LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable. The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on...
Aluminium tariffs, not Trump’s alcohol ban, are the bigger threat to BC brewers
The escalating US-Canada trade conflict is putting pressure on the US alcohol industry from two directions. The BC wine and beer industry is facing fresh uncertainty as the US President Donald Trump proposed to block most Canadian alcoholic beverage imports from September 29, 2026. While British...
Grow with
AL Circle
Qatalum well- placed to meet aluminum demand, says CRU
Doha Primary aluminium smelters in GCC are competitive on global cost curve and companies such as Qatar Alumunium (Qatalum), have an excellent competitive position enabling it to remain profitable even in the current challenging market conditions, a report by London-based CRU has said. CRU is in...
Hindalco to mop up $500 million in QIP
Kumar Mangalam Birla-led Hindalco plans to raise $500 million (around INR 3,000 crore) through the qualified institutional placement of shares to raise funds primarily to repay part of its debt, said three people in the know. The floor price of the QIP that may hit the market next week could be INR...
China’s aluminum semis exports fall to 270,000 tons in May
China’s aluminum semis exports fell 6.90% to 270,000 tons in May from a year ago due to falling exports of plate/sheet, strip and flake, Shanghai Metals Market learned. The exports in May, virtually unchanged on a monthly basis, registered a 17.15% year-on-year drop of exports in aluminum...
Hindalco surges; CLSA says stock could double in 4 years
Hindalco Industries Ltd surges after CLSA upgrades the stock to "buy" from "sell" and raises its target price to 215 rupees from 110 rupees. CLSA says Hindalco's subsidiary Novelis Corp "will be a big beneficiary of the accelerating shift of global automakers from steel to aluminium given its...
Russia's Rusal seeks court approval for $3.6 bln debt deal
Russian aluminium giant Rusal has won another reprieve from lenders, extending a deadline to refinance $3.6 billion in debt to the end of October while it seeks court approval for a debt restructuring that is being blocked by a few creditors. Without the deadline extension, the world's largest...
Rusal seeks court approval for debt restructuring
Rusal is seeking court approval to force through its debt restructuring after failing to win unanimous backing from its creditors. The lenders blocking the restructuring of the Russian aluminium group’s $10bn debt pile are Royal Bank of Scotland, which is 80 per cent owned by the UK government, and...
Constellium NV given average recommendation of “Buy” by analysts
Shares of Constellium NV have been given a consensus recommendation of “Buy” by the thirteen ratings firms that are covering the company, Analyst Ratings Network reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy...
China’s Alumina imports plunge 90.4% MoM in May on waning demand
China’s alumina imports plunged 90.4% to 313,000 tonnes in May due to waning demand, Shanghai Metals Market learned. Chinese aluminum smelters preferred domestic alumina due to lower prices, curbing appetite for imports, SMM understood. The imports soared by 56.28% year-on-year, though, and...
Bauxite Resources CEO updates on where best to allocate shareholder funds
Bauxite Resources Video Q&A with Peter Canterbury CEO who explained that the company recently undertook a review to determine where best to allocate shareholder funds and have decided to pay a 4 cents per share capital return. After the AU$9.3 Million capital return, BAU retains AU$30 Million in...
Pressure on profitability of aluminium producers to continue
The power and automobile segments are expected to propel a slight recovery in domestic aluminium demand in 2014-15 after it shrank in 2013-14 on the back of stifled demand from these key end-user sectors, but profitability of domestic players will remain under pressure due to high input costs....
Aluminium sheet market on cusp of big growth
ALUMINIUM giants Alcoa and Novelis spent decades wooing Detroit’s vehicle makers to toss out their heavy steel vehicle bodies and overhaul their factories in order to mass produce vehicles made out of lighter aluminium. This year, with Ford Motor ’s launch of its new aluminium-intensive F-150...
Aluminium gains at 0.91%, trading range is 108.2-112.6
Aluminium settled up 0.91% at 110.75 finished higher on demand hopes after European car sales rose for the ninth consecutive month in May and as China’s Premier Li Keqiang said he is confident that China will meet its economic growth target of 7.5% this year. Three-month aluminum on the London...
Aluminum rising, production cuts creating demand
A strong demand outlook for aluminum will offset oversupply and lend support to prices in 2015, according to Caroline Bain, senior commodities economist at Capital Economics. BNAmericas reported that the aluminum market has been in surplus from 2007 to the present due to large increases in capacity...
Aluminium industry's future looks bright despite the challenges, says EGA
The global aluminium industry will have to confront several major challenges as it looks to sustain its steady growth trajectory through 2020 and beyond. So said Walid Al Attar (Chief Marketing Officer: Emirates Global Aluminium PJSC ("EGA")) in an address entitled "Why the aluminium market stands...
Rusal’s action a vote of confidence for CME aluminum futures contract
Last week, the world’s largest producer of aluminum, UC Rusal, began giving its customers the option of using the CME Group ‘s Chicago-based aluminum futures contract to set prices for its products. CME began offering the contract in May, after widespread dissatisfaction with the warehouse...
India e-scrap volumes set to grow
Discarded electronics are poised to provide a growing source of secondary commodities within India, according to a recently published report by TechSci Research called India E-Waste Management Market Forecast & Opportunities, 2019. Noida, India-based TechSci Research says India’s e-scrap market “is...
Rise in aluminium use to benefit PRESS Metal Bhd
PRESS Metal Bhd expects to benefit from an improving upstream aluminium market which is now in deficit after years of oversupply, according to group chief executive officer Datuk Paul Koon Poh Keong. He notes that there are no new smelters coming up in the next two to three years, a key factor...
Aluminium prices poised to outperform: Ventura
Aluminum demand continues to rise as in addition to traditional uses, the metal is being increasingly used as a substitute for the more expensive copper in electric cabling and for steel in cars. The demand from these segments will increase by 4.9% in 2014, to 52.7m tonnes. Demand is expected to...
