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.
Primary aluminium weekly recap: China’s A00 aluminium ingot price uptrends on improved buying sentiment, German companies support sanctions against Russia
This week continued to witness a downtrend in the global aluminium benchmark price, so much so that it stood month-on-month lower for a day. The LME aluminium price started the week at US$3,399 per tonne, reflecting a sharp downfall of US$73 per tonne from US$3,472 per tonne on March 11. The price further nosedived on March 15 by US$181.50 per tonne to come in at US$3,217.50 per tonne, month-on-month down by US$5.5 per tonne. The LME prices recorded incessant decline on the anticipation of stock release in the market. On March 13, Hydro confirmed 4000 tonnes of Russian aluminium to arrive at its Karmøy facility. On Wednesday, March 16, LME aluminium price rose for an intermittent period to US$3,306 per tonne but fell the next day to US$3,288 per tonne. To know more:...
Hindalco’s aluminium ingot price builds up by INR6750/t on March 17 as LME price rallies
After two consecutive days of cut this week, Hindalco Industries Limited increased its aluminium ingot and aluminium products prices on Thursday, March 17, relating to the recovery in LME aluminium benchmark price. Hindalco raised its aluminium ingot price by INR 6,750 per tonne to INR 288,500 per tonne, with effect from March 17. On March 16, the price stood at INR 281,750 per tonne, seeing a slash of INR 15,500 per tonne. Hindalco’s aluminium billets price also saw a hike of INR 6,750 per tonne on March 17 from INR 295,850 per tonne on March 16 to INR 302,600 per tonne. The company’s aluminium wire rod price saw a jump to INR 299,600 per tonne from INR 292,850 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London...
A00 aluminium ingot price in China further surges by RMB440/t on improved buying sentiment
A00 aluminium ingot price in China has surged for the second day in a row by RMB 440 per tonne to close the week on Friday, March 18, at RMB 22,520 per tonne, found the Shanghai Metals Market. Recovery in the downstream purchase, resulting in the fall in primary aluminium inventories this week, could be attributed to the continued rise in ingot price. The average prices are expected to range between RMB 22,500 per tonne and RMB 22,540 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne. In Tianjin, A00 aluminium ingot price has hiked by RMB 490 per tonne to stand at RMB 22,620 per tonne, followed by the increase of RMB 445 per tonne in Hangzhou to RMB 22,525 per tonne and RMB 440 per tonne in Wuxi and Shenyang to settle at RMB 22,515 per tonne and RMB...
China’s primary aluminium social inventories decline by 53,000 tonnes on improved buying sentiment
Social inventories of primary aluminium in China have decreased after six consecutive weeks of rising, owing to the improved buying sentiment among the downstream market. According to the Shanghai Metals Market, aluminium inventories have dwindled by 53,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to come in at 1.09 million tonnes versus 1.14 million tonnes last Thursday, March 10. In the spot market, the goods holders actively made shipments amid falling futures prices, along which the downstream demand picked up, reviving the tractions of aluminium ingot. Primary aluminium social inventories are expected to drop further, and the market shall watch if the resurging of COVID-19 would affect market arrivals and shipments. The chart below indicates the...
Kawneer launches a premium service to help architects design and build aluminium architecture
Kawneer, an American manufacturer of architectural aluminum systems, has reportedly launched a premium service named Kawneer Collaborative to help architects enhance their architectural visions and learn specific requirements for aluminium building systems. It guides architects in creating bespoke aluminium wall and glazing systems using Kawneer’s products. The learning includes ideation, costing, and design to visualisation, specification, and realisation, to be able to bring bold visions to reality using customisation skills. "Kawneer Collaborative can help architects, contractors and building owners to meet every individual requirement, from inspiring iconic designs to driving performance and sustainability," said Kawneer. A team of experts from Kawneer Collaborative overviews all...
Hindalco’s aluminium wire rod & billets prices decline by INR15500/t in response to bearish LME price
In response to the sharp fall in LME aluminium benchmark price by US$181.50 per tonne on March 15, Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from March 16. Hindalco’s aluminium wire rod price has experienced a cut of INR 15,500 per tonne or 5.03 per cent to INR 292,850 per tonne. On March 15, the price stood at INR 308,350 per tonne, seeing a decline of INR 5,250 per tonne. Hindalco’s aluminium billets price has also been reduced by INR 15,500 per tonne, with effect from March 16, to stand at INR 295,850 per tonne versus INR 311,350 per tonne on March 15. The latest cut has brought the company’s aluminium ingot price to INR 281,750 per tonne as against INR 297,250 per tonne on the previous day. Hindalco links its aluminium ingot...
LME aluminium price edges a hike of US$88.5/t after three consecutive days of decline; SHFE price expands to US$3472/t
LME aluminium opened at US$3,288 per tonne on Wednesday, March 16, and closed at US$3,265.50 per tonne, down by US$33.50 per tonne or 1.02 per cent. After the three consecutive days of decline from US$3,535 per tonne to US$3,217.50 per tonne, LME aluminium prices recorded a rise on Wednesday, March 16. Both LME aluminium cash bid price and LME aluminium official settlement price augmented by US$88.50 per tonne to stand at US$3,305 per tonne and US$3,306 per tonne, respectively. On the same day, 3-month bid price and 3-month offer price rose by US$73 per tonne to settle at US$3,325 per tonne and US$3,327 per tonne. December 23 bid price and December 23 offer price showed no exception but edged a hike of US$29 per tonne to close at US$3,122 per tonne and US$3,127 per tonne. LME aluminium...
NALCO aluminium ingot price experiences further cut of INR24800/t w.e.f. March 16
National Aluminium Company Limited has reduced its aluminium ingot and aluminium products prices for the second time in a row, with effect from Wednesday, March 16, 2022, in line with the continued sharp decline in LME aluminium price. With the latest cut, NALCO’s aluminium ingot price has come in at INR 281,050-284,550 per tonne, down by INR 24,800 per tonne from INR 305,850-309,350 per tonne on March 11. Aluminium wire rod price has also seen a slash of INR 24,800 per tonne on March 16 to range between INR 283,550-287,900 per tonne. Since the previous cut by INR 40,600 per tonne on March 11, NALCO’s aluminium wire rod price was being sold at INR 308,350-312,700 per tonne. With effect from March 16, aluminium billets price is standing at INR 284,500-287,150 per tonne versus INR...
Shares of Hoshion Industrial Aluminium rise on the occasion of bagging new business worth CNY4 billion
Shares of Chinese aluminium profile manufacturer - Hoshion Industrial Aluminium soared on the occasion of bagging four new clients with business prospect of CNY 4 billion (US$628.8 million). On Tuesday, March 15, Hoshion declared that it could earn CNY3.6 billion to CNY4 billion in the subsequent four to eight years, being eligible to sell battery storage products to four carmakers. Hoshion’s equity price surged by the daily limit of 10 per cent to CNY33.46 (US$5.30), but still down by more than a quarter this year. One of the new clients is a European luxury vehicle brand, another is Chinese smart electric vehicle maker, and the other two are independent Chinese brands. Obtaining the letter of intent is advantageous to forming a long-term partnership with four firms, said Hoshion. Once...
German companies in support of sanctions against Russia knowing possible impact on aluminium supplies
Last week, Germany’s BGA trade association’s survey showed that German businesses abetted Berlin’s economic sanctions against Russia for its invasion of Ukraine, knowing the ensuing economic slowdown that it could usher or threaten the supply of aluminium. German companies are joining each other in support of imposing sanctions on Russia. While corresponding with the press about the survey, BGA President Dirk Jandura pointed out that the constriction in the aluminium supply chain could turn the industry economic growth, as was predicted earlier, upside down. BGA added about two-thirds of its members expect an economic slowdown due to the sanctions. Although Germany’s trade with Russia accounts for only 3 per cent of its total overseas trading yet it is facing a challenge due to...
Imported alumina price in China gains RMB15/t after an intermittent fall; Domestic A00 aluminium ingot price grows to RMB21770/t
The average alumina spot price in China has dipped by RMB 10 per tonne on Wednesday, March 16, to stand at RMB 2,964 per tonne, found the Shanghai Metals Market. In Shandong, alumina price has decreased by RMB 25 per tonne to come in at RMB 2,910 per tonne, while the price in Shanxi has dropped by RMB 5 per tonne to peg at RMB 2,955 per tonne. But the price in Henan, Guangxi, and Guizhou has remained restrained at RMB 3,000 per tonne, RMB 2,965 per tonne, and RMB 2,940 per tonne, respectively. Meanwhile, the Australian alumina FOB price has gained US$15 per tonne to settle at US$525 per tonne on March 16, following an intermittent restraint at US$510 per tonne. Domestic A00 aluminium ingot price, on the other hand, has increased by RMB 40 per tonne to close at RMB 21,770 per tonne as of...
Hindalco’s aluminium prices decline by INR5250/t on March 15; Ingot price comes in INR297250/t
Hindalco Industries Limited cuts its aluminium ingot and aluminium products prices for the third time in a row, with effect from Tuesday, March 15, as LME aluminium benchmark price slid further by US$73 per tonne on March 14. Hindalco has reduced its aluminium ingot price by INR 5,250 per tonne to INR 297,250 per tonne vs INR 302,500 per tonne on March 12. The company has also slashed its aluminium wire rod price by INR 5,250 per tonne from INR 313,600 per tonne on March 12 to INR 308,350 per tonne on March 15. The latest cut has brought Hindalco’s aluminium billets price to INR 311,350 per tonne, down by INR 5,250 per tonne or 1.66 per cent from INR 316,600 per tonne on March 12. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on...
IAI affirms aluminium cans best support circular economy: Recycling rate of 71% outperforms glass & PET bottles
The first comprehensive research report on recycling value chain, launched by the International Aluminium Institute (IAI), shows that aluminium cans best support a circular economy than glass or plastic (PET) bottles. This claim has been established after studying through collection, sorting, reprocessing and thermal processing, closed-loop recycling, and open-loop recycling in five regions – Brazil, China, Europe, Japan, and the United States. Study shows that out of 3.7 million tonnes of aluminium cans in the market, about 0.8 million tonnes or 21 per cent end up in landfills, whereas 32.2 million tonnes or 49 per cent of 65.1 million tonnes of glass bottles and 4.5 million tonnes or 39 per cent of 11.5 million tonnes of plastic bottles go to the landfill. This indicates that the...
China’s Jan-Feb daily aluminium output records highest since mid-2021 at 107,288 tonnes, shows NBS
According to the data released by the National Bureau of Statistics, China’s aluminium output in the first two months of 2022 totalled 6.33 million tonnes, which reflected a year-on-year downfall of 1.4 per cent. During the corresponding period last year, China’s aluminium production had amounted to 6.45 million tonnes. NBS data also showed that the daily average output in January and February combined was 107,288 tonnes, the highest since June 2021, according to Reuters' calculations. Daily output rose to its highest since mid-2021 despite production curbs in the heating season and during the Winter Olympics, as smelter hubs located away from the capital Beijing maintained operations. Also, production restrictions due to the energy crisis created no impact on the daily output. China had...
LME aluminium price further declines to US$3399/t on anticipation of stock release; SHFE edges 1.36% lower
Three-month LME aluminium opened at US$3,497 per tonne on Monday, March 14, and closed at US$3,315 per tonne, down by US$165 per tonne or 4.74 per cent. On Monday, March 14, LME aluminium prices continued to decline for the second day in a row, based on the anticipation of stock release in the market. On March 13, Hydro confirmed 4000 tonnes of Russian aluminium to arrive at its Karmøy facility. On the said date, LME aluminium cash bid price fell by US$72 per tonne or 2.07 per cent to stand at US$3,398 per tonne, while LME aluminium official settlement price decreased by US$73 per tonne or 2.10 per cent to settle at US$3,399 per tonne. 3-month bid price and 3-month offer price plunged by US$89.5 per tonne and US$89 per tonne to peg at US$3,410 per tonne US$3,411 per tonne, respectively....
Hindalco’s aluminium wire rod price declines by INR4000/t on March 12 in response to LME price fall
Hindalco Industries Limited continued to reduce its aluminium products and aluminium ingot prices, with effect from Saturday, March 12, in response to LME aluminium price fall by US$63 per tonne on Friday, March 11. Hindalco cut its aluminium wire rod price by INR 4,000 per tonne to bring it to 313,600 per tonne versus INR 317,600 per tonne on March 11. Hindalco also axed its aluminium billets price by INR 4,000 per tonne on March 12 to sell the product at INR 316,600 per tonne. On March 11, the company was selling its aluminium billets at INR 320,600 per tonne, down by INR 2,750 per tonne from the previous day. With effect from March 12, the company’s aluminium ingot price stood at INR 302,500 per tonne as against INR 306,500 per tonne on March 11. Hindalco links its aluminium ingot and...
EGA, TAQA, Dubal Holding and EWEC conceive an initiative to develop solar power generation capacity and decarbonise aluminium production
According to a report on Friday, March 11, four major players in the Middle East from the aluminium and energy sector announced a joint initiative that would unlock significant development of solar power generation capacity in Abu Dhabi, progress power asset and generation optimisation, and decarbonise EGA’s aluminium production in the UAE. The companies that have conceived the initiative are - Emirates Global Aluminium (EGA), Abu Dhabi National Energy Company PJSC (TAQA), Dubal Holding, and Emirates Water and Electricity Company (EWEC). The initiative is expected to advance TAQA and Dubal Holding’s growth strategies, enable EGA to become a leader in the global aluminium industry’s net zero drive by 2050, and aid EWEC reduce carbon intensity of the energy sector. However, the initiative...
China’s A00 aluminium ingot price grows by RMB20/t to RMB21900/t, but aluminium alloy (A356) price shrinks by RMB50/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has slightly increased by RMB 20 per tonne to stand at RMB 21,900 per tonne on Monday, March 14. The average prices are expected to range between RMB 21,880 per tonne and RMB 21,920 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne. Chongqing has seen the highest growth of RMB 110 per tonne to come in at RMB 21,880 per tonne, followed by the rise of RMB 60 per tonne in Tianjin to RMB 21,920 per tonne. In Foshan, Gongyi, and Hangzhou, A00 aluminium ingot price has gained RMB 50 per tonne, RMB 40 per tonne, and RMB 25 per tonne to settle at RMB 21,870 per tonne, RMB 21,900 per tonne, and RMB 21,905 per tonne, respectively. Primary aluminium ingot price in Wuxi and Shenyang has...
