Futures: SHFE aluminium closed at RMB 22,530 per tonne, rebounding 1.1 per cent. Despite the positive close, prices remained under pressure below all key moving averages (MA5=22,727, MA60=23,633), with the medium-term bearish alignment intact. MACD indicator lines (DIF=-244.16, DEA=-188.68) operated below the zero axis, but the green bars narrowed significantly to -110.96 (previous day -150.62), indicating a marked weakening of bearish momentum and initial signs of a technical bottom divergence repair. Trading volume expanded to 101,500 lots, suggesting capital inflows at the bottom. The recommended core trading range for SHFE aluminium is 22,000-22,800. LME aluminium closed at USD 3,078.5 per tonne, surging 2.02 per cent. Prices rebounded strongly, reclaiming MA5 (3,061.5), MA10...
Novelis is advancing beverage can coating testing and research resulting from its long-standing relationship with the Georgia Institute of Technology (Georgia Tech). Researchers from Georgia Tech’s School of Chemical and Biomolecular Engineering, working in collaboration with Novelis, have developed advanced testing capabilities that significantly reduce the time required to evaluate how beverages interact with protective coatings inside aluminum cans. The new approach allows researchers to collect data throughout the testing process, providing a clearer picture of how coatings perform while reducing testing cycles from months to just weeks. For beverage makers, faster testing could mean faster decisions about packaging and ultimately help shorten the time it takes to bring new products...
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According to a recent report, the tension between locals and authorities of Vedanta alumina refinery at Lanjigarh in Kalahandi district has subsided today on March 19, after a mutual discussion between the two parties. The tension had taken place on Monday, March 18, after Rengalpali villagers tried to break into the factory to demand jobs. However, urging for peace Vedanta spokesperson had stated, "We will submit our statement to the authorities and provide every support to resolve the matter. We urge the people of Lanjigarh Block to maintain peace." Vedanta Limited has proposed to invest $250 million to $300 million in the next fiscal, in a bid to expand the capacity to six million tonnes per annum from its current 1 million tonnes, according to reports early this year. As per domestic...
According to the latest report from Aluminum Association, shipments of can stock by domestic producers was down 5.7 per cent year-on-year to 130725 tonnes during February 2019. Compared to the previous month, shipments dropped 11.2 per cent from the January 2019 total of 147236 tonnes. Year-to-date shipments through February 2019 totalled 277961 tonnes, down 5.9 percent year-on-year from 295515 tonnes. Compared to February 2018, producer shipments of can stock to U.S. markets rose six-tenths of one percent to 120564 tonnes. Exports stood at 10160 tonnes, a drop of 46.1 percent. Shipments of aluminium foil by U.S. and Canadian producers stood at 33747 tonnes February 2019, off five-tenths of one percent from the February 2018 total of 33928 tonnes. Compared to the previous month, shipments...
The US dollar changed little against a basket of currencies, sticking close to a two-week low. Base metals closed mixed and LME aluminium jumped 1.5%. SHFE aluminium increased 0.51%. A lower US dollar lifted LME aluminium from last Friday’s closing to US$1879 per tonne during the first day of the week. As shorts exited, LME aluminium rebounded from a low of US$1,880.5 per tonne and jumped to the highest since February 18, at US$1,928.5 per tonne during night trading. It may trade at US$1,860-1,940 per tonne today. As on March 18, LME aluminium cash (bid) price stood at US$ 1878 per tonne, LME official settlement price stands at US$ 1879 per tonne; 3-months bid price stands at US$ 1898 per tonne, 3-months offer price is US$ 1899 per tonne; Dec 20 bid price stands at US$ 2025 per tonne, and...
The A00 aluminium ingot price continues to grow today, on March 19, to reach RMB 13,870 per tonne, found Shanghai Metals Market. Yesterday, on March 18, the price was at RMB 13,810 per tonne, which represents that it has grown today by RMB 60 per tonne. The average prices are expected to range between RMB 13,850 per tonne and RMB 13,890 per tonne, with spot premium to settle at RMB 220 per tonne to RMB 260 per tonne. Yesterday the spot premium was expected to settle at RMB 230 per tonne to RMB 270 per tonne, which shows that it has dipped by RMB 10 per tonne today. In the east (Wuxi and Jiangsu), the ingot price has grown by RMB 90 per tonne to stand at RMB 13,885 per tonne and RMB 13,900 per tonne. In the south and north, on the other hand, the ingot prices are up by RMB 70 per tonne and...
Shanghai Metals Market anticipates that operating rates across prebaked anode producers may continue to decline in March as sluggish prices in the market will prevent some plants from recovering after the winter heating season. As of the middle of March, downstream consumption remained poor while primary aluminium plants continued to cut capacity in February. Cash flow issues and aluminium smelters’ demand for high-quality products are some of the other factors that can affect prebaked anode producers operations in March, found SMM. The research data of SMM showed that operating rates across China’s prebaked anode producers had averaged at 57.97 per cent in February, down 0.99 percentage point from January. A falling market and production cuts were some of the reasons behind lowered...
The second annual Global Recycling Day was celebrated yesterday, March 18, in Washington, DC. Communities and individuals around the world gathered together to celebrate the Global Recycling Day. On the occasion, the Institute of Scrap Recycling Industries (ISRI) urged businesses, communities, policymakers, and individuals to increase their commitment to recycling and recognize scrap as an important resource. The institute also upheld the role played by recycling in environmental protection, energy conservation, and sustainability. Image: ESI-Africa “ISRI is proud to play a leading role once again in Global Recycling Day,” said Robin Wiener, president of ISRI. “As a society, it is imperative that we start considering recyclables to be the planet’s seventh and most important resource....
Emirates Global Aluminium (EGA) reportedly announced in a press release that it entered into a volume commitment extension contract with the global shipping company A.P. Moller – Maersk, in a bid to transport aluminium to all around the world. Maersk is one of EGA’s most significant shipping partners and has supplied shipping services to the UAE aluminium giant since 1992. Currently, EGA exports aluminium to customers in more than 60 countries worldwide, through 20 different shipping lines, and makes more than 11,000 shipments each year using over 100,000 containers. EGA’s aluminium is the second largest made-in-the UAE export after oil and gas. In 2018, EGA produced 2.6 million tonnes of cast metal. Over 80 per cent of EGA’s production is value added products, one of the largest among...
According to an update from Shanghai Metals Market, China’s eastern province of Anhui has aimed to install over 18,000 electric vehicle charging points by 2020 as part of its clean energy initiatives in transportation, according to release of Action Plan of Promoting the Adjustment of Transport Structure in Anhui Province on February 21. By 2020, some 150,000 units of new-energy vehicles (NEVs) will be produced and sold, along with the installation of 500 charging stations and battery swap stations, according to SMM. NEVs or clean energy vehicles that meet national emission standards will account for at least 80 per cent of logistics vehicles within the urban areas by 2020. The action plan also highlighted the shift of bulk cargo transport from road to rail and waterways. Recently,...
According to Shanghai Metals Market, operating rates across Chinese secondary aluminium producers dropped to a record low in February. The Chinese New Year holiday and poor end-market demand were the two main reasons for the decline, as suggested by SMM. Even in January, China’s secondary aluminium producers operating ratings were down by 2.37 percentage points from December. Its average rate in the said month was at 54.84 per cent, SMM data showed. The SMM survey had also warned that the operating rates would go further down in February, as large secondary mills were mostly closed for seven days over CNY while medium-sized and small producers were closed for up to 20 days. Operation recovery across the secondary aluminium sector in March remained slow so far, as the imminent VAT cuts...
Wall Street Journal reported that used beer and soda cans pile up in the U.S. scrapyards as rolling mills are turning to producing more profitable auto parts rather than recycling and turning the scraps to new can sheets. The news story says used cans are piling up at scrapyards because U.S. aluminium companies are producing higher-margin flat-rolled aluminium for automotive and industrial components. The story indicated a possible challenge facing aluminium recycling. This means the aluminium rollers are producing fewer sheets for beverage cans and more and more cans in the U.S. are being made from imported aluminium. However, the other side of the story says that it is a fact that the aluminium rollers in the U.S. are changing their product mix in order to earn higher margins. That does...
Guinea is the most significant bauxite supplier to the world with 7.4 billion bauxite reserve which is about 25% of the world’s total bauxite reserves. The country accounts for 95% of African bauxite production and 15% of world bauxite production according to the latest data from the US Geological Survey. {newsStudioGallery} With the highest bauxite reserves and a solid export-oriented growth plan, Guinea has been racing past many countries to become the key bauxite exporter globally. A four-year historical data set clearly indicates at that trend. According to our third-party data, the African nation is estimated to export 62 million tonnes of bauxite in 2019, compared with the estimated export amount of 55 million tonnes in 2018. This marks a growth of 13 per cent year-on-year. In 2016...
Norwegian aluminium company Norsk Hydro ASA has appointed Hilde Merete Aasheim as new President and CEO of Hydro. Aasheim succeeds Svein Richard Brandtzæg, who has decided to step down after 10 years. Aasheim's new role is effective May 8, 2019. Dag Mejdell, chairperson of Hydro’s Board of Directors said: “I am pleased to announce that Hilde Merete Aasheim has accepted the job as President and CEO of Hydro. Based on her unique combination of broad industrial experience, commercial instinct and strong leadership skills, Aasheim is the perfect fit as Hydro’s new CEO.” “With more than 30 years of experience from Norwegian and global industry and an impressive track record of industry-leading improvement and change processes, Hilde has what it takes to further strengthen Hydro’s position as a...
The US dollar dropped and recorded the biggest weekly loss in more than three months, affected by poor US economic data. Base metals ended mixed as LME aluminium closed 0.32% lower. SHFE aluminium fell 0.37%. LME aluminium fluctuated with the SHFE 1905 contract and dropped to US$1,900 per tonne during the Asian trading session. A lower US dollar lifted LME aluminium to US$1,904 per tonne, and settled it at US$1,896 per tonne. With the K-line indicator testing support at the 20-day moving average below, LME aluminium is expected to trade at US$1,860-1,930 per tonne today. As on March 15, LME aluminium cash (bid) price stood at US$ 1867 per tonne, LME official settlement price stands at US$ 1868 per tonne; 3-months bid price stands at US$ 1890 per tonne, 3-months offer price is US$ 1892 per...
A00 aluminium ingot price has increased over the weekend by RMB10 per tonne to clock at RMB13810 per tonne as of Monday, 18 March 2019. The average price is expected to range between RMB13790 per tonne and RMB13830 per tonne, with spot premium to settle at RMB230 per tonne and RMB270 per tonne. In the East (Wuxi and Hangzhou), the aluminium ingot price has increased by RMB5 per tonne and RMB20 per tonne to stand at RMB13795 per tonne and RMB13810 per tonne. Their average price is expected to range between RMB13790-13800 per tonne and RMB13790-13800 per tonne. In the South, the price has risen by RMB 40 per tonne to hover at RMB 13790 per tonne. The average price is expected to range between RMB13770 per tonne and RMB13810 per tonne. In the Northeast, the price has registered the highest...
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, rose 1,000 tonnes over the weekend ended on March 18 to come in at 1.755 million tonnes. New arrivals of stocks in Guangdong in the amount of 13,000 tonnes contributed to the gains in overall stocks over the weekend. However, compared to Thursday, March 14, the increase in primary aluminium inventories today was slower. On Thursday, the inventories had risen 5,000 tonnes from March 11, in contrast to the growth of 1,000 tonnes today. In Wuxi, Jiangsu and in Shanghai, the inventories fell over the weekend from 628,000 tonnes and 313,000 tonnes to 623,000 tonnes and 312,000 tonnes. In Hangzhou, Zhejiang and in Tianjin, the inventories plunged...
The oil-rich but crisis-ridden South American country of Venezuela suffered a massive blackout on March 7, affecting at least 18 of its 23 states. The power cut put the transport system in chaos and many facilities had to shut down in absence of power. The blackout started at 1:05 a.m. and lasted until 6:00 a.m. In those five hours, the last electrolytic cells still operating in the only two aluminium-processing companies in the country Venalum and Alcasa went off. The Venalum smelter was operating with 59 cells while Alcasa was operating with only 14. Both the companies were already at their minimum operational capacities, and they stopped entirely on Friday, March 8th. Alcasa was founded in 1957 and Venalum was founded in 1978. The huge energy requirement for these smelters was...
The Coca-Cola Foundation is reportedly funding community recycling pilots in seven cities across the United States, in a bid to encourage their efforts. The amount it is giving is $5.4 million, including $4 million for a three-year programme with the Recycling Partnership in Atlanta. “In each pilot city, local partners will work together to identify barriers to recycling on a local level and test a range of solutions,” said Carlos Pagoaga, group director of community partnerships for the Coca-Cola Foundation. In 2017, Recycling Partnership, with funding from Coca-Cola North America, had reached 5,000 households in Atlanta for a recycling education project. With the new grant, it aims to reach 10,000 households in the next three years. Street teams will pay a visit to every zip code in the...
The possibilities of aluminium are not limited to its obvious uses like automotive, construction, packaging and electrical. The white metal is opening up more and more avenues for the artists and designers to experiment with and come up with art pieces with both utility and aesthetic value. French craft designer Wendy Andreu’s creative process is based on material research and experiments. She applies her experiments to functional design concepts, such as seating elements, sculptural stools, and architectural shelves. The latest developments in her Regen series are the three seating elements, which are shaped directly in 3D. The elements are designed around strong metal templates to create soft and comfortable surfaces. Most of her experiments are done in rope, aluminium, and steel....
