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...
Grow with
AL Circle
The biggest mover on MetalMiner’s weekly aluminum price index was the Indian aluminum cash price, which saw a 2.1 percent increase. This comes on the heels of a 1.1 percent decline the week prior. The cash price of primary aluminum rose 1 percent on the LME to $1,900 per metric ton after falling 1.3 percent during the previous week. The aluminum 3-month price rose 0.9 percent on the LME to $1,928 per metric ton after falling 1.1 percent during the previous week. Chinese aluminum billet closed out the week after a 0.7 percent decline. The Chinese aluminum cash price fell 0.4 percent for the week. Chinese aluminum bar remained unchanged for the week. The week finished with no movement for Korean 3003 coil premium over 1050 sheet. Prices for Korean 5052 coil premium over 1050 sheet remained...
Greece raised 4.062 billion euros in short-term bond sale, helping the euro stabilize at the lower end. Still, the debt crisis in Greece tends to deteriorate, capping gains of commodities overnight. LME aluminum was weak in early European session, but touched a high of USD 1,989/mt as positive news from Greece forced shorts to exit the market. Finally, LME aluminum closed USD 8.5/mt or 0.43% higher at USD 1,978.5/mt. Latest LME aluminum inventories decreased by 4,175 mt 5,101,625 mt. Aluminum prices will be trapped within a tight range as investors were wary of buying at higher prices. LME aluminum should test support at the 20-day moving average and move between USD 1,940-1,990/mt on Wednesday. The SHFE 1301 aluminum contract is expected to open at RMB 15,310/mt on Wednesday, with prices...
In an historic alliance, Sonatrach, the national Algerian oil and gas company, yesterday signed in Algeria an agreement with Mubadala Development, a wholly owned investment and development vehicle of the Abu Dhabi government and Dubai Aluminium (Dubal), wholly owned by the government of Dubai to develop the country's first aluminium smelter. The smelter is to be located on a 400-hectare site at Beni Saf on the western coastline of Algeria. It is expected to produce around 700,000 tonnes of high grade primary aluminium per year, largely for export. The agreement was jointly signed by Khaldoon Khalifa Al Mubarak, CEO and managing director of Mubadala Development, and Abdullah Kalban, CEO of Dubal. The complex will include a 2,000 megawatt power plant with a specially constructed deep-water...
A representative from Emirates Aluminium (EMAL) delivered a keynote presentation on the successful delivery of Phase I of the UAE’s flagship industrial project to an international audience on 30 October, 2012. The presentation took place during the International Committee for the Study of Bauxite, Alumina and Aluminium’s (ICSOBA) 19th International Symposium being held in Belem, Brazil from the 29 October to 2 November 2012. Delegates were able to hear first-hand from someone with experience at the heart of the project; Abdulla Alriyami, Manager, Reduction Line, at the Al Taweelah smelter. Abdulla played an integral role in the start-up of the potline and was responsible for generating liquid bath for the very first pots at EMAL (a key step in turning raw materials into aluminium metal)....
China’s State Reserves Bureau (SRB) has issued tenders to buy 160,000 tonnes of primary aluminium and 150,000 tonnes of zinc ingots from local smelters, sources said, the first clear sign Beijing is resuming metals stockpiling. The sources, who received the tender notices, said the reserves body was set to hold the tenders on Wednesday for aluminium and on Thursday for zinc, although it was not announced on the SRB website. Last week, Reuters reported that China is expected to soon resume stockpiling of some base metals, including copper and aluminium, buying them from domestic smelters hurt by weak demand. But the stockpiling could mean more than support for a desperate industry, Natixis analyst Nic Brown said, arguing it could signal Beijing is ready to push ahead with a programme of...
Rusal, the world's biggest aluminum producer, posted a 91 percent fall in its nine-month IFRS net profit to $143 million as a result of falling prices, the company said in its earnings statement on Monday. The figure was below a consensus forecast of analysts polled by RIA Novosti who expected the company to post a net profit of $209.3 million. “Nine months of the current year have been particularly challenging for the aluminum industry. The operating profitability and underlying results of the company in the third quarter of 2012 were seriously hit by the bottomed LME [London Metals Exchange] aluminum price as a result of investor sentiment,” Rusal CEO Oleg Deripaska said in a statement. The company’s revenue fell by 12.8 percent in the reporting period to $8.267 billion while adjusted...
Aluminium Bahrain B.S.C. (Alba) provided a tangible demonstration of its gratitude to its employees with a ceremony held at the Alba Club on Thursday, November 8, 2012 to honour employees who have served Alba for 10 and 30 years. Alba's Chief Executive Tim Murray presented the long service employees with gifts and certificates to appreciate their years of service to the company. Also present at the event was the Chief Support Function Officer, Basem Al Sharqi, Acting Chief Finance & Supply Officer, Ali Al Baqali and the Chairman of the Alba Labour Union, Ali Bin Ali as well as managers of different departments and members of the Alba Labour Union. Commenting on the event, Chairman of the Alba Labour Union said, "Workers are the life force of any organisation since it is through their...
The issue of surplus has come back to haunt aluminium again taking a toll on bullish projections. Following September’s QE- and positioning-fuelled rally, retracement over the past month has taken LME aluminium prices back down towards the $1,900/t level. This move lower has been more than justified by a continued deterioration in the quality of underlying market fundamentals. "Our projected market surpluses have expanded again, to 1.2Mt for 2012 and 1.5Mt for 2013, both increases of close to 100Kt, reflecting the impact of generally weaker-than-projected Chinese demand in September." Barclays said in a report. Set against robust production growth in China during the month (up 6% y/y to 20.3Mty), domestic visible inventories have now risen to 1Mt, representing a 500Kt rise since the...
China's State Reserves Bureau (SRB) has issued a tender to buy 160,000 tonnes of primary aluminum from local smelters, two sources who received the tender notice said on Monday. The tender is the first concrete sign that the country is resuming a programme of stockpiling base metals, with the sources saying the reserves body is set to hold the tender on Wednesday. Last week, Reuters reported that China's influential state planner could revive its stockpiling plan as soon as this month to buy around 400,000 tonnes of primary aluminum ingots and 165,000 tonnes of refined copper cathode for state reserves. This volume equates to around 8 days of consumption for refined copper and nearly 7 days for primary aluminum, and compares to China's current stocks of more than one million tonnes of...
Russia’s United Company RUSAL, the world’s top aluminium producer, said it expected orders to pick up towards the year-end due to a rebound in China. Tepid demand for aluminium in an oversupplied market has weighed on producers including Aluminum Corp of China Ltd. Prices have slumped 10 percent over the last 12 months and led RUSAL to report its biggest quarterly recurring net loss since its listing in 2010. The outlook may improve from the final quarter of the year. RUSAL signalled a pick-up in China, the world’s biggest consumer of aluminium, citing market speculation that the government will support infrastructure building and start stockpiling as it did in 2008 and 2009. The company controlled by Russian billionaire Oleg Deripaska said it was optimistic thanks also to growing North...
The first shipment of alumina is now making its way towards the Maaden/Alcoa smelter being built at Ras al-Khair in Saudi Arabia’s Eastern Province and its significance should not go unnoticed. The smelter is part of the $10.8bn aluminium complex being built in the new industrial city and if anything encapsulates how serious Riyadh is about its industrial diversification plans it is this project. Although the GCC has a long tradition of aluminium production stretching back to the 1970s, the Maaden/Alcoa joint venture will be the first in Saudi Arabia. It will eventually be one of the few smelters in the world that controls the full value chain from bauxite mining to the manufacture of end-products, such as can and automotive sheeting. Riyadh must be happy with the way that Ras al-Khair is...
The global aluminum industry is forecast to reach an estimated US $160 billion in 2017 with a CAGR of 5.3% over the next five years (2012-2017). Increasing application, growing environmental concerns, and the move toward greater use of recyclable materials are driving growth in the worldwide aluminum market. Lucintel, a leading global management consulting and market research firm, has analyzed the global aluminum industry and presents its findings in “Global Aluminum Industry 2012-2017: Trend, Profit, and Forecast Analysis.” The aluminum industry is highly consolidated. The Asia Pacific (APAC) region dominates the industry. A combination of factors such as growth in related complementary industries, additional governmental regulations, cyclical fluctuations in input prices, general...
Press Metal Bhd has started testing and the commissioning of its new aluminium smelting plant in Samalaju Industrial Park, Bintulu. The company said the plant’s initial commercial production output would not be significant. “However, it is expected to contribute positively to the group, barring unforeseen circumstances,” Press Metal said in notes to its latest quarterly results. The Samalaju plant, owned and operated by wholly-owned subsidiary Press Metal Bintulu Sdn Bhd, has a 120,000-tonne capacity per annum under its phase 2A. The capacity will be doubled when phase 2B production facilities — slated for completion in the second quarter of next year — become operational. Press Metal’s 80%-owned Press Metal Sarawak Sdn Bhd currently owns and operates an aluminium smelter in Mukah with a...
The theft of a tractor-trailer loaded with more than $420,000 worth of aluminum concrete-pouring forms this week in Burrell Township is under investigation by state police in Indiana. The 2003 Kenworth tractor-trailer and most of the cargo were recovered early Thursday morning just a half-mile from where it was stolen, according a spokeswoman for the owner, Keystone County Concrete Inc. in Brookville. “We got a call from the (Jonnet) Auto Flea Market this morning, who asked us to move our truck and trailer that was parked behind their building. It surprised us,” said the spokeswoman, who declined to be identified. “A lot of the aluminum concrete forms were still loaded, but a few were missing. We think they were stolen to be sold as scrap metal,” she said. In a report, Trooper J.L. Dumm...
China’s economic data for October showed that domestic inflationary pressure eased and PPI rebounded slightly MoM, but fell sharply YoY, curbing gains of LME aluminum prices during Asian session to some extent. The US dollar index jumped above 81 during the European session due to concerns over the US fiscal cliff and European debt crisis, sending LME aluminum down to USD 1,898/mt. LME aluminum regained some losses at the tail of trading due to short-covering before finally closing USD 7/mt or 0.36% lower at USD 1,918/mt. Latest LME aluminum inventories increased by 9,450 mt to 5,095,775 mt. Market risk aversion will continue to weigh on aluminum prices. LME aluminum should find weak support at USD 1,900/mt and move between USD 1,880-1,920/mt on Monday. The most active SHFE aluminum...
Following the release of the Federal Government's Energy White Paper, manufacturers from across Australian industry are today jointly calling for a dedicated and independent inquiry to resolve serious questions about domestic gas supply and prices in light of the expected massive increase in gas exports. The Australian Aluminium Council (AAC), the Australian Food and Grocery Council (AFGC), the Australian Industry Group (Ai Group); the Plastics and Chemicals Industries Association (PACIA) and The Australian Steel Institute are concerned that the Energy White Paper has not adequately addressed the risk of a 'gas gap', despite foreshadowing other important energy reforms. Ai Group Chief Executive, Innes Willox, said: "Natural gas is an efficient and clean-burning fuel for manufacturing...
Invercargill mayor Tim Shadbolt is urging the Government to intervene in negotiations between New Zealand Aluminium Smelters and state-owned Meridian Energy. The Rio Tinto-owned smelter at Tiwai Point has already announced it is cutting 100 jobs to try to save money and has said renegotiating its contract with Meridian is crucial to the plant's future as world aluminium prices plummet. About 700 people are employed at the Bluff smelter and another 700 are contract workers and upgrades have been shelved in an attempt to keep the operation viable. But with no resolution after three months of talks, Mr Shadbolt says Prime Minister John Key is showing an appalling lack of commitment to provincial New Zealand and must intervene in talks. "I mean, they own the electricity company that's sitting...
Aluminum billet producers and consumers are fairly upbeat heading into year-end as most of their 2013 contract business is booked and demand is expected to remain reasonably robust next year on the back of strong automotive markets and a recovering building and construction sector. Tight supply has meant producers have successfully raised contract premiums for next year by 2 and 3.25 cents per pound (amm.com, Sept. 27), with producers and consumers confirming to AMM that they had locked in business at 12 cents per pound for next year. "A couple guys whined (about the increase) but after shopping around, they came back a few days later with a signed contract and said,’We’re looking forward to doing business with you next year, " according to one producer, who is now fully booked for 2013....
