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 South & North America reflects a monthly rise but stoops down on the year, shows IAI
In South America, alumina production surged by 73,000 tonnes or 8.1 per cent month-on-month during July 2022 to stand at 974,000 tonnes, found the International Aluminium Institute. In June, the output was at 901,000 tonnes after being slipped by 57,000 tonnes or 5.95 per cent from 958,000 tonnes in May. On a year-on-year calculation, South America’s alumina production in July 2022 edged 4.42 per cent lower than 1.019 million tonnes a year ago. Daily average production in South America during July 2022 was 31,400 tonnes, up by 1,400 tonnes from 30,000 tonnes in June but down by 1,500 tonnes from 32,900 tonnes in July 2021. Total alumina production in South America from January to July 2022 amounted to 6.607 million tonnes, reflecting a downfall of 10.30 per cent from 7.366 million tonnes...
Chalco's higher revenue from alumina and coal output lifts 1H2022 profit by 29%
Aluminium Corporation of China Limited, popularly known as Chalco, has posted higher profit for the first half of 2022 ended June 30, underpinned by increased revenue from alumina and coal production and imported coking coal business. From RMB 3.09 billion or RMB 0.176 per share of Chalco’s profit in H1 2021, it jumped to RMB 3.99 billion or 0.231 per share a year later, according to a filing last week, August 23. That was a significant year-on-year increase of 29.13 per cent. Revenue for the same period reached RMB 145.40 billion, up by 20.34 per cent from RMB 120.82 billion a year earlier, as was anticipated by analysts at RMB 146 billion in a Visible Alpha poll. Talking of each business unit, Chalco’s revenue from alumina rose to RMB 27.96 billion from RMB 24.24 billion, and that from...
Hindalco’s aluminium ingot price suffers a significant loss of INR8000/t on August 31
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from Wednesday, August 31, in line with a startling fall of the LME aluminium benchmark price. As per the price update, Hindalco’s aluminium ingot has witnessed a sharp price cut of INR 8,000 per tonne or 3.45 per cent to INR 223,750 per tonne. Aluminium wire rod price has also experienced a cut of INR 8,000 per tonne to stand at INR 234,850 per tonne on August 31 versus INR 242,850 per tonne on August 27. Suffering the same amount of loss, aluminium billet price has come in at INR 237,850 per tonne with effect from August 31, compared to INR 245,850 per tonne on August 27. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium...
China’s prebaked anode export rebounds to 200,000 tonnes level in July'22 on improved demand
China customs data revealed last week that the country’s prebaked anode export volume rebounded to the 200,000 tonnes level in July 2022, attaining 206,500 tonnes. This is the second time this year that China’s prebaked anode export has exceeded 200,000 tonnes, driven by strong demand from overseas aluminium smelters. On a month-on-month basis, the export volume in the said month edged 57.32 per cent higher, while 24.93 per cent more than a year ago. In June, China’s prebaked anode export volume stood the lowest this year at 131,000 tonnes. Yet the export price per unit elevated to a record number of US$1,316.67 per tonne. During January-July 2022, China’s total prebaked anode export volume achieved 1.22 million tonnes, reflecting a 255,500 tonnes increase over the year. Malaysia topped...
China's primary aluminium inventories attain 682,000 tonnes with a slight gain over the weekend
Social inventories of aluminium ingot across eight major Chinese consumption areas, including SHFE warrants, grew by 3,000 tonnes over the weekend to stand at 682,000 tonnes as of Monday, August 29, found the Shanghai Metals Market. But week-on-week, the inventories stood 1,000 tonnes lower than 683,000 tonnes on August 22. On Thursday, August 25, China’s primary aluminium inventories also lost 1,000 tonnes over a week to clock at 679,000 tonnes. The increase in inventories on Monday was contributed by low buying interest due to domestic price rally last week. However, going ahead, accumulation of inventories is likely to slow down as the production cut in Sichuan has affected the supply of aluminium ingots. The chart below indicates the current status of primary aluminium inventories...
Soaring energy prices coupled with stagnant economy bear red flag for aluminium industry; China initiates production cut
The high possibility of global recession and economic stagnation has already alarmed countries like China, the world’s largest consumer of primary aluminium raw materials, flagging the risk of downsized markets. China, who has been battling with increased energy costs and heat wave, previously reported some aluminium and alumina capacity cut at Sichuan and Chongqing provinces. According to a report last week, the aluminium production cut in Sichuan became intense from 395,000 tonnes to 777,000 tonnes, with mere residual capacity at 230,000 tonnes out of total installed capacity at 1.07 million tonnes. Chongqing was no exception but experienced a production cut due to high temperature, despite smelters having more dependence on thermal power, whereby heat energy is converted to electrical...
Alumina production in Africa & Asia records a monthly rise of 5% to 1.201 Mt in July’22: IAI
Alumina production in Africa & Asia (ex-China) showcased a monthly increase of 5.26 per cent in July 2022, according to the International Aluminium Institute. From 1.141 million tonnes in June, the output grew to 1.201 million tonnes in July. However, the production in June saw a downfall of 5.7 per cent month-on-month from 1.210 million tonnes. On a year-on-year calculation, alumina production in Africa & Asia (ex-China) during July 2022 recorded a hike as well by 6.76 per cent from 1.125 million tonnes, found IAI. Africa & Asia's average daily alumina production in July’22 amounted to 38,700 tonnes, up by 1.84 per cent month-on-month from 38,000 tonnes and 7.5 per cent more year-on-year than 36,300 tonnes. In the first seven months of 2022, Africa & Asia’s (ex-China) alumina output...
China’s aluminium extrusion exports improve 13% M-o-M in July 2022, with Guangdong remaining the highest exporter
According to China Customs data, the country exported 93,300 tonnes of aluminium extrusion (HS codes 76041010, 76041090, 76042100, 76042910, 76042990) in July 2022. That was 10,600 tonnes or 12.8 per cent more than the previous month and 14.3 per cent higher than a year ago. Guangdong continued as the highest exporting province, accounting for 47.4 per cent of the total volume, followed by Shandong and Fujian. While the former exported 16.7 per cent of the total volume, the latter supplied 6.7 per cent. China Customs data also showed that Jiangxi, a southeast Chinese province, registered a monthly surge of 415 per cent in aluminium extrusion exports, driven by backlog orders and long statistical cycle. The above data indicates that despite the changes in export volume, the geographical...
Vedanta expands its aluminium wire rod price for the second day in a row by 2% on August 27
Vedanta Limited continued to expand its aluminium products and aluminium ingot prices on Saturday, August 27. The company hiked its aluminium wire rod price by INR 4,750 per tonne or 2 per cent to INR 237,250- 244,750 per tonne. On August 26, the price stood at INR 232,500- 240,000 per tonne, seeing an increase of INR 2,000 per tonne on the previous day. Vedanta’s aluminium billet price also experienced a rise of INR 4,750 per tonne to INR 238,750 per tonne as of August 27 versus INR 234,000 per tonne on August 26. Aluminium ingot price is ranging between INR 229,750-259,250 per tonne, with effect from August 27, being grown by INR 4,750 per tonne from INR 225,000- 254,500 per tonne on August 26. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of...
Swiss National Bank and other investors enhance share position in Kaiser Aluminum
As per the report published recently, Swiss National Bank raised its share in Kaiser Aluminum Company, an American value-added aluminium producer, by 7.4 per cent during the first quarter of 2022. The institutional investor bought an additional 2,600 shares of Kaiser’s stocks, totalling 37,500 shares worth $3,531,000. Several other large investors also enhanced their shares holdings in Kaiser. For instance, Maryland State Retirement & Pension System boosted its position in shares by 2 per cent by buying an additional 127 shares. Thus, its total shares amounted to 6,416, valued at $604,000. Teacher Retirement System of Texas raised its stake by 6.4 per cent in Q1 by acquiring an additional 196 shares, which brought its total shares in Kaiser to 3,241, worth $305,000. Point72 Hong Kong...
North America’s primary aluminium production in July’22 continues monthly downtrend; Output in South America heightens by 8%
According to the International Aluminium Institute, primary aluminium production in North America during July 2022 continued to decline month-on-month by 6,000 tonnes or 1.92 per cent standing at 306,000 tonnes. The output in June plunged by 13,000 tonnes from 325,000 tonnes in May to 312,000 tonnes. On a year-on-year calculation, North America’s primary aluminium production in July’22 stood down significantly by 8.10 per cent from 333,000 tonnes. In the first seven months of the year (January-July), aluminium output in North America totalled 2.195 million tonnes, after being slipped by 5.10 per cent from 2.313 million tonnes during the same period last year. IAI data also showed a 4.81 per cent monthly drop in the daily average production of primary aluminium in North America from 10,400...
World alumina production in July’22 edges 3.56% higher on month to 12.152 Mt, with a marginal increase in daily output
In July 2022, world alumina production totalled 12.152 million tonnes, registering a month-on-month rise of 3.56 per cent, found the International Aluminium Institute. The output in June stood at 11.734 million tonnes, down by 2.69 per cent from 12.058 million tonnes in May. On a year-on-year basis, world alumina production edged 3.52 per cent higher than 11.739 million tonnes. However, world total alumina production in the first seven months of the year reflected a Y-o-Y downfall of 0.86 per cent from 81.132 million tonnes to 80.438 million tonnes, showed IAI data. Daily average production in July 2022 was 392,000 tonnes compared to 391,100 tonnes in June 2022 and 378,700 tonnes in July 2021. China produced 7.05 million tonnes of alumina in July 2022, 3.07 per cent more than 6.84 million...
Hindalco’s aluminium ingot price experiences an increase of INR2000/t with effect from August 26
Hindalco Industries Limited has added on INR 2,000 per tonne to its aluminium ingot and aluminium products prices, with effect from Friday, August 26. This brings the company’s aluminium wire rod price to INR 238,350 per tonne, compared with INR 236,350 per tonne on August 25. Hindalco’s aluminium wire rod price on August 25 was deducted by INR 1,750 per tonne. Hindalco’s aluminium billets price has come in at INR 241,350 per tonne, with effect from August 26, versus INR 239,350 per tonne on August 25. Aluminium ingot price has amounted to INR 227,250 per tonne as against INR 225,250 per tonne on the previous day. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which rose by US$53 per tonne...
LME aluminium price trended up this week by US$107.50/t; SHFE price accumulated US$18/t through the week
The LME aluminium benchmark price has reflected an upswing movement through the week by US$107.50 per tonne, with only an intermittent downfall. Both LME aluminium cash bid price and LME aluminium official settlement price started the week with a rise of US$11.50 per tonne or 0.48 per cent to settle at US$2,387 per tonne and US$2,387.50 per tonne. The prices grew on Tuesday by 2.14 per tonne to US$2,438 per tonne and US$2,438.50 per tonne but decreased the next day by US$16.50 per tonne to rest at US$2,421.50 per tonne and US$2,422 per tonne, respectively. On Thursday, August 25, LME aluminium cash bid price and LME aluminium official settlement price experienced a rise of US$20.50 per tonne or 0.85 per cent to settle at US$2,441.50 per tonne and US$2,442.50 per tonne. On Friday, August...
NALCO’s aluminium ingot price builds up INR4100/t on August 26 in response to LME price uptrend
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices for the first time this month on August 26, following two consecutive cuts on August 1 and August 18. NALCO has raised its aluminium ingot price by INR 4,100 per tonne or 1.8 per cent to INR 226,050-229,550 per tonne. On August 18, the price stood at INR 221,950- 225,450 per tonne, down by INR 4,700 per tonne from the previous day. NALCO’s aluminium wire rod price has also seen a hike of INR 4,100 per tonne over a week, reaching INR 229,550-233,900 per tonne on August 26 versus INR 225,450- 229,800 per tonne on August 18. Aluminium billets price has come in at INR 230,500-233,150 per tonne, accumulating the same amount over a week from INR 226,400- 229,050 per tonne. NALCO has...
Mercedes-Benz receives ASI Performance Standard certification for aluminium vehicle body production at press shops
Mercedes-Benz Group AG, a German multinational automotive corporation, has received Performance Standard V2 (2017) Certification from the Aluminium Stewardship Initiative for aluminium vehicle body and structural parts production at its five European press shops. The automobile company has bagged the certification for its unwavering focus on material stewardship for press shop operations in Kuppenheim, Sindelfingen, Bremen, Hamburg in Germany and Kecskemét in Hungary. The ASI Performance Standard certification recognises material stewardship issues such as product design, life cycle assessments, management of process scrap and collection and recycling of products at end-of-life. Alexander Knittel, Strategy and Planning BodyTEC at Mercedes-Benz AG, said: “Responsible Sustainability' is a...
Production vs Reduction: European aluminium smelters being victim to energy price surge
European aluminium smelters have once again ramped up their production cuts owing to soaring electricity prices. Since 2021, 1 million tonnes of total 4.5 million tonnes of Europe’s aluminium production capacity has been reduced, while another 500,000 tonnes is under threat, according to Citi analysts. A few weeks ago, a dramatic rise in natural gas prices was reported, showing no possibility for Europe’s inflation battle to ease. In August, gas prices have increased by almost 40 per cent and nearly 30 per cent throughout the year so far. Reuters has identified the smelters affected by the electricity price surge, mentioning their output capacity and their rate of production cut. In late December 2021, Alcoa’s San Ciprian aluminium smelter in Spain reached an agreement aimed at resolving...
Hindalco Industries’ aluminium ingot price drops by INR1750/t with effect from August 25
Hindalco Industries Limited has trimmed its aluminium ingot and aluminium products prices, with effect from Thursday, August 25, following a hike a day ago. The company has cut its aluminium ingot price by INR 1,750 per tonne to INR 225,250 per tonne. On August 24, the price was increased by INR 6,000 per tonne to INR 227,000 per tonne. Hindalco’s aluminium wire rod price has also been reduced by INR 1,750 per tonne to INR 236,350 per tonne after a hike on the previous day from INR 232,100 per tonne to INR 238,100 per tonne. Aluminium billets price has come in at INR 239,350 per tonne as of August 25, down by INR 1,750 per tonne from INR 241,100 on August 24. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London...
