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.
Hindalco’s aluminium ingot price elevates for the second time in a row by INR2250/t on August 11
Hindalco Industries Limited has raised its aluminium ingot and aluminium products prices for the second time in a row, with effect from Thursday, August 11. The company’s aluminium ingot price has accumulated INR 2,250 per tonne to come in at INR 227,750 per tonne, following a hike of INR 4,500 per tonne to INR 225,500 per tonne on August 6. Hindalco’s aluminium wire rod price has also been raised by INR 2,250 per tonne, with effect from August 11, to be sold at INR 238,850 per tonne. On August 6, the product saw an increase of INR 4,500 per tonne from INR 232,100 per tonne to INR 236,600 per tonne. Aluminium billets price stands no exception but also seen a raise of INR 2,250 per tonne to INR 241,850 per tonne, with effect from August 11. On August 6, the price stood at INR 239,600 per...
Hindalco’s Q1 PAT exceeds the previous quarter to reach a new high at INR4119 crore
On Wednesday, August 10, Hindalco Industries Limited announced its first quarter results ended June 30, posting the highest net profit once again. The company’s consolidated profit after tax (PAT) reached an all-time high at INR 4,119 crore, exceeding record performance in 4QFY2022. On a year-on-year calculation, it recorded a 48 per cent hike, while on a quarter-on-quarter 7 per cent rise. The company’s revenue from operations in the April-June period jumped to INR 58,018 crore from INR 41,358 crore during the same period last year, and consolidated EBITDA grew 27 per cent over the year to stand at INR 8,640 crore. These robust financial results were driven by an excellent operational performance by Novelis, a subsidiary of multinational aluminium manufacturing company Hindalco. Novelis’...
Vedanta’s aluminium ingot price further accumulates INR4750/t with effect from August 10
Vedanta Limited has once again added INR 4,750 per tonne to its aluminium ingot and aluminium products prices, with effect from Wednesday, August 10. On August 6, the company’s aluminium ingot and products prices also saw a rise of INR 4,750 per tonne. With the latest hike, Vedanta’s aluminium ingot price is standing at INR 228,250-257,750 per tonne versus INR 223,500- 253,000 per tonne on August 6. Experiencing a raise of INR 4,750 per tonne as well, Vedanta’s aluminium wire rod price has come in at INR 235,750- 243,250 per tonne as of August 10 against INR 231,000- 238,500 per tonne on August 6. Aluminium billet price is currently at INR 237,250 per tonne versus INR 232,500 per tonne last week. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of...
Alro achieves a turnover of RON2.1 billion with 39% increased sales, thanks to higher aluminium product demand
Alro Group, one of the largest vertically integrated aluminium producers in Europe by capacity, has booked a net profit of RON 15.3 million for the first half of 2022 ended June 30, compared to a net loss of RON 47.6 million a year ago. The Group’s turnover has increased to RON 2.1 billion during H1 from RON 1.5 billion during the same period last year, thanks to the higher demand for aluminium on the international markets and LME price hike. Aluminium demand mainly stood high in the first quarter of 2022, especially flat-rolled and extruded products. Alro’s EBITDA also recorded a rise to RON 219.6 million in H1 2022 from RON 144.4 million in H1 2021. All this could be achieved by swift and decisive measures taken at the Group’s level to mitigate the effects of continued energy price...
ASI renews Hydro Extrusions’ Performance Standard certification through May 2025
According to a report on August 10, the Aluminium Stewardship Initiative has renewed the Performance Standard Certification for Hydro Extrusions through May 2025. It covers 47 sites, of which two-thirds are certified against the ASI Chain of Custody certification. ASI Performance Standard certification recognizes responsible production, sourcing and stewardship of aluminium, while Chain of custody pre-defines requirements for aluminium production and processes through the value chain into downstream sectors. It means not only the sites and their practices are certified but also the metal they process. On the renewal of certification, Executive Vice President Paul Warton, who heads Hydro Extrusions, said: “ASI certification strengthens our competitive position in a marketplace where the...
China’s primary aluminium inventories accumulate 9,000 tonnes on August 8 as shipments from warehouses decline
On Monday, August 8, China’s social inventories of primary aluminium recorded a W-o-W hike yet again for three weeks in a row since July 25, 2022. According to the Shanghai Metals Market, inventories across eight major consumption areas, including SHFE warrants, totalled 687,000 tonnes witnessing an increase of 9,000 tonnes from 678,000 tonnes last Monday, August 1. Inventories have been growing since July-end as shipments from warehouses have remained weak, with a drop of 5,000 tonnes on a weekly basis to 128,300 tonnes last week. The chart below indicates the current status of primary aluminium inventories across China in more details: Among the major Chinese provinces, Gongyi saw the highest increase in inventories of 11,000 tonnes over week to 85,000 tonnes versus 74,000 tonnes on...
China’s July alumina output grows 3% M-o-M to 6.94 Mt but daily production dips by 800 tonnes
In July 2022 (31 calendar days), China produced 6.94 million tonnes of metallurgical-grade alumina, which increased by 2.97 per cent month-on-month and 14.11 per cent over a year. But the daily average output in the same month stood slightly down by 0.36 per cent or 800 tonnes from 224,700 tonnes to 223,900 tonnes. The production capacity was 8,171.3 tonnes, while the domestic operating rates were 87 per cent. In individual province like Shandong, alumina output was 2.12 million tonnes, flat from June 2022, attributable to tight supply of raw materials and high purchase prices, resulting in narrow profits for the refineries, due to which the operating rates rarely increased. In Henan, July alumina output rose 6 per cent M-o-M to 738,000 tonnes, while the output in Shanxi grew 2 per cent...
Century Aluminum earns a 20% higher net income in Q2 2022 amid energy & raw materials costs rally
Century Aluminum Company, a US-based primary aluminium producer, announced its second quarter 2022 results on Tuesday, August 9, reporting a 14 per cent quarter-on-quarter increase in net sales from $753.6 million to $856.6 million, attributable to higher realised LME prices and regional premiums. As a result, net income rose 19.7 per cent sequentially from $17.7 million to $37.4 million. Century Aluminum also posted a rise in its primary aluminium shipments by 1 per cent from 211,411 tonnes in Q1 to 214,084 tonnes in Q2. But the company’s Adjusted EBITDA for the second quarter of 2022 was $18.9 million down from the prior quarter to $86.6 million, driven by higher raw materials costs and energy, partially offset by higher LME and regional premiums. The second quarter was also negatively...
European aluminium foundry Gerd Röders GmbH plans to operate 24-hour shifts for three weeks to survive in gas crisis
Gerd Röders, managing director of G.A.Röders GmbH & Co KG, expertise in manufacturing aluminium die-castings from various alloys for high-quality parts, is unwillingly preparing for the temporary shutdown of foundry to survive Europe’s growing gas crunch. Röders hopes 24-hour shifts for three consecutive weeks, followed by a week shutdown, will enable the 200-year-old plant to maintain output while cutting gas bill, which has doubled since 2021 to 12.3 million euros. According to him, this plan will be a cost saving for them as it will lower the expense of gas needed to fire up the oven every morning, even if it means paying staff more to work night shifts. Survival for G.A.Röders GmbH and Germany’s 600 other foundries, most of which are small-to-medium enterprises with less than 250...
China’s aluminium output grows 7% Y-o-Y to 3.5 Mt in July’22, thanks to new capacity release
According to the Shanghai Metals Market, China’s aluminium production stood at 3.5 million tonnes in July (31 calendar days), reflecting a year-on-year increase of 6.74 per cent. That brought the total volume of output in the first seven months of the year to 23.059 million tonnes, up by 1.4 per cent over the year. In July, a rise in total domestic operating capacity of aluminium with the resumption of production and release of new capacities in Gansu and Yunnan pushed the output up. Daily output stood at 112,900 tonnes, increasing by 862 tonnes on the month and 7,113 tonnes on the year. In July, domestic proportion of aluminium liquid grew by 0.2 per cent M-o-M to 66.64 per cent. In Guangxi, however, the production resumption slowed down, while in Sichuan and Shandong, the output...
Maan Aluminium posts 43% yearly growth in net sales to INR 173.16 Cr. for 2QFY23
On Monday, August 8, Maan Aluminium, an aluminium extruded product manufacturing company, has reported a financial result for the second quarter of 2022 ended June 30, revealing year-on-year increase of 43.46 per cent in net sales to INR 173.16 crore versus INR 120.70 crore. On a quarter-on-quarter basis, net sales in June quarter grew by 34.23 per cent from INR 129 crore. Maan’s net profit in 2QFY23 stood at INR 8.40 crore, up by 61.54 per cent from INR 5.20 crore during the same period last year and 2.82 per cent more than INR 8.17 crore in 1QFY23. EBITDA during the second quarter of the year came in at INR 13.26 crore, reflecting a rise of 45.08 per cent from INR 9.14 crore in Q2 2021. However, earnings per share decreased to INR 6.21 in Q2 2022 from INR 7.69 in Q2 2021. Maan Aluminium...
Vedanta’s aluminium billet & wire rod prices witness a hike of INR4750/t after three consecutive falls
Vedanta Limited raised its aluminium products and aluminium ingot price on Saturday, August 6, after three consecutive cuts since July 30. The company added INR 4,750 per tonne to its aluminium billet price to sell the product at INR 232,500 per tonne, with effect from August 6. On August 4, the price stood at INR 227,750 per tonne, seeing a cut of INR 3,250 per tonne from the previous day. On August 6, Vedanta’s aluminium wire rod price came in at INR 231,000- 238,500 per tonne, also up by INR 4,750 per tonne from INR 226,250- 233,750 on August 4. The company’s aluminium ingot price saw an expansion of INR 4,750 per tonne as well to close at INR 223,500- 253,000 per tonne. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
Altech Chemicals reports to be in good shape with renewal of EPC contract and finances
Altech Chemicals Limited, one of the world’s leading suppliers of 99 per cent (4N) high purity alumina (HPA), has reported the updates on its Malaysian high purity alumina (HPA) project, highlighting KfW IPEX-Bank continues to render full support to the project and German government export credit agency Euler Hermes extends US$170 million loan cover. Other highlights include EPC contractor SMS group renews support to the HPA project and Altech is still working with Perth-based markets group Bluemount Capital to secure the USD$144million green bond offer. Altech has also apprised that project level equity funding is being advanced by the US based DelMorgan and Managing Director Iggy Tan, accompanied by executive management, has completed a visit to Europe. During the visit, Iggy Tan met...
Ball Corporation plans to close its St. Paul aluminium beverage cans facility
On Thursday, August 4, Ball Corporation, the world’s leading sustainable aluminium packaging provider, officially declared its plans to shut down beverage cans plant located on Saint Paul’s West Side. The company also announced that the tentative time of ending the operations at St. Paul would be next spring, and it would lay off about 110 workers. Another aluminium beverage cans plant operated by Ball is closing in Phoenix, Ariz., while the construction of a new facility in Nevada is getting delayed. All this is due to the "deceleration of customer demand resulting from significant retail pricing actions by customers to pass through inflationary costs to consumers, particularly in the U.S," said Ball in a news release. St. Paul’s aluminium can production will be moved to other Ball...
China’s aluminium foil battery production is on a steep rise yet struggling to match demands in the EV industry
According to the Shanghai Metals Market review, China produced 128,000 tonnes of lithium-battery aluminium foil (battery foil) in 2021, which accounted for nearly 2.8 per cent of the country’s total aluminium foil output and registered a year-on-year surge of 83 per cent. This prodduction hike could be attributed to the commissioning of new battery foil capacities at a fast pace last year. Currently, there are reportedly 15 battery foil projects under construction, which are estimated to come into operation between 2022 and 2025, with a total capacity of 592,000 tonnes. In addition, some existing gauge foil producers are contemplateing to convert their capacities into battery foil production. Battery foil has the largesr use in new energy vehicle power battery, followed by energy storage...
Hindalco back-to-back cuts aluminium wire rod & billets prices by INR3000/t on August 4
Hindalco Industries Limited back-to-back reduced its aluminium products and aluminium ingot prices, with effect from August 4, following a slash of INR 4,250 per tonne on August 3. On August 4, the company cut its aluminium wire rod price by INR 3,000 per tonne or 1.28 per cent to stand at INR 232,100 per tonne versus INR 235,100 per tonne on the previous day. Hindalco’s aluminium billets price also saw a trim of INR 3,000 per tonne on August 4 to come in at INR 235,100 per tonne, compared to INR 238,100 per tonne on August 3. Aluminium ingot price was no exception but saw a cut by the same amount from INR 224,000 per tonne to INR 221,000 per tonne as of August 4. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
LOTTE Aluminium to build an aluminium cathode foils facility in Kentucky with $238.7 million investment
LOTTE Aluminium, a Seoul-headquartered diverse aluminium products manufacturer, will reportedly build an aluminium foil producing plant in Hardin County, Kentucky. The project will involve an investment of $238.7 million and create 122 full-time jobs. The news came on Thursday, August 4, after Kentucky Governor Andy Beshear announced the new upcoming facility, adding that the aluminium foil to be produced there would be used for electric vehicle batteries. The facility will be located near the BlueOvalSK Battery Park in Hardin County, where Ford Motors and SK Innovation are investing $5.8 billion to set up electric vehicle battery manufacturing plants. “I want to welcome LOTTE to Kentucky as we continue to see significant investment from EV-related businesses across the state,” Beshear...
Alumina production in South America contracts M-o-M to 901,000 tonnes in June’22; output in North America hikes by 9%
According to the Indian Aluminium Institute data, alumina production in South America shrank by 5.95 per cent or 57,000 tonnes month-on-month to 901,000 tonnes in June 2022. But in May, the monthly output edged 3.03 per cent higher M-o-M from 929,000 tonnes. On a year-on-year calculation, South America's alumina output in June 2022 registered a downfall of 11.58 per cent from 1.019 million tonnes. Thus, in the three-month time (April-June), total production of alumina in South America amounted to 2.788 million tonnes, down by 2 per cent quarter-on-quarter from 2.845 million tonnes. On a year-on-year basis, the output recorded a fall as well by 12.63 per cent from 3.191 million tonnes. In the first half of 2022, alumina production in South America totalled 5.633 million tonnes – 16.95 per...
