In the final three trading days before the National Day holiday, the South China spot market stayed soft: aluminium prices continued to edge lower, the SHFE aluminium backwardation structure strengthened, and premiums over the next-month and far-month contracts were actually elevated. Ahead of the holiday, the willingness to cash out at the high basis was strong, and amid ongoing destocking, discount-priced cargoes still dominated spot circulation; demand was largely subdued, with only localized bargain-hunting replenishment and quite limited buying interest. On the whole, however, the high spot premium for aluminium ingots in South China remained largely intact. As of September 30, the SMM A00 aluminium (Foshan) spot premium over the 2610 contract stood at RMB 260 per tonne, still within...
Hindalco Industries is moving to structured digital tenders for spot sales of metallurgical-grade alumina in a bid to improve transparency, broaden market participation and strengthen price discovery in the global alumina market. The company is partnering with Metalshub for the initiative through its subsidiary Utkal Alumina International. The move comes as the alumina market continues to lack the transparent, transaction-based pricing mechanism available for aluminium. Hindalco said only around 10 per cent of the 55–60 million tonnes of alumina traded globally each year in the third-party market is sold through spot transactions, even though those sales can influence benchmark prices for a much larger volume of long-term contracts. Hindalco moves alumina spot sales to digital bidding...
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Almost three decades ago, the ThinkPad Laptop debuted in the electronics market but was purchased by Lenovo from IBM in 2005. To celebrate the birth anniversary of the brand, Lenovo has bestowed the responsibility of developing a new ThinkPhone to its mobile phone division Motorola. The Motorola engineers were tasked with traversing the original idea of ThinkPad into the compactness of a mobile phone. They successfully charted the design with Mil-spec (810H) and IP (IP68) ratings, which means the devices are immune to sudden impact and are water resistant. These ideas have emerged from the father ThinkPad model. For such advanced ideation, the experts have used an Aramid Kevlar fibre weave on the hind side, a product more robust than steel. The structure has then been supported with an...
Global non-ferrous metal prices, including aluminium, witnessed a downfall in April 2023. Despite the fall of aluminium inventories in LME warehouses and also China, prices still remained on the downtrend. The resumption of the Chinese economy during the latter part of the year 2022 anticipated positivity to the industrial market, but the economic slowdown of the Chinese market has resulted, to an extent, in the downfall of the prices. The production cut in China's Yunnan province continues due to the hydropower crisis, as the region has not received sufficient rain as it used to. Weather experts have forecasted this might continue for the year. Inflation and the fear of recession in the Western world might also cause low demand. Sustainability remains a crucial subject in the global...
Aluminium Stewardship Initiative has reportedly acknowledged Jiangsu Goka Light Alloy Co., Ltd. with the Performance Standard V2 (2017) Certification for producing aluminium extrusion profiles at Xiangshui County Industrial Park, Yancheng City, Jiangsu Province, China. Established in 2020, Jiangsu Goka Light Alloy Co., Ltd. produces aluminium extruded products in various alloys for the automotive sector, including crash alloy, high electrical conductivity 6XXX alloy, high strength 6XXX alloy, and high strength 7XXX alloy. It has an annual design capacity of 35,000 tonnes. Spread across 44,000 square metres, the factory houses world-class advanced production and test equipment imported from Europe. On receiving the ASI certification, Bin Luo, General Manager of Goka Light Alloy, said:...
According to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) data, Iran’s aluminium ingot production during the calendar year 1401 (ended March 20, 2023) stood at 632,166 tonnes. On a year-on-year calculation, Iran’s primary aluminium output edged an increase of 17.36 per cent from 538,633 tonnes, showed IMIDRO. In the preceding year, Iran’s aluminium ingot output had reflected a rise of 20 per cent. Among the country’s four major producers, South Aluminum Corporation (SALCO) produced the highest aluminium ingot of 270,185 tonnes, followed by Iranian Aluminum Company (IRALCO)’s output of 178,077 tonnes. Almahdi Aluminum Company produced 147,749 tonnes, and Iran Alumina Company churned 36,155 tonnes of aluminium ingot. IMIDRO data indicated that...
SDE Technology recently welcomed Robert Joyce as its inaugural non-executive advisor. With a wealth of experience as a supply chain specialist at renowned companies such as BMW, Rover and Jaguar Land Rover, Joyce is a highly respected expert in the automotive industry. SDE Technology believes this will enhance the company’s aluminium components-making abilities while creating 20 new job opportunities. The Shrewsbury-based manufacturer has a distinct client base of renowned carmakers for whom it provides precisely engineered pressings and assemblies. Robert Joyce will be responsible for the company’s new venture into modernistic ideas, including electrification and lighter components that create the latest car shapes. The managing director of SDE Technology, Richard Homden, stated: “This...
According to the International Aluminium Institute, the world alumina production stood at 11.417 million tonnes in March 2023, bringing the total output in the first quarter of the year to 33.175 million tonnes. Hence, the quarterly output ended March 31 decreased by 5.5 per cent quarter-on-quarter from 35.090 million tonnes and dropped 1.14 per cent year-on-year from 33.556 million tonnes. The monthly production of alumina in March 2023 stood 10.44 per cent higher than 10.338 million tonnes in February but edged a slight fall of 0.89 per cent from 11.519 million tonnes in March 2022. The world’s daily average production of alumina in March 2023 was 368,300 tonnes – 0.24 per cent less M-o-M than 369,200 tonnes and 0.89 per cent Y-o-Y from 371,600 tonnes. In China, alumina production...
The century-old iconic Italian luxury and high-performance car manufacturer Alfa Romeo is on the path of rapid transformation, with bold plans for the classic Italian brand – which observed its 113th anniversary in 2023, to be entirely electric by 2027, following the road to a zero-carbon future. The Tonale SUV debuted in 2022, driven by a 1.5-litre petrol engine with mild-hybrid technology. However, Alfa has now released a plug-in hybrid (PHEV) version, significantly boosting the Tonale's performance. The PHEV is a significant feature when considering the possibility of increased efficiency and pure electric driving. A six-speed automatic gearbox with huge aluminium metal paddle shifters. A 180hp 1.3-litre four-cylinder petrol engine powers the new Tonale's front wheels. A 90kW electric...
Impact Minerals has secured definitive commitments from its two major owners, the Bunnenberg Family Office and ABC Beteiligungen, to fund $4,000,000 via a placement at 1.2 cents per share to speed up the development of Lake Hope High Purity Alumina (HPA) project in Western Australia, in which the business recently announced an option to acquire an 80% stake by completing a Pre-Feasibility Study (PFS). "Since announcing the acquisition, our work has confirmed the project's significant potential, and we have now exercised the option to earn an 80% interest by completing a Pre-Feasibility Study. With the new funds, we can now accelerate this study and produce final products that can be provided to potential customers for qualification testing. We have already made considerable strides in...
In the 17 th week of 2023, non-ferrous metals prices on the London Metal Exchange (LME) stayed negative. However, despite modest transactions, the market started to decline. All major non-ferrous metal stocks at LME-registered warehouses decreased by up to 2.9 per cent week over week. But copper increased by 24.4% to 64,550 tonnes. The dollar index, which evaluates the dollar's value concerning a basket of six foreign currencies, was at 101.67, remaining steady from the previous week. In March, people's income in the United States increased by 0.3 per cent or $67.9 billion, and their disposable income increased by 0.4 per cent or $71.7 billion. People spent slightly more money, with personal consumption rising by less than 0.1 per cent or $8.2 billion. The price of goods and services...
A senior executive from one of the American multinational auto majors stated that the conflict would be more about talent than technology. He quoted the lines while discussing using engineering skills in a disruptive period with rising industry player competition. In a recent interview, one of the top Indian technology executives who has been in the industry for almost four decades and attached to the country’s major automaker said whatever technological progressions in the previous decade will be and have been avant-garde in the automobile sector. He added that the coming ten years would be much more challenging but would be stuffed with opportunities and an exciting phase for the global auto sector. While talking about the customer’s viewpoint, he said customers are growing more...
The leading and award-winning developer based in Dubai, UAE, Azizi Developments has partnered with Peri, the German manufacturer and supplier of formwork and scaffolding systems, for its Beachfront 1 project, which is regarded as a crucial component of its upscale waterfront Riviera project. Beachfront 1 is a three 14-story complex in MBR City that offers 252 studios, 84 one- and two-bedroom residences, and 19 retail spaces for 439 units. PERI has one of the world's most comprehensive ranges of formwork systems, not to mention a wealth of expertise in the formwork business. PERI, a family-owned company, has been in the market for over 50 years and has always been a trendsetter regarding formwork technology. According to the latest AlCircle industry-focused report, ' Global Aluminium...
On Thursday, April 27, the domestic aluminium billet social inventory plunged by 10,600 tonnes W-o-W to stand at 142,000 tonnes . Foshan and Wuxi were the primary contributors to the drop in stock, while other locations saw little to no movement in their inventory. This week, the weekly average shipments out of social warehouses in major markets decreased by 3,700 tonnes on a weekly basis, bringing the total to 41,000 tonnes. Most downstream businesses hardly stocked up in preparation for the upcoming Labour Day vacation because they were confident that their raw material supply would be sufficient to maintain output throughout the holiday week. The figure below provides further information on the current state of aluminium billet inventories in China: As per the SMM data, the inventory...
The Japanese multinational automobile conglomerate Honda has officially announced that they are developing a specialized electric vehicle platform. The future EV platform is planned to give birth to a mid to large-size model, with a global delivery date of 2025. During a recent presentation on the company's future objectives, the senior executive of the auto giant shared this excellent news. Electric vehicles (EVs) have brought big-time attention to the global aluminium industry. Each EV uses about 250 kg of aluminium worldwide on average. The EV sector is very much for metal aluminium since it is not only one of the most affordable materials but also one of the lightest. It helps lower the structure's overall weight while preserving strength. For instance, the Tesla car models use about...
On Friday, April 28, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$38.5 per tonne or 1.67 per cent and US$40 per tonne or 1.73 per cent to settle at US$2,340 per tonne and US$2,342 per tonne. LME aluminium 3-month bid price and 3-month offer price expanded by US$32.5 per tonne or 1.40 per cent and US$34 per tonne or 1.47 per cent to peg at US$2,342 per tonne and US2,344 per tonne. December 24 bid price and December 24 offer price increased by US$35 per tonne or 1.40 per cent to stand at US$2,522 per tonne and US$2.527 per tonne. LME aluminium opening stock came in at 568500 tonnes. Live warrants and Cancelled warrants were recorded at 491675 tonnes and 76825 tonnes. LME aluminium 3-month Asian Reference Price decreased by US$0.18 per tonne to...
The exclusion of aluminium from the strategic raw material list put down by the European Commission has raised fundamental questions about the long-term future of the primary sector. Anna-Michelle Asimakopoulou, the vice-chair of the European Parliament's International Trade Committee (INTA), explained how bauxite has been included, the raw material used in extracting aluminium. At the same time, the 100% per cent recyclable variant has been removed. Alcoa, the eighth largest aluminium producer, records a price hike for declining orders and posts an 18.92 per cent year-on-year revenue fall. The gradually declining state of the western economy has kept a check on the LME aluminium price, with it falling this week by US$86.50 per tonne or 3.62 per cent to rest at US$2,302 per tonne on...
Norsk Hydro said on Thursday that it would sell a 30 per cent share in Brazilian alumina refinery Alunorte and a 5 per cent investment in bauxite producer Mineracao Rio do Norte to Swiss miner and trader Glencore. However, in a recent update, Glencore plans to pay about $700 million for the equity interests upon the conclusion of the agreement in the second half of 2023, according to a separate statement, which will provide the miner and dealer with a proportional offtake of the metal. "The growing decarbonisation trend is driving demand not only for the mass production of batteries that require the raw materials which Glencore produces but also for primary aluminium as a strong, lightweight manufacturing metal," said Robin Scheiner, head of alumina and aluminium at Glencore. As per the...
The recycled sector has been witnessing a steady bloom in the past few years, with all the major companies investing on a large scale to align their businesses with the current sustainability goals laid out by world associations. In collaboration with premium companies and specialists, BMW AG has churned the fortune wheel to have a better scope at a circular economy with the recycling of end-of-life cars with the Car2Car project. Ball Corporation has been running the "Play Clean" recycling programme for the past 15 years, intending to raise awareness. This year marks Ball's third venture with Kroenke Sports & Entertainment (KSE) in educating people about sustainable practices. As per the US Census Bureau data, the aluminium scrap export volume has made an unprecedented leap of 358 per...
On Friday, April 28, Aluminium Stewardship Initiative announced that it certified Aluminij Industries d.o.o. against Performance Standard V3 (2022) certification for producing and selling foundry aluminium alloys in the form of billets, slabs, and small ingots at its facility in Mostar, Bosnia. The company represents Bosnia and Herzegovina as the first recipient of ASI certification. Aluminij manufactures a wide range of foundry aluminium alloys using recycled aluminium, primary aluminium and pre-alloys. It is the largest importer and exporter of the materials in Bosnia and Herzegovina, with an annual production capacity of more than 200,000 tonnes. The brand new ASI Performance Standard V3 (2022) certification defines 11 principles and 62 criteria under three sustainability pillars –...
