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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Patricia Mohr, who heads commodities research at Canada's Scotiabank, puts it more circumspectly, but she is convinced the world's most populous country can be struck off future marketing plans of Western aluminium producers. In her latest monthly outlook, Mohr describes as "extraordinary" the fact that China is building a new aluminium industry in northern and western provinces, particularly Xinjiang, based on the ready availability of thermal coal for power generation. Chinese authorities recently estimated Xinjiang had about two trillion tonnes of coal. She writes that the new Xinjiang smelters have cash costs about 5 per cent below the world average and are quite competitive, unlike many high-cost smelters in eastern China. The full digital experience "China continues to aim for...
UC RUSAL (SEHK:486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUALR), the world's largest aluminium producer, is pleased to announce that it has entered into an agreement to acquire 50% of OOO "Yaroslavsk GRK" (Yaroslavsk Mining Company) from Russian Mining Company (RGRK). Following completion of the deal, Yaroslavsk GRK will be 100% wholly owned by RUSAL. The acquisition is in line with RUSAL's strategy to develop the Company's own resource base as it looks to be self sufficient in raw materials. The deal remains subject to the Federal Antimonopoly Service's ("FAS") approval and is expected to complete afterwards. UC RUSAL First Deputy CEO Vladislav Soloviev said: "The acquisition of the remaining 50% stock in OOO "Yaroslavsk GRK" is the logical next step for RUSAL towards strengthening...
A $20 million project to boost electric amperage is under way at Rio Tinto Alcan's Sebree, Kentucky, aluminum smelter in an effort to increase the plant's aluminum-making capacity to help offset rising electricity rates. The project, expected to be completed later this year, "allows us to make more metal ... that's what we want to do," plant spokesman Kenny Barkley said Wednesday. He said Sebree produced about 196,000 metric tons of aluminum in 2011. Increasing the amperage should allow the smelter to produce an additional 5,000 to 15,000 mt, moving it above 200,000 mt on an annual basis, he said. "The intent is to increase capacity," Barkley said. "That's one way to help alleviate costs if power prices increase, by making more metal with the same amount of equipment and people."
Aluminium prices are expected to rise up to 10 percent from current values by the end of the second quarter, as output cuts take effect, a senior executive at Rusal, the world's largest producer of the metal, said on Wednesday. Prices could rise up to $2,400-$2,500 per tonne, Rusal executive Oleg Mukhamedshin forecast. Aluminium prices ended last year near 18-month lows on concerns about economic weakness and oversupply, prompting Alcoa and Norsk Hydro to cut capacity. Rusal is also considering cutting capacity. Still, Mukhamedshin forecast that demand from Asia and the U.S. will rise this year which, together with the reduced output, will support prices. "We still see strong demand for aluminium. This year is going to be another record in consumption," Mukhamedshin told reporters in...
State-run metal producer National Aluminium Co Ltd (NALCO) has raised aluminium prices by Rs 2,000 ($40.8) per tonne across all products, said Ansuman Das, commercial director at the company. The price was revised for the domestic market after prices rose overseas, he told Reuters on Thursday. The basic price of standard aluminium ingots after the latest revision has been increased to 140,700 rupees per tonne. Nalco last raised aluminium prices on Jan. 13, when it had increased them by 1,500 rupees per tonne.
Vedanta Resources, the FTSE 100 Indian metals and mining group controlled by Anil Agarwal, saw its profits slip in spite of an increase in revenues as pricing pressures on industrial metals squeezed margins. The company, which in December completed its $8.67bn purchase of a majority stake in oil producer Cairn India, generated earnings before interest, tax depreciation and amortisation of $848m in its third quarter to December, down from $890m in the same period the previous year. That amount included a $131m contribution from Cairn India, in which Vedanta now holds a 58.5 per cent stake. Without this addition ebitda for the quarter would have fallen by about a fifth. Increased production volumes across many of its businesses helped push up quarterly revenues by 11 per cent from $3.1bn to...
Gains in January manufacturing indexes of China, Europe and the US boosted market confidence and in turn dragged the US dollar index below 79 overnight, helping LME aluminum breaking through the 5-day moving average and closing USD 23/mt or 1.02% higher at USD 2,271/mt. Total positions for the metal plunged 14,267 lots due to short covering. LME aluminum prices have been volatile this week as the European debt crisis remains unsolved and US employments, which are expected to considerably trail estimate, may erode support from gains in PMI data of major economies. SMM expects LME aluminum to test support at the 5-day moving average and move between USD 2,250-2,300/mt during today’s trading. The most active SHFE three-month aluminum contract is expected to test resistance at the 5-day...
The growing success of Gulf Industry Fair (GIF) is a statement about the healthy confidence in the industrial sector in the GCC, says Jubran Abdulrahman, managing director of Hilal Conferences and Exhibition (HCE) The Gulf Industry Fair is firmly established in the calendar for many companies as the regions premiere industrial exhibition. The 2012 show already boast an increase in companies and agencies to be showcased at the Exhibition taking place at Bahrain International Exhibition Center from Feb. 7 to 9. Despite the challenging global economic conditions, the Gulf’s bold industrial ambitions remain undented. Investors — both local and international — continue to demonstrate their faith in a region predicted to witness major investment over the next decade where governments, aiming to...
Sterlite Industries reported strong Q3FY12 results at the operating level with: (i) a strong copper business, and (ii) a fall in production cost at Balco, Vedanta Aluminium (VAL) and power business. After repeated increase in the cost of production at VAL and Balco, the company reported a decrease in cost of production with: (i) higher utilisation leading to efficiency realisation; (ii) lower alumina cost; and (iii) better coal availability lowering power costs. The company has indicated that VAL’s aluminium cost of production at $2,004/t (from $2,554/t in Q2FY12) and Balco’s cost of production at $1,880/t (from $2,399/t in Q2FY12) is sustainable at current levels. Sterlite Energy has also lowered the cost to R2.6/KWH down from R3/KWH in Q2FY12 on higher generation and better coal...
Norway's Norsk Hydro ASA (NHY.OS) said Wednesday its fourth quarter results will be hit by writedowns of NOK1.3 billion ($221.4 million) as weakening in certain markets, low prices and raw material and currency pressures weigh on the aluminum producer. "We have seen a worsening in some markets, especially in southern Europe, where we have a significant exposure in our extrusion business," Chief Executive Svein Richard Brandtzaeg said in a statement. "In addition, the global primary aluminium industry is facing strong headwinds from the combination of low metal prices and high cost of raw materials, reflecting imbalances in the markets." The company said it's implementing "significant corrective measures" to offset the problems it faces in affected businesses. Shares closed Tuesday at...
The operators of New Zealand's only aluminium smelter would like some rain, and plenty of it. Decreasing water levels in the South Island hydro lakes has electricity spot market prices fluctuating. The price fluctuations mean power consumption at the Tiwai Point smelter has been reduced and production levels ramped downwards over the last couple of weeks. New Zealand Aluminium Smelters general manager Ryan Cavanagh is philosophical. "We just need to hope that lady luck shines our way with the weather, we can't control that but what we can control is how well we run the operation here and we're doing that to the best of our ability." But Mr Cavanagh says it's not the sort of start to the year they wanted - particularly as the goal is to beat last year's record production levels. He says...
A global aluminum surplus may shrink to the lowest level since 2007 as major producers cut output amid soaring energy costs and sluggish demand, said Japan’s third-largest trading house. Supply will exceed demand by 941,000 metric tons this year, down 42 percent from 1.61 million tons in 2011, said Shingi Yamagiwa, manager of light metals trading at Sumitomo Corp., which has stakes in smelters in Australia, Brazil, Malaysia and Indonesia. The surplus was 770,000 tons in 2007, he said. Aluminum, used in cars, packaging and houses, has declined 12 percent in the past year, hurting producers such as Alcoa Inc., Rio Tinto Group and United Co. Rusal, which are cutting output. Alcoa, the largest U.S. producer, reported its first loss in two years this month and said China may use 70 percent of...
Norsk Hydro ASA will write down the value of certain fixed assets by approximately NOK 1.3 billion, affecting its fourth-quarter 2011 results. The impairments are a result of a weakening in certain markets and low prices, in combination with raw material and currency pressures. Hydro continues to implement significant corrective measures to address the challenges in the affected businesses. "Over the past quarters, we have seen a worsening in some markets, especially in southern Europe, where we have a significant exposure in our extrusion business. In addition, the global primary aluminium industry is facing strong headwinds from the combination of low metal prices and high cost of raw materials, reflecting imbalances in the markets," said Hydro's President and CEO Svein Richard...
Vedanta Resources today reported a decline of 4.72 per cent in consolidated gross profit at $848.40 million for the quarter ended December 31, 2011, largely due to lower realisations from its aluminium business and Zambian copper operations. In a statement, the company said the gross profit or EBITDA also includes $131 million earned from Cairn India, which was acquired by Vedanta group last year. The company had reported its earnings before interest, tax, depreciation and amortisation (EBITDA) at $898.4 million during the corresponding quarter of 2010-11. The gross revenues of the company, during the quarter under review, were at about $3.399 billion, marking a rise of about 10.81 per cent as compared to $3.068 billion of the Q3 of 2010-11. However, lower London Metal Exchange (LME)...
Dubai: Contractor Arabtec yesterday announced Dh265 million worth of projects in Abu Dhabi, including two in the Western Region. The deals include the Dh110 million expansion of phase seven of the Ruwais refinery, a Dh30 million contract to build a training centre for Abu Dhabi Polymers and a Dh116 million smelter project for Emirates Aluminium. Arabtec executives were unavailable to comment yesterday, but analysts commenting on the announcement said they reflect a shifting focus of Abu Dhabi's construction away from major commercial projects and towards infrastructure and mining. "We have been saying for a while that there will be a shift in development activity and spending away from commercial projects — offices and residential towers — to basic infrastructure, such as roads, railways...
LME aluminum for three-month delivery opened at USD 2,280/mt and hit USD 2,310/mt supported by gains in oil prices during initial trading on Tuesday. The metal dropped and closed down 1.15% at USD 2,248/mt, however, after US home and manufacturing data came out missing expectations and causing more worries towards US economic recovery. Latest LME aluminum stocks dropped 2,050 mt to 4.99 million mt. The US dollar index standing steady above 79 has been weighing on aluminum markets. SMM expects LME aluminum to struggle at the 10-day moving average and move between USD 2,200-2,270/mt during today’s trading. The most active SHFE aluminum contract for delivery in April is expected to dip to RMB 16,200/mt and move between RMB 16,200-16,310/mt. In the face of weak downstream demand and wide...
Today, shares of Aluminum of China (NYSE:ACH) have crossed bearishly below their 10-day moving average of $12.94 on a volume of 190K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term. Aluminum of China share prices have moved between a 52-week high of $25.88 and a 52-week low of $10.34 and are now trading 17% above that low price at $12.11 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 1.6%. SmarTrend is monitoring the recent change of momentum in Aluminum of China. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Aluminum of China in search of a...
One of today's stocks on the move is Noranda Aluminum (NYSE:NOR), down 3.2% to $10.63. The Dow is down 0.8% to 12,565 and the S&P is currently down 0.9% to 1,305. Noranda Aluminum Holding Corp is an integrated producer of aluminum products, as well as rolled aluminum coils. The Company produces aluminum products in the form of billets, rods and sows, used mainly for building construction, architectural and transportation applications. Noranda also produces foil and light gauge sheet products from its rolling mills. Noranda Aluminum (NYSE:NOR) has potential upside of 13.7% based on a current price of $10.63 and analysts' consensus price target of $12.08. The stock should hit resistance at its 200-day moving average (MA) of $11.32, as well as support at its 50-day MA of $8.70. Noranda...
