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 decision on whether or not people will wind up helping to foot the bill for a Jackson County business is in the hands of the Public Service Commission. The PSC wrapped up its evidentiary hearings with Century Aluminum on Wednesday. The hearings ended on an emotional note for the Century Aluminum retirees, whose health care benefits are tied to this power agreement. Century retiree Karen Gorrell got the last word before the PSC adjourned. She said, "I'm asking you, as a West Virginia citizen, and as a lawyer, a taxpayer whoever, take that hit. Let's put this together. Get the plant open. Let's join hands together and watch that parking lot fill up. Thank you." Gorrell said their position hasn't changed. The retirees want their health benefits back. They want Century to reopen the...
On Aug. 1, 2012, the day’s biggest mover on our daily aluminum index was the cash price of primary Indian aluminum, which saw a 1.6 percent decline. After a 0.7 percent increase, the 3-month price of aluminum finished the day on the LME at $1,900 per metric ton. Also on the LME, the primary aluminum cash price increased 0.6 percent to $1,862 per metric ton. Chinese aluminum prices were mixed for the day. Wednesday saw the price of Chinese aluminum billet drift down 0.3 percent; the Chinese aluminum cash price did the same. Chinese aluminum scrap held its value on Wednesday at above $2,000 per metric ton. The price of Chinese aluminum bar saw little movement, holding above $2,200 per metric ton as well.
The government is set to take full control over aluminum producer PT Indonesia Asahan Aluminium (Inalum) and then float the company on the stock market or offer it to investors after the acquisition, Industry Minister MS Hidayat said in Jakarta on Friday. Hidayat said that official deliberations for the acquisition of the Japanese consortium’s shares in the aluminum producer would be carried out between August and September this year. “The official takeover signing is expected to take place in October. Afterwards, we are going to carry out a transition period until 2013,” Hidayat said. Hidayat said the state, through the Finance Ministry, would prepare Rp 7 trillion (US$742 million) in funds to complete the takeover. “As of now, Rp 2 trillion is available, while another Rp 5 trillion will...
Alcoa Inc said on Thursday it won a contract to supply drill pipe made of an aluminum alloy to Pennsylvania General Energy, which operates natural gas wells in the Marcellus Shale formation of Pennsylvania. The use of aluminum instead of steel, which is more common for drill pipe, will allow PGE to drill deeper and will also require less energy, the drilling company said. The announcement highlights the growing use of aluminum and aluminum alloys as a substitute for steel. Aircraft and motor vehicle manufacturers are using more aluminum, as it is as strong as steel but lighter. Alcoa said it will produce 3,500 feet of 4.5 inch drill pipe for PGE, which will allow it to extend the reach of drilling rigs on natural gas wells to about 7,500 feet. That is 1,000 feet deeper than conventional...
VHE has successfully commissioned a stub straightening machine supplied to the ALRO aluminium smelter in Romania. The machine has been designed for the 2x2 130mm stub diameter techonology in use at ALRO and completed the Performance Acceptance Test on 31 July 2012. Inward bending of anode stubs, generally known as "toe-in", is a well understood occurrence in all pre-bake aluminium smelters. The difference in linear expansion of the carbon anode and the steel yoke or spider of the anode rod at high temperatures in the reduction cell means that the yoke expands more than the anode, bending the stubs which are anchored in the anode block. Stubs become bent inwards just above the iron thimble, changing the geometry of the yoke, and stubs can no longer be correcly located in the anode holes...
The monthly Aluminum MMI registered a value of 93 in August, a decrease of 3.1 percent from 96 in July. The Aluminum MMI declined slightly more than it would have due to a change in the way aluminum scrap from China factors into the overall Aluminum MMI. The lion’s share of the decline came as a result of falling primary aluminum prices in China (as well as declining scrap prices), slightly lower European semis pricing — particularly for 1050 commercial sheet and 5083 plate — along with the primary cash price in India. “This month’s index drop would have mirrored the one-point drop we saw in the Copper MMI®, but due to a re-factoring of the aluminum scrap price within the Chinese market, the Aluminum MMI® experienced a more significant drop,” said Lisa Reisman, managing director of...
An Indonesian state enterprise is ready and willing to buy a 59 percent stake in an aluminium smelter that the current Japanese owner is being forced to sell under foreign investment laws, a government minister said on Friday. Nippon Asahan currently holds the stake in Indonesia Asahan Aluminium (Inalum), and the government, which owns the remainder of the smelter, has resisted attempts by the Japanese company to maintain its stake beyond next year. State Enterprise Minister Dahlan Iskan on Friday said state-controlled gold and nickel producer Aneka Tambang was well-placed to make the acquisition. “I am waiting for the final instruction from the government. We are ready to buy the stake,” Dahlan told reporters at the Jakarta office of Hatta Rajasa, the coordinating minister for the...
BHP Billiton's savage writedown of its US shale gas assets has raised the prospect of further billion-dollar impairments in other parts of the business, with the group's struggling aluminium operation in the spotlight before the full-year results in two weeks' time. Announcing the $US2.84 billion ($2.7bn) gas writedowns on Friday, as well as a separate $US450 million off the Nickel West nickel arm, BHP said the carrying value of all its assets would be finalised in conjunction with the August 22 results. "I was surprised it came out as early as it did," UBS resources analyst Glyn Lawcock said yesterday. "But they (BHP) argue it was required by continuous disclosure, and it is what it is." BHP watchers expect the company to emulate the lead of Rio Tinto, which in February slashed $US8.9bn...
The Gulf Aluminum Council (GAC) indicated that the overall production capacity of aluminum smelters in the Gulf Cooperation Council (GCC) could come close to 5 million tons a year by 2013 after the construction of Saudi Arabia’s Ma’aden Smelter. Quoting a report conducted by Qatar Aluminum Company, GAC said that the production capacity is divided among Aluminium Bahrain (ALBA) with 880,000 tons, Dubai Aluminum with 1,002 million tons, Sohar Aluminum with 370,000 tons, Qatar Aluminum with 600,000 tons, Emirates Aluminum with 750,000 tons, and Saudi Arabian Mining Company (Ma’aden) with 740,000 tons. The UAE, Oman, Bahrain, and Qatar are all home to some of the largest smelters in the world, Deloitte said in its report "GCC: Tomorrow’s Aluminum Powerhouse". Five smelters exist in the GCC...
The US nonfarm payrolls for July released last Friday surged 163,000, beating forecasts and boosting market confidence. As a result, the US dollar index pared early gains, down by 1.20%. LME aluminum gained more momentum for a rebound during the European trading session to touch a high of USD 1,867/mt. The US economy remains weak, dampening investors’ confidence, as its unemployment rate rose to 8.3% despite the notable increase in employees. LME aluminum met resistance at the 5-day moving average before finally closing at USD 1,858/mt, up USD 20/mt or 1.14%. Latest LME aluminum inventories were down 6,450 mt to 4,864,450 mt. The US dollar index fell to 82, supporting aluminum prices to rally. LME aluminum should struggle at USD 1,860/mt on Monday and test resistance at the 10-day moving...
Inner Mongolia Huomei Hongjun Aluminium & Electricity successfully signed a $77 million three-year pre-financing term loan through sole bookrunner BNP Paribas. The facility was oversubscribed and upsized from $70 million. The fundraising consists of a $50 million tranche maturing in December 2014 and a $27 million portion maturing in June 2015. Syndication saw the sole lead and participant SMBC commit in tranche one while Cathay United Bank, Hua Nan Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank participated in tranche two. Proceeds are to finance alumina purchase in offtake contracts.
Eurasian Natural Resources Corporation PLC announced the production of alumina and aluminium. In Q2 2012, bauxite extraction was 3.2% lower than in Q2 2011 and 4.1% higher than in Q1 2012. Alumina production decreased 8.1% versus Q2 2011 but increased 13.9% versus Q1 2012. The production problems caused by interruptions to the supply of soda ash in Q1 2012 were resolved with alumina production returning to full capacity in June 2012. Bauxite extraction decreased YoY in line with the reduced alumina production requirements. Internal consumption of alumina amounted to 120 kilo tonne representing 31.9% of total alumina production and consistent with the aluminium smelter running at its full 250 kilo tonne per annum capacity. Primary aluminium production in Q2 2012 was 62 kilo tonne with no...
Chalco has decided to extend its offer for a majority stake in Mongolia-focused coal miner SouthGobi Resources for the second time, the Chinese aluminium giant said on Thursday, in the face of stiff political opposition in Mongolia. State-controlled Chalco will extend the time for it to make a proportional takeover bid for up to 60% of the common shares of SouthGobi by another 30 days as it is still trying to obtain approval from the Mongolian government, Chalco said. "Additional time is needed to engage with the Mongolian government and review the terms and conditions of the transaction," it said in a filing with the Hong Kong stock exchange. Toronto- and Hong Kong-listed SouthGobi's shares have wilted since April, when Aluminum Corporation of China -- better known as Chalco -- announced...
U.S. metals group Aleris said on Friday it had acquired the cast house of insolvent German aluminium plant Voerde Aluminium. The sale of the cast house to an unnamed customer had been announced in May while a buyer was being sought for the separate electrolysis and anode production units at the Voerde plant. "The Voerde cast house will give the company an additional annual casting capacity of 115,000 tonnes," Aleris said. "The operation also will provide Aleris with increased manufacturing flexibility and additional finishing and recycling capability." The Voerde cast house has supplied rolling ingot and billet to Aleris for many years, Aleris added. The Voerde smelter, which produces 115,000 tonnes of aluminium annually, declared insolvency on May 4. Germany's metals industry association...
North Carolina regulators want to hear from neighbors about plans by Alcoa Inc. to cover a lake bottom to prevent a health-harming contaminant near its closed aluminum smelter from moving. The state Division of Waste Management holds a public hearing Thursday in Albemarle about plans for Alcoa to cap PCB-contaminated sediments in two areas of Badin Lake. Environmental groups have criticized the plan for not doing enough to clean the lake of PCBs. Activists want the state environment agency to require clean-up so that the fish are safe to eat. Officials have posted signs warning that catfish and large-mouth bass had elevated PCB levels.
Sterlite Industries (India) Ltd has informed BSE that the Hon''ble High Court of Madras has admitted the Petition filed by the Company in relation to the Scheme of Amalgamation and Arrangement amongst the Company, The Madras Aluminium Company Limited, Sterlite Energy Limited, Vedanta Aluminium Limited and Sesa Goa Limited and their respective Shareholders and Creditors on July 17, 2012. The returnable date fixed by the High Court for the final hearing for approval of the Scheme is August 27, 2012.
The most active SHFE 1211 contract opened lower at RMB 15,385/mt on August 1. The three-month contract failed to regain RMB 15,400/mt as contracted July China manufacturing PMI data triggered short selling. It finally closed at RMB 15,385/mt, down RMB 55/mt or 0.36%. Positions were up 1,022 lots to 95,814 lots. Weak manufacturing data raised market expectations for further loose policies. Markets are eyeing upcoming US Federal Reserve interest rate meeting, waiting for more direction. It remains to be seen whether the three-month SHFE aluminum contract will find support or meet resistance at RMB 15,400/mt. Mainstream traded prices for spot aluminum were at RMB 15,400-15,430/mt in Shanghai on August 1, with discounts at RMB 30-60/mt and low-iron aluminum traded at RMB 15,490-15,510/mt. The...
With in the S&P GSCI Enhanced Commodity Index, industrial metals returned -4.7 per cent through early June 2012. Whilst not exactly exciting, the space at least held up stronger than energy, which was down 11.1 per cent. Widespread deleveraging and a move to net speculative short positioning in response to continued fears in the eurozone have caused some analysts to revise down their short-term forecasts, with Goldman Sachs, for example, reducing its three-month forecast for copper from USD9,000/mt to USD8,000/mt. As the Goldman Sachs team wrote in their Commodity Watch report on 11 June 2012, despite reducing their near-term forecasts their base case is still for solid upside on a three-month basis in aluminium (+11 per cent) and copper (+10 per cent). The house view is even more...
