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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Amid early strong interest rate cut expectations, the PBOC announced Thursday evening to cut one-year deposit and loan benchmark rates by 0.25 percentage point, boosting market confidence. During European trading, LME aluminum got over early weakness and climbed with other metals, breaking through the 5-day moving average and touching a high of USD 2001/mt. However, Fed President did not imply easing monetary policy as market expected, that, coupled with Fitch Ratings’ three-level cut on Spain’s credit ratings, rekindled worries towards the global economy, eroding most of LME aluminum’s early gains. The light metal eventually closed at USD 1,988/mt, up USD 7/mt or 0.35%, Total positions surged 13,917 lots to 739,794 lots. Latest LME aluminum stocks plunged 28,750 mt to 4,875,375 mt....
The cash price of primary Chinese aluminum saw a 0.4 percent drop on June 6, 2012, making it the biggest mover of the day on global aluminum markets. Chinese aluminum billet ended the day after a 0.2 percent drop yesterday. The price of Chinese aluminum bar held steady at above $2,200 per metric ton. Chinese aluminum scrap stayed flat at below $2,600 per metric ton. Wednesday saw Indian aluminum cash price drift down 0.3 percent after a couple of stagnant days. On the LME, the 3-month price of aluminum showed little movement yesterday, hovering around $1,979 per metric ton. The cash price of primary aluminum remained essentially flat on the LME at $1,936 per metric ton.
Ormet Corp. posted a $1.1 million net loss for the first three months of 2012, but company officials spent $1.9 million during this time to reline 22 pots at the Primary Aluminum Reduction Plant. As Ormet gears up for the future, the company continues dealing with costs related to the restart of Ormet's Burnside, La., alumina facility, though President and Chief Executive Officer Mike Tanchuk said operations there are coming into place. With eyes focused on the future, Tanchuk and other Ormet leaders are now looking at the possibility of making joint investments with Trafigura, one of the world's leading commodity traders, specializing in the oil, minerals and metals markets, with 81 offices in 54 countries. "To be successful, Ormet must grow smartly while we continue to focus on our...
Rio Tinto Alcan has awarded two contracts to Fives Solios for its Kitimat brownfield smelter, in British Columbia, Canada. The first contract for the Green Anode Plant consists of the supply of a complete mixing line including the preheating screw, the IMC (Intensive Mixing Cascade), two Xelios, the anodes cooling tunnel as well as the integration of a pitch fume treatment system. A new plant will be built adjacent to the existing one and connected by an air conveyor to convey dry materials to the new mixing line. The Green Anode Plant will have a production capacity of 42t/h. The second contract includes the design and supply of three 100t capacity tilting Melting and Holding furnaces with the associated launder systems. The furnaces will be equipped with siphon metal transfer systems,...
Aluminium Bahrain BSC (ALBH) will spend $2.5 billion by 2015 to increase output, betting prices of the metal will rebound from a 30 percent slump in the past year that’s forcing U.S. and European rivals to shutter plants. Alba, as the company is known, plans to invest the money on adding a potline to produce 400,000 metric tons a year, boosting total capacity by about 30 percent to 1.3 million tons, Schmitt said. It will also include power generation for the development. The producer is seeking to begin a feasibility study before the end of the year and is in discussions with the Bahraini government over allocating energy to the development, he said. Alba is among Middle East producers able to rely on cheap energy to buck a global trend of shrinking output of the metal. Emirates Aluminium...
Aluminium ended flat at 1986 per tonne Thursday. Investors got cheered by the successful bond auction and fall in US jobless claims on one side and China's reserve rewuiement which raised the concerns on its sluggish growth economic scenario coupled with Fed signaling no further stimulus on other side pressurized the metal. The sequrntial decline in LME aluminium inventories that fell by 28750 tonnes to 4875375 tonnes curbed huge losses in the metal. Aluminium remained unchanged at Rs 108.4 per on Thursday, 7th June at MCX and tested an intraday high of Rs 108.75 per kg and low of Rs 107.6 per kg. The rise in its open interest to 2103 lots restricted the metal from its fall. The contract traded below 9-day EMA and was still found to be on oversold region with its RSI at 29.7. Aluminium...
According to the news on 5th, June, China aluminum capacity will be more than 50 million tons in 2015 said by Ren Xiaoling, senior management from Chinese aluminum processing department. From 2011 to 2015, there will be an increasing of 20 million tons in aluminum processing industry.
Noranda Aluminum crossed over its 10-day moving average of $7.73 on a volume of 137K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term. Noranda Aluminum share prices have moved between a 52-week high of $15.50 and a 52-week low of $6.29 and are now trading 29% above that low price at $8.11 per share. The 200-day and 50-day moving averages have moved 0.52% lower and 2.04% lower over the past week, respectively. Noranda Aluminum has overhead space with shares priced $8.11, or 39.9% below the average consensus analyst price target of $13.50. The stock should find initial resistance at its 50-day moving average (MA) of $9.27 and further resistance at its 200-day MA of $9.56. Noranda Aluminum Holding...
Europe is actively seeking a rescue plan for Spain’s troubled banks. In the downturn of the global economy, China and the United States may launch a stimulus to boost investor confidence. Under this nice anticipation, the US dollar index fell sharply overnight to nearly 82. During European trading, though stocks and other base metals presented strong rebounds, LME aluminum’s performance was weak, only touching a high of USD 1,994/mt with strong pressure at the 5-day moving average. It dropped sharply to USD 1965/mt, a fresh low this year, but recovered to settle up USD 9/mt or 0.46% at USD 1,981/mt. Latest LME aluminum decreased 13,075 mt to 4,904,125 mt. Aluminum is exhibiting a technical rebound after falling for several days. LME aluminum is expected to see its bottom up a little and...
Production at Tajikistan's state-owned aluminium smelter, the largest in former Soviet Central Asia, fell by 7.4 percent year-on-year in the first five months of 2012 after an extensive plant revamp, a source close to the company's management said. Tajikistan Aluminium Company, or TALCO, produced 122,338 tonnes of the metal in January-May 2012 versus 132,058 tonnes in the same five months last year, the source, who declined to be named, told Reuters on Thursday. The main reason for the decline was lower monthly production rates in early 2012 as the smelter ramped up output following a modernisation programme completed toward the end of last year. A 15-day stoppage of Uzbek gas supplies also hit output in April. The smelter's production is crucial to the economy of Tajikistan, the poorest...
Aluminium was the only metal that dropped by 0.2% or Rs 0.25 at Rs 108.4 per kg on Wednesday, 6th June and tested an intraday high at Rs 109.75 per kg and low at Rs 107.7 per kg. The open interest also dipped by 15% to 2033 lots and pulled down the metal. Aluminium obtained few gains during the last two sessions but the fell earsing the previous session gains. The contract traded below 9-day EMA and found to be in oversold region with its RSI at 29.7. Aluminium was finding strong support at Rs 108 per kg and Rs 107.5 per kg and resistance at Rs 109.2 per kg and Rs 109.5 per kg on Thursday, 7th June. At LME, Aluminium buoyed by 0.3% at $1984.5 per tonne on Wednesday as the improved risk appetite in global economy helped the metal to end with modest gains. The supply tightening in the...
Nalco Foundation, the CSR arm of National Aluminium Company Limited is playing its part of Corporate Social Responsibility in Odisha. The company has signed MoUs with Kalinga Institute of Social Sciences (KISS), Koraput Development Foundation (KDF) and Bikash Vidyalaya, for full sponsoring education of children from the Periphery villages of Damanjodi in Koraput from this academic year, covering their expenses on school fee, lodging, boarding and other expenses. The MoUs were signed by Shri K N Ravindra, Secertary, NF on behalf of Nalco Foundation with Dr Achuta Samanta, Founder and Chief of KIIT on behalf of KISS, Smt Sulohita Purohit, Secretary on behalf of KDF and Shri Rama Prasad Sahu, Secretary on behalf of Bikash Vidyalaya, in the presence of Shri B.L.Bagra, CMD, other Directors,...
Efforts to bring an aluminum plant to Jackson County could mean an increase in your electric bill. Right now, state leaders are working a deal between Century Aluminum and Appalachian Power, but the arrangement could leave you footing the bill. "It adds up! so I think it is out of the question," Hazel Lambert of Bluefield said. For Mercer County resident Hazel Lambert--- an extra 2 to 12 dollars added to her electric bill just isn't in the budget... and that is how much extra you could be spending if a proposal passes to reopen Century Aluminum in Jackson County. If the proposal passes, counties all over the state would be responsible for paying the electric bill for Century Aluminum. The extra charge would be dependent on the price of aluminum. So when the global price is high Century...
CQ University economist Professor John Rolfe said a rising Australian dollar was just one factor affecting Gladstone's aluminium sector. "The Australian dollar puts businesses under a bit of pressure and the fact that other aluminium plants are downsizing before Gladstone suggests there's more competition in the area," Professor Rolfe said. "The competition suggests Gladstone's industry is more resilient than some other businesses in Australia, which is very comforting." Professor Rolfe also hinted the Federal Government's introduction of the carbon tax next month will impact Gladstone's aluminium market. "What they have done is develop an offsetting measure for the alumina sector. Alumina is in the export industry and is very trade exposed, so there needs to be interim measures (imposed...
Orbite Aluminae Inc is pleased to announce the start of its exploratory drilling campaign aimed at upgrading its resources and developing new exploitation zones. It also announces that it has filed a new patent application in the U.S. In addition, Richard Boudreault, President and CEO of Orbite, will make a guest presentation on alumina procurement at the International Aluminum & Power Conference, to be held in June in Montreal, Quebec. Finally, on invitation by the Honourable Ed Fast, Canada's Minister of International Trade, Orbite management is currently part of a trade mission to the Russian Federation to pursue new business opportunities.
The aluminum industry on the Indian subcontinent is a highly concentrated sector with five prominent players catering to the majority of the country’s aluminum production. The country has been witnessing growing demand for aluminum in the domestic market accounting for an enviable growth in the sector. The forecast for 2012 global production of aluminum is 42 million tonne to 45 million tonnes driven by rising Chinese output. Both market and non market forces have equally affected the aluminum industry for almost two decades. It is anticipated that the value of the global aluminum market in 2012 will reach USD 112.3 billion. The per capita consumption of aluminum metal in India is less than 1 kilogram whereas it’s estimated to be 25 to 30 kilograms in the US and Europe, 15 kilograms in...
An uncertain global economy, a rising Australian dollar and the government's impending carbon tax is impacting the longevity of the aluminium industry in Gladstone. The region's major plants have come under strain after the market value of aluminium dropped. Stability of the sector has also been questioned following the shutdown of Hydro Aluminium's Kurri Kurri smelter in New South Wales and forced redundancies at Alcoa's Port Henry smelter in Victoria. Australian Aluminium Council Ltd Executive Director Miles Prosser said there were a number of factors that were impacting the strength of the aluminium industry. "Aluminium is at a lower price than it was 10-15 years ago." Mr Prosser said. A Boyne Smelters Limited spokesperson said the industry was facing "significant short-term...
The three companies in the Aluminum industry with the lowest Enterprise Value (EV) to Sales ratios are listed by Financial News Network Online (FNNO). EV/Sales gives investors an idea of how much it costs to buy the company's sales and the lower the ratio, the more undervalued the company is believed to be. Century Aluminum is lowest with EV/Sales of 0.52. Century Aluminum Company produces primary aluminum, in both molten and ingot form, through facilities located in the United States. The Company owns and operates a reduction facility in Ravenswood, West Virginia, and owns a partial interest in a reduction facility in Mt. Holly, South Carolina. Century is also the operating partner of a reduction facility in Hawesville, Kentucky. In the past 52 weeks, Century Aluminum share prices have...
