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.
China’s primary aluminium inventories stand 23,000 tonnes lower over the weekend, shows SMM
According to the Shanghai Metals Market, social inventories of primary aluminium across China’s eight major consumption areas, including SHFE warrants, totalled 553,000 tonnes, losing further 23,000 tonnes over the weekend ended November 14. On a week-on-week basis, primary aluminium inventories decreased by 18,000 tonnes from 571,000 tonnes, showed SMM. The figure is also 59,000 tonnes lower than a month ago and 469,000 tonnes during the same period last year. To know the current status of the inventories in more details, refer the chart below: The decline in primary aluminium inventories on Monday was primarily led by Wuxi, registering a plunge of 24,000 tonnes over the weekend to 146,000 tonnes. In Gongyi, inventories dropped by 9,000 tonnes to peg at 66,000 tonnes as of Monday,...
Vedanta’s aluminium ingot price sees a hike of INR9250/t with effect from November 12
Vedanta Limited hiked its aluminium ingot and aluminium products prices, with effect from Saturday, November 12, after a cut by INR 6,250 per tonne on the previous day. On November 12, Vedanta’s aluminium ingot price saw an expansion of INR 9,250 per tonne from INR 215,250-246,250 per tonne to INR 224,500-255,500 per tonne. Vedanta’s aluminium wire rod price was also elevated by INR 9,250 per tonne, with effect from November 12, to sell the production at INR 232,000-239,500 per tonne. On November 11, the wire rod price stood at INR 222,750-230,250, slashed by INR 6,250 per tonne from the earlier day. The company’s aluminium billet price came in at INR 233,500 per tonne on November 12, experiencing an elevation of INR 9,250 per tonne from November 11. Vedanta lifted its aluminium prices on...
GIADEC is working on doubling Ghana Bauxite Company’s production capacity
Ghana Integrated Aluminium Development Corporation (GIADEC) is reportedly working on increasing the production capacity of the Ghana Bauxite Company (GBC) from one million tonnes per annum to two million tonnes per annum. The news came after Mr Michael Ansah, the Chief Executive Officer of the GIADEC, said it had been working diligently with various stakeholders to boost the production capacity. According to Mr Ansah, GIADEC is working with the government of Ghana and its new partner Ofori Poku Company Limited (OPCL), who recently acquired 80 per cent stake in Ghana Bauxite Company, which a Chinese mining giant Bosai Minerals Group Limited previously held. Mr Ansah explained the aim to increase GBC’s production capacity was part of the short to medium term goals as GIADEC recently...
Hindalco elevates its aluminium wire rod price by 4% with effect from Nov. 12 after three successive cuts
After three successive cuts on November 8, 10 and 11, Hindalco Industries Limited elevated its aluminium products and aluminium ingot prices, with effect from Saturday, November 12. The company lifted its aluminium wire rod price by INR 9,250 per tonne or 4.07 per cent to sell the item at INR 233,350 per tonne, following three back-to-back cuts from INR 229,100 per tonne to INR 224,100 per tonne during November 5-11. Hindalco’s aluminium billets price was also built up by INR 9,250 per tonne on November 12 to INR 236,350 per tonne. On November 11, the price stood at INR 227,100 per tonne, down by INR 5,000 per tonne from INR 232,100 per tonne on November 11. Aluminium ingot price was no exception but saw a hike of INR 9,250 per tonne as well from INR 213,000 per tonne on November 11 to...
Why buy AlCircle’s report: “Future of the Global Aluminium Castings Industry - Market analysis and industry forecast to 2027”?
AlCircle recently published a report on “ Future of the Global Aluminium Castings Industry - Market analysis and industry forecast to 2027 ” to explore the prodigious market of aluminium castings, thanks to its ability to absorb large volumes of recycled aluminium produced from post-consumer scrap. Castings produced from recycled aluminium are used in mainstream automobile applications such as engines and wheels. The report offers a comprehensive analysis of the casting market, with a mid-term forecast. It provides in-depth insights into processes, applications, usage by region & across end-use sectors, and technology developments of castings. Casting is one of the oldest methods of producing a shaped metal. The process involves melting the metal in a furnace or ladle and pouring the...
China’s domestic alumina price continues its downtrend at RMB2776/t causing losses to refineries; aluminium ingot price gains RMB20/t
The average alumina spot price has continued to decline across China by RMB 2 per tonne on Monday, November 14, to stand at RMB 2,776 per tonne. In Shandong, alumina price has lost RMB 10 per tonne to open the week at RMB 2,710 per tonne, according to the Shanghai Metals Market. As a result of the continuous downtrend in the alumina spot price, alumina refineries, particularly in Shanxi and Henan, are deep in losses. Zhongmei Aluminum, Taixing Aluminium and Magnesium, and Xiaoyi Huaqing, each with 400,000 tonnes, have already collectively idled 1.2 million tonnes of capacity. Besides them, many other refineries in Shanxi, Jiaokou, and Xinghua have suspended production due to raw material shortage and higher energy costs. However, on the other hand, A00 aluminium ingot price has grown by...
Novelis to supply high-recycled, flat-rolled aluminium for VELUX roof windows, promoting circular economy
Novelis has agreed to supply high-recycled, flat-rolled aluminium to VELUX Group for use in roof windows. The news came on Friday, November 11, after Novelis and VELUX Group entered into a partnership contract. As per the report, VELUX Group is hopeful to meet its carbon emissions goal by 2030 across the value chain by using high-recycled content. The aluminium will have a recycled content of around 70 per cent, about 30 per cent more than what Novelis currently supplies to VELUX. Novelis targets to supply rolled aluminium having below 4 .0 kg of carbon emitted per kilogram to VELUX by 2024, well below half the average carbon footprint of primary aluminium used in Europe. Stephen Boney, Vice President, Specialty Products, Novelis Europe, said: "We are excited that we can help VELUX...
China’s aluminium production reflects a 7.8% rise Y-o-Y to 3.41 million tonnes in October’22
According to the Shanghai Metals Market, China’s aluminium production amounted to 3.41 million tonnes in October (31 calendar days), with daily output of 110,100 tonnes. The monthly output reflected a 7.8 per cent growth year-on-year, driven by domestic operating capacity rise in October and more significant output growth in Sichuan. The operating aluminium capacity in Sichuan ramped up to about 360,000 tonnes in October, up by 160,000 tonnes M-o-M. On the other hand, the resumption of capacity in Guangxi and the commencement of new capacity in Guizhou and Inner Mongolia were slower than expected. In Yunnan, aluminium production dropped significantly as some smelters suspended their operation. About 1.17 million tonnes of the present capacity (4.04 million tonnes) in Yunnan was reduced...
Alba books a profit above $1 billion in nine months of 2022, with comprehensive income growing 51% Y-o-Y
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium companies headquartered in the Middle East, has announced the third quarter and nine months results ended September 30, 2022. As per the report, Alba has booked a profit of BD48 million (US$127.6 million) for the third quarter of 2022 – 62 per cent less than BD125.9 million (US$335 million) in Q3 2021. But its profit in the entire first nine months of the year reflected an increase of 39.2 per cent Y-o-Y, amounting to above US$1 billion for the second year in a row. The nine-month profit was reported at BD376.7 million (US$1,001.9 million) compared to BD270.7 million (US$720 million) a year ago. Alba’s total comprehensive income in the first nine months of 2022 also stood higher than a year ago from BD275.5 million...
NALCO’s aluminium ingot price grows for the second time in a row by INR5300/t on November 10
National Aluminium Company Limited (NALCO) has elevated its aluminium ingot and aluminium products prices for the second consecutive time since November 1, although slightly at a lower rate. Compared to a hike of INR 6,600 per tonne on November 1, NALCO increased its aluminium ingot price by INR 5,300 per tonne on November 10. Thus, the price has come in at INR 222,350- 225,850 per tonne versus INR 217,050-220,550 per tonne last week. NALCO’s aluminium billets price has also seen a surge of INR 5,300 per tonne, with effect from November 10, amounting to INR 226,800- 229,450 per tonne. Aluminium wire rod price has been raised from INR 221,550-225,900 per tonne on November 1 to INR 226,850- 231,200 per tonne on November 10. NALCO links its aluminium prices to the three-month futures of...
China’s Oct. alumina output dips to 6.68 Mt M-o-M owing to production cut for higher operating costs
According to the Shanghai Metals Market, China produced 6.68 million tonnes of metallurgical-grade alumina in October 2022 (31 calendar days), with daily output of 215,400 tonnes. The monthly production stood 0.61 per cent down M-o-M but 10.3 per cent more over the year. At the end of October, the operating capacity was 78.61 million tonnes, with operating rates at 81.1 per cent, found SMM. The decline in monthly output during October touched upon some of the major Chinese cities, whilst a few saw an increase in production. In Shandong, alumina output during October was 2.16 million tonnes, reflecting a drop of 2.41 per cent M-o-M; in Shanxi and Henan, the production of the ore was 1.58 million tonnes and 721,000 tonnes, respectively, after losing 0.62 per cent and 7.43 per cent of output...
NALCO posts a 2% Y-o-Y drop in total income for 2QFY23 on higher expenses of INR3312.95 crore
On Wednesday, November 9, National Aluminium Limited (NALCO) announced its financial results for the second quarter and first half of the fiscal year 2023 ended September 30. The company declared its total income stood at INR 3,558.83 crore during Q2 FY23 compared to INR 3,846.22 crore in Q1 and INR 3,634.59 crore in Q2 FY22. That recorded a Q-o-Q decline of 7.47 per cent and a year-on-year fall of 2.08 per cent in the September quarter. However, for the first half of FY23, NALCO booked a 20.6 per cent increase in total income from INR 6,140.88 crore to INR 7,405.05 crore. NALCO’s profit before exceptional items and tax was pegged at INR 245.88 crore in Q2 FY23, 68.40 per cent less than INR 778.05 crore a quarter ago and 75.80 per cent plunged from INR 1,016.07 crore a year earlier,...
India’s aluminium scrap imports from US grow 11.3% in August'22 after a month of restraint
According to the US Geological Survey (USGS) data, India imported 46,100 tonnes of aluminium scrap from the United States in August 2022. That reflected an increase of 5,200 tonnes or 11.28 per cent sequentially, following restraint in the previous month at 40,900 tonnes. In June, India’s aluminium scrap import volume from the US grew 6.50 per cent or 2,500 tonnes M-o-M from 38,400 tonnes. On a year-on-year calculation, India’s aluminium scrap imports from the US edged 800 tonnes higher than 45,300 tonnes, found USGS. From January to August 2022, India imported 314,000 tonnes of aluminium scrap from the US in total, 26.61 per cent more than 248,000 tonnes during the corresponding period of the last year. In August 2022, the United States exported 178,000 tonnes of aluminium scrap...
Hindalco’s aluminium ingot price shrinks by INR2000/t with effect from November 8
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices by INR 2,000 per tonne, with effect from Tuesday, November 8. This follows a hike of INR 6,250 per tonne in the previous week, November 5. As per the latest price chart revealed by Hindalco, its aluminium ingot price stands at INR 216,000 per tonne compared to INR 218,000 tonnes on November 5. Hindalco’s aluminium wire rod price has come in at INR 227,100 per tonne as of November 8 versus INR 229,100 per tonne on November 5. Aluminium billets price has summed up at INR 230,100 per tonne, down by INR 2,000 per tonne from INR 232,100 per tonne. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange. The...
Hydro Rein, Commerz Real form JV to develop solar projects in Denmark, expect to decarbonise aluminium industry
Hydro Rein and Commerz Real are reportedly forming a joint venture to acquire and develop two early-phase solar projects in Jylland, Denmark. These are the first-ever investments in the Danish photovoltaic market for Commerz Real. The construction of the projects is expected to start in 2024, and operations to begin in early 2026. The objective is to grow the portfolio to 1 GW. The joint venture will be owned equally by Hydro Rein and Commerz Real. Danish developer GreenGo Energy will develop the projects until they come into operation. As per the report, the projects will have an estimated peak capacity of 170 MW and 192 MW, respectively, with a total annual production of 412 GWh. The two new solar projects are expected to power energy-intensive industries and help them decarbonise their...
Novelis’ net income from operations fall 23% for 2QFY23 despite growing net sales, higher input costs being liable
Novelis Inc., the world’s leading recycler and aluminium flat rolled producer announced its second-quarter results for the financial year 2023 on Tuesday, November 8. The company declared its net income attributable to common shareholders decreased by 23 per cent year-on-year to $183 million. Net income from continuing operations also shrank 23 per cent from the prior year to $184 million, while the same, excluding special items, declined 17 per cent Y-o-Y to $203 million, primarily due to lower Adjusted EBITDA. Adjusted EBITDA lost 8 per cent over the year in 2QFY23 from $553 million to $506 million, owing to higher energy costs and other raw materials prices driven by geopolitical instability, inflation, and global supply chain disruptions. However, these were partially offset by...
Vedanta curtails its aluminium wire rod price by INR2000/t with effect from November 8
Vedanta Limited has curtailed its aluminium products and aluminium ingot prices by INR 2,000 per tonne or 1 per cent, with effect from Tuesday, November 8. With the latest cut, the company’s aluminium wire rod price has come in at INR 225,750-233,250 per tonne versus INR 227,750- 235,250 per tonne on November 5. Vedanta’s aluminium billet price is hovering around INR 227,250 per tonne, effective from November 8, compared to INR 229,250 per tonne. Aluminium ingot price has pegged at INR 218,250-249,250 per tonne, also down by INR 2,000 per tonne from INR 220,250- 251,250 per tonne. Vedanta has cut its aluminium ingot and aluminium products prices in response to the decline of US$14 per tonne in the three-month futures of aluminium on the London Metal Exchange from US$2,306 per tonne on...
South32 suspends potline at Mozal aluminium smelter after two deaths and one injury in an accident
According to a recent report, South32 has temporarily stopped its potline at Mozal aluminium smelter in Mozambique after an accident on Monday, November 7, caused two deaths and one injury of a contractor. The news came after South32 reported: “Reduction operations in Potroom A at Mozal have been suspended and an investigation into the incident is underway.” It added, “Learnings will be shared across South32 to understand how we can prevent a similar incident occurring again in the future.” The contractor is undergoing treatment for his injuries, said South32 without giving any further details on the nature of the accident. In addition to the tragic loss of life, the accident has caused an interruption to aluminium production, which is unacceptable to South32 as its aluminium sales in the...
