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.
Rusal reports a Y-o-Y rise in revenue by 36% to US$5,449 million despite flat aluminium production in 1H2021
In the Interim Results of 2021, Rusal, the world’s leading aluminium producer, has announced that its aluminium production in the six months ended June 30 stood flat at 1.868 million tonnes compared to 1.867 million tonnes a year ago. However, sales of both primary aluminium and alloys increased 5.8 per cent on year from 1.890 million tonnes to 2 million in H1 2021, resulting in the increase in revenue by 35.7 per cent from US$ 4,015 million in H1 2020 to US$ 5,449 million in H1 2021. Adjusted EBITDA jumped by 500.50 per cent from US$ 219 million to US$ 1,315 million. At the same time cost of sales grew 8.5 per cent from US$ 3,520 million to US$ 3,819 million and gross profit from US$ 495 million to US$ 1,630 million. Rusal’s total assets and net debt as of June 30 stood at US$ 20,466...
ASI certifies Yunnan Yongshun Aluminium Co., Ltd. against Chain of Custody Standard Certification
Aluminium Stewardship Initiative has reportedly certified Yunnan Yongshun Aluminium Co., Ltd. against the ASI Chain of Custody Standard Certification for its smelting, casting and sawing activities for the production of aluminium alloy flat ingots. Yunnan Yongshun Aluminium Co., Ltd., a joint venture between ASI Members Yunnan YunLv Yongxin Aluminium Co., Ltd. of Yunnan Aluminium Group and Xiamen Xiashun Aluminium Foil Co., Ltd., bagged the ASI Performance Standard Certification earlier in January 2021. The annual production capacity at the facility is 150,000 tonnes of mid-to-high-end aluminium alloy flat ingot. The ASI CoC Standard sets out requirements for the creation of a Chain of Custody for material that is produced and processed through the value chain into diverse downstream...
Three-month LME aluminium closed higher at US$2577.50/t; SHFE price rose to US$3133/t
Three-month LME aluminium rose 1.40 per cent to close at US$ 2,577.50 per tonne in the overnight trading of last Friday, and is expected to trade between US$ 2,540-2,620 per tonne today. LME aluminium cash (bid) price and LME official settlement price inched up marginally by US$ 0.50 per tonne to stand at US$ 2,602.50 per tonne on Friday, August 13. But 3-months bid price and 3-months offer price decreased considerably from US$ 2,600 per tonne to US$ 2,592 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,554 per tonne, down by US$ 23.50 per tonne on August 12. LME aluminium opening stock decreased from 1333575 tonnes to 1323825 tonnes. Live Warrants stood at 834950 tonnes, while Cancelled Warrants totalled 488875 tonnes. LME aluminium 3-months Asian Reference Price...
Primary Aluminium Weekly Recap: LME aluminium price gains US$55/t to stand at US$2602/t; China’s aluminium production grows 1.86% in July
Right from the hike in LME aluminium benchmark price to new consumption restrictions on Chinese aluminium producers, primary aluminium market has spotted some of the important news this week. From US$ 2,547 per tonne on Monday, August 9, both LME aluminium cash (bid) price and LME official settlement price increased to US$ 2,602 per tonne on Thursday, August 12, reflecting a hike of US$ 55 per tonne. 3-months bid price and 3-months offer price grew from US$ 2,553 per tonne to US$ 2,600 per tonne, while Dec 22 bid price and Dec 22 offer price climbed from US$ 2,517.50 per tonne to US$ 2,577.50 per tonne. To know more: https://www.alcircle.com/news/lme-aluminium-price-gains-us24-t-to-stand-above-us2600-t-shfe-price-continues-to-decline-to-us3090-t-70088 A00 aluminium ingot price in China...
Hindalco’s aluminium ingot price sees another hike this week to reach at INR 224,500/t
Hindalco Industries Limited has continued to increase its aluminium ingot and aluminium product prices by INR 1,500 per tonne or 0.67 per cent with effect from Friday, August 13. Marking the second consecutive hike this week, Hindalco’s aluminium ingot price has come in at INR 224,500 per tonne compared to INR 223,000 per tonne on August 11. The company’s aluminium wire rod price and aluminium billet price have been increased from INR 234,100 per tonne to INR 235,600 per tonne and from INR 230,100 per tonne to INR 231,600 per tonne, respectively. Hindalco links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after August 10 built-up US$ 23 per tonne to reach at US$ 2,602 per tonne as of August 12. On a...
Aluminium billet inventories in China further grow by 14,400 tonnes this week due to decreased outbound quantity
According to the Shanghai Metals Market, aluminium billet inventories in China increased by 14,400 tonnes on Thursday, August 12, across the five major consumption areas, as was estimated in the previous week. SMM data found the inventories stood at 117,600 tonnes this week compared to 103,200 tonnes on August 5. The increase in inventories could be attributed to the shrink in outbound quantity of aluminium billet by 4,900 tonnes or 10.6 per cent to 41,200 tonnes, as downstream purchase was quiet amid the surging aluminium prices. The chart below indicates the current status of aluminium billet inventories across China in more details: In Foshan, aluminium billet inventories grew 7,500 tonnes this week to come in at 53,500 tonnes, followed by an increase of 3,080 tonnes in Wuxi to stand...
Vedanta Limited continues to grow aluminium ingot price by INR1500/t w.e.f. August 13
Vedanta Limited has extended growth of its aluminium ingot and aluminium product prices on Friday, August 13. The company’s aluminium ingot price has come in at INR 225,000-238,000 per tonne, up by INR 1,500 per tonne from INR 223,500-236,500 per tonne on August 11. Vedanta’s aluminium wire rod price has also seen an increase of INR 1,500 per tonne from INR 231,000-238,500 per tonne on August 11 to INR 232,500-240,000 per tonne on August 13. Aluminium billet price is hovering at INR 233,000 per tonne, gaining INR 1,500 per tonne from the previous day. Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after August 10 built-up US$ 23 per tonne to reach at US$ 2,602 per tonne as of August 12. On...
A00 aluminium ingot price in China grows by RMB30/t to close the week at RMB20,050/t: SMM
A00 aluminium ingot price in China has climbed by RMB 30 per tonne to close the week, ending on Friday, August 13, at RMB 20,050 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,030 per tonne and RMB 20,070 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne. Among all the major Chinese cities, Tianjin has seen the highest rise of RMB 60 per tonne to RMB 20,060 per tonne. In Hangzhou, primary aluminium ingot price has increased by RMB 25 per tonne to RMB 20,080 per tonne, while the price in Gongyi, Foshan, and Linyi has grown by RMB 20 per tonne to stand at RMB 19,930 per tonne, RMB 20,200 per tonne, and RMB 20,060 per tonne, respectively. In Shenyang and Wuxi, A00 aluminium ingot price is up by RMB 15...
LME aluminium price gains US$24/t to stand above US$2600/t; SHFE price continues to decline to US$3090/t
Three-month LME aluminium increased 0.21 per cent to end at US$ 2,580.50 per tonne on Thursday, August 12. LME aluminium cash (bid) price and LME official settlement price built-up US$ 24 per tonne to stand at US$ 2,602 per tonne on Thursday, August 12, following a dip of US$ 1 per tonne in the previous day. 3-months bid price and 3-months offer price increased from US$ 2,577.50 per tonne to US$ 2,600 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,577.50 per tonne, up by US$ 36 per tonne from August 11. LME aluminium opening stock decreased from 1340225 tonnes to 1333575 tonnes. Live Warrants stood at 836850 tonnes, while Cancelled Warrants totalled 496725 tonnes. LME aluminium 3-months Asian Reference Price settled at US$ 2,589.87 per tonne as of August 12. SHFE...
China’s aluminium wire and cable sector’s operating rate drops to 41.12% in July 2021; Likely to recover in August to 45%
Shanghai Metals Market found that aluminium wire and cable sector’s operating rate stood at 41.12 per cent in July 2021, reflecting a drop of 0.2 percentage point from June. But on a year-on-year calculation, it edged 0.4 percentage point higher. The month-on-month decrease in operating rate in July could be attributed to the high aluminium price and temperature. The SMM average monthly spot aluminium price in east China stood at RMB 19,023 per tonne, up by RMB 414 per tonne from June. Also, power consumption restrictions imposed by the State Grid on aluminium producers led to a decline in operating rate. Large companies reported higher production and growing news orders by leveraging on their financial strength, but smaller companies performed poorly due to losses arising from rising raw...
Primary aluminium inventories in China grow after five consecutive weeks of decline; Inventories standing at 739,000 tonnes
According to the Shanghai Metals Market, China’s social inventories of primary aluminium gained 7,000 tonnes over the week across eight major consumption areas, including SHFE warrants. Thus, as of Thursday, August 12, primary aluminium inventories in China have come in at 739,000 tonnes. China has witnessed the increased inventories this week after five consecutive weeks of downfall since July 8. Last Thursday, on August 5, China’s primary aluminium inventories stood at 732,000 tonnes, declining by 26,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have increased by 12,000 tonnes week-on-week to stand at 268,000 tonnes, while the inventories in Nanhai and...
US aluminium crude metals and alloys imports from UAE grow 6% M-o-M to 32,800 tonnes in May 2021; Imports during Jan-May decline 17%
According to the US Geological Survey data, the United States aluminium crude metals and alloys imports from United Arab Emirates (UAE) rose 6.15 per cent or 1,900 tonnes month-on-month to 32,800 tonnes in May 2021. In April, the US imports stood at 30,900 tonnes, down by 0.96 per cent from 31,200 tonnes in the previous month. On a year-on-year calculation, the United States aluminium crude metals and alloys imports from UAE edged 20.59 per cent higher than 27,200 tonnes. In the first five months of the year, the imports totalled 142,000 tonnes, which were, however, a decrease of 16.96 per cent from 171,000 tonnes a year ago. The United States total imports of aluminium crude metals and alloys in May 2021 also decreased month-on-month by 11,000 tonnes or 3.40 per cent. From 324,000 tonnes...
China's Tianshan Aluminium to acquire 49% of shares of Indonesian bauxite mining company
On Tuesday, August 10, Tianshan Aluminum Group Co.,Ltd. announced that it signed a letter of intent with an unnamed Indonesian mining holding company and its controller. According to the letter of intent signed, Tianshan will buy a minimum of 49 per cent of shares of the bauxite company through direct or indirect acquisitions. Tianshan expects this move will help in expanding its cooperation with the mining company in terms of bauxite supply and sales in the future. The Indonesian mining company has a mining area of about 30,000 hectares and owns a total of three bauxite mining certificates issued by Indonesia’s Ministry of Energy and Mineral Resources. Through this acquisition, Tianshan also aims at promoting its overseas business development and enhance core competitiveness, said the...
LME aluminium price inches down to US$2578/t; SHFE price slips by US$9/t to US$3103/t
Three-month LME aluminium dipped 0.04 per cent to end at US$ 2,585 per tonne on Wednesday, August 11. LME aluminium cash (bid) price and LME official settlement price dipped slightly by US$ 1 per tonne to stand at US$ 2,578 per tonne on Wednesday, August 11, following a hike of US$ 32 per tonne in the previous day. 3-months bid price and 3-months offer price dropped by US$ 7.50 per tonne to come in at US$ 2,577.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,541.50 per tonne, down by US$ 9.50 per tonne from August 10. LME aluminium opening stock grew from 1339100 tonnes to 1340225 tonnes. Live Warrants stood at 836850 tonnes, while Cancelled Warrants totalled 503375 tonnes. LME aluminium 3-months Asian Reference Price settled at US$ 2,583.72 per tonne as of...
Dudley’s Aluminium secures multimillion pound contact for Millwrights Place and Coopers Court
Cardiff-based aluminium fabricator Dudley’s Aluminium has reportedly bagged another multimillion pound project contract with Willmott Dixon to work on the Millwrights Place and Coopers Court residential scheme at Finzels Reach. Dudley’s has already started working on Halo, an office accommodation within the same development, worth £5.1 million. For the new project, the fabricator will install a range of Kawneer products including windows, capped and structural silicone glazed curtain walling, swing doors and patio doors, in addition to louvres, steel doors, automatic opening and fire rated windows, across the build at the former site of the Avon Fire and Rescue headquarters. Millwrights Place will feature 231 private rental apartments in a 14-storey building, while Coopers Court will...
AWB Aluminiumwerk Berlin GmbH joins ASI as new Production and Transformation member
Aluminium Stewardship Initiative has announced the joining of AWB Aluminiumwerk Berlin GmbH as ASI’s 185th Production and Transformation member. AWB Aluminiumwerk Berlin GmbH is an innovative, technologically modern extrusion plant for precision and aluminium profiles. With many years of experience in extrusion technology, the company manufactures aluminium profiles for the highest customer requirements from the construction industry. Besides manufacturing predefined precision, AWB Aluminiumwerk offers other services such as: Consulting of packaging suitable for the product Handling of the whole logistics Advice on metal securing based on our experience In 2018, the company successfully moved to new production facility. It has total 120 employees. On becoming a member of ASI, Florian...
Vedanta’s aluminium billet price recovers from the decline by INR3000/t on August 11
Vedanta Limited has increased its aluminium product prices on August 11, a day after it significantly reduced the prices on August 10. The latest hike has brought the company’s aluminium billet price to INR 231,500 per tonne, up by INR 3,000 per tonne from INR 228,500 per tonne. Vedanta’s aluminium wire rod price has come in at INR 231,000-238,500 per tonne, also an increase of INR 3,000 per tonne from INR 228,000-235,500 per tonne on August 10. The company’s aluminium ingot price has also been raised by INR 3,000 per tonne from INR 220,500-233,500 per tonne to INR 223,500-236,500 per tonne on August 11. Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which rose by US$ 32 per tonne on August 10 to...
A00 aluminium ingot price in China exceeds RMB20,000/t; Alumina spot price inches up by RMB2/t
On Wednesday, August 11, A00 aluminium ingot price in China has jumped by RMB 210 per tonne to stand above RMB 20,000 per tonne, following the two consecutive days of decline. According to the Shanghai Metals Market data, the price has come in at RMB 20,080 per tonne as of August 11, with average prices likely to range between RMB 20,060 per tonne and RMB 20,100 per tonne. The spot contract is expected to be traded at a premium price of RMB 70-30 per tonne. In Wuxi and Hangzhou, primary aluminium ingot price has surged by RMB 215 per tonne to RMB 20,080 per tonne and RMB 20,095 per tonne, respectively, followed by a hike of RMB 200 per tonne in Foshan to RMB 20,250 per tonne. In Gongyi and Linyi, A00 aluminium ingot price has increased by RMB 170 per tonne to RMB 19,970 per tonne and RMB...
