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.
China’s aluminium production grows 1.9% M-o-M and 5% Y-o-Y to 3.28 million tonnes in July 2021: SMM
In July 2021, China produced 3.28 million tonnes of aluminium, which stood 1.86 per cent higher month-on-month from 3.22 million tonnes and 5 per cent on year from 3.12 million tonnes. However, the average daily output edged lower on a month by 1 per cent to 106,000 tonnes in July. The output totalled 22.75 million tonnes from January to July, an increase of 7.65 per cent from 21.13 million tonnes during the same period last year. The dip in daily average output could be attributed to the power curtailment and flood in Henan that caused two local aluminium plants to reduce or suspend production. In early August, China’s operating aluminium capacity stood at 38.53 million tonnes a year of the existing capacity of 43.68 million tonnes per annum. According to SMM survey, aluminium liquid...
Guangxi Power Grid Corp imposes power consumption restrictions on aluminium producers; Likely to affect half a million tonnes of smelting capacity
On Saturday, August 7, Guangxi Power Grid Corp sent a notice directing aluminium smelters in Guangxi region to reduce average electricity loads by more than 30 per cent by August 15. This move comes as a part of the effort to cut electricity usage during peak times, said consultancies AZ China and MySteel. This new power consumption restriction imposed on aluminium producers by southern China’s Guangxi region could temporarily shut down about half a million tonnes of annual smelting capacity, pointed out consultancies. The curbs may also exacerbate the tight aluminium supply in China, the world’s biggest producer and consumer of the metal. AZ China said about 415,500 tonnes of annual aluminium smelting capacity could be affected across six Guangxi producers. As of Monday, 85,000 tonnes...
Vedanta’s aluminium wire rod price sees a sharp decline of INR5500/t on August 10
Vedanta Limited has sharply reduced its aluminium product prices with effect from Tuesday, August 10, in tandem with the plunge in LME aluminium benchmark price on August 9. Vedanta’s aluminium wire rod price has seen a cut of INR 5,500 per tonne or 2.30 per cent on Tuesday and standing at INR 228,000-235,500 per tonne, compared with INR 233,500-241,000 per tonne on August 7. The company has also decreased its aluminium billet price by INR 5,500 per tonne from INR 234,000 per tonne on August 7 to INR 228,500 per tonne on August 10. With the plunge today, Vedanta’s aluminium ingot price has come in at INR 220,500-233,500 per tonne, reflecting a downfall of 2.30 per cent or INR 5,500 per tonne from the previous day. As of August 7, Vedanta’s aluminium ingot price was at INR 226,000-239,000...
LME aluminium price closed US$71.50/t lower at US$2547/t; SHFE price decreased to US$3064/t
Three-month LME aluminium dropped 1.14 per cent to end at US$ 2,554 per tonne last night. LME aluminium cash (bid) price and LME official settlement price plunged by US$ 71.50 per tonne on Monday, August 9, to stand at US$ 2,547 per tonne, following an increase in the previous day from US$ 2,583.50 per tonne to US$ 2,618.50 per tonne. 3-months bid price and 3-months offer price decreased by US$ 68.50 per tonne to come in at US$ 2,553 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,517.50 per tonne, down by US$ 64 per tonne from the previous day. LME aluminium opening stock declined from 1353050 tonnes to 1345850 tonnes. Live Warrants stood at 826875 tonnes, while Cancelled Warrants totalled 518975 tonnes. LME aluminium 3-months Asian Reference Price settled at US$...
Hindalco’s aluminium ingot price builds-up INR3500/t after two back-to-back cuts
Hindalco Industries Limited has increased its aluminium ingot and aluminium product prices with effect from Saturday, August 7, in line with two consecutive hikes on August 5 & 6 from US$ 2,575.50 per tonne to US$ 2,618.50 per tonne. Hindalco’s aluminium ingot price has been raised by INR 3,500 per tonne to INR 225,500 per tonne, following two back-to-back cuts on August 4 and 5. With effect from August 7, Hindalco’s aluminium wire rod price has also seen an increase of INR 3,500 per tonne to INR 236,600 per tonne. On August 5, Hindalco was selling its aluminium wire rod at INR 233,100 per tonne. Hindalco’s aluminium billets price has come in at INR 232,600 per tonne compared to INR 229,100 per tonne on August 5. Hindalco links its aluminium ingot and aluminium product prices to the...
India’s aluminium scrap imports from US slip 2.31% M-o-M to29,600 tonnes in May’21; Total imports during Jan-May grow 27% on year
India’s aluminium scrap imports from the United States slipped in May 2021 to come close to the import volume of March. According to the US Census Bureau data, India imported 29,600 tonnes of aluminium scrap from the US in May, which reflected a dip of 2.31 per cent month-on-month from 30,300 tonnes. In April, however, the import volume was up by 2.02 per cent from 29,700 tonnes in March. On a year-on-year calculation, India’s aluminium scrap imports from the US in May 2021 stood 606.44 per cent higher than 4,190 tonnes. Total imports during January-May amounted to 141,000 tonnes, up by 27.03 per cent from 111,000 tonnes during the corresponding period of the last year. The United States total aluminium scrap exports in May 2021 came in at 170,000 tonnes, down by 2,000 tonnes or 1.16 per...
Alumina production in China grows 2.78% M-o-M to 6.29 million tonnes during July 2021; Daily output dips 0.34% to 196,000 tonnes
In July 2021, China’s alumina production came in at 6.29 million tonnes after increasing by 2.78 per cent month-on-month from 6.12 million tonnes, found the Shanghai Metals Market. According to SMM data, the output in July included 6.08 million tonnes of metallurgical grade alumina compared to 5.91 million tonnes in the previous month. The average daily output of metallurgical grade alumina in July was 196,000 tonnes, down by 0.34 per cent from 196,800 tonnes in June but up on a year by 6.71 per cent. SMM learned that the total production of metallurgical grade alumina during January-July amounted to 41.51 million tonnes, an increase of 8.28 per cent from the same period last year. The month-on-month decline in daily output during July 2021 could be attributed to the tight supply of coal...
Alumina spot price in China grows for the second day in a row by RMB11/t; A00 aluminium ingot price declines to RMB19890/t
The average alumina spot price in China has opened the week on Monday, August 9, with an increase of RMB 11 per tonne to RMB 2,603 per tonne. This marks the second consecutive day of hike, following a rise of RMB 8 per tonne from RMB 2,584 per tonne to RMB 2,592 per tonne. In Shanxi and Shandong, alumina spot price has grown by RMB 25 per tonne and RMB 20 per tonne to come in at RMB 2,635 per tonne and RMB 2,600 per tonne, respectively. Australian alumina FOB price has, however, remained restrained at RMB 300 per tonne. A00 aluminium ingot price, on the other hand, has decreased by RMB 20 per tonne to stand at RMB 19,890 per tonne on Monday, August 9. The average prices are expected to range between RMB 19,870 per tonne and RMB 19,910 per tonne, with spot contract likely to be traded at a...
NALCO’s aluminium ingot price sees a downfall of INR3400/t with effect from August 6
National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium product prices with effect from Friday, August 6, following a sharp hike in the previous week. NALCO’s aluminium ingot price is currently ranging between INR 221,850-225,350 per tonne, down by INR 3,400 per tonne from 225,250-228,750 on July 31. NALCO’s aluminium wire rod price has also seen a cut of INR 3,400 per tonne with effect from August 6 and has come in at INR 224,350-228,700 per tonne. On July 31, the price was at INR 227,750-232,100 per tonne. NALCO is now selling its aluminium billets at INR 225,300-227,950 per tonne in comparison with INR 227,750-232,100 per tonne on July 31. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the...
Vedanta Aluminium Business wins three Gold Awards at SNEMA 2020
Vedanta Aluminium Business has won three Gold Awards at the SEEM National Energy Management Awards (SNEMA) 2020 for excellence in energy management at its Aluminium Smelters I & II and 1215MW Captive Power Plant at Jharsuguda, Odisha. Vedanta’s 1215MW Captive Power Plant and 2400 MW Thermal Power Plant have also bagged awards at the Thermal Power Plant Operation & Maintenance Conference and Awards 2021 for overall operational excellence. Vedanta’s alumina refinery, aluminium smelters, and power plants are the forerunners in the realm of energy management, among Indian manufacturing sectors. Some of the few notable initiatives include: Vedanta emerged as India’s largest green power purchaser in Q1FY22, procuring 354 million units of solar and non-solar renewable energy for its aluminium...
Maan Aluminium reports above 200% Y-o-Y growth in net profit for 1QFY22
Maan Aluminium has presented the financial results of the first quarter of FY2022 ended on June 30, revealing a year-on-year increase of 222.98 per cent in net profit to INR 5.20 crore. In the June quarter of FY21, the company’s net profit stood at INR 1.61 crore. On a quarter-on-quarter basis, Maan Aluminium recorded a dip of 1.14 per cent in its Q1 net profit from INR 5.26 crore. Sales rose 141.74 per cent over the year to INR 120.70 crore in the quarter ended June 2021 as against INR 49.93 crore. On a quarter-on-quarter calculation, it declined 26.07 per cent from INR 163.27 crore. Maan Aluminium Limited is an India-based company. The company is engaged in the business of manufacturing of aluminium profiles and other related activities. For the full financial year 2020-21, net profit...
Ma’aden Aluminium bags ASI Performance and Chain of Custody Standard Certification for its integrated facilities
Aluminium Stewardship Initiative has reportedly certified Ma’aden Aluminium against the Performance and Chain of Custody Standard Certification for its vertically integrated aluminium facilities. The news came after ASI announced that it successfully certified the Middle East-based company for its bauxite mining at the Al Ba’itha mine in Qassim Province, alumina refining and smelting, aluminium remelting, and casting and rolling operations at Ras Al Khair Industrial City. The industrial facility also includes recycling operations for used beverage cans. Ma’aden’s smelter has an annual production capacity of 780,000 tonnes of aluminium, its rolling facility can produce 460,000 tonnes of can sheet, and end and tab stock for beverage cans and auto body sheet, and its remelting operations are...
LME aluminium price rose US$8/t to stand at US$2583.50/t; SHFE price gained US$26/t to US$3077/t
Three-month LME aluminium closed 0.94 per cent higher to stand at US$ 2,586.50 per tonne on Thursday, August 5. LME aluminium cash (bid) price and LME official settlement price rose by US$ 8 per tonne to stand at US$ 2,583.50 per tonne on Thursday, August 5. 3-months bid price and 3-months offer price grew from US$ 2,508.50 per tonne to US$ 2,589 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,563.50 per tonne, up by US$ 10.50 per tonne from the previous day. LME aluminium opening stock declined from 1363475 tonnes to 1355600 tonnes. Live Warrants stood at 830825 tonnes, while Cancelled Warrants stood at 524775 tonnes. LME aluminium 3-months Asian Reference Price settled at US$ 2,575.93 per tonne as of August 5. SHFE Aluminium Price Trend Benchmark aluminium price...
EV start-up Mean Metal Motors reveals India’s First Electric Supercar ‘AZANI’, built around skateboard aluminium chassis
Bengaluru-based Mean Metal Motors has introduced a brand new Azani model as India’s first-ever all-electric hypercar. Built around a skateboard aluminium spaceframe chassis, the all-new Azani model has a futuristic design and boasts performance figure. According to the automaker, the Azani can sprint from 0-97km/h in 2.1 seconds, thanks to its 1,000hp electric powertrain. The car features a two-door coupe with a closed grille, a sloping roofline, flared wheel arches, sleek headlights as well as taillights, and blacked-out multi-spoke alloy wheels. Mean Metal Motors is using modular components for the new model of Azani, aiming to set up micro-facilities to manufacture its product and use Artificial Intelligence at various levels to increase efficiency and reduce costs. The model has...
Primary aluminium inventories in China continue to fall 26,000 tonnes to stand at 732,000 tonnes this week
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall on Thursday, August 5, albeit slower than the previous week. SMM found the inventories fell 26,000 tonnes week-on-week across China’s eight major consumption areas, including SHFE warrants, to come in at 732,000 tonnes. Last week, on July 29, primary aluminium inventories stood at 758,000 tonnes, declining by 51,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi, primary aluminium inventories have seen the sharpest decline this week by 17,000 tonnes to 39,000 tonnes, while the inventories in Nanhai have decreased by 5,000 tonnes to come in at 195,000 tonnes as of August 5. In...
Vedanta continues to decrease aluminium ingot price by INR2000/t on Aug. 5 in line with further drop in LME aluminium price
Vedanta Limited has continued to decrease its aluminium ingot and aluminium product prices for the second straight day by INR 2,000 per tonne. With effect from Thursday, August 5, Vedanta’s aluminium ingot price has been reduced to INR 222,500-235,500 per tonne from INR 224,500-237,500 per tonne a day ago. Vedanta’s aluminium billet price has also seen a cut of INR 2,000 per tonne or 0.86 per cent from INR 232,500 per tonne on August 4 to INR 230,500 per tonne as of August 5. The company’s aluminium wire rod price has come in at 230,000-237,500 per tonne with effect from August 5, after being cut by INR 2,000 per tonne from INR 232,000-239,500 per tonne. Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal...
Century Aluminum reports a 19% rise in Net Sales to $528 million in 2Q2021; Shipments decline by over 4,500 tonnes
Century Aluminum Industry has reported net sales of $528 million for the second quarter of 2021 ended on June 30, an increase of 19 per cent from $444 million driven by higher aluminum prices and increased regional premiums. On Wednesday, August 4, the company unveiled its Q2 financial and operational results, wherein it also reported a net loss of $35.1 million compared to $140 million in Q1. That was an improvement of $104.9 million sequentially. Century stated its adjusted net loss at $27.3 million for 2Q2021, improved by $25.2 million sequentially. Adjusted EBITDA was $34.4 million, an increase of $54.1 million from the prior quarter primarily driven by higher prices of primary aluminum and increased regional premiums. Shipments in Q2 2021, however, decreased from 195,697 tonnes in Q1...
China’s A00 aluminium ingot price grows slightly by RMB10/t after three days of decline; Caustic soda price shrinks to RMB1005/t
After decreasing for the past three consecutive days from RMB 19,850 per tonne to RMB 19,730 per tonne, A00 aluminium ingot price in China has inched up by RMB 10 per tonne on Thursday, August 5. According to SMM data, the primary aluminium ingot price is standing at RMB 19,740 per tonne, with average prices estimated to range between RMB 19,720 per tonne and RMB 19,760 per tonne and spot contract is likely to be traded at a premium price of RMB 60-20 per tonne. In Foshan and Linyi, A00 aluminium ingot price has increased by RMB 50 per tonne to settle at RMB 19,890 per tonne and RMB 19,780 per tonne, while the price in Chongqing has grown by RMB 35 per tonne to stand at RMB 19,770 per tonne. In Gongyi, Wuxi, Hangzhou and Tianjin, primary aluminium price has gained RMB 20 per tonne, and...
