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.
Alba for the 11th year wins awards for Investor Relations at MEIRA Annual Conference and Awards 2022
Aluminium Bahrain B.S.C. (Alba) has bagged the awards titled ‘Leading Corporate for Investor Relations (IR) in Bahrain' and ‘Best Investor Relations Professional – Bahrain’ at the 2022 Middle East Investor Relations Association (MEIRA) Hybrid Annual Conference and Awards on October 24, 2022, in Riyadh, Kingdom of Saudi Arabia. The MEIRA Annual Conference and Awards is the largest Investor Relations event in the Middle East and North Africa (MENA), which acknowledges the efforts of regionally listed companies towards shaping Investor Relations. The event also serves as a common platform for international corporates, investors, research analysts, advisors, and regulatory bodies to share knowledge and discuss market challenges. On receiving the award, Alba’s Chief Executive Officer Ali Al...
Coming Soon! AlCircle presents “Global Aluminium Expo 2023”
After three successful years, the AlCircle Team is once again gearing up to organise the fourth edition of its much-awaited virtual expo – Global Aluminium Expo 2023 . Although the world has started assembling in person on various occasions like the pre-covid era, virtual events have not lost popularity, given the benefits and convenience. Virtual events are cost-effective, time-saving, able to engage global audiences, and more inviting with enticing technologies. Due to immense admiration and response to previous editions, AlCircle has extended the expo 2023 for a day more. This year, it is a 3-day event from April 18 to 20, 11 AM to 7 PM (GMT). In the background of the rapid transformation of the global aluminium market with a unanimous goal of net zero carbon, it is imperative to offer...
LME aluminium price grows US$2/t to stand at US$2381/t; SHFE price glides down by US$40/t
LME aluminium opened at US$2,380 per tonne last Friday and closed at US$2,365 per tonne, down US$3 per tonne or 0.13 per cent. On Friday, November 25, both LME aluminium cash bid price and LME aluminium official settlement price inched up by US$2 per tonne to stand at US$2,345.50 per tonne and US$2,346 per tonne. 3-month bid price and 3-month offer price grew by US$7 per tonne and US$6 per tonne to rest at US$2,380 per tonne and US$2,381 per tonne, respectively. December 23 bid price and December 23 offer price gained US$7 per tonne, amounting to US$2,450 per tonne and US$2,455 per tonne, as of November 25. LME aluminium opening stock further slumped by 3,175 tonnes to total 506,275 tonnes. Live Warrants recorded restraint at 282,400 tonnes, while Cancelled Warrants shrank by 3,175 tonnes...
Vedanta further cuts its aluminium products prices by INR1750/t with effect from November 25
Vedanta Limited further curtailed its aluminium products and aluminium ingot prices for the second day in a row, with effect from Friday, November 25. Vedanta cut its aluminium wire rod price by INR 1,750 per tonne to sell the product at INR 229,250-236,750 per tonne versus INR 231,000-238,500 per tonne on November 24. The cut on November 25 brought the company’s aluminium billet price to INR 230,750 per tonne compared to INR 231,000-238,500 per tonne on November 24. Vedanta’s aluminium ingot price also saw a trim of INR 1,750 per tonne on November 25 to stand at INR 221,750-252,750 per tonne from INR 223,500-254,500 per tonne the previous day. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metals Exchange, which...
LME aluminium benchmark price remained range-bound this week between US$2344-2346/t; SHFE reflected the same
LME aluminium cash bid price and LME aluminium official settlement price started the week on Monday, November 21, with a decline of US$26 per tonne and US$25 per tonne, respectively, to stand at US$2,342 per tonne and US$2,344 per tonne. But the next day, the prices jumped by US$51.50 per tonne and US$50 per tonne to settle at US$2,393.50 per tonne and US$2,394 per tonne. On Wednesday, November 23, both LME aluminium cash bid price and LME aluminium official settlement price declined again by US$30.50 per tonne and US$30 per tonne to hover around US$2,363 per tonne and US$2,364 per tonne. On November 24, the prices continued to fall by 1 per cent each to rest at US$2343.50 per tonne and US$2,344 per tonne but inched up the next day to close the week at US$2,345.50 per tonne and US$2,346...
US monthly primary aluminium production records restraint in Sept’21, while Q3 output stands 5% down sequentially
According to the US Geological Survey, the United States' monthly production of primary aluminium in September 2022 stood restrained month-on-month at 61,000 tonnes. In contrast, daily average output edged 40 per cent higher at 2,020 tonnes versus 1,980 tonnes in August. On a year-on-year basis, monthly production in September registered a 15.28 per cent or 11,000 tonnes downfall from 72,000 tonnes, and daily output plunged 370 tonnes or 15.48 per cent from 2,390 tonnes. In September, total aluminium recovered from scrap was 280,000 tonnes, down by 15,000 tonnes or 5.08 per cent from 295,000 tonnes a month ago but 8,000 tonnes or 2.94 per cent higher than 272,000 tonnes a year earlier. Of this, 152,000 tonnes of aluminium was recovered from new scrap and 128,000 tonnes from old scrap. The...
Vedanta Ltd draws INR 2750/t from its aluminium ingot price, totalling INR223500-254500/t on Nov. 24
Vedanta Limited has reduced its aluminium ingot and aluminium products prices by INR 2,750 per tonne on Thursday, November 24, just after the day it hiked its products prices by INR 4,500 per tonne. The latest cut has brought the company’s aluminium ingot price to INR 223,500-254,500 per tonne as of November 24, compared to INR 226,250-257,250 per tonne on November 23. Vedanta’s aluminium wire rod price has slipped to INR 231,000-238,500 per tonne on November 24 from INR 233,750-241,250 per tonne on November 23. Aluminium billet price is at INR 232,500 per tonne, with effect from November 24, also down by INR 2,750 per tonne from INR 235,250 per tonne on the previous day. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London...
Africa’s primary aluminium production in Oct’22 reflects a 4.44% rise M-o-M, but daily output remains muted
Primary aluminium production in Africa during October 2022 recorded a month-on-month increase of 4.44 per cent or 6,000 tonnes to stand at 141,000 tonnes, found the International Aluminium Institute. In September, the output in Africa was 135,000 tonnes, down by 5,000 tonnes or 3.57 per cent from 140,000 tonnes. That indicated Africa’s primary aluminium output rose in October following a decline in the previous month. On a year-on-year basis, Africa’s primary aluminium production in October’22 escalated by 4,000 tonnes or 2.92 per cent from 137,000 tonnes. Despite a monthly rise in Africa’s primary aluminium production in October 2022, the country’s daily average output remained muted M-o-M at 4,500 tonnes. On a year-on-year calculation, the daily average output in October 2022 stood...
US aluminium scrap exports to Malaysia trend up through five months totalling 46,600 tonnes in August'22
In August 2022, the United States aluminium scrap exports to Malaysia stood at 46,600 tonnes, reflecting an increase of 12,600 tonnes or 37.06 per cent month-on-month, found the US Census Bureau data. In July, the export volume was 34,000 tonnes, slightly up by 900 tonnes from 33,100 tonnes a month earlier. It would be interesting to note that the United States aluminium scrap exports to Malaysia kicked up post the March quarter of 2022 and since then rallied through August 2022. In June, the United States aluminium scrap export volume to Malaysia advanced from the previous month by 6,100 tonnes or 22.59 per cent, following a sequential increase in May by 12.03 per cent from 24,100 tonnes to 27,000 tonnes. However, on a year-on-year calculation, the United States aluminium scrap exports...
Deco’s timber-look aluminium decking system receives patent from IP Australia
Deco Australia, a manufacturer of aluminium building products and finishes, has acquired a Standard Patent from IP Australia for the timber-look aluminium decking system, DecoDeck. Standard Patent by IP Australia recognises and protects designs having new and unique features different from existing products. Hence, the patent establishes that DecoDeck is one of a kind in the market. The patent also protects products against infringements or copying for 20 years per the Patents Act 1990. “Receiving this patent is another great step in protecting Deco’s Intellectual Property, which comprises Patents and Trademarks,” DECO director Ross Doonan said. DecoDeck is made from solid aluminium extrusion and finished with slip-resistant, super-durable sublimated polyurethane DecoWood powdercoat. It...
Vedanta lifts its aluminium ingot price by INR4500/t on Nov. 23 after a cut on the previous day
Vedanta Limited has hiked its aluminium ingot and aluminium products prices, with effect from Wednesday, November 23, following a cut on the previous day. On Tuesday, November 22, Vedanta reduced its aluminium ingot price by INR 2,000 per tonne to INR 221,750-252,750 per tonne, following which, the company hiked the ingot price by INR 4,500 per tonne or 2.03 per cent to INR 226,250-257,250 per tonne as of November 23. Vedanta’s aluminium wire rod price has also seen a raise of INR 4,500 per tonne on November 23 to INR 233,750-241,250 per tonne, following a dip of INR 2,000 per tonne from INR 231,250-238,750 per tonne on November 19 to INR 229,250-236,750 per tonne on November 22. Aluminium billet price is currently standing at INR 235,250 per tonne, up by INR 4,500 per tonne from INR...
China: Guangxi offers subsidies to local aluminium smelters in a bid to encourage production acceleration
According to the Shanghai Metals Market report, Guangxi province encourages aluminium smelters to resume potlines at the earliest and boost capacity utilization rates by offering subsidies and alluring incentive plans. The province will provide subsidies to the smelters whose potlines were shut down this year due to pandemic or energy consumption restrictions. The eligibility condition for the subsidies is the smelters need to restart their potlines and increase capacity utilization rates as required in the fourth quarter of 2022. Smelters who will sequentially increase their capacity utilization rates by 15-20 percentage points at the end of Q4 will get a subsidy worth RMB 2 million, while those who will raise their capacity by 20-30 percentage points will get RMB 3 million and those...
World primary aluminium production in October’22 records monthly rise of 3% to 5.85 Mt, with daily output drop by 0.16%
World primary aluminium production in October 2022 totalled 5.850 million tonnes, which reflected an increase of 3.19 per cent month-on-month, found the International Aluminium Institute data. In September, world primary aluminium output stood at 5.669 million tonnes, down by 3.93 per cent from 5.901 million tonnes in August. That demonstrated the monthly rise in October output followed a decline in the previous month. On a year-on-year calculation, world primary aluminium production in October edged a 3.12 per cent increase than 5.673 million tonnes, according to IAI. In the first ten months of 2022, world primary aluminium production amounted to 56.914 million tonnes, up by 1.33 per cent from 56.165 million tonnes a year ago. In October 2022, world daily average primary aluminium...
Hindalco’s aluminium products prices witness a cut of INR2000/t with effect from November 22
After revising aluminium prices for three consecutive days from November 17 to 19, Hindalco paused for two days and then cut both its aluminium products and aluminium ingot prices, with effect from November 22. Hindalco curtailed its aluminium wire rod price by INR 2,000 per tonne to sell the product at INR 231,850 per tonne. Previously, on November 19, the wire rod price saw a rise of INR 2,500 per tonne from INR 231,350 per tonne to INR 233,850 per tonne. Hindalco’s aluminium billets price was also reduced by INR 2,000 per tonne on November 22 from INR 236,850 per tonne on November 19 to INR 234,850 per tonne. Aluminium ingot price was no exception but saw a cut of the same amount on November 22 to stand at INR 220,750 per tonne versus INR 222,750 per tonne on November 19. Hindalco...
Aluminium foil deliveries record a 0.4% YTD growth amid a dip in Q3, shows EAFA
Aluminium foil deliveries have registered a slight year-on-year dip of 0.3 per cent for the third quarter of 2022 to 237,800 tonnes but recorded a year-to-date (YTD) increase of 0.4 per cent than a year ago, showed the European Aluminium Foil Association (EAFA). During July-September, aluminium foil deliveries exhibited a strong performance across all markets, well ahead of comparative figures for 2020 when the COVID-19 impact was in full swing, and 3.6 per cent more than 2019 pre-pandemic levels, according to the association. Demand for thicker gauges, used for semi-rigid containers, technical or other applications, declined by 4.1 per cent during Q3 and 2.7 per cent YTD, owing to a slowdown in home food deliveries. In contrast, exports of aluminium foils outside Europe rose 1.3 per cent...
China’s primary aluminium inventories tumble through the weekend to a new low at 530,000 tonnes
According to the Shanghai Metals Market, China’s social inventories of primary aluminium continued to slump through the weekend ended Monday, November 21, by 17,000 tonnes amounting to 530,000 tonnes. On a week-on-week calculation, the inventories edged 23,000 tonnes lower than 553,000 tonnes. With this fall, primary aluminium inventories have come to the lowest this year and also the lowest when compared to the same period of previous years. Wuxi led the downfall this weekend as fewer cargoes arrived after transportation in Gongyi was resumed. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories plunged by 12,000 tonnes over the weekend to total 130,000 tonnes as of Monday, November 21, followed...
Vedanta Aluminium demonstrates how to boost extrusion production at its recently held masterclass
Vedanta Aluminium, India’s largest aluminium producer, held a technical masterclass on how to boost extrusion productivity, with about 300 participants from 60 leading companies in the extrusion industry from the US, the UK, India, Portugal, Greece, Australia, Israel and many more. The masterclass was conducted by one of the world’s leading extrusion experts, Mr Jonathan Pangborn. Among 300 participants, many were students from India’s premier technical universities and institutes. The masterclass was a part of Vedanta Aluminium’s different offerings to customers, including new product development, new application development, market development, knowledge & technical expertise, and many more. Aluminium is one of the most versatile metals with unique properties like strength-to-weight...
ASI certifies Press Metal Bintulu Sdn Bhd against Performance Standard for aluminium remelting activities
Aluminium Stewardship Initiative announced on Tuesday, November 22, that it successfully certified Press Metal Bintulu Sdn Bhd, a subsidiary of Press Metal Aluminium Holdings Berhad, against the Performance Standard V2 (2017) Certification. Through the certification, ASI has acknowledged the company's aluminium smelting, re-melting/refining, casting, and aluminium dross internal recovery activities at the Sarawak facility in Malaysia. The facility has an annual production capacity of 960,000 tonnes of aluminium in the form of ingots, billets, primary foundry alloys, and wire rods. It is the first smelting operation in Southeast Asia to achieve AI Certification. Earlier, in September 2022, Press Metal International Ltd in Foshan, China, another subsidiary of Press Metal, received ASI...
