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.
Century Aluminium reports a 3% loss in net sales for Q1 2020; Adjusted EBITDA up by $14.8 million
Century Aluminium Company, on Thursday, April 30, announced the first-quarter results of 2020, reporting a loss of 3 per cent in net sales from $435.5 million in Q4 2019 to $421.2 in Q1 2020. Shipments stood flat at 202,905 tonnes in Q1, compared to 202,870 tonnes in Q4 last year. Century reported a net loss of $2.7 million for the first quarter of 2020 and $1.0 million net income on an adjusted basis, compared to a net loss of $4.8 million for the fourth quarter of 2019 and $9.0 million net income on an adjusted basis. The first-quarter results were negatively impacted by $3.7 million of non-cash exceptional items, including a $12.1 million lower of cost or net realizable value inventory adjustment (net of tax), offset by $8.3 million of unrealized gains on forward derivative contracts....
LME aluminium price lowered at US$1460.5/t on April 30 while opening stock remained flat
Benchmark aluminium price on London Metal Exchange dropped by US$ 3.5 per tonne from US$ 1464 per tonne to US$ 1460.5 per tonne, as of Thursday, April 30. Both LME aluminium cash (bid) price and LME official settlement price declined from US$ 1464 per tonne on April 29 to US$ 1460.5 per tonne on April 30. 3-months bid price and 3-months offer price also decreased from US$ 1504 per tonne to US$ 1498 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1624.5 per tonne compared to US$ 1629.50 per tonne on the previous day. The LME aluminium opening stock stood at 1346200 tonnes. Live Warrants totalled 1186625 tonnes, while Cancelled Warrants 159575 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1507.51per tonne. SHFE Aluminium Price Trend Shanghai...
“It is now important to continuously improve productivity to keep costs of production as low as possible for combatting COVID19 impact” - Antti Koulumies, Vice President, Aluminium Business Line, Outotec
Outotec provides industry benchmark technologies and life-cycle services for their customers in metals and mining, industrial water treatment, alternative energy, and chemical sector. Here, we have with us the company’s aluminium business Vice President Antti Koulumies to share how Outotec is coping up the COVID19 pandemic. Mr Koulumies says ensuring the wellbeing of the employees and stakeholders and innovating and improving operations to serve customers better are their key strategies now to sustain the business. Here is an excerpt from the brief interview: AlCircle : What are your initial thoughts about the impact of Covid-19 on the global aluminium value chain? Antti Koulumies: From what we’ve seen, only one aluminium smelter and one alumina refinery have curtailed production during...
Brisk consumption lowers aluminium billet stocks in China to 129,400 tonnes for the eighth straight week
According to Shanghai Metals Market, the aluminium billet inventories have extended decline over the week ending Thursday, April 30, as brisk consumption has lowered stocks in Wuxi, Huzhou, and Changzhou. SMM data shows the stocks of 6063 aluminium billet have plunged by 16,3000 tonnes across five major consumption areas in China, marking the eighth consecutive week of decline. The billet inventories are thus, currently standing at 129,400 tonnes, following the decline of 19,300 tonnes last week. The chart below indicates the current status of aluminium billet inventories across China in more details: As the chart above shows, the inventories in Wuxi, Changzhou, Huzhou, and Nanchang have decreased by 15,180 tonnes, 5,080 tonnes, 2,000 tonnes, and 300 tonnes to stand respectively at 25,300...
Genelac relaunches some of its popular loudspeaker models with RAW aluminium finish look
As a small effort to expand the product line in a more sustainable and eco-friendly way, Genelac, the global leader in professional loudspeakers, has re-launched some of its popular models in Studio, AV, and Home Studio ranges with special RAW aluminium colour finish. The models are primarily produced from recycled aluminium, similar to what we find in drink cans. They contain less finishing material and no painting to allow the beauty of the enclosure’s raw aluminium to shine through and to give each speaker a distinctive look. All the models feature the timeless Minimum Diffraction Enclosure (MDE) design, developed by Genelec in close collaboration with leading industrial designer Harri Koskinen. They are all two-way designs and include the 8020, 8030 and 8040 nearfield studio monitors,...
Rusal’s alumina refinery in Ukraine to temporarily stop production on bauxite supply disruption
Rusal’s alumina refinery in Ukraine’s Mykolaiv announced on Wednesday, April 28, that it might have to temporarily stop production as Ukrainian customs authorities blocked access to bauxite supplies. The refinery, located near Ukraine’s Black Sea coastline, primarily relies on overseas bauxite and exports alumina from its production to Rusal’s aluminium smelters in Siberia. Besides, the Black Sea customs authority is hindering the import of bauxite raw materials into Ukraine, which is also adding up a cause for the critical decline in bauxite stocks at the refinery. “The Mykolaiv alumina plant operates entirely in line with Ukrainian law as it stands,” the business said in a statement. However, Ukraine’s customs declined to comment in this regard. The alumina refinery employs around 3,500...
China’s alumina price continues to grow at 1.19%; Prebaked anode price falls on Weiqiao’s purchasing price cut for May
The average alumina spot price has continued to grow, but slower than the previous day, according to Shanghai Metals Market. On Thursday, April 30, the price has increased by RMB 26 per tonne or at 1.19 per cent growth rate to stand at RMB 2,209 per tonne, compared to the growth of RMB 40 per tonne on Wednesday, April 29, as per the SMM data. In the north, the price has seen the highest growth of RMB 40 per tonne to come in at RMB 2,225 per tonne, as of April 30, followed by East and Central, where the average alumina spot price has grown by RMB 25 per tonne and RMB 20 per tonne to hover at RMB 2,200 per tonne. In the south, however, the price has remained restrained at RMB 2,520 per tonne. The imported alumina price has also registered a growth today after remaining restrained at RMB...
US aluminium scrap exports gain 3,000 tonnes over the month in February 2020
According to the latest USGS data, the United States in February 2020 extended its export volume of aluminium scrap by 3,000 tonnes to 149,000 tonnes. In January, the country’s aluminium scrap exports had come in at 146,000 tonnes after increasing by 6,000 tonnes or 4.28 per cent from 140,000 tonnes in December 2019. But the US exports in December had seen a drop of 7.28 per cent, as the export volume in November was 151,000 tonnes. During January-February, the total aluminium scrap exports by the United States were 294,000 tonnes. India was the leading destination for the United States aluminium scrap exports in February. The former bought 32,900 tonnes of scrap in February compared to 28,900 tonnes a month ago. This means India’s aluminium scrap imports from the US rose 14 per cent...
The Alkaline Water Company receives its largest order to date for new 500-ml aluminium bottles
The Alkaline Water Company Inc. has reportedly received its largest order to date for new 500-ml environmentally friendly aluminium bottles. The company has delivered 300,000 bottles to two regional customers located in the California and Texas markets until now. Since the launch in February, The Alkaline Water Company has been showing a keen interest in this innovative and truly sustainable offering. The company in its press release said, “While still early in the cycle, we see backlog building for this product that is being well received by our consumers. In addition, we are seeing retailers increase shelf space for eco-friendly merchandise as consumer demand for sustainable packaging options continues to grow. As such, our brand extension to aluminium bottles has been very timely. As a...
Lower raw material costs due to COVID19 lift Hydro’s Q1 results: Underlying EBIT improves to NOK 2,247 million
Norsk Hydro ASA has announced its first-quarter results of 2020, mentioning the growth of underlying EBIT from NOK 559 million during the same period last year to NOK 2,247 million. The successful ramp up of production at the Alunorte refinery, reduced costs, and positive currency effects are believed to have contributed positively to the first-quarter results. But these positive effects were partly offset by lower realised alumina and aluminium prices. Separately for bauxite and alumina, Hydro’s underlying EBIT in Q1 2020 came in at NOK 535 million, up from NOK 153 million, attributing to increased production following the lifting of production embargo last year and lower raw material costs. Underlying EBIT for primary aluminium improved from negative NOK 771 million in Q1 2019 to NOK...
Illycaffè introduces a new line of aluminium capsules with new espresso flavour
Illycaffè, a global leader in high-quality coffee, has extended its line of aluminium capsules compatible with Nespresso Original coffee machines. The new line of capsules is now available in Decaffeinato espresso, containing the ideal measure of the legendary and unique illy blends. The illy-branded capsules are available in total five choices representing four intensities of taste: Classico, Intenso espresso, Forte espresso, and new Decaffeinato espresso. All these varieties are available on the illy e-shop and selective retailers for a suggested retail price of $8.99 per pack of ten capsules. The illy-branded aluminium capsules are produced and distributed by JAB’s JDE platform. illycaffè and JAB had signed a trademark licensing agreement. JAB’s JDE platform is primarily responsible...
LME aluminium price further declined to US$1465/t on extended opening stock hike; SHFE contract rallied to six-week peak
The US dollar fell for the second day on Tuesday, April 28, as investors put pressure on safe-haven currencies as they eyed the Federal Reserve’s meeting and rebalanced portfolios ahead of the end of the month. Month-end rebalancing is negative for the greenback, with the US dollar likely to be sold against the euro, sterling, the Japanese yen and the Australian dollar, according to Mark McCormick, global head of FX strategy at TD Securities in Toronto. LME aluminium cash (bid) price as well as LME official settlement price declined on Tuesday, April 28, from US$ 1472.5 per tonne on April 27 to US$ 1465 per tonne. 3-months bid price and 3-months offer price also decreased from US$ 1509.5 per tonne to US$ 1503.5 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1628 per...
China’s aluminium scrap imports in March climb 29.8% M-o-M
According to China customs data, China in March 2020 imported 77,000 tonnes of aluminium scrap, down 39.1 per cent year-on-year but up 29.8 per cent from February 2020. This brought China’s total aluminium scrap imports in the first three months of the year to 199,000 tonnes, down 40.1 per cent from the same period last year. Most of the secondary aluminium producers resumed operations after March, which boosted demand for imported aluminium scrap. The general consumption of secondary aluminium within China and abroad has, however, dropped owing to slow global economic activities due to the outbreak of COVID19. With more stringent movement restrictions outside China in mid-March, Chinese secondary aluminium producers reported a sharp decline in export orders. As for unwrought aluminium...
Lesser durability of COVID19 virus on aluminium surface makes it a more preferred metal than others
There is no end to research, inspection, and introspection around the currently much talked about virus SARS-CoV-2, or popularly known as COVID19. The more its impacts are being reported across the world, the more it is triggering investigation among medical sciences. Research says what worries the most is the virus’s high rate of contagion, as it can survive outside the human body, in the air, and on surfaces such as metal, glass, and plastics, if they are not properly disinfected. It has been evident that human-to-human transmissions have an incubation time of 2 to 10 days, spreading through air droplets. But when these droplets reach surfaces, such as walls, clothing, furniture, or other objects, the virus behaves differently depending on the type of surface it lands on. On plastic and...
Alumina price in China registers higher growth today at RMB2143/t; A00 aluminium ingot price up by RMB80/t
Extending the growth by RMB 10 per tonne today, on April 28, the average alumina spot price in China has come in at RMB 2,143 per tonne, found Shanghai Metals Market. In the east and central, the alumina price has gained RMB 10 per tonne as well to come in at RMB 2,135 per tonne. The average prices there are expected to range between RMB 2,120 per tonne and RMB 2,150 per tonne. In the north, the alumina price growth is slightly lower at RMB 5 per tonne, bringing the price at RMB 2,150 per tonne, while that in the south has remained restrained at RMB 2,520 per tonne. The imported alumina price has grown by RMB 25 per tonne to RMB 2,100 per tonne, as of April 28, according to SMM. The Australian alumina FOB price, on the other hand, has not registered any change today from US$ 227 per...
China’s bauxite imports in March jump 10.6% Y-o-Y to total at 10.01 million tonnes: Customs data
Bauxite imports by China increased 10.6 per cent in March to total at 10.01 million tonnes from a year ago and also faster than 9.64 per cent growth rate in the January-to-February period, found China’s General Administration of Customs data. In the first two months of the year, China imported 18.4 million tonnes of bauxite. The Republic of Guinea was the leading exporter then, supplying 8.93 million tonnes in two months. In March as well, the Republic of Guinea remained the biggest bauxite exporter to China, with a total supply of 4.45 million tonnes. China’s primary aluminium imports neither lagged in recording a hike in March. The customs data found China’s aluminium imports in March grew 35 per cent year-on-year to 5,409 tonnes. Of this, Russia accounted for 2,600 tonnes, as the...
Growing demand and subdued supply of primary aluminium lead to lower inventories over the weekend ending April 27
Social inventories of primary aluminium ingots have continued to trend lower over the weekend ended Monday, April 27, on robust demand and subdued supply, according to Shanghai Metals Market. SMM data shows the primary aluminium ingots stocks have decreased by 76,000 tonnes across eight major consumption areas in China, including SHFE warrants, from last Thursday, to stand at 1.283 million tonnes. The chart below shows the current status of the primary aluminium inventories across China in more details: As the above chart shows that among all the major Chinese provinces, Gongyi has seen the highest decline in primary aluminium inventories over the weekend by about 24,000 tonnes to stand at 94,000 tonnes, followed by Nanhai 21,000 tonnes to come in at 265,000 tonnes. In Wuxi, the stocks...
Rusal’s bauxite production down by 11.2% in Q1 2020; Alumina output drops by 1.8%
Rusal has launched the first-quarter production results of 2020, wherein it posted that its bauxite output decreased by 11.2 per cent from the previous quarter to stand at 3.58 million tonnes, attributing to to the suspension of operations of business in Guyana, as announced at the beginning of February 2020. Alumina production also plunged, but lesser than bauxite. Its output stood at 2.01 million tonnes after declining by 1.8 per cent from Q4 2019. The Company’s Russian operations accounted for 35 per cent of the total alumina output. Rusal's aluminium production came in at nearly 940,000 tonnes in Q1 2020, down 0.9 per cent from Q4 2019. The company's Siberian smelters represented 93 per cent of total aluminium output in the said period. Aluminium sales amounted to 914,000 tonnes,...
