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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Tajikistan decreased the volume of aluminum and cotton-fiber export as well as the import of flour, wheat and oil products in 2011, Avesta.tj quotes first deputy head of republic's Customs Service Negmat Rakhmatov as saying. The volume of imported wheat reduced by 3,900 tons, flour by 35,000 and oil products by 187,000 tons in 2011. Tajikistan decreased aluminum export by 60,300 tons and cotton-fiber export by 22,800 tons last year. Tajikistan exported 277,700 tons of aluminum in an amount of $664.5 million and 188,200 tons of cotton-fiber worth $197.7 million in 2011. The country's foreign-trade turnover made up $ 4.4 billion in 2011 increasing by 15.8 percent compared to 2010
Premiums for physical aluminium in Europe are set to rise further over the next few months as the impact of recent smelter shutdowns is felt in the market, raising costs for automakers and packaging companies. The closures will add to increasing pressure on premiums from financing deals, in which traders buy physical metal and simultaneously sell it forward at a profit, while striking a warehouse deal to store it cheaply in the interim. The deals, which have tied up most of the record 5 million tonnes of London Metal Exchange stocks, have recently become more profitable as the difference between nearby and forward prices has widened. "I think premiums are up because of the spreads and because of the cutbacks that have been announced in the UK, Spain and Italy. Over the next few months I...
The global aluminium market was in surplus by 859,900 metric tons in January to November, the World Bureau of Metal Statistics said Wednesday. The gap between supply and demand was greater than in the same period of 2010, when the market had recorded an oversupply of 825,900 metric tons, the WBMS said. Demand for primary aluminum in the first 11 months of 2011 totaled 39.14 million tons, up 2.279 million tons on the same period of 2010. However, production during the months rose by 2.313 million tons, it added. The WBMS did not provide a total number for production.
Aluminum inventories topped a milestone level Tuesday, although Chinese output cuts may be coming, said Commerzbank said in a research note. Metal stored in London Metal Exchange warehouses climbed above 5 million metric tons the first time ever Tuesday. “In principle, this is probably due to reshuffling of existing material that was previously held outside the exchange-registered warehouses and has now been transferred to them, thus making it visible,” the bank addded. Nevertheless, analysts say production in China also rose again recently despite lower prices and higher energy costs. The National Bureau of Statistics says December output expanded by around 15% year on year. “This is likely to be only a temporary measure, however; we expect the next few months to bring further or new...
Indian state-run National Aluminium Co Ltd (NALCO) sold 9,000 tonnes of aluminium ingots at close to $96 per tonne premium over the average LME cash price on a cost, insurance and freight basis, a senior company official said on Thursday. The metal will be shipped in six batches of 1,500 tonnes each from January to June to an unidentified European trader, Ansuman Das, commercial director at NALCO, told Reuters. NALCO, whose tenders serve as a global benchmark, in November sold 9,000 tonnes of aluminium ingots at $89 per tonne premium over the average LME cash price. LME aluminium prices were up 1.03 percent at $2,227.75 a tonne by 1230 GMT.
UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUALR), the world's largest aluminium producer, announces the development and launch of a unique magnetic hydrodynamic mixer which will enable the Krasnoyarsk aluminium smelter's cast house to extend its alloy product range. The cost of the new equipment amounts to USD 2 million. The magnetic hydrodynamic mixer will enable the Krasnoyarsk aluminium smelter (KrAZ) to produce 1000, 3000, 5000 and 8000 series alloys and to increase the production quality. In particular, the new inductor can mix metal in 100-tonne holding furnaces with the use of a magnetic field, without the metal inside ever being touched. As a result, the smelter will produce top quality rolling slabs, which can be used for cans and printing production. The...
With the government agreeing to consider Sterlite’s fresh offer to buy the residual stake in Bharat Aluminium Company Ltd (Balco) at a mutually agreeable price, a resolution of the long stand-off between Vedanta Resources and the central government is in sight. Sources familiar with the development said this would pave the way for Hindustan Zinc Ltd’s (HZL’s) stake buy, as well. They said the company was looking to push the government to sell its 29.5 per cent stake in HZL at the same time. A company official close to the development told Business Standard that Sterlite, an arm of Vedanta, had been looking to buy the government’s stake in HZL for a long time. “With the two parties finally heading somewhere with regard to the Balco stake pricing, Vedanta is keen to push for HZL’s stake,”...
Alcoa AA -0.20% announced today that its Board of Directors has appointed Sir Martin Sorrell, 66, a director of the company. Sorrell is founder and Chief Executive of WPP, the world's largest advertising and marketing services group with 2,400 offices in 107 countries. Sorrell founded WPP in 1985 and, through acquisitions and strategic investments, the Group's worldwide companies have grown to include some of the most well-known agencies in the communications services business including: JWT, Ogilvy, Young & Rubicam and Grey, GroupM, Burson-Marsteller, Hill & Knowlton, and Wunderman, amongst others. WPP clients include more than half of the Fortune Global 500 companies, a majority of the NASDAQ 100 and 33 of the Fortune e-50 firms. In 2010, WPP had revenues of $14.4 billion and billings...
While news out of Alcoa initially sounded pessimistic earlier this month, it appears there are some opportunities in the coming year for aluminum production. Alcoa recently announced it was curtailing production and shutting down a facility in Tennessee. The price of aluminum had dropped because there was too much capacity. Later Alcoa struck a more optimistic tone, saying it expects demand to increase in 2012, which, in combination with curtailing some production, might raise the price of aluminum. That's not necessarily good for consumers, but the increased production is important for facilities like Alcoa Intalco Works in Ferndale. Heidi Biggs Brock is also optimistic about aluminum production because of several new opportunities for the industry. As president of The Aluminum...
United Co. Rusal, the world’s largest aluminum producer, agreed to pay additional margins on a $4.75 billion loan after banks granted the company greater leeway on the terms of its debt. “The company will have the option to introduce a 12-month covenant holiday, starting from any quarter in 2012, to allow it greater flexibility in the management of its financial ratios,” Moscow-based Rusal said today in a statement. The producer completed an $11.4 billion debt refinancing in October that involved borrowing $4.75 billion from 13 lenders including BNP Paribas SA and ING Groep NV. The company said last month it sought a “more flexible approach” to covenants given the prospect of “continuing weakness” in commodity markets. Rusal said today it agreed to pay a so-called supplemental margin...
United Co. Rusal (486), the world’s largest aluminum producer, filed a claim in a court in Russia’s Krasnoyarsk region challenging a $4.5 billion share buyback by OAO GMK Norilsk Nickel. The aluminum company wants the court to annul decisions by Norilsk’s board on Sept. 13 and Sept. 21, a statement on the court’s website shows. Norilsk’s board approved the start of the buyback by unit Norilsk Nickel Investment Ltd. at these meetings. Norilsk completed the buyback in November, during which it acquired 7.7 percent of the company from shareholders. Billionaire Oleg Deripaska’s Rusal, which holds 25 percent of Norilsk, opposed the deal, saying the program favored Vladimir Potanin’s Interros Holding Co., which controlled about 30 percent of the nickel producer before the buyback. Rusal’s...
BHP Billiton has used the platform of its December-half production report to remind the market that its nickel and aluminium divisions are not immune from the squeeze on profits caused by sharp declines in the metals' prices. The subtle warning that the market's earnings expectations for the two divisions could be too high confirms that BHP will not match its 2011 record profit of $US21.68 billion in the 2012 financial year, and that a result of about $US20 billion is more likely. It would be the first profit setback since earnings took off in response to the rebound in commodity prices that followed the global financial crisis and BHP's heavy investment in increasing production. Further squeezing profit expectations has been the collapse in US gas prices, a market to which BHP now has...
Vedanta group company Sterlite has favoured a mutually agreed price for buying back the Government's residual stake in aluminium company Balco. For Hindustan Zinc, it has requested adoption of the formula devised by the Securities and Exchange Board of India's (SEBI). At present, the Government has residual stake of 49 per cent in Balco and 29.53 per cent in Hindustan Zinc. Both the companies were strategically divested by the Government. A person familiar with the development told Business Line that “Sterlite has responded positively to the Government letter.” The letter was sent to Sterlite following the Empowered Group of Ministers' (EGoM) decision on November 30. The EGoM had decided to ask Sterlite to send a formal proposal in response to Vedanta Chairman, Mr Anil Agarwal's letter to...
Sales at Aluminium Bahrain (Alba), which owns the world's fourth-largest aluminum smelter, grew 1.3 percent in the fourth quarter of 2011 despite a challenging year, the company said on Wednesday. Bahrain was rocked by months of anti-government protests which began in February. The government's martial law, imposed in March, was lifted on June 1. Alba said sales were 227,042 tonnes in the fourth quarter, up from 224,054 tonnes in the same period a year earlier. "Alba's success is significant because 2011 was challenging for industries in Bahrain, and yet, this year Alba's sales and production demonstrated a consistent upward trend," Alba Chief Executive Laurent Schmitt said in a statement. "We are hopeful that Alba will witness another success story in 2012 with the active support of its...
Glencore, the world's largest commodities trader, will lose Steven Blumgart, one of its most senior executives, in the first significant departure since the company went public last year, the Financial Times newspaper reported on Thursday. Reuters could not immediately reach Glencore officials for comment outside regular business hours. Blumgart, who is co-head of aluminum trading and a member of the 13-strong management panel that runs Glencore's day-to-day business, will leave within the year, the paper said on its website, quoting people familiar with the matter. Gary Fegel, who until now has been co-head of aluminum, will take sole responsibility for the commodity, with Matthew Lucke and Andrew Caplan becoming deputies with responsibilities for aluminum and alumina, respectively, the...
LME aluminum market overnight went higher after opening USD 2,210/mt following a stronger euro from solid debt auctions by Spain. Later, the US dollar index advanced along with the US positive employment data and the news that Fitch may cut credit ratings of six eurozone nations. As a result, LME aluminum prices gave up earlier gains, down to USD 2,208/mt. In the evening, the euro strengthened against the dollar, helping support base metal prices. Finally, LME aluminum prices finished at USD 2,229/mt, up USD 15/mt, or 0.69%. Total positions were up 5,155 lots to 881,763 lots, and LME aluminum inventories stayed above 5 million mt, with a net increase of 75 mt yesterday. LME aluminum prices are expected to fluctuate between USD 2,210-2,150/mt due to a rising euro from positive debt...
Stocks of aluminium held in warehouses monitored by the London Metal Exchange jumped to a record of above 5 million tonnes, as stocks were delivered against the LME's January contract, in part to free up capital, market participants said on Tuesday. "We've been saying for a little while that there is a risk that these substantial aluminium stockpiles both on and off the exchange will be looking for a place to go, now that financing conditions in Europe become more problematic, "said analyst Nic Brown of investment bank Natixis Aluminium stocks jumped by 39,075 tonnes to 5,006,525 tonnes, according to LME data which represents movements one day in arrears. The build up was due to large shipments into the Dutch port of Vlissingen, and also Detroit in the United States, and came as the LME's...
Norwegian aluminium producer Norsk Hydro will close one of three production lines at its Kurri Kurri plant in Australia, taking 60,000 metric tonnes a year off the weak metals market, the company said on Wednesday. "Kurri Kurri is in a tough spot, and we need to take swift actions to reduce losses," Hilde Merete Aasheim, an executive vice president of Hydro, said in a statement. "Operation under current conditions is not sustainable," she added. "Curtailing one line gives some relief to the situation, but we need to consider whether this is enough." Kurri Kurri, fully owned by Hydro, has three production lines with a total annual production capacity of 180,000 metric tons of aluminium. Located near Newcastle in New South Wales, it employs about 500 people. The company said it was forced...
