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 rallied this week from $1834.5/t to $1891.5/t; SHFE closed higher at $2263/t
On Monday, November 2, three-month LME aluminium climbed 1.24 per cent to close at US$1,871 per tonne. On November 3 & 4, the price grew further by 1.18 per cent and 0.82 per cent to settle at US$ 1,893 per tonne and US$ 1908.50 per tonne, respectively. However, on Thursday, November 5, three-month LME aluminium fell 0.84 per cent to close at US$ 1,892.50 per tonne. LME aluminium cash (bid) price and LME official settlement price displayed an uptrend this week during November 2-6 from US$ 1834.50 per tonne to US$ 1891.50 per tonne, with an intermittent fall on Wednesday, November 4. Starting the week on Monday, November 2, at US$ 1834.50 per tonne, both LME aluminium cash (bid) price and LME official settlement price soared to US$ 1891 per tonne on Tuesday, November 3. On November 4, the...
US aluminium scrap exports to China decline for the second consecutive month in July 2020 to 8,500 tonnes
The United States aluminium scrap exports to China fell sharply in July 2020 by 13,100 tonnes or 60.64 per cent month-on-month to stand at 8,500 tonnes, marking the second consecutive month of decline, according to the US Geological Survey. In June 2020, the United States aluminium scrap exports stood 6,800 tonnes lower from 28,400 tonnes in May to 21,600 tonnes. In April, the United States supplied 26,600 tonnes of aluminium scrap to China, meaning the exports in May stood higher by 6.76 per cent month-on-month. On a year-on-year calculation, the United States July aluminium scrap exports to China declined by 99.73 per cent from 31,300 tonnes. The total scrap exports from the US to China during the first seven months of 2020 (January-July) came in at 125,000 tonnes, down by 51 per cent...
Outlook to China’s heating season 2020-21 impact on prebaked anode industry
The Shanghai Metals Market has analysed the impact of the upcoming heating season on China’s prebaked anode industry, based on the relevant policies and specific measures in 2+26 cities. 2020 is the last year of China’s three-year action plan to fight air pollution, and many regions in northern China is about to enter the heating season of 2020-21. At the end of June 2020, the general office of the Ministry of Ecology and Environment of China issued a technical guide for key industries to reduce emissions in heavily polluted weather, stipulating specific emission reduction measures for enterprises with different grades in key sectors. Currently, there are 49 prebaked anode producers operating in Beijing-Tianjin-Hebei and its adjoining areas and the Fenwei Plain, with a total equipment...
India has a long way to match the global average consumption of aluminium in auto industry: Vedanta Aluminium’s Ajay Kapur
Ajay Kapur, CEO - Aluminium & Power at Vedanta Limited, has pointed out in a recent interview that transportation accounts for the largest share of aluminium consumption at 27 per cent across the globe. The use of aluminium in the auto sector surged after the oil crisis in 1970s, triggering fuel economy and leading to the replacement of heavy steel parts with lighter aluminium substitutes. From 35kg per car in the 1970s, the use of aluminium today is 160kg on an average. He says experts project average aluminium content in a car to increase to 250kg by 2025. According to Kapur, the domestic Indian market has a long way to go on the road to match its global counterparts in aluminium consumption. The overall per capita aluminium consumption in India is 2.7kg versus the global average of...
LME aluminium price closed higher at $1885.5/t amidst decreasing opening stock; SHFE climbed to $2263/t
Three-month LME aluminium fell 0.84 per cent to close at US$ 1,892.50 per tonne on Thursday, November 5, with open interest rising to 748,000 lots. It is expected to trade between US$ 1,870-1,910 per tonne today, November 6. LME aluminium cash (bid) price and LME official settlement price increased from US$ 1,877 per tonne to US$ 1,885.50 per tonne on Thursday, November 5, following a downfall on the previous day. 3-months bid price and 3-months offer price stood at US$ 1,896 per tonne, growing by US$ 10.50 per tonne from US$ 1,885.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1,938.50 per tonne versus US$ 1924 per tonne on November 4 The LME aluminium opening stock decreased from 1450025 tonnes to 1443950 tonnes. Live Warrants hovered at 1220375 tonnes, while...
Bosnian aluminium producer Aluminij resumes production after a 15-months pause: Source
Bosnia’s ailing aluminium producer Aluminij has reportedly recommenced production after a halt for 15-months, thanks to an agreement with an Israeli-Chinese partner signed earlier this year, reported a local media. In April 2020, Israel’s M.T. Abraham Group and its partners China Machinery Engineering Corporation (CMEC) and China Nonferrous Metal Industry’s Foreign Engineering & Construction Co., Ltd. (NFC) signed an agreement with Aluminij for a long-term lease of the Bosnian company’s production assets, an initial step towards the restart of the production. The official start of production is announced in the beginning of November, but the official logs started rolling out earlier, public broadcaster BHRT said last week. In the beginning of October, around 82 workers started preparing...
Hindalco’s aluminium ingot price increases for the third time in a row to stand at INR161,750/t w.e.f. Nov 4
Hindalco Industries Limited further increased the prices of its aluminium ingot and aluminium products on November 4, marking the third consecutive hike since October 31. The price of Hindalco’s aluminium ingot is now standing at INR 161,750 per tonne after an increase of INR 4,750 per tonne or 3.03 per cent from INR 157,000 tonnes, as of November 3. This indicates an expansion in the growth of Hindalco’s aluminium ingot price compared with the rise of INR 1,750 per tonne on the previous day. Hindalco’s aluminium billets price has come in at INR 168,850 per tonne, up by INR 4,750 per tonne as well from INR 164,100 per tonne. The company’s aluminium wire rods price is at INR 172,850 per tonne, with effect from November 4, registering a growth of 2.83 per cent from INR 168,100 per tonne....
Primary aluminium inventories in China fall sharply by 34,000 tonnes on November 5, 2020
According to the Shanghai Metals Market, social inventories of primary aluminium ingots have shrunk sharply this week, ending on Thursday, November 5, due to robust downstream demand and limited arrivals of stocks. Data shows the inventories have decreased by 34,000 tonnes across eight major consumption areas, including SHFE warrants, to stand at 654,000 tonnes. This marks the third consecutive week of decline. Last week, on October 29 , primary aluminium inventories declined by 7,000 tonnes to stand at 688,000 tonnes, following a decrease of 24,000 tonnes in the week ago, on October 22, to 695,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: Wuxi and Gongyi have seen the highest plunge in primary aluminium inventories...
NALCO further increases its aluminium ingot price by INR4,500/t with effect from November 4
National Aluminium Company Limited (NALCO) has further increased the prices of its aluminium ingot and aluminium products with effect from Wednesday, November 4, 2020. The price of NALCO’s aluminium ingot has been raised significantly by INR 4,500 per tonne or nearly 3 percent from INR 158,150- 161,650 per tonne on November 1 to INR 162650-166150 per tonne. NALCO’s aluminium billets price has come in at INR 166100- 168750 per tonne, registering an increase of INR 4,500 per tonne as well from INR 161,600-164,250 per tonne. NALCO’s aluminium wire rods price is now at INR 166150-170500 per tonne versus INR 161650- 166000 per tonne on November 1. NALCO links the prices of its aluminium products to the three-month futures of aluminium on the London Metal Exchange, which since the beginning of...
Metallica Minerals sells its shares in Urquhart Bauxite Project to Clear Logistics Australia Pty Ltd
According to a recent report, Metallica Minerals Limited has entered into a sale agreement with Clear Logistics Australia Pty Ltd, a private company with experience in bauxite, heavy mineral sand and industrial sand, and gravel operations. The latter will purchase Metallica’s subsidiary company Oresome Australia Pty Ltd, a 50% joint venture partner in the Urquhart Bauxite Project near Weipa in Far North Queensland. Some of the key terms of the sale agreement include: 1) First instalment of $50,000 should be payed now, while a further $50,000 should be payed within 30 days of the signing of the Share Sale Agreement. 2) A milestone payment of $100,000 should be done upon the shipment of the first 1 million dry tonnes of bauxite and an additional $100,000 upon the shipment of the second 1...
A00 aluminium ingot price drops for the second day in a row to RMB15,080/t; Australian alumina FOB price dips by $2/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has extended its downfall on November 5, albeit lower than the previous day, to stand at RMB 15,080 per tonne. The price today has fallen by RMB 10 per tonne compared with the decline of RMB 60 per tonne on November 4. The average A00 aluminium ingot price today is expected to range between RMB 15,060 per tonne and RMB 15,100 per tonne, with spot contract to be traded at a premium price of RMB 80-120 per tonne, down by RMB 60 per tonne from the day earlier. Except in Foshan, Linyi, and Tianjin, A00 aluminium ingot price has declined across all major cities in China. In Shenyang, the price has dwindled by RMB 40 per tonne to stand at RMB 15,070 per tonne, while that in Hangzhou and Chongqing has plunged by RMB 20...
LEVC starts production of its new electric van VN5 using 400 individual pieces of aluminium
On Tuesday, November 3, LEVC (London Electric Vehicle Company) announced that it started the production of its second product line - electric van VN5. VN stands for van and 5 for the volume of the cargo area. The company said that it had been designing, engineering and manufacturing the car at its award-winning production plant in Antsy Coventry – the UK’s only dedicated electric vehicle factory. VN5 is the first electric van model from LEVC, the maker of the world’s most iconic taxi. The company has followed the same technical and functional nomenclature strategy for VN5 as it used for its first product line – TX (electric taxi). VN5 features lightweight aluminium construction, bold and distinctive designs, and eCity technology. LEVC expects its new electric van to account for around 70...
Chalco to sell 135,000tpa aluminium smelting capacity quota to Yunnan Aluminium: Source
Aluminum Corporation of China Limited, popularly known as Chalco, announced on Tuesday, November 3, that it would sell a smelting capacity quota of 135,000 tonnes per annum to Yunnan Aluminium. Like Chalco, Yunnan Aluminium is also a subsidiary of state-owned Chinalco, the world’s biggest aluminium producer by capacity. Yunnan Aluminium topped Chalco’s auction for the quota by bidding RMB 538.65 million ($80.64 million), excluding tax, according to Reuters report. Yunnan Aluminium, based in southwest China’s Yunnan province, said that winning the quota would “help accelerate implementation of the company’s integrated hydropower and aluminium development strategy and further enhance competitiveness.” Aluminium capacity transfers between regions are allowed in China, and it is the second...
Sarmin Bauxite sells 75% of its shares to Lindian Resources in exchange for 30.67 million new Lindian shares
Julien Balkany, the Vice-Chairman of the Board of Directors at Sarmin Bauxite Limited, confirmed that it entered into a definitive investment agreement with Lindian Resources of Australia on September 23, 2020. The agreement represents the sale of 75 per cent of shares of Sarmin Bauxite to Lindian Resources. In return, Sarmin Bauxite will receive an allotment of 30.67 million new Lindian shares. Sarmin Bauxite holds the Lelouma bauxite permit with significant resources, located in the Republic of Guinea, West-Africa. With the public announcement of the news on November 3, Lindian Resources saw its shares closed 40 per cent higher on the Australian Securities Exchange. The company even saw its shares surged over 60 per cent at some point during the trading session. Lindian Resources is...
NALCO increases its aluminium ingot price for the third time in a row by INR600/t w.e.f. November 1
National Aluminium Company Limited (NALCO) has extended the growth of its aluminium ingot and aluminium product prices for the third time in a row, albeit lower than the previous times, with effect from November 1. NALCO has raised its aluminium ingot price by INR 600 per tonne on November 1, compared with the hike of INR 3,400 per tonne on October 17. Hence, the company’s aluminium ingot price is now hovering at INR 158,150- 161,650 per tonne. With the latest hike, NALCO’s aluminium billets price has come in at INR 161,600-164,250 per tonne, registering an increase of INR 600 per tonne from INR 161,000- 163,650 per tonne. NALCO’s aluminium wire rods price is now at INR 161650- 166000 per tonne versus INR 161,050-165,400 per tonne as of October 17. Like any Indian aluminium producers,...
LME aluminium price soared to $1891/t marking the third consecutive day of hike; SHFE plunged to $2226/t
Three-month LME aluminium climbed 1.18 per cent to close at US$ 1,893 per tonne on Tuesday, November 3, with open interest rising to 742,000 lots. It is expected to trade between US$ 1,870-1,910 per tonne on November 4. LME aluminium cash (bid) price and LME official settlement price increased for the third day in a row on Tuesday, November 3. The prices jumped significantly by US$ 56.50 per tonne from US$ 1,834.50 per tonne to US$ 1,891 per tonne. 3-months bid price and 3-months offer price also stood at US$ 1,891 per tonne on November 3, growing by US$ 51.50 per tonne from US$ 1,839.50 per tonne on November 2. Dec 21 bid price and Dec 21 offer price came in at US$ 1,926 per tonne, an increase of US$ 44 per tonne from US$ 1,882 per tonne. The LME aluminium opening stock decreased from...
Outlook to China’s 2020-21 heating season impact on aluminium and alumina industries: SMM
Many northern regions in China are about to enter the heating season. This year is the final year of China’s three-year “Blue Sky” action plan. So, the Shanghai Metals Market has presented an analysis of the heating season on the aluminium and alumina industries based on relevant policies and specific measures issued in June 2020 by the Ministry of Ecology and Environment of China for Beijing, Tianjin and surrounding 26 cities. According to SMM, total 11 aluminium smelters are located in 2+26 city (Beijing-Tianjin-Hebei and surrounding areas + Fenwei Plain), which involves 9 cities in 4 provinces (Shanxi, Henan, Shandong and Shaanxi). The existing annual aluminium capacity in those 9 cities stands at 10.75 million tonnes, accounting for 24.8 per cent of China’s total existing annual...
Vedanta’s aluminium ingot price rises significantly by INR4,750/t with effect from November 3
Vedanta’s aluminium ingot and aluminium product prices have been raised significantly with effect from November 3, following back-to-back declines on October 28 and 30. The company has grown its aluminium ingot price by INR 4,750 per tonne or 3.16 per cent on November 3 from INR 150,250-163,250 per tonne on October 30 to INR 155,000-168,000 per tonne. Post the latest hike, Vedanta is now selling its aluminium wire rod at INR 162,500-170,000 per tonne versus INR 157,750-165,250 per tonne on October 30. This marks a growth of INR 4,750 per tonne as well. Vedanta’s aluminium billet price has come in at INR 163,000 per tonne, growing by 3 per cent from INR 158,250 per tonne on October 30. Vedanta links its aluminium product prices to the three-month futures of aluminium on the London Metal...
