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.
LME aluminium benchmark price grows by US$17.5/t to US$2977.5/t; SHFE price closes lower at US$3325/t
LME aluminium opened at US$2,977 per tonne last Friday and closed at US$2,987 per tonne, an increase of US$9.50 per tonne or 0.32 per cent. On Friday, January 14, LME aluminium cash (bid) price closed at US$2,977 per tonne. LME aluminium official settlement price, on the other hand, settled at US$2,977.50 per tonne, following a decline of US$43 per tonne on the previous day to US$2,960 per tonne. 3-month bid price and 3-month offer price on Friday settled at US$2,978 per tonne and US$2,980 per tonne, respectively. December 22 bid price and December 22 offer price totalled at US$2,745 per tonne and US$2,750 per tonne. LME aluminium opening stock registered at 891550 tonnes. Live warrants and Cancelled warrants stood at 500550 tonnes and 391000 tonnes. LME aluminium 3-month Asian Reference...
Primary Aluminium Weekly Recap: Valuation of Lochaber aluminium smelter scales up by £100 million, NALCO puts its 960th potline into operation
Some of the important news spotted in the global primary aluminium industry this week included the valuation of Lochaber aluminium smelter scaled up by £100 million, which was acquired from Rio Tinto Alcan and a very small amount was further invested. The news came on Monday, January 10, after the liberal, federalist political party in Scotland, Scottish Liberal Democrats asserted that Sanjeev Gupta’s GFG Alliance comprehended the valuation. To know more: https://www.alcircle.com/news/lochaber-aluminium-smelters-valuation-scales-up-by-100-million-while-gfg-alliance-investment-remains-little-scottish-liberal-democrats-74343 According to another report, Tomago Aluminium is compelled to prepare numerous backup plans for the supply of crucial materials to keep the country's largest aluminium...
NALCO’s aluminium ingot price grows by INR2100/t to hover around INR249,550- 253,050/t w.e.f. January 14
National Aluminium Company Limited (NALCO) continued to increase its aluminium ingot and aluminium products prices for the second time in a row, with effect from Friday, January 14. The company’s aluminium ingot price saw a rise of INR 2,100 per tonne to a range between INR 249,550- 253,050 per tonne. A week ago, on January 7, NALCO’s aluminium ingot price was raised by INR 9,100 per tonne to stand at INR 247,450- 250,950 per tonne. On January 14, NALCO’s aluminium wire rod price came in at INR 252,050- 256,400 per tonne, up by INR 2,1000 per tonne as well from INR 249,950- 254,300 on January 7. The company’s aluminium billets price also grew by INR 2,100 per tonne over the week from INR 250,900- 253,550 per tonne to INR 253,000- 255,650 per tonne. NALCO links its aluminium ingot and...
Hindalco’s aluminium wire rod price sees a cut of INR3500/t after several hikes since January 5
Hindalco Industries Limited has reduced its aluminium products and aluminium ingot prices, with effect from Friday, January 14, after the four consecutive hikes since January 5, 2022. The company has cut its aluminium wire rod price by INR 3,500 per tonne to INR 262,850 per tonne. On January 13, the product price was at INR 266,350 per tonne after an increase of INR 4,250 per tonne. The latest cut has brought the company’s aluminium billets price to INR 265,850 per tonne, down by INR 3,500 per tonne as well from INR 269,350 per tonne on January 13. Hindalco’s aluminium ingot selling price is standing at INR 251,750 per tonne as of January 14, compared to INR 255,250 per tonne on January 13. Hindalco links its aluminium prices to the three-month future of aluminium on the London Metal...
FRECH Group from Schorndorf acquires ZPF GmbH, Germany-based aluminium melting furnace specialist
According to a recent report, FRECH Group from Schorndorf has acquired ZPF GmbH, Germany-based aluminium melting furnace specialist. As per the report, the negotiations between the two companies were concluded in December, before the Christmas, and there is an excellent perspective for the long-term preservation of ZPF. The parties involved in the negotiations have unanimously agreed that the agreement, which came into effect on January 1, 2022, is based on an excellent concept, and together with FRECH, has resulted in a lot of synergies. The agreement was signed after ZPF GmbH had to open insolvency proceedings in November 2021 as its orders in the automotive industry got postponed due to multiple production stoppages. ZPF GmbH was formed in 2013 from the insolvency of the predecessor...
Alumina spot price in China continues to grow to close the week at RMB2862/t; A00 aluminium ingot price plunges by RMB400/t
According to the Shanghai Metals Market, the average alumina spot price in China has increased for the fifth day in a row by RMB 13 per tonne to stand at RMB 2,862 per tonne as of Friday, January 14. In Guangxi, alumina price has hiked by RMB 30 per tonne to come in at RMB 2,750 per tonne, while the price in Shandong and Henan has grown by RMB 10 per tonne to RMB 2,910 per tonne and RMB 2875 per tonne, respectively. In Shanxi and Guizhou, alumina spot price has also seen a rise of RMB 10 per tonne to close the week at RMB 2,885 per tonne and RMB 2,750 per tonne. However, the Australian alumina FOB price has remained restrained, following a rise of US$1 per tonne on the previous day to US$346 per tonne, found SMM. China’s A00 aluminium ingot price, on the other hand, has decreased by RMB...
China’s primary aluminium inventories plunge by 52,000 tonnes to settle at 724,000 tonnes this week
According to the Shanghai Metals Market, social inventories of primary aluminium in China have continued to decrease by 52,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Further plunge has brought the inventories to 724,000 tonnes as of Thursday, January 13, mainly contributed by Shanghai, Wuxi, Nanhai, Hangzhou, and Gongyi. Last week, on January 6, China’s primary aluminium inventories shrank by 23,000 tonnes to come in at 776,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have plunged by 33,000 tonnes on week to stand at 242,000 tonnes as of January 13, followed by the decline of 8,000 tonnes in Gongyi to come in at 67,000 tonnes. In...
Hindalco further hikes its aluminium ingot price by INR4250/t on January 13 as LME price exceeds US$3000/t
Hindalco Industries Limited has further hiked its aluminium ingot and aluminium products prices in line with the LME aluminium benchmark price surge yet again above US$3,000 per tonne. With effect from Thursday, January 13, Hindalco has increased the aluminium ingot price by INR 4,250 per tonne to INR 255,250 per tonne. On Wednesday, January 12, the company’s aluminium ingot price stood at INR 251,000 per tonne seeing a rise of INR 1,500 per tonne. The latest hike has brought the company’s aluminium wire rod price to INR 266,350 per tonne on January 13, compared to INR 262,100 per tonne on January 12. Hindalco’s aluminium billets selling price is hovering around INR 269,350 per tonne as of January 13, up by INR 4,250 per tonne from INR 265,100 per tonne on January 12. Hindalco links its...
LME aluminium benchmark price exceeds US$3000/t yet again; SHFE price declines by US$21/t
LME aluminium opened at US$2,976 per tonne on Wednesday and closed at US$2,945 per tonne, a decrease of US$38 per tonne or 1.27 per cent. On Wednesday, January 12, both LME aluminium cash (bid) price and LME aluminium official settlement price yet again crossed US$3,000 per tonne by gaining US$54 per tonne and US$53 per tonne, respectively. While the former stood at US$3,002 per tonne, the latter came in at US$3,003 per tonne. 3-month bid price and 3-month offer price also settled higher at US$3,012 per tonne and US$3,014 per tonne, respectively. December 22 bid price and December 22 offer price totalled at US$2,775 per tonne and US$2,780 per tonne. LME aluminium opening stock decreased to 898525 tonnes. Live warrants and Cancelled warrants closed at 512950 tonnes and 385575 tonnes. LME...
India’s aluminium scrap imports from US show a 22% hike M-o-M in Oct’2021; Imports in 10 months surge by 43%
In October 2021, India imported 56,400 tonnes of aluminium scrap from the United States, found the Shanghai Metals Market. That was an increase of 10,300 tonnes or 22.34 per cent from 46,100 tonnes in September. In August, India imported 45,300 tonnes of aluminium scrap, meaning the imports in September had seen a month-on-month growth of 1.77 per cent only. On a year-on-year calculation, India’s aluminium scrap imports in October 2021 recorded a hike of 17,700 tonnes or 45.74 per cent from 38,700 tonnes. In three month time, India’s aluminium scrap imports from the US amounted to 147,800 tonnes, found the US census bureau data. From January to October, India imported 351,000 tonnes of scrap in total from the United States, registering a surge of 42.68 per cent from 246,000 tonnes during...
Novelis to invest $365 million in building a new advanced closed-loop recycling centre for aluminium auto sheet
Novelis Inc., an American industrial aluminium company, has reportedly announced its plan to invest $365 million to build a highly advanced recycling centre for automotive in North America. The project, to be built adjacent to Novelis’ existing automotive finished plant in Guthrie, Kentucky, will have an annual casting capacity of 240,000 tonnes of sheet ingot, reducing the company’s carbon emissions by more than 1 million tonnes each year. The centre will enable Novelis to grow its closed-loop-recycling programme with more automotive customers in North America. Through closed-loop recycling, remaining aluminium is collected after automotive parts being stamped from sheets and used to remake the same product for new vehicle production. The centre will also have the capability to process...
Hindalco Industries grows its aluminium ingot price by INR1500/t to INR251000/t on January 12
Hindalco Industries Limited has continued to increase its aluminium ingot and aluminium products prices for the fourth time in a row, with effect from Wednesday, January 12. The company’s aluminium ingot price has witnessed an increase of INR 1,500 per tonne to INR 251,000 per tonne, compared to INR 249,500 per tonne on January 7. Hindalco’s aluminium wire rod price has also been grown by INR 1,500 per tonne on January 12 from INR 260,600 per tonne to INR 262,100 per tonne. With the latest hike, Hindalco’s aluminium billets price has come in at INR 265,100 per tonne from INR 263,600 per tonne. Hindalco links its aluminium prices to the three-month future of aluminium on the London Metal Exchange, which has been growing incessantly since the onset of January 2022. From January 7 to 11, the...
Alumina spot price in China inches up by RMB4/t to RMB2845/t; A00 aluminium ingot price gains RMB60/t
The average alumina spot price in China has continued to grow by RMB 4 per tonne to come in at RMB 2,845 per tonne on Wednesday, January 12, found the Shanghai Metals Market. In Shandong, the price has increased by RMB 15 per tonne to RMB 2,895 per tonne, followed by the rise of RMB 5 per tonne in Shanxi and Henan to stand at RMB 2,870 per tonne and RMB 2,860 per tonne, respectively. Meanwhile, in Guizhou, alumina spot price has declined by RMB 10 per tonne to come in at RMB 2,740 per tonne, as of January 12. The Australian alumina FOB price has remained restrained at US$345 per tonne on January 12, according to SMM. China’s A00 aluminium ingot price has climbed by RMB 60 per tonne to come in at RMB 21,670 per tonne on January 12, learned SMM. The average prices are expected to range...
China’s aluminium production in December’21 drops 3% on year but grows 3.6% M-o-M to 3.18 MT: SMM
In December (31 calendar days) 2021, China produced 3.18 million tonnes of aluminium, which was 3.17 per cent less than a year ago but 3.58 per cent more than 3.07 million tonnes in November 2021, found the Shanghai Metals Market data. The daily average output was 102,400 tonnes, up 100 tonnes per day month-on-month. The improvement in aluminium production in December could be a result of the rise in operating capacity. Some aluminium smelters in Inner Mongolia, Yunnan, and Shanxi increased their output, resuming the production of a total capacity of around 240,000 tonnes. In the entire year of 2021, China’s aluminium production was reported at 38.49 million tonnes, up 3.7 per cent year-on-year. According to the Shanghai Metals Market, liquid aluminium accounted for 65.5 per cent of the...
October 2021 primary aluminium production in US records a growth of 5.55% M-o-M to 76,000 tonnes: USGS
According to the recent data shown by the US Geological Survey, domestic primary aluminium production in the country in October 2021 was 76,000 tonnes. That was an increase of 4,000 tonnes or 5.55 per cent from 72,000 tonnes in September 2021 and a marginal rise of 1,000 tonnes from 75,000 tonnes in October 2020. The average daily production was 2,460 tonnes, up by 2.93 per cent M-o-M from 2,390 tonnes and 1.23 per cent more year-on-year from 2,430 tonnes. Total aluminium recovered from scrap in October 2021 was 269,000 tonnes, less by 3,000 tonnes or 1.1 per cent from 272,000 tonnes a month ago. On a year-on-year calculation, the recovered aluminium in October was down by 2.89 per cent from 277,000 tonnes. Of the total aluminium recovered, 141,000 tonnes were from new scrap and 128,000...
Metallurgical-grade alumina production in China further expands by 4.27% to 6.36 MT in December’21
Alumina production in China in December 2021 (31 calendar days) was 6.59 million tonnes, of which metallurgical-grade alumina output stood at 6.36 million tonnes, found the Shanghai Metals Market. On a month-on-month calculation, the metallurgical-grade alumina output extended hike by 4.27 per cent from 6.1 million tonnes of production in November 2021. The average daily metallurgical-grade alumina production was 205,300 tonnes in December, reflecting an increase of 4.33 per cent M-o-M and 10.68 per cent Y-o-Y. The winter heating season in China had a relatively lower impact on the roasting capacity of alumina refineries in December, resulting in a rise in alumina production. Total production throughout the year amounted to 72.16 million tonnes, a year-on-year hike of 7.25 per cent....
LME aluminium price further grows by US$7/t to US$2919.50/t; SHFE settles higher at US$3307/t
LME aluminium opened at US$2,930 per tonne last Friday and closed at US$2,922.50 per tonne, down by US$7.50 per tonne or 0.26 per cent. On Friday, January 7, LME aluminium cash (bid) price and LME aluminium official settlement price grew by US$7 per tonne to settle at US$2,919 per tonne and US$2,919.50 per tonne. 3-month bid price and 3-month offer price closed at US$2,930 per tonne and US$2,9232 per tonne, up by US$7.50 per tonne and US$8.50 per tonne, respectively, from the previous day. December 22 bid price and December 22 offer price totalled at US$2,682 per tonne and US$2,687 per tonne. LME aluminium opening stock was recorded at 916875 tonnes. Live warrants increased to 536175 tonnes and Cancelled Warrants hiked to 380700 tonnes. LME aluminium 3-month Asian Reference Price remained...
Primary aluminium weekly recap: NALCO chairman anticipates supply-demand gap to increase in 2022; Alba’s production performance in 2021 sets a new record
The global primary aluminium industry is spotted with much important news this week, such as Montenegro Uniprom in the Balkan nation has closed down the country’s exclusive aluminium smelter KAP, following its failure to agree on a new electricity price with power company EPCG. Veselin Pejovic, the CEO and Founder of Uniprom Group, held liable EPCG for being responsible for this extreme decision, while on the other hand, EPCG urged Pejovic to sit for another round of discussions to find a solution. To know more: https://www.alcircle.com/news/failed-to-reach-an-energy-agreement-montenegros-sole-aluminium-smelter-kap-shuts-down-74277 Sridhar Patra, the chairman and managing director of NALCO, has pointed out this week that the supply-demand mismatch in the aluminium market is expected to...
