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
One of today's stocks on the move is Century Aluminum (NASDAQ:CENX), up 3.0% to $7.55. The Dow is up 0.5% to 12,701 and the S&P is currently up 0.7% to 1,340. In the past 52 weeks, shares of Century Aluminum have traded between a low of $7.25 and a high of $16.55 and are now at $7.55, which is 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has slid 0.8%. 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...
Alcoa AA -1.09% announced today that Ron Barin has been elected a Vice President and an officer of the company. He is also Chief Investment Officer, Pension Investments, overseeing the investment of $15 billion of assets for Alcoa's retirement benefits plans and the Alcoa Foundation. "Ron's election as an officer of the company recognizes the important contributions he has made to support Alcoa's success," said Alcoa Chief Financial Officer Chuck McLane. "It also reflects our confidence in his ability to make great contributions in the future." Barin joined Alcoa in 2008 as Assistant Treasurer and an assistant officer of the company with responsibility for the company's pension plan investments. Previously, he was Senior Director, Pension Investments for Pfizer Inc., and also had served...
Noranda Aluminum Holding (NYSE: NOR) shares are moving higher following disclosure of an insider trade made recently. According to a Form 4 with the U.S. SEC, director Carl Rickertsen bought 20,000 shares on the open market in a direct transaction for $8.4 per share, or $168,000 total. The transaction was made on May 15, 2012. The filing shows Rickertsen holding 20,000 shares directly following the transaction. Noranda is up about 4 percent early.
Iran is expected to produce 1.5 million tons of aluminum by the end of 'Vision 2025', said the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Vajihollah Jafari added the figure will exceed 400,000 tons in the current Iranian year (started March 20). He said to attain this capacity, Alumina Mine's 100,000-ton aluminum production project (North Khorasan province), the 276,000-ton South Aluminum plan and the 375,000-ton Khuzestan Aluminum scheme will be implemented, IRNA?reported on Tuesday. Noting that Iran's aluminum production has improved by four ranks since 2005, he said Iran is expected to improve its global position by eight ranks to occupy the 14th position by the end of the Fifth Five-Year Development Economic Plan (2010-15). He said...
The European Central Bank confirmed Wednesday suspension of refinancing operations at some Greek banks. Uncertainty from Greece weighed on global financial markets. The US dollar index closed up for a seven trading day at 81.573, near the high of this year. Later, the US delivered better-than-expected April new housing starts and industrial output, but provided limited support. LME aluminum dropped to USD 2,007.5/mt in the beginning, recording a new low of this year, but settled up USD 11/mt or 0.54% at USD 2,035/mt, in contrast with losses of other base metals, supported by bargain hunting. While the aluminum market has shown stability, the market sentiment is still much bearish, which will drag down aluminum prices. LME aluminum is expected to move between USD 2,010-2,045/mt as it tests...
There is a huge demand supply gap in the prevailing aluminium market according to Metal Statistics. The global aluminum market was in a surplus by 384,000 metric tons between January and March, the World Bureau of Metal Statistics said Wednesday. This compares with a 1.81 million ton surplus in all of 2011, it added. Overall, global primary aluminum production rose 5.5% on the year in the first quarter while global primary aluminum demand rose 6.1% on the year during the same period. Supply and demand tonnage figures weren't disclosed. Total reported primary aluminum stocks reached 7.22 million tons as of the end of March compared with 7.0 million tons at the end of 2011. The March-end figure equates to just under 62 days of demand, WBMS said. Of that total, stocks held in the four...
Restarting the company's plant in Ravenswood remains a priority, according to a company official. The company is committed to working with Appalachian Power Co. and state regulators to determine an electricity rate for the plant that will allow it to resume operations, said Lindsey Berryhill. The annual cost of electricity has risen substantially since the plant was closed in February 2009, she said. She told the Parkersburg News and Sentinel the company is proposing a special rate that would be adjusted quarterly based on the global price of aluminum. West Virginia Public Service Commission officials said last week that they will have to determine how much Appalachian Power will charge Century Aluminum for electrical service for the plant.
Kolberg-Pioneer, Inc. (KPI-JCI) recently hosted representatives of the world’s largest aluminum producer, RUSAL, as the company inspected the KPI-JCI SuperStacker it purchased for use in aluminum mines in Guinea (Western Africa). Dmitriy Dvoynin, head of RUSAL International Alumina Division procurement department, and Deputy Head of Frigia Port in Conakry Igor Poroshin, visited the Yankton factory in March to review purchased equipment and undergo training. Poroshin will use the KPI-JCI SuperStacker at the Guinea operation to load hydrate, or raw material for aluminum production, to vessels at port. RUSAL’s main products are primary aluminum, aluminum alloys, foil and alumina. The company operates in 19 countries on 5 continents. Bruce Viau, international sales coordinator for...
UC Rusal, the world's largest aluminum producer, boosted aluminum output 3.5% year-on-year to 1.049 million tonnes in the first quarter of 2012, the company said in a statement. However, "in response to continued uncertainty in the global economy, Rusal is currently considering the curtailment of 300,000-600,000 tonnes of high-cost smelting capacity starting from the second half of 2012, with corresponding alumina production to be possibly idled in order to achieve the production capacity balance," it said. A company presentation for investors says that the drop in output over eighteen months could lead to the shutting-down of capacity, which will not be revived. Earlier, company management said that a contraction would likely affect the company's plants located in the European part of...
Alcoa Iceland is looking into the possibility of enlarging the Alcoa Fjaroaal aluminium smelter in Reyoarfjorour, east Iceland, inviting representatives of pension funds to see whether they might help fund the project, Iceland Review reported. Alcoa is preparing to increase electricity capacity in the smelter, which would up its production capacity from 350,000 to 370,000 tons per year. The pot rooms must be modified and the project is estimated to cost more than $96 million (€73 million). Magnus Þor Asmundsson, CEO of Alcoa Iceland, said the company is also prepared to launch constructions which would increase the smelter’s production capacity by 180,000 tons, provided agreements are reached on funding and electricity purchase. The smelter would then produce 550,000 tons annually. The...
ALUMINIUM ENDED FLAT AT MCX AND LME DATE: 16/05/2012 Aluminium ended flat at R 108.05 per kg on Tuesday, 15th May and tested an intraday high of R 108.45 perr kg and low at 107.5 per kg. The open interest fell by 1% to 2605 lots and found to be trading below 9-day EMA with its RSI at 36.6. There was no major movements seen n aluminium from last three days trading in range bound between R 108.4 per kg and R 107.5 per kg. Aluminum was finding strong support at R 107.1per kg. Also, at LME, Aluminium ended flat at $2020.5 per tonne on Wednesday amidst the mounting political concerns in Greece. But, the improvement in the GDP growth of Germany curbed huge losses in the metal. Meanwhile, Chinese Aluminium production fell by 2% to 1.537 million tonnes in April 2012 on m-o-m basis while it rose...
Greece will hold a new election after attempts to build a new government failed. Moody’s cut its ratings for several Italian banks, adding to worries towards European debt. The U.S. delivered mixed economic data overnight, driving up risk aversion and in turn the US dollar to 81. LME aluminum only closed down USD 2/mt or 0.1% at USD 2,024/mt overnight, though, as profit-taking by shorts, which led to a plunge of some 30,000 lots of positions, helped it rebound for several times. The light metal slipped to USD 2,017/mt, only USD 1/mt higher than the new low this year, and only hit USD 2,034.3/mt due to resistance at the 5-day moving average. The market sentiment remains slightly bearish given lasting worries towards European debt, weakness in the global economy and sluggish demand. The US...
Iran's aluminum production capacity will reach 1.5 million tons by the end of the 20-Year Vision Plan, according to Vajihollah Jafari, deputy minister of industry, mining and trade and Head of Iranian Mining and Mineral Industries Development and Renovation Organization (IMIDRO). 1391/02/24 - 10:30 Jafari, quoted by IMIDRO Public Relations Department, said Iran’s aluminum production will exceed 400,000 tons this year. He said to hit the target, his Organization will impelment projects including one for production of 100,000 tons of aluminum, the 276,000-ton South Aluminum project as well as the 375,000-ton Khuzestan Aluminum project. The official said that Iran’s ranking in production of aluminum has risen by four steps since 2005 and the position is expected to go further up to the 14th...
Alcoa is to invest $75 million in Québec in 2012. Alcoa Canada Global Primary Products (GPP Canada) will spend roughly $75M in the communities of Bécancour, Deschambault and Baie-Comeau, the three locations where it operates smelters. GPP Canada plans to allocate about $62M designed to maintain its operations and to reduce costs. These include the modernisation of Baie-Comeau’s port facilities, the refurbishment of a transformer also in Baie-Comeau, an amperage increase project at its smelter in Deschambault, and a major reconstruction of the baking furnaces of the carbon division of the Bécancour facility. The company will also be investing about $10M in projects designed to improve occupational health and safety, the environment, and energy efficiency. “These investments are in...
Brazilian President Dilma Rousseff plans to cut and simplify taxes for electricity producers and distributors, two senior officials told Reuters, as part of a strategy to reduce Brazil's high business costs and stimulate its struggling economy. Electricity prices are a big component of the so-called "Brazil cost" - the mix of taxes, high interest rates, labor costs, infrastructure bottlenecks, and other issues that have caused the economy to become less competitive. After a decade of strong performance, Brazil grew below the Latin American average in 2011 and so far this year. Brazil's average electricity cost of $180 per megawatt hour is exceeded only by Italy and Slovakia, the Getulio Vargas Foundation, a private think-tank, said in a 2011 study based on data from the International...
Arak, Markazi prov, May 16, IRNA – The Second Iran International Aluminum Conference ‘IIAC2012’ opened here on Tuesday and will continue for two days. Secretary of the conference, Mohammad Reza Abu-Talebi told the inaugural ceremony that the First National Seminar on aluminum industry was held successfully in Tehran in 2004. The first round of Iran International Aluminum Conference was held in Tehran in 2009, he said, adding that the second edition is underway in Arak, the first producer of aluminum in the Middle East, with the motto of ‘Effort for Development of Aluminum Industry’. Determining the share of aluminum in national production, forging a link between the industry and state and international universities and promoting the industry are among the objectives of the conference, he...
In trading on Tuesday, shares of Noranda Aluminum Holding Corp entered into oversold territory, changing hands as low as $8.06 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of Noranda Aluminum Holding Corp, the RSI reading has hit 28.3 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 31.9, the RSI of Spot Gold is at 21.5, and the RSI of Spot Silver is presently 21.7. A bullish investor could look at NOR’s 28.3 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look...
Khalifa University announced today that it has signed a Memorandum of Understanding (MoU) with Dubai Aluminum (DUBAL). The MoU will see Khalifa University and DUBAL cooperate in a variety of activities, including student sponsorships and internships, collaborative research projects, training and professional development and technical support. The MoU signing was attended by senior officials from both Khalifa University and DUBAL. “The relationship between Khalifa University and DUBAL will hopefully prove to be a long lasting and mutually beneficial one, as we work together to pursue our common interests,” said Dr. Tod Laursen, Khalifa University’s President. “Khalifa University is dedicated to providing excellent opportunities for our students and faculty to conduct rewarding research...
