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.
GNCCI agrees to support Ghana’s integrated bauxite and aluminium project
The Ghana National Chamber of Commerce and Industry (GNCCI) has agreed to lend its support to the Integrated Bauxite and Aluminium Project of the country, stating that this project represents an excellent step to market the country’s own bauxite reserves. Mark Badu-Aboagye, president of the GNNCI, explained that dual investment strategies are usually a typical model adopted by resource-rich states for mineral exploitation, which they “spend as you go” (SAYG) and delinked investment. “In the Chamber’s view, the government appears to be pursuing a conflation of the two models in order to bridge the estimated US$ 30 billion infrastructural gap in the country with the US$2 billion barter agreement with SinoHydro Group Limited of China for Ghana’s refined bauxite.” Although Mr. Mark Badu...
Nalco surpasses its highest recorded net profit at INR 687 crore against 34% revenues jump in Q1 2018-19
National Aluminium Company (Nalco), one of the largest integrated aluminium companies, wears a success hat for recording a fivefold jump in net profit in the first quarter of financial year ending on June 30, 2018. From INR 129 crore in the year-ago period, the state-run firm’s net profit has clocked at INR 687 crore in Q1 FY2018-19, reportedly surpassing the whole net profit of INR 642 crore in FY 2013-14. "As compared to the corresponding quarter of the last year, the growth in net profit has jumped by a whopping 433 per cent, from INR 129 crore to INR 687 crore," Nalco said in a statement. The revenues also jumped 34 per cent to INR 3035.42 crore in Q1 FY2018-19 against INR 1997.43 crore in the corresponding period of the previous year, attributed primarily to the surge in revenue...
Nalco comes forward for bauxite mining in Visakha agency
The National Aluminium Company Limited (Nalco), a government of India Enterprise and Navaratna Company, has come forward for bauxite mining in the agency area of Visakhapatnam district, along with a plan to set up an aluminium plant. Minister of state for mines Haribhai Parthibhai Chaudhary announced this news a day or two ago while replying to a question in the Rajya Sabha. This news already raises a deep concern as bauxite beehive is likely to be ruptured once again in the agency area. The tribals of Visakha agency are still up in arms against bauxite mining since the last one-and-half decade, when mining agreements were signed with the company of Ras Al Khaima. Later on, the agreements with the company were shelved by the government. With passing years, several attempts were taken to...
Lower aluminium billet inventories on limited supplies elevate the alloy price in spot market
After five consecutive weeks of increase, aluminium billet inventories have sighted a slight plunge in China on Thursday August 9, backed on limited arrivals from producers, Shanghai Metals Market found. From last Thursday, August 2, the inventories of 6063 aluminium billet have dropped 2,400 tonnes to hover at 82,800 tonnes, as of August 9, SMM data showed. To know more about the status of aluminium billet inventories across all the major Chinese markets, you may refer the chart below. On the face of tight availability of aluminium billet due to thin supplies to the inventories, the spot market price of the secondary aluminium could not restrain but registered a significant hike by RMB 100 per tonne. As of today, August 9, the price of aluminium alloys (ADC12) stands at RMB 15650 per...
US imposes a new 25% tariff on Chinese goods: Trade war between two countries sure to mount
On Tuesday, August 7, the Trump administration announced to go ahead with its plan to impose a 25 per cent tariff on US$16 billion worth of Chinese goods for escalating a trade war with Beijing further. As per the plan, the new tariff will come into effect on August 23, on 279 Chinese product lines including electronics, plastic, and railway freight cars. The number of products is lesser this time than the original 284 items proposed on June 15, said the US Trade Representative’s office. This tariff is the second round of duties that the US has imposed on Chinese goods in a dispute over technology. This was proposed during a breakdown of trade talks between the Trump administration and Beijing. An initial round of tariff was placed on US$34 billion of Chinese products on July 6. A week...
China’s alumina and aluminium productions record a hike in July: SMM updates
Shanghai Metals Market has recently unveiled a roundup of the total production of base metals including alumina and aluminium in China for the month of July, after surveying major producers in the market to obtain first-hand information for calculation. China’s total output of alumina in July recorded an increase by 2.4 per cent from the contemporary period of previous year to stand at 5.91 million tonnes, while the daily average output plunged by 4.1 per cent to 191,000 tonnes. This decline in daily average output could be primarily because of the production cut and refinery maintenance at some of the major producers in China including Chalco Shanxi, Sanmenxia Kaiman, and Shanxi Huaxing on tight bauxite supplies in the market. However, the country is hopeful about its production in...
A00 ingot price shows restraint against narrow aluminium trading activity in south China
According to the latest update by Shanghai Metals Market, south China on Tuesday, August 7, saw a narrow trading activity in the spot aluminium market, though slightly better than the previous day. But the SHFE August contract edged lower in the morning, Most transactions in Guangdong were heard at RMB 14440 per tonne to RMB 14450 per tonne, with the Guangdong-Shanghai price spread narrowed to RMB 150 per tonne. However, sellers across the region remained keen to offload their cargoes and some traders showed a little buying interest and made purchases as per the demand. A00 aluminium ingot price showed no significant move against the thin trading on August 7 except being plunged by RMB 10 per tonne from the previous day to stand at RMB 14290 per tonne. On August 8, the price remained the...
Czech Republic to see a growth in aluminium powder and flakes import this year despite decline in Q1
According to the recent data, the global aluminium powders, pastes, and flakes market is estimated to grow at a CAGR of 5.03% during the period 2018-2022. In fact, with the advancement in technology and growth in global economy, the aluminium powder industry has evolved extensively over the past few years. So to say, the increasing investments in infrastructure are significantly driving the demand of aluminium powder and flakes. The demand and use of aluminium nanopowders is also forecast to rise on the growing adoption of nanotechnology. The key players in the industry, including Czech Republic is expected to cash on these opportunities that abound the market during this period. The import of aluminium powder and flakes by the country is thus, estimated to grow this year. In 2017, the...
India’s retaliatory tariffs on the US postponed to 18th of September
India’s retaliatory tariffs on 29 American products have been postponed to 18 th of September, which was originally scheduled on August 4, 2018. This decision came out in the ongoing discussion between the two countries to resolve trade disputes. “The said notification, with effect from the 4th day of August-...shall come into effect from the 18th day of September, 2018,” the government said in a notification. Last week, the department of commerce recommended to the department of revenue to amend the notification for further extension of the countermeasures by next 45 days. The countermeasures are levied on 29 American products worth of US$235 million, including apples, almonds, walnuts, iron and steel products, flat rolled products of stainless steel. Deferring this retaliatory move is...
China’s domestic production of alumina and aluminium to reduce 30% during winter heating season 2018-19
According to the report from China’s Environment Ministry in late March, the country had decided to strengthen its fight against persistent smog and pollution by further empowering and restructuring its environment ministry and drawing up a new three-year action plan which promises tougher targets on industrial polluters. As part of its new remit, the ministry already started environmental checks from June 11, 2018, expanding over more cities and regions including Beijing, Tianjin, and 26 cities in Hebei, Shanxi, Shandong, and Henan provinces including Shijiazhuang, Tangshan, Langfang, Baoding, and many others. Two hundred teams with a total of around 18,000 inspectors and support staff had been sent out, triple the size of the workforce during the past winter heating season. According to...
Mid-States Aluminium Corp to create 39 new jobs on expansion and installation of a new press line
Mid-States Aluminium Corp., one of the leading suppliers of aluminium extrusions, has reportedly started breaking grounds and taking necessary steps towards expansion and installation of a new press line at its extrusion and fabrication facility. This new facility involves around US$ 23 million of investment in the local area, which will be used in buying “state-of-the-art extrusion press line and automation equipment,” according to a press release from the company. This will allow the company to upgrade its facility while maintaining its competitive advantage in the market for aluminium extrusions and value-added competition. Located at 132 Trowbridge Drive, the facility currently provides services in aluminium extrusion, as well as machining, fabrication, anodizing, tooling and assembly...
Rusal records a growth in output but plunge in revenue in Q2 2018: Revenue in H1 2018 however surges
UC Rusal, one of the leading aluminium producers in the world, has unveiled its results for the second quarter and the first half of calendar year 2018 ended on June 30, 2018. According to the results revealed, Rusal’s aluminium production in Q2 2018 stood at 939 million tonnes while that in 2017 was at 921 million tonnes. The primary aluminium production in H1 2018 also increased 39,000 tonnes to stand at 1870 million tonnes, against 1831 in H1 2017. Production cost per tonne in Q2 2018 rose to US$ 1672 per tonne from US$ 1497 per tonne in Q2 2017 and that in H1 2018 grew to US$1679 per tonne from US$ 1456 per tonne in H1 2017. Despite the rise in production, Rusal’s sales of primary aluminium and alloys recorded lower in Q2 and H1 of 2018 at 783 million tonnes and 1748 million tonnes...
Indonesia to pay higher import cost this year for aluminium scrap but revenue from the export to dwindle
Indonesia has become one of the most significant downstream aluminium product manufacturing hubs in south-east Asia, mostly catering to the automotive industry and thus, has increased the procurement of aluminium scrap for the use in the downstream industry. Countries like Australia, the USA, and the United Kingdom are the major sources of Indonesia's aluminium scrap imports. Besides a surge in import volume, the country’s import cost is reportedly rising as well, since 2016. Indonesia’s aluminium scrap import cost for procuring 71,029 tonnes had stood at US$90 million in 2016, 6.25 per cent down from US$ 96 million in 2015. In contrast to this, the import cost rose to US$ 119 million in 2017, up 24 per cent from 2016 and 19 per cent from 2015. Along with the cost, 2017 had also witnessed...
Primary aluminium price hikes further amid lowered inventory on limited supplies
China’s inventory of primary aluminium had been consistently registering a drop due to limited supplies from smelters. Today, August 6, showed no exception either. The inventory, including SHFE warrants, dropped 5000 tonnes from Thursday, August 2, to stand at 1.776 million tonnes as of August 6, 2018, Shanghai Metals Market found. Fewer arrivals from smelters in Xinjiang accounted for the drop. However, the inventory recorded a slower decline as of today compared with Thursday, August 2, when the inventory witnessed a drop by 14,000 tonnes from July 26 to stand at 1.78 million tonnes. Some of the major Chinese cities recorded a drop in inventory from the previous day. In Wuxi and Jiangsu, the inventory dwindled from 760,000 tonnes to 752,000 tonnes, while in Shanghai and Gongyi and...
Guangxi in China reportedly planning to develop new aluminium production base
Guangxi which is already one of China’s top five aluminium centres, recording 3.88 million tonnes of aluminium production last year, is reportedly crafting a plan to expand its production capacity further. According to the information posted on the Guangxi government’s website, the southern region of Guangxi is likely to develop a high-end aluminium production base in the city of Nanning. This new production base is planned to be comprised of four industrial parks over an area of 533 hectares by 2022, involving around RMB 4.5 billion of investment in infrastructure, Guangxi government said. Target applications for the production include aviation, automotive, rail transit, green buildings, and aluminium alloy. By the end of 2020, Nanning’s aluminium processing and downstream industries are...
India to postpone retaliatory tariff worth of $235 million against the Trump administration
India is found compassionate towards the United States agreeing to defer its heavy duties on US$ 235 million worth of 29 American goods by 45 days from August 4, upon a request by the US, sources said. This countermeasure by India was a retaliatory act against the Trump administration’s decision to impose additional 25 per cent and 10 per cent tariffs on India’s aluminium and steel supplies to the US. However, deferring this retaliatory move is expected to substantially de-escalate a tariff war between India and the US. It indicates New Delhi would further engage Washington to find a more meaningful outcome to the ongoing bilateral trade negotiations. India is hopeful that this move would finally bring them a relief from those extra metal tariffs levied by the Trump administration. The...
Liaoning's plan to house alumina refinery worth of $3.4 billion got scrapped
After almost 88 years, Liaoning province in China was about to home an alumina refinery, but unfortunately, the project plan got cancelled by the city of Chaoyang after public consultation. The refinery was proposed to process bauxite ore into 10 million tonnes of alumina every year and supersede Norsk Hydro’s Alunorte project in Brazil as the world’s biggest alumina refinery. Liaoning was home to China’s first aluminium smelter, at Fushun; date back to 1930s, after which there was no existence of any alumina production until now, neither at Liaoning nor at its neighbouring provinces like Heilongjiang and Jilin, according to the data revealed by the National Bureau of Statistics. As per the information published on the website of the Chaoyang government on Wednesday, August 1, 2018, the...
Germany’s aluminium cans export volume to see a year-on-year decline in CY2018
Recyclability of metal is one of the key factors that has been constantly driving the consumption of the metal cans in the market, including aluminium cans because this particular non-ferrous metal is nontoxic by nature and can be easily processed, handled and distributed. In 2017, the metal cans market was valued at US$46.35 billion and is expected to reach a value of US$ 56.38 billion by 2023 at a CAGR of 3.32 per cent. Germany, being one of the largest aluminium exporting countries, supplies a lion share of aluminium cans all over the world. But unfortunately, it has been noticed that over the two years the country’s aluminium cans export volume is incessantly decreasing. In 2016, Germany had exported a total volume of 95,543 tonnes of aluminium cans, while in 2017, the volume stood at...
