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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Norwegian aluminum producer Norsk Hydro is forecasting global aluminum demand to grow 2-4% in 2013, excluding China, after the 2% expansion verified in 2012, mostly due to international market recovery and the current process of capacity cuts and inventories reduction. Big players in the industry have cut production after aluminum prices declined below US$2,000/t in the northern hemisphere early this summer. Prices rebounded to US$2,200/t before some companies decided to resume production, which caused prices to retreat back to the US$2,000/t mark. "While aluminum has had one of the fastest growing demands among metals, we also see a large increase in production capacity, resulting in lower prices and inappropriate returns," Norsk CEO Svein Richard Brandtzaeg said at Capital Markets Day...
Bhoruka Aluminium Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 29, 2012, inter alia, has approved the following:1. Approved the Postal ballot notice and process to seek approval of the members of the Company under Section 293(1)(a) of the Companies Act, 1956 to sell, transfer or dispose off the whole or substantially whole of the undertaking of the Company.2. Appointed Mr. Sunil Kumar B.G., Practising Company Secretary, as Scrutinizer for conducting postal ballot process in fairand transparent manner.
A building at Hydro Aluminum caught fire around 1 p.m. after molten aluminum spilled from a piece of equipment, said St. Johns County Fire Rescue spokesman Matthew Sara. The fire started around 12:44 p.m. in a “re-melt” building at the plant on 200 Rivera Blvd. off U.S. 1 South. When Fire Rescue crews got to the scene, heavy smoke and fire were coming from the building. By then, all of the employees had been evacuated from the building, Sara said. Smoke could be seen several miles from the plant. Crews attacked the fire with foam because of the molten aluminum, and the fire was extinguished within 30 minutes. No injuries were reported. The cause of the fire is under investigation, but officials believe a piece of machinery that was being filled with molten aluminum overflowed and caught...
With a 1.7 percent increase over the past day, the cash price of primary Indian aluminum was the biggest mover on Nov. 29, 2012. The 3-month price of aluminum declined 0.9 percent on the LME, after two days of improvement." The cash price of primary aluminum's prices-following a couple days of improvement-fell by 0.5 percent on the LME. Chinese aluminum prices were flat for the day. The Chinese aluminum cash price held steady. For the fifth consecutive day, the price of Chinese aluminum scrap held flat. The price of Chinese aluminum billet remained essentially flat and the price of Chinese aluminum bar held steady .
LME aluminum continued to drift higher last Friday, buoyed by positive economic data in Europe and the US. LME aluminum briefly dipped to an intraday low of USD 2,057/mt after opening at USD 2,060/mt, but later broke resistance at the 60-day moving average all the way to near USD 2,100/mt. Finally, LME aluminum closed USD 28/mt or 1.36% higher at USD 2,088/mt. Trading volumes were down 1,552 lots to 19,249 lots, while positions were up 4,689 lots to 690,125 lots. Latest LME aluminum inventories surged 17,700 mt to 5,207,225 mt. China’s manufacturing PMI rose to a seven-month high in November and the US employment data was in line with forecasts. Meanwhile, great progress has been made over the Greek debt crisis. As such, LME aluminum should continue to edge up and move between USD...
On 28th, November, 2012, 2012 China 500 Private Enterprises activity organized by China Private Enterprise Federation, China Statistics Association, and Research Center of China Academy of Management Science was open to publicity. Jiangsu Shagang Group, Huawei Tech Co., Ltd., and Suning was listed the top three depending on 207.528 billion Yuan, 203.929 Billion Yuan and 194.734 Billion Yuan. There were nine enterprises on the list names, which were black metals and non-ferrous metals. Xichuan Aluminum Group and Linzhou Linfeng Aluminum & Power was list as 225 and 485 position. Total income was 9.306857 trillion Yuan, which increased by 33.27 percent; total assets were 7.768657 trillion Yuan, which increased by 32.07 percent; total tax was 407.987 billion Yuan which increased by 49.17...
The state-run National Aluminium Co Ltd (NALCO) has raised aluminium prices by 4,500 rupees per tonne for all products in the domestic market, effective December 1, company sources said on Sunday. The basic price of standard aluminium ingots after the latest increase is 143,700 rupees per tonne, said sources who declined to be identified, in line with company policy. NALCO, which is India's third-largest producer of aluminium, revises product prices from time to time to mirror London Metal Exchange prices. It last raised aluminium prices across all products by 2,500 rupees in November.
New Zealand Aluminium Smelters has confirmed it has completed its plan to reduce the size of its organization by 100 roles but it is still losing money and further cuts are expected. A spokesman for Pacific Aluminium said the Rio Tinto divestment process was continuing but NZAS would like a long-term future at the Tiwai Point aluminium smelter near Bluff, in Southland. ''We have put in place a number of initiatives we hope will secure that future. However, we are still losing money. At the end of the day, a business cannot keep losing money." In addition to stopping planned capital expenditure, ongoing programmes to reduce costs would include a review of maintenance services, he said. A statement from NZAS said further cost-saving initiatives would be pursued next year. In addition to...
Alcoa announced today that Janne Sigurdsson, Managing Director of Alcoa Iceland, has been named the gold Stevie Award winner for Female Executive of the Year in Europe, the Middle East and Africa at the 9th annual awards ceremony held recently in New York. The Stevie Awards for Women in Business honor women executives, entrepreneurs, and the companies they run. Sigurdsson was recognized for her achievements in helping to build, strengthen and expand Alcoa's new and technically advanced Fjardaál aluminum smelter. "During her six years at the facility, Janne has led significant business transformation initiatives, helped to create a culture of safety, and achieved high employee engagement by encouraging volunteerism and by actively participating in enhancing the East Iceland community,"...
Global miner Rio Tinto said it expects the sale of assets it no longer wants, such as its Pacific Aluminium and diamonds businesses, to generate strong proceeds over the next year or more. It has already generated $12 billion (£7.5 billion) from the sale of more than 20 assets since 2008 and said on Thursday it planned to divest more assets and expects "substantial cash proceeds over the next 12+ months." The comments were in slides prepared for an investor seminar in Sydney.
Weaker-than-expected exports, including lower shipments of aluminium and falling exports of dairy and meat, pushed New Zealand's October trade deficit much higher than forecast. The October deficit was $718 million, compared with expectations of a deficit of about $450 million. New Zealand Aluminium Smelters, which operates the Tiwai Pt aluminium plant at Bluff, last month halted $70 million of planned capital spending, citing "extremely challenging" market conditions that have eroded margins. The change affected $15 million planned for the remainder of 2012 and 2013 and follows a review of all capital and maintenance spending at the site, the company said in a statement. NZAS is in talks with Meridian Energy over electricity prices for the aluminium smelter as the operation that takes...
The US production of Aluminium declined to 202000 tonnes in the third quarter ending September 2012. The production of Aluminium was marginally lower compared to 216000 tonnes in second quarter this year. United States Geological Survey (USGS) said that the total Aluminium production was down by 22000 tonnes to 631000 tonnes between first and third quarter of 2012. The production was down from 653000 tonnes in between January-September 2011. LME Aluminium three month forward was trading at $ 2002 per tonne, compared to $ 2015 per tonne on 27 November 2012. Indian metal futures will remain open for the evening session only due to Gurunanak Jayanti. MCX Aluminium settled at Rs 111.1 per kg, up 0.22%.
Saudi Arabian Mining Co (Maaden) has announced the kingdom's first aluminium smelter is to reach full production later than planned, due to long delays to a power plant it needs to run flat out, Reuters has reported. Maaden said operations at the $10.8bn aluminium smelter it shares with US-based Alcoa are expected to commence in December and that it has secured some of the huge amounts of electricity it will need. However, it will not be able to ramp up to 740,000 tonnes per year of smelting capacity because the 2,400-megawatt (MW) power plant due online in October will not be ready until late 2013, it said. "The (power) project halt may cause shortage in the supply of electricity required by the Maaden Aluminium Co (MAC) at Ras Al Khair," the company said.
Global resources major Rio Tinto Alcan has offered a premium of $240/mt plus London Metal Exchange cash CIF Japan for shipments of primary aluminum to Japan in the first quarter of 2013, local market sources said Tuesday. The premium is for supplies of primary aluminum shipped from the Rio Tinto Alcan smelters in Australia, New Zealand and North America to Japan, on a contract basis. The producer proposed in a letter emailed to Japanese customers late Monday to center Q1 premium discussions at $240/mt plus LME cash CIF Japan. The premiums for the current quarter stand at $254-255/mt plus LME cash CIF Japan. Rio Tinto Alcan's Tokyo office was not immediately available for comment. Two other global producers are expected to make their premium offer to Japanese buyers later this week,...
Hydro is focusing its Capital Markets Day 2012 on the improvement efforts being made throughout the company, aiming to create a global leader in aluminium. Hydro is expecting world aluminium demand outside China of 2-4% in 2013 and solid global long-term growth of4-6% annually over the next 10 years. In its value proposition, Hydro's targets are to: * Deliver on ambitious improvement efforts along the value chain to improve relative industry position * Capitalize on raw material positions through internal improvements and commercialization of bauxite and alumina markets * Maintain financial strength and flexibility to mitigate weak and volatile Markets * Ensure competitive shareholder return with the ambition to maintain absolute dividend level for 2012 "Hydro has delivered significant...
Emirates Aluminium (Emal), a key player in the UAE aluminium industry, will host the 17th International Arab Aluminium (Arabal) Conference and Exhibition 2013 in Abu Dhabi. The announcement was made by the Arabal Forum – a committee of representatives from the primary aluminium producers in the Gulf that is tasked with organizing the Arabal events – at the recently concluded Arabal 2012 in Doha. Both Emal and Dubai Aluminium (Dubal), yet another major smelter in the UAE, participated in Arabal 2012. The strength of the two UAE Smelters – whose total sales volume in 2011 amounted to 1,780,545 metric tonnes, about 50 per cent of the regional total – was communicated through a combined display stand in the exhibition held alongside Arabal 2012. Dubal’s Abdalla Al Zarouni, senior manager,...
Aluminium Bahrain B.S.C (Alba)'s pledge to continue strengthening its credentials as an environmentally friendly and energy efficient aluminium producer was bolstered with the recent upgrade of Pot Line5 from AP30 to AP36 technology. The upgrade was made possible with the successful installation of the first 1600 mm long anode in Pot Line 5 - a significant breakthrough that's geared to place Alba amongst the leaders in pot line current and productivity through effective deployment of advanced AP3X smelting technology. Alba's production process will receive further boost with additional modifications from the reduction side on anode reference gauges, PTA shovel size, simulations on start-up pots, studies on wench motors, etc. Commenting on the upgrade from AP30 to AP36 technology on Pot...
Global miner Rio Tinto said its coal and aluminium operations would bear the brunt of $5 billion in targeted cost cuts over the next two years. Rio, in an investor update, said it was aiming to cut more than $5 billion of operating and support costs by the end of 2014, and would cut spending on exploration and evaluation projects by $1 billion over the rest of 2012 and 2013. The company is focusing on its lucrative iron ore operations in Western Australia, where it now expects to ramp up production to 360 million tonnes per year by 2015, up from a previously estimated 353 million tonnes/year.
