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 climbed up to US$1689/t amidst the biggest gain of US dollar in last three years
The US dollar rebounded on Tuesday after consecutive days of major losses, as signs of global policy easing to cushion the economic impact from the COVID-19 epidemic eased some of the investors’ concerns. The dollar index, which tracks the greenback against a basket of other currencies, climbed to the highest level this week at 96.6 and recorded the biggest gain in the past three years. Three-month LME aluminium climbed to an intraday high of US$ 1,714 per tonne on a rebound in crude oil prices and finished the day 0.77 per cent higher at US$ 1,702 per tonne. The trading range is expected between US$1670 per tonne and US$ 1720 per tonne today. After continuing decline till Monday, LME aluminium cash (bid) price on Tuesday, March 10, recorded a significant growth of US$ 45.5 per tonne to...
Further rise in primary aluminium inventories push down the A00 aluminium ingot price to as low as RMB12830/t
On the further rise of the social inventories of primary aluminium, the A00 aluminium ingot price has recorded a sharp decline of RMB 240 per tonne to RMB 12,830 per tonne. For the first time in the last one year, the A00 aluminium ingot price has come below the RMB 13,000 per tonne level. The average prices are expected to range between RMB 12,810 per tonne and RMB 12,850 per tonne, with spot contract to be traded at a discount price of RMB 50 per tonne to RMB 10 per tonne. In Foshan, Wuxi, and Hangzhou, the price has witnessed a drop of RMB 240 per tonne and stands at RMB 12,820 per tonne. In Gongyi, the price has declined by RMB 235 per tonne to RMB 12,745 per tonne and that in Chongqing and Linyi, the price has plunged by RMB 230 per tonne to RMB 12,850 per tonne and RMB 12,920 per...
Three-month LME aluminium lost 1.86% last Friday amidst the US dollar’s biggest weekly decline
The US dollar recorded the biggest weekly decline in nearly three years while the Japanese yen strengthened as the widening reach of the coronavirus sent investors scrambling for safety. The dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since February 2019 at 95.7 and finished the week 2.02 per cent lower. Three-month LME aluminium lost 1.86 per cent last Friday, March 6, and finished at US$ 1685.5 per tonne, with US stock futures and crude oil prices slumping over the weekend. Trading range is expected at US$ 1650 per tonne to US$ 1720 per tonne today. As of Friday, March 6, LME aluminium cash (bid) price further declined to US$ 1686.5 per tonne from US$ 1714 per tonne on March 5. LME official settlement price also recorded a...
B&O launches new Smart Home Assistant Speakers featuring aluminium chassis
Bang & Olufsen, a high-end Danish audio maker, has reportedly released new Smart Home Assistant Speakers – the Beosound Balance. Available in two colours, the speakers are equipped with seven different internal speakers to give users a stereo sound effect as well as an overall louder experience. B&O has collaborated with a British industrial designer LAYER and worked together to give consumers the best experience with a style featuring a solid oak base, an aluminium chassis, and a ‘fabric mesh covered cylinder’ rising from the base, forming the main part of the speaker. The new speakers also contain a large, upward facing subwoofer, housed inside the wooden cylindrical base. The low frequency sound comes out of the aluminium grilles from the cylinder. The top part of the speaker contains...
Three-month LME aluminium stood as low as US$1,722.5/tonne this week; Dollar index plunged lowest since January 2
The US dollar fell on the first two day of the week. On Monday, the dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since January 16, at 97.18. On the next succeeding day, it declined further lowest since January 8 at 96.92. On March 4, the currency recovered the ground, with index bounced back 0.43 per cent and hit an intraday high of 97.6; but on March 5, again slipped to a fresh eight-week low to the lowest level since January 2 at 96.51. Three-month LME aluminium ended 0.88% higher on March 2 at US$1,716.5 per tonne. On March 3, it rose to an intraday high of US$ 1,734 per tonne and finished 0.67 per cent higher on the day at US$ 1,728 per tonne. But on March 4, the three-month LME aluminium slipped to as low as US$ 1,717 per...
China’s primary aluminium production shrank in February to 2.87 million tonnes: SMM
According to Shanghai Metals Market, the primary aluminium production in China shrank to 2.87 million tonnes in February, but year-on-year it was up by 6.9 per cent. Operating rates were down by 0.2 percentage point from the end of January to 89.3 per cent, as newly-commissioned projects were still ramping up. As of the end of February, the total primary aluminium capacity in operation was 36.6 million tonnes in China, while the existing capacity was 40.99 million tonnes on an annualised basis. China’s total primary aluminium production in the first two months of the year stood 5.1 per cent higher year-on-year at 5.94 million tonnes. That was faster than consumption growth, resulting in soaring inventories. As of March 5, social inventories of primary aluminium stood at 1.49 million...
China’s daily alumina production dropped 0.52% M-o-M in February
China in February 2020 produced 5.4 million tonnes of alumina, of which metallurgical-grade materials accounted for 5.17 million tonnes, according to Shanghai Metals Market. Daily production of metallurgical-grade alumina averaged 178,000 tonnes, 8.19 per cent lesser than February 2019 and 0.52 per cent from January 2020. Capacity cut at many refineries amidst the deadly Coronavirus outbreak was one of the reasons for the dip in daily alumina output. In January, production of metallurgical-grade alumina averaged 179,000 tonnes per day. However, some alumina refineries have begun to recover production since late February, as their inventories of imported and domestic bauxite recovered to safe levels after truck transport capacity tightness eased and private mines in Henan resumed work...
Altech looks forward to US$ 90 million mezzanine debt from Macquarie for its Malaysia HPA Project
Altech Chemicals announced this week announced the probability of getting mezzanine debt worth US$ 90 million from Macquarie Group for its Malaysian High Purity Alumina Plant project. Altech said the positive response from Macquarie came on the back of the recent increased profile of planned lithium-ion battery plants being constructed in Europe. However, the receipt of the debt is subject to various internal approvals and inter-creditor arrangements with senior lender KfW IPEX-Bank in Germany, said Altech. Altech’s Malaysian HPA project will secure kaolin clay feedstock from Meckering in West Australia, and the plant will be capable of producing alumina product that can achieve 99.99 per cent purity. According to the report, Altech has also posted a suit of innovative financing...
A new building for Oklohoma Contemporary Art Centre is designed with extruded aluminium fins
The US firm, Rand Elliott Architects, has reportedly designed a new building with extruded aluminium for the Oklahoma Contemporary Art Centre. The 53,916-square-foot building is covered with 16,800 extruded aluminium fins, replacing the original home at Oklahoma City's State Fair Park. Thousands of extruded aluminium fins used for the building walls, which rise to varying height and angles, have been custom fabricated and taken through a process to lend a stronger sheen to the metal and make them more reflective. "The new building is architecture created to celebrate the ever-changing light in Oklahoma," firm founder Elliot said. Earlier, the firm also used white aluminium fins for the parking garage of the Chesapeake Energy Corporation in Oklahoma. For Oklahoma Contemporary, the fins...
LME aluminium price plunged to $1715/t with the US dollar decline to eight-week low; SHFE price dropped too
The US dollar slipped to a fresh eight-week low as US benchmark 10-year Treasury yields declined and traders bet the Federal Reserve will cut interest rates further, after slashing them by 50 basis points this week. The dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since January 2 at 96.51. Three-month LME aluminium trimmed some losses after it dipped to a session low of US$ 1,722.5 per tonne, which remained above the five- and 20- day moving average. It finished the day 0.35 per cent lower at US$ 1717.5 per tonne, with open interest up 2,625 lots to 744,000 lots as longs loaded up their positions. Today, LME aluminium is expected to hover range-bound between US$1,700 per tonne and US$ 1,730 per tonne. As of Thursday, March 5,...
Ball Corporation receives ASI Performance & CoC Standard Certification for responsible production
Aluminium Stewardship Initiative has announced today, on March 5, that it has certified Ball Corporation with its Performance and Chain of Custody Standard Certification. 23 plants of Ball Corporation in the Middle East, Europe, and Africa, as well as the regional headquarter, quality assurance, and manufacturing facilities for beverage can bodies and ends have received the certification, as per the report. Ball Corporation, the world’s largest producer of aluminium cans, is the first can manufacturer to achieve the ASI Certification for its responsible production, sourcing, and stewardship of aluminium. The ASI Performance Standard sets out 59 criteria under the three sustainability pillars of Governance, Environment, and Social, which address key issues such as biodiversity, indigenous...
Chinese aluminium billet inventories record a rise, but slower from last week
According to Shanghai Metals Market, aluminium billet inventories in China have extended their growth this week, although slower from a week ago. Increased shipments from warehouses have been the main reason behind another week of a rise in billet inventories. SMM data shows the stocks of 6063 aluminium billet have grown by 6,400 tonnes over the week across five major consumption areas in China, in contrast to a growth of week-on-week 19,300 tonnes last Thursday, February 27. The inventories, as of March 5, stand at 218,900 tonnes. <iframe width="500" height="300" src="https://www.youtube.com/embed/1pdOZcEbQuc" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> The chart below shows the current status of aluminium...
Chinese A00 aluminium ingot price grows by RMB50/t, and so the price of aluminium alloys (A356)
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a hike of RMB 50 per tonne on Thursday, March 5, followed a significant decline of RMB 130 per tonne to RMB 13,010 per tonne. The ingot price today stands at RMB 13,060 per tonne, down by RMB 330 per tonne week-on-week. This indicates the Chinese primary aluminium prices are currently recording rapid downfall due to the continued weak demand among downstream consumers and surge in inventories. The average prices, as of today, are expected to range between RMB 13,040 per tonne and RMB 13,080 per tonne, with spot contract to be traded at a discount price of RMB 70 per tonne to RMB 30 per tonne. The price in Gongyi has grown the highest by about RMB 85 per tonne to RMB 13,000 tonnes, followed by Shenyang, where...
LME aluminium price inched up to US$1723.5/t while the US dollar recovered lost ground
The US dollar recovered lost ground on Wednesday, March 4, after a day of an emergency interest rate cut by the Federal Reserve knocked the greenback to an eight-week low. The dollar index, which tracks the greenback against a basket of other currencies, bounced back 0.43% and hit an intraday high of 97.6. Three-month LME aluminium slipped to as low as US$ 1,717 per tonne overnight before easing some losses and ending down 0.26 per cent on the day. Limited improvement in fundamentals kept aluminium prices under pressure. LME aluminium is expected to be traded between US$1,705 per tonne and US$ 1,750 per tonne. LME aluminium cash (bid) price, as of Wednesday, March 4, continued to extend its growth significantly by US$ 17 per tonne to stand at US$ 1722.5 per tonne, while LME official...
US alumina exports to Mexico, Canada saw a Q-o-Q fall of 18% and 21% in Q3 2019
According to the United States Geological Survey, the country in the third quarter of 2019 ending September 30 had exported 10,000 tonnes of alumina to Mexico, whereas in the second quarter had supplied 12,200 tonnes. The USGS data found that this downfall of about 18 per cent in Q3 was a continued affair, as the United States’ alumina exports in Q2 2019 was also down by about 32 per cent from the previous quarter’s 14,700 tonnes. Year-on-year, the United States alumina exports to Mexico in Q3 2019 had recorded a decline of 29 per cent from 14,000 tonnes. Mexico was the leading destination of the United States alumina exports in the third quarter of 2019, followed by Canada. The US in Q3 had exported 7,350 tonnes of alumina to Canada, down 21 per cent from 9,280 tonnes in Q2. In Q1, the...
CANPACK expanding capacity in Colombia and Russia by more than 1 billion cans annually
According to a recent report, CANPACK is expanding its capacity by more than 1 billion cans annually in Colombia and Russia, as the aluminium cans market in those two countries shows a positive sign of growth. Companies in both Colombia and Russia seek additional capacity for their products, driven by the renewed focus on environmental sustainability and growth in sales. Roberto Villaquirán, CEO of CANPACK Group commented: “We are excited to increase capacity in these markets and continue to offer clients a wide range of aluminium packaging innovations. With a renewed focus on environmental sustainability and continued growth from sectors beyond beer, soft drinks and energy drinks like wine, coffee, teas and water, more brands are turning to CANPACK to help them bring products to market.”...
Ducab sets up a new dedicated unit to supply aluminium, copper solutions to its global customer base
Ducab, aluminium and copper cables manufacturer owned by Abu Dhabi’s General Holding Corporation and Investment Corporation Dubai, has reportedly launched a new subsidiary unit Ducab Metals Business (DMB), aiming at supplying locally-manufactured aluminium and copper solutions to a global customer base. As per the report, Ducab has already consolidated its metal operations into its newly launched unit. The Ducab subsidiary exports 75 per cent of its production to more than 35 countries in the wider MEA region, Asia, Europe, and America. In 2019, before establishing the dedicated unit, Ducab’s copper and aluminium business had generated revenue above $544.5 million. Ducab Metals Business will primarily cater to companies in the electrical manufacturing industry. It will have the capacity...
Three-month LME aluminium extended growth by 0.67% on the lowest dollar index since early this year
The US dollar fell across the board after the US Federal Reserve cut interest rates on Tuesday, March 3, in an emergency move designed to shield the economy from the impact of the coronavirus.The dollar index, which tracks the greenback against a basket of other currencies, slipped to the lowest level since January 8 at 96.92. In a statement, the US central bank said it was cutting rates by a half percentage point to a target range of 1.00% to 1.25%. Three-month LME aluminium rose to an intraday high of US$ 1,734 per tonne and finished 0.67 per cent higher on the day at US$ 1,728 per tonne, as the surprise interest rate cut from Fed lifted market sentiment. Trading range is expected at US$ 1,705 per tonne to US$ 1,750 per tonne. LME aluminium cash (bid) price, on Tuesday, March 3,...
