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.
NALCO reduces its aluminium ingot price by over 1.5% to INR214,050-217,550/t w.e.f. July 14
National Aluminium Company Limited (NALCO) has decreased its aluminium ingot and aluminium products prices, following a hike last week, June 7. With effect from Wednesday, July 14, NALCO’s aluminium ingot price has come in at INR 214,050-217,550 per tonne, down by INR 3,700 per tonne or 1.7 per cent from INR 217,750-221,250 per tonne on July 7. NALCO’s aluminium wire rod price has also seen a cut of INR 3,700 per tonne to INR 217,550-221,900 per tonne, with effect from July 14. Since July 7, the price hovered around 221,250- 225,600, gaining INR 4,900 per tonne. NALCO’s aluminium billets price is at present ranging between INR 217,500-220,150 per tonne, compared to INR 221,200-223,850 per tonne last week. NALCO, like any other Indian aluminium producer, links its aluminium ingot and...
LME aluminium price closed 1.25% higher to reach above US$2500/t; SHFE price stood at US$2987/t
Three-month LME aluminium fell 0.36 per cent to close at US$ 2,517 per tonne on Wednesday. It is expected that the contract will trade between US$ 2,480-2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price grew further by US$ 31 per tonne or 1.25 per cent to stand at US$ 2,509 per tonne on Wednesday, July 14. 3-months bid price and 3-months offer price increased by US$ 34 per tonne from US$ 2,492.50 per tonne to US$ 2,526.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,506.50 per tonne against US$ 2,476 per tonne. LME aluminium opening stock reduced from 1480150 tonnes to 1472800 tonnes. Live Warrants totalled 897275 tonnes, while Cancelled Warrants closed at 575525 tonnes. Meanwhile, LME aluminium 3-months Asian Reference Price...
Construction to start on Heesen’s 57-metre, all-aluminium superyacht project ‘Akira’ this year
According to a report on Wednesday, July 14, construction on Heesen’s 57-metre, all-aluminium superyacht project Akira is due to begin this year. The news came after the yard announced the yacht, which was first revealed at the 2019 Monaco Yacht Show, would begin construction at Heesen’s Oss shipyard in the autumn. “We see great potential for this new model," said Arthur Brouwer, Heesen's chief executive. “Akira is the only 57-metre, all-aluminium fast motor yacht with a Northern European pedigree available for delivery in spring 2024." This four-deck yacht is the first model in Heesen’s 5700 Aluminium class. Its exterior design is penned by Frank Laupman’s Omega Architects and interior by Harrison Eidsgaard. Built from an aluminium hull, the exterior features a “shapely silhouette” with...
Vedanta reports a 17% Y-o-Y hike in aluminium production to 549,000 tonnes in 1QFY22
On Wednesday, July 14, Vedanta reported that its aluminium production totalled 549,000 tonnes in the first quarter of FY2022 ended on June 30, 2021. That was an increase of 17 per cent from 469,000 tonnes in Q1 FY2021. As per the report released by the Company, the cast metal aluminium production (including trial run) at its smelters in Jharsuguda and BALCO increased due to ramp-up of pots. On a quarter-on-quarter basis, the production was higher by 3 per cent, said Vedanta in a statement. On a consolidated basis, Vedanta reported a net profit of INR 7,629 crore for the quarter ended on March 31, 2021, as compared to a net loss of INR 12,083 crore a year ago. Net sales increased by 42.8 per cent year-on-year to INR 27,874 crore during the quarter, primarily due to higher volume at...
Sanjeev Gupta battles to save its Belgian aluminium rolling mill from US equity firm AIP
A source reports that Sanjeev Gupta is making great efforts to lay hold of its Belgian aluminium rolling mill after a US private equity firm AIP took legal action in the UK to seize control. In an attempt to do so, Gupta’s metals group GFG Alliance, which is the subject of an investigation by the UK’s Serious Fraud Office, is fighting to refinance more than $5 billion of debt since the collapse of Greensill Capital, its main lender. The lender to GFG’s Duffel rolling mill outside Antwerp, however, launched legal proceedings in the past week. AIP successfully persuaded a court to appoint administrators at a UK holding company that owns the asset. That could result in the transfer of ownership of the Belgian mill from GFG Alliance to AIP. A spokesman for GFG said it is “vigorously...
China’s A00 aluminium ingot price slips by RMB20/t after three days of hike; Aluminium alloy (A356) price grows to RMB19750/t
A00 aluminium ingot price in China has recorded a dip of RMB 20 per tonne on Wednesday, July 14, following the past three consecutive days of decline, found the Shanghai Metals Market. Therefore, the price is standing at RMB 19,140 per tonne, with average prices expected to range between RMB 19,120 per tonne and RMB 19,160 per tonne. The spot contract is likely to be traded at a premium price of RMB 50-10 per tonne, up by RMB 10 per tonne from the previous day. Except in Tianjin where the primary aluminium ingot price has registered an increase of RMB 20 per tonne to RMB 19,140 per tonne, all other Chinese cities have witnessed declines. In Wuxi and Chongqing, A00 aluminium ingot price has decreased by RMB 40 per tonne to come in at RMB 19,130 per tonne and RMB 19,090 per tonne,...
Hindalco Industries cuts its aluminium ingot price by 1% to INR212750/t on July 13
Hindalco Industries Limited decreased its aluminium ingot and aluminium products prices by INR 2,250 per tonne or 1 per cent with effect from Tuesday, July 13. This has brought the company’s aluminium ingot price to INR 212,750 per tonne from INR 215,000 per tonne on July 10. Hindalco Industries’ aluminium wire rod price is standing at INR 223,850 per tonne with effect from July 13, also down by INR 2,250 per tonne from INR 226,100 per tonne last week. The company is selling its aluminium billets at INR 219,850 per tonne compared to INR 222,100 per tonne on July 10. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on Monday, July 12, fell by US$ 21 per tonne to stand at US$ 2,449 per tonne. On a...
US aluminium plates, sheets and bars exports to Mexico decline 11% M-o-M in April’21 but grow 29% over the year
According to the US Census Bureau data, the United States exported 23,900 tonnes of aluminium plates, sheets and bars to Mexico in April 2021. That was down by 10.88 per cent from 26,500 tonnes of exports in March 2021. In February 2021, the United States exported 21,800 tonnes of aluminium flat rolled products, which was 14.84 per cent down from March and 8.79 per cent down from January 2021. On a year-on-year calculation, the United States aluminium plates, sheets and bars exports to Mexico in April 2021 edged 29.19 per cent higher than 18,500 tonnes. In the first four months of the year, the United States aluminium flat rolled products exports to Mexico totalled 96,100 tonnes, up 500 tonnes or 0.52 per cent from 95,600 tonnes during the same period last year. The United States total...
Altech Chemicals progresses Pre-Feasibility Study for high-purity alumina coating plant in Germany
On Monday, July 12, Altech Chemicals (ATC) said that it advanced the Pre-Feasibility Study (PFS) for its battery materials high-purity alumina (HPA) coating plant in Germany. The plant in designed to coat 10,000 tonnes of anode graphite per year in its initial stage, using Altech’s alumina coating technology. Altech Chemicals also specified on Monday that the Pre-Feasibility Study was focused on the engineering design phase for the HPA coating plant. The process designs for the plant, which is likely to be constructed on a 14-hectare site, have also been completed, it said. Under the completed process, ATC said it should only take four steps to complete the coating process. The materials stock said the project began reaching out to suppliers for equipment packages, while discussions over...
Vedanta reduces its aluminium wire rod and billet prices by INR2250/t or 1% with effect from July 13
Vedanta Limited has reduced its aluminium products and aluminium ingot prices with effect from Tuesday, July 13, in line with the decline in LME aluminium benchmark price on Monday, July 12. Vedanta’s aluminium wire rod price has come in at INR 220,750- 228,250 per tonne, up by INR 2,250 per tonne or 1 per cent from INR 223,000-230,500 per tonne on July 10. Vedanta’s aluminium billet price has also seen a cut of INR 2,250 per tonne to INR 221,250 per tonne from INR 223,500 per tonne last week. The price cut with effect from July 13 has brought Vedanta’s aluminium ingot price to INR 213,250-226,250 per tonne from INR 215,500-228,500 per tonne on July 10. Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange,...
LME aluminium price opened the week lower at US$2449/t; SHFE price grew to US$2971/t
Three-month LME aluminium fell 0.06 per cent to close at US$ 2,492.50 per tonne on Monday. It is expected to trade between US$ 2,480-2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price opened the week on Monday, July 12, at US$ 2,449 per tonne, down by US$ 21 per tonne or 0.85 per cent from US$ 2,470 per tonne on Friday, July 9. 3-months bid price and 3-months offer price decreased by US$ 20 per tonne from US$ 2,488.50 per tonne to US$ 2,468.50 per tonne. Dec 22 bid price and Dec 22 offer price declined from US$ 2,473.50 per tonne to US$ 2,453.50 per tonne. LME aluminium opening stock stood further lower at 1496075 tonnes. Live Warrants totalled 897275 tonnes, while Cancelled Warrants closed at 598800 tonnes. Meanwhile, LME aluminium 3-months Asian...
European aluminium producers seeking exemption from carbon border tax
According to a recent report, European aluminium producers are seeking exclusion from the first phase of the European Union’s carbon border adjustment mechanism (CBAM), claiming that the initiative will put the industry at a competitive disadvantage to foreign rivals and do little to tackle climate change. Gerd Götz, director-general of European Aluminium, said: “In view of the many open questions and the significant negative impact of the current CBAM approach . . . aluminium should not be included in the pilot phase.” Green industrial conglomerate Mytilineos said the carbon border adjustment mechanism would encourage Chinese and Russian resource shuffling, meaning the aluminium producers from the two countries would redirect their low-carbon production to Europe, in a bid to avoid any...
China’s aluminium production edges 3% lower M-o-M but grows 7% on year to 3.22MT in June’21
According to the Shanghai Metals Market, China produced 3.22 million tonnes of aluminium in June 2021. That was down by 3.01 per cent month-on-month from 3.32 million tonnes after a hike last month. But on a year-on-year calculation, the output stood up by 7.3 per cent from 3 million tonnes. China’s daily average output stood at 107,200 tonnes in June, up 300 tonnes a day from the previous month. During January-June 2021, total aluminium production in China came in at 19.47 million tonnes, which was 8.1 per cent more than 18.01 million tonnes during the same period last year. The production resumption of aluminium in Yunnan was slow in June, while the production in Gansu and Henan gradually recovered. At the same time, some places in Guizhou saw a slight reduction in aluminium production....
Hindalco’s aluminium wire rod price grows by INR2750/t with effect from July 10
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices on Saturday, July 10, a day soon after it sharply reduced the prices. The company grew its aluminium wire rod price by INR 2,750 per tonne to sell the product at INR 226,100 per tonne. On Friday, July 9, Hindalco’s aluminium wire rod price stood at INR 226,100 per tonne, declining by INR 7,000 per tonne or per cent from INR 230,350 per tonne. With the latest cut, Hindalco’s aluminium billets price came in at INR 222,100 per tonne, also up by INR 2,750 per tonne from INR 219,350 per tonne on July 9. The company is currently selling its aluminium ingot at INR 215,000 per tonne with effect from July 10 against INR 212,250 per tonne on July 9. Hindalco links its aluminium ingot and aluminium products...
Bauxite (4.5≤Al/Si＜5.5) Henan price grows RMB27.50/t after a month-long restraint; A00 aluminium ingot price soars above RMB19000/t
After a month-long restraint, bauxite (4.5≤Al/Si＜5.5) Henan price has increased by RMB 27.50 per tonne to stand at RMB 387.50 per tonne as of Monday, July 12, found the Shanghai Metals Market. The average prices are expected to range between RMB 365-410 per tonne. Among other primary aluminium input costs, caustic soda (32% concentration) Shandong price has grown by RMB 15 per tonne to RMB 540 per tonne and aluminium powder price has inched up by RMB 0.20 per kg to come in at RMB 22.55 per kg. Amid the uptrend in raw materials prices, A00 aluminium ingot price in China has opened the week with a surge of RMB 210 per tonne, marking the second consecutive day of hike. According to SMM, this has brought the primary aluminium ingot price to RMB 19,060 per tonne, with average prices expected...
Weekly Downstream Aluminium Recap: Hydro to sell Hydro Precision Tubing Lichtervelde (HPTL) to Aurelius Group; Vedanta cuts aluminium products prices by INR7000/t
Right from Hydro signing an agreement to sell 100% of Hydro Precision Tubing Lichtervelde (HPTL) to Aurelius Group to Novelis Korea Limited plant successfully receiving the ASI Performance Standard certification, the global aluminium downstream sector has witnessed many this week. Hydro Extrusions signed an agreement to sell 100% of Hydro Precision Tubing Lichtervelde (HPTL) to Aurelius Group as part of the significant restructuring measures taken to support performance and cash generation in Hydro Extrusions. The sale is expected to close during the third quarter of 2021. Hydro Precision Tubing Lichtervelde is specialized in the manufacturing of welded tubes for a variety of markets, including Industrial Products and HVAC, having a plant consisted of a cast house, cold rolling mill, and...
Weekly Alumina Recap: Altech Chemicals establishes R&D laboratory in Perth; China’s alumina production in June declines to 6.12MT
News that has topped the headline this week under the alumina sector is Altech Chemicals Limited’s establishment of its own research and development laboratory in Perth, Western Australia. The news came after the company itself announced it on Monday, July 5. The establishment was smoothly transformed to Altech’s R&D laboratory, as it was previously occupied by an environmental consulting business. So, Altech can now conduct a full range of research, development, and test work (including battery tests) to refine its graphite and silicon particle battery materials HPA coating technology, unhindered at its laboratory. To know more: https://www.alcircle.com/news/altech-chemicals-establish-its-r-d-laboratory-in-perth-western-australia-67735 Indonesia’s first and largest smelter grade alumina...
China’s alumina production in June'21 reflects a decline of 4.7%; Output stands at 6.12 million tonnes
According to the Shanghai Metals Market data, China’s alumina production in June 2021 stood at 6.12 million tonnes, reflecting a downfall of 4.67 per cent from 6.42 million tonnes in the previous month. The output included 5.91 million tonnes of metallurgical grade alumina, which was 4.84 per cent down from 6.21 million tonnes produced in May. The daily average output of metallurgical grade alumina was 196,800 tonnes as it declined 1.73 per cent month-on-month but increased 7.38 per cent over the year. China’s total metallurgical grade alumina production during January-June came in at 35.33 million tonnes, up 8.25 per cent year-on-year. The decrease in China’s alumina output in June 2021 could be attributed to the shortage of ore in Henan and Shanxi and the general rise in coal prices...
