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 Industries grows its aluminium ingot price by 2% with effect from April 20
Hindalco Industries Limited has again significantly increased its aluminium ingot and aluminium products prices with effect from Tuesday, March 20, following a slash on last Saturday, April 17. With the latest hike, Hindalco’s aluminium ingot price has come in at INR 203,250 per tonne, up by INR 4,000 per tonne or 2 per cent from INR 199,250 tonnes last week. Hindalco’s aluminium wire rod price has also been expanded by INR 4,000 per tonne on April 20 to INR 214,250 per tonne, compared to INR 210,350 per tonne on April 17. Hindalco’s aluminium billets price has grown from INR 206,350 per tonne to INR 210,350 per tonne, reflecting a growth of INR 4,000 per tonne or 2 per cent as well. Hindalco links its aluminium products and aluminium ingot prices to the three-month futures of aluminium...
Chinese alumina refinery to halve its production due to bauxite supply shortage
According to a report on Monday, April 19, Chinese alumina refinery Kaiman Aluminium has reduced its production by half, claiming that bauxite supplies are limited. The refinery, owned by Hangzhou Jinjiang Group, is located in Sanmenxia city in Henan province. It has a per annum capacity of 2.1 million tonnes, which will reduce for at least the next one month with effect from April 19. Going ahead, the production cut may extend depending on the availability of bauxite supply in the local region. The production curtailment at the Chinese refinery is estimated to remove nearly 87,500 tonnes of alumina from the market over the initial period, which may cause concern for the overall domestic alumina market considering China’s alumina output of 73.13 million tonnes in 2020.
Metro Mining hopeful about 2021 as production resumes at Bauxite Hills mine
Metro Mining Limited has shown confidence about 2021 as its production has resumed at Bauxite Hills Mine after the northern Australia wet season. Metro Mining managing director Simon Finniss said that after a tricky 2020 when the bauxite markets experienced a dent due to the COVID-19 pandemic, we aim at supplying around 2.3 million wet metric tonnes (WMT) of bauxite to Xinfa in the immediate future. Mr Finniss said: “Trading conditions across the aluminium supply chain in China have stabilised and we foresee steady improvement during 2021, which we are hopeful will have a positive impact on bauxite demand and pricing.” Finniss also stated about an ongoing negotiation on a particular long-term contract, which if become successful, will begin in 2022 and extend over a five-year period....
China’s A00 aluminium ingot price shows restraint at RMB18120/t amid muted input costs: SMM
Primary aluminium ingot price in China has shown restraint on Tuesday, April 20, amid muted input costs. According to the Shanghai Metals Market data, A00 aluminium ingot price is resting at RMB 18,120 per tonne, with average prices to continue to range between RMB 18,100 per tonne and RMB 18,140 per tonne. However, the premium price has gained RMB 10 per tonne and is likely to be traded at RMB 20-20 per tonne. But despite the restraint in average primary aluminium ingot price, some of the major Chinese cities have witnessed growth or decline in prices. For instance, in Tianjin and Linyi, A00 aluminium ingot price has increased by RMB 30 per tonne and RMB 20 per tonne, respectively, to come in at RMB 18,110 per tonne and RMB 18,050 per tonne. On the other hand, Chongqing has seen a plunge...
Rusal announces its new brand ScAlution for producing aluminium-scandium products
Rusal, a leading global aluminium producer has announced the launch of a new brand ScAlution, under which the company will produce the entire range of aluminium-scandium products, including master alloys, slabs, billets, as well as wire and powders for additive technologies. For these purposes, Rusal has developed and patented aluminium-scandium lean alloys of the following grades: AA 5081 containing up to 0.10% of scandium for aerospace industry; AA 5181 containing up to 0.03% of scandium for transport engineering, including shipbuilding; and RS 553 powder for additive technologies. ScAlution alloys are used in lighter vehicles to reduce fuel consumption and carbon emissions. They are highly in demand across all aluminium-based industries. ScAlution alloys are an integrated term composed...
Hindalco and Vedanta cut their aluminium billets & wire rod prices by more than 1% with effect from April 17
A day after increasing the aluminium products prices by INR 7,000 per tonne on April 16, both Hindalco Industries Limited and Vedanta Limited reduced the prices by a little more than 1 per cent with effect from April 17, 2021. Hindalco’s aluminium wire rod price came in at INR 210,350 per tonne on April 17, representing a decline of INR 3,250 per tonne or 1.52 per cent from INR 213,600 per tonne. Vedanta, on the other hand, decreased its aluminium wire rod price by INR 3,000 per tonne or 1.43 per cent from INR 210,000-217,500 per tonne per tonne on April 16 to INR 207,000-214,500 per tonne on April 17. Hindalco’s aluminium billets price and Vedanta’s aluminium billets price also witnessed a cut of INR 3,250 per tonne and INR 3,000 per tonne, respectively, to INR 206,350 per tonne and INR...
A00 aluminium ingot price in China sheds RMB10/t to settle at RMB18120/t after a week-long hikes: SMM
A00 aluminium ingot price in China has opened the week on Monday, April 19, with a slight drop of RMB 10 per tonne to RMB 18,120 per tonne, following a week-long surge from US$ 17,380-18,130 per tonne during April 12-16, according to the Shanghai Metals Market. Today, the average prices are expected to range between RMB 18,100 per tonne and RMB 18,140 per tonne, with spot contract to be traded at a premium price of RMB 30-10 per tonne. However, in the major Chinese cities, A00 aluminium ingot price has recorded hikes. For instance, in Gongyi, the price has grown by RMB 40 per tonne to RMB 18,010 per tonne, followed by an increase of RMB 35 per tonne to RMB 18,135 per tonne on April 19. In Hangzhou, primary aluminium ingot price has gained RMB 25 per tonne to RMB 18,155 per tonne, while...
LME aluminium price decreased to US$2308.5/t after four consecutive days of hike; SHFE price edged lower at US$2768/t
Three-month LME aluminium slid 0.11 per cent to settle at US$ 2,318.50 per tonne last Friday. LME aluminium is likely to move between US$ 2,300-2,350 per tonne today. On Friday, April 16, LME aluminium cash (bid) price and LME official settlement price decreased to US$ 2,308.50 per tonne after the last four days of consecutive hikes from US$ 2,254 per tonne to US$ 2,328 per tonne. 3-months bid price and 3-months offer price declined from US$ 2,344 per tonne on April 15 to US$ 2,325.50 per tonne on April 16. Dec 22 bid price and Dec 22 offer price came in at US$ 2,337.50 per tonne, climbing down by US$ 18.50 per tonne from the previous day. The LME aluminium opening stock extended decline from 1829325 tonnes to 1824250 tonnes. Live Warrants totalled 1300675 tonnes, while Cancelled Warrants...
NALCO further expands its aluminium ingot price by INR7000/t with effect from April 16
National Aluminium Company Limited (NALCO) has again raised its aluminium ingot and aluminium products prices significantly after increasing them by INR 6,600 per tonne last week, April 9. With effect from April 16, NALCO’s aluminium ingot price came in at INR 201,250-204,750 per tonne, up by INR 7,000 per tonne from INR 194,250-197,750 per tonne on April 9. NALCO is selling its aluminium wire rod price at INR 204,750-209,100 per tonne, also an increase of INR 7,000 per tonne from INR 197,750-202,100 per tonne. NALCO’s aluminium billets price also saw a surge of INR 7,000 per tonne to 204,700-207,350 per tonne on April 16 from INR 197700-200,350 per tonne on April 9. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium products prices to the three-month...
LME aluminium price skyrocketed to US$2308.50/t this week; SHFE price edged US$138/t higher to reach US$2789/t
Three-month LME aluminium edged down 0.09 per cent to settle at US$ 2267 per tonne on Monday, April 12, while on Tuesday, April 13, it settled 1.65 per cent higher at US$ 2304.50 per tonne. On Wednesday, April 14, three-month LME aluminium settled 1.02 per cent higher at US$ 2328 per tonne. LME complex also cruised high on Thursday, April 15, including aluminium that gained 0.39 per cent. LME aluminium cash (bid) price and LME official settlement price skyrocketed this week by US$ 54.50 per tonne to reach US$ 2308.50 per tonne. Both the prices started the week on Monday, April 12, at US$ 2254 per tonne, which on the next day, April 13, grew to US$ 2278 per tonne. On Wednesday, April 14, the prices further increased to US$ 2297.50 per tonne. On Thursday, April 15, the prices crossed the...
Vedanta raises its aluminium products prices by over 3% in line with LME aluminium price surge above US$2300/t
Vedanta Limited has increased its aluminium ingot and aluminium products prices for the fifth time in a row with effect from Friday, April 16. In tandem with the continuous surge in LME aluminium benchmark price, the company has sharply increased the prices of its products by INR 7,000 per tonne after a week of the last price hike. Vedanta's aluminium wire rod price are hovering in the range of INR 210,000-217,500 per tonne, up by INR 7,000 per tonne or 3.45 per cent from INR 203,000-210,500 per tonne on April 9. The company’s aluminium billets price has also been raised by INR 7,000 per tonne from INR 203,500 per tonne on April 9 to INR 210,500 per tonne on April 16. Vedanta is currently selling its aluminium ingot at INR 202,500-215,500 per tonne compared to INR 195,500-208,500 per...
Hydro signs a 15-year natural gas sourcing contract with New Fortress Energy for its Alunorte alumina refinery
On Thursday, April 15, Hydro reportedly signed a Memorandum of Understanding (MoU) with New Fortress Energy (NFE) for sourcing natural gas for its Alunorte alumina refinery. The objective is to replace a part of current fuel oil consumption with environmentally friendly energy, aiming at meeting the commitment to reduce greenhouse gas emissions by 30 per cent by 2030. To switch to natural gas as an energy source at Alunorte, Hydro will modify the calcination process and part of the steam generation. According to the MoU signed, New Fortress Energy will deliver a minimum agreed amount of natural gas to the refinery per annum for a period of 15 years. The supply of liquefied natural gas to the refinery is expected to start in 2022. The gas is likely to come from an LNG regasification...
Hindalco’s aluminium ingot price sees a sharp rise of INR7000/t with effect from April 16
Hindalco’s aluminium ingot and aluminium products prices have witnessed a steep growth after a week of last raise in tandem with incessant increase in LME aluminium benchmark prices. With effect from Friday, April 16, the company’s aluminium ingot price has come in at 202,500 per tonne, reflecting a hike of INR 7,000 per tonne or 3.58 per cent from INR 195,500 per tonne on April 8. Hindalco is selling its aluminium wire rod price at INR 213,600 per tonne with effect from April 16 after raising it by INR 7,000 per tonne from INR 206,600 per tonne. Hindalco’s aluminium billets price is hovering at INR 209,600 per tonne, also up by INR 7,000 per tonne from INR 202,600 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
China’s primary aluminium inventories extend decline to 1.18 million tonnes this week
According to the Shanghai Metals Market, primary aluminium inventories in China extended decline this week by 45,000 tonnes across eight major consumption areas, including SHFE warrants, as of Thursday, April 15. Data showed the stocks stood at 1.18 million tonnes on April 15 in comparison with 1.23 million tonnes on last Thursday, April 8. Last week, primary aluminium inventories fell by 23,000 tonnes week-on-week, following a hike of 8,000 tonnes in the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: Gongyi saw the highest plunge in primary aluminium inventories by 27,000 tonnes to 148,000 tonnes on April 15, followed by the decline of 14,000 tonnes in Nanhai to 289,000 tonnes. Primary aluminium inventories in...
LME aluminium benchmark price soared above US$2300/t level to stand at US$2328/t; SHFE price grew to US$2789/t
The LME complex cruised higher on Thursday, April 15, including aluminium that gained 0.39 per cent. The benchmark LME aluminium price soared above US$ 2,300 per tonne level on April 15. Both LME aluminium cash (bid) price and LME official settlement price came in at US$ 2,328 per tonne on April 15, representing the fourth consecutive day of hike by US$ 30.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2,344 per tonne, climbing by US$ 29 per tonne from US$ 2,315 per tonne on April 14. Dec 22 bid price and Dec 22 offer price increased from US$ 2,335 per tonne to US$ 2,356 per tonne as of Thursday, April 15. The LME aluminium opening stock extended decline from 1833550 tonnes to 1829325 tonnes. Live Warrants totalled 1301425 tonnes, while Cancelled Warrants stood at...
China's alumina spot price inches up by RMB2/t after a month-long restraint; A00 aluminium ingot price expands to RMB18130/t
After remaining restrained for almost a month at RMB 2,338 per tonne, the average alumina spot price in China has inched up by RMB 2 per tonne to stand at RMB 2,340 per tonne on Friday, April 16, learned the Shanghai Metals Market. In Shanxi, the price has gained RMB 5 per tonne to come in at RMB 2,345 per tonne, with average prices likely to range between RMB 2,340 per tonne and RMB 2,350 per tonne. However, in other Chinese cities, the price has continued to remain restrained. Australian alumina FOB price has also not displayed any change from US$ 273 per tonne as of April 16. A00 aluminium ingot price has continued to grow, although slower than the three previous days, to close the week on Friday, April 16, at RMB 18,130 per tonne, according to SMM. The average prices are expected to...
Aluminium billet inventories in China shrink for the sixth week in a row to 165,200 tonnes: SMM
According to the Shanghai Metals Market, aluminium billet inventories in China have shrunk by 15,800 tonnes week-on-week across five major consumption areas to stand at 165,200 tonnes as of April 15, 2021. This marks the sixth consecutive week of decline since March 11, 2021. On last Thursday, April 8, China’s aluminium billet inventories stood at 181,000 tonnes, decreasing by 12,800 tonnes from a week ago. 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 today among all other major Chinese cities. The stocks there have decreased by 8,400 tonnes week-on-week to stand at 86,300 tonnes. In Wuxi and Nanchang, aluminium billet inventories have declined by 4,500 tonnes...
A00 aluminium ingot price in China exceeds RMB18000/t; Aluminium alloy (A356) price gains RMB300/t
A00 aluminium ingot price in China has continued to rise to exceed RMB 18,000 per tonne, found the Shanghai Metals Market. Data shows the price has surged by RMB 330 per tonne on Thursday, April 15, to come in at RMB 18,090 per tonne. The average prices are expected to range between RMB 18,070 per tonne and RMB 18,110 per tonne, with spot contract to be traded at a premium price of RMB 40-0 per tonne. In Wuxi, A00 aluminium ingot price has gained RMB 325 per tonne to stand at RMB 18,090 per tonne, while the price in Gongyi and Tianjin has increased by RMB 320 per tonne to peg at RMB 17,930 per tonne and RMB 18,030 per tonne, respectively. In Foshan, Hangzhou, and Linyi, the primary aluminium ingot price has grown by RMB 310 per tonne to reach RMB 18,140 per tonne, RMB 18,105 per tonne,...
