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 raises its aluminium wire rod & billets prices by INR10500/t with effect from May 18
Hindalco Industries Limited has continued to increase its aluminium products and aluminium ingot prices as the global aluminium benchmark price on the London Metal Exchange rallies back-to-back. With effect from Wednesday, May 18, Hindalco’s aluminium wire rod price has experienced a sharp rise of INR 10,500 per tonne or 4.12 per cent to INR 265,100 per tonne. On Saturday, May 14, the price saw an increase of INR 2,250 per tonne to INR 254,600 per tonne. Hindalco’s aluminium billets price has also been raised by INR 10,500 per tonne, with effect from May 18, from INR 257,600 per tonne to INR 268,100 per tonne. Aluminium ingot price is no exception but also been raised by INR 10,500 per tonne to INR 254,000 per tonne. From May 13 to 17, the LME aluminium benchmark price hiked by US$113 per...
Imerys to build a 4.67-MWp solar plant at its alumina refinery in Bahrain, a step towards 36% carbon cut by decade-end
Paris-headquartered industrial minerals manufacturing company Imerys S.A. has reportedly collaborated with Yellow Door Energy to build a 4.67-MWp solar plant at its white fused alumina refinery in Bahrain. As per the report, more than 8,500 solar panels will be installed in the plant located across 25,000 square metre (6.17 acres), and will be connected to the internal distribution network of the refinery operated by Imerys and Manama-based Al Zayani Industries. This an initiative by Imerys to walk a step closer to reduce carbon emissions as the solar plant is expected to produce 7.6 GWh of clean electricity in the first year of operation. Therefore, it will help curtailing 4,800 tonnes of carbon emissions, meeting between 15 and 20 per cent of the refinery’s energy consumptions. It is...
Vedanta Aluminium enters a long-term contract with NHAI to build greener roads with fly-ash
According to a recent report, Vedanta Aluminium has signed a long-term contract with the National Highways Authority of India (NHAI) to construct greener roads with fly-ash in Odisha. The news came on Tuesday, May 17, after Vedanta announced it officially in a statement, "The company has... entered a long-term partnership with the National Highways Authority of India (NHAI) for building greener roads with fly-ash in Odisha." Fly-ash, a by-product of thermal power generation using coal, is primarily used in the cement, construction, and infrastructure industries. The use of fly-ash improves product quality while saving around 700 to 800 kilogramme of carbon emissions and 341 litres of water. In the last fiscal year (FY2022), Vedanta Aluminium has utilised about 2.8 lakh tonnes of fly-ash...
Vedanta expands its aluminium billet price by INR5750/t in response to LME aluminium price rally for supply shortage in Europe
Vedanta Limited has further raised its aluminium products and aluminium ingot prices, with effect from Tuesday, May 17, in response to back-to-back LME aluminium price hike this week. As per the revised prices revealed, Vedanta has expanded its aluminium billet price by INR 5,750 per tonne or 2.29 per cent to sell the product at INR 257,000 per tonne. On Saturday, May 14, the price stood at INR 251,250 per tonne, seeing an increase of INR 2,000 per tonne from the previous day. Vedanta’s aluminium wire rod price has also experienced a rise of INR 5,750 per tonne, with effect from May17, to range between INR 256,500 – 264,000 per tonne versus INR 250,750-258,250 per tonne on May 14. Vedanta has increased its aluminium prices in tandem with the LME aluminium benchmark price rally by US$103...
Aluminium scarcity in Europe will further erode 17-year low LME stocks
Aluminium supplies to Europe to fill the scarcity in the region will further lower the aluminium inventories in LME-approved warehouses over the coming days and weeks from its current 17-year low. Citi analyst Max Layton has analysed and noted that aluminium supply will continue to remain weak in Europe as nearly 1.5 million to 2 million tonnes of output are at the risk of closure over the next three to twelve months. Record high power prices in Europe are continuously lifting the production costs of aluminium, resulting in output curtailments and shutdown. Western Europe accounts for about 10 per cent of global consumption estimated around 70 million tonnes this year. Aluminium shortage in Europe has resulted in large draws on LME aluminium stocks, which have already fallen by 72 per...
Primary aluminium inventories in China drop 2% over the weekend to shrink below 1 million tonnes
According to the Shanghai Metals Market, social inventories of primary aluminium have declined over the weekend ending May 16 by 19,000 tonnes or 1.89 per cent across eight major consumption areas, including SHFE warrants. On a year-on-year calculation, the inventories are down by 77,000 tonnes coming in at 984,000 tonnes. This has also marked a month-on-month downfall of 55,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: Inventory in Wuxi has declined the most on Monday, May 16, by 14,000 tonnes to stand at 455,000 tonnes, followed by the decrease of 8,000 tonnes in Gongyi to 97,000 tonnes. In Hangzhou and Chongqing, inventories have inched down by 1,000 tonnes to settle at 55,000 tonnes and 5,000 tonnes,...
On-warrant LME aluminium inventories drop 9.7% to a two-decade low; but price retreats from its gains on a weak demand outlook
Aluminium stocks in the London Metal Exchange have decreased to a record low but the sign of supply shortages has yet not wobbled the bearish sentiment of the global metal price anticipating weaker demand in the near future. According to the data shown by London Metal Exchange, on-warrant aluminium inventories have dropped 9.7 per cent to total 260,275 tonnes, surpassing the previous low in the year 2000. Stockpiles have plummeted by 63 per cent this year, approaching towards a record annual decline and deepened deficit, due to robust demand amid production curtailments. But despite the incessant fall in stocks, the LME aluminium price has retreated from the earlier gains, which indicates the fact that the industry focus is now on the risks of low demand. The mood in metals markets has...
Hindalco expands its aluminium ingot price for three days in a row by INR2250/t on May 14
Hindalco Industries Limited raised its aluminium ingot and aluminium products prices for the third day in a row, with effect from Saturday, May 14. As per the revised prices, the company’s aluminium ingot price saw a rise of INR 2,250 per tonne or 1 per cent to INR 243,500 per tonne. On Friday, May 13, the price stood at INR 241,250 per tonne, seeing an increase of INR 1,500 per tonne from the previous day. Hindalco’s aluminium wire rod price also experienced a growth of INR 2,250 per tonne from INR 252,350 per tonne on May 13 to INR 254,600 per tonne on May 14. Aluminium billets price came in at INR 257,600 per tonne, also up by the same amount from INR 255,350 per tonne. Hindalco continued to expand its aluminium prices for the third consecutive day in response to the upswing of the LME...
Operating rate across aluminium processors in China grows to 58.6% in the backdrop of recovery from the pandemic
According to the Shanghai Metals Market data, the average operating rate across aluminium processors in China grew by 1.3 percentage points week-on-week to stand at 58.6 per cent last week ended Friday, May 13, driven by the resumption of operations after the Labour Day Holiday. But compared to the week prior to the Labour Day holiday, the aluminium processors operating rate recorded a downfall of 6 percentage points. Due to the hard-hit on domestic automobile manufacturing industry caused by the COVID-19 pandemic, the demand for automotive alloy and industrial extrusion has fallen short of expectations but likely to recover driving the production across aluminium processing enterprises with operation resumption across auto makers in Jiangsu, Zhejiang, and Shanghai. The average operating...
LME aluminium price gains US$35/t to close at US$2723/t; SHFE rebounds to exceed US$3000/t again
Three-month LME aluminium opened at US$2,785 per tonne last Friday and closed at US$2,828 per tonne, an increase of US$42 per tonne or 1.51 per cent. On Friday, May 13, LME aluminium cash bid price and LME aluminium official settlement price rose for an alternate day by US$35 per tonne to stand at US$2,721 per tonne and US$2,723 per tonne, respectively. That made the prices closed higher at the end of the week by US$15 per tonne compared to the prices of Monday, May 9. 3-month bid price and 3-month offer price grew by US$26 per tonne and US$27 per tonne, respectively, to come in at US$2,748 per tonne and US$2,750 per tonne on the same day. Dec-23 bid price and Dec-23 offer price settled at US$2,723 per tonne and US$2,728 per tonne, up by US$25 per tonne from Thursday, May 12. LME...
Vedanta’s aluminium ingot price gains INR2000/t with effect from Saturday, May 14
Vedanta Limited has increased its aluminium ingot and aluminium products prices, with effect from Saturday, May 14, as the LME aluminium benchmark price regained by US$35 per tonne on Friday, May 13. On Thursday, Vedanta’s aluminium prices were slashed by INR 3,000 per tonne in response to the LME price fall by US$49 per tonne on the previous day. The company’s aluminium ingot price has witnessed a growth of INR 2,000 per tonne from INR 241,250-276,950 per tonne to INR 243,250-278,950 per tonne as of May 14. Vedanta’s aluminium wire rod price has also been raised by INR 2,000 per tonne, with effect from May 14, to stand at INR 250,750-258,250 per tonne versus INR 248,750-256,250 per tonne on May 13. Vedanta’s aluminium billet price has come in at INR 251,250 per tonne, seeing the same...
LME aluminium benchmark price touched five-month low this week; SHFE closed higher at US$2,968/t
The LME aluminium benchmark price increased this week by US$15 per tonne but touched the five-month for an intermittent period. On Monday, May 9, LME aluminium cash bid price and LME aluminium official settlement price started the week with a decline to US$2,707 per tonne and US$2,708 per tonne and extended downfall the next day to US$2,676 per tonne and US$2,677 per tonne, the lowest in the past five months. On Wednesday, May 11, the prices grew by US$60 per tonne or 2.24 per cent to rest at US$2,736 per tonne and US$2,737 per tonne but again fell Thursday, May 12, by over 1.5 per cent to settle at US$2,686 per tonne and US$2,688 per tonne, respectively. However, on Friday, May 13, both LME aluminium cash bid price and LME aluminium official settlement price rebounded at US$2,721 per...
Hindalco raises its aluminium products prices by INR4750/t in response to intermittent LME price rise
Hindalco Industries Limited has finally raised its aluminium ingot and aluminium products prices, with effect from Thursday, May 12, after more than two weeks of back-to-back cuts for the LME aluminium price fall. Now, the company is selling its aluminium billets price at INR 258,600 per tonne versus INR 253,850 per tonne on May 11. That’s an increase of INR 4,750 per tonne or 1.87 per cent in a day. Hindalco’s aluminium wire rod price also saw a growth of INR 4,750 per tonne on May 12 from INR 250,850 to INR 255,600 per tonne. Aluminium ingot price was no exception but witnessed a rise of the same amount to reach INR 244,500 per tonne. On Wednesday, May 11, Hindalco’s aluminium ingot price stood at INR 239,750 per tonne. As Hindalco links its aluminium prices to the three-month futures...
JNARDDC and CGCOST team up to evaluate bauxite deposits in Chhattisgarh, bringing benefits to the domestic aluminium sector
According to a report published on Friday, May 13, a Memorandum of Understanding (MoU) has been signed between the Chhattisgarh Council of Science and Technology (CGCOST), Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC), and Ministry of Mines on Wednesday, May 11, for conducting a geotechnical evaluation of bauxite deposits in Chhattisgarh. The project is called Geotechnical Evaluation of Bauxite Reserves in Chhattisgarh. As part of the project, CGCOST and JNARDDC will together prepare a district-wise digital database of bauxite and laterite deposits using a geo-referenced map and make an assessment of the deposits leveraging space technology. The reason behind this project is to explore more bauxite deposits as the domestic aluminium industry is facing a...
Primary aluminium inventories in China decline W-o-W by 30,000 tonnes to total 1 million tonnes
According to the Shanghai Metals Market, social inventories of primary aluminium continued to decrease across eight major consumption areas, including SHFE warrants. On a weekly basis, inventories decreased by 30,000 tonnes, while on a year plunged by 58,000 tonnes to come in at 1 million tonnes on May 12, 2022. Inventories dropped as traders were motivated to sell, and shipments were smooth across several regions. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories plunged by 16,000 tonnes week-on-week to stand at 469,000 tonnes due to active sales and slower arrivals. Inventories in Nanhai and Hangzhou decreased by 8,000 tonnes and 7,000 tonnes, respectively, to settle at 214,000 tonnes and...
China’s secondary aluminium operating rate drops to 33.1% in April’22 for scanty raw materials and production shut
According to the Shanghai metals Market, China’s average operating rate of secondary aluminium recorded a drop of 12.3 percentage points month-on-month to close at 33.1 per cent in April. The resurgence of COVID pandemic was the main reason behind the downfall. The situation deteriorated since March, hitting Shanghai, Jiangsu, and Jilin the hardest, leading to production cuts at a number of local manufacturers. Some large ones had to even halve their production. Disruption of transportation also caused the downfall of secondary aluminium operating rate. The onset of the fresh wave of COVID put transportation restrictions that hindered the procurement of aluminium scrap, forcing some manufacturers to reduce production for the lack of raw materials. The pandemic also disturbed the import of...
Tiwai Aluminium seeks a pathway to a secured future beyond 2024, in search of a power supplier for the smelter
The Tiwai Point Aluminium Smelter, owned by New Zealand Aluminium Smelters Limited (NZAS), is now focused on securing the future beyond its closing date in 2024. On Tuesday, May 10, NZAS chief executive Chris Blenkiron said in a community forum that he is seeking a pathway for the smelter to enable it to continue its operations beyond 2024, for which he intends to meet energy generators to achieve power supply for the smelter before the end of 2022. According to him, it is important to get clarity about the future to avoid ambiguity among people. He said, “My biggest impact on morale is to get a future beyond 2024 and to get clarity. A lot of people get impacted by the ambiguity, it impacts Southland in general saying ‘are we open or are we closed’... for me that’s the focus, to get rid...
Hardys to introduce three new varieties of wine in aluminium cans, expects recycling growth
Hardys, the no.1 Australian Wine brand in the United Kingdom, will reportedly introduce three new varieties of wine in aluminium cans next month to make a debut in the on-the-go market. The varieties, comprised of rosé, chardonnay, and shiraz, will appear on trade and festivals this summer. According to the brand manager Lindsay Holas, the launch of new varieties of wine in aluminium cans will appeal younger shoppers, letting them enjoy their drinks on-the-go format. Also, the use of aluminium will open up easy- to-recycle option. “Offering a convenient and easily recycled option, we’re expecting the cans to be a hit at festivals in the next few months, whilst also performing well in retail, with their compact size making them perfect for picnics and outdoor summer occasions,” said Holas....
