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.
Ireland’s alumina export revenue surges in Q2 2018 on US sanctions despite declining volume
Ireland is one of the leading export economies in the world houses Rusal-operated Aughinish alumina refinery. Located in a rural part of Ireland, Aughinish refinery is the sole producer of alumina in the country and one of the most efficient alumina facilities globally, with an annual production capacity of 1,915,000 tonnes. If we look at Ireland’s export trend, we can see that it was steady in the calendar year 2017 with a continued growth. According to the global export-import data, Ireland exported total 2203762 tonnes in 2017. France was the highest importer obtaining 678194 tonnes, followed by the Netherlands, Germany, and the Russian Federation that imported 394618 tonnes, 256821 tonnes, and 238655 tonnes, respectively. The total export revenue for Ireland had recorded at US$646...
India & US aim at resolving concerns over bilateral trade, US to hand over problem-list to India
A new of round of talks between the United States and India late last month has resulted in a decision that the Trump administration will hand over a “problem-list” to India assembling all the trade issues between the two countries. This will be done next week in the hope to iron out differences over the bilateral trade that caused continued tit-for-tat actions over the past few months. An Indian official reported to the Economic Times, “All issues were discussed. They were talking of general things, we wanted specific. They will send us a text of what they want, in the next week or ten days.” The meet was taken place in Delhi when senior officials from the US Trade Representatives had paid a visit to Indian officials. The key topics in the meeting were America’s higher tariffs on...
Aluminium inventory hike sidelines traders in east China resulting in price drop
With the growing primary aluminium social inventories in China, spot market traders in the east stood on the sidelines yesterday, July 19, in anticipation of larger spot discounts, Shanghai Metals Market found. The SHFE 1808 contract came off from its initial increase and traded range-bound within a narrow range in the morning. Transactions in Shanghai remained thin at RMB 13940 per tonne to RMB 13960 per tonne with discounts of RMB 70 per tonne to RMB 60 per tonne against the SHFE 1808 contract. Transactions in Wuxi were also heard at RMB 13940 per tonne to RMB 13960 per tonne, while that in Hangzhou were seen at RMB 13950 per tonne to RMB 13970 per tonne. Transactions in south China turned out no better as sellers held their offers firm. In Guangdong, transactions were done at RMB 14040...
EU prepares list of counter-measures against possible US automotive tariffs
The European Union has already started preparing a ground for its retaliatory move against the United State in case the 20 per cent tariff on EU-assembled cars is levied. On Tuesday, July 17, European Union Trade Commissioner Cecilia Malmstrom announced that a list of counter-measures to potential US-tariffs is almost ready. While delivering a speech at a conference in Brussels, she said the potential US tariffs on EU car exports would be extremely unfortunate. Hence, along with member states, the country is preparing a list of rebalancing measures as a counter move, she added. Nonetheless, Malmstrom expressed hope if her visit to Washington, accompanied by EU Commission President Jean Claude Juncker could help ease tensions. They will visit next week to discuss transatlantic trade with...
Bauxite mining operations in Weipa could extinct newly found venomous snake, study says
The latest Australian-led research disclosed on Monday, July 16, that bauxite mining could threaten a new species of venomous snake, named Vermicella Parscauda, recently found in Weipa with extinction. Weipa is a reputed mining town on the Gulf of Carpentaria coast of the Cape York Peninsula, where multinational giant Rio Tinto has bauxite mining operations. As per the estimation done in April 2018, about 53 per cent of Australia’s vast bauxite resources come from this mining belt. Moreover, this region’s bauxite is known for high-quality ore; determined not just by the aluminium content but by other minerals such as iron oxides and titanium oxides. It is also known for containing low amount of reactive silica that lowers the processing costs. By 2019, Weipa is expected to become more...
Aparna Enterprises plunge in new diversification to manufacture aluminium windows
Aparna Enterprises Limited (AEL), a reputed building materials manufacturing company, has declared to diversify its business into aluminium windows and structural frames by setting up a manufacturing unit near Hyderabad. The company said it would roll out the products soon. Part of the diversified Aparna Group, AEL is engaged in the manufacture of tiles, uPVC windows and frames and 17 Ready Mix Concrete units in the country. Now intending to double its turnover, the company has decided to plunge in this diversification and invest around INR 200 crore. P Ashwin Reddy, Managing Director of AEL said, “About ₹200 crore investment is likely in expansion which will include another extrusion facility for aluminium profiles, expansion of the ceramic tiles manufacturing facility at Peddapuram near...
Season lull in China results in aluminium billet inventory hike: alloys price remains unchanged
Backed on narrow consumption by downstream consumers, inventories of 6063 aluminium billet in China have extended their growth across five major consumption areas. Over the weekend ended on Thursday, July 19, they have increased by 2,300 tonnes to reach at 70,800 tonnes, as shown by Shanghai Metals Market. The inventory in Foshan and Guangdong is seen at the highest at 42,000 per tonne, while in Wuxi and Jiangsu, and Huzhou andZhejiang, the inventories are standing at 5,600 tonne and 7,600 tonne, respectively. The below chart indicates the status of China’s aluminium billet inventories in more details: The price of aluminium alloys (ADC 12), on the other hand, has been showing a steady trend over the month at RMB 15,500 per tonne and registered no change since 3 rd of July until now. But...
MRAI urges Indian government to eradicate 2.5 per cent duty on aluminium scrap import
Secondary aluminium industry body Metal Research Association of India (MRAI) urged the Indian government today, July 18, to completely eradicate the 2.5 per cent customs duty on aluminium scrap import. Earlier, MRAI also opposed the Aluminium Association of India’s proposal to levy 10 per cent duty on scrap import, as the association thinks that the duty may take a severe toll on jobs in the downstream and ancillary industry. MRAI President Sanjay Mehta said in a statement, "We are surprised to see that even after knowing this, a delegation of the (aluminium) association met Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek recently and requested to increase the duty to 10 percent." He further said a hike in duty would restrict the aluminium scrap export to...
Germany’s import of aluminium wires to see a growth in CY2018: Netherlands marches ahead
Germany’s import of aluminium wires is estimated to grow again in the calendar year 2018 after a plunge in the previous year. According to the global export-import data, the import volume this year is expected to stand at 107,798 tonnes, while that in 2017, it was hovering at 7,12,33 tonnes after dwindling from 101,952 tonnes in 2016. The above data represents that the calendar year 2018 is expected to see 33 per cent growth from the year 2017 and 5 per cent from 2016. Along with volume, the import cost in Germany is estimated to grow as well. From US$ 202 million in 2017, the cost is expected to increase to US$258 million for obtaining 33 per cent more wires in 2018. While the cost in 2016 stood at US$240 million. According to the analysis by global data, the Netherlands will be the top...
ABX signs contract with Aziz Group of Bangladesh for bauxite supply and business development
Australian Bauxite Limited (ABX) announced today, July 18, that it has successfully negotiated a Letter of Intent (LOI) over two important business opportunities with Aziz Group of Bangladesh. As agreed through the Letter of Intent, ABX will develop and supply chemical grade bauxite for the manufacture of PAC (Polyaluminium Chloride), which will be used in the treatment of industrial waste water in Bangladesh. Industrial waste water is a significant issue for Bangladesh industry and communities with large volumes of waste water needing to be treated and returned to the environment. Australian Bauxite CEO, Mr. Ian Levy said, "We are delighted to be involved in this significant opportunity that will have a positive impact on the communities of Bangladesh, utilizing our bauxite which is...
Primary aluminium price in China shows restraint after a hike on the previous day
After registering a slight hike on July 17, from RMB 13870 per tonne to RMB 13910 per tonne, A00 aluminium ingot spot price decided to show restraint today, July 18, according to Shanghai Metals Market. The average prices ranged between RMB 13890 per tonne and RMB 13930 per tonne, with no change in spot discount as well from RMB 80 to RMB 40 per tonne. On the face of lower primary aluminium inventory across the region, the primary aluminium spot price did not display any sweeping growth but had been maintaining a steady trend throughout the month. However, compared to the previous month, the primary aluminium spot price recorded a month-on-month decline until now. Nonetheless, the aluminium price is expected to rise with the increasing demand to about 70 million tonnes by 2020, which...
US challenges its major trading partners over retaliatory tariffs on American goods
On Monday, July 16, the United States reportedly brought cases to the World Trade Organisation against the European Union, China, Canada, Mexico, and Turkey, as they had been imposing heavy retaliatory duties on American exports. US Trade Representative Robert Lighthizer claimed that these retaliatory duties by the US trading partners violated the rules of the Geneva-based WTO that is responsible for mediating trade disputes. “Instead of working with us to address a common problem, some of our trading partners have elected to respond with retaliatory tariffs designed to punish American workers, farmers and companies,” he said. He also said that if WTO also recognises that these retaliatory duties are violating its rules, then it will assess the damage and calculate tariffs that the US...
Malaysia’s bauxite export registers a hike in H1 2018 compared to CY 2017
The prolonged period of moratorium on bauxite mining in Pahang, Malaysia, to finalise a regulatory framework to prevent a repetitive environmental damage, came to an end on June 30, 2018. The moratorium was put in place on January 2016 and was extended until June 30 to clear the then existing stockpiles. Natural Resources and Environment Minister Wan Junaidi Tuanku Jaafar had said that there were 5.4 million tonnes of bauxite stockpiles when the moratorium was first imposed. Based on surveys, there had been a further increase in the stockpiles because of which moratorium was extended several times. As of June 8, 2017, 5.8 million tonnes of bauxite was exported from Malaysia, said Wan Junaidi. As the world’s largest bauxite exporter, Malaysia exported 48,52,636 tonnes of bauxite to China...
East China registers hike in spot primary aluminium market despite narrow transactions last day
According to Shanghai Metals Market, spot primary aluminium market in east China witnessed a narrow trading activity on Monday, July 16, despite the tumble in prices. The reason could be the reluctance of downstream consumers in purchasing primary aluminium during a seasonal lull. The SHFE 1807 contract also fell on the morning of its last trading day. In Shanghai, the transactions were mostly heard at RMB 13850 per tonne to RMB 13870 per tonne, with spot discounts at RMB 10 to 0 per tonne against the 1807 SHFE contract. Transactions in Wuxi were also seen at RMB 13850 per tonne to RMB 13870 per tonne, while that in Hangzhou, the transactions hovered at RMB 13870 per tonne to RMB 13890 per tonne. Although sellers in east China were keen to offload cargoes on increased primary aluminium...
Arconic signs multiyear aluminium supply contract with Boeing
Arconic, the world’s sixth largest aluminium producer with corporate headquarters in Pittsburgh, Pennsylvania, announced yesterday, July 16, 2018, that it signed a long-term multiyear contract with Boeing. According to the contract signed, Arconic will supply aluminium sheet and plate for all models produced by Boeing Commercial Airplanes. It is the largest contract till date and captures growth in the build rate increased of the Boeing 737 program. Tim Myers, President of Arconic Global Rolled Products and Transportation and Construction Solutions said, “This agreement demonstrates Arconic’s commitment to deliver quality and innovation to our customers.” “We’re proud of our more than 40 years of collaboration with Boeing, and we look forward to playing a role in their continued success.”...
Declined operating rate across aluminium extrusion manufacturers in June to continue this month
On the face of a sharp decline in demand in the industrial extrusion sector owing to Beijing’s curb on solar power capacity growth and subsidy cuts, operating rate across 30 Chinese aluminium extrusion manufacturers shrank in June, according to Shanghai Metals Market. As per the data found by SMM research, the manufacturers operated at 62.44 per cent in June, with industrial extrusion sector down 13.45 percentage points to 50.25 per cent. Construction extrusion manufacturers, on the other hand, operated at 63.69 per cent, registering a small change in compare to May. The operating rate of large-scale manufacturers recorded at 68.69 per cent in June, while that of the medium-scale manufacturers and small-scale manufacturers came in at 58.16 per cent and 27.16 per cent, respectively. As...
China’s sweeping growth in alumina export in Q2 CY2018 expected to continue in Q3
According to the international export-import statistics, the estimated alumina export from China in 2018 is 177,996 tonnes, while the expected revenue to be at US$ 324 million. In the first quarter of 2018, the total alumina export from China was 59,548 tonnes and the revenue earned was US$63 million, while the contemporary period of previous year had recorded 119,126 tonnes of alumina export, yielding US$ 65 million of revenue. The chart above shows a comparison of China's export in Q1 and Q2 of 2017 and 2018. However, the figure increased in the second quarter of 2018, as China exported 50,887 tonnes of alumina and earned revenue of US$80 million, in contrast to 36, 190 tonnes of alumina export and US$46 million of revenue in the second quarter of 2017. The chart above shows a...
China’s primary inventory rise over the weekend results in A00 aluminium ingot price fall
After an incessant fall over the past ten consecutive weeks, China’s inventory of primary aluminium across eight major markets, including SHFE warrants, inched up 17000 tonnes over the weekend ended on July 16, 2018, to stand at 1.82 million tonnes, Shanghai Metal Market data showed. On last Monday, July 9, the primary aluminium inventory stood at 1.83 million tonnes, while on Thursday, July 12, the inventory dwindled to 1.8 million tonnes. This indicates that although the inventory marked a growth today from Thursday, July 12, yet remained lower from the previous Monday, July 9. On the other hand, despite a growth in inventory across the major Chinese markets, a few cities like Gongyi and Henan, Tianjin, Chongqing, and Linyi and Shandong displayed a plunge or restraint. The table below...
