LME Aluminum to Move at Highs (2017-8-9)

Basis Daily Report: According to SMM data, on September 28, the SMM alumina index stood at a discount of 31.65 yuan/tonne to the latest transaction price of the front-month contract as of 11:30.

On September 28, the SMM alumina index stood at 2,671.35 yuan/tonne, down 0.24 yuan/tonne from the previous trading day. The SMM Shandong alumina index stood at 2,673.53 yuan/tonne, down 0.14 yuan/tonne from the previous trading day; the SMM Henan alumina index stood at 2,692.45 yuan/tonne, down 0.44 yuan/tonne from the previous trading day; the SMM Shanxi alumina index stood at 2,694.06 yuan/tonne, down 0.24 yuan/tonne from the previous trading day; the SMM Guizhou alumina index stood at 2,702.69 yuan/tonne, down 0.51 yuan/tonne from the previous trading day; and the SMM Guangxi alumina index stood at 2,584.02 yuan/tonne, down 0.40 yuan/tonne from the previous trading day.

[SMM Aluminum Express News] Vedanta has asked the Odisha government to accelerate approvals and implementation for an additional ₹1 lakh crore, around US$11 billion, aluminum investment programme in the state. Vedanta Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi in Bhubaneswar on September 26, with discussions covering a proposed 6 million t/y alumina refinery in Rayagada and 3 million t/y aluminum smelter in Dhenkanal. The Odisha government said the projects could generate more than 200,000 direct and indirect jobs