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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The London Metal Exchange, the world’s biggest metals marketplace, said there is no “reported shortage” of aluminum after buyers complained about inflated costs and backlogs at the bourse’s storage network. Consumers can buy the metal used in cars and beverage cans directly from producers as they always have done, the LME said in a statement e-mailed today, in response to a U.S. Senate subcommittee hearing today on whether banks should own warehouses or oil refineries. The total price of aluminum has fallen 40 percent since July 2008, the LME said. The exchange is legally restricted from limiting rents and can’t prevent trading companies from owning warehouses, it said. Global aluminum costs were inflated by $3 billion in the past year through LME rules that allow Goldman Sachs Group Inc....
Aluminium futures today fell by 0.74% to INR 106.60 per kg largely in tandem with a weakening trend in base metals overseas after China's manufacturing activity weakened further in July amid low demand at domestic spot markets. At the Multi Commodity Exchange, aluminium prices for delivery in July traded 80 paise, or 0.74%, lower at INR 106.60 per kg in a business turnover of 386 lots. Similarly, the metal prices for delivery in August traded 70 paise, or 0.64% down at INR 108.35 per kg in two lots. Globally, aluminium dropped 0.8% to $1,830.75 per tonne. Market analysts said apart from subdued spot demand, weakness in base metals at the London Metal Exchange on demand concerns after China's manufacturing weakened further in July, mainly hit aluminium prices at futures trade.
The future of the gas to Gove pipeline may once again be in doubt as nobody wants to pay for its construction. The NT Government gave up a decade's worth of cheap public gas to mining giant Rio Tinto in February after the company threatened to shut the Gove alumina refinery and sack 800 people. But Rio subsidiary Pacific Aluminium does not just need the cheap energy, it needs a pipeline to get it there. Cost estimates vary from $500 million to $900 million. In February, industry analysts said taxpayers would be asked to pay as the refinery was running at a loss. At the time Pacific Aluminium chief executive Sandeep Biswas denied this would be the case. "The private sector will fully fund gas to Gove," he said. Australia's biggest pipeline company APA Group is now in talks with Pacific...
Some of the world's biggest commodities traders - including market giants Goldman Sachs and Glencore Xstrata - have been ordered by a US regulator to preserve of all internal documents and emails relating to the storage of aluminium ahead of a potential investigation. The New York Times reported that the US Commodity Futures Trading Commission is looking into how aluminium is shipped and stored by subsidiaries owned by the same banks that also trade in the metal. Fears have been raised that storage rents were artificially pushing up the spot price of aluminium. An NYT investigation claimed that a Goldman Sachs subsidiary shuffled aluminium stocks around its warehouses each day, lengthening storage times and bloating rental costs, which pushed up the metal's market price and produced...
Brazil‘s primary aluminum output in the first half of 2013 reached 666,000t, down 8.4% from 727,300t year-on-year, national aluminum association Abal said. According to the latest data available in Abal’s website, primary aluminum exports in the January-May period of 2013 totaled 207,400t, down 1.5% from 210,500t in the same period. Finished aluminum exports in the first five months of the year reached 39,800t, a 16.2% decrease from 47,500t exported in the same period of 2012. Imports of primary aluminum products in January to May totaled 32,900t, down 31.5% from 48,000t in the same period. Finished aluminum imports in the period reached 70,800t, up 6.5% from 66,500t imported in the first five months of 2012. Companies associated with Abal are CBA, part of local conglomerate Votorantim,...
Some Chinese aluminium producers are reopening closed capacities after recent price rebounds narrowed their losses, Shanghai Metals Market (SMM) has learned. Guangxi Baise Yinhai Aluminium Co. restarted a 100,000-tpy plant in late June and is now running at a total capacity of 200,000 tpy. Guangxi Laibin Yinhai Aluminum Co. is scheduled to restart a halted 180,000-tpy plant in August, by which time its total working capacity would add up to 240,000 tpy. It was reported in June that a total of 1.33 million tpy aluminium-making capacities in China were shut or were planned to be. Actual cuts were limited, though, to only 400,000 tpy, and were mainly concentrated in Henan province, SMM learned. Aluminium Corp. of China (Chalco) was said to be planning to reduce capacities of 300,000 tpy at...
The European Commission Tuesday approved the acquisition of joint control over Dubai Aluminium (DUBAL) by DUBAL Holding and Industry Holding Company (MDCI), all of the United Arab Emirates. DUBAL is currently solely controlled by DUBAL Holding. It produces and sells aluminum products. MDCI and DUBAL Holding are global investment companies. The EU's executive body in a statement concluded that "the proposed acquisition would not raise competition concerns given the very limited overlap between the parties' activities and the presence of other competitors.
Noranda Aluminum Holding Corp. was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, Analyst Ratings Network reports. They currently have a $3.20 price objective on the stock. Zacks‘ target price would suggest a potential downside of 5.88% from the stock’s previous close. Shares of Noranda Aluminum Holding Corp. traded up 0.88% during mid-day trading on Friday, hitting $3.43. Noranda Aluminum Holding Corp. has a one year low of $3.16 and a one year high of $7.85. The stock’s 50-day moving average is currently $3.62. The company has a market cap of $232.9 million and a P/E ratio of 6.92. Noranda Aluminum Holding Corp.last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.02) earnings...
On Friday, July 19, the day’s biggest mover was the cash price of primary Indian aluminum, which saw a 1.3 percent increase. On the LME, the primary aluminum cash price declined 1.1 percent to $1,753 per metric ton. On the LME, the aluminum 3-month price fell 1.1 percent to $1,797 per metric ton. Chinese aluminum closed mixed last Friday. The cash price of Chinese aluminum increased 0.2 percent. Chinese aluminum scrap held its value last Friday. The price of Chinese aluminum billet held steady, and Chinese aluminum bar saw little movement.
Global primary aluminum output averaged 68,100 mt/day in June, flat from 68,100 mt/day in May but higher than 67,700 mt/day in June 2012, figures released Monday by the International Aluminium Institute showed. Total production in June (30 days) was 2.042 million mt, down from 2.112 million mt in May (31 days) but higher than 2.030 million mt in June 2012. Production for January-June 2013 was 12.355 million mt at an average of 68,300 mt/day, compared with 12.439 million mt in the first six months of last year.
MillerCoors LLC has urged U.S. lawmakers and regulators to press for greater regulatory oversight of the London Metal Exchange, the world’s largest metal market, after years of inflated aluminium prices that have cost the industry billions of dollars. “We simply ask for the same regulatory and legislative oversight of the LME that other U.S. futures exchanges receive,” Tim Weiner, global risk manager for the brewer, said in a submission sent to the U.S. Senate banking committee on Monday. That would level the playing field and ensure transparency for both buyers and sellers of metal, he said in the statement which he will present on Tuesday at a hearing on Wall Street banks’ ownership of physical commodity assets. His comments come as regulatory scrutiny of banks’ ownership of physical...
If Century Aluminum's pending application with Kentucky regulators to access cheaper wholesale power is not approved by August 20, the company's 244,000 mt/year Hawesville smelter will close and probably never reopen, the company said in a new filing Friday with the Kentucky Public Service Commission. On August 20 a longstanding power purchase agreement between Chicago-based Century and Big Rivers Electric is scheduled to expire. Big Rivers, a generation and transmission co-op in Henderson, Kentucky, has supplied about 550 MW to Hawesville for years. In June, Big Rivers submitted an application to the PSC to allow Century to bypass the co-op and buy electricity directly from the market. In the Friday filing, Sean Byrne, plant manager at Hawesville, said the smelter's current average power...
South America‘s primary aluminum production in the second quarter of this year fell 5.86% year-on-year to 482,000t from 512,000t, the International Aluminium Institute (IAI) reported. Output in June was 155,000t, down 7.19% year-on-year and 6.07% month-on-month. Global primary aluminum production totaled 11.67Mt in Q2, almost flat year-on-year. Output in June was 3.9Mt, up 3.2% over the same month in 2012. IAI’s figures for South America include Argentina, Brazil, Suriname and Venezuela, the region‘s only producers of primary aluminum. The list considers Mexico’s primary aluminum data as part of South America‘s production figures.
China's production of aluminium cranked up several gears last month to an annualized 22.42 million tonnes. It was the second-highest run-rate ever, eclipsed only by what may have been a holiday-distorted output figure in February. The world's largest producer churned out 10.54 million tonnes of the light metal in the first half of this year, according to figures from China's Nonferrous Metals Industry Association published by the International Aluminium Institute (IAI). That represented year-on-year growth of almost 11 percent, pretty much matching last year's pace. Annualized production jumped by 1.63 million tonnes in June alone. Although China's monthly production figures can be volatile, there is no denying the direction of the trend. And this from a country where, to quote from U.S....
The European Union will help energy-hungry industries, such as aluminium smelters, clinch long-term electricity deals to lure back major employers that have quit the bloc partly because its power is so expensive. The offer of free guidance by the European Commission (EC) is part of a re-industrialisation drive now climbing up the political agenda after many plants closed in recent years with thousands of job losses that often hit poor areas hardest. Up to 40 percent of the cost of producing aluminium comes from electricity prices, which in the EU are twice those of the United States and substantially higher than in most developing economies, making it hard for Europe's smelters to make profits. Although long-term power contracts which might help offset these price disadvantages are not...
Total world aluminum production in June fell by 70,000 metric tons to 2.042 million tons, according to figures released Monday by the International Aluminum Institute. World production in May stood at 2.112 million tons. June production was up 12,000 tons compared with the same month of 2012, when output was recorded at 2.030 million tons, the IAI said. The IAI details production as follows, in thousands of tons: June '13May '13June '12 Africa150153128 North America413428397 South America155165167 Asia197208206 West Europe291298297 E/Central Europe 335349355 Oceania175176183 GAC/Gulf Region326335297 Total2,0422,1122,030
Hydro’s underlying gain before financial equipment and taxation was NOK 518 million in a second quarter, down from NOK 1,077 million in a initial entertain of 2013, as revoke aluminium and alumina prices and seasonally revoke appetite prolongation weighed on results. Bauxite and alumina prolongation was influenced by appetite outages. • Underlying EBIT NOK 518 million • Lower alumina and aluminium prices • Lower outcome in Energy, especially from seasonally revoke production • Production in Bauxite Alumina influenced by appetite outages • Increased volumes lift outcome in Rolled Products • Aluminium direct expansion opinion 2-4% outward China “Although a tellurian macroeconomic conditions stays challenging, aluminium direct is approaching to continue to uncover plain expansion this year....
This weekend the New York Times published a big story on Metro International Trade Services, a Detroit based aluminium storage company owned by Goldman Sachs. The NYT reported that Goldman shuffles the commodity around between storage units to skirt regulations meant to keep the commodity moving through the market and increase demand (and thus price) for the product. The paper calculated that this could have cost American consumers $5 billion over the last few years. Goldman denies any wrongdoing. And in fact, a source close to the situation told Business Insider that, as a rule, Goldman doesn’t control the flow from its warehouses, the aluminium is owned by customers and they decide when it moves. Then there’s the aluminium that isn’t governed by the London Mercantile Exchange, Metro’s...
