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 0.61% lower at $1697/t, SHFE aluminium grew to $2063/t
The US dollar index touched a new 22-month low on Friday, July 24, while the safe-haven yen rose to its highest in more than four-months, as investors reacted to simmering US-China tensions, a continued rise in coronavirus cases as well as hopes for another US stimulus package. Three-month LME aluminium fluctuated to close 0.61 per cent lower at US$ 1,697 per tonne on Friday, posting a weekly gain of 2.04 per cent. It is likely to continue to move at US$ 1,680-1,720 per tonne today. On Friday, July 24, both LME aluminium cash (bid) price and LME official settlement price edged lower at US$ 1654.50 per tonne from US$ 1661 per tonne. 3-months bid price and 3-months offer price stood at US$ 1692 per tonne, down by US$ 4.5 per tonne from US$ 1697.50 per tonne on July 23. Dec 21 bid price and...
Hindalco increases its aluminium prices by INR2000/t after a cut last week
Hindalco has hiked its aluminium ingot and aluminium product prices by INR 2,000 per tonne or 1.42 per cent with effect from Friday, July 24, following a cut last week on July 17. With the latest increase in price, Hindalco is selling its aluminium ingot at INR 143,250 per tonne, compared to INR 141,250 per tonnes on July 17. Hindalco’s aluminium wire rod price has been increased to INR 154,350 per tonne from INR 152,350 per tonne, while the price of its aluminium billet has been raised to INR 150,350 per tonne from INR 148,350 per tonne. 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 last one week during July 20-23, the three-month aluminium futures price of aluminium on LME...
Rusal updates its Krasnoyarsk Aluminium Smelter to EcoSoderberg technology, the best aluminium production process
Rusal has announced today, on July 24, that it has completed the project of converting its Krasnoyarsk Aluminium Smelter to the EcoSoderberg technology. The recently completed retrofitting project, which required an expenditure of US$ 74 million, involved modifying a total of 1954 reduction cells to use the EcoSoderberg technology. Between 2004 and 2019, Krasnoyarsk Aluminium Smelter allocated over US$ 390 million in total towards the implementation of various modernisation projects. The EcoSoderberg technology was developed by the Engineering and Technology Centre of Rusal. It is recognised as the best available technology in the aluminium production section by Rosstandard. Experts say that the EcoSoderberg process is one of the most efficient and environmentally-friendly production...
Vedanta increases aluminium ingot price by 1% w.e.f from July 24 in line with the uptrend in LME aluminium price
Vedanta Limited has increased its aluminium ingot and aluminium product prices with effect from Friday, July 24, following a cut last week on July 17. With the latest hike, the company’s aluminium ingot price is now ranging between INR 141,750 per tonne and INR 154,750 per tonne, up INR 1,750 per tonne or 1.25 per cent from INR 140,000-153,000 per tonne on July 17. Vedanta’s aluminium billet price has come in at INR 149,750 per tonne with effect from today, July 24, higher by also INR 1,750 per tonne or 1.18 per cent from INR 148,000 per tonne. The company, after the increase today, is selling its aluminium wire rod at INR 149,250-156,750 per tonne compared to INR 147,500-155,000 per tonne on July 17. The Indian aluminium producers generally link prices of its products to the three-month...
Frank and Honest announces the launch of its new aluminium coffee capsules compatible with Nespresso® machines
Frank and Honest has announced that it has launched its new aluminium coffee capsules, embarking a significant step in sustainable journey. The company says that these aluminium capsules will replace the entire usage of plastic in its coffee capsules. Frank and Honest also explains that using aluminium in capsules will reduce the product's environmental footprint, given that they will be lightweight and recyclable. Besides, aluminium capsules will also notably improve the quality of the coffee as they are airtight, thereby, keep the coffee inside fresh for longer and fully protected from moisture, oxygen, light, and heat. The new coffee capsules are also compatible with all generation Nespresso® machines, excluding Nespresso® Vertuo. When it comes to recycling these capsules, there are...
China’s average alumina spot price drops by RMB4/t following back-to-back restraints; A00 aluminium ingot price down by RMB10/t
The Shanghai Metals Market data shows that the average spot price of alumina has dropped by RMB 4 per tonne after remaining restrained for the last ten days. On Friday, July 24, the alumina price has come in at RMB 2,491 per tonne compared to RMB 2,495 per tonne during July 13-23, found SMM. In the east and north, the average alumina price has declined by RMB 10 per tonne to stand respectively at RMB 2,465 per tonne and RMB 2,490 per tonne, while that in the central and south has continued to hover at RMB 2,500 per tonne and RMB 2,520 per tonne, respectively. The prices of imported alumina and Australian alumina FOB have also not recorded any changes today from RMB 2,450 per tonne and US$ 281 per tonne, according to SMM. The A00 aluminium ingot price has also recorded a downfall of RMB 10...
Norsk Hydro: Higher production costs of alumina may affect company’s profit in Q3 2020
Despite the robust second-quarter earnings, Norsk Hydro analysed that it might face higher production costs going ahead in the third quarter of 2020. The overall production costs of alumina fell to a four-year low of $192 per tonne in Q2 2020, but in the third quarter, rising costs would likely add $15-20 a tonne, said Norsk Hydro executives on a call with analysts. “If we look into third-quarter we expect to see an increase in the main raw materials ... costs are expected between 20-30% for the two materials (fuel oil and caustic soda),” chief financial officer Paal Kildemo said. Hydro’s Chief Executive Hilde Merete Aasheim even signalled that higher production costs might mean lower profit in the third quarter of 2020. In the second quarter results, Hydro reported an increase in its...
Primary aluminium inventories in China continue W-o-W decline to stand at 702,000 tonnes
According to Shanghai Metals Market, the social inventories of primary aluminium ingots have extended week-on-week decline on July 23 across eight major consumption areas, including SHFE warrants. Declining by 6,000 tonnes from the previous week, the inventories today have come in at 702,000 tonnes. On last Thursday, July 16, the primary aluminium stocks were at 708,000 tonnes after declining by 4,000 tonnes week-on-week. Meanwhile, on Monday, July 20, the primary aluminium ingot inventories recorded a hike of 4,000 tonnes over the weekend after more than three months to stand at 712,000 tonnes, found SMM. So, compared to Monday, the stocks today have stood down by 10,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: As...
Save the Date! AlCircle announces first-of-its-kind “Global Aluminium Expo 2020”
When the world is united with a string of digitalization, how do we not meet and greet each other even amidst the COVID-19 pandemic? Yes, you guessed right, we mean virtual meeting and conference, and for that reason, AlCircle for the first time presenting an online “Global Aluminium Expo 2020” from October 6-7, 2020. This expo is aimed at bringing all the aluminium industry partners under one umbrella virtually; whereby, technology will drive your physical presence and enable you to reach out to your industry associates to build a stronger network and sustainable business. With the intention of creating an immersive real-live experience, this online exhibition will equip all its attendees, exhibitors & sponsors with a host of digital tools such as video calls, exchange of digital...
Alcoa aluminium smelter in Ferndale conducting the final round of layoffs, hundreds to lose jobs
Alcoa Intalco Works, an aluminium smelter located in Ferndale, North America, is reportedly conducting its final round of layoffs this week; whereby, 700 employees are going to lose their jobs. The plant has been one of the main industries in Ferndale for over 50 years. “We produce all the primary aluminum needed for wheels and stuff like that,” said Jason Swendt, an employee and one of the lucky few who could save his job at the plant through the rounds of layoffs. In April, Alcoa had announced a curtailment, leaving a bare minimum number of employees to keep the plant in operating shape, hoping that any company wills to purchase it. This smelter is the last one in the west of Mississippi and one of just seven left in America. Most of the aluminium industry has shifted operations from...
Aluminerie Alouette primary aluminium smelter in Quebec receives ASI Performance Standard Certification
Aluminerie Alouette's operations in Sept-Îles, Quebec, have been acknowledged by the Aluminium Stewardship Initiative with its Performance Standard Certification. The news came after ASI announced today, July 23, that it successfully certified the Aluminerie Alouette plant in Sept-Îles. The plant has an annual capacity of 600,000 tonnes of primary aluminium. It is the largest smelter in the Americas. The ASI certification scope covers the facility’s aluminium smelting, casthouse, and operational activities. Fiona Solomon, Chief Executive Officer at ASI said, “We congratulate Aluminerie Alouette on its ASI Performance Standard certification. This certification is significant not only due to the company’s annual production capacity, but also because the consortium behind the company...
LME aluminium price extended growth for the third straight day to $1651/t; SHFE price declined to $2058/t
The US dollar gave up some of its earlier gains recorded on Wednesday, July 22, as investors retreated from the safe-haven asset, following struggles by the US to reach a consensus on further stimulus measures. Three-month LME aluminium fell as much as over 1 per cent last night amid concerns about mounting US-China tensions, ending lower on the day at US$ 1,689.5 per tonne, following a session low of US$ 1,675 per tonne. On Wednesday, July 22, both LME aluminium cash (bid) price and LME official settlement price extended growth for the third consecutive day to stand at US$ 1651 per tonne. 3-months bid price and 3-months offer price stood at US$ 1686 per tonne, up by US$ 3.5 per tonne from US$ 1682.50 per tonne on July 21. Dec 21 bid price and Dec 21 offer price came in at US$ 1774.50 per...
Alcoa to supply its low-carbon aluminium rolling slab ECOLUM™ to Gränges AB in support of supply chain sustainability
Alcoa Corporation has announced today, July 22, that it has reached an agreement with Gränges AB to supply its low-carbon aluminium rolling slab ECOLUM™ to help the company achieve the goal of cutting carbon emissions across supply chain. ECOLUM™ is part of Alcoa’s SUSTANA™ line of low-carbon products that support supply chain sustainability. “Gränges is committed to reducing our climate impact from a life-cycle perspective, and thereby enhancing our sustainability performance,” said Sofia Hedevåg, Gränges’ SVP Sustainability. She added, “One of the key priorities in our climate strategy is to collaborate along the value chain and increase the sourcing and use of recycled aluminum and low-carbon primary aluminum since such materials significantly reduce our products’ carbon footprint.”...
Amid COVID-19: Hydro’s primary aluminium production grows 5% YoY in Q2'20, underlying EBIT grows attributing to Alunorte production hike
Hydro has released its second-quarter results of 2020, wherein it has reported a year-on-year increase of 5 per cent in primary aluminium production. From 486,000 tonnes in Q2 2019, Hydro’s primary aluminium output in Q2 2020 surged to 509,000 tonnes. However, on a quarter-on-quarter comparison, the output in Q2 of this year stood down by 4 per cent from 528,000 tonnes. The company’s total primary aluminium production in the first half of 2020 came in at 1.04 million tonnes, 7 per cent higher than 971,000 tonnes during the same period last year. Hydro, as per the report, generated NOK 30,931 million of revenue in Q2 2020, 19 per cent lower than NOK 38,124 million in Q1 2020 and 21 per cent from NOK 39,176 million in Q2 2019. The total revenue of Hydro in the first six months of the year...
World alumina production in May 2020 grows nearly 2% M-o-M to 11.1 MT; Total output during Jan-May remains flat Y-o-Y
According to the International Aluminium Institute data, the world alumina production in May 2020 stood at 11.1 million tonnes, up by 1.74 per cent from 10.91 million tonnes in April 2020. When compared to a year earlier, the output was found almost flat. In May 2019, global alumina production was 11.03 million tonnes. The total global production of alumina in the first five months of 2020 came in at 54.87 million tonnes, almost flat compared to 54.63 million tonnes of production during the corresponding period last year. China, being the leading alumina producer, churned out 5.66 million tonnes in May 2020, up by 1.62 per cent from 5.57 million tonnes in the previous month. However, on a year-on-year comparison, China’s alumina production in May 2020 stood down by 5 per cent from 5.96...
A00 aluminium ingot price grows by RMB110/t with premium spot price lowered at RMB130-170/t, Australian alumina FOB price down to $281/t
According to the Shanghai Metals Market, the A00 aluminium ingot price has increased by RMB 110 per tonne to RMB 14,520 per tonne on Wednesday, July 22, following a decline from RMB 14,480 per tonne to RMB 14,410 per tonne on the previous day. Today, the average prices are expected to range between RMB 14,500 per tonne and RMB 14,540 per tonne, with spot contract to be traded at a premium price of RMB 130-170 per tonne, down by RMB 50 per tonne from July 21. Foshan has seen the highest growth of RMB 140 per tonne in A00 aluminium ingot price today to stand at RMB 14,460 per tonne, followed by the hike of RMB 120 per tonne in Tianjin to stand at RMB 14,520 per tonne. Wuxi, Hangzhou, and Chongqing have seen an increase of RMB 110 per tonne to RMB 14,520 per tonne, RMB 14,540 per tonne, and...
Africa’s primary aluminium production shrank to 401,000 tonnes in Q2 2020 amidst COVID-19 pandemic
The latest data of the International Aluminium Institute shows a slight dip in the primary aluminium production in Africa in the second quarter of 2020. In the first quarter, Africa’s primary aluminium output was 402,000 tonnes, which in the second quarter marginally declined to 401,000 tonnes. When compared to the corresponding period last year, the country’s production found lower by 11,000 tonnes or 2.74 per cent from 412,000 tonnes. The accumulative primary aluminium production in Africa in the first half of 2020 totalled 803,000 tonnes, found IAI. This stood lower by 20,000 tonnes or 2.43 per cent from 823,000 tonnes in H1 2019. Africa’s aluminium production in the last month stood at 129,000 tonnes after declining by 10,000 tonnes from 139,000 tonnes in May. In April, the country...
UAE's aluminium extrusion exports to US continue to uptrend in April by over 80%
The latest US Geological Survey data for April 2020 shows an expansion in aluminium crude metal and alloys exports from the United Arab Emirates to the US. The United Arab Emirates exported 38,400 tonnes of aluminium extrusions in April, compared to 20,400 tonnes in March 2020. So, month-on-month, the exports recorded a surge of 18,000 tonnes or 88.24 per cent. When compared to the same period last year (April 2019), the UAE’s aluminium crude metal and alloys exports to the US were found 24.27 per cent higher from 30,900 tonnes. As the above graph shows, the United Arab Emirates’ aluminium crude metal and alloys exports to the US stood at 10,100 tonnes in February 2020, sharply down by 20,900 tonnes or 207 per cent from 31,000 tonnes in January 2020. The exports in March grew by 10,300...
