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.
World primary aluminium production in 2Q2021 increases 1% Q-o-Q and 5% Y-o-Y to 16.842 million tonnes: IAI
World primary aluminium production in June 2021 stood at 5.549 million tonnes, bringing the total output during the second quarter of the year to 16.842 million tonnes, found the International Aluminium Institute. Production in June reflected a month-on-month decrease of 3.50 per cent from 5.750 million tonnes, while the output in Q2 edged a quarter-on-quarter increase of 1.12 per cent from 16.655 million tonnes. On a year-on-year calculation, world primary aluminium production in June stood up by 4.54 per cent from 5.308 million tonnes, while the production in Q2 grew 5.13 per cent from 16.020 million tonnes. In China, primary aluminium production in June came in at 3.245 million tonnes, down by 3.13 per cent from 3.350 million tonnes in May but up 7.17 per cent from 3.028 million tonnes...
LME aluminium price grows marginally to US$2424.50/t; SHFE price edges 0.72% higher at US$2952/t
Three-month LME aluminium rose 1.16 per cent to close at US$ 2,448 per tonne on Tuesday. LME aluminium cash (bid) price and LME official settlement price inched down marginally by US$ 0.50 per tonne to stand at US$ 2,424.50 per tonne on Tuesday, July 20. 3-months bid price and 3-months offer price decreased by US$ 3.50 per tonne to come in at US$ 2,442.50 per tonne. However, Dec 22 bid price and Dec 22 offer price gained US$ 2.50 per tonne to settle at US$ 2,432.50 per tonne. LME aluminium opening stock continued to decrease from 1449325 tonnes to 1440350 tonnes. Live Warrants totalled 897125 tonnes, while Cancelled Warrants closed at 543225 tonnes. LME aluminium 3-months Asian Reference Price hovered around US$ 2,434.69 per tonne as of July 20. SHFE Aluminium Price Trend Benchmark...
Century Aluminium extends power supply contract by 3 years to 182 MW for its Iceland smelter
Century Aluminum Company’s wholly-owned subsidiary, Norðurál Grundartangi ehf, has reportedly reached an agreement with Landsvirkjun, the National Power Company in Iceland, to extend its 161MW power contract for the next three years till 2026. The extension of contract will increase the power supply to 182 MW over time, providing the necessary flexibility to support the most recent capacity creep requirements and future growth opportunities for value-added products at the plant. Jesse Gary, Century’s President and Chief Executive Officer, said, “We are pleased to reach this agreement with Landsvirkjun. I would like to personally thank Hörður Arnarson, Chief Executive Officer of Landsvirkjun, and his team for their hard work on reaching this agreement and for Landsvirkjun’s continued...
AlCircle Expo 2021 Performance Card: Over 1000 attendees graced the event from 92 different countries
AlCircle is delighted to have hosted the “AlCircle Expo 2021” successfully on June 29 & 30 and is thankful for receiving enthusiastic responses from exhibitors, sponsors and attendees. It was a virtual event designed to bring aluminium industry leaders from the entire value chain under one roof. When travel is still a constraint, offering a platform suitable to expand business networks, learning new skills, and sharing success stories was our objective. As we were also committed to offering a better experience this year, the event was driven by more advanced technology and digital tools, besides video calls, exchange of digital business cards, brochures, and product demos. The Expo this year was graced by a total of 1,040 attendees from 92 different countries to interact and network with...
Hindalco’s aluminium ingot price sees a sharp fall of INR6000/t to INR211750/t w.e.f. July 20
Hindalco Industries Limited has sharply reduced its aluminium ingot and aluminium products prices with effect from Tuesday, July 20, following the two consecutive hikes last week. Hindalco’s aluminium ingot price has witnessed a cut of INR 6,000 per tonne on July 20 to come in at INR 211,750 per tonne. On July 15, the price stood at INR 217,750 per tonne, gaining INR 2,500 per tonne from INR 215,250 per tonne on July 14. Today’s significant price cut has brought the company’s aluminium wire rod and billets prices at INR 222,850 per tonne and INR 218,850 per tonne, respectively. Both the prices are down by INR 6,000 per tonne from INR 228,850 per tonne and INR 224,850 per tonne on July 15. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of of...
China's A00 aluminium ingot price continues to decline to RMB19040/t; Aluminium alloy(A356) price plunges by RMB300/t
A00 aluminium ingot price in China has continued to decrease for the second straight day to come close to RMB 19,000 per tonne. According to the Shanghai Metals Market, the price has plunged by RMB 290 per tonne to settle at RMB 19,040 per tonne on Tuesday, July 20.The average prices are expected to range between RMB 19,020 per tonne and RMB 19,060 per tonne, with spot contract to be traded at a premium price of RMB 40-0 per tonne. Among the major Chinese cities, Wuxi has also seen a downfall of RMB 290 per tonne to stand at RMB 19,040 per tonne, while the price in Hangzhou has decreased by RMB 285 per tonne to RMB 19,050 per tonne. In Foshan and Linyi, A00 aluminium ingot price has dwindled by RMB 270 per tonne to come in at RMB 19,130 per tonne and RMB 19,050 per tonne, followed by the...
ASI certifies REAL ALLOY against Performance Standard certification for recycling of aluminium scrap
On Monday, July 19, Aluminium Stewardship Initiative has successfully certified REAL ALLOY against Performance Standard certification for recycling of aluminium scrap and production of recycled aluminium alloys at Deizisau, Germany plant, and at European Headquarters in Grevenbroich, Germany. The plant produces alloys to specification by converting aluminium scrap into molten metal delivered directly to customers’ foundries. 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...
China to continue release aluminium from state reserves in batches: Source
The National Development and Reform Commission (NDRC) said on Monday, July 19, that China would continue to release aluminium from state reserves to lower the metal price. In a rare move aimed at cooling a rally in metal prices that has moved up raw materials costs for Chinese downstream aluminium manufacturer, the country sold 50,000 tonnes of primary aluminium in only a day of two allotted for the auction. More than 200 non-ferrous fabricators attended the bidding, with sales prices about 3-9 per cent lower than market price that day, the NDRC spokesperson Yuan Da said at a press briefing. "The release initially achieved the expected goal ... targeted placement granted downstream fabricators an opportunity to replenish stocks and lower some companies' raw material costs," Mr Yuan said....
NALCO increases aluminium ingot price by INR1200/t to INR215250- 218750/t w.e.f. July 17
National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium products prices by INR 1,200 per tonne or 0.55 per cent with effect from Saturday, July 17. That brought the aluminium ingot price to INR 215250- 218750 per tonne versus INR 214,050-217,550 per tonne on Wednesday, July 14. NALCO’s aluminium wire rod price came in at INR 218750- 223100 per tonne on July 17, also up by INR 1,200 per tonne from INR 217,550-221,900 per tonne. The company’s aluminium billets price also saw an increase of INR 1,200 per tonne from INR 217,500-220,150 per tonne to INR 218,700- 221,350 per tonne. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which...
LME aluminium price dips by US$2/t to close at US$2493/t; SHFE price declines below US$3000/t
Three-month LME aluminium closed Friday trading at 0.88 per cent lower. LME aluminium cash (bid) price and LME official settlement price inched down by US$ 2 per tonne to stand at US$ 2,493 per tonne on Friday, July 16. Meanwhile, 3-months bid price and 3-months offer price remained restrained at US$ 2,510.50 per tonne. Dec 22 bid price and Dec 22 offer price, on the other hand, gained US$ 0.50 per tonne to come in at US$ 2,494.50 per tonne. LME aluminium opening stock decreased from 1465775 tonnes to 1457800 tonnes. Live Warrants totalled 897275 tonnes, while Cancelled Warrants closed at 575525 tonnes. LME aluminium 3-months Asian Reference Price hovered around US$ 2,517.38 per tonne as of July 16. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE declined by US$ 26 per tonne...
LME aluminium price rose US$44/t this week to close at US$2493/t; SHFE price grew to US$3015/t
LME aluminium cash (bid) price and LME official settle price increased this week during July 12-16 by US$ 44 per tonne or 1.80 per cent despite two consecutive declines at the end of the week. The prices opened the week on Monday, July 12, at US$ 2,449 per tonne, decreasing by US$ 21 per tonne from the previous day. On Tuesday, July 13, both LME aluminium cash (bid) price and LME official settle price rebounded to US$ 2,478 per tonne and further rose to US$ 2,509 per tonne on Wednesday, July 14. On Thursday, however, the prices dropped to US$ 2,495 per tonne and further inched down to US$ 2,493 per tonne on Friday, July 16. On the other hand, 3-months bid price and 3-months offer price reduced this week from US$ 2,468.50 per tonne on July 12 to US$ 2,510.50 per tonne on July 16. On...
Alcoa expects double-digit growth in sales on improved demand for aluminium across all end-use sectors
Alcoa Corporation expects double-digit growth in the sales of its value-added products this year based on the continued economic recovery and improved demand for aluminium across all end markets. The company forecasts an improvement in shipments across all segments. Bauxite is estimated to improve by 0.1 million dry metric tonnes to 50-51 million dry metric tonnes; alumina to increase to 14.1-14.2 million metric tonnes; and aluminium by 0.2 million metric tonnes to 2.9-3 million metric tonnes. Alcoa anticipates a strong Q3 on the basis of continuing forecasts for economic recovery and solid global demand across end-use sectors. It expects third quarter tax expense to exceed $100 million, which may vary with market conditions and jurisdictional profitability. As the COVID-19 pandemic is...
Rusal appoints ex-Deputy Prime Minister of Komi Republic as the Director of Sustainable Development
Rusal, a leading global aluminium producer, has announced the appointment of Irina Bakhtina as the Director of Sustainable Development. She will focus on the further implementation of Rusal’s sustainable development strategy across all divisions of the company and also work on the Group’s wider climate strategy aimed at achieving carbon neutrality by 2050. Earlier, Irina Bakhtina served as Deputy Prime Minister of the Komi Republic. She was responsible for the socio-economic development and the formation of investment and innovation policy in the region, including the Arctic zone of Russia. She also worked for the implementation of a unified state policy in the republic in the field of industrial and transport development, as well as environmental protection and safety. Irina Bakhtina is...
Alcoa reports highest profitability since inception with $309 million net income in 2Q2021
On Friday, July 16, Alcoa Corporation reported the highest profitability since inception in 2016 with record quarterly net income and earnings per share, attributing to strong aluminium pricing with improved customer demand, stable operational performance, and additional cash generation through strategic action. The company’s Q2 2021 net income, ended on June 30, stood at US$ 309 million, up 76.57 per cent quarter-on-quarter from US$ 175 million and 56.85 per cent year-on-year from US$ 197 million. Adjusted EBITDA excluding special items increased 18.62 per cent sequentially to US$618 million from US$ 521 million. On a year-on-year calculation, it stood up by 234 per cent from US$ 185 million. Earnings per share grew quarter-on-quarter from US$ 0.79 to US$ 1.49. Revenue edged 31.89 per...
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China’s aluminium alloy (A356) price hit RMB20,000/t mark on July 16; A00 aluminium ingot price grows to RMB19,410/t
According to the Shanghai Metals Market, aluminium alloys prices have closed the week on Friday, July 16, on a positive note across China. Aluminium alloy (A356) price has grown by RMB 150 per tonne to touch the mark of RMB 20,000 per tonne. The average prices are expected to range between RMB 19,950 per tonne and RMB 20,050 per tonne. Aluminium alloys (ADC12) price and aluminium alloy (A380) price have surged by RMB 200 per tonne to stand at RMB 18,700 per tonne and 19,700 per tonne, respectively. Their average prices are likely to range between RMB 18,600-18,800 per tonne and RMB 19,600-19,800 per tonne, respectively. A00 aluminium ingot price has also extended its hike by RMB 130 per tonne to close the week at RMB 19,410 per tonne on July 16. The average prices are estimated to range...
Xavier Institute of Management, Bhubaneswar blows minds by demonstrating innovative plans to reuse aluminium cans
In the Sustainable Circular Challenge organised by Ball Beverage Packaging India, a team of six students from Xavier Institute of Management, Bhubaneswar (XIMB) bagged the runners-up trophy by demonstrating effective ways to reuse aluminium cans. The Thinkers, as they call themselves, has devised an innovative plan of changing the design of the cans to have a reattachable lid to be able to reuse the cans for a couple of more times, considering sustainability can come at a cost in the country like India and packaging can diminish profits. Bandhan Pramanik from the team of six explained, "In a country like India, sustainability can come at a cost and since packaging can actually diminish profits, we planned to use the existing infrastructure to help them.” Installing beverage dispensers in...
China’s primary aluminium inventories continue to fall by 26,000 tonnes this week: SMM
According to the Shanghai Metals Market, China’s primary aluminium inventories continue to fall this week by 26,000 tonnes across eight major consumption areas, including SHFE warrants. Therefore, as of Thursday, July 15, China’s primary aluminium inventories have come in at 832,000 tonnes compared to 858,000 tonnes on July 8. The chart below indicates the current status of primary aluminium inventories across China in more detail: In Wuxi, primary aluminium inventories have declined the highest by 13,000 tonnes to stand at 293,000 tonnes, followed by the decrease of 11,000 tonnes in Nanhai to come in at 224,000 tonnes, learned SMM. In Shanghai, Hangzhou, and Chongqing, inventories have dropped by 1,000 tonnes to settle at 86,000 tonnes, 90,000 tonnes, and 1,000 tonnes, respectively....
China’s primary aluminium output hit six-year highs at 19.64 million tonnes in 1H2021: NBS
According to the data released by the National Bureau of Statistics (NBS), China’s primary aluminium output hit multi-year highs at 19.64 million tonnes in the first half of 2021. That was up by 10.1 per cent from a year ago, as smelters were encouraged by aluminium prices well above break-even levels. According to NBS records, China’s primary aluminium production increased the highest in H1 2021 since at least 2015. However, the production volume in June fell for a second straight month due to power limitation in the smelting hub of Yunnan, showed official data on Thursday, July 15. Smelters in Yunnan were ordered to reduce energy consumption in late May after severe drought hampered electricity generation. The curbs remained in place for much of June, and analysts say it could take...
