China Aluminum International Engineering has proposed a CNY 6.6 billion (USD 988 million) fixed-price engineering, procurement and construction (EPC) contract for an alumina project in Guinea’s Boffa region. The agreement has not yet been signed and requires approval from independent shareholders before it can proceed. Under the proposed arrangement, China Aluminum International Engineering would undertake the project’s design and construction, while Chalco Guinea, a subsidiary of its controlling shareholder Chinalco, would act as the customer. The proposed contract requires approval from independent shareholders. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows &...
Australian mineral exploration and development company Impact Minerals is advancing its Lake Hope High-Purity Alumina (HPA) Project in Western Australia, with a pilot-scale test programme, eyeing around 20kg of 4N high-purity alumina for independent verification and potential customer evaluation. The initiative builds on earlier laboratory research and aims to validate the company’s processing flowsheet as it moves towards commercial-scale development. Edith Cowan University is constructing a pilot facility in Joondalup under a Cooperative Research Centres Projects (CRC-P) collaboration backed by the Australian Government. The facility would reinforce mineral processing, leaching and related development activities. Impact Minerals has appointed Simulus Group to oversee testing involving...
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The Board of Directors of Aluminium Extrusion Industries Plc (ALEX), the Nigerian pride in aluminium profiles has announced the resignation of three Non-Executive Directors from its Board. Aluminium Extrusion Industries Plc is a leading manufacturing company in Nigeria producing and marketing extruded aluminium products. According to a notification delivered to the Nigerian Exchange Group Limited (NGX) and picked out by Nairametrics, the affected Directors are Jinesh Chandra Dugad, Vivek Goel and Prasanta Kumar Ganguly. The Board meeting that was held on 20th March 2021 in line with statutory procedures deliberated on the requests by the aforementioned Directors to resign from their positions and approval was granted eventually. Subsequently, it is relevant to note that the resignation of...
The Russian government’s press service has confirmed that the aluminium produced in Russia will be imposed with an export duty of 15% plus $254 per tonne from 1st August through 31st December. On 25th June 2021, Russian Prime Minister Mikhail Mishustin signed an official decree towards the approval of export duties on 340 non-ferrous and steel products. Primary aluminium, under harmonized system code 760110, will also be taxed. Products like aluminium bar, rod and profiles were not targeted, while some specific aluminium alloys were included in the list. The export tariff bears a 15% base rate and a specific rate of $254 per tonne. In recent years, Russia is not very much considered a major supplier of primary aluminium to North America. Alternatively, it had been selling mainly...
Hindalco Industries Limited increased its aluminium products prices by INR 4,500 per tonne or 2 per cent with effect from Saturday, June 26. Hindalco’s aluminium wire rod price came in at INR 221,100 per tonne on June 26 compared to INR 216,600 per tonne on June 24. The company’s aluminium billets price grew from INR 212,600 per tonne on June 24 to INR 217,100 per tonne on June 26. Hindalco’s aluminium ingot price also saw an increase of INR 4,500 per tonne from INR 205,500 per tonne to INR 210,000 per tonne as of June 26. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after June 22 increased by US$ 41 per tonne to stand at US$ 2,904 per tonne as of June 25. On a month-on-month basis, the price...
National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium product prices with effect from Friday, June 25. NALCO’s aluminium ingot price saw a hike of INR 3,800 per tonne or 1.9 per cent from INR 199,450-202,950 per tonne on June 22 to INR 203,250-206,750 per tonne on June 25. NALCO’s aluminium wire rod price came in at INR 206,750-211,100 per tonne, also up by INR 3,800 per tonne from INR 202,950-207,300 per tonne. NALCO’s aluminium billets price also increased by INR 3,800 per tonne from 202,900-205,550 per tonne to INR 206,700-209,350 per tonne. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after June 22 increased by US$ 41...
The French Polynesian economy has been heavily impacted by the COVID-19 crisis, due to its reliance on international tourism. It was able to rebound strongly after being previously impacted by the Global Financial Crisis and had experienced a long period of continuous growth. The French overseas territory with significant political autonomy, French Polynesian has recorded import of 1426 tonnes of aluminium cans in 2018-19 and the expenditure occurred for the import accounted to $5.61 million. The import for 2020 stood at 596 tonnes and the expenditure remained at $2.51 million. However, when the import volume and expenditure of 2020 gets assorted with the existing two years, it denotes 2022 tonnes and $8.12 million respectively. In 2018, the import of aluminium cans was registered at 608...
According to the International Aluminium Institute, world alumina production in May 2021 stood at 12.166 million tonnes. That was up by 3.86 per cent from 11.714 million tonnes in April 2021. However, the output in April was down by 1.82 per cent from 11.931 million tonnes in the previous month. On a year-on-year calculation, world alumina production in May recorded an increase of 8.57 per cent from 11.206 million tonnes. In the first five months of the year, world alumina production totalled 58.158 million tonnes – 6.07 per cent higher than 54.829 million tonnes during the corresponding period last year. In China, alumina production in May came in at 6.510 million tonnes, reflecting an increase of 3.33 per cent from 6.300 million tonnes. On a year-on-year basis, the output grew 10.90 per...
The wait is over, the day has come, AlCircle Expo 2021 goes live today at 9:00 AM GMT. We are electrified to welcome the global aluminium value chain associates under one roof. AlCircle Expo 2021 is a virtual platform where you can expand your business networks, meet and greet old and new clients, explore new business ideas and share success stories. So travel restriction should not be a concern now? Experience a real live event at AlCircle Expo 2021. Given below is the final list of exhibitors & sponsors of AlCircle Expo 2021: If you have not registered so far for AlCircle Expo 2021, hurry up and visit https://live.alcircleevents.com/registration/99163627/5 to register now to attend the event. The registration process is still open and is FREE. AlCircle Expo 2021with more than 1000+...
A00 aluminium ingot price in China has dropped by RMB 10 per tonne on Tuesday, June 29, after the two consecutive days of hike, found the Shanghai Metals Market. The price is thus standing at RMB 18,820 per tonne, with average prices expected to range between RMB 18,800 per tonne and RMB 18,840 per tonne. The spot contract is likely to be traded at a premium price of RMB 40-0 per tonne. In Wuxi and Chongqing, A00 aluminium ingot price has declined by RMB 35 per tonne to stand at RMB 18,790 per tonne and RMB 18,810 per tonne, while the price in Gongyi and Hangzhou has fallen by RMB 30 per tonne to come in at RMB 18,700 per tonne and RMB 18,800 per tonne, respectively. In Tianjin and Linyi, primary aluminium ingot price has dropped by RMB 20 per tonne to RMB 18,780 per tonne and RMB 18,810...
On 28th June 2021, National Aluminium Co Ltd (Nalco), one of the largest integrated primary producers of aluminium in Asia has reported a nine-fold leap in consolidated profit at INR 935.74 crore for the quarter ended 31st March 2021, powered by strong operational performance and favourable prices. While filing to BSE, Nalco said: “The Company had posted a consolidated profit of INR 100.51 crore in the year-ago period.” The company owned by the Ministry of Mines, Government of India, Nalco’s consolidated income rose to INR 2,874.47 crore when compared to INR 2,042.27 crore in the year-ago period. Sridhar Patra, CMD, Nalco said: "After the peak period of COVID-19 outbreak and with the opening of the markets, we witnessed a significant recovery in the second half of the financial year of...
Three-month LME aluminium rose 1.46 per cent to close at US$ 2,531 per tonne on Monday. It is expected to trade between US$ 2,480 per tonne and US$ 2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price increased by US$ 7 per tonne to come in at US$ 2,458 per tonne on Monday, June 28. 3-months bid price and 3-months offer price stood at US$ 2,477.50 per tonne, up by US$ 7.5 per tonne from US$ 2,470 per tonne. However, Dec 22 bid price and Dec 22 offer price decreased from US$ 2,443 per tonne on June 25 to US$ 2,437 per tonne on June 28. LME aluminium opening stock further declined from 1596450 tonnes to 1586150 tonnes. Live Warrants remained restrained at 941875 tonnes, while Cancelled Warrants stood dropped to 644275 tonnes. Meanwhile, LME aluminium...
On 28th June 2021, Sanjeev Gupta-owned GFG Alliance stated that it is advancing towards a major restructuring, which will allow it to pay back creditors, following the collapse of its principal lender Greensill Capital in March. The statement added: “This, in turn, will allow GFG to refocus its business, protect jobs and develop further its remaining assets.” The commodity group has been under stress to look out for refinancing its cash-starved nexus of businesses in aluminium, steel, and energy after lending firm Greensill filed for insolvency. Sanjeev Gupta’s GFG said: “The Company had agreed on a framework with Greensill Bank’s administrators for positive direct engagement to achieve an amicable resolution.” The announcement came following GFG and Credit Suisse said in the previous...
The steep rise in raw material prices is denting micro, small and medium enterprises (MSMEs) and govt. of India should entail immediately to intervene through policy decisions, said Goa State Industries Association (GSIA). Along with 170 MSME associations across India, GSIA has written to Narendra Modi, the Prime Minister of India, articulating disquiet over the unstable situation that can seed a permanent dent in the Indian MSME sector. The sector bodies have enlightened the government that despite the demand plunge due to lockdown restrictions in multiple states, prices of raw materials, especially aluminium among others are soaring. The associations have joined under the roof of the All India Council of Association of MSMEs (AICA) and have written to the Prime Minister seeking his...
Primary aluminium production in Africa stood at 136,000 tonnes in May 2021, reflecting an increase of 4.62 per cent month-on-month, found the International Aluminium Institute’s latest data. In April, primary aluminium output in Africa was 130,000 tonnes – only 1,000 tonnes less than 131,000 tonnes in the previous month. In the last three months of 2021, Africa produced 397,000 tonnes. On a year-on-year calculation, primary aluminium production in Africa stood 3,000 tonnes lower in April 2021 compared to 139,000 tonnes. In the first five months of 2021, primary aluminium production came in at 651,000 tonnes, down by 3.41 per cent from 674,000 tonnes a year ago. Worldwide primary aluminium production stood at 5.744 million tonnes –less 3.63 per cent month-on-month than 5.543 million tonnes...
Only one more day to go to the “ AlCircle Expo 2021 ” and we cannot keep calm. We are excited to welcome you all to the event on June 29 & 30 where you can expand your business networks, meet and greet old and new customers, explore new business ideas and share success stories. So what if travel is still a constraint? Experience a real live in experience in this Expo. Given below is the list of confirmed exhibitors & sponsors of AlCircle Expo 2021. Like the prior event, the expo 2021 is also aimed at bringing the aluminium industry leaders and partners from the entire value chain of aluminium under one roof virtually, driven by more advanced technology to enable them to build a stronger network. Besides video calls, exchange of digital business cards, brochures, and product demos,...
The economy of Qatar will regain its positive growth of 2.9% in 2021, as the economy benefits from a recovery in Chinese and global LNG demand, as well as the rapprochement with the former boycotting quartet Saudi Arabia, the UAE, Bahrain and Egypt. The peninsular Arab nation’s export of aluminium scrap during 2018-19 was recorded at 10,605 tonnes and the earnings posted for the export was $9.39 million. The export for 2020 remained at 6498 tonnes and the earnings stood at $8.67 million. However, when the export volume and earnings for 2020 gets assorted with the existing two years, it denotes 17,103 tonnes and $18.06 million respectively. Qatar’s export of aluminium scrap in 2018 was registered at 6594 tonnes and the earnings accounted was $7.35 million, whereas, in 2019 the export saw a...
Three-month LME aluminium rose 2.23 per cent to close at US$ 2,494.50 per tonne on Friday. It is expected to fluctuate between US$ 2,440 per tonne and US$ 2,500 per tonne today. LME aluminium cash (bid) price and LME official settlement price jumped US$ 53.50 per tonne to come in at US$ 2,451 per tonne as of Friday, June 25. 3-months bid price and 3-months offer price stood at US$ 2,470 per tonne, up by US$ 46 per tonne from US$ 2,424 per tonne. Dec 22 bid price and Dec 22 offer price increased from US$ 2,406 per tonne on June 24 to US$ 2,443 per tonne on June 25. LME aluminium opening stock further declined from 1609100 tonnes to 1596450 tonnes. Live Warrants totalled 941875 tonnes, while Cancelled Warrants stood at 654575 tonnes. Meanwhile, LME aluminium 3-months Asian Reference Price...
Sri Lanka’s largest and the most outstanding aluminium and copper cable manufacturer with footprints in international markets has recorded an escalation in all-time revenue generation of Rs. 5.2 billion, an upswing by 7% from the previous year. The Group also booked the highest ever profit after tax (PAT) of Rs. 314 million up 37.4% from FY20. The cable company said: “The financial performance underscores the group’s ability to maintain a healthy Gross Profit margin (GP) of 15.6% and Net Profit margin (NP) of 5.7%.” “This is a commendable performance considering the prevailing pandemic and turbulence environment that the company had to operate in.” The revision to the company’s national long-term rating to AA- (lka) manifested as an encouraging exposure that gained the stakeholder...
According to the Shanghai Metals Market, A00 aluminium ingot price has extended growth by RMB 60 per tonne to come in at RMB 18,830 per tonne on Monday, June 28. The average prices are expected to range between 18,810 per tonne and RMB 18,850 per tonne, with spot contract to be traded at a premium price of RMB 30-10 per tonne. In Wuxi and Shenyang, A00 aluminium ingot price has gained RMB 55 per tonne to stand at RMB 18,825 per tonne and RMB 18,810 per tonne, respectively, on June 28. The price in Chongqing and Linyi has built-up RMB 50 per tonne to close at RMB 18,850 per tonne and RMB 18,830 per tonne, while the price in Tianjin has increased by RMB 40 per tonne to come in at RMB 18,800 per tonne. In Gongyi and Hangzhou, primary aluminium ingot price has inched up by RMB 20 per tonne...
