Aluminium - Copperbelt Katanga Mining

Aluminum price sinks on China’s move to sell state reserves 1

Aluminum prices sunk on fears that Chinese authorities might release ingots to the market, further pressing rising supply concerns in the world’s top consumer of the metal. Aluminum for delivery in June was down 2.86% on Tuesday, after futures touched $2.229 a tonne on the Comex market in New York. The most-traded May aluminum contract on the Shanghai Futures Exchange dropped as much as 6% to 16,480 yuan ($2,531.33) a tonne, its lowest since February 22. It pared some of the losses later in the session to close 2.6% lower… Read More Here

Aluminium

Increasing supply from China to cap aluminum price – report

January 27, 2021January 27, 2021 admin

Expect to see a broader recovery in global aluminum demand alongside a forecast rebound in global economic growth, market analyst Fitch Solutions says in its latest industry report. An increase in global supply driven by a rise in Chinese exports, Fitch says, will limit the scope of the reduction in the production balance. Fitch maintains its 2021 aluminum price forecast of $1,850/tonne, up from $1,731/tonne in 2020 during the covid-19 pandemic. The analyst expects to see increasing supply from China in the global market, which will cap the rise in prices. Fitch expects to see a… Read More Here

Aluminium

China 2020 aluminum output climbs to record high

January 19, 2021January 19, 2021 admin

China’s aluminum production in 2020 rose 4.9% from the prior year to a record 37.08 million tonnes as smelters cashed in on soaring prices, with December output hitting a monthly all-time high even as the rally cooled. Primary aluminum production in December was 3.27 million tonnes, the National Bureau of Statistics (NBS) said on Monday. That was up 2.8% from 3.182 million tonnes in November, which had one less day, and beat the previous monthly record of 3.2 million tonnes in October. Full-year output in China, the world’s largest aluminum… Read More Here

Aluminium International

Metso Outotec sells aluminum business

December 29, 2020December 29, 2020 admin

Metso Outotec announced that it is selling its aluminum business to France’s REEL International for an undisclosed amount. In a press release, Metso said that the business to be divested comprises green anode plants, anode rod shops, and casthouses used in aluminum smelters as well as related equipment and services. The Finnish company said that upon closing of the transaction in Q1-2021, it is expected that some 120 Metso Outotec employees will join REEL. “It’s rare to find another business with such a complementary product portfolio in primary aluminum technology, and… Read More Here

Aluminium International

Aluminium demand growth will soon outpace production growth

November 3, 2020November 3, 2020 admin

Research agency Fitch Solutions Country Risk & Industry Research says the global primary aluminium market will remain largely in oversupply, owing to absolute production remaining higher than consumption this year, but the surplus is likely to start narrowing from 2021. This will remain the case up to 2024, before widening again from 2025. From 2025 onwards, Fitch expects the market oversupply to widen again, as demand will benefit from construction industry growth in key countries and the growing recognition of aluminium as a lightweight substitute for steel in automotive. Fitch further explains that global aluminium production will continue to rise over the coming… Read More Here

Aluminium Copper Global markets Iron Iron & Steel

Metals markets to move into surplus — report

May 13, 2020May 14, 2020 arnbethnic

Most metals markets will move into surplus in 2020 due to the covid-19 pandemic, according to Fitch Solutions latest market report. The research agency has revised down its forecasts for both consumption and production of metals for a number of countries over recent weeks. “Operational hurdles as a result of covid-19, especially for smelters located in countries where governments ordered lockdowns, and voluntary production curtailments as a result of the collapse in metal prices will result in lower 2020 metal production compared to our previous forecasts,” Fitch analysts say. The firm expects… Read More Here

Aluminium International

Key trends for aluminum in 2020

February 7, 2020February 11, 2020 Copperbelt Katanga News

China’s ability to absorb surplus, potential supply disruptions in the Middle East and the global energy transition are key to the outlook for aluminum in 2020, according to UK-based research and consultancy group Wood Mackenzie. Chinese capacity Wood Mackenzie forecasts more than 1 million tonnes of new aluminum smelter capacity to be added in 2020, with an estimated demand increase of only a third of that figure. While greenfield capacity commissioning and restarts will likely stay on target, high-cost smelters may buckle under the strain of low London… Read More Here