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.
Vehicle scrappage policy is in the final stage of approval, awaited for Union Cabinet’s nod: Nitin Gadkari
Speaking at the inauguration of Auto Expo 2020 on Thursday, July 2, Union road transport and highways minister Nitin Gadkari confirmed that the long-delayed vehicle scrappage policy is in its last lap and to be rolled out soon. Two days before Mr Gadkari said this, finance minister Nirmala Sitharaman reported that several rounds of inter-ministerial consultation related to the vehicle scrappage policy are already done. The policy is now close to finalisation. The proposed policy in India, which is seen as an attempt to eradicate the fleet of aged, polluting commercial vehicles and boost demand for new cars, is in progress for over the past six months. Gadkari said the policy is approved from his end, and now it has to get a nod from the Union Cabinet. "It is in the final stages and I have...
Three-month LME aluminium fell nearly 1% to end at $1612/t; SHFE price up for the fifth straight day
The US dollar was hemmed into a narrow range on Friday, while European stocks closed lower as concern over a spike in US coronavirus infections tempered the optimism arising from upbeat economic data out of the US, China and the eurozone. Three-month LME aluminium fell 0.74 per cent to end at a session-low of US$ 1,612 per tonne on Friday, July 3. It advanced 0.91 per cent on the week, marking the third straight weekly gain. It is likely to move between US$1,600-1,640 per tonne today. As of Friday, July 3, LME aluminium cash (bid) price and LME official settlement price declined from US$ 1601.50 per tonne to US$ 1581.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1614 per tonne after decreasing by US$ 7.5 per tonne from the previous day. Dec 21 bid price and Dec 21...
Norsk Hydro: Production restored at Paragominas bauxte mine and Alunorte alumina refinery
Power supply to Hydro’s Paragominas bauxite mine, in the state of Pará in northern Brazil, has been reportedly restored, allowing the production at the mine to recommence. The three transmission towers that overturned, leading to a power outage and temporary production halt at Paragominas mine, have been repaired and restored within the expected time frame, as per the report. As a result, the production, which was cut at Hydro’s Alunorte alumina refinery, has also been reinstated. About 50-70 per cent of the total capacity was reduced at Alunorte refinery due to bauxite production halt at its primary bauxite ore supplier Paragominas mine, in a bid to balance the inventories. The report states that there were no personnel injuries, damage to other production assets or impact on the nearby...
LME aluminium price showed bullish sentiment this week on opening stock decline, SHFE trended up at $2022/t
The US dollar started the week on a negative footing and edged lower on Monday, June 29, and extended the downfall on Wednesday, July 1. Three-month LME aluminium closed higher on Monday, June 29, for the second consecutive session, ending at US$ 1,613 per tonne, up 0.97 per cent on the day. On Tuesday, June 30, it hovered in a broad range between US$1,615-1,626 per tonne and ended higher on the day at US$1,618 per tonne. However, on the next day, the dollar index touched a one-week low of 97.025 before closing at 97.153. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, June 29, at US$ 1589 per tonne, an increase of US$ 7 per tonne from US$ 1582 per tonne on Friday, June 26. Continuing to grow, the prices on Tuesday, June 30, stood at US$ 1602...
Adbri’s shares nosedive 25% on Alcoa’s decision of lime supply contract termination
Since the time Alcoa declared its decision to not renew a long-standing lime supply contract with Adbri-owned Cockburn Cement, Adbri started seeing a plunge in its shares. According to the report, the company’s share price closed 25 per cent lower on Friday at $2.35. Alcoa’s decision is believed to have stripped $515 million from the value of the company, formerly known as Adelaide Brighton. Lime is a strategic material needed for alumina refining, and Alcoa had almost 50-year uninterrupted supply relationship with Adbri for sourcing lime. Also, Alcoa’s decision to terminate the contract is estimated to risk up to 50 jobs, including contractors at Adbri. The contract used to contribute $70 million to Adbri's annual revenue. The company said it would not possible to quantify the full...
US aluminium crude metal and alloys imports fall 17% in Q1 2020, imports from Canada up 35%
In the first quarter of 2020 (January-March), the United States imported 740,000 tonnes of aluminium crude metal and alloys, compared to 895,000 tonnes in the first quarter of the previous year, found the US Geological Survey. Hence, the import volume in Q1 2020 registered a decline of 155,000 tonnes or 17.32 per cent over the year. In March 2020, the United States’ imports of aluminium crude metal and alloys stood at 246,000 tonnes, down by 66,000 tonnes or 21.15 per cent from 312,000 tonnes in March 2019. But on a month-on-month basis, the March imports rebounded by 38,000 tonnes or 18.27 per cent from 208,000 tonnes. In February, however, the United States aluminium crude metal and alloys imports decreased month-on-month by 139,000 tonnes or 40 per cent from 347,000 tonnes in January....
COVID-19 Recovery: New-vehicle sales in China rise for the third consecutive month in June, CAAM estimates
According to estimates released by the China Association of Automobile Manufacturers on Thursday, July 2, Chinese new-vehicle sales continued to grow for the third consecutive month in June 2020, as the industry recovery from COVID-19 crisis gained speed in the past three months. Based on the data provided by key automakers, CAAM estimates that the industry-wide sales in June have escalated by 11 per cent to 2.28 million tonnes. With this, the total industry-wide sales are estimated to stand at 10.24 million in the first six months of 2020, marking a drop of 17 per cent from a year earlier, added the trade group. After a year-on-year shrink of 42 per cent in the first quarter of 2020, China’s new-vehicle market started rebounding in April with sales rising 4.4 per cent year over year. In...
Chinese alumina spot price marks second-highest growth this year climbing RMB46/t, A00 aluminium ingot price shows restraint
The average alumina spot price in China has recorded a significant hike for the fourth day in a row, higher from the earlier three days, found Shanghai Metals Market. SMM data shows the price has climbed by RMB 46 per tonne or 2.01 per cent to stand at RMB 2,333 per tonne, as of Friday, July 3, marking the second-highest growth this year since April 20 when the alumina spot price had increased by RMB 51 per tonne from RMB 2,064 per tonne to RMB 2,115 per tonne. In the east, the average alumina spot price has increased by RMB 30 per tonne to clock at RMB 2,290 per tonne, while that in the central and north has surged by RMB 55 per tonne to RMB 2,345 per tonne. In the south, however, the alumina price has remained restrained at RMB 2,520 per tonne. The imported alumina price has registered...
Hindalco again increases its aluminium prices by 1% w.e.f July 1 in line with rallying LME prices
Hindalco Industries Limited has increased its aluminium products prices by again 1 per cent for the second consecutive time, with effect from July 1, 2020. With the latest hike, the company’s aluminium ingot price has come in at INR 139,750 per tonne compared to INR 138,000 per tonne on June 27, indicating a hike of INR 1,750 per tonne or 1.27 per cent over the week. Hindalco’s aluminium wire rod price and billet price, on the other hand, are respectively standing at INR 150,850 per tonne and INR 146,850 per tonne, marking growth of INR 1,750 per tonne or 1.17 per cent and 1.21 per cent from INR 149,100 per tonne and INR 145,100 per tonne on June 27. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange....
Garnalex innovates and invests amidst COVID-19 crisis, soon to launch revolutionary aluminium window system
Even amidst the lockdown and economic disruptions due to COVID-19, Garnalex has reportedly continued to invest in new innovative aluminium window and door systems. As per the report, Garnalex is on track to launch its revolutionary beadless aluminium window system Sheerline Classic in July, followed by Sheerline’s Prestige window and door system at the end of the summer. The latest investment in Sheerline includes an integrated 85,000 ft2 assembly line, warehouse, and control centre. Besides, the company has expanded its fleet of Combilift forklift trucks, which, together with GarnerSys software operational management system, will ensure higher efficiency in Garnalex’s factories, warehousing, and logistics. Garnalex has also appointed an industry veteran Tony Basile who will work...
Aluminium billet inventories increase by 6,900 tonnes week-on-week due to higher stock arrivals
Aluminium billet inventories in China have increased this week due to higher arrivals, found Shanghai Metals Market. SMM data shows the stocks of 6063 aluminium billet have rebounded by 6,900 tonnes week-on-week across five major consumption areas to stand at 73,200 tonnes, following a decline of 5,200 tonnes to 66,200 tonnes last week, June 24. The chart below indicates the current status of aluminium billet inventories across China in more details: Except Foshan, the hike in aluminium billet inventories has touched upon all the major Chinese markets this week. In Foshan, the stocks have declined by 4,800 tonnes to stand at 21,200 tonnes. In Wuxi and Nanchang, the inventories have hiked by 3,200 tonnes and 3,100 tonnes, respectively, to come in at 17,900 tonnes and 11,200 tonnes, while...
Singapore trying to boost aluminium packaging waste recycling, rolls out thirty-four new reverse vending machines
Thirty-four new reverse vending machines have been added to the existing network of sixteen at locations islandwide in Singapore. The new machines that accept plastic and aluminium containers and dispense discount vouchers in return have been rolled at malls like IMM and Vedok Mall and complexes like the Toa Payoh and Jalan Besar Sports Centres. The new machines now give a wider range of reward choices to people who deposit receptacle plastic or aluminium cans. The rewards include free rides with bike-sharing firm Anywheel, CapitaLand malls vouchers, ActiveSG credit, and Sentosa Fun Pass tokens. On depositing ten drink containers into new machines, one can get a 50 cent ActiveSG credit, while existing machines dispense a 20 cent Fairprice discount voucher for every 20 containers...
New aluminium alloy powder by CNPC, benefits to Additive Manufacturing applications in automotive & aerospace
CNPC Powder, headquartered in Vancouver, Canada, with production facilities in China as well, has reported that it is producing a new range of aluminium alloy powder at its recently established Automated Metal Production (AMP) line. CNPC’s new range of aluminium powder is explicitly designed for Powder Bed Fusion (PBF) metal Additive Manufacturing. It is said to exhibit good flowability and sphericity with a few satellites. CNPC said its new aluminium alloy powder range would provide value to large-volume additive manufacturing applications in industries like automotive and aerospace. “We have achieved success with our AMP line and suite of Al alloys by redesigning atomisation beyond existing atomisation capabilities, such as VIGA, PREP and EIGA,” the company states. “This bottom-up...
COVID-19 Recovery: Victorian Greens suggests upgrading Portland Aluminium smelter to serve as “reverse battery”
The Victorian Greens, the Victorian state member party of the Australian Greens, has reportedly come up with a green COVID-19 recovery package, which consists of funding to upgrade Portland Aluminium smelter to allow it to act as a “reverse battery” while being powered by wind and solar. The Victorian Greens has suggested the Victorian government to reprioritise its subsidies of about $200 million for the Portland aluminium smelter and apply the funding to upgrade the smelter to be used as a “reverse battery”. This upgrade, according to the Victorian Greens, will allow Portland Smelter to use energy for aluminium production when there is a dearth of wind and solar energy supply. This is also believed to allow the smelter to strategically reduce its energy use when the energy supply-demand...
LME aluminium price closed lower at $1593.5/t amid opening stock decline; SHFE hiked for the third straight day
The US dollar slipped on Wednesday, July 1, in choppy trading, with the market having a modest appetite for risk-taking amid generally upbeat US data and improving European economic numbers. The dollar index, which tracks the greenback against basket of its peers, touched a one-week low of 97.025 before closing at 97.153. Three-month LME aluminium hovered in a broad range between US$ 1,615-1,626 per tonne before closing the day higher at US$1,618 per tonne, continuing the price rally. As of Wednesday, July 1, LME aluminium cash (bid) price and LME official settlement price, however, decreased from US$ 1602 per tonne to US$ 1593.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1614 per tonne after declining by US$ 7.5 per tonne from the previous day. Dec 21 bid price...
India-China skirmish effect: Delay in Haima Austomobile's new energy vehicle debut in India
Sino-China tension, in addition to the on-going economic disruption due to the COVID-19 crisis, may cause a further delay in Chinese automaker Haima Automobile’s entry in India. Earlier this year, Haima New Energy (a wholly-owned subsidiary of Haima Automobile Group) had entered into a technical collaboration with north India based Bird Group to launch an electric hatchback, likely to be named Bird Electric EV1, in the price range of INR 10 lakh upwards. The vehicle was initially scheduled to be unveiled in the first week of February 2020. But because of the coronavirus outbreak in China, senior contingent from Haima were unable to travel for the show, delaying the formalisation of the venture by a few weeks. This is the second attempt of Bird Group to set foot in the space of electric...
ALRO SA celebrating 55th Anniversary – a journey from 8,000tpa electrolytic aluminium to diversified product portfolio
ALRO S.A., one of the largest vertically integrated aluminium producers in Europe, is reportedly celebrating its 55th anniversary by being committed to the employees, partners, and clients for over the last five decades and standing as one of the strong pillars for the Romanian economy all through the years. ALRO started operating in 1965 and now has two divisions – primary and processed aluminium. After constantly advancing its technologies, ALRO has reached a production capacity of 265,000 tonnes of electrolytic aluminium per annum, while its cast-house capacity has reached 325,000 tonnes per annum. In a year, the company produces 100,000 tonnes of flat-rolled aluminium. ALRO has invested more than US$ 7000 million since privatization in technology and environmental protection. 'The...
Huaxing alumina refinery temporarily closes a production line, removes 50-80 thousand tonnes supply
Huaxing alumina refinery, located in Shanxi province of northern China, has temporarily closed one of its production lines following an equipment accident, reported several sources on Monday, June 29. According to market estimates, the alumina production line could take 20 to 30 days to return to full operation. Until then, it may remove around 50,000 to 80,000 tonnes of alumina supply from the Chinese domestic market. Huaxing alumina refinery was co-founded by Aluminum Corp of China (Chalco) and China Resources (Holdings) Co in 2010. It has a full alumina production capacity of 2.2 million tonnes per year. But until the beginning of June when the refinery resumed its idled 1.2 million tonnes per year to bring to full capacity, it was operating at 1 million tonnes per year. However, the...
