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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India's state-run National Aluminium Co (NALCO) has sold 12,000 tonnes of aluminium ingots at $225 per tonne premium over the average LME cash price on a cost, insurance and freight (CIF) basis, company sources said on Friday. The metal will be shipped to the Hong Kong based buyer in six batches of 2,000 tonnes each from December to May next year. NALCO, whose tenders serve as a global benchmark, last sold 3,000 tonnes of aluminium ingots at $242 per tonne premium over the average LME cash price on a cost, insurance and freight (CIF) basis to a Singapore-based buyer last month.
Rio Tinto Alcan today released the draft Commonwealth Environmental Impact Statement for the South of Embley Project. Rio Tinto Alcan president and chief executive officer, Bauxite and Alumina, Pat Fiore said the project will extend bauxite mining operations on an area of the company's existing Weipa mining lease, thereby continuing to generate employment and economic benefits on the Western Cape for another 40 years. 'The EIS comprehensively describes the potential social, economic and environmental impacts associated with the project and outlines how we can sustainably develop our existing bauxite resources while safeguarding the Cape and the Great Barrier Reef,' Mr Fiore said. Mr Fiore said Rio Tinto Alcan has responded to a direction of the Commonwealth Environment Minister to assess...
China'S aluminum industry will produce around 10 million tonnes of new aluminium capacity despite global cost curve and is forced to import most of its raw materials for the industry. These remarks were made at the 16th Arabal Conference by AZ China Limited's Managing Director, Paul Adkins, in Doha, on Thursday. He was speaking at a panel discussion on the subject, 'What would the aluminum policy in China be for 2012- 2013.' "It's not safe to talk about averages when comparing 130 smelters with cost structures that vary by up to 33 percent. But as can be seen here, the median cash cost is around RMB15000 ($2400). But it is also clear that the range of costs is very wide, with almost 50 percent variation between the lowest and highest-cost plants," Paul said. He said government subsidies...
News had it last Friday that disagreement between the IMF and EU over Greece’s request for another round of bailout funds narrowed and that consensus was likely to be reached in the short term, helping the euro stage a strong rebound and driving the US dollar index down to near 80. Although LME aluminum inventories hit a fresh all-time high of 5.18 million mt during the European session, a weak US dollar attracted longs to buy aggressively at lower prices, causing positions to surge 15,609 lots. As a result, LME aluminum regained the 30-day moving average and jumped to a high of USD 1,986.8/mt. Finally, LME aluminum ended the day up USD 33.8/mt or 1.73% at USD 1,979.5/mt. Latest LME aluminum inventories surged by 18,000 mt to 5,177,425 mt. A weak US dollar will help aluminum prices...
The labour force of Zambia Aluminium Company (ZALCO) has hit the 1,000 mark, making it the biggest employer in Kabwe. The construction of ZALCO, now a cluster of firms under one roof, started in 2007 with an electro refinery plant worth US$2 million. “Now, we have got 19 plants plus two supporting workshops with a total investment of about US$55 million,” operations manager Hilal Bourgi said. And ZALCO administration manager Kapai Banda said the workforce is expected to increase when the paper and battery plants are inaugurated this month. “Our target was this month, we have been delayed by some logistical hiccups,” he said of the battery and paper plants currently doing test runs. Mr Banda said some of the materials such as chemicals needed to get the battery and paper plants running are...
Cabinet has approved the execution of a Memorandum of Understanding (MoU) aimed at providing a suitable energy solution for the Jamalco plant in Clarendon. The MoU is to be executed by the Ministry of Science, Technology, Energy and Mining, and involve the Government, Alcoa Minerals of Jamaica, and Clarendon Alumina Partners. Making the disclosure at today’s (November 21) Jamaica House press briefing at the Office of the Prime Minister, Minister with responsibility for Information, Senator the Hon. Sandrea Falconer, informed that the MoU was signed earlier this week. She pointed out that Jamalco has made significant contribution to Jamaica’s national development, advancing major industrial, economic and social benefits, especially to the parish of Clarendon. “Since 2004, however,...
Inventories of aluminium registered by the London Metal Exchange (LME) rose on Tuesday to an all-time record of 5.17 million tonnes in a market with a structural surplus. Stocks have surged since the 2008 financial crisis as banks spotted money making opportunities from financing deals that effectively locked material in warehouses and as top producer China kept churning out metal as it subsidised loss-making plants to save jobs. “Globally, excess capacity continues to plague the aluminium industry,” Wiktor Bielski, head of commodity research at VTB Capital, said in a note. Stocks of the metal used in packaging and transport increased by a net 65,200 tonnes to 5,172,500 tonnes LME data showed, surpassing a previous record of 5,125,800 tonnes touched on Feb.20. Most of the inflow on...
China's aluminum alloy imports in October rose 18.9% to 9,577 mt, from the 8,057 mt imported in the same month of 2011, the latest figures from the General Administration of Customs of China showed Friday. The figure, however, represented a decline of 27.2% from the 13,147 mt imported in September this year. Aluminum alloy exports in October totaled 34,468 mt, a drop of 46% from the 63,825 mt exported a year ago, and also down 11.4% from the 38,889 mt exported in the previous month. For the January-October period, China imported 102,166 mt of aluminum alloy, which was a rise of 15.3% from a year ago. The country also exported a total 430,367 mt of aluminum alloy during the first 10 months, which was a fall of 23.6% year on year.
The government of Indonesia plans to restructure the country's only aluminum smelting company PT Indonesia Asahan Aluminium, or Inalum, by putting ownership wholly in Indonesian hands, a company source said Thursday, confirming local media reports. Jakarta has a 41.12% share in Inalum, with the balance held by Nihon Asahan Aluminium, a consortium of Japanese investors. The joint venture is due to expire in October 2013. Platts reported in August that NAA was keen to renew the contract and maintain a share in the alliance, although Jakarta made clear it was considering other options. On Thursday, the Inalum source said the company's ownership change may unfold in phases. A yet-to-be-identified state entity was likely to initially acquire the Japanese share, before possibly divesting it, he...
Qatalum, an equal joint venture between Norway’s Hydro Aluminium and Qatar Petroleum, yesterday ruled out direct involvement in downstream industries but said its focus will be on capacity enhancement. “We are committed to supporting and offering all kind of assistance in establishing downstream industries. But we will not be directly involved,” Qatalum CEO Tom Petter Johansen told the 16th Arab International Aluminium (Arabal) conference. Assuring proactive support to downstream industries, Johansen said Qatalum produces high quality products that could be utilised by the downstream industry. He said the market for the downstream is there and the government of Qatar is encouraging the downstream industry in the country to utilise Qatalum products. “As we believe that there should be no...
HSBC flash China manufacturing PMI jumped to 50.4 in November, a 13-month high. However, investors remained wary of buying at higher prices. Thin trading was reported in LME market during the European session as the US stock markets were closed for the Thanksgiving Day. The decline of the US dollar index lent some support to commodities, despite the weak manufacturing PMI in the euro zone for November. LME aluminum hovered between the 20-day and 30-day moving average. Trading volumes contracted by half, preventing LME aluminum from breaking through USD 1,950/mt. Finally, LME aluminum ended the day up USD 9.3/mt or 0.48% at USD 1,945/mt. Latest LME aluminum inventories decreased by 7,075 mt to 5,159,425 mt. Aluminum prices will be trapped within a tight range. LME aluminum should meet...
Emirates Aluminium (EMAL) based in Al Taweelah, will host its second Recruitment Open Day on the 24th of November in Al Samha (next to the Adnoc petrol Station) as a part of its on-going dialogue with neighbours as a positive contributor and employer for the immediate area and economy of the UAE. EMAL representatives will be present to provide the local residents with updates on the progress of the landmark economic diversification project and to accept applications for over 200 vacancies at the smelter. The recruitment event for the local community living near the site is one of many EMAL initiatives to create more job opportunities while encouraging direct communication between the company and its neighbours. The event is a professional quest to recruit local talent and potential, in...
Germany posted a 1.5% decline in total raw aluminum production to 790,854 mt in January-September 2012, according to a report Tuesday by GDA, the federation of the aluminium producing and processing industry in Germany. Almost all areas of the aluminum industry were affected, the GDA said, and the association blamed the downturn on the "weak general economic situation and the high level of production in the previous year." While it is "cautiously optimistic" about the prospects for the German aluminium industry, the GDA saw no "fundamental improvement" in sight for the final quarter of 2012 but stressed that "the economic situation in Germany remains positive." Nine-month figures showed that production at German secondary aluminum smelters [aluminum made from scrap metal] had actually...
Primary aluminum output of China surpassed 26000kt/a in 2011. Output of in construction and planning to build is 20000kt/a. If eighty percent of these projects are completed in 2015, the primary aluminum output will reach 42000kt/a, which takes up sixty four percent of world’s total output. Refining primary aluminum cost large amount of energy. Average AC power consumption in 2011 was 14000Wh/t, which is the leading level in the world. However, it is not good for that remaining was pollution and the world can not accept so much aluminum. China is poor in quantity and quality of aluminum bauxite. Most of them can not be used for refining alumina. They need import aluminum in Korea and Taiwan regions. Meanwhile, some countries also need import some amount of aluminum, such as America,...
Saudi Arabia Mining Company Maaden has announced that it is to begin production at the aluuminium smelter which will form the first phase of a $10.8bn integrated aluminium production process next month. Maaden Aluminium Company - a venture which is 74.9% owned by Maaden and 25.1% by aluminium giat Alcoa - is in the midst of building a facility which has been described as "the largest and most efficient vertically-integrated aluminium complex in the world". It is being built over two sites, with a bauxite mine and ore crushing facility at Al Ba'itha in north eastern Saudi Arabia, while 600km away at Ras Al Khair on the Gulf coast it is building an alumina refinery, the smelter and a rolling mill. In a statement to the Saudi stock exchange, Maaden said that production would begin at the...
Alcoa Inc. (AA), the largest U.S. aluminum producer, may buy some assets used to make the metal from BHP (BHP) Billiton Ltd. and Rio Tinto Group as it expects demand to grow about 6.5 percent a year for the next decade. “We’re having a look if they’ve got assets that they want to divest,” Alcoa of Australia Ltd. Managing Director Alan Cransberg told reporters today after a presentation in Melbourne, without elaborating. Annual growth of 6.5 percent “is a beautiful number and most in the industry would be happy with that.” BHP and Rio have either sold or halted development of aluminum projects following a decline in the price of the lightweight metal and a shift in focus toward more profitable commodities. Melbourne-based BHP sold its 33.3 percent stake in an alumina project in Guinea for...
Norsk Hydro’s CEO Svein Richard Brandtzaeg, speaking in an opening address at the 16th Arabal Conference and Exhibition in Doha, Qatar, spoke of an aluminium industry with a big dilemma. Aluminium, he said, has experienced the highest growth but it lags behind on price because demand has fallen below production for quite a while. He talked about a ‘considerable’ global inventory of 12Mt owned by investors but said there were good reasons to be optimistic for the future. Quoting CRU, Brandtzaeg expects a 76% increase in demand for aluminium as the world edges towards 2020. He attributes such phenomenal growth to the properties of aluminium and its widespread usage in automotive, packaging, mobile communications and energy efficient buildings. Norsk Hydro, he said, was engaged in innovation...
Oleg Mukhamedshin, Deputy CEO of UC Rusal, the world's largest aluminium producers, spoke at the 16th Arab International Aluminium Conference (Arabal) highlighting some of the key issues and opportunities in the global aluminium industry. Despite a steady increase in global aluminium consumption, low aluminium prices on the LME continue to hit the industry, exposing risks and imbalances. According to Rusal's estimates, based on actual cash costs, between 20 and 30% of aluminium ex-China capacity is currently unprofitable, depending on the premium level. In China, this situation appears magnified, with almost one third of capacity under water at today's price levels. In this context, the Middle East's recent growth to become a major aluminium producer is significant, offering...
