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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U.S. aluminum premiums inched higher Friday to another all-time record as supply remains tight. Midwest P1020 spot premiums rose to 11 to 11.5 cents per pound Friday from 11 to 11.4 cents previously, with some traders reporting deals for immediate delivery as high as 12 cents per pound. U.S. supply remains constrained as producers struggle with high costs and low aluminum prices on the London Metal Exchange, and large amounts of inventories remain locked in LME-registered warehouses due to financing deals incentivized by the contango in the market. While nearby aluminum spreads have slipped into a backwardation recently, this won’t be enough to bring an end to financing deals and cause a rapid release of metal, market players told AMM. While global LME aluminum stocks dipped to 4.866...
The cash price of primary Indian aluminum saw a 1.9 percent increase on Sept. 6, 2012, making it the biggest mover for the day on our aluminum price index. The LME aluminum 3-month price changed direction with a 0.4 percent drop. After two days of improving prices, the metal finished at $1,940 per metric ton. The cash price of primary aluminum steadied at $1,928 per metric ton following two days of increases on the LME. Chinese aluminum prices were mixed for the day. Closing out a three-day flat streak, the price of Chinese aluminum billet moved up 0.3 percent. The Chinese aluminum cash price ended a two-day climb, settling below $2,500 per metric ton. The price of Chinese aluminum scrap remained essentially flat above $2,000 per metric ton. The price of Chinese aluminum bar saw...
The week’s biggest mover on the weekly Aluminum MMI was the cash price of primary Indian aluminum, which saw a 5.7 percent increase. This week marked the third in a row of rising prices for the metal on our aluminum price index. The primary aluminum cash price rose 3 percent on the LME over the past week to $1,928 per metric ton. The aluminum 3-month price shifted up 2.3 percent on the LME to close at $1,940 per metric ton this week. Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum shifted up 0.4 percent. The price of Chinese aluminum billet increased by a slight 0.3 percent over the past week, while Chinese aluminum bar prices held steady from the previous week above $2,200 per metric ton. Following a steady week, prices for Korean 3003 coil premium...
A term premium of $255 per tonne for primary aluminium shipments to Japan has been agreed in at least one deal for the October-December quarter, a trader said on Friday, outpacing a third quarter record by nearly 24 percent. In June, aluminium buyers in Japan, Asia's biggest importer of the metal, had agreed on a record high physical premium of $200-$210 per tonne for the July-September quarter after global smelters cut output. "We have settled at $255 per tonne for a deal of a very small volume," the trader said, adding that talks were continuing on other deals. "We hope to be able to settle at lower prices for other deals." Traders are looking to lock in fourth-quarter supplies at a premium of around $250 to $253 per tonne, two industry sources said this week. Although bracing for a...
Nalco and NMDC have gained 6% and 2% in market value, respectively, after the government announced plans to divest 12% stake in the former and 10% stake in the latter. But the euphoria may well be short-lived as both these stocks are already trading at significant premiums to their private sector peers. And given the concerns in the sectors that they operate in — aluminum and iron ore — there is little room for further appreciation. As part of the finance ministry's plans to raise Rs 30,000 crore in the current financial year through disinvestment, the government has invited merchant bankers and brokers to sell part of its stakes in Nalco and NMDC. Though the pricing of the issues are not known, at current market valuations, a 12% stake sale in Nalco would earn the government Rs 1,625...
The European physical aluminium market remained quiet with market participants spending much of the week debating the premium level at which a Rusal tender for 3,000 mt of primary metal was concluded. "There's not a lot of business, that's the reality," one trader said. He added that he had not taken part in the recent Rusal tender but said that he expected the price would have been concluded around the current spot market premium level. A consumer said that he had entered a bid for the Rusal tender but was informed that he had not been successful. "We were bidding but with no success. They are still deciding whether they are going to publish the winning price," the consumer said. A second trader said that he had bid for the material but had also not been successful. "My understanding is...
The Government's being told be more proactive when it comes to the row between state owned Meridian Energy and the owners of the Tiwai Point aluminium smelter. Aluminium prices are at a 25-year low and smelter owners Rio Tinto have already announced 100 job layoffs. Around 900 people directly rely on the smelter which pumps half a billion dollars into the local economy every year. Invercargill mayor Tim Shadbolt's urging the Government not to forget the deep south. "It's ridiculous that a third of our population live in one city and the only thing that keeps people living down here, or one of the major things, is the smelter." Mr Shadbolt's says the indication that 100 jobs could go is not the end of it. "It'd also have a major impact on our port of course because shipping the bauxite in...
Century Aluminum says it's reviewing a plan offered by West Virginia regulators as part of the quest to restart Century's Jackson County smelter. The state Public Service Commission ruled Thursday that Century's Ravenswood plant could pay a special rate for electricity for up to 10 years. That rate would hinge on aluminum prices. But Century would ultimately remain on the hook for the actual energy costs. Stronger aluminum prices would make it much easier for Century to cover those costs. Appalachian Power would provide the electricity. Utility officials say they're still reviewing the decision, but consider its approach a reasonable plan of action. Both companies commented Friday. The smelter shut down in 2009, throwing more than 650 people out of work. Retirees later lost their health...
Alcoa Inc., which kicks off the earnings season Tuesday, is expected to barely eke out a profit of a penny per share, setting the stage for a disappointing round of quarterly reports. The world's largest aluminum maker, which feeds into many parts of the economy, from beverage cans to buildings, cars and airplanes, earned 15 cents a share in the year-earlier third quarter. The projected showing for the most recent period would represent a steeper decline than is expected overall for the Standard & Poor's 500-stock index, where third-quarter earnings are expected to drop more than 2%, compared with 2011, according to Thomson Reuters data. Alcoa's sales are expected to fall 13% to $5.6 billion. Pittsburgh-based Alcoa has seen prices fall industrywide as a result of global oversupply...
Both parties to negotiations over electricity prices for the Rio Tinto-owned aluminium smelter near Bluff say there is no truth to reports that state-owned electricity producer Meridian Energy has abandoned the talks. "We haven't walked away from anything," Meridian spokeswoman Claire Shaw says in response to media reports and statements from trade unions urging government intervention to save the smelter and bring down the high value of the New Zealand dollar, which is hurting exporters. The local Rio unit, New Zealand Aluminium Smelters, also confirmed negotiations are continuing. The call for government intervention from the Engineering, Printing and Manufacturing Union coincides with a push by opposition parties – Labour, the Greens, and New Zealand First – for changes to the way...
Dubai Aluminium (DUBAL), one of the world's largest single site aluminum smelters and the industrial flagship of the United Arab Emirates, has selected SunGard's AvantGard Treasury (Quantum) for treasury management and hedge accounting. The solution will also help DUBAL manage foreign exchange, interest rate and commodity risk. Moving from a spreadsheet driven environment to an automated integrated solution will allow DUBAL to efficiently manage, control and report on all of its treasury activities while helping provide increased transparency, enhanced data integrity and improved integration with internal systems. SunGard's AvantGard Treasury (Quantum) will complement DUBAL's enterprise-wide risk management initiative through integration with SAP Exposure Management for the identification...
According to the US Labor Department, the US nonfarm payrolls increased by a seasonally adjusted 96,000 jobs in August, far lower than forecasts, raising market expectations for easing monetary policy in the Fed interest rate meeting due on September 12. In this context, the US dollar index dived to 80. LME aluminum broke through USD 2,000/mt to a high of USD 2,034 /mt, the highest since May 22. Trading volumes hit more than 20,000 lots, but positions increased by a mere 3,152 lots. LME aluminum pared some gains at the tail of trading before finally ending the day up USD 45/mt or 2.28% to close at USD 2,019.5/mt. Latest LME aluminum inventories were up 5,025 mt to 4,871,425 mt. Aluminum prices will extend gains on Monday, as weak economic data in China and the US has raised expectations...
SmarTrend identified a Downtrend for Aluminum of China on May 4th, 2012 at $11.52. In approximately 4 months, Aluminum of China has returned 19.58% as of today's recent price of $9.26. In the past 52 weeks, shares of Aluminum of China have traded between the current low of $9.26 and a high of $15.88 and are now at $9.26. The 200-day and 50-day moving averages have moved 0.3% lower and 0.39% lower over the past week, respectively. Aluminum Corporation of China Limited is a producer of alumina and primary aluminum in China. The Company refines bauxite into alumina and smelts alumina to produce primary aluminum. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Aluminum of China. Log in and add...
Century Aluminum shares have crossed bullishly above their 10-day moving average of $6.30 on a volume of 479K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term. 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. Century Aluminum (NASDAQ:CENX) has potential upside of 12.3% based on a current price of $6.50 and analysts' consensus price target of $7.30. The stock should find...
Shares of state-owned National Aluminium Company (NALCO) gained as much as 4.6% intraday on Friday after the CNBC-TV18 reported that the government is going to sell 12.15% stake in the company. The Department of divestment has invited merchant bankers for the process of follow-on public offer. At 10:40 hours IST, the share was trading at Rs 51.10, up 3.02% after hitting an intraday high of Rs 51.90 and low of Rs 50.20. Even its trading volumes increased 58% to 21,063 shares as compared to its 5-day average of 13,307 shares. Market capitalisation of the company currently stands at Rs 13,169.69 crore.
Effective Monday, Sept. 10, U.S. Aluminum, currently located at 4841 Lakawana Street in Dallas, will move into the first combined C.R. Laurence/ U.S. Aluminum Service Center located at 2080 Lone Star Drive. "To better serve all of our CRL and U.S. Aluminum customers in the greater Dallas-Fort Worth metroplex area, we have combined both product lines into one [Dallas] service center in order to provide you with comprehensive local access to all CRL and U.S. Aluminum products," CRL officials said in a statement. Ezequiel Gonzalez, service center manager for U.S. Aluminum products, and Ryan Umphrey, service center manager for CRL products, and their crews will service the greater Dallas area.
Johor police sprang into action after receiving a tip-off and recovered two trailers containing aluminium alloy ingots stolen from a factory in the Tebrau Industrial Estate here last Thursday. At a press conference at the state police contingent in Johor Baru recently, state police chief Datuk Mokhtar Shariff said police also arrested five suspects and seized a car during the operation. The seized items were worth RM1 million. Mokhtar said police made their first arrest and seized the trailers within 45 minutes of being informed of the incident, which was reported at 10.26pm. A police multi-purpose vehicle (MPV) on patrol spotted one of the trailers at Taman Setia Indah, and the driver was ordered to stop the trailer. Instead, the driver sped away, and the police gave chase. After a brief...
Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL) will jointly participate at the 27th International Aluminium Conference in Moscow to promote UAE’s primary aluminium sector role within the global industry. The conference is organised and hosted by Metal Bulletin from 12 to 14 of the current month (“MBI 2012”). DUBAL and EMAL will have a combined stand in the exhibition component alongside the conference, besides they are the joint Platinum Sponsors of the overall event and the MBI 2012 Registration Desk. Yousuf Bastaki, EMAL’s Vice President: Projects, is also among the line-up of speakers. Touted as the premier international forum for understanding industry dynamics and uncovering market potential, the annual MBI events attract 500-plus key industry decision-makers from around the...
