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 climbed $25/t to settle at $1905/t after a plunge on the previous day; SHFE price surged to $2399/t
Three-month LME aluminium rose 0.31 per cent to close at US$ 1,917 per tonne on Wednesday, November 11, with open interest rising to 749,000 lots. It is expected to trade between US$ 1,890-1,940 per tonne today. Both LME aluminium cash (bid) price and LME official settlement price recorded a surge on Wednesday, November 11, from US$ 1880 per tonne to US$ 1905 per tonne following a downfall on the previous day. 3-months bid price and 3-months offer price stood at US$ 1923.50 per tonne, growing by US$ 23.50 per tonne from US$ 1900 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1964.50 per tonne versus US$ 1942.50 per tonne on Tuesday, November 10. The LME aluminium opening stock further decreased further from 1425450 tonnes to 1419225 tonnes. Live Warrants hovered at...
UAE’s aluminium crude metal and alloys exports to the US soared in August 2020 to 33,700 tonnes
The United Arab Emirates’ aluminium crude metal and alloys exports to the US soared by 358.5 per cent month-on-month in August 2020 to come in at 33,700 tonnes, found the US Geological Survey’s latest data. This hike marks the second consecutive month of increase in the UAE’s aluminium crude metal and alloys exports to the US. In July 2020, the aluminium semis exports from the UAE to the US were 7,350 tonnes, reflecting an increase of 17.22 per cent from 6,270 tonnes in June. In May, the UAE had supplied 27,200 tonnes of aluminium semis to the US, meaning the exports in June fell sharply by 76.95 per cent month-on-month. On a year-on-year calculation, the United Arab Emirates’ aluminium crude metal and alloys exports to the US in August 2020 stood down by 31.13 per cent from 25,700...
Chalco’s Huasheng alumina refinery starts its second production line estimating to reach 100,000t output in Nov 2020
Chalco’s Huasheng alumina refinery at Fangchenggang Port in Guangxi has begun operations on its second production line, which will add 1 million tonnes per annum of alumina capacity to an already oversupplied market, said sources to Fastmarkets on Monday, November 9. “I heard their second operation line was ready for production and they began putting raw material into the newly-built operation line in late October,” said one market participant familiar with the update. With the beginning of operations on Huasheng’s second production line, the refinery is estimated to reach 100,000 tonnes of output this month, said sources. Huasheng refinery came online in August 2020 and started trial production at one of its two production lines on September 10, following securing a license for a...
MAAN Aluminium reports 7.01% hike in profit Y-o-Y to INR 3.36 crore in Q2FY21; Sales decline by 43.1%
India-based aluminium extrusion producing company MAAN Aluminium has reported the financial results of the September quarter 2020 revealing that its net profit increased by 7.01 per cent year-on-year from INR 3.14 crore to INR 3.36 crore, despite the decline in sales by 43.09 per cent to INR 93.15 crore as against INR 163.67 crore during the same quarter last year. MAAN reported that its total unaudited assets (non-current and current) stood at INR 119.56 crore as of September 30, 2020. Equity stood at INR 55.1 crore, while liabilities (non-current and current) at INR 64.46 crore. MAAN’s income in the September quarter stood at INR 93.78 crore, up by 85 per cent from INR 50.6 crore quarter-on-quarter but down by 43.13 per cent from INR 164.89 crore year-on-year. Total income of the...
A00 aluminium ingot price soars by RMB170/t to stand at RMB15,350/t, Aluminium alloy (A356) price climbs by RMB200/t
A00 aluminium ingot price has soared by RMB 170 per tonne to stand at RMB 15,350 per tonne on Wednesday, November 11, marking the fourth consecutive day of rising, according to the Shanghai Metals Market data. The average prices are expected to range between RMB 15,330-15,370 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne, down by RMB 20 per tonne from the previous day. In Foshan, the primary aluminium ingot price has increased the highest by RMB 230 per tonne to come in at RMB 15,350 per tonne, followed by the hike in Hangzhou by RMB 180 per tonne to RMB 15,360 per tonne, learned SMM. In Chongqing, A00 aluminium ingot price has surged by RMB 175 per tonne to RMB 15,285 per tonne and that in Wuxi and Tianjin has hiked by RMB 170 per tonne to stand at...
US aluminium scrap exports to Korea down by 3.25% M-o-M but up 2.59% Y-o-Y in August 2020
The United States aluminium scrap exports to the Republic of Korea dipped slightly in August 2020, the third largest destination for the US aluminium scrap exports. The latest data from the US Geological Survey shows the United States supplied 23,800 tonnes of aluminium scrap to Korea in August 2020, compared with 24,600 tonnes in July. This means the exports dropped by 800 tonnes or 3.25 per cent month-on-month in August. The exports in July grew by 3,000 tonnes or 12.20 per cent from 21,600 tonnes in June. In May, the United States exported 22,300 tonnes of aluminium scrap to Korea, meaning the exports in June plunged by 3.14 per cent month-on-month. On a year-on-year basis, the United States aluminium scrap exports to the Republic of Korea in August 2020 stood up by 600 tonnes or 2.59...
EU levies $4 billion tariffs on US goods and services as part of Boeing-Airbus dispute
On Monday, November 9, the European Union announced that it would go ahead with its $4 billion tariff plans on the United States goods and services as part of the long-running illegal aid for plane maker Boeing. This decision is the latest twist in the 16-year trade battle over aircraft subsidies that turned increasingly sour under the protectionist instincts of the US President Donald Trump. The EU’s top trade official Valdis Dombrovskis said ahead of a virtual EU trade ministers meeting said “The US imposed tariffs following the WTO ruling in the Airbus case. Now, we have a WTO ruling also in our Boeing case, allowing us to impose our tariffs and that’s what we are doing.” The WTO had ruled that Boeing was given an unfair edge over Airbus by tax breaks from Washington State, where...
Passenger Vehicle sales in India witness a decline of 8.8% Y-o-Y to 249,860 units in October 2020: FADA
In October 2020, passenger vehicle (PV) registrations saw a year-on-year drop of 8.8 per cent to 249,860 units, according to the data shared by the Federation of Automobile Dealers Association (FADA). Total vehicle registrations at regional transport offices (RTOs), which are proxies for sales, fell by 23.99 per cent to 1,413,549 units year-on-year as the industry continued to battle the pandemic. New launches were in demand in the passenger vehicle segment, while entry-level motorcycles witnessed a lean consumption in the two-wheeler segment. There was a supply-side mismatch, resulting in a limited stock of high selling items at most of the passenger vehicle dealers. This, coupled with lower discounts compared to the last festive season, played the spoilsport, FADA showed. Vinkesh...
India to seek early restoration of GSP trade privilege from Joe Biden demanding for higher tariffs rollback on aluminium
Settling the much-awaited India-America trade deal is likely to be one of New Delhi’s top priorities as soon as Joe Biden’s administration in Washington DC takes over as the New President of the United States. According to the report, New Delhi is all set to speed up its negotiation with Biden Administration for early restoration of the Generalized System of Preference (GSP) trade privilege for India, which was withdrawn by the United States former President Donald Trump in June 2019 after determining that India did not assure the latter to provide "equitable and reasonable access" to its markets. The Generalized System of Preference is the largest and oldest US trade preference programme designed to promote economic development by allowing duty-free entry for thousands of products from...
LME aluminium price exceeds $1900/t surging by 1.14% over the weekend; SHFE slips by $6/t to $2288/t
Three-month LME aluminium rose 0.05 per cent to close at US$ 1,902 per tonne on Monday, with open interest falling to 746,000 lots. It is expected to trade between US$ 1,880-1,940 per tonne today. LME aluminium cash (bid) price and LME official settlement price continued to increase for the third day in a row from US$ 1891.50 per tonne to US$ 1913 per tonne on Monday, November 9. 3-months bid price and 3-months offer price stood at US$ 1930 per tonne, growing by US$ 26 per tonne from US$ 1904 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1974 per tonne versus US$ 1948 per tonne on Friday, November 6. The LME aluminium opening stock further decreased from 1437675 tonnes to 1431575 tonnes. Live Warrants hovered at 1246475 tonnes, while Cancelled Warrants 185100 tonnes....
China’s primary aluminium production increases by 4.5% M-o-M to 3.25 MT in October 2020: SMM
In October 2020, China’s primary aluminium output recorded a month-on-month growth of 4.50 per cent to stand at 3.25 million tonnes, compared with 3.11 million tonnes in September, found the Shanghai Metals Market. On a year-on-year basis, China’s primary aluminium production in October stood higher by 8.5 per cent. As of the end of October, the country’s primary aluminium capacity in operation was 38.67 million tonnes per annum among 44.18 million tonnes of existing capacity. Operating rates across Chinese primary aluminium producers stood at 87.5 per cent in October. The daily average output rose 1,000 tonnes from September to 105,000 tonnes, with new capacities in southwest China and Inner Mongolia coming online and some producers in Liaoning and Qinghai restoring production. During...
China’s alumina production exceeds 6 MT in October 2020 surging by 4.23% M-o-M: SMM
According to the Shanghai Metals Market, China’s alumina production in October 2020 came in at 6.16 million tonnes, including 5.95 million tonnes of metallurgical-grade alumina. This marked an increase of 4.23 per cent from 5.91 million tonnes of output in September 2020. The average daily output in October climbed 1 per cent month-on-month from 189,000 tonnes to 192,000 tonnes. On a yearly basis, the daily output was up by 5.95 per cent. The total production of metallurgical-grade alumina in the first ten months of 2020 amounted to 55.74 million tonnes 3.23 per cent lower over the year. As of early October, the operating capacity of metallurgical-grade alumina stood at 68.85 million tonnes per year. SMM expects the production of metallurgical-grade alumina to decline in November 2020 at...
US aluminium semis imports from Canada decline in Aug’20 for the third month in a row to 205,000 tonnes
In August 2020, the United States imported 205,000 tonnes of aluminium crude metal and alloys from Canada, extending decline for the third month in a row, albeit marginally by 1,000 tonnes or 0.49 per cent, found the US Geological Survey. The United States aluminium semis imports from Canada in July were down by 18,000 tonnes or 8.04 per cent from 224,000 tonnes in June to 206,000 tonnes. In May, the US imported 230,000 tonnes, meaning the country’s aluminium semis imports from Canada in June stood lower by 6,000 tonnes or 2.61 per cent M-o-M. On a year-on-year basis, the United States aluminium crude metal and alloys imports from Canada in August 2020 were up by 194,300 tonnes. The United States aluminium semis imports from Canada in the first eight months of 2020 totalled 1.68 million...
Rossinavi delivers aluminium, full-custom superyacht EIV to its US client
Italian shipyard Rossinavi has reportedly delivered a 48.08 metre, full-custom superyacht – EIV to its client in the United States. Featuring fast-displacement aluminium hull, EIV is capable to cross the oceans and cruising in shallow waters at a speed of 15km. It has a maximum speed of 19km and a range of 3,600nm. The superyacht was introduced by broker Dean Anthony of Allied Marine’s Superyacht Division. Previously known as Project Vector 50, EIV is a fusion of Rossinavi’s interior department and exterior designer Team for Design, Enrico Gobbi. The vessel will be based in the United States and Caribbean waters; hence its electrical systems are made to the US standards. “The Vector project comes in a 50m version under the name EIV , the "little sister" of Utopia IV. The success of this...
A00 aluminium ingot price in China opens the week higher at RMB15,160/t; Aluminium fluoride price soars by RMB350/t
A00 aluminium ingot price in China has begun the week with a surge of RMB 70 per tonne to stand at RMB 15,160 per tonne, as of Monday, November 9, found the Shanghai Metals Market. The average prices are expected to range between RMB 15,140 per tonne and RMB 15,180 per tonne, with spot contract to be traded at a premium price of RMB 40-80 per tonne, down by RMB 20 per tonne from the previous day. Linyi has seen the highest rise today of RMB 105 per tonne to come in at RMB 15,170 per tonne, followed by the hike of RMB 100 per tonne in Foshan to RMB 15,100 per tonne. In Shenyang, primary aluminium ingot price has increased by RMB 95 per tonne to RMB 15,165 per tonne, while that in Tianjin and Chongqing has grown by RMB 90 per tonne and RMB 85 per tonne to peg at RMB 15,140 per tonne and RMB...
US benchmark A380.1 secondary aluminium alloy price stands 23-months high at 88-91 cents per lb
The benchmark A380.1 secondary aluminium alloy price in the United States has increased for the 13 th consecutive week to reach 23-months high, buoyed by rising raw material costs and strong demand from automotive die-casters. Fastmarkets assessed aluminium alloy A380.1 was delivered Midwest at 88-91 cents per lb on Thursday, November 5, up by 2.9 per cent from 86-88 cents per lb in the previous week’s assessment and the highest since 89-90 cents per lb in late November 2018. Deals were heard across the current assessment range on Thursday, and producers continued to raise prices. “We remain busy and we will continue to push quotations higher to meet demand, overcome freight increases and to allow for higher raw material costs,” one producer said. “There is a national shortage of truck...
India’s aluminium scrap imports from US extend growth by 24.4% M-o-M in August 2020
India’s aluminium scrap imports from the United States continued to increase in August 2020, according to the latest data released the US Geological Survey. The imports in August grew by 5,300 tonnes or 24.42 per cent from 21,700 tonnes in July to 27,000 tonnes. In June 2020, India’s aluminium scrap imports from the US were 12,800 tonnes, meaning the imports in July increased by 8,900 tonnes month-on-month. The imports in June were also up month-on-month from 4,190 tonnes in May 2020. On a year-on-year basis, India’s aluminium scrap imports from the US in August this year stood up by 2,400 tonnes or 9.76 per cent from 24,600 tonnes. India’s total aluminium scrap imports from the US in the first eight months of 2020 (January-August) amounted to 172,000 tonnes, 1.71 per cent less than...
US primary aluminium production declines to 80,000 tonnes in August’20; Secondary recovery stands up by 2,000 tonnes
According to the latest report released by the US Geological Survey, domestic primary aluminium production in the United States stood at 80,000 tonnes in August 2020, slightly down by 2,000 tonnes or 2.44 per cent from 82,000 tonnes in the month earlier. The average daily production came in at 2,580 tonnes, 2.64 per cent lesser than 2,650 tonnes in July 2020 and 11 per cent lesser than in August 2019. Total aluminium recovered from scrap in August 2020 was 270,000 tonnes, up by 2,000 tonnes from 268,000 tonnes in July 2020. However, on a year-on-year basis, the US aluminium recovery from scrap in August stood down by 9 per cent. Of 270,000 tonnes, 144,000 tonnes were recovered from new scrap and the remaining 126,000 tonnes from old scrap. The United States spot market price of primary...
