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R/€ = 14.79 Change: -0.02
R/$ = 11.95 Change: -0.02
Au 1346.69 $/oz Change: 0.51
Pt 939.00 $/oz Change: -4.63
 

Aluminium News

Sanctions fallout upends metals as aluminum, nickel burst higher

By: Bloomberg     Updated 5 hours ago The turmoil unleashed by US sanctions against United Co. Rusal reverberated in metals markets, sending aluminium and nickel to multi-year highs. Global metals markets have been rocked for the past two weeks by the clampdown on Russia’s Rusal, which set off a rush for alternative supplies and... 

Canada's Alouette aluminium smelter denies force majeure rumours

By: Reuters     18th April 2018 The Alouette aluminium smelter in Canada, the biggest in the Americas, does not plan to declare force majeure, a spokesperson said on Wednesday, denying a market rumour. There was speculation in the market that Alouette may have to take the measure due to a shortage of raw material alumina. 

Russia sanctions throw aluminium supply chain into chaos

By: Bloomberg     18th April 2018 The US sanctions on United Co. Rusal that have sent aluminium prices surging should be great news for rival producers like Rio Tinto Group. Spoiler alert: they’re not. 

Rio Tinto flags changes to 2018 aluminium output after US sanctions

By: Reuters     18th April 2018 Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminium output following US sanctions on its Russian partner Rusal earlier this month. Rio, which reported a 5% rise in first-quarter iron ore shipments in the March quarter, has declared force majeure on some customer... 

Rio Tinto flags changes to 2018 aluminium output after US sanctions

US Commerce Dept finds aluminium sheet imports from China subsidized – US trade group

By: Reuters     18th April 2018 The US Commerce Department on Tuesday made a preliminary determination that aluminium sheet imports from China benefit from unfair subsidies, the aluminium Association said. The Commerce Department calculated preliminary subsidy margins ranging from 31.20 to 113.30 percent of the value of the... 

Rio Tinto moves to comply with US sanctions, declares force majeure on Rusal contracts

By: Esmarie Swanepoel     16th April 2018 Mining major Rio Tinto will declare a force majeure on certain contracts with the world’s second-largest aluminium producer, United Company Rusal, after the US government imposed sanctions against a number of Russian businessmen and corporations. Rio told shareholders that the company had... 

Rio to call force majeure on some Rusal-linked contracts

By: Reuters     14th April 2018 Rio Tinto said it will declare force majeure on certain customer contracts after the US imposed sanctions on its partner Russian aluminium producer Rusal. The mining group said on Friday it was working with its customers to minimise disruptions to supply and would fully comply with US sanctions. 

First ‘Resources for Future Generations’ conference to be held in Vancouver

By: Henry Lazenby     13th April 2018 The Resources for Future Generations conference (RFG2018) is scheduled to make its debut on the Canadian resource conference circuit between June 16 and 21, in Vancouver, and is shaping up to be an event unlike the myriad of competing forums held in Canada throughout the year. RFG2018 chairperson... 

First ‘Resources for Future Generations’ conference to be held in Vancouver
Photo by Resources for Future Generations Conference
RFG2018 chairperson John Thompson

BMI raises 2018 aluminium price forecast on Chinese supply constraints

By: Marleny Arnoldi     13th April 2018 The aluminium price is forecast to strengthen this year, as the demand outlook continues to improve and prices are kept elevated owing to the expectations of Chinese supply constraints, says Fitch Group-affiliated BMI Research.  

Goldman Sachs says you must own commodities in these tense times

By: Bloomberg     13th April 2018 The case for owning commodities has rarely been stronger, according to Goldman Sachs Group. With raw materials rallying on escalating political tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight”... 

Aluminium set for best week in three decades as supply woes mount

By: Bloomberg     13th April 2018 Aluminium prices are heading for the best week in at least three decades as US sanctions on Russian producer United Co. Rusal send buyers scrambling to find supplies. Prices of the metal climbed to the highest since 2012 Thursday, helping push this week’s gain to almost 14%, the most in... 

Aluminium set for best week in three decades as supply woes mount

Glencore is losing billionaire allies to Trump's sanctions

By: Bloomberg     12th April 2018 The reach and power of US sanctions are hemming in the world’s largest commodity trader. In just four months, Glencore chief Ivan Glasenberg has lost two of his closest business allies as President Donald Trump’s aggressive foreign policy hits home, forcing him to cut ties with billionaires Oleg... 

ABM to extend DRC augering programme

By: Anine Kilian     12th April 2018 Aim-listed African Battery Metals (ABM) has extended the auger programme on its Kisinka property, in the Democratic Republic of the Congo (DRC). The extension will allow the miner to investigate additional soil anomalies. 

Aluminium gets Iran-style crisis as Rusal shut out of market

By: Bloomberg     12th April 2018 The aluminium market is having its own Iran oil moment. Similar to how US and European sanctions in 2012 cut Iran’s oil sales to the world, last week’s American penalties on United Co Rusal look set to freeze the Russian company’s aluminium out of western markets. The reaction has already been... 

Aluminium soars as sanctions force top exchanges to block Rusal

By: Bloomberg     11th April 2018 Aluminium headed for the highest close since January, extending its hottest three-day streak since 2009, after top exchanges said they’ll stop accepting metal from United Co. Rusal, deepening supply fears after the US slapped sanctions on the Russian group. The metal advanced 1.4% to $2 231 a... 

Aluminium soars as sanctions force top exchanges to block Rusal

LME to suspend Rusal's aluminium from approved brand list

By: Reuters     11th April 2018 The London Metal Exchange will suspend Rusal's aluminium from its list of approved brands from April 17 after some members raised concerns about settling LME contracts with sanctioned companies, the exchange's chief executive told Reuters. Last week the US Treasury Department imposed sanctions... 

Rio Tinto becomes first aluminium producer certified under new sustainability benchmark

By: Henry Lazenby     11th April 2018 Mining giant Rio Tinto has become the first company in the world to be certified under the Aluminium Stewardship Initiative (ASI) – a new benchmark for healthy environmental, social and governance practices across the aluminium lifecycle of production, use and recycling, the company announced on... 

Vision 2030 mining growth strategy under development ­– ­DMR

By: Martin Creamer     10th April 2018 A Vision 2030 for the mining industry, and a strategy for growth and competitiveness of the sector, are topics under development, the Department of Mineral Resources (DMR) said on Tuesday, when efforts to finalise and gazette the Mining Charter also intensified. In announcing that Mineral... 

Deripaska's fall: From Davos party king to outcast in three days

By: Bloomberg     10th April 2018 At Davos this year, Oleg Deripaska threw a party with champagne, Russian folk dancers and a performance by Enrique Iglesias. Now the Russian billionaire is on an international blacklist usually reserved for terrorists and warlords. On Friday, the US aimed its toughest sanctions at Deripaska’s... 

Deripaska's fall: From Davos party king to outcast in three days
Oleg Deripaska

Hydro denies Brazil alumina plant contaminated local environment

By: Reuters     10th April 2018 Aluminium producer Norsk Hydro denied on Monday its Alunorte alumina refinery in Brazil had contaminated local waters, contradicting the findings of a Brazilian public health group. Citing an internal study and a report commissioned from green consultancy SGW Services, Hydro said no evidence was... 

Glencore terminates Rusal-EN+ share swap, Glasenberg quits Rusal board

By: Mariaan Webb     10th April 2018 Multinational miner and commodity trader Glencore will not proceed with a share swapping transaction with Russian companies Rusal and EN+ Group, following fresh US sanctions targeting Kremlin-linked companies and oligarchs. Glencore, which on Tuesday confirmed that it would comply with all... 

Glencore terminates Rusal-EN+ share swap, Glasenberg quits Rusal board
Photo by Creamer Media
Glencore CEO Ivan Glasenberg has resigned as director of Russian aluminium gaint Rusal.

Rio Tinto stands to win from Rusal sanctions, US consumers to lose

By: Reuters     9th April 2018 Rio Tinto will be among the biggest winners from the US sanctions imposed on Russian aluminium giant United Company Rusal as the penalties further shake up the global metals trade and boost costs for US consumers, industry sources said on Monday. The United States on Friday imposed the sanctions... 

Rio Tinto stands to win from Rusal sanctions, US consumers to lose
Rio Tinto has aluminium operations in Canada and Australia, which are exempted from the section 232 tariffs.

Norway unions, employers agree wage deal, averting strike

By: Reuters     9th April 2018 Norway's private-sector trade unions reached a deal on Sunday with employers over wages, pensions and other compensation, averting the outbreak of major strikes, a state-appointed mediator said after five days of negotiations. Almost 35 000 employees had been scheduled to go on strike if no... 

Deripaska's Rusal and aluminium market roiled by US sanctions

By: Bloomberg     9th April 2018 Russian aluminum maker United Co. Rusal’s stock plunged about 40%, while prices of the metal surged, after US sanctions on the company and its billionaire owner Oleg Deripaska prompted the producer to warn of potential debt defaults and “materially adverse” consequences. The stock fell to... 

Deripaska's Rusal and aluminium market roiled by US sanctions

Russian tycoon Deripaska nominated to join Nornickel board

By: Reuters     6th April 2018 Russian tycoon Oleg Deripaska has been nominated to join the board of directors of mining firm Norilsk Nickel, a regulatory disclosure showed on Thursday. Deripaska, whose aluminium producer Rusal owns a 27.8% stake in Norilsk Nickel, has been locked in a long-running battle for control of the... 

China seeks WTO dispute resolution with US over steel, aluminum tariffs

By: Reuters     5th April 2018 China's commerce ministry said on Thursday it has initiated a World Trade Organization (WTO) dispute resolution procedure over US tariffs on its import of steel and aluminum. The move follows a back and forth dispute between the two countries over free trade, that has escalated from an... 

Alcoa transfers $555m in Canadian pension obligations, assets to 3 insurers

By: Henry Lazenby     4th April 2018 US-based aluminium producer Alcoa has signed agreements with three insurers to transfer about $555-million in Canadian pension obligations and related assets of its defined benefit pension plans in Canada. The Pittsburgh, Pennsylvania-based company advised that it expects to book a noncash... 

Japan's Mitsubishi Materials sees H1 copper output up 7% y/y

By: Reuters     2nd April 2018 Mitsubishi Materials, Japan's third-biggest copper smelter, said on Monday it plans to produce 187 374 t of refined copper during April-September, up 7% from the same period last year. The company expects output at its Naoshima smelter and refinery in western Japan to rise 11%, while production... 

Japan's Mitsubishi Materials sees H1 copper output up 7% y/y

Hydro to start shutdown of Brazil alumina lines by mid-April – sources

By: Reuters     28th March 2018 The Alunorte refinery in northern Brazil, owned by Norway's Norsk Hydro, will start shutting down half of its alumina capacity in the next two weeks to preserve equipment, two people familiar with the matter said on Tuesday. The world's largest alumina refinery, situated in Brazil's Amazon... 

Alunorte refinery needs to return to full output soon – Hydro

By: Reuters     27th March 2018 Aluminium producer Norsk Hydro needs to return soon to full output at its Alunorte alumina refinery in Brazil to avoid shutting down production lines completely, it said on Tuesday. Last month Brazilian authorities ordered Hydro to temporarily halve its output from the plant after they said a... 

Rio sees $5bn copper expansion on track amid Swiss probe

By: Bloomberg     26th March 2018 Rio Tinto Group has yet to be contacted by Swiss authorities over a bribery investigation related to Mongolia’s giant Oyu Tolgoi copper and gold mine and the site’s $5.3-billion expansion remains on track, according to the producer’s top executive. The attorney general of Switzerland is... 

Rio sees $5bn copper expansion on track amid Swiss probe
Rio Tinto CEO Jean-Sebastien Jacques

Norsk Hydro sees limited effect from US aluminium tariffs

By: Reuters     23rd March 2018 Norwegian aluminum-maker Norsk Hydro on Friday said the new US toll barriers on aluminium would have a very limited direct effect on the firm. "From a Norwegian perspective, this will have a very limited effect on us", said Hydro spokesman Halvor Molland, adding that Hydro had "some exports" to... 

Trump temporarily excludes EU, six other allies from steel tariffs

By: Reuters     23rd March 2018 US President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher US import duties on steel and aluminum meant to come into effect on Friday. In a Presidential proclamation published late on Thursday, Trump said he would suspend... 

BHP sees limited impact on steel market from US new tariffs

By: Reuters     22nd March 2018 Global miner BHP anticipates planned new US steel import tariffs will have a limited impact on both the steel market and the firm, and doesn't foresee a chain reaction from other countries, a senior official said on Thursday. "I think direct impact on steel is quite marginal because the United... 

Rio Tinto fears impact of trade war concerns despite tariff exemptions

By: Reuters     20th March 2018 Global miner Rio Tinto sees fears of a trade war between the US and China weighing on its shares, even after the company won an exemption from US tariffs for its Canadian aluminium exports. Nearly a third of all aluminium consumed by the US is supplied by Rio Tinto from Canada. 

Rio Tinto hires UBS to explore Pacific Aluminium listing - sources

By: Reuters     19th March 2018 Rio Tinto has asked Swiss investment bank UBS to explore a possible public listing of its Pacific Aluminium smelting business on the Australian Stock Exchange (ASX), two industry sources said on Friday. The mining group has tried to sell the division many times without success, including in... 

Norsk Hydro CEO says securing alumina to replace Alunorte output is priority

By: Reuters     16th March 2018 Norsk Hydro Asa sees securing alternative sources of alumina to replace reduced supplies at its Brazilian plant as a priority, CE Svein Richard Brandtzaeg told Reuters. Brazilian authorities ordered Norsk Hydro's Alunorte plant, the world's largest alumina plant, to cut output by half in late... 

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt
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