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.
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...
Chalco’s executive demands bauxite-rich Shanxi to become major aluminium production hub
An executive from a closed smelting unit of state-run Aluminum Corporation of China Limited, popularly known as Chalco, has demanded bauxite-rich Shanxi to become a major aluminium production hub. China is by far the world’s biggest producer and consumer of bauxite, the main ore source of aluminium. Gao Bingwei, director of the innovation studio at Chalco unit Shanxi Huasheng and a delegate at the National People’s Congress (NPC) in Beijing, pointed out that the Northern Province houses 1.5 billion tonnes of bauxite reserves, the highest within China. However, Shanxi only has aluminium smelting capacity of 1.21 million tonnes per year, accounting for 3 per cent of China’s total aluminium capacity, despite being the second-biggest alumina producing region, said Gao, according to the...
Primary aluminium inventories expand decline over the weekend to 924,000 tonnes
According to Shanghai Metals Market, social inventories of primary aluminium ingots have expanded decline over the weekend ending May 25, owing to stable demand and limited arrivals of stocks to warehouses. SMM data found that the inventories of primary aluminium have decreased by 55,000 tonnes across eight major consumption areas in China, including SHFE warrant, to stand at 924,000 tonnes, as of Monday, May 25. On last Thursday, May 21, the primary aluminium inventories were at 979,000 tonnes after declining by 79,000 tonnes. This represents the fact that the decline in primary aluminium inventories over the weekend slowed by 24,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: Wuxi has seen the highest fall in...
A00 aluminium ingot price begins the week with a hike of RMB110/t; Aluminium alloys prices grown by RMB100/t
Following the steep decline of RMB 310 per tonne on Friday, May 22, the A00 aluminium ingot price begins the week on Monday, May 25, with a rise of RMB 110 per tonne to reach at RMB 13,260 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 13,240 per tonne and RMB 13,280 per tonne, with spot contract to be traded at a premium price of RMB 80-120 per tonne. Among the major Chinese states, Linyi has seen the highest growth of RMB 240 per tonne on May 25 to stand at RMB 13,310 per tonne, followed by the rise of RMB 160 per tonne in Foshan to come in at RMB 13,460 per tonne. In Hangzhou and Tianjin, the A00 aluminium ingot price has increased by RMB 140 per tonne to RMB 13,280 per tonne, while the price in Wuxi and Shenyang is standing at RMB 13,260...
Equatorial Guinea Ministry of Mines signs first five mining contracts with three companies
Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) has reportedly signed five mining contracts for the first time in its history. This followed the heels of the conclusion of the country’s inaugural mining bidding round last year. The contracts have been signed with three different companies, which include one gold exploration contract in Block I with Manhattan Mining Investment, three contracts with Blue Magnolia in Block B for bauxite and precious metals and Block K and H for gold and precious metals, base metals, and rare earth minerals. One of the five contracts also includes a prospecting contract with Shefagold in Blocks N and O for platinum, palladium, silver, magnesium, phosphorus, chrome, copper, iron ore, and other associated minerals. According to the Ministry of...
China’s bauxite imports record an all-time high at 28.41 million tonnes in Q1 2020
China’s bauxite imports rose to a record high in the first quarter of 2020, owing to greater demand and lower sea freight costs, found China customs data under HS code 26060000. In the first three months of 2020, China imported 28.41 million tonnes of bauxite, the highest quarterly import volume on record. Compared to the bauxite imported in the fourth quarter last year, the volume in Q1 2020 was up by 26.01 per cent, and when compared to the first quarter of 2019, it was higher by 9.99 per cent. The Republic of Guinea remained the top bauxite exporter to China, accounting for nearly half of China’s total bauxite imports. Guinea exported 13.37 million tonnes of bauxite to China in the first three months. Australia and Indonesia were the second and third top exporters, supplying 9.24...
Vedanta further increases its aluminium ingots and billets prices by INR 2,000/t with effect from May 22
Vedanta has further increased its aluminium ingots and billets prices, with effect from Friday, May 22. This marks the third consecutive rise in Vedanta’s aluminium prices. The prices of some aluminium ingots after the growth are hovering in the range of INR 134,000-147,000 per tonne, up by INR 2,000 per tonne or 1.5 per cent from INR 132,000-145,000 per tonne on May 20. Vedanta’s aluminium ingots prices on May 20 had also increased by 1.5 per cent from INR 130,500-143,500 per tonne on May 19. With the latest hike, Vedanta’s billets prices are now standing at INR 142,000 per tonne, as of May 22, an increase of INR 2,000 per tonne or 1.43 per cent from INR 140,000 per tonne on May 20. On May 19, Vedanta’s billets prices were INR 138,500 per tonne, meaning the billets prices on May 20 saw a...
Secondary aluminium processing project construction begins in Yunxian County, China
According to a recent report by Shanghai Metals Market, the construction of a 100,000 tonnes per year secondary aluminium processing project and a 60,000 tonnes per year waste battery treatment project began in Yunxian County in Southwest China’s Yunnan province on Tuesday, May 12. The total estimated investment for the secondary aluminium processing project is RMB 84.54 million, while that for the battery treatment project is RMB 95.94 million. As per the report, the secondary aluminium project will primarily produce secondary aluminium and casting alloy, and the battery treatment project will generate 2# lead, lead-base alloy, sodium sulphate, and plastic housing. The projects followed the commissioning of two more key projects of waste tire processing and high-purity alumina production...
