Futures: SHFE aluminium closed at RMB 23,170 per tonne in the daytime session (down 0.22 per cent), moving sideways. Prices barely held above the MA5 (23,111) but were capped by the MA10 (23,199) and MA30 (23,352), with the bearish alignment of moving averages unchanged. The MACD formed a golden cross below the zero axis (DIF -132.31, DEA -150.30), with the red histogram expanding to 35.98, but trading volume shrank sharply to 43,600 lots, and the volume-price divergence limited the rebound height. The core trading range for SHFE aluminium is suggested at 22,900-23,400. LME aluminium closed at USD 3,082 per tonne (up 0.31 per cent). Prices held above the MA5 (3,063.8), MA10 (3,072.5), and MA30 (3,068.4), but remained capped by the MA60 (3,166.4), in a weak recovery phase within the...
India’s Directorate General of Trade Remedies (DGTR) has initiated an anti-dumping investigation into imports of aluminium extrusion profiles, structures and articles from China, Malaysia, Vietnam and Thailand following a complaint by the Aluminium Extrusion Manufacturers Association of India (ALEMAI). The investigation will examine imports between April 1, 2025 and June 30, 2026. The injury assessment will cover the period from 2022-23 to June 30, 2026. ALEMAI, which represents 228 domestic manufacturers, alleged that a significant increase in dumped imports from the four countries had caused injury to India's aluminium extrusion industry. Explore further insights and forecasts for the aluminium flat rolled products (FRP) market from our comprehensive report - Aluminium Flat Rolled...
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Hydro has announced the termination of the Memorandum of Understanding (MoU) with Golar Power and CELBA. The MoU, which was signed in July 2020, between Hydro’s alumina refinery Alunorte, Golar Power Brasil Participações and Centrais Elétricas Barcarena (CELBA) for the project to bring liquified natural gas (LNG) to the Alunorte alumina refinery has been terminated. “The decision to terminate the MoU is based on the provisions of the agreement. Hydro is committed to pursue natural gas as an energy source for the Alunorte refinery and will continue discussions with interested parties,” Hydro said.
As part of its environmental modernization program by 2024, RUSAL, the leader of global aluminium industry plans to entirely switch the reduction area of the Krasnoyarsk aluminium smelter (KrAZ) to a new type of raw material, an eco-friendly pitch. In contrast to the traditional raw material, the eco-friendly pitch is less tarry in nature and its application in the aluminium production process is less harmful to the environment. The implementation of this and other technical innovations at KrAZ will lead to a reduction of benzapyrene emissions’ by at least 60% in the upcoming years. Vitaly Badmaev, First Deputy Minister of ecology and environmental management of the Krasnoyarsk territory, said: “The transition to the eco – friendly pitch at a production facility is a complex technological...
According to a recent survey, India is expected to be not significantly affected by the anti-dumping duties imposed by the United States on common alloy aluminium sheets, as the former supplies small amount of the product to the latter. Late last week, the United States Department of Commerce announced to immediately impose preliminary anti-dumping duties on imports of aluminium alloy sheets from 18 countries, including Germany, Bahrain, Brazil, Spain, India and Italy. Biswajit Dhar of the Jawaharlal Nehru University explained, “As we sell such sheets in limited quantity to the US, the impact would not be significant. It is a reflection of the countries impacted by Covid-19 adopting protectionist measures on one pretext or another.” Over 70 countries have notified the WTO of having taken...
AlCircle team feels proud and thankful to announce that its first-ever online exhibition “Global Aluminium Expo 2020” on October 6 & 7 was a success. We are delighted to share the total attendee registrations for the two-day event was 1107 from 85 countries across the world. The number of attendees present on both days was 276, and the average time spent by an attendee at the event was 2 hours and 3 minutes. Number of exhibitors present at the expo was 27 and sponsors 10. Average number of visitors at each booth stood at 126, average business card views per booth were 29, total videos viewership was 1068, and total number of document downloads was 1760. The event was absolutely star-studded with some of the world’s leading aluminium companies like Hencon, STAS, GAP Engineering SA,...
Alcoa announced it will curtail its San Ciprián aluminum smelter in Spain. The company will also initiate a collective dismissal that will impact about 530 employees. The alumina refinery at San Ciprián will continue to operate. The curtailment is expected to be completed in the first quarter of 2021, and approximately 100 employees will remain to operate a portion of the casthouse. The company will offer severance packages and employment services for those affected by the curtailment decision. The decision was made after considering all options, including reviewing records associated with four months of consultations with the workers’ representatives and the negotiations during a potential sale process. Alcoa on September 29 announced it would take up to 15 days to determine and announce...
Ghana is the first country in Sub-Saharan Africa to achieve the Millenium Development Goal 1, which is the target of halving extreme poverty. Ghana has recently become a middle-income country. Ghana's economic freedom score is 59.4, making its economy the 104th freest in the 2020 Index. Ghana is ranked 11th among 47 countries in the Sub-Saharan Africa region, and its overall score is well above the regional average and slightly below the world average. The West African nation’s alumina import during 2019 has been recorded at 84,710 and the expenditure occurred for the import remained at $28.87 million. The alumina import for 2020 has been evaluated at 135,153 tonnes, growth by 59.54%, Y-o-Y surplus volume of 50,443 tonnes and foreign revenue to be expended is expected at $42.39 million, a...
Hindalco Industries Limited has increased the aluminium products price for the fourth time in a row. With effect from Saturday, 10 October 2020, the company’s wire rods price has registered a hike of INR 1,500 per tonne from INR 162,100 per tonne to stand at INR 163,600 per tonne. Aluminium billets price stands at INR 159,600 per tonne as of Saturday, 10 October 2020, marking an increase of INR 1,500 per tonne from INR 158,100 per tonne on October 9. Hindalco aluminium ingots price has increased by INR 1,500 per tonne to INR 152,500 per tonne as of Saturday. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has increased by more than 2% so far in 2020. Aluminium operations of...
Three-month LME aluminium climbed to a one-year high of US$1,855.5 per tonne on Friday, closing 2.67% higher at US$1,847 per tonne. It is expected to move between US$1,820-1,860 per tonne today. As of Friday October 9, LME aluminium cash (bid) price stands at US$ 1805.50 per tonne, LME official settlement price stands at US$ 1805.50 per tonne; 3-months bid price stands at US$ 1820 per tonne, 3-months offer price is US$ 1820 per tonne; Dec 21 bid price stands at US$ 1876.50per tonne, and Dec 21 offer price stands at US$ 1876.50 per tonne. The LME aluminium opening stock stood at 1416325 tonnes. Live Warrants totalled 1114850 tonnes, and Cancelled Warrants were 301475 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1811.50 per tonne. SHFE Aluminium Price Trend...
Founded in 2001 and ASX-listed, Australian Mines Ltd. is seeking to evolve new aluminium alloys using scandium, which will be sourced from the Sconi project in Queensland. The mining company has allied with Victoria-based Deakin University’s Institute for Frontier Materials for the project, which starts on 12 th October’20 and lasts for nine months. The project strives to deliver aluminium alloys from high purity scandium oxide to enhance the performance of industrial processes within the energy industry. It will use machine learning algorithms and Deakin’s expertise in alloy development. Benjamin Bell, Managing Director, Australian Mines Ltd. said: “Working with Deakin to develop the next generation of aluminium alloys using scandium aligned perfectly with the company’s strategy to...
As of Monday, October 12, A00 aluminium ingot price has recorded a hike of RMB 90 per tonne for the second day in a row to come in at RMB 14,940 per tonne, found the Shanghai Metals Market data. The price has expanded today despite the surge in primary aluminium ingots inventories to 715,000 tonnes on Friday, October 9. An increase in demand after a week-long holiday could be a factor for the rise in A00 aluminium ingot price today. The average prices are expected to range between RMB 14,920 per tonne and RMB 14,960 per tonne, with spot contract to be traded at a premium price of RMB 150-190 per tonne, down by RMB 40 per tonne from the previous day. In Gongyi, A00 aluminium ingot price has increased by RMB 90 per tonne to stand at RMB 14,870 per tonne on October 12, while that in...
Vedanta Limited has consecutively increased its aluminium ingot and aluminium product prices, albeit slower than the previous day, with effect from Saturday, October 10. The company is now selling its aluminium ingot price in the range between INR 150,500 - 163,500 per tonne, up by INR 1,500 per tonne or 1 per cent from INR 149,000 - 162,000 per tonne on October 9. With the third consecutive hike, Vedanta’s aluminium billet price has come in at INR 158,500 per tonne, also higher by INR 1,500 per tonne than INR 157,000 per tonne on October 9. On October 9, Vedanta’s both aluminium ingot and aluminium billet prices were increased by INR 3,500 per tonne from October 6. Vedanta’s aluminium wire rod price, as of October 10, is hovering at INR 158,000 – 165,500 per tonne versus INR 156,500 –...
Vedanta has raised its aluminium ingot price for the second time in a row. With effect from Friday, 09 October 2020, the prices of some aluminium ingots are in the range of INR 149,000-162,000 per tonne, marking a growth of INR 3,500 per tonne from INR 145,500-158,500 per tonne on October 6 2020. With the latest hike, Vedanta’ billet now stands at INR 157, 000 per tonne on October 9, up INR 3,500 per tonne from INR 153,500 per tonne on October 6. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has increased by more than 2% so far in 2020. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in Bharat Aluminium...
According to the Shanghai Metals Market, 6063 aluminium billet inventories in China have surged during the National Days holidays from October 1 to 8 across five major consumption areas. As per the data, aluminium billet inventories have expanded by 42,000 tonnes from pre-holiday levels to stand at 105,700 tonnes, as of Friday, October 9. Last week on September 30, aluminium billet inventories stood at 63,000 tonnes after declining by 7,900 tonnes over the week. The chart below indicates the current status of aluminium billet inventories across China in more details: In Foshan, aluminium billet inventories soared by 25,900 tonnes on October 9 to stand at 51,400 tonnes, while that in Wuxi and Huzhou increased by 6,910 tonnes and 6,000 tonnes, respectively, to come in at 19,500 and 12,000...
A greater part of the workers at Straumsvík aluminium smelter, near Reykjavík in Iceland, have voted to strike in action. As per the report, the strike actions begin on 16 th October, which entail daily strikes among certain professions within the smelter throughout November. A general strike is scheduled to begin on 1 st December if an agreement is not reached by that date. According to Reinhold Richter, a union representative, the striking workers belong to five different unions and are demanding the same wage hikes as are outlined in the “standard of living contract” signed by unions and the Icelandic Confederation of Enterprise (SA) in 2019. The smelter is owned by Rio Tinto, one of the largest metal and mining corporations in the world. Earlier this year, the company considered...
Hydro announced that it has resumed operation of the pipeline transporting bauxite from Hydro Paragominas bauxite mine to Alunorte alumina refinery in Brazil. Paragominas bauxite mine production has started, and output is now being ramped up at Hydro’s Alunorte alumina refinery. The company in August halted operation for extended maintenance in order to replace a section of the pipeline earlier than scheduled. “During the extended maintenance period, production at Alunorte had been reduced to a level between 35-45 percent of full capacity to balance bauxite inventories,” Hydro said.
Virtus Industries has acquired Canada-based brass and aluminium tube maker Arzon Ltd. The purchase is aided by a direct investment by global alternative investment manager Ares Management Corp. The acquisition of Arzon, located in Burlington, Ontario, was made through Virtus subsidiary STP Holdco and comes at a time when companies are moving to diversify in favour of local suppliers to increase supply chain security. Investors in Virtus include Ares, metals industry investment specialist Drakewood Capital Management and commodity and basic industries asset management firm Ospraie Management.
Iran's aluminium production stood at 211,779 tonnes during the first six months to September 21. That was an increase of 71% compared with the same period last year, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Iran’s flagship aluminium producer Iran Aluminum Company (IRALCO) contributed 95,723 tonnes of the total output. Hormozal Aluminum Company produced 45,444 tonnes while Almahdi Aluminum Company’s production stood at 33,988 tonnes in six months. The output from South Aluminum Company (SALCO) stood at 25,000 tonnes. Iran Alumina Company produced 11,227 tonnes. Iran has an estimated aluminium nameplate capacity of 457,000 tonnes per year. The country now aims at increasing its annual aluminium output to more than 800,000 tonnes...
On 9 th October’20, the US Department of Commerce announced that it would impose preliminary anti-dumping duties "immediately" on imports of aluminium alloy sheets from 18 countries, which includes Germany, Bahrain, Brazil, Spain, India and Italy. Wilbur Ross, US Secretary of Commerce, said: “In total, that's $ 1.96 billion worth of goods and it's a pretty large percentage of the total aluminium industry in this country.” "The final decisions will be taken in February 2021, that is to say after the presidential election, indicated the minister of Donald Trump, specifying that it was the American Commission of the International Trade (ITC), an independent organization, which would take the final decision .” For now, these preliminary duties will be levied "immediately". He further...
