Rio’s Pacific Aluminium May Fetch $2 Billion, Macquarie Says

Aluminium Ingot January Production Analysis & February Forecast

According to SMM's research findings, Yunnan Province is currently experiencing a dry season, with hydropower contribution remaining at a relatively low level. Enterprises have no immediate plans for production resumption and await clearer policy guidance from the power sector.

The implementation of Indonesia's ban on bauxite exports since June last year has led to bauxite surplus, brought challenges to consume domestically as the Indonesia's alumina plants have limited capacity. Ronald Sulistyanto, Chairman of the Indonesian Bauxite and Iron Ore Entrepreneurs Association (Asosiasi Pengusaha Bauksit dan Bijih Besi Indonesia - APB3I), highlighted the struggle to secure external investment for alumina plant projects, while some entrepreneurs are forced to cut costs or halt production. However, there is hope for relief through potential relaxation of the export ban policy. Efforts are underway to boost alumina production capacity, although challenges persist in addressing the surplus bauxite issue.

Rio Tinto’s net profit surged over 9-fold in H1 2017 thanks to higher selling price of iron ore and other commodities.

Rio Tinto sold 70,000 tonnes of PB lump to Chinese buyers on September 6 at premium of $0.3401 per tonne.

Freeport-McMoRan Inc. closed 5.73% higher August 16, leading gains of other companies. Alco rose 4.61% to $39.23, the biggest daily gains from late April.

LME aluminum will trade at USD 2,005-2,035/mt on Thursday, and SHFE 1710 aluminum will regain losses seen on Wednesday’s night trading, with price estimated at RMB 16,000-16,250/mt. 

Rio Tinto’s copper concentrate output declined 21% on a yearly basis to 208,900 tonnes (Cu content) in the first half of 2017 due mainly to the strike at Escondida copper mine, SMM notes.

Rio Tinto’s copper output at its copper mines slid 37% year-on-year to 84,200 tonnes in the first quarter of 2017 as a result of strike at Chile’s Escondida copper mine and output cut at Grasberg mine

Prebaked anode prices in China’s domestic market rose by about 620 yuan per tonne in January 2017 after Shandong Weiqiao raised its procurement price.