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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Bulgaria is ranked 19th among 45 countries in the Europe region, and its overall score is just above the regional average and well above the world average. Bulgaria has been making steady progress in economic freedom for more than a decade, and this year, its economy has finally entered the ranks of the freest. However, Bulgaria's economy declined by 10% in the second quarter of 2020, according to preliminary data announced by the National Statistical Institute (NSI) on 4 th September, exceeding the statistics body's earlier flash estimate that put the drop at 9.8%. The Balkan nation’s aluminium scrap export during 2018-19 was recorded at 64,049 tonnes and revenue generation remained at $78.39 million. The export for 2020 has been marked at 31,340 tonnes and earnings to stand at $29.92...
Just one more day to go, Alcircle team is ready to welcome you for the first-ever online “Global Aluminium Expo 2020”, a platform where you can share success stories, explore new business opportunities, and meet and greet some old and some new customers. As travel is restraint and so meeting people physically, while thinking of it, we came out with this extraordinary initiative to bring all the aluminium value chain associates under one umbrella for networking and business development; be rest assured, the event will be a source centre to gather the rich and right information on the current market condition of the aluminium industry to help you make the right business decision at the time of unprecedented crisis. GAE 2020 will deliver opportunities to meet the industry leaders’ virtually...
DURA Automotive Systems recently had a groundbreaking ceremony of its state-of-the-art lightweight automobile structures manufacturing facility in Muscle Shoals, Alabama, US. This is the latest addition to DURA’s 31 worldwide sites. The construction of the new facility is estimated to complete by April 2021. It will house advanced robotics, along with proprietary forming and joining technologies to create lightweight structures including those used for electric vehicle (EV) battery systems. This new site reportedly involves an investment of $75 million, and is projected to employ 279 full time workers at peak production. “This investment represents DURA’s commitment to support global customers in the transition to electrified, high performance vehicles.” said Kimberly Rodriguez, DURA...
South Korea's imports of aluminium scrap from the US stood at 24,600 tonnes in July, with a year-on-year increase of 25.5%. South Korea had imported 19,600 tonnes in July 2019. On a month-on-month comparison, imports rose 14% from 21,600 tonnes in June 2020, as updated by the US Census Bureau. South Korea imported 166,000 tonnes of aluminium scrap in the first seven months of 2020, from 157,000 tonnes imported in the first seven months of 2019. This marked an increase of 5.73% year-on-year. South Korea's imports of total aluminium (semi-finished products, crude metals and alloy and scrap) from the US stood at 26,500 tonnes in July 2020, up23.26% from 21,500 tonnes in July 2019. Imports climbed by 13% from 23,500 tonnes in June 2020. In January-July 2020, total imports stood at 181,000...
Vedanta Limited announced that it saw a downfall of 23.5 per cent in its quarterly profit ended on June 30, attributing to lower production and demand amid the world’s strictest lockdown due to the COVID-19 pandemic. Billionaire Anil Agarwal’s group’s net income slumped to INR 1,033 crore ($141 million) in the June quarter from INR 1,351 crore during the same period last year, said Vedanta in a statement late Saturday. Sales also plummeted by 25.9 per cent to INR 15,687 crore. Vedanta’s net debt at the end of June was INR 24,787 crore. Vedanta’s main businesses include zinc, aluminium, and oil and gas, all of which have been hit by narrow demand due to the COVID-19 crisis. At present, Agarwal’s London-based Vedanta Resources Limited is in the process of taking Mumbai-listed Vedanta...
SIMEC Energy, a subsidiary of GFG Alliance, has signed an agreement with IGNIS, a developer of large renewable energy projects in Spain, to develop one of Spain’s largest renewable energy programmes for energy intensive industries. The partnership will work towards the development of renewable energy programmes, with around 1.2GW generated from wind and solar energy to be operational by 2023. SIMEC, which has around 600MW of existing capacity, is developing a further 2GW of renewable energy plants, including a 280MW capacity solar farm in South Australia, a 160MW onshore wind farm in Scotland and a cutting edge end-of-life waste to energy facility in Wales. IGNIS currently maintains a 725MW solar farm in Aragón, operates and delivers energy management services to 2.7GWs of power...
Benchmark aluminium price on the London Metal Exchange stood lower by 0.64 per cent at US$ 1705 per tonne on Friday, October 2, from US$ 1716 per tonne on Thursday. As of Friday, both LME aluminium cash (bid) price and LME official settlement price declined for the third consecutive day from US$ 1716 per tonne to US$ 1705 per tonne. 3-months bid price and 3-months offer price stood at US$ 1740 per tonne, down by US$ 14 per tonne from US$ 1754 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1813 per tonne. The LME aluminium opening stock declined from 1450950 tonnes to 1444275 tonnes. Live Warrants stood at 1195825 tonnes, while Cancelled Warrants at 248450 tonnes. LME aluminium 3-months Asian Reference Price came in at US$ 1731.11 per tonne, as of Friday, October 2. SHFE...
The 1200-MW capacity Captive Power Plant of Nalco in Angul has failed several times for the last few days, causing a blackout situation and the supply of electricity is highly interrupted, as all the eight units malfunctioned. The Navratna CPSE Company under Ministry of Mines, Government of India, has reported that its production of aluminium has been affected. At least 80 pots of the Nalco's smelter plant here have gone down as power supplies from its captive power plant (CPP) and the State grid have been disrupted owing to technical failures. Nalco has a total of 960 pots. Electricity failure during the last few days has raised many question marks on the Nalco's power backup system. The potlines consist of 4 lines with 240 pots in each. It is calculated that approximately 11 tonnes of...
The District Administration of Nellore in Andhra Pradesh, the south-eastern coastal state of India, has eventually cleared the land issues for Aluminium Plant for defence unit, which was proposed by Mishra Dhatu Nigam Limited (MIDHANI). The proposed land has been at Bodduvaripalem, district Nellore and it has been transferred to Utkarsha Aluminium Dhatu Nigam Limited, a joint venture between Midhani and Nalco. The company is getting ready to start its unit as the officials registered 110 acres of land with the initiation of the District Collector. Mishra Dhatu Nigam Limited, the defence public sector unit of India planned a greenfield aluminium alloys production plant at Bodduvaripalem, however, the land acquiring issues barricaded the INR 2,000 crore project. The foundation stone laying...
The LPM Group is a specialized in design and construction of machines and equipment for aluminium and magnesium low pressure and gravity die casting, with its presence in China, Germany and the United States, continues its overseas journey and this time lands in Mexico. The company with its headquarters in Bovolenta, Italy, has acquired 100% stake of the American company Fata Aluminum, which in turn fully controls the Fata Aluminum Foundry, with a plant in Saltillo, capital of the State of Coahuila. The LPM Group produces machines and plants for the casting of aluminium and magnesium alloys and boasts partnerships with some of the top and biggest international players in the automotive market. The company was assisted in the acquisition by the lawyer Alessandro Polettini of Legalitax and...
Noranda Jamaica Bauxite Partners II (Noranda Bauxite) plants 2,020 trees to observe Jamaica’s National Tree Planting Day on 2 nd October. Noranda Bauxite’s participation in this event is indicative of the longstanding partnership that exists between agriculture and mining in St. Ann, Jamaica. Most of the trees will be planted on selected lots across the company’s mining lease areas in St. Ann by approximately 50 Noranda Bauxite management and trade union employees. The company will also be joined in its planting efforts by representatives of the Forestry Department, the Jamaica Agricultural Society (JAS), the Rural Agricultural Development Authority (RADA), and the Noranda Community Councils. It is said that 500 trees will be distributed to its employees for planting in the communities in...
An engineering venture that is leading towards innovations in lightweight structures for electric vehicles has been supported by the UK Government. The LEVA project - Lightweight Electric Vehicle Architecture program is being led by sports car manufacturer Lotus and will use UK-based engineering and digital manufacturing to showcase pioneering electric vehicle chassis and powertrain concepts. The Norfolk-based firm is also working with supply chain partner Sarginsons Industries. It will seek to harness the ‘light-weighting’ potential of an aluminium alloy developed and patented at the Brunel Centre for Advanced Solidification Technology (BCAST) for use in future advanced automotive architecture. Professor Shouxun Ji of BCAST, said: “The alloy won a national innovation award in 2017...
Audi Hungaria uses around 38,000 tonnes of aluminium per year for automobile production. As aluminium production consumes a lot of energy, Audi Hungaria will be managing the material in a recycling loop. This will save valuable energy and resources. With the aluminium closed-loop, aluminium scrap from production will be returned to the supplier, who uses it to produce original quality aluminium coils and returns them to Audi. This closes the loop and ensures sustainable production. Sustainable production that conserves resources is very important to Audi Hungaria. The company is constantly working to decarbonize its site. Alfons Dintner, Chairman of the Board of Directors of AUDI HUNGARIA Zrt, said: “We are not only reducing CO2 emissions from factories, but we are also implementing...
The US imported 253,000 tonnes of crude metal and alloys in July, an increase of 177.41% year-on-year. On a month-on-month comparison, imports reduced by 3.44% from 262,000 tonnes in June, according to the latest Mineral Industry Survey report from US Geological Survey. In the first seven months of 2020, the US imports of crude metal and alloy stood at 2.080 million tonnes, from 1.9 million tonnes in the first seven months of 2019. This records an increase of 9.47% or 180,000 tonnes year-on-year. On the export side, the US exported 14,600 tonnes of crude metal and alloys in July 2020, from 18,300 tonnes exported in July 2019. That was down 20.22% year-on-year. On a month-on-month basis, the exports declined 8.18% from 15,900 tonnes. Crude metal and alloys exports stood at 105,000 tonnes...
Three-month LME aluminium settled 1.28 per cent firmer at US$ 1784.50 per tonne on Monday, but ended 0.34% lower at US$1,778.5 per tonne on the very next day. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, September 28, at US$ 1737 per tonne, increasing by US$ 28.50 per tonne from the previous day. Extending the hike on Tuesday, September 29, both the prices came in at US$ 1746 per tonne. On Wednesday, September 30, the prices declined to US$ 1737 per tonne, and further to US$ 1716 per tonne on Thursday, October 1. On Friday, October 2, both LME aluminium cash (bid) price and LME official settlement price continued to fall to stand at US$ 1705 per tonne. This shows the LME aluminium prices recorded downtrend over the week by US$ 32 per tonne....
SMM aluminium ingot price started the week with an increase of RMB 270 per tonne and RMB 180 per tonne on Monday and Tuesday. The price stood at RMB 14550 per tonne and RMB 14730 per tonne on September 28 and September 29. Ingot price ended RMB 50 per tonne lower at RMB 14680 per tonne after Wednesday’s closing. China market is closed for the National Day and Mid-Autumn Festival holidays from October 1 to October 8, 2020. According to the Shanghai Metals Market, primary aluminium inventories in China declined by 61,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to stand at 655,000 tonnes, as of Wednesday, September 30. This sharp fall could be attributed to the increase in purchases by the downstream sector before the week-long Chinese National...
Hindalco Industries Limited has reduced the price of its aluminium ingots and aluminium products with effect from Friday, October 2, following a hike on Tuesday, September 29. Hindalco’s aluminium ingot price has come in at INR 145,750 per tonne, down by INR 1,250 per tonne from INR 147,000 per tonne on September 29. The company’s aluminium billets price is at INR 152,850 per tonne, as of October 2, lower by INR 1,250 per tonne or 1 per cent than INR 154,100 on September 29. The price of Hindalco’s aluminium wire rod is also down by INR 1,250 per tonne to INR 156,850 per tonne, as of October 2. Indian aluminium producers generally link their product prices to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium during September 29-...
New Day Aluminum Holdings, and its parent company, DADA Holdings, are in discussions with several potential global partners on various strategic initiatives to materially expand its capabilities and further secure the long term sustainability of Noranda Alumina, its Louisiana-based alumina refinery. These initiatives range in scope from a major shift in its bauxite residue capabilities on its path to becoming a zero-residue refinery, to several potential ventures with major industry players to continue to build on Gramercy’s metallurgical and non-metallurgical product capabilities and capacities. While most of these initiatives are associated with its refinery, some would potentially involve the company’s Jamaican bauxite operations and speciality businesses in the U.S. and Europe. David...
