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.
LME aluminium benchmark price grows marginally by US$1.5/t; SHFE is closed for CNY holiday
The LME aluminium benchmark price started the week on Monday with a marginal rise and continued to do so the next day. On Tuesday, January 24, both the LME aluminium cash bid price and the LME aluminium official settlement price climbed only US$1.50 per tonne to settle at US$2,594 per tonne and US$2,594.50 per tonne, respectively. The 3-month bid price recorded a growth of US$7 per tonne or 0.27per cent to stand at US$2,626 per tonne, while the 3-month offer price edged an increase of US$7.5 per tonne or 0.29 per cent to peg at US$2,627 per tonne. December 24 bid price and December 24 offer price moved up by US$3 per tonne to close at US$2,763 per tonne and US$2,768 per tonne, respectively, as of Jauary 24. LME aluminium opening stock built up 5,600 tonnes on Tuesday to amount to 381,550...
Burls Art makes his latest guitar with 1000 recycled aluminium beverage cans
YouTuber Burls Art, known for making electric guitars by recycling products like newspaper, coloured pencils and lego, has resorted to aluminium this time. He has recycled aluminium cans, 1,000 to be precise, to make his latest guitar. And he has aced it once again. As per the report, Burls Art has recycled used 38lbs beverage cans over a year. And after an extensive research, he built the furnace to recycle cans. He used to make sure the cans were completely dry before the melting process. Only half of his cans became pure molten aluminium that could be turned into bars and then used for building the guitar, while the remaining half became slag that floated on the top. Burls Art created the mould of the guitar, and a lot of sanding was required after that. However, the finished guitar is...
US aluminium plates, sheets and bars exports to Mexico improve 5% in the first ten months of 2022
According to the US Census Bureau data, the United States exported 24,000 tonnes of aluminium plates, sheets and bars to Mexico in October 2022, which reflected a month-on-month surge of 9,000 tonnes or 37.50 per cent. In September, the US exported 15,000 tonnes of aluminium flat-rolled products to Mexico, down by 7.98 per cent from 16,300 tonnes in August. On a year-on-year calculation, the United States FRPs export volume to Mexico in October 2022 increased by 18.23 per cent from 20,300 tonnes. During January-October 2022, the United States total exports of aluminium plates, sheets and bars to Mexico amounted to 236,000 tonnes – 5.36 per cent less than 224,000 tonnes a year ago. In October 2022, the United States total exports of aluminium plates, sheets and bars stood at 61,300 tonnes,...
NZAS commissions independent monitoring for contamination on the Tiwai site
According to a recent report, New Zealand’s Aluminium Smelter at Tiwai Point is independently monitoring Seawater in Bluff Harbour, Awura Bay and Foveaux Strait for signs of contamination. The initiative started last week, conducted by EHS Support on behalf of Environment Southland. The chief executive of Environment Southland said the independent monitoring commenced aiming at determining contamination issues if any in the adjacent coastal environment and the 50-year old landfill on the Tiwai site. In August last year, a review of the report by NZAS indicated a significant amount of contamination was discharged into the environment from the smelter. New Zealand’s Aluminium Smelter has reserved $687 million in its accounts for the closure and rehabilitation of the Tiwai Point site....
Pre-launch Alert: AlCircle’s fifth edition of flagship e-Magazine “Aluminium LeaderSpeak 2023” is on the way!
As the New Year 2023 sets in, the AlCircle team is again on the toe to release a fresh edition of its flagship e-Magazine. Yes, you guessed it right. We are prepping to launch the " Aluminium LeaderSpeak 2023 ". It is the fifth edition of the magazine this year, and so we aim to bring to you more opinions and insights from our leadership into the aluminium value chain. Like you all, we too are eager to know the anticipation of the industry leaders about the future of the aluminium market and what initiatives they are taking to resolve the issues, some passed down from the previous year and many more alike looming large in the present year. The aluminium industry in 2022 bore a plethora of challenges, like a demand drop and supply disruption caused by the geo-political conflict between...
Hindalco’s aluminium billets price closed the week ended January 21 at INR254600/t
Hindalco Industries Limited elevated its aluminium products prices on Saturday, January 21, following a significant slash on the previous day. Both the actions were in line with the LME aluminium price movement. On January 21, Hindalco’s aluminium billets price was lifted by INR 3,500 per tonne to INR 254,600 per tonne, after being slashed by INR 9,250 per tonne on January 20 from INR 260,350 per tonne to INR 251,100 per tonne. Hindalco’s aluminium wire rod price also saw an increase of INR 3,500 per tonne on Saturday, reaching INR 251,600 per tonne. On Friday, January 20, the price fell by INR 9,250 per tonne from INR 257,350 per tonne to INR 248,100 per tonne. Aluminium ingot price was no exception but also experienced a raise of INR 3,500 per tonne on Saturday, January 21, to stand at...
Mahanadi Coalfields Ltd plans to set up a greenfield aluminium project, already looking for a bauxite mine
Mahanadi Coalfields Limited (MCL), one of the eight subsidiaries of Coal India Limited and India’s major coal-producing companies, is mulling to make a debut in aluminium business and soon setting up a greenfield project. Sources say the mini ratna company is looking to secure a bauxite mine for the purpose. In late 2021, Coal India’s board approved a pre-feasibility study for establishing an integrated aluminium project in Odisha. Earlier, the Coal Ministry suggested CIL venture into the aluminium and solar sectors and special purpose vehicles. Abiding by that, MCL is also reportedly aiming to build an INR 12,000 crore worth of power plant in Odisha to mark a start in power generation. Coal India, in a regulatory filing in 2021, had already said its greenfield aluminium project would...
2022: World aluminium production grows 2% amid energy crunch, China's output climbs 4% beating COVID restrictions
According to the International Aluminium Institute, world primary aluminium production in December 2022 amounted to 5.859 million tonnes, bringing the total output of 2022 to 68.417 million tonnes. The worldwide annual production in 2022 edged 1.97 per cent higher than 67.092 million tonnes a year ago, despite production cut at many smelters across the globe due to the energy crisis. The output in December built up by 3.55 per cent month-on-month from 5.658 million tonnes and increased by 6.12 per cent year-on-year from 5.521 million tonnes, found IAI. The world total primary aluminium production during the fourth quarter of 2022 reflected a year-on-year climb of 4.54 per cent from 16.60 million tonnes to 17.353 million tonnes. But on a quarter-on-year calculation, the output dropped by...
Alcoa’s full-year 2022 revenue grows 2.5% Y-o-Y to $12,451 million amid volatile prices and energy supply challenge
On Wednesday, January 18, Alcoa Corporation announced its fourth quarter and full-year 2022 results, reporting a strong balance sheet. The organization worked hard to combat challenging market conditions throughout the year, like volatile alumina and aluminium prices and energy supply shortage. In 2022, Alcoa generated revenue of $12,451 million, up by 2.46 per cent from $12,152 million in 2021, driven by higher alumina and aluminium prices and higher premiums for value-added products. However, the revenue in Q4 stood 6.59 per cent lower at $2,663 million than $2,851 million during the same period last year. Alcoa’s adjusted net income was just a reverse case. In the entire year, it decreased by 31.38 per cent Y-o-Y from $1,297 million or $6.83 per share to $890 million or 4.83 per share;...
China’s aluminium billet inventories continue to grow surpassing 100,000 tonnes this week
China’s aluminium billet inventories recorded a hike on Thursday, January 19, marking the fourth consecutive week of rise. According to the Shanghai Metals Market data, the inventories accumulated 37,200 tonnes from the previous week to reach 131,900 tonnes across five major consumption areas. Foshan saw the highest growth over a week, driven by high shipments from southwest China. Inventory in east China also maintained seasonal accumulation. Slow consumption among extruders due to the shutdown of small and medium-sized plants for the CNY holiday also contributed to the billet inventory hike, stated SMM. Going ahead, aluminium billet inventories in east and south China are estimated to climb further. To know the current status of aluminium billet inventories in more details, refer to the...
Vedanta’s aluminium wire rod & billet prices experience a slash of over 3% on Jan 20
Vedanta Limited has slashed the prices of aluminium products from January 20 following a surge on the previous day. The company has cut its aluminium wire rod price by INR 9,250 per tonne or 3.5 per cent to INR 245,500-253,000 per tonne as of January 20. On January 19, the price stood at INR 254,750-262,250 per tonne, seeing an escalation by INR 11,750 per tonne from 243,000-250,500 per tonne on January 18. Vedanta’s aluminium billet price has also been reduced by INR 9,250 per tonne to INR 247,000 per tonne on January 20 after a hike of INR 11,750 per tonne on the previous day to INR 256,250 per tonne from INR 244,500 per tonne. Aluminium ingot price is not spared but cut by INR 9,250 per tonne too on January 20. Hence, the current price has come in at INR 238,000-268,500 per tonne...
A00 aluminium ingot price nears RMB19000/t at the week-end; aluminium alloy (A356) price marks fourth consecutive hike
A00 aluminium ingot price in China has grown for the fourth consecutive day by RMB 140 per tonne to near RMB 19,000 per tonne. According to the Shanghai Metals Market, the price has stopped at RMB 18,980 per tonne on Friday, January 20, with average prices estimated to range between RMB 18,960 per tonne and RMB 19,000 per tonne. The spot contract is likely to be traded at a discount price of RMB 120-80 per tonne. All the major Chinese provinces have unanimously witnessed the ingot price growth of RMB 140 per tonne. In most provinces, the prices are hovering below RMB 19,000 per tonne, except for Foshan and Chongqing, where A00 aluminium ingot price has come in at RMB 19,030 per tonne and RMB 19,010 per tonne, respectively. The domestic low-carbon aluminium price and high purity aluminium...
Ficci demands 12.5% duty on aluminium imports in FY2023-24 Union Budget
The Federation of Indian Chambers of Commerce & Industry (Ficci), a non-governmental trade association and advocacy group, has reportedly figured out the necessity of higher import duty on aluminium and aluminium products. According to a report, the association has sought at least 12.5 per cent of import duty on the metal and its products in the upcoming budget for FY2023-24. The reason it has stated for the hike is a gradual surge in subpar aluminium imports into India from the United States, the United Kingdom, Malaysia, and the Middle East. According to Ficci, the move will help contain foreign aluminium product dumping and encourage domestic manufacturing and recycling. The present import duty on aluminium and aluminium products is 10 per cent, and more than 60 per cent of India’s...
China’s aluminium imports record 26% slump in 2022 on sluggish consumption amid COVID-19
According to the recent data published by the General Administration of Customs released on Wednesday, January 18, China imported 2.39 million tonnes of unwrought aluminium and products, including primary metal and unwrought and alloyed aluminium. That reflected a year-on-year downfall of 25.6 per cent as domestic aluminium production increased to a record high and COVID-19 restrictions weighed on consumption. In 2021, China’s aluminium imports stood at 3.2 million tonnes, a record volume amid domestic supply disruptions due to transportation hazards for COVID restrictions. The downfall in 2022 was contributed by weaker demands, particularly from the construction, transportation and packaging sectors. Increased primary aluminium output to a record at 40.21 million tonnes due to relaxed...
Hindalco’s aluminium ingot price sees a surge of 2.6% on January 19
Hindalco Industries Limited has escalated by INR 6,250 per tonne or 2.6 per cent, with effect from Thursday, January 19. This has brought the company’s aluminium ingot price to INR 246,250 per tonne versus INR 240,000 per tonne on January 18. Hindalco’s aluminium ingot price on January 18 witnessed a decline of INR 2,500 per tonne or 1.03 per cent from INR 242,500 per tonne on the previous day. Hindalco’s aluminium wire rod price has come in at INR 257,350 per tonne on January 19, compared to INR 251,100 per tonne on January 18. The price sees a hike today after shrinking by INR 2,500 per tonne from INR 253,600 per tonne on January 17. With the latest hike, aluminium billets price sums at INR 260,350 per tonne, following a downfall on the previous day from INR 256,600 per tonne to INR...
A00 aluminium ingot price further up by RMB200/t enabling smelters to yield profit; Aluminium alloy price returns to RMB20000/t
A00 aluminium ingot price in China has recorded a hike for the third day in a row by RMB 200 per tonne to settle at RMB 18,840 per tonne, learned the Shanghai Metals Market data. The average prices are expected to range between RMB 18,820 per tonne and RMB 18,860 per tonne, with a spot contract to be traded at a discount price of RMB 120-80 per tonne. Compared to a week ago, China’s A00 aluminium ingot price has edged RMB 610 per tonne higher than RMB 18,230 per tonne as of January 12. The aluminium ingot price rally since early January has enabled many smelters to return to the profit-making territory. This week smelters reported an average profit of RMB 738.7 per tonne. Many provinces have witnessed the aluminium ingot price increase by RMB 200 per tonne on January 19, such as Foshan,...
LME aluminium benchmark price closes 3% higher at US$2636/t; SHFE uptrends to US$2796/t
The three-month LME aluminium opened at US$2,618.50 per tonne on Wednesday, January 18, and closed at US$2,611.50 per tonne, a decrease of US$7 per tonne or 0.27 per cent. On the same day, the LME aluminium cash bid price and the LME aluminium official settlement price surged by US$73 per tonne and US$73.50 per tonne, following a slump on the previous day to stand at U$2,635 per tonne and US$2,636 per tonne. The 3-month bid price skyrocketed by US$74 per tonne to settle at US$2,660 per tonne, and the 3-month offer price ascended by US$75 per tonne to rest at US$2,662 per tonne. December 24 bid price and December 24 offer price stopped at US$2,780 per tonne and US$2,785 per tonne, recording an increase of US$57 per tonne from US$2,723 per tonne and US$2,728 per tonne. LME aluminium opening...
Alcore obtains a $3.3 million grant for developing aluminium bath recycling plant in Tasmania
Alcore, an 83 per cent owned subsidiary of ABx Group, has reportedly received an initial $3.3 million of a nearly $7.6 million grant for developing an aluminium bath recycling plant at Bell Bay in Tasmania. The funding, which will be used for the plant's construction, has come from the Federal Government’s Modern Manufacturing Initiative. The MMI programme gives funding support to large-scale manufacturing projects that offer sector-wide benefits in the national interest. Alcore is establishing an aluminium bath recycling plant on NSW’s Central Coast owing to the proximity to a pilot aluminium smelter and the ready supply of waste products. The waste product generated during aluminium smelting as a result of high sodium content in alumina is known as “excess bath”. Alcore’s upcoming...
