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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Sterlite Industries India Limited announced the production of Vedanta Aluminium. During Q1, Lanjigarh refinery produced 218,000 tonnes of alumina with bauxite from BALCO and third party purchases. Aluminium production at Jharsuguda was 11% higher at 124,000 tonnes as compared with corresponding prior quarter. The cost of production at VAL in Q1 was INR 100,020 per tonne compared with INR 104,853 per tonne in the corresponding prior quarter lower by 5 % in Rupee terms due to higher production and better operational efficiencies. EBITDA was adversely impacted by INR 100 crore on account of interest differential as per AS 16 and INR 80 crore of mark to market loss on creditors and loans due to foreign exchange fluctuation. EBITDA excluding these items was INR 263 crore. Aluminium premiums...
The only potential suitor for Alcoa's Italian smelter has broken off talks with the government, labour unions said on Wednesday, putting hundreds of jobs at risk. The U.S. aluminium company had planned to close its Portovesme smelter on the island of Sardinia by mid-year as part of efforts to cut global output and costs. Following strong objections from Italian authorities, Alcoa agreed in March to keep the smelter running for a further two months while it looked for buyers. But the only interested party, German hedge fund Aurelius, pulled out of talks with the government after failing to present a viable industrial plan, the FIM CISL metalworkers union said. The government has asked Alcoa to consider further offers and further extend the deadline for shutting the smelter, the union said...
Dubai Aluminium (DUBAL), the state-owned corporation that operates the world's largest single-site smelter using pre-bake anode technology, has again extended a hand of kindness to the less privileged in Dubai. Some 1,800 gift bags were prepared in advance; and then presented on 22 July 2012 to the labourers employed by the 44 contractors and sub-contractors working on DUBAL's Jebel Ali site, thereby demonstrating the Ramadan spirit of purification through charitable deeds. The annual initiative, entitled "Bring-A-Smile", was again fully funded by DUBAL at a cost in excess of dhs142,000. Each labourer received a cooler backpack, which not only served as a handy carry-all for a range of items but will also be useful for keeping food and water cool in the heat of the summer. Having first...
The Arab International Aluminium Conference (Arabal 2012), which be held in Doha 20th - 22nd November 2012, has received sponsorship from Saudi Arabian Mining Company (Maaden), Aluminium Bahrain (Alba), and Sohar Aluminium Company in addition to a number of regional and international aluminium companies, including HATCH, FATA, Kuwait Industries Company Holding, ABB, and WAHL. This collective sponsorship and the increasing interest reflects the importance of Arabal, which is the premier trade event for the Middle East's aluminium industry and the only conference in the world attended by every single primary aluminium manufacturer in the region. Therefore, it is the conference of choice for anyone interested in the Middle East aluminium industry. The total production of aluminium smelters...
It is learned that the annual production of 80 thousand tons aluminum fluoride project of Chenzhou Hongyuan Chemical Co., Ltd which is the subsidiary of SINOCHEM LANTIAN will put into production soon. SINOCHEM LANTIAN is the holding company of SINOCHEM Group, the aluminum fluoride project is located at Yizhang County, Chenzhou City, Hunan, mating annual production of vitriol is 200 thousand tons, 13 thousand tons for other kinds of fluoride salt. The advantages: equipped with rich fluorite resource and self-built sulphuric acid plant, imported international advanced production technology, the product quality can reach or above national aluminum fluoride AF-0 quality standard, convenient transportation and logistics since the railway special line contect Jingguang railway directly. On the...
On July 31, 2012, Standard & Poor's Ratings Services raised its ratings, including its corporate credit and senior unsecured debt ratings, on Los Angeles-based Reliance Steel & Aluminum Co. to 'BBB' from 'BBB-.' The rating outlook is stable. Here is an overview from the Standard & Poor's Ratings Services: • We expect Reliance Steel & Aluminum Co. to continue generating margins in the 8% to 10% area while maintaining a conservative financial policy that allows it to comfortably weather market volatility. • We are raising our ratings on Reliance Steel, including the corporate credit and senior unsecured debt ratings, to 'BBB' from 'BBB-.' • At the same time, we are removing all of the ratings from CreditWatch, where we placed them with positive implications on April 17, 2012. • The stable...
With a 1.5 percent increase over the past day, the cash price of primary aluminum was the biggest mover on the LME, closing at $1,893 per metric ton on July 30, 2012. On the LME, the 3-month price of aluminum saw little movement on Monday at $1,897 per metric ton. The Indian aluminum cash price saw a 0.8 percent decline yesterday. Chinese aluminum closed mixed on Monday. The price of Chinese aluminum scrap fell 0.8 percent. Chinese aluminum billet stayed flat just south of $2,500 per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat above $2,200 per metric ton. Following a two-day rise, the cash price of Chinese aluminum flattened above $2,400.
Bosnian aluminium producer Aluminij Mostar will cut production by 12.5% with immediate effect, due to high electricity costs and low aluminium prices, and may cut production further in September, it said in a statement on Thursday July 26, Metal Bulletin reported. "The decision was made unanimously, due to the extremely difficult situation that Aluminij has been facing, entirely because of too high electricity prices and the lowest metal prices in the history of this smelter, [when] considering the prices of raw materials," Mostar said. The smelter stressed that it considered the initial 12.5% production capacity reduction to be "the beginning of the extensive process". The decision to shut down one part of the electrolysis cell in the Mostar electrolysis plant was expected, it added....
The markets were eyeing the interest rate meeting by the Fed and ECB overnight, raising high expectations on whether the ECB would deliver concrete measures to solve the debt crisis. The July Chicago PMI index and CCI by the Conference Board released later beat forecasts. However, Germany rejected draft measures granting ESM a banking license, adding resistance to the liquidity of the aid fund, causing commodities to pare gains seen earlier in the morning. LME aluminum fell back after touching a high of USD 1,912/mt during the European trading session. It later met strong resistance at the 30-day moving average before finally closing at USD 1,889/mt, down USD 9.5/mt or 0.50%. Latest LME aluminum inventories surged 46,575 mt to 4,886,725 mt. Markets expect China’s manufacturing PMI data...
A Westren Australia-style gas reservation policy should be adopted by the rest of the nation, one of the country's biggest trade unions says. The mining state's former premier Alan Carpenter introduced the policy in late 2006, requiring 15 per cent of gas from offshore projects to be set aside for domestic use, although it is imposed on a case-by-case basis. The Australian Workers' Union (AWU) on Wednesday says the federal government should introduce a similar policy on a national scale, saying it would be critical to securing the future power needs of the energy-intensive aluminium industry. AWU national secretary Paul Howes says energy costs represent about 20 to 30 per cent of an aluminium smelter's running costs. "That's why access to competitively priced energy is so crucial to the...
Two units of the captive power plant of the state-run National Aluminium Company Ltd (NALCO) in Odisha collapsed on Tuesday due to the failure of Eastern Grid, a company official said. The power plant of the company at Angul, about 161 km from in Bhubaneswar, has eight running units. Six units managed to survive, the company official told IANS. NALCO's captive power at Damanjodi in Koraput district also faced some disruption, he added. Most parts of Odisha remained without electricity for at least two hours after the grid failure, state energy minister Aatanu Sabyasachi told reporters. He said the government however managed to restore the supply in less than three hours drawing excess electricity from state's hydro-power generation stations. Due to the power failure, train services in...
Indian miner Vedanta Resources' total aluminium production was up 7% for the first quarter of its 2013 financial year at 185,000 mt, from 173,000 mt in the previous quarter, the company said Tuesday. "Production at the Jharsuguda-I 500,000 mt smelter was 11% higher at 124,000 mt. The BALCO-II smelter was stable and produced 60,000 mt," the company said. Vedanta's 1 million mt/year Lanjigarh alumina refinery produced 218,000 mt of alumina in Q1, down 3% from the 224,000 mt it produced in Q4. Earnings before interest, taxes, depreciation, and amortization for aluminium in Q1 were lower at $49.3 million, down 52% compared to $101.9 million in the previous quarter. Vedanta said the lower earnings were due to a 24% fall in LME aluminium prices, a $25 million mark-to-market loss on foreign...
It is reported that Chinalco’s large-sized aluminium sheet project has been completed. After coming into operation, the products will be mainly supplied to domestic large airplanes which can fill in the gap of domestic ultra-wide and ultra-thick aluminium alloy sheet. According to a Chinalco’s management, Chinalco has been building its ultra-size aluminium sheet production lines in its subsidiaries such as Southwest Aluminium and Northeast Light Alloy Co., Ltd. Billions of money was invested and the products will be mainly supplied to domestic airplanes. Besides, part of the products will be used in machinery and shipbuilding. It is known that aluminium products used in large airplanes should be ultra long, wide and thick, especially for fuselage. The fuselage needs stretch panel with...
ABB, the power and automation technology group, has won orders worth around $24m from Ma'aden Aluminium Company (MAC) to execute a fast-track transmission substation project in the Northeast of the country. The orders were booked in the second quarter. ABB will design, engineer and supply a new 380 kilovolt (kV) outdoor gas-insulated switchgear (GIS) substation at the Ras Al Khair power plant that will export 800 megawatt (MW) of power from the plant to the national transmission grid and feed a new aluminium smelter. The project is scheduled for completion within ten months. "This substation will enhance power capacity and improve quality and reliability of supply for critical processes and sustained productivity at the new aluminium plant," said Oleg Aleinikov, head of ABB's Substations...
Aluminium yesterday traded with the positive node and settled 0.1% up at 103.55 as rebound in euro and the far-better-than-expected GDP in 2Q in the US supported the prices. It was reported euro zone countries and European central bank plan to intervene the financial market to help lower loan costs of Spain and Italy. German Chancellor Angela Merkel and French President Hollande stated they will protect the euro zone as possible as they can. Besides, US Commerce Department announced US GDP during 2Q was 1.5%, compared to the 1% estimated, while the increase during 1Q was 2.0%. That indicated that both US consumer and government spending during 2Q fell, and US economic growth is in the face of downturn risk. United States Geological Survey (USGS) report has said that US primary Aluminium...
On July 27, 2012, the day’s biggest mover was the LME aluminum cash price, which saw a 1.4 percent increase to $1,865 per metric ton. On the LME, the 3-month price of aluminum increased 1.4 percent to $1,897 per metric ton. The cash price of primary Indian aluminum changed direction with a 0.8 percent drop after two days of improving prices. Chinese aluminum closed mixed last Friday. Chinese aluminum billet prices rose 1.3 percent, and the cash price of Chinese aluminum finished the market day up 0.5 percent per metric ton. Chinese aluminum scrap stayed flat at above $2,000 per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at $2,200 per metric ton.
The Fed and ECB will hold interest rate meeting later this week, raising expectations for loose policies again. Investors stayed cautious ahead of the soon-to-be-released important economic data form China and the US, causing LME aluminum to move narrowly overnight. LME found support at the 5-day moving average and met resistance at USD 1,900/mt. Trading volumes failed to increase significantly. LME aluminum shed USD 4.5/mt or .024% to finish at USD 1,898.5/mt. Latest LME aluminum inventories dropped by 475 mt to 4,840,150 mt. Investors are cautious ahead of the meeting in the Europe and the US. LME aluminum should struggle at USD 1,900/mt, with prices within USD 1,885-1,910/mt. SHFE three-month aluminum prices should open at RMB 15,450/mt on Tuesday and move between RMB 15,400-15,500/mt,...
Industrial metals such as copper, Aluminium and nickel are sensitive to changes in the global economic cycle, because of their uses in construction and manufacturing. So, as expectations for economic growth in Europe, China and the US have been scaled down, prices have fallen to the lowest in years. Aluminium, used to build aircraft, cars and to make fizzy drinks cans, has tumbled 20 per cent since March and at $1,899 a tonne on Monday was close to its lowest since late 2009. Nickel, used to make stainless steel, has fallen 30 per cent since February to touch a three-year low of $15,450 a tonne. Even iron ore, a favourite of commodity bulls, has fallen 22 per cent since April. For some time, traders and investors have been trying to pick the bottom of some of the markets. According to...
