AlCircle News Edited By "Debanjali Sengupta"
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NALCO’s aluminium ingot price is slashed by INR40,600/t to INR 305,850-309,350/t on March 11
National Aluminium Company Limited (NALCO) has slashed its aluminium ingot and aluminium products prices, with effect from Friday, March 11, in tandem with the lowering trend after March 9. NALCO has reduced its aluminium ingot price sharply by INR 40,600 per tonne or 11.72 per cent to INR 305,850-309,350 per tonne. With effect from March 8, the ingot price stood at INR 346,450-349,950 per tonne, seeing an exponential growth of INR37,200 per tonne. NALCO’s aluminium wire rod price has also seen a cut of INR 40,600 per tonne on March 11 to come in at INR 308,350-312,700 per tonne from INR 348,950 – 353,300 per tonne on March 8. NALCO’s aluminium billets selling price is now hovering around INR 309,300-311,950 per tonne versus the earlier price of INR 349,900- 352,550 per tonne. NALCO links...
Primary aluminium weekly recap: NALCO’s aluminium ingot price sees 12% growth in line with LME aluminium new high; Lord Barker steps down as En+ Group chairman
Sanctions on Russia for its invasion of Ukraine, resulting in supply disruptions and metal price rally, has been occupying the news headlines in the global aluminium industry for over a week now. This week, the LME aluminium benchmark price touched a new high US$3,984.50 per tonne on March 7 but stepped down the next day to US$3,500.50 per tonne. However, on the two following days, the LME price rose to US$3,532 per tonne and US$3535 per tonne, which closed the week lower on March 11 by US$63 per tonne to US$3,472 per tonne. To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-touched-new-high-this-week-before-closing-at-us3-472-t-shfe-fell-behind-lme-at-us3455-t-77820 But A00 aluminium ingot price in China mostly saw declines through the week. It started with a hike...
LME aluminium benchmark price touched new high this week before closing at US$3,472/t; SHFE fell behind LME at US$3455/t
LME aluminium cash bid price and LME aluminium official settlement price opened the week on March 7 with a new high, driven by metal supply disruptions due to increased international sanctions of Russia. Both the prices augmented by US$133.5 per tonne or 3.46 per cent to peg at US$3,983.50 per tonne and US$3,984.50 per tonne. The next day, March 8, the prices plummeted by US$483.50 per tonne and US$484 per tonne to come in at US$3,500 per tonne and US$3,500.50 per tonne, respectively. However, on March 9, LME prices rose again, buoyed by the pertinent danger of the ongoing Russia-Ukraine crisis, to settle at US$3,530 per tonne and US$3,532 per tonne. The prices increased subsequently, although much lower, on March 10 to US$3,534 per tonne and US$3,535 per tonne, but closed the week on...
Hydro puts a new electric boiler into operation at Alunorte alumina refinery
As part of the commitment to become carbon neutral by 2050, Hydro has reportedly brought in a change in the use of energy by inaugurating the operation of a new electric boiler, equipped with more modern technology and greater capacity, at its Alunorte alumina refinery. The boiler will be able to cut carbon emissions by 100,000 tonnes per year, with steam generation capacity of about 95 tonnes per hour, consuming 60 megawatts. The installation of a new electric boiler has costed Hydro BRL 42 million and taken about 20 month time. Initially, the boiler will operate with energy purchased from the market. Hydro is also studying the addition of two more electric boilers, expected to start operating in 2024. Carlos Neves, Hydro’s director of operations for Bauxite & Alumina in Brazil, said:...
Hindalco’s aluminium ingot price dips by 1% to INR306,500/t with effect from March 11
After increasing aluminium ingot and aluminium products prices on March 10, Hindalco Industries Limited cuts them the next day. With effect from Friday, March 11, the company has reduced its aluminium ingot price by INR 2,750 per tonne or 0.90 per cent to INR 306,500 per tonne. On March 10, the price was raised by INR 2,500 per tonne to INR 309,250 per tonne. Hindalco has also axed its aluminium wire rod price by INR 2,750 per tonne from INR 320,350 per tonne on March 10 to INR 317,600 per tonne on March 11. With effect from March 11, the company’s aluminium billets selling price has come in at INR 320,600 per tonne versus INR 323,350 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which grew...
US alumina imports record a quarterly rise of 22% to 411000 tonnes in 4Q2021, but imports in H2 reflect a 6.5% fall
The United States alumina imports in the fourth quarter of 2021 recorded a Q-o-Q rise of 22.32 per cent to 411,000 tonnes, unlike bauxite imports which fell during the said period by 11 per cent, found the USGS data. In Q3 2021, the United States imported 336,000 tonnes of alumina, which was, however, down by 12.27 per cent from 383,000 tonnes in Q2. On a year-on-year calculation, the United States alumina imports in Q4 2021 stood 30.89 per cent higher than 314,000 tonnes. But the United States alumina imports in the second half of the year edged 6.51 per cent downfall from 799,000 tonnes in H1 to 747,000 tonnes. But compared to H2 2020, the imports during the same period this year registered an increase of 19.33 per cent from 626,000 tonnes. In full-year 2021, the United States alumina...
LME aluminium price grows slightly by US$3/t to US$3535/t; SHFE price outperforms LME standing at US$3455/t
Three-month LME aluminium opened at US$3,302 per tonne on Thursday, March 10, and hit a high and low of US$3,557.5 per tonne and US$3,302 per tonne, respectively, before closing at US$3,400 per tonne. A low level of inventory across the globe amid tight demand-supply situation due to geopolitical risks for the ongoing Ukraine-Russia war is continuing to elevate the LME aluminium prices. However, on Thursday, December 10, both LME aluminium cash bid price and LME aluminium official settlement price gained slightly compared to the previous days. While the formed grew by US$4 per tonne to stand at US$3,534 per tonne, the latter climbed by only US$3 per tonne to close at US$3,535 per tonne. On the other hand, 3-month bid price and 3-month offer price dipped by US$3 per tonne and US$4 per...
United States crude and dried bauxite imports reflect a rise of 16.5% in H2 2021 amid a drop in Q4 to 784,000 tonnes: USGS
In the fourth quarter (Q4) of 2021, the United States imported 784,000 tonnes of crude and dried bauxite, a decrease of 97,000 tonnes or 11 per cent quarter-on-quarter from 881,000 tonnes. The imports in the third quarter, on the other hand, were 20.03 per cent higher than 734,000 tonnes in Q2. On a year-on-year calculation, the United States’ crude and dried bauxite imports in 4Q2021 registered an increase of 7,000 tonnes or 0.90 per cent from 777,000 tonnes. In the second half of 2021, the United States’ crude and dried bauxite imports totalled 1.665 million tonnes – 16.52 per cent more than 1.429 million tonnes in the first half of the year. In full-year, the imports came in at 3.09 million tonnes, reflecting a downfall of 2.83 per cent from 3.18 million tonnes in 2020. Jamaica...
Primary aluminium inventories in China further gain 20,000 tonnes this week on wait-and-watch downstream sentiment
According to the Shanghai Metals Market, social inventories of primary aluminium have built up by 20,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants. Data shows inventories have come in at 1.14 million tonnes on March 10 compared to 1.12 million tonnes last Thursday, March 3. Smelters and traders were in a rush to sell aluminium ingots due to growing aluminium prices, but downstream buyers showed a strong wait-and-watch sentiment. The chart below indicates the current status of primary aluminium inventories across China in more details: Primary aluminium inventories have seen the highest growth in Wuxi this week by 16,000 tonnes to stand at 434,000 tonnes, followed by the increase of 8,000 tonnes in Nanhai to stand at 269,000 tonnes, found...
Hindalco’s aluminium wire rod price grows by INR2500/t on March 10 after a massive cut on previous day
Hindalco Industries Limited has revised its aluminium products and aluminium ingot prices back-to-back for the third day in a row, in tandem with the LME aluminium price movement. With effect from Thursday, March 10, Hindalco has increased its aluminium wire rod price by INR 2,500 per tonne to INR 320,350 per tonne, following a massive cut of INR 40,500 per tonne on the previous day to INR 317,850 per tonne. Hindalco’s aluminium billets price has also seen a raise of INR 2,500 per tonne on March 10 from INR 320,850 per tonne to INR 323,350 per tonne. Aluminium ingot price has come in at INR 309,250 per tonne, also up by INR 2,500 per tonne from INR 306,750 per tonne on March 9. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the...
Alumina production in China sees a dent in February 2022 as a result of new Covid cases in Guangxi
According to the Shanghai Metals Market, alumina production in China during February 2022 (28 calendar days) stood at 5.47 million tonnes versus 6.5 million tonnes in January (31 calendar days). That reflected a downfall of 15.85 per cent month-on-month. The output of metallurgical-grade alumina stood at 5.27 million tonnes in February compared to 6.28 million tonnes a month ago. According to the Shanghai Metals Market, the average daily output of metallurgical-grade alumina in February 2022 stood at 188,000 tonnes. Impact on the roasting capacity of alumina refineries in Shandong due to heating season policy and strict environmental protection was one of the primary reasons for the decline in alumina output during February. In Shanxi, alumina output decreased by 21 per cent...
China’s A00 aluminium ingot price falls sharply for the third consecutive day below RMB22000/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has continued to plunge for the third consecutive day to stand below RMB 22,000 per tonne. Data shows the price has come in at RMB 21,500 per tonne, reflecting a decrease of RMB 560 per tonne from RMB 22,060 per tonne on March 9. The average prices are likely to range between RMB 21,480 per tonne and RMB 22,520 per tonne, with spot contract to be traded at a premium price of RMB 40-0 per tonne. In Foshan, A00 aluminium ingot price has plummeted by RMB 590 per tonne to stand at RMB 21,430 per tonne, followed by the decline of RMB 560 per tonne in Wuxi, Chongqing, and Shenyang to peg at RMB 21,490 per tonne, RMB 21,400 per tonne, and RMB 21,540 per tonne, respectively. In Hangzhou, Tianjin, and Linyi, primary...
Alumina production in South America records M-o-M fall of 1% to 995,000t in Jan’22; Output in North America slips by 2%
In South America, alumina production in January 2022 stood at 995,000 tonnes, reflecting a month-on-month downfall of 9,000 tonnes or 0.90 per cent, found the International Aluminium Institute data. In December 2021, alumina output stood in South America came in at 1,004,000 tonnes, up by 6.24 per cent from 945,000 tonnes in November. In the fourth quarter of 2021, alumina production in South America amounted to 2.934 million tonnes, 3.67 per cent higher than 2.830 million tonnes in Q3 but 2.52 per cent less than 3.010 million tonnes in Q4 2020. On a year-on-year basis, South America’s alumina production in January 2022 recorded a decrease of 6.92 per cent from 1.069 million tonnes. In full-year 2021, alumina output in South America totalled 12.111 million tonnes, up by 2.81 per cent from...
China’s daily aluminium output grows M-o-M to 105,000 tonnes in Feb’22 amid new operating capacities or resumption
China’s aluminium production in 28 days of February 2022 reflected a positive trend with a daily average output of 105,000 tonnes, up by 2,000 tonnes from 103,000 tonnes a month earlier. Total production in the month came in at 2.95 million tonnes versus 3.204 million tonnes in January (31 days). However, on a year-on-year basis, the output dipped 2.3 per cent from 3.02 million tonnes, showed the Shanghai Metals Market data. Output in the past two months of 2022 amounted to 6.15 million tonnes, which was also down by 3 per cent from 6.34 million tonnes of production during the same period last year. The increase in daily average production leading to a stable flow of monthly output in February could be attributed to the recommencement of production at aluminium smelters or the beginning...
US aluminium crude metals and alloys imports from Russia improve 42% in H2 2021; but sanctions may impact imports ahead
According to latest data reported by the US Geological Survey, the United States’ aluminium crude metals and alloys imports from Russia rebounded to 22,900 tonnes in December 2021, seeing a sharp rise of 165.35 per cent month-on-month. In November 2021, the imports plummeted by 63.43 per cent to 8,630 tonnes from 23,600 tonnes in October. That brought the total amount of the United States’ aluminium crude metals and alloys imports from Russia in the last quarter of 2021 (Q4) to 55,130 tonnes, down by 4.73 per cent or 2,740 tonnes from 57,870 tonnes in Q3 2021. Nonetheless, the United States aluminium crude metals and alloys imports from Russia in H2 2021 increased by 41.96 per cent from 79,600 tonnes in H1 to 113,000 tonnes. On a year-on-year calculation, the United States’ aluminium...
Hindalco Industries sharply cuts its aluminium ingot price by INR40500/t as LME price plummets by US$484/t
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from Wednesday, March 9, in response to LME aluminium price plunge after a week of unabated growth. Hindalco has axed its aluminium ingot price by INR 40,500 per tonne or 11.66 per cent to INR 306,750 per tonne. On March 8, the price was raised by INR 14,750 per tonne to INR 347,250 per tonne. The company’s aluminium wire rod price also saw a sharp cut of INR 40,500 per tonne from INR 358,350 per tonne on March 8 to INR 317,850 per tonne on March 9, 2022. Aluminium billets price has come in at INR 320,850 per tonne, with effect from March 9, as against INR 361,350 per tonne on March 8. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium...
LME aluminium price nosedives to US$3500.50/t after a week of unabated growth; SHFE price declines to US$3497/t
Three-month LME aluminium opened at US$3,740 per tonne on Tuesday, March 8, and hit a high of US$3,900 per tonne before closing at US$3,681 per tonne, a drop of US$59 per tonne or 1.58 per cent. After an uninterrupted rise through the week nearing US$4000 per tonne, LME aluminium cash bid price and LME aluminium official settlement price plummeted by US$483.50 per tonne and US$484 per tonne to come in at US$3,500 per tonne and US$3,500.50 per tonne on Tuesday, March 8. 3-month bid price and 3-month offer price nosedived by US$452 per tonne to settle at US$3,514 per tonne and US$3,516 per tonne, respectively. December 23 bid price and December 23 offer price closed lower at US$3,245 per tonne and US$3,250 per tonne. LME aluminium opening stock further decreased to 779350 tonnes,...
NALCO’s aluminium ingot price sees a never-before hike of US$37200/t to range between INR346,450-349,950/t
National Aluminium Company Limited’s (NALCO) aluminium ingot and aluminium products prices have witnessed an exponential rise on Tuesday, March 8, in tandem with the incessant LME aluminium price rally for over a week close to US$4,000 per tonne. NALCO has raised its aluminium ingot price by INR 37,200 per tonne or 12 per cent to the range of INR 346,450-349,950 per tonne as of March 8. A week ago, with effect from March 1, the price stood at INR 309,250-312,750 per tonne, after being expanded by INR 8,800 per tonne from the previous day. NALCO’s aluminium wire rod price also soared by INR 37,200 per tonne, with effect from March 8, to score at INR 348,950 – 353,300 per tonne versus INR 311750-316,100 per tonne on March 1. Aluminium billets price came in at 349,900- 352,550 per tonne,...
