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.
Rio Tinto announces 6% QoQ decline in bauxite production to 13.1 MT in 4Q2021; Aluminium output slips 2% to 757,000 tonnes
On Wednesday, February 2, Rio Tinto announced its fourth-quarter and full-year 2021 report, revealing the bauxite output in Q4 at 13.1 million tonnes, down by 6 per cent quarter-on-quarter and 2 per cent year-on-year. In the entire year, the company’s bauxite production came in at 54.3 million tonnes, 3 per cent less than in 2020, due to severe wet weather in the first quarter impacting system stability throughout the year, equipment reliability issues and overruns on planned shutdowns at our Pacific operations. Rio Tinto also declared that its aluminium output in 4Q2021 stood at 757,000 tonnes, 2 per cent less than in 3Q2021 and 7 per cent than in 4Q2020. Full-year production was 3.151 million tonnes, slightly down by 1 per cent than in the previous year. Reduced capacity at Rio’s...
Hindalco Industries slashes its aluminium ingot price by INR3250/t with effect from February 1
Hindalco Industries Limited slashed its aluminium ingot and aluminium products prices, with effect from Tuesday, February 1, after two consecutive hikes on January 26 and 28. The company cut its aluminium ingot price by INR 3,250 per tonne to INR 264,750 per tonne. On the previous day, January 28, the company’s aluminium ingot price stood at INR 268,000 per tonne, seeing a surge of INR 5,250 per tonne. Hindalco’s aluminium wire rod price also saw a decline of INR 3,250 per tonne to INR 275,850 per tonne versus INR 279,100 per tonne on January 28. Aluminium billets price came in at INR 278,850 per tonne, compared to INR 282,100 per tonne on the previous day. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange,...
LME aluminium benchmark price drops by US$4/t to close at US$3072/t; SHFE is closed for CNY holiday
The LME aluminium benchmark price dropped slightly on Tuesday, February 1, following a plunge of US$34 per tonne on the previous day to US$3,076 per tonne. On Tuesday, February 1, LME aluminium cash (bid) price inched down by US$2.50 per tonne to stand at US$3,071.50 per tonne, while LME aluminium official settlement price dropped by US$4 per tonne to come in at US$3,072 per tonne. 3-month bid price and 3-month offer price settled lower at US$3,048 per tonne and US$3,049 per tonne, respectively. But December 23 bid price and December 23 offer price grew by US$12 per tonne to total at US$ US$2,795 per tonne and US$2,800 per tonne, for the same day. LME aluminium opening stock decreased from 799475 tonnes to 788425 tonnes. Live warrants and Cancelled warrants plunged to 445150 tonnes and...
Primary aluminium production in Russia & Eastern Europe reflects a 4% rise to 351,000 tonnes in December 2021
In December 2021, primary aluminium production in Russia & Eastern Europe stood at 351,000 tonnes, up by 12,000 tonnes or 3.54 per cent month-on-month, found the International Aluminium Institute. In November, primary aluminium production in Russia and Eastern Europe came in at 339,000 tonnes, down by 13,000 tonnes or 3.69 per cent from 352,000 tonnes in October. On a year-on-year basis, Russia & Eastern Europe’s primary aluminium production in December 2021 stood mostly unchanged compared to 352,000 tonnes. In the fourth quarter of the year (Oct-December) of 2021, primary aluminium output in Russia & Eastern Europe totalled 1.042 million tonnes versus 1.040 million tonnes in Q3 2021 and 1.043 million tonnes in Q4 2020. In the entire year 2021, primary aluminium production in Russia &...
Matalco Inc. acquires Ohio Valley Aluminum Co. LLC, high-quality 6000-series aluminum billet manufacturer
Matalco Inc., a division of Toronto-based Giampaolo Group Inc., has reportedly acquired the Ohio Valley Aluminum Co. LLC (OVACO), based in Shelbyville, Kentucky. The news came after KPMG Corporate Finance LLC, which served as the financial advisor of the OVACO, reported it officially. Founded in 1955, the OVACO is a manufacturer of high-quality 6000-series aluminum billet made from aluminium scrap for the aluminum extrusion industry. Matalco also manufactures 6000-series aluminum billet for aluminum extrusion and forging applications. The company operates six billet plants in the United States, and its seventh plant is under construction in Franklin, Kentucky. According to KPMG, the seventh plant will bring Matalco’s total capacity to 1.6 billion pounds annually. However, in context to...
Alumina production in South America grows 3.67% Q-o-Q to 2.934 MT during 4Q2021; Output in North America hikes 5.3%
In December 2021, alumina production in South America stood at 1.004 million tonnes, climbing up by 6.24 per cent month-on-month, found the International Aluminium Institute. In November, the output was 945,000 tonnes, down by 40,000 tonnes or 4.06 per cent from 985,000 tonnes in October 2021. On the other hand, on a year-on-year calculation, alumina production in South America in December 2021 stood 9.06 per cent less than 1.104 million tonnes. From October to December 2021 (Q4), South America’s alumina production totalled 2.934 million tonnes, which reflected quarter-on-quarter increase of 3.67 per cent from 2.83 million tonnes. But on a year-on-year basis, the output edged a downfall of 2.52 per cent from 3.010 million tonnes. In the entire year 2021, South America churned out 12.111...
Hindalco’s aluminium wire rod price surges by INR5250/t with effect from January 28
Hindalco Industries Limited hiked its aluminium products and aluminium ingot prices for the second time in a row last week, with effect from Friday, January 28. The company’s aluminium wire rod price saw a surge of INR 5,250 per tonne or 1.92 per cent to INR 279,100 per tonne as of January 28. On January 26, the price stood at INR 273,850 per tonne, up by INR 2,000 per tonne from the previous day. Hindalco’s aluminium billets price also grew by INR 5,250 per tonne with effect from January 28 to come in at INR 282,100 per tonne, versus INR 276,850 per tonne on January 26. The hike on January 28 brought Hindalco’s aluminium ingot price to INR 268,000 per tonne from INR 262,750 per tonne on January 26. Hindalco links its aluminium ingot and aluminium products prices to the three-month future...
Aluminium market deficit to take the metal price to a 30-year high in 2022, predicts Eurasian Resources Group CEO
According to latest estimates, aluminium has strong potential in 2022 to outperform other non-ferrous metals on the London Metal Exchange, exceeding the important milestone of $3000/t at the start of the year. The news came after diversified mining major Eurasian Resources Group CEO Benedikt Sobotka said in a statement on January 27. According to Sobotka, the aluminium market will remain in a deficit in 2022 for the second consecutive year, as indicated by inventories at the lowest level since the global financial crisis – a period of extreme stress in global financial markets and banking systems between mid-2007 and early 2009. In 2021, the global aluminium price stood 13-year high, increasing by more than 40 per cent year-on-year. Sobotka predicts China’s aluminium supply growth to be...
Vedanta Ltd earns 50% higher revenue of INR 33,697 crore in 3QFY22 on record aluminium production
On Friday, January 28, Vedanta Limited, a subsidiary of Vedanta Resources Limited, declared its unaudited Q3 and nine months results ended December 31, 2021. The company said it earned consolidated quarterly revenue of INR 33,697 crore, an increase of 12 per cent Q-o-Q from INR 30,048 crore and up by 50 per cent Y-o-Y from INR 22,498 crore. The revenue in nine months came in at INR 91,850 crore, which flaunted a hike of 56 per cent from INR 58,989 crore during the same period last year. The increase in revenue could be attributed to improved commodity prices and higher sales volume across businesses. Vedanta reported record aluminium production of 578,000 tonnes in Q3, up by 16 per cent Y-o-Y. Alumina output also saw a rise of 16 per cent Y-o-Y to 472,000 tonnes in 3QFY2022. Vedanta also...
LME aluminium benchmark price settles slightly higher at US$3110/t; SHFE is closed for CNY holiday
The LME aluminium benchmark price grew slightly on Friday, January 28, after incessant hikes from U$3,044.50 per tonne to US$3,107 per tonne during January 24-27. On Friday, January 28, LME aluminium cash (bid) price and LME aluminium official settlement price inched up by only US$2 per tonne and US$3 per tonne, respectively, to come in at US$3,108 per tonne and US$3,110 per tonne. But 3-month bid price and 3-month offer price descended by US$10 per tonne and US$11 per tonne to close at US$3,085 per tonne. December 23 bid price and December 23 offer price also closed lower at US$2,815 per tonne and US$2,820 per tonne as of January 28. LME aluminium opening stock totalled at 811050 tonnes on January 28. Live warrants remained restrained at 450250 tonnes, while Cancelled warrants declined...
NALCO aluminium ingot price gains INR3900/t over the week ending January 29
National Aluminium Company Limited (NALCO) again increased its aluminium ingot and aluminium products prices after a week, with effect from Saturday, January 29. The company’s aluminium ingot price grew by INR 3,900 per tonne from INR 261,150- 264,650 per tonne on January 22 to INR 265,050-268,550 per tonne on January 29. NALCO hiked its aluminium wire rod price also by INR 3,900 per tonne on January 29, bringing it to INR 267,550-271,900 per tonne. On January 22, the price stood at INR 263,650- 268,000 per tonne, seeing a surge of INR 6,300 per tonne. NALCO’s aluminium billets price witnessed no exception but an increase of INR 3,900 per tonne from INR 264,600- 267,250 per tonne to INR 268,500-271,150 per tonne. NALCO links its aluminium ingot and aluminium products prices to the...
Primary Aluminium Weekly Recap: South32 claims record breaking prices for South African aluminium; Aluminium consumption to grow by 10% for increased electric car demand
Some of the news that created a buzz in the global primary aluminium market this week included record aluminium pricing claimed by South32 for metal produced at its South African smelter Hillside. But the company struggled to clear a backlog of the metal due to port congestion in both South Africa and Mozambique, where it has a smelter. The company said it was working on alternate strategies to mitigate a capital increase as a result of larger inventories in the second-quarter production report released today. To know more: https://www.alcircle.com/news/south32-reports-record-breaking-prices-for-south-african-aluminium-75447 The aluminium company in Cameroon is presently sorting out with a group of three European financial institutions to recapitalize Cameroon Aluminium Company (Alucam),...
LME aluminium price trended up this week to US$3110/t; SHFE price closed at US$3393/t
Both LME aluminium cash (bid) price and LME official settlement price trended up throughout the week, starting at US$3,044 per tonne and US$3,044.50 per tonne on Monday, January 24. On Tuesday, January 25, LME aluminium cash (bid) price and LME official settlement price rose 60 per cent to come in at US$3,063 per tonne and US$3,064 per tonne, respectively. On Wednesday, January 26, LME aluminium cash (bid) price and LME official settlement price further surged to close at US$3,092.50 per tonne and US$3,093 per tonne. On January 27, the prices settled even higher at US$3,106 per tonne and US$3,107 per tonne, and finally closed the week at US$3,108 per tonne and US$3,110 per tonne, respectively. 3-month bid price and 3-month offer price moved up from US$3,029 per tonne and US$3,031 per...
Alumina production in Africa & Asia (ex-China) stands 7% higher YoY at 3.37 MT during 4Q2021
In Africa & Asia (ex-China), alumina production in December 2021 stood at 1.166 million tonnes, reflecting an increase of 4.67 per cent month-on-month. In November, alumina output in Africa & Asia (ex-China) came in at 1.114 million tonnes, up by 2.20 per cent from 1.090 million tonnes. On a year-on-year calculation, Africa & Asia’s alumina output in December 2021 stood 6.29 per cent higher than 1.097 million tonnes. From October to December 2021 (Q4), alumina production in Africa & Asia (ex-China) totalled 3.37 million tonnes, an increase of 0.60 per cent from 3.35 million tonnes in Q3 2021 and 6.98 per cent higher than 3.150 million tonnes in Q4 2020. In the entire year of 2021, alumina production in Africa & Asia amounted to 13.174 million tonnes, up by 6.28 per cent from 12.395...
China’s aluminium output to fall 2.6% in January 2022 despite 530,000 tonnes of new capacity into operation: SMM
According to the Shanghai Metals Market estimates, China’s aluminium production in January 2022 will drop by 2.6 per cent year-on-year to come in at 3.19 million tonnes. The daily average output will be 103,000 tonnes, up 600 tonnes month-on-month. The proportion of aluminium liquid in smelter’s product portfolio is estimated to be 64.1 per cent in the said month, down by 1.4 percentage points month-on-month but up by 0.8 percentage point on the year. On the other hand, the operating aluminium capacity has continued to increase in January. A total of 530,000 tonnes of aluminium capacity has been put into operation across Wenshan in Yunnan, east Inner Mongolia, Guizhou, and Shanxi. But the output released was low in the said month. As of January 28, 2022, the domestic operating aluminium...
Ball Corporation reports 50% growth in net earnings to $878 million for 2021; sales record 2 billion hike
On Thursday, January 27, Ball Corporation announced its full-year 2021 net earnings attributable to the corporation of $878 million or $2.65 per diluted share. That was an increase of 50 per cent from $585 million net earnings or $1.76 per diluted share in 2020. Sales recorded in 2021 were $13.8 billion compared to $11.8 billion a year ago. Ball’s full-year 2021 comparable net earnings were $1.16 billion or $3.49 per diluted share, in contrast to $987 million or $2.97 per diluted share in 2020. In Q4 2021, Ball’s net earnings attributable to the corporation were $297 million or 90 cents per diluted share on sales of $3.7 billion. Comparable earnings per diluted share were 97 cents versus 81 cents in Q4 2020. John A. Hayes, chairman and chief executive officer, said: "We delivered a strong...
LME aluminium benchmark price settles higher at US$3107/t; SHFE price moves up by US$18/t
LME aluminium opened at US$3,093 per tonne on Thursday and closed at US$3,100.50 per tonne, an increase of $0.50 per tonne or 0.02 per cent. On Thursday, January 27, LME aluminium cash (bid) price and LME aluminium official settlement price grew by US$13.50 per tonne and US$14 per tonne, respectively, to come in at US$3,106 per tonne and US$3,107 per tonne. 3-month bid price and 3-month offer price moved up by US$15.50 per tonne and US$16 per tonne to stand at US$3,095 per tonne and US$3,096 per tonne. December 23 bid price and December 23 offer price also closed higher at US$2,823 per tonne and US$2,828 per tonne. LME aluminium opening stock decreased from 835000 tonnes to 823525 tonnes. Live warrants and Cancelled warrants for the same day came in at 450250 tonnes and 373275 tonnes. LME...
Hindalco’s aluminium ingot price gains INR2000/t to stand at INR262750/t on January 26
Hindalco Industries Limited increased its aluminium ingot and aluminium products prices, with effect from January 26, soon after it reduced the prices on the past two days. Hindalco grew its aluminium ingot price by INR 2,000 per tonne, bringing it to INR 262,750 per tonne. On January 25, Hindalco's aluminium ingot price stood at INR 260,750 per tonne after being down by INR 2,750 per tonne from the previous day. Hindalco’s aluminium wire rod price was also increased by INR 2,000 per tonne on January 26 from INR 271,850 per tonne to INR 273,850 per tonne. Aluminium billets price saw a raise from INR 274,850 per tonne on January 25 to INR 276,850 per tonne on January 26. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London...
