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.
Vedanta’s aluminium ingot price sees a rise of INR1500/t with effect from June 9
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the second time in a row since the last cut on June 4. With effect from Wednesday, June 9, Vedanta has increased its aluminium ingot price by INR 1,500 per tonne to INR 205,000-218,000 per tonne. The company is currently selling its aluminium wire rod at INR 212,500-220,000 per tonne, up by INR 1,500 per tonne or 0.70 per cent from INR 211,000=218,500 per tonne on June 5. Aluminium billet price has also been raised by INR 1,500 per tonne from INR 211,500 per tonne on June 5 to INR 213,000 per tonne on June 9. Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after June 4, climbed 0.21 per cent to stand at US$ 2,417.50...
Manaksia Aluminium reports a 19.46% increase in net profit in Q4 FY21 but a plunge of 154% in entire year
Manaksia Aluminium Company Limited, a producer of aluminium rolled products in coil and sheet form, has reported an increase of 35.14 per cent in its total income in the fourth quarter of fiscal 2021 ended on March 31. From INR 66.70 crore in Q3, Manaksia’s total income in Q4 rose to INR 90.14 crore. As a consequence, the company’s net profit grew 19.46 per cent quarter-on-quarter from INR 2.21 crore to INR 2.64 crore in 4Q2021. Earnings per Share (EPS) also increased by 17.65 per cent from INR 0.34 in Q4 ended on December 31, 2020, to INR 0.40 in Q4. However, on a year-on-year comparison, Manaksia Aluminium reported a decrease of 3.09 per cent in total income in the entire financial year 2020-21. The income stood at INR 275.73 crore in FY21 compared to INR 284.51 crore in FY2019-20. Net...
Bauxite (6.5≤Al/Si＜7.5) price in Guangxi rebounds to RMB280/t after a year; A00 aluminium ingot price closes RMB30/t higher
On June 9, 2021, Bauxite (6.5≤Al/Si＜7.5) price in Guangxi, China, has recorded a rise of RMB 15 per tonne after remaining restrained for over a year, found the Shanghai Metals Market. The price has rebounded to RMB 280 per tonne since its last plunge to RMB 265 per tonne on May 26, 2020. The average prices are expected to range between RMB 260-300 per tonne. Bauxite (4.5≤Al/Si＜5.5) price in Shanxi and Henan have increased by RMB 10 per tonne and RMB 7.5 per tonne, respectively, to peg at RMB 405 per tonne and RMB 340 per tonne, as of June 9. Their average prices are expected to range between RMB 380-430 per tonne and RMB 330-350 per tonne, respectively. Imported bauxite price from Indonesia has inched up by US$ 2 per tonne to US$ 53 per tonne, while the prices of other imported bauxites...
US aluminium plates, sheets and bars imports from Oman see a 21% rise to 20,400 tonnes in 1Q2021
The United States aluminium plates, sheets and bars imports from Oman have been consistently seeing an upward trend since the beginning of 2021. In March, the imports reached 10,400 tonnes, reflecting an increase of 4,620 tonnes or 79.93 per cent month-on-month. In February, the United States imported 39.28 per cent higher at 5,780 tonnes compared to 4,150 tonnes in January. Hence, in the first quarter of the year ended on March 31, the United States total aluminium plates, sheets and bars imports from Oman amounted to 20,400 tonnes, up 21 per cent from 16,860 tonnes in the previous quarter. The United States total aluminium plates, sheets and bars imports in March 2021 stood at 121,000 tonnes, up 49.94 per cent month-on-month from 80,700 tonnes. In January, the United States imported...
Rusal assures equal quality of aluminium for both domestic and foreign markets post demerger
Rusal has reportedly assured that domestic aluminium supply will not be more carbon-rich than the aluminium dedicated for exports after demerger of assets into a separate company. In fact, it will offer equal quality of aluminium to both domestic and foreign markets. The news came after Rusal CEO Evgeny Nikitin said this in an interview with TASS on the sidelinnes of the St. Petersburg International Economic Forum (SPIEF). Nikitin explained, "We did not imply such a division [in quality of aluminium], our clients will receive exactly the metal they order from us. Nobody says that Al+ will not supply products to the Russian market. The fact that the new company will focus on the domestic market, it happened with us historically, the enterprises of the new company today have more than 60%...
ISGEC Heavy Engineering assumes Operations & Maintenance of a leading Alumina Refinery in Odisha
On Friday, June 4, ISGEC Heavy Engineering Limited announced that it successfully acquired the Operations and Maintenance of a 3X30 MW cogeneration plant for one of the leading alumina refineries in Odisha, with effect from June 1, 2021. ISGEC also said that amid the pandemic it mobilised a team of 350+ for delivering higher efficiency, higher reliability, and better economics. And all it did while adhering to environmental norms. ISGEC possesses a vast operational data bank from 1000+ installations totalling to more than 40000MWe globally and SMEs (Subject Matter Experts) that work round the clock for the continuous improvement and cost-effect operation of the plant. The heavy engineering company is engaged in manufacturing and project businesses with an extensive global presence. Its...
Kaiser Aluminum bags ASI’s Provisional Performance Standard Certification for casting and rolling activities in Warrick
On Monday, June 7, Aluminium Stewardship Initiative announced that it successfully certified Kaiser Aluminum against the Performance Standard Certification with Provisional status. Kaiser has achieved the certification for its ingot casting centres, rolling mills, and finishing production centres in Warrick County, Indiana, USA. The Warrick rolling mill, one of four dedicated can sheet mills in North America, produces approximately 310,000 metric tonnes of flat rolled aluminium annually for the packaging industry like food containers, aluminium cans, and bottles. The plant has received Provisional Certification under the ASI Interim Policy regarding Audits, Audit-Related Travel and Coronavirus, which clarifies the reasonable accommodations that can be made to audit plans in consideration...
LME aluminium price settled US$5/t higher at US$2417.50/t; SHFE price climbed to US$2897/t
Three-month LME aluminium edged down 1.41 per cent to close at US$ 2,420.5 per tonne last night, and is likely to trade between US$ 2,410-2,460 per tonne today as the lower US dollar supports commodity prices. On Monday, June 7, LME aluminium cash (bid) price and LME official settlement price inched up US$ 5 per tonne to reach at US$ 2,417.50 per tonne. But 3-months bid price and 3-months offer price decreased by US$ 8 per tonne to come in at US$ 2,418.50 per tonne. Dec 22 bid price and Dec 22 offer price also decreased from US$ 2,433.50 per tonne to US$ 2,424 per tonne. LME aluminium opening stock declined from 1676100 tonnes on June 4 to 1666375 tonnes on June 7. Live Warrants totalled 1108100 tonnes, while Cancelled Warrants stood at 558275 tonnes. LME aluminium 3-months Asian...
Rusal targets 1Q2022 to spin-off its higher carbon assets
Russian aluminium producer Rusal 0486.HK has targeted the first quarter of 2022 as its timeline to complete the demerger of higher-carbon assets into a separate company. This news came after the company’s head of strategy Oleg Mukhamedshin officially told Reuters. "At this stage, management is preparing a proposal for the way forward," Mukhamedshin said, while adding "To what extent these proposals will be supported by all shareholders is too early to discuss. But we hope that they will be supported." En+ Group, which own 56.9 per cent of Rusal, supports the demerger of assets with a pro-rate distribution of shares among all shareholders. Rusal’s second-largest shareholder Sual partners said that it would like to see more options on the table. However, Mukhamedshin is of an opinion that...
Fiat Automobiles to entirely shift to electric vehicles by 2030
Fiat Automobiles S.p.A. is planning to entirely move to electric vehicles by 2030, according to its statement on June 6, 2021. The Italian automotive giant also plans to phase out combustion engine vehicles starting in 2025. "It is our duty to bring to market electric cars that cost no more than those with an internal combustion engine, as soon as we can, in line with the falling costs of batteries," said Olivier Francois, CEO at Fiat Automobiles. He added, "We are exploring the territory of sustainable mobility for all: this is our greatest project. Between 2025 and 2030, our product line-up will gradually become electric-only. This will be a radical change for Fiat." Fiat recently released an electric version of its 500 city car in some regions. The primary objective of the automaker is...
Vedanta increases its aluminium wire rod and billet prices by INR1750/t with effect from June 5
Vedanta Limited increased its aluminium products and aluminium ingot prices on Saturday, June 5, the next day after it cut the prices by INR 5,000 per tonne. The company expanded its aluminium wire rod price by INR 1,750 per tonne or 0.84 per cent to INR 211,000=218,500 per tonne, with effect from Saturday, June 5. Vedanta’s aluminium billet price also saw an increase of INR 1,750 per tonne from INR 209,750 per tonne on June 4 to INR 211,500 per tonne on June 5. With the last rise on June 5, Vedanta’s aluminium ingot price came in at INR 203,500-216,500 per tonne, also up by INR 1,750 per tonne from INR 201,750-214,750. Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which on Friday, June 4, climbed by...
Alumina price in China increases by RMB9/t after an intermittent restraint; Primary ingot price jumps above RMB18500/t
The average alumina spot price has continued to increase after an intermittent restraint on Friday, June 4. According to the Shanghai Metals Market, the price on June 7 has gained RMB 9 per tonne to come in at RMB 2,485 per tonne. In Shandong, alumina price has climbed by RMB 20 per tonne to RMB 2,490 per tonne, while the price in Henan and Shanxi has expanded by RMB 10 per tonne to come in at RMB 2,490 per tonne and RMB 2,500 per tonne, respectively. Australian alumina FOB price has recorded a rise as well of US$ 6 per tonne to peg at US$ 285 per tonne, found SMM. Among other primary aluminium input costs, aluminium powder price has inched up by RMB 0.20 per kg to settle at RMB 22.05 per kg. A00 aluminium ingot price has also commenced the week on Monday, June 7, with a hike of RMB 270...
End User Weekly Recap: CANPACK reports 21% growth in its beverage can bodies volumes; Colgate rolls out aluminium toothbrush
Starting from the launch of the world’s first electric motorcycle to toothbrush made of aluminium, end user sector has been through an eventful week during May 31-June 4. NawaRacer, the world’s first electric motorcycle is planning to launch in the coming months, but as per our report, it will hit on a race track, as the brand owners have not delivered any signal for its production as of yet. Nawa Technologies will bring in a zero-emission motorcycle, developed in association with YSY Group, Pronergy, FAAR and AKKA Technologies. To know more: https://www.alcircle.com/news/worlds-first-hybrid-electric-motorcycle-nawaracer-made-of-aluminium-all-set-to-fire-66429 The direct supplier of “Fire Safe” aluminium facade panels to the construction industry Australia wide, Aodeli appointed Lorraine...
Bauxite Weekly Recap: Ghana develops additional bauxite mines in Nyinahin and Kyebi, India’s untapped bauxite reserves to play a pivotal role
Bauxite market this week saw a few developments such as Ghana’s confirmation on the ongoing process of expanding the existing bauxite mine in Awaso and developing additional mines in Nyinahin and Kyebi. The West African nation Ghana, which ranks as one of the fastest-growing economies in Africa and where bauxite mining keeps on to be the most happening news in the past few months, has confirmed the ongoing process of expanding the existing bauxite mine in Awaso, as well as developing additional mines in Nyinahin and Kyebi. To know more: https://www.alcircle.com/news/ghana-develops-additional-bauxite-mines-in-nyinahin-and-kyebi-says-michael-ansah-66421 Canyon Resources Limited has made public that it has executed a Cahier de Charges, with the State of Cameroon (“Agreement”), in regards to...
LME aluminium price slowed down this week to settle at US$2412.50/t; SHFE price closed lower at US$2854/t
LME aluminium cash (bid) price and LME official settlement price started this week on Tuesday, June 1, with a surge of US$ 57 per tonne to US$ 2,461.50 per tonne from US$ 2,404.50 per tonne on Friday, May 28. On Wednesday, June 3, the price decreased by US$ 19.50 per tonne to come in at US$ 2,442 per tonne. It further decreased on Thursday, June 4, to stand at US$ 2,386.50 per tonne but increased on the subsequent day to close the week on June 4 at US$ 2,412.50 per tonne. 3-months bid price and 3-months offer price also slowed down this week by US$ 58.50 per tonne. The prices commenced the week on June 1 at US$ 2,485 per tonne and closed the week on June 4 at US$ 2,426.50 per tonne. Dec 22 bid price and Dec 22 offer decreased from US$ 2,486 per tonne to US$ 2,433.50 per tonne this week....
Colgate rolls out aluminium toothbrush to convince customers for lesser use of plastic
Toothbrush made of aluminium is now available in the market, thanks to Colgate. Called the Link Replaceable Head Toothbrush, Colgate has rolled out a toothbrush with aluminium handle in a bid to convince consumers to cut down the use of plastic. The product claims to use 80 per cent less plastic than a regular brush, attempting at providing an easy-breezy solution for consumers looking for simple ways to reduce plastic waste. Also, it claims to be used for a lifetime. Each set comes with two replaceable brush heads and one aluminium handle. They are available in two colours – silver and navy. The outer packaging of the product also contains 60 per cent recycled content. Two-pack refill kits of the brush heads are available in two bristle variants - deep clean and whitening....
European aluminium makers fear a demand drop as auto sales fall below pre-pandemic levels
European aluminium and aluminium alloy producers have been seeing a strong demand from carmakers and original equipment manufacturers (OEMs) until now in 2021. But some market participants fear a dip in demand as auto sales continue to run below pre-pandemic levels. They also forecast a significant fall in aluminium premiums later this year. When markets started reviving after the COVID-19 related lockdown restrictions in the latter part of 2020, automotive companies were among the main drivers for aluminium and aluminium alloys demand and remained so in 2021. Aluminium premiums and prices also rose consistently. LME aluminium benchmark prices traded at above US$2,400 per tonne through the early part of June so far, having ended 2020 at below US$2,000 per tonne. To sustain this high price...
US aluminium scrap imports from Mexico stand 43% higher M-o-M in March 2021: USGS
In March 2021, the United States aluminium scrap imports from Mexico stood at 19,300 tonnes, indicating a month-on-month hike of 5,800 tonnes or 42.96 per cent, found the US Geological Survey. In February, the United States imported 13,500 tonnes of aluminium scrap from Mexico compared to 14,500 tonnes in January 2021. On a year-on-year calculation, the United States aluminium scrap imports from Mexico in March 2021 stood up by 15,630 tonnes from 3,670 tonnes. Total aluminium scrap imports by the US from Mexico in Q1 2021 came in at 47,300 tonnes in comparison with 7,730 tonnes a year ago. The United States total aluminium imports (including aluminium crude metals and alloys and aluminium plates, sheets and strips) from Mexico stood at 26,000 tonnes in March, up by 7,600 tonnes or 41.30...
