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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Chinese aluminum prices are likely to rise in April as demand picks up with fabricators resuming business after last month's week-long Lunar New Year holiday, industry sources and analysts said on Wednesday. Primary aluminum demand has been weak after the new year break as many aluminum product plants in southern Guangdong province and some eastern coastal areas have not restarted full production because of reduced export orders and lack of workers. Analysts said demand was also low because aluminum fabricating plants were dipping into massive stocks built before Chinese new year, which fell on Jan. 23 this year. But analysts said they expected domestic demand and export orders, which had been hit by the global economic crisis, to pick up in the second quarter, pushing up prices. "We may...
According to a recent SMM survey, domestic dry-processed aluminum fluoride prices fell by RMB 100/mt following the Chinese New Year holiday, with current mainstream traded prices between RMB 9,400-9,600/mt. SMM believes there are two reasons behind lower dry-processed aluminum fluoride prices after the holiday. First, production cuts and suspensions at aluminum producers in Henan Province caused local supply of dry-processed aluminum fluoride to be in surplus, and enterprises had to cut sales prices amid growing sales pressures. Second, domestic fluorite prices have fallen continuously since the end of 2011, which also led to falling dry-processed aluminum fluoride prices. The SMM survey reveals that more than 400,000 mt of aluminum capacity was cut or suspended in Henan since the...
Aluminium producer Alro has invested over USD 77 million for energy efficiency, over the past six years. Investments targeted both the primary and processed aluminum production processes, as well as the alumna refinery. Alro, which is the largest electricity consumer in Romania, has invested USD 8 million last year for efficiency programmes at the smelter, by replacing energy intensive compressors and upgrading burners in its furnaces, which lead to a reduction in electricity and gas consumption.The company also modernized the industrial water and drainage system. Another USD 7 million was put for energy efficiency at the alumna producer, Alum Tulcea. “By successfully implementing the energy projects over the past six years, we reached a major target and achieved important cost reduction...
Global miner Rio Tinto said now was not the right time to be trying to sell its Pacific Aluminum business, which it is looking to spin off after taking an $8.9 billion writedown on its aluminum business. "At present these are tough conditions to be selling aluminum assets," Chief Financial Officer Guy Elliott told reporters after the group reported its annual results.
Global miner Rio Tinto reported a 6 percent drop in underlying second-half profits and took a $9.3 billion (5.8 billion pounds) charge mainly against its aluminium business, but appeased investors with a huge dividend hike, underscoring its long-term confidence. Like rival BHP Billiton on Wednesday, the world's No.2 iron ore miner was cautiously optimistic that a soft landing in China would drive growth this year and said expected commodity prices would remain volatile. "Whilst our growth programme looks to the medium and longer term, we are mindful of short term uncertainties," Chief Executive Tom Albanese said in a statement. Underlying earnings before one-offs fell to $7.77 billion for July-December from $8.22 billion a year earlier spurred largely by the group's booming iron ore...
Resistance from extreme right wing leaders on the new austerity plan in Greece last Friday again ignited investor worries towards a Greek default, pushing the US dollar index back above 79 and leading to short selling for commodities and stocks. LME aluminum for three-month delivery hit an intraday low of USD 2,236/mt and pared losses supported by short covering before closing down USD 31/mt or 1.36% at USD 2,251/mt. Losses in aluminum were relatively moderate compared with other base metals in LME. Though Greece finally approved its new austerity plan, securing the second bailout, downgrades for 34 Italian banks by Standard & Poor’s mean the Greek debt crisis remains a huge risk source. As such, SMM expects LME three-month aluminum to struggle at USD 2,250/mt and move between USD...
SINGAPORE: LME aluminium will drop to the Thursday low of $2,228 per tonne, as the surge to $2,303 in the same trading session seems to have completed a five-wave cycle that started from the Feb. 3 low of $2,191. This cycle also makes up a bigger wave (5), the last wave of an uptrend that started from the Dec. 29, 2012 low of $1,980.50, making a further surge above $2,303 unlikely. A rise above $2,315 may open the way to $2,370. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Rio Tinto has booked a 59 per cent slump in full year net profit due mainly to a writedown of its aluminium business, but underlying earnings jumped eleven per cent. The mining giant on Thursday reported net profit of $US5.8 billion ($A5.39 billion) for calendar 2011, compared to $US14.32 billion ($A13.32 billion) for the previous full year. The company said the result was primarily due to an impairment charge of $US8.9 billion ($A8.28 billion), related to its aluminium business. Rio Tinto's underlying earnings for the 12 months to December 31 amounted to $US15.5 billion ($A14.42 billion), up from a record $US14 billion ($A13.02 billion) in 2010, and beat analysts' expectations. Consensus among analysts was for underlying earnings of $US15.3 billion ($A14.23 billion). Rio Tinto also...
THE Australian arm of the world's largest aluminium producer has warned that a higher carbon cost is adding to the risk that Australia will lose jobs and investments to China's refineries and smelters. Rusal Australia chairman John Hannagan said China's producers were already competing aggressively with Australia -- which has six smelters and seven refineries -- but faced a significantly lower carbon price. "In case anybody doesn't know where the competition is, it's China," Mr Hannagan told The Australian yesterday. "They will build more capacity than gets shut down this year. The rest of the industry can shut down a million tonnes this year; China will build that again without even blinking. China will replace that capacity." Russian giant Rusal has a 20 per cent stake in the Queensland...
Alcoa's announcement to undertake a comprehensive review of its Point Henry aluminium smelter has sparked fears for hundreds of jobs and the future of the industry. It's an anxious time for aluminium workers. Alcoa announced it is undertaking a review of its Geelong smelter, which could include scaling down or shutting down the plant. The company has deemed it unprofitable due to high input costs and pressures from the high Australian dollar. Minister for Regional Cities and South West Coast member Denis Napthine says Alcoa has informed him that about 600 jobs at its Portland smelter are safe at this stage. But he admits there are challenging times ahead for the aluminium industry. "I'm advised by Alcoa that Portland is not included in this review and they are saying that Portland is an...
ALCOA says a carbon tax will make life harder for the company as it reviews the future of its Victorian smelter and the jobs of up to 600 workers. However Alcoa Australia managing director Alan Cransberg said today the looming tax was not the reason for the review, as Tony Abbott sought to link a carbon price to jobs at the Point Henry aluminium smelter at Geelong. Julia Gillard weighed into the debate, labelling as “disgusting” the opposition's use of potential job losses in its campaign against the carbon tax, which will be implemented on July 1. Alcoa announced it would examine the viability of the smelter because a high dollar, higher metal prices and input costs had made it unprofitable. Mr Cransberg said while the carbon tax was not the reason for the review, it would hurt business....
Below are the three companies in the Aluminum industry with the highest forward earnings yields. Using projected earnings for the current fiscal year, the forward earnings yield is useful to compare a stock's return vs. owning a similar stock or other yield assets (e.g. bonds). Generally, the higher the earnings yield, the more undervalued the stock.Noranda Aluminum ranks highest with a forward earnings yield of 9.5%. Following is Alumina with a forward earnings yield of 5.0%. Alcoa ranks third highest with a forward earnings yield of 4.9%. Kaiser Aluminum follows with a forward earnings yield of 4.5%, and Century Aluminum rounds out the top five with a forward earnings yield of 2.2%. SmarTrend recommended that subscribers consider buying shares of Noranda Aluminum on December 13th, 2011...
BHP Billiton's $US9.9 billion December-half profit and Alcoa's announcement yesterday that it is reviewing the future of the Point Henry aluminium smelter in Geelong both point to a change in the resource boom. It has slowed from a fast boil to something more like a simmer, and there are ramifications. BHP is already tapping gently on the brakes to reflect the new reality. Top-tier projects including the group's $30 billion Olympic Dam copper mine expansion in South Australia will not be put in aspic, but they will proceed a bit more slowly as BHP trims its $20 billion-a-year capital expenditure run rate. The group's new shale gas deposits in the United States, acquired last year at a cost of $US20 billion, will also ramp up a bit more slowly, and be more heavily weighted to higher-value...
India is home to one of largest reserves of coal and high-grade bauxite in the world. It can certainly be at the bottom of the cost curve of global producers. The country should realise this potential and can become a global hub for aluminium. — Mr S.K. Roongta, Managing Director, Vedanta Aluminium A seasoned public-sector strongman, Mr S.K. Roongta, former chairman, Steel Authority of India Ltd (SAIL), has a new challenge in hand — taking aluminium to new heights for Vedanta Aluminium. As Managing Director of the private-sector metals major, Mr Roongta is upbeat about aluminium prices going up, bringing in better profits. Excerpts: What made you switch tracks to aluminium? I spent 38 years of my professional life in steel. Meeting the challenges of SAIL's transformation and putting it on...
Research and Markets has announced the addition of the "Aluminum Industry in China" report to their offering. The aluminum industry in China expanded by 66.8% last year, making China the largest single producer and consumer of aluminum in the world. It is expected that China will produce about 17 million tons this year, a hike of 20 percent from the previous year. But that record comes at a steep price. Aluminum production not only consumes about 8% of all electric power in China, but is also responsible for large amounts of carbon dioxide (CO2) emissions. And the electricity needed to power the industry has a multiplier effect on pollution problems because 70% of China's electricity comes from coal, a major contributor of CO2 emissions. Aluminum is used in a wide range of markets such as...
THE Federal Government "will leave no stone unturned" to secure the future of Alcoa's aluminium smelter near Geelong, the local member says. Alcoa says it will examine the viability of its aluminum smelter at Point Henry in Geelong, which employs 600 people, because low metal prices, a high Australian dollar and input costs have made it unprofitable. Corio MP Richard Marles said the Government was working with Alcoa and companies such as Ford to ensure their industries remained viable. "We'll be making sure there is no stone left unturned to find out what possibilities there are to make sure that Alcoa is a part of the future of Geelong," he told ABC radio. Mr Marles said the Opposition was "deserving of condemnation" for blaming the carbon tax on Alcoa's decision to review the Geelong...
ALCOA'S 600 workers a Geelong aluminium smelter face an uncertain future with a new review of the plant. Alcoa said today it would review the viability of its Point Henry aluminium smelter because higher metal prices, input costs and exchange rates had made it unprofitable. "Our goal is for Point Henry to continue operating and meet its profitability targets,'' Alcoa of Australia managing director Alan Cransberg said in a statement. "However one possible outcome of the review is that production at Point Henry may be curtailed.'' The plant employs 600 people. "I know this is unsettling news that creates uncertainty for our employees and the many people that depend on the smelter for their livelihood,'' Mr Cransberg said. "We will do all we can to ensure the smelter is competitive.''
Aluminum producer Century Aluminum Co. named Michael Bless its president and CEO. The appointment comes nearly three months after former President and CEO Logan Kruger left the company and sued it, alleging breach of contract and wrongful termination. At the time Century Aluminum said that Kruger's claims were without merit. Bless was named acting president and CEO then. He has served as chief financial officer and executive vice president of the company since January 2006. Before joining Century, Bless was CFO of Rockwell Automation. "Mike has shown excellent leadership during this interim period and has clearly demonstrated to the Board that he is the right person to lead Century and its experienced management team," Chairman Terence Wilkinson said in a statement. Shares of Century...
