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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The cash price of Indian primary aluminum saw the biggest shift of the day, dropping 0.6 percent on June 15, 2012. After falling for two days, the 3-month price of aluminum rose 0.2 percent on the LME to $1,964 per metric ton. After a couple of days of decreasing prices on the LME, the cash price of primary aluminum held steady at $1,924. Chinese aluminum closed mixed last Friday. The cash price of Chinese aluminum is back up, rising by 0.1 percent, while the price of Chinese aluminum scrap was unchanged at above $2,600 per metric ton. Chinese aluminum billet stayed flat above $2,500 per metric ton, and the price of Chinese aluminum bar continues hovering above $2,200 per metric ton for the fifth day in a row.
Japanese aluminium buyers, the world's biggest importers of the metal, locked up third-quarter supply deals mostly at a physical premium of $200-$210 per tonne, a record high, after global smelters cut output, four sources directly involved in the talks said. The premiums for July-September, which act as a benchmark for Asia, represent a jump of up to 70 percent from the $121-122 paid over the London Metal Exchange cash price in the current quarter, the steepest-ever quarter-on-quarter rise. An acute shortage of supply prompted buyers to speed up settlements, said the sources, as producers cut back output, while demand from the financial sector remained strong, reducing supply of accessible metals for manufacturers. "As we needed to secure volumes, the deals were done much quicker this...
Cost pressures on China’s beleaguered aluminum industry could ease in the coming months as a number of provinces introduce power subsidies to reduce hefty electricity bills weighing on the energy-intensive sector. Plans are underway in central China’s Henan Province, which accounts for about a quarter of national production, for a subsidy of RMB 0.05 ($0.008) to RMB 0.08 ($0.013) per kilowatt hour (kWh) for aluminum smelters, including local leaders Henan Zhongfu Industrial Co. Ltd. and Jiaozuo Wanfang Aluminum Manufacturing Co. Ltd. (Wanfang Aluminum), said Li Xun, chief analyst with Myyouse.com. Aluminum is a pillar industry in the province but producers are undergoing “severe difficulties”, China Business News reported Wednesday citing a top executive at Wanfang Aluminum. “The Henan...
Base metals have closed mostly higher on the London Metal Exchange (LME), finding some support from hopes for further economic stimulus and some short-covering ahead of the weekend. At the PM kerb close on Friday, LME three-month copper was 1.2 per cent higher at $US7,510 a metric ton. Aluminum lagged the complex, closing 1.1 per cent lower at $US1,933/ton. Market sentiment was underpinned on Friday by a Reuters report that central banks are prepared for coordinated action to provide liquidity if the election in Greece over the weekend leads to market chaos. The result of Greece's election Sunday could determine whether the country stays in the euro zone. Another set of poor US economic data also fuelled expectations that the US Federal Reserve may introduce further monetary stimulus...
Interfax reported that United Company RUSAL raised aluminum shipments by rail 5.3% YoY in January to May 2012 to 1.058 million tonnes. Russian Railways said that export shipments grew 5.8% to 990,800 tonnes but domestic shipments fell 0.6% to 66,800 tonnes. Alumina shipments rose 2.8% to 3.065 million tonnes with imports up 4.8% to 2.051 million tonnes but domestic shipments falling 1.1% to 1.014 million tonnes. RZD's figures differ from Rusal's own, which are usually published later because RZD reports aluminum shipped in containers as container cargo without a breakdown for the type of cargo.
United Co. Rusal PLC (0486.HK) Executive Director Alexander Livshits has resigned effective June 15, the Russian aluminum giant said Monday, marking a second senior-management departure from the Russian aluminum producer in about three months. Mr. Livshits' resignation came after Russian billionaire Viktor Vekselberg quit March 13 following a boardroom battle with Chief Executive Oleg Deripaska--who owns around 48% of Rusal--over an investment in OAO Norilsk Nickel (GMKN.RS). The EuroNext- and Hong Kong-listed aluminum producer said in a statement that Mr. Livshits' resignation is owing to "other business commitments" and that he isn't in any disagreement with the board and that there is no other matter relating to his resignation that needs to be brought to the attention of shareholders....
A deteriorating demand outlook, suppressed market sentiment in Europe and consumption decline in China has led the domestic aluminium industry to demand for upping the import duty on aluminium to 7.5 per cent and imposition 2 per cent customs duty on aluminium scrap to insulate themselves from adverse market conditions. Already reeling under overcapacity, high input costs and rising inventories, the aluminium producers led by public sector Nalco have recently told mines secretary Vishwapati Trivedi that unless the euro zone crisis is resolved and Chinese consumption resumes, any steady upward movement in aluminium price is unlikely. Nalco CMD B L Bagra said in a communication to Trivedi that before March 2002, the customs duty on aluminium metal was 25 per cent and was reduced gradually...
The London Metal Exchange Friday said it has delisted one aluminum alloy brand, suspended one high-grade primary aluminum brand and delisted one other high-grade primary aluminum brand. The delisted aluminum alloy brand is MET-AL, produced by U.S.-based Met-Al Inc. The suspended high-grade primary aluminum brand is HYDRO U, produced by Australia-based Hydro Aluminium Kurri Kurri Pty Ltd. The delisted high-grade primary aluminum brand is RTA LYN. The LME did not state the brand's producer. The LME also announced a change of brand name for standard lead brand YT 99.99, produced by Yunnan Tin Co in China. The brand is now called YT Pb99.994.
The Greek election led to cautious shorts standing on the sidelines. Weaker-than-expected May industrial output and Michigan University Consumer Confidence Index in the US rekindled stimulus expectations on Fed. The US dollar retreated, helping commodities rebound. LME aluminum, however, failed to take on the trend as other base metals did, hitting a new 2012 low and settling down USD 18.3/mt or 0.93% at USD 1,935.3/mt to extend its losing streak into the sixth trading day. Total positions increased 4,404 lots to 739,226 lots. Latest LME aluminum stocks were down 13,375 mt at 4,847,550 mt. The possibility of a Greek euro exit has dropped and investor focus now goes to Fed stimulus expectations, which may push for a rebound of aluminum prices. LME aluminum should test pressure at the...
Last June 12, at the American Metal Market Awards ceremony held in New York, Aluminerie Alouette was awarded a major honor. This event was part of the Annual Aluminium Summit. It is with great pride that the President and CEO, André Martel, received on behalf of Aluminerie Alouette, the prize in the "Aluminium Smelter Excellence" category. "To receive this award is a great honor for all Alouette employees. In the last years, we have made remarkable progress particularly in health and safety, production, energy efficiency and environmental performance. Our continuous improvement approach and our commitment to constantly innovate have allowed us to differentiate ourselves both in the quality of our processes and our performance in general", says Mr. Martel. This distinction was awarded...
"The aluminum can in my hand will be back in the refrigerator in 60 days in the form of another aluminum can after I drink its contents and put it into a recycling bin," said Charles McLane, holding a canned drink while conducting an exclusive interview with China Daily. The words of McLane, executive vice-president and chief financial officer of Alcoa Inc, the world's largest miner of bauxite and refiner of alumina, describe how sparingly the metal has been used in an industry that has attracted huge investment enthusiasm in China, especially in western areas. Faced with a gloomy global economy, many giant aluminum businesses decided to curtail their production capacity and close down some facilities to deal with shrinking demand in the downstream market and falling prices. Rio Tinto,...
Aluminium prices rose by 0.14 per cent to Rs 107.85 per kg in the futures market today in line with a firming trend in base metals at the London Metal Exchange and a pick-up in domestic demand at spot markets. At the Multi Commodity Exchange, aluminium for delivery in June rose by 15 paise, or 0.14 per cent, to Rs 107.85 per kg, with a turnover of 393 lots. The metal for July delivery rose by a similar margin to trade at Rs 109.05 per kg, with a turnover of 18 lots. Globally, aluminum gained 0.5 per cent to USD 1,963 per tonne at the London Metal Exchange (LME). Market analysts attributed the rise in aluminium futures to rising spot demand and a firming trend in global markets on hopes that global policy makers will take steps to counter Europe's debt crisis and slowing growth.
Norway-based aluminium producer Norsk Hydro has sold 1.5 billion crowns ($250.80 million) worth of bonds with maturity on July 5, 2019 and a coupon rate of 5.40 percent, it said. "There was considerable interest for the new issue. As previously announced, the purpose of the bond issue is general corporate purposes," it added. Danske Markets and DNB Markets acted as joint managers. ($1 = 5.9808 Norwegian crowns)
The aluminum 3-month price dropped 0.2 percent on the LME to close at $1,961 per metric ton on June 14, 2012. The LME aluminum cash price weakened by 0.1 percent, settling at $1,923 per metric ton. The cash price of primary Indian aluminum saw little movement on Thursday, closing out below $2 per kilogram. Chinese aluminum cash prices fell 0.2 percent while the price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining below $2,600 per metric ton. The price of Chinese aluminum billet held steady at above $2,500 per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat above $2,200 per metric ton. The week’s biggest mover on the weekly Aluminum MMI® was the aluminum 3-month price, which saw a 0.9 percent...
The government has initiated the process of 10 per cent stake sale in National Aluminium Company Ltd (NALCO) which may fetch the exchequer an estimated Rs 12,000 crore. “Disinvestment Department has moved a cabinet note for 10 per cent stake sale in NALCO. It will come up before the CCEA soon,” a top official told PTI. The official further said the company is also considering to come out with a fresh issue of shares. The Department of Disinvestment, which comes under the Ministry of Finance, had earlier made a reference to the Ministry of Mines to consider disinvestment of 10 per cent equity. The government currently holds 87.15 per cent stake in NALCO. As per the current market price of Rs 58 a share, a 10 per cent stake divestment could help government rake in over Rs 12,000 crore from...
Fitch Ratings has affirmed aluminium manufacturer China Hongqiao Group Limited's (Hongqiao) Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at 'BB'. The Outlook is Positive. Fitch has also affirmed Hongqiao's senior unsecured rating at 'BB'. The ratings are currently constrained by uncertainty over long-term alumina supply following the Indonesian bauxite export ban announced in May 2012. As a result, Fitch has not upgraded Hongqiao despite its 2011 performance exceeding the agency's expectations. Hongqiao's main alumina supplier, Gaoxin Aluminium and Power, sources all of its bauxite from Indonesia. Due to regulatory uncertainty in Indonesia which resulted in the May 2012 ban, Hongqiao in Q411 started building in phases its own two million tonnes per annum (mtpa)...
Dropping 0.9 percent on the LME, the cash price of primary aluminum was the biggest mover on June 13, 2012, closing at $1,925 per metric ton. Also on the LME, the 3-month price of aluminum declined 0.8 percent to $1,965 per metric ton. The cash price of primary Indian aluminum changed direction with a 0.5 percent drop. Meanwhile, Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum closed in the mid-$2,000s per metric ton; following a couple days of improvement, prices fell by 0.9 percent. The price of Chinese aluminum scrap, aluminum billet and aluminum bar saw little movement.
Asian aluminum premiums are expected to continue on their recent upward trajectory during the third quarter of the year due to supply constraints, market participants said Thursday. London Metal Exchange prices are below production costs for many smelters, making further cutbacks likely, and large volumes of metal are moving into long-term financing deals, adding up to tight supply and further increases in premiums, market participants said. Asian premiums have soared this year even as demand remained mostly muted. Third-quarter Japanese contract premiums, an Asian benchmark, settled earlier in June at $200-$210 a metric ton, a sharp increase from $115-127/ton for the second quarter. "I see a lot more upside for premiums during the third quarter," one producer who supplies Asian markets...
