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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While major aluminum producers are cutting back on production to rescue slumping prices at a time of weak demand, China is pushing ahead with a major new development to produce more of the light metal in the country's western regions. Xinjiang Qiya Aluminum & Power Ltd., a subsidiary of a mid-sized privately-held southwestern smelter, on Aug. 11 commissioned one of the world's largest aluminum smelters in Xinjiang-Uighur Autonomous Region, the plant manager said Thursday in a phone interview. The plant's location in energy-rich Xinjiang, a province three times the size of France, complements billions of yuan that Beijing has poured into coal and power projects in the last three years as it seeks to anchor economic development there, in part to quell ethnic restiveness. Electricity...
UC RUSAL, the world’s largest aluminium producer, has become the lead sponsor of the XXVII Metal Bulletin International Aluminium Conference, which will take place on 12-14 September 2012 in Moscow. The Metal Bulletin Conference, the premier international aluminium event, is a leading platform for discussing and formulating strategies for the development of the industry globally. It is expected that this year’s forum will bring together more than 500 international aluminium industry executives, including representatives of Rio Tinto Alcan, Alcoa, Emirates Aluminium, Rexam Plc, AZ China, Abal, Hindalco and also the leading investment analysts in metals and mining. Particular attention of the participants of Metal Bulletin-2012 will be given to the development of the global aluminium...
The Indian aluminum cash price saw the biggest upwards shift for the day on our aluminum price index, rising 1.4 percent on Aug. 28, 2012. Following a two-day rise on the LME, the primary aluminum cash price flattened at $1,870. The 3 month price of aluminum ended a two-day climb, settling at $1,901 per metric ton on the LME. Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining above $2,000 per metric ton. The price of Chinese aluminum billet stayed north of $2,400 per metric ton. For the fifth day in a row, the price of Chinese aluminum bar kept above $2,200 per metric ton. The Chinese aluminum cash price closed above $2,400 per metric ton.
In the primary aluminium industry, carbon ranks as a major raw material. Not only is carbon used as the cathode-lining of the electrolytic reduction cells in which aluminium is extracted from alumina, but it's also the basis for the anodes suspended in the electrolytic solution. These factors underscore the rationale for the Gulf Aluminium Council (GAC) Carbon Conference, which will take place in Dubai from 2 to 5 September 2012 and has been arranged for GAC members only. The agenda will focus on the quality of raw materials used (especially in terms of impurities and sulphur content), the anode production process and the performance of the anodes in the cells. For Dubai Aluminium (Dubal) - the entirely state-owned corporation that operates the largest smelter in the Gulf region and the...
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 prioritse 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...
Markets are cautious about whether or not Federal Reserve Chairman Bernanke will signal QE3 in his speech on Friday. This is because final reading of the US 2Q GDP was upwardly revised overnight and July pending home sales index was far better than forecasts, adding hurdle to the introduction of monetary policies. As such, the US dollar index rebounded mildly, dragging down LME aluminum. LME aluminum failed to climb to USD 1,900/mt during European session. Trading volumes contracted for a second straight trading day, dragging LME aluminum to close at an intraday low of USD 1,890.3/mt, down USD 17.3/mt or 0.90%. Latest LME aluminum inventories were down 3,725 mt to 4,889,650 mt. Aluminum prices will drift lower due to a lack of direction. LME aluminum should meet resistance at USD 1,900/mt...
Below are the three companies in the Aluminum industry with the highest betas. Higher-beta stocks mean greater volatility and are therefore generally considered to be riskier but also may provide the potential for higher returns.Century Aluminum ranks highest with a a beta of 2.0. Following is Noranda Aluminum with a a beta of 1.9. Alumina ranks third highest with a a beta of 1.5. Alcoa follows with a a beta of 1.4, and Kaiser Aluminum rounds out the top five with a a beta of 1.2. SmarTrend is tracking the current trend status for Kaiser Aluminum and will alert subscribers who have KALU in their portfolio or watchlist when shares have changed trend direction.
Total world aluminum inventories in July rose by 44,000 metric tons to 2.344 million tons, according to figures released Tuesday by the International Aluminum Institute. The revised figure for world stocks in June stood at 2.300 million tons. July stocks were down 295,000 tons compared to the same month of 2011, when inventories were recorded at 2.639 million tons, the IAI said.
Ormet Chief Executive Officer Mike Tanchuk said the aluminum producer must curtail operations. American Electric Power will raise the company's electric bill by $20 million a year. In conjunction with the Worker Adjustment and Retraining Notification Act notice Ormet filed last month, Tanchuk's Tuesday announcement could eventually lead to the company laying off nearly 1,000 workers at the Hannibal Primary Aluminum Reduction Plant by the end of the year. Initially, Tanchuk said, Ormet is going to shut down two of the six potlines at the Hannibal facility as the company continues searching for alternatives to its power supply problems. The rate increase - which AEP officials acknowledge will occur while declining to confirm its amount - is the result of a recent ruling by the Public...
In a brief filed Tuesday, Century Aluminum officials said its shuttered aluminum smelter in Ravenswood "simply will not restart or operate" under a plan proposed by the Public Service Commission's Consumer Advocate Division. But if the PSC were to accept Century's special electric rate proposal, the company would profit "wildly" at the expense of other ratepayers, Byron Harris, director of the CAD, said Tuesday. "They would make approximately $34 million a year and recover all their expenses in making aluminum, and basically bear no risk at all for an investment in the plant of an initial $52 million and $5.5 million per year after that," Harris said. "That's a hefty return on a very minimum investment." Harris argued that because Century has said no to any other rate proposal but its...
On Aug. 27, 2012, the day’s biggest mover was the aluminum 3-month price, which saw a 0.7 percent increase on the LME to $1,901 per metric ton. Also on the LME, the primary aluminum cash price gained 0.5 percent to finish at $1,870 per metric ton. The Indian aluminum cash price ended a two-day climb, settling below $2 per metric ton. Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price increased 0.1 percent, while the price of Chinese aluminum scrap remained essentially flat above $2,000 per metric ton. The price of Chinese aluminum billet steadied above $2,400 per metric ton following two days of increases. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat above $2,200 per metric ton.
Tosyali Holding of Turkey is in talks to buy a stake in Kombinat Aluminijuma Podgorica AD (KAPG), a Montenegrin aluminum producer, through its local unit Toscelik Profil Ve Sac Endustrisi AS, Vecernje Novosti reported, citing unidentified people. Tosyali is negotiating with Oleg Deripaska’s En+ Group Ltd. to buy its 29.36 percent stake in the aluminum plant and may soon settle on a price that could be “significantly” lower than the 40 million euros ($50 million) that it initially asked, the report said. Tosyali Holding bought in April a steel mill in Montenegro.
Markets are eyeing Federal Reserve Chairman Bernanke’s speech due this Friday, which may signal QE3. However, mixed data of the US overnight casted doubt on whether easing policies can be introduced. Investors are awaiting bond-buying measures from ECB’s policy meeting due on September 6 to ease borrowing pressure. During the European trading session, LME aluminum regained some losses seen during Asian session. However, trading volumes and positions shrank as investors stayed guarded, capping rising momentum of LME aluminum. Finally, LME ended the day down USD 12/mt or 0.63% at USD 1,907.5/mt. Latest LME aluminum inventories were down 10,650 mt to 4,893,375 mt. Aluminum prices will fluctuate due to the strong wait-and-see mood. LME aluminum should test support at USD 1,900/mt and move...
Pressed by a downturn in metal prices, Russian aluminum giant United Co. Rusal PLC said Monday it will cut production at its less effective smelters, causing renewed strife between shareholders but gaining support from analysts. As Rusal reported a 95% drop in its first-half net profit, the EuroNext- and Hong Kong-listed aluminum company said it will cut production capacity by about 6%, or by up to 275,00 metric tons, by 2018, including 150,000 tons by the end of 2012. The company said the cut is due to the ongoing uncertainty in the global economy, high power tariffs and downturn in metal prices. The four smelters where the curtailment is planned are smaller, older and less effective than Rusal's flagship giant ones in Siberia. The company hopes to replace the mothballed capacities in...
On Aug. 24, 2012, the day’s biggest mover on our aluminum price index was the cash price of primary aluminum, which saw a 1.8 percent increase on the LME to $1,861 per metric ton. After a 1.1 percent increase, the 3-month price of aluminum finished the day on the LME at $1,888 per metric ton. The cash price of primary Indian aluminum finished the market day up 0.9 percent. Most Chinese aluminum prices were flat for the day, while billet moved. Chinese aluminum billet finished the day up 0.3 percent. The Chinese aluminum cash price flattened above $2,400 after two days of improvement. The price of Chinese aluminum scrap continues hovering around $2,000 per metric ton for the fifth day in a row. The price of Chinese aluminum bar was unchanged, holding north of $2,200 per metric ton.
Nirmal Bang has come out with its report on base metals. According to the research firm, further rise is expected in the prices of industrial metals as China announces another round of stimulus package. Industrial metals prices fell on Friday, largely tracking a volatile euro versus the dollar, but cut its losses later in the day on hopes that European policymakers were perhaps gaining an upper hand in containing the region's longstanding debt problem. Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.8 percent from last Friday, the exchange said on Friday. The positive long-term outlook for copper remains intact, Rio Tinto copper division chief Andrew Harding said on Friday. China's nickel metal and alloy imports rebounded to 13,672 tonnes in July,...
Fourth-quarter Japan aluminum contract premiums will likely settle higher compared with the third quarter as supply remains tight in Asia due to smelter cutbacks and the movement of metal into long-term financing deals, traders said Monday. Premiums to London Metal Exchange aluminum prices are expected to settle around $250 a metric ton compared with $200-210/ton for third-quarter contracts, Singapore and Tokyo-based traders told Dow Jones Newswires. Talks will start in earnest this week and conclude in mid-September, they said. None of the major suppliers to Japan have tabled firm offers yet, but producers are expected to open negotiations with offers no lower than $250/ton, the traders said. "I wouldn't be surprised by a premium of $250/ton," a Tokyo-based trader said. Some producers...
United Company Rusal Plc announces that its Board of Directors approved a long term program of gradual reduction of primary aluminium production at a number of less efficient aluminium smelters currently owned and operated by the Company. In order to maintain a competitive position in the global aluminium market, the Company is contemplating a permanent reduction of primary aluminium smelting capacity with a high relative cash cost position per tonne of primary aluminium. The Company will place under review and evaluation the feasibility of decommissioning of the following smelters (hereinafter, the "Smelters”): Bogoslovsk aluminium smelter ("BAZ”), Volkhov aluminium smelter ("VAZ”), Nadvoitsy aluminium smelter ("NAZ”) and pot rooms 3 and 4 of Phase 1 of Novokuznetsk aluminium smelter...
