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.
US aluminium semis imports rebounded to 74,500 tonnes in June 2020; Total imports in H1 edged lower by 40% Y-o-Y
According to the latest data shared by the US Geological Survey, the United States aluminium plates, sheets and bars imports rebounded to 74,500 tonnes in June 2020. In May, the country imported 68,500 tonnes, declining by 6,000 tonnes from April. The US imports in June saw an increase of 8.76 per cent month-on-month since the last hike in April from 23,300 tonnes in March to 74,500 tonnes. On a year-on-year basis, the US aluminium plates, sheets and bars imports in June 2020 shrank by 43.13 per cent from 131,000 tonnes. The United States aluminium semi-finished products imports in the first half of 2020 totalled 488,000 tonnes, down from 808,000 tonnes during the same period last year. In the second quarter, the United States aluminium plates, sheets and bars imports stood at 217,500...
LME aluminium price closed lower at $1744/t; SHFE aluminium plunges to $2117/t
The safe-haven dollar climbed to a four-week peak on Tuesday, September 8, led by gains versus sterling on renewed worries about Brexit and as risk appetite waned with a sell-off on Wall Street. Three-month LME aluminium rebounded from an intraday low of US$ 1,775 per tonne to close 0.14 per cent weaker at US$ 1,795 per tonne on Tuesday, and is likely to move between US$1,780-1,810 per tonne today. As of Tuesday, September 8, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1744 per tonne, declining by US$ 19 per tonne from US$ 1763 per tonne on September 7. 3-months bid price and 3-months offer price hovered at US$ 1783 per tonne versus US$ 1803.5 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1857.50 per tonne. The...
China’s alumina production records a mere growth of 1% to 5.97 million tonnes in August 2020
The latest data of Shanghai Metals Market showed that China’s alumina production in August 2020 stood at 5.97 million tonnes, including 5.76 million tonnes of metallurgical-grade alumina. This marked a slight growth of 1 per cent in comparison to the output of 5.7 million tonnes of metallurgical-grade alumina in July 2020. Increase in production at a few alumina refineries in Shanxi and commissioning of new capacities in south-west China contributed to the hike in August output. The daily average alumina output was also up by 1 per cent month-on-month and 3.41 per cent over the year to stand at 185,700 tonnes in August. The total production of metallurgical-grade alumina in the first eight months of the year amounted to 44.1 million tonnes, down by 5.35 per cent year-on-year. As of early...
China’s primary aluminium output up by 6.13% Y-o-Y to 3.19 million tonnes: SMM
According to the latest report revealed by the Shanghai Metals Market, China’s primary aluminium production recorded a rise of 6.13 per cent year-on-year to stand at 3.19 million tonnes in August 2020. As of the end of August, the country had 37.62 million tonnes of capacity in operation among 42.48 million tonnes per year of existing capacity. Operating rates across major Chinese primary aluminium producers stood at 88.6 per cent, owing to the commencement of new capacities in Yunnan and Sichuan. The daily average primary aluminium output rose 2,200 tonnes from July to 103,000 tonnes in August. During the first eight months of the year, China’s primary aluminium output totalled 24.32 million tonnes, up 3.19 per cent year-on-year, while consumption came in at 24.56 million tonnes after...
Metro’s shipment from Bauxite Hills Mine continues to increase amidst slow mining activities
Even amidst the slowdown in mining activities at the Bauxite Hills Mine, Queensland, in the wake of the COVID-19 pandemic, Metro Mining Limited has not witnessed any dive in its shipments. Rather the company’s shipments have continued to grow, having August shipping rates returned to the levels recorded prior to July. Metro shipped 520,000 wet metric tonnes of bauxite in August, up by 64,000 tonnes from 456,000 wet metric tonnes in July. So, the total amount shipped year to date comes in at 2.23 million wet metric tonnes. In the June quarter, Metro mined 1.42 million wet metric tonnes. Metro stated the mine’s 2020 operational results demonstrated the capability of the Bauxite Hills Mine operating at a four million tonnes a year rate using its existing plant and equipment. Metro managing...
Alcoa to work with FYI Resources to advance high purity alumina development
FYI Resources has reportedly signed a memorandum of understanding (MoU) with Alcoa of Australia to advance the development of high purity alumina (HPA) refining technologies. FYI has already started developing a process for producing high-quality HPA in the face of a limited supply of the product. The new agreement between Alcoa and FYI Resources is supposedly seeing the possibility of commercialising HPA refining project and establishing offtake customers into HPA markets. Having both the company’s technical capabilities and capacities in producing alumina, the agreement is also expected to lead to a joint venture in the future. FYI managing director Roland Hill is pleased to have signed an agreement with Alcoa, one of the world’s most successful alumina producers, to potentially develop...
Average alumina spot price declines for the second consecutive day to RMB2346/t; A00 aluminium ingot price remains muted
Average alumina spot price in China has recorded a plunge from RMB 2,354 per tonne to RMB 2,346 per tonne, as of Tuesday, September 8, found the Shanghai Metals Market. This marks the second consecutive day of decline following a week-long restraint at RMB 2,360 per tonne during August 28-September 4. Among the major Chinese cities, Henan and Shanxi have witnessed a drop today in average alumina spot price of RMB 10 per tonne to stand at RMB 2,350 per tonne and RMB 2,340 per tonne, respectively. In Shandong, alumina spot price has remained restrained at RMB 2,335 per tonne, and so in Guizhou and Guangxi at RMB 2,355 per tonne. Imported alumina price has remained muted today after a downfall on the previous day from RMB 2,415 per tonne to RMB 2,375 per tonne. Australian alumina FOB price...
Chinese aluminium producers operating rates recovered 0.2 percentage point last week; September looks more optimistic
In the week earlier, operating rates across major aluminium processors in China climbed 0.2 percentage point on a weekly basis to stand at 77.4 per cent. Orders from automobile, construction, electronics, and packaging sectors improved, while orders at extrusion, wire, and cable producers did not post much significant change. Producers of aluminium plate/sheet, strip, foil, primary, and secondary aluminium alloy are optimistic about demand in September, and therefore, expect to boost operating rates. In the week ago, export orders of aluminium plate/sheet and strips improved slightly, while domestic demand remained as the main driver. Orders for construction plates and PS printing plates improved but can stock increased at a much slower rate in comparison with mid-August. Aluminium foil...
Indian auto comp industry must upskill employees to ensure smooth transition to electric vehicles: Amitabh Kant
Amitabh Kant, CEO of the policy think tank NITI Aayog, has pointed out that upskilling the existing workforce in the Indian auto component sector would be an ideal way to ensure a smooth transition to electric vehicles. As far as the technical advancements are concerned required for the adoption of electric mobility, the workers should be trained in new systems and technologies, said Mr Kant, while addressing the inaugural session of the 60 th Annual Convention of the Automotive Component Manufacturers Association (ACMA). "There is a need to create jobs in the Indian auto component sector with various skill development programmes to cater to the new technologies like electric vehicles (EVs)," said Mr Kant. He said for EVS with only 20 moving parts compared to 2,000 moving parts in ICE...
Shanghai Huafon Aluminium launching IPO on Shanghai Stock Exchange
According to a recent report, Shanghai Huafon Aluminium (601712) will start trading on the Shanghai Stock Exchange – Main Board from Monday, September 7, at a public offering price of RMB 3.69 per share, to raise RMB 921.13 million. Its initial listing shares will account for 25 per cent of the total outstanding shares. The company’s initial price-to-earnings ratio stands at 22.93. As per the report, Industrial Securities acted as the lead underwriter and sponsor for the IPO. Earlier, Shanghai Huafon Aluminium said its IPO was 1,145 times oversubscribed. From 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. On the very first day of listing, Huafon’s IPO is expected to hit the limit of 44 per cent increment. For subsequent 30-day...
LME aluminium price increased by $9.5/t after three consecutive days of decline, SHFE hiked to $2135/t
The US dollar consolidated gains on Friday but was set for its biggest weekly rise in 2-1/2 months as an overnight drop in high-flying US technology stocks fuelled a bout of risk aversion in global markets. Three-month LME aluminium plunged to an intraday low of US$ 1,773.50 per tonne before wiping out all earlier losses to end 0.9 per cent firmer at US$ 1,792 per tonne on Friday. It is likely to trade between US$1,760-1,820 per tonne today. As of Friday, September 4, both LME aluminium cash (bid) price and LME official settlement price increased to US$ 1753 per tonne, following incessant declines from US$ 1781.50 per tonne to US$ 1743.50 per tonne in the three previous days. 3-months bid price and 3-months offer price hovered at US$ 1789 per tonne compared to US$ 1779 per tonne on...
US aluminium scrap exports decline by 14% to 396,000 tonnes in Q2 2020, exports in June increase by 23% M-o-M
According to the latest data shown by the US Geological Survey of June 2020, the United States in the said month export 150,000 tonnes of aluminium scrap, bringing the total scrap exports in the second quarter of the year to 396,000 tonnes. In the first quarter (January-March), the United States exported 458,000 tonnes of aluminium scrap. This means export in the second quarter saw a decline of 62,000 tonnes or 13.54 per cent over the quarter. The United States aluminium scrap exports in June increased by 28,000 tonnes or 22.95 per cent from 122,000 tonnes in May. In April, the export volume stood at 124,000 tonnes, meaning the export in March dropped by 2,000 tonnes or 1.61 per cent. On a year-on-year basis, the US aluminium scrap exports in June 2020 stood lower by 9,000 tonnes or 5.66...
LME aluminium price decreased this week from $1781.5/t to $1753/t; SHFE edged lower to $2099/t
On Monday, August 31, the US dollar hit a more than two-year low and a fourth straight month of losses in the wake of the US Federal Reserve’s policy shift on inflation. It was down by 1.24 per cent for the month, marking its worst August in five years and the longest run of monthly losses since the summer of 2017. However, on Wednesday, September 2, the US dollar bounced off two-year lows as US data pointed to a firm manufacturing activity. Three-month LME aluminium on Tuesday, September 1, rose by 1.14 per cent to end at US$1,818.5 per tonne, while on Thursday, September 3, it slipped 0.81% to end at US$1,776 per tonne, with open interest decreasing 2,033 lots to 777,000 lots. LME aluminium cash (bid) price and LME official settlement price displayed a bullish trend throughout this...
European Commission recognizes Bauxite as ‘Critical Raw Materials’
The European Commission has reportedly included bauxite in the list of Critical Raw Materials for 2020 and shared an action plan and a foresight study on it for strategic technologies and sectors from the 2030 and 2050 perspectives. The inclusion of bauxite in the European Commission’s Critical Raw Materials list signifies the role of the aluminium industry in supporting Europe’s transition to a green and digital economy. Thanks to its unique properties, aluminium has become the material of choice for clean technology producers in applications like renewable energy, batteries, electricity systems, resource-efficient packaging, energy-efficient buildings, and clean mobility. Study shows that despite the expeditious growth in recycling, there is a need for the production of primary...
EEPC urges Commerce Minister to continue MEIS Scheme with no limit on claims for COVID hit aluminium industry
Engineering Export Promotion Council (EEPC) wrote a letter to the Commerce Minister, on Thursday, September 3, urging the continuation of the MEIS Scheme with no limit on claims for aluminium exports. The Council thinks this to be the best way to retain competitiveness in the market and survive the current crisis. The letter was sent in wake of DGFT Notification, dated September 1, imposing a limit of INR 2 crore per IEC on total reward claims under MEIS for exports between September-December 2020. According to EEPC, this move would be a big setback for Indian aluminium exports, resulting in a struggle to remain globally competitive amidst the high incidences of unrebated taxes and duties, depressed demand for the metal, and crashed LME aluminium prices. The MEIS scheme has been there...
Hindalco undertakes measures to ensure sustainability & community development following red mud pond spillage incident
According to a recent report, Hindalco Industries Limited has taken a few significant steps to ward off incidents like industrial by-product bauxite residue spillage from the storage area that took place at Hindalco’s Muri alumina refinery in April 2019. The company has ensured the safety and well-being of the land, water, and people by undertaking a massive task of assessing the overall impact of the incident. Hindalco also put back the spilled residue within the boundary of the storage area by using hundreds of earth-moving machinery, and all this they completed before the onset of monsoon. The firm also ensured to complete the routing of collecting storm water to the river bypassing the Bauxite Residue Storage area and treatment of the soil in the land area where spillage had occurred....
Rusal’s Taishet anode plant to have SCHADE Technology for stockpiling and reclaiming of petroleum coke
United Company Rusal Plc (Rusal)’s new plant, to be commissioned in 2022 on 400 km east of Krasnoyarsk in Taishet in Russia, will reportedly have SCHADE technology. The Russian aluminium producer had first placed its order with SCHADE Lagertechnik GmbH at the end of 2019, for a wagon tippler and two Semi-Portal Reclaimers. This contract is an important milestone for SCHADE in terms of its growth in the metallurgy sector, which is rapidly emerging as one of the core focus industries. The Rusal Group has operations across five continents, with almost 60,000 employees. Its new plant in Taishet will supposedly produce anodes for aluminium manufacture using unprocessed petroleum coke, also referred to as green coke, a refinery by-product which is otherwise normally discarded. Rusal has chosen...
A00 aluminium ingot price plunges by RMB70/t to RMB14470/t, while input costs remain muted
According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a plunge of RMB 70 per tonne to stand at RMB 14,470 per tonne, as of Friday, September 4, following a build-up of 6,000 tonnes in primary aluminium inventories on Thursday, September 3. The average aluminium ingot prices today are expected to range between RMB 14,450 per tonne and RMB 14,490 per tonne, with spot contract to be traded at a premium price of RMB 40-80 per tonne, up by RMB 40 per tonne from the previous day. Tianjin has seen the highest decline in A00 aluminium ingot price of RMB 100 per tonne to RMB 14,480 per tonne, followed by a decrease of RMB 70 per tonne to RMB 14,530 per tonne in Foshan. In Wuxi and Hangzhou, A00 aluminium ingot price has plummeted by RMB 50 per tonne to RMB 14,500 per...
