Aluminium prices drift higher as September peak season operations recover amid low inventory
Futures: The most-traded SHFE aluminium contract opened at RMB 24,400 per tonne in the night session on September 7, reached a high of RMB 24,470 per tonne and a low of RMB 24,335 per tonne, and closed at RMB 24,450 per tonne, up 30 from the previous close, a gain of 0.12 per cent. Prices traded...
Macro disturbances cap upside room, while destocking continues to support aluminium price stabilisation
Futures: The most-traded SHFE aluminium contract opened at RMB 24,240 per tonne in the night session on September 4, with a high of RMB 24,355 per tonne, a low of RMB 24,220 per tonne, and a close of RMB 24,320 per tonne, up 0.12 per cent from the previous close. Futures stabilised and rebounded,...
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India's NALCO sells aluminium at $225/T premium
India's state-run National Aluminium Co (NALCO) has sold 12,000 tonnes of aluminium ingots at $225 per tonne premium over the average LME cash price on a cost, insurance and freight (CIF) basis, company sources said on Friday. The metal will be shipped to the Hong Kong based buyer in six batches of...
China issues tenders to buy 160,000 tonnes of primary aluminium ingots from local smelters
China’s State Reserves Bureau (SRB) has issued tenders to buy 160,000 tonnes of primary aluminium and 150,000 tonnes of zinc ingots from local smelters, sources said, the first clear sign Beijing is resuming metals stockpiling. The sources, who received the tender notices, said the reserves body...
South Korea buys 4,000t of aluminium at $222-247 premiums
South Korea has bought 4,000 tonnes of aluminium ingots at premiums of $224-249 per tonne on a cost, freight and insurance (CIF) basis, the state-run Public Procurement Service (PPS) said. PPS, which manages South Korea’s strategic commodities, bought 2,000 tonnes of LME Indian-origin ingots from...
China's Domestic Aluminum Price Move in Uptrend
The industrial distribution of aluminum manufacturing enterprises has moved to the West. With the application of captive power plant, the real production cost of aluminum ingots was lower than market expectation. Since captive power plants occupied large ratio, production cost was up only 1-1.3%....
India's NALCO raises aluminium prices by 1,500 rupees/T
India's state-run National Aluminium Co Ltd (NALCO) has raised aluminium prices by 1,500 rupees per tonne across all products in the domestic market, company sources said on Friday. The basic price of standard aluminium ingots after the latest revision increased to 136,700 rupees per tonne. NALCO,...
Japanese trading houses not buying primary aluminum despite supply easing
Japanese trading houses are not buying primary aluminum ingot from the spot market despite supply easing, market sources said Wednesday. Supply on a spot basis was available due to non-Japanese customers reducing order volumes and spot demand in Asia not as strong as previously expected, the...
Iran aluminium ingot output to reach 910,000 tons by March 2016
Iran plans to increase its annual aluminium ingot production capacity up to 910,000 tons by the end of the Fifth Five-Year Economic Development Plan (March 2016), the IRNA News Agency reported. Iranian Deputy Minister of Industry, Mine and Trade Vajihollah Ja'fari said in May that Iran's aluminium...
LME aluminum should move between USD 1,970-2,010/mt: SMM Morning Review
Growing risks of the euro zone debt crisis and sluggish consumption against oversupply of spot aluminum ingot drove LME aluminum prices down. LME aluminum dipped to a low of USD 2,002.3/mt during the European session, falling most sharply among base metals. LME aluminum failed to rebound due to...
Alcoa Adopts New Pricing Mechanism Tied to Physical Ingot Premiums
It was inevitable, really – we have written several times this year on the rising spot premiums for physical delivery of primary aluminum ingot. Japan has seen the greatest surge in premiums, but Europe and even the U.S. Midwest ingot price have not been far behind. Of course in the U.S., consumers...
Aluminum Ingot output exceeds 140,000 tons
Aluminum ingot production reached 140,100 tons during March 20-August 21, announced a senior official of the Ministry of Industries, Mines, and Trade. Mohammad Fatemian also said that alumina powder output rose to 91,200 tons, IRNA reported. He added that cathode copper output reached 93,600 tons...
SMM Aluminum reports Price Forecast for Sept
LME aluminum prices soared in the first half of this month, while SHFE 1212 aluminum contract prices rose much slower. Last week, LME aluminum prices extended losses, down nearly 4%, whereas the most active SHFE aluminum contract proved resilient, down a mere 1%. The most-traded SHFE aluminum...
Hydro agrees to sell Taiwan remelter
Hydro has entered into a binding agreement to sell its aluminium remelt plant in Taiwan to Ting Sin Metal Co. Ltd. The transaction is expected to close during October. Hydro invested in the remelt plant in March 2008, and the company is a fully owned subsidiary. Ting Sin Metal Co. Ltd., a company...
Mexican-based Faeza Alloyers Invests $7.56 Million In Indiana Manufacturing Facility
Mexican-based Faeza Alloyers U.S.A., a metal alloys manufacturer and fabricator, will invest $7.56 million to build its first U.S. facility in Shelbyville, Indiana. The Chalco, Mexico-based company, which specializes in producing alloys with zinc and aluminum bases for the automotive industry, will...
Police recovers stolen aluminium ingots worth RM1 million in Malaysia
Johor police sprang into action after receiving a tip-off and recovered two trailers containing aluminium alloy ingots stolen from a factory in the Tebrau Industrial Estate here last Thursday. At a press conference at the state police contingent in Johor Baru recently, state police chief Datuk...
India's NALCO sells aluminium at $242/T premium
India's state-run National Aluminium Co (NALCO) has sold 3,000 tonnes of aluminium ingots at $242 per tonne premium over the average LME cash price on a cost, insurance and freight (CIF) basis, two company sources said on Thursday. The metal will be shipped to the Singapore-based buyer in six...
China's domestic ADC12 alloys slip on weaker ingot prices
China's domestic offers for aluminum alloy ADC12 slipped on the week on the back of the persistent weakness in aluminum ingot prices, industry sources said Tuesday. This is in addition to the weak buying interest in view of the summer lull when plants carry out their scheduled maintenance. Leading...
Rio Tinto not to lift force majeure on Asia aluminum supply
Rio Tinto Alcan has no immediate plans to lift a force majeure on primary aluminum shipments to customers in the Asia Pacific, spokesman Bryan Tucker said late Monday, although quality problems at the Sohar Aluminium joint venture smelter has been brought under control. The smelter is turning out...
Indonesia still suffers shortage of aluminum supply
Indonesia is still suffering from a shortage in aluminum supply as PT Asahan Indonesia Aluminium (Inalum), the only aluminium smelter in Southeast Asia, is only able to produce up to 260,000 tonnes a year while the domestic needs reach 800,000 tonnes, ANTARA news agency quoted an official as...
