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.
A00 aluminium ingot price settles above RMB15,500/t; Aluminium alloy(A356) price climbs by RMB150/t
According to the Shanghai Metals Market, A00 aluminium ingot price has extended its growth by RMB 160 per tonne to close the week on Friday, February 5, at RMB 15,510 per tonne. The average prices are expected to range between RMB 15,490 per tonne and RMB 15,530 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne, down by RMB 50 per tonne from the previous day. In Foshan and Chongqing, primary aluminium ingot price has increased by RMB 170 per tonne to RMB 15,470 per tonne and RMB 15,500 per tonne, respectively, while the price in Gongyi, Tianjin, and Linyi has climbed by RMB 140 per tonne to come in at RMB 15,370 per tonne, RMB 15,450 per tonne, and RMB 15,530 per tonne, respectively. In Shenyang and Wuxi, primary aluminium ingot price has surged by RMB...
LME aluminium price extended growth to U$1979.50/t; SHFE closed the week higher at US$2407/t
Three-month LME aluminium increased 0.91 per cent to close at US$ 1,994.50 per tonne on Thursday, February 4, with open interest decreasing 4,593 lots to 728,000 lots. LME aluminium cash (bid) price and LME official settlement price further witnessed a hike, albeit slower than the previous day, by US$ 6.5 per tonne to stand at US$ 1979.50 per tonne on Thursday, February 4. 3-months bid price and 3-months offer price stood at US$ 1984 per tonne, up by US$ 12 per tonne from US$ 1972 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2067.50 per tonne. The LME aluminium opening stock decreased from 1425225 tonnes on February 3 to 1415125 tonnes on February 4. Live Warrants totalled 1174675 tonnes, while Cancelled Warrants stood at 240450 tonnes. LME aluminium 3-months Asian...
Primary aluminium inventories build-up 32,000 tonnes to 714,000 tonnes, highest since October 2020
According to Shanghai Metals Market, social inventories of primary aluminium have built-up 32,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants. Data shows the inventories are standing at 714,000 tonnes as of February 4, the highest since October 15, 2020. Last week, on January 28, primary aluminium inventories came in at 682,000 tonnes, gaining 13,000 tonnes over the week. This shows the hike in primary aluminium inventories has expanded by 19,000 tonnes this week, ending on Thursday, February 4. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi and Hangzhou, primary aluminium inventories increased 18,000 tonnes and 10,000 tonnes, respectively, to come in at 87,000 tonnes and...
Novelis reports 19% higher net sales in Q3FY21 attributable to robust aluminium shipments
On Wednesday, February 3, Novelis Inc., the world leader in aluminium rolling and recycling, reported a net income attributable to common shareholder of $176 million in the third quarter of the financial year 2020-21, up 64 per cent year-on-year. The company’s net income from continuing operations stood at $195 million, 82 per cent higher than in the same period last year. Net sales increased by 19 per cent over the year to $3.2 billion in the third quarter of fiscal 2021, primarily due to a 17 per cent increase in total aluminium shipments and higher average aluminium prices. In the same quarter, Novelis’ flat rolled products shipments increased to 933,000 tonnes, reflecting the addition of acquired Aleris business and robust demand across the end-user markets, particularly beverage can....
A00 aluminium ingot price in China ascends to RMB15,350/t; It drives aluminium alloy (A356) price hike to RMB16,050/t
A00 aluminium ingot price has soared by RMB 320 per tonne to stand at RMB 15,350 per tonne on Thursday, February 4, following a plunge of RMB 160 per tonne to RMB 15,030 per tonne on February 3, found Shanghai Metals Market. The average prices are expected to range between RMB 15,330 per tonne and RMB 15,370 per tonne, with spot contract to be traded at a premium price of RMB 20-20 per tonne. In Gongyi, primary aluminium ingot price has jumped by RMB 350 per tonne to RMB 15,230 per tonne, while the price in Wuxi, Hangzhou, and Chongqing has increased by RMB 335 per tonne to come in at RMB 15,355 per tonne, RMB 15,385 per tonne, and RMB 15,330 per tonne, respectively. In Shenyang and Linyi, A00 aluminium ingot price has surged by RMB 320 per tonne and RMB 310 per tonne to RMB 15,350 per...
LME aluminium price gained US$15/t to stand at US$1973/t; SHFE price soared to US$2365/t
Three-month LME aluminium firmed 0.28 per cent to end at US$ 1,976.50 per tonne on Wednesday, February 3, with open interest decreasing 1,780 lots to 733,000 lots. LME aluminium cash (bid) price and LME official settlement price gained US$ 15 per tonne to stand at US$ 1973 per tonne on Wednesday, February 3. 3-months bid price and 3-months offer price stood at US$ 1972 per tonne, up by US$ 9.50 per tonne from US$ 1962.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2054.50 per tonne. The LME aluminium opening stock increased to 1425225 tonnes on February 3 from 1421725 tonnes on February 2. Live Warrants totalled 1173450 tonnes, while Cancelled Warrants at 251775 tonnes. LME aluminium 3-months Asian Reference Price hovered around US$ 1964.10 per tonne. SHFE Aluminium...
Vedanta cuts aluminium ingot price by 1.05% to INR165,500-178,500/t on February 3
Vedanta Limited decreased its aluminium ingot and aluminium products prices for the second time in a row with effect from Wednesday, February 3. The company is currently selling its aluminium ingot at INR 165,500-178,500 per tonne, down by INR 1,750 per tonne or 1.05 per cent from INR 167,250-180,250 per tonne on last Friday, January 29. Vedanta’s aluminium wire rod price has come in at INR 173,000-180,500 per tonne after being cut by INR 1,750 per tonne as well. On Friday, January 29, Vedanta’s aluminium wire rod price stood at INR 174,750-182,250 per tonne, down by INR 2,250 per tonne from INR 177,000-184,500 per tonne on January 26. Vedanta’s aluminium billets price is hovering around INR 173,500 per tonne versus INR 175,250 per tonne last Friday. Vedanta Limited links the prices of...
Hindalco reduces its aluminium wire rod and billets prices by INR1750/t with effect from February 3
Hindalco Industries Limited has further reduced its aluminium products and aluminium ingot prices, albeit slower than the previous time, with effect from Wednesday, February 3. The company reveals that it is now selling its aluminium wire rod price at INR 176,850 per tonne compared to 178,600 per tonne on Friday, January 29. This marks a decrease of INR 1,750 per tonne or 0.98 per cent in Hindalco’s aluminium wire rod price. With the latest cut, Hindalco’s aluminium billets price has come in at INR 172,850 per tonne, also down by INR 1,750 per tonne from INR 174,600 per tonne on January 29. The company has reduced its aluminium ingot price by INR 1,750 per tonne as well from INR 167,500 per tonne on January 29 to INR 165,750 per tonne on February 3. Hindalco Industries Limited links the...
US primary aluminium production declines by only 1% M-o-M to 74,000 tonnes in Nov’20; Secondary recovery stands 5% down
The United States domestic primary aluminium production stood at 74,000 tonnes in November 2020, registering a drop of 1,000 tonnes or 1.33 per cent from 75,000 tonnes in October, found the US Geological Survey. The average daily production in the same month was 2,450 tonnes, slightly less than in October 2020, 18 per cent less than in November 2019, and 16 per cent less than in November 2018, as shown in the table below. Total aluminium recovered from scrap in November 2020 amounted to 264,000 tonnes, 5 per cent less than in October 2020 and in November 2019. Of this, 141,000 tonnes of aluminium was recovered from new scrap and 122,000 tonnes from old scrap. In November 2020, the United States average spot market price of primary aluminium ingot was $1.01 per pound, up 7 per cent...
China’s average alumina spot price stands lower at RMB2388/t after a restraint last day; A00 aluminium ingot price extends decline
The average alumina spot price in China has recorded a decline of RMB 14 per tonne to stand at RMB 2,388 per tonne on Wednesday, February 3, following a restraint last day at RMB 2,402 per tonne, found Shanghai Metals Market data. In Henan and Shanxi, alumina price has plunged by RMB 17.50 per tonne to come in at RMB 2,392.50 per tonne, while that in Shandong, Guizhou, and Guangxi has remained restrained. A00 aluminium ingot price has registered a sharp downfall of RMB 160 per tonne to stand at RMB 15,030 per tonne on February 3, marking the second consecutive day of decline, learned SMM. The average prices are expected to range between RMB 15,010 per tonne and RMB 15,050 per tonne, with spot contract to be traded at a premium price of RMB 20 per tonne. Chongqing has seen the highest fall...
LME aluminium price extended decline sharply by US$27.50/t to US$1958/t; SHFE price plunged to US$2326/t
Three-month LME aluminium bounced off a two-week low of US$ 1,953 per tonne to an intraday high of US$ 1,979 per tonne before relinquishing some gains to end 0.54 per cent higher at US$ 1,971 per tonne on Tuesday, February 2, with open interest adding 4,145 lots to 735,000 lots. LME aluminium cash (bid) price and LME official settlement price decreased sharply by US$ 27.50 per tonne to stand at US$ 1958 per tonne on Tuesday, February 2. 3-months bid price and 3-months offer price stood at US$ 1962.50 per tonne, down by US$ 20 per tonne from US$ 1982.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2042.50 per tonne. The LME aluminium opening stock edged lower at 1421725 tonnes on February 2 compared with 1428175 tonnes on February 1. Live Warrants totalled 1164200...
Egypt’s aluminium export increases 7% to $575 million in 2020
Egypt’s aluminium and copper export values gained 5.3 per cent in 2020 to stand at $748 million, compared to $710 million in 2019, showed the Middle East News Agency (MENA). Algeria, Italy, Turkey, Morocco, Greece, Libya, Sudan, Germany, Lebanon, and Spain were the top exporters, accounting for 70.40 per cent of Egypt’s total aluminium and copper exports in 2020, with a total value of $526.676 million. Egypt’s aluminium export value recorded an increase of 7 per cent to $575 million in 2020 from $539 million in 2019, as shown by a report by the Export Council for Building Materials, Refractory, and Metallurgy Industries (ECBM). Italy topped Egypt's 65 aluminium importers with $285.513 million in 2020, representing 49.6 per cent of Egypt's total exports of aluminium.
Why Buy AlCircle’s Report on “Global Aluminium Industry Outlook 2021”?
The year 2021 stands as a year of hope and aspiration for the aluminium metal industry after it’s been through a malaise last year caused by the unprecedented COVID-19 outbreak. So, in the recently-published report - “Global Aluminium Industry Outlook 2021” , AlCircle has made an attempt to share its in-depth analysis and projection into the shaping of aluminium industry in 2021, while speculating earlier investments, policy changes, and price trend. The global aluminium usage is estimated to have declined by 4.1% to 84.5 million tonnes in 2020 amid production surge to over 65 million tonnes and increased inventories leading to supply-demand gap. However, China has managed to strengthen up its economy and aluminium usage, which is estimated to have expanded although marginally. AlCircle...
New Zealand Government announces resolution to accelerate aluminium dross removal from Mataura
The New Zealand Government has reportedly announced a resolution to speedily remove ouvea premix, an aluminium dross by-product stored in an old paper mill site next to the river at Mataura. Environment Minister David Parker hopes this resolution gives Mataura residents greater peace of mind as they will no longer need to worry about the risk of hazardous ammonia gas that could emit from the material when wet. "This resolution will protect the wellbeing of Southland's people and its waterways," said David Parker. The resolution is the outcome of negotiations between the parties supervised by Environment Court Judge Laurie Newhook, following legal action brought by the Environment Defence Society to determine ownership and responsibility for removing ouvea premix. The Ministry of the...
EGA to supply 43,000 tonnes of solar-powered ‘CelestiAL’ aluminium to its first customer BMW
On Tuesday, February 2, Emirates Global Aluminium, the world’s biggest ‘premium aluminium’ producer, announced that it secured BMW as the first customer for its solar-powered CelestiAL aluminium. According to the contract, EGA will supply 43,000 tonnes of the UAE’s first-of-a-kind aluminium, produced using solar power, to BMW every year. Using solar aluminium from EGA will help BMW reduce around 222,000 tonnes of CO2 emissions per year. EGA has been supplying aluminium to BMW since 2013 worth a three-digit million-euro sum for the use in German carmaker’s engines and other parts. EGA’s CelestiAL aluminium will meet half the annual requirements of BMW Group’s only light metal casting facility in Europe - Plant Landshut. Last year, Plant Landshut produced 2.9 million cast metal components,...
Prebaked anode price in Central China grows by RMB55/t after almost a month-long restraint; A00 aluminium ingot price declines
According to Shanghai Metals Market, prebaked anode price in central China has recorded a hike of RMB 55 per tonne to peg at RMB 3,700 per tonne on Tuesday, February 2, following almost a month-long restraint at RMB 3,645 per tonne. The average prices are expected to range between RMB 3,500 per tonne and RMB 3,900 per tonne, showed SMM. In the northwest, prebaked anode price has grown by RMB 35 per tonne to stand at RMB 3,950 per tonne, with average prices estimated to hover around RMB 3,750-4,150 per tonne. In the east and southwest, however, prebaked anode price has remained restrained at RMB 3,687.50 per tonne and RMB 3,772.50 per tonne, respectively. A00 aluminium ingot price, on the other hand, has decreased by RMB 40 per tonne to come in at RMB 15,190 per tonne on February 2,...
Three-month LME aluminium settled at a two-week low of US$1960.50/t; SHFE showed restraint
Three-month LME aluminium declined 0.83 per cent to settle at a two-week low of US$ 1,960.50 per tonne on Monday, February 1. LME aluminium cash (bid) price and LME official settlement price started the week and also the month on Monday, February 1, with a drop of US$ 1.5 per tonne to stand at US$ 1985.50 per tonne, following an increase of US$ 8 per tonne to stand at US$ 1987 per tonne on Friday. 3-months bid price and 3-months offer price stood at US$ 1982.50 per tonne, down by US$ 5 per tonne from US$ 1987.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2058.50 per tonne. The LME aluminium opening stock decreased to 1428175 tonnes from 1431050 tonnes. Live Warrants totalled 1161400 tonnes, while Cancelled Warrants at 266775 tonnes. LME aluminium 3-months Asian...
Chinese aluminium processors’ operating rates drop 3.6 percentage points due to less operation for forthcoming CNY holiday
According to the Shanghai Metals Market survey, aluminium processors’ operating rates declined last week by 3.6 percentage points from a week ago, primarily attributing to less operation ahead of the Chinese New Year (CNY) holiday and tight logistics. Construction extrusion, wire and cable, and secondary aluminium industries saw a bigger decline as their producers started closing down activities for the forthcoming holiday and due to stringent raw material supply. Aluminium plate, strip, foil and industrial extrusion producers, on the other hand, had relatively abundant orders and therefore maintained stable production. Going ahead, the overall decline in operating rates at aluminium processing enterprises will expectedly expand further as most of the small and medium-sized companies will...
