basis and a yield of 4.97%. Several analysts have recently commented on the stock. Analysts at UBS AG downgraded shares of Noranda Aluminum Holding Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $3.50 price target on the stock, down previously from $4.25. On the ratings front, analysts at Zacks downgraded shares of Noranda Aluminum Holding Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, July 19th....
Following the smooth and efficient commissioning of two new CVC plus six-high cold rolling mills, Chinese aluminum producer Luoyang Wanji Processing Company issued the Final Acceptance Certificate (FAC) for both mills to SMS Siemag, Germany. On cold rolling mill No. 1, the first strip had already been rolled in 2012. The FAC was granted before the end of the year, marking the successful completion of the hot commissioning phase, with the rolling mill becoming an integral part of production operations. This success was repeated on March 30, 2013, when also for cold rolling mill No. 2 the FAC was granted. Luoyang Wanji’s new production facilities in the province of Henan in East China now boast installed production capacities totaling 260,000 tons per year. The commissioning of these plants...
The German aluminum producer Trimet has agreed to acquire two of Rio Tinto’s aluminum plants in France. The plants had become high-cost producers, and Rio Tinto had been seeking to sell the facilities as a way to reduce its overall costs. The two facilities are located in Saint-Jean-de-Maurienne and Castelsarrasin. For Trimet, the acquisitions allows the company to extend its portfolio of specialized light metal products. The deal with Rio Tinto is conditional upon the approval of the regulatory authorities and the execution of an energy supply agreement and a partnership arrangement with Electricite de France (EDF). The production plants were set up by the French aluminum manufacturer Pechiney, which had been taken over by Rio Tinto Alcan. The aluminum plants produce aluminum wire rod...
The premium aluminum buyers are expected to pay for supplies in the U.S. fell for a second week as lawmakers stepped up scrutiny of bank involvement in warehousing, according to Harbor Intelligence. The premium slipped to 11.5 cents to 12 cents a pound this week, from 11.8 cents to 12 cents a pound last week, Jorge Vazquez, managing director of the Austin, Texas-based researcher, said in a report. The fee, which is added to the price of metal for immediate delivery, reached a record 12 cents to 13 cents in June. A Senate panel held a hearing this week to examine banks’ ownership of warehouses and other commodity assets after consumers complained of long waits and rising costs. The inquiry came three weeks after the London Metal Exchange proposed measures to help unclog growing queues at...
Shipments of rolled-aluminum products by Japanese fabricators to domestic and overseas markets decreased 8.6 percent in June, the eighth month of decline, an industry group said today. Volume declined to 161,854 metric tons last month from 177,050 tons a year earlier, the Japan Aluminium Association said in a report.
Alcoa Inc., the largest U.S. aluminum producer, is urging the London Metal Exchange to provide more transparency into its marketplace for the lightweight metal. The current system isn’t sustainable, Klaus Kleinfeld, Alcoa’s chairman and chief executive officer, said in an interview. At stake, he said, is the London exchange’s relevance as the price-setter to producers and users of aluminum, the metal used in products from beer cans to aircraft. “The outcome of price determination that is not transparent is eventual lack of trust,” Kleinfeld said by phone yesterday. “People will look for alternatives.” Alcoa joins United Co. Rusal, the world’s largest aluminum producer, and Norsk Hydro ASA (NHY), Europe’s third-largest producer, in calling on the LME to reveal more about who holds metal...
Aluminium futures today fell by 0.57% to Rs 104.90 per kg, largely in tandem with a weakening trend in base metals overseas and subdued demand at domestic markets. At the Multi Commodity Exchange, aluminium prices for delivery in July traded 60 paise, or 0.57%, lower at Rs 104.90 per kg in a business turnover of 205 lots. The metal prices for delivery in August traded 50 paise, or 0.47% down at Rs 106.85 per kg in two lots. Market analysts said apart from subdued spot demand, weakness in base metals in the global market after China's manufacturing weakened further in July, mainly led to a fall in aluminium prices at futures trade.
China has ordered metal smelters to close outdated capacity by the end of September and dismantle it by the end of this year, the Ministry of Industry and Information Technology said in a statement on Thursday. The top global producer and consumer of metals has set yearly plans to close outdated capacity since 2009 as part of efforts to cut energy consumption and emissions. This year, the closing deadline is earlier, compared with the year-end in previous years. The ministry ordered the closure of 654,400 tonnes of outdated copper capacity by the end of September, the statement said. A total of 260,000 tonnes of outdated aluminium capacity is also required to be closed, the ministry said on its website(www.miit.gov.cn). The ministry ordered 807,000 tonnes of lead capacity and 146,200...
China exported 76,779 mt of anhydrous aluminum fluoride in H1, 2013, up 35% YoY. Artificial cryolite exports, however, fell 3% YoY to 9,953 mt. Fluoride salt exports totaled 86,732 mt, an increase of 29% YoY, according to China Customs. The export price of anhydrous aluminum fluoride averaged USD 1,233/mt in H1, down 19% YoY. The average export price of artificial cryolite, in contrast, rose 4% YoY to USD 916/mt. Anhydrous aluminum fluoride is mainly used by aluminum smelters. Aluminum producers bought less anhydrous aluminum fluoride against depressed aluminum prices and lackluster downstream demand, forcing domestic anhydrous aluminum fluoride producers to ramp up exports. Artificial cryolite is used in not only aluminum industry, but also glass and chemical sectors. Given the limited...
According to the Government's privatisation timetable, the sale of 49 per cent of Meridian Energy will occur some time in the next 10 weeks. However, for that to happen, there must first be a resolution of Meridian's big problem with its biggest customer, the Tiwai Point aluminium smelter, owned by Rio Tinto subsidiary Pacific Aluminium. Meridian chief executive Mark Binns has talked a good game on this one, claiming defensibly, if rather bravely, that losing the smelter as a customer would help the largest hydro-electricity generator in the country because it could sell its juice more profitably elsewhere. With PacAl required to give somewhere between five and six years' notice of its intention to wind down and close the smelter, Binns reckons there would be time for a grand shakeout...
Figures released by the Strategic Resource Institute show that Rio Tinto Alcan has increased production of bauxite, alumina and aluminium for Q2 2013 when compared to the same period last year. Bauxite production was up by 21%, alumina production up by 15% and aluminium production also up by 15%. The global mining giant expects its share of bauxite, alumina and aluminium production in 2013 to be 34Mt, 7.3Mt and 2.5Mt respectively. In terms of its H1 2013 performance, the company has recorded a 16% increase in bauxite when compared with H1 2012, a 7% increase in alumina and a 14% increase in aluminium. Pacific Aluminium figures, on the other hand, paint a gloomy picture with bauxite production in Q2 2013 down 4% on the same period in 2012, alumina production down 30% and aluminium...
Tim Weiner, MillerCoor's global risk manager has drawn attention to the LME warehousing situation and its effect on aluminium pricing and delivery. Mr Weiner highlighted what he called the development of an 'economic anomaly' in the global metals market that has resulted in higher prices despite a glut in supplies. Speaking in a statement to the US Senate banking committee, Weiner said that a lack of regulation in the USA and the UK were to blame for the problem and added that US banks have 'effective control of the LME'. It is thought that Weiner's outspoken comments on the subject will prompt some kind of action on what has become a controversial issue for the aluminium industry. A hearing is scheduled for next week in which senators will discuss bank ownership of metals warehouses and...
Roy Harvey has been appointed chief operating officer for Alcoa's Global Primary Products (GPP) and will focus on the day-to-day operations at the aluminium giant's 22 aluminum smelters and nine alumina refineries worldwide. Harvey, a member of Alcoa's Executive Council, will also oversee the company's bauxite assets in Australia, Brazil, Jamaica, Surinam, Guinea and Saudi Arabia. He was previously chief financial officer, a role now taken up by Leigh Ann Fisher, previously group controller for GPP. In her new role, Fisher will become a member of the Executive Council. Klaus Kleinfeld, Alcoa's chairman and chief executive officer, praised Harvey's 'impressive international track record' and his acute financial expertise and operational insight. He said that Leigh Ann’s solid foundation in...
China will raise production requirements and controls to rein in further expansion in its bloated aluminium sector, the Ministry of Industry and Information Technology said on Wednesday, as the government gets serious about tackling a string of industries that are facing overcapacity problems. The ministry would publish a list of firms that meet the new requirements and the firms would receive help such as credit from the government, according to a statement on the ministry website (www.miit.gov.cn). Higher requirements could mean some existing aluminium smelters shut their capacity for upgrading before end-2015, restricting production of primary aluminium in the world's top producer of the metal. The stricter controls were aimed at tackling overcapacity and pushing company mergers and...
State-owned power company Meridian Energy says talks are "ongoing" on renegotiating a power contract with the Tiwai Point aluminium smelter. Media reports today suggested that a new deal was all but signed. That would help clear the way for the Government's partial privatisation of Meridian this year. But Meridian said power contract talks continued, about a year after they started. "They are ongoing but we are unable to say anything else until there is some resolution," a Meridian spokeswoman said. The talks remained confidential, and the spokeswoman would not even say whether discussions were being held in Wellington. The "robust" negotiations had not continued constantly for the past year. "It is a big contract and a very complicated one," she said. There was no prospect of a press...
