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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On the 10th of September 2012, Qatalum celebrated the production of one million tonnes of liquid metal sent to its casthouse, a milestone achieved through dedicated teamwork and continued improvement in efficiency. This achievement forms part of Qatalum’s vision of becoming a sustainable economic catalyst in turning Qatar's gas energy into a valuable commodity, and proves that the company is leading the way for the Gulf in producing high-quality aluminium products. Qatalum’s potlines are producing approximately 600,000 tonnes annually, 15,000 thousand tonnes above their average capacity since full production began in September 2011. This resounding milestone is directly attributed to the competencies brought to productivity by the potlines’ international teams, the steady implementation...
The Sardinia region's government will discuss ways with energy group Enel to reduce the price of power for Alcoa's Italian plant, the Sardinia region president Ugo Cappellacci said on Tuesday. A discounted energy price for Alcoa could help entice a buyer for the smelter, which U.S. aluminum maker Alcoa wants to close down. Among companies eyeing the smelter, which is located in Sardinia, are Swiss commodities trader Glencore which suspended talks with Italian authorities after the Italian Industry Ministry rejected a request to provide discounted energy prices. Italy has among the highest electricity prices in Europe, and aluminum smelting in an energy-intensive industry. "We have not lost hope on Glencore, we are working to find a solution," Cappellacci said at the sidelines of an event...
LME aluminium would retest a support at $2,071 per tonne, as a downtrend from $2,199 has resumed. This trend will totally reverse a preceding uptrend that started at the Aug. 16 low of $1,827.25, as the uptrend has been driven by three waves. A three-wave mode is the typical wave pattern of a rebound. A Fibonacci retracement analysis on the rise from $1,864 to $2,199 reveals the downtrend has been temporarily interrupted by a support at $2,071, the 38.2 percent level. After a moderate wave b rebound, the trend has resumed and is riding on a downward wave c, which will easily travel below $2,071. 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...
The aluminum 3-month price saw the biggest upwards shift for the day on our MetalMiner’s price index, rising 1 percent on the LME to close at $2,096 per metric ton on Sept. 28, 2012. Also on the LME, the cash price of primary aluminum increased 1 percent as well to $2,068 per metric ton. The cash price of primary Indian aluminum finished the market day up 0.2 percent per kilogram. Chinese aluminum prices barely registered any movement last Friday. The Chinese aluminum cash price gained 0.1 percent, while Chinese aluminum scrap, aluminum billet and aluminum bar prices all stayed unchanged from the day before.
Warnig's promotion marks only the latest step up the ladder of major Russian business for the former Dresdner Bank Group member. The 57-year-old already serves as managing director of the Nord Stream AG's operator of Russia's new Baltic Sea natural gas pipeline to Germany that was unveiled last year. He is also the chairman of the Transneft state oil pipeline monopoly and board member of the Rosneft energy giant as well as two major banks and smaller companies. Warnig replaces interim chief Barry Chung at the seat of power of tycoon Oleg Deripaska's major holding – a company in crisis because of raging disputes over how to handle more than $10 billion of debt incurred in the 2008-2009 financial crisis. "Mr Warnig has significant public company experience having served on the board of...
Bilaspur High Court has dismissed a petition filed against the 1,200 MW power plant of the Bharat Aluminium Co Ltd (Balco) here. Amarnath Agarwal, a resident of Kosabadi in Korba town, had filed a petition against the company's 1,200 MW plant, Balco spokesperson Abhishek Sinha told reporters. In the petition, Agarwal had alleged that the construction of the plant was being carried out without the mandatory permissions from the municipal corporation. The PIL was filed against the Chhattisgarh state, the municipal corporation, state pollution control board, MOEF and Balco appealing action against Balco for unauthorised construction with respect to the power plant. The petitioner had pleaded for directions to be issued to the municipal corporation for taking steps for removal of construction...
China's biggest aluminium producer, Aluminium Corp of China (Chalco) yesterday said that it will abandon plans to buy a 29.9-per cent stake in Mongolian coal exporter Winsway Coking Coal as it would not be able to get approvals from Chinese and overseas regulators by the 30 September deadline. This is the second deal the Beijing-based company is abandoning this month after it dropped its proposed $926-million bid for Mongolia-focused Turquoise Hill's stake in SouthGobi Resources following the Mongolian government's strong opposition to the transaction. (See: http://www.alcircle.com/NewsDetails.aspx?center=NC&recId=12711) Turquoise Hill was formerly known as Ivanhoe Mines. In April, Chalco had offered to buy a stake in Winsway, a supplier of Mongolian coking coal to the Chinese steel...
It was inevitable, really – we have written several times this year on the rising spot premiums for physical delivery of primary aluminum ingot. Japan has seen the greatest surge in premiums, but Europe and even the U.S. Midwest ingot price have not been far behind. Of course in the U.S., consumers are used to paying for semi-finished products as a conversion premium over the Midwest ingot price, which already factors in a physical delivery premium. If you like, U.S. prices have been a more honest reflection of ingot supply and demand costs than those for Europe, where prices have been based on a premium over the primary aluminum LME quotation. Well, Alcoa (AA) couldn’t stand the pain any longer. With premiums reaching U.S. $200 per ton or more, Alcoa has taken the lead and announced they...
The week’s biggest mover on the weekly aluminum price index was the cash price of primary aluminum, which saw a 3.5 percent decline on the LME to $2,048 per metric ton. This comes on the heels of a 2.4 percent increase the week before. Following a 2.9 percent increase in the week prior, the aluminum 3-month price fell 3 percent on the LME last week to $2,075 per metric ton. The Indian aluminum cash price fell 3.3 percent from the prior week. The price of Chinese aluminum billet fell 0.3 percent after rising 0.6 percent the week before. Following a 0.6 percent increase in the week prior, the Chinese aluminum cash price fell 0.3 percent last week as well. Chinese aluminum bar traded sideways last week. Prices for Korean 3003 coil premium over 1050 sheet remained constant. Korean 5052 coil...
The Qatalum smelter in Qatar is the largest, highest output aluminium smelter in the world. With a mind-boggling 704 individual smelting pots, it produces upwards of 585,000t of aluminium each year. That’s a lot of Coke cans. The Qatalum smelter was built in 2009 by the ABB company out of Auburn Hills, Michigan. It’s not just the biggest, but it’s also the most efficient. Smelters require high power converters called rectiformers. Rectiformers convert the incoming AC current (from the grid or an on-site power plant) into the DC current used in an electrolytic process to keep the the aluminium in the pots molten. Most rectiformers can only produce 1200V of direct current (DC). But the rectiformers at Qatalum generally operate at 1750V — and they can go as high as 2000. A smelter this size...
Timely project execution will be the key to growth for Hindalco Industries, the Aditya Birla Group flagship, as the company lines up an array of projects to be commissioned up to 2015. Mahan smelter, Aditya Aluminium along with a power plant, Aditya Alumina and Jharkhand Aluminium are among the prominent projects that will, over the next two to three years, push top line growth for Hindalco. The company is likely to commission its 360 kilotonnes per annum Mahan smelter in December, while Aditya Aluminium, another 360 ktpa smelter in Odisha, along with a power plant is likely to go online by 2013. Aditya Alumina, an alumina refinery in Koraput, Odisha, is likely to start in 2014 and Jharkhand Aluminium, another aluminium smelter, in 2015. A senior Hindalco Industries official told...
Base metals erased previous gains on Wednesday and thus more or less followed a sell-off of risky assets. Moreover, some traders might have closed positions ahead of 5 days holiday in China which starts next week. Prices of both copper and aluminium thus fell by more than 1.5 percent. The aluminium market continues to cope with the overproduction of the metal and the large stocks in LME warehouses, on the one hand, and with high premiums on the purchases of the metal outside the LME on the other. The high premiums are likely preventing a significant decline in the production of the metal, and this limits the latitude for a significant price increase in the months to come. Not even demand is likely to encourage a price increase now. The economic growth deceleration in China, the recession...
According to the analysts of SMM that market supply was expand continuously but demand still sluggish, cast aluminum alloy price was unlikely to rise substantially if without the support of downstream industry consumption. Since metal market was improved a lot as well as aluminum alloy ingot price, but future price trend will still plagued with fundamental plane. It is expected that ADC12 aluminum alloy ingot’s transaction price will between 15,800-16,800 yuan/ton in Eastern China in Q4. In recent years, China cast aluminum alloy output was kept stable increase, in 2011 produced 6,120 thousand tons totally. This year, with the operation of newly added capacity in Shanghai, Chongqing, and Nantong, SMM expected China cast aluminum alloy output may hit 6,470 thousand tons this year. SMM’s...
The aluminum 3-month price crawled out of a two-day slump with a 0.9 percent improvement on the LME to close at $2,096 per metric ton. Also on the LME, the primary aluminum cash price inched up 0.5 percent to $2,068 per metric ton on MetalMiner’s daily aluminum price index. The cash price of primary Indian aluminum weakened by 0.9 percent. Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum rose 0.3 percent. The price of Chinese aluminum scrap, aluminum billet and aluminum bar saw essentially no change yesterday.
Aluminium Bahrain, which owns the world's fourth-largest aluminium smelter, has named Tim Murray as its chief executive officer, the company said in a statement on Thursday. Murray, who previously served as Alba's chief finance and supply officer, will succeed Laurent Schmitt from Oct. 1, the filing to the London Stock Exchange said. Schmitt, who took up the CEO position in January 2010, is leaving to take up an advisor role in developing Bahrain's downstream aluminium industry.
Danish engineering group FLSmidth & Co A/S on Thursday said it had won a contract in Venezuela worth $48 million for engineering, supply and installation of a feeding system for an aluminum smelter. The order had been placed by Venezuelan state-owned aluminum company CVG ALCASA, FLSmidth said in a statement. The project is part of a $400 million refurbishment plan of CVG ALCASA's technologies, it said. The order would contribute to FLSmidth's earnings until mid 2015, it added.
There have been plenty of ups and downs with the global price of aluminium, according to Lloyd T O'Carroll of Davenport & Company. Over the past month, claims O'Carroll in the Aluminum Association's Aluminum Highlights, the LME cash price has gone from just under $2,000 earlier in September to just shy of $2,200/mt mid-month and now sits at around $2,100/mt. The price of aluminium is at its highest mark since late March, boosted by stimulus worldwide when China announced in early September that it was spending on a fresh infrastructure program. There was monetary stimulus from the USA's Federal Bank on September 13 when it unveiled its third round of quantitative easing (QE3) extending its view that short-term interest rates are likely remain close to zero from 2014 to mid-2015. According...
A report from United States Geological Survey (USGS) has mentioned that US Aluminium production increased in the month of July. The total primary Aluminium production in US was 177000 tonnes in the month of July compared to 173000 tonnes in the month of June 2012. This marked a rise of 2.3% on a monthly basis. On a yearly basis, Aluminium production was up from 171000 tonnes. US Primary Aluminium production in the month of January-July was 1.23 million tonnes, up 9.4% from corresponding period previous year when the production was 1.12 million tonnes. Secondary Aluminium production both from primary and secondary sources was 2.01 million tonnes in January-July 2012, up 14.2% from 1.76 million tonnes in January-July 2011. Secondary Aluminium production in July was 291000 tonnes compared to...
