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’s aluminium ingot price escalates by 4% with effect from January 18
National Aluminium Company Limited (NALCO) has continued to significantly increase its aluminium ingot and aluminium products prices in line with the LME aluminium price hike. With effect from Wednesday, January 18, NALCO has escalated its aluminium ingot price by INR 10,000 per tonne to range between INR 239,350-242,850 per tonne. NALCO’s aluminium wire rod price has also witnessed an increase of INR 10,000 per tonne or 4.2 per cent to hover around INR 243,850-248,200 per tonne as of January 18. Aluminium billets price has been raised by 4.2 per cent as well with effect from January 18 to peg at INR 243,800-246,450 per tonne versus INR 233,800-236,450 per tonne on January 12. NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
LME aluminium benchmark price records a drop of 1.6% after two hikes in a row; SHFE gains US$10/t
The three-month LME aluminium opened at US$2,618.50 per tonne on Tuesday and closed at US$2,624.50 per tonne, an increase of US$6 per tonne or 0.23 per cent. On Tuesday, January 17, the LME aluminium cash bid price and the LME aluminium official settlement price recorded a downfall of US$40.50 per tonne or 1.56 per cent after two consecutive hikes. Thus, the prices stood at US$2,562 per tonne and US$2,562.50 per tonne versus US$2,602.50 per tonne and US$2,603 per tonne on the previous day. The 3-month bid price contracted by US$37.50 per tonne to settle at US$2,586 per tonne, while the 3-month offer price shrank by US$37 per tonne to close at US$2,587 per tonne. December 24 bid price and December 24 offer price showed no exception but registered a decline of US$44 per tonne to come in at...
Attention! AlCircle is bringing a new e-Magazine on "Green Initiatives: Road to a sustainable aluminium industry"
Carbon emission is a sincere concern that is largely being addressed worldwide by companies and individuals. The aluminium industry is no exception in contributing its share of efforts to combat the issue. Producers, suppliers, and patrons across the value chain have been experimenting heavily to lower their ecological carbon footprint for years. To explore the innovations being brought by the eminent companies and aluminium leaders to achieve a sustainable industry, AlCircle is coming up with the fourteenth edition of its e-Magazine titled “Green Initiatives: Road to a sustainable aluminium industry.” This e-Magazine aims to include companies and associates from the entire aluminium value chain to let them share their journey to achieving sustainability. From producers to suppliers, all...
India’s aluminium scrap imports from US decline for the second straight month by 2% in Oct’22
India’s aluminium scrap imports from the United States continued to decline in October 2022 by 2.39 per cent or 1,000 tonnes month-on-month to peg at 40,800 tonnes, found the US Census Bureau data. In September 2022, India’s aluminium scrap import volume decreased by 9.33 per cent or 4,300 tonnes M-o-M from 46,100 tonnes to 41,800 tonnes. That indicated India’s imports from the United States declined for the second month but at a slower rate. On a year-on-year calculation, India’s aluminium scrap imports from the United States edged a sharp decline of 15,600 tonnes or 27.66 per cent from 56,400 tonnes. From January to October 2022, India imported 397,000 tonnes of aluminium scrap in total from the United States, up by 13.11 per cent from 351,000 tonnes year-on-year despite the...
Rio Tinto’s 2022 aluminium output declines 4%, production cut at Kitimat smelter proves to be guilty
Rio Tinto Group, the world’s second-largest metals and mining corporation, has published the operational results for the fourth quarter and full year of 2022 ended December 31. In the report, the company noted its aluminium production in Q4 amounted to 783,000 tonnes, witnessing an increase of 3 per cent month-on-month and year-on-year. That brought Rio’s total aluminium output in 2022 to 3.009 million tonnes, down by 4.48 per cent from 3.15 million tonnes last year. The downfall in the annual aluminium production in 2022 was due to reduced output at Kitimat smelter in British Columbia, Canada and Boyne smelter in Queensland, Australia. However, the recovery at both the smelters is progressing and is expected to come into operation at full capacity in 2023. Bauxite production in Q4 stood...
Alba’s Forced Cooling Network comes into operation at Potlines 4 & 5; expects to lift smelting capacity by 17000 TPA
On Monday, January 16, Aluminium Bahrain B.S.C. (Alba) held a programme to commission the Forced Cooling Network (FCN) Project at Potlines 4 and 5. The occasion was attended by Alba's Chairman Shaikh Daij bin Salman bin Daij Al Khalifa and Chief Executive Officer Ali Al Baqali, along with Directors and Managers and concerned teams of the respective area. The FCN project, managed by the in-house Engineering and Operations team, has lifted Alba's amperage to 410 kA at Potlines 4 and 5, enabling the first aluminium smelter in the Middle East to increase production capacity by approximately 17,000 tonnes per annum. Commenting on this occasion, Alba’s Chairman Shaikh Daij bin Salman bin Daij Al Khalifa said: “By chasing operational efficiency, we will attain excellence as we journey to the...
Vedanta’s aluminium products prices witness a 2% hike with effect from January 14
Vedanta Limited lifted its aluminium products and aluminium ingot prices by INR 4,500 per tonne on Saturday, January 14. That brought the company’s aluminium wire rod price to INR 243,000-250,500 per tonne versus INR 238,500-246,000 per tonne on January 12. With the latest hike, Vedanta’s aluminium billet price mounted to INR 244,500 per tonne, compared with INR 240,000 per tonne two days earlier. Vedanta’s aluminium ingot price ranged between INR 235,500- 266,000 per tonne, 2 per cent more than INR 231,000- 261,500 per tonne. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew by US$64 per tonne or 2.62 per cent from US$2,447 per tonne to US$2,511 per tonne on January 12. Vedanta's aluminium...
Goldman Sachs projects bullish global aluminium price trend in 2023 buoyed by higher demand
The Goldman Sachs Group, a leading global investment bank and financial services company, shared aluminium price forecasts whereby it projected a growth led by soaring demand in Europe and China. But the setback it might create is supply shortages. As per the prediction noted by analysts like Nicholas Snowdon and Aditi Rai, aluminium is likely to average US$3,125 per tonne this year on the London Metal Exchange. This will reflect an increase of US$530 per tonne or 20.42 per cent from the past year’s average price of US$2,595 per tonne and US$562 per tonne or 21.93 per cent higher than the bank’s previous forecast of US$2,563 per tonne. Goldman also shared the metal price would most likely mount to US$3,750 per tonne in the next 12 months. “With visible global inventories standing at just...
Hindalco continues to increase its aluminium prices in line with LME price rally; ingot price sums at INR234,500/t
Hindalco Industries Limited back-to-back hiked its aluminium ingot and aluminium products prices on January 14. Previously, on January 12, Hindalco lifted its aluminium ingot price by INR 3,250 per tonne from INR 226,750 per tonne to INR 230,000 per tonne. On Saturday, January 14, the price was further raised by INR 4,500 per tonne to INR 234,500 per tonne. Hindalco’s aluminium wire rod price also saw an increase of INR 4,500 per tonne on January 14 to INR 245,600 per tonne, following a lift of INR 3,250 per tonne from INR 237,850 per tonne INR 241,100 per tonne. Aluminium billets price also witnessed a hike of INR 4,500 per tonne on January 14 to stand at INR 248,600 per tonne after a rise of INR 3,250 per tonne on January 12 from INR 240,850 per tonne to INR 244,100 per tonne. Hindalco...
Aluminium extruders operating rates dip 1.4 percentage points M-o-M in Dec’22 due to demand drop from real estate
In December 2022, the average operating rate of aluminium extruders recorded a month-on-month drop of 1.4 percentage points and a year-on-year decline of 14 percentage points to stand at 36.5 per cent, found the Shanghai Metals Market data. The average operating rate of large enterprises was 37.8 per cent, mid-sized companies 35.8 per cent, and small firms 20.5 per cent. The construction aluminium extrusion sector’s operating rate dipped 1.7 percentage points from the previous month to peg at 32.6 per cent, which on a yearly basis decreased by 18.6 percentage points. The industrial aluminium extrusion sector fell 1.3 percentage points month-on-month but rose 2.2 percentage points year-on-year to come in at 52.3 per cent. The average operating rate of aluminium extruders declined in...
A look back on key investments and developments in the primary aluminium sector, 2022
In the midst of a potential demand-supply scenario across the primary aluminium sector, given the rising investments towards reducing the carbon footprint at production, there were some key developments in global primary aluminium projects in 2022. While some projects were for developing clean energy to power aluminium smelters, some were for expanding integrated greenfield aluminium capacity to meet the anticipated 96.6 million tonnes of world aluminium demand. Given below are the key primary aluminium projects in 2022 – In early May 2022, Sunshine Hydro and Energy Estate proposed the construction of the world’s first super-hybrid green hydrogen project in Central Queensland, valued at $5.5 billion with massive wind and pumped hydro facilities. The project is expected to feature 1.8GW of...
China's aluminium billet inventories build up 15,100 tonnes W-o-W to exceed 90,000 tonnes: SMM
Social inventories of aluminium billets in China have further built up 15,100 tonnes week-on-week to peg at 95,000 tonnes on January 12 across the five major consumption areas. Except for Changzhou, all the major markets have witnessed a growth in billet inventories this week, driven by high shipments from southwest China and rapidly cooling demand after downstream users took an early break for the Chinese New Year holiday. The chart below indicates the current status of aluminium billet inventories across China in more details: This week, Foshan has contributed the highest to the billet inventories growth, accumulating 10,900 tonnes over the week to 45,400 tonnes, found the Shanghai Metals Market. Inventories in Wuxi and Huzhou have experienced a gain of 3,000 tonnes and 2,000 tonnes,...
NALCO’s aluminium ingot price skyrockets by INR13500/t on January 12
National Aluminium Company Limited (NALCO) has escalated its aluminium ingot and aluminium products prices sharply on Thursday, January 12, in response to the LME aluminium benchmark price rally for over the past three days. The company has lifted its aluminium ingot price by INR 13,500 per tonne or 6.25 per cent from INR 215,850-219,350 per tonne on January 6 to INR 229,350-232,850 per tonne on January 12. NALCO’s aluminium wire rod price has come in at INR 233,850-238,200 per tonne, significantly up by INR 13,500 per tonne from INR 220,350-224,700 per tonne last Friday. Aluminium billets price is no exception but also seen a surge by the same amount to range between INR 233,800-236,450 per tonne versus INR 220,300-222,950 per tonne in the previous week. NALCO links its aluminium ingot...
China’s bauxite import grows 31% M-o-M in Nov'22 as Guinea increases its supply on Indonesia's foreseeable export ban
According to China customs data, the country imported 11.79 million tonnes of bauxite in November 2022, which recorded a month-on-month hike of 31.29 per cent from 8.98 million tonnes and a year-on-year surge of 53 per cent. From January to November 2022, China’s total bauxite imports amounted to 115.4 million tonnes, an increase of 16.9 per cent year-on-year. Being the primary supplier, Guinea exported 7.28 million tonnes – 65 per cent more than the previous month and 125 per cent higher than a year earlier. The main reasons for the surge in exports were the hearsay that Indonesia would ban bauxite exports, which made Chinese alumina refineries favour Guinean ore as an alternative, increased enthusiasm among Chinese refineries to stock up bauxite at the end of 2022, ramp up of production...
LME aluminium price rallies by US$54/t to close at US$2451/t; SHFE price edges a US$21/t hike
Three-month LME aluminium opened at US$2,458 per tonne on Wednesday and closed at US$$2,489 per tonne, an increase of US$26 per tonne or 1.06 per cent. On Wednesday, January 11, both the LME aluminium cash bid price and the LME aluminium official settlement price recorded a surge for the third day in a row. While the former rallied by US$55.50 per tonne to peg at US$2,450.50 per tonne, the latter hiked by US$54 per tonne to settle at US$2,451 per tonne. The 3-month bid price and 3-month offer price climbed up by US$56 per tonne and US$55 per tonne, respectively, to hover around US$2,486 per tonne and US$2,487 per tonne. December-24 bid price and December-24 offer price closed at US$2,665 per tonne and US$2,670 per tonne, up by US$53 per tonne from the previous day. LME aluminium opening...
Hindalco’s aluminium ingot price further accumulates INR5000/t on January 11
Hindalco Industries Limited has hiked its aluminium ingot and aluminium products prices for the second day in a row on January 11, 2023. With the recent price rise, the company’s aluminium ingot price has come in at INR 226,750 per tonne per tonne, up by INR 5,000 per tonne or 2.25 per cent from INR 221,750 per tonne on January 10. Hindalco’s aluminium wire rod price has also seen a lift of INR 5,000 per tonne on January 11 to stand at INR 237,850 per tonne versus INR 232,850 per tonne on January 10. Hindalco’s aluminium billets price has also been raised by INR 5,000 per tonne to INR 240,850 per tonne on January 11, following a hike of INR 7,750 per tonne from INR 228,100 per tonne on January 7 to INR 235,850 per tonne on January 10. Hindalco has back-to-back increased its aluminium...
IOC Phinergy Ltd to build the first-ever full ecosystem in Aluminum—Air battery in India
Indo-Israeli JV IOC Phinergy Limited (IOP) is establishing the first-ever full ecosystem for Aluminum-Air battery in India, including R&D, manufacturing and associated services. This project will lead India’s dream to inspire more people to adopt electric vehicles (EVs) to reduce dependence on imported fossil fuels and improve air quality. The Indian government has been implementing several policies and incentives to encourage EV adoption whilst facing challenges like scarce charging infrastructure, high upfront costs and limited range. Nonetheless, the government is letting no stone unturned to stimulate the adoption of electric vehicles. On January 13-18, 2023, IOC Phinergy Ltd will display India’s first-ever vehicles powered by an Aluminium-Air system at the upcoming Auto Expo – The...
China’s monthly aluminium production records 3% growth M-o-M in Dec’2022, but daily output drops 300 tonnes
According to the Shanghai Metals Market data, China’s aluminium production in December 2022 (31 calendar days) was recorded at 3.44 million tonnes – 2.99 per cent more than 3.34 million tonnes in the previous month and 8.18 per cent higher than 3.14 million tonnes a year earlier. The cumulative production during January-December 2022 amounted to 40.08 million tonnes, up by 4.13 per cent from 38.49 million tonnes during the corresponding period of the previous year. Despite the increase in monthly production, the average daily output in December 2022 dropped 300 tonnes M-o-M from 111,200 tonnes to 110,900 tonnes. On a year-on-year basis, daily production hiked by 8.3 per cent from 102,400 tonnes. The domestic operating capacity of aluminium in December declined slightly month-on-month as...
