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.
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Alumina production in Africa & Asia (ex-China) sees M-o-M hike of 8.36% to 1.179 Mt during April’22
Alumina production in Africa & Asia (ex-China) stood at 1.179 million tonnes in April 2022, registering a continued increase of 8.36 per cent month-on-month, according to the International Aluminium Institute (IAI) data. In March, the output stood at 1.088 million tonnes, up by 1.21 per cent from 1.075 million tonnes in February. On a year-on-year calculation, alumina production in Africa & Asia (ex-China) during April 2022 recorded a hike of 6.03 per cent from 1.112 million tonnes. In the first four months of 2022, alumina production in Africa & Asia (ex-China) totalled 4.491 million tonnes, 5.5 per cent higher than 4.257 million tonnes during the same period last year. In Q1 2022, alumina production in Africa & Asia (ex-China) came in at 3.312 million tonnes, down by 2.76 per cent...
Novelis joins worldwide initiative First Movers Coalition to decarbonise aluminium industry
On Tuesday, May 31, Novelis Inc., the world leader in aluminium rolling and recycling, announced the joining to the First Movers Coalition (FMC), a global initiative aimed at decarbonising eight “hard to abate” sectors that account for 30% of worldwide carbon emissions. By joining this platform, Novelis will contribute its effort to reducing carbon emissions from the aluminium manufacturing process, along with many other enigmatic companies from the same industry. The First Movers Coalition (FMC) was launched during the 26th United Nations Climate Change Conference (COP26) in October 2021. Its aim to reduce carbon emissions is expected to reach commercial scale by 2030 and achieve net-zero emissions by 2050. This complements Novelis’ goals to accomplish a 30% carbon footprint cut by 2026...
Hydro Rein and GIG to build and operate wind & solar project for power supply to Alunorte alumina refinery
Hydro Rein, a renewable energy solutions provider, and Macquarie Asset Management’s Green Investment Group (GIG), a specialist green investor, have signed an agreement to form a joint venture company Feijão. The company will build and operate a combined wind and solar power project, with a capacity of 586 megawatt, in the northeast of Brazil. As per the announcement by Hydro, Feijão will supply 100 per cent of the electricity required by Hydro’s bauxite mine Paragominas and replace the usage of coal at Hydro’s Alunorte alumina refinery by 2030 to further reduce carbon emissions. Both Paragominas and Alunorte have signed a long-term power purchase agreement with Feijão under Brazilian self-production structure. The hybrid wind and solar project is coming up at Piauí and Pernambuco,...
Vedanta heightens its aluminium ingot price by INR2750/t or 1% with effect from May 31
Vedanta Limited expanded its aluminium ingot and aluminium products prices, with effect from Tuesday, May 31, following a cut last week on May 26. The company heightened its aluminium ingot price by INR 2,750 per tonne or 1 per cent to the range of INR 255,500 – 291,200 per tonne versus INR 252,750- 288,450 per tonne on May 26. Vedanta’s aluminium billets price came in at INR 263,500 per tonne, 260750 on May 31, experiencing an increase of INR 2,750 per tonne from INR 260,750 per tonne. Aluminium wire rod price also witnessed a rise by the same amount to stand at INR 263,000 – 270,500 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 during May 26-30 trended up by US$37.50 per...
LME aluminium benchmark price slumps by US$46.5/t; SHFE plummets by 3% to US$3016/t
LME aluminium opened at US$2,885 per tonne on Tuesday and closed at US$2,789 per tonne, experiencing a sharp downfall of $91 per tonne or 3.16 per cent. On Tuesday, May 31, LME aluminium cash bid price witnessed a plunge of US$46 per tonne, while LME aluminium official settlement price slumped by US$46.50 per tonne. That brought the prices to US$2,816 per tonne and US$2,816.50 per tonne, respectively, for the day. 3-month bid price and 3-month offer price also saw a considerable downfall of US$42 per tonne and US$41 per tonne to come in at US$2,848 per tonne and US$2,850 per tonne. December 23 bid price and December 23 offer price experienced a fall of US$40 per tonne to US$2,805 per tonne and US$2,810 per tonne, respectively. LME aluminium opening stock further declined to 458875 tonnes...
World daily alumina output improves in April’22 despite a 3% monthly fall to 11.373 Mt : IAI
World alumina production in April 2022 came in at 11.063 million tonnes, registering a downfall of 2.73 per cent from 11.373 million tonnes in March, found the International Aluminium Institute. However, the output in March registered a month-on-month hike of 12.43 per cent from 10.116 million tonnes. On a year-on-year basis, world alumina production in April also stood 4.65 per cent lower than 11.603 million tonnes, according to IAI data. In the first four months of the year, world alumina production totalled 44.181 million tonnes, a decrease of 3 per cent from 45.546 million tonnes during the same period last year. In China, alumina production in April 2022 amounted to 6.077 million tonnes, recording a month-on-month decline of 3.23 per cent from 6.280 million tonnes. On a year-on-year...
Alumina spot price in China dips by RMB2/t to RMB2987/t; A00 aluminium ingot price inches up by RMB10/t
China's average alumina spot price has continued to fall for the second day in a row, although at a lower rate than the previous day. According to the Shanghai Metals Market data, the price has dipped by RMB 2 per tonne to stand at RMB 2,987 per tonne on Tuesday, May 31. In Guizhou and Guangxi, alumina spot price has decreased by RMB 15 per tonne and RMB 10 per tonne, respectively, to come in at RMB 3,010 per tonne and RMB 2,990 per tonne, found SMM. However, the price in Shandong, Henan, and Shanxi has remained muted at RMB 3,005 per tonne, RMB 3,060 per tonne and RMB 2,905 per tonne, respectively. The Australian alumina FOB price has also recorded no change from US$356 per tonne since May 26. A00 aluminium ingot price has inched up by RMB 10 per tonne, following a decline of RMB 50 per...
Domestic demand for European aluminium foil rolls grows 5% in 1Q2022 driven by packaging industry
According to a report published by the European Aluminium Foil Association, the first quarter of 2022 witnessed robust domestic demand for European aluminium foil rolls, countervailing a continuing decline in exports. Demand in the larger domestic market segment grew by 5 per cent in the quarter, with a total production volume 0.2 per cent higher Y-o-Y to 244,700 tonnes. Exports dropped sharply by 27 per cent as pressures on several non-domestic fronts continued to weigh. European demand for thin gauges, used mainly for flexible packaging and other kitchen applications, recovered considerably with a hike of 9 per cent in Q1 2022. That was higher than the 6 per cent of growth seen in the previous quarter and the overall rising trend of 3 per cent last year. The packaging industry...
Hindalco back-to-back cuts its aluminium wire rod & billet prices by total INR11500/t
Hindalco Industries Limited slashed its aluminium products and aluminium ingot prices back-to-back this week, following incessant hikes since May 13. On May 25, Hindalco reduced its aluminium wire rod price by INR 6,750 per tonne to INR 268,850 per tonne and extended the cut by INR 4,750 per tonne to INR 264,100 per tonne on May 26. So in total, the price saw a slash of INR 11,500 per tonne in two days. Hindalco’s aluminium billets price also saw a cut of INR 4,750 per tonne on May 26 to INR 267,100 per tonne after being reduced by INR 6,750 per tonne to INR 271,850 per tonne on May 25. Aluminium ingot price was also cut by INR 6,750 per tonne on Wednesday, May 25, to INR 257,750 per tonne and witnessed a trim of INR 4,750 per tonne the next day to INR 253,000 per tonne. Hindalco...
LME aluminium benchmark price trends down this week to US$2823/t; SHFE price slumps to US$3085/t
The LME aluminium benchmark price has showcased a downswing this week after a prolonged period of hikes. Although both the LME aluminium cash bid price and LME aluminium official settlement price started the week on Monday, May 23, with a jump of US$32 per tonne to US$2,962 per tonne and US$2,963 per tonne, the prices began to decrease from the next day US$81.50 per tonne and US$82 per tonne, respectively, to come in at US$2,880.50 per tonne and US$2,881 per tonne. On Wednesday, May 25, both LME aluminium cash bid price and LME aluminium official settlement price extended decline to US$2,829 per tonne and US$2,829.50 per tonne and moved further down to US$2,825 per tonne and US$2,825.50 per tonne on Thursday, May 26. On Friday, May 27, both the LME prices slipped to US$2,822.50 per tonne...
Manna Capital to build aluminium can sheet rolling mill in alliance with Ball to boost domestic product availability
Manna Capital Partners, a financial advisory and wealth creation company based in Louisville, Kentucky, is reportedly diversifying into aluminium can sheet roll sector. The news came on Thursday, May 26, following an announcement that Manna Capital, in alliance with the world-leading aluminium beverage packaging company, will construct and operate a state-of-the-art aluminium can sheet rolling mill and recycling centre in Los Lunas, New Mexico. As per the report, Ball Corporation is willing to enter into a long-term supply agreement and intends to hold a minority equity position in the mill. Alliance like this will allow Ball Corporation and its customers to access more domestically produced aluminium can sheet. This new alliance in town demonstrates both the companies’ commitment towards...
Hindalco earns historic profit of INR 13,730 crore in FY2022, attributing to robust performance in downstream business
On Thursday, May 26, Hindalco Industries Limited reported the consolidated fourth quarter and full-year financial results for 2021-22, revealing highest-ever profits. Its consolidated PAT peaked to a record high at INR 3,851 crore in 4QFY22, a 100 per cent growth year-on-year. In the entire year, consolidated PAT increased four-fold to INR 13,730 crore, driven by exceptional performance supported by favourable macros, strategic product mix and an improved performance by the downstream business. Continuing to be the highest EBITDA margin producer of aluminium, Hindalco recorded a 30 per cent growth in Q4 EBITDA to INR 7,597 crore and a 59 per cent surge in full-year EBITDA to INR 30,056 crore. Novelis' adjusted EBITDA for the full financial year was recorded at $2.0 billion, up 19 per cent...
NALCO’s aluminium ingot price builds up by INR3200/t with effect from May 25
National Aluminium Company Limited (NALCO) further increased its aluminium ingot and aluminium products prices, although at a much slower rate than the previous time, in tandem with the growth in the LME aluminium benchmark price during May 19-24. With effect from Wednesday, May 25, NALCO raised its aluminium ingot price by INR 3,200 per tonne to INR 259,050 – 262,550 per tonne, as against INR 255,850 – 259,350 per tonne on May 19. NALCO’s aluminium billets price also saw an increase of INR 3,200 per tonne to INR 262,500 – 265,150 per tonne on May 25 from INR 259,300 – 261,950 per tonne on May 19. With the latest rise, the company’s aluminium wire rod price has been ranging between INR 261,550 – 265,900 per tonne in contrast to INR 258,350 – 262,700 per tonne. During May 19-24, the LME...
Primary aluminium inventories in China decline for the third week in a row to 937,000 tonnes
Social inventories of primary aluminium in China have decreased by 28,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, found the Shanghai Metals Market. That brought the inventories to 937,000 tonnes on Thursday, May 26, which compared to Monday, May 23, were down by 5,000 tonnes. Weak arrivals of stocks against stable outflows led to the further decline in primary aluminium inventories. The chart below indicates the current status of primary aluminium inventories across China in more details: The decline in inventories this we led by Wuxi, wherein stocks have plunged by 26,000 tonnes week-on-week to come in at 415,000 tonnes, followed by the decrease of 8,000 tonnes in Gongyi to 77,000 tonnes. In Shanghai and Chongqing, primary aluminium inventories...
IDCO to build mega aluminium park in Angul by acquiring 300 acres of additional land beside existing park
The Odisha Industrial Infrastructure Development Corporation (IDCO) is reportedly planning to develop the aluminium business park in Angul near the existing park. An additional 300 acres of land will be acquired beside the existing 223 acres to establish a mega park. The news followed the cabinet budget approval of INR 428 crore for the construction of the proposed mega park a week ago. State industries secretary Hemant Sharma said, “Since the existing aluminium park has been developed on a small patch of land of 223 acres, we want to convert it into a mega aluminium park by developing similar infrastructure over an additional 300 acres of land.” He also said Idco would soon start the land acquisition process to finish the project in next three years. As per the report, the proposed...
NALCO books highest ever profit of INR 2,952 crore in FY2022 on nameplate aluminium output and soaring prices
On Wednesday, May 25, National Aluminium Company Limited (NALCO), the Navratna CPSE, announced its fiscal report for 2021-22, revealing robust performances and surpass of several milestones. The company said in a regulatory filing that it achieved the best ever annual production and sales during FY2022 and therefore earned highest revenue from operations and highest net profit of INR 14,181 crore and INR 2,952 crore, respectively. Soaring aluminium prices and uptick in global demand led to this multi-fold increase in turnover and consequent profit that soared by 227 per cent year-on-year. For the last quarter ended March 31, the company reported a consolidated profit of INR 1,025.46 crore, an increase of 9.5 per cent from INR 935.74 crore during the corresponding period of the previous...
EGA meets and greets global aluminium industry leaders to discuss decarbonising electricity generation for net-zero by 2050
On Wednesday, May 25, Emirates Global Aluminium (EGA) greeted aluminium industry leaders from all over the world in Dubai at the 50th-anniversary meeting of the International Aluminium Institute (IAI). The International Aluminium Institute brings together the global aluminium industry to promote industry’s activities and responsibilities towards the production of green aluminium and its sustainable usage. IAI has members from all verticals of the industry like bauxite, alumina, and aluminium. The activities of the association are monitored by a Board of Directors, with each member company represented at a senior executive level. After the meet and greet, IAI board members paid a visit to Dubai Electricity and Water Authority’s Mohammad bin Rashid Al Maktoum Solar Park to hear about the...
Hindalco’s aluminium ingot price further uptrends by 1% with effect from May 24
Hindalco Industries’ aluminium ingot and aluminium products prices further trended up by INR 2,750 per tonne or 1 per cent, with effect from Tuesday, May 25. That brought the company’s aluminium ingot price to INR 264,500 per tonne versus INR 261,750 per tonne on May 21. Hindalco’s aluminium wire rod price came in at INR 275,600 per tonne, seeing a rise from INR 272,850 per tonne on the previous day. Aluminium billets price stood at INR 278,600 per tonne, in contrast to INR 275,850 per tonne on May 21. Hindalco continued to grow its aluminium ingot and products prices in response to the LME aluminium benchmark price rally by US$32 per tonne from US$2,931 per tonne on May 22 to US$2,963 per tonne on May 23. Aluminium operations of the company, excluding those of its US arm Novelis Inc.,...
