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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Aluminum demand in the US and Canada (shipments by domestic producers plus imports) totaled an estimated 13.467 billion lb during the first seven months of 2012, according to preliminary estimates from the Aluminum Association. That is up 6.9% over the same period last year. Demand for semifabricated (mill) products was up 6.5% to a total of 9.159 billion lb. Apparent consumption (demand less exports) in domestic markets totaled an estimated 11.229 billion lb through July, up 8.7%. Exports of aluminum ingot and mill products from the US and Canada (excluding cross-border trade) totaled 2.238 billion lb through July, down 1.4% from last year, while imports have increased 21.9% to 2.719 billion lb. The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported...
Italy said on Thursday it could not accept requests to provide deeply discounted energy prices to Swiss commodities trader Glencore if it were to agree to purchase the Italian smelter being closed by U.S. aluminium maker Alcoa. In a statement, the Italian Industry Ministry said Glencore's request for a power price at the plant of no more than 25 euros per megawatt hour could not be accepted since it was not in line with average electricity prices in Europe. Glencore, one of six companies eying the troubled Alcoa smelter on the island of Sardinia, has made any offer for the smelter conditional on the government being able to guarantee steeply discounted power prices. Closure of the plant would be a heavy blow for Sardinia which has a 15 percent unemployment rate, well above the national...
Growth in South Africa’s aluminium industry has recovered slowly since the 2008/9 economic crisis, but volumes have not yet returned to pre-2008 levels, highlights Aluminium Federation of South Africa (Afsa) executive director Mark Krieg. He states that certain industries that are supplied by the aluminium sector, such as packaging and consumer durables, continue to grow steadily, in line with the country’s gross domestic product. However, growth in the automotive industry is worrying. Krieg adds that the local automotive industry is important for the aluminium sector and that the industry and government have ambitious plans to double output in the next few years. “The aluminium content in automobiles is increasing because aluminium weighs one-third of what steel weighs, so there is a...
Creditors of insolvent German aluminium plant Voerde Aluminium have voted for it to continue production at least until the end of this year while the search for a buyer continues, Voerde's administrator said on Thursday. The Voerde smelter, which produces 115,000 tonnes of aluminium annually, declared insolvency in May. The plant produced just over 10 percent of Germany's 1.06 million tonne aluminium production in 2011. Germany's metals industry association WVM said the Voerde case illustrates the danger to German metal output from the country's high electricity prices. Germany's electricity costs are 50 percent higher than those faced by rival producers in France, Spain and Scandinavia, the WVW estimates. A meeting of creditors decided to continue production at the plant provisionally...
Russian billionaires Oleg Deripaska and Michael Cherney reached an 11th-hour settlement in a dispute over a billion dollar slice of aluminium giant RUSAL , shortly before they were due to give evidence in a drawn-out London court case. The case, which had been expected to run well into 2013, was due to dwell on allegations of broken promises, criminality and mob rule while shining a light on the murky carve-up of lucrative smelters in the 'wild east' of post-Soviet Siberia. "Mr. Deripaska announces that Mr. Cherney's litigation in London against him has been terminated," a spokesperson for Deripaska said in a brief statement. "Neither party will be making any further comment in relation to the litigation or matters raised therein." Cherney's team released a nearly identical statement....
The Spain's draft budget for 2013 released overnight would cut overall spending by USD 51 billion, easing market worries over the euro zone debt crisis. Despite forecast-beating weekly jobless claims in the US, a string of other economic data were downbeat in the US including August durable goods orders, 2Q GDP final reading, capping upside room of commodities. In response, LME aluminum bucked the trend by rising in European session and broke through the 5-day moving average to a high of USD 2,100/mt. However, LME aluminum failed to break resistance at the 10-day moving average. Finally, LME aluminum ended the day up USD 30.3/mt or 1.45% to close at USD 2,110.3/mt. Latest LME aluminum inventories were down 7,550 mt to 5,064,250 mt. HSBC will release China’s manufacturing PMI final reading...
Alcoa and U.S. Department of Energy officials yesterday commissioned the $110 million modernization project at Cheoah Dam in Robbinsville, NC, one of four hydroelectric dams that make up Alcoa Power Generating Inc.'s Tapoco Project. The modernization effort has increased the dam's efficiency and energy output and increased the life of the facility by at least another 40-50 years. (Pictured L to R): Paul Tran, APGI Hydro Modernization Engineer; Erik Mauer, Department of Energy Wind & Water Power Program Senior Engineer; Matthew Hess, Department of Energy Renewable Energy Technologies Project Officer; Sheree Haus, Alcoa Contracts Manager, ATC; and Mark Gross, APGI Hydro Operations Manager stand in front of Tapoco's Cheoah Dam in North Carolina. The representatives from Alcoa and the...
Global unwrought aluminum inventories at the end of August were down 28,000 mt from July and down 153,000 mt from August 2011, according to figures released Wednesday by the International Aluminium Institute. Unwrought inventories totaled 1.330 million mt at the end of August, down from 1.358 million mt in July and down from 1.483 million mt at the end of August 2011. Total aluminum inventories at the end of August were up 46,000 mt at 2.390 million mt, from 2.344 million mt in July, but were down 271,000 mt from 2.661 million mt the same month a year earlier, the IAI said.
Supporters of Ormet Corp. have delivered a 156-page petition with 2,566 signatures to Gov. John Kasich’s office, asking him to intervene to help the aluminum smelter avoid layoffs tied to a recent electricity-rate increase. Ormet, located near Hannibal, has warned that most of its roughly 1,000 workers might lose their jobs unless the company can find a way to mitigate the $20?million increase in annual electricity charges from American Electric Power. “Enclosed are the signatures of hardworking employees, both hourly and salary of Ormet Corp., their family members, friends, neighbors and concerned citizens of the surrounding communities,” said the cover letter from Tom Byers, an Ormet employee and president of the local United Steelworkers union. “Ormet is by far the largest employer and...
Dropping 1.7 percent on the LME, the aluminum cash price was the biggest mover on MetalMiner’s aluminum price index on Sept. 25, 2012, closing at $2,058 per metric ton. The aluminum 3-month price on the LME has been on the decline for 7 days and is now at $2,076 per metric ton. After falling for two days, the cash price of primary Indian aluminum rose 1 percent. Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap saw little movement, and Chinese aluminum billet stayed flat. The price of Chinese aluminum bar was unchanged, and the cash price of Chinese aluminum held steady.
Dubai Aluminium DUBAL the wholly state-owned corporation that operates a one million metric tonne per annum primary aluminium smelter, one of the world's largest single-site smelters and the largest using pre-bake anode technology is proud to announce that it is a lead sponsor of the World Energy Forum 2012 WEF 2012, which will take place at Dubai World Trade Centre from 22 to 24 October this year. The event, held under the patronage of H H Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai and hosted by the government of Dubai, marks the first time that this high-level international energy conference will take place outside the headquarters of the United Nations. Recognizing that access to sustainable energy is a paramount issue for all...
Alcoa (AA), the largest U.S. aluminum producer, and Queensland Nitrates are the first to get free carbon permits from Australia through an A$8.6 billion ($8.9 billion) program to help businesses facing global competition. The companies are getting permits under the Jobs and Competitiveness Program, according to a statement today from Australia’s Clean Energy Regulator. Businesses such as aluminum smelters and steelmakers, which face constraints in their ability to pass through costs in global markets, can apply for free units over three years, according to the regulator. “These applicants have received around 6.37 million free carbon units which companies can now sell back to the government, transfer, or use to acquit their future liability under the carbon pricing mechanism,” Chloe...
Aid to Spain and Greece met resistance, aggravating the debt crisis in the euro zone. The downbeat US new home sales for August also added to concerns. In this context, risk aversion grew, pushing the US dollar index up to 80 and weighing down commodities. LME aluminum lacked upward momentum in European session and dropped to USD 2,062.8/mt. LME aluminum only managed to regain some losses at the tail of trading before finally ending the day down USD 20/mt or 0.95% to close at USD 2,080/mt. Latest LME aluminum inventories were down 8,925 mt to 5,071,800 mt. Investors will scramble to exit the market as the slump of the Shanghai Composite Index below 2,000 points for the first time in three and a half years dampened market confidence. LME aluminum should test support at the 20-day moving...
Aluminum ingot production reached 140,100 tons during March 20-August 21, announced a senior official of the Ministry of Industries, Mines, and Trade. Mohammad Fatemian also said that alumina powder output rose to 91,200 tons, IRNA reported. He added that cathode copper output reached 93,600 tons while iron ore production rose to 13.3 million tons. "Coal concentrate output reached 398,600 tons during March 20-Aug. 21." Aluminum is considered as one of base metals which oxidize, tarnish or corrode relatively easily when exposed to air or moisture. Base metals are widely used in commercial and industrial applications. They are more abundant in nature and therefore far cheaper than precious metals such as gold, silver and platinum. Other base metals include copper, lead, nickel, tin and...
A western Kentucky aluminum smelter involved in a rate dispute with Big Rivers Electric Corp. says it plans to purchase power on the open market. State Rep. Tommy Thompson told the Messenger-Inquirer on Friday that Century Aluminum Co., which employs more than 700 workers in the region, had sent the notice to Big Rivers. Century gave a 12-month notice to end the contract with Big Rivers for its Hawesville smelter on Aug. 20. The company said at that point that it wasn't obligated to continue operating the plant but was looking at options to keep it open. Company officials say they can keep the smelter open with the right economic circumstances. Big Rivers officials have said they are already exploring options for selling the large amount of power used by Century to other power companies,...
The state Public Service Commission on Monday asked for additional detail on its Consumer Advocate Division's counter-proposal in Century Aluminum's special power rate case. The head of the division said he hoped this was a sign the commission was giving thought to alternatives to the controversial proposal Century officials have offered. "The optimist in me says they're sincerely considering my proposal," Byron Harris said. "But the realist in me says they may be just trying to clarify the details of our proposal." The commission asked Monday for more clarification on how Harris' plan would use up to $20 million in annual tax credits designed to lower Century's power bill. Century wants the PSC to approve a special rate plan to help it reopen the Ravenswood plant, which shut down in 2009...
For the first time in its history, the German aluminium concern Trimet has reported a loss. Despite full order books, the Essen-based company posted a loss of €44.4m for the business year ended 30 July, the company said on Friday. A year earlier, the Trimet group reported earnings of €32.6m. The decrease in earnings in the 2011/12 financial year could be traced chiefly to electricity supply contracts closed in the wake of Japan's Fukushima catastrophe in the spring of 2011, the company said. For the current 2012/13 financial year, the concern's management is forecasting a return to profitable growth. Germany's largest primary and secondary aluminium producer generated revenues of €1.3bn for the annual reporting period, down slightly from the prior year, due to the international aluminium...
Economic confidence in Southland has plummeted since June with the threat of job losses at the Tiwai Point aluminium smelter presumed to be behind the change. The Westpac McDermott Miller regional economic confidence survey for the September quarter shows confidence in Southland has nose-dived from positive 32 per cent to negative 35 per cent. Westpac suspects the threat of job losses at the Tiwai Point aluminium smelter is behind the change. Confidence in the Otago region had fallen from negative 22 per cent three months ago to negative 26 per cent. Otago Southland Employers' Association chief executive John Scandrett said the scale of the drop was "quite unbelievable". Survey results had been tracking at a low level for some time, and generally the economic situation was quite sluggish,...
