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.
Alumina capacity in China to expand by 6.2 million tonnes in 2020, estimates SMM senior aluminium analyst
Liang Xuan, a senior aluminium analyst at Shanghai Metals Market, estimates China’s alumina market to turn into a “tangible surplus” in the fourth quarter of 2019, as the newly started refineries ramp up their domestic production and import arbitrage window opens. As per Liang’s estimation, alumina capacity in China will likely expand by 2.5 million tonnes on an annualised basis in 2019 and 6.2 million tonnes in 2020. China has a built-in alumina capacity of 83.6 million tonnes, with 70.94 million tonnes of metallurgical-grade capacity in operation. On Thursday, November 7, Liang pointed out at the 2019 South China Metals Summit that in September, metallurgical-grade alumina supply in China was in a moderate surplus of 2,000 tonnes as the recovery of idled capacity slowed than expected,...
Aluminium billet inventories decline by 3% for the fourth straight week in China
According to Shanghai Metals Market, inventories of aluminium billet in China, on November 7, declined for the fourth straight week, even after downstream consumption slowed down. SMM data showed the stocks of 6063 aluminium billet across five major consumption areas in China inched down 3,800 tonnes or 3.27 per cent from October 31 to come in at 112,400 tonnes. Last week, the stocks had declined by 1,900 tonnes to stand at 116,200 tonnes, meaning the decline increased this week. The chart below indicates the current status of aluminium billet inventories across China in more details: The billet inventories in Foshan, Guangdong dropped by 3,500 tonnes or 6.3 per cent to stand at 51,500 tonnes, while that in Changzhou, Jiangsu; and Huzhou, Zhejiang dwindled by 900 tonnes or 5.2 per cent...
Canada’s August aluminium scrap exports to the US stood second-lowest in 2019
According to the data from the United States Geological Survey, Canada’s aluminium scrap exports to the US in August stood at 31,000 tonnes, second-lowest since the year began. In February, the country’s scrap exports to the US were at 28,200 tonnes, which were the lowest so far after inching down from 31,800 tonnes in January, meaning the volume declined by 11.32 per cent. {newsStudioGallery} The USGS data also revealed that followed by the decline in February, Canada’s aluminium exports to the US began to rise and continued until May. In March the country’s exports were at 31,700 tonnes, while that in April and May were at 32,700 tonnes and 34,100 tonnes. This represents that the export volume grew by 12.41 per cent in March, 3.15 per cent in April, and 4.28 per cent in May. As the...
Southland launches petition as part of fairness campaign to save Tiwai Aluminium Smelter
As per the plan, Southlanders have reportedly launched a petition as part of the fight for saving the Tiwai Aluminium Smelter and getting a fair operating environment. According to the report, the Southland Chamber of Commerce launched the online petition at 4 pm on Wednesday and already received 736 signatures. Chamber chief executive Sheree Carey said the petition was one of the ways to make the government aware of the frustration and anger of the Southlanders about uncompetitive power costs of nearly $200 million charged over the smelter in the last 10 years, resulting in weighing down the smelter. The Tiwai Aluminium Smelter was a producer of the highest purity and lowest carbon aluminium in the world, accounting for 6.5 per cent of Southland’s GDP and export revenue of around $1...
China aluminium production to significantly grow in 2020: Andy Home at LME Week 2019
Andy Home, a Senior Metals Columnist at Thomson Reuters, said at the SMM London Metal Exchange Week 2019 that China’s aluminium production would likely grow significantly in 2020, indicating a potential jump in exports in anticipation of relatively moderate growth in domestic demand. SMM research found Sichuan Guangyuan Zhongfu was planning to start a new capacity of 250,000 tonnes per year this month, while Yunnan Shenhuo would put its 150,000 tonnes per year capacity into operation. The output from Mengtai which was commissioned in the second half of October was available in the markets, while it was heard that Xinfa would resume part of its capacity in November. Home further said that considering the expectations of greater supply, the downside in aluminium prices would be expectedly...
Arconic sees a marginal year-on-year revenue rise in Q3 2019 amidst lower net income
Arconic, in the third quarter results, revealed that its revenue grew 1 per cent year-on-year to stand at $3.6 billion, while the net income dropped from $161 million, or $0.32 per share, in the third quarter of 2018 to $95 million, or $0.21 per share in Q3 2019. The operating income also inched down from $345 million in Q3 2018 to $326 million in Q3 2019. Operating income excluding special items was $475 million, up 36% year over year, due to favourable product pricing, higher volume, favourable aluminium prices, and net cost reductions more than offset operational challenges in the aluminium extrusions business and unfavourable product mix. Cash balance, as of the third quarter of the year, was at $1.3 billion, according to the company’s report. Arconic Chairman and Chief Executive...
Metro Mining records strongest monthly shipments till data at Bauxite Hills during October
Metro Mining Limited, in its monthly performance report, revealed that its bauxite shipments at Bauxite Hills Mine during October came in at 504,000 wet metric tonnes (WMT), marking the strongest monthly performance since operations began in April last year. Compared with 497,000 tonnes in September, the shipments in October stood higher by 1.4 per cent. Good weather conditions and seasonal high tides with loading rates maintained above 16,000 tonnes per day could be the primary reason for this robust level of shipments last month. The mining volume in October came in at 479,000 tonnes, which was, however, down by 4 per cent from 501,000 tonnes in September . The mining per day stood at 15,452 tonnes, again down by 7.4 per cent from 16,696 tonnes month-on-month. Up until October 31, the...
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...
