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.
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...
China’s primary aluminium inventories swiftly increase to 1.14 million tonnes over this weekend
China’s social inventories of primary aluminium have built-up by 96,000 tonnes over the weekend ended February 6, 2023, across eight major Chinese consumption areas, including SHFE warrants, to stand at 1.14 million tonnes, found the Shanghai Metals Market data. On a week-on-week basis, the inventories have recorded a surge of 158,000 tonnes from 986,000 tonnes. SMM data has also shown an increase of 278,000 tonnes compared to the same period last year. Currently, the social inventory is still in the seasonal accumulation cycle, which historically lasts for an average of 3-4 weeks post the Chinese New Year holiday. To know the present status of primary aluminium inventories across China, refer to the chart below: According to SMM data, Wuxi has witnessed the highest growth in primary...
Europe’s alumina production slumps 21% Y-o-Y to 8.2 Mt in 2022, led by a sluggish output in H2
According to the International Aluminium Institute, alumina production in Europe (incl. Russia) totalled 8.219 million tonnes during 2022, registering a downfall of 20.97 per cent year-on-year from 10.4 million tonnes. In the fourth quarter of 2022, Europe’s aluminium oxide output amounted to 1.722 million tonnes, down by 12.54 per cent from 1.969 million tonnes in the third quarter of the year and 33.72 per cent less than 2.598 million tonnes in Q4 2021. In December 2022, alumina production in Europe stood at 551,000 tonnes, showcasing a decline of 4.51 per cent or 26,000 tonnes from 577,000 tonnes a month ago . On a year-on-year basis, the output recorded a slump of 37.95 per cent from 888,000 tonnes, found IAI. During the second half of 2022, Europe produced 3.691 million tonnes of...
MAAN Aluminium records 257% Y-o-Y hike in net profit for 3QFY23
MAAN Aluminium, an India-based aluminium products manufacturer and seller, announced its third quarter results that ended December 31, FY2023, reporting net sales of INR 189.62 crore versus INR 188.20 crore in the September quarter. The data indicated the company’s Q3 net sales improved marginally by 0.75 per cent from Q2 but recorded a significant growth of 15.31 per cent from INR 164.44 crore in Q3 FY2022. Net profit for Q3 FY23 stood at INR 14.01 crore, up by 6.95 per cent from 13.10 crore in Q2 and 257.4 per cent more than INR 3.92 crore in Q3 FY2022. MAAN Aluminium’s EBITDA stood at INR 20.85 crore in the December quarter, which also reflected a hike of 179.49 per cent year-on-year from INR 7.46 crore. Earnings per share increased to INR 10.37 in the third quarter of the current...
ASI certifies Binzhou Hongzhan Aluminium Technology against Performance Standard for aluminium alloy rolled production
On February 1, Aluminium Stewardship Initiative certified Binzhou Hongzhan Aluminium Technology Co., Ltd., a subsidiary operation of China Hongqiao Group Co., Ltd., against its Performance Standard V2 (2017) for the research & development, and production and sales of aluminium alloy rolled products. Binzhou Hongzhan Aluminium Technology Co., Ltd. mainly produces and sales transportation aluminium alloy materials and high precision aluminium plates and strips. The ASI Performance Standard V2 defines environmental, social and governance principles and criteria address sustainability issues in the aluminium value chain. On receiving the certification, Li Zhenlai, General Manager at Binzhou Hongzhan Aluminium Technology Co., Ltd., said: “Green and sustainability are the foundation of our...
Vedanta’s aluminium ingot price slips by INR3000/t with effect from February 3
Vedanta Limited reduced its aluminium ingot and aluminium products prices by INR 3,000 per tonne on Friday, February 3, following an increase of INR 7,000 per tonne on the previous day. On February 3, Vedanta’s aluminium ingot price came in at INR 242,500-255,500 per tonne, compared to INR 245,500-258,500 per tonne on February 2. Vedanta’s aluminium wire rod price ranged between INR 250,000-257,500 per tonne as of February 3, also down by INR 3,000 per tonne from INR 253,000-260,500 per tonne on the previous day. Aluminium billet price stood at INR 251,500 per tonne versus INR 254,500 per tonne. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased by US$51 per tonne from US$2,611 per tonne on...
Qatar Aluminium Manufacturing Company reports a record net profit of QR919 million for 2022
On Friday, February 3, Qatar Aluminium Manufacturing Company, a Qatari Public Shareholding Company, popularly known as QAMCO, announced its financial result for 2022 ended December 31, reporting a record net profit of QR919 million, up by 10.13 per cent from QR 834.5 million in 2021. The company’s basic and diluted earnings per share also rose to QR0.165 per share to QR0.150 per share. In regards to this financial performance, Mr Abdulrahman Ahmad Al-Shaibi, Chairman of the Board of Directors of QAMCO, commented: “While macroeconomic context remained uneven, we continued our focus on operational excellence, cost optimization, operational flexibility, safety & sustainability, which resulted in an excellent set of financial results. Our firm belief and commitment to HSE has successfully...
Hindalco reduces its aluminium wire rod price by INR3250/t on February 3 after a significant hike
Hindalco Industries Limited has curtailed its aluminium products prices by INR 3,250 per tonne or 1.25 per cent, with effect from February 3. That brought the company’s aluminium wire rod price to INR 252,600 per tonne versus INR 255850 per tonne on February 2, up by INR 7,250 per tonne from 248,600 per tonne on February 1. Hindalco’s aluminium billets price has also been reduced by INR 3,250 per tonne on February 3, after a significant increase on the previous day. On February 2, Hindalco’s aluminium billets price was lifted by INR 7,250 per tonne to INR 258,850 per tonne but slashed the next day to INR 255,600 per tonne. With the latest cut, Hindalco’s aluminium ingot price has come in at INR 241,500 per tonne as of February 3 versus INR 244,750 per tonne on February 2. Hindalco links...
SAMR and Standardization Administration of China issue energy consumption ceilings for aluminium production
According to a recent report, the State Administration for Market Regulation (SAMR), the ministerial-level agency directly under the State Council of China, together with the Standardization Administration of the People’s Republic of China, has issued energy consumption ceilings for aluminium and alumina production per unit of product. This will come into effect from January 1, 2024. Aluminium, being an energy-intensive metal, consumes the lion’s share of power, with thermal being the dominant source. Its production process is accompanied by high energy consumption and high carbon emissions. Following China’s “dual carbon” goal (carbon peak and carbon neutrality), the country’s aluminium production capacity contracted, with constrained capacity utilization rates. SMM data showed China’s...
NALCO’s aluminium ingot price gains INR1100/t as of February 1, 2023
National Aluminium Company Limited (NALCO) has slightly increased its aluminium ingot and aluminium products prices, with effect from February 1, in line with a slow growth rate of the LME aluminium benchmark price between January 26 and February 1. According to the new price chart revealed, NALCO has lifted its aluminium ingot price by INR 1,100 per tonne to bring it to INR 243,950-247,450 per tonne versus INR 242,850-246,350 per tonne on January 26. NALCO’s aluminium billets price has also experienced an increase of INR 1,100 per tonne reaching INR 248,400-251,050 per tonne as of February 1 versus INR 247,300-249,950 per tonne as of January 26. Aluminium wire rod price has come in at INR 248,450-252,800 per tonne, up by 0.44 per cent from INR 247,350-251,700 per tonne last week. NALCO...
Alba reports a 16% revenue growth to BD1,840.9 million in 2022 but a 7% decline in profit due to higher production costs
On Thursday, February 2, Aluminium Bahrain B.S.C. (Alba) reported its fourth quarter and full-year 2022 financial results, announcing a sharp downfall of Q4 profit by 78 per cent year-on-year from BD181.2 million (US$481.8 million) to BD39.4 million (US$104.9 million). For the full year, Alba posted an 8 per cent fall in profit from BD451.9 million (US$1,201.8 million) to BD416.2 million (US$1,106.8 million). The company’s profit experienced a slowdown due to surging production costs caused by energy price rise and higher interest rates. The company also reported a drop in its Basic and Diluted Earnings per Share to Fils 28 for Q4 2022 from Fils 28 for the same period in 2021. Basic and Diluted Earnings per Share during 2022 stood at fils 294 versus fils 319 in 2021. Alba’s comprehensive...
Kuusakoski Group invests 25 M€ to ramp up the recycling capacity of non-ferrous metals, including aluminium
Kuusakoski Group Oy, a recycling pioneer and the only recycled aluminium producer in Finland, has reportedly invested 25 M€ in a new production line at the recycling plant in Heinola. This project will ramp up the company’s recycling capacity for non-ferrous metals, including aluminium. The demand for recycled raw materials is skyrocketing with time as it saves considerable energy of what is required to produce virgin metal. For the first time in this decade, the production of recycled aluminium is anticipated to exceed that of primary aluminium. In 2022, Kuusakoski supplied a substantial amount of recycled aluminium to its customers needed for 2,000 new passenger aircraft. Kuusakoski’s recycling factory in Heinola is the largest integrated recycling plant in the Northern Europe, located...
Africa & Asia’s alumina production slows down 4.6% in 4Q2022; but scales up for full-year to 13.79 Mt
In Africa & Asia (ex-China), alumina production during December 2022 stood at 1.129 million tonnes, bringing the total output in the fourth quarter to 3.349 million tonnes, found the International Aluminium Institute. The monthly production stood restrained M-o-M and 5 per cent lower Y-o-Y than 1.188 million tonnes, while the quarterly output edged a 4.61 per cent decline Q-o-Q than 3.511 million tonnes and a 1.67 per cent dip Y-o-Y than 3.406 million tonnes. According to IAI data, Africa & Asia’s alumina production reflected a slowdown for a significant period in Q4 2022. Although it started with a sequential rise in October by 6.01 per cent to 1.181 million tonnes, it encountered a downfall and then restraint in the two successive months. In the full-year 2022, Africa & Asia (ex-China)...
ASI certifies Yunnan Hongtai New Material against Performance Standard for liquid aluminium and ingot production
On Wednesday, February 1, Aluminium Stewardship Initiative announced it successfully certified Yunnan Hongtai New Material Co., Ltd., a subsidiary operation of China Hongqiao Group Co., Ltd., against the Performance Standard V2 (2017) Certification. Yunnan Hongtai, located in Wenshan City, is involved in research and development, production and sales of liquid aluminium and aluminium ingots products. Its smelting operations, with a design capacity of 2.03 million tonnes per year of liquid aluminium and aluminium ingot, are based on hydropower. ASI Performance Standard sets out 59 criteria under the three sustainability pillars of Environment, Social, and Governance, which address critical issues like biodiversity, labour rights, Indigenous Peoples rights, and greenhouse gas emissions. On...
Rusal starts producing aluminium-scandium master alloys at its Krasnoyarsk Aluminium Smelter
According to a report on Wednesday, February 1, Rusal has started producing aluminium-scandium master alloys, the most technologically complex among melted master alloys, at its Krasnoyarsk Aluminium Smelter. Master alloy is a base metal consisting of a relatively high percentage of one or two other elements and is used to make alloys. The project, with a production capacity of over 5,000 tonnes of melted master alloys per year, needed an investment of US$7.5 million. Employees of the Rusal Engineering and Technology Centre worked hard on the project for several years. The main consumer of the product will be Rusal itself, while some will be supplied to external customers, which are major metal producers in Russia. Rusal is the largest consumer of master alloys in Russia. Earlier, the...
Vedanta cuts its aluminium ingot price by INR3500/t on Feb 1 in line with three consecutive LME price declines
Vedanta Limited has curtailed its aluminium ingot and aluminium products prices by INR 3,500 per tonne, with effect from February 1, 2023. That brought the company’s aluminium ingot price to INR 238,500-269,000 per tonne versus INR 242,000- 272,500 per tonne on January 31. Vedanta’s aluminium wire rod price has come in at INR 246,000-253,500 per tonne as of February 1, down by INR 3,500 per tonne or 1.4 per cent from INR 249,500-257,000 per tonne on January 31. Aluminium billet price stands at INR 247,500 per tonne, with effect from February 1, in contrast to INR 251,000 per tonne a day ago. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which declined for the past three consecutive days by US$64.50 per...
Iranian alumina production grows 1% in nine months, led by an output rise in Q3 to 57,394 tonnes
A report has recently revealed that Iran produced 176,239 tonnes of alumina powder in the nine months of the Iranian calendar year (March 21-December 21, 2022). The report suggests a 1 per cent rise year-on-year from 175,284 tonnes. In the third quarter (September 21-December 21), Iran’s alumina output amounted to 57,394 tonnes, up by 1.50 per cent over a quarter following a downfall in the previous quarter by 9.20 per cent from 62,291 tonnes to 56,554 tonnes. In the first half of the Iranian calendar year, the alumina powder output in Iran totalled 118,845 tonnes, in contrast to 116,192 tonnes during the same period of the previous year. Alumina powder, also known as aluminium oxide due to its chemical compound of aluminium and oxygen, is an inert, odourless, white amorphous material...
US domestic primary aluminium output records a 3% drop M-o-M in Nov’22, but daily production grows 1%
According to the US Census Bureau data, the United States domestic primary aluminium production in November 2022 stood at 62,000 tonnes, registering a decrease of 2,000 tonnes or 3.15 per cent month-on-month from 64,000 tonnes. The USGS data also shows the US primary aluminium output in November 2022 edged a sharp fall of 13,000 tonnes or 17.33 per cent from 75,000 tonnes. However, despite the drop in monthly production, the United States average daily output of primary aluminium in November 2022 stood 1 per cent higher M-o-M from 2,050 tonnes to 2,070 tonnes. On a year-on-year calculation, the daily production in November’22 was 18.33 per cent less than 2,510 tonnes. Total aluminium recovered from scrap in November 2022 was 277,000 tonnes, down by 2.12 per cent from 283,000 tonnes in...
