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.
Vedanta’s aluminium billet and wire rod prices slump by 3% on June 17 as LME price falls to the edge of US$2500/t
Vedanta Limited cuts its aluminium products and aluminium ingot prices, with effect from Friday, June 17, marking the third consecutive fall of prices since June 11. The company’s aluminium billet price has seen a deduction of INR 7,750 per tonne or 3.18 per cent to INR 235,750 per tonne as of June 17. The price on June 14 was at INR 243,500 per tonne, seeing a downfall of INR 8,000 per tonne. Vedanta’s aluminium wire rod price also experienced a cut of INR 7,750 per tonne to INR 234,250- 241,750 per tonne, as against INR 242,000- 249,500 per tonne after losing INR 8,000 per tonne on June 14. Aluminium ingot price is no exception but seen a decline to 226,750- 259,750 per tonne, from INR 234,500- 267500, as shown by Vedanta’s latest price chart. Vedanta Limited links its aluminium ingot...
NALCO repeats the cut of INR10300/t from its aluminium ingot & products prices with effect from June 16
National Aluminium Company Limited (NALCO) has again slashed INR 10,300 per tonne like last week from its aluminium ingot and aluminium products prices, marking the third consecutive cut since May 28. With effect from June 16, NALCO’s aluminium ingot price came in at INR 233,650-237150 per tonne versus INR 243,950 – 247,450 per tonne on June 8. NALCO’s aluminium wire rod price has also witnessed a cut of INR 10,300 per tonne, with effect from June 16, to stand at INR 236,150-240,500 per tonne. A week ago, the price hovered around INR 246,450 – 250,800 per tonne. Aluminium billets price stood at INR 237,100-239750 per tonne as of June 16, seeing the same amount of cut from INR 247,400 – 250,050 per tonne last week. NALCO links its aluminium ingot and aluminium products prices to the...
Decline rate in China’s primary aluminium inventories increases W-o-W totalling 785,000 tonnes on June 16
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a sharp decline of 68,000 tonnes week-on-week. Therefore, as of Thursday, June 16, the inventories totalled 785,000 tonnes, which in comparison with Monday, June 13, dwindled by 40,000 tonnes. Last week, on June 9, primary aluminium inventories fell by 29,000 tonnes from the earlier week across eight major consumption areas, including SHFE warrants, to come in at 853,000 tonnes. This reflects an increased rate of downfall in inventories, attributing to the active transactions amid falling aluminium prices. The chart below indicates the current status of primary aluminium inventories across China in more details: Among eight major Chinese provinces, Wuxi experienced the highest fall on June 16, as...
Dudley’s Aluminium wins new contract from award-winning Beard Construction
Dudley’s Aluminium, a Cardiff-based aluminium fabricator, has reportedly bagged a project from a multi-award-winning construction company Beard Construction to install AluProf capped curtain walling, silicone glazed curtain walling, and windows and doors in the extension to the office development at Bristol. As per the contract signed, Dudley’s Aluminium will install fire-rated windows and doors as well as automatic entrance doors to the building. Colin Shorney, Managing Director at Dudley’s Aluminium, has expressed his elation to work with Beard Construction for the first time. ““This is our first project with Beard Construction, and we hope it is the start of a long and fruitful partnership with the company.” Colin added, “We are thrilled to be a part of this project in the heart of...
China’s A00 aluminium ingot price further escalates to RMB 20160/t; Aluminium powder price inches up by RMB0.10/kg
A00 aluminium ingot price in China has extended its rise for the second day in a row by RMB 90 per tonne to RMB 20,160 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,140 per tonne and RMB 20,180 per tonne, with spot contract to be traded at a discount price of 20 and a premium price of RMB 20 per tonne. In Foshan, the primary aluminium ingot price has recorded a maximum hike of RMB 150 per tonne to RMB 20,210 per tonne, followed by the increase of RMB 80 per tonne in Wuxi to RMB 20,170 per tonne. In Hangzhou and Chongqing, A00 aluminium ingot price has escalated by RMB 70 per tonne and RMB 60 per tonne to come in at RMB 20,170 per tonne and RMB 20,220 per tonne, respectively, while the price in Shenyang and Tianjin has expanded by RMB...
LME aluminium benchmark price edges a fall of US$8/t to US$2580/t; SHFE price rebounds above US$3000/t
LME aluminium opened at US$2,567 per tonne on Wednesday and closed at US$2,615 per tonne, up US$57 per tonne or 2.23 per cent. But LME aluminium cash bid price and LME aluminium official settlement price continued to drop on June 15, marking the fifth consecutive day of downfall. Both the prices experienced a fall of US$8 per tonne to come in at US$2,579 per tonne and US$2,580 per tonne, respectively. 3-month bid price and 3-month offer price stood at US$2,594 per tonne and US$2,594.50 per tonne, down by US$16 per tonne and US$16.50 per tonne, respectively. December 23 bid price and December 23 offer price closed at US$2,580 per tonne and US$2,585 per tonne, seeing a fall of 0.31 per cent from the previous day. LME aluminium opening stock further decreased to 416125 tonnes as of June 15....
Hindalco Industries continues to trim aluminium ingot & products prices significantly by 3% w.e.f. June 14
Hindalco Industries Limited continued to trim its aluminium ingot and aluminium products prices in line with the downtrend price on the London Metal Exchange. With effect from June 14, Hindalco slashed its aluminium ingot price by INR 8,000 per tonne or 3.3 per cent to INR 234,750 per tonne. On June 11, the company’s aluminium ingot price stood at INR 242,750 per tonne, seeing a cut of INR 5,500 per tonne or 2.22 per cent. Hindalco Industries also reduced its aluminium wire rod price by INR 8,000 per tonne from INR 253,850 per tonne on June 11 to INR 245,850 per tonne on June 14. Aluminium billets price was no exception but experienced a cut by the same amount to INR 248,850 per tonne. With effect from June 11, the price came in at INR 256,850 per tonne, down by 2 per cent from the...
Egyptalum is contemplating plant development to increase aluminium production efficiency following a profitable nine-month
Egypt Aluminum Company, more popularly known as Egyptalum, the largest aluminium producer in Egypt and one of the largest in Africa, is contemplating revamping its current plant in a bid to enhance production efficiency of equipment and maintain the output capacity at 320,000 tonnes per annum. The news came on June 12 after a statement was filed to the Egyptian Exchange (EGX), saying that the cost to be involved in the development of the plant is not yet determined. As per the report, study has found the development of the seventh production line is feasible, provided the cost of the kilowatt-hour is 58 piasters. In early May, Egyptalum had reported a profitable first nine months of the fiscal year ended March 31, 2022. The company achieved a net profit after tax of EGP 1.68 billion...
Capral Aluminium the first extruder in Australia to join ASI as a Production & Transformation member
Capral Aluminium, one of Australia’s leading providers of aluminium products and associated services, has joined the Aluminium Stewardship Initiative, aiming at achieving ASI Performance Standard and Chain of Custody Standard certifications for its operations by mid-2024. As per the report, the company has joined as a Production and Transformation member, representing the first aluminium extruder in Australia to join ASI. Michael OKeefe, General Manager of Marketing & Technology and head of Sustainability at Capral Aluminium says the company has realized the importance of being acknowledged by the leading industry benchmarks. Certifications from ASI will help them meet sustainability commitments with transparency and credibility, which is fundamentally important for customers and end...
Vedanta Ltd further deducts INR8000/t from its aluminium ingot price as LME price plunges to 6-month low
Vedanta Limited has more significantly reduced its aluminium ingot and aluminium products selling prices, with effect from June 14, in response to the LME aluminium price plunge for the third consecutive day. Vedanta has notified a cut of INR 8,000 per tonne or 3 per cent on its aluminium ingot to sell it at INR 234,500- 267500 per tonne versus INR 242,500 -275,500 per tonne on June 11. Vedanta’s aluminium wire rod price has also suffered a loss of INR 8,000 per tonne, ranging between INR 242,000- 249,500 per tonne, with effect from June 14. On June 11, the company’s aluminium wire rod price stood at INR 250,000-257500 per tonne after being reduced by INR 5,500 per tonne. Aluminium billets price has come in at INR 243,500 per tonne, also down by INR 8,000 per tonne from INR 251,500 per...
China’s primary aluminium inventories extend downfall by 49,000 tonnes W-o-W to 825000 tonnes on June 13
China’s social inventories of primary aluminium decreased over the weekend by 28,000 tonnes across eight major consumption areas, including SHFE warrants, to come in at 825,000 tonnes on Monday, June 13, found the Shanghai Metals Market. On a week-on-week calculation, the inventories recorded a plunge of 49,000 tonnes or 5.61 per cent, showed SMM. This fall indicates the fact that the actual transaction situation is not as strong as the destocking trend. The chart below indicates the current status of primary aluminium inventories across China in more details: In Nanhai and Wuxi, primary aluminium inventories plummeted by 16,000 tonnes and 15,000 tonnes over the weekend to stand at 203,000 tonnes and 333,000 tonnes, respectively. Over the week, the inventories in those two provinces...
China’s secondary aluminium alloy operating rate grows 2 percentage points in May’22 on improved pandemic
According to the Shanghai Metals Market, the average operating rate of secondary aluminium alloy producers saw a 1.96 percentage points of M-o-M hike to stand at 45.89 per cent in May 2022. But on a yearly basis, the operating rate faced a downfall of 13.67 percentage points. The monthly increase in secondary aluminium alloy producers operating rates could be attributed to the resumption of production at most of the alloy plants in Jiangsu, Zhejiang, and Shanghai at the end of April and the recovery of transportation with the improvement of the COVID pandemic. The pressure from the backlog of orders and finished product inventories also eased. However, amid this there had been a slow recovery of end-use product consumption, especially in the automobile industry, which resulted in lower...
Ghana eyes to become an integrated aluminium producer, seeks strategic partner to upgrade VALCO’s smelter
Ghana, popularly known for abundant bauxite reserves, is now reportedly aiming at creating an integrated aluminium industry in the country, said Ghana Lands and Natural Resources minister Samuel Jinapor on Monday, June 13. With that aim, Ghana is running campaigns and trying its best to find a strategic partner which would help upgrade a state-owned Volta Aluminium Company’s (VALCO) aluminium smelter, said Jinapore on the same day at the Africa CEO Forum conference in Abidjan. "Today we are insisting ... that exploration, prospecting, mining, refining, smelting, the downstream industry, all of it must be in Ghana," Jinapor said. Ghana’s move to turn the country into an integrated aluminium producer and expand domestic processing capabilities looks like Africa’s another top bauxite...
Hindalco’s aluminium ingot price experiences a cut of INR5500/t with effect from June 11
Hindalco Industries Limited narrowed down its aluminium ingot and aluminium products prices, with effect from Saturday, June 11, following a hike on June 9. Hindalco’s aluminium ingot price came in at INR 242,750 per tonne, seeing a cut of INR 5,500 per or 2.22 per cent from INR 248,250 per tonne. Hindalco’s aluminium wire rod price also experienced a slash of INR 5,500 per tonne from INR 259,350 per tonne on June 9 to INR 253,850 per tonne on June 11. Hindalco’s aluminium billets price was no exception but also underwent a cut by the same amount to stand at INR 256,850 per tonne. Hindalco reduced its aluminium ingot and aluminium products prices on Saturday in response to the back-to-back downfall in the LME aluminium benchmark price on June 9 and 10 by US$70.50 per tonne to hit...
China’s aluminium billet operating rates inch up to 71.2% in May’22 owing to operation resumption after COVID pandemic
According to the Shanghai Metals Market, the average operating rates of aluminium billet producers using aluminium liquid grew by 0.2 percentage point month-on-month to 71.2 per cent in May 2022. In east China (mainly Shandong), north-west and south-west, aluminium billet operating rates exceeded 70 per cent, while dropped in north China by 1.12 percentage points to 54.1 per cent due to failure in securing aluminium liquid from local smelters in Inner Mongolia. However, the situation is likely to improve in June owing to operation resumption at a few billet producers who were closed for maintenance in April. In central China, the average operating rates of aluminium billet producers recorded an increase of 6.86 percentage points month-on-month, bolstered by improved pandemic situation in...
Vedanta’s aluminium ingot price suffers a loss of INR5500/t on June 11
Vedanta Limited has reduced its aluminium ingot and aluminium products prices by INR 5,500 per tonne or 2 per cent, with effect from Saturday, June 11, following a hike on June 9. That has brought the company’s aluminium ingot price to INR 242,500-275,500 per tonne versus INR 248,000-281,000 per tonne on Thursday, June 9. Vedanta aluminium ingot price on June 9 had seen a rise of INR 4,250 from the previous day. With effect from June 11, Vedanta’s aluminium wire rod price has come in at INR 250,000-257500 per tonne after being slashed by INR 5,500 per tonne. On June 9, the price stood at INR 255,500-263,000 per tonne, up by INR 4,250 per tonne from 251,250-258750 on June 8. Aluminium billets selling price is currently standing at INR 251,500 per tonne, also down by INR 5,500 per tonne...
Weekly Recap: LME aluminium price slips by US$47/t through the week to US$2695/t; SHFE plummets by US$76/t
LME aluminium cash bid price and LME aluminium official settlement price resumed the week on Monday, June 6, with a sharp rise of US$40 per tonne and US$40.50 per tonne to come in at US$2,741 per tonne and US$2,742 per tonne, respectively. On Tuesday, June 7, the prices decreased by US$27 per tonne or 0.98 per cent to close at US$2,714 per tonne and US$2,715 per tonne, but rebounded the next day to US$2,765 per tonne and US$2,765.50 per tonne. On Thursday, June 9, LME aluminium cash bid price and LME aluminium official settlement price again decreased to halt at US$2,752 per tonne and US$2,752.50 per tonne, and further slipped on Friday, June 10, to close the week at US$2,694.50 per tonne and US$2,695 per tonne. 3-month bid price and 3-month offer price also started the week with a hike...
China’s aluminium production in May registers an increase of 4% M-o-M to 3.435 Mt
According to the Shanghai Metals Market, China produced 3.435 million tonnes of aluminium in May (31 days), which registered an increase of 4.15 per cent from 3.298 million tonnes in April (30 days). On a year-on-year basis, the output in May grew 3.6 per cent from 3.32 million tonnes. The daily average production of aluminium amounted to 110,800 tonnes in May’22, up by 800 tonnes month-on-month and 3,900 tonnes on the year. During January-May 2022, aluminium production in China totalled 16.199 million tonnes, a decrease of 0.39 per cent from 16.25 million tonnes during the same period last year. In May, China’s domestic aluminium saw both increase and decrease in supply and a slight hike in production capacity. Enterprises in Yunnan, Guangxi and Henan resumed operations and put new...
