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.
Chinese secondary aluminium producers operating rates recover 2.3 percentage points M-o-M in July 2020
According to the Shanghai Metals Market, the Chinese secondary aluminium producers operating rates increased by 2.3 percentage points on the month but fell by 5 percentage points from a year ago to stand at 50.3 per cent in July. Recovery in domestic and overseas automobile demand resulting in the hike in orders at some of the secondary aluminium alloy plants could be attributed to the increased secondary aluminium operating rates in July. In June, the average secondary aluminium operating rates were 48 per cent after registering a month-on-month fall of 0.7 percentage points. In May, on the other hand, the operating rates had increased by 1.6 percentage points from the previous month to stand at 48.69 per cent. Higher arrivals of aluminium alloy ingots from overseas to China in June...
COVID-19 Impact: Metro Mining forwarding wet-season shutdown at its Bauxite Hills Mine
Metro Mining Limited has announced that it is moving into the planned 2020 wet season shutdown earlier than usual. The decision has been made given the ongoing pandemic of COVID-19 which continues to have an adverse impact on the market demand and price in the aluminium industry. Mining at the Bauxite Hills Mine in Queensland has already started to ease off and shipping is expected to stop earlier than usual in mid-September until April 2021, said the company in a statement. Metro reasoned that the travel restrictions hampered the company’s ability to finalise offtake contracts. “We are extremely disappointed that despite a record performance from the teams on-site, and the efforts of our marketing team we have been unable to secure further sales that would have meant a very successful...
A00 aluminium ingot price decreases by RMB140/t for the second consecutive day, Aluminium alloy (A356) price down by RMB150/t
According to the Shanghai Metals Market, the A00 aluminium ingot price has recorded a decrease of RMB 140 per tonne to stand at RMB 14,420 per tonne on Monday, August 17. The average prices are expected to range between RMB 14,400 per tonne and RMB 14,440 per tonne, with spot contract to be traded at a premium price of RMB 10-30 per tonne, down by RMB 40 per tonne from the previous day. Shenyang has seen the highest plunge today by RMB 225 per tonne to come in at RMB 14,370 per tonne, followed by a decline of RMB 185 per tonne to RMB 14, 450 per tonne in Gongyi. In Wuxi and Hangzhou, the primary aluminium ingot price has dwindled by RMB 140 per tonne and RMB 135 per tonne to stand at RMB 14,410 per tonne and RMB 14,310 per tonne, respectively. In Chongqing, Foshan, and Tianjin, the...
NALCO increases its aluminium price by only 1% in line with LME price downtrend this week
National Aluminium Company Limited (NALCO) has expanded its aluminium and aluminium product prices for the fourth time in a row, with effect from Friday, August 14. The company has raised its aluminium ingot price by INR 1,300 per tonne or 1 per cent to INR 150,050-153,550 per tonne, as of August 14. After the previous hike a week ago on August 7, NALCO’s aluminium ingot price was at INR 148,750-152,250, up by 2.09 per cent from August 1. With the latest hike, NALCO’s aluminium wire rod price has come in at INR 153,550 – 157,900, up by INR 1,300 per tonne or 1 per cent from INR 152,250-156,600 per tonne. The prices of NALCO’s aluminium billets have also been increased by the same amount to INR 153,500-156,150 per tonne from INR 152,200-154,850 as of August 7. NALCO links its aluminium...
SHFE launches aluminium and zinc options trading on Monday
The Shanghai Futures Exchange (SHFE), on Monday, August 10, launched trading in aluminium and zinc options. China, over the past three years, has launched 18 commodity options. The country is the world’s largest production and trading market for non-ferrous metals. Aluminium futures contracts are listed on SHFE for the past 28 years. “Options can well supplement futures,” said Zhao Jinhua, chairman of China Aluminum International Trading Group, in a Xinhua report. He also said commodity options could help in meeting companies’ needs for flexible risk management and lower the cost of hedging, and thereby, could enhance competitiveness. Five of China’s commodity futures contracts are open to foreign investors, including futures in crude oil, natural rubber, low-sulfur fuel, PTA (purified...
Hindalco Q1 Results: Report industry-high EBITDA margin at 19.3% from India Aluminium Business
Hindalco Industries Limited has announced financial results for the first quarter of 2020 ended June 30, mentioning steady quarterly results driven by a strong performance by India Aluminium Business. Hindalco’s Aluminium India Business EBITDA stood at INR 856 crore versus INR 853 crore during the same period last year. Despite the COVID-19 pandemic, Hindalco has reported the EBITDA margin of 19.3 per cent in Q1, one of the best in the industry. Revenue from the India Aluminium Business, however, edged lower at INR 4,436 crore compared to INR 5,490 crore in Q1FY20. India Aluminium Business achieved aluminium metal production of 291 Kt, while sales at 303 Kt, down by 5 per cent year-on-year due to subdued domestic market, but partially offset by higher exports. Sales of value added...
LME reveals proposed layout plans for its LOW-CARBON aluminium trading platform
On Thursday, August 13, the London Metal Exchange laid out plans to create the much-intended low-carbon aluminium spot trading platform to support sustainable metal production. The platform is expected to play a growing role in the green energy transition enabling registered producers to voluntarily log their metal’s carbon-related details. Starting with green and recycled aluminium, the platform intends to expand in the future into other sectors such as specialised alloys, and later on, into other metals as well. For being the most energy-intensive industrial metal, aluminium is vital for the transition to a low-carbon economy. The vast majority of smelter use coal-fired power for producing primary aluminium. Some use renewable energy source and has long been calling for it to be...
FYI Resources to raise up to $2.7 million for the use in advancing HPA production
According to a recent report, FYI Resources Limited has received firm commitments from several professional investors to raise up to $2.7 million through a two-tranche placement at 6 cents per share for the use in advancing high purity alumina (HPA) production at its fully integrated HPA project in Western Australia. The placement has been strongly supported by local and international investors as well as several existing major shareholders including Regal Funds Management, which has materially increased its 11.5 per cent stake in FYI Resources. Besides, FYI has welcomed a new cornerstone investor, Ken Hall, which has subscribed to buy $500,000 worth of shares. FYI said the funds would be used in marketing activities, ongoing test work, refinement of production process, and further trial...
Three-month LME aluminium closed 1.2% weaker at $1763.5/t, SHFE price decreased to $2088/t
The US dollar slid on Thursday, August 13, against some major currencies such as the euro, Swiss franc, and sterling, weighed down by the impasse in Congress about additional US stimulus to help cope with the coronavirus pandemic. Three-month LME aluminium also trended lower on Thursday, ending 1.2 per cent weaker at US$ 1,763.5 per tonne. As of Thursday, August 13, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1738 per tonne, registering an increase of of US$ 8 per tonne on August 12. 3-months bid price and 3-months offer price grew from US$ 1766 per tonne to US$ 1774 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1849 per tonne. The LME aluminium opening stock declined to 1600525 tonnes. Live Warrants hovered at 1361000 tonnes, while...
Aluminij Industries d.o.o. launching its activities in Bosnia and Herzegovina aiming to become a global aluminium leader
M.T. Abraham Group via its subsidiary Aluminij Industries d.o.o. and in cooperation with its international partners China Machinery Engineering Corporation and China Nonferrous Metal Industry's Foreign Engineering & Construction Co., Ltd. is launching its activities in Bosnia and Herzegovina, aiming at the reposition of Aluminij as a global aluminium leader. The news came after Aluminij Industries d.o.o. officially informed the Government of Bosnia and Herzegovina that its agreement has been accepted on August 5, 2020, and therefore the agreement has entered into force and its provision to be fully implemented. In early April, M.T. Abraham Group, Aluminij Industries d.o.o. and Aluminij d.d. Mostar had signed a lease agreement for the Mostar based company in Bosnia and Herzegovina. The...
Primary aluminium inventories in China gain 12,000 tonnes this week to stand at 737,000 tonnes
According to the Shanghai Metals Market, the social inventories of primary aluminium ingots in China have continued to increase this week ending on Thursday, August 13. Data shows the inventories have built up 12,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to stand at 737,000 tonnes, primarily driven by significant stock expansion in Wuxi. On last Thursday, August 6, the primary aluminium inventories had grown by 13,000 tonnes over the week to come in at 725,000 tonnes. The growth in inventories this week marks the third consecutive weekly rise. The chart below indicates the current status of primary aluminium inventories across China in more details: As the above chart shows, the hike in primary aluminium inventories this week has not touched upon...
IBAAS announces to postpone the 9th IBAAS International Conference & Exhibition to October 27-29, 2021
In view of the current global COVID-19 pandemic and travel restrictions, the organizing committee of International Bauxite, Alumina & Aluminium Society (IBAAS) has decided to postpone the 9th IBAAS International Conference & Exhibition (IBAAS-JNARDDC 2021) to October 27-29, 2021 from November 4 - 6, 2020. Except the changes in date and year, there will be no change in the venue, exhibition plan or post conference visits. The event, co-organized with Jawaharlal Nehru Aluminium Research Development & Design Centre (JNARDDC), India, will be held in Hotel Marriot, Raipur. The theme also remains the same - “Sustainability Challenges of Bauxite, Alumina & Aluminium Industry”. The organizing committee of the conference is formulating a world class program focusing on key topics and issues in the...
US aluminium semis exports to Canada continue to trend down in May 2020 with a decline of 12% M-o-M
The latest data of the US Geological Survey showed the United States exports of aluminium plates, sheets and bars to Canada continued to trend down in May 2020. Barring a rise in February, the United States aluminium semis exports to Canada saw incessant falls during March-May 2020. The United States exports to Canada in May 2020 stood at 15,100 tonnes, 11.70 per cent lesser than 17,100 tonnes in April 2020. In March, the US aluminium semis exports to Canada totalled 28,300 tonnes, registering a plunge of 10.16 per cent from 31,500 tonnes in February. April saw a decline of 39.58 per cent in the US exports to Canada. In January, the export stood at 30,900 tonnes, meaning February saw a monthly rise of 2 per cent. On a year-on-year basis, the US aluminium plates, sheets and bars exports to...
China’s automobile market further recovers from COVID-19 pandemic with sales rising by 16.4% in July 2020
The automobile market in China saw a further recovery in July, marking the fourth consecutive month of growth for the overall vehicle market since the plunge of 42 per cent in the first quarter of 2020. New vehicle sales in July rose by 16.4 per cent from 1.81 million units during the same period last year to 2.11 million units, according to the data released by the China Association of Automobile Manufacturers (CAAM). In July 2020, the recovery in China’s automobile market was primarily driven by commercial vehicles, with sales rising 59 per cent to 447,000 units. Passenger vehicles sales rose 8.5 per cent to 1.67 million units during the same month. The new energy vehicles saw the first positive month in July since the government slashed subsidies a year ago. New energy vehicle sales...
Alumina spot price in China declines by RMB25/t after a week-long restraint, A00 aluminium ingot price surges by RMB170/t
The average alumina spot price in China has recorded a decline of RMB 25 per tonne to stand at RMB 2,314 per tonne, following restraints at RMB 2,339 per tonne during August 6-12, found Shanghai Metals Market on August 13. In the north, the price has decreased by RMB 30 per tonne to RMB 2,300 per tonne, while that in the central and east has plunged by RMB 25 per tonne and RMB 20 per tonne to stand, respectively, at RMB 2,315 per tonne and RMB 2,305 per tonne. In the south, however, the average alumina price has remained unchanged at RMB 2,520 per tonne. The imported alumina price has also registered no change from RMB 2,325 per tonne, but the price of Australian alumina FOB has inched down by US$ 6 per tonne to hover at US$ 265 per tonne. Among other input costs, the price of aluminium...
COVID-19 Impact: Novelis net income declines 85% Y-o-Y in Q1 FY21, attributing to lower sales and shipments
Novelis Inc., the world leader in aluminium rolling and recycling, has reported the first-quarter results of fiscal 2021 ended June 30, mentioning a net loss of $61 million from continuing operations, down 148 per cent year-on-year. The company’s net income totalled $22 million during Q1 FY2021, excluding tax-effected special items. This stood down by 85 per cent versus the same period last year, primarily attributing to the after-tax impact of lower Adjusted EBITDA, which was 32 per cent lower year-on-year to $253 million in Q1. The company's financial results were mainly impacted by the COVID-19 pandemic, said Novelis. However, the resiliency of the beverage can market and the recovery in the automotive and specialty markets towards the end of the quarter provided some stability....
Jiangsu Pomlead expanding its aluminium wheel hub manufacturing capacity to meet growing demand
Jiangsu Pomlead, aluminium wheel hub manufacturer in China, is reportedly on track to launch its second production line, in a bid to expand Chinese aluminium alloy wheel hub capacity. The second production line is expected to commission in September with a capacity of 500,000 units per year. This will raise Pomlead’s total manufacturing capacity to 1.5 million units per year. Pomlead is expanding its capacity in response to higher demand for lightweight and energy-saving materials from the automotive industry. Besides, Pomlead is building another four production lines with a combined capacity of 2 million units per year and has already invested RMB 1 billion ($144 million) for the project. Two of the new lines are scheduled to be completed at the end of this year, while the remaining two...
Dresden scientists develop aluminium plate with self-cleaning properties
An aluminium plate has been made with a laser process in a way that no water droplets can adhere to its surface and dirt particles can be removed without the use of any chemical cleaning agents or additional efforts. A joint effort of a project team of Technische Universität Dresden and the Fraunhofer Institute for Material and Beam Technology IWS made this innovation possible. For several years, scientists at TU Dresden and Fraunhofer IWS were striving to develop functionalised surfaces by means of laser-based manufacturing processes. Now, they have created a periodic surface structure that is water and ice repellent and also capable of removing dirt particles solely by rolling water drops. Their primary focus was the metal aluminium as it is largely used in the manufacture of...
