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 cuts its aluminium ingot price by INR4700/t in line with the downsize of LME aluminium price
National Aluminium Company Limited (NALCO) has further reduced its aluminium ingot price since the last trim more than two weeks ago. On Thursday, August 18, the company's aluminium ingot price witnessed a cut of INR 4,700 per tonne to INR 221,950- 225,450 per tonne versus INR 226,650-230,150 per tonne on August 1. NALCO’s aluminium wire rod price has also suffered a loss of INR 4,700 per tonne on Thursday, August 18. Thus, the price has come in at INR 225,450- 229,800 per tonne against INR 230,150-234,500 per tonne on August 1. NALCO’s aluminium billets price is currently hovering around INR 226,400- 229,050 per tonne versus INR 231,100-233,750 per tonne on August 1. NALCO has continued to cut its aluminium ingot and aluminium products prices in response to the downward trend in...
Rule change by Electricity Authority disallows the Tiwai Point aluminium smelter to renew 150MW power contract
After a surprise evaluation of the New Zealand power market, the Electricity Authority has decided to restrict power companies from signing large power deals with customers unless certain conditions are met. This is applicable to energy supply contracts of more than 150 megawatts, meaning power companies would not be allowed to strike a new power supply deal with the Tiwai Point aluminium smelter, without prior approval. Authority spokesman Sean Martin explains the Tiwai smelter’s power contract is the only one above 150MW and, therefore, requires the authority’s approval for renewal. The authority’s market policy manager Andrew Doube has explained that this measure has been taken in response to the average household paying above $200 more than they should pay for electricity each year...
Hindalco continues to reduce its aluminium ingot price by INR5500/t with effect from August 18
Hindalco Industries Limited has further slashed its aluminium ingot and aluminium products prices, with effect from Thursday, August 18, following a dip last week, August 13. Hindalco’s aluminium ingot price has been reduced by INR 5,500 per tonne or 2.4 per cent to INR 223,500 per tonne. On August 13, the price stood at INR 229,000 per tonne, down by INR 1,750 per tonne from the previous day. Hindalco’s aluminium wire rod price has also experienced a cut of INR 5,500 per tonne on August 18 to come in at INR 234,600 per tonne versus INR 240,100 per tonne on August 13. The current price cut has brought the company’s aluminium billets price to INR 237,600 per tonne, down by INR 2.26 per cent from INR 243,100 per tonne last week. Hindalco Industries links its aluminium ingot and aluminium...
Vishay Intertechnology enhances its snap-in power aluminium capacitators with higher rated voltage
Vishay Intertechnology, Inc., an American manufacturer of discrete semiconductors and passive electronic components, has reportedly added a higher rated voltage of 570V and a category voltage of 475V to its Vishay BCcomponents 193 PUR-SI Solar series of snap-in power aluminium capacitators. The devices, suitable for solar applications, enable operation up to 600V at specific conditions and provide long useful life and high-rated ripple current up to 2.46A at 105C and 100Hz. With higher voltage of 570V, the devices will provide a maximum operating temperature of +60C and endurance of 5000 hours, with no ripple current applied. At 475V, the maximum operating temperature can be extended to +150C for 6000 hours. Since the devices become capable to fulfil the open-circuit voltage condition up...
BALCO achieves a name as India’s iconic aluminium producer through a 58-year journey of dedication & commitment
This year India has celebrated ‘Azadi ka Amrit Mahotsav’, commemorating the completion of 75 years of its independence. This milestone in our national history has paved the way for an Industrial Revolution within our nation, founded on the dreams of the architects of independent India to make it one of the leading countries in the field of science and technology. This has resulted in the establishment of numerous industrial units through the support and partnership of different countries. The genesis of BALCO is written in this journey of India’s Industrial Revolution. BALCO is one of the earliest industries conceived as an agent of change in making India self-reliant by the country’s first Prime Minister, Pandit Jawaharlal Nehru. Bharat Aluminium Company Limited (BALCO), India’s iconic...
Vedanta’s aluminium ingot price experiences a raise of INR4500/t after two consecutive declines
After two consecutive cuts on August 13 and August 16, Vedanta Limited has raised its aluminium ingot and aluminium products prices on Wednesday, August 17. The company’s aluminium ingot price has accumulated INR 4,500 per tonne to hover around INR 224,500-254,000 per tonne versus INR 220,000-249,500 per tonne on August 16. Vedanta’s aluminium wire rod price has also witnessed an increase of INR 4,500 per tonne to stand at INR 232,000-239,500 per tonne. On August 16, the company's billet price was reduced by INR 6,750 per tonne to INR 227,500-235,000 per tonne. With today’s hike, Vedanta’s aluminium billet price has come in at INR 233,500 per tonne, compared to INR 229,000 per tonne on the previous day. Vedanta links its aluminium ingot and aluminium products prices to the three-month...
US aluminium scrap exports to Malaysia sprint to reach 24,100 tonnes in April’22
The United States’ aluminium scrap exports to Malaysia skyrocketed in April 2022 standing at 24,100 tonnes, found the US Census Bureau data. On a month-on-month calculation, the exports registered a surge of 802.62 per cent from 2,670 tonnes. In the first three months of 2022, the United States aluminium scrap exports to Malaysia remained range-bound, recording at 3,400 tonnes in January, which declined the next month by 45 per cent to 1,870 tonnes. In March, the exports grew by 27.34 per cent over a month to amount 2,670 tonnes. The United States aluminium scrap exports to Malaysia totalled 7,940 tonnes in the first quarter of 2022. In four-month period, the United States aluminium scrap exports to Malaysia added up to 32,040 tonnes. The United States total aluminium scrap exports in...
China’s aluminium billets operating rate drops for the second month to 71.3%, driven by poor demand among extruders
The average operating rate of aluminium billet producers in China fell for the second consecutive month by 0.99 percentage point month-on-month, driven by the downfall in operations in east China, northwest China, and southwest China. According the Shanghai Metals Market data, China's domestic aluminium billets operating rate stood at 71.3 per cent in July 2022. Only in north China, the operating rate increased, while that in central and south China remained flat M-o-M. According to SMM survey, the production of aluminium billets rebounded in Inner Mongolia during July 2022 as some of the aluminium billet plants resumed operations that were suspended for maintenance in June. Some aluminium billets plants had also cut operations due to limited supply of molten aluminium in May and June....
US domestic primary aluminium production reflects a monthly growth of 2.44% to 84,000 tonnes in May’22
In May 2022, the United States domestic primary aluminium production stood at 84,000 tonnes, reflecting a month-on-month increase of 2,000 tonnes or 2.44 per cent, found the US Census Bureau data. On a year-on-year calculation, the output in May 2022 edged 12 per cent or 9,000 tonnes higher than 75,000 tonnes. The average daily production in May 2022 was 2,700 tonnes, essentially unchanged compared to 2,740 tonnes in the previous month but 12.03 per cent higher than 2,410 tonnes during the same period last year. Total aluminium recovered from scrap in May 2022 was 292,000 tonnes, 1.4 per cent or 4,000 tonnes more than 288,000 tonnes in April 2022 and 13.62 per cent or 35,000 tonnes higher than 257,000 tonnes in May 2021. Of this, 162,000 tonnes of aluminium was recovered from new scrap...
China’s primary aluminium inventories continue to grow over weekend standing at 698,000 tonnes
According to the Shanghai Metals Market, China’s social inventories of primary aluminium ingot across eight major consumption areas, including SHFE warrants, accumulated 5,000 tonnes over the weekend to stand at 698,000 tonnes as of Monday, August 15. But compared to the same period last year, the inventories edged 44,000 tonnes lower, found the SMM data. On Thursday, August 11, inventories stood at 693,000 tonnes across China, building up 15,000 tonnes over a week and 6,000 tonnes from Monday, August 8. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi, primary aluminium inventories rose 15,000 tonnes over the weekend ended August 15 to stand at 105,000 tonnes, while inventories in Tianjin inched up by 1,000 tonnes to...
Vedanta cuts aluminium wire rod & billet prices for the second time in a row by INR6750/t on Aug. 16
Vedanta Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, August 16. The company has slashed its aluminium wire rod price by INR 6,750 per tonne to sell the product at INR 227,500-235,000 per tonne. On August 13, Vedanta’s aluminium wire rod price saw a previous cut of INR 2,000 per tonne to INR 234,250- 241,750 per tonne. On August 16, Vedanta’s aluminium billet price has also experienced a slash of INR 6,750 per tonne to stand at INR 229,000 per tonne versus INR 235,750 per tonne on August 13. Aluminium ingot price is hovering around INR 220,000-249,500 per tonne as of August 16, as against INR 226,750-256,250 per tonne on the previous week. Vedanta links its aluminium ingot and aluminium products prices to the...
ASI certifies Mozal’s Maputo aluminium smelter against Performance Standard Certification
Mozal SA, a primary aluminium smelter, has bagged the Aluminium Stewardship Initiative Performance Standard Certification with Provisional status for its smelting operation and related port facilities at Maputo. The smelter, located just outside the capital Maputo, a major industrial place in Mozambique, is operated by South32 and has an annual output of over a half a million tonnes. South32 owns 47.1 per cent of Mozal Aluminium, Mitsubishi Corporation Metals holds 25 per cent, Industrial Development Corporation of South Africa Limited 29 per cent, and the Government of the Republic of Mozambique 3.9 per cent. The ASI Performance Standard sets environmental, social and governance principles and criteria, with the aim to address sustainability issues in the aluminium value chain. It...
China’s primary aluminium output reaches new monthly high at 3.43 million tonnes in July 2022
According to the data released by the National Bureau of Statistics on Monday, August 15, China’s primary aluminium output rose 5.6 per cent year-on-year to reach a monthly high at 3.43 million tonnes in July 2022. The previous high was 3.42 million tonnes achieved in May. The new milestone could be attributed to the ramping up of production on the ease of power restrictions. In China, both production and consumption activities at primary aluminium smelters have picked up in recent months. Also, in provinces like Yunnan and Gansu, new capacities have come in to operations. The picture was different last year when Yunnan province and other southern regions limited power usage due to severe dearth of supply and to reduce pollution. Outside of China, aluminium production was cut amid a surge...
Alumina spot price in China dips by RMB3/t to stand at RMB2956/t; A00 aluminium ingot price plummets by RMB440/t
The average alumina spot price in China has further dropped over the weekend by RMB 3 per tonne to stand at RMB 2,956 per tonne as of Monday, August 15, found the Shanghai Metals Market. In Shandong, alumina price has plunged by RMB 20 per tonne to start the week at RMB 2,950 per tonne, with average prices likely to range between RMB 2,870 per tonne and RMB 3,030 per tonne. However, other provinces have witnessed no change in the average alumina spot price. The Australian alumina FOB price in China has built up by US$7 per tonne on August 15 to settle at US$333 per tonne after a decrease of USS$4 per tonne to US$326 per tonne on Friday, August 12. A00 aluminium ingot price has plunged by RMB 440 per tonne to come in at RMB 18,230 per tonne on August 15. The average prices are estimated to...
LME aluminium price moved high to US$2468.5/t despite intermittent declines; SHFE price accumulated US$86/t this week
The LME aluminium benchmark price moved high this week by US$33 per tonne but started the week with a decline and also displayed an intermitted drop. LME aluminium cash bid price and LME aluminium official settlement price decreased by US$12 per tonne on Monday, August 8, to stand at US$2,435 per tonne and US$2,435.50 per tonne, respectively. Next day, on August 9, the prices climbed up by 2 per cent and rested at US$2,487 per tonne and US$2,488 per tonne. On Wednesday, August 10, LME aluminium cash bid price shrank by US$25 per tonne to stand at US$2,462 per tonne, while LME aluminium official settlement price slipped by US$25.50 per tonne to settle at US$2,462.50 per tonne. On August 11, the prices built-up by US$34 per tonne and US$35.50 per tonne to come in at US$2,496 per tonne and...
Vedanta’s aluminium ingot price builds up by INR3000/t on August 12 after a cut on the previous day
Vedanta Limited has revised its aluminium products and aluminium ingot prices for the three consecutive days this week since August 10. Following the price growth on Wednesday, August 10, Vedanta trimmed its aluminium ingot price by INR 2,500 per tonne the next day, August 11, to INR 225,750-255,250 per tonne. But on August 12, the company again raised the price by INR 3,000 per tonne to INR 228,750-258,250 per tonne. Vedanta’s aluminium wire rod price also witnessed a hike of INR 3,000 per tonne on Friday, August 12, to come in at INR 236,250- 243,750 per tonne, following a cut of INR 2,500 per tonne to INR 233,250-240,750 per tonne on August 11. Aluminium billet price came in at INR 237,750 per tonne on Friday, up by INR 3,000 per tonne from INR 234,750 per tonne on August 11. Vedanta...
Rusal declares revenue growth to US$7153 million during 1H2022; operational performance turns weak
On Friday, August 12, Rusal, the Russian aluminium giant announced its H1 2022 operational and fiscal results ended June 30, reporting a 1.2 per cent increase in primary aluminium output to 1.89 million tonnes versus 1.87 million tonnes during the same period last year. But the sales of primary aluminium and aluminium alloys declined by 11.9 per cent year-on-year from 2 million tonnes to 1.76 million tonnes. As far as the production of raw materials is concerned, both bauxite and alumina output has registered a decline for H1 2022 by 11.8 per cent and 19.6 per cent, respectively. According to the data released by Rusal, bauxite production decreased year-on-year from 7.64 million tonnes to 6.74 million tonnes, while alumina output shrank from 4.1 million tonnes to 3.3 million tonnes....
Alba announces 127% jump in net profit for 1H2022 despite flat sales volume, thanks to higher LME prices
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter outside China, announced its Q2 and H1 2022 fiscal results on Thursday, August 11, reporting a 97 per cent surge in net profit to BD181.9 million versus BD92.7 million during the corresponding period of the previous year. Gross profit for Q2 was BD208 million, compared to BD123.7 million a year ago. The total comprehensive income for Q2 also elevated by 123 per cent year-on-year from BD90.7 million to BD201.9 million, and the revenue grew by 41 per cent from BD370 million to BD520.4 million. In the first half of 2022, Alba’s net profit registered a hike of 127 per cent Y-o-Y to stand at BD328.7 million versus BD144.8 million for the same period in 2021. Gross profit escalated by 89 per cent from BD204.2 million to...
