The London Metal Exchange (LME) aluminium price chart reported declines on the November 10 trading session after a temporary surge at the November 9 close. Both near-term and longer-dated contracts posted over 1 per cent dip over the previous session. The LME aluminium cash bid as well as offer prices contracted 0.32 per cent day-on-day on November 10. The bid shifted from USD 3,145 per tonne to USD 3,135 per tonne. The offer price dipped from USD 3,147 per tonne to USD 3,137 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 1.11 per cent decline from USD 3,059 per tonne on November 9 to USD 3,025 per tonne on...
Futures: SHFE aluminium closed at RMB 23,170 per tonne in the daytime session (down 0.22 per cent), moving sideways. Prices barely held above the MA5 (23,111) but were capped by the MA10 (23,199) and MA30 (23,352), with the bearish alignment of moving averages unchanged. The MACD formed a golden cross below the zero axis (DIF -132.31, DEA -150.30), with the red histogram expanding to 35.98, but trading volume shrank sharply to 43,600 lots, and the volume-price divergence limited the rebound height. The core trading range for SHFE aluminium is suggested at 22,900-23,400. LME aluminium closed at USD 3,082 per tonne (up 0.31 per cent). Prices held above the MA5 (3,063.8), MA10 (3,072.5), and MA30 (3,068.4), but remained capped by the MA60 (3,166.4), in a weak recovery phase within the...
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United Co. Rusal (486), the world’s largest aluminum producer, is still looking at the possibility of closing smelters as prices decline. “Decisions have not been made yet,” Vladislav Soloviev, Rusal’s first deputy chief executive officer, said today in the southern Chinese city of Shenzhen. “We’re still thinking what kind of smelters, which regions, could be closed.” Aluminum for three-month delivery has declined 24 percent on the London Metal Exchange in the past 12 months. The metal averaged $2,219 a metric ton on the LME in the first quarter, 12 percent less than a year earlier. Alcoa Inc. (AA), the largest U.S. aluminum producer, cut 12 percent of capacity in January and Chief Executive Officer Klaus Kleinfeld said April 11 the reductions “may not be the end.” Rusal may lower output...
On April 25, 2012, primary aluminum cash prices experienced the biggest change, rising 0.9 percent on the LME to $2,030 per metric ton. At $2,069, the 3-month price of primary aluminum finished the market day on the LME up 0.8 percent per metric ton. The cash price of Indian primary aluminum prices flattened out, at above $2.00 per kilogram, following a two-day increase. Chinese aluminum prices closed flat for the day. On the SHFE, the cash price of Chinese primary aluminum saw little movement yesterday at CNY 16,060 ($2,547) per metric ton. The price of Chinese aluminum scrap held steady in the mid-$2,000 per metric ton range. Chinese aluminum billet saw little change in its price on Wednesday, also holding in the mid-$2,000 per metric ton range. The price of Chinese aluminum bar was...
Reopening the Century Aluminum plant in Ravenswood will depend on whether the West Virginia Public Service Commission approves a deal with electricity suppliers to give the plant lower rates, company president and chief executive officer Michael A. Bless said Tuesday. That process is expected to take at least four months, and if approved late this summer, it could take an additional four months to prepare the plant for reopening. Savings from lower electricity prices, Bless said, are key to restarting the plant and to creating savings used "to fund a trust for the retirement group. ... We can pay [those benefits] out of the plant's cash flow as long as the plant is operating." During a telephone conference call with company investors, Bless said, "Ravenswood shows that it is neither easy...
Indian state-run National Aluminium Co Ltd has sold 12,000 tonnes of aluminium ingots at $152 per tonne premium over the average LME cash price on a CIF basis to a South Korean buyer, Commercial Director Ansuman Das said on Friday. NALCO, whose tenders serve as a global benchmark, last sold 6,000 tonnes of aluminium at about $120 a tonne premium over the average LME cash price on cost, insurance and freight basis to a Switzerland based company in March.
The aluminum sector in Brazil, Russia, India and China (BRIC) countries is expected to continue to see healthy growth until 2016, according a new report by the UK based research firm BRICdata. The BRIC countries play a dominant role in global aluminum industry in terms of production as well as consumption and their aluminum industry posted a healthy growth during the review period 2007-2011. During the review period, Brazilian aluminum consumption grew at a compound annual growth rate (CAGR) of 9.6%, and the country's aluminum production is expected to grow at a CAGR of 1.59% over the forecast period to reach 1.61 million tons by 2016. Russian aluminum consumption grew at a CAGR of 3.35% during the review period, and the country's aluminum production is anticipated to increase at a CAGR...
Aluminum output at the member nations of the Gulf Cooperation Council will climb to 5.21 million metric tons in 2015 from 3.48 million tons last year, said Mahmood Daylami, Gulf Aluminum Council secretary general. Output at the United Arab Emirates will continue to account for half of the total production in the region, climbing to 2.6 million tons from 1.75 million tons last year, he said in a speech at a Metal Bulletin conference in Shanghai. “The challenge of the expansion in the region will be the availability of gas and the raw material supply - alumina,” he said. “The industry will remain export-oriented to meet the demand of declining output elsewhere in the world.”
Bosnian group Aluminij has put into operation a €489,000 thimble stripping press in its Anode Plant. It also plans to install a €615,000 stub straightening machine very soon. Both items were supplied by the Outotec group. Anode Plant Director, Ivan Grle said the press was fully operational, and was necessary to ensure the smooth production of rodded anodes, given that by changing the dimensions of the stubs on anode rods, the existing presses became a bottleneck in production. The press replaced one of three existing presses, and unlike the old ones, the new press stripes all the three rings at the same time – He also pointed out production capacity with the new press amounts to 25 rods per hour, which speeds up production in the process of rodding. In addition, maintenance costs,...
Russian aluminum producer United Co. Rusal PLC (0486.HK) hopes to triple its aluminum sales to China in the long run through a trading joint venture with China's state-owned China North Industries Corp., or Norinco, an executive said Thursday. Rusal's Head of International Sales, Steve Hodgson, told a conference in southern China's Shenzhen city that the company, which in 2011 sold around 100,000 metric tons of aluminum to China, hopes to boost sales to the country through its 33%-owned North United Aluminium (Shenzhen) Co. to 200,000-300,000 tons a year in the long run, without giving a time frame. "[The actual sales target will] depend on the market circumstance and how the industry in China develops," said Hodgson. However, he noted that China's demand for the light metal, which is...
ABB wins $16 million order to upgrade power infrastructure for aluminum complex in Qatar Zurich, Switzerland, April 27, 2012 - ABB, the leading power and automation technology group, has won an order worth about $16 million from Qatalum, for upgrading the power distribution network at its aluminum smelter in Mesaieed Industrial City, approximately 50 kilometers south of the capital Doha. The order was booked in the first quarter. The project includes re-engineering and reinforcement of the existing distribution system to help increase availability and reliability of power supply to key areas such as the substations, electrical equipment, server rooms, office buildings and workshop. ABB is responsible for the design, engineering, supply and commissioning including civil work. The project...
South Korea has bought a total of 3,000 tonnes of high-grade primary aluminium ingot registered on the London Metal Exchange (LME) via tenders closed on Tuesday, the state-run Public Procurement Service said on its website (www.g2b.go.kr). Details are as follows: TONNES SUPPLIER PREMIUM(CIF/T) 2,000 Metal Park Corp $176.8 1,000 Glencore International AG $182 Note: The above premiums were made over the London Metal Exchange prices on a cost, insurance and freight (CIF) basis.
The Competition Commission of India has approved the amalgamation of various Vedanta Group companies in India to consolidate the structure of the firm and also to eliminate cross holding. The amalgamation of Sterlite Industries India Ltd, Madras Aluminium Company, along with its subsidiaries into Sesa Goa Ltd, has got a green signal from the competition watchdog. The main products of the companies involved in the proposed combination are alumina, primary aluminium, flat-rolled aluminium products and commercial power generation. The competition watchdog said that the proposed combination is a measure of internal restructuring of the London-listed Vedanta Group companies, and that Vedanta Resources Plc would continue to hold the ultimate management control over activities of the companies...
Century Aluminum Company reported a net loss of $3.9M for Q1 2012. Financial results were impacted by a loss on forward contracts of $5M related to the mark to market of aluminum price protection options. Cost of sales for the quarter included a $6.4M charge for the restart of a curtailed potline at the Hawesville, Kentucky smelter. CEO Michael Bless said: "While the pace of end demand growth in key developing markets has slowed, absolute conditions remain reasonable. "Given the risk of shock from the Eurozone, coupled with tight financing markets, customers remain wary of making long-term commitments. The aluminum price has been trading at a level that, in our opinion, is not sustainable.” He said the price of electric power in developed and developing markets renders a significant...
The world’s leading figures in the aluminium industry will be in Abu Dhabi for what has been named as ‘Aluminium Week’. For the first time ever three of the industry’s most prestigious events will take place in Abu Dhabi over the next few days. Emirates Aluminium (EMAL) will play a central role in this global occasion as the major host. EMAL is the host of the Gulf Aluminium Council’s (GAC) Annual Dinner being held at Emirates Palace on 29 April. This is followed the next day by the Annual General Meeting of the International Aluminium Institute’s (IAI). On the same day, 30 April, the CRU’s 17th World Aluminium Conference begins. EMAL is the host sponsor of the four-day World Aluminium Conference and the conference’s signature dinner. EMAL President and CEO, Saeed Fadhel Al Mazrooei,...
Below are the three companies in the Aluminum industry with the lowest forward price to earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.Noranda Aluminum ranks lowest with a a forward P/E ratio of 6.96. Century Aluminum is next with a a forward P/E ratio of 9.08. Alumina ranks third lowest with a a forward P/E ratio of 9.73. Alcoa follows with a a forward P/E ratio of 9.96, and Kaiser Aluminum rounds out the bottom five with a a forward P/E ratio of 13.32. SmarTrend recommended that its subscribers protect gains by selling shares of Century Aluminum on March 5th, 2012 by issuing a Downtrend alert when the shares were trading at...
While US delivered mixed data, LME aluminum closed up USD 18/mt or 0.87% on Thursday as Fed’s decision to keep stimulus as a possible policy direction continued to provide support. Its gains were limited by a drop of 1,521 lots in trading volume to 8,227 lots, though. Investors would mostly stand on the sidelines on accounts of weakness in global markets and economies this last trading day before Labor Day. SMM expects LME aluminum to move between USD 2,075-2,100/mt during today trading while the most active SHFE aluminum contract hovers between RMB 16,130-16,195/mt. Spot discounts over the current-month SHFE aluminum price are expected to be maintained between negative RMB 10/mt to RMB 30/mt as downstream stocks replenishing interest is weak due to thin production orders and tight cash...
Century Aluminum posted a narrower-than-expected first-quarter loss, helped by an 11 percent increase in shipments. January-March net loss was $3.9 million, or 4 cents per share, compared with a profit of $25 million, or 25 cents per share, a year ago. Sales fell marginally to $326.2 million. Analysts had expected the Monterey, California-based company to post a loss of 22 cents per share on revenue of $317.1 million, according to Thomson Reuters I/B/E/S. Shipments of primary aluminum totaled 159,967 tonnes, compared with 144,178 tonnes a year ago. Shares of the company, valued at $713.4 million, closed at $8.11 on Tuesday on the Nasdaq.
Noranda Aluminum Holding Co (NOR.N) said first-quarter profit fell, hurt by lower aluminum prices and a drop in sales. Persisting global macro-economic concerns, particularly the European sovereign-debt crisis and fears of slowing economic growth in China, have dampened aluminum prices, the Tennessee-based company said. A global supply glut has hurt prices and some analysts expect excess capacity in aluminum smelting to drag on for years to come. Net profit fell to $16.2 million, or 24 cents a share, from $38.3 million, or 56 cents a share, a year ago. Revenue fell 10 percent to $353.5 million. Noranda operates a mine in Jamaica to produce bauxite that is refined into alumina at its Gramercy, Louisiana facility. The alumina is then smelted into aluminum at Noranda's smelter near New...
As prices of dry-processed aluminum fluoride drop as much as RMB 800/mt starting from March, and plunges by nearly RMB 1,500/mt since December, producers are jointly suspending production in a bid to curb the downside run, an SMM survey shows. Several producers say they are already running at loss due to present low prices. Production has already halted at some producers in Henan, Anhui, Jiangxi and Shandong. A Jiangxi-producer with an annual capacity of 15,000 mt said it is consuming existing stocks while facilities are being maintained. When to resume production has yet to be determined by future demand and prices, according to the producer. Given relatively stable raw material prices, falling prices are mainly the result of over capacity, said a Shandong-based fluoride producer....
