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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Romania must be willing to back the important industries such as steel-making, aluminium-making and the fertilizers industry in the face of the competition based on fuel dumping prices, given that job creation is genuine gold at times of crisis, Romanian President Traian Basescu says. In remarks made at the Jubilee Gala of the National Association of Romanian Exporters and Importers (ANEIR) on Monday, Basescu said: 'Gold is represented by the capability to create or maintain jobs, which bring production and revenues to the state budget, not the Rosia Montana gold. We should examine the support we could render the steel, aluminium and fertilizers industries and what the state can do to keep the production facilities working'. The head of state spoke of the danger being faced by the...
Nigeria’s Senate voted for the cancellation of the sale of 12 state-owned companies, including an aluminum smelter sold to United Co. Rusal Plc of Russia and a steel company bought by Global Steel Holdings Ltd. of India. The process of privatizing the companies “was marred by political interference and injustice,” according to a Senate investigative report approved by lawmakers yesterday in Abuja, the capital. “There was inadequate transparency and failure to comply with the privatization procedure.” The lawmakers want the affected companies to be “re- advertised for sale. President Goodluck Jonathan must endorse the decision for it to take effect. Rusal, the world’s largest aluminum producer, bought a 77.5 percent stake in the Aluminum Smelter Co. of Nigeria, or Alscon, based in Ikot...
Alcoa (NYSE:AA - News) announced today that Mark Davies has joined the company as President – Alcoa Global Business Services, responsible for implementing new Information Technology and shared services strategies and integrating them with procurement operations into a global organization capable of driving profitable growth for the Company. In this new role, Davies will be responsible for Alcoa’s Procurement, Shared Services, and Information Technology organizations. He will also be a member of the Company’s Executive Council, the senior leadership group responsible for setting strategic direction. “Mark Davies brings to Alcoa a track record of operational success and financial strategy. We’ll look to him to apply that winning combination in leading an organization that will enable our...
Aluminium Corp.of China Ltd(Chinalco), the listed unit of China’s biggest maker of the lightweight metal, slid 0.6 percent to 6.57 yuan. Shenyin & Wanguo Securities Co. lowered Chinalco’s earnings per-share forecast for this year by 38 percent to 0.05 yuan and for 2012 by 18 percent to 0.18 yuan, citing capacity expansion and rising costs from increases in power rates, Ye Peipei, Guo Peng and Xu Ruoxu, analysts at the Shanghai-based brokerage, said in a report yeaterday.
More shorts closed their LME aluminum positions overnight after inspiring economic data streamed out from the US, with total LME aluminum positions plunging 24,500 lots to the level a month earlier. This had supported a strong rebound in LME aluminum, which closed USD 22/mt or 1.1% at USD 2,021/mt, the intraday high. Most European and US investors have moved to the sidelines this last trading day before Christmas and deals therefore will turn even lighter. LME aluminum may lack the momentum to move up further and will hover between USD 1,985-2,025/mt as it struggles at the 10-day moving average during today’s trading. SHFE aluminum for three-month delivery is expected to move between RMB 15,760-15,860/mt. Spot aluminum is expected to trade at discounts of RMB 10-50/mt over the SHFE...
Armtec Infrastructure Inc. ("Armtec") (TSX: ARF)(TSX: ARF.DB) today announced it has been awarded a contract, valued at approximately $32 million, with Bechtel Canada Co., who is acting as the agent for Rio Tinto Alcan, to supply precast components for the Kitimat Modernization Project.Manufacturing of these elements is expected to be completed over a two year time frame and is scheduled to get underway early in 2012. Rio Tinto Alcan's modernization project is a major expansion and upgrade of its aluminum smelter in Kitimat, B.C., with completion of the US$3.3 billion project expected in 2014. When completed, the fully modernized smelter will be equipped with leading-edge smelter technology that will increase production capacity by 48% to 420,000 tonnes from 282,000 tonnes, while reducing...
Nanostart (otcqx:NASRY)-holding ItN Nanovation AG, (ISIN DE000A0JL461) announces that RUSAL's IRKAZ, an aluminium smelter based in Irkutsk, and specialists from RUSAL's Engineering and Technology Center, have successfully tested Nanocomp Metcast, nanocoatings developed by ItN Nanovation AG (Germany). Nanocomp Metcast are innovative nanocoatings tailored to casting machinery. They extend the service life of molds and lengthen the intervals for maintenance of casting conveyors. As a result, the casting process becomes more efficient at a lower cost. Presently specialists from ItN Nanovation AG and RUSAL are studying large-scale introduction of Nanocomp Metcast at RUSAL's aluminium smelters. RUSAL would become the first Russian company to use innovative coatings from ItN Nanovation AG,...
November service center shipments grew at slightly slower rates for both steel and aluminum in the US and Canada. Steel inventory levels declined in the US and Canada from last month. US Service Center Activity 120.8 thousand tons of aluminum products were shipped by US service centers in November, an increase of 9.5% from the same month in 2010. For 2011 year to date aluminum shipments were 1,392.0 thousand tons, an increase of 15.5% from the same period in 2010. Inventories of aluminum products were 359.5 thousand tons at the end of November 2011, an increase of 3.4% over November a year ago and an increase of 0.4% from last month. At the current shipping rate, this represents 3.0 months of supply on hand, a decrease of 5.6% from a year ago. Canadian Service Center Activity 13.2...
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 (NYSE:NOR) is highest with forward earnings yield of 15.2%. 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...
SUPPORT is growing for the campaign to save Lynemouth’s Rio Tinto Alcan aluminium plant from closure. Further meetings have taken place between the General, Municipal, Boilermakers (GMB) union and MPs, and more than 770 people have so far signed petitions calling on the government to intervene. Concerns have been raised that if the smelter was to close, it would mean the loss of 512 jobs on site and 320 at various contractors, as well as affecting up to 3,000 jobs in the plant’s supply chain. A meeting was held on Friday as part of the Save Our Smelter campaign launched by the GMB and Mr Lavery was among those present. GMB regional organiser Keir Howe said: “Ian Lavery has been working tirelessly with the unions to try and Save Our Smelter, and the GMB is disappointed others have not...
While the much more than expected 489 billion euro loan from ECB overnight helped euro rebound, LME aluminum only hit USD 2,019/mt due to surging stocks. Further more, investors’ doubts whether such move can solve the European debt crisis and weaker than expected US existing home sales and euro zone consumer confidence index again pushed the US dollar index above 80, thereby dragging LME aluminum to close at USD 1,999/mt, down 3.3/mt or 0.16% from the previous trading day. As a new year nears, practical support is still lacked from the news side. Transactions in financial markets are cooling day by day as investors speed up to clear their holdings. As such, SMM expects LME aluminum to struggle near USD 2,000/mt and move between USD 1,960-2,010/mt during today’s trading. SHFE aluminum for...
MCX Aluminium is currently traveling around 105.10 (4:03 PM 20th December 2011) after making a low of Rs. 104.5, while volume is drying. Expected volatility may emerge after the data of Building Permits which are going to get released after 7:00 PM today which are anticipated to be marginally negative for the day (as far as base metals are concerned). Market turns little bit positive on German push to remodel Europe, let us see how market is reacting. However, we should also focus on the macro economic factor of Britain where the debt, which stood at 950%* of GDP, more than whole Europe which is around 450%* of its GDP. We can just have a glimpse of a worst economical situation where the world is going ahead because, handle the problem of Greece is controllable but for tackling the...
According to Reuters SHFE-LME opend the arbitrage window for first time since then investors and merchants will expand purchasing. China primary aluminum import may rise. Compared with the end of 2010 aluminum price in LME in March decreased 18% to 2,017.5 usd/ton. Owing to the reduced production in domestic also declined 6% in Shanghai at the same period.
Russia's aluminum output in January-November fell 1.7% compared with January-November 2010, the federal statistics service reported Tuesday. The statistics service doesn't give output volumes in tonnages, only the percentage change. Aluminum output in November increased 2.9% compared with November 2010 and fell 4.3% compared with October this year.
The decline in aluminum prices has already led to production cutbacks in China and will likely lead to more, providing a mildly bullish boost to the metal, Goldman Sachs said. The bank on Tuesday lowered its 12-month aluminum price forecast by 9.4% to $2,400 a metric ton from $2,650/ton previously, and kept its three-month outlook unchanged at $2,300/ton. Those are still well above current prices. The price of aluminum, used in the automotive, aerospace and construction industries, has tumbled along with other commodity prices in recent weeks and is trading at 2011 lows ...
The non volatile nature of Aluminium futures helped it to nullify some of the heavy selling days in the commodities. Still, Aluminium will take home more than 13% losses on benchmark London forwards contract in the year 2011. Demand outlook for 2012 has been dull and the predictions from some of the China Non Ferrous Metals Industry is that the demand will grow at a much slower pace in 2012 compared to 2011. World Aluminium markets were in surplus during Jan-October 2011 according to World Bureau of Metal Statistics (WBMS). The release showed that the World Aluminium markets were in surplus of 603800 tons in Jan-Oct 2011. The surplus in Jan-Oct 2010 was 691000 tons. Aluminium production in Jan-Oct 2011 was up by 5.5% or 1.89 million tons following a 3.92 million tons increase in full year...
The daily output of China primary aluminum reached to 48,900 tons while the total output decreased to 1466 thousand tons in November. According to IAI the primary aluminum daily output increased from 48,100 tons October to 48,900 tons November in China. On the other side, the total output dropped from 1,491 thousand tons to 1,466 thousand tons at the same period. Compared with the same period last year the output of primary aluminum increased to some extent. Last year, daily output of primary aluminum was 39,900 tons in November and total output was 1,197 thousand tons. From January to November in 2011, China primary aluminum reached to 16,285 thousand tons while 14,885 thousand tons the same period last year.
Northumberland, a county in northern England, does not usually feature on the radar screen for metals investors. Yet Lynemouth, the site of an aluminium smelter owned by Rio Tinto, is the latest flashpoint for a debate that was last heard in the depths of the 2008 financial crisis. The miner recently announced it would close the plant explaining that it was “no longer a sustainable business” due to rising production costs. As the prices of metals such as aluminium, nickel and platinum slump, recession economics is making a comeback in the metals markets. Investors are no longer just asking which metal is in more demand in China, but which metal’s price is so far below the cost of production that miners will have to shut down output. A tumble of as much as 25 per cent since the start of...
