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.
A00 aluminium ingot price extends hike to RMB14640/t, Aluminium alloy(A356) price grows by RMB100/t
On Wednesday, August 19, A00 aluminium ingot price has recorded a hike for the second day in a row by RMB 100 per tonne to stand at RMB 14,640 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 14,620 per tonne and RMB 14,660 per tonne, with spot contract to be traded at a premium price of RMB 80-120 per tonne, down by RMB 20 per tonne from the previous day. Tianjin has seen the highest increase today of RMB 170 per tonne to RMB 14,670 per tonne, followed by a rise of RMB 140 per tonne to RMB 14,660 per tonne in Hangzhou. In Wuxi and Shenyang, the A00 aluminium ingot price has climbed up by RMB 130 per tonne and RMB 120 per tonne to come in at RMB 14,660 per tonne and RMB 14,685 per tonne, respectively. In Foshan and Chongqing, the primary...
COVID-19 Activities: Lindal Group distributes 25,000 aluminium aerosol cans of hand sanitiser to schools and hospitals
As part of the continued efforts to help combat the COVID-19 pandemic, Lindal Group has distributed 25,000 cans of hand sanitiser between three companies and donated to hospitals, care homes, schools, charities, and the emergency services. According to the report, Lindal Group has distributed the cans of Rainbow hand santiser, which were designed, produced, and filled in collaboration with Ball Aerosol Packaging Devizes (UK) and Reabrook. The work behind the sanitisers involved the development of new formula and 12 weeks of stability testing. They were packaged using Ball Corporation’s aluminium aerosol cans which accommodate Lindal’s valve and actuator technology and then filled on one of Reabrook’s high-speed filling lines and safety checked with leak detection and pressure. Lindal...
US aluminium plates, sheets and bars exports to Mexico continue to decline by 25% in May 2020
According to the data released by the United States Geological Survey for May 2020, the US aluminium plates, sheets and bars exports to Mexico stood at 13,800 tonnes, down by 4,700 tonnes or 25.41 per cent from 18,500 tonnes in April. In March 2020, the United States exported 26,900 tonnes of aluminium semis, registering a hike of 2,800 tonnes or 11.62 per cent from 24,100 tonnes in February. In April, the aluminium semis exports from the US to Mexico declined by 8,400 tonnes or 31.22 per cent month-on-month. Even February witnessed a downfall of 2,000 tonnes or 7.66 per cent from the exports in January. On a year-on-year calculation, the United States aluminium plates, sheets and bars exports to Mexico in May 2020 stood down as well by 17,700 tonnes or 56.19 per cent from 31,500 tonnes....
First aluminium-bodied metro coaches manufacture by Titagarh Firema in India marks a significant step towards “Self-Reliant India”
In a move towards self-reliant India, Kolkata-based firm Titagarh Firema has become India’s first company to manufacture aluminium-bodied coaches. The first fleet of these coaches are supposed to be supplied to Pune Metro for use in its rail-based transit system. A year ago, Titagarh Wagons and its subsidiary Titagarh Firema SpA won an international tender by bidding the lowest for designing, manufacturing, and supplying 102 aluminium-bodied metro rail coaches. Secretary of Ministry of Housing and Urban Affairs (MoHUA) Durga Shankar Mishra tweeted that a part of the project would be delivered by June 2021. He said, “In a huge leap towards Atmanirbhar Bharat, Titagarh Firema, a firm based in Kolkata, is the first Indian company, which will manufacture aluminium bodied metro coaches for...
CAP to pay off a large portion of debt in lay up to Jamalco alumina refinery’s listing on the Jamaica stock exchange
According to a recent report, Co-owner of Jamalco alumina refinery, Clarendon Alumina Production Limited (CAP), will pay off a large portion of its debt. This will improve its overall equity position in the lay up to the refinery’s planned listing on the stock exchange. The company will secure the funds for paying off the debt from the Government of Jamaica, GOJ. Through CAP, the Government is a partner with Noble Group in the refinery. “CAP, through a loan from the GOJ, will repay debt obligations due to the Noble Group, in the amount of approximately US$136.7 million,” said Minister of Finance and Planning Dr Nigel Clarke in a statement to Parliament this week. “The transactions improve CAP’s equity value,” he said. CAP holds 45 per cent of Jamalco, while the Hong Kong-based Noble Group...
LME aluminium price declined for the second consecutive day to $1719.5/t, SHFE price increased to $2081/t
US dollar fell for four straight trading days, and recorded a new low since August 7 of 92.76 on Monday as weak results from a regional manufacturing survey added to doubts sowed by grim data last week that the US recovery is on shaky grounds. Three-month LME aluminium closed 0.92 per cent firmer at US$ 1,757 per tonne on Monday. Open interest fell 1,440 lots to 807,000 lots. It is likely to move between US$ 1,735-1,765 per tonne today. As of Monday, August 17, LME aluminium cash (bid) price and LME official settlement price continued to decline for the second consecutive day to US$ 1719.50 per tonne from US$ 1730 per tonne. 3-months bid price and 3-months offer price stood at US$ 1757 per tonne, down by US$ 9 per tonne from US$ 1766 per tonne. Dec 21 bid price and Dec 21 offer price came...
Bring the World of Aluminium at your Fingertips! AlCircle launches “AlCircle News” App
Who hasn’t heard the saying “News at Fingertips”, especially when the whole world is moving at its fastest pace and when everybody is looking out for information at just a Click Away? So, to cater to the need to stay updated with all the latest developments in the aluminium value chain market even when you are on the move, AlCircle has launched a news app named AlCircle News . This app is specially curated to facilitate the readers with easy access to the latest news and events of the Aluminium world at literally a few clicks away and to address the changing consumption patterns of people who prefer apps over a website. AlCircle, like always a committed aluminium information platform, offers news, reports, blogs, interviews, and event calendars on this app with user-friendly, easy to...
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...
