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.
China’s average alumina price extends growth to RMB2220/t; A00 aluminium ingot price up by RMB20/t
The average alumina spot price in China has grown for the second consecutive day by RMB 7 per tonne or 0.32 per cent to stand at RMB 2,220 per tonne, as of June 1, found Shanghai Metals Market. In the east, the alumina price has jumped by RMB 25 per tonne after a week-long restraint, with average prices estimated to hover between RMB 2,180 per tonne and RMB 2,250 per tonne. In the central, the alumina price has increased by RMB 15 per tonne to RMB 2,215 per tonne. The average prices there are likely to range between RMB 2,200 per tonne and RMB 2,230 per tonne. In the north and south, however, the prices have remained restrained at RMB 2,225 per tonne and RMB 2,520 per tonne, respectively. The Australian alumina FOB price has gained US$ 4 per tonne to stand at US$ 250 per tonne on June 1,...
Royal Huisman reveals new lightweight aluminium 46-metre cruiser sloop
Dutch shipyard Royal Huisman has reportedly revealed a new lightweight aluminium 46-metre high-performance cruiser sloop – Nauta Reichel Pugh 151. As per the report, Nauta Design has produced the exterior and interior styling of the yacht, while Reichel/Plugh has designed the yacht’s naval architecture. Rondal did carbon Panamix rig, and Royal Huisman provided its most-qualified engineering and construction skills for the optimal result. Royal Huisman Project 405 is built of lightweight aluminium and carbon composite, and is believed to present formidable competition to existing carbon yachts. Royal Huisman promptly adopted intelligent lock-down measures implemented in the Netherlands since mid-March 2020. These measures allow the shipyard team to continue working in strict observance of...
Japan aluminium stocks climb 4% M-o-M in April 2020
Following a drop of 0.4 per cent at the end of March, Aluminium stocks at three major Japanese ports rose 12,000 tonnes or 4 per cent by April end, trading house Marubeni Corp reported on Friday, May 29. In March 2020, the stocks were 297,100 tonnes, which in the next month increased to 309,000 tonnes. Marubeni collects stock related data from the ports of Yokohama, Nagoya and Osaka. Aluminium stocks (in tonnes) at the three major ports in April were as follows: So, as the above chart indicates, the aluminium stocks at Yokohama port in April 2020 increased by 4,000 tonnes or 2.56 per cent month-on-month to stand at 160,500 tonnes. Year-on-year, the stocks grew by 9,600 tonnes or 6.36 per cent from 150,900 tonnes in April 2019. At Nagoya port, the aluminium stocks in April increased by...
LME aluminium price recorded growth this week to US$1515/t; SHFE increased to US$1864/t
The US dollar started the week on May 25 with a hike against a basket of rivals. On Tuesday, the dollar slipped as risk sentiment returned to the market amid a reopening world economy and subdued demand for the safe-haven currency. On Wednesday and Thursday, it plunged further to a two-month trough against a basket of currencies. On Monday, May 25, the London Metal Exchange was closed for spring bank holiday. On Tuesday, the three-month LME aluminium climbed and found steady support from US$ 1,520 per tonne ending the day 1.2 per cent higher at US$ 1,521.5 per tonne. On Wednesday, it advanced to US$1,534 per tonne and hit a two-month peak of US$1,541 per tonne on Thursday, May 28. This week during May 25-29, both LME aluminium cash (bid) price and LME official settlement price edged...
Primary aluminium inventories in China continue to fall sharply by 86,000 tonnes on May 28
China's social inventories of primary aluminium ingots have expanded their decline today, on May 28, by 7,000 tonnes from the previous week, found Shanghai Metals Market. Last week, on May 21, the inventories plunged by 79,000 tonnes, whereas this week they fell by 86,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to stand at 893,000 tonnes. This continuous fall in primary aluminium inventories could be attributed to the lower supplies to warehouses in comparison with consumption. The chart below indicates the current status of primary aluminium inventories across China in more details: Wuxi, among all the major Chinese cities, has seen the highest decline of 48,000 tonnes to stand at 354,000 tonnes on May 28, followed by the decline of 21,000 tonnes in...
Chinese aluminium billet inventories extend downfall over the week ending May 28
According to Shanghai Metals Market, the aluminium billet inventories in China have continued to decline this week ending Thursday, May 28, driven by healthy demand and limited arrivals of stocks to warehouses. SMM data shows the aluminium billet inventories have decreased by 15,600 tonnes over the week across five major consumption areas to stand at 77,100 tonnes. Last week, on May 21, the aluminium billet inventories were at 92,800 tonnes after declining by 20,000 tonnes from the week ago. This means the decline this week has slowed down by 4,400 tonnes. The chart below indicates the current status of aluminium billet inventories across China in more details: So, as the above chart shows, Foshan has seen the highest fall of aluminium billet inventories by 9,900 tonnes to stand at...
Chinese aluminium industry’s prosperity index plunged to the lowest in April 2020
Chinese aluminium industry’s prosperity index declined to the lowest in April 2020 since the first report launched in November 2015, according to the latest report released by China Nonferrous Metals Industry Association. Decreasing by 1.2 points, the prosperity index of China’s aluminium industry came in at 17.8 points in April, shows the report. Despite the anticipated growth in China’s primary aluminium demand in the coming months along with the estimated recovery in economic activity, the index is likely to remain low for some time to come. This could be primarily due to the uncertainty of the lasting impact of COVID-19 pandemic on the downstream aluminium demand. The COVID-19 outbreak already affected the fixed asset investment in the aluminium smelting industry, leading to a fall by...
The NPC meetings in China propose development measures for NEVs; Suggest extending national subsidies and tax exemption
On Friday, May 22, China held the most important political event of the year - The National People's Congress (NPC) meetings, also known as “Two Sessions” in Chinese. At the annual gathering, the NEV-related proposals suggest to extend the national subsidies and purchase tax exemption, promoting the popularity of NEVs, opening up the circulation of used NEVs, and facilitating the upgrading of NEV technologies. The suggestions were also on the development of NEVs and related policy support. The China National Democratic Construction Association tabled this proposal, highlighting the acceleration of recycling used NEV power batteries including adjusting the design of top-level power battery recycling, the recycling management system, R&D of recycling technology, and recycling business...
Alumina price drops after nearly two weeks of restraint; A00 aluminium ingot price grows by RMB100/t
According to Shanghai Metals Market, the average spot price of alumina has dropped today, on May 28, after remaining restrained at RMB 2,206 per tonne for almost two weeks during May 14-27. The price is now hovering at RMB 2,204 per tonne, registering a decline of RMB 2 per tonne. However, except the north of China where the price has decreased by RMB 5 per tonne to RMB 2,210 per tonne, the average alumina spot price in the east, central, and south has remained unchanged at RMB 2,190 per tonne, RMB 2,200 per tonne, and RMB 2,520 per tonne, respectively. Also, the prices of imported alumina and Australian alumina FOB have remained restrained at RMB 2,190 per tonne and US$ 246 per tonne. But despite the drop in alumina price, the A00 aluminium ingot price has recorded growth today of RMB...
Vedanta cuts aluminium prices by more than 1.5% after three consecutive hikes last week
After raising aluminium prices for the three times in a row, Vedanta has reduced both aluminium ingots and billets prices as of Wednesday, May 27. After the cut, Vedanta’s aluminium ingot prices are ranging between INR 131,750 per tonne and INR 144,750 per tonne, down by INR 2,250 per tonne or 1.68 per cent from INR 134,000-147,000 per tonne on May 22. Vedanta’s aluminium ingots prices on May 22 were up by INR 2,000 per tonne or 1.5 per cent from INR 132,000-145,000 per tonne on May 20. With the latest cut, Vedanta’s aluminium billets prices have lowered to INR 139,750 per tonne compared to INR 142,000 per tonne on May 22. This means the billets prices have also been reduced by INR 2,250 per tonne. On May 22, Vedanta’s aluminium billets prices had increased by INR 2,000 per tonne from INR...
ALVANCE Aluminium appoints Guillaume de Goÿs as new Chief Operating Officer
ALVANCE Aluminium Group, GFG Alliance’s global aluminium division, has announced today, on May 27, that it has appointed Guillaume de Goÿs as new Chief Operating Officer. The primary responsibility of Mr Goÿs will be to drive the group’s expansion and synergies across its upstream and downstream activities. Guillaume de Goÿs is one of the notable figures in the French Aluminium Sector, with experience in Aluminium Dunkerque as Managing Director. He also served Carbone Savoie, Rio Tinto Alcan, and Michelin with senior roles in countries like Cameroon, Poland, the US, and Thailand. Commenting on the appointment, GFG Alliance’s Chief Operating Officer Arnaud de Weert said: “I am delighted to announce the appointment of Guillaume de Goÿs as ALVANCE’s new COO. Guillaume’s experience, forged...
US Commerce Department invites public inputs on 232 tariff exclusion on aluminium and steel
According to a recent report, the Commerce Department of the United States has asked for public inputs to streamline the exclusion process for tariffs and quotas on aluminium and steel imposed by the Trump administration in 2018. The department’s Bureau of Industry and Security has opened commentary today and will accept input on the process through July 10. This follows the Aluminum Association’s call for urgent reforms to the Commerce Department’s aluminum Section 232 tariff exclusion system. The Association had pointed out that the system was forcing US aluminium companies into conflict with customers and suppliers, adding layers of bureaucratic burden and providing a price advantage to foreign aluminum manufacturers. Commerce Secretary Wilbur Ross said, “The Department of Commerce is...
A00 aluminium ingot price drops by RMB10/t after two consecutive rises; Aluminium alloy(A356) price down by RMB50/t
According to Shanghai Metals Market, the A00 aluminium ingot price has declined by RMB 10 per tonne to stand at RMB 13,350 per tonne, as of Wednesday, May 27, after two consecutive rises from RMB 13,150 per tonne to RMB 13,360 per tonne. The average prices are expected to range between RMB 13,330 per tonne and RMB 13,370 per tonne, with spot contract to be traded at a premium price of RMB 70-110 per tonne. Foshan has seen the highest fall today of RMB 30 per tonne to RMB 13,520 per tonne, followed by the growth of RMB 20 per tonne in Shenyang to RMB 13,295 per tonne. In Chongqing and Linyi, the A00 aluminium ingot price has dipped by RMB 10 per tonne to RMB 13,380 per tonne and RMB 13,360 per tonne, respectively. However, since the downfall in A00 aluminium ingot price has not touched...
Three-month LME aluminium ended the day higher at US$1,521.5/t; SHFE decreased to US$1847/t
The US dollar slipped on Tuesday as risk sentiment returned to the market amid a reopening world economy and this subdued demand for the safe-haven currency. Three-month LME aluminium climbed and found steady support from US$ 1,520 per tonne ending the day 1.2 per cent higher at US$ 1,521.5 per tonne. Bullish prospects for demand may keep prices between US$ 1,500 per tonne and US$ 1,540 per tonne today. As of Tuesday, May 26, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1486 per tonne, up by US$ 13 per tonne from US$ 1473 per tonne on Friday, May 22. 3-months bid price and 3-months offer price increased from US$ 1498.50 per tonne to US$ 1513 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1629.50 per tonne compared to US$ 1616 per tonne...
US aluminium crude and alloy imports from Australia record a 52% MoM fall in February: USGS
According to the United States Geological Survey data, the US aluminium crude and alloy imports from Australia saw a downfall in February by 51.75 per cent month-on-month to stand at 9,650 tonnes. Year-on-year, the imports were down by 49.74 per cent. In February 2019, the US aluminium crude and alloy imports from Australia were 19,200 tonnes. In January 2020, the United States aluminium crude and alloy imports from Australia were 20,000 tonnes, up 71 per cent from 11,700 tonnes in December. In November 2019, the imports were 13,600 tonnes, meaning December saw a drop of 14 per cent from the previous month in the United States aluminium crude and alloy imports from Australia. The United States total aluminium crude and alloy imports in January and February combined were 29,400 tonnes,...
COVID-19 Impact: MP automobile industry pushes government for stimulus and MSME status
In the wake of the plummeting auto sales across the country over the past two months due to the COVID-19 pandemic, the automobile industry in Madhya Pradesh has appealed the government to provide stimulus to the sector and grant it the status of MSME (micro small medium enterprises). The nationwide lockdown since March 25 induced losses of over INR 1,000 crore in GST and INR 30 crore in road tax. On an average, 7,000 two-wheelers and 2,000 four wheelers have been sold in Bhopal. The lockdown served a fatal blow to the industry which was already witnessing a slow business before the COVID-19 outbreak. This is also believed to have affected the metal industry, including aluminium. Due to the lower demand and purchase of automobiles, many auto companies have cut production, leading to the...
Operating rates at China's aluminium processors remained stable last week on strong domestic demand
Shanghai Metals Market, after surveying 41 major aluminium processors in 12 provinces revealed that the average operating rates increased 1.3 percentage points on weekly basis to 78.8 per cent last week. This growth was primarily driven by sustained strong consumption from the construction and medical sectors. Demand for aluminium foil used in air-conditioners, beverage and beer packaging was found increased too, leading to the hike in aluminium processors’ operating rates. However, on the other hand, the impact from weaker export orders has emerged, according to SMM, especially for aluminium plates/sheets, resulting in lower operating rates at aluminium producers. Operating rates of primary alloy producers remained stable at 55 per cent, whereas operating rates at aluminium wheel plants...
LME was closed on Monday for spring bank holiday; SHFE price expanded growth to US$1854/t
The US dollar edged higher against a basket of rivals on Monday, while oil prices eased on concerns over rising tensions between the US and China over Beijing’s plans to impose security laws on Hong Kong and the possibility of sanctions from Washington. The London Metal Exchange was closed on Monday for spring bank holiday. On Friday, May 22, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1473 per tonne after declining from US$ 1487 per tonne on May 21. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE expanded its growth from US$ 1839 per tonne on Monday, May 25, to US$ 1,854 per tonne on Tuesday, May 26. The most-liquid SHFE July contract halted its increase at RMB 12,890 per tonne and trimmed some gains to close the day at RMB 12,840 per...
