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.
Three-month LME aluminium closed firmer at $1786/t, SHFE continued to decline to $2066/t
The US dollar fell from one-week highs on Tuesday, August 11, as investors flocked to currencies that benefit from an improving global market outlook. Three-month LME aluminium finished the day 0.17 per cent firmer at US$ 1,786 per tonne on Tuesday. As of Tuesday, August 11, both LME aluminium cash (bid) price and LME official settlement price increased by US$ 19.5 per tonne to stand at US$ 1749.5 per tonne, following a decline of US$ 14 per tonne on the previous day. 3-months bid price and 3-months offer price rebounded to US$ 1786 per tonne, while Dec 21 bid price and Dec 21 offer price came in at US$ 1860 per tonne. The LME aluminium opening stock continued to decline from 1621400 tonnes to 1617175 tonnes. Live Warrants hovered at 1361200 tonnes, while Cancelled Warrants at 255975...
Hindalco again cuts its aluminium prices w.e.f August 11 after an intermittent hike; Ingot price now stands at INR14900/t
Hindalco Industries Limited has reduced its aluminium ingot and aluminium product prices with effect from Tuesday, August 11, following a hike on August 8. The company is now selling its aluminium ingot at INR 14,900 per tonne, down by INR 1,250 per tonne or 1 per cent from INR 150,250 per tonne on August 8. With the latest reduction, Hindalco’s aluminium wire rod price has come in at INR 160,100 per tonne, while earlier the price was at INR 161,350 per tonne on August 8 – a decrease of INR 1,250 per tonne or 1 per cent. The company’s aluminium billet price is now at INR 156,100 per tonne versus INR 157,350 per tonne on August 8. Like any other major Indian aluminium producers, Hindalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange. In the...
Canyon announces maiden JORC 2012 ore reserve at 51.1% alumina for Minim Martap Bauxite Project
According to a recent report, Canyon Resources Limited has announced a maiden JORC 2012 ore reserve for its Minim Martap Bauxite Project in Cameroon, West Africa. The reserve is estimated to have 97.3 million tonnes of ore at 51.1 per cent alumina and 2.3 per cent silica. This ore is based on the pre-feasibility study (PFS), which Canyon completed in early July. The company then confirmed project’s ability to produce high-quality, low-contaminant bauxite over a long mine life of at least 20 years via a multi-stage development. Mine will start with a production rate of four million tonnes per annum for two years. "The maiden ore reserve for the Minim Martap Project is the culmination of a great deal of work from all our teams around the world and sets the scene for the next exciting phase...
US aluminium scrap exports to China recorded half during Jan-May 2020, despite month-on-month growth
The latest data from the US Geological Survey showed a year-on-year decline of 50.31 per cent in the United States aluminium scrap exports to China during January-May. The total exports of aluminium scrap from the US to China during the first five months of the year amounted to 94,900 tonnes versus 191,000 tonnes during the same period last year. In May 2020, US exported 28,400 tonnes of aluminium scrap to China, higher by 6.8 per cent than 26,600 tonnes in April 2020. In March, the US aluminium scrap exports to China were 18,000 tonnes, meaning April saw a month-on-month hike of 48 per cent. The export in March also grew month-on-month from 11,000 tonnes, followed by a restraint in February compared to 10,500 tonnes of exports in January 2020. This show the aluminium scrap exports from...
Shell completes its Port Allen Plant expansion to increase precipitated alumina powder production
According to a recent report, Shell Catalysts & Technologies (SC&T) has successfully completed the expansion of its Port Allen, Louisiana plant in the US, to double the production capacity of precipitated alumina powder. The project is part of the SC&T’s strategy to meet the growing demand for precipitated alumina powder in the residue and gasoil hydroprocessing markets. Besides productions, this expansion will allow the Port Allen plant to increase powder supply to its world-scale catalyst plant, located at the Port Allen facility, and also to other Shell catalyst plants globally. The expansion project includes the capacity ramp-up of existing equipment, the addition of several new major pieces of processing equipment, and improving energy-efficient alternatives to reduce fixed and...
Canadian manufacturers call US aluminium tariffs “Unjustified and Unnecessary”
Showing grief and disgust, Canada’s manufacturing industry has condemned the new aluminium import tariffs imposed by the Trump Government. They are worried about the adverse economic impact that the tariffs may cause, slowing the recovery from the COVID-19 pandemic. Industry experts and groups, which represent companies whose supply chains rely heavily on aluminium, call the new tariffs “unjustified and unnecessary.” “It’s very disheartening that the U.S. would take this action,” said Dennis Darby, chief executive of the Canadian Manufacturers and Exporters, which represents more than 2,500 manufacturers across the country. “The last thing that any industry needs right now is extra costs,” he added. He fears the tariffs will hurt the efforts putting in for restoring the Canadian and...
A00 aluminium ingot price continues to decline to hover below RMB14500/t; Aluminium alloy (A356) price also plunges
The A00 aluminium ingot price has continued to decline in China by RMB 110 per tonne to stand at RMB 14,470 per tonne, as of Tuesday, August 11, according to the Shanghai Metals Market. Data shows the average prices 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 70-110 per tonne, up by RMB 20 per tonne from the previous day. Linyi has seen the highest downfall in primary aluminium ingot price today among all other major Chinese cities. In Linyi, the price has decreased by RMB 170 per tonne to RMB 14,610 per tonne, followed by the decline of RMB 140 per tonne in Gongyi to RMB 14,450 per tonne. The price in Wuxi and Hangzhou has declined by RMB 120 per tonne to come in at RMB 14,470 per tonne, while that...
China’s unwrought aluminium and aluminium semis exports increase by 5.5% in July after months of downfall
According to the data shown by the General Administration of Customs, China’s unwrought aluminium and aluminium semis exports recorded a month-on-month hike of 5.5 per cent in July 2020. Following a decline in the month earlier from 382,900 tonnes in May to 352,485 tonnes, China’s unwrought aluminium and aluminium semis exports in July increased to 373,000 tonnes. In May as well, the exports declined month-on-month by about 13.17 per cent from 441,000 tonnes. On a year-on-year basis, China’s exports of unwrought aluminium and aluminium semis in July 2020 stood down by 23.3 per cent, showed the data. In the first seven months of the year, the exports totalled 2.74 million tonnes, down by 21 per cent from the same period last year. China’s exports of unwrought aluminium and aluminium...
China’s primary aluminium production grows 1.83% Y-o-Y to 3.12 million tonnes in July 2020
Shanghai Metals Market found China’s primary aluminium production rose by 1.83 per cent year-on-year to 3.12 million tonnes in July 2020. On a month-on-month basis, the output edged higher by 4 per cent from 3 million tonnes in June 2020. Data shows there were 41.41 million tonnes among 41.23 million tonnes per year of existing primary aluminium capacity in operation at the end of July. This increased by 12.65 per cent from 36.76 million tonnes of capacity in operation in June-end. Operating rates hiked by 0.5 percentage point to 89.5 per cent as increase in primary aluminium ingot prices encouraged newly commissioned and resumed capacities to ramp up. In the first seven months of the year, China’s primary aluminium output amounted to 21.13 million tonnes, up by 2.76 per cent from the...
LME aluminium price edged higher at $1744/t on decreasing opening stock; SHFE stood lower at $2087/t
Three-month LME aluminium fell by 1.04 per cent to end at US$ 1,759.5 per tonne on Friday as the dollar index strengthened. Open interest added 2,430 lots to 802,000 lots as longs added positions. The contract is likely to trade between US $1,740-1,800 per tonne today. As of Friday, August 7, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1744 per tonne, up by US$ 22 per tonne from to US$ 1722 per tonne on August 6. 3-months bid price and 3-months offer price rebounded to US$ 1780 per tonne, following a downfall of US$ 21.50 per tonne to US$ 1758.50 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1858.50 per tonne. The LME aluminium opening stock declined from 1632325 tonnes to 1626850 tonnes. Live Warrants hovered...
Utkarsha Aluminium Dhatu Nigam Ltd to hire an environmental consultant for its proposed alloy plant in Nellore
Utkarsha Aluminium Dhatu Nigam Limited (UADNL), a joint venture firm of Nalco and Mishra Dhatu Nigam Limited, has reportedly floated a tender to hire a consultancy firm who would be getting environmental clearance for UADNL's proposed high-end aluminium alloy plant at Nellore, Andhra Pradesh. The consultancy firm will have to obtain environmental clearance, including preparation or conducting Environmental Impact Assessment (EIA) studies and preparation of environmental management plan for the project site and other studies. The tender document said the environmental consultant will fulfil the statutory requirement and assist UADNL in obtaining environmental clearance for the Nellore project from appropriate authorities. The joint venture was formed to set up a high-end aluminium alloy...
NALCO continues to increase its aluminium prices by 2% in response to growing LME benchmark prices
National Aluminium Company Limited has continued to increase its aluminium ingots and products prices for the third time in a row, with effect from Friday, August 7, 2020. Nalco’s aluminium ingots price is now standing at INR 148,750-152,250 per tonne, up by INR 3050-3100 per tonne or 2.09 per cent from INR 145,700 – 149,150 per tonne on August 1. The price of aluminium wire rods has also been raised by INR 3,100 per tonne or 2.08 per cent from INR 149,150-153,500 per tonne to INR 152,250-156,600 per tonne. Nalco, on the other hand, is selling its aluminium billets price at INR 152,200-154,850 per tonne since the latest hike. This registers an increase of INR 2,850-3,100 per tonne or 1.9-2.04 per cent from INR 149,350- 151,750 per tonne on August 1. Like any other major Indian aluminium...
China’s alumina production rose 3.5% M-o-M to 5.91 million tonnes in July 2020
Shanghai Metals Market found China’s alumina production stood at 5.91 million tonnes in July 2020, including 5.7 million tonnes of metallurgical-grade alumina. The output increased by 3.50 per cent from 5.71 million tonnes in June 2020. China’s total alumina output in the first seven months of the year amounted to 38.34 million tonnes, down by 6.54 per cent from the year earlier, showed SMM data. China’s daily alumina production was 183,000 tonnes in July, registering a hike of 0.29 per cent month-on-month and 0.04 per cent over the year. The month-on-month increase in production could be attributed to Luoyang Wanji, SPIC Aluminium & Power Investment, and Chongqing Bosai as they restored some capacities. As of early August, the operating capacity of metallurgical-grade alumina stood at...
Canada plans to retaliate with counter tariffs on US, claims no surge seen in aluminium exports this year
Following the United States announcement to restore the 10 per cent tariffs on Canadian non-alloyed unwrought aluminium, Canada has decided to retaliate with counter tariffs on the US. The news came after Deputy Prime Minister of Canada Chrystia Freeland said in a statement that Canada intends to swiftly impose dollar-for-dollar countermeasures, in response to the American tariffs. She called the United States new tariffs “unwarranted and unacceptable,” noting that Canadian aluminium does not undermine U.S. national security but strengthens it. She added that these tariffs were the last thing that American and Canadian workers needed during the COVID-19 pandemic and ensuing economic crisis. According to Chrystia Freeland, the tariffs would bring in another toll on workers and regional...
Donald Trump reimposes 10% tariffs on Canada’s raw aluminium, reacts many US business groups
On Thursday, August 6, the US President Donald Trump declared to reimpose 10 per cent tariffs on non-alloyed unwrought aluminium imported from Canada, as a measure to protect the US aluminium industry. Speaking in Ohio, Trump said these tariffs were necessary to defend the US aluminium industry as the imports from Canada surged above historical levels in recent months, despite a drop in US demand. The office of the United States Trade Representative pointed out that in May 2019, Canada was exempted from tariffs "on the basis of an agreement that imports of steel and aluminium products from Canada would remain at historical levels." In 2018, the US had imposed an additional 25 per cent tariffs on steel and 10 per cent on aluminium from Canada and other countries, which fuelled a...
A00 aluminium ingot price in China rebounds to RMB14720/t, Aluminium alloy (A356) price increases by RMB50/t
Following a steep fall last day, on August 6, the A00 aluminium ingot price has recorded a hike of RMB 70 per tonne to stand at RMB 14,720 per tonne, as of August 7, found Shanghai Metals Market. The average prices are expected to range between RMB 14,700 per tonne and RMB 14,740 per tonne, with spot contract to be traded at a premium price of RMB 30-70 per tonne, up by RMB 20 per tonne from the previous day. Among the major Chinese cities, Gongyi has seen a maximum surge in A00 aluminium ingot price of about RMB 165 per tonne to come in at RMB 14,740 per tonne. Wuxi has seen a growth of RMB 80 per tonne to RMB 14,730 per tonne, followed by Shenyang and Linyi, where the price has increased by RMB 75 per tonne and RMB 60 per tonne to respectively stand at RMB 14,735 per tonne and RMB...
Aluminium billet inventories in China built up 9,900 tonnes on week
Shanghai Metals Market found a rise in aluminium billet inventories on Thursday, August 6, as arrivals at stocks increased in Guangdong and Jiangxi. SMM data showed that 6063 aluminium billet stocks across the five major consumption areas in China built up by 9,900 tonnes from a week ago to come in at 75,800 tonnes. On last Thursday, July 30, the stocks fell by 2,700 tonnes with a significant decline in arrivals at warehouses. The chart below indicates the current status of aluminium billet inventories across China in more details: As the hike in inventories did not touch upon all the major Chinese cities, only Nanchang, Foshan, and Changzhou saw an increase in stocks. While in Nanchang and Foshan, the aluminium billet inventories surged by 8,050 tonnes and 4,600 tonnes to respectively...
Primary aluminium inventories in China record a further W-o-W rise of 13,000 tonnes
According to Shanghai Metals Market, the social inventories of primary aluminium have extended their hike across eight major consumption areas in China, including SHFE warrants, on Thursday, August 6. The inventories have increased by 13,000 tonnes this week to come in at 725,000 tonnes versus the rise of 10,000 tonnes on last Thursday, July 30. The chart below indicates the current status of primary aluminium inventories across China in more details: However, except Nanhai and Hangzhou, the increase in primary aluminium inventories has not touched upon all the major Chinese cities. In Nanhai, the social inventories of primary aluminium have grown by 20,000 tonnes to come in at 202,000 tonnes and that in Hangzhou have inched up by 3,000 tonnes to stand at 98,000 tonnes. In Gongyi,...
