AlCircle News Edited By "Debanjali Sengupta"
Debanjali Sengupta is a passionate content writer with 10 years of experience in Business writing, Web Content writing, Blogging, Editing and Research. She is responsible for generating and editing content for AlCircle Newsletter and other online and offline content for enhancing the brand value and its visibility among global users.
ASI acknowledges ALG Aluminium's rolling and casting operation against Performance Standard Certification
ALG Aluminium Inc. (ALG), a modern state-owned joint stock company invested in and controlled by Guangxi Investment Group Co., Ltd., has reportedly received ASI Performance Standard Certification for manufacturing aluminium alloy products at a facility in Nanning, China. The news came on Monday, February 13, after ASI officially announced it successfully acknowledged ALG’s casting, extrusion, hot-rolling and cold-rolling operations against Performance Standard. ALG’s Nanning facility has an annual capacity of 200,000 tonnes. The company’s aluminium plate, sheet, strip, coil and large-scale extrusion products are destined for use in the aviation and transportation industries. Fiona Solomon, Chief Executive Officer at ASI, said: “We congratulate ALG Aluminium Inc. for achieving Performance...
China’s A00 aluminium ingot price marks a W-o-W downfall of RMB540/t on Feb 14; Alumina spot price gains RMB1/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has dipped by RMB 10 per tonne, marking the fourth consecutive fall. The data suggests though the price has lost only RMB 10 per tonne on Tuesday, February 14, it has registered a week-on-week fall of RMB 540 per tonne. The price has come in at RMB 18,460 per tonne today, with average prices estimated to range between RMB18,440 per tonne and RMB 18,480 per tonne. The spot contract will likely trade at a discount price of RMB 50-10 per tonne. SMM data also shows that except for Foshan, all the Chinese provinces have uniformly experienced a downfall of RMB 10 per tonne. Thus, in Gongyi, Wuxi, and Hangzhou, primary aluminium ingot price has pegged at RMB 18,370 per tonne, RMB 18,455 per tonne, and RMB 18,470 per...
NALCO cuts its aluminium ingot price for the second time in less than a week by INR4300/t
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and aluminium products prices for the second time in a row within a week. With effect from Saturday, February 11, NALCO has reduced its aluminium ingot price by INR 4,300 per tonne or 1.8 per cent to INR 231,850-235,350 per tonne. The previous cut was on February 7 when NALCO’s aluminium ingot price experienced a plunge of INR 7,800 per tonne to INR 236,150-239,650 per tonne. On February 11, NALCO reduced its aluminium wire rod price by INR 4,300 per tonne to sell the product at INR 236,350-240,700 per tonne versus INR 240,650-245,000 per tonne on February 7. The company’s aluminium billets price is no exception but has also been cut by the same amount to INR 236,300-238,950 per tonne as of February 11, compared to INR...
India’s aluminium scrap imports from the US continue to display M-o-M downtrend in Nov’22: USGS
India’s aluminium scrap imports from the United States have been falling through the past three months to reach as low as 28,800 tonnes in November 2022 versus 40,800 tonnes in October, according to the US Census Bureau data. That was a month-on-month decline of 12,000 tonnes or 29.41 per cent in India’s aluminium scrap imports from the US during November. The imports in October also fell from the previous month, although slower, by 1,000 tonnes or 2.39 per cent from 41,800 tonnes. On a year-on-year calculation, India’s aluminium scrap imports from the US during November 2022 edged a sharp downfall of 20,100 tonnes or 41.10 per cent from 48,900 tonnes. Given the slowdown in India’s aluminium scrap imports from the United States since the last three months of 2022, the total volume of...
SMM finds Turkey’s local aluminium industry chain unaffected by the catastrophic earthquake
Shanghai Metals Market reported, based on CCTV news and CCTV international news, that although the catastrophic earthquake in Turkey brought devastating effects, including 5,894 people killed in Turkey and 1,832 in Syria, it barely disrupted the local aluminium industry. Seydisehir, the only primary aluminium smelter in Turkey, owned by Eti Aluminium, located nearly 500 kilometres away from the source of the earthquake, was unaffected. The smelter has an annual capacity of 80,000 tonnes of aluminium and 260,000 tonnes of alumina. On February 7 local time, the World Health Organization stated that as many as 23 million people were affected by the devastating earthquake. However, like Seydisehir, many downstream aluminium processing plants in Istanbul, 1400 kilometres away from the...
Vedanta’s aluminium wire rod price experiences a continued cut of 2% with effect from February 10
Vedanta Limited has further reduced its aluminium ingot and aluminium products prices in response to the incessant LME aluminium price fall for over a week. The latest price chart indicates the company’s aluminium wire rod price has experienced a cut of INR 5,000 per tonne or 2 per cent, with effect from Friday, February 10, to stand at INR 238,750-246,250 per tonne versus INR 243,750-251,250 per tonne on February 7. Vedanta’s aluminium billet price has also been axed by INR 5,000 per tonne, although at a lower rate than the cut of INR 6,250 per tonne on February 7. Vedanta is thus currently selling its aluminium billet at INR 240,250 per tonne, in contrast with INR 245,250 per tonne on February 7. The latest cut has brought the company’s aluminium ingot price to INR 231,250-261,750 per...
Hindalco deducts INR5000/t from its aluminium ingot price with effect from February 10
Hindalco Industries Limited has continued reducing the prices of its aluminium ingot and aluminium products, effective from Friday, February 10, for the past week. Today’s deduction marks the third consecutive cut bringing the company’s aluminium ingot price to INR 230,250 per tonne, down by INR 5,000 per tonne or 2.13 per cent from INR 235,250 per tonne on February 7. With the latest cut, Hindalco’s aluminium wire rod price has come in at INR 241,350 per tonne, also down by INR 5,000 per tonne from INR 246,350 per tonne on Tuesday, February 7. After the three continuous cuts for over a week, Hindalco’s aluminium billets price has stopped at INR 244,350 per tonne as of February 10, in contrast with INR 249,350 per tonne on the previous cut. Hindalco links its aluminium ingot and aluminium...
China’s metallurgical-grade alumina output drops 1% in January 2023 due to production halt at refineries
In January 2023 (31 calendar days), China’s metallurgical-grade alumina production stood at 6.37 million tonnes, registering a drop of 0.93 per cent month-on-month from 6.43 million tonnes, found the Shanghai Metals Market data. On a year-on-year calculation, the output in January recorded an increase of 1.4 per cent from 6.28 million tonnes. SMM data also showed China’s average daily production of alumina decreased by 2,300 tonnes M-o-M to stand at 205,000 tonnes. The domestic installed capacity at the end of the month was 97.75 million tonnes, while the operating capacity was 74.94 million tonnes, implying an average domestic operating rate of 77 per cent. SMM has estimated the net imports of alumina to be 115,000 tonnes at the end of January, with a slight shortage of 97,000 tonnes. In...
Vedanta Aluminium expands its wire rod offerings at IAC 2023 with the new 12 mm version
On Thursday, February 9, Vedanta Aluminium grabbed the opportunity at its first International Aluminium Conference (IAC) 2023 to have announced the launch of a 12 mm aluminium wire rod for the electrical industry. Vedanta Aluminium is a world-renowned producer (outside China) of high-quality electrical conductor (EC) grade wire rods, having a production capacity of 600,000 tonnes, equipped with state-of-the-art continuous mills from Southwire (USA) and Properzi (Italy). Vedanta's wire rods are destined for crucial applications in the electrical industry in the form of wire and cables for transmission and distribution networks, coils and windings, heating & cooling tube, and more. Vedanta has manufactured 12 mm aluminium wire rods at its smelters in Jharsuguda (Odhisha) and BALCO...
China’s domestic A00 aluminium ingot price plummets by RMB310/t; Aluminium alloy (A356) price settles below RMB20000/t
According to the Shanghai Metals Market data, China’s domestic A00 aluminium ingot price has plummeted for the second day in a row by RMB 310 per tonne to come close to the RMB 18,500 per tonne level. As per the data shown, the price stands at RMB 18,570 per tonne as of Friday, February 10, with average prices estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne. The spot contract will likely trade at a discount price of RMB 70-30 per tonne. In Gongyi and Foshan, the aluminium ingot price has slumped by RMB 320 per tonne to peg at RMB 18,440 per tonne and RMB 18,570 per tonne, while the price in Wuxi and Hangzhou has plunged by RMB 315 per tonne to stand at RMB 18,560 per tonne and RMB 18,570 per tonne, respectively. In Chongqing and Tianjin, A00 aluminium ingot price...
Hindalco posts a 20% hike in nine months revenue for FY23 on higher primary aluminium shipments
On Thursday, February 9, Hindalco Industries Limited, a subsidiary of the Aditya Birla Group, announced the fourth quarter results ended December 31, FY2022-23, reporting a 6 per cent year-on-year rise in revenue to INR 53,151 crore. But on a quarter-on-quarter basis, the revenue stood 5.38 per cent lower than INR 56.176 crore. The total revenue in nine months of the fiscal year FY2023 stood at INR 167,345, up by 20.14 per cent from INR 139,295 crore in the past year. The overall increase in revenue could be attributed to higher sales volume and steady operational performance across India operations. Record total shipments of India primary aluminium was 349,000 tonnes, up 1 per cent from 345,000 tonnes. Hindalco posted an EBITDA of INR 3,930 crore for Q3 FY23, down by 31.57 per cent Q-o-Q...
Vedanta reduces its aluminium ingot selling price by INR6250/t with effect from February 7
Vedanta Limited has extended its aluminium ingot and products price cut with effect from Tuesday, February 7. The company has reduced its aluminium ingot price by INR 6,250 per tonne or 2.58 per cent to INR 236,250-266,750 per tonne versus INR 242,500-273,000 per tonne on February 3. Vedanta’s aluminium wire rod has also seen a cut of INR 6,250 per tonne, with effect from February 7, to stand at INR 243,750-251,250 per tonne compared to INR 250,000-257,500 per tonne as of February 3 . Aluminium billet price has also experienced a cut by the same amount to come in at INR 245,250 per tonne, in contrast with INR 251,500 per tonne last week. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which continued to...
China’s domestic aluminium production sets a reserve tone at the beginning of 2023 on lower operating rate
According to the Shanghai Metals Market data, China’s domestic aluminium production in January 2023 (31 calendar days) recorded a marginal drop of 0.6 per cent month-on-month to 3.42 million tonnes. In December 2022 (31 calendar days), the domestic output had grown by 3 per cent M-o-M from 3.34 million tonnes to 3.44 million tonnes. On a year-on-year calculation, China’s January aluminium output edged a 6.7 per cent hike from 3.204 million tonnes. China’s daily output of aluminium also registered a decline month-on-month in January 2023 from 110,900 tonnes to 110,300 tonnes. The drop in China’s monthly aluminium production could be attributed to a lower operating rate of about 310,000 tonnes from the end of December and 760,000 tonnes from November after three rounds of power curtailment....
Ball Corporation reports an 18% drop in annual net earnings for 2022 despite higher sales of beverage packaging
On February 2, Ball Corporation announced the full-year 2022 and the fourth quarter results on a U.S. GAAP basis, reporting net earnings for the entire year attributable to the corporation of $719 million or diluted earnings per share of $2.25. That was a downfall of 18.22 per cent from the previous year’s net earnings of $878 million despite a hike in sales by 11.15 per cent from $13.81 billion to $15.35 billion. Ball’s full-year 2022 comparable net earnings were $891 milion or $2.78 per diluted share compared to $1.16 billion or $3.49 per diluted share in 2021. The company’s fourth quarter net earnings were $55 million or 17 cents per diluted share, significantly down from $297 million or 90 cents per diluted share. Sales were slightly down in Q4 to $3.55 billion from $3.67 billion a...
Hindalco’s aluminium products prices see a slash for the second time in less than a week by INR6250/t
Hindalco Industries Limited has significantly reduced its aluminium products and aluminium ingot prices for the second consecutive time, in line with the back-to-back LME aluminium price fall since February 1. With effect from Tuesday, February 7, Hindalco has curtailed its aluminium wire rod price by INR 6,250 per tonne or 2.47 per cent to INR 246,350 per tonne, in contrast with INR 252,600 per tonne on February 3. Hindalco has also axed its aluminium billets price by INR 6,250 per tonne, with effect from February 7, to sell the product at INR 249,350 per tonne versus INR 258,850 per tonne last week . The company’s aluminium ingot price has also been cut by the same amount to INR 235,250 per tonne from INR 241,500 per tonne. Hindalco links its aluminium ingot and aluminium products...
Primary aluminium output in Russia and Eastern Europe records a 2% Y-o-Y fall during 4QCY2022
According to the International Aluminium Institute, primary aluminium production in Russia and Eastern Europe amounted to 343,000 tonnes during December 2022, registering a monthly hike of 10,000 tonnes or 3 per cent from 333,000 tonnes but a yearly decline of 8,000 tonnes or 2.3 per cent from 351,000 tonnes. The year-on-year downfall of primary aluminium output in Russia and Eastern Europe could be attributed to the energy crunch resulting in operation cuts across many smelters. The total production of primary aluminium in Russia and Eastern Europe during the fourth quarter of 2022 ended December 31, stood at 1.02 million tonnes, down by 1.16 per cent Q-o-Q from 1.032 million tonnes despite the increase in monthly output in December. On a year-on-year basis, the output in 4Q2022 also...
Hydro to start producing remelt aluminium scrap ingot in Wrexham, the project to create 30 new jobs
According to a recent report, Hydro has planned to initiate the production of remelt aluminium scrap ingot at Wrexham plant, UK, to increase the recycling of post-consumer scrap. This project will take the company closer to its sustainability drive by enabling it to offer more low-carbon aluminium to its European customers. Ingrid Guddal, Head of Recycling in Hydro Aluminium Metal, said: “We see increasing interest from forward leaning customers across Europe to buy Hydro’s low-carbon aluminium, particularly within the automotive, transport, and buildings and construction segments.” Hydro’s new investment in producing remelt scrap ingot will increase its recycling capacity to around 103,000 tonnes per annum, letting it process and recycle a wider range of post-consumer aluminium scrap....
NALCO sharply cuts its aluminium prices by INR7800/t on Feb. 7 as LME price plummets by 5% through a week
National Aluminium Company Limited (NALCO) has slashed its aluminium ingot and aluminium products prices after four successive hikes in response to the LME aluminium price plunge during February 1-7, 2023. With effect from February 7, NALCO has curtailed its aluminium ingot price by INR 7,800 per tonne or 3.20 per cent to INR 236,150-239,650 per tonne. A week ago, the company’s aluminium ingot price stood at INR 243,950-247,450 per tonne. NALCO’s aluminium wire rod price has also been cut by INR 7,800 per tonne, with effect from February 7. The price now ranges between INR 240,650-245,000 per tonne versus INR 248,450-252,800 per tonne as of February 1 . NALCO’s aluminium billets price is also reduced by the same amount to be sold at INR 240,600-243,250 per tonne, with effect from February...
