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.
Spot aluminium market in east China sees active trading on price drop; billet inventories record a rise again
Spot aluminium trading in east China spurred a bit on Thursday, August 16, than the previous day as drops in SHFE aluminium prices generated some purchases from downstream consumers, found Shanghai Metals Market. The SHFE September contract traded range-bound at RMB 14380 per tonne to RMB 14390 per tonne in the morning after it fell overnight. In Shanghai and Wuxi, most transactions were seen at RMB 14330 per tonne RMB 14350 per tonne, while in Hangzhou, trading activities were heard at RMB 14340 per tonne to RMB 14350 per tonne. Transactions in Linyi and Gongyi, on the other hand, were heard at RMB 14300 per tonne with discounts of RMB 50-30 per tonne and at RMB 14370 per tonne with discounts of RMB 70 per tonne, respectively. SMM believes the recent movement of the US dollar could be a...
Turkey to file complaint against the US tariff policy at WTO – Minister says
On Thursday, August 16, Turkish Trade Minister declared that Turkey would challenge the recent Washington’s decision of imposing higher metal tariffs on imports at the World Trade Organisation (WTO). Turkey would not be the first country to file a WTO complaint against the US trade practices. Others, like Canada, China, the European Union, and Russia had challenged the import tariffs at the WTO earlier. As reported by the Anadolu news agency, "Turkey has invited the United States to come in front of a panel of arbitrators at the World Trade Organization. The United States has already received this invitation. Therefore, we have launched a dispute settlement process within the framework of the WTO." Turkey has been in conflict with the United States since March when the Trump...
France to import higher volume of aluminium cans this year at a lower cost
According to the report revealed by Grand View Research, the global demand for beverage cans is likely to grow between 3.7 per cent and 4 per cent in 2018, with a similar growth trend over the next five years. In the European Union, the beverage cans market is also expected to grow at a CAGR of over 4% between 2017 and 2025, owing to increased recycling activities undertaken by the European Commission, as well as the national governments of France, Germany and the U.K. Having said that, the aluminium cans import volume in France is estimated to grow 1.5 per cent this year from 34,343 tonnes in 2017 to 34,860 tonnes in 2018, but likely to remain down by 19 per cent from 43,221 tonnes in 2016. Germany is expected to lead as an aluminium can exporter to France this year as well, with a 9 per...
Turkey issues a chilling warning to double imported tariffs on certain US goods
Turkey seems not to spare the Trump administration by any means for imposing higher tariffs on its aluminium and steel exports and declaring unfair sanctions against Ankara. On Wednesday, August 14, the country thus, reportedly issued a chilling warning to levy higher tariffs on certain American goods as a tit-for-tat action. As soon as the United States had sanctioned Ankara early this month, Turkish Foreign Minister Mevut Cavusoglu came up with his response saying that the country would not be left without retaliation as it constitutes a hostile stance. On August 14, Turkish Vice President Fuat Oktay said that the rises were ordered "within the framework of reciprocity in retaliation for the conscious attacks on our economy by the US administration." This retaliatory act is because of...
A00 aluminium ingot price drops in China despite a W-o-W fall in primary inventory
According to the latest update by Shanghai Metals Market, primary aluminium inventories across major consumption areas in China has recorded a further fall this week with limited arrivals. Stocks across eight consumption areas, including SHFE warrants, shrank around 14000 tonnes from last Thursday, August 9, and 5000 tonnes from last Monday, August 13, to stand at 1.761 million tonnes as of August 16. The current inventory status in the major Chinese cities stands as follows: But despite the limited supplies of primary aluminium stocks in the market, the A00 aluminium ingot price failed to record a surge. As of August 16, the price has clocked a drop of RMB 160 per tonne to stand at RMB 14330 per tonne, in contrast to RMB 14490 per tonne on August 15. The average prices are expected to...
Sri Lankan company Alumex Plc eyeing to export aluminium extrusion
Alumex Plc, a fully integrated manufacturer of aluminium profiles in Sri Lanka, is reportedly eyeing exports and planning to compete strongly in a domestic market with import tax protection so that the customers become free from paying higher prices for finished goods. With the opening of a two billion rupee extrusion plant with the most modern technology and an output of 1,200 tonnes a month, Alumex is striving to reduce prices and meet global competition. Setting the price of UAE aluminium as a benchmark, Managing Director Pramuk Dediwela of Alumex said, “We’re trying to match the prices of the United Arab Emirates.” He further said, “If we can match those prices, we don’t have to worry about imports coming from any part of the world." The addition of Alumex’s new plant has expanded the...
A00 aluminium ingot price drops in China but no change seen at input costs
Amid increasing raw material prices and dipped primary aluminium social inventory in China, A00 aluminium ingot price has been on a rising trend since the beginning of August, except a few intermittent drops. According to the latest update from Shanghai Metals Market, the ingot price has again plunged today, on August 15, after about a week later to stand at RMB 14490 per tonne, in contrast to a hike on the previous day from RMB 14500 per tonne, as on 13 th of August, to RMB 14530 per tonne. The average prices as on today are expected to range between RMB 14470 per tonne and RMB 14510 per tonne, with spot discounts to settle narrow at RMB 20 per tonne. The primary aluminium price on Shanghai Metals Exchange could not escape from the plunge either. Today, it stands at US$ 2097 per tonne...
Nalco to increase material procurement from MSMEs
State-owned aluminium major National Aluminium Company (Nalco) has intimidated that it is making all efforts to procure more materials from mid-sized, small or micro enterprises. Reportedly, the procurement will expand from the current level of INR 400 crore to INR 1200 crore in the coming time. Nalco chairman Dr. Tapan Kumar Chand said this is the right time for MSMEs to grow and shine bright. He further said India had been emerging as the youngest nation with 64 per cent of population in working group. If this demographic dividend could be properly cultivated, it would increase GDP by 2 per cent, taking it to double digits. This could be possible only if the huge workforce was provided productive employment. Speaking about the upcoming Angul Aluminium Park, Chand responded that there...
Belgium’s aluminium scrap import to see a further growth in 2018 but clocked downfall in Q1
The international export-import data shows that the total volume of aluminium scrap imported to Belgium has been rising over the past few years. In 2016, Belgium had imported about 2, 75, 996 tonnes of aluminium scrap in total, while in 2017, the import volume increased 6.4 per cent to 2, 95, 076 tonnes. This year is estimated to be no exception as well. In 2018, the scrap import volume to Belgium is likely to rise even further to 2, 99, 165 tonnes, 1.38 per cent higher from 2017 and 8.39 per cent higher from 2016. The import value is also expected to increase in 2018 to stand at US$ 264 million from that of US$ 246 million in 2017. In 2016, the import value was higher than 2017 at US$ 251 million despite the lower import volume, but down from the expected import value in 2018. However,...
Ghana to construct 10,000 housing units for security personnel under Sinohydro deal
Ghana Vice President Dr. Mahamudu Bawumia declared that around 10,000 housing units would be constructed in Ghana for security personnel across the country under the infrastructure of US$2 billion worth of barter trade bauxite deal signed with Chinese Sinohydro Group. This initiative for the security services under the Sinohydro project would be the largest single undertaking of its kind since the independence. Bawumia said this at a sod-cutting ceremony for the construction of 320 housing units at the Ghana Police Training School, Tesano, Accra, on 13th of August, 2018. “I would like to assure the Security Services that this project will not be the last. Government has reached advanced stages with Sinohydro Corporation Limited for the construction of houses and court structures for the...
Aluminium fluoride price displays steady trend this month on limited supplies in the market
Followed by controlled production at aluminium fluoride manufacturers in mid-June, the fluoride prices in China have been reportedly clocking a steady trend since the beginning of the month, Shanghai Metals Market found. Major fluorochemical enterprises were heard to have convened in mid-June in Hengshan, Hunan province and agreed to operate in a staggered pattern to support aluminium fluoride prices at RMB 9000 per tonne ex-work level. These producers suspended production in every alternate month and kept only half of the overall capacities in operation. Aluminium fluoride prices began to rebound soon after these production curbs came into effect. Some offers were even seen at over RMB 10000 per tonne due to limited supply in the market, in contrast to RMB 8500 per tonne in early June....
German economy minister sharply criticises Trump’s tariffs and sanctions policies
German economy minister Peter Altmaier deeply condemned Trump’s decision to levy metal import tariffs, saying such measures destroyed jobs and the overall economic growth. He also criticised the Trump administration’s decision to declare sanctions against Iran and said Europe by no means should bow to the US pressure regarding Iran. Besides import tariffs for bitter tit-for-tat trade dispute, the United States’ sanctions on Tehran would also target the European companies doing business with Iran and thus, would open another battle front. “This trade war is slowing down and destroying economic growth – and it creates new uncertainties,” Altmaier told Bild am Sonntag newspaper, adding that consumers suffered the most because higher tariffs were driving up prices. Altmaier lauded the...
Aluminium extrusion producers operating rate in China drops in July on lowered demand from solar sector
Operating rate across 50 Chinese aluminium extrusion manufacturers reportedly fell in July as temperature continued soaring and labour shortage and orders fall from the solar sector remained a matter of concern. According to the recent update from Shanghai Metals Market, the manufacturers in July operated at 59.5 per cent, 2.98 percentage points lower from June. The operation rate of construction extrusion fell 3.34 percentage points to stand at 60.4 per cent, while that of industrial extrusion hovered at 50.8 per cent. Operating rate across large-scale manufacturers came in at 65.3 per cent, while that of the mid-sized and small-sized ones were at 55.5 per cent and 26.8 per cent, respectively. The decline in operating rate across all the Chinese manufacturers irrespective of their...
Sales and production of new-energy vehicles in China grew in July both M-o-M and Y-o-Y
According to the latest update by Shanghai Metals Market, China’s market of new energy vehicles (NEVs) again saw a growth in July as both output and sales surged from a year ago. In July, production of NEVs stood at 90,000 units, after increasing 53.6 per cent year-on-year and 5.5 per cent from the earlier month, as shown by the data from the China Association of Automobile Manufacturers (CAAM). Sales also rose 47.7 per cent year-on-year to stand at 84,000 units in July but inched down 0.9 per cent from June. However, China’s overall vehicle production and sales saw a decline on both month-on-month and year-on-year in July. Around 2.04 million unites of vehicles were produced China in the month of July, down 10.8 per cent from a month ago and 0.66 per cent from the corresponding period of...
Hindalco wants the Indian government to restrict scrap imports
Hindalco, one of the largest aluminium producers in India, has urged the government to cap the quantity of imports of low-cost semis, wire rods, scrap from China, southeast Asia, and the United States, fearing the rising share of inbound shipments in the domestic market. “We have asked the government to impose quantitative restrictions on imports in the near term,” said Satish Pai, Hindalco’s managing direct and chief executive office. According to his opinion, the government should move to duty safeguards eventually but before that should put quantitative restrictions. He added that although the profit of aluminium producer clocked double in the Q1 ended on June 30 driven by manufacturing and government’s infrastructure push, the import quantity rose 20 per cent in the said period due to...
China’s bauxite import volume grows 8% Y-o-Y in June but 9.4% down from a month ago
China, with the biggest aluminium market, is constantly diversifying its bauxite import sources and at the same time witnessing a year-on-year growth in volume. According to the latest data by China Customs, the country saw an 8 per cent Y-o-Y growth in bauxite import in June to stand at 7.45 million tonnes, against 6.86 million tonnes in the same period of 2017, but 9.4 per cent down from 7.52 million tonnes in a month ago. The major share of import volume was from Guinea at 44.2 per cent as the country continued to be a major supplier of bauxite to China. The data shows that Guinea has been emerging as the mainstay for bauxite sourcing as far the China market is concerned. In 2017, Guinea had exported a total volume of 27.62 million tonnes of bauxite to China that recorded a rise by...
Nalco’s upcoming aluminium wire rod manufacturing facility to meet the rising demand from end users
On August 9, the state-run aluminium major National Aluminium Company (Nalco) laid a foundation stone to set up a new aluminium wire rod manufacturing facility at its existing plant at Angul. This 131-crore project will reportedly have an installed annual capacity of 40,000 tonnes per year (alloy grade) and 60,000 tonnes per year (EC grade). At the stone laying ceremony, CMD of Nalco Dr. Tapan Kumar Chand pointed out that the per capita aluminium consumption in India is likely to make a quantum jump in next 2 to 3 years. Backed on various initiatives by the Centre like smart cities, bullet trains, power to every household, energy efficient automobile, aluminium wagons and several others, the aluminium consumption in the country would further grow from the existing level of 3.2 million...
Primary aluminium trading in east China stands narrow against the surged price
Trading in the spot aluminium market in east China stood narrow on Thursday, August 9, compared to the previous day as surging prices jeopardised downstream consumers’ buying interest, Shanghai Metals Market learned. According to SMM, A00 aluminium ingot price clocked a significant hike right from RMB 14290 per tonne, as of August 8, to RMB 14660 per tonne on August 9, indicating surge by RMB 170 per tonne. The SHFE August contract climbed RMB 300 per tonne from overnight as of noon, driven by the industrial action at Alcoa’s Pinjara alumina refinery in Western Australia. Spot discounts in the east settled at RMB 40 per tonne, while transactions in Shanghai hovered at RMB 14630 per tonne to RMB 14660 per tonne and that in Wuxi and Hangzhou at RMB 14620 per tonne to RMB 14660 per tonne and...
