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 wire rod & billet prices escalate by INR2750/t with effect from May 24
Vedanta Limited continued to increase its aluminium products and aluminium ingot prices by INR 2,750 per tonne or 1 per cent, marking the fifth consecutive hike. With effect from Tuesday, May 24, Vedanta’s aluminium wire rod price grew to INR 271,750 – 279,250 per tonne from INR 269,000 – 276,500 per tonne on May 21. Vedanta’s aluminium billet price mounted to INR 272,250 per tonne versus INR 269,500 per tonne on May 21. Aluminium ingot price ranged between INR 264,250 – 299,950 per tonne compared to INR 261,500 – 297,200 per tonne on the previous day. Vedanta Limited increased its aluminium prices on May 24 as the LME aluminium benchmark price rallied further for the second day in a row on Monday, May 23, by US$32 per tonne from US$2,931 per tonne to US$2,963 per tonne. Vedanta’s...
Hydro’s Commerce aluminium plant first in US to achieve Hydro CIRCAL production certificate
Hydro’s aluminium plant in Commerce, Texas, is now certified to produce Hydro CIRCAL, a low-carbon recycled aluminium product containing at least 75 per cent post-consumer, end of life scrap. The plant is Hydro’s first in the United States certified to produce Hydro CIRCAL. The news came after the independent risk management and quality assurance company DNV-GL issued the certificate for production on May 18, 2022. It will increase the production of Hydro CIRCAL to meet the growing demand for aluminium in the automotive and transportation sector as auto manufacturers are switching to electric vehicles. The initial annual production of the plant is expected to be around 4,000 tonnes. Trond Gjellesvik, President of Hydro Aluminum Metal, North America, said: “With auto manufacturers...
LME aluminium price slumps by 2.8% after two consecutive hikes; SHFE price falls to US$3072/t
Three-month LME aluminium opened at US$2,957 per tonne on Tuesday and closed at US$2,877 per tonne, down US$78 per tonne or 2.64 per cent. Both LME aluminium cash bid price and LME aluminium official settlement price decreased on Tuesday, May 24, after two consecutive days of hike. While the former slumped by US$81.50 per tonne or 2.75 per cent to come in at US$2,880.50 per tonne, the latter plummeted by US$82 per tonne or 2.77 per cent to settle at US$2,881 per tonne. 3-month bid price and 3-month offer price also recorded a sharp downfall of US$66 per tonne and US$67 per tonne to close at US$2,907 per tonne and US$2,908 per tonne, respectively. December 23 bid price and December 23 offer price slipped by US$32 per tonne or 1.12 per cent to record at US$2,823 per tonne and US$2,828 per...
SMM finds China’s aluminium plate/sheet and strip exports surge 52% Y-o-Y in April 2022
China customs data found the country’s aluminium plate/sheet and strip exports in April 2022 stood at 329,000 tonnes, registering a month-on-month increase of 1 per cent and a year-on-year rise of 52 per cent. Exports to the top 10 destinations were 189,200 tonnes, which accounted for 57.49 per cent of China’s total exports of aluminium plate/sheet and strip. To Mexico and South Korea, the two leading destinations, China exported 44,000 tonnes and 34,400 tonnes of aluminium plate/sheet and strip, respectively. Henan, Shandong, Fujian, Zhejiang, Jiangsu, Shanghai, Tianjin and Guangdong were the eight other top importers of China’s aluminium plate/sheet and strip. Some of the Chinese provinces like Jiangsu, Zhejiang, and Shanghai registered a month-on-month drop in exports to 57,200 tonnes...
ASI grants Novelis aluminium sheet facility in China with Performance Standard V2 (2017) Certification
Novelis (China) Aluminum Products Co., Ltd. has reportedly bagged the ASI Performance Standard V2 (2017) Certification for its production facility in Changzhou National Hi-Tech District, Jiangsu Province, China. The plant produces high-strength and lightweight aluminum sheet for use in full structural frames, hoods, doors, fenders, and many other components. The news came after ASI officially announced successful certification to Novelis Changzhou production facility on Tuesday, May 24. The ASI Performance Standard defines environmental, social and governance principles and criteria, aiming at addressing sustainability issues in the aluminium value chain. With 59 criteria under three sustainability pillars of Governance, Environmental and Social, ASI addresses key issues, such as...
China’s prebaked anode exports grew 8% in April’22, with a lion share sent to Malaysia
The General Administration of Customs found China’s total exports of prebaked anode reached 185,500 tonnes in April 2022, which were 8.22 per cent higher month-on-month and 63.86 per cent year-on-year. Export value amounted to US$192 million, with a unit price of $1,035.81 per tonne. China exported its lion share of prebaked anode to Malaysia in April 2022, a volume of 48,700 tonnes which accounted for 26 per cent of the country’s total export volume. The value of the export to Malaysia stood at almost US$42 million, with a unit price at US$855.24 per tonne. Norway was the second leading destination for China’s prebaked anode exports, securing 33,600 tonnes. That accounted for 18 per cent of China’s total exports, with a value of US$36.5 million and a unit price of US$1,087.18 per tonne....
China’s primary aluminium inventories continue to decline W-o-W to 942000 tonnes: SMM
According to the Shanghai Metals Market, social inventories of primary aluminium in China decreased by 42,000 tones week-on-week across eight major consumption areas, including SHFE warrants, to come in at 942,000 tonnes as of Monday, May 23. Compared to last Thursday, May 19, primary aluminium inventories declined by 23,000 tonnes and from the end of April shrank by 21,000 tonnes. Low arrivals of stocks and normal shipments out of warehouses caused the decline in inventories. The chart below indicates the current status of primary aluminium inventories across China in more details: In terms of region, Wuxi and Gongyi contributed most of the decline on Monday, May 23. In Wuxi, inventories plunged by 14,000 tonnes from Thursday and 28,000 tonnes from last Monday to stand at 427,000 tonnes,...
Hindalco’s aluminium billets price continues to upswing by 2.89% w.e.f. May 21
Hindalco Industries Limited further raised its aluminium products and aluminium ingot prices on Saturday, May 21, for the second time in a week. A previous hike was on May 18 when Hindalco expnded its aluminium billets price by INR 10,500 per tonne to INR 268,100 per tonne. Three days later, Hindalco increased the price by INR 7,750 per tonne or 2.89 per cent to INR 275,850 per tonne. Hindalco’s aluminium wire rod price also witnessed a hike of INR 7,750 per tonne, with effect from May 21, from INR 265,100 per tonne to INR 272,850 per tonne. Aluminium ingot price was no exception but rose by the same amount to INR 261,750 per tonne. On May 18, Hindalco’s ingot price came in at INR 254,000 per tonne, escalating by INR 10,500 per tonne. Hindalco continued to grow its aluminium ingot and...
Africa’s primary aluminium production during April’22 drops 4.4% M-o-M to 131,000 tonnes: IAI
In April 2022, primary aluminium production in Africa stood at 131,000 tonnes, registering a month-on-month downfall of 6,000 tonnes or 4.38 per cent, showed the International Aluminium Institute data. In March, primary aluminium output was 137,000 tonnes, seeing a hike of 11.38 per cent from 123,000 tonnes in February. On a year-on-year basis, primary aluminium production in Africa during April’22 stood only 1,000 tonnes higher than 130,000 tonnes. In total four months of the year 2022, Africa produced 528,000 tonnes of primary aluminium, up by 2.52 per cent or 13,000 tonnes from 515,000 tonnes of output during the same period last year. World primary aluminium production during January-April 2022 amounted to 22.148 million tonnes, down by 1.06 per cent from 22.385 million tonnes during...
Maan Aluminium reports over 100% quarterly hike in net profit despite 21.5% decline in sales during 1Q2022
Maan Aluminium, a downstream aluminium producer in India, has announced its net sales of INR 129 crore for the March quarter of 2022, down by 21.55 per cent from INR 164.44 crore in the December quarter and 20.99 per cent lower than INR 163.27 crore during the same period last year. But despite the downfall in net sales, Maan Aluminium has reported a sharp quarterly increase of 108.42 per cent in net profit to INR 8.17 crore in Q4 ended March 31. On a year-on-year basis, the net profit grew 55.32 per cent from INR 5.26 crore. Earnings per share also hiked on the quarter by 108.28 per cent from INR 2.9 to INR 6.04 in 4Q2022. But compared to a year ago, it plunged by 22.37 per cent from INR 7.78. As of May 20, 2022, Maan Aluminium’s shares closed at 137.25. As per a report, the company gave...
LME aluminium price expands by US$105/t after an intermittent drop; SHFE builds up US$39/t to US$3129/t
Three-month LME aluminium price opened at US$2,935 per tonne last Friday and closed at US$2,969.50 per tonne, an increase of US$63 per tonne or 2.17 per cent. On Friday, May 20, both LME aluminium cash bid price and LME aluminium official settlement price skyrocketed by over US$100 per tonne after an intermittent drop on the previous day. While the former came in at US$2,930 per tonne, seeing a surge of US$104.50 per tonne, the latter closed at US$2,931 per tonne, witnessing a jump of US$105 per tonne. 3-month bid price and 3-month offer price augmented by US$93.50 per tonne and US$95 per tonne, respectively, to settle at US$2,933 per tonne and US$2,935 per tonne. December 23 bid price and December 23 offer price totalled at US$2,845 per tonne and US$2,850 per tonne. LME aluminium opening...
NALCO’s aluminium ingot price sees a sharp rise of more than 6% to INR255850 – 259350/t
After more than a week, National Aluminium Company Limited (NALCO) has revised its aluminium selling prices in accordance with the LME aluminium benchmark price trend. As the LME price has been on an upswing spree, NALCO has decided to expand its aluminium ingot and aluminium products prices. So, with effect from May 19, NALCO has raised its aluminium ingot price by INR 16,200 per tonne or 6.7 per cent to INR 255,850 – 259,350 per tonne versus INR 239,650 – 243,150 per tonne on May 10. NALCO’s aluminium wire rod price has also been sharply increased by INR 16,200 per tonne to INR 258,350 – 262,700 per tonne as of May 19. Aluminium billets price has amounted to INR 259,300 – 261,950 per tonne, seeing a raise of IR 16,200 per tonne too from the previous day. The LME aluminium benchmark...
World primary aluminium production dips 1.4% Y-o-Y to 16.549 Mt in 1Q2022
World primary aluminium production in the first quarter of 2022 totalled 16.549 million tonnes, registering a quarter-on-quarter downfall of 0.53 per cent from 16.637 million tonnes, found the International Aluminium Institute (IAI). On a year-on-year calculation, the output in Q1 2022 also recorded a decline by about 1.40 per cent from 16.786 million tonnes. The data revealed as IAI published that world primary aluminium production in March 2022 came in at 5.739 million tonnes compared to 5.150 million tonnes in February. That was a month-on-month increase of 11.44 per cent in March, following a decline in the previous month by about 9.01 per cent from 5.660 million tonnes in January. On a year-on-year basis, world primary aluminium output in March 2022 stood 0.70 per cent less than...
Vedanta’s aluminium ingot price mounts to INR253,750 – 289,450/t as LME price continues to rally
Vedanta Limited has continued to expand its aluminium ingot and aluminium products prices as the LME aluminium benchmark price records an interrupted growth. With effect from Wednesday, May 18, Vedanta has raised its aluminium ingot price by INR 4,750 per tonne or 1.9 per cent to INR 253,750 – 289,450 per tonne. On the previous day, May 17, the company’s ingot price ranged between INR 249,000 - 284,700 per tonne, seeing a hike of INR 5,750 per tonne. Vedanta’s aluminium wire rod price has also been grown by INR 4,750 per tonne, with effect from May 18, from INR 256,500 – 264,000 per tonne to INR 261,250 – 268,750 per tonne. Aluminium billet price is no exception but seen a rise by the same amount or 1.84 per cent to become saleable at INR 261,750 per tonne. Vedanta increased its aluminium...
China’s primary aluminium inventories decline further by 38,000 tonnes W-o-W: SMM
According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 38,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants, to come in at 965,000 tonnes as of Thursday, May 19. Compared to this Monday, May 16, the inventories have declined by 19,000 tonnes, while that in contrast to April-end descended by 22,000 tonnes. Low arrivals of stocks were the main reason for the inventory decline. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi and Gongyi, primary aluminium inventories have plunged by 28,000 tonnes and 20,000 tonnes, respectively, to come in at 441,000 tonnes and 85,000 tonnes, found SMM. Drop in stock arrivals amid normal cargo pick up was...
EGA’s Al Taweelah again wins ASI Performance Standard Certification
Emirates Global Aluminium has announced on Thursday, May 19, that its Al Taweelah site has again bagged the Aluminium Stewardship Initiative’s Performance Standard Certification for sustainable performance. The recertification covers EGA’s port, power generation, carbon plant, potlines, casthouse, and waste management including spent pot lining and dross. The Aluminium Stewardship Initiative acknowledges the efforts of metals and mining companies as well as end-users of aluminium towards the sustainability of the society. The ASI Performance Standard Certification is now a global benchmark for sustainability performance in the industry. Al Taweelah’s first ASI Performance Standard Certification dates back to 2019. The recertification is the first for an aluminium smelter in the Middle...
Odisha government approves INR 428.95 crore budget for a mega aluminium park in Angul
According to a report on Wednesday, May 18, the Odisha government has approved a budgetary provision of INR 428.95 crore for the development of a mega aluminium park in Angul. The state cabinet members took the decision at a meeting chaired by Odisha Chief Minister Naveen Patnaik. The objective is to establish an industrial space with world-class infrastructure at a competitive price to attract entrepreneurs to build manufacturing units in the upcoming business park. The development of the park is under focus sector as per Vision 2025 and being monitored under 5T Framework regularly. Besides the budgetary support, the government has agreed to issue a financial scheme – Financial Assistance for Development of Mega Aluminium Park at Angul for IDCO (Odisha Industrial Infrastructure...
LME aluminium price grows for the fourth consecutive day by US$9/t; SHFE mounts to US$3028/t
Three-month LME aluminium opened at US$2,881 per tonne on Wednesday and closed at US$2,825 per tonne, down US$57 per tonne or 1.98 per cent. On Wednesday, May 18, both LME aluminium cash bid and LME aluminium official settlement price continued to grow for the fourth day in a row but at a slower pace than the previous day. The former increased by US$9.5 per tonne to US$2,844.50 per tonne, while the latter gained US$9 per tonne to US$2,845 per tonne. 3-month bid price and 3-month offer price climbed up by US$17 per tonne or 0.60 per cent on the same day to come in at US$2,873 per tonne and US$2,875 per tonne, respectively. December 23 bid price and December 23 offer price built up by US$5 per tonne to rest at US$2,813 per tonne and US$2,818 per tonne. LME aluminium opening stock continued...
