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.
LME aluminium price opened this week at a 10-year high but closed lower at US$2696/t; SHFE price continued rising to US$3302/t
LME aluminium cash (bid) price and LME official settlement price reached a 10-year high this week at US$2,714 per tonne as of Tuesday, August 31. Due to a summer bank holiday, the LME market was closed on Monday and started the week on Tuesday. Next day, on September 1, both LME aluminium cash (bid) price and LME official settlement price decreased by US$46.50 per tonne to stand at US$2,667.50 per tonne. On Thursday, September 2, LME prices gained US$27 per tonne to come in at US$2,694.50 per tonne. LME aluminium cash (bid) price and LME official settlement price closed the week on Friday, September 3, a slightly higher by US$1.50 per tonne to US$2,696 per tonne. 3-months bid price and 3-months offer price climbed US$ 40.50 per tonne on Tuesday, August 31, to come in at US$ 2,696 per...
China’s aluminium billet inventories increase 14,600 tonnes this week on large arrivals of stocks and weaker purchases
According to the Shanghai Metals Market data, aluminium billet inventories in China built-up 14,600 tonnes or 11.7 per cent from a week ago to stand at 139,000 tonnes on Thursday, September 2. Last week, on August 26, China’s aluminium billet inventories hovered around 124,400 tonnes after declining by 6,200 tonnes across five major consumption areas. Large arrivals at warehouses amid weaker purchases resulted in inventory accumulation, found SMM. Downstream aluminium extrusion companies reduced purchases due to poor orders and high aluminium prices. The chart below indicates the current status of aluminium billet inventories across China in more detail: In Foshan, aluminium billet inventory jumped by 10,500 tonnes to come in at 67,400 tonnes on September 3. In Nanchang, inventory grew by...
ASI certifies Alcoa’s two smelting facilities in Quebec against Performance Standard Certification
According to a recent report, Aluminium Stewardship Initiative (ASI) has successfully certified Alcoa’s Aluminerie de Bécancour (ABI) and Aluminerie de Deschambault smelters in Quebec, Canada, against the Performance Standard Certification for responsible production, sourcing and stewardship of aluminium. The two smelting facilities have a combined annual production capacity of more than 670,000 tonnes of aluminium ingots, billets and slabs. 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,...
China’s alumina spot price continues to grow to stand at RMB3074/t; A00 aluminium ingot price settles RMB100/t higher
The average alumina spot price in China has continued to grow for the fifth day in a row to reach at RMB3,074 per tonne as of Friday, September 3. According to the Shanghai Metals Market, the price has increased by RMB45 per tonne today from RMB3,029 per tonne on September 2. In Shandong, alumina price has surged by RMB75 per tonne to stand at RMB3,075 per tonne, while the price in Henan and Shanxi has climbed RMB50 per tonne to come in at RMB3,100 per tonne. Australian alumina FOB price has, however, continued to remain restrained at US$320 per tonne as of September 3. Among other primary aluminium input costs, aluminium powder price has inched up by RMB0.10 per kg to stand at RMB24.85 per kg. The average prices are expected to range between RMB24.8-24.9 per kg. A00 aluminium ingot price...
LME aluminium price gained 1% to reach at US$2694.5/t; SHFE price continued to increase to US$3302/t
LME aluminium benchmark price closed 1 per cent higher on Thursday, September 2. LME aluminium cash (bid) price and LME official settlement price increased by US$27 per tonne to stand at US$2,694.50 per tonne on Thursday, September 2, following a decline of US$46.50 per tonne on the previous day. 3-months bid price and 3-months offer price surged by US$41 per tonne to come in at US$2,705.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$2,661.50 per tonne, up by US$41.50 per tonne from US$2,620 per tonne on September 1. LME aluminium opening stock slipped from 1336850 tonnes to 1335300 tonnes. Live Warrants stood at 862600 tonnes, while Cancelled Warrants totalled 472700 tonnes. LME aluminium 3-months Asian Reference Price settled at US$2,728.42 per tonne as of...
NALCO’s aluminium ingot selling price drops by INR2000/t with effect from September 1
National Aluminium Company Limited (NALCO) has decreased its aluminium ingot and aluminium products prices with effect from Wednesday, September 1. After rebounding by INR 8,000 per tonne on August 25, NALCO’s aluminium ingot price has reduced by INR 2,000 per tonne or 0.88 per cent from INR 226,750-230,250 per tonne on August 25 to INR 224,750-228,250 per tonne on September 1. NALCO’s aluminium wire rod price has come in at INR 227,250-231,600 per tonne, declining by INR 2,000 per tonne from INR 229,250-233,600 per tonne in the previous week. The company’s aluminium billets price has also seen a cut of INR 2,000 per tonne to stand at INR 228,200-230,850 per tonne with effect from September 1. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product...
Primary aluminium inventories in China fall 5,000 tonnes after three consecutive weeks of hike
According to the Shanghai Metals Market, social inventories of primary aluminium across eight major Chinese consumption areas have fallen this week by 5,000 tonnes after recording hikes for the past three consecutive weeks. SMM data shows the inventories have come in at 749,000 tonnes as of September 2, compared to 753,000 tonnes last week. The chart below indicates the current status of primary aluminium inventories across China in more detail: Wuxi, Gongyi, and Shanghai have contributed most of the decline as inventories there have decreased by 10,000 tonnes, 6,000 tonnes, and 2,000 tonnes, respectively. Therefore, the inventory in Wuxi has come in at 235,000 tonnes, Gongyi 63,000 tonnes, and Shanghai 71,000 tonnes. Meanwhile, inventory in Nanhai has grown due to poor demand by 11,000...
Vedanta cuts aluminium wire rod and billet prices by 1.7% on September 2 after three consecutive hikes
Vedanta Limited has decreased its aluminium products prices by INR 4,000 per tonne or 1.68 per cent with effect from Thursday, September 2, bringing the aluminium wire rod price to INR 233,750-241,250 per tonne from INR 237,750-245,250 per tonne on August 28. The company’s aluminium billet price has come in at INR 234,250 per tonne, compared to INR 238,250 per tonne last week. Vedanta’s aluminium ingot price has not been barred from the cut and therefore standing at INR 226,250-239,250 per tonne, also down by INR 4,000 per tonne from INR 230,250-243,250 per tonne on August 28. Vedanta limited links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which plunged by US$46.50 per tonne on Wednesday, September 1, to settle...
Hindalco Industries reduces aluminium ingot price by INR4,000/t as LME aluminium price descends from 10-year high
Hindalco Industries Limited has decreased its aluminium ingot and aluminium products prices with effect from Thursday, September 2, after increasing them for three consecutive times from August 24-28. From today, Hindalco is selling its aluminium ingot at INR 225,750 per tonne, down by INR 4,000 per tonne from INR 229,750 per tonne on August 28. Hindalco’s aluminium wire rod price has come in at INR 236,850 per tonne with effect from September 2, a decrease of INR 4,000 per tonne as well from INR 240,850 per tonne. The company’s aluminium billets price has also seen a cut of INR 4,000 per tonne from INR 236,850 per tonne on August 28 to INR 232,850 per tonne on September 2. <iframe width="500" height="380" src="https://www.youtube.com/embed/Cn4YIgmVRc0" title="YouTube video player"...
A00 aluminium ingot price in China closes up at RMB21,230/t; Aluminium alloy(A356) price soars above RMB22,000/t
A00 aluminium ingot price in China has recorded an increase of RMB70 per tonne on Thursday, September 2, following a downfall of RMB80 per tonne on the previous day. According to the Shanghai Metals Market, primary aluminium ingot price has come in at RMB21,230 per tonne, with average prices likely to range between RMB21,210-21,250 per tonne. The spot contract is expected to be traded at a premium price of RMB40-0 per tonne. In Foshan, A00 aluminium ingot price has gained RMB110 per tonne to stand at RMB21,350 per tonne, while the price in Wuxi, Hangzhou, and Shenyang has increased by RMB100 per tonne to RMB21,230 per tonne, RMB21,260 per tonne, and RMB21,225 per tonne, respectively. Primary aluminium ingot price in Gongyi, Chongqing, and Linyi has grown by RMB80 per tonne to settle at...
LME aluminium price shrank by US$46.5/t to close at US$2667.5/t; SHFE price inched up by U$5/t
LME aluminium opened at US$2,710 per tonne on Wednesday morning and closed at US$2,693.50 per tonne, down by US$13 per tonne or 0.48 per cent. LME aluminium cash (bid) price and LME official settlement price plunged by US$46.50 per tonne to stand at US$2,667.50 per tonne on Wednesday, September 1, following the two consecutive days of rise to a 10-year high. 3-months bid price and 3-months offer price declined by US$31.50 per tonne to come in at US$2,664.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$2,620 per tonne, down by US$28 per tonne from US$2,648 per tonne on August 31. LME aluminium opening stock increased from 1334675 tonnes to 1336850 tonnes. Live Warrants stood at 862625 tonnes, while Cancelled Warrants totalled 474225 tonnes. LME aluminium 3-months...
US alumina imports decline 8% Q-o-Q to 383,000 tonnes during 2Q2021; Imports from Brazil increase 14.5%
In the second quarter of 2021, the United States imported 383,000 tonnes of alumina, a decrease of 33,000 tonnes or 7.93 per cent from 416,000 tonnes in the first quarter, found the US Census Bureau. However, on a year-on-year calculation, the United States alumina imports in Q2 2021 stood 6.09 per cent higher than 361,000 tonnes. In the six-month period, the United States total alumina imports amounted to 799,000 tonnes, up 11.28 per cent from 718,000 tonnes during the same period last year. Brazil continued to be the leading exporter of alumina to the United States, supplying 252,000 tonnes in Q2 2021. That was up by 32,000 tonnes or 14.55 per cent from 220,000 tonnes in Q1 2021. On a year-on-year basis, the export from Brazil to the US stood 27.92 per cent higher than 197,000 tonnes....
Top Chinese smelters assure to stabilise aluminium prices from new highs: CNIA
On Monday, August 30, the China Nonferrous Metals Industry Association (CNIA) held a meeting attended by the country’s top aluminium smelters to discuss the continuous surge in aluminium prices, both on the Shanghai Futures Exchange and the London Metal Exchange. Reaching at a 13-year high, aluminium price on the Shanghai Future Exchange stood at RMB21,550 per tonnes on Monday, the highest since August 2008, driven by production curbs in key Chinese smelting regions due to flood and strict power consumption restrictions. On a year-to-date basis, Shanghai aluminium price is up by more than 37 per cent even after releasing some metal from state reserves, in a bid to ease cost pressure on manufacturers. On Tuesday, August 31, the LME aluminium benchmark price notched a 10-year peak at...
Hulamin’s aluminium rolled product sales grow 43% in H1 2021; Revenue spike 50% to R5.5 billion
South Africa-based aluminium supplier and exporter Hulamin recorded flattering results for both its rolled and extruded product segments, despite the ongoing Covid-19 pandemic. During the six-month period ended June 30, Hulamin’s rolled and extruded product sales rose 43 per cent and 58 per cent, respectively, from the same period last year. As report revealed, Hulamin’s profit improved, generating free cash flows of R128 million. Hulamin’s overall group sales volume increased 44 per cent to 102,000 tonnes for the period, while revenue spiked 50 per cent to INR5.5 billion. EBITDA also saw a hike of 166 per cent to INR78.6 million, while basic earnings a share surged by 139 per cent to 29c. Enhancement in Hulamin’s both rolled and extruded products included improvements in capacity...
China’s alumina spot price nears RMB3000/t by building-up RMB76/t; But A00 aluminium ingot price slips by RMB80/t
The average alumina spot price in China has continued to increase for the third day in a row by RMB76 per tonne to RMB2,974 per tonne on Wednesday, September 1, found the Shanghai Metals Market. In Guangxi and Guizhou, alumina price has surged by RMB125 per tonne to stand at RMB2,850 per tonne, and by RMB75 per tonne in Henan to RMB3,000 per tonne. In Shandong and Shanxi, alumina price has climbed RMB60 per tonne to settle at RMB2,925 per tonne and RMB3,000 per tonne, respectively. Australian alumina FOB price has remained muted at US$320 per tonne. SMM data shows prebaked anode price in the East has increased after remaining restrained since early August. The price has soared by RMB355 per tonne to stand at RMB5,230 per tonne, with average prices likely to range between RMB4,660-5,800...
LME aluminium price closed Tuesday trading up at US$2714/t; SHFE price slipped by US$13/t to US$3278/t
Three-month LME aluminium rose 1.98 per cent to end at US$ 2,706.50 per tonne on Tuesday, August 31. LME aluminium cash (bid) price and LME official settlement price opened the week on Tuesday, August 31, with a surge of US$ 40.50 per tonne to US$ 2,714 per tonne. On Monday, August 30, the LME market was closed for a summer bank holiday. As of Tuesday, 3-months bid price and 3-months offer price also climbed by US$ 40.50 per tonne to come in at US$ 2,696 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,648 per tonne, up by US$ 30.50 per tonne from US$ 2,617.50 per tonne on August 27. LME aluminium opening stock slipped from 1338125 tonnes to 1334675 tonnes. Live Warrants stood at 849900 tonnes, while Cancelled Warrants totalled 484775 tonnes. LME aluminium 3-months...
Global aluminium price rally to 10-year high lifts aluminium product cost
The sharp spike in aluminium prices to the 10-year high due to limited production in China, the world’s largest aluminium producer, for restricted energy usage is reportedly rippling through the cost of end-user products, right from Heineken cans to kitchen wrap. Until now this year, the global aluminium prices have climbed by over 30 per cent from US$ 2013.50 per tonne to US$ 2673.50 per tonne. This has been a boon for Pittsburgh-based Alcoa, the world’s eighth-largest aluminium producer, whose stock price has almost doubled during this span. But for many other companies like Reynolds Consumer Products and Heineken cans, aluminium price rally has resulted in a different story. Reynolds Consumer Products’ CFO recently told analysts that it’s facing hikes in production costs due to higher...
Kaiser Aluminum receives $1.25 million grant from TNECD for relocating headquarters
According to a recent report, the Tennessee Department of Economic and Community Development (TNECD) has announced to award $1.25 million grant to Kaiser Aluminum Investments to move its company headquarters from California to Franklin. The grants provided by TNECD are FastTrack grants from the state given to companies for job training projects or infrastructure development for purchasing or relocating equipment, building repairs and improvements, temporary office space or other temporary equipment related to relocation or expansion. Recently, Tenessee awarded grants to Kairos Power and Smart USA Company, each received $500,000 grants. Tenessee also awarded Barrette Outdoor Living with $874,800 for its $33 million Hawkins County expansion that is expected to create 162 new jobs in Bulls...
