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.
LME aluminium price dipped marginally at $1473/t on a slight rise in opening stock; SHFE extended growth at $1756/t
The US dollar edged lower against the euro on Friday, April 24, ending a four-day winning streak, but broader concerns about the euro's outlook kept dollar bears at bay. The dollar index, which tracks the greenback against a basket of other currencies, lost 0.28 per cent to 100.22, after hitting its highest level since April 7 at 100.87. As of Friday, April 24, both LME aluminium cash (bid) price and LME official settlement price dipped marginally to US$ 1473 per tonne from US$ 1473.50 per tonne on Thursday, April 23. 3-months bid price and 3-months offer price also plunged slightly from US$ 1509.50 per tonne to US$ 1508 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1629 per tonne compared to US$ 1632 per tonne on the previous day. The LME aluminium opening stock rose...
Weekly Update 2: COVID19 leading companies to pursue new strategies while their sales & output taken back seat, April 11-24
The COVID19 impacts have brought in a lot of changes in planning, strategizing, and executions for the aluminium companies. Such was our observation over more than a week, from April 11 to April 24. While decline in European car sales by about 52 per cent in March, attributing to the lockdowns imposed for the containment of COVID19, as reported on April 17, did not escape our attention, nor we missed to report how Rio Tinto, with support from Motorola Solutions, is technologically gearing up to pursue delivery towards its consumers while safeguarding people and communities during the COVID-19 pandemic. So, let us here take a quick recap to some of such major market affairs and developments happened over the week, caused by COVID19. To start with, Fitch Ratings, the leading provider of...
Top 5 Aluminium Importing Countries from the United States in February 2020
According to the latest US Geological Survey data, the United States in February 2020 exported 236,000 tonnes of aluminium (including scrap), marking a rise of 2.16 per cent from 231,000 tonnes in January. This brought the United States total aluminium exports in the first two months of 2020 to 467,000 tonnes. Mexico, Canada, India, the Republic of Korea, and Malaysia were the top 5 importers of the US aluminium in February. In February 2020, Mexico imported 50,200 tonnes of aluminium from the US, up 1,000 tonnes or 20.33 per cent from 49,200 tonnes in January. In the previous two months, Mexico imported 89,700 tonnes of aluminium from the US in total. In November, the import amount was 48,800 tonnes, while in December, a 16.19 per cent lesser at 40,900 tonnes. This represents that except...
COVID19 Measures: Alcoa's Pinjarra Refinery opens applications for community funding
Pinjarra Alumina Refinery of Alcoa has reportedly opened funding applications for the next round of its Community Partnership program. Applications are open to non-profit organisations within the Shire of Murray and City of Mandurah. Applications are for getting responses from community organisations to the impacts of the COVID19 pandemic, along with other standard areas of focus such as environmental sustainability, health and safety, future workforce and leaders, and community capacity and resilience. Pinjarra Alumina Refinery Manager Mark Hodgson has realised that this crisis has created severe impacts on community groups and they need more support than ever before. Alcoa is thus, looking for ways to support community groups during the pandemic and also in the longer-term. The Alcoa...
China’s A00 aluminium ingot price records a fall of RMB30/t; Average alumina spot price remains restrained
After soaring by RMB 230 per tonne, the A00 aluminium ingot price has recorded a downfall of RMB 30 per tonne to stand at RMB 12,460 per tonne, as of Friday, April 24, found Shanghai Metals Market. The average prices are expected to range between RMB 12,440 per tonne and RMB 12,480 per tonne, with spot contract to be traded at a premium price of RMB 30-70 per tonne. Among the major Chinese provinces, Foshan has continued to see a surge of RMB 110 per tonne to RMB 12,690 per tonne. In Tianjin and Chongqing, the A00 aluminium ingot price has increased as well by RMB 50 per tonne and RMB 20 per tonne to respectively come in at RMB 12,510 per tonne and RMB 12,690 per tonne. In other provinces, the primary aluminium ingot price has decreased; such as in Wuxi and Gongyi, the price has declined...
Higher production and lower demand expand world primary aluminium surplus by 192,000t: WBMS
In the first two months of 2020, world primary aluminium surplus grew to 684,000 tonnes from 492,000 tonnes in the whole of 2019, showed the World Bureau of Metals Statistics report on Wednesday, April 22. This came as production jumped by 8.3 per cent in January and February, in contrast to the demand growth of 4.1 per cent year-on-year. By the end of February, aluminium stocks totalled at 1.99 million tonnes, down 159,000 tonnes from the level seen at the end of December 2019. Stocks at LME-approved warehouses also fell during the same period, mostly in Asian warehouses. In China, primary aluminium demand was apparently higher by 6.2 per cent during January to February compared to the same period last year, while output expanded by about 6.06 million tonnes, which is about 55 per cent...
Alcoa to stop remaining 230,000 tonnes of capacity at Intalco smelter; Company shares full-year outlook
Alcoa Corporation, in its first-quarter financial results on Thursday, April 23, announced that it would curtail the remaining 230,000 tonnes of uncompetitive smelting capacity at Intalco smelter in Ferndale, Washington, owing to the current downturn market conditions. The full curtailment, including 49,000 tonnes of earlier-curtailed capacity at Intalco, is likely to be completed by the end of July 2020. Post this action, Alcoa’s total smelting capacity cut will come in at 880,000 tonnes, or approximately 30 percent of its total global smelting capacity. Roy Harvey, Alcoa’s President and Chief Executive Officer, said: “While our employees have worked diligently to improve the facility, the smelter is uncompetitive, and current market conditions have exacerbated the facility’s...
China’s aluminium imports hit 6-years high after growing more than triple in March; Bauxite shipments fall
According to China customs data on Thursday, April 23, aluminium imports to China grew more than triple in March 2020 from a year ago and stood the highest in the past six years or more. But bauxite imports in the same month fell due to disruptions of the incoming shipments of raw materials. China’s unwrought aluminium imports in March came in at 121,025 tonnes, up 242 per cent from 35,420 tonnes in the same period last year, showed the General Administration of Customs. This marked the highest since China imported 125,180 tonnes in December 2013. China’s exports of aluminium, on the other hand, dipped by 5 per cent in March from the year-earlier at 520,000 tonnes, according to data released at mid-month. In regards to the jump in China’s March aluminium imports, one trader reasoned out...
China issues sixth batch of aluminium scrap quotas for 2020 expanding permissible import amount
According to a recent report from Shanghai Metals Market, China’s environmental authorities, on Thursday, April 23, have issued the sixth batch of aluminium scrap quotas for 2020, permitting additional 1,030 tonnes of high-grade aluminium scrap to enter China. This, together with the previous batch quota, which allowed an additional 191,100 tonnes of high-grade aluminium scrap imports to China, brings the total permissible amount of imports to 476,679 tonnes. But while the import quotas are increasing for this year on one hand, the supply in the market is displaying a bearish trend, on the other, due to subdued consumption and supply disruptions amid the worldwide spread of the COVID19. Chinese authorities estimate that since the spread of the COVID19 has not shown signs of slowdown, the...
Alcoa’s adjusted net loss improves in Q1 2020 with revenue declines marginally to $2.4 billion
Alcoa Corporation, a global leader in bauxite, alumina, and aluminium products, has released its first quarter results of 2020, ending March 31. According to the report, Alcoa’s adjusted net loss improved from $57 million or $0.31 per share in the previous quarter to $42 million or $0.23 per share in Q1 2020. Net income attributable to Alcoa Corporation came in at $80 million or $0.43 per share in Q1 2020, compared with a net loss of $303 million or $1.63 per share in Q4 2019. Adjusted EBITDA excluding special items came in at $321 million in Q1 2020, down 7 per cent from $346 million in Q4 2019. The revenue of the company in the first quarter of 2020 stood at $2.4 billion, down 2 per cent from the previous quarter, attributing to lower global alumina and aluminium prices. Alcoa ended the...
LME aluminium price moved higher at US$1461.5/t with strengthened SHFE at US$1751/t
The US dollar declined on Wednesday, April 22, giving up some gains from the previous day, as oil prices bounced back and eased investors demand for safe havens. But the greenback remained well supported amid persisted concerns about the uncertainty around the coronavirus crisis. Three-month LME aluminium moved higher with strengthened SHFE aluminium, ending at $1,520 per tonne on Wednesday, up 2.01 per cent on the day. The K-indicator broke up the 20-day moving average. Today, LME aluminium is expected to trade between US$ 1,490-1,520 per tonne. As of Wednesday, April 22, both LME aluminium cash (bid) price and LME official settlement price recorded a rise of US$ 18 per tonne to stand at US$ 1461.50 per tonne. 3-months bid price and 3-months offer price also increased by US$ 18 per tonne...
The Aluminum Extruders Council announces new Chairman and Vice Chairman
The Aluminum Extruders Council has reportedly announced the results of the annual election of officers and directors, which was decided at its 71 st Annual Meeting & Leadership Conference last month in San Antonio, Texas. Brook Massey was elected to serve as Chairman of the Aluminum Extruders Council, Brook Hamilton as Vice Chairman on the Executive Committee, and Scott Kelley as Immediate Past Chairman. Mr Massey, who was earlier the President of MI Metals in Oldsmar, FL, has more than 15 years of leadership experience in the aluminium extrusion industry. Prior to MI Metals, he was a CPA and spent time auditing in a variety of industries, including Manufacturing, Healthcare and Governmental entities. Mr Massey has been a member of the AEC Board of Directors since 2016. He then used to...
China's primary aluminium demand surges by 150,000-200,000 tonnes on weak scrap supply: Antaike
According to Antaike’s report on Wednesday, April 22, China’s primary aluminium demand has surged by an extra 150,000 to 200,000 tonnes over the past one month, owing to aluminium scrap shortage caused by the coronavirus outbreak. Aluminium scrap supplies have weakened since the end of the Lunar New Year holidays in January. Delay in resuming recycling activity due to the holidays, together with falling imports because of the global COVID19 pandemic, has adversely affected the supplies of scrap, according to the research house. “Price spread between aluminium scrap and primary aluminium narrowed obviously, leading to increasing amount of primary aluminium as a substitute and driving its demand,” Antaike said in a note. The most active aluminium contract on the Shanghai Futures Exchange...
US aluminium scrap exports to India stood down by 6.17% M-o-M in January’20, but edged higher by 61% Y-o-Y
United States Geological Survey report for January 2020 showed that the US in the said month exported 28,900 tonnes of aluminium scrap to India. This stood down month-on-month by 6.17 per cent, but when compared to the corresponding period last year, it edged higher by 61 per cent sharp. In December 2019, the United States aluminium scrap exports to India were 30,800 tonnes, while in January 2019 were 18,000 tonnes. During October-December 2019, the US aluminium scrap exports to India relentlessly showed an upswing trend, by supplying 20,300 tonnes in October, which grew 15.27 per cent to 23,400 tonnes in November. December saw a growth of 32 per cent month-on-month, with US aluminium scrap exports to India came in at 30,800 tonnes. However, despite the month-on-month decrease in the...
Amaero with an automotive manufacturer to develop 3D printed tooling for aluminium die casting components
According to a recent report, the metal additive producing group Amaero International has inked an agreement with a major global automotive manufacturer to jointly develop 3D printed tooling. According to the Australia-headquartered group, the inclusion of additive-manufactured inserts for tools could decrease the manufacturing defects risk by adding conformal cooling channels to the design. As a result, it would reduce rejection in casting, machining, and assembling, and therefore, would save costs. These tooling inserts are common to die casting tools globally. Once this new process to be developed by Amaero and its new customer is proven, there would be some scope for significant global opportunities. This collaboration between Amaero and an automotive manufacturer would apply to the...
Alumina price in China shows restraint at RMB2123/t; A00 aluminium ingot price remains muted too at RMB12260/t
After rising the past two days in a row from RMB 2,064 per tonne to RMB 2,123 per tonne, the average alumina spot price in China has decided to remain restrained today, on April 22, according to Shanghai Metals Market. Even in the major markets in the east, central, north, and south China, the price has remained unchanged. While in the east and central, the alumina price is hovering at RMB 2,115 per tonne, in the north and south, the price is standing at RMB 2,135 per tonne and RMB 2,520 per tonne, respectively. The average prices in the east and central are expected to range between RMB 2,080-2,150 per tonne, as of April 22, and that in the north and south between RMB 2,100-2,170 per tonne and 2,490-2,550 per tonne, respectively. The A00 aluminium ingot price has also not recorded any...
Nick Allan joins Canyon Resources Limited as new CFO & Company Secretary
Canyon Resources Limited has reportedly appointed a new Chief Financial Officer and Company Secretary named Nick Allan with an immediate effect. The appointment of Mr Allan followed the resignation of John Lewis, the former CFO/Joint Secretary of Canyon Resources. Nick Allan is a chartered accountant and comes with more than 25 years’ experience in commerce, corporate advisory and public practice. He previously worked with several ASX-listed public companies as the chief financial officer and company secretary. Early last month, Canyon had appointed senior bauxite executive Rick Smith as Chief Development Officer of the company. Mr Smith focuses on supply chain, offtake, and strategic partner negotiations for Canyon’s Minim Martap Bauxite Project in Cameroon. He joined Canyon with more...
US aluminium semis imports from Saudi Arabia see a M-o-M decline of 27.48% in January 2020
According to the data shown by the United States Geological Survey, the US in January 2020 imported 7,470 tonnes of aluminium plates, sheets and bars from Saudi Arabia. In December 2019, the US aluminium semi-finished product imports from Saudi Arabia were 10,300 tonnes, meaning the imports in January this year stood down by 27.48 per cent month-on-month. In November 2019, the country’s imports from Saudi Arabia were also at 10,300 tonnes. In October, the import amount was at 6,430 tonnes, down by 60.19 per cent from November and December 2019 and by 16.17 per cent from January 2020. Thailand was the next highest exporter of aluminium plates, sheets and bars exports to the US in January 2020, providing 4,550 tonnes. In the earlier month, the United States had imported, 4,150 tonnes of...
