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.
China’s aluminium inventory sees a slower decline this week: A00 ingot price is unchanged
China’s inventory of primary aluminium, including SHFE warrants, declined slower this week with a slight growth of warehouses supplies, according to Shanghai Metals Market. On Thursday, June 21, 2018, inventories of primary aluminium across eight major consumption areas in China shrank 40,000 tonnes to stand at 1.88 million tonnes, compared to a drop of 53,000 tonnes recorded on previous Thursday, June 14, to stand at 1.92 million tonnes. However, downstream aluminium trading decreased due to lower aluminium prices. In Wuxi and Jiangsu, the aluminium inventory hovered at 795,000 tonnes on 21 st of June, whereas on last Thursday, June 14, the inventory stood 801,000 tonnes. In Shanghai, the inventory rallied at 433, 000 tonnes, compared to 439,000 tonnes on last Thursday, Nanhai and...
US trade dispute may put Jamaica’s alumina exports into distress
Jamaican Minister of Foreign Affairs and Foreign Trade Kamina Johnson Smith believes that Jamaica’s alumina exports are likely to be affected by the ongoing trade dispute between the United States and other countries. On Tuesday, June 19, she briefed to a press at the foreign ministry in New Kingston that US’ move to restrict its aluminium and steel imports from other countries could disrupt Jamaica’s supply chain, besides affecting Jamaica’s trading partners. Johnson Smith further explained to the members of the media that none of the countries to which Jamaica exports its alumina are exempt from the metal tariffs. For example, Jamaica exports alumina to China, which the latter uses to make aluminium and then supply to the US. “I want to recall that while Jamaica does not produce or...
China to levy 40 per cent tariff on US vehicles from July 6
According to the State Council, China is going to raise the import duty to 40 per cent on certain cars imported from the United States, with effect from July 6, 2018. The commission of tariffs and customs made this announcement early this week as part of an additional 25 per cent tariff recently imposed on the US exports of US$ 34 billion. This tariff is particularly in response to Washington’s decision to slap new tariffs on Chinese goods worth of US$ 50 billion late last week. The commission said in a statement, "The US action violates the relevant rules of the World Trade Organization and runs contrary to the consensus reached in negotiations between the two parties. It damages the legitimate rights and interests of our country and people." China’s tariff plan is going to affect 659...
Aluminium fluoride prices to remain stable in near term: SMM updates
According to Shanghai Metals Market, aluminium fluoride prices in China are likely to remain stable in the near term as a large number of producers would jointly support prices. On June 14, 2018, many major fluorochemical enterprises in Hengshan and Hunan province gathered and agreed to collaborate to support prices. On the face of oversupplied market and thin profit margins, producers mutually agreed to stop aluminium fluoride prices from breaking the RMB 9000 per tonne level. On Friday, June 15, the traded prices of aluminium fluoride declined as most of the transactions were done at RMB 8500 per tonne to RMB 9000 per tonne. A few transactions were even seen at RMB 8000 per tonne. In the longer term, the aluminium fluoride prices will likely continue to fall in the China market as major...
Philippines manufacturers seek exemptions from higher aluminium and steel tariffs
Overseas firms in Philippines, affected by the US-China trade war, are now seeking reprieve from higher US tariffs on imported aluminium and steel, according to Trade and Industry Secretary Ramon M. Lopez. These firms include Sunpower Inc., which produces solar panels for exports and other aluminium and steel products. According to Lopez, Sunpower has already submitted a request for exemption. Being a major exporter of solar panels, the company fears that its exports are likely to be affected by the 30 per cent tariff on year one down to 15 per cent on year four. In imposing a higher tariff on this product, the US had invoked Section 201 of US Trade Act, which allows a country to enforce duties on products that could injure or threaten to injure the country’s domestic industries. In...
Constellations bags grand prize in Quebec aluminium design competition
Constellations and the Sans détour projects are the two winners of Quebec aluminium design competition “Architecture and community commitment: A tale of aluminium”, organised by the Centre d’expertise sur l’aluminium (CeAl) and Alcoa Innovation. The main motive of this competition is to promote the innovative use of aluminium in the building sector. While Groupe A/Annexe U for Constellations has bagged the grand prize of US$15,000 cash for developing a dynamic public space concept, San détour won the People’s Choice Award for designing a unique bridge concept. Constellations are covered spaces for hosting social, cultural, and sporting activities, erected in former parking lots or set up adjacent to public venues. The structure houses two units, each with two large sheets of anodised...
Alumina price in China dips for continued pressure; A00 ingot price drops on lowered aluminium inventory
Alumina prices continued to decline across China, facing pressure from higher operating capacity, potential surge in domestic supply, and falling prices of primary aluminium, according to Shanghai Metals Market. On Friday, June 15, 2018, the price of alumina averaged RMB 2812 per tonne, down RMB 92 per tonne from a week ago, according to SMM assessment. This marked a decline for four weeks in a row. In Shanxi and Henan province, the traded price dropped below RMB 2800 per tonne, SMM believed. However, according to Shanghai Metals Market, alumina operating capacity is likely to increase another 1 million tonne per year from July. Some 100,000 tonnes of bagged alumina at Guangxi ports also ramped up the likelihood of sale in the domestic market. The incessant drop of primary aluminium price...
Metro Mining to raise US$17.5 million through a share placement
Metro Mining Ltd. has received an approval for a trading halt as it sets a target to raise US$17.5 million through a share placement priced at 20 cents. Funding from the placement is likely to boost Metro’s working capital position during production ramp-up and product sale negotiations while increasing balance sheet strength and flexibility. Earlier this month, on having the first two shipments of bauxite successfully arrived in China, Metro Mining received the first payment from off-take partner Xinfa Group. Xinfa is one of China’s largest integrated aluminium companies, with significant refining and smelting operations across multiple provinces. With successful delivery of the shipments to Xinfa as planned, Metro experienced increasing buying interest for bauxite from its Bauxite Hills...
China’s retaliatory duties on US exports ignite US-China trade war tensions
China’s response to President Donald Trump’s tariffs with extra customs duties over the weekend pulled the US-China trade war tensions to the boiling point. Accusing China on Friday, June 15, 2018, with an allegation of stealing intellectual property from US technology companies, Trump decided to impose a 25 per cent tariff on US$50 billion of Chinese goods, including industrially-significant technologies. The US President said, “This includes goods related to China's Made in China 2025 strategic plan to dominate the emerging high-technology industries that will drive future economic growth for China, but hurt economic growth for the United States and many other countries." In response, China’s foreign ministry promised to impose retaliatory tariffs on US products with the same intensity,...
China to set up first aluminium factory in Ethiopia for US$13.8 million
Rifeng, the global leading piping system supplier in China is ready to build the first aluminium pipe factory in Ethiopia by spending US$13.8 million. The company’s aim is to expand its business by tapping into the existing market in South Africa. Till date, Ethopia, despite being a prime importer of aluminium pipes, has not involved in exportation activities. Its inability to build the industrial sector has robbed the economic stability and put pressure on the currency. Rifeng Ethiopia and Rifeng China are now together looking forward to changing the trajectory of the narrative through their upcoming industrial sector. Their goal is not only to serve the local market but to turn Ethiopia into a global exporter of aluminium pipes to earn foreign exchange and strengthen the currency. This...
US aluminium and steel tariffs hike boosts Elk Grove supply chain prices
Business leaders in the Elk Grove Village Business Park are keeping a watchful eye on Washington’s newly imposed tariffs on imported aluminium and steel as they have started impacting the metal processing plants in the business park and machining business that use aluminium and steel to create precision parts or sell architectural steel and aluminium products. In early March, President Donald Trump had announced a 25 per cent tariff on steel and 10 per cent on aluminium imported from all countries except Mexico and Canada. Later that month, Trump declared tariffs exemptions for a few countries including Argentina, Australia, South Korea, Brazil and the European Union, until June 1, 2018. Then at the beginning of June, Trump removed exemptions from Canada, Mexico and the European Union,...
India to impose duties on 30 US products in retaliation against aluminium and steel tariffs
According to an official, India will raise duties on 30 US products, including motorcycles with engine capacity over 800cc, fresh apples and almonds, in retaliation against Washington’s move to impose higher duties on Indian aluminium and steel exports. “This is the first time that India has levied retaliatory tariffs on any country,” said the official aware of the details. According to India’s decision regarding the tariffs, motorcycles with engine capacity over 800cc is going to attract 50 per cent of duty, almonds 20 per cent, walnut 20 per cent, and apples 25 per cent. These duties are expected to collect around US$238.09 million, once come into force on June 21, 2018. On Wednesday, June 13, India intimidated the World Trade Organisation (WTO) of its decision. “This notification is...
Zephyr Aluminium to move to East Hempfield Township next month
The commercial aluminium and glass contractor Zephyr Aluminium LLC is moving from Lancaster city to East Hempfield Township next month, after purchasing a former printing plant there for US$2.95 million, courthouse record shows. Acquired from Pemcor, the new property at 2100 State Road has 54,000 square, which is more than double the size of the company’s current headquarters. “Zephyr has been limping along with the space we have because that’s what we have,” said President Doug Cornell. According to him, now the company in a bigger space can become more productive. Cornell said the Second Street building is so small that Zephyr has to reposition machinery to make room for different steps in its production process, a time-consuming handicap. It also needs to store materials outside....
EU countries unanimously back retaliatory duties on US exports: Source says
Ever since the United States declared additional 25 per cent tariff on steel and 10 per cent on aluminium imported from its three important trading allies like the European Union, Canada and Mexico, the latter started planning retaliatory measures against the US. Yesterday, on June 14, 2018, all the European Union countries unanimously backed passing retaliatory measures on 2.8 billion euros (US$3.3) worth of US products, said the European Union sources. However, the European Commission is yet to adopt the measures. The next scheduled meeting is on June 20 and the measures are expected to be in place by late June and early July. On June 7, the European Union had declared to impose 25 per cent duties on US goods such as orange juice, bourbon, jeans, and motorcycles in response to the US’...
Altech Chemicals signs $60 million stream finance term sheet for its HPA project
Altech Chemicals announced yesterday, June 14, 2018, that it has signed a US$60 million stream finance term sheet with a US-based global alternative investment group for its proposed high purity alumina (HPA) project. Global HPA demand in 2016 was approximately 25,315 tonnes per annum and is likely to grow at a compound annual growth rate (CAGR) of 16.7 per cent, until 2024. A stream finance facility is a structured alternative financing product whereby the facility provider agrees to pay the facility amount in advance in exchange for a percentage of future gross sales. The facility term sheet that Altech has received assures an advance of US$60 million, which would be used for the development, construction and working capital requirements of the project. It is structured to operate in...
A00 aluminium ingot price in China drops again: Alumina spot price remains same
After a rise in A00 aluminium ingot price from RMB 14540 per tonne to RMB 14560 per tonne on June 14 on the face of primary aluminium inventory dip, it dwindled drastically on June 15, to RMB 14340 per tonne, Shanghai Metals Market believed. The prices are expected to range between RMB 14320 per tonne and RMB 14360 per tonne, with spot discounts still settled at RMB 20 per tonne. Since the beginning of the week, the aluminium ingot price has been incessantly witnessing ups and downs, as on June 11, the price plunged from RMB 14740 per tonne to RMB 14720 per tonne, followed by a growth to RMB 14750 per tonne on June 12. The next day on June 13, the price fell straight to RMB 14540 per tonne; while on June 14, it rose to RMB 14560 per tonne. All the major Chinese markets also saw a plunge...
East Cowes boat building firm to build an improved aluminium firefighting vessel
A boat building firm, based at East Cowes, has won a bid to build a new range of aluminium firefighting vessel. One of UK’s leading independent shipbuilders in East Cowes Aluminium Marine Consultants has partnered with firefighting equipment supplier Angloco and naval architect Walker Marine Design to design this new range of aluminium firefighting vessel. This new 14-metre multi-role firefighting vessel would be well-equipped to carry out tasks that otherwise involve the risk and hazards of modern-day marine firefighting. Rob Stewart LLB, commercial director of Aluminium Marine Consultants said, "Ships these days carry chemicals and flammable materials so we need to be able to combat that.” Adding to it, he also said these vessels would be designed in such a way so that it could help out...
Tiwai Aluminium Smelter to fill 90 job roles on recommencement of potline four
On recommencing potline four on the face of improved metal prices, Tiwai aluminium smelter, owned by Rio Tinto and the Sumitomo Group via a joint venture called New Zealand Aluminium Smelters Limited, is seeking to recruit 90 new staff. The company reports that it needs to fill 90 roles, as its production is likely to increase with the restart of potline four and the growing demand for aluminium block products. On the other hand, older employees are retiring and increasingly creating room for recruitments. Outgoing chief executive and general manager Gretta Stephens said, “While it was unusual to be recruiting for so many roles, most of the new jobs related to the restart of line four and the subsequent increased metal production in the casthouse.” Stephens also said, “The smelter has...
