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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Government plans to invest up to $1.3 billion in Indonesia Asahan Aluminium
The government plans to invest up to Rp 12 trillion ($1.3 billion) in Indonesia Asahan Aluminium, which engages in smelting and producing aluminum, in order to boost its output and prepare the company for an initial public offering, a top minister said. Hatta Rajasa, Indonesia’s chief economic...
Nalco to continue taking a premium over London Metal Exchange (LME) prices
State-owned National Aluminium Company (Nalco) expects to continue to rake in a premium over benchmark London Metal Exchange (LME) prices of aluminium by catering to demand from deficit regions. “We have contracted to sell a batch of up to 8,000 tonne of alumunium in Europe till February at a...
EMAL launches Foundry Ingots to its Product Portfolio
EMAL has announced the launch of a new added value product in 2012: foundry aluminium which is mainly used in the automotive sector. The addition of foundry to EMAL's portfolio is part of its long term vision of producing more value added products as it develops into one of the world's largest...
Indian companies getting high premiums despite low aluminum price
Vedanta Resources said it has sold 3,000 tonnes of aluminium ingots at a premium of $220 a tonne over the London Metal Exchange (LME) price in the Asian market. India's state-run National Aluminium Company (Nalco) has also sold 8,000 tonnes of aluminium ingots at a premium of $202.80 per tonne...
Hundreds celebrate 60th anniversary of Alcoa’s Wenatchee smelter
Hundreds of people took a lengthy stroll through Alcoa’s Wenatchee Works smelter Saturday to see the inner workings of one of North Central Washington’s largest employers. They dipped their hands in alumina — the white liquid-looking raw material used to make aluminum — and was surprised when their...
NALCO sells aluminium at $203 per tonne premium
India's state-run National Aluminium Co (NALCO) on Monday said it has sold 8,000 tonnes of aluminium ingots at close to $203 per tonne premium over the average LME cash price on a cost, insurance and freight (CIF) basis. The metal will be shipped to a European buyer in eight batches of 1,000 tonnes...
Vedanta sells aluminium at a premium of USD 220 a tonne over LME Price
London-listed mining group Vedanta Resources today said it has sold 3,000 tonnes of aluminium ingots at a premium of USD 220 a tonne over the London Metal Exchange Price in the Asian market. "Vedanta Group, India's largest Aluminium producer, has recently sold 3,000 metric tonne of Aluminium Ingots...
Iran's two-month aluminum ingot output exceeds 57,000 tons
Aluminum ingot output hit 57,600 tons in Iran during the first two months of the current calendar year, which began on March 20, the IRNA News Agency reported. The output stood at 28,900 tons in the second calendar month, the report added. Aluminum powder production amounted to 37,700 tons in the...
NALCO issues tender to export 8,000 tonnes of aluminium
The state-run National Aluminium Co. Ltd.(NALCO) has issued a tender to export 8,000 tonnes of aluminium ingots, Commercial Director Ansuman Das said on Tuesday. The last date for submission of bids is June 22. The metal will be shipped in eight batches of 1,000 tonnes each from July to Feb, Das...
US Aluminum Midwest Ingot Price is riding high over the LME cash price
US buyers could be forgiven for wondering what on earth is going on with aluminum prices. The LME quotation at $1950 per metric ton for cash and not much more for 3-month delivery is deeply in the global cost curve for aluminum smelters, suggesting a market in dire oversupply — a position supported...
SHFE aluminum contract for September settled up RMB 60/mt at RMB 15,925/mt on Monday: SMM Daily Review
The most active SHFE aluminum contract for September delivery started slightly higher at RMB 15,925/mt and settled up RMB 60/mt or 0.38% at RMB 15,925/mt on Monday. Positions added 2,366 lots to 99,414 lots. Sluggish spot aluminum consumption dragged on SHFE aluminum’s rebound; short term...
NALCO is charging premium Aluminum Price to cope with losses
In the last couple of months, NALCO has been charging a more than $150 per ton premium on its export tenders. Bagra felt that prices would swing between the $2,100 and $2,300 mark until the end of 2012. Reuters had reported on May 11 that NALCO had sold 12,000 metric tons of aluminum ingots at a...
Japan's Daiki Aluminium seeks cheaper production sites abroad
Japan's Daiki Aluminum is seeking cheaper production sites overseas following local car makers who have already been forced abroad by an increasingly strong yen, shrinking domestic output and competition from China and South East Asia. The country's largest aluminium alloy producer, which produces...
Spot aluminum traded at RMB 15,950-15,980/mt in Shanghai
The most active SHFE aluminum contract for September delivery started lower and settled down RMB 55/mt or 0.34% at RMB 15,980/mt after a struggle near the RMB 16,000/mt mark. The trading range was only RMB 30/mt. Transactions were less than 10,000 lots due to cautious trading at month’s end....
SHFE aluminum settled up RMB 50/mt at RMB 16,045/mt on Monday: SMM Daily Review
Supported by slight gains in LME aluminum prices overnight, the most active SHFE aluminum contract for September delivery opened higher at RMB 16,030/mt, and settled up RMB 50/mt or 0.31% at RMB 16,045/mt on Monday, after a narrow struggle in RMB 16,020-16,040/mt. Positions added 4,158 lots to...
Japan's third quarter aluminum premium settled at $200-210/mt
Premiums for imported primary aluminum products in the third quarter have settled at $200-210/mt plus LME cash CIF Japan last week, four Japanese market participants involved in the negotiations said Monday. One deal for over 500 mt/month of minimum 99.7%-grade primary aluminum ingot was confirmed...
NALCO issues 10,000 tonnes aluminium export tender
Indian state-run metals maker National Aluminium Co Ltd has issued a tender to export 10,000 tonnes of aluminium ingots. The last date for submission of bids is May 28, the company said in a posting on its website late on Monday. NALCO, whose tenders serve as a global benchmark, last week sold...
Rio Tinto Alcan offers a premium of $200/mt plus LME cash for aluminium export to Japan
Negotiations for premiums for primary aluminum ingot to be exported to Japan in the third quarter have started, with Rio Tinto Alcan offering a premium of $200/mt plus London Metal Exchange cash CIF Japan, sources said Monday. A representative from a second global producer, who will be meeting with...
