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.
China plans to sell aluminium from its state reserves to curb price hike: Source
China is reportedly mulling to sell nearly 500,000 tonnes of aluminium from state reserves, in an attempt to calm the market and meet the Asian nation’s carbon emissions objectives, according to a person familiar with the plan. Selling off some of the highly carbon-intensive aluminium stocks is expected to help China offset production losses caused by its commitment to limiting energy usage as the country plans to achieve a carbon-neutral economy by 2060. However, going ahead, China’s aluminium selling plans, including the volume to be released, could be subject to change, said the person. According to the person, Beijing is keen to prevent the price hike of aluminium, one of the most widely used metals in goods like window frames, car parts, beverage can packaging, and so forth. A report...
Hindalco hikes its aluminium wire rod price by 1% on March 25 after a sharp cut of INR4250/t on March 24
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices on Thursday, March 25, following a sharp cut on March 24. Hindalco’s aluminium wire rod price witnessed a slash of INR 4,250 per tonne on March 24 from INR 200,350 per tonne to INR 196,100 per tonne. However, on March 25, the price increased by INR 2,250 per tonne or 1.22 per cent to come in at INR 198,350 per tonne. Hindalco’s aluminium billet price also edged INR 4,250 per tonne lower on March 24 to stand at INR 192,100 per tonne versus INR 196,350 per tonne on March 23. On March 25, the price gained INR 2,250 per tonne to settle at INR 194,350 per tonne. With effect from March 25, Hindalco’s aluminium ingot price stood at INR 187,250 per tonne, climbing by INR 2,250 per tonne as well from the...
Stadler Rail secures 40 aluminium electric train production contract from EAV
VOLTURNO Autonomous Body (EAV), the transport authority for the Campania region of Italy, has awarded a supply contract to Stadler Rail for up to 40 three-car electric multiple unit (EMUs) trains. Under the contract, Stadler will initially supply 231.5kV dc EMUs. The contract includes both production and delivery of 40m-long trains, as well as the provision of maintenance for five years after being commissioned. The contract is given to Stadler after a ruling by the Council of State on March 8 that selected the Swiss manufacturer of railway rolling stock to supply new trains, following a legal challenge by the company to overturn EAV’s earlier decision to award the contract to Hitachi in September 2019. The new trains, to be made of aluminium bodies to reduce energy consumption and...
Aluminium billet inventories in China nosedive by 34,700 tonnes this week on restocking due to lower prices
Shanghai Metals Market data showed on Thursday, March 25, that aluminium billet inventories in China decreased by 34,700 tonnes from a week ago across five major consumption areas, including SHFE warrants, to come in at 198,200 tonnes. Lower aluminium prices in the previous two days led to centralised restocking in the downstream, resulting in outbound quantity surge and a large short-term decline in aluminium billet inventories. Last week, on March 18, China’s aluminium billet inventories reduced by 3,900 tonnes week-on-week to stand at 232,900 tonnes. The chart below indicates the current status of aluminium billet inventories across China in more details: In Foshan, aluminium billet inventories plunged by 10,300 tonnes over the week to peg at 100,300 tonnes as of March 25, followed by...
LME aluminium price slipped to US$2208/t amid continued decline in aluminium opening stock; SHFE price further gained US$11/t
Three-month LME aluminium rose 0.36 per cent to close at US$ 2,256 per tonne on Thursday. It is expected to trade between US$ 2,230-2,260 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 12.50 per tonne on Thursday, March 25, to stand at US$ 2208 per tonne. 3-months bid price and 3-months offer price stood at US$ 2235.50 per tonne, down by US$ 13.50 per tonne from US$ 2249 per tonne on March 24. Dec 22 bid price and Dec 22 offer price hovered around US$ 2251 per tonne on March 25 compared to US$ 2261 per tonne on the previous day. The LME aluminium opening stock declined from 1946550 tonnes to 1934425 tonnes on Thursday, March 25. Live Warrants totalled 1278250 tonnes, while Cancelled Warrants stood at 656175 tonnes. LME aluminium 3-months...
Vedanta’s aluminium ingot price nosedived by INR4000/t on March 24 but gained 1% on March 25 to settle at INR185500-198500/t
Vedanta Limited slashed its aluminium ingot and aluminium products prices by INR 4,000 per tonne with effect from March 24, following a hike of INR 3,500 per tonne on March 23. That brought the company’s aluminium ingot price to INR 183,250-196,250 per tonne from INR 187,250-200,250 per tonne on March 23. Vedanta’s aluminium wire rod price came in at INR 190,750-198,250 per tonne on March 24 versus INR 194,750-202,250 per tonne on March 23. Aluminium billet price ranged between INR 191,250 per tonne. On the very next day, March 25, Vedanta’s aluminium ingot price rebounded slightly by INR 2,250 per tonne to come in at INR 185,500-198,500 per tonne. Vedanta’s aluminium wire rod and aluminium billet prices also saw a hike of INR 2,250 per tonne. While the former increased from INR...
Primary aluminium production in West, East & Central Europe declines by more than 9% in February 2021
In February 2021, primary aluminium production in East & Central Europe stood at 319,000 tonnes, reflecting a plunge of 34,000 tonnes or 9.63 per cent month-on-month, found the International Aluminium Institute. In January 2021, output was at 353,000 tonnes, up by 1,000 tonnes from 352,000 tonnes a month ago. Total primary aluminium production in East & Central Europe in the first two months of 2021 amounted to 672,000 tonnes, which stood 15,000 tonnes or 2.18 per cent less than 687,000 tonnes during the same period last year. In the entire year of 2020, primary aluminium output in East & Central Europe totalled 4.153 million tonnes, down by only 1 per cent from 4.157 million tonnes in 2019. Primary aluminium production in West Europe in February 2021 stood at 259,000 tonnes, down by...
ASI certifies Spanish aluminium can beverage packaging company against Performance & CoC Standard
S.A. Damm, a leading aluminium can beverage packaging company in Spain, has reportedly received ASI certifications against Performance Standard and Chain of Custody Standard. Damm is the first beverage company in the world to achieve double certifications, which cover packaging and storage of beer in cans and related activities such as design, packaging, and storage finished products, as well as waste management and storage and the recovery of waste, including packaging waste of the product consumed by the end consumer. With effect from March 2021, all Damm cans, which are supplied by Ball Corporation, will be certified against ASI standards in response to increasing consumers demand for greater sustainable packaged goods. Besides recognising production, sourcing and stewardship, ASI...
A00 aluminium ingot price builds-up RMB120/t to stand at RMB17200/t; Aluminium alloy(A356) price settles at RMB17900/t
According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a hike of RMB 120 per tonne to stand at RMB 17,200 per tonne on Thursday, March 25, following two consecutive days of decline from RMB 17,540 per tonne to RMB 17,080 per tonne. The average prices are expected to range between RMB 17,180 per tonne and RMB 17,220 per tonne, with spot contract to be traded at a premium price of RMB 20-20 per tonne. A00 aluminium ingot price in Foshan has also grown by RMB 120 per tonne to come in at RMB 17,200 per tonne, while the price in Hangzhou and Wuxi has climbed by RMB 130 per tonne and RMB 125 per tonne to peg at RMB 17,245 per tonne and RMB 17,215 per tonne, respectively. In Linyi and Gongyi, primary aluminium ingot price has increased by RMB 100 per tonne and RMB 60 per...
LME aluminium price edged US$15.50/t higher to settle at US$2220.50/t; SHFE price grew to US$2634/t
Three-month LME aluminium rose 1.54 per cent to close at US$ 2,248 per tonne on Wednesday. It is expected that the contract will trade between US$ 2,230-2,260 per tonne today. LME aluminium cash (bid) price and LME official settlement price grew by US$ 15.50 per tonne on Wednesday, March 24, to come in at US$ 2220.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2249 per tonne, up by US$ 15 per tonne from US$ 2234 per tonne on March 23. Dec 22 bid price and Dec 22 offer price expanded from US$ 2246 per tonne to US$ 2261 per tonne. The LME aluminium opening stock continued to decrease from 1956325 tonnes to 1946550 tonnes on Wednesday, March 24. Live Warrants totalled 1280650 tonnes, while Cancelled Warrants stood at 665900 tonnes. LME aluminium 3-months Asian...
China’s aluminium bars and extrusions exports rise 35.9% YoY to 153,200 tonnes during Jan-Feb 2021
China Customs data found the country’s aluminium bars and extrusions exports during January-February 2021 stood at 153,200 tonnes, reflecting a year-on-year rise of 40,500 tonnes or 35.9 per cent from 112,700 tonnes. Exports in January were at 93,800 tonnes, which in February decreased by 34,400 tonnes month-on-month to 59,400 tonnes. In January, China's aluminium bars and extrusions exports dipped 0.35 per cent month-on-month but increased 61.1% from the prior year. China’s aluminium extrusions had no major exporting countries in January and February 2021. Geographical distribution was relatively scattered, with top nine destinations including South Africa, the Philippines, Nigeria, Vietnam, Australia, Mexico, Israel, Thailand and Chile. From January to February 2021, China’s aluminium...
Chalco posts lowest annual profit in last four years in 2020; primary aluminium output declines 2.6% to 3.69MT
Aluminium Corporation of China Limited, popularly known as Chalco, posted the lowest annual profit in the last four years in 2020. It said in a filing that its net income fell 13.1 per cent year-on-year to RMB 741 million in 2020. The company's revenues stood down by 2.2 per cent to RMB 186 billion even when Shanghai aluminium prices rose more than 20 per cent amid a strong rebound in demand for Chinese aluminium during the year-end. Chalco attributed the revenue drop to a decrease in trade. In early March 2021, Shanghai aluminium prices climbed further to a new decade high but declined nearly 6 per cent on Tuesday on concerns China could release aluminium from state reserves. Net impairments totalled RMB 1.41 billion, of which customer bad debt contributed RMB 979 million and long-terms...
Hindalco Industries further expands aluminium wire rod price by INR3750/t with effect from March 23
Hindalco Industries Limited further expanded its aluminium products and aluminium ingot prices with effect from Tuesday, March 23. With the latest hike, Hindalco’s aluminium wire rod price is standing above INR 200,000 per tonne. It was increased by INR 3,750 per tonne on March 23 to INR 200,350 per tonne compared to the increase of INR 2,250 per tonne to INR 196,600 per tonne on March 18. Hindalco’s aluminium billets price also edged INR 3,750 per tonne higher with effect from March 23 to come in at INR 196,350 per tonne. On March 18, the price stood at INR 192,600 per tonne, growing by INR 2,250 per tonne from INR 190,350 per tonne on Wednesday, March 17. Hindalco’s aluminium ingot price clocked at INR 189,250 per tonne compared to INR 185,500 per tonne last week. Hindalco generally...
China’s A00 aluminium ingot price shrinks for the second day in a row to RMB17080/t amid muted input costs: SMM
A00 aluminium ingot price in China has continued to decline on Wednesday, March 24, to stand at RMB 17,080 per tonne, marking the second consecutive day of fall after a hike over the weekend on Monday, March 22. According to SMM, the average prices today are expected to range between RMB 17,060 per tonne and RMB 17,100 per tonne, with spot contract to be traded at a premium price of RMB 20-20 per tonne, up by RMB 40 per tonne from the previous day. In Foshan, A00 aluminium ingot price has also come in at RMB 17,080 per tonne, declining by RMB 150 per tonne on March 24. In Chongqing and Tianjin, primary aluminium ingot price has decreased by RMB 115 per tonne and RMB 100 per tonne, respectively, to stand at RMB 17,060 per tonne and RMB 17,110 per tonne. In Wuxi and Linyi, A00 aluminium...
LME aluminium price shrank to US$2205/t after a surge over the weekend; SHFE price declined to US$2619/t
Three-month LME aluminium fell 2.64 per cent to close at US$ 2214 per tonne on Tuesday. It is expected to trade between US$ 2,200-2,230 per tonne today. LME aluminium cash (bid) price and LME official settlement price shrank by US$ 49 per tonne to come in at US$ 2205 per tonne on Tuesday, March 23, following a surge over the weekend from US$ 2188 per tonne to US$ 2254 per tonne. 3-months bid price and 3-months offer price stood at US$ 2234 per tonne, down by US$ 48.5 per tonne from US$ 2282.50 per tonne on March 22. Dec 22 bid price and Dec 22 offer price decreased from US$ 2296 per tonne to US$ 2246 per tonne. The LME aluminium opening stock further declined from 1964025 tonnes on Monday, March 22, to 1956325 tonnes on Tuesday, March 23. Live Warrants totalled 1293150 tonnes, while...
World primary aluminium production sees M-o-M fall of 8.83% to 5.203MT in February 2021; Y-o-Y output grows 1.25%
In February 2021, world primary aluminium production plunged by 8.83 per cent month-on-month to stand at 5.203 million tonnes, bringing the total output in the first two months of the year to 10.930 million tonnes, found the International Aluminium Institute. In January 2021, world primary aluminium production saw a marginal rise of 0.23 per cent from 5.694 million tonnes in December 2020 to 5.707 million tonnes. On a year-on-year calculation, world primary aluminium production in February 2021 stood 1.25 per cent higher than 5.139 million tonnes, while the output during January-February stood up by 3.01 per cent from 10.611 million tonnes. In China, primary aluminium production in February 2021 stood at 3.017 million tonnes versus 3.320 million tonnes in January 2021 and 2.9 million...
China Hongqiao Group to release carbon reduction plans this year; aims at becoming carbon neutral by 2060
China Hongqiao Group will publish this year its lower carbon emission target along with the action plan on how to achieve it, according to a report last week after the world’s largest private-sector aluminium producer’s chairman Zhang Bo revealed at the China Development Forum that the firm would announce its goals and plans for carbon reduction later in the year. “We hope to explore specific paths and methods for the low-carbon transformation of China’s aluminium industry,” he said as quoted by Reuters. Hongqiao has already started working with some of the top domestic and international institutions to formulate its carbon-reduction plan as it is under tremendous pressure to begin reducing emissions before 2030 and become carbon neutral by 2060. According to an independent climate and...
Vedanta Aluminium bags three Kalinga Safety Excellence Awards for success in safe operation
According to a recent report, Vedanta Aluminium, India’s largest producer of aluminium and value-added products, has won three Kalinga Safety Excellence Awards for the performance year 2019 at Odisha State Safety Conclave 2020. Vedanta’s Jharsuguda unit has bagged the coveted Gold Award for safe operation at Thermal Power Plant (TPP) and Bronze Award for Smelter and Captive Power Plant (CPP). Lanjigarh alumina refinery has also received the Gold Award for safety performance. Kalinga Safety Award is one of the most prestigious awards in India, promoting a safety-first culture among the industries and recognising those enterprises that make significant efforts towards safety performance. Vedanta received the awards from Dr Surya Narayan Patro, Hon’ble Speaker of Odisha Legislative Assembly,...
