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.
Century Aluminium’s net sales dropped 3% over the quarter in Q2 2019; Adjusted EBITDA declined by over 70%
The US-based global aluminium producer Century Aluminium, on August 1, announced that its net sales for the second quarter of 2019 declined 3 per cent over the quarter to come in at $473.1 million. In Q1 2019, the company’s net sales were at $490 million. It reported a net income loss of $20.7 million or $0.23 per share, compared to a net loss of $34.6 million or $0.39 per share for the first quarter of 2019. The adjusted net loss in Q2 valued at $16.2 million or $0.17 per share, while that in Q1 was at $66.6 million or $.070 per share. According to the firm, its second quarter results had been negatively impacted by $4.5 million of exceptional items, driven by a $9.0 million lower of cost or net realizable value inventory adjustment and a $4.3 million loss on the sale of its BHH...
A00 aluminium ingot price continues to fall on lowered input costs, brisk trade and improved inventory
The A00 aluminium ingot price has dropped for the second day in a row on Friday, August 2, by RMB 40 per tonne to come in at RMB 13,830 per tonne, found Shanghai Metals Market. Improved inventory of primary aluminium on August 1, along with sluggish costs of alumina and prebaked anode could be the two primary reasons for the downfall of aluminium ingot price. Also, the spot aluminium trading was found brisk in the last two days on active transactions among traders, resulting in lowered aluminium ingot price. However, month-on-month the price is standing higher by RMB 180 per tonne. According to SMM, the average prices are expected to range between RMB 13,810 per tonne and RMB 13,850 per tonne, with spot contract to be traded at a premium price of RMB 40 per tonne. Tianjin has seen the...
Primary aluminium inventories grow by 5,000 tonnes over the week
According to Shanghai Metals Market , the social inventories of primary aluminium in China have recorded a second weekly rise today, on August 1, in the past four weeks. Data shows the stocks across eight major consumption areas in China, including SHFE warrants, have come in at 1.04 million tonnes after growing by 5,000 tonnes from a week ago and 11,000 tonnes from Monday, July 29. On July 25, the inventories were at 1.035 million tonnes and on July 29 at 1.029 million tonnes. However, the growth today in primary aluminium inventories could not touch upon all the major Chinese markets. Hence, inventories in Wuxi, Jiangsu; Hangzhou, Zhejiang; Linyi, Shandong; and Shanghai plunged by 9,000 tonnes, 3,000 tonnes, and 1,000 tonnes, respectively. Other markets like Nanhai, Guangdong; Gongyi,...
China’s prebaked anode exports record a marginal rise of 1% in H1 2019
The latest customs data shows that China’s exports of prebaked anode in the first half of 2019 has grown marginally by 1 per cent to come in at 622,000 tonnes, compared with 615,780 tonnes in the same period last year. In June 2019, the export volume was at 131,000 tonnes, up 52.5 per cent from 62,225 tonnes in May 2019 but down 0.2 per cent from 131,262 tonnes in the corresponding period of 2018. {newsStudioGallery} The data further shows that Malaysia was the leading export destination of China’s prebaked anode in the first half of 2019. As per the data, China shipped 222,000 tonnes, a decrease of about 1 per cent from 224,220 tonnes in the same period last year. Canada was the second largest destination where China exported 9.5 per cent of more prebaked anode in H1 2019, amounting...
Aluminium billet inventories in China continue to rise by some 700 tonnes this week
According to Shanghai Metals Market, the inventories of 6063 aluminium billet have extended week-on-week growth by some 700 tonnes today, August 1, across five major consumption areas in China to stand at 83,400 tonnes. On July 25, the inventories were at 82,700 tonnes after rising by some 1,600 tonnes from its previous week. This indicates a slower growth this week ended on August 1, 2019. In Changzhou, Jiangsu, the aluminium billet inventories have risen by some 1000 tonnes to stand at 12,000 tonnes, as of August 1, while in Nanchang, Jiangxi, and Wuxi, Jiangsu, the inventories have increased by 700 tonnes and 100 tonnes to stand at 5,300 tonnes and 14,700 tonnes respectively. In markets like Foshan, Guangdong, and Huzhou, Zhejiang, the inventories have either remained restrained or...
Alumina and prebaked anode price drop by RMB18/t and RMB25/t; A00 aluminium ingot price also declines
According to Shanghai Metals Market, the average spot price of alumina has started the month with a drop of RMB 18 per tonne to RMB 2,457 per tonne, as of August 1, 2019. With this, the price records a month-on-month decline of RMB 301 per tonne. Since the end of May, the spot alumina price is registering a sluggish trend ranging between RMB 3119 per tonne, as of May 29, to RMB 2,457 per tonne today. The rise in alumina import into the market and therefore, the lesser consumption of domestic production could be one of the reasons for this incessant drop in the spot price of alumina. In the south, the price today has declined by RMB 30 per tonne to RMB 2,435 per tonne, while that in the east, central, and north has inched down by RMB 20 per tonne and RMB 10 per tonne to RMB 2,480 per...
Press Metal inks PPA to secure more power for smelting capacity expansion
Malaysia-based aluminium company Press Metal Aluminium Holdings Berhad has reportedly signed a power purchase agreement with Syarikat SESCO Berhad, a unit of Sarawak Energy Berhad, on July 31, 2019, in a bid to secure more power for capacity expansion. According to the agreement, Syarikat SESCO Berhad will provide long-term access of up to approximately 500MW of electricity to Press Metals for 15 years. Press Metal revealed in a statement that the first drawdown of 300MW would expectedly commence by October 2020, while the remaining 200MW to be made available on a reasonable endeavour basis by SESCO. This additional access to power will enable the Malaysian aluminium company to build a third aluminium smelter in Samalaju Industrial Park, Sarawak, leading to the increase in the company’s...
Tasmanian fertiliser-grade bauxite sales increasing, says ABx in its Q2 report
Australian Bauxite Limited posted increasing sales of Tasmanian fertiliser-grade bauxite in its second quarter report. The company said in the report that superphosphate fertiliser made by acid processing bauxite from the Bald Hill Mine near Campbell Town gained strong sales. In early June, about 32,477 tonnes of cement-grade bauxite was loaded and shipped from Bell Bay, having been produced and delivered to port 3 weeks ahead of schedule. Bulk-sampling at the Binjour bauxite project in QLD confirmed grades and upgrading tests were successful. According to the company’s report, rehabilitation at Bald Hill is also nearing completion “in accordance with ABx’s high standards. The company has a range of deposits in Tasmania, Queensland, and New South Wales. At the end of June quarter, the...
Vedanta aims to increase aluminium export to more than 50 per cent of its production
According to a recent report, Vedanta Limited aims to export more than half of its aluminium production to international markets, as the imports of the metal to India is continually increasing. According to the company’s annual report for FY2019, only 30 per cent of the company’s sales were in the domestic market, while imports comprised 58 per cent of India’s consumption during that period. India’s aluminium imports in FY2019 peaked at 2.3 million tonnes, resulting in a forex outgo of $5.5 billion or one per cent of total imports by value. “Over the last few years we have observed a surge of aluminium scrap imports," said Ajay Kapur, chief executive officer (aluminium and power) of Vedanta Ltd. He also said, "We, as an industry, are working with the Indian government seeking support to...
Bauxite price increases by RMB20/t after three months; A00 aluminium ingot price extends rise
After remaining muted for about three months at RMB 540 per tonne, the average price of Bauxite (6.0≤Al/Si＜7.0)Shanxi has recorded a growth of RMB 20 per tonne to RMB 560 per tonne, as of July 31, learned Shanghai Metals Market. This is the third change in Bauxite (6.0≤Al/Si＜7.0)Shanxi price this year, followed by a price drop from RMB 570 per tonne to RMB 550 per tonne, as of January 28, and then another decline on April 24 to RMB 540 per tonne. The price of Bauxite (6.0≤Al/Si＜7.0)Henan, on the other hand, has registered a plunge by RMB 30 per tonne to RMB 520 per tonne. From May 5 to July 30, the Bauxite (6.0≤Al/Si＜7.0)Henan price remained restrained at RMB 550 per tonne. Backed on the rise in bauxite price, the A00 aluminium ingot price has also extended its growth from RMB 13,900 per...
Garcia’s first yacht in Exploration 60 features aluminium hull and deck structure
French shipyard Garcia Yachts, specialised in aluminium blue water cruising sailboats construction, has reportedly begun developing the first hull in its flagship Exploration 60 range. The key features of the vehicle include an aluminium hull and deck structure, as well as aluminium forward and aft bulkheads. The coach roof is fitted with large glass panels to allow passengers to enjoy a panoramic view of the outside world. A totally flush deck, refined exterior lines, and an interior helm station are some of the other notable features of the yacht. The versatile transom area doubles up as a diving platform, boarding area or bathing beach. The Exploration 60 can be operated with or without crew. It offers three layouts in two different interior styles. The “standard” layout features two...
Iceland’s total alumina import and import from Australia to grow in 2019 after declining last year
The presence of abundant electrical power in Iceland due to geothermal and hydroelectric energy sources has been buoying the aluminium production in Iceland. Aluminium producers like Alcoa and Century Aluminium which have closed smelters in the U.S. are still running facilities in Iceland, mostly because of the cheaper hydroelectricity in the country. Needless to say, this demands the heavy supply of alumina as well, which Iceland secures from various parts of the world, mostly from Australia. {newsStudioGallery} Here in the below graph you will see a comparative study between Iceland’s total alumina import and the import from Australia. As per the global-export import data, Iceland in 2016 obtained1.07 million tonnes of alumina from all over the world, out of which 288,134 tonnes came...
Ardagh introduces copper colour tabs and shells for aluminium cans
Ardagh Group, a Luxembourg-based producer of glass and metal products, reportedly expands its range of coloured tabs and shells for aluminium cans with copper colour. The copper effect is for increasing the visual impact of canned products. The colour is approved for both Ardagh’s coloured tabs and shell lines, meaning the customers can choose the copper colour for both parts of the beverage end together or mix-and-match with other colour options. Ardagh said the copper colour would be an apt choice for those final products that are linked with copper still distilling or where the brand is positioned at the top end of the market and seeks an exclusive appeal. Dirk Schwung, sales director at Ardagh Group’s European metal beverage division, said: “We are proud to be introducing this unique...
Bumchun Precision to construct aluminium battery terminals plant in Hungary
Bumchun Precision will reportedly construct an aluminium battery terminals manufacturing facility in Hungary with an investment of EUR40.8 million (US$45.3 million). As per the report, Hungarian government is providing EUR8.13 million in funding towards the investment. The facility, to be built in Salgótarján, will manufacture aluminium battery terminals for electric vehicles and will create 200 new jobs (approx.). Minister of Foreign Affairs and Trade, Péter Szijjártó, said: "The Government would like to develop Hungary into a production location within this field, and it regards South Korea as an ally in view of the fact it is in the most part investments realised by South Korean enterprises that are designating the winners of the new industrial era." According to the Minister, the...
LATAM to recycle aluminium, glass, plastics through its new-launched on-board recycling programme
LATAM Airlines Group has reportedly launched an on-board recycling scheme called ‘Recycle Your Journey’. Through this scheme, waste from Mercado LATAM will be recycled on all domestic flights in Chile, separating aluminium, glass, and plastic. This initiative will soon be introduced throughout LATAM’s operation in Latin America, as part of the company’s wider sustainability strategy and its commitment to become a leader in on-board recycling. Ignacio Cueto, President of LATAM Airlines Group said, “As one of the three most sustainable airline groups in the world, we are committed to bringing about change and leading by example. Today’s launch of our ‘Recycle your Journey’ programme on domestic flights in Chile represents just the first step towards the introduction of on-board recycling...
President of DR Congo invites Engineers and Planners for commercial bauxite mining
President of the Democratic Republic of the Congo, popularly known as DR Congo, Mr. Felix Tshisekedi has reportedly invited Engineers and Planners to start commercial bauxite mining in the area. Mr. Felix has also sought support from Engineers and Planners to build the capacity of the power sector in DR Congo. Engineers and Planners is Ghana’s leading mining contracting firm that provides mine support services. According to the report, President Tshisekedi extended the invitation to Engineers and Planners when he met the company’s CEO, Mr. Ibrahim Mahama, on Saturday, July 27, to discuss investment opportunities in DR Congo. Mr. Ibrahim Mahama has accepted the invitation as well, as per the report, as has promised to give the best. Stakeholders in the mining sector of Africa have...
Primary aluminium inventories extend decline over the weekend; A00 aluminium ingot price fails to rise
According to Shanghai Metals Market, the social inventories of primary aluminium in China have extended drop over the weekend by 6,000 tonnes, across eight major consumption areas, including SHFE warrants. The inventories are thus, hovering at 1.029 million tonnes, as of July 29. Arrivals of fewer cargoes at social inventories could be attributed to the further decline in stocks. From Thursday, July 25, the inventories in Wuxi, Jiangsu, and Shanghai have recorded a drop by 7,000 tonnes and 1,000 tonnes to stand at 307,000 tonnes and 199,000 tonnes, respectively. The inventories in Hangzhou, Zhejiang have registered a decline too, by 3,000 tonnes to 62,000 tonnes, learned Shanghai Metals Market. The chart below indicates the current status of primary aluminium inventories across China in...
Alcoa’s Pinjarra alumina refinery joins non-profit organisation Squared Away for voluntary service
Employee volunteers from Alcoa’s Pinjarra alumina refinery have reportedly joined local non-profit organisation Squared Away to assist them in cleaning up the surrounding area. This is the first community service this year through the company’s Alcoans Coming Together in Our Neighbourhoods (ACTION) Program. A pinjarra-based not-for-profit organisation Squared Away runs an engagement programme to improve the mental health and social and community engagement of men within the community. Michael Parker, Alcoa’s chairman and managing director in Australia said that this initiative by employee volunteers, together with Squared Away, proved we could make a big difference. "Alcoa is proud to be an engaged and supportive partner in our neighbouring communities and we encourage and support our...
