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 sees the first cut this month by INR2900/t with effect from Nov.19
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and aluminium products prices, effective from Saturday, November 19, after three consecutive hikes since the beginning of the month. NALCO’s aluminium ingot price has seen a trim of INR 2,900 per tonne from 227,950-231,450 per tonne on November 16 to INR 225,050-228,550 per tonne as of November 19. NALCO’s aluminium wire rod and billets prices have also witnessed a cut of INR 2,900 per tonne, each. The latest cut has brought the company’s aluminium wire rod price to INR 229,550-233,900 per tonne, while that of the billets price to INR 229,500- 232,150 per tonne. NALCO’s aluminium price cut with effect from November 19 followed a drop of US$50.50 per tonne in the three month futures of aluminium on the London Metal...
China’s aluminium imports decline 34% Y-o-Y on weaker domestic demand for strict COVID curbs
In October 2022, China’s aluminium imports, including primary metal and unwrought, alloyed metal, fell 33.9 per cent year-on-year, amounting to 196,460 tonnes, found the General Administration of Customs. That could be attributed to persistently weak demand and increased domestic supply due to the ramp-up in production. Aluminium output in October grew for the eighth consecutive month to 3.45 million tonnes. For the first ten months of 2022, China produced 33.33 million tonnes of aluminium – 3.3 per cent higher than in the same period last year. Weaker demand for aluminium in China’s transportation, construction, and packaging sectors due to strict COVID curbs also contributed to the decline in imports. Factory output in the world’s second largest economy grew slower than expected in...
Cardiff aluminium fabricator Dudley’s Aluminium Ltd bags three new projects of re-building schools
Cardiff-headquartered aluminium fabricator, Dudley’s Aluminium Limited, has reportedly bagged three projects in the education sector. One is St Ederyn’s School in Cardiff, where Dudley’s will install Metal Technology System-capped curtain walling, Hi windows and Hi doors, and automatic entrance doors and opening windows, together with Halsall Construction Ltd. The second project is refurbishment work at Lord William’s School in Thame, Oxfordshire. Dudley’s will team up with Borras Construction to install Metal Technology System-capped curtain walling, Hi windows and Hi doors, and brise soleil on the new English block and accessible ICT suite. For the third project, which is the expansion work of Baytree Sen School in Clevedon, Dudley’s Aluminium will work with Willmott Dixon Construction...
China’s A00 aluminium ingot price slumps to RMB19000/t level; Alumina price in Guangxi suffers a loss of RMB10/t
A00 aluminium ingot price in China started the week on Monday, November 21, with a slump of RMB 250 per tonne to the level of RMB 19,000 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 18,980 per tonne and RMB 19,020 per tonne, with a spot contract to be traded at a premium price of RMB 50-90 per tonne. In Linyi, primary aluminium ingot price has plunged by RMB 280 per tonne to stand at RMB 19,050 per tonne as of November 21, followed by a decline of RMB 270 per tonne in Gongyi and Hangzhou to RMB 18,940 per tonne and RMB 18,990 per tonne. In Wuxi and Foshan, A00 aluminium ingot price has shrunk by RMB 260 per tonne and RMB 250 per tonne to come in at RMB 19,000 per tonne and 19,060 per tonne, while the price in Chongqing, Tianjin, and...
Vedanta’s aluminium ingot price experiences a cut of INR3500/t with effect from November 18
Vedanta Limited reduced its aluminium ingot and aluminium products prices by INR 3,500 per tonne on Friday, November 18. With the latest cut, Vedanta’s aluminium ingot price hovered around 221,250-252,250 per tonne versus INR 224,750- 255,750 per tonne on November 17. Vedanta’s aluminium wire rod price ranged between INR 228,750-236,250 per tonne as of November 18, also down INR 3,500 per tonne from INR 232,250-239,750 per tonne on November 17. Aluminium billet price came in at INR 230,250 per tonne on November 18 compared to INR 233,750 on the previous day. Vedanta curtailed its aluminium ingot and products prices on November 18, in line with the plunge of the three-month futures of aluminium on the London Metals Exchange. On November 17, the LME aluminium benchmark price glided down by...
Hindalco back-to-back cuts its aluminium wire rod, billets price to sell them at INR231,350/t & INR236,600/t
Hindalco Industries Limited has cut its aluminium products and aluminium ingot prices for the two successive days – November 17 and 18. On Thursday, November 17, Hindalco trimmed its aluminium wire rod price by INR 1,750 per tonne from INR 235,350 per tonne on November 16 to INR 233,600 per tonne on November 17. The next day, November 18, Hindalco’s aluminium wire rod price further saw a cut of INR 2,250 per tonne to INR 231,350 per tonne. Hindalco’s aluminium billets price was also curtailed by INR 1,750 per tonnes on November 17 from INR 238,350 per tonne to INR 236,600 per tonne, followed by a cut of INR 2,250 per tonne on November 18 to peg at INR 234,350 per tonne. Hindalco’s aluminium ingot price was no exception but experienced cuts on November 17 and November 18 by INR 1,750 per...
US aluminium crude metals and alloys imports from India decline 31% MoM in Aug'22 but record more than double YoY
The United States’ aluminium crude metals and alloys imports from India decreased in August 2022, following an intermittent rise in the previous month after the past two successive months of decline. According to the US Census Bureau data, the United States imported 10,200 tonnes of crude metals and alloys in August, down by 4,500 tonnes or 30.61 per cent month-on-month. In July, the import volume stood at 14,700 tonnes, reflecting a hike of 6,310 tonnes or 42.93 per cent from a month ago after two consecutive months of downfall by 29.37 per cent and 16.93 per cent, respectively. On a year-on-year calculation, the United States imports in August 2022 edged a 146.38 per cent hike from 4,140 tonnes. India was the fourth largest supplier of aluminium crude metals and alloys to the United...
LME aluminium benchmark price slumps by US$50.5/t; but SHFE price heightens by US$34/t
Three-month LME aluminium opened at US$2,412 per tonne on Thursday, with high and low at US$2,419.5 per tonne and US$2,361 per tonne, respectively, before closing at US$2,379 per tonne, a drop of US$15 per tonne or 0.62 per cent. On Thursday, November 17, LME aluminium cash bid price and LME aluminium official settlement price continued to decline for the second day in a row by US$50 per tonne and US$50.50 per tonne, respectively, to stand at US$2,342 per tonne and US$2,342.50 per tonne. 3-month bid price and the 3-month offer price plunged by US$48 per tonne and US$49 per tonne to rest at US$2,370 per tonne and US$2,371 per tonne. Both December 23 bid price and December 23 offer price recorded a downfall of US$48 per tonne to settle at US$2,445 per tonne and US$2,450 per tonne. LME...
China’s aluminium billet inventories gain 6400 tonnes this week on cargo arrivals
According to the Shanghai Metals Market, aluminium billet inventories in China have accumulated 6,400 tonnes over the week ending November 17, 2022, amounting to 60,600 tonnes. Last Thursday, November 10, inventories fell by almost the same amount (6,300 tonnes) to stand at 54,200 tonnes. Increase in inventories this week could be attributed to the gradual arrivals of cargoes in Qinghai and Gansu, with the restoration of transportation capacity. To know the current status of aluminium billet inventories across China in more details, refer the chart below: Rise in aluminium billet inventories this week is primarily led by Foshan, accumulating 11,000 tonnes over a year to stand at 39,000 tonnes as of Thursday, November 17. In Nanchang, the inventories have remained almost unchanged at 4,200...
Hind Aluminium reports 310% YoY surge in net profit for the September quarter amid net sales fall
Hind Aluminium Industries Limited, a manufacturer of aluminium and alloy conductors and aluminium wire rods, announced its second quarter results ended September 30. The company reported its net sales nosedived by 90 per cent year-on-year from INR 8.00 crore to INR 0.80 crore and a quarter-on-quarter drop of 20 per cent from 1.00 crore. Net profit for the September 2022 quarter was INR 2.01 crore - 310.2 per cent higher year-on-year than INR 0.49 crore but 22.99 per cent less than INR 2.61 crore in the June quarter. Hind Aluminium’s EBITDA for the September quarter was INR 3.35 crore, up 50.22 per cent from INR 2.23 crore a year ago. The company’s EPS also grew from INR 0.78 in Q2 2021 to INR 3.19 in Q2 2022. Hind Aluminium’s shares closed at INR 37.50 on November 16, 2022 (BSE), and gave...
NALCO’s aluminium ingot price continues to grow back-to-back accumulating INR5600/t on Nov. 16
National Aluminium Company Limited (NALCO) has continued to increase its aluminium ingot and aluminium products prices, for the third time in a row, with effect from Thursday, November 16. The company has hiked its aluminium ingot price by INR 5,600 per tonne or 2.5 per cent from INR 222,350- 225,850 per tonne on November 10 to INR 227,950-231,450 per tonne on November 16. NALCO’s aluminium wire rod price has also seen a raise of INR 5,600 per tonne from INR 226,850- 231,200 per tonne to INR 232,450-236,800 per tonne as of November 16. Aluminium billets price is no exception but also accumulated the same amount to come in at INR 232,400-235,050 per tonne. NALCO links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which from November 10 to 15...
Chinese alloy producer Jiangsu Goka Light Alloy Co., Ltd. joins ASI as a Production and Transformation member
Aluminium Stewardship Initiative has reportedly announced the joining of Jiangsu Goka Light Alloy Co., Ltd. as a new Production and Transformation member. Established in 2020, Jiangsu Goka Light Alloy Co., Ltd. is located in Yancheng City, Jiangsu Province, over 44000 square metres. Equipped with world-class advanced production and test machineries, Goka has an annual design capacity of 35,000 tonnes. It provides body-in-white and battery tray components for the automotive supply chain. The main products Goka provides are crash alloy, high electrical conductivity 6XXX alloy, high strength 6XXX alloy and high strength 7XXX alloy. Bin Luo, General Manager of Goka, commented: “Aluminum is the future metal. Green and low-carbon is the important direction and social responsibility for the...
Vedanta’s aluminium wire rod & billet prices further elevate by INR2000/t with effect from Nov. 16
Vedanta Limited’s aluminium products prices have witnessed further expansion over the past four days ending November 16. The company’s aluminium wire rod price has been grown by INR 2,000 per tonne to INR 234,000-241,500 per tonne, following a significant hike of INR 9,250 per tonne on Saturday, November 12, to INR 232,000-239,500 per tonne. With the latest hike on November 16, Vedanta’s aluminium billet price has come in at INR 235,500 per tonne, up by INR 2,000 per tonne from INR 233,500 per tonne on November 12. Aluminium ingot price shows no exception but grown by INR 2,000 per tonne as well from INR 224,500-255,500 per tonne to INR 226,500-257,500 per tonne. Vedanta has escalated its aluminium ingot and aluminium products prices on November 16 in line with an increase of US$18 per...
Hindalco expands its aluminium ingot price by INR2000/t with effect from November 16
Hindalco Industries Limited has extended its aluminium ingot and aluminium products price hike, with effect from Wednesday, November 16, although at a lower rate than November 12. Hindalco has expanded its aluminium ingot price by INR 2,000 per tonne from INR 222,250 per tonne on November 12 to INR 224,250 per tonne on November 16. Hindalco’s aluminium wire rod price has also been raised by INR 2,000 per tonne from INR 233,350 per tonne on November 12 to INR 235,350 per tonne on November 16. Aluminium billets price has also seen an increase of INR 2,000 per tonne to stand at INR 238,350 per tonne as of November 16 versus INR 236,350 per tonne on November 12. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
US aluminium crude metals and alloys imports from Australia jump 354% in Aug’22 after touching YTD low a month ago
According to the US Census Bureau data, the United States aluminium crude metals and alloys imports from Australia recorded a month-on-month jump of 353.68 per cent to 19,100 tonnes in August 2022. Last month, the import volume was abysmally low at 4,210 tonnes compared to 34,800 tonnes in June. A similar trend was seen in the earlier three months during March-May. In March 2022, the US import of aluminium crude metals and alloys from Australia was 19,300 tonnes, which plunged by 226 per cent next month to 5,920 tonnes but hiked in May by 482.77 per cent to 34,500 tonnes. On a year-on-year calculation, the United States crude metals and alloys imports from Australia in August 2022 edged 3.80 per cent higher than 18,400 tonnes. From January to August 2022, the United States imported...
Alumina production in South America shrinks during Sept’22 but records a 6% hike for Q3 to 2.95 MT
In South America, alumina production during September 2022 stood at 981,000 tonnes, bringing the total output for the third quarter of the year to 2.951 million tonnes, found the International Aluminium Institute (IAI). The monthly production in September edged 15,000 tonnes or 1.51 per cent lower than 996,000 tonnes in August, following an increase in the previous month by 2.26 per cent from 974,000 tonnes. Overall, the alumina production in South America during the third quarter of 2022 stood at 5.85 per cent higher sequentially from 2.788 million tonnes. On a year-on-year basis, South America’s alumina output also recorded an escalation of 4.28 per cent from 2.830 million tonnes. From January to September 2022, South America produced 8.584 million tonnes of alumina in total, down by...
Bulgarian aluminium products manufacturer Alcomet to invest in rooftop solar PV installation
A leading Bulgarian manufacturer of aluminium rolled and extruded products, Alcomet AD, said it would invest in a rooftop solar photovoltaic (PV) installation with a capacity of 2 megawatts. The news came after Alcomet said in a bourse filing on Friday, specifying that PV installation would be placed at existing buildings that are part of the company’s production facilities. Besides this, the company provided no further information, nothing related to the cost of the investment proposal or the expected commissioning time. Based in Shumen, northeastern Bulgaria, Alcomet manufactures household, technical and container foils, sheets and strips, as well as standard and customized aluminium profiles. In October, the company reported an increase in its standalone profit to 34 million levs...
China’s primary aluminium production grows 9.5% in October; strong output amid weak domestic demand weighs on prices
The National Bureau of Statistics revealed China’s primary aluminium production in October 2022 increased by 9.5 per cent year-on-year, bolstered by the ease of power consumption curb than the previous year and growing exports. NBS data showed the country produced 3.45 million tonnes of the metal, marking a rise for the eighth straight month compared to 2021 numbers. The daily average output in the said month was pegged at 111,290 tonnes, supported by higher consumption of primary aluminium to produce and meet overseas demand for Chinese aluminium products. From January to October 2022, China exported 5.68 million tonnes of unwrought aluminium and aluminium products. That was up by 25 per cent year-on-year, cushioning domestic primary aluminium output. In the first ten months of the year,...
