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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Several major industrial firms with operations in Central Queensland have been granted millions of carbon units. While Alcoa and Queensland Nitrates were the first two companies to be granted carbon units under the trading scheme, nine other companies have now joined the scheme. Among them, Orica Australia was given about 150,000 units and Alcan Grove was given about 1,500,000 units, with RTA Yarwun granted about 1,800,000 units. Also present in the updated list was Rio Tinto Aluminium with more than 8,800,000 units issued and two Visy Paper businesses, with more than 1,200,000 units issued.
LME aluminium looks exhausted in its fall and may temporarily stop at or above a support at $1,952. A five-wave cycle from an hourly chart high at $2,121.75 is ending, and most likely the bottom of the fifth wave will be at $1,952, the 138.2 percent Fibonacci projection level of a downward wave C. The support is expected to trigger a rebound which may go to $2,004, the 100 percent projection level. The metal may also start the rebound from the current level towards $2,004. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Mining giant Rio Tinto Plc. RTNTF.PK, RIO, RIO.L, RTPPF.PK on Tuesday reported a modest growth in global iron ore production for the third quarter, despite volatility in markets. Unfazed by the economic uncertainties, the company confirmed its production forecast for the year. Iron ore accounts for roughly two-thirds of the profit of Rio Tinto. The company said global iron ore production for the third quarter advanced 5 percent to 67 million tonnes. Rio Tinto chief executive Tom Albanese said, "We have delivered another strong set of production results in the third quarter, including record quarterly Pilbara iron ore production. Copper, bauxite, alumina, and titanium dioxide production were all higher than in the same quarter of 2011.'' Rio Tinto's share of production amounted to 52.63...
UAE built and owned corporation, Dubai Aluminium Dubal stands tall in the region and the world as an ambitious and successful global player in the aluminium industry yet remains deeply conscious of its national roots these sentiments, together with DUBAL's culture of excellence through innovation driven continuous improvement, underpin the rationale behind the corporation being a main sponsor of the Ideas. Arabia Sub group's first ever UAE Ideas Conference, which took place in Dubai on 9 October 2012. The focus of the conference was UAE Innovation 2012, under the theme 'My Innovation. This provided an open field to discuss all topics related to creativity and innovation in the UAE with specific reference to their impact on driving growth in various fields such as environment, economy,...
Indonesia's government is in talks to buy out the Japanese majority owners of aluminium producer PT Inalum for an estimated $700 million, the southeast Asian nation's industry minister said on Tuesday. The talks over PT Inalum, whose output of aluminium ingots last year fell 0.9 percent from 2010, are part of Indonesia's efforts to generate increased revenue from its abundant natural resources and curb foreign ownership in the sector. Nippon Asahan Aluminium, a consortium of 12 Japanese firms, holds 58.8 percent of PT Inalum, while the Indonesian state owns the rest. The consortium's 30-year contract is due to expire next year and the government has long since indicated that an extension is unlikely. "The decision is that the Indonesian government will terminate the contract and will then...
The Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada will deliver the opening address at Arab International Aluminium Conference (Arabal 2012), which will be held in Doha from November 20 to 22. Al-Sada will highlight Qatar’s industrial achievements and the growing importance of aluminium industry in the region, in general, and in Qatar in particular. The organising committee of Arabal 2012 yesterday said that more than 40 speakers have confirmed participation at the event. The welcome address will be given by Mohamed Ali al-Naki, founder and chairman of Arabal, in which he will present the history of Arabal since its inception in 1983. Al-Naki is a leading industrialist, who has held a number of senior positions and founded several firms including Kuwait Aluminium Company,...
Qatar Aluminium (Qatalum) has taken part in the world's leading international trade fair, Aluminium 2012, which was held in Messe Dusseldorf, Germany, from the 9th to the 11th of October. This year, roughly 25,000 visitors from 100 countries attended, to see 950 visitors across 75,000 sq metres of exhibition space. Qatalum was exhibiting a stand alongside several hundred other key players including aluminium producers, aluminium processors, aluminium technology and equipment providers and suppliers. The many thousand visitors were also able to see the foundry pavilion, a welding and joining pavilion, and magnesium, trade and recycling areas. For Qatalum, contact with such a variety of industry experts and stakeholders is crucial to retaining its place at the cutting edge of industry...
Alba was a sponsor of the Third Annual Asian Petcoke Conference in Hong Kong. The event provided some of the industry's leading experts in anode-grade and fuel grade petroleum coke with the opportunity to learn about new trends and developments in the industry as well as address issues and concerns. Alba's carbon operations manager Daniel Suleiman Asghar presented a paper 'Use of under-calcined coke to produce anodes' during a session which examined the global carbon outlook. "Alba is one of two aluminium smelters in the world to have a dedicated petroleum coke calciner plant," said chief operations officer Isa Al Ansari. "This places the company in a unique position as it allows us to have total control over the quality of anodes being produced and consequently in developing a positive...
Reuters reported that aluminium stocks held at 3 major Japanese ports stood at 273,900 tonnes at the end of September up 4.9% from 261,000 tonnes a month earlier. Trading house Marubeni Corporation said that the stocks at the end of September were up 18.4% from 231,400 tonnes in the same month in 2011. Marubeni collects data from the key ports of Yokohama, Nagoya and Osaka. Japan, which has to import nearly all the metal it needs, consumes about 2 million tonnes of aluminium annually or 5% of global demand. The metal is widely used in products ranging from housing materials, planes and electronics to the food sector.
Reuters reported that Rio Tinto is pushing ahead with plans to sell a century old aluminium plant in the Alps of southeast France as the global mining group continues its retreat from a struggling aluminium sector. The group's Rio Tinto Alcan division that operates the Saint Jean de Maurienne plant said that the upcoming renewal of 30 year old electricity supply contract with EDF swung the balance in favor of selling a site that was among its less profitable. The plant, which went into production in 1907 in the early years of the aluminium industry had 431 workers at the end of last year making it in the leading employer in the local area. A spokeswoman for Rio Tinto Alcan said that "We're focusing our efforts on the sale process, which is progressing well. We have received expressions of...
With the Vedanta group deciding to restructure its holdings in mining and metals, Sesa Goa will soon be transformed into Sesa-Sterlite, with the merger of Sterlite Industries, and will house the group’s stakes in Cairn India, Vedanta Aluminium’s Indian projects and Balco. Vedanta proposes to issue three Sesa Goa shares for every five Sterlite Industries shares held. Post-merger, the iron ore business may bring in only 10-11 per cent of the entity’s combined profits, estimate analysts. The merger seems to be quite a mixed bag, though it may shield Sesa to some extent from the risks of regulatory intervention in the iron ore mining business. Vedanta Aluminium, for instance, brings with it the risks of prodigious debt and the unavailability of bauxite for the refinery. Both Hindustan Zinc...
IMaCS, in its commentary on Indian aluminium industry said that over the medium term the sectors that are likely to drive the expected increase in demand include power, construction and automotives. India’s aluminium consumption increased 7% in 2011 to around 1.6 MT and at a 5 year CAGR of 8%. The bulk of India’s demand is accounted for by the electrical sector followed by transport, machinery and packaging. By comparison, globally, the use of aluminium by major sectors stands at transport equipment, building and construction, packaging, electrical and machinery. The IMaCS said that India’s primary aluminium production capacity is expected to increase from 1.7 million tonnes per annum at present to 4.7 million tonne per annum by end FY2017 with much of the forecast expansion in capacity...
BR reported that Tajikistan's state owned aluminium smelter raised production by 0.2% YoY in the first 9 months of 2012. A source close to the management said that Tajikistan Aluminium Company produced 210,672 tonnes in the January to September period. TALCO has been ramping up production this year after a modernization program completed at the end of 2011 which has resulted in lower YoY output figures for most of 2012. A 15 day stoppage of Uzbek gas supplies also hit output in April. The company last month cut its 2012 output forecast by 15%. It now expects to produce 281,000 tonnes of aluminium this year down from a previous forecast of 332,500 tonnes but slightly more than the 277,584 tonnes produced in 2011. The smelter's production is crucial to the economy of Tajikistan, the poorest...
With the expectation of moderation in growth in India’s industrial production and real gross domestic product (GDP), demand for aluminium is likely to increase at an annual average growth rate of 6% during 2012-2014, says ICRA Management Consulting Services Ltd (IMaCS), a subsidiary of ICRA. IMaCS, in its commentary on Indian aluminium industry, says over the medium term the sectors that are likely to drive the expected increase in demand include power, construction and automotives. India’s aluminium consumption increased 7% in 2011 to around 1.6 mt, and at a 5-year CAGR of 8%. The bulk of India’s demand is accounted for by the electrical sector (39%), followed by transport (18%), machinery (15%), and packaging (9%). By comparison, globally, the use of aluminium by major sectors stands at...
Indian Express reported that Indian aluminium prices declined by 0.71% to INR 105.25 per kilogram in futures trade as speculators indulged in booking profits at prevailing higher levels, driven by sluggish demand in the spot market. At the Multi Commodity Exchange, aluminium for delivery in October declined by 75 paise or 0.71% to INR 105.25 per kilogram with a business turnover of 2,738 lots. Similarly, the metal for delivery in November shed 55 paise or 0.51% to INR 106.50 per kilogram with a business turnover of 254 lots. Marketmen said that profit booking by speculators at prevailing higher levels, driven by sluggish demand in the spot market mainly kept pressure on aluminium futures.
Vedanta Resources updates about its alumina and aluminium production. Alumina production at the Lanjigarh refinery was 205,000 tonnes in Q2 and 423,000 tonnes in H1, 10% and 6% lower than the corresponding prior periods due to lower supply of third party bauxite. With reduced availability of third party bauxite we are evaluating various options including a temporary shut-down of refinery operations. The Jharsuguda-I and Korba-II smelters operated above their rated capacities, with significant improvement in specific power consumption and throughput at Jharsuguda-I. Aluminium production was 30% higher at 197,000 tonnes in Q2 and 18% higher at 382,000 tonnes in H1. Total production of value added products was 11% higher at 215,000 tonnes in H1. Power sales at BALCO 270MW were lower in Q2...
Meridian Energy had contingency plans to sell its Manapouri power station electricity if the Tiwai Point aluminium smelter closed, Meridian chief executive Mark Binns said yesterday. Negotiations between the smelter and the state-owned enterprise over the future of its electricity contract continue. Smelter owners Rio Tinto have said the smelter could close if it could not secure cheaper prices from Meridian. Manapouri has a maximum generating capacity of 800MW, which Meridian said could power 591,000 homes a year. Most of its power is used by the smelter, which it was built to supply. If the smelter closed, it could free up generation for use elsewhere. "If the smelter did close, we have been through planning exercises and we've evaluated all potential outcomes," Mr Binns said. Two 220...
Government aims to divest stakes in state-owned companies Oil IndiaBSE -0.11 % Ltd, Hindustan CopperBSE -1.25 % Ltd and National AluminiumBSE 0.30 % Co Ltd by November, the official in charge of the government's divestment programme said on Friday. One of the divestments could take place by the last week of October, Mohd. Haleem Khan, secretary at the department of divestment, said. New Delhi aims to raise 300 billion rupees ($5.5 billion) through share sales in state-run companies in the current fiscal year that ends next March, but has thus far drawn a blank as weak market conditions have deterred public issues or auctions.
