From black shale to smelter feed: CEM advances North American alumina supply chain
Canadian Energy Metals has demonstrated a process for producing smelter-grade alumina from Saskatchewan black shale and has started a prefeasibility study for its Thor Project. Canadian Energy Metals Corp. (CEM) has taken a step towards developing an alternative North American source of alumina...
LME aluminium price chart rises further to $3,325/t; stocks remain stable
The London Metal Exchange (LME) aluminium price chart continues to record an upward trend across the pricing and contract segments on the September 8 trading session, reporting gains over the September 7 close . Opening stocks remained stable, not reporting any further decline. The LME aluminium...
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China’s alumina imports plunge 72% YoY in May
China Customs data show that China imported 200,000 mt of alumina in May, down 72% YoY and 38% MoM. YTD imports through May totaled 1.56 million mt, also a drop of 28% from the same period last year. SMM attributes the sharp decline in alumina imports to domestic aluminum smelters cutting...
Falling domestic alumina prices at ports set to eat into China’s imports
SMM’s survey found that alumina prices at ports are around RMB 2,600/mt in mid-to-late May, down RMB 50-100/mt from April. SMM has learned from alumina traders at Lianyungang port that continuously falling domestic alumina prices are forcing them to cut imported alumina prices. This is because...
India's NALCO sells 30,000 T alumina at around $330/T
India's state-run National Aluminium Co Ltd (NALCO) has sold 30,000 tonnes of alumina at around $330 per tonne free on board (FOB) to a Singapore-based buyer, company sources said on Wednesday. The alumina will be shipped at the end of this month, said the sources at India's third-largest aluminium...
China’s alumina imports up 14.3% YoY in April
Data from China Customs show that China imported 320,000 mt of alumina during April, up 14.3% YoY and 120,000 mt MoM. YTD imports through April totaled 1.36 million mt, down 5.6% YoY. SMM attributes the rebound in China’s alumina imports in April to falling Australian alumina prices. The FOB price...
Commissioning of new alumina capacity delayed against depressed alumina prices
Construction of some new alumina capacities in China slowed against sluggish alumina prices and production cuts at aluminum smelters. One alumina producer in Henan told SMM that it will postpone the commissioning of newly-built 600,000 mt/yr alumina capacity to August from originally scheduled...
Alumina prices in China decline further in May
SMM data indicate that settlement prices for alumina long-term contracts in May are RMB 2,483/mt, 17% of the closing prices of SHFE three-month aluminum contracts. The price is RMB 25/mt lower than in April, and also down RMB 102/mt from January. Domestic alumina prices stabilized before and after...
Norsk Hydro first quarter result up on higher volumes and prices
Hydro's underlying earnings before financial items and tax rose to NOK 1,077 million in the first quarter, from NOK 172 million in the fourth quarter 2012. Higher alumina, aluminium and power prices, increased sales volumes and improved margins contributed to underlying results. "We continue to see...
Alumina Limited's shares downgraded by Credit Suisse
Credit Suisse downgraded shares of Alumina Limited from a neutral rating to an underperform rating in a report issued on Tuesday. Alumina Limited traded down 1.48% on Tuesday, hitting $4.325. Alumina Limited has a 1-year low of $2.65 and a 1-year high of $5.26. The stock’s 50-day moving average is...
Alcoa sees rise in profits as aluminium industry strengthens
Alumina Ltd’s share price was up sharply on news that Alcoa, with whom Alumina are in a joint venture, saw a big jump in first quarter profits. The US company Alcoa reported a 59 per cent increase profits for the first quarter compared to the corresponding period, reports AAP. Alumina’s CEO John...
Deutsche Bank maintains a Buy rating on Alumina Limited
Deutsche Bank today maintained a Buy rating on Alumina Limited. Analyst Paul Young said he expects a bumpy Q2 but thinks fundamentals remain strong. "Importantly we expect a rebound in the alumina price in 2H (to US$350/t) on tightening fundamentals (stronger demand and cost push in China) and...
Alumina gets boost from Alcoa
Shares in Australia’s Alumina are soaring after its joint venture partner Alcoa signalled that the aluminium industry had turned around, with a jump in profit. The US aluminium giant Alcoa reported a 59 per cent rise in first quarter earnings. Alumina’s shares were up 6.25 cents, or 6.22 per cent,...
Shares of indebted Bosnian alumina plant suspended
The Banja Luka Stock Exchange on Monday suspended trading in the heavily indebted alumina plant Birac ad Zvornik, which is subject to bankruptcy proceedings, for 11 days, it said on its website. The government of Bosnia's autonomous Serb Republic ordered the tax authority at the weekend to launch...
FOB price for Australian alumina down to $322/mt
The FOB price for Australian alumina has been dragged down by falling LME aluminum prices to USD 322/mt, down USD 6/mt or 1.83% from before the Chinese Qingming holiday. LME aluminum prices have dropped to USD 1,880/mt from USD 2,174/mt on February 25, 2013, a decrease of nearly 13.52%. Alumina...
Orbite Aluminae trading at $0.99
On Thursday, the top TSX mover was Orbite Aluminae Inc. The stock lost 9.2% and was trading at $0.99 on volume of 3.6 million. On April 3, the alumina producer filed a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada. The...
Alcoa Inc's first quarter estimate below consensus
Alcoa Inc’s earnings for the first quarter could be lower than consensus although higher alumina prices offset aluminum. Analysts at Macquarie Equities Research expressed concern over the company’s reliance on productivity gains although Macquarie Equities Research analysts, Aldo Mazaferro and Luke...
Alumina Ltd lost 0.43% at $4.59
Alumina Limited lost 0.43% at $4.59 after trading over 602,000 ADRs. It is a leading Australian company listed on the ASX and the NYSE, and invests world-wide in bauxite mining, alumina refining and selected aluminium smelting operations through its 40% ownership of Alcoa World Alumina & Chemicals,...
Shandong Nanshan Aluminum’s alumina business down nearly 9% YoY"
According to Shandong Nanshan Aluminum’s 2012 annual report, the company reported RMB 14.87 billion in operating revenues in 2012, up 11.57% YoY. However, its profits declined 28.72% YoY to RMB 985 million and net profits attributable to its parent company also dropped 32.39% YoY to RMB 691...
Alumina's shares trading down at lower prices
Shares of Alumina are trading down 3.1% to $5.02 today on above average volume. Today's volume of 495,000 shares tops the average 30-day volume of 327,000 shares. Spikes in volume can validate a breakout or signify a potential turning point. In the past 52 weeks, shares of Alumina have traded...
