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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United Co. Rusal (486), the world’s biggest aluminum producer, said it will hold an extraordinary shareholder meeting after a request by Sual Partners Ltd., it’s third-biggest holder, with which it’s in a legal dispute. Rusal, facing an escalating shareholder conflict over Rusal management’s decision to hold on to 25 percent of OAO GMK Norilsk Nickel, said it will hold the meeting on Aug. 3, the Moscow-based company said in a statement. Sual, owner of a 15.8 percent stake in Rusal, wrote to the aluminum producer requesting the board meet to consider amending or introducing regulation to refer related party transactions to shareholders for approval. Rusal in April hired legal counsel to advise on arbitration brought by Sual to overturn trading contracts with Glencore International Plc....
South Korea purchased a total of 6,000 tonnes of aluminium for arrivals by Sept. 20 via tenders on June 28, the state-run Public Procurement Service said on its website (www.g2b.go.kr). Details of the purchases are as follows: TONNE SUPPLIER PREMIUM(CIF/T) ORIGIN 3,000 LG International Corp $235 Non-Western 2,000 LG International Corp $240 Western 1,000 Glencore International AG $245 Western *Note: The above premiums were made over London Metal Exchange (LME) prices.
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 2.1. Noranda Aluminum is next 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 1.5, and Kaiser Aluminum rounds out the top five with a a beta of 1.2. SmarTrend recommended that its subscribers protect gains by selling shares of Alumina on February 14th, 2012 by issuing a Downtrend alert when the shares were trading at $5.01. Since that call, shares of Alumina have fallen 33.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend...
MCX Aluminium recovered earlier losses and surged by 1.1% or Rs 1.15 at Rs 104.6 per kg on Wednesday, 27th June and tested an intraday high at Rs 104.85 per kg and low at Rs 102.7 per kg. Bargain hunting with 35% rise to 6117 lots favored the metal to end with huge single day gains but found to be still below 9-day EMA with its RSI at 31.77. Aluminium is likely to find support at Rs 104 per kg and Rs 103.3 per kg and resistance at Rs 104.9 per kg and Rs 105.7 per kg. At LME, Aluminium edged down by 0.1% at $1849 per tonne on Wednesday. The looming EU summit hammered the metal but the tentative data from the US that showed rise in its housing data and durable goods orders curbed huge losses in the metal.
The most active SHFE aluminum contract for October delivery started higher at RMB 15,160/mt and settled up RMB 355/mt or 2.37% at RMB 15,360/mt, after finding its high at RMB 15,390/mt. Positions dropped 3,494 lots to 123,850 lots. SMM expects the contract to struggle at RMB 15,200/mt for the near term lacking real support. Spot aluminum was traded at RMB 15,400-15,430/mt in Shanghai, with low-iron aluminum trading at RMB 15,500-15,520/mt. The current-month contract surged some RMB 200/mt to above RMB 15,400/mt. Selling interest was strong but buying weak due to tight cash flows as well as poor demand, expanding spot discounts to RMB 30/mt and leaving trading light. The wait-and-see sentiment dominated the afternoon session as selling interest weakened amid rapidly climbing SHFE aluminum...
Pessimism in the EU Summit going on to solve the region’s debt crisis clouded overnight markets, dragging LME aluminum to a USD 33/mt or 1.76% loss when the light metal managed to recover slightly from a low of USD 1,837.3/mt to USD 1,843/mt. Aluminum was the worst performer among base metals on the London Metal Exchange. Its total positions were down 2,601 lots to 705,784 lots. Latest LME aluminum stocks added 5,575 mt to 4,844,725 mt. Metals trading should remain cautious today amid doubts on the EU stimulus package. LME aluminum is expected to be pressured at the 5-day moving average and move between USD 1,830-1,860/mt. The most active SHFE aluminum contract for October delivery should open lower near RMB 15,100/mt and may test support at RMB 15,000/mt if short selling strengthens. Its...
Aluminium futures prices rose 0.33 per cent to Rs 104.95 per kg today as speculators created fresh position in tandem with a firming global trend amid pick up in spot demand. At the Multi Commodity Exchange, aluminium for delivery in June gained 35 paise, or 0.33 per cent, to Rs 104.95 per kg, with a business volume of 298 lots. Similarly, aluminium for July contract traded higher by 20 paise, or 0.19 per cent, to Rs 106.75 per kg, with a trade volume of 138 lots. Analysts said firmness in the entire base metals pack at the London Metal Exchange (LME) and a pick-up in domestic demand, led to a rise in aluminium futures prices here. Meanwhile, at the LME aluminium rose 0.16 per cent to USD 1,875 a tonne.
Rusal’s Guyana operations could be affected as aluminum prices in Europe are tumbling. According to Rusal’s CEO Oleg Deripaska there is a small deficit since May as the market is now highly volatile. Price of aluminum globally is approximately US $ 24, 00 compared to 35 hundred before the economic crisis. Deripaska says the price has the right balance, because of supply and demand and transportation costs. Europe demonstrate stable consumption numbers however globally, last year consumption had eleven percent growth with a worldwide expectancy of about seven percent. As prices down he says there are signs that the stock is also going down. Deripaska explains that developing countries use other things such as steel but when countries are more developed they use aluminum in the different...
For aluminum market observers, 2012 has brought some interesting dynamics. Take for example prices – LME prices have hit a two-year low, while Midwest premiums have hit a high. Meanwhile China prices remain comparatively high. At the same time, lead times from LME warehouses continue to grow and have exceeded 12 months! At this year’s Harbor Aluminum conference, participants gained a much deeper understanding and appreciation for what drives aluminum markets. That has more to do with the careful skill and moderation of the program by a deep subject matter expert, Jorge Vazquez and his team of knowledgeable analysts. Participants at Harbor Aluminum conference answered a broad range of questions posed by Harbor and MetalMiner: On market speculation Do you think speculative flows play a role...
Hindalco Industries, AdityaBirla Group's flagship firm is on an aggressive drive to raise funds for its biggest Greenfield project in Odisha. The country's largest non-ferrous metals producer plans to tap about Rs 9,000 crore for the project, which is being re-configured mirroring the ambitions of its peer, Anil Agarwal's Vedanta Aluminium. "We are planning to raise up to Rs 9,000 crore for the Odisha project, but are yet to decide on the route, whether it will be a bank term borrowing or any other instrument," said one of the company officials directly involved in the exercise. Hindalco senior executives are scheduled to announce their plans at an investor meet scheduled later this week. If completed, this proposed exercise would also make the current fiscal year one of the most hectic...
Vedanta-controlled Bharat Aluminium Company (Balco) Limited had made a big leap forward to ensure raw material supply to its facility located in Korba district of Chhattisgarh. A public hearing conducted for environment clearance to company’s bauxite mine in Sarguja district was completed successfully. This would ensure the supply of major aluminium-making raw material to Balco from another 10 years. The clearances were sought for renewal of the lease that was granted to the company for the bauxite mine located in Kudaridih, Kesra and Sapnadar villages in the hills of Mainpath. Of the total lease area of 639.169 hectare, the environment clearance was sought for 353.980 hectare of area to produce 0.75 million tonne of bauxite per annum. “The public hearing was held in a peaceful manner and...
The London Metal Exchange has approved the name brand change for high grade aluminum produced by Alcoa Inc (AA) in Australia. The exchange approved the name brand change of "Alcoa of Australia" to "PTH-ALCOA" under the High Grade Primary Aluminium contract.
Bree’s Resources and Energy June Quarterly forecasts significant growth in export values for iron ore, gold, thermal coal, liquefied natural gas, copper and alumina. With the exception of aluminium, export volumes for all major minerals and energy commodities are predicted to increase. Alumina is expected to rise 15%, metallurgical and thermal coal 13% each and iron ore and copper both 10%. Economic growth across a number of major economies, including China, is assumed to slow in 2012, relative to 2011, but increase in 2013. A lower assumed value of the Australian dollar against the US dollar in 2012-13 will also support increases in the value of Australia's resources and energy exports, the Bureau said. The Bureau’s executive director, Professor Quentin Grafton, said predicted increases...
A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still have executed more than a pre-determined percentage above or below the price of the most recent automated execution today. London Stock Exchange (LSE: LSE.L - news) electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction execution which will set today's closing price.
As part of its CSR activities, National Aluminium Company Limited (Nalco) has provided assistance to the fire victims of Basoi village under Parjang block, in Dhenkanal district. The Periphery Development Cell of Nalco Corporate Office distributed 1000 GCI Sheets worth Rs. 10 lakh, to the 469 affected families yesterday. On behalf of the company, Shri D.N. Nayak, Shri R.K. Behera and P. Acharya coordinated the distribution.
Aluminium Bahrain (Alba) has announced the appointment of Dr Talaat Dafer Abdulla Aldafer Alqahtani - representing Sabic Industrial Investments Company (Sabic) - to its board of directors. Dr Alqahtani's appointment comes following the resignation of Homood Abdulla Al Tuwaijri (who represented Sabic) from the board, said a statement from Alba on Tuesday. Commenting on the new appointment, Alba’s chairman of the board, Mahmood Hashim Al-Kooheji said, "I congratulate Dr Alqahtani on being appointed by Sabic as one of their representatives on the Alba board. He brings with him considerable experience and exposure to regional business dynamics, and we are confident that Alba will benefit richly from his contribution." "We wish him every success and welcome him as a member of Alba’s Board," he...
The most active SHFE aluminum contract for October delivery started lower at RMB 15,060/mt and settled down RMB 110/mt or 0.73% at RMB 15,060/mt, rebounding from a new two-year low of RMB 14,925/mt as shorts took profits. Positions added 6,236 lots to 127,344 lots. Transacted contracts broke through 180,000 lots and hit an 8-month high amid strong shorting. The contract is expected to struggle at the RMB 15,000/mt mark in the near term awaiting direction of the EU Summit. Spot aluminum was traded at RMB 15,210-15,280/mt in Shanghai, with low-iron aluminum trading at RMB 15,360-15,380/mt. Spot prices slipped more than RMB 300/mt after the current-month contract lost support at RMB 16,200/mt. The selling interest was strong but buying interest weak, so trading was extremely light....
LME aluminum dipped to a fresh two-year low of USD 1,832.5/mt overnight, and rebounded later amid better-than-expected US durable goods orders and pending home sales, hitting a high of USD 1,879/mt and settling up USD 28/mt or 1.52% at USD 1,876/mt. Latest LME aluminum stocks were down 10,825 mt at 4,839,150 mt. Trading should remain cautious today as investors doubt support from the coming EU Summit. LME aluminum is expected to struggle at the 5-day moving average and move between USD 1,850-1,880/mt. The most active SHFE aluminum contract for October delivery is expected to start higher near RMB 15,300/mt and will remain under the 5-day moving average due to strong resistance there. Its trading band should be RMB 15,100-15,380/mt. The spot market sentiment remains slightly bearish. The...
