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.
Alcoa releases preliminary Q2 results, indicate growth in production and cash balance amid COVID-19 crisis
Alcoa Corporation, on Wednesday, July 8, released preliminary second-quarter results of 2020, which indicated that even amidst the COVID-19 pandemic, the company’s cash balance showed positive sentiment along with increased productivity and steadily growing operations. The cash balance is estimated to cross $950 million. But the revenue is expected to drop by 8 to 9 per cent from $2381 in Q1 2020 to $2100 - $2,175 in Q2, according to the information revealed. Year-on-year, the second quarter's revenue is estimated to decline by nearly 20 per cent, attributing to lower demand for aluminium value-added products. It is to be noted here that all the information is preliminary and based upon data available as of July 8. It is subject to change and finalisation based on the quarter-end closing...
Chinese alumina price growth slows down to RMB11/t, A00 aluminium ingot price jumps by RMB150/t
The average alumina spot price in China has continued to grow for the sixth straight day, albeit slower, by RMB 11 per tonne to come in at RMB 2,419 per tonne on July 9, found Shanghai Metals Market. In the central and north, the price has grown by RMB 10 per tonne to RMB 2,425 per tonne, while that in the east and south has remained restrained at RMB 2,400 per tonne and RMB 2,520 per tonne, respectively. Among other input costs, the price of aluminium fluoride has recorded a decline of RMB 200 per tonne to RMB 7,350 per tonne, following a restraint for over a month. The A00 aluminium ingot price has jumped by RMB 150 per tonne on July 9, after two consecutive declines from RMB 14,440 per tonne to RMB 14,320 per tonne. The aluminium ingot price is now standing at RMB 14,470 per tonne,...
Three-month LME aluminium scaled highest in four months to close at $1665/t; SHFE rebounded at $2062/t
The US dollar edged lower on Wednesday, July 8, as investors weighed hopes for a quick economic recovery against concerns about resurgence in the coronavirus pandemic, particularly in the US. Three-month LME aluminium scaled the highest level in four months, topping US$ 1,670 per tonne, before it pared some gains and closed the day higher at US$ 1,665 per tonne. As of Wednesday, July 8, LME aluminium cash (bid) price and LME official settlement price jumped from US$ 1596.5 per tonne to US$ 1619 per tonne. 3-months bid price and 3-months offer price stood at US$ 1651 per tonne, significantly up by US$ 21 per tonne from US$ 1630 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1743 per tonne compared to US$ 1726 per tonne. The LME aluminium opening stock...
Hindalco increases its aluminium ingot price by 1 per cent to INR138250/t with effect from July 8
Following the cut on Saturday, July 4, Hindalco Industries Limited has increased its aluminium ingot price with effect from Wednesday, July 8. With the latest hike, the company’s ingot price has come in at INR 138,250 per tonne compared to INR 136,750 per tonne on July 4, meaning an increase of INR 1,500 per tonne or 1.1 per cent. Hindalco is selling its aluminium wire rods and billets at INR 149,350 per tonne and INR 145,350 per tonne, respectively, up by INR, 1,500 per tonne or 1.per cent from INR 147,850 per tonne and INR 143,850 per tonne, as of July 4. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium are down by over 9 per cent so far in 2020 due to the...
Nalco’s aluminium ingot price down by over INR 2000/t after two consecutive hikes
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and product prices with effect from Wednesday, July 8, following two consecutive hikes on June 20 and July 1. Nalco’s aluminium ingot price has been reduced by INR 2,100 per tonne or 1.5 per cent to INR 138,050-141,550 per tonne. After the last marginal hike of INR 100 per tonne on July 1, the company’s aluminium ingot price was in the range of INR 140,150 – 143,650 per tonne. Nalco’s aluminium billet price after the latest cut has come in at INR 141,750-144,150 per tonne, down by INR 1850-2100 per tonne from INR 143,600- 146,250 per tonne, as of July 1. Nalco’s aluminium wire rod price has been decreased from INR 144,750-148,000 per tonne to INR 141,550-145,900 per tonne. Indian aluminium producers generally link...
Hydro ramps up aluminium recycling plant in Azuqueca to grow Hydro CIRCAL production
Norsk Hydro has announced today, on July 8, that its aluminium recycling plant in Azuqueca, Spain is ramped-up and all set to start producing the sought-after recycled aluminium Hydro CIRCAL. Hydro says the project has been delayed due to the COVID-19 pandemic, but delivered on budget and with zero injuries. Hydro announced the news after receiving the certificate for production from independent risk management and quality assurance company DNV-GL on July 7, 2020. Eivind Kallevik, Executive Vice President of Primary Metal in Hydro, commented: “Hydro CIRCAL has gotten a lot of traction in the market and this is an important step to meet the growing demand for low-carbon products. Getting Azuqueca’s production up and running is truly a combination of sustainability and profitability.” By...
Brazil’s alumina export registers slower year-on-year growth in June due to lower supply from Alunorte
According to a recent report from Brazil’s economy ministry released on Monday, July 6, alumina exports from Brazil increased in June, albeit at a slower pace than the earlier month. Brazil’s alumina exports in June totalled 679,914 tonnes, up 4.6 per cent year-on-year from 650,229 tonnes. On a month-on-month basis, the exports in June fell by 12.8 per cent from 779,694 tonnes. As per the report, the lower export volumes were attributed to a fall in supply from Alunorte refinery in June. Movement restrictions imposed due to containing the spread of the novel coronavirus could be a reason for the fall in supply from the Alunorte refinery. Also, due to the temporary production half at Hydro’s Paragominas bauxite mine, in the state of Pará in northern Brazil, owing to power outage, about...
EGA marks a major milestone: Its Al Taweelah alumina refinery achieves nameplate capacity in a year
Emirates Global Aluminium, on July 8, has announced the achievement of nameplate capacity at its new Al Taweelah alumina refinery for June, a major milestone achieved just 14 months after the production began at the refinery in April 2019. This marks a world-class performance because usually the four-step alumina processing at new refineries takes several years or more to achieve a month of sustained production at design capacity at each step of the process. EGA has reported no injuries during the production at refinery. Zaher Alhabtari, Executive Vice President Upstream and Capital Projects at EGA, said today: “We began preparing for operations back in October 2013, when Al Taweelah alumina refinery was still on the drawing board. Our careful planning has enabled us to deliver a...
Vedanta Ltd increases its aluminium ingot and billet prices by INR1250/t with effect from July 8
Vedanta Limited has increased its aluminium ingot and aluminium billet prices with effect from July 8, following the two consecutive cuts on July 1 and July 4. The aluminium ingot price has been raised by INR 1,250 per tonne or 1 per cent to INR 136,750-149,750 per tonne. After the last cut, Vedanta’s aluminium ingot price was in the range of INR 135,500-148,500 per tonne. With the latest hike, Vedanta's aluminium billet price has come in at INR 144,750 per tonne, up by INR 1,250 per tonne or 1 per cent from INR 143,500 per tonne, as of July 4. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange, which in the last two days recorded growth from US$ 1581.5 per tonne to US$ 1596.5 per tonne. However, the...
Average alumina spot price in China expands growth to stand at RMB2408/t, A00 aluminium ingot price declines higher
According to Shanghai Metals Market, the average alumina spot price in China has recorded a higher hike today, on July 8, by RMB 38 per tonne to stand at RMB 2,408 per tonne. In the east, the alumina price has grown by RMB 50 per tonne to RMB 2,400 per tonne, while that in the central and north has increased by RMB 35 per tonne to come in at RMB 2,415 per tonne. In the south, the price has continued to remain restrained at RMB 2,520 per tonne. The imported alumina price has grown by RMB 50 per tonne to RMB 2,350 per tonne, but the price of Australian alumina FOB has remained muted at US$ 264 per tonne. The A00 aluminium ingot price, on the other hand, has continued to decline, rather at a higher pace, from RMB 14,420 per tonne to RMB 14,320 per tonne, found SMM. The average prices are...
LME aluminium price recorded a slight rise to close at $1596.5/t; SHFE dipped after six declines in a row
The US dollar inched higher against a basket of currencies on Tuesday, July 7, holding above the near two-week low hit in the previous session, as investors turned uneasy over new coronavirus flare-ups and local lockdowns in some countries. Three-month LME aluminium held onto one-month highs on Tuesday, ending flat at US$ 1,635 per tonne in choppy trading. It is likely to continue to move between US$ 1,620-1,660 per tonne today. As of Tuesday, July 7, LME aluminium cash (bid) price and LME official settlement price increased by US$ 3.5 per tonne to stand at US$ 1596.5 per tonne. 3-months bid price and 3-months offer price stood at US$ 1630 per tonne, up by US$ 4 per tonne from the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1726 per tonne compared to US$ 1725 per...
Lancefield Recycle Centre launched, accepting aluminium coffee pods to oral care products
Lancefield Recycle Centre has been reportedly launched last week, where people in the neighbourhoods can dispose of and recycle aluminium coffee pods to oral care products such as electric toothbrush. Also, items like bread tags, writing instruments, dish washing and air products, contact lenses and cases, and batteries can be disposed of and recycle at this newly launched recycle centre. Coffee pod brands accepted at this centre are Nescafe Dolce Gusto and Espresso. LNH coordinator Vivien Philpotts said the Neighbourhood House was working in partnership with Macedon Ranges Sustainability’s Waste and Recycling group and TerraCycle to deliver the project. The Neighbourhood House initiative enables residents to ethically dispose of normally hard-to-recycle waste through simple sorting at...
Aluminium stocks at Japan ports continue to grow by 9.5% M-o-M in May 2020
Aluminium stocks at three major ports in Japan- Yokohama, Nagoya, and Osaka, extended growth by 9.5 per cent or 29,500 tonnes month-on-month at the end of May, found Marubeni Corporation. At the end of April, the stocks at these Japanese ports were 309,000 tonnes, which in the next month increased to 338,500 tonnes. Aluminium stocks (in tonnes) at the three major Japanese ports in May were as follows: So, as the above chart indicates, the aluminium stocks at Yokohama port in May 2020 increased by 6,200 tonnes or 3.86 per cent month-on-month from 160,500 tonnes in April to 166,700 tonnes. Year-on-year, the stocks at Yokohama grew by 13,700 tonnes or 8.95 per cent from 153,000 tonnes. At Nagoya port, the aluminium stocks increased by 22,800 tonnes or 17.07 per cent month-on-month from...
Alcoa Warrick operations marks 60-year milestone, a pioneer in the aluminium food and beverage container market
Alcoa Warrick operations has passed 60-year milestone, undergoing a series of constant growth and evolution. Facilities have been added and modified over the years, while thousands of employees have come and gone. Three generations, going on four, have benefitted from Warrick operations’ presence in the community. In the last six decades, the US integrated aluminium facility has churned over 28 billion pounds of metal. It began on June 9, 1960, with the first molten metal siphoned from pot No. 7, trucked over to a new ingot plant and poured into moulds. Warrick Operations, consisting of a smelter, rolling mill, and power plant, is North America’s largest producer of coated container sheet for the food and beverage industry. “Our metal has helped and continues to help provide food and...
China allows 209,600 tonnes of additional aluminium scrap import in the ninth batch of quotas, highest since April
China’s Ministry of Ecology and Environment has issued the ninth batch of aluminium scrap import quotas for 2020 on Monday, July 6, according to Shanghai Metals Market report. The Ministry has confirmed that the ninth batch of quotas would allow 209,660 tonnes of additional high-grade aluminium scrap imports to China, the largest since April. In the seventh and eighth batches of quotas, the authorities had allowed 1,480 tonnes and 5,840 tonnes of additional scrap to enter China. With the latest expansion, the cumulative quotas for this year have reached 693,659 tonnes, according to Shanghai Metals Market. China is expanding its aluminium scrap import quotas anticipating the usage of secondary aluminium to replace the primary metal. At China Aluminium Processing Industry Summit 2020,...
Chinese alumina spot price expands by RMB35/t on market sentiment boost, A00 aluminium ingot price down by RMB20/t
The average alumina spot prices in China have continued to rally upon the market boost on Chalco’s announcement of alumina production cut, found Shanghai Metals Market. On Tuesday, July 7, the average alumina spot price has expanded by RMB 35 per tonne to stand at RMB 2,370 per tonne. In the central and north, the average alumina price has also recorded a hike of RMB 35 per tonne to hover at RMB 2,380 per tonne, while that in the east has grown by RMB 50 per tonne to come in at RMB 2,350 per tonne, according to SMM data. In the south, however, the price has remained restrained at RMB 2,520 per tonne. The imported alumina price has jumped by RMB 25 per tonne to stand at RMB 2,300 per tonne, but the Australian alumina FOB price has remained muted at US$ 264 per tonne. However, despite the...
COVID-19 Impact: Japanese aluminium premium stands lowest at $79/since December quarter 2016
According to a recent report from Reuters, some Japanese aluminium buyers have agreed to pay $79 per tonne of premium to a global producer for July to September shipments. Compared to the previous quarter premium, it is down by 3.7 per cent, attributing to the lower demand due to the COVID-19 pandemic. In the April-June quarter, the premiums that Japan had agreed to pay were $82 per tonne. Japan is Asia’s largest aluminium importer. The premium it agrees to pay each quarter for primary aluminium shipments over the benchmark London Metal Exchange (LME) cash price sets the pricing tone for the region. The downfall in premiums for the September quarter marks the fourth straight quarterly decline and the lowest since the October-December quarter in 2016. While some Japanese buyers have agreed...
EDS drags New Zealand Aluminium Smelters to court for premix toxic waste storage
The Environmental Defence Society has reportedly filed Declaration Proceedings in the Environment Court today, July 6, against New Zealand Aluminium Smelters Limited concerning the storage of over 10,000 tonnes of ouvea premix at sites on Kana Street, Mataura, Southland. New Zealand Aluminium Smelter while processing aluminium produces a by-product called dross. Dross can then be subjected to an aluminium recovery and recycling process, which generates one of the outputs called ouvea premix, a potential resource for fertiliser manufacturing and steel production. “We are concerned that if the stored ouvea premix gets wet, it produces ammonia gas which is toxic to humans. It can also harm aquatic life. There are residences nearby as well as a Te Kohanga Reo child care centre,” said EDS CEO...
