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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Heart Aerospace, the Swedish aviation start-up communicated that it plans to build a 19-seat all-electric commercial aircraft that will fly by mid-2026. On 23 rd September’20, Gothenburg based firm presented its regional aircraft design dubbed “ES-19”, which will have a range of about 222nm (400km). Initially, the company will be focusing on the Nordic countries; however, it has received inquiries from operators in North America and Asia as well. Heart Aerospace aims to change the world by reducing carbon output with its fossil-fuel-free concept. Anders Forslund, CEO and Founder of Heart Aerospace said: “We have the potential to reinvent air travel.” The aviation industry accounts for about 3% of global carbon dioxide emissions, according to ICAO, with about 40% of that coming from...
Rio Tinto has considerably progressed with its $75 million planned maintenance shutdown work at two of its alumina refineries in Gladstone, Queensland this year. Despite the COVID-19 restrictions, the mining giant conducted maintenance work at Queensland Alumina Limited and Yarwun refinery by using about 500 additional contract workers and stringent screening and controls. The Yarwun refinery is shut from June to October during day shifts to repair the digestion, boiler, and calciner areas of the plant, ensuring limited impacts on production. “The complexity of the shut at Yarwun is an opportunity to re-think the way we do things and explore innovation in our systems,” Rio Tinto Yarwun general manager Mark Gilmore said. He also said, “We have found ways to safely deliver our shuts during...
The US dollar traded at a two-month high and was set for a fifth day of gains on Thursday, September 24, as investors sought safety on concerns over economic recovery as coronavirus cases surged in Europe and on US data showed rising unemployment claims. As of Thursday, September 24, both LME aluminium cash (bid) price and LME official settlement price decreased further by US$ 21.5 per tonne to stand at US$ 1697 per tonne. 3-months bid price and 3-months offer price stood at US$ 1735 per tonne, down from US$ 1759 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1813 per tonne. The LME aluminium opening stock declined to 1482225 tonnes. Live Warrants stood at 1225325 tonnes, while Cancelled Warrants at 256900 tonnes. LME aluminium 3-months Asian Reference Price came in at...
Vedanta, the globally diversified metal and mining company appointed MK Razdan, the former CEO and editor-in-chief of PTI as a Senior Advisor for the Corporate Communications team. He will be based out of Delhi. Razdan is a well-known name in the industry and has spent over three decades in the industry. Razdan, who has been one of the longest-serving editors with the agency, has also been its Chief Operating Officer. Razdan became PTI’s General Manager in 1995, after serving the organization as its Bureau Chief in its one-member bureaus first in London, then New York. He superannuated subsequently to become PTI’s contractual CEO-cum- Editor-in-Chief. Roma Balwani, Director, Communications & Brand, Vedanta, has welcomed Razdan to 'Team Vedanta' in a tweet on 24 th September’20. Note to...
On 22 nd September’20, Aluminium Rheinfelden has applied for protective shield proceedings; these are preliminary insolvency proceedings with high requirements. This enables viable companies to improve their chances of restructuring. Rheinfelden Alu currently employs 256 staffs. Aluminium Rheinfelden, as a supplier to the automotive industry, has a history of over 100years, but due to the COVID-19 pandemic, the firm has to suffer as the vehicle production has been on halt. Initially, an attempt was made to compensate for the drop in sales with weeks of short-time work, and then the first bad news came in mid-June’20, the axing of 30 jobs. At the same time, company management and the works council said that there should be no redundancies. At that time they were convinced that they could...
The European Commission is likely to impose provisional antidumping duties of up to 48% on aluminium extrusions from China. The Commission opened an investigation in February 2020. The European Commission now found that extrusions have been sold in the European Union “at prices so low that they can be considered dumping and unfair competition to domestic producers.” Profiles, rods, bars, extruded tubes and pipes are covered by the duties “For Hydro’s around 40 extrusion plants in Europe, the antidumping action is a move that will mitigate unfair competition. For our customers, this will contribute to making sure Europe continues to have a viable extrusion industry which will still have a high level of competition due to its many competitors,” said Egil Hogna, Head of Extruded Solutions in...
Vestdavit, the leading davit supplier has secured an agreement with Austal Australia to supply twelve boat launch-and-recovery systems for the Royal Australian Navy (RAN). The marine davits will be installed on six new Cape-class patrol boats (CCPBs), under construction for the Navy at Austal’s Henderson shipyard in Western Australia. Combined RAN and Australian Border Force fleet of 10 CCPBs, the radical vessels will develop Australia’s border protection capabilities, supporting a wide range of security missions at a critical time for the country. They will feature Vestdavit’s PLAR-6501 single-point telescopic davit, an upgrade on the PLAR-6500 deployed on the existing patrol boats and a higher-capacity cousin of the PLAR-4501 delivered to the Trinidad and Tobago Coast Guard earlier this...
European aluminium scrap prices have started rising in recent weeks as demand is increasing in the market tightened by limited supply due to the lack of fresh scrap generation over months of COVID-19 lockdown restrictions. Usage of scrap also fell but not as much as the generation of new scrap, as some manufacturers tried to maintain operations using raw material stocks in the initial phase of the pandemic. "There was no fresh generation of scrap for three to four months, but people continued to sell, export and use scrap material in that time," one alloy producer said. Demand for alloy and scrap is now growing as more and more manufacturers are recommencing their operations after lockdown restrictions across Europe, particularly from the crucial automotive industry. The United Kingdom...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined moderately this week. Inventories stood 716,000 tonnes as of Thursday, 24 September 2020, down 24,000 tonnes from a week ago. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi and Hangzhou decreased by 17,000 tonnes and 3,000 tonnes from a week ago to 236,000 tonnes and 72,000 tonnes as of Thursday, 24 September 2020. Stocks in Shanghai and Nanhai stood at 123,000 tonnes and 163,000 tonnes, up 1,000 tonnes and 4,000 tonnes. Stocks in Linyi remained unchanged at 6,000 tonnes. Inventories of aluminium in Gongyi and Tianjin stood at 67,000 tonnes and...
According to the Shanghai Metals Market, China's aluminium billet inventories have continued to increase this week ending on Thursday, September 24, marking the fourth consecutive week of rise. The inventories are now standing at 71,500 tonnes after gaining 3,900 tonnes over the week across five major Chinese consumption areas. Arrivals of higher stocks have led to the hike in inventories this week. The chart below indicates the current status of aluminium billet inventories across China in more details: In Foshan and Nanchang, aluminium billet inventories have increased by 5,100 tonnes and 2,610 tonnes to stand at 24,900 tonnes and 19,910 tonnes, respectively, show the SMM data. But in other Chinese cities such as Huzhou, Wuxi, and Changzhou, aluminium billet inventories have shrunk by...
According to a Reuters report, China’s imports of unwrought aluminium and aluminium products stood at 429,464 tonnes in August, the highest in more than 11 years, according to the General Administration of Customs. The increase in import was due to lower overseas prices. China remained a net importer of aluminium for a second consecutive month. August imports hit the highest monthly tally since April 2009, beating July’s strong reading. Imports of unwrought aluminium and aluminium products increased from 52,121 tonnes in August 2019. Monthly aluminium imports had been seeing year-on-year gains since May. On a month-on-month basis, imports rose 9.8%. China’s import volumes were higher than its export total of 395,424 tonnes for August. Note to readers : AlCircle brings two-day event for...
The Philippines' economy is considered as one of the most dynamic economies in East Asia and the Pacific. Amidst lingering global and local uncertainties, the Philippine economy is poised to grow at 6.4% in 2019 and 6.5% in 2020 and 2021. The Southeast Asian nation’s aluminium foil importation during 2017-19 reveals quite steady and enterprising market, as the import volume stood at 51,639 tonnes and foreign revenue expenditure stood at $198.16 million. The import for 2020 is expected to remain at 18,829 million and expenditure to stand at $74.61 million. However, when the 2020 import volume and expenditure gets added to the previous three years it demonstrates 70,468 tonnes and $272.77 million respectively. Philippines import of aluminium foil in 2017 remained to only 12,914 tonnes and...
The new aluminium price list of Vedanta shows that the company has reduced its aluminium ingot and aluminium product prices further for the second consecutive day, with effect from Thursday, September 24. With the latest cut, Vedanta’s aluminium ingot price is now ranging between INR 144,250 per tonne and INR 157,250 per tonne, down by INR 2,250 per tonne or 1.5 per cent from INR 146,500-159,500 per tonne on September 18. This week Vedanta has increased the cut of its aluminium ingot price by INR 250 per tonne from the previous week in line with the continuous downfall in global aluminium price on the London Metal Exchange. Vedanta, like any other Indian aluminium producers, links its aluminium product prices to the three-month futures of aluminium on London Metal Exchange. Since...
Hindalco Industries Limited has continued to reduces its aluminium products price for the second time in a row. With effect from Thursday, 24 September 2020, , the company’s wire rods price stands at INR 156,600 per tonne, marking a drop of INR 1,500 per tonne from INR 158,100 per tonne on September 19. The company is now selling its billets at INR 152,600 per tonne as of Thursday, 24 September 2020, down INR 1,500 per tonne from INR 154,100 per tonne on Saturday, 19 September. Hindalco aluminium ingots price stands at INR 145,500 per tonne, a drop of INR 1,500 per tonne from INR 147,000 per tonne. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down so far in...
Three-month LME aluminium trended lower on Wednesday, September 23. It closed 1.38% weaker at US$1,754.5 per tonne. As of Wednesday September 23, LME aluminium cash (bid) price stands at US$ 1718.50per tonne, LME official settlement price stands at US$ 1718.50per tonne; 3-months bid price stands at US$ 1759 per tonne, 3-months offer price is US$ 1759 per tonne; Dec 21 bid price stands at US$ 1835 per tonne, and Dec 21 offer price stands at US$ 1835 per tonne. The LME aluminium opening stock stood at 1486175 tonnes. Live Warrants totalled 1230750 tonnes, and Cancelled Warrants were 255425 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1770.94per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to stand at US$ 2046 per tonne on...
Aluminium Stewardship Initiative has certified AMAG Austria Metall AG against Custody Standard Certification for aluminium remelting/recycling, casting, and rolling activities at production facilities in Ranshofen, Austria. High-quality cast alloys are manufactured in Ranshofen from recycled aluminium, destined for use in a wide range of end-use sectors such as aircraft, architecture, automotive and transportation, packaging, and sporting goods. AMAG has a strong focus on recycled materials and the realisation of closed loop concepts. In September 2018, AMAG’s Ranshofen plant was certified against the ASI Performance Standard. Fiona Solomon, Chief Executive Officer at ASI, said: “We warmly congratulate AMAG on their ASI Chain of Custody Certification. Having a scrap utilisation rate of...
Zhejiang Geely Holding Group, commonly known as Geely rolls-out its first electric vehicle-focused platform on 23 rd September’20, intended to up-rise a variety of models more proficiently for both the Chinese automaker and its partners. As the global auto industry exercises towards investment in electric and high-tech vehicles, manufacturers from Volkswagen AG to General Motors Co. have initiated platforms for electric vehicles (EVs). An Conghui, President, Zhejiang Geely Holding Group, said: “Sustainable Experience Architecture (SEA) will be able to support small as well as large vehicles, including sedans, SUVs, vans and pickup trucks.” The President also added: “Geely, which has a 9.7% stake in Daimler AG, spent $2.6 billion on research and development for SEA. SEA uses more aluminium...
According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a sharp downfall of RMB 290 per tonne, the highest since August, to stand at RMB 14,270 per tonne on Thursday, September 24. The average prices are expected to range between RMB 14,250 per tonne and RMB 14,290 per tonne, with spot contract to be traded at a premium price of RMB 210-250 per tonne, up by RMB 110 per tonne from the previous day. SMM believes the change in consumption pattern has affected the aluminium ingot price trend. The consumptions of aluminium in September remained slightly weaker than expectations. Besides, the output has increased with the ramp-up or resumption of production capacity in Sichuan, Yunnan and Inner Mongolia. So, as of mid-September, the domestic primary aluminium operation...
