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.
Aluminium Ingot production in Iran grows 23% Y-o-Y to 260,679 tonnes during H1 2021
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported that the aluminium ingot production in Iran registered a hike of 23 per cent during the first six months of the nation’s calendar year (from March 21 to September 21) as compared to the same period last year. The organization also revealed that four major aluminium producers of Iran churned out 260,679 tonnes of aluminium ingot in total within the first six months of the year, while during the same period last year, the production stood at 211,779 tonnes. The large producers included Iran Alumina Company, Al-Mahdi Aluminum Production Co., IRALCO and SALCO. In the first four months of Iranian calendar year, aluminium ingot production stood at 175,000 tonnes, reflecting an increase of 26.30 per...
North America’s primary aluminium production in 3Q2021 declines 4% Q-o-Q to 952,000 tonnes; Output in South America grows 2%
In September 2021, North America produced 304,000 tonnes of primary aluminium compared to 315,000 tonnes in August, found the International Aluminium Institute (IAI). That was down by 11,000 tonnes or 3.49 per cent month-on-month, learned the data. On a year-on-year calculation, North America’s primary aluminium production was 4.1 per cent or 13,000 tonnes less than 317,000 tonnes. From July to September (Q3 2021), North America churned out 952,000 tonnes of primary aluminium, which reflected a decrease of 4.23 per cent quarter-on-quarter from 994,000 tonnes. Also over the year, the output stood 2.96 per cent lower than 981,000 million tonnes. In total nine months of the year, North America’s primary aluminium production amounted to 2.932 million tonnes, down by 1.48 per cent from 2.976...
Hydro reports strong operations in bauxite, alumina for 3Q2021; 100% production growth leads to NOK36,710 million revenue
Hydro has announced in its quarterly results today that it has already reached the 2021 improvement target of NOK 5.1 billion during the third quarter of 2021 (ended on September 30), driven by global demand recovery and fiscal stimulus. As per the result revealed by Hydro, the company has achieved a 33 per cent hike in revenue from NOK 27,516 million in Q3 2020 to NOK 36,710 million in Q3 2021. On a quarter-on-quarter basis, it grew 6 per cent from NOK 34,559 million. Total revenue in nine months amounted to NOK 103,221 million compared to NOK 84,468 million a year ago. Adjusted EBITDA in Q3 2021 gained 100 per cent year-on-year from NOK 3,100 million to NOK 7,219 million. In nine-month time, it stood at NOK 18,998 million, an increase of 95.77 per cent from NOK 9,704 million. Under the...
Hindalco Industries continues to reduce aluminium prices by INR5250/t with effect from October 23
Hindalco Industries Limited has decreased its aluminium products and aluminium ingot prices with effect from Saturday, October 23, bringing its aluminium wire rod price to INR 267,100 per tonne. That was down by INR 5,250 per tonne or 1.93 per cent from INR 272,350 per tonne on October 22. Hindalco’s aluminium billets price also saw a cut of INR 5,250 per tonne on October 23 from INR 271,850 per tonne to INR 266,600 per tonne. The company’s aluminium ingot price also plunged by INR 5,250 per tonne to INR 256,000 per tonne, which on October 22 stood at INR 261,250 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 further decreased by US$64 per tonne from US$3,014 per...
Swisstek Aluminium turns to renewable energy usage, installs solar power generation facilities
Swisstek Aluminium Limited, a Sri Lanka-based aluminium product manufacturer, is now part of the national sustainability drive through solar power generation facilities installation at its factory complex to shift to the usage of renewable energy. This initiative is expected to boost the company’s export share, considering the global aluminium consumers preference for materials from eco-friendly manufacturers. A rooftop solar panel array has been installed, given the factory’s large area and roof capacity. Thus, a total of 3,340 photovoltaic panels have been installed under the Ceylon Electricity Board’s net plus scheme, with a significant investment of over INR 156.5 million. The rooftop solar panels enable the generation of up to 30 per cent of the factory’s power consumption, whilst...
China’s A00 aluminium ingot price descends for the third day in a row to RMB 20,860/t; Aluminium alloy (A356) price slumps by RMB1000/t
A00 aluminium ingot price in China has continued to decline for the third day in a row by a significant amount of RMB 790 per tonne to stand at RMB 20,860 per tonne on October 26, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,840 per tonne and RMB 20,880 per tonne, with spot contract to be traded at a premium price of RMB 100-60 per tonne. In Hangzhou, Chongqing, and Wuxi, A00 aluminium ingot price is standing at RMB 20,850 per tonne by losing RMB 810 per tonne, RMB 795 per tonne, and RMB 790 per tonne, respectively. In Shenyang, primary aluminium ingot price has also plunged by RMB 790 per tonne but come in at RMB 20,920 per tonne. In Gongyi and Foshan, the price has plunged by RMB 770 per tonne and RMB 750 per tonne to close at RMB 20,790 per...
QAMCO records highest quarterly net profit of QR233 million during 3Q2021, buoyed by strong aluminium pricing
Qatar Aluminium Manufacturing Company (QAMCO) has announced the highest ever quarterly net profit of QR233 million during Q3 2021, ended September 30, as it has reaped the benefit of strong aluminium pricing amid renewed demand and restrained supply. That brought the total net profit to QR521 million for the nine-month period, an increase of 4,242 per cent from QR12 million during the same period last year. QAMCO’s share of revenue from JV amounted to QR2,127 million from January to September, compared to QR1,607 million a year ago, while its share of EBITDA stood at QR918 million, up by 104 per cent from QR450 million. QAMCO’s EBITDA margin was 43 per cent, while its closing cash balance was QR1.121 billion. QAMCO’s improved financial results were largely due to the growth in global...
ASI certifies Novelis’ rolling and recycling facility in Brazil against the Performance Standard Certification
The Aluminium Stewardship Initiative has successfully certified Novelis’ rolling and recycling activities at the facility in Pindamonhangaba, Brazil, against the Performance Standard Certification. The facility has an annual capacity of 490 thousand tonnes for recycling and 680 thousand tonnes for aluminium sheet, primary destined for beverage packaging and consumer and industrial packaging in South American region. The ASI Performance Standard defines environmental, social and governance principles and criteria, with the aim to address sustainability issues in the aluminium value chain. It sets out 59 criteria under the three sustainability pillars of Governance, Environment and Social, which address key issues such as biodiversity, Indigenous Peoples rights, and greenhouse gas...
A00 aluminium ingot price plunges by RMB250/t to settle at RMB21650/t; Aluminium alloy (A356) price closes lower at RMB25350/t
A00 aluminium ingot price in China has opened the week with a plunge of RMB 250 per tonne on Monday, October 25, to stand at RMB 21,650 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 21,630 per tonne and RMB 21,650 per tonne, with average prices likely to range between RMB100-60 per tonne. In Tianjin, Shenyang, and Linyi, A00 aluminium ingot price has come in at RMB 21,710 per tonne by losing RMB 300 per tonne, RMB 280 per tonne, and RMB 270, respectively. In Wuxi and Gongyi, the primary aluminium ingot price has decreased by RMB 255 per tonne and RMB 250 per tonne to stand at RMB 21,640 per tonne and RMB 21,560 per tonne, while the price in Hangzhou and Chongqing has reduced by RMB 240 per tonne and RMB 225 per tonne to peg at RMB 21,660...
NALCO sharply reduces its aluminium ingot price by INR18500/t or 6.8% with effect from October 23
National Aluminium Company Limited has sharply reduced its aluminium ingot and aluminium products prices with effect from Saturday, October 23, following a significant rise of INR 24,300 per tonne on October 15. With the latest cut, NALCO’s aluminium ingot price has come in at INR 253350-256850 per tonne, down by INR 18,500 per tonne or 6.8 per cent from INR 271,850-275,350 per tonne. NALCO’s aluminium wire rod price has also seen a plunge of INR 18,500 per tonne, which has brought the price from INR 274,350-278,700 per tonne to INR 255,850-260,200 per tonne. Aluminium billets price has come in at INR 256,800-259,450 per tonne compared to INR 275,300-277,950 per tonne on October 15. NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on...
Primary Aluminium Weekly Recap: Indian aluminium producers consuming expensive power from grid due to coal shortage; A00 aluminium ingot price in China comes below RMB22,000/t
Coal shortage continues to be a matter of concern for the Indian aluminium industry this week. However, Indian state-run coal exploitation and refining company, Coal India Limited (CIL) has clarified that the supply dry foil fuel to the non-power sector like aluminium, steel, etc. has been diminished, but not completely ceased as professed by some sectors. As reported by a senior official of CIL, the course of action has been taken to consummate emergency demands for power plants as the country encounters a coal crisis. To know more: https://www.alcircle.com/news/supply-of-dry-fuel-to-the-non-power-sector-is-regulated-not-stopped-coal-india-71645 According to another report, due to the limited coal stock as Coal India has curtailed supply, India’s aluminium makers are taking costlier...
Primary aluminium production in Africa grows 1.8% Q-o-Q to 403,000 tonnes in 3Q2021: IAI
Primary aluminium production in Africa stood at 132,000 tonnes during September 2021, reflecting a decrease of 4,000 tonnes or 2.94 per cent month-on-month, found the International Aluminium Institute. In August 2021, Africa produced 136,000 tonnes of primary aluminium, which was only 1,000 tonnes higher than 135,000 tonnes in July. From a year ago, Africa’s primary aluminium production in September registered an increase of only 1,000 tonnes from 131,000 tonnes. Africa’s total primary aluminium production during July-September (Q3 2021) came in at 403,000 tonnes, up by 1.77 per cent quarter-on-quarter from 396,000 tonnes and 0.50 per cent year-on-year from 401,000 tonnes. From January to September 2021, primary aluminium production in Africa totalled 1.184 million tonnes – 1.74 per cent...
US aluminium scrap imports from Mexico edge 800 tonnes lower in July 2021; Total imports in 7 months grow 46% Y-o-Y
The United States aluminium scrap imports from Mexico decreased in July 2021 following restraint in the previous month. According to the US Census Bureau data, the United States imported 800 tonnes less of aluminium scrap from Mexico in July than the earlier month. The imports stood at 18,000 tonnes in July compared to 18,800 tonnes in June. On a year-on-year calculation, the United States aluminium scrap imports from Mexico in July 2021 stood 62.16 per cent or 6,900 tonnes higher than 11,100 tonnes. From January to July 2021, the United States total aluminium scrap imports from Mexico amounted to 123,000 tonnes, up by 38,700 tonnes or 45.91 per cent from 84,300 tonnes during the same period last year. The United States total aluminium scrap imports in July 2021 stood at 58,100 tonnes,...
Hindalco’s aluminium ingot price plummets by INR10,500/t in line with two consecutive falls in LME aluminium price
Hindalco Industries Limited has sharply cut its aluminium ingot and aluminium products prices with effect from Friday, October 21, following several growths until October 19. Hindalco’s aluminium ingot price has shrunk by INR 10,500 per tonne from INR 277,000 per tonne to INR 266,500 per tonne. The company has also cut its aluminium wire rod price by INR 10,500 per tonne from INR 288,100 per tonne on October 19 to INR 277,600 per tonne on October 21. Aluminium billets price is standing at INR 277,100 per tonne compared to INR 287,600 per tonne on the previous 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 decreased during October 19-21 by US$162 per tonne to stand at...
A00 aluminium ingot price in China nosedives by RMB1440/t to stand below RMB22000/t; Aluminium alloy (A356) price settles at RMB25750/t
After an intermittent rise of RMB 220 per tonne on October 21, A00 aluminium ingot price in China has again decreased sharply to close the week below RMB 22,000 per tonne. The Shanghai Metals Market data has found that the primary aluminium ingot price has plummeted by RMB 1,440 per tonne on October 22 to come in at RMB 21,900 per tonne. The average prices are expected to range between RMB 21,880 per tonne and RMB 21,920 per tonne, with spot contract to be traded at a premium price of RMB 110-70 per tonne. In Chongqing, A00 aluminium ingot price has plunged by RMB 1,460 per tonne to stand at RMB 21,870 per tonne, and the price in Chongqing has declined by RMB 1,445 per tonne to peg at RMB 21,895 per tonne. In Hangzhou and Foshan, the primary aluminium ingot price has also declined...
Primary aluminium inventories in China witness a steep rise to 957,000 tonnes this week
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have sharply grown by 70,000 tonnes across eight major consumption areas, including SHFE warrants, to come in at 957,000 tonnes on Thursday, October 21. This drastic growth is caused by higher arrivals of stocks at warehouses amid sluggish demand. Last week on October 14, China’s primary aluminium inventories stood at 887,000 tonnes by gaining 25,000 tonnes week-on-week. The chart below indicates the current status of primary aluminium inventories across China in more detail: Among all the major Chinese cities, Wuxi has seen the highest growth of 28,000 tonnes week-on-week to stand at 324,000 tonnes, followed by the increase of 17,000 tonnes in Shanghai to peg at 96,000 tonnes. In Nanhai and Gongyi,...
Kaiser Aluminum's value-added revenue declines by $13 million Q-o-Q despite increase in net sales during 3Q2021
Kaiser Aluminum, an American producer of superior aluminum mill products, has revealed its third-quarter results mentioning net sales of $751 million, with value-added revenue of $305 million. The data indicates that the company’s revenue decreased quarter-on quarter by $13 million despite the hike of $10 in net sales. The net loss reported by Kaiser for Q3 was $2 million or $0.14 loss per share. Net income was $9 million or $0.57 earnings per share, down from $16 million or $1 earnings per share in Q2 2021. Adjusted operating income also fell in Q3 by $7 million on quarter from $33 million to $26 million. Adjusted EBITDA stood at $50 million in Q3 compared to $59 million in Q2 2021. However, on a year-on-year calculation, net income in Q3 increased from $6 million or 0.39 earnings per...
Hammerer Aluminium investing in a new recycling furnace; project expected to commence in early 2022
Austria-based high-quality aluminium products supplier Hammerer Aluminium Industries (HAI) is reportedly investing in a third recycling furnace at its Santana site in Romania, in response to the increasing demand for lightweight aluminium products. The new furnace is expected to produce high-quality aluminium recycling material at a full capacity from early 2022. Hammerer Aluminium CEO, Rob van Gils, said: "We are implementing the project quickly and will be able to supply the market with high-quality recycling material at full capacity from the beginning of 2022, as planned, and thus meet the increasing demand of our customers." For the planning and implementation of the furnace, the HAI Group is relying on Hertwich Engineering GmbH from Braunau in Upper Austria. The new plant will...
