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.
Alumina production in Europe (incl.) Russia edges 6.2% downfall sequentially for September quarter
In Europe (incl.) Russia, alumina production for the third quarter of 2022 totalled 1.968 million tonnes, reflecting a decrease of 6.2 per cent sequentially from 2.098 million tonnes, found the International Aluminium Institute (IAI). The quarter-on-quarter decline in Europe’s alumina output continued in Q3 following the fall in Q2 by 13.66 per cent from 2.430 million tonnes. However, the figures indicate the rate of decline shrank in Q3 compared to the previous quarter. In September 2022, alumina output in Europe (incl.) Russia stood at 615,000 tonnes, which registered a slump of 6.82 per cent or 45,000 tonnes from a month ago. In August, alumina production was 660,000 tonnes, again down by 33,000 tonnes from 693,000 tonnes in July. On a year-on-year calculation, Europe’s alumina...
Century Aluminum’s net sales losses 25.6% sequentially for Q3 on lower shipments, but net income grows by $6.9 million
On Monday, November 7, Century Aluminum Company, a US-based primary aluminium producer, announced its third quarter results ended September 30, 2022, whereby it declared its net income growing $6.9 million sequentially to $44.3 million. In Q2, the company yielded a net income of $37.4 million. Diluted earnings per share was $0.43 in the third quarter compared to $0.36 in Q2. Although the company’s net income rose in Q3, net sales decreased by 25.61 per cent quarter-on-quarter from $856.6 million to $637.2 million, driven by lower shipments. Century Aluminum reported that its shipments in Q3 fell sequentially by 40,359 tonnes from 214,084 tonnes to 173,725 tonnes. The company’s adjusted EBITDA also fell from $86.6 million in the June quarter to $35.9 million in the September quarter,...
Primary aluminium inventories in China decline to a new low this year at 571,000 tonnes: SMM
Social inventories of primary aluminium in China have further lost 9,000 tonnes over the weekend ended November 7, 2022, across eight major consumption areas, including SHFE warrants, found the Shanghai Metals Market. Thus, the inventories froze at 571,000 tonnes as of November 7, down by 42,000 tonnes week-on-week from 613,000 tonnes. The current inventory is a new low in 2022, driven by pandemic-induced transportation restrictions in China. To know the status of inventory in more details, refer the chart below: The decline in Chinese primary aluminium inventories to a new low over the weekend was primarily contributed by Wuxi and south China, though the downfall in the latter slowed due to weakening trades. In Wuxi, inventories plunged by 13,000 tonnes on Monday to stand at 171,000...
Hindalco Industries elevates its aluminium wire rod & billets prices by INR6250/t on November 5
Hindalco Industries Limited lifted its aluminium products prices on Saturday, November 5, after trimming it on Thursday, November 3, by INR 1,500 per tonne. With effect from November 5, Hindalco’s aluminium wire rod price stands at INR 229,100 per tonne, up by INR 6,250 per tonne or 2.80 per cent from INR 222,850 per tonne on November 3. Hindalco’s aluminium billets price was also raised by INR 6,250 per tonne on Saturday to be sold at INR 232,100 per tonne versus INR 225,850 per tonne on November 3. The company’s aluminium ingot price was no exception but also saw a hike o INR 6,250 per tonne on November 5 from INR 211,750 per tonne to INR 218,000 per tonne. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
Maan Aluminium yields 19% higher revenue from operations Y-o-Y to 1.88 billion for 2QFY23
On Monday, November 7, Maan Aluminium Limited announced its second quarter and H1 results of the financial year 2022-23 ended September 30, whereby it declared its revenue from operations closing at INR 1.88 billion compared to INR 1.73 billion in Q1 FY23 and INR 1.58 million in Q2 FY22. That showed an increase over the month as well as year, bringing the total income to INR 1.9 billion in the September quarter versus INR 1.74 billion in the June quarter. Revenue from operations in the first six months of the year (H1) totalled INR 3.6 billion, while total income stood at INR 3.64 billion. The latter grew by 28 per cent INR 2.81 billion during the corresponding period of the last year. Maan Aluminium also reported that its total comprehensive income in 2QFY22 amounted to INR 131 million,...
Hydro signs strategic collaboration agreement with NTNU to strengthen R&D on aluminium value chain sustainability
According to a report last week, Hydro signed a new strategic collaboration agreement with the Norwegian University of Science and Technology (NTNU) to build up professional collaborations to practise more R&D on aluminium and energy. The agreement was signed by Hydro’s President& CEO Hilde Merete Aasheim and NRNU’s chief academic and administrative officer Anne Borg, in the presence of key Hydro technologists, NTNU professors and SINTEF researchers in Trondheim. According to Aasheim, “Hydro and NTNU both recognize the importance of ensuring long-term sustainability in accordance with the United Nations’ sustainability goals and wish to promote collaboration to enable this. We both have the shared intention to strengthen, explore and increase the cooperation in connection with Hydro's...
NALCO’s aluminium ingot price heightens 3% to INR217,050-220,550/t with effect from November 1
National Aluminium Company Limited has hiked its aluminium ingot price, with effect from November 1, following a trim in the previous week. The company is currently selling its ingot at INR 217,050-220,550 per tonne, up by INR 6,600 per tonne or 3 per cent from INR 210,450-213,950 per tonne on October 26. Among the company’s aluminium products prices, its billets price has also seen an increase of INR 6,600 per tonne, with effect from November 1, to stand at INR 221,500-224,150 per tonne versus INR 214,900-217,550 per tonne in the earlier week. However, NALCO’s aluminium wire rod price has shown an exception by gaining INR 1,000 per tonne more than ingot and billets. The price is ranging between INR 221,550-225,900 per tonne, up by INR 7,600 per tonne or 3.5 per cent from INR...
Novelis breaks ground on a new $50 million recycling centre in South Korea to produce low-carbon sheet ingot
Novelis Incorporation, the world’s largest aluminium recycler and flat-rolled producer, broke ground on November 6 on a new $50 million recycling centre in South Korea. The project will be able to produce 100 thousand tonnes of low-carbon sheet ingot annually by recycling aluminium, resulting in reducing Novelis’ carbon emissions by more than 420,000 tonnes each year. "As the world leader in sustainable, low-carbon rolled aluminum solutions, we are focused on accelerating the transition of the aluminum industry to a circular economy model through the increased use of recycled content in our products," said Sachin Satpute, President of Novelis Asia. "Doing so will reduce our carbon footprint – as well as that of our customers and industry as a whole – and lead us closer to realizing our...
Primary aluminium inventories total the lowest this year at 580,000 tonnes: SMM
According to the Shanghai Metals Market, social inventories of primary aluminium continued to decline week-on-week by 41,000 tonnes, ended November 3, 2022. The stocks plunged across eight major consumption areas across China, including SHFE warrants, to total 580,000 tonnes, down by 33,000 tonnes from Monday. On a month-on-month basis, the inventories on Thursday edged 93,000 tonnes lower, while that on a year-on-year basis stood 433,000 tonnes down. Transportation restrictions due to pandemic resulted in fewer arrivals in the market, leading to inventory downfall to the lowest this year. However, the transportation in Gongyi and Henan provinces has begun to resume from October 31, which is expected to alleviate supply tightness from the next week, allowing cargoes to arrive. To know the...
Hindalco’s aluminium ingot price drops INR1500/t with effect from November 3
Hindalco Industries Limited slightly reduced its aluminium ingot and aluminium products prices on November 3, a day after it hiked the prices by INR 5,250 per tonne. On November 3, Hindalco’s aluminium ingot price saw a dip of INR 1,500 per tonne from INR 213,250 per tonne to INR 211,750 per tonne. Aluminium wire rod price was also cut by INR 1,500 per tonne or 0.67 per cent to be sold at INR 222,850 per tonne on November 3 versus INR 224,350 per tonne on November 2. Hindalco’s aluminium billets price is standing at INR 225,850 per tonne since November 3, also down by INR 1,500 per tonne from INR 227,350 per tonne on the previous day. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange....
SMM expects China’s aluminium plate/sheet and strip output will mark a 2% Y-o-Y growth at 2022-end
According to the Shanghai Metals Market, China’s aluminium plate/sheet and strip output is expected to amount to 12.9 million tonnes at the end of 2022, reflecting an increase of 2 per cent over the year. Aluminium foil output is estimated to clock at 4.75 million tonnes at year-end, up 3 per cent year-on-year. The output of can body stock, can end stock and packaging foil is estimated to close the year at 1.88 million tonnes, 500,000 tonnes, and 2.4 million tonnes, respectively. On a year-on-year basis, the output of can body stock and can end stock will record an 11 per cent hike, while packaging foil will reflect a 4 per cent growth. SMM estimates robust demand for aluminium plate/sheet and strip for food packaging will drive the growth of the aluminium flat rolled industry. The output...
Ball Corporation yields higher net earnings of $392 million for 3Q2022, attributable to $3.95 billion of sales
On Thursday, November 3, Ball Corporation announced its third quarter and year-to-date results ended September 30. Ball Corporation is the world’s leading sustainable aluminium packaging provider for beverage, personal care and household products. In Q3, the company generated net earnings of $392 million attributable to the corporation or diluted earnings per share of $1.24, backed by $3.95 billion of sales, compared to $179 million net earnings on $3.55 billion of sales during the same period last year. As per the report, the company recorded this gain on the Russian business disposal during 3Q2022. In the nine-month period, Ball yielded net earnings of $664 million or $2.07 per diluted share in comparison with $581 million or $1.75 per diluted share last year. This year from January to...
Alcoa bags Aluminum Industry Leadership award at the 10th annual Platts Global Metals Awards
Alcoa Corporation, the world’s eighth largest aluminium producer, won the Aluminum Industry Leadership award at the 10th annual Platts Global Metals Awards, which recognise and celebrate leadership, innovation, stewardship and commitment to a greener future. Kelly Thomas, Alcoa’s Executive Vice President and Chief Commercial Officer, accepted the award, the most respected and competitive in the metals sector. It recognises companies that shape the future of the metals industry. For the past five decades, the Global Metals Awards has recognised and honoured the best-of-the best in the metals industry, whether individual or company. The award acknowledges leadership across fifteen categories. The Aluminum Industry Leadership award recognises companies that produce and process aluminium...
US aluminium plates, sheets and bars imports from Oman rebound in July 2022 at 10,300 tonnes
The United States aluminium plates, sheets and bars imports from Oman in July 2022 rebounded close to the volume in May 2022. After a month-on-month drop in June by 2,450 tonnes or 22.69 per cent to 8,350 tonnes, the United States aluminium flat rolled products imports grew by 1,950 tonnes to stand at 10,300 tonnes. In May 2022, the import volume stood at 10,800 tonnes, according to the US Census Bureau data. In the three-month period from May to July 2022, the total imports summed up at 29,450 tonnes, while the total imports in the first seven months of the year amounted to 66,500 tonnes. Going by each month of 2022, Oman has been a consistent supplier of aluminium plates, sheets and bars to the United States. In the first two months of the year, the export volume muted at 7,010 tonnes,...
Vedanta’s aluminium ingot price accumulates INR5250/t on November 2; products prices show no exception
Vedanta Limited has expanded its aluminium ingot and aluminium products prices, effective from Wednesday, November 2, soon after it cut the prices on the previous day. On November 1, the company reduced its aluminium ingot price by INR 2,750 per tonne to INR 210,250- 240,750 per tonne, following which it hiked the price by INR 5,250 per tonne on November 2 to INR 215,500- 246,000 per tonne. Vedanta’s aluminium billets price has been also been raised by INR 5,250 per tonne, with effect from November 2, to sell the product at INR 224,500 per tonne, after deducting INR 2,750 per tonne from the item on November 1 to INR 219,250 per tonne. Aluminium wire rod price is currently hovering around INR 223,000- 230,500 per tonne since November 2, seeing an increase of INR 5,250 per tonne. On...
US domestic primary aluminium output declines for the third month in a row to 61,000 tonnes: USGS
In August 2022, the United States’ domestic primary aluminium production stood at 61,000 tonnes, falling further, although at a lower rate than the previous month, found the US Census Bureau data. The output in July fell by 14,000 tonnes M-o-M to come in at 64,000 tonnes, while that in August dipped by 3,000 tonnes. The production decline in August marks the third consecutive month-on-month fall since June 2022, whereby the output plunged by 6,000 tonnes or 7.14 per cent from 84,000 tonnes to 78,000 tonnes. On a year-on-year calculation, the production in August 2022 was 12,000 tonnes or 16.44 per cent less than 73,000 tonnes. The average daily production was 1,980 tonnes, which registered a decline of 4.35 per cent from 2,070 tonnes in July’22 and 16.11 per cent from 2,360 tonnes in...
Alumina production in Africa & Asia (ex-China) falls consistently through Q3 to close at 3.518 Mt: IAI
In September 2022, alumina production in Africa & Asia (ex-China) stood at 1.121 million tonnes, registering a downfall of 6.27 per cent month-on-month but an increase of 1.91 per cent year-on-year, found the International Aluminium Institute data. In August 2022, Africa & Asia’s (ex-China) alumina output was 1.196 million tonnes, also down by 0.42 per cent from 1.201 million tonnes. That showed alumina output in Africa & Asia (ex-China) recorded a consistent month-on-month downfall through July-September 2022, bringing the total volume of production in Q3 to 3.518 million tonnes. On a quarter-on-quarter calculation, Africa & Asia’s (ex-China) alumina production in the third quarter of 2022 edged 0.34 per cent lower than 3.530 million tonnes. However, on a year-on-year basis, the output...
Hindalco lifts its aluminium billets price by 2.4% on Nov. 2 as LME price inaugurates the month with a hike
Hindalco Industries Limited has lifted its aluminium products and aluminium ingot prices on Wednesday, November 2, after reducing them the previous day by INR 2,500 per tonne. Hindalco’s aluminium wire rod price has been elevated by INR 5,250 per tonne or 2.40 per cent to INR 224,350 per tonne versus INR 219,100 per tonne on November 1. The company’s aluminium billets price has also seen a hike of INR 5,250 per tonne, with effect from November 2, to peg at INR 227,350 per tonne. On November 1, the price stood at INR 222,100 per tonne, down by 1.11 per cent from 224,600 per tonne. Aluminium ingot price is no exception but undergone an increase of INR 5,250 per tonne on November 2 to stand at INR 213,250 per tonne, following a cut on the previous day from INR 210,500 per tonne to INR...
