AlCircle News Edited By "Debanjali Sengupta"
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Altech Recycling’s new plant in Arkansas to produce high-quality aluminum products for Toyota
The new recycling plant built by Altech Recycling LLC in North Little Rock, Arkansas, will produce recycled materials destined for new Toyota vehicles. The plant, worth $20 million, started operating in September. It came into existence after the St. Louis-based Alter Trading Company, a scrap metal company, acquired the Arkansas-based Tenenbaum Recycling Group’s eight facilities three-and-a-half years ago. The plant sources materials for recycling from automobile shredder facilities in North Little Rock and Rogers. Jack Grundfest, Alter Trading Corporation President and the former head of Tenenbaum, said the shredding process produces a stream of materials. The mixture of metals, known as zorba, reaches the plant, which separates lighter aluminium, a product known as twitch. The twitch...
Aluminium Packaging Company Ball Corporation reports net earnings of $179 million on sales of $3.6 billion in Q3 2021
Ball Corporation, the world's leading provider of innovative, sustainable aluminum packaging for beverage, personal care and household products has announced the third-quarter results of 2021, reporting net earnings of $179 million on sales of $3.6 billion, compared to $241 million net earnings on $3.1 billion sales a year ago. In nine months, net earnings totalled $581 million on sales of $10 billion versus $358 million on sales of $8.7 billion during the corresponding period of last year. Ball’s third quarter and year-to-date 2021 comparable earnings per diluted share were 94 cent and $2.52, respectively, compared to 89 per cent and $2.15 last year. "During the quarter, the company increased comparable earnings per diluted share by 6%, managed numerous supply chain inefficiencies and...
Century Aluminum reports 10% rise in net sales as shipments grow 3% to 196,095 tonnes during 3Q2021
Century Aluminum Company announced the third-quarter results of 2021 ended September 30, reporting a 10 per cent rise in net sales quarter-on-quarter from $528 million to $582.4 million. Shipments grew 3 per cent from 190,894 tonnes in Q2 2021 to 196,095 tonnes in Q3 2021. The company also reported a net loss of $52.4 million for the third quarter, which was $17.3 million lower than $35.1 million in the second quarter. The third-quarter results were negatively impacted by $46.7 million of net exceptional items, in particular $35.0 million of unrealized losses on derivative instruments, $7.7 million in legal settlements, and $4.0 million in share-based compensation costs. However, adjusted net loss improved sequentially by $22.1 million to $5.7 million in Q3. Adjusted EBITDA increased...
Primary aluminium inventories in China increase 12.3% to exceed 1 million tonnes on November 4
According to the Shanghai Metals Market, social inventories of primary aluminium built-up 31,000 tonnes or 12.32 week-on-week across eight major Chinese consumption areas. On Thursday, November 4, primary aluminium inventories came in at 1.01 million tonnes, contributed by higher stock arrivals in Wuxi, Linyi, and Shanghai. Last week, on October 28, primary aluminium inventories stood at 982,000 tonnes, climbing by 25,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more detail: Primary aluminium inventories in Wuxi this week gained the highest stocks of 21,000 tonnes week-on-week to stand at 362,000 tonnes, followed by the increase of 6,000 tonnes in Linyi to come in at 23,000 tonnes. In Shanghai and...
Alumina spot price in China continues to decline to come below RMB4000/t; A00 aluminium ingot price falls sharply by RMB1300/t
The average alumina spot price in China has declined for the fourth day in a row to stand below RMB 4,000 per tonne, found the Shanghai Metals Market. On Friday, November 5, the price has sharply decreased by RMB 88 per tonne to come in at RMB 3,926 per tonne. In Shandong and Guizhou, alumina price has plunged by RMB 105 per tonne to stand at RMB 3,925 per tonne and RMB 3,800 per tonne, respectively, while the price in Henan and Shanxi has shrunk by RMB 90 per tonne and RMB 85 per tonne to close at RMB 3,950 per tonne on November 5, learned SMM. China’s A00 aluminium ingot price has also recorded a steep fall of RMB 1,300 per tonne on November 5 to settle at RMB 18,650 per tonne, attributable to the hike in primary aluminium inventories. According to SMM, the average prices are expected...
Novelis Inc. earns net income of $237 million in 2QFY22; Adjusted EBITDA improves 22% to $553 million
Novelis Inc., the world leader in aluminum rolling and recycling, announced the second quarter results of FY2021-22 on Wednesday, November 3, revealing net income of $237 million compared to a net loss of $37 million in Q2 FY2021. Net income from continuing operations stood at $239 million versus $144 million a year ago. Novelis also reported that its net sales improved 38 per cent year-on-year in 2QFY22 from $3 billion to $4.1 billion, primarily driven by a 5 per cent increase in shipments and higher average aluminum prices. Flat rolled products shipments increased from 923 kilotonnes in Q2 FY21 to 968 kilotonnes in Q2 FY22, buoyed by strong demand for sustainable aluminum beverage packaging and specialty products. Adjusted EBITDA gained 22 per cent to $553 million in Q2 FY22 from $455...
Hindalco Industries Ltd further reduces aluminium ingot price by INR2500/t w.e.f. November 3
Hindalco Industries Limited has further reduced its aluminium ingot and aluminium products prices with effect from Wednesday, November 3. The company’s aluminium ingot price has come in at INR 234,250 per tonne, down by INR 2,500 per tonne from INR 236,750 per tonne on October 28. Hindalco, with effect with November 3, is selling its aluminium wire rod at INR 245,350 per tonne as compared to INR 247,850 per tonne in the previous week. Hindalco’s aluminium billets price also saw a cut of INR 2,500 per tonne on November 3 from INR 247,350 per tonne to INR 244,850 per tonne. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased after October 28 by US$15 per tonne to stand at...
Century Aluminum starts constructing $120 million worth new low-carbon billet casthouse at Grundartangi smelter
On Wednesday, November 3, Century Aluminum Company declared that its wholly-owned subsidiary, Norðurál Grundartangi ehf (“Norðurál”), started off the construction of a new low-carbon billet casthouse at Grundartangi, Iceland smelter. The new value-added casthouse will have a capacity of 150,000 tonnes of billet production, expanding Grundartangi’s primary foundry alloys annual capacity from the current 60,000 tonnes to 120,000 tonnes. The $120 million worth project is expected to commence production in Q1 2024, creating approximately 90 new jobs. Century Aluminum’s President and Chief Executive Officer Jesse Gary commented: "We are very excited to bring billet production to Grundartangi and, beginning in 2024, to bring low-carbon Natur-Al™ billet to the European market.” He added, “Once...
China’s average alumina price drops for the third day in a row to RMB4014/t; A00 aluminium ingot price climbs by RMB140/t
The average alumina spot price in China has slipped for the third day in a row by RMB 9 per tonne to stand at RMB 4,014 per tonne on Thursday, November 4, found the Shanghai Metals Market. In Shandong, Henan, and Shanxi, the price has decreased by RMB 10 per tonne to RMB 4,030 per tonne, RMB 4,040 per tonne, and RMB 4,035 per tonne, respectively. Alumina price in Guizhou and Guangxi has dropped by RMB 5 per tonne to come in at RMB 3,905 per tonne and RMB 3,845 per tonne. Meanwhile, A00 aluminium ingot price has increased by RMB 140 per tonne on November 4, to come in at RMB 19,950 per tonne. The average prices are likely to range between RMB 19,930 per tonne and RMB 19,970 per tonne, with spot contract estimated to be traded at a premium price of RMB 130-90 per tonne. In Foshan and...
Australian Bauxite Limited to build pilot plant to expand aluminium fluoride production
Australian Bauxite Limited is eyeing to expand aluminium fluoride production and thus, establishing a pilot plant on the mainland. The subsidiary, Alcore, initially aims at starting a commercial production at Bell Bay with a 10,000 tonnes per year capacity before ramping it up over time to 60,000 tonnes per year. "At current cost scenarios, this could achieve an EBITDA (earnings before interest, tax, depreciation and amortisation) of approximately $50 million per annum," said Sydney-headquartered Australian Bauxite in the September quarterly report. The company believes that the expansion of aluminium fluoride production capacity in Bell Bay, Tasmania, will provide a secured supply of raw material to Australian aluminium production, which is worth more than $4.5 billion per year....
Yunnan in China removes preferential electricity pricing for aluminium producers to control power consumption
Southwest China’s Yunnan province, one of the country’s largest aluminium-producing areas, has reportedly removed preferential electricity pricing for electrolytic aluminium producers to control power consumption amid shortages. The news came after the provincial government issued a policy on Monday prescribing an immediate cancellation of power price discounts and subsidies to the aluminium industry. This will result in an increase in electricity costs, estimates Shi Fuliang, co-founder of aluminium industry research firm ALD. Shi Fuliang said the province would adopt a tiered electricity pricing system. Yunnan used to offer preferential electricity pricing to aluminium companies at 16 per cent to 22 per cent lower than the industry average. The cost of electricity accounts for 40 per...
Alumina spot price in China shrinks by RMB87/t to close at RMB4023/t; A00 aluminium ingot price plunges by RMB300/t
The average alumina spot price in China has continued to decline to stand at RMB 4,023 per tonne on Wednesday, November 3. According to the Shanghai Metals Market, the price has decreased by RMB 87 per tonne compared to the drop of RMB 9 per tonne on the previous day. In Shanxi and Henan, the alumina price has shrunk by RMB 95 per tonne and RMB 90 per tonne to come in at RMB 4,045 per tonne and RMB 4,050 per tonne, respectively, while the price in Guizhou and Shandong has decreased by RMB 85 per tonne to close at RMB 3,910 per tonne and RMB 4,040 per tonne. The Australian alumina FOB price has dropped by US$15 per tonne to settle at US$435 per tonne on November 3. A00 aluminium ingot price has decreased for the second day in a row by RMB 300 per tonne to stand at RMB 19,810 per tonne on...
LME aluminium price falls 1.2% to settle at US$2680/t; SHFE benchmark price shrinks by US$38/t
LME aluminium opened at US$2,722 per tonne on Tuesday morning and closed at US$2,680 per tonne, down $39.50 per tonne or 1.45 per cent. On Monday, November 2, LME aluminium cash (bid) price shrank by US$ 33.50 per tonne or 1.24 per cent to stand at US$ 2,679 per tonne, while LME aluminium official settlement price plunged by US$33 per tonne to come in at US$2,680 per tonne. 3-month bid price and 3-month offer price totalled US$2,697 per tonne and US$2,698 per tonne. December 22 bid price and December 22 offer price closed at US$2,640 per tonne and US$2,645 per tonne, respectively. LME aluminium opening stock on November 2 declined from 1035525 tonnes to 1028325 tonnes. Live warrants settled at 625350 tonnes and cancelled warrants recorded at 402975 tonnes. LME aluminium 3-month Asian...
Arconic reports 5% growth in revenue for 3Q2021 on higher LME aluminium price; Sales improve 5% to $1.9 billion
Arconic Corporation, an American industrial company specialized in lightweight metals engineering and manufacturing, has reported the third-quarter results of 2021, revealing a 34 per cent hike in sales year-on-year to $1.9 billion. On a quarter-on-quarter basis, it grew by only 5 per cent. Net income came in at $16 million or $0.15 per share, compared with $5 million or $0.05 per share in Q3 2020. Adjusted EBITDA increased 4 per cent Y-o-Y but decreased 9 per cent quarter-on-quarter to $171 million in Q3 2021. Revenue earned in the third quarter was $1.9 billion, up 5 per cent from the prior quarter, attributed by higher aluminum prices and the start of packaging sales in the U.S., though partially offset by weaker than expected ground transportation sales. Arconic’s revenue from...
US aluminium scrap exports to Hong Kong jump by above 200% Y-o-Y in July 2021
The United States aluminium scrap exports to Hong Kong inched up by only 300 tonnes in July 2021, following a decline in the previous month. According to the US Geological Survey, aluminium scrap exports from the US to Hong Kong stood at 19,200 tonnes in July compared to 18,900 tonnes in June 2021. In May, the exports came in at 28,700 tonnes, meaning it fell in June by 34.15 per cent month-on-month. On a year-on-year calculation, the United States aluminium scrap exports to Hong Kong in July 2021 grew 279 per cent from 5,060 tonnes. From January to July 2021, the United States aluminium scrap exports to Hong Kong totalled 161,000 tonnes, 266.74 per cent higher than 43,900 tonnes during the same period last year. The United States total aluminium scrap exports in July 2021 amounted to...
New Day Aluminum’s Noranda Alumina rebrand as Atlantic Alumina Company
New Day Aluminum Holdings LLC, the parent company of Noranda Alumina and Noranda Bauxite, has officially announced the rebranding of its business to the Atlantic Alumina Company (ATALCO). The company will rebrand all its metallurgical and non-metallurgical bauxite and alumina operations in a staged rollout over the next few months. While Noranda Bauxite will become Discovery Bauxite, covering both metallurgical and non-metallurgical bauxite in partnership with the Government of Jamaica, Noranda Alumina and NICHE Chemical will become Atlantic Alumina, with the business covering both metallurgical and non-metallurgical alumina products. Besides this, New Day Aluminum has also announced that its Gramercy alumina refinery has returned to normal production levels in October after surviving...
Average alumina spot price in China slips by RMB9/t to settle at RMB4110/t; A00 aluminium ingot price declines by RMB130/t
The average alumina spot price in China has slipped by RMB 9 per tonne on November 2 after over a week-long restraint from October 22 to November 1. According to the Shanghai Metals Market data, the average alumina spot price has come in at RMB 4,110 per tonne as of November 2. In Henan and Shanxi, the alumina price has dropped by RMB 10 per tonne to stand at RMB 4,140 per tonne, while the price in Shandong has settled at RMB 4,125 per tonne by also losing RMB 10 per tonne on November 2. In Guizhou and Guangxi, alumina price has inched down by RMB 5 per tonne to close at RMB 3,995 per tonne and RMB 3,895 per tonne, respectively. Among other primary aluminium input costs, caustic soda (32% concentration) price in Shandong has decreased by RMB 85 per tonne to come in at RMB 1,285 per tonne,...
South America’s alumina production reflects a downfall of 7% in September 2021: IAI
According to the International Aluminium Institute, alumina production in South America in September 2021 stood at 874,000 tonnes, reflecting a downfall of 6.72 per cent or 63,000 tonnes month-on-month. In August, alumina output in South America came in at 937,000 tonnes after being decreased by 25.22 per cent from 1.253 million tonnes in July. On a year-on-year calculation, South America’s alumina production in September 2021 edged 17.63 per cent or 131,000 tonnes higher than 743,000 tonnes. In the third quarter of 2021, alumina production in South America totalled 2.830 million tonnes, down by 11.31 per cent from 3.191 million tonnes in the second quarter. Compared to the September quarter of 2020, the production of the ore stood 5.48 per cent higher than 2.683 million tonnes. From...
