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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State-owned aluminium major NALCO plans to spend Rs 900 crore by next fiscal on nuclear power ventures, for which it had signed a joint-venture agreement with Nuclear Power Corporation of India Ltd (NPCIL) in November. As per the plan, the investments will be made on unit 3 and 4 of Kakarapar Atomic Power Station (KAPS) in Gujarat, a senior company official said, adding that both the units are of 700 MW each. The official further said that "NALCO would be investing Rs 300 crore in the current quarter on the project, in lieu of its 26 per cent stake, while rest of the money will be invested in next fiscal". Both the units of KAPS entail a total investment of Rs 7,000 crore and are planned to be commissioned by 2015. The company, which currently has the permission of having only 26 per cent...
The aluminium industry is facing a challenging time as producers tackle high input costs and lower prices for aluminium and aluminium-related products, Norwegian producer Norsk Hydro's CFO said Thursday in an interview. "For many players it's still challenging, there is always more you can do," CFO Jorgen Rostrup told Platts. Hydro announced its intention to idle one potline at its Kurri Kurri primary aluminium smelter in Australia in January, trimming production at the plant by 60,000 mt from a total capacity of 180,000 mt. The plant has recently been hindered by a strong Australian dollar, high raw material costs and weaker aluminium prices. "We will do whatever we need to do... We are evaluating what to do next on Kurri Kurri," Rostrup said. He noted that the Kurri Kurri operation was...
THE aluminium industry will ask the federal government for greater relief from its renewable energy laws, warning they will have a greater impact than the carbon tax over the next few years on smelters confronting falling metal prices and a surging Australian dollar. The Australian Aluminium Council, the peak body for the $5 billion industry, will lobby for more generous exemptions for smelters under the government's Renewable Energy Target when the scheme is reviewed this year. While the RET is not as politically charged as the carbon tax - the scheme secured bipartisan support when it passed through parliament in 2009 - AAC executive director Miles Prosser said it imposed a greater cost on smelters than the starting carbon price. "When we look at the cost of government policy and...
General growth in Asia varies between the mature market of Japan, which has experienced years of flat growth and China which has been growing at 11% per annum. Whilst we predict that Japan's growth is likely to expand in 2012 with reconstruction after the earthquake and tsunami in March of 2011, the strong value of the YEN against the USD will continue to affect exports. The trend of Japan's automotive and electronics plants moving to low cost countries in South East Asia or to North America and Eastern Europe is expected to continue. This is likely to impact on the growth in Japan in the medium to long term. Demand in Korea and Taiwan is expected to moderate in 2012 with a slowdown in US and Europe related export activity and contraction of the domestic construction sectors. China's...
Alcoa Australia, a subsidiary of the US-based multinational Alcoa, announced on February 8 that it would complete a review by June of the “future viability” of its Point Henry aluminium smelter in the regional Victorian city of Geelong. Working in conjunction with the federal Labor government of Prime Minister Julia Gillard and the trade unions, the company is preparing to axe the plant or use the threatened closure to impose another round of attacks on jobs and conditions to drive up productivity. The closure of Point Henry, which has been operating since 1963 and has an annual output of 190,000 tonnes, would destroy 300 jobs in the smelter and 200 in the neighbouring rolling mill and drive up unemployment in Geelong, population 175,000. An estimated 3,000 people in the regional...
Russia's aluminum output in January increased by 5.7% compared with January 2011, the federal statistics service reported Friday. The statistics service does not give output volumes in tonnages, only the percentage change. Russia's zinc output in January increased by 2.4% compared with January 2011. Russia's copper output in January increased by 2.3% compared with January 2011. Russia's nickel output in January fell by 0.2% compared with January 2011. Lead output fell by 18.6% on the year and bauxite output fell by 2.7%.
Norwegian aluminum producer Norsk Hydro ASA (NHY.OS) said Thursday it is considering reducing production further from its Kurri Kurri plant in Australia, after a write-down on the plant weighed on the company's earnings. Norsk Hydro, Europe's largest aluminum producer, shuttered more than 300,000 tons of production, about 25% of its capacity, after the financial crisis in 2008. Most of this is still idle. Aluminum producers have already announced 1 million metric tons of curtailments in 2012, according to Norsk Hydro, and with continuing overcapacity in the market any further production cuts could affect prices. The company said recently that production at Kurri Kurri wasn't profitable in current conditions, due in part to a strong Australian dollar. "Even after reducing our costs [at...
A reserve ratio cut by China’s central bank last Saturday and optimism towards the second Greek bailout helped strengthen the euro, which in turn led to a higher opening price of LME three-month aluminum futures on Monday. The metal quickly pared gains, however, and closed up USD 38.8/mt or 1.8% at USD 2,192/mt as buying interest was depressed. Transactions of the contract dropped by half to 5,204 lots as US financial markets were closed on Presidents’ Day. SMM expects LME three-month aluminum to struggle at the 5-day moving average and move between USD 2,160-2,210/mt during today’s trading on limited optimism. The most active SHFE three-month aluminum contract is expected to move between RMB 16,150-16,250/mt. Middlemen’s bargain hunting will dominate today’s spot aluminum trading. Spot...
A recent surge in imports of primary aluminum by China, the world's top producer and consumer of the metal, could hit a wall in April as weak domestic prices drive traders to cut new orders for spot metal, trading sources said on Friday. Slowing global economic growth has cut demand for Chinese goods, piling on the pressure for the world aluminum market, which is already facing a problem of oversupply. In China, investors, merchants and fabricators who use the metal to make semi-finished products stepped up bookings of primary aluminum in late November and December, lured by an attractive arbitrage, or price differential, between London Metal Exchange prices and Chinese prices AL-A00-CCNMM, that had not been seen since 2009. The bulk of that booked metal was scheduled to arrive in China...
South Korea’s Public Procurement Service, a state-run body that manages strategic commodities, purchased 3,000 metric tons of high-grade primary aluminum ingots of Indian origin in a tender, according to notices posted on its website. Of the total, the agency purchased 2,000 tons from LG International Corp. (001120) at a premium of $121 per ton added to the London Metal Exchange cash-settlement price, the notices showed today. It bought the remaining 1,000 tons from Daewoo International Corp. (047050) for a premium of $116 per ton over the same benchmark price. Aluminum for delivery in three months on the London Metal Exchange increased 0.7 percent to $2,176 a ton at 4:42 p.m. Seoul time, bringing this year’s gain to 7.7 percent.
The global aluminum market was in a 1.9 million metric tons a year surplus by the end of 2011, Norwegian producer Norsk Hydro ASA (NHY.OS) said Thursday, with demand affected by weak markets in the latter part of the year. Consumption in the fourth quarter on an annualized basis amounted to 24.7 million tons, while global supply increased in the fourth quarter to take annualized production to 26.6 million tons, it said. Norsk Hydro, Europe's largest aluminum producer, said recent announcements concerning smelter closures and limited new capacity coming on stream is expected to improve the supply-demand balance in 2012. "We estimate a demand growth of about 3%-5% in 2012 in the world outside China," the company said. "However, market sentiment continues to be influenced by significant...
The 50,000 tons aluminum bars project of Jing Xiang Metal Science and Technology Co., Ltd held the commencement ceremony at Dan Jiangkou City. It is learned that this project plans to invest 0.18 billion yuan with 3 years construction period. From second year on will go into operation while in construction, then in the sixth year annual aluminum bar production will reaches 50 thousand tons, annual sales about 2.68 billion yuan. This is another over hundred million yuan project in Dan Jiangkou City. This project push the development of the construction of aluminum industrial park which was already planned and about to start, also has laid a solid foundation for the extension of metallurgy industrial chain and creation of 5 billion yuan metallurgy industry.
LME three-month aluminum hit a low of USD 2,150/mt and closed down USD 21.5/mt or 0.99% at USD 2,153.3/mt last Friday, as investors were still skeptical towards the second Greek bailout. Latest SHFE aluminum stocks increased 2,675 mt to 5,120,650 mt while total positions climbed 1,054 lots to 743,848 lots. China’s latest reserve ratio cut on Saturday indicated extremely tight cash flow at banks. However, time is needed for the cut to bring noticeable support for the Chinese economy. Euro zone finance ministers will meet today to discuss the second Greek bailout plan. LME aluminum may see a slight rebound as a result of above development and move between USD 2,160-2,210/mt during today’s trading. The most active SHFE aluminum contract for delivery in May is expected to test support at the...
Aluminium is trading on the soft side of this year's $1,900- to $2,600-per-ton range after Chinalco, the country's top aluminum producer and the trading arm of Aluminum Corp of China ( ACH , quote ), released a statement projecting that China's production of primary aluminum is set to rise by 10.5% this year, despite the ongoing delay in starting up many smelters. The firm says that the country will see new capacity coming onstream in the second half of this year, which would push up full-year production of primary aluminium to 21.5 million tons, whilst global output, including China, will rise by around 7% in 2012, to 48.8 million tons as capacity in China, the Middle East and India rises. Against this burgeoning supply, Chinalco expects world demand for primary aluminum to increase by...
Aluminium futures fell by 0.32% today after speculators reduced their positions, triggered by a weak trend at the London Metal Exchange (LME). At the Multi Commodity Exchange, aluminium for delivery in February fell by 35 paise, or 0.32%, to Rs 107.35 per kg, with a business turnover of 109 lots. The March contract declined by 35 paise, or 0.32%, to Rs 108.85 per kg, with a trading volume of 8 lots. Meanwhile, at the LME aluminium fell 0.5% to $2,190 per tonne. Analysts said a weakening trend in the entire base metals pack at the LME after a decision on a second bailout for Greece was postponed, mainly kept pressure on the aluminium prices at futures trade here.
Look to the west, not China, to make further aluminum production cuts to help reduce the market oversupply, the chief executive of Europe's largest producer of the metal said Thursday. Speaking in an interview with Dow Jones Newswires, Norsk Hydro ASA's Svein Richard Brandtzaeg said that history shows China keeps its domestic market as close to balance as possible by adjusting its imports, exports and production. "We haven't calculated on short-term support from China," he said. "Companies in the west are realistic about what they can achieve [with production cuts]." The aluminum industry has been in a surplus "for quite a long time," he said, aided by a flurry of new smelters and expansions. "There has been a big appetite for investment in capacities during several years, and we are now...
Montenegro's government said on Thursday it would launch a procedure to take full control of the Adriatic country's heavily indebted aluminium plant, in which it shares a controlling stake with Russia's EN+ company. The government made the move after it was forced last week to assume a 132 million-euro ($172.16 million) maturing debt owed to foreign creditors by Kombinat Aluminijuma Podgorica (KAP), which it guaranteed in 2009. KAP is Montenegro's sole aluminium plant and a key driver for its economy. However it has been losing money since global metals prices fell in 2009 and output at the 120,000 tonnes a year plant was cut sharply. "The government has opted for this move in order to closely follow the situation in the plant and define the policies related to the further production of...
Russia's Rusal said Tuesday it to increase its aluminium alloy production capacity in Siberia by 800,000 mt/year to 1.93 million/year by 2016, representing a 70% boost in its Aluminium Division East alloy output. The Russian aluminium producer said it will invest $5 million in 2012 in the upgrade of its Krasnoyarsk, Bratsk, Sayanogorsk, Novokuznetsk and Irkutsk aluminium smelters. Rusal will increase slab production at Krasnoyarsk, Bratsk and Sayanogorsk to meet demand growth from the packaging and automotive industries. The smelters' slab production capacity is set to increase by 83,000 mt/year to 507,000 mt/year in 2012.
