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.
Hindalco’s aluminium ingot price sees a sharp cut of 3% or INR7000/t with effect from July 9
Hindalco Industries Limited has reduced its aluminium ingot price by 3 per cent or INR 7,000 per tonne with effect from Friday, July 9, bringing it to INR 212,250 per tonne from INR 219,250 per tonne on July 3. With the latest cut, Hindalco is selling its aluminium wire rod at INR 223,350 per tonne, which is also down by 3 per cent or INR 7,000 per tonne from INR 230,350 per tonne almost a week ago. Hindalco’s aluminium billets price is currently standing at INR 219,350 per tonne against INR 226,350 per tonne on July 3. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during July 1-8 fell from US$ 2,481 per tonne to US$ 2,435 per tonne. On a month-on-month basis, the price is down by US$ 4 per...
Vedanta sharply cuts its aluminium wire rod and billet prices by INR7000/t with effect from July 9
Vedanta Limited has slashed its aluminium products and aluminium ingot prices after a week since it increased the prices by INR 4,000 per tonne on July 3. The company has decreased its aluminium wire rod and aluminium billet prices sharply by INR 7,000 per tonne or 3 per cent with effect from Friday, July 9, in line with the ongoing downtrend of the LME aluminium benchmark price since July 2. The cut today has brought Vedanta’s aluminium wire rod price at INR 220,250-227,750 per tonne from INR 227,250-234,750 per tonne on July 3. Vedanta’s aluminium billet price has come in at INR 220,750 per tonne against INR 227,750 per tonne last day. Vedanta’s aluminium ingot price has also seen a cut of INR 7,000 per tonne on July 9 from INR 219,750-232,750 per tonne to INR 212,750-225,750 per tonne....
LME aluminium price declined for the third consecutive day to US$2435/t; SHFE price closed US$3/t higher
Three-month LME aluminium fell 1.49 per cent to close at US$ 2,450.50 per tonne on Thursday. It is expected to trade between US$ 2,410-2,480 per tonne today. LME aluminium cash (bid) price and LME official settlement price extended decline for the third day in a row sharply by US$ 73.50 per tonne to close at US$ 2,435 per tonne on Thursday, July 8. 3-months bid price and 3-months offer price stood at US$ 2,450 per tonne, down by US$ 78 per tonne from US$ 2,528 per tonne on July 7. Dec 22 bid price and Dec 22 offer price plunged from US$ 2,499.50 per tonne to US$ 2,433.50 per tonne. LME aluminium opening stock decreased from 1526275 tonnes to 1517200 tonnes. Live Warrants totalled 907325 tonnes, while Cancelled Warrants stood at 609875 tonnes. LME aluminium 3-months Asian Reference Price...
Rheinmetall AG expects to secure 22 million euros worth aluminium pistons order; LOI signed with international carmaker
On Thursday, July 8, Rheinmetall AG has announced that it is expecting to bag a significant order of aluminium pistons from a renowned international carmaker. The German defense and automotive company has also said that it has already signed a letter of intent with the carmaker, and the order value is worth 22 million euros ($25.9 million) in sales volume. As mentioned in the letter of intent, Rheinmetall will develop and produce customised aluminium pistons, together with piston ring and piston pin, destined for the four-cylinder petrol engine of a new line of passenger cars made for the North American market. According to the report, both the companies have agreed to run the contract for seven years. Rheinmetall has also informed that production of the components is slated to begin in...
China’s aluminium billet inventories gain 12,600 tonnes this week on feeble demand with the arrival of traditional off-season
According to the Shanghai Metals Market, aluminium billet inventories have built up 12,600 tonnes or 11 per cent this week on Thursday, July 8, to stand at 123,800 tonnes. SMM found that with the arrival of the traditional off-season, the demand and consumption of downstream aluminium fell, resulting in the increase in inventories. It is expected that outbound quantity of aluminium billet will decrease next week and it is more likely that aluminium billet inventories will continue to pile up. Last week, aluminium billet inventories gained by only 1,400 tonnes from the previous week as aluminium billet outbound volume rose by 12,800 tonnes to 51,100 tonnes. The chart below indicates the current status of aluminium billet inventories across China in more details: Wuxi has seen the highest...
US aluminium scrap imports from Canada report a two-fold growth in April 2021
According to the US Census Bureau report, the country imported 34,200 tonnes of aluminium scrap from Canada in April 2021. That was almost flat compared to 34,800 tonnes in March 2021. However, the import volume in March increased month-on-month by 5,500 tonnes or 18.77 per cent from 29,300 tonnes in February. On the other hand, on a year-on-year calculation, the United States aluminium scrap imports from Canada stood double than 17,000 tonnes. In the first four months of the year, the United States aluminium scrap imports from Canada totalled 133,000 tonnes, up 25.47 per cent from 106,000 tonnes during the same period last year. The United States total aluminium imports (including aluminium crude metals and alloys and aluminium plates, sheets and bars) from Canada amounted to 299,000...
NALCO hikes its aluminium ingot price for the third time in a row to INR217,750-221,250/t on July 7
National Aluminium Company Limited’s (NALCO) aluminium ingot and aluminium products prices have extended their hikes for the third time in a row, from June 25 to July 7. With the latest rise on Wednesday, July 7, NALCO’s aluminium ingot price has come in at INR 217,750-221,250 per tonne, up by INR 4,900 per tonne or 2.30 per cent from INR 212,850-216,350 per tonne on June 30. NALCO’s aluminium wire rod and aluminium billets prices have also witnessed an increase of INR 4,900 per tonne on July 7. While the former is now standing at INR 221,250- 225,600 per tonne against INR 216,350-220,700 per tonne on June 30, the latter is ranging between INR 221,200-223,850 per tonne compared to INR 216,300-218,950 per tonne on the previous day. NALCO, like any other Indian aluminium producer, links its...
A00 aluminium ingot price in China extends decline to RMB18820/t; Caustic soda (32% concentration) price gains RMB20/t
A00 aluminium ingot price in China has extended its decline by RMB 20 per tonne to come in at RMB 18,820 per tonne on Thursday, July 8, found the Shanghai Metals Market data. The average prices are expected to range between RMB 18,800 per tonne and RMB 18,840 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne. Except for Gongyi, the decline in primary aluminium ingot price today has touched upon all the major markets in China. Wuxi and Tianjin has witnessed a decrease of RMB 50 per tonne to RMB 18,790 per tonne and RMB 18,800 per tonne, while the price in Hangzhou and Chongqing has reduced by RMB 40 per tonne to stand at RMB 18,810 per tonne and RMB 18,795 per tonne, respectively. In Shenyang and Linyi, A00 aluminium ingot price has also decreased by RMB...
China’s state metal reserves sold 50,000 tonnes of aluminium in just one day of two days auction on July 5-6
According to a report on Tuesday, July 6, China’s state metal reserves took only one of two days allotted of the auction to sell all the aluminium and copper that was on offer. Last month, the National Food and Strategic Reserves Administration announced that it would sell 50,000 tonnes of aluminium on July 5-6, as a measure to cool the metal price rally that resulted in a hike of raw material costs for Chinese manufacturers. The aluminium was split into around 200 lots. The auction of the last lot of 250 tonnes took place at 7:52 pm on Monday, showed a notice on the bidding platform operated by state-owned Norinco. The buyers of the metal from the auction are not known, although only manufacturers and fabricators were allowed to bid. One source at a state-run metals firm following the...
En+ Group’s Metals Segment teams with Ball Corporation to produce ultra-low carbon aerosols
On Wednesday, July 7, Rusal, the metals segment of En+ Group, the world’s largest producer of low carbon aluminium and independent hydropower, has announced that it has entered into a partnership agreement with Ball Corporation to produce aerosols and other containers, using ground-breaking inert anode technology. The ultra-low inert anode carbon aluminium is one of the several levers that Ball uses to reduce the carbon footprint of its aluminium slugs, cans, and bottles. Rusal recently announced that it successfully produced aluminium with the industry’s lowest carbon footprint: less than 0.01 tonnes of CO2e per tonne of metal. Hence, the purity of the metal is higher than 99 per cent. In the smelting process, inert anodes replace standard carbon anodes with inert, non-consumable...
Primary aluminium production in North America declines 5% YoY during May’21 but grows in South America by 36%
According to the International Aluminium Institute, primary aluminium production in North America stood at 329,000 tonnes during May 2021, reflecting a month-on-month increase of 2,000 tonnes or 0.61 per cent. In April, the output came in at 327,000 tonnes, down by 3.25 per cent from 338,000 tonnes in March. On a year-on-year calculation, on the other hand, primary aluminium production in North America during May 2021 edged a downfall of 4.91 per cent from 346,000 tonnes. In the first five months of 2021, primary aluminium production in North America totalled 1.642 million tonnes, down by 1.38 per cent from 1.665 million tonnes during the same period last year. In South America, primary aluminium production during May stood at 99,000 tonnes – 4,000 tonnes more than 95,000 tonnes in April....
Brazil’s Economy Ministry reports a 14% M-o-M rise in alumina exports during June 2021
According to the data released on Monday, July 5, by Brazil’s economy ministry, alumina exports from Brazil reflected a rise in June after registering a decline last month. In June, Brazil exported 816,785 tonnes of alumina, up by 20.13 per cent year-on-year from 679,916 tonnes. On a month-on-month basis, the export volume in June 2021 edged 13.62 per cent higher than 718,843 tonnes, attributed to significantly higher contributions from the northern Belém port in the Pará state. However, Bauxite shipments in June, on the other hand, fell 34.50 per cent. Shipments from the Belém port hit 497,230 tonnes in June, reflecting a year-on-year jump of 39.90 per cent from 355,414 tonnes. Norsk Hydro’s Alunorte alumina refinery operates near Belém.
LME aluminium price dropped US$10/t to close at US$2529.50/t; SHFE price plunged by US$49/t to US$2914/t
Three-month LME aluminium fell 2.03 per cent to close at US$ 2,506 per tonne on Tuesday. The contract is expected to trade between US$ 2,450-2,560 per tonne today. LME aluminium cash (bid) price and LME official settlement price dropped by US$ 10 per tonne to close at US$ 2,529.50 per tonne on Tuesday, July 6, following two consecutive days of hike. 3-months bid price and 3-months offer price stood at US$ 2,551 per tonne, down by US$ 7.50 per tonne from US$ 2,558.50 per tonne on July 5. Meanwhile, Dec 22 bid price and Dec 22 offer price inched up by US$ 1.50 per tonne from US$ 2,507.50 per tonne on July 5 to US$ 2,509 per tonne on July 6. LME aluminium opening stock decreased from 1552250 tonnes to 1538725 tonnes. Live Warrants totalled 933850 tonnes, while Cancelled Warrants stood at...
Primary aluminium production in East & Central Europe grows 3% during May’21; Output in West Europe increases by 4%
According to the International Aluminium Institute data, primary aluminium production in East & Central Europe during May 2021 stood at 351,000 tonnes. That was an increase of 2.93 per cent or 10,000 tonnes from 341,000 tonnes a month ago. The output in March was a little higher than April at 352,000 tonnes and up by 10.34 per cent from 319,000 tonnes in February. On a year-on-year calculation, on the other hand, primary aluminium production in East & Central Europe during May 2021 found flat, according to IAI data. In the first five months of the year, East & Central Europe produced 1.717 million tonnes of primary aluminium in total, which was 1 per cent less than 1.734 million tonnes during the same period last year. In West Europe, primary aluminium production during May came in at...
Novelis Plant in Korea receives ASI Performance Standard certification for responsible production of aluminium coil and sheet
Novelis plant in Yeongju, Korea, has bagged the ASI Performance Standard certification for recycling, re-melting, and manufacturing of aluminium coil and sheet activities. This news came after Aluminium Stewardship Initiative announced that it successfully certified Novelis Korea Limited plant at Yeongju for responsible production, sourcing, and stewardship of aluminium. The Novelis plant produces flat-rolled aluminium products serving the beverage can, food packaging, construction, and electronics markets across Asia. The plant’s recycling facility is the largest of its kind in Asia with a recycling capacity of 320,000 tonnes of aluminium annually. The ASI Performance Standard defines environmental, social, and governance principles and criteria, intending to address sustainability...
China’s aluminium processors report further decline in operating rates last week: Secondary alloy operating rates fall to 56%
Operating rates across major aluminium processors in China decreased slightly by 0.3 percentage point last week to stand at 73.1 per cent. Decline in orders, particularly in the real estate, transportation, and durable good sectors, with the arrival of traditional off-season contributed to this fall, found SMM. Operating rates at major primary aluminium alloy enterprises dropped to 59.2 per cent as poor car sales, chip shortage and high temperature continued to suppress demand for the metal. However, the China Passenger Car Association (CPCA) has predicted that the impact of chip shortage will reduce in the near future and that the chip shortage will get resolved by September with the release of more production capacity. Operating rates of major aluminium plate and strip enterprises saw a...
Hydro Extrusions agrees to sell Hydro Precision Tubing Lichtervelde plant to Aurelius Group
On July 2, 2021, 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, a wholly-owned subsidiary of Hydro, was founded in 1949. It 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 four tube lines, with 185 employees. Aurelius Group is a pan-European investment group, focused on acquiring corporate carve-outs and companies with operational improvement and growth potential, with...
China’s A00 aluminium ingot price slows down its growth to RMB20/t; Aluminium alloys prices stand muted
On Tuesday, July 6, A00 aluminium ingot price in China has slowed down its growth to RMB 20 per tonne compared to the sharp rise of RMB 430 per tonne on the previous day. According to the Shanghai Metals Market, the price is standing at RMB 19,120 per tonne, with average prices expected to range between RMB 19,100 per tonne and RMB 19,140 per tonne. Spot contract is likely to be traded at a premium price of RMB 50-10 per tonne. In Wuxi, Hangzhou, and Linyi, primary aluminium ingot price has climbed RMB 30 per tonne to come in at RMB 19,120 per tonne, RMB 19,130 per tonne, and RMB 19,050 per tonne, respectively. In Gongyi, primary aluminium ingot price has gained RMB 20 per tonne to RMB 19,010 per tonne, while the price in Foshan and Shenyang has increased by RMB 10 per tonne to peg at RMB...
