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.
Rio Tinto announces a 4% Q-o-Q rise in bauxite production to 14.1 Mt in 2Q2022, attributing to strong operations at Weipa
Rio Tinto Group, an Anglo-Australian multinational metals and mining company, has announced the second quarter results of 2022, revealing a 4 per cent quarter-on-quarter increase and a 3 per cent year-on-year rise in bauxite production to 14.1 million tonnes. According to the mining group, total production of bauxite during the first half of the year ended June 30 came in at 27.8 million tonnes – 2 per cent more than the previous year. Rio Tinto has attributed the growth in bauxite production to the strong operational performance at Weipa as a result of improved plant reliability at Amrun. Rio Tinto’s aluminium output in Q2 2022 was 731,000 tonnes after being inched down by 1 per cent from 1Q2022 and shrunk by 10 per cent from 2Q2021. Total output in the first six months of the year also...
NALCO’s aluminium prices undergo a revision after two weeks; ingot price falls by INR1700/t to INR221,750-225,250/t
After almost two weeks and close observation to the fluctuating LME aluminium price trend, NALCO revised its aluminium ingot and aluminium products prices on July 8. As per the price chart revealed, NALCO slightly cut its aluminium ingot price by INR 1,700, following two consecutive significant strokes last month. The company’s aluminium ingot price is now ranging between INR 221,750-225,250 per tonne versus INR 223,450-226,950 per tonne on June 21. NALCO’s aluminium wire rod price is also reduced by INR 1,700 per tonne from INR 225,950-230,300 per tonne on June 21 to INR 224,250-228,600 per tonne on July 8. Aluminium billets price also saw a cut of INR 1,700 per tonne to stand at INR 225,200-227,850 per tonne. On June 21, the price came in at 226,900-229,550 per tonne, seeing a downfall...
Hydro initiates expansion of aluminium recycling plant in Germany to produce 25,000 tonnes of HyForge billet
On Friday, July 8, Hydro announced that it broke ground this week to mark the start of the expansion work of its aluminium recycling plant in Rackwitz, Germany. The project will require around EUR 40 million of investment to produce 25,000 tonnes of HyForge per year, increasing the use of post-consumer, end of life scrap. Eivind Kallevik, Executive Vice President for Hydro Aluminium Metal, said: “With more automotive customers putting emphasis on sustainability, we are taking this break through step at Rackwitz to produce aluminium HyForge products, resulting in even smaller diameter billets, while ensuring a best-in-class climate footprint by using a high share of post-consumer scrap in the process." He added, "The business case shows that it is not only profitable, but it also has an...
LME aluminium price oscillated through the week ending lower at US$2399.5/t; SHFE price closed at US$2758/t
LME aluminium benchmark price displayed an oscillating trend this week, ending lower on Friday, July 8. LME aluminium cash bid price and LME aluminium official settlement price started at US$2,431 per tonne and US$2,431.50 per tonne as of Monday, July 4, seeing an increase of 2 per cent from the previous day. Next day, on July 5, the prices slumped by US$59 per tonne and US$57.50 per tonne, respectively, to come in at US$2,372 per tonne and US$2,374 per tonne. The prices decreased further on July 6 to US$2,357 per tonne and US$2,358 per tonne but grew the next day by 2.5 per cent to settle at US$2,416.50 per tonne and US$2,417.50 per tonne, respectively. However, on Friday, LME aluminium cash bid price and LME aluminium official settlement price shrank by US$17.50 per tonne and US$18 per...
Vedanta’s aluminium business to reap benefits from its investment in Athena power plant
On Thursday, July 7, Vedanta Limited officially announced that it would acquire a 100 per cent stake in debt-ridden Athena Chhattisgarh Power Limited for INR 564.67 crore. The mode of payment is most likely to be cash, and the transaction is expected to complete in FY2022-23. The news came after the company said in a regulatory filing, "Vedanta Limited to acquire 100% of the paid-up capital of Athena Chhattisgarh Power Limited." The investment in 1200MW thermal power plant will be beneficial for Vedanta’s aluminium business as the latter would be able to secure required electricity for smelting at cheaper cost. Athena power plant is located at Jhanjgir Champa district, Chhattisgarh, India, at a distance of nearly 80 Km from BALCO and 180 Km from Jharsuguda. The power plant has two units...
China’s aluminium processing enterprises witness a fall in operating rate by 0.2 percentage point despite stable wire & cable production
According to the Shanghai Metals Market, the average operating rate at China’s major aluminium processing enterprises has slipped by 0.2 percentage point this week ending on July 8, to stand at 66.5 per cent. Aluminium wire and cable was the only sector that recorded a growth in operating rate as the companies ramped up production and deliveries, fearing restriction on transportation amid the COVID-19 outbreak in Wuxi. The average operating rate at large wire and cable companies has increased by 1.4 percentage points to 58.4 per cent. Aluminium wire and cable companies are estimated to maintain stable production buoyed by scheduled delivery to ultra-high voltage projects, while the operating rate of other downstream sectors will continue to fall. The operating rate in the primary and...
Vedanta escalates its aluminium ingot selling price by 2% to INR 220,500-252,000/t on July 8
Vedanta Limited has escalated its aluminium ingot and aluminium products prices with effect from Friday, July 8, following two consecutive days of cut on July 6 & 7. As per the price chart revealed, Vedanta has hiked its aluminium ingot price by INR 4,250 per tonne or 1.97 per cent to INR 220,500-252,000 per tonne on July 8. On July 7, the ingot price stood at INR 216,250-247,750 per tonne, seeing a decline of INR 2,750 per tonne from the previous day. Vedanta’s aluminium wire rod price has also been increased by INR 4,250 per tonne from INR 223,750- 231,250 per tonne on July 7 to INR 228,000–235,500 per tonne on July 8. Aluminium billet price has come in at INR 229,500 per tonne versus INR 225,250 per tonne on July 7. Vedanta Limited links its aluminium ingot and aluminium products...
Hydro installing a new 12-inch, more advanced extrusion press at Tønder plant to boost auto components production
Hydro is reportedly investing NOK 300 million (EUR 29 million) in a new 12-inch, state-of-the-art extrusion press at its Tønder plant in Denmark to boost production capacity and capability to make extrusions with large cross-sections for automotive Tier-1 suppliers and automotive OEMs. Hydro’s Tønder extrusion plant is an integral part of automotive network as it supplies high-end components to European carmakers. Senior vice president of Hydro’s Extrusion Europe business unit, Bruno D’hondt, said: “We are expecting rapid growth in the automotive industry’s use of extruded aluminium components in the coming years. This is in line with our strategy of lifting profitability and driving sustainability in our automotive business.” As per the report, the new press at Tønder plant will share...
Primary aluminium inventories decline 11,000 tonnes W-o-W as downstream purchase grows on price fall
According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 11,000 tonnes week-on-week across China's eight major consumption areas, following a restraint over the weekend on Monday, July 4. As per the SMM data, inventories as of July 7 have come in at 723,000 tonnes versus 734,000 tonnes on June 30. Decline in inventories this week has primarily been contributed by Wuxi as some downstream buyers increased purchase on primary aluminium price fall to around RMB 18,000 per tonne over the past two days. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have plummeted by 19,000 tonnes week-on-week to come in at 245,000 tonnes, followed by a dip of 1,000...
Canyon’s bankable feasibility study reveals 176 billion FCFA financing for Minim Martap bauxite project infrastructure
The Australian mining company Canyon Resources has reportedly revealed a bankable feasibility study of world-class Minim Martap bauxite project in Cameroon. The study was carried out by Canyon’s strategic partner MCC-CIE, covering details of funding for various aspects of the project. One of the aspects is project realization, the study of which evaluates the financing of 176 billion FCFA. This amount will be used for the development of infrastructure on the mining site, the development of internal railway line, and the financing of road transport, among others. The plan is to increase the sizes of trains for the transport of bauxite, with a length of 600 to 1200 metre per train, acquire new wagons and locomotives, and then transfer to the operator Cameroon Railways at the end of the...
Chinese PV mounting system developer Enerack offers new solar, aluminium alloy carport solution
Chinese PV mounting system developer Enerack has unveiled a solar carport solution made of aluminium alloy of the type AL6005-T5, specially designed for shopping centres, gas solutions, public parking lots and private homes. The primary market of Enerack’s solar carport solution is Europe. Earlier, the company sold its PV mounting system in the Middle East, South Africa, Panama, Guatemala and Chile, said designer and business developer Ivan Yordanov. The new carport is capable to host all types and sizes of solar panels with dimensions of up to 2,280 mm x 1,133 mm x 35mm. It has a longitudinal sink rail that can catch water from the horizontal gap between the solar module. Solar panels are installed at a distance of 1 mm so to keep the water of the sink as much as possible, said Yordanov....
AkzoNobel signs deal to take over Lankwitzer’s aluminium liquid wheel coating business
AkzoNobel, a Dutch multinational company specialised in making paints and performance coatings for both industry and consumers worldwide, has reportedly reached an agreement to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. This will enable the former to supply a comprehensive liquid and powder aluminium wheel coating to customers. “Acquiring this attractive business will complement our existing powder coatings portfolio and expand the range of innovative products we supply,” explained Michael Friede, AkzoNobel’s Chief Commercial Officer – Performance Coatings. He further said: “We’ll be able to provide a comprehensive liquid and powder aluminum wheel coating offering to customers, becoming a one-stop-shop for the wheels industry, which will significantly...
Hindalco chops its aluminium ingot and products prices by INR4750/t on July 6
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from July 6, following a hike on the previous day. Hindalco has axed its aluminium ingot price by INR 4,750 per tonne or 2.12 per cent to INR 219,000 per tonne. On July 5, the company’s ingot price stood at INR 223,750 per tonne, witnessing a rise of INR 3,000 per tonne. Hindalco’s aluminium wire rod price has also been cut by INR 4,750 per tonne on July 6, following an increase of INR 3,000 per tonne on July 5. Therefore, the wire rod price as of July 6 has come in at INR 230,100 per tonne as against INR 234,850 per tonne on the previous day. Hindalco’s aluminium billets price has undergone a cut of INR 4,750 per tonne on July 6 to INR 233,100 per tonne versus INR 237,850 per tonne on...
Jindal Aluminium narrates its 50 years of success through new logo design
Jindal Aluminium has reportedly launched a new logo and brand identity, which reflects the journey of its transformation and growth story for over 50 years. The new logo design has a legacy ring and a glyph that sports the company name. The logo symbolises timelessness, integrity and perfection, using a shade of aluminium on the legacy ring. The glyph element represents the company’s foundation and its commitment to quality and trust. The logo also contains the name of the organisation, a testament of stability and consistency. Pragun Jindal Khaitan, Vice-Chairman and Managing Director, Jindal Aluminium, said: “Our new logo and brand identity are in line with how the organisation has grown across five decades. Our approach over all these years has been to follow a bold and synergetic...
Vedanta increases its aluminium wire rod price by INR3000/t w.e.f. July 5 as LME price grows over the weekend
Vedanta Limited has increased its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, July 5. The company expanded its aluminium wire rod price by INR 3,000 per tonne to INR 231,000- 238,500 per tonne versus INR 228,000- 235,500 per tonne on July 1. Vedanta’s aluminium billet price also underwent a hike of INR 3,000 per tonne from INR 229,500 per tonne on July 1 to INR 232,500 per tonne on July 5. Aluminium ingot price showed no exception but recorded a rise of INR 3,000 per tonne from INR 220,500-253,500 per tonne to INR 223,500-256,500 per tonne. Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which grew over the weekend by US$47.50 per tonne to...
Hindalco and Vedanta wish to join CIL’s greenfield aluminium project as equity partners
Indian aluminium giants like Hindalco and Vedanta have shown interest in joining hands with Coal India Limited as equity partners for the proposed integrated greenfield aluminium project in Odisha. The news comes on Wednesday, July 6, after two officials aware of the matter reported, stating that several other companies in West Asia have also responded to CIL’s interest (EoI) for equity partners invitation in the greenfield project. As per the report, the project will include bauxite mining, alumina refinery, primary aluminium production, and an associated coal preparation plant. One of the two officials said: “Most domestic companies are interested, including Vedanta and Hindalco, as equity partners,” one of the two officials said on condition of anonymity. “During the pre-bid...
Primary aluminium inventories in China stop destocking this weekend from 734,000 tonnes
According to the Shanghai Metals Market, social inventories of primary aluminium in China recorded a restraint this weekend, ending July 4, at 734,000 tonnes. After continued declines since June 21, primary aluminium inventories displayed no change over the weekend across eight major consumption areas, including SHFE warrants. Last Thursday, June 30, primary aluminium inventories came in at 734,000 tonnes, seeing a downfall of 17,000 tonnes week-on-week. However, some Chinese provinces have witnessed a few changes in inventories this weekend, such Wuxi, Nanhai, Gongyi and others. The chart below indicates the current status of inventories across China in more details: Gongyi has seen a hike of 6,000 tonnes over the week in primary aluminium inventories to 103,000, while the inventories in...
Alumina production in Europe improves 6% M-o-M in May’22 but declines by 19% on year to 722,000 tonnes
Alumina production in Europe (incl. Russia) stood at 722,000 tonnes during May 2022, which registered an increase of 39,000 tonnes or 5.71 per cent month-on-month, found the International Aluminium Institute. However, in April, alumina production in Europe plunged by 86,000 tonnes or 11.18 per cent M-o-M from 769,000 tonnes to 683,000 tonnes. On a year-on-year calculation, alumina production in Europe (incl. Russia) during May 2022 recorded a sharp decline of 19.06 per cent from 892,000 tonnes. From January-May 2022, alumina output in Europe (incl. Russia) totalled 3.835 million tonnes, down by 10.96 per cent from 4.307 million tonnes during the same period last year. Of the total production of alumina in Europe during May 2022, metallurgical-grade output was 551,000 tonnes, up by 6.37...
