AlCircle News Edited By "Debanjali Sengupta"
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LME aluminium price settles 1% higher at US$2625/t; SHFE price hikes by US$27/t to US$2968/t
LME aluminium opened at US$2,592 per tonne on Tuesday and closed at US$2,624.50 per tonne, an increase of US$30.50 per tonne or 1.18 per cent. LME aluminium cash (bid) price grew by US$25 per tonne on Tuesday, December 7, to stand at US$2,624.50 per tonne, while LME aluminium official settlement price gained US$24.50 per tonne or 1 per cent to come in at US$2,625 per tonne. For the same day, 3-month bid price and 3-monthoffer price moved up by US$34 per tonne to close at US$2,619 per tonne and US$2,620per tonne, respectively. December 22 bid price and December 22 offer price settled at US$2,615 per tonne and US$2,620 per tonne. LME aluminium opening stock decreased to 893650 tonnes. Live warrants remained restrained at 698550 tonnes and cancelled warrants decreased to 195100 tonnes. LME...
Novelis aims to complete ASI certifications for its North American aluminium can manufacturing facilities by mid-2022
Novelis Incorporation, the world leader in aluminum rolling and recycling, announced that it achieved a significant milestone on the way to achieving Aluminum Stewardship Initiative (ASI) certifications in every region where it operates. After achieving ASI certifications in Europe, Asia, and South America in recent time, Novelis aims to complete ASI certifications for its can manufacturing facilities in North America by mid-2022. Eleven of Novelis’ European manufacturing sites have achieved the ASI’s Performance Standard & Chain of Custody Standard Certifications. In Asia, the company’s South Korea operations at Yeongju and Ulsan Aluminum, have received ASI’s Performance Standard Certification; and in Brazil, Novelis' plant in Pindamonhangaba has earned ASI's Performance Standard...
NALCO’s aluminium ingot price sees a cut of INR5600/t or 2.4% since a hike two weeks ago
National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium products prices with effect from Tuesday, December 7, following a hike about two weeks ago. The Navratna CPSE has cut its aluminium ingot price by INR 5,600 per tonne or 2.4 per cent to INR 226,250-229,750 per tonne on December 7. On November 24, the price stood at INR 231,850- 235,350 per tonne after being surged by INR 7,800 per tonne. The latest cut has brought NALCO’s aluminium wire rod price to INR 228,750- 233,100 per tonne, down by INR 5,600 per tonne from INR 234,350- 238,700 per tonne on November 24. Aluminium billets price is currently hovering around INR 229,700- 232,350 per tonne compared to INR 229,700- 232,350 per tonne on November 24. NALCO links its aluminium ingot and aluminium...
NALCO, Hindalco & Vedanta’s shares rise on India’s anti-dumping duty announcement on aluminium flat rolled products from China
Shares of three notable aluminium makers recorded higher in trade, followed by the Central Government’s announcement of the imposition of anti-dumping duty on select aluminium products imported from China. National Aluminium Company’s share was traded higher by 5.77 per cent, Hindalco Industries shares up by 4.54 per cent, and Vedanta Limited up by 2.26 per cent. In a notification dated December 6, 2021, the Department of Revenue, Ministry of Finance, Government of India, said that in case of certain flat rolled aluminium products, originating in or exported from China, dumping margin for the subject goods from the subject country is positive and significant. According to the ministry, the domestic industry has suffered material injury caused by the dumped imports from China. The...
Hindalco’s aluminium wire rod and billets prices cut by INR3000/t with effect from December 7
Hindalco Industries Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, December 7. Hindalco’s aluminium wire rod price has seen a cut of INR 3,000 per tonne from INR 243,600 per tonne on December 4 to INR 240,600 per tonne on December 7. Hindalco’s aluminium billets price has come in at INR 243,600 per tonne, also down by INR 3,000 per tonne from INR 246,600 per tonne from the previous day. The company’s aluminium ingot selling price is hovering around INR 229,500 per tonne after being reduced by INR 3,000 per tonne from INR 232,500 per tonne. Hindalco inks its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on December 6 decreased by US$47.50...
Primary aluminium production in Russia & Eastern Europe grows 3.5% M-on-M in October 2021
In October 2021, primary aluminium production in Russia & Eastern Europe stood at 352,000 tonnes, reflecting a month-on-month increase of 12,000 tonnes or 3.53 per cent, found the International Aluminium Institute (IAI). In September, primary aluminium output totalled at 340,000 tonnes, down by 10,000 tonnes or 2.86 per cent from 350,000 tonnes in August. Total production of primary aluminium in Russia & Eastern Europe from August to October 2021 amounted to 1.042 million tonnes, compared to 1.041 million tonnes during May to July 2021. On a year-on-year calculation, Russia & Eastern Europe’s primary aluminium production in October 2021 edged a rise of only 1,000 tonnes from 351,000 tonnes From January to October 2021, Russia & Eastern Europe’s primary aluminium production totalled 3.449...
UK to press US to withdraw tariffs on aluminium and steel
According to a recent report, the United Kingdom Trade Secretary Anne-Marie Trevelyan will press the United States Commerce Secretary Gina Raimondo on Tuesday, December 7, to remove Trump-era tariffs on British aluminium and steel. “We’ve already made strong progress; from getting British beef and lamb back on U.S. plates, to lowering the cost of Scotch whisky exports by addressing the long-running Airbus-Boeing issue,” Trevelyan said in a statement. “Now is the time to hit the ground running and get on with boosting ties with our closest ally.” As per the report, the tariffs bring distress to Prime Minister Boris Johnson, who pitched an improvement in trading relations with the United States as one of the major benefits of exiting the European Union. Johnson has already offered a...
Hindalco Industries reduces its aluminium ingot price by INR1500/t with effect from December 4
Hindalco Industries Limited again reduced its aluminium ingot and aluminium products prices, with effect from Saturday, December 4, following an intermittent rise on December 2. The company cut its aluminium ingot price by INR 1,500 per tonne on December 2, bringing the price to INR 232,500 per tonne. Hindalco’s aluminium wire rod price also saw a dip of INR 1,500 per tonne from INR 245,100 per tonne on December 2 to INR 243,600 per tonne on December 4. Aluminium billets price came in at 246,600 per tonne, compared to INR 248,100 per tonne on the previous day. Hindalco inks its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on December 2 decreased by US$14.50 per tonne to US$2,655 per tonne and further declined on...
Average alumina spot price in China further slumps by RMB55/t, but A00 aluminium ingot price grows to RMB18780/t
The average alumina spot price in China has continued to fall on December 6, 2021, by RMB 55 per tonne to RMB 3,248 per tonne, found the Shanghai Metals Market. This marks the eighth consecutive working day of decline. In Shandong and Shanxi, alumina spot price has slumped by RMB 75 per tonne and RMB 65 per tonne, respectively, to come in at RMB 3,350 per tonne and RMB 3,250 per tonne. In Henan, alumina price has decreased by RMB 55 per tonne to RMB 3,260 per tonne, while the price in Guizhou and Guangxi has slipped by RMB 25 per tonne to peg at RMB 3,250 per tonne and RMB 3,075 per tonne, learned SMM. Australian alumina FOB price, on the other hand, has remained restrained at US$385 per tonne since November 25. Among the other primary aluminium input costs, bauxite (4.5≤Al/Si＜5.5) price...
Primary aluminium weekly Recap: New coronavirus variant Omicron starts hitting LME aluminium prices, Japanese aluminium shipments premium for 1Q2022 finalised at US$195/t
New coronavirus variant Omicron seems to have started creating an impact on the global aluminium prices already, and this has been the highlight of the week. As reported on Thursday, December 2, the LME aluminium price recorded a fall of 0.9 per cent to US$2,640.50 per tonne at 0704 GMT before closing the day at US$2,655 per tonne. However, so far, the LME aluminium prices were partially offset by LME aluminium inventories, which dropped to 893,775 tonnes, the lowest since September 2007 and down by 55 per cent from March. To know more: https://www.alcircle.com/news/new-coronavirus-variant-omicron-starts-hitting-lme-aluminium-prices-suspects-industry-analysers-73039 That’s not all. Agonies hovering around the possible economic impact due to the onset of new coronavirus variant have also...
BALCO receives two CII Energy Conservation Awards 2021 for best energy management at its power plants
Bharat Aluminium Company Limited, India's leading aluminium producer, has recently bagged two CII Energy Conservation (ENCON) Awards 2021 for best energy management at its Power Plants. BALCO’s 1200MW Power Plant has become State Winner – Chattisgarh with a 4.75 Star rated certificate, and its 540MW Power Plant has won a 4.25 Star rated certificate in a large scale category. Both of these certificates stand testimony to BALCO’s operational excellence. On this important achievement, Abhijit Pati, CEO and Director BALCO, said: "At BALCO, we are committed to maximizing our efforts of energy conservation. With such efforts, we aim to achieve the larger goal of creating a sustainable future for the generations to come and contributing to the expeditious development of the nation. BALCO has...
New coronavirus variant Omicron starts hitting LME aluminium prices, suspects industry analysers
Agonies hovering around the possible economic impact due to the onset of new coronavirus variant Omicron have reportedly begun hitting the benchmark aluminium price on the London Metal Exchange. On Thursday, December 2, the LME aluminium price recorded a fall of 0.9 per cent to US$2,640.50 per tonne at 0704 GMT before closing the day at US$2,655 per tonne. The most-traded January aluminium contract on the Shanghai Futures Exchange also closed down by 1.2 per cent to RMB 18,765 (US$2,944.87) per tonne. According to reports, heavily mutated Omicron is rapidly becoming the dominant variant of the coronavirus. In South Africa, the new variant of the virus outspread in less than four weeks after it was first detected there, while the United States on Wednesday became the latest country to...
Hindalco’s aluminium ingot price sees a rise of INR2250/t on December 2 in line with LME aluminium price hike
Hindalco Industries Limited grew its aluminium ingot and aluminium products prices on December 2, a day after it reduced the prices by INR 1,250 per tonne. With effect from December 2, the company’s aluminium ingot price saw an increase of INR 2,250 per tonne to INR 234,000 per tonne, backed on the rise in the LME aluminium benchmark price on December 1. Like any other Indian aluminium producer, Hindalco inks its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on December 1 rose by US$34.50 per tonne from US$2,635 per tonne to US$2,669.50 per tonne. However, on a month-on-month calculation, the price still stood less by US$43.50 per tonne from US$2,713 per tonne. Hindalco’s aluminium wire rod price also saw a hike of...
Alumina spot price in China registers a week-long decline to RMB3303/t; A00 aluminium ingot price shrinks by RMB210/t
The average alumina spot price in China has recorded a week-long decline from November 25 to December 3. According to the Shanghai Metals Market, the price ends this week on Friday, December 3, at RMB 3,303 per tonne, losing RMB 48 per tonne from the previous day. Compared to a week ago, China’s alumina price is down by RMB 134 per tonne from RMB 3,437 per tonne on November 26. In Henan and Guangxi, the average alumina spot price has plunged by RMB 60 per tonne and RMB 50 per tonne, respectively, to settle at RMB 3,315 per tonne and RMB 3,100 per tonne. In Shanxi, the price is also standing at RMB 3,315 per tonne but by decreasing by RMB 35 per tonne. In Shandong, alumina price has dropped by RMB 35 per tonne as well to close at RMB 3,425 per tonne. Aluminium fluoride price, on the other...
China’s aluminium foil exports record 7% Y-o-Y and 3% M-o-M growth to 112,200 tonnes in October 2021
According to China Customs data, China’s aluminium foil exports in October 2021 edged 2.95 per cent higher month-on-month to stand at 112,200 tonnes. On a year-on-year calculation, the exports stood up by 7.38 per cent, showed customs data. China’s aluminium foil exports to India accounted for 10 per cent of the country’s total exports in October. India thus became the largest final destination of aluminium foil in the month. The impact of restricted power consumption on local foil exports in Jiangsu and Zhejiang in September did not seem to be drastic. Jiangsu exported as much as 28,900 tonnes in the said month and became the largest aluminium foil exporting province. Zhejiang exported 25,400 tonnes and ranked second. Shandong, Henan, and Shanghai provinces exported more than 10,000...
Primary aluminium inventories in China decline by 15,000 tonnes over the week to 1 million tonnes on December 2
China’s social inventories of primary aluminium have continued to decrease for the second week in a row ending December 2, 2021, by 15,000 tonnes, found the Shanghai Metals Market. SMM data shows the inventories have declined across eight major consumption areas, including SHFE warrants, to come in at 1 million tonnes, as of Thursday, December 2. The decline in primary aluminium inventories this week is mainly contributed by Nanhai and Wuxi. The chart below indicates the current status of primary aluminium inventories across China in more detail: In Nanhai and Wuxi, primary aluminium inventories have plunged by 13,000 tonnes and 8,000 tonnes, respectively, to stand at 233,000 tonnes and 403,000 tonnes, as of December 2. In Shanghai, Hangzhou, and Tianjin, inventories have dropped by 1,000...
Hindalco Industries Limited cuts its aluminium wire rod and billets prices by INR1250/t
Hindalco Industries Limited decreased its aluminium products and aluminium ingot prices, with effect from Wednesday, December 1, following a hike on the previous day. The company reduced its aluminium wire rod price by INR 1,250 per tonne from INR 244,100 per tonne on November 30 to INR 242,850 per tonne on December 1. Hindalco’s aluminium billets price also saw a cut of INR 1,250 per tonne from INR 243,600 per tonne on November 30 to INR 242,350 per tonne on December 1. The company’s aluminium ingot selling price came in at INR 231,750 per tonne after being cut from INR 233,000 per tonne on the previous day. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which dropped on November 30...
Alumina spot price in China declines for the sixth day in a row to RMB3351/t, but A00 aluminium ingot price inches up by RMB10/t
The decline in average alumina spot price in China has been continuing since a week starting from November 25, 2021. According to the Shanghai Metals Market data, the price has decreased by RMB 43 per tonne on Thursday, December 2, to stand at RMB 3,351 per tonne. In Guangxi and Guizhou, alumina price has plunged by RMB 65 per tonne and RMB 60 per tonne, respectively, to come in at RMB 3,150 per tonne and RMB 3,300 per tonne, while the price in Shanxi has shrunk by RMB 50 per tonne to RMB 3,350 per tonne. In Shandong and Henan, alumina spot price has declined by RMB 40 per tonne to come in at RMB 3,460 per tonne and RMB 3,375 per tonne, as of December 2. Caustic soda (32% concentration) price in Shandong has inched down by RMB 5 per tonne to hover around RMB 805 per tonne on December 2,...
