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 spot price in China slips by RMB5/t to stand at RMB2835/t; A00 aluminium ingot price remains muted
The average alumina spot price in China has continued to slip by RMB 5 per tonne to clock at RMB 2,835 per tonne on Tuesday, October 11, found the Shanghai Metals Market. In Henan, Shanxi, and Guangxi, alumina price has slid by RMB 5 per tonne to stand at RMB 2,910 per tonne, RMB 2,780 per tonne, and RMB 2,800 per tonne, respectively. In Shandong and Guizhou, alumina price has gained RMB 10 per tonne to hover around RMB 2,800 per tonne and RMB 2,835 per tonne as of October 11, found SMM. However, the Australian alumina FOB price has remained restrained at US$320 per tonne on Tuesday, October 11. China’s domestic A00 aluminium ingot price has recorded no change today from RMB 18,600 per tonne. According to the Shanghai Metals Market, the average prices are expected to range between RMB...
Vedanta’s aluminium wire rod price suffers a loss of INR5250/t on October 11
Vedanta Limited has axed its aluminium products and aluminium ingot prices, with effect from Tuesday, October 11, following three back-to-back hikes. According to the revised prices revealed, the company’s aluminium wire rod price has seen a slash of INR 5,250 per tonne to range between INR 224,750-232,250 per tonne. Vedanta’s aluminium billet price has come in at INR 226,250 per tonne as of October 11, down by INR 5,250 per tonne or 2.27 per cent from INR 231,500 per tonne on October 7. Aluminium ingot price is no exception but also experienced a cut of INR 5,250 per tonne from INR 222,500-253,000 per tonne on October 7 to INR 217,250 -247,750 per tonne on October 11. Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which plunged by...
Gravita India starts commercial aluminium production at a new recycling plant in Senegal
Gravita India, Jaipur-based aluminium recycler and alloy ingot producer, has reportedly announced the start of commercial aluminium production at a new recycling plant owned by its step down subsidiary situated in Senegal, West Africa. The plant, with an annual capacity of around 4,000 MTPA, expects to generate additional revenue of nearly INR 60 crore per annum with a gross margin of 20 per cent. Gravita India has invested nearly INR 30 crore from internal accruals to procure and commission a new recycling plant. The plant will supply aluminium scrap domestically for the production of aluminium alloys ingot, which will cater to the needs of aluminium die casting components manufacturing industries of the Auto & FMCG sector located in China, Japan and Vietnam. This plant will expand the...
China’s primary aluminium inventories experience speedy recovery during National Day holiday to stand at 674,000 tonnes
The Shanghai Metals Market survey found social inventories of primary aluminium built-up 55,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, during the National Day holiday ended October 7, 2022. As of Saturday, October 8, inventories totalled 674,000 tonnes, up by 22,000 tonnes from October 26. The surge in inventories could be attributed to downstream consumption recovery, as better consumption led to the possibility of continuous inventory accumulation. The chart below indicates the current status of primary aluminium inventories across China in more details: On a week-on-week basis, primary aluminium inventories in Wuxi rose 17,000 tonnes to stand at 206,000 tonnes as of October 8, following a sharp downfall of 22,000 tonnes in Gongyi to 90,000 tonnes....
Novelis breaks ground on its new aluminium rolling and recycling plant worth $2.5 billion
Novelis Inc., the leading producer of aluminium flat-rolled products and the world’s largest recycler, has reportedly broken ground and started construction of its recycling and rolling plant in Bay Minette, Alabama. The project costs $2.5 billion, with advanced facilities, and is expected to create up to 1,000 new jobs. The commissioning of the plant is scheduled for mid-2025. Initially, the plant will operate with an annual production capacity of 600 kilotonnes of finished aluminium goods, focusing on the beverage container market. It will also have a recycling centre for beverage cans, which will ramp up the company’s recycling capacity by 15 billion cans per year when fully operational. At the groundbreaking ceremony, Steve Fisher, President and CEO of Novelis, said: "Through this...
LME aluminium price escalated by US$178/t this week to settle at US$2342/t; SHFE was closed for National Day holiday
The LME aluminium benchmark price soared through this week except the fact it started with a decline. On Monday, October 3, LME aluminium cash bid price and LME aluminium official settlement price slumped by US$16.5 per tonne and US$16 per tonne, respectively, to initiate the week at US$2,163 per tonne and US$2,164 per tonne. But on Tuesday, October 4, the prices escalated by 4.5 per cent to rest at US$2,261 per tonne and US$2,261.50 per tonne. The next day, October 5, LME aluminium cash bid price and LME aluminium official settlement price further shot up by US$27 per tonne and US$27.50 per tonne to close at US$2,288 per tonne and US$2,289 per tonne. On October 6, both the prices continued to grow and stood at US$2,354.50 per tonne and US$2,355 per tonne, respectively. However, on...
NALCO’s aluminium ingot price soars by INR19800/t with effect from October 6, 2022
National Aluminium Company Limited (NALCO) has significantly raised its aluminium ingot and aluminium products prices, effective from Thursday, October 6, following a sharp cut on September 27. NALCO’s aluminium ingot price has witnessed a surge of INR 19,800 per tonne to stand at INR 223,250-226,750 per tonne versus INR 203,450-206,950 per tonne last week. NALCO’s aluminium wire rod price has come in at INR 226,750-231,100 per tonne, also up by INR 19,800 per tonne from INR 206,950- 211,300 per tonne on September 27. Aluminium billets price is no exception but soared by the same amount to settle at INR 227,700-230,350 per tonne versus INR 207,900- 210,550 per tonne on September 27. NALCO has sharply expanded its aluminium prices in response to the continued increase in the three-month...
Hindalco’s aluminium ingot price ascends 4% to INR220250/t on October 7
Hindalco Industries Limited has further expanded its aluminium ingot and aluminium products prices on Friday, October 7, following a hike two days ago (October 5). The company has continued to raise its aluminium ingot price by INR 9,000 per tonne or 4.26 per cent after increasing it significantly by INR 7,000 per tonne on the previous day. Therefore, the ingot price is now at INR 220,250 per tonne versus INR 211,250 per tonne on October 5. Hindalco’s aluminium wire rod price has also been raised by INR 9,000 per tonne on October 7 bringing it to INR 231,350 per tonne. On October 5, the price stood at INR 222,350 per tonne, seeing a build-up by INR 7,000 per tonne from the previous day. Aluminium billets price has come in at INR 234,350 per tonne as of October 7 compared to INR 225,350...
Russia contemplates building a domestic alumina refinery as imports from China prove to be cost-intensive
Russia is reportedly mulling building an alumina refinery to reduce its dependence on imports from China. As per a document seen by Reuters, China’s alumina exports to Russia have increased since the Russia-Ukraine conflict started. A draft of the plan for the development of Russia’s metal industry until 2030 has shown that Russia, one of the world’s leading aluminium producers, procures 65 per cent of its required alumina through imports, mostly from China, which as a result, has raised the production costs of aluminium. In addition, the output halt at Ukraine’s alumina refineries and a ban on Australia’s exports to Russia have also contributed to Russia’s aluminium production cost rise, creating supply disruption of the ore. Rusal said last month that its aluminium production cost...
AWB Aluminiumwerk’s aluminium extrusion production facility at Berlin receives ASI Performance Standard certification
Aluminium Stewardship Initiative has acknowledged AWB Aluminiumwerk Berlin GmbH’s aluminium extrusion production and mechanical process at the Berlin facility with Performance Standard V2 (2017) certification on October 6, 2022. The facility can process up to 22,000 tonnes of aluminium billets per year, destined for the use in the building and construction sector. The ASI Performance Standard certification recognises environmental, social, and governance principles and criteria, aiming to address sustainability issues in the aluminium value chain. It sets out 59 criteria under three sustainability pillars. Fiona Solomon, Chief Executive Officer at ASI, said: “ASI warmly congratulates AWB Aluminiumwerk Berlin GmbH on achieving Performance Standard Certification at its Berlin extrusion...
Alumina production in Europe (incl. Russia) reflects a 4.76% downfall M-o-M during August’22
In Europe (incl. Russia), alumina production during August 2022 stood at 660,000 tonnes, reflecting a downfall of 33,000 tonnes or 4.76 per cent month-on-month, found the International Aluminium Institute. In July’22, alumina output in Europe (incl. Russia) amounted to 693,000 tonnes, which remained muted M-o-M. On a year-on-year basis, alumina production in Europe (incl. Russia) also recorded a plunge of 254,000 tonnes or 27.8 per cent in Aug’22 from 914,000 tonnes. Europe’s (incl. Russia) daily average alumina production stood at 21,300 tonnes in August 202, down by 4.91 per cent from 22,400 tonnes and 27.8 per cent less than 29,500 tonnes. From January to August 2022, alumina output in Europe (incl. Russia) totalled 5.881 million tonnes versus 6.964 million tonnes during the...
Sibu in Sarawak, Malaysia has its first locally built fast crew boat Marine Success
Sibu, an inland city in the central region of Sarawak, Malaysia, reportedly witnessed the launch of its first locally built aluminium fast crew boat on Wednesday, October 5. The boat is named Marine Success, built by Sapor Shipbuilding Industrial Sdn Bhd at a cost of RM20 million. Ting Hua Ang, managing director of Sapor Shipbuilding, said the boat is the first of its kind, with a speed of 32 knots. He also told at the launch that the ship measures 41.5 metre in length and can carry up to 70 passengers. It is built as per the order by MS Offshore Sdn Bhd and would be used by Petronas for offshore operations. Ting Hua Ang added, “It comes with three main engines supplied by Yanmar Diesel with a horse power of 1,650 per unit, hence making it one of the fastest crew boats available thus...
Novelis & SPS partnership starts closed-loop-recycling operation
Novelis Inc., an American industrial aluminium company, specialised in making flat-rolled products (FRPs) and recycling, announced today that it initiated operations of a closed-loop-recycling with Smart Press Shop (SPS). In the partnership, Novelis supplies aluminium FRPs from its Nachterstedt plant in Germany to the Smart Press Shop and collects production scrap generated at SPS during the automotive manufacturing process to convert it into high-quality rolled sheets. This process is expected to reduce carbon emissions by up to 100,000 tonnes per year, as recycling aluminium requires 95 per cent less energy to produce than primary aluminium. SPS selected Novelis as a trusted partner in developing and implementing closed-loop recycling systems around the globe for esteemed automakers...
MCP Yachts launches its second largest all-aluminium superyacht Queen Tati
MCP Yachts, a Brazilian shipyard specialised in designing and constructing highly customised aluminium motor yachts, has reportedly launched its 37.4-metre all-aluminium superyacht Queen Tati. As per the report, the yacht is scheduled to be delivered by 2022. The vessel was designed by Vripack, including the interior, representing a ‘new superyacht era in South America,’ according to the shipyard. Queen Tati, weighing 316 gross tonnage, features a semi-displacement hull with a beam of 8.1 metre and a draft of 2.2 metre. It offers accommodation for up to 12 guests across four cabins, with quarters for a crew of eight. Queen Tati is the second largest yacht built by MCP Yachts, following the 43.76 metre Raffaella II, also designed in collaboration with Vripack. When delivered, the vessel...
Vedanta’s aluminium output records 2% growth to 584,000 tonnes during 2QFY23
On Monday, October 3, Vedanta Limited, an Indian multinational mining company, reported that its aluminium production stood at 584,000 tonnes in the second quarter of FY2023 ended September 30. That edged 2 per cent higher than 570,000 tonnes during the corresponding period of the last year. The company also reported in the filing, "First half mined metal production at 507,000 tonnes was higher by 8 per cent YoY, on account of increase in ore production, further supported by better grades and improved operational efficiency." Vedanta's production of finished steel also recorded a year-on-year rise of 11 per cent from 293,000 tonnes to 325,000 tonnes in Q2FY23. Total power sales increased to 3,615 million units (MU) during the said period from 2,905 MU a year ago.
World alumina production in August’22 dips 1.12% M-o-M to 11.943 Mt; Output in China remains muted
In August 2022, world alumina production stood at 11.943 million tonnes, reflecting a dip of 1.12 per cent month-on-month, found the International Aluminium Institute. However, the output in July recorded a monthly rise of 2.70 per cent to come in at 12.078 million tonnes. On a year-on-year basis, world alumina output in August’22 improved by 2.33 per cent from 11.671 million tonnes. From January to August, world alumina production totalled 92.463 million tonnes – 0.56 per cent less than 92.985 million tonnes a year ago. The daily average world alumina production in August 2022 was 385,300 tonnes, down by 1.1 per cent from 389,600 tonnes in July but up by 2.34 per cent from 376,500 tonnes in August 2021. In China, alumina output in August recorded a monthly restraint at 6.95 million...
LME aluminium benchmark price descends to US$2180/t after a surge day ago; SHFE is closed for National Day holiday
On Friday, September 30, LME aluminium cash bid price and LME aluminium official settlement price plunged by US$81 per tonne, following an outstanding surge on the previous day. While LME aluminium cash bid price came in at US$2,179.50 per tonne, LME aluminium official settlement price stood at US$2,180 per tonne. 3-month bid price and 3-month offer price totalled US$2,195 per tonne and US$2,197 per tonne, down by US$178 per tonne and US$181 per tonne, respectively. December 23 bid price and December 23 offer price lost 3.37 per cent and 3.36 per cent to rest at US$2,293 per tonne and US$2,298 per tonne. LME aluminium opening stock declined 1,925 tonnes to stand at 332175 tonnes. Live warrants and Cancelled warrants for the same day were recorded at 261300 tonnes and 70875 tonnes. LME...
Hindalco’s aluminium wire rod price surges by 7% with effect from September 30
Hindalco Industries’ aluminium products and aluminium ingot prices built up sharply by INR 14,750 per tonne or 7.07 per cent on Friday, September 30. That brought the company’s aluminium wire rod price to INR 223,350 per tonne versus INR 208,600 per tonne on September 28. Hindalco’s aluminium billets price came in at INR 226,350 per tonne as of September 30 compared to INR 211,600 per tonne on September 28. Aluminium ingot price also saw an increase of INR 14,750 per tonne to stand at INR 212,250 per tonne, effective from Friday. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which skyrocketed by US$181 per tonne on September 29 from US$2,080 per tonne to US$2,261 per tonne. Aluminium...
