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.
Metro Mining sees a positive year ahead aiming at selling 2.3 million tonnes of bauxite to Xinfa
Metro Mining is projecting a positive year ahead with sales expected to progress, including 2.3 million tonnes under an offtake agreement with Xinfa. The company is also satisfactorily placed in terms of financial position for 2021, led by the robust bauxite deliveries during the June and September quarters of 2020. Metro Mining’s Bauxite Hills Mine project moved into the wet season shut down earlier than usual in September 2020 due to the COVID-19 impact and downtrend in commodity prices. But in the December quarter, the mine started working towards maintenance and haulage fleet across the site to resume operations in April 2021. Key land-based activities undertaken during the quarter include maintenance of haul roads and creek crossing, which will accelerate further towards the end of...
Primary aluminium production in East & Central Europe grows marginally Q-o-Q to 1.043MT in Q4 2020
Primary aluminium production in East & Central Europe rebounded to 352,000 tonnes in December 2020, found the International Aluminium Institute. In November 2020, the output stood at 340,000 tonnes, down by 11,000 tonnes or 0.57 per cent from 351,000 tonnes in October. This brings primary aluminium production in East & Central Europe during the December quarter to 1.043 million tonnes, an increase of only 0.68 per cent quarter-on-quarter from 1.036 million tonnes. However, over the year, it declined by 1.42 per cent from 1.058 million tonnes. On a year-on-year basis, East & Central Europe’s primary aluminium production in December 2020 stood down by 5,000 tonnes or 1.40 per cent from 357,000 tonnes. East & Central Europe’s total production in 2020 amounted to 4.153 million tonnes, almost...
LME aluminium price closed the week at US$1987/t; SHFE jumped to US$2352/t on Monday
Three-month LME aluminium ended 0.23 per cent lower at US$ 1,977 per tonne last Friday, January 29, with open interest increasing 1,937 lots to 741,000 lots, and is likely to trade between US$ 1,990-2,050 per tonne today. LME aluminium cash (bid) price and LME official settlement price climbed by US$ 8 per tonne to stand at US$ 1987 per tonne on Friday, January 29, following a downfall from US$ 2003.50 per tonne to US$ 1987 per tonne on January 28. 3-months bid price and 3-months offer price stood at US$ 1987.50 per tonne, up by US$ 9 per tonne from US$ 1978.50 per tonne. Dec 21 bid price and Dec 21 offer price hovered around US$ 2061 per tonne, growing by US$ 6.5 per tonne. The LME aluminium opening stock increased to 1431050 tonnes from 1424175 tonnes. Live Warrants totalled 1179500...
Vedanta reports 35% higher consolidated net profit of INR 3,017 Cr. in Q3FY21; Net sales up by 6.4% YoY
Vedanta Limited, one of the world’s leading diversified natural resource companies, has reported consolidated net profit of INR 3,017 crore in the third quarter of FY2020-21 ending on December 31. The profit stood up by 35 per cent from the same period last year backed on higher revenues. Net sales during the same period under review also increased 6.4 per cent year-on-year to INR 22,498 crore, buoyed by Vedanta’s robust aluminium and zinc business, higher commodity prices, rupee depreciation, and successful project delivery in the oil & gas vertical. Sunil Duggal, chief executive officer at Vedanta, said: "Our businesses stayed resilient in the quarter amidst uncertain market environment reporting the highest EBITDA in last two years. We continue to ramp up across the Zinc and Iron &...
LME aluminium price plunged this week to US$1987/t amid opening stock surge to 1431050 tonnes; SHFE stood range-bound
Three-month LME aluminium rose 1.28 per cent to close at US$ 2020 per tonne on Monday, January 25. On Tuesday, January 26, it further climbed to US$ 2023 per tonne, but lost 1.75 per cent to close at US$ 1987.50 per tonne on Wednesday, January 27. On Thursday, three-month LME aluminium dipped 0.3 per cent to settle at US$1981.5 per tonne. LME aluminium cash (bid) price and LME official settlement price plunged this week during January 25-29 from US$ 2011.50 per tonne to US$ 1987 per tonne. In the two initial days, the prices surged from US$ 1975.50 per tonne to US$ 2011.50 per tonne and then to US$ 2025 per tonne, but started decreasing from Wednesday, January 27, to US$ 2003.50 per tonne. On Thursday, January 28, both LME aluminium cash (bid) price and LME official settlement price...
Crown to establish new aluminium beverage can manufacturing facility worth $145 million in Virginia
Beverage packaging manufacturer Crown has reportedly announced to inaugurate a new aluminium beverage can manufacturing facility in Henry County, Virginia. The plant, to be located in Commonwealth Crossing Business Centre, will mark Crown’s third greenfield beverage can manufacturing investment in North America over the past five years. The facility is expected to expand Crown’s North American supply network, aiming at addressing the growing market demand for standard and speciality beverage cans across varied categories such as sparkling water, energy drinks, carbonated soft drinks, teas, functional beverages, Hard seltzers, beers, and cocktails. Crown will invest $145 million in the facility. Timothy Donahue, president and CEO of Crown, commented: “This investment further demonstrates...
Vedanta’s aluminium ingot & products prices down by INR2250/t after a hike this week
Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Friday, January 29, in line with sluggish LME aluminium benchmark price since January 27. Decreasing the aluminium ingot price by INR 2,250 per tonne, Vedanta is now selling it at INR 167,250-180,250 per tonne versus INR 169,500-182,500 per tonne on January 26. With the latest cut, Vedanta’s aluminium billets price has come in at INR 175,250 per tonne, down by INR 2,250 per tonne from INR 177,500 per tonne. Vedanta’s aluminium wire rod price is hovering around INR 174,750-182,250 per tonne, registering a fall of INR 2,250 per tonne as well from INR 177,000-184,500 per tonne on January 26. Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of...
NALCO elevates its aluminium ingot price by INR1400/t with effect from January 28
National Aluminium Company Limited (NALCO) has raised its aluminium ingot and aluminium products prices with effect from Thursday, January 28, after two consecutive weeks of decline. With the latest hike, NALCO’s aluminium ingot price has come in at INR 169,250-172,750 per tonne versus INR 167,850-171,350 per tonne on January 21. This registers an increase of INR 1,400 per tonne over the week. NALCO’s aluminium billets price is standing at INR 172,700 – 175,350 per tonne, up by INR 1,400 per tonne from INR 173,000-175,650 per tonne in the previous week. The price of aluminium wire rod has also been raised by INR 1,400 per tonne from INR 171,350-175,700 per tonne to INR 172,750 – 177,100 per tonne. NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium...
“AlCircle Expo 2021” Coming Soon! Are you ready to participate?
With advent of the New Year 2021, AlCircle has started gearing up for its second virtual event - “ AlCircle Expo 2021 ”. Thanks to our viewers kind support, enormous encouragement, and inspiring feedback that we have planned an online expo yet again. This time it’s going to be Bigger, Better, and Grander. It shall be held virtually on June 29 & 30, from 9AM to 5PM GMT. Like the former, the expo 2021 is also aimed at bringing the aluminium industry leaders and partners from the entire value chain of aluminium under one roof virtually, driven by more advanced technology to enable them to build a stronger network. As AlCircle is always committed to offer superior experience and information, this time will be no exception with more enticing digital tools besides video calls, exchange of...
A00 aluminium ingot price gains RMB100/t after three consecutive days of decline; Input costs remain muted
A00 aluminium ingot price has recorded a hike of RMB 100 per tonne to close the week on Friday, January 29, at RMB 14,970 per tonne, after declining in the past three days in a row from RMB 15,030 per tonne to RMB 14,870 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 14,950 per tonne and RMB 14,990 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne. In Foshan, A00 aluminium ingot price has surged by RMB 140 per tonne to come in at RMB 14,950 per tonne, while in Wuxi, the price has increased by RMB 120 per tonne to stand at RMB 14,980 per tonne. In Gongyi, Chongqing, and Linyi, primary aluminium ingot price has grown by RMB 110 per tonne to peg at RMB 14,870 per tonne, RMB 14,940 per tonne, and RMB 15,040 per...
Primary aluminium inventories gain 13,000 tonnes this week to stand at 682,000 tonnes
According to Shanghai Metals Market, social inventories of primary aluminium have gained 13,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants. Data shows the stocks this week, ending on Thursday, January 28, have come in at 682,000 tonnes compared to 669,000 tonnes last Thursday, January 21. The chart below indicates the current status of primary aluminium inventories across China in more details: Primary aluminium inventories have increased the highest in Hangzhou by 8,000 tonnes to 67,000 tonnes, followed by the hike of 6,000 tonnes in Nanhai to 164,000 tonnes. In Gongyi, primary aluminium inventories have climbed by 5,000 tonnes to clock at 69,000 tonnes, while in Linyi, the stocks have inched up by 1,000 tonnes to come in at 7,000 tonnes....
Japan’s aluminium extruded and rolled products output declines by 10% in 2020 on slower demand
Slowdown in demand due to the global manufacturing downturn amid the COVID-19 pandemic has resulted in a decline in Japan’s aluminium products output for 2020, found the Japan Aluminium Association. Data shows production of rolled and extruded aluminium products decreased by 10 per cent from a year earlier to 1.7 million tonnes in 2020. In December 2020, production of aluminium sheet stood at 84,840 tonnes in Japan, registering a drop of 5 per cent year-on-year. Output of aluminium extrusion came in at 59,564 tonnes, down by 3 per cent over the year. The 2020 output fell for a third straight year despite a gradual recovery towards the year’s end. Demand in the same year fell below 2009 levels, triggered by global recession due to the COVID-19 pandemic. Shipments of aluminium sheet and...
Constellium & Novelis jointly form non-profit organisation to advance aluminium auto body sheet application
On Wednesday, January 27, global aluminium rolled products manufacturer Constellium and American industrial aluminium company Novelis announced the launch of Alumobility, a non-profit organisation to provide innovative, implementation-ready solutions for advancing the adoption of aluminium automotive body sheet. It is expected to drive value for automakers and consumers by helping them fulfill the promise of a lighter, more efficient, and more sustainable mobility future through collaboration and partnership with global automotive manufacturers. To elevate the usage of lightweight, high-strength, sustainable aluminium in the future automobile industry, Alumobility has already developed technical studies addressing the next-generation aluminium door and an all-aluminium structural...
LME aluminium price recorded a plunge of US$21.5/t to settle at US$2003.5/t; SHFE price decreased to US$2289/t
Three-month LME aluminium lost 1.75 per cent to close at US$ 1,987.50 per tonne on Wednesday, January 27, with open interest falling to 739,000 lots. It is expected to trade between US$ 1,970-2,010 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased to US$ 2003.50 per tonne on Wednesday, January 27, following a hike from US$ 2011.50 per tonne to US$ 2025 per tonne on January 26. 3-months bid price and 3-months offer price also stood at US$ 2003.50 per tonne, down by US$ 14.50 per tonne from US$ 2018 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price hovered around US$ 2075 per tonne, registering a downfall of US$ 15 per tonne. The LME aluminium opening stock increased to 1428225 tonnes from 1419775 tonnes. Live Warrants totalled...
Glencore joins Aluminium Stewardship Initiative as new Production & Transformation member
Aluminium Stewardship Initiative has welcomed Glencore as a new Production & Transformation member, bringing the total number of ASI members to 154. Glencore is world’s one of the largest global diversified natural resource companies, a major producer, and a marketer of more than 60 responsibly-sourced commodities. It processes and sells products from a wide range of third-party aluminium and alumina producers. Glencore offers its products and services to industrial customers, such as those in the automotive, steel, power generation, battery manufacturing, and oil sectors. Glencore’s services also include financing and logistics to producers and consumers of commodities. The group of companies has around 160,000 employees, including contractors. On becoming ASI’s new Production and...
UK aluminium industry to witness production shortfall and plant closures if flat rate deposit return scheme is adopted
The prosperous aluminium industry in the United Kingdom may see a shortfall in annual production by about 4.7 billion units and also the plant closures if a flat rate deposit return scheme (DRS) is adopted, according to Aluminium Packaging Recycling Organisation’s (Alupro) analysis on the implications of a poorly designed national scheme. Alupro has reportedly launched a report today, on January 27, analysing the environmental and economic effects of a flat rate scheme versus a variable rate deposit fee. The report has been developed in partnership with independent think-tank London Economics, alongside experts from across the UK packaging sector. The long-awaited DRS scheme is expected to come into effect in 2023, aiming at tackling plastic pollution, increasing recycling rates,...
Hindalco increases its aluminium ingot price to nearly INR170,000/t in line with LME aluminium price surge
Hindalco Industries Limited expanded its aluminium ingot and aluminium products prices for the second time in a row, with effect from Tuesday, January 26. Hindalco’s aluminium ingot price is currently standing at INR 169,750 per tonne, up by INR 2,250 per tonne from INR 167,500 per tonne on January 21. Hindalco’s aluminium wire rod price has also been raised by INR 2,250 per tonne from INR 178,600 per tonne on January 21 to INR 180,850 per tonne on January 26. The company’s aluminium billets price has come in at INR 176,850 per tonne compared with INR 174,600 per tonne about a week ago. Hindalco Industries Limited links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which after January 21 climbed to US$ 2025...
Alumina production in East & Central Europe sees a hike of 7.5% Q-o-Q in Q4 2020, but declines in West Europe by 1.2%
Alumina production in East & Central Europe improved 14,000 tonnes or 3.48 per cent month-on-month in December 2020 to 416,000 tonnes. The output in November was down by 10,000 tonnes or 2.43 per cent from 412,000 tonnes in October to 402,000 tonnes. Total production in the fourth quarter came in at 1.230 million tonnes, up 7.52 per cent quarter-on-quarter from 1.144 million tonnes and 6.77 per cent over the year from 1.152 million tonnes. On a year-on-year basis, East & Central Europe’s alumina production in December 2020 stood up by 5.58 per cent from 394,000 tonnes. In the entire year of 2020, alumina production in East & Central Europe totalled 4.597 million tonnes, 3.73 per cent higher than 4.447 million tonnes a year ago. In West Europe, alumina production grew 20,000 tonnes or 4.39...
