Century Aluminum’s proposed USD 4 billion primary aluminum smelter in Inola, Oklahoma, is “moving forward on all fronts” as the company prepares for construction, despite local opposition and legal challenges, CEO Jesse Gary said during the company’s third-quarter earnings call. Developed jointly by Century Aluminum and Emirates Global Aluminium (EGA), the project is designed to produce 750,000 tonnes of primary aluminum annually, potentially doubling U.S. primary aluminum production. The facility is expected to create thousands of direct and indirect jobs and add USD 1.5 billion to Oklahoma’s gross domestic product, according to company estimates. The partners had targeted construction to begin by the end of 2026. However, local restrictions and permitting challenges have affected the...
LME aluminium stocks declined by more than half during the first nine months of 2026, falling by 267,875 tonnes from 509,250 tonnes on January 2 to 241,375 tonnes on September 30 (52.6 per cent). The decline continued throughout the period, with average warehouse inventories falling each month. Compared with the same period in 2025, monthly average stocks were lower across all nine months, with the gap widening in the third quarter. Q1 LME aluminium stocks fall 18.2 per cent LME aluminium inventories continued to decline during Q1 2026. Month-end stocks fell from 495,725 tonnes in January to 465,550 tonnes in February, before dropping further to 416,775 tonnes in March. Monthly average inventories stood at 498,670 tonnes in January, 481,801 tonnes in February and 440,710 tonnes in March....
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Sohar Aluminium recently held its annual Fun Run at its premises. The Fun Run which promotes the message of healthy lifestyle and staying fit saw close to 200 athletes which included employees of Sohar Aluminium and their families as well as athletes from Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Aluminium Rolling Company (OARC). The event had two categories: running and walking. Runners covered a distance of 8 kilometres while walkers walked 4 kilometres. The Fun Run this year coincided with the inauguration of the newly developed orchard within the aluminium smelter. Welcoming the athletes on the occasion, Isabelle Brassard, General Manager Services remarked, “The fact that a beautiful orchard is thriving right next to the smelter is proof that we use the...
Aluminum prices have “officially entered into a technical bull mode” after prices closed above the 200-day moving average for two consecutive days and also met other key technical standards, said Harbor Intelligence in a research note. “Since 2003, when these conditions have been met, LME aluminum prices have experienced a longer-term upward move with an average increase of $750 per mton (37 cent/lb). The Fear/VIX index has fallen below key thresholds and is consistent with strong physical primary and secondary demand in North America and resumption of sustainable but modest growth in Europe and China,” Harbor added. Meanwhile, Harbor says, some 3.5 million metric tons per year of utilized capacity around the world has been or is in the process of curtailment or disruption, amounting to...
As share prices of both Sesa Goa and Sterlite plummeted today, after Vedanta announced the merger of its loss-making entity Vedanta Aluminum Ltd (VAL) into the newly-formed company Sesa Sterlite, the Jharsuguda-based VAL said the losses were only short-term and linked to the fluctuation in metal prices. "The losses that we incurred in the past few months were in tandem with international market trend, as world-wide metal prices collapsed in fear of uncertainty in European economy. But I think prices will revive in a couple of months,” Mukesh Kumar, chief operating officer of VAL told Business Standard. The aluminum prices on the benchmark London Metal Exchange (LME) closed at $2,327 a tonne on Monday, up from $2,087 quoted 10 days ago. Kumar said there is a possibility the rates will go...
LME three-month aluminum ended positively for a seventh consecutive trading day on Tuesday, closing USD 9/mt or 0.39% higher at USD 2,327/mt as positive expectations for ECB refinancing operation and improving US consumer confidence in February beat a contraction in US durable goods orders in January. Investors will stay cautious before release of the ECB refinancing plan and China’s PMI data, which may help LME three-month aluminum consolidate support at USD 2,300/mt. The moving band is expected to be USD 2,300-2,350/mt. The most active SHFE three-month aluminum contract is expected to move between RMB 16,230-16,300/mt as it tests resistance at the 30-day moving average. Spot discounts over the SHFE current-month aluminum price are expected at RMB 130-180/mt.Purchases from downstream...
UC RUSAL (SEHK: 486; Euronext: RUSAL/RUAL; MICEX-RTS: RUALR), the world's largest aluminium producer, is pleased to announce the completion of the first stage of its Nadvoitskiy aluminium smelter's (NAZ) modernization and the increase in alloys production due to the smelter's revamping programme. The investments at the first stage of the project amounted to USD 2,3 million. The installation of new equipment - a 30-tonne-mixer and 2 casting conveyors with total capacity of 14 tonnes per hour - is completed at the NAZ casting complex. The launch of this equipment will enable the smelter to increase its annual alloy production capacity from 15,000 tonnes to 45,000 tonnes. As a result the alloys share in NAZ general production rate will increase up to 60%. New products will mostly be used for...
Norsk Hydro ASA (NHY), Europe’s third- largest aluminum producer, fell the most in almost two weeks in Oslo trading after an analyst report predicted a worsening of oversupply in the global aluminum market in 2012. The shares fell as much as 3.2 percent, the most since Feb. 14 and were down 2.3 percent to 33.45 kroner as of 1:14 p.m. in Oslo. The Stoxx 600 Basic Resource Index (SXPP) fell 0.8 percent. The stock has risen 21 percent this year. Global aluminum will exceed demand by 419,000 metric tons this year, increasing from 388,000 tons in 2011, Macquarie Group Ltd. said in a report yesterday. “Announced cuts in production have come thick and fast in recent months although it is hard to distinguish between ‘capacity’ reductions and actual production reductions,” the analysts wrote. The...
While the future of the European Union has come into question given the sovereign debt issues of the region, Deutsche Bank remains of the view Europe will stay united as financial stabilisation will eventually be achieved. Assuming this occurs Deutsche expects risks relating to the region may be mitigated, while growth will be supported. Such a scenario would be important for metal demand in Europe. As Deutsche notes, such a scenario would also likely help boost sentiment in Asia where aluminium fabricators in particular have adopted a cautious stance given the difficulties in what is a key export market. One catalyst that could improve aluminium market conditions in the view of Deutsche Bank is improving sentiment in Europe in both the current and upcoming quarters. The next few months...
Alcoa and Alcoa Foundation announced combined community giving of $38 million in 2011, compared with $36.8 million in 2010. The annual giving results were released today in recognition of International Corporate Philanthropy Day, which celebrates business-community partnerships around the world. “International Corporate Philanthropy Day is an opportunity to reaffirm our commitment to a model of ‘shared value creation,’ where together with governments, businesses, civic groups and our employees, we engage in work that makes communities stronger for us all,” said Paula Davis, President, Alcoa Foundation.
Global aluminium demand advanced sharply by 6% in 2011while its production increased by 6.2%, according to the data released by World Bureau of Metals Statistics (WBMS). According to WBMS, primary aluminium demand increased by 2389 kt to 42.45 million tons in 2011 and production gained by 2540 kt to 3.91 million tons. WBMS also reported that, Chinese production was estimated at 17988 kt and this currently accounts for just over 41% of the world production total. China was a net exporter of unwrought aluminium during the year with exports exceeding imports by 433 kt. In December 2011, primary aluminium production was 3581.8 kt and consumption was 3351.9 kt. The calculated market surplus for primary aluminium for January to December 2011 was 1205 kt which compares with a surplus of 1053.6...
As share prices of both Sesa Goa and Sterlite plummeted today, after Vedanta announced the merger of its loss-making entity Vedanta Aluminum Ltd (VAL) into the newly-formed company Sesa Sterlite, the Jharsuguda-based VAL said the losses were only short-term and linked to the fluctuation in metal prices. "The losses that we incurred in the past few months were in tandem with international market trend, as world-wide metal prices collapsed in fear of uncertainty in European economy. But I think prices will revive in a couple of months," Mukesh Kumar, chief operating officer of VAL told Business Standard. The aluminum prices on the benchmark London Metal Exchange (LME) closed at $2,327 a tonne on Monday, up from $2,087 quoted 10 days ago. Kumar said there is a possibility the rates will go...
Following the G20 failure to reach an agreement on euro zone aid and the drop of New York crude from a recent high, LME three-month aluminum closed down slightly by USD 3.3/mt or 0.14% at USD 2,318/mt on Monday. The metal only hit USD 2,339/mt with the help of better than expected US pending home sales data for January. With a slightly bearish market sentiment, LME three-month aluminum is expected to move between USD 2,280-2,330/mt during today’s trading as it struggles at USD 2,300/mt. The most active SHFE aluminum contract for delivery in May is expected to see light trading as it wavers between RMB 16,200-16,280/mt. Spot aluminum is expected to trade at discounts of RMB 120-180/mt over the SHFE current-month aluminum price. The metal is not likely to break through RMB 15,900/mt in the...
Shandong Weiqiao Aluminum Power New Material Casting and Hot Rolling Branch held grand foundation laying ceremony. The construction period was 18 months temporary. The workshop base, mass concrete construction and installation of hot rolling mill train equipment, pipeline and installation and debugging of electrical system was the key points for this project.
Vedanta Resources plans to simplify its structure by placing all but one of its subsidiaries under the umbrella of a single unit, as part of a efforts to cut costs, improve access to cash and reduce the India-focused miner's debt burden. FTSE-100 diversified miner Vedanta, which has underperformed the UK sector by more than 25 per cent since the start of last year, currently has a sprawling structure with over a dozen units, none fully owned and several separately listed, producing power and commodities from oil and gas to iron ore. "The completion of Cairn India was the opportunity for us to complete our strategy of simplifying the group structure. This is something that has been sought by our shareholders and we have been thinking about it," Chief Executive M.S. Mehta told Reuters....
A small molten aluminum spill this morning at an auto parts manufacturer in Mascot forced employees out of the building, but no injuries were reported, a Rural/Metro official said. According to Battalion Chief Jonathan Rood the leak occurred about 9:30 a.m. at the EXEDY America Corp. in the Eastbridge Business Park. The company manufactures parts for torque converters. One of their machines that melts aluminum to fabricate parts malfunctioned and leaked molten aluminum in a 4-foot-by-4 foot puddle, Rood said. "It was contained under the pot. Once the power was secured to it and the heat source taken away, it began to cool and sealed off the leak or spill," Rood said. "The leak was close to the floor by a matter of inches. It was a slow leak, so there were no injuries and nobody was...
Chinalco expects China's production of primary aluminium to rise 10.5% this year as capacity grows. Chinalco is the country's top aluminium producer through its company Chalco. The trading arm, China Aluminum International Trading Company, sees more new capacity coming on stream in the second half of this year, which would push up full-year production of primary aluminium to 21.5Mt. "2012's output would rise at least 10.5% from 2011," Li Dongguang, president of the trading unit wrote in a report on the Chinalco newsletter. Global output, including China, would rise 7 percent to 48.8Mt in 2012 from 2011 as capacity in China, the Middle East and India rises. Of the expected world demand, China would consume 21.3Mt this year, marking a yearly rise of 6.6%.
Aluminium is crucial to many everyday things around us, although we may not notice. Without aluminium we cannot fly, travel by high-speed train, high-performance car, or fast ferry. We cannot get heat and light into our homes and offices without it. Therefore, Hydro Aluminium plays a more significant role in our lives than we may think. Hydro, a global supplier of energy, has been converting aluminium into energy since 1903 when two Norwegians, entrepreneur Sam Eyde and professor and inventor Kristian Birkeland, created a method for using electricity to capture nitrogen from the atmosphere. This was part of an industrial revolution, which ironically had stimulated global population growth but had yet to create an adequate industrial farming system. UsingNorway’s vast potential for...
Rising costs in the aluminium business and sluggish market conditions have crimped the margins of aluminium firms in India. Though three firms in the sector have posted a decline in third quarter earnings, new investments in ramping up production are clearly on track. Aluminium, on the London Metal Exchange (LME), has been falling since the beginning of the year. A similar decline has been witnessed in the core earnings and profits of alumimium firms in India. India's biggest state owned producer, National Aluminium Company (Nalco) posted a 80% decline in third quarter profit as prices of the metal slid and energy costs rose. Net income fell to $10.4 million. Similarly, mining major Vedanta Resources posted a 5% dip in core profit its December quarter, hit by weaker performances at its...
This year Chongqing City will try to realize industrial sales value of 1.7 trillion yuan. It is learned that against the backgroud of tight energy supply and rising labor cost that a batch of key projects in Chongqing City will achieve designed production this year, also the city will import foreign natural gas to ease tight gas supply. These new industrial projects including: SWA Cold Tandem Rolling and Medium Plate Project, Chinalco 800 Thousand Tons Alumina Project and Chuanwei 300 thousand tons VAC Project. Chongqing Economic and Information Technology Committee pointed that each industrial enterprise faced with the following 5 challenges: market demand slow down, energy supply and demand contradiction, rising cost, tight working capital and difficult labour force guarantee.
