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.
LME aluminium price plunged by US$65.50/t after three days of hike; SHFE price fell sharply by 3.31% to US$2950/t
Three-month LME aluminium fell 1.48 per cent to close at US$ 2,429.50 per tonne on Wednesday, May 19. It is expected that the contract will trade between US $2,350-2,450 per tonne today. LME aluminium cash (bid) price and LME official settlement price plunged by US$ 65.50 per tonne after the last three consecutive days of hike to settle at US$ 2,402.50 per tonne on Wednesday, May 19. 3-months bid price and 3-months offer price decreased by US$ 66 per tonne to come in at US$ 2,432.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,427.59 per tonne on Wednesday compared to US$ 2,486 per tonne on Tuesday, May 18. The LME aluminium opening stock continued to decline from 1765525 tonnes on May 18 to 1759675 tonnes on May 19. Live Warrants totalled 1220825 tonnes, while...
Century Aluminum elects John Dezee as Executive Vice President and Matt Aboud as Senior Vice President
Century Aluminum Company has reportedly elected two new officers – John Dezee as Executive Vice President, General Counsel and Secretary and Matt Aboud as Senior Vice President, Strategy and Business Development. Both the officers will assume new roles on an immediate basis. Mr Dezee joined Century Aluminum in 2008 as an Associate General Counsel and took on new roles of increasing responsibilities ever since then. He came with his B.A. degree from Whitman College and J.D. from the University of California at Berkeley. Mr Dezee will assume his new roles of General Counsel and Secretary from Jesse Gary, the present Chief Operating Officer of Century. Michael Bless, Century’s President and Chief Executive Officer, commented: "Our Board and I are delighted to announce John's promotion to...
NALCO’s aluminium wire rod and billets prices cut by INR8800/t in line with W-o-W decline in LME aluminium benchmark price
National Aluminium Company Limited (NALCO) has sharply reduced its aluminium products and aluminium ingot prices with effect from Wednesday, May 19, following a significant hike in prices on May 11. With the latest cut, NALCO’s aluminium wire rod price has come in at INR 209,050-213,400 per tonne, down by INR 8,800 per tonne or 4 per cent from a week ago. On May 11, NALCO’s aluminium wire rod price stood at INR 217,850-222,200 per tonne, witnessing a surge of INR 7,500 per tonne. NALCO’s aluminium billets price has also been cut by INR 8,800 per tonne and is currently ranging between INR 209,000-211,650 per tonne, with effect from May 19. NALCO is now selling its aluminium ingot price at INR 205,550-209,050 per tonne compared to INR 214,350-217,850 per tonne last week. NALCO, like any...
New Zealand Aluminium Smelter releases environmental monitoring reports; Compliant with all environmental rules
The New Zealand Aluminium Smelter at Tiwai Point is confident in its environmental record after releasing 25 years of monitoring reports on Tuesday, May 18, to prove its commitment toward transparency and collaboration. The company has confirmed that it expects to release the contamination of soil and groundwater report by mid of this year. Last month, the New Zealand Aluminium Smelter issued the reports on key environmental issues at Tiwai smelter ahead of its closure scheduled in 2024, along with a sampling plan with details of the areas determined where extra testing as part of a close study should be conducted. The reports last month also showed how sea water started creeping into an area where NZAS stored a highly toxic substance. The smelter in a press release said, "Based on the...
China's major aluminium processors of extrusion to secondary alloy witness growth in operating rates, thanks to demand recovery in real estate
Operating rates at major aluminium processors in China increased 1.7 percentage points last week ended on May 14, with aluminium extrusion segment witnessing the biggest rise driven by demand recovery in the construction sector. Operating rates in the aluminium wire and cable industry rebounded slightly due to the concentrated delivery orders. Meanwhile, primary aluminium alloy sector saw a decline in operating rates as more carmakers curtailed output due to chip shortages. Operating rates at major primary aluminium alloy enterprises inched down by 0.9 percentage point from the previous week to 61.9 per cent. Output and sales fell month-on-month in April due to high aluminium prices and car chip shortages. Although wide spread between aluminium and silicon price improved profit of primary...
LME aluminium price settled higher for the third consecutive day at US$2468/t; SHFE declined 1.07% to US$3051/t
Three-month LME aluminium fell 1.22 per cent to close at US$ 2,466 per tonne on Tuesday, May 18. As the US dollar index continued to weaken in the near term, it is expected that LME aluminium will try to continue to repair the recent decline today. It is expected to trade between US$ 2,450-2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price grew for the third day in a row by US$ 13 per tonne or 0.53 per cent to come in at US$ 2,468 per tonne on Tuesday, May 18. 3-months bid price and 3-months offer price increased by US$ 19.50 per tonne from US$ 2,479 per tonne to US$ 2,498.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,486 per tonne on Tuesday compared to US$ 2,464.50 per tonne on Monday, May 17. The LME aluminium opening stock...
Mike Bless to retire as President and CEO of Century Aluminum; Jesse Gary being appointed as his successor
Century Aluminum announced on Monday, May 17, that Mike Bless would retire as President and Chief Executive Officer and also step down from the board on July 1, 2021. He served Century Aluminum for 15 years, including nearly 10 years as CEO. Mr. Bless will now continue to provide his guidance and expertise to Century as a strategic advisor until his ultimate retirement from the company on March 31, 2022. The company also announced the appointment of Jesse Gary, currently Century’s Executive Vice President, Chief Operating Officer and General Counsel, as a successor of Mr. Bless, with effect from July 1. Mr. Gary will also join the Board upon assuming his new role. “This leadership transition comes at the right time for Century, with Mike having established a strong foundation for...
EU suspends tariffs on US aluminium and steel; both countries seek long-term solutions to trade disputes
According to a recent report, the European Union and the United States mutually agreed to discuss and resolve trade disputes around aluminium and steel, which dates back to March 2018 when the former US President announced 10 per cent additional tariffs on aluminium and 25 per cent on steel imports originating from the EU. According to the European Commission, this represented €6.4 billion worth of trade. As a counter tariff, the European Union also imposed extra duties on a list of US imports worth €2.8 billion. The targeted products included steel, aluminium, peanut butter, whiskey, motorcycles, and jeans. In June 2021, the EU was supposed to add further €3.6 billion tariffs on the US to fully offset the effects of the Trump tariffs but temporarily suspended to give dialogue a chance to...
China’s unwrought aluminium and aluminium products imports grow record high at 281,139 tonnes in April 2021
In April 2021, China’s unwrought aluminium and aluminium products imports rose 36.1 per cent month-on-month and 165.2 per cent on-year to come in at 281,139 tonnes. In March, the imports stood at 206,556 tonnes. China, the world’s leading aluminium producer, brought in a record amount of aluminium in April 2021 as strong demand lifted Shanghai prices above London metal prices, resulting in opening an arbitrage window for cheaper overseas metal. The arbitrage was mostly closed in April but opened briefly in mid-March, paving the way for more imports, while the difference between Shanghai and London prices hit widest on May 13 since July last year. Meanwhile, China’s bauxite imports stood 12.3 per cent down year-on-year to 8.74 million tonnes in April 2021, showed customs data. On a...
Alumina spot price in China gains RMB9/t to settle above RMB2400/t; A00 aluminium ingot price stands at RMB19860/t
The average alumina spot price in China has inched up by RMB 9 per tonne to settle at RMB 2,407 per tonne as of Tuesday, May 18, according to the Shanghai Metals Market. In Henan, the price has increased by RMB 15 per tonne to come in at RMB 2,410 per tonne, while the price in Shandong and Guizhou has gained RMB 10 per tonne to stand at RMB 2,400 per tonne and RMB 2,380 per tonne. In Shanxi and Guangxi, alumina price has climbed by RMB 5 per tonne to peg at RMB 2,415 per tonne and RMB 2,380 per tonne, respectively. Australian alumina FOB price, on the other hand, has remained restrained at US$ 276 per tonne. A00 aluminium ingot price has surged by RMB 160 per tonne to stand at RMB 19,860 per tonne on May 18, marking the second consecutive day of growth, found SMM. The average prices are...
New Bulgari Aluminium Steve Aoki Special Edition Wristwatch launched
The Bulgari Aluminium Steve Aoki Special Edition has reportedly joined the recently relaunched Aluminium family of timepieces, the first generation of which was introduced in the late ’90s. The design of the watches was then influenced by the livery of Alitalia jumbo jets, matched an aluminium case with a rubber strap. Like many other luxury watches at that time, the original Aluminium edition contained a quartz movement, superseded by in-house mechanical calibers in the modern versions. Difference from the last year’s models of Steve Aoki Special Edition is the coating of Super-LumiNova on the entirety of the white dial, which is also adorned with Steve Aoki’s signature logo that exhibits boldly glowing face asserting itself in the darkness with a glorious radiance, according to the...
Bahrain’s export value gains 59% to BD295 million in April 2021; Unwrought aluminium alloys export accounts for BD54 million
The value of Bahrain’s exports of national origin increased 59 per cent in April 2021 to BD295 million ($778 million), of which unwrought aluminium alloys accounted for BD54 million and aluminium wire non-alloyed BD12 million. During the same month last year, Bahrain’s export value of national origin stood at BD186 million. The top 10 countries accounted for 81 per cent of Bahrain's total export value, with the Kingdom of Saudi Arabia (KSA) ranking first by importing worth BD57 million. Egypt BD38 million, and the UAE BD36 million. The total value of re-exports grew 39 per cent to reach BD53 million during April 2021, compared to BD38 million during the same period last year. The top countries accounted for 87 per cent, of which the UAE ranked first with BD19 million, KSA second with BD14...
A00 aluminium ingot price declines for the second consecutive day to RMB19660/t; Aluminium alloy(A356) price shrinks by RMB200/t
A00 aluminium ingot price in China has decreased for the second day in a row by RMB 160 per tonne to close the week on Friday, May 14, at RMB 19,660 per tonne, according to the Shanghai Metals Market. The average prices are expected to range between RMB 19,640 per tonne and RMB 19,680 per tonne, with spot contract to be traded at a premium price of RMB 30-10 per tonne. Linyi has seen the highest decline of RMB 180 per tonne to RMB 19,670 per tonne, followed by the plunge of RMB 170 per tonne in Foshan and Chongqing to RMB 19,740 per tonne and RMB 19,640 per tonne, respectively. In Gongyi and Wuxi, A00 aluminium ingot price has decreased by RMB 160 per tonne to come in at RMB 19,570 per tonne and RMB 19,660 per tonne, while the price in Hangzhou and Shenyang has slid by RMB 145 per tonne...
LME aluminium price extended downfall by US$51.50/t to US$2422.50/t; SHFE price shrank to US$3044/t
Three-month LME aluminium fell 1.68 per cent to close at US$ 2,554 per tonne on Thursday. It is expected to trade between US$ 2,400-2,480 per tonne today. LME aluminium cash (bid) price and LME official settlement price continued to decline for the third day in a row by US$ 51.50 per tonne to come in at US$ 2,422.50 per tonne on Thursday, May 13. 3-months bid price and 3-months offer price slid by US$ 56.50 per tonne from US$ 2,492.50 per tonne to US$ 2,436 per tonne. Dec 22 bid price and Dec 22 offer price came in at US$ 2,430 per tonne on Thursday, reflecting a decrease of US$ 58 per tonne from US$ 2,488 per tonne. The LME aluminium opening stock declined further from 1772700 tonnes on May 12 to 1766025 on May 13. Live Warrants totalled 1219700 tonnes, while Cancelled Warrants stood at...
Govt. approves Incentive Scheme for promoting battery storage manufacture; Use of domestic bauxite as raw material to grow
On Wednesday, May 12, the Union Cabinet approved the implementation of the Production Linked Incentive (PLI) Scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage’ for promoting battery storage manufacture at an estimated outlay of INR 18,000 crore. The proposal aims to achieve a manufacturing capacity of 50 Gigawatt Hour of ACC and 5 GWh of niche ACC and expects to attract an investment of INR 45,0000 crore, said Information and Broadcasting minister Prakhash Javadekar after the Cabinet meeting. He also said the implementation of this scheme would encourage the growth of consumer electronics, electric vehicles, advanced electricity grids, solar rooftops, etc., which are major battery-consuming sectors. It is also expected that the dominant battery technologies will...
China’s aluminium billet inventories slump 33,900 tonnes this week; SMM expects the downtrend to continue
Aluminium billet inventories in China decreased this week, ending on May 13, following a slight rise last week. According to the Shanghai Metals Market data, 6063 aluminium billet stocks shrank by 33,900 tonnes across the five major Chinese consumption areas to come in at 105,200 tonnes. SMM expects aluminium billet inventories to continue to fall next week as most of the large-scale aluminium extrusion plants operated at full capacity to fulfil orders. The chart below indicates the current status of aluminium billet inventories across China in more details: Foshan has seen the highest plunge in aluminium billet inventories this week of 12,000 tonnes from 63,000 tonnes on May 6 to 51,000 tonnes on May 13. In Huzhou, billet inventories declines by 10,000 tonnes to come in at 8,000 tonnes,...
Hindalco’s aluminium ingot price sees a decline of INR1500/t with effect from May 12
Hindalco’s aluminium ingot and aluminium products prices witnessed a decline on Wednesday, May 12, following a rise on the previous day. The company reduced its aluminium ingot price by INR 1,500 per tonne to INR 215,500 per tonne with effect from May 12. On May 11, the price stood at INR 217,000 per tonne, reflecting a hike of INR 2,750 per tonne from the previous day. Hindalco’s aluminium billets price came in at INR 222,600 per tonne compared to INR 224,100 per tonne on May 11. Since the latest hike on May 12, Hindalco Industries is selling its aluminium wire rod at INR 226,600 per tonne, which is also down by INR 1,500 per tonne from INR 228,100 per tonne on May 11. Hindalco links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London...
Vedanta sharply cuts its aluminium wire rod and billet prices by INR7250/t as LME aluminium benchmark price shrinks
Vedanta Limited, a subsidiary of Vedanta Resources Limited, has sharply cut its aluminium products and aluminium ingot prices with effect from Thursday, May 13. Vedanta's aluminium wire rod price has come in at INR 217,000-224,500 per tonne, down by INR 7,250 per tonne from INR 224,250-231,750 per tonne on Tuesday, May 11. Aluminium billet price has also been reduced by INR 7,250 per tonne on May 13 to INR 217,500 per tonne from INR 224,750 per tonne on May 11. The aluminium producer is selling its aluminium ingot price at INR 209,500-222,500 per tonne with effect from May 13 compared to INR 216,750-229,750 per tonne on May 11. Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which during May 11-12...
