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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Greece failed to secure another round of bailout funds, aggravating worries over the European debt crisis and driving commodities down. The US economic data came in mild. The University of Michigan’s consumer sentiment for November was lower than estimates and preliminary reading, causing market risk aversion to grow. However, the retreat of the US dollar index from 81 failed to help LME aluminum rally. LME aluminum tumbled to a low of USD 1,929/mt and lost support at near the 30-day moving average as longs closed positions for a second straight trading day. Finally, LME aluminum ended the day down USD 20/mt or 1.02% at USD 1,936.5/mt. Latest LME aluminum inventories decreased by 6,000 mt to 5,166,500 mt. Trading activity will be thin today as the US stock markets are closed for...
The aluminum 3-month price saw a 0.6 percent drop on the LME on Nov. 19, 2012, landing at $1,942 per metric ton and making it the biggest mover of the day on MetalMiner’s aluminum price index. The primary aluminum cash price weakened by 0.5 percent on the LME, settling at $1,921 per metric ton. The cash price of primary Indian aluminum rose 0.3 percent after a two-day drop. Chinese aluminum billet prices also rose 0.3 percent. The Chinese aluminum cash price rose 0.1 percent. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat, and the price of Chinese aluminum bar saw little movement.
Ma'aden is participating this week in the 16th Arab International Aluminum Conference (ARABAL) which takes place during November 20 - 22 in Doha, Qatar. Ma'aden is a sponsor of the event which is the premier trade event for the Middle East's Aluminum industry and the only conference in the world attended by every single primary Aluminum manufacturer in the region. Ma'aden's presence at the event includes an exhibition showcasing the latest progress in its $10.8bn joint venture with Aloca at Ras Al Khair which will be the largest and most efficient vertically integrated aluminum complex in the world. Also, Engr Abdullah Busfar, Vice President of Ma'aden Aluminum Company will join a panel discussion alongside other aluminum industry executives from across the Middle East to debate key...
The London Metal Exchange's latest proposal to address the issue of long queues for delivering metal out of its warehouses should go some way to easing the effect of aluminum and zinc bottlenecks on other metals, but more could be done to further improve the situation, Barclays said Monday. Last week, the LME proposed that warehouse companies that have scheduled delivery commitments of 30,000 metric tons or more of one metal from a particular location deliver out an additional 500 tons of metal per day from that location of metals other than the dominant metal. This is in reaction to delivery backlogs at certain warehouses caused by some metals, especially aluminum, which have become increasingly popular as a financing tool since the global financial crisis. This is restricting the...
Saudi Arabian Mining Company (Maaden) will start initial production at its 740,000 tonnes per year aluminium smelter next month. Maaden and Alcoa teamed up in 2009 to build a $10.8 billion aluminum complex at Ras al-Khair on the Gulf coast, which is fast becoming a Saudi mining centre. The smelter will have a capacity of 740,000 tonnes per year and production will be ramped up gradually to that level, Maaden said on Wednesday. In addition, the partners are developing a bauxite mine with the capacity to produce 4 million tonnes of the raw material for the plant a year, and a metal rolling mill with a capacity of up to 460,000 tonnes. The first phase of the project, which includes the smelter and the rolling mill, should be running by 2013, while the mine and a refinery are expected to open...
Australia should set aside enough gas for use by local industries because it would benefit the economy more than by just exporting it, says the local head of Alcoa. Australia should have a thriving aluminium smelting industry providing jobs and income, but was instead missing out by selling bauxite and alumina offshore where others produced it, said Alcoa of Australia managing director Alan Cransberg at a business lunch. Global giant Alcoa is the world's largest aluminium company, through production of bauxite, alumina and aluminium. An argument is growing in Australia between high energy users worried about soaring prices wiping out margins and petroleum companies developing massive suite of liquefied natural gas projects around Australia wanting to the best return on the hundreds of...
The first full day of the Arab Aluminium Conference – ARABAL 2012 – has kicked off in Doha, with regional issues, power generation and technology dominating the agenda. Mr. Al Shaibi, Chairman of ARABAL 2012 Organising Host Qatalum, took the audience through the steps that the company has taken in Qatar and the achievements realized in the aluminium industry and industrial sector. However, he sounded a word of caution: “We do not expect low prices to last; unlike many other metals, growth in aluminium demand is positive and we expect it to continue”. Mr. Al Shaibi expects prices to follow bullish forecasts in demand. He expressed gratitude to the Qatari government. The industrial sector in Qatar is moving on the right track, he noted. “It is truly an international industry, due to the...
The 16th ARABAL Conference has kicked off at the Grand Hyatt, and taken the delegates from around the world on two separate tours: a virtual tour through a storied corner of the City of London – the London Metal Exchange – as well as a physical tour of the Qatalum plant at Mesaieed Industrial City. Tuesday began with a workshop presentation in front of 200 ARABAL delegates by Martin Abbott – CEO of the London Metal Exchange. The LME is since 1877 the world’s premier non-ferrous metals market, and which offers a range of futures and options contracts for non-ferrous, minor metals and steel. The standing-room-only workshop was an invaluable opportunity for delegates to get a deep understanding of one of the least-understood links in the chain of the global metals industry. The LME provides...
Mozambique’s balance of trade posted a deficit of USD 687 million in the first half of this year, despite the fact that the country started exporting coal about a year ago, and that goods imports have fallen by 2.6%. Reporting this Macauhub News Agency quoted the Mozambican daily newspaper O País as saying that coal, which contributed USD 196.4 million, was the second-largest export product in the first half of the year, but was not enough to offset the trade deficit. The Bank of Mozambique issued statistics which showed that in the first half of the year Mozambique’s exports totaled USD1.8 billion, a rise of 3.6% against the same period of 2011. In The Mozal aluminium foundry saw its turnover fall significantly over the same period due to a drop in the international aluminium price. The...
The Arab Spring and its impact on industry and investment, and developments in the Chinese aluminium market are expected to occupy prime place at the 16th edition of Arab International Aluminium (Arabal) conference, which will begin in Doha tomorrow. More than 140 companies in the aluminium sector from over 45 countries - a new record - are expected to attend the Arabal 2012. The preparatory committee said that this year’s conference will include several topics, panel discussions and outstanding workshops that would focus on the aluminium sector at the local and global levels. The conference will be hosting some of the most prominent figures in the sector with experts and academics addressing the conference and presenting their scientific and practical expertise. Qatalum’s public...
Century Aluminum is one of today's notable stocks on the rise, up 3.5% to $7.10. The S&P is trading higher by 1.6% to 1,381 and the Dow is trading 1.3% higher to 12,746. Century Aluminum Company produces primary aluminum, in both molten and ingot form, through facilities located in the United States. The Company owns and operates a reduction facility in Ravenswood, West Virginia, and owns a partial interest in a reduction facility in Mt. Holly, South Carolina. Century is also the operating partner of a reduction facility in Hawesville, Kentucky. Over the past year, Century Aluminum has traded in a range of $5.52 to $11.30 and is now at $7.10, 29% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.9%. Century Aluminum...
Daily Aluminum Prices The 3-month price of aluminum fell 1.7 percent on Nov. 16, 2012 to $1,953 per metric ton on the LME, making it the day's biggest mover on MetalMiner's aluminum price index. The LME primary aluminum cash price changed direction with a 1.7 percent drop, after two days of improving prices - the metal finished at $1,932 per metric ton on the LME. The cash price of primary Indian aluminum fell 0.5 percent. The cash price of Chinese aluminum finished the market day up 0.3 percent per metric ton. The price of Chinese aluminum scrap was unchanged, and Chinese aluminum billet and Chinese aluminum bar remained essentially flat.
Moody’s downgraded France’s sovereign debt rating on Tuesday, offsetting optimism brought by the upbeat existing home sales in the US. The EU finance ministers meeting was discussing Greece’s application for 15 billion euros worth of bailout funds during the European session, turning investors cautious. LME aluminum proved resilient to declines compared with other base metals and held steady above USD 1,970/mt. However, LME aluminum inventories broke through 5.17 million mt to hit a fresh record high, so longs liquidated positions at the tail of trading, causing LME aluminum to expand losses. Total positions decreased sharply by 22,643 lots. Finally, LME aluminum ended the day down USD 20.8/mt or 1.05% at USD 1,956.5/mt. Latest LME aluminum inventories surged by 65,200 mt to 5,172,500 mt....
Low demand in the sluggish economic environment cut German aluminium production in Jan/Sept 2012 to a fall of 1.5 per cent on the year to 790,854 tonnes, German aluminium industry association GDA estimated on Tuesday. "No improvement is expected in the final quarter of the year," the association said in a statement. German smelters produced 305,992 tonnes of primary aluminium in the first nine months of 2012, down 5.6 per cent on the year, the association said. Production of secondary aluminium from scrap metal rose 1.6 per cent to 484,862 tonnes, it said.
An independent study into the health of vegetation in the vicinity of Emirates Aluminium (EMAL), has determined that ‘no harm’ has been caused to the vegetation from EMAL’s operations. This study was conducted by Professor Alan Davison, a renowned international expert who has undertaken similar studies at other aluminium smelters. Professor Davison, an emeritus professor from Newcastle University in the United Kingdom, assessed if any damage to the vegetation had occurred from air pollution, by conducting a visual study of vegetation to analyse the effects of fluoride emitted from the Al Taweelah smelter. Prof Davison’s study concluded that there was no significant impact on the either vegetation or animal life in the vicinity of EMAL. “From the beginning environmental protection has been...
Mainland China's aluminum output remains strong, meaning the market is still not getting the supply cuts necessary to start whittling down ample global supplies, said Barclays Capital in an assessment of a report on Chinese base metal output in October. According to the British bank, copper and lead production hit record highs, while zinc production rebounded. Aluminum output, meanwhile, rose 20% year-on-year, partly in comparison to a weak base. "There is thus little indication of the smelter cuts we believe are needed to restore balance to the market," the bank added. "Government intervention, whether via power subsidies or stockpiling, is keeping loss-making smelters open and exacerbating the surplus. Semis production surged 24% y/y and the year-to-date rate picked up to 15%, which in...
It was announced here on Monday that the Gulf Cooperation Council (GCC) countries are currently controling 13 percent of global aluminum production, while its production did not exceed 0.5 percent in 1983. This production is constantly increasing due to development of the aluminum industry, as well as increase of production lines, Mohammad Al-Naqi, president of Arab International Aluminum Conference "ARABAL" 2012, said during a press conference held by the Preparatory Committee of "ARABAL" 2012 in Doha to mark the launch of the 16th edition of ARABAL, set to take place on Tuesday. Al-Naqi asserted that Qatar was able to remarkably develop its economy, pointing out at the same time that the Qatari economy has moved from dependence on the energy sector to become a diversified economy that...
The Gulf region’s combined contribution to global aluminium production has grown to an estimated 12 to 13 percent. The region’s production capacity has grown substantially over the years and the Arab countries are looking for further boost its production capacity in the coming years, Mohamed Al Naki, Chairman, Preparatory Committee, Arab International Aluminium Conference (ARABAL) said here yesterday. The region’s contribution to the global production was just 2.3 percent until 1983. With key countries including Qatar, Saudi Arabia, UAE and Oman set to expand their capacities, the region’s contribution to the global production is expected to go up further, Al Naki said while briefing the preparation of the 16th edition of the “ARABAL” set to open here today. The three-day conference will...
