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.
Canyon starts drilling to examine recently-identified high-grade bauxite plateau at Minim Martap
Above a month after identifying a cluster of high-grade, low-containment bauxite within the existing resource at Minim Martap Project in November, Canyon Resources Limited has now reportedly started initial aircore drilling and exploration campaign at the site. Canyon’s own aircore drill rig and a team of experienced personnel are at the used for conducting the first phase of drilling in the northwest quadrant of the Minim Martap licence area. The program will target the previously drilled Beatrice, Agnes, and Raymonde plateaux as well as adjacent plateaux within the prospective northeast-southwest-oriented high-grade bauxite plateau corridor. Per the report, Canyon’s chairman David Netherway, managing director Phillip Gallagher, and advisor Tolga Kumova recently visited the site to...
Vedanta to restrain its alumina imports to 500,000 tonnes by FY21
According to a report, Vedanta Limited is aiming to curb its alumina imports to 500,000 tonnes a year by the financial year 2021. Per the record, the company imports more than two million tonnes of alumina to power its smelters at Jharsuguda and Korba because of having no sufficient captive bauxite resources of its own. Vedanta also banks on imported bauxite to feed its alumina refining unit at Lanjigarh. However, the company confirmed that it would ramp up its Lanjigarh capacity to six million tonnes per annum; to start with, four mtpa in the first phase. The refinery scale up is expected to reduce Vedanta’s dependence on imported alumina and therefore, the cut at aluminium production cost as a result. To cater to the refinery’s enhanced bauxite requirement, Vedanta has tied up sourcing...
Chinese A00 aluminium ingot price records a plunge after jump on the previous day; input costs show restraint
After a rise by RMB 100 per tonne from RMB 13,540 per tonne to RMB 13,640 per tonne, the A00 aluminium ingot price recorded a plunge today, on December 19, by RMB 50 to stand at RMB 13,590 per tonne, Shanghai Metals Market found. The average prices are expected to range between RMB 13,570 per tonne and RMB 13,610 per tonne, with spot discounts to settle at RMB 80 per tonne to RMB 40 per tonne. In the east Wuxi, the ingot price dropped by RMB 60 per tonne to RMB 13,570 per tonne while in Hangzhou, the price declined by RMB 60 per tonne to RMB 13, 600 per tonne. At both the south and north markets, the ingot price plunged by RMB 40 per tonne to hover at RMB 13,760 per tonne and RMB 13,560 per tonne, respectively. As far as the input costs are concerned, the alumina spot price showed no...
Romanian aluminium maker Alro to get US$70 million as working capital
Alro Slatina, Russian investors-controlled aluminium and aluminium alloy producer in south-eastern Europe, approved a US$70 million supplement to a credit facility contracted in 2015 through a US$ 167 million syndicated loan. Separately, Vimetco hired Swiss Capital for selling part of its 84 per cent stake in Alro, according to unofficial sources. The bank syndicate that finances Alro includes Raiffeisen Bank International, OTP Bank Romania, Banca Transilvania, Unicredit Bank, Garanti Bank, Intesa Sanpaolo Bank Romania, and Eximbank. Out of the total US$70 million, US$20 million would cover the company’s general and working capital needs and the rest US$50 million would finance programme-related investment expenditure for years 2018-19, as per the plan. In the first nine months of the...
India’s aluminium foil imports to see a rise in 2018, both in terms of volume and cost
The flexibility of the aluminium to form any shape has made it the most versatile packaging material in the world. A key benefit of using aluminium in the packaging industry is that the aluminium packaging materials can be 100% recycled and reused an infinite number of times. More than 60% of the aluminium used in the packaging industry is processed to foil or thin strips. {newsStudioGallery} According to a report, the aluminium foil packaging market across the globe was valued at USD 18.912 billion in 2017 and is expected to reach a value of USD 23.166 billion by 2023, registering a CAGR of about 3.27% during 2018-2023 (the forecast period). India, one of the fastest growing economies in the world, is also seeing a rapid rise in the use of aluminium foil, owing to strong economic growth...
Austal wins contract to build two more littoral combat ships worth US$1.6 billion for US Navy
According to a report, Austal further receives an order worth up to US$1.6 billion to build two more littoral combat ships for the US Navy. The two ships will be the 18th and 19th aluminium trimaran-variant LCS Austal and will build under a program that began a decade ago. “This latest order from the US Navy is a tremendous endorsement of Austal’s LCS platform and further evidence of the important role Austal plays in the US Navy,” Austal managing director David Singleton said. He further added, “We have been very successful, winning two littoral combat ships per annum ... in each of the last three US Government financial years.” The US Department of Defence said late on Friday that Austal USA had been awarded two of three LCSs approved under its fiscal 2019 budget. The estimated budget...
China’s Qiantu Motors to build sports car in US featuring aluminium frame and wheels
China’s Qiantu Motors has reportedly joined hands with California’s Mullen Technologies to begin building in the K50 sports car in the United States. In a press release first spotted by Automotive News, the two firms revealed their intentions to homologate the K50 to meet the US standards and then begin selling the car in North America. The expected year of the car launch is 2020 and if everything goes as per the plan, the K50 will be one of the few electric coupes on the market. However, a little is known about the US-spec model except the fact that it will have an aluminium frame and an electric powertrain that produces 402 hp (300 kW / 407 PS), as told by Mullen. The car with the Chinese-spec model will have a 78 kWh battery pack which powers two electric motors that apparently have a...
Hazlemere Commercial receives third successive fenestration refurbishment contract
Hazlemere Commercial has reportedly received a 3rd successive fenestration refurbishment contract, sponsored by the CFBT Schools Trust, to survey, manufacture, and install £168,000 + VAT of replacement double glazed commercial aluminium windows and doors to St. Marks Church of England Academy in Mitcham, in the London Borough of Merton. Earlier in 2018, Hazlemere Commercial had received a £181,000 + VAT refurbishment contract at Queensbury Academy in Dunstable, Bedfordshire, which was also sponsored by the CFBT Schools Trust. The window and door replacement contract at Queensbury Academy involves Hazlemere Commercial manufacturing and installing white powder coated aluminium window and door products including the Sapa DF75 Si casement window system and Sapa ST commercial entrance doors....
Belgium aluminium bar rods and profiles import cost to decrease in 2018 despite YoY growth in volume
According to a report, global demand for aluminium profiles, bars and rods is forecast to expand 5.7 per cent per annum between 2016 and 2020. Currently, aluminium alloy profiles, bars and rods account for 96.0 per cent of the global demand while not alloyed aluminium profiles, bars and rods have a 4.0 per cent market share. {newsStudioGallery} China, Philippines, Ukraine, the United Kingdom and the United States are considered the highest potential markets in the coming years. China, France, Germany, Italy and the United States represent the largest aluminium profile, bar and rod markets while the strongest annual growth is forecast to occur in the United Kingdom (19.6%), Philippines (15.5%), Ukraine (13.7%), Vietnam (9.0%) and China (7.6%). According to the global export-import data,...
India to defer its retaliatory tariffs on US products for the fourth time
India once again is likely to postpone retaliatory tariffs on 29 imported products from the US worth US$235 million to January 31, 2019. This would be the fourth time that India is deferring the duty. A senior government official told Moneycontrol “The implementation of higher import duty is likely to be postponed again by another 45 days.” On June 21, India had first announced its decision to hike import duty on 29 products from the US with effect from August 4, as a retaliatory measure against the Trump administration’s decision to levy additional tariffs on certain aluminium and steel products imported from India. The Indian government later postponed the implementation of the tariff to September 18, in a bid for the two nations to find a mutual solution, and then again to November 2...
Ball Corporation to sell its China manufacturing facilities to a metal packaging company
In the background of excess beverage cans supply in China. American soda can maker Ball Corporation is reportedly planning to sell its manufacturing facilities in China at about US$225 million. The news came when the company announced about its plans. The company plans to sell the can-making facilities to Chinese metal packaging company ORG Technology Co Ltd. Ball Corporation makes aluminium cans for Coca-Cola Co, Anheuser Busch Inbev NV, and Molson Coors Brewing Co. Company spokeswoman Renee Robinson told Reuters, "Excess industry capacity in China has led to unsustainable business conditions and inadequate returns on capital deployed relative to Ball's expectations." He added, “The sale was unrelated to tariffs on aluminium or trade tensions between the United States and China.” On...
Alcoa secures three new gas supply contracts for Western Australia alumina refineries
Alcoa of Australia has reportedly acquired three new gas supply agreements. All three agreements, together, will supply close to 25 per cent of the company’s requirements in Western Australia from 2020. The agreements with BHP, Woodside, and Chevron, coupled with other gas supply contracts, including with Quadrant Energy and Santos, announced in 2015, complete Alcoa’s gas portfolio to fuel its Kwinana, Pinjarra, and Wagerup alumina refineries for the mid-term, the company said. President of Alcoa Alumina and Managing Director of Alcoa, Australia, Michael Parker, said: “In securing these new gas contracts we are demonstrating to our employees, suppliers, customers and the communities where we operate our commitment to the state.” He further said: “Alcoa’s three WA refineries are the...
Spot aluminium discounts to widen at the end of the month in anticipation of supply growth: SMM
Shanghai Metals Market expects spot aluminium discounts across Chinese markets to widen at the end of December as new capacity, pledged cargoes, and stockpiles across producers are likely to grow supplies to the markets. According to SMM assessments, the A00 aluminium prices have been flat with the SHFE December contract for four consecutive trading days as of Wednesday, December 12. Limited supplies across the markets accounted for the recent strength in spot prices. Recently, several big traders made large purchases at higher price, which in turn, depleted supplies across the spot markets and pushed up prices. In the meantime, social warehouses saw fewer arrivals. SMM data showed that primary aluminium inventories across major consumption areas in China recorded a decline by some...
Chinese aluminium alloy price shows restraint on increased billet inventories and ingot price hike
According to the Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China grew some 2,600 tonnes over the weekend ended on Thursday, December 13 to stand at 120,500 tonnes. The reason behind this increase in billet inventories could be fewer purchases of building materials and lowered deliveries of stocks by 3,100 tonnes last week, found SMM. The demand from construction sites slowed as Chinese New Year neared. The current status of aluminium billet inventories across major Chinese markets is as follows: But despite the surge in billet inventories, the aluminium alloys (ADC12) showed no change in price and neither the aluminium alloy (A356) and aluminium alloy (A380). Aluminium alloys (ADC12) price was still found at RMB 15,100 per tonne while...
HUECK ME Aluminium Systems announces new office set-up in Dubai
Headquartered in Dubai, HUECK Middle East (ME) Aluminium Systems, announced that it set-up a new office in Dubai, to offer improved customer experience, enhance profitability prospects, and strengthen its brand in the UAE and the rest of the Middle East region. HUECK ME made the announcement at its gala dinner organised for regional partners, at The Westin Dubai Mina Seyahi Beach Resort, Dubai. The new office is equipped to deliver high-quality technical, engineering, and supply chain solutions for various projects in the region. HUECK ME is also committing in new resources and training centres; fresh inventory of aluminium systems, hardware, and required accessories; and best-in-class technical and after-sales support to achieve seamless customer interface. Modar Al Mekdad, the Managing...
Primary aluminium price dip boosts downstream purchasing interest in east-China: SMM
Shanghai Metals Market research found that lowered aluminium prices on Wednesday morning, Dec-12-18, boosted the purchasing enthusiasm among spot aluminium downstream consumers across east-China markets compared to the previous day. The SHFE December contract inched down during morning trades. Spot premiums in Shanghai remained unchanged at up to RMB 10 per tonne while transactions in Shanghai and Wuxi done at RMB 13,530 per tonne to RMB 13,540 per tonne and at RMB 13,570 per tonne to RMB 13,580 per tonne in Hangzhou. Trade prices lost some RMB 60 per tonne from the prior day. Across the eastern markets, sellers were keen to offload cargoes to lower stocks, and trades between traders remained brisk. Most spot transactions in Guangdong were heard at RMB 13,650 per tonne to RMB 13,680 per...
LB Aluminium records 69.4% surge in net profit for the second quarter
LB Aluminium Berhad, one of the largest aluminium suppliers based in Malaysia, has recorded a surge in its net profit for the second quarter ended on October 31. The profit reportedly grew by 69.4 per cent to RM2.83 million against RM1.67 million in the previous corresponding quarter, mainly attributable to higher sales volume. Revenue for the quarter increased 12.9 per cent to RM143.29 million, from RM126.94 million in the same period last year. Revenue from exports also increased by 20.2 per cent to RM46.77 million, primarily due to higher revenue from Canada, Australia, and the United States; reported the company itself in Bursa Malaysia filing. For the six-month period, LB Aluminium’s net profit up 4.4 per cent to RM5.5 million, from RM5.27 million a year earlier and revenue grew 11...
More working days bolster November operating rates at Chinese secondary aluminium producers
Shanghai Metals Market research found operating rates across Chinese secondary aluminium producers averaged 57.14 per cent in November, up 0.33 percentage point from October but down 4.28 percentage points from the corresponding period last year. As per the report from SMM, more working days in November grew secondary aluminium production and raised operating rates marginally on the month. Stocks of finished goods across most of the secondary aluminium producers remained normal while at some jumped due to poor orders. In November, most large producers with export businesses increased their export orders given greater profits, faster cash recovery, and stable raw material supplies. Certain plants in Zhejiang and Guangdong planned to begin export businesses that used foreign raw materials,...
