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.
Operation resumption at aluminium enterprises further lifts A00 aluminium ingot price by RMB150/t; caustic soda price gains RMB15/t
A00 aluminium ingot price in China has extended growth by RMB 150 per tonne on Thursday, May 12, to stand at RMB 20,270 per tonne, found the Shanghai Metals Market. The average prices are estimated to range between RMB 20,250 per tonne and RMB 20,290 per tonne, with spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. The price hike is supported by normal resumption of production at most of the aluminium enterprises. As the impact of the pandemic has subsided, more enterprises are resuming their operations, boosting the market trading confidence. In Wuxi and Hangzhou, the primary aluminium ingot price has increased by RMB 140 per tonne to hover around RMB 20,270 per tonne and RMB 20,320 per tonne, followed by a hike of RMB 130 per...
Novelis announces record net sales of $17.1 billion for FY2022, buoyed by robust aluminium FRPs shipments of 3.858 Mt
Novelis Inc., the world’s leader in aluminium rolling and recycling, has announced its fourth quarter and full-year results of the financial year 2022. It has mentioned in the report a Y-o-Y hike of 21 per cent in net income from continuing operations for the quarter ended March 31 to $217 million, supported by record shipments of 987,000 tonnes compared with 983,000 tonnes during the same period last year. Adjusted EBITDA, however, declined by 15 per cent over the year to $431 million during 4QFY22, owing to short-term operational cost challenges. For the full fiscal year 2022, the company has announced a record income from continuing operations of $1.0 billion. That was an increase of 122 per cent from the previous year. Net income from continuing operations excluding special items also...
NALCO’s aluminium ingot price axed by INR27200/t on May 11 in line with LME price fall to the lowest this year
National Aluminium Company Limited has sharply axed its aluminium ingot and aluminium products prices for the third consecutive time since April 28, in response to the continued downfall in the LME aluminium benchmark price for over a week. More so, on Tuesday, May 10, the LME aluminium benchmark price declined by US$31 per tonne to record a 5-month low at US$2,677 per tonne. Since the beginning of May, the LME price has registered a downfall of US$234.50 per tonne from US$2,911.50 per tonne. In response to this, NALCO has chopped its aluminium ingot selling price by 10 per cent or INR 27,200 per tonne to INR 239,650 – 243,150 per tonne. The last cut on May 1 was by INR 5,800 per tonne to INR 266850-270,350 per tonne. NALCO’s aluminium wire rod and billets prices have also witnessed a cut...
Hindalco Industries back-to-back cuts aluminium ingot price by INR2500/t as LME records 5-month low
Hindalco Industries Limited has further trimmed its aluminium ingot and aluminium products prices, following a major cut on the preceding day, May 10. As per the revised prices revealed on May 11, Hindalco has cut its aluminium ingot price by INR 2,500 per tonne to INR 239,750 per tonne. On Tuesday, May 10, the price stood at INR 242,250 per tonne, seeing a slash of INR 8,500 per tonne. Hindalco back-to-back cuts its aluminium prices in response to the lowest LME aluminium price in five-month time. On Tuesday, May 10, the LME aluminium benchmark price declined by US$33 per tonne from the previous day to US$2,677 per tonne as funds were being bet on lower prices due to decreasing demand. On a month-on-month calculation, the price stood around 17 per cent down from US$3,234.50 per tonne....
Vedanta Limited cuts aluminium wire rod & billet prices by 3% with effect from May 10
Vedanta Limited is continuing to cut its aluminium products and aluminium ingot prices in line with the incessant downfall of the LME aluminium benchmark price. On Tuesday, May 10, Vedanta slashed its aluminium wire rod price by INR 8,250 per tonne or 3.2 per cent to INR 249,750 - 257,250 per tonne. On May 7, the prices hovered around INR 258,000 – 265,500 per tonne. Vedanta’s aluminium billet price also saw a cut of 3.20 per cent or INR 8,250 per tonne on May 10 from INR 258,500 per tonne to INR 250,250 per tonne. Aluminium ingot price came in at INR 242,250 – 277,950 per tonne, down by INR 8,250 per tonne as well from INR 250,500 – 286,200 per tonne. Vedanta continues to cut its aluminium prices in response to the incessant decline in the three-month futures of aluminium on the London...
China’s social inventories of primary aluminium dip over the weekend by 3000 tonnes but Gongyi sees a rise of 10,000 tonnes
As of Monday, May 9, social inventories of primary aluminium dipped over the weekend by 3,000 tonnes but rose week-on-week by 43,000 tonnes, found the Shanghai Metals Market data. Thus, the inventories came in at 1.03 million tonnes across eight major consumption areas, including SHFE warrants. The chart below indicates the current status of primary aluminium inventories across China in more details: Except all the Chinese provinces, Gongyi saw an increase of 10,000 tonnes in inventories over the week to 112,000 tonnes owing to the arrivals of delayed shipments from Xinjiang and decline in cargo pick-up from local warehouses caused by the holidays. In Wuxi, inventories decreased by 6,000 tonnes from that on May 5 to stand at 479,000 tonnes. Cargo pick-up was normal while arrivals were...
Vedanta Aluminium signs MoU with NFSU to build stronger security professionals for its own
On Tuesday, May 10, Vedanta Aluminium, India’s largest aluminium producer, has announced the signing of a Memorandum of Understanding (MoU) with the National Forensic Sciences University (NFSU) to conduct research, training and academic activities for its security professionals. The news came after Mr. Avtar Singh, Chief Security and Intelligence Officer of Vedanta’s Aluminium Business and Prof. (Dr.) Purvi Pokhariyal, Campus Director of NFSU, signed the MoU in the presence of Dr. J.M. Vyas, Hon. Vice Chancellor of NFSU. In partnership with NFSU, Vedanta Aluminium looks forward to give opportunities to its security professionals to learn from the world’s most renowned and the one and only Forensic Science University and induce a transformational shift in the company’s security and...
Hindalco increases its price cut rate to 3.25% bringing aluminium wire rod price to INR253350/t
Hindalco Industries Limited has continued to slash its aluminium products and aluminium ingot prices, with effect from May 10, 2022. This marks the seventh consecutive price cut by Hindalco since April 21. On May 10, Hindalco’s aluminium wire rod price has come in at INR 253,350 per tonne, down by INR 8,500 per tonne or 3.25 per cent compared to the cut of INR 4,750 per tonne on Saturday, May 7. On May 7, Hindalco aluminium wire rod price stood at INR 261,850 per tonne. The latest cut has brought Hindalco’s aluminium billets price to INR 256,350 per tonne, also down by INR 8,500 per tonne from INR 264,850 per tonne on May 7. The company’s aluminium ingot price is no exception but seen a slash of the same amount to come in at INR 242,250 per tonne, with effect from May 10. Hindalco has...
China’s daily average aluminium production grows 3000 tonnes M-o-M in April’22 in spite of a marginal fall in monthly output
According to the Shanghai Metals Market data, China’s aluminium production in April 2022 stood at 3.298 million tonnes, registering an increase of 1.47 per cent year-on-year but a marginal drop from the previous month. However, the daily average output grew by 3,000 tonnes month-on-month to 109,900 tonnes. On a year-on-year calculation, the output recorded a rise of 1,600 tonnes. From January to April 2022, China’s aluminium production totalled 12.763 million tonnes, a decrease of 1.13 per cent on the year. The decline in China’s monthly aluminium output during April 2022 could be attributed to the slower resumption of domestic production or commencement of new capacity in the said month compared with the first quarter. The new production, production capacity replacement, and production...
A00 aluminium ingot price declines for the fourth day to RMB19640/t; imported bauxite price from Guinea grows by $2/t after over a month
A00 aluminium ingot price in China has decreased for the fourth day in a row by RMB 140 per tonne to stand at RMB 19,640 per tonne as of Tuesday, May 10, according to the Shanghai Metals Market data. The average prices are estimated to range between RMB 19,620 per tonne and RMB 19,660 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne. In Gongyi, A00 aluminium ingot price has seen the highest decline of RMB 180 per tonne to RMB 19,690 per tonne, followed by the plunge of RMB 140 per tonne in Hangzhou and Wuxi to RMB 19,710 per tonne and RMB 19,640 per tonne, respectively. In Foshan and Linyi, the primary aluminium ingot price has slipped by RMB 110 per tonne and RMB 100 per tonne to come in at RMB 20,333 per tonne and RMB 19,840 per tonne, while the price...
Vedanta Limited reduces aluminium wire rod price by 1% with effect from May 6
Vedanta Limited further reduced its aluminium products and aluminium ingot prices on May 6, in response to the LME aluminium benchmark price fall. The company cut its aluminium wire rod price by INR 2,250 per tonne to INR 263,000 – 270,500 per tonne versus INR 265,250 -272,750 per tonne on May 5. Vedanta’s aluminium billet price came in at INR 263,500 per tonne, with effect from May 6, down by INR 2,250 per tonne or 99.9 per cent from INR 265,750 per tonne on May 5. Aluminium ingot price stood at INR 255,500 – 291,200 per tonne after being cut by INR 2,250 per tonne as well. Vedanta further cut its aluminium prices on May 6 in tandem with the decline in the three-month futures of aluminium on the London Metal Exchange by US$12 per tonne to US$2,917 per tonne. On a month-on-month...
Hindalco Industries’ aluminium ingot price declines by INR2250/t with effect from May 6
Hindalco Industries’ aluminium ingot and aluminium products prices again saw a cut on Friday, May 6, but at a lower rate compared to the previous day. According to the latest price list, the company reduced its aluminium ingot price by INR 2,250 per tonne or 0.87 per cent to INR 255,500 per tonne. On a day ago, May 5, the ingot price stood at INR 257,750 per tonne, experiencing a slash of INR 9,000 per tonne. Hindalco’s aluminium wire rod price also saw a cut of INR 2,250 per tonne to INR 266,600 per tonne, with effect from May 6, to be sold at INR 266,600 per tonne. Aluminium billets price came in at INR 269,600 per tonne, down by 0.83 per cent or INR 2,250 per tonne as well from INR 271,850 per tonne. Hindalco further cut its aluminium prices on May 6 in tandem with the decline in the...
China’s primary aluminium inventories build-up by 46,000 tonnes W-o-W as operating rates recover from pandemic
On May 5, 2022, social inventories of primary aluminium in China gained 46,000 tonnes week-on-week, marking a rise after three consecutive weeks of fall. According to the Shanghai Metals Market data, the inventories totalled 1.03 million tonnes this week across eight major Chinese consumption areas, including SHFE warrants, albeit down by 82,000 tonnes a year ago. The week-on-week rise in primary aluminium inventories is attributable to higher arrivals of stocks due to the recovery in operating rates after the improvement of the pandemic situation, but some buyers still remain cautious about purchase in light of the pandemic. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi, primary aluminium inventories jumped by 37,000...
Hindalco’s aluminium billets price sees a fifth consecutive cut of INR9000/t with effect from May 5
Hindalco Industries Limited’s aluminium products and aluminium ingot prices continued to see a plunge on May 5 for the fifth consecutive time since April 21, 2022. As per the latest price list revealed by the company, aluminium billets price saw a cut of 3.2 per cent or INR 9,000 per tonne to come in at INR 271,850 per tonne. About a week ago, on April 30, Hindalco’s aluminium billets price stood at INR 280,850 per tonne, witnessing a downfall of 0.97 per cent from April 29. Hindalco has slashed its aluminium wire rod price by INR 9,000 per tonne as well on May 5 to sell the product at INR 268,850 per tonne versus INR 277,850 per tonne on April 30. Aluminium ingot price, being no exception but witnessed a cut of INR 9,000 per tonne, came in at INR 257,750 per tonne, with effect from May...
Odisha government to host a two-day event to showcase downstream investment opportunities at Angul Aluminium Park
The Odisha government has reportedly planned to host a two-day event - Advantage Angul, intending to showcase investment opportunities in downstream and ancillary industries of aluminium and steel sectors in Angul district, Odisha. The government has planned this event after Union Minister R P Singh inaugurated one of the world’s largest and most modern TMT Rebar mills in Angul a few days ago. The event is scheduled on Monday and Tuesday at the Angul Aluminium Park, jointly developed by NALCO and state-owned Idco. Chief minister Naveen Patnaik is expected to attend the event virtually. According to state industries secretary Hamanta Sharma, major players like NALCO, Tata Steel, JSPL, and others will bring prospective investors from the metal downstream sector to the event to let them...
Ball Corporation reports higher net earnings of $446 million on net sales of $3.7 billion
On May 5, 2022, Ball Corporation, the world’s leading aluminium packaging company, announced its first quarter 2022 financial results, declaring net earnings of $446 million or $1.37 per diluted share attributable to net sales of $3.7 billion. A year ago, the company’s net earnings were $200 million or 60 cent per diluted share on sales of $3.1 billion. Ball’s first quarter 2022 comparable net earnings were $252 million or 77 cent per diluted share compared to $240 million or 72 cents per diluted share during the same period last year. From its beverage packaging business in North and Central America, Ball Corporation reported comparable segment operating earnings of $174 million for 1Q2022 on sales of $1.6 billion, as against $140 million on sales of $1.3 billion during 1Q2021. Increase...
NALCO reduces its aluminium ingot price by INR5800/t with effect from May 1
National Aluminium Company Limited further reduced its aluminium ingot and aluminium products prices just after two days from the last cut. With effect from May 1, 2022, NALCO slashed its aluminium ingot price by INR 5,800 per tonne compared to the cut of INR 10,000 per tonne on April 28. Since, the latest cut, the company’s ingot price is ranging between INR 266850-270,350 per tonne versus INR 272,650 – 276,150 per tonne. NALCO’s aluminium wire rod price also witnessed a cut of INR 5,800 per tonne on May 1 from INR 275,150 – 279,500 per tonne to INR 269,350-273,700 per tonne. Aluminium billets price came in at INR 270,300-272,950 per tonne, down by 2.1 per cent from INR 276,100 – 278,750 per tonne. NALCO links its aluminium ingot and aluminium products prices to the three-month future...
Vedanta’s aluminium wire rod & billet prices see a sharp downfall of INR10500/t with effect from May 4
Vedanta Limited further reduced its aluminium products and aluminium ingot prices, with effect from May 4, 2022, for the fifth consecutive time since April 23. According to the revised prices, Vedanta is currently selling its aluminium wire rod at INR 263,500-271,000 per tonne after cutting it by INR 10,500 per tonne or 3.8 per cent from INR 274,000-281,500 per tonne on April 30. Vedanta’s aluminium billet price also saw a slash of INR 10,500 per tonne on May 4 from INR 274,500 per tonne to INR 264,000 per tonne. Aluminium ingot price also experienced a cut of the same amount to stand at INR 256,000- 291,700 per tonne. On the previous day, April 30, Vedanta’s aluminium ingot price stood at INR 266,500-302,200 per tonne, sliding by INR 3,000 per tonne or 1.11 per cent. Vedanta Limited...
