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.
SHFE aluminium price declines by US$22/t after three days of hike; LME is closed for New Year’s Day
The London Metal Exchange was closed on January 3, 2022 for New Year’s Day. On the previous day, December 31, 2021, LME aluminium cash (bid) price and LME official settlement price closed at US$2,805.50 per tonne and US$2,806 per tonne, respectively, by losing US$23.50 per tonne or by 0.83 per cent. 3-month bid price and 3-month offer price for the same day totalled at US$2,805 per tonne and US$2,810 per tonne. LME aluminium opening stock came in at 939200 tonnes. Live warrants came in at 709625 tonnes, while Cancelled warrants hovered around 229575 tonnes. LME aluminium 3-month Asian Reference Price settled at US$2,815.60 per tonne, for the same day. SHFE Aluminium Price Trend On Tuesday, January 4, the benchmark aluminium price for SHFE declined by US$22 per tonne to stand at US$3,175...
China’s aluminium foil exports improve 2% M-o-M to 114,700 tonnes in November 2021 as demand in India rebounds
According to China customs data, China exported 114,700 tonnes of aluminium foil in November 2021, which reflected a month-on-month increase of 2 per cent and a year-on-year rise of 13 per cent. Jiangsu, Zhejiang, Shanghai, Henan, Shandong ranked top in November, exporting more than 10,000 tonnes each and accounting for over 10 per cent of the export proportion. The five provinces mentioned above accounted for up to 79 per cent of the total exports. To Thailand and India, China exported 12,500 tonnes and 10,700 tonnes of aluminium foil, respectively, in November 2021. The demand for aluminium foil in India is rebounding to normal levels, said the report. Demand in South Korea, Japan, and Saudi Arabia is also increasing, but their import volume is so far less than in Thailand and India....
US-based UFP Industries buys Ultra Aluminum Manufacturing for $25 million
The US-based company UFP Industries, Inc. announced last week that its subsidiary Deckorators Inc. acquired Ultra Aluminum Manufacturing, a manufacturer of aluminum fencing, gates, and railing, for $25 million. The transaction also includes $2 million, which is to be paid if certain future performance goals are met. Founded in 1996, Ultra Aluminum Manufacturing produces an extensive selection of ornamental aluminum fence and railing products for contractors, landscapers, fence dealers, and wholesalers. As per the report, Russ Springborn, Ultra Aluminum’s president and Dave Stewart, vice president of business development, will continue their leadership roles with Ultra. Landon Tarvin, vice president of Deckorators, said: “This transaction adds aluminum fencing to our current lineup of...
Hindalco Industries cuts its aluminium billets price by INR2500/t or 1% with effect from January 1
Hindalco Industries Limited cut its aluminium billets and aluminium wire rod prices, with effect from Saturday, January 1, 2022. That marked a cut for the second time in a row since December 30. Hindalco’s aluminium billets price came in at INR 257,100 per tonne, down by INR 2,500 per tonne or 1 per cent from INR 259,600 per tonne on December 30. Hindalco’s aluminium wire rod price also saw a slash of INR 2,500 per tonne on January 1 from INR 256,600 per tonne to INR 254,100 per tonne. The company’s aluminium ingot price witnessed no exception but a decline of INR 2,500 per tonne as well. Thus, the price has come in at INR 243,000 per tonne on January 1 from INR 245,500 per tonne on December 30. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of...
Primary Aluminium Weekly Recap: EGA repays $361 million debt ahead of time; Hydro to axe aluminium production at Slovalco
Some of the key highlights in the global primary aluminium industry this week include Emirates Global Aluminium pays off in full $361 million, which the Mubadala backed company has raised as project finance from 13 banks and export credit agencies, Alro remains in dismay and alert that around 1300 staff or one-third of its labour force might get laid-off, as the company will curtail production at its aluminium smelter for primary aluminium production by 60% in 2022, and Norsk Hydro to axe around 60% production of Slovalco, its majority stake owned aluminium plant in Slovakia countering high energy prices. Let us now look at each of those news in further details: The leader in global aluminium production, Emirates Global Aluminium has paid off in full $361 million, raised by the Mubadala...
Primary aluminium production in Russia & Eastern Europe drops by 3.7% M-o-M to 339,000 tonnes in November 2021
In November 2021, primary aluminium production in Russia & Eastern Europe stood at 339,000 tonnes, down by 13,000 tonnes or 3.69 per cent from 352,000 tonnes in October. In September, production in Russia & Eastern Europe totalled 340,000 tonnes, meaning the output in October climbed 3.52 per cent or 12,000 tonnes month-on-month. Total primary aluminium production from September to November amounted 1.031 million tonnes, 0.87 per cent less than 1.040 million tonnes in the previous three months but 0.19 per cent more than 1.029 million tonnes a year ago. From January to November 2021, Russia & Eastern Europe churned out 3.788 million tonnes of primary aluminium in total, which was 0.34 per cent down from 3.801 million tonnes during the same period last year. Primary aluminium production...
Japan’s aluminium imports record a M-o-M rise of 20% to 260,100 tonnes in October 2021
In October 2021, Japan imported 260,100 tonnes of aluminium, which reflected an increase of 43,600 tonnes or 20.1 per cent from a month ago. On a year-on-year calculation, the imports stood 90,600 tonnes or 53.5 per cent higher, as released by the Japan Aluminium Association data this week. Aluminium imports by Japan included both unwrought and wrought aluminium as well as aluminium waste and scrap. According to the United States International Trade Commission, unwrought aluminium products include units in the form of ingot, block, billet, and slab and are not machined or processed otherwise by basic trimming, scalping or descaling. Unwrought aluminium typically makes up the bulk of Japan’s aluminium imports and includes alloyed and non-alloyed material. In October, Japan’s unwrought...
Alumina production in Africa & Asia (ex-China) grows 2.2% M-o-M to 1.114 million tonnes in November 2021
According to the International Aluminium Institute data, alumina production in Africa & Asia (ex-China) stood at 1.114 million tonnes in November 2021, up by 2.20 per cent from 1.090 million tonnes in October. In September, alumina output in Africa & Asia (ex-China) amounted to 1.100 million tonnes, meaning the production in October dropped by 0.91 per cent month-on-month. On a year-on-year calculation, Africa & Asia’s (ex-China) alumina production in November edged 6.40 per cent higher than 1.047 million tonnes. In three month time (September-November), Africa & Asia (ex-China) churned out 3.304 million tonnes of alumina, 0.27 per cent less than 3.313 million tonnes in the previous three months and 7.80 per cent more than 3.065 million tonnes during the same period last year. From...
LME aluminium price drops by US$5.50/t to settle at US$2829.50/t; SHFE price surges by US$33/t
LME aluminium opened at US$2,813.50 per tonne on Thursday, December 30, and closed at US$2,815 per tonne, an increase of US$3 per tonne or 0.11 per cent. Both LME aluminium cash (bid) price and LME official settlement price continued to decrease on Thursday, December 30, to stand at US$2,829 per tonne and US$2,829.50 per tonne, respectively. Data showed the prices dropped by US$5.50 per tonne. On the other hand, 3-month bid price and 3-month offer price increased by US$6.50 per tonne and US$7 per tonne to come in at US$2,824.50 per tonne and US$2,825.50 per tonne. December 22 bid price and December 22 offer price also closed higher at US$2,793 per tonne and US$2,798 per tonne, respectively. LME aluminium opening stock slipped to 943500 tonnes. Live warrants remained restrained at 710150...
Primary aluminium inventories in China shrink by 65,000 tonnes to 799,000 tonnes on December 30
According to the Shanghai Metals Market, social inventories of primary aluminium in China have continued to decrease week-on-week across eight major consumption areas, including SHFE warrants. Data shows the inventories have plunged by 65,000 tonnes this week to come in at 799,000 tonnes as of December 30. SMM data has also shown that decline in inventories at Wuxi, Nanhai, and Gongyi have primarily contributed to the extended downfall of total primary aluminium inventories. The chart below indicates the current status of primary aluminium inventories across China in more details: Primary aluminium inventories in Wuxi have slipped by 40,000 tonnes week-on-week to stand at 286,000 tonnes on December 30, followed by the decline of 11,000 tonnes and 10,000 tonnes in Nanhai and Gongyi to come...
Hindalco Industries’ aluminium wire rod price sees a slash of INR3750/t with effect from December 30
Hindalco Industries Limited has slashed both of its aluminium wire rod and billets prices, with effect from Thursday, December 30. The company’s aluminium wire rod price has witnessed a cut of INR 3,750 per tonne to stand at 256,600 per tonne, as against INR 260,350 per tonne on December 25. Hindalco’s aluminium billets price has also been cut by INR 3,750 per tonne on December 30 from INR 263,350 per tonne to INR 259,600 per tonne. The company’s aluminium ingot price has experienced no exception but a plunge of INR 3,750 per tonne to INR 245,500 per tonne, in comparison with INR 249,250 per tonne on December 25. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on December 29 fell by US$13 per tonne...
World alumina production in Nov’21 remains unchanged M-o-M at 11.352 MT but grows 0.16% Y-o-Y
According to the recent data revealed by the International Aluminium Institute, world alumina production in November 2021 stood at 11.352 million tonnes, essentially unchanged compared to 11.353 million tonnes in October 2021. In September, the output came in at 11.166 million tonnes, meaning the world alumina production in October saw a month-on-month rise of 1.67 per cent. On a year-on-year calculation, world alumina production in November grew negligibly by 0.16 per cent than 11.334 million tonnes. But despite the restraint in monthly alumina production in November, the daily average output grew 3.33 per cent from 366,200 tonnes in October to 378,400 tonnes. From January to November, world total alumina production amounted to 126.648 million tonnes, up by 4.37 per cent from 121.384...
A00 aluminium ingot price in China stands above RMB20,000/t; Aluminium alloy(A356) price surges by RMB200/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has hiked for the second consecutive day by RMB 210 per tonne to reach above RMB 20,000 per tonne yet again. Data shows the price is standing at RMB 20,130 per tonne as of December 30, with average prices likely to range between RMB 20,110 per tonne and RMB 20,150 per tonne. The spot contract is expected to be traded at a premium price of RMB 60-20 per tonne, up by RMB 10 per tonne from the previous day. In Wuxi, the primary aluminium ingot price has climbed by RMB 220 per tonne to stand at RMB 20,140 per tonne, while the price in Shenyang and Tianjin has increased by RMB 210 per tonne to come in at RMB 20,140 per tonne. A00 aluminium ingot price in Linyi has also witnessed a hike of RMB 210 per tonne but to peg...
North America’s primary aluminium output declines 6% Y-o-Y to 308,000 tonnes in Nov’21; Output in South America grows 14%
According to the International Aluminium Institute, primary aluminium production in North America stood at 308,000 tonnes during November 2021, down by 10,000 tonnes or 3.14 per cent from 318,000 tonnes in October 2021. In September 2021, primary aluminium production in North America came in at 304,000 tonnes, meaning the output in October rose 14,000 tonnes or 4.61 per cent month-on-month. On a year-on-year calculation, North America’s primary aluminium production recorded a 6.10 per cent downfall from 328,000 tonnes. In three month time (from September to November), primary aluminium production amounted to 930,000 tonnes, 5 per cent or 49,000 tonnes less than 979,000 tonnes during the same period last year. From January to November, primary aluminium production in North America totalled...
Hindalco grows its aluminium billets and wire rod prices by INR1750/t with effect from December 25
Hindalco Industries Limited grew its aluminium billets and aluminium wire rod prices by INR 1,750 per tonne with effect from Saturday, December 25. The hike brought the company’s aluminium wire rod price to INR 260,350 per tonne as against INR 258,600 per tonne on December 23. Hindalco’s aluminium billets price stood at INR 263,350 per tonne as of December 25 in comparison with INR 261,600 per tonne on December 23. Hindalco’s aluminium ingot price also saw an increase of INR 1,750 per tonne on December 25 from INR 247,500 per tonne to INR 249,250 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which after December 22 grew by US$37 per tonne to settle at US$2,848 per tonne as of December 24. On...
SHFE aluminium price decreases by US$22/t to US$3102/t; LME is closed for Christmas Holiday
The London Metal Exchange was closed on Monday, December 27, for the Christmas Holiday. On the last day of trading, which was on Friday, December 24, the three-month LME aluminium opened at US$2,845 per tonne and closed at US$2,820 per tonne, a decrease of US$28 per tonne or 0.98 per cent. LME aluminium cash (bid) price and LME aluminium official settlement price rose by US$28.50 per tonne and US$30 per tonne, respectively, to come in at US$2,846 per tonne and US$ 2,848 per tonne. 3-month bid price and 3-month offer price for the same day stood at US$2,841 per tonne and US$2,841.50 per tonne. SHFE Aluminium Price Trend On Tuesday, December 28, the benchmark aluminium price for SHFE decreased for the third day in a row by US$22 per tonne to total at US$3,102 per tonne. The most-traded SHFE...
NALCO hikes its aluminium ingot price by over INR10,000/t to INR242,550-246,050/t w.e.f. December 24
National Aluminium Company Limited (NALCO) significantly hiked its aluminium ingot and aluminium products prices on Friday, December 24. The company’s aluminium ingot price came in at INR 242,550-246,050 per tonne, up by INR 10,600 per tonne or 4.5 per cent from INR 231,950- 235,450 per tonne on December 21. NALCO’s aluminium wire rod price also saw a jump of INR 10,600 per tonne from INR 234,450-238,800 per tonne on December 21 to INR 245,050-249,400 per tonne on December 24. Aluminium billets price range between INR 246,000-248,650 per tonne, compared to INR 235,400- 238,050 per tonne on December 21. NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which from December 21 to December 24, surged by US$152...
Primary Aluminium Weekly Recap: China’s aluminium imports hit a year high at 2.97 MT in 11 months; Global aluminium output in 11 months stands 3.6% higher
Several news in the primary aluminium industry have made round ups this week, but among them what has gained the most attention is China’s year-high aluminium imports within the 11 months of 2021, as limited domestic aluminium production due to power usage restrictions underpin demand for overseas metal. According to China customs data, arrivals of unwrought aluminium and products, including primary metals and unwrought, alloyed aluminium, recorded a 15-month peak at 397,915 tonnes in November. That was 34 per cent up month-on-month from 297,043 tonnes and 109.3 per cent higher on the year. Total imports in 11 months amounted to 2.97 million tonnes, beating the previous annual record of 2.7 million tonnes in 2020. To know more:...
