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 week’s biggest mover on the weekly Aluminum MMI® was the aluminum cash price, which saw a 2.4 percent increase on the LME to $1,872 per metric ton. The aluminum 3-month price rose 1.5 percent on the LME this week, closing out the third week at $1,896 per metric ton. The cash price of primary Indian aluminum shifted up 1.2 percent this week. Chinese aluminum prices were mixed, however. Chinese aluminum billet finished the week with a 0.3 percent increase. The cash price of Chinese aluminum shifted up 0.1 percent. Holding north of $2,200 per metric ton, the price of Chinese aluminum bar did not change since the previous week. Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat. Prices for Korean 5052 coil premium over 1050 sheet remained constant,...
Commodity trading and mining group Glencore has expressed an interest in taking over Alcoa's aluminium plant on the island of Sardinia, Italy's industry ministry said on Friday. "The Swiss multinational (Glencore) confirmed its interest in discussing the Alcoa question, asking for clarifications about the general conditions, like the energy costs, infrastructure and environmental issues," the ministry said in a statement issued after officials met with the company and local labout representatives. However, Glencore said it would provide its assessment in a week's time, according to the statement and another meeting would be held on Sept. 5. "It would be premature to say a deal is about to happen," said a source familiar with the talks. Glencore, which next week faces a crucial shareholder...
The GCC region’s aluminium industry can make significant gains if production costs can be reduced by containing energy expense, Qatalum says. This will help the industry maintain the highest quality standards in production, meet the requirements of improved competitiveness and enter new markets, it said. The aluminium industry requires intensive investment and high technical and technological levels, Qatalum said. The industry can never be separated from modern technology for all phases of manufacturing and production, as the acquisition and constant update of high-tech methods of production are key to the possession of advanced production capacity and better ability to produce high quality products that are highly competitive in overseas markets. These concerns are the basis of the plans...
Aluminium maker Alcoa said Saturday it had began to close down its plant on the island of Sardinia in a move that will see hundreds of job losses. Alcoa blamed "factors beyond our control" including "the economic situation and the burdens imposed by the European regulatory system" for the shutdown of the factory, which it said would take several weeks. "Alcoa should be ashamed of not leaving the necessary time to find a solution, particularly as there is now an offer from a Swiss society," the CGIL trade union said, after a week of protests over the factory's fate. Swiss multinational Glencore is considering buying the plant and Alcoa said it was shutting down the foundry on the Italian island in a manner which would ensure "the concrete possibility to reboot it" should an offer be made...
US Federal Reserve Chairman Bernanke said in central bank meeting last Friday that US unemployment rate remained high and the Fed would take measures to help economic recovery if necessary. Expectations for easing policies remain. In response, LME aluminum broke through USD 1,900/mt to a high of USD 1,904/mt at the tail of trading. Investors were wary as the specific time when stimulus policies will be introduced remains unknown due to mixed economic data. Finally, LME aluminum trimmed some gains and was pressured under the 5-day moving average before closing at USD 1,892.3/mt, up USD 13/mt or 0.69%. Latest LME aluminum inventories were down 8,900 mt to 4,870,050 mt. China’s PMI for August hit nine-month low at 49.2, which pointed to contraction, aggravating economic downward risks and...
Japan's domestic shipments of auto diecasting aluminum alloy slipped 2.2% month on month to 38,784 mt in July, despite a 3.3% gain in total alloy shipments to 70,322 mt, the Japan Aluminium Alloy Refiners Association said Thursday. On a year-on-year basis, July ADC shipments were up 2.7%, while total alloy shipments were up 5.2% -- largely due to a lower base last year due to plant shutdowns following the March 11 earthquake. Shoji Matsunaga, an official with the association, told Platts that July ADC shipments fell compared to June as secondary aluminum alloy smelters focused on producing alloy for molding applications, known as AC. July shipments of AC came in at 19,044 mt, up from 16,597 mt a month ago. "There was a shift to AC production from ADC as AC alloys are not exposed to...
Vimetco reports that sales for the half year were USD 1,180 million (H1 2011: USD 1,382 million). The decrease mainly reflected lower aluminium prices, accompanied by weaker demand. In the first half of 2012, the cost of goods sold decreased by approximately 10% to USD 1,053 million, from USD 1,176 million during H1 2011. Despite the lower sales volume, Vimetco had a positive EBIT of USD 80 million, in H1 2012, down from USD 167 million in H1 2011. The net finance costs increased to USD 233 million, in the first half of this year, up from USD 88 million, in H1 2011, with total interest expenses of USD 112 million, increasing from USD 88 million, in the first half of the previous year. Please also see note 7 in the half-year accounts. The Group's financial result was also impacted by the...
PSI Metals Non Ferrous has announced that it will be showcasing production management solutions designed for the metal industry at the “ALUMINIUM 2012” industrial fair to be held in Düsseldorf, Germany. The company’s PSImetals solution helps companies that deal with production and processing of aluminium to optimize their production processes. Solutions for energy management, which form a significant part of the production management solution, are also being presented. The PSImetals solution helps in optimizing normal objectives including output, efficiency and ability to meet delivery dates. Apart from these objectives, the critical energy cost factor has also been integrated from procurement stages through to production management, which will lead to significant savings. PSI Metals...
First Aluminium Nigeria Plc failed to present its financial results for 2012 (first and second quarter results) during the company’s presentation of facts behind the figures held at NSE Wednesday. Stockbrokers who were present at the occasion lamented the lack of financial statements from the company stressing that financial results provide a basis by which its performance would be judged. Although they commended the company for coming to meet with operators of the capital market, they said the presentation of financial reports would further enhance the fate of the company at the market. The company had in its results for the year ended December 30, 2011, recorded a gross profit of N324 million, compared to N629 million in 2010. Its turnover stood at N8.79 billion in 2011, as against...
Chinese firms plan to invest $8.6 billion on aluminum and iron smelter projects in Indonesia, the industry minister said on Thursday, in a bid to guarantee supplies of metals under threat from a ban on exports of mineral ores from 2014. Indonesia, a major supplier of metal ores to top consumer China, is trying to drive investment in the metal processing sector by imposing a 20 percent tax on raw ore exports ahead of an outright ban. China is the largest consumer and producer of aluminum and Indonesia supplied almost 80 percent of the 25 million tonnes of bauxite it bought in the first half of the year. However, imports from Indonesia slumped in June in July, after the tax was imposed. The planned investment appears to be the biggest to date by Chinese firms in Indonesia's metal processing...
Workers from a threatened Alcoa Inc aluminum plant in Sardinia staged a loud protest in Rome on Thursday to pressure the Italian government to intervene to keep the factory open. "We want to live with dignity," said worker Renato Cocco. "We want to work and earn our living for ourselves, for our children and for our families." Protesters draped in colourful flags beat the ground with their hard hats and chanted slogans, a line of police separating them from the ministry of economic development. "We cannot accept that our region dies," union leader Daniela Piras said. "We want the Italian government to assume their responsibility and not give up on this aluminum plant." U.S.-based Alcoa plans to close the loss-making factory by November unless a buyer is found. The only interested suitor,...
India's aluminum exports could rise 5 percent in the current fiscal year to 325,000 tonnes, despite a slowdown in global demand, a senior industry official said, as falling prices have led rival global producers to cut production. Declining aluminum prices have forced major players such as Alcoa (AA.N) and Norsk Hydro (NHY.OL) to cut output and have prompted China, the world's largest consumer of the metal, and Japan to ramp up purchases. "Due to the sudden closure of some of the smelters in the U.S.A., the export demand has slightly improved," Mukesh Kumar, president of Vedanta Aluminum Ltd, India's largest aluminum producer, said in an interview. Vedanta Aluminum, a part of billionaire Anil Agarwal-controlled Vedanta Group (VED.L), produces about 40 percent of the South Asian nation's...
The mines ministry on Thursday has given Anshuman Das, commercial director of Nalco, additional charge as chairman and managing director of the state-run company. After taking charge of Nalco, Das said his job will be to prioritize projects. "We will take up a proposed Rs 16,000 crore aluminium smelter project at Sundergarh in Orissa and Rs 4,000 crore alumina refinery at Gujarat on fast track. We also have to remove disruptions in coal supply for smelter operations and revamp logistics of Damanjodi. The greenfield mining project at Patangi will also be expedited which will boost performance of our smelter and coal complex," Das told ET. Das has graduated in mechanical engineering from Rourkela engineering college (now National Institute of Technology) in Odisha and has done his master in...
All eyes are now on the West Virginia Public Service Commission to make a decision in the electricity rate case for Century Aluminum. Thousands of pages of testimony, letters of protest and most recently reply briefs from the five parties to the case have been filed since May. The Ravenswood smelter, which closed in 2009 and eliminated 650 jobs along with health care for its retirees, has been in rate negotiations to reopen that plant. The West Virginia Legislature passed a new bill in March to allow a severance tax credit for coal mined to restart the plant, and the company started rate negotiations with Appalachian Power. When those fell through, Century's potential proposal was presented to the PSC in May. From Jan. 1, 2011 to Aug. 28, 2012, the PSC has received 119 letters in protest...
The government's plans to link Australia's emissions trading scheme to Europe have been attacked by the chairmen of two of Australia's biggest carbon polluters. John Hannagan, chairman of the Australian arm of the world's largest aluminium producer, Rusal, said the move "simply doesn't make sense" and that instead of linking the carbon scheme to Europe, any linkage should be to our major trading partners such as China and the US. He added: "If we go with Europe, politicians in Europe can determine the price of carbon in Australia and we are handing over control of the competitiveness of our economy to bureaucrats and politicians in Europe." BlueScope Steel chairman Graham Kraehe said that the government's move to dump the controversial $15-a-tonne floor price was a "tiny step in the right...
South Korea has bought 1,000 tonnes of aluminium from Glencore International AG via a tender on Thursday, the state-run Public Procurement Service said on its website (www.g2b.go.kr). The agency bought aluminium at a premium of $230 per tonne over London Metal Exchange (LME) prices on a cost, insurance and freight (CIF) basis, it said. The product will arrive to the port of Busan by Nov. 15, it added.
Meridian Energy is reviewing what it would do with massive amounts of electricity if Southland's aluminium smelter closes. New Zealand Aluminium Smelters (NZAS), which runs the operation at Tiwai Point, near Invercargill, is now in discussions with the state- owned power company over what Meridian says are "potential changes" to their agreed wholesale contract. Those discussions are despite the fact that a contract renegotiated five years ago does not even take effect until January next year and is expected to run until 2030. There are concerns about the future of the smelter after NZAS said this month it was in a "really difficult financial situation" and was reviewing its costs. The smelter is New Zealand's largest user of power. It uses about 580 megawatts (MW) of power, a staggering...
The cash-strapped New Zealand Aluminium Smelters wants to pull its $200,000 a year sponsorship money out of the Kakapo Recovery Programme, putting the future of the endangered parrot in doubt. Tiwai Point smelter boss Ryan Cavanagh said it had stated its intention to exit the kakapo recovery partnership last week and was working closely with the Conservation Department and Forest & Bird to ensure the programme was left in a sustainable position. Mr Cavanagh said his company had previously committed to the kakapo recovery partnership through till 2015. However, the smelter was now losing money and was approaching suppliers and customers to see where it could save money. The company wanted to pull out of its kakapo recovery programme contract but if it couldn't, it would meet its...
