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 plunged to $1421.5/t as US dollar edged higher; SHFE increased to $1643/t
The US dollar index edged higher on Wednesday in choppy trading, attracting safe-haven bids, as investor concerns remained over the economic fallout of the pandemic. Three-month LME aluminium fell to a new more than four-year trough of US$ 1,455 per tonne in the North American trading session, before it recouped some losses to close the day 0.61 per cent weaker at US$ 1,469 per tonne. As of Wednesday, April 8, both LME aluminium cash (bid) price and LME official settlement price fell sharply from US$ 1455.50 per tonne to US$ 1421.50 per tonne, followed by a significant increase on the previous day. 3-months bid price and 3-months offer price also recorded a sharp fall from US$ 1491.50 per tonne to US$ 1459.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1591.50 per...
Novelis receives final clearance from European Commission for Aleris acquisition
Atlanta-based world-leading aluminium rolling and recycling firm Novelis Inc. announced today, on April 8, about the receipt of the final clearance needed to complete the acquisition of Aleris Corporation, a global supplier of rolled aluminium products. Thus, it will now move expeditiously to close the buying deal. Earlier, the European Commission had governed a rule that Novelis could acquire Aleris if the former divested Aleris’ plant in Duffel, Belgium, to a third party approved by the Commission. Novelis met the condition, and therefore, the European Commission determined Liberty House Group a suitable buyer of the Duffel facility. The purchase price of the Duffel facility is €310 million. The facility will be acquired by Liberty House Group under its newly formed aluminium vertical...
US aluminium plates, sheets and bars exports rise 22% in January’20; Canada, Mexico the highest importers
The latest data from the US Geological Survey shows the United States’ exports of aluminium plates, sheets and bars increased in January 2020 after two consecutive months of decline. From 56,100 tonnes in December 2019, the export amount increased by about 22 per cent to 68,200 tonnes in January 2020. In November, the US’ aluminium semi-finished products exports were 63,800 tonnes, meaning the export amount in December was lower by 12 per cent month-on-month. Also in November, the US’ exports of semi-finished products stood down by 11 per cent from 71,400 tonnes in the previous month. Year-on-year, however, the US’ exports of aluminium plates, sheets and bars in January 2020 decreased 12 per cent from 77,400 tonnes in January 2019. The total aluminium plates, sheets and bars exports by...
COVID19 outbreak fuelling the worldwide aluminium slow demand: Bloomberg Intelligence suggests
The downfall in the aluminium industry could be traced back to the global financial crisis last year that forced many automobile companies and the construction projects to reduce or shut operations, resulting in demand crunch for the lightweight metal, according to Bloomberg observation. The outbreak of COVID19 has just further triggered the ailing of aluminium demand, leading to production curtails at many downstream and end-use aluminium plants. Bloomberg Intelligence suggests that since the demand was slowing down, a surplus in stocks was well expected this year, even before the current pandemic. The price has been declining as well, which is now below $1500 per tonne, making most of the world’s production unprofitable. According to Bloomberg, the industry is currently working through...
Queensland Government approves NAIF’s $4.75 million loan facility for Metro Bauxite Stage 2 Expansion
The Queensland Treasury has reportedly informed Metro Mining Limited that the State Government has decided to not exercise veto right regarding the Metro's Bauxite Hills Mine Expansion proposal. In late 2019, the Northern Australia Infrastructure Facility (NAIF) had announced to offer a Loan Facility of up to $47.5 million to Metro Mining for its Bauxite Hills Mine stage 2 expansion to 6 million wet metric tonnes per annum. But the key condition was the Queensland Government’s consideration of the project and its agreement for the approved funds to be advanced. The $4.75 million loan facility is supposed to fund the construction and mobilisation of a floating terminal as part of the stage 2 expansion, which is a critical part of Metro’s medium to long term growth. Metro Mining's Managing...
LME aluminium price climbed to US$1455.5/t as US dollar dropped below 100 level mark; SHFE price declined
The US dollar index dropped below the 100 level mark on Tuesday as risk appetite improved on hopes that lockdowns may be slowing the spread of the coronavirus in some countries and as action by central banks eased dollar strain. Three-month LME aluminium climbed to an intraday high of US$ 1,500 per tonne in late European trading hours, before it pared most of the gains to end the day 0.2 per cent higher at US$ 1,478 per tonne. As of Tuesday, April 7, both LME aluminium cash (bid) price and LME official settlement price increased sharply from US$ 1424.50 per tonne to US$ 1455.50 per tonne. 3-months bid price and 3-months offer price also recorded a significant rise from US$ 1460.50 per tonne to US$ 1491.50 per tonne, while Dec 21 bid price and Dec 21 offer price came in at US$ 1623.50 per...
US aluminium exports in January 2020 rebounds by 8.45%; Mexico imports the highest
The latesty data from the US Geological Surve showed the United States started the year 2020 with month-on-month growth in aluminium (including FRPs and scrap) exports. From 213,000 tonnes in December last year, the United States’ aluminium exports grew 8.45 per cent in January 2020 and came in at 231,000 tonnes, according to the data. In November 2019, the export amount by the US was 233,000 tonnes, which represents a downfall in December of about 8.6 per cent. In November as well, the United States' aluminium exports had declined over the month by 5.7 per cent and totalled at 233,000 tonnes. In October, however, the export amount had increased, although marginally by 1.22 per cent, from 244,000 tonnes in September to 247,000 tonnes. Compared to January 2019, the United States' aluminium...
Achinsk Alumina Refinery starts using BelAZ-7555V haulers for raw material extraction
According to a recent report, Achinsk Alumina Refinery in Krasnoyarsk Krai, Russia, is currently using a batch of BelAZ-7555V haulers. The batch, consists of six 55-tonne haulers, was delivered to Achinsk Alumina Refinery, part of Rusal Achinsk, by Krasnoyarsk-BelAZService in March. As per the report, the Belarusian vehicles have been purchased to upgrade the fleet of mining transport and will be used at the mazoul mine in Krasnoyarsk Krai. Rusal Achinsk commented: “New haulers will help increase labour productivity and reduce costs for the technological process of raw material extraction. This equipment has high performance characteristics. It is more economical in terms of fuel and lubricants consumption. The driver's cabs have an improved view and control system, and are equipped with...
Primary aluminium inventories in China record a decline of 41,000 tonnes over the extended weekend
According to Shanghai Metals Market, the social inventories of primary aluminium ingots have declined over the holiday-extended weekend, as demand has displayed a slight improvement. The data shows the stocks across eight major consumption areas in China, including SHFE warrants, have decreased by 41,000 tonnes from 1.676 million tonnes on Thursday, April 2, to stand at 1.635 million tonnes, as of Tuesday, April 7. Compared to a week earlier when the inventories were at 1.664 million tonnes, the stocks today have plunged by 29,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: From Thursday, April 2, the inventories in Nanhai and Gongyi have plunged by 28,000 tonnes and 17,000 tonnes, respectively, to stand at 403,000...
Alumina price in China declines by RMB41/t; A00 aluminium ingot price grows on increased demand
The average alumina spot price since the middle of March is recording relentless declines, and today, April 7, is of no exception, found Shanghai Metals Market. The aluminium raw material price in the spot market has registered a decline of RMB 41 per tonne to stand at RMB 2,205 per tonne. In the east, it is standing at RMB 2,220 per tonne after decreasing by RMB 60 per tonne, while that in the central and north is hovering at RMB 2,220 per tonne and RMB 2,195 per tonne after plunging by RMB 40 per tonne and RMB 35 per tonne, respectively. In the south, however, the price has remained restrained at RMB 2,520 per tonne. The Australian alumina FOB price has dropped by US$ 6 per tonne to US$ 231 per tonne. The imported alumina price has registered no change from its previous price RMB 2,315...
New Zealand Aluminium Smelter making its own hand sanitiser to combat COVID19 pandemic
Following World Health Organisation guidelines, New Zealand Aluminium Smelter Limited is making 103 litres of own hand sanitiser from its onsite laboratory. Smelter asset optimisation superintendent Roget Hackett said they collected the ingredients like ethanol, hydrogen peroxide, and glycerol under WHO guidelines and mixed in their lab. Although the smelter is not considered an essential service, yet it is exempted from the four-week lockdown, considering the extensive costs involved in shutting down and restarting all the pots. However, the smelter has adopted several precautions for continuing operations during the pandemic, such as dividing workers into two teams – blue and red and letting them work separately as much as possible with separate entry and exit points into the factory....
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US aluminium scrap exports in January'20 record a rise of 4%, but exports to India fall
After back-to-back falls in the United States aluminium scrap exports in November and December, January 2020 saw a marginal rise, according to the US Geological Survey data. Compared to 140,000 tonnes in December 2019, the United States in January 2020 exported 146,000 tonnes, registering a rise of 4.29 per cent. In October and November, the United States’ aluminium scrap exports hovered at 157,000 tonnes and 151,000 tonnes, respectively, representing a month-on-month fall of 3.82 per cent in November 2019. In December 2019, the month-on-month decline in exports had increased to 7.28 per cent. Year-on-year, the United States’ aluminium scrap exports in January 2020 saw a rise of 4.29 per cent as well, as the export amount by the US during the same period last year was 146,000 tonnes. The...
Effect of COVID19 on Indian Aluminium Industry
On Tuesday, March 24, Prime Minister Narendra Modi announced a countrywide lockdown for 21 days starting Tuesday midnight. Since the announcement, no report of production cuts at smelters and refineries of three major Indian aluminium giants have arrived so far, except that Hindalco has temporarily scaled down operations at some of its aluminium and copper manufacturing facilities in line with the government's directives, according to a report last week. The government has, however, exempted key production facilities from having a continuous production process during the lockdown. Reports say there is enough availability of raw material and consumable stock with the plant premises for the next 15 days, at least, which is helping carry out the production seamlessly. The government has...
ABx appoints Clough to design and construct its first Alcore production plant
Australian Bauxite Limited (ABx) has reportedly appointed Clough for the design and construction of its first Alcore production plant in New South Wales. After six months of test work, Alcore has now decided to construct the first commercial plant where byproducts from aluminium smelters will be converted into aluminium fluoride. This aluminium fluoride can then be again sold back to the smelters as an essential electrolyte for smelting. On bagging the contract, Peter Bennett, CEO and Managing Director of Clough said: "Clough is a pioneering engineering and construction company, and our expertise with technology readiness, front-end engineering and EPC delivery will ensure a smooth transition for Alcore from the lab research stage to their first commercial plant." Alcore COO Phillip Hall...
Vedanta's aluminium ingots prices now at INR127,250-140,250/t after sixth consecutive cut
Vedanta for the sixth consecutive time has cut its aluminium ingots prices by nearly 1 per cent, with effect from Wednesday, April 1. The company had cut the prices of these products by 2 to 3 per cent. After the cut with effect from April 1, Vedanta is now selling ingots at INR 127,250 per tonne to INR 140,250 per tonne, down by 10 to 11 per cent from that the end of 2019. The last aluminium ingot price cut by Vedanta was with effect from March 27 , which brought the prices to INR 128,500 per tonne to INR 141,500 per tonne, down from INR 131,750-144,750 per tonne on March 24. The billet price after the cut on Wednesday came in at INR 135,250 per tonne, 0.91 per cent lower than INR 136,500 per tonne last week. The Indian aluminium producers generally link their product prices to the...
Three-month LME aluminium slipped to the four-years lowest at $1504/t this week; SHFE ended at $1628/t
With the beginning of this week, the US dollar rebounded against major currencies and riskier emerging market units, snapping a week of declines as investors braced for prolonged uncertainty and governments tightened lockdowns and launched monetary and fiscal measures to fight the coronavirus pandemic. However, on Tuesday, March 31, the dollar fell against a basket of major currencies, but again on April 1 advanced, with the index up 0.6 per cent at 99.52. Three-month LME aluminium resumed its downtrend on Monday, March 30, slipping to its lowest since April 2016 at US$ 1,522 per tonne in North American trading hours before closing the day sharply lower at US$ 1,529 per tonne. On March 31, it slipped to the further lowest at US$1,507 per tonne and closed the day at US$1,525.5 per tonne....
Ball creates a collection of 250ml recyclable aluminium cans for UK beverage brand Jimmy’s Iced Coffee
Ball Corporation has reportedly created a collection of newly designed, infinitely recyclable 250ml cans for Dorset-based UK beverage brand Jimmy’s Iced Coffee (‘Jimmy’s’). With the adoption of aluminium cans, Jimmy’s can achieve its environmental aim of removing plastic from packaging in 2020. Aluminium cans in Europe have an average recycling rate of 75 per cent. The partnership between Ball and Jimmy’s started in 2019 with the launch of the original Flat White in cans. Following that, Jimmy’s worked with Ball to produce three brand-new canned Flat Whites – Skinny, Oat, and Extra Shot Flat White. All three Iced Flat Whites are below 150 calories and come in 250ml infinitely recyclable aluminium cans, with distinctive and fresh designs with two-tone packaging and Jimmy’s timeless new...
COVID19 Effect: Chalco may shut some aluminium production on further price fall
Aluminium Corporation of China Limited, popularly known as Chalco, may consider carrying out maintenance or even shut some aluminium production if prices fall below its cash costs, said a company executive on Friday, April 3. With the weak demand for aluminium in China and also across the globe due to the outbreak of COVID19, the social inventories of primary aluminium ingot have been witnessing incessant hikes, resulting in continuous declines in aluminium prices over the past 2 months. On Thursday, April 2, aluminium prices in Shanghai hit a more than four-year low of RMB 11,250 per tonne. However, as far as the alumina production is concerned, Chalco’s Finance Chief Wang Jun said that there had been no change in Chalco’s production capacity for alumina. He also said the company would...
