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.
FYI Resources and Alcoa extend agreement period of potential HPA JV for another month
According to a recent report, FYI Resources (FYI) and Alcoa Australia have extended their exclusive agreement period for possible high purity alumina (HPA) joint venture. The companies started correspondence with each other over the potential partnership in May. Within three months’ time, due diligence has been completed and substantial progress has been made with negotiations on the key terms and structure of the possible joint venture. FYI sees this JV highly potential to be turned into a material global HPA business in the high-tech energy materials sector. FYI and Alcoa have mutually decided to extend the agreement for another month as they continue to assess broader development and future growth options for the project. Both the companies believe the short extension is essential to...
Vedanta reduces its aluminium wire rod price by 1% to INR232,000-239,500/t on August 4
Vedanta Limited has decreased its aluminium ingot and aluminium product prices with effect from Wednesday, August 4, in line with the fall in the LME aluminium benchmark price on August 3. Vedanta is currently selling its aluminium wire rod at INR 232,000-239,500 per tonne, down by INR 2,750 per tonne or 1.14 per cent from INR 234,750- 242,250 per tonne on July 31. Vedanta is also selling its aluminium billets at INR 2,750 per tonne lower than the previous day. Thus, the price is currently at INR 232,500 per tonne versus INR 235,250 per tonne last week. The company’s aluminium ingot price has also seen a cut of INR 2,750 per tonne on August 4 from INR 227,250-240,250 per tonne on July 31 to INR 224,500-237,500 per tonne. Vedanta limited links its aluminium ingot and aluminium product...
NALCO’s aluminium ingot price soars by over INR10,000/t w.e.f. July 31; Present selling price is at INR225,250-228,750/t
National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot price by INR 10,100 per tonne or 4.7 per cent with effect from Saturday, July 31. This soar in price has brought the company’s aluminium ingot price to INR 225,250-228,750 per tonne compared to INR 215,150- 218,650 per tonne on July 28. NALCO’s aluminium product prices have also seen a surge of INR 10,100 per tonne with effect from July 31. The company is now selling its aluminium wire rod at INR 227,750-232,100 per tonne in comparison with INR 217,650- 222,000 per tonne on the previous day. The present selling price of NALCO’s aluminium billets is INR 228,700- 231,350 per tonne versus INR 218,600- 221,250 per tonne on July 28. NALCO, like any other Indian aluminium producer, links its aluminium ingot and...
LME aluminium price closes lower at US$2595.50/t after four days of hike in a row; SHFE price drops by US$10/t
Three-month LME aluminium edged down 0.94 per cent to close at US$ 2,588.50 per tonne on Tuesday, with open interest losing 12,000 lots to 670,000 lots. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 39.50 per tonne to stand at US$ 2,595.50 per tonne on Tuesday, August 3, following the past four consecutive days of rise. 3-months bid price and 3-months offer price declined from US$ 2,628.50 per tonne to US$ 2,599.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,566 per tonne, down by US$ 20 per tonne from the previous day. LME aluminium opening stock continued to decrease from 1378575 tonnes to 1371150 tonnes. Live Warrants stood at 831825 tonnes, while Cancelled Warrants came in at 539325 tonnes. LME aluminium 3-months Asian...
Sanyuan Aluminium Co., Ltd. joins ASI as a new Production & Transformation member
Aluminium Stewardship Initiative has welcomed Sanyuan Aluminium Co., Ltd. as a new Production & Transformation member, bringing the total number of ASI Members to 183. Established in 2007 in Zhuhai, Sanyuan Aluminium Co., Ltd. has two plants in Shandong province: Shandong Longkou Sanyuan Aluminium Co., Ltd. and Zouping New Sanyuan Aluminium Co., Ltd. The company mainly produces and supplies aluminium tab stock and end stock for making easy open ends of beverage and food metal cans. In all, Sanyuan Aluminium has four coil coating lines, two slitting lines, four coating lines, three printing lines and two cutting lines, with an annual production capacity of around 100,000 tonnes. The primary overseas customers include Crown Group and Ball Group, while domestic customers are ORG Group,...
US aluminium plates, sheets and bars imports from Oman fall 40% M-o-M in April 2021
According to the US Census Bureau data, the United States imported 6,220 tonnes of aluminium plates, sheets and bars from Oman in April 2021. That was a decrease of 4,220 tonnes or 40.42 per cent month-on-month, following a hike in March from 5,780 tonnes in February to 10,400 tonnes. On a year-on-year calculation, the United States aluminium plates, sheets and bars imports from Oman in April 2021, however, stood almost flat compared to 6,500 tonnes. In the first four months of 2021, the United Sates aluminium flat rolled product imports from Oman totalled 26,600 tonnes, up 5,800 tonnes or 27.88 per cent from 20,800 tonnes during the same period last year. The United States total imports of aluminium plates, sheets and bars amounted to 109,000 tonnes in April 2021, down by 9.92 per cent...
Australia and Guinea to promote global bauxite production growth in 2021, Fitch estimates
Fitch Solutions has forecast in its recent industry report that new projects coming online in Guinea, Indonesia, and Australia and ramp-up in Indian and Indonesian output will drive the global bauxite production growth this year after the COVID-19 pandemic in 2020. The American credit rating agency has estimated that new projects in pipeline will underpin the bauxite production growth in Australia, which holds 12 of the 32 new bauxite projects in Fitch’s Key Mines Projects Database, more than any other country. Rio Tinto’s production capacity expansion at the Amrun project will boost the country’s bauxite output over the coming years. The Amrun project achieved its first production in December 2018 and increased operations to the full production rate of 22.8 million tonnes per annum in...
China’s A00 aluminium ingot price drops by RMB30/t for the second straight day; Prebaked anode price grows to RMB4565/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has further decreased by RMB 30 per tonne on Tuesday, August 3, to stand below RMB 19,800 per tonne. Data shows the price has come in at RMB 19,790 per tonne, with average prices likely to range between RMB 19,770 per tonne and RMB 19,810 per tonne. The spot contract is estimated to be traded at a premium price of RMB 60-20 per tonne. The decline in primary aluminium ingot price has touched upon all the major Chinese cities barring Gongyi, where the price has remained restrained at RMB 19,700 per tonne. Wuxi has seen the sharpest fall of RMB 60 per tonne to come in at RMB 19,770 per tonne, followed by the decline of RMB 55 per tonne in Hangzhou to RMB 19,780 per tonne. In Foshan, Shenyang, Tianjin and Linyi, A00...
Hindalco’s aluminium ingot price sees a sharp hike of INR5750/t with effect from July 31
Hindalco Industries Limited significantly increased its aluminium ingot and aluminium product prices on Saturday, July 31, which marked the fourth consecutive time of hike. The company’s aluminium ingot price came in at INR 226,500 per tonne, up by INR 5,750 per tonne from INR 220,750 per tonne on July 30. Hindalco’s aluminium wire rod price stood at INR 237,600 per tonne as of July 31, which was also up by INR 5,750 per tonne from INR 229,100 per tonne on July 30. The company’s aluminium billets price was at INR 233,600 per tonne, in comparison with INR 227,850 on the previous day. Hindalco links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which jumped by US$67.50 per tonne on July 30 to stand at US$ 2,624 per...
Rusal presents first ever aluminium alloy lighting poles made in Russia
RUSAL, a leading global aluminium producer, has unveiled the first consignment of lighting poles made of aluminium alloys to the domestic market, in partnership with the Krasnoyarsk Metallurgical Plant (KraMZ) and Alluminate Company. These are the first aluminium lighting poles produced in Russia. The poles are made of anodized extrusions produced from Rusal’s low-carbon aluminium ALLOW. Owing to aluminium, the poles are resistant to corrosion, precipitation and damage, allowing them to be used in coastal regions and urban environments. Earlier this month, KraMZ supplied its first consignment of 24 lighting poles to a five-star hotel located in Vladivostok. The poles came with all the necessary technological openings, hatches, and embedded parts. They were also equipped with smart...
ASI welcomes China Hongqiao Group Company Limited as new Production & Transformation member
Aluminium Stewardship Initiative has announced the joining of China Hongqiao Group Company Limited as ASI’s 181 st new Production & Transformation member. China Hongqiao Group Company Limited, developed into the world’s largest aluminium producer in 2015, covers the entire aluminium industry value chain. The company is specialised in thermoelectric, mining, and producing aluminium products. Its diverse product portfolio includes alumina, liquid aluminium alloy, aluminium alloy ingots, rolled and cast aluminium alloy products, aluminium busbar, high precision aluminium plates with foils and new materials. Chen Lie, Director of Industry Research and Investment, said: “As a Chinese enterprise eager to explore global market and cooperation with international community, China Hongqiao is...
Alba achieves 665% higher profit YoY with highest-ever production of 773,887 tonnes during 2Q2021
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter outside China, has reported a year-on-year increase of 665 per cent in Profit to BD92.6 million (US$246.2 million) for the second quarter of 2021, in comparison with a Loss of BD16.4 million (US$43.6 million) during the same period last year. The company also reported a Total Comprehensive Income of BD90.6 million (US$241.1 million) for 2Q2021 versus a Total Comprehensive Loss of BD18.2 million (US$48.4 million) in 2Q2020. For the first half of the year, Alba has reported a Profit of BD144.8 million (US$385 million), up by 1,461 per cent Y-o-Y compared to a Loss of BD10.6 million (US$28.3 million) for the same period in 2020. The revenue generation in H1 2021 was BD672.7 million (US$1,789 million) versus BD520 million...
LME aluminium price soared US$67.50/t to close at US$2624/t; SHFE price inched down US$4/t
Three-month LME aluminium inched up 0.04 per cent to end at US$ 2,597.50 per tonne on Friday, with open interest increasing 5,575 lots to 676,000 lots, and is expected to trade between US$ 2,570-2,620 per tonne today. LME aluminium cash (bid) price and LME official settlement price soared by US$ 67.50 per tonne to stand at US$ 2,624 per tonne on Friday, July 30. 3-months bid price and 3-months offer price increased from US$ 2,545.50 per tonne to US$ 2,619 per tonne. Dec 22 bid price and Dec 22 offer price climbed by USS$ 60.50 per tonne to US$ 2,571.50 per tonne. LME aluminium opening stock decreased from 1395225 tonnes1387800 tonnes. Live Warrants still remained restrained at 831825 tonnes, while Cancelled Warrants totalled 555975 tonnes. LME aluminium 3-months Asian Reference Price...
Weekly Aluminium Downstream Recap: Constellium reports 31% growth in Q2 shipments to 406,000 tonnes; Vedanta’s aluminium wire rod price mounts to INR229,000-236,500/t
Global aluminium downstream market offered us a myriad of news this week right from some of the eminent companies’ financial reports to investment update. To start with, Kaiser Aluminum Corporation reported net sales of $741 million for the second quarter 2021 compared to $276 million in the prior year period, reflecting a 184% increase in shipments and a 5% decrease in average selling price per pound. Adjusted EBITDA stood at $59 million, up $24 million year-on-year. The company’s value added revenue increased by 82 per cent to $318 million from $175 million. To know more: https://www.alcircle.com/news/kaiser-aluminums-adjusted-ebitda-up-by-24-million-in-the-second-quarter-of-2021-68924 Constellium published in its second quarter report that shipments stood at 406 thousand tonnes, an...
NALCO aluminium ingot price gains INR3900/t to stand at INR215,150- 218,650/t this week
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium product prices with effect from Wednesday, July 28, following a cut on July 23. The hike has brought in the aluminium ingot price at INR 215,150- 218,650 per tonne, up by INR 3,900 per tonne or 1.85 per cent from INR 211,250-214,750 per tonne on July 23. NALCO’s aluminium wire rod price has also seen a rise of INR 3,900 per tonne with effect from July 28 from INR 213,750-218,100 per tonne to INR 217,650- 222,000 per tonne. NALCO's aluminium billets price has come in at INR 218,600- 221,250 per tonne, in comparison with INR 214,700-217,350 in the previous week. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of...
LME aluminium price surged by US$124.50/t this week to settle at US$2624/t; SHFE price grew 1.72% to US$3077/t
LME aluminium cash (bid) price and LME official settlement price trended up this week by US$ 124.50 per tonne, with one intermittent drop. Starting the week at US$ 7.50 per tonne higher at US$ 2,499.50 per tonne on Monday, July 26, both LME aluminium cash (bid) price and LME official settlement price inched down to US$ 2,497.50 per tonne on July 27. On Wednesday, July 28, the prices exceeded US$ 2,500 per tonne to stand at US$ 2,516 per tonne and further grew on July 29 to US$ 2,556.50 per tonne. To close the week on Friday, July 30, the prices gained US$ 67.50 per tonne to US$ 2,624 per tonne. 3-months bid price and 3-months offer price jumped by US$ 210.50 per tonne through the week. The prices stood at US$ 2,408.50 per tonne on July 26, which increased sharply by US$ 83.50 per tonne on...
Weekly Alumina Recap: World alumina production grows 6% to 69.903MT in 1H2021; Aughinish Alumina secures EU funding to reduce carbon footprint
This week, during July 26-30, the world alumina market has encountered some of the major updates; for instance, the International Aluminium Institute reports that the world alumina production in 2Q2021 amounted to 35.625 million tonnes, reflecting a hike of 3.93 per cent from 34.278 million tonnes in Q1 2021. However, the output in June 2021 stood 4.26 per cent lower month-on-month at 11.695 million tonnes. In H1 2021, world alumina production totalled 69.903 million tonnes, up 6.20 per cent from 65.819 million tonnes a year ago. To know more: https://www.alcircle.com/news/world-alumina-production-reflects-a-q-o-q-hike-of-4-to-35-625mt-in-2q2021-output-in-june-drops-4-m-o-m-68923 In Africa & Asia (ex-China), alumina production during June 2021 stood at 1.063 million tonnes, reflecting a...
Vedanta continues to increase its aluminium product prices by INR3000/t in line with LME aluminium price rally
Vedanta Limited has continued to expand its aluminium ingot and aluminium product prices in line with the steady growth in the LME aluminium benchmark price. With effect from Friday, July 30, Vedanta's aluminium wire rod price has come in at INR 229,000-236,500 per tonne, up by INR 3,000 per tonne from INR 226,000-233,500 per tonne on July 29. Vedanta’s aluminium billet price has also witnessed a hike of INR 3,000 per tonne from INR 226,500 per tonne on July 29 to INR 229,500 per tonne on July 30. As of today, Vedanta is selling its aluminium ingot at INR 221,500-234,500 per tonne compared to INR 218,500-231,500 per tonne on 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...
