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.
Alba announces stellar performance for 3Q2021 - Profit improves to BD125.9 million as revenue grows 48%
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, has announced the third quarter and nine months report of 2021, wherein it has mentioned a profit of BD125.9 million (US$335 million) for Q3 2021, versus a Loss of BD11.6 million (US$30.9 million) for the same period in 2020. The total comprehensive income stood at BD126.4 million (US$336.1 million) in Q3 as against BD11.7 million (US$31.1 million) a year ago. With regards to revenue, it increased by 48 per cent year-on-year from BD262.7 million (US$698.6 million) to BD388.9 million (US$1,034.2 million) in 3Q2021. In nine months, Alba earned a profit of BD270.7 million (US$720 million), up by 1,320 per cent YoY, versus a Loss of BD22.2 million (US$59.1 million) for the same period in 2020. Comprehensive...
China’s A00 aluminium ingot price opens the week higher at RMB20240/t; Aluminium alloy (A356) price climbs RMB100/t
A00 aluminium ingot price in China has increased by RMB 40 per tonne to stand at RMB 20,240 per tonne on Monday, November 1, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,220 per tonne and RMB 20,260 per tonne, with average prices likely to range between RMB 100-60 per tonne, down by RMB 20 per tonne from the previous day. In Foshan, A00 aluminium ingot price has climbed by RMB 70 per tonne to stand at RMB 20,270 per tonne, followed by the rise of RMB 45 per tonne in Chongqing to RMB 20,235 per tonne. In Gongyi, Wuxi, and Hangzhou, primary aluminium ingot price has gained RMB 30 per tonne to come in at RMB 20,130 per tonne, RMB 20,220 per tonne, and RMB 20,230 per tonne, respectively. In Linyi, A00 aluminium ingot price has grown by RMB 20 per...
Primary Aluminium Weekly Recap: QAMCO reports highest ever quarterly net profit of QR233 million for 3Q2021; NALCO slashes aluminium ingot price by INR19100/t
This week has been a week for quarterly updates from many stalwart primary aluminium companies such as Hydro, Qamco, Chalco, and Vedanta. Hydro announced that in 3Q2021, it produced 573,000 tonnes of primary aluminium, which was 2 per cent up from 561,000 tonnes in Q2 2021 and 10 per cent higher than 522,000 tonnes in Q3 2020. It also revealed that its revenue in Q3 was 6 per cent more than in Q2 2021 and 33 per cent higher than in Q3 2020 at NOK 36,710 million. In total nine months, Hydro churned out 1.673 million tonnes of primary aluminium as compared to 1.559 million tonnes a year ago. To know more: https://www.alcircle.com/news/hydros-primary-aluminium-production-in-3q2021-grows-2-to-573-000-tonnes-ebitda-from-primary-aluminium-totals-nok4-263-million-71748 Qatar Aluminium...
LME aluminium price losses US$222/t this week to close at US$2695/t; SHFE price shrinks to US$3184/t
LME aluminium benchmark price shrunk by US$222 per tonne throughout the week ended October 29, 2021. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, October 25, at US$2,916.50 per tonne and US$2,917 per tonne. They both plunged on October 26 for the sixth day in a row by US$86 per tonne to US$2,830.50 per tonne and US$2,831 per tonne. On October 27, the prices again fell sharply by US$127 per tonne to come in at US$2,703.50 per tonne and US$2,704 per tonne, but moved up the next day to US$2,720.50 per tonne and US$2,721 per tonne. On Friday, October 29, both LME aluminium cash (bid) price and LME official settlement price closed the week US$2,694.50 per tonne and US$2,695 per tonne, respectively. 3-month bid price and 3-month offer price...
Alumina production in Europe (incl. Russia) shows M-on-M fall of 8.3% to 838,000 tonnes during September 2021
In September 2021, alumina production in Europe (including Russia) stood at 838,000 tonnes, reflecting a month-on-month decline of 8.32 per cent, found the International Aluminium Institute. In August 2021, the output came in at 914,000 tonnes, up by 2.12 per cent from 895,000 tonnes a month ago. On a year-on-year calculation, alumina production in Europe during September 2021 increased by 4.88 per cent from 799,000 tonnes. Total alumina production in the third quarter of 2021 amounted to 2.647 million tonnes, 2.64 per cent higher than 2.579 million tonnes in Q2 2021 and 4.17 per cent more than 2.541 million tonnes in Q3 2020. From January to September, alumina production in Europe (including Russia) totalled 7.802 million tonnes, up by 2.59 per cent from 7.605 million tonnes during the...
Hindalco Industries Limited further cuts its aluminium wire rod price significantly by INR11000/t
Hindalco Industries Limited again cut its aluminium products prices significantly, with effect from Thursday, October 28. Hindalco’s aluminium wire rod price came in at INR 247,850 per tonne after being plunged by INR 11,000 per tonne or 4.25 per cent from INR 258,850 per tonne on October 27. Hindalco’s aluminium billets price also saw a slash of INR 11,000 per tonne to INR 247,350 per tonne as of October 28. On the previous day, the price stood at INR 258,850 per tonne, seeing a plunge of INR 6,500 per tonne. Hindalco is currently selling its aluminium ingot at INR 236,750 per tonne as compared to INR 247,750 per tonne on October 27. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange,...
Hydro’s primary aluminium production in 3Q2021 grows 2% to 573,000 tonnes; EBITDA from primary aluminium totals NOK4,263 million
Hydro has announced in its 3Q2021 results that it produced 573,000 tonnes of primary aluminium in the said period. That was up by 2 per cent from 561,000 tonnes in Q2 2021 and 10 per cent higher than 522,000 tonnes in Q3 2020. Backed on the increase in production and surge in LME aluminium price, Hydro earned the revenue of NOK 36,710 million in Q3 2021, 6 per cent more than in Q2 2021 and 33 per cent higher than in Q3 2020. During the third quarter, the LME aluminium price skyrocketed to US$2,419 per tonne from US$2,210 per tonne in Q2 2021. In total nine months, Hydro churned out 1.673 million tonnes of primary aluminium as compared to 1.559 million tonnes a year ago. Hydro has reported that its adjusted EBITDA grew 100 per cent year-on-year to NOK 7,219 million in 3Q2021, of which NOK...
China’s primary aluminium inventories grow for two straight months to stand at 982,000 tonnes
China’s social inventories of primary aluminium rose 25,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to come in at 982,000 tonnes on Thursday, October 28. That marked the eighth consecutive week of rising, primarily contributed by higher arrivals of stocks in Wuxi, Shanghai, and Gongyi. Last week, on October 21, China’s primary aluminium inventories grew sharply by 70,000 tonnes from the previous week to close at 957,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more detail: Primary aluminium inventories in Wuxi increased the highest this week by 17,000 tonnes to 341,000 tonnes, followed by the rise of 6,000 tonnes in Gongyi to close at 90,000 tonnes. In Hangzhou and Linyi, primary...
China’s A00 aluminium ingot price jumps RMB860/t to stand above RMB20,000/t; Aluminium alloy(A356) price gains RMB800/t
A00 aluminium ingot price in China has jumped by RMB 860 per tonne to stand at RMB 20,200 per tonne on Friday, October 29, following incessant declines since October 22 from RMB 23,340 per tonne to RMB 19,340 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,180 per tonne and RMB 20,220 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne. In Hangzhou and Foshan, A00 aluminium ingot price is also standing at RMB 20,200 per tonne by gaining RMB 865 per tonne and RMB 860 per tonne, respectively, while the price in Wuxi and Linyi has hiked by RMB 850 per tonne and RMB 820 per tonne to close at RMB 20,190 per tonne and RMB 20,260 per tonne, respectively. In Gongyi, Tianjin, and Shenyang, primary aluminium ingot...
World alumina production edges 4.33% lower to 11.170 million tonnes in September 2021: IAI
According to the International Aluminium Institute, world alumina production in September 2021 stood at 11.170 million tonnes (including both metallurgical and chemical), which was down by 4.33 per cent from 11.675 million tonnes in August. In July, the output was 11.669 million tonnes, meaning alumina production across the world in August remained essentially unchanged month-on-month. On a year-on-year calculation, world alumina production in September stood 3.30 per cent higher than 10.813 million tonnes. In Q3 2021, world alumina production came in at 34.514 million tonnes, down by 2.64 per cent from 35.450 million tonnes in Q2 2021 but up by 3.30 per cent from 33.412 million tonnes in Q3 2020. From January to September 2021, world alumina production totalled 103.907 million tonnes, up...
NALCO continues to slash its aluminium ingot price by INR19100/t in line with M-o-M downfall of LME aluminium price
National Aluminium Company Limited (NALCO) has yet again cut its aluminium ingot price significantly, with effect from Thursday, October 28. In tandem with the incessant decline in LME aluminium benchmark price, NALCO has reduced its ingot price by INR 19,100 per tonne from INR 253,350-256,850 per tonne to INR 234,250-237,750 per tonne. On the previous day, October 23, NALCO’s aluminium ingot price had seen a slash of INR 18,500 per tonne or 6.8 per cent. NALCO’s aluminium wire rod price has also witnessed a sharp cut of INR 19,100 per tonne or 7.4 per cent to INR 236,750-241,100 per tonne. The company’s aluminium billets price is currently standing at INR 237,700-240,350 per tonne after being reduced from INR 256,800-259,450 per tonne. NALCO links its aluminium ingot and aluminium...
LME aluminium price records a sharp fall of US$127/t to US$2704/t; SHFE price plunges by US$184/t
Three-month LME aluminium opened at US$2,835 per tonne on Wednesday morning and closed at US$2,665.50 per tonne, down US$166.50 per tonne or 5.88 per cent. LME aluminium cash (bid) price and LME aluminium official settlement price have recorded a sharp fall of US$127 per tonne to stand at US$2,703.50 per tonne and US$2,704 per tonne, respectively, on Wednesday, October 27. 3-month bid price and 3-month offer price moved down to US$2,724.50 per tonne and US$2,725 per tonne. December 22 bid price and December 22 offer price hovered around US$2,673 per tonne and US$2,678 per tonne. LME aluminium opening stock on October 27 stood lower at1055300 tonnes. Live warrants remained restrained at 621150 tonnes, while cancelled warrants decreased to 434150 tonnes. LME aluminium 3-month Asian...
China’s A00 aluminium ingot price continues to fall sharply by RMB1140/t; Aluminium alloy (A356) price comes below RMB23000/t
A00 aluminium ingot price in China has nosedived by RMB 1,140 per tonne to come below RMB 20,000 per tonne on October 28. According to the Shanghai Metals Market, the price is standing at RMB 19,340 per tonne, with average prices likely to range between RMB 19,320 per tonne and RMB 19,360 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne, up by RMB 30 per tonne from the previous day. In Shenyang, the primary aluminium ingot price has plummeted by RMB 1,055 per tonne to stand at RMB 19,490 per tonne, while the price in Foshan and Chongqing has plunged by RMB 1,050 per tonne to come in at RMB 19,340 per tonne and RMB 19,330 per tonne, respectively. In Hangzhou, A00 aluminium ingot price has seen a decrease of RMB 1,145 per tonne to RMB 19,335 per tonne,...
Rusal’s bauxite production in 9M2021 grows 1.1% to 3.792 million tonnes; Alumina output improves 2.1% Y-o-Y
Rusal, the world’s largest aluminium producer outside China, has announced its operating results for the third quarter of 2021, ended September 30. The company revealed that its bauxite production dropped 1.1 per cent Q-o-Q from 3.836 million tonnes to 3.792 million tonnes in 3Q2021. In total nine months, the production amounted to 11.429 million tonnes, up by 1.2 per cent from 11.298 million tonnes. Alumina output in Q3 remained essentially unchanged at 2.064 million tonnes, while the total production from January to September grew 2.1 per cent year-on-year from 6.040 million tonnes to 6.167 million tonnes. In Guinea, Rusal produced 1.694 million tonnes of bauxite in 3Q2021, which was down by 6.77 per cent from 1.817 million tonnes a quarter earlier. Rusal’s bauxite output in Russia...
Hydro investing NOK 390 million for a new automotive extrusion press at aluminium plant in Suzhou, China
According to a recent report, Hydro is opening a new automotive extrusion press at its aluminium manufacturing plant in Suzhou, China, by investing NOK 390 million. The new P60 12-inch press will expand the extrusion capacity at Suzhou, along with the expansion of the plant. The extrusion press will manufacture automotive components, including crash management systems, such as bumper beams and crash boxes, as well as side sill inserts, side beams, and longitudinal beams. Besides, the new press will support other customer needs ranging from mill-finished extrusions to fabricated assemblies. Executive vice president Paul Warton, who leads Hydro’s Extrusions business, said: “We’ve succeeded in building a platform in China toward the e-vehicle market, but we need more capacity to satisfy the...
Hindalco sharply cuts its aluminium billets price by INR6500/t in tandem with sixth consecutive fall of LME aluminium price
On Wednesday, October 27, Hindalco Industries Limited has slashed its aluminium products prices, in line with the sixth consecutive day of LME aluminium price fall. The company has reduced its aluminium billets price by INR 6,500 per tonne to INR 258,350 per tonne. On the previous day, the price was at INR 264,850 per tonne. Hindalco’s aluminium wire rod price has also witnessed a sharp cut of INR 6,500 per tonne from INR 265,350 per tonne on October 26 to INR 258,850 per tonne on October 27. The company’s aluminium ingot price has come in at INR 247,750 per tonne from INR 254,250 per tonne on the earlier day. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which nosedived after...
LME aluminium price nosedives by US$86/t to stand at US$2831/t; SHFE price declines by US$37/t
Three-month LME aluminium opened at US$2,893 per tonne on Tuesday morning and closed at US$2,832 per tonne, down US$64.50 per tonne or 2.23 per cent. LME aluminium cash (bid) price and LME aluminium official settlement price plunged for the sixth day in a row by US$86 per tonne to stand at US$2,830.50 per tonne and US$2,831 per tonne, respectively, on Tuesday, October 26. 3-month bid price and 3-month offer price settled at US$2,844 per tonne and US$2,844.50 per tonne. December 22 bid price and December 22 offer price hovered around US$2,767 per tonne and US$2,772 per tonne. LME aluminium opening stock on October 26 stood at 1064425 tonnes. Live warrants for the same day totalled 621150 tonnes, while cancelled warrants stood at 443275 tonnes. LME aluminium 3-month Asian Reference Price...
A00 aluminium ingot price in China shrinks by RMB380/t; Aluminium alloy (A356) price comes below RMB24000/t
A00 aluminium ingot price in China has registered a decline yet again by RMB 380 per tonne to stand at RMB 20,480 per tonne on Wednesday, October 27, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,460 per tonne and RMB 20,500 per tonne, with spot contract to be traded at a premium price of RMB 100-60 per tonne. In Gongyi and Foshan, primary aluminium ingot price has plunged by RMB 390 per tonne and RMB 380 per tonne, respectively, to come in at RMB 20,400 per tonne and RMB 20,490 per tonne, while the price in Shenyang has shrunk by RMB 375 per tonne to peg at RMB 20,545 per tonne. In Wuxi, Hangzhou, and Chongqing, A00 aluminium ingot price has declined by RMB 370 per tonne to close at RMB 20,480 per tonne, and the price in Tianjin and Linyi has...
