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.
A00 aluminium ingot price drops by RMB30/t after three consecutive growth; Input costs remain restrained
After the three consecutive rises, the A00 aluminium ingot price has inched down today, on November 6, by RMB 30 per tonne to RMB 14,100 per tonne, marking the first decline this month, found Shanghai Metals Market. The SMM data shows that average prices are expected to range between RMB 14,080 per tonne and RMB 14,120 per tonne, with spot contract to be traded a premium price of RMB 40-80 per tonne. As the decline in A00 aluminium ingot price has touched upon almost all the major markets, except Linyi, the price in Hangzhou, Chongqing, and Gongyi has dropped by RMB 25 per tonne to RMB 14,095 per tonne, RMB 14,065 per tonne, and RMB 13,965 per tonne, respectively. In Wuxi, Foshan, Shenyang, and Tianjin, the price has dwindled by RMB 20 per tonne and RMB 10 per tonne to hover at RMB 14,100...
Xiaomi unveils its first smartwatch with an aluminium alloy frame and 1.78 inch AMOLED display
Xiaomi, on Tuesday, November 5, has reportedly unveiled its first smartwatch, dubbed as Mi Watch, alongside the new Mi CC9 Pro and Mi TV 5 series at an event in Beijing. Featuring a 1.78 inch AMOLED display, the watch looks very similar to the Apple Watch. It comes with a 44mm dial and sports aluminium alloy frame with a matte finish, besides featuring a ceramic back cover, curved Gorilla Glass 3 protection on the front, and rubber strap. According to Xiaomi, Mi Watch is priced at CNY 1,299 (roughly INR 13,000), whereas the premium variant will retail at CNY 1,999 (roughly INR 20,000). The sale of the watch will start from November 11 in China, while nothing is known yet about the launch of the product outside China. The Mi Watch is powered by Qualcomm Snapdragon Wear 3100 SoC and...
Vripack and Nordhavn unveil the concept their first metal superyacht built in steel and aluminium
Dutch design studio Vripack and US builder Nordhavn have reportedly unveiled the concept of their first metal superyacht Nordhavn 148 at this year's Fort Lauderdale International Boat Show. Built with steel and aluminium, the 45.1-metre long Nordhavn 148 features a flared bow and square and round windows that lend a chic aesthetic beauty to the yacht. Nordhavn said the new model with 495 GT would “push the brand to go beyond prior engineering feats.” In builder’s words, Nordhavn 148 is a crossover yacht that brings together the commercial benefit and aesthetic charm. Vice president of Nordhavn’s Pacific Asian Enterprises division Jim Leishman said: “We’ve talked about building a larger boat for a while now. It would be something specifically meant for the most challenging worldwide...
US aluminium semis exports to Canada increased by 4% in August, but to Mexico down by 6%
Extending the rise in August, the United States exports of aluminium plates, sheets and bars to Canada came in at 31,100 tonnes, found the USGS data. In June 2019, the aluminium plates, sheets and bars exports by the US to Canada were at 27,300 tonnes, while that in July were at 30,200 tonnes, meaning the exports in August grew 15 per cent from June and 4 per cent from July. {newsStudioGallery} With this month-on-month growth, the United States exports to Canada in the first eight months pegged at 229,000 tonnes, compared with 198,000 tonnes in the first seven months and 168,000 tonnes in six months. After Canada, Mexico was the second largest destination of the US aluminium plates, sheets and bars exports in August, which secured 29,700 tonnes, down 6.3 per cent from 31,700 tonnes in...
Sarawak’s 1% sales tax on aluminium products exports may hurt Press Metal earnings: AmInvestment Bank
Sarawak’s decision to impose a 1 per cent sales tax on exported aluminium products from January 1 may end up hurting the earnings of Press Metal Aluminium Holdings Bhd in the future, estimates AmInvestment Bank, according to a report. Based on the estimates, the new tax is likely to cost Press Metal by RM64 million and RM89 million in FY20-21, eroding FY20-21 net profit by 6 to 8 per cent and lowering FV by about 7 per cent to RM3.54 (based on the same 18x earnings multiple). AmInvestment says Press Metal is currently seeking clarification from the state government on the new tax matter. Furthermore, according to AmInvestment, earnings outlook for aluminium smelters globally is cloudy due to weak aluminium price and high input costs, resulting in margin squeeze. Besides, the research...
Wilbur Ross hopes to avoid imported automobiles tariffs after discussions with Japan, Korea, EU
After discussions with automakers, including the firms in Japan, the United States may not levy tariffs later this month on imported automobiles from the European Union and elsewhere, said Commerce Secretary Wilbur Ross. “We’ve had very good conversations with our European friends, with our Japanese friends, with our Korean friends, and those are the major auto producing sectors,” he said. He also said that if the negotiations over capital investment plans become fruitful with those countries then imposing the section 232 tariffs would not be required, neither partly nor fully. In May, the Trump Administration had agreed to delay new tariffs on imported vehicles and parts for six months as Washington was then engaged in negotiations with the European Union and Japan. In September, the US...
Seamless Aluminium expands its aluminium rainwater systems manufacturing unit
Seamless Aluminium Group, a market leader for aluminium rainwater systems, is expanding its manufacturing unit in Ballyshannon over a 70,000 square feet plant. According to a report, it recently held the official opening of the extension, unveiling a commemorative plaque. The new plant features high tech production machinery including a state of the art, digitally controlled electrostatic powder coat paint line and pre-treatment plant, and an array of machinery to achieve the group’s main unique selling point – bespoke, unique and high-quality systems. Since when the company started in 1975 by Donal Kelly and his father Denis, Seamless Aluminium Group has been supplying aluminium gutters and concrete building products in the North West of Ireland. With time, it developed into a highly...
Sarawak to impose a 1% sales tax on aluminium products exports from January 1
Sarawak, a Malaysian state on Borneo, will reportedly levy a 1 per cent sales tax on its exported aluminium products from January 1, 2020. The news came after Sarawak’s Chief Minister Abang Johari Openg said this today while tabling the 2020 state budget. He also said that this new tax would bring an expected revenue of RM58 million. According to him, this tax is to aid the state’s efforts in maintaining momentum and keeping pace with development, especially for rural areas that require substantial funding. The tariff for the abstraction of raw water will also be revised from 1 sen per cubic metre to 2.5 sen per cubic metre. However, the tariff will only affect power and water providers in the state, said Openg. “The electricity and water charges to consumers for both industrial and...
Malaysia to issue licenses by January for the restart of bauxite mining and exporting
According to a Reuters report, Malaysia will issue bauxite mining licenses to companies in December or January, which will allow the miners to resume activities after the ban in early 2016 over unregulated mining and water contamination. The news came after Xavier Jayakumar, Malaysia’s water, land and natural resources minister announced this in a parliament. Malaysia was once the biggest bauxite supplier to top aluminium producers in China. At the end of 2015, the bauxite shipments from the Southeast Asian country were about 3.5 million tonnes. The mining mostly used to take place near the east coast port city of Kuantan in Pahang state of Malaysia. Earlier this year, the Malaysian government had lifted the ban on mining, with a condition that the miners had to conduct an environmental...
A00 aluminium ingot price extends its growth today on further inventory decline; Aluminium alloy price also rises
On the further fall of primary aluminium inventories by 12,000 tonnes to 858,000 tonnes over the weekend, the price of A00 aluminium ingot has recorded a rise of RMB 60 per tonne to RMB 14,060 per tonne, found Shanghai Metals Market on November 4. This marks the second consecutive growth since the month began. SMM expects the average prices to range between 14,040 per tonne and RMB 14,080 per tonne, with spot contract to be traded at a premium price of RMB 50-90 per tonne. SMM data showed the primary aluminium inventories today fell comparatively at a slower pace. On last Monday, October 28, the inventories had declined by 23,000 tonnes over the weekend to come in at 859,000 tonnes. This further illustrates that week-on-week the inventories are down by 1,000 tonnes, as of November 4. The...
Rossinavi and Pininfarina team up to present 65 metre all-aluminium superyacht concept
According to a recent report, Italian superyacht builder Rossinavi has collaborated with automotive style house Pininfarina for a second time to present the 65 metre all-aluminium superyacht concept Super Sport 65. Unveiled at the Fort Lauderdale International Boat Show, the concept has been designed inside and out by Pininfarina. The design has taken inspiration from high-performance car design and the “fluidity of Pininfarina’s iconic style", the builder said. The superyacht has an 11-metre beam and draft of 2.2 metres that give the yacht an easy access to shallow and remote bays. The total accommodation capacity of the yacht is for 12 guests in six cabins, including a large owner’s cabin at the bow. The crew quarters, on the other hand, consist of seven cabins for the captain and crew...
Moves to reduce plastic packaging paving path for increasing use of aluminium: Emilio Braghi, Novelis
The European head of Novelis has reportedly pointed out that moves to reduce plastic packaging as a measure to protect the environment have started increasing the demand for aluminium packaging. Also, the trend towards electric cars is bolstering the demand for aluminium, according to world’s largest rolled aluminium producer’s senior vice president and Europe president Emilio Braghi. “Consumers want more sustainable beverage packaging options, which is having a direct and positive impact on aluminium demand as aluminium cans provide a sustainable alternative to single-use plastic bottles,” Braghi said in an interview for LME Week 2019. He added that some of the world’s biggest beverage brands announced to address the plastic waste challenge by introducing new aluminium packaging for...
Beijing plans to replace gas-powered taxis with electric cars, aiming at boosting NEV sales
Shanghai Metals Market reports that China is speeding up the development of new energy vehicles, as Beijing and other major cities have announced plans to replace gas-powered taxis with electric cars in the next few years, as part of an initiative to boost NEV sales and reduce pollution. The Beijing Municipality Transport Commission said on October 30 that in the next two years, all newly registered or replacement taxis in Beijing have to be fully electric. According to the report from the commission, more than 1,000 brand new fully electric taxis have already hit the road in Beijing. By the end of next year, the target is to switch 20,000 taxis to NEVs. Shenzhen, the technology hub in South China, has also taken the lead among many other Chinese cities. Only fully electric vehicles will...
China’s alumina imports continued to surge in September by 331.9% YoY, while exports dropped
After the month-on-month fall in August 2019, China’s General Administration of Customs data found that China’s alumina import in September 2019 grew from the previous month by about 25 per cent to stand at 147,000 tonnes. In August, the import volume was at 120,000 tonnes after dropping by 40 per cent from 200,000 tonnes in July. Besides, on a yearly basis, China’s imports in September continued to record a robust surge of 331.9 per cent, but at a slower pace compared with August when the aluminium ore imports had soared by 848.4 per cent year-on-year. In the total nine months of 2019, China’s alumina imports came in at around 790,000 tonnes, up 93.3 per cent from the same period last year. According to report from China Nonferrous Metals Industry Association in June, China was expected...
Primary aluminium inventories stand at 870,000t after three consecutive W-o-W falls
According to Shanghai Metals Market, the social inventories of primary aluminium, on Thursday, October 31, declined for the third consecutive week, as arrivals remained limited and consumption stayed robust. SMM data showed the primary aluminium stocks across eight major Chinese consumption areas, include SHFE warrants, plunged by 12,000 tonnes from a week ago to stand at 870,000 tonnes. On last Thursday, October 24, the primary aluminium inventories had decreased by 34,000 tonnes week-on-week to come in at 882,000 tonnes, followed by the decline of 61,000 tonnes to 916,000 tonnes on October 17. This indicates that although the primary aluminium inventories declined over the past three consecutive weeks, but recorded a slower pace each week. The chart below indicates the current status of...
NEA rolls out reverse vending machines in Singapore for promoting aluminium cans, plastic bottles recycle
National Environment Agency (NEA), together with drinks manufacturer Fraser and Neave (F&N), reportedly launched reverse vending machines at Our Tampines Hub in Singapore on Thursday, October 31, as part of 'The Recycle N Save' initiative. The machines will accept empty drink cans and plastic bottles, and for every four drink receptacles will issue a discount voucher worth 20 cents, which can be used at any FairPrice, Cheers, or FairPrice Xpress outlet. As per the report, the vending machines are capable of holding up to 600 aluminium cans and plastic bottles at a time, featured with a compactor that flattens the drink cans and bottles to save space. The initiative followed favourable response from the public to the pilot initiative at Waterway Point in Punggol in January last year. The...
US tariffs on metal imports weighed down domestic aluminium market: Andy Home at LME Week 2019
United States tariffs on aluminium imports had a great effect on the country’s domestic aluminium industry, said Andy Home, Senior Metals Columnist at Thomson Reuters, at the London Metal Exchange Week 2019. As the US import duties came into effect on the national security grounds in early 2018, the US Midwest premium, which overlays the LME cash price, expanded from 10 cents per pound to 22 cents per pound. The premium later eased to 18 cents per pound, though much higher than levels seen before the imposition of the tariffs. This hike in prices was primarily because of the disruption in supply chain, both primary aluminium and semi-finished, as a result of lesser imports due to tariffs. However, the above graph indicates that the steel and aluminium import tariffs in 2018 had no impact...
Southland leaders to launch campaign to save Tiwai Aluminium from production halt
According to a recent report, Southland leaders will start a campaign to save the Tiwai Point Aluminium Smelter from being closed. Campaign leader Carla Forbes said the campaign would be about getting a fair operating environment in the smelter besides highlighting on the fact that the smelter was not only good for Southland but all of New Zealand. "Aluminium is a smart metal, it's in every iPhone, in aeroplane wings ... it's the metal of the future and we make the world's best. It's a vital component in the technological landscape," said Forbes. Smelter owner Rio Tinto, however, has not made any decisions about its future. It is reviewing different options that also include closure, as low aluminium prices and high energy costs may become threats to its ongoing viability. Rio is also...
