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.
Average A00 aluminium ingot price rises after a short downfall previous day: SMM
The average A00 aluminium ingot price surged on Wednesday, June 6, 2018, to close at RMB 14640 per tonne after a fall on the previous day from RMB 14550 per tonne to RMB 14520 per tonne, according to Shanghai Metal Market (SMM). The prices are expected to range within RMB 14620 per tonne to RMB 14660 per tonne, with spot discounts remaining same at RMB 70 per tonne to RMB 30 per tonne. Tight supply in the Chinese market due to fewer deliveries to warehouses could be a reason for the price surge. Shanghai Metal Exchange (SME) also registered a price rise from US$ 2266 per tonne to US$ 2289 per tonne on June 6. Besides, the aluminium price across the globe had been on the upswing since long. While the east saw a significant price growth of aluminium ingot from RMB 14530 per tonne to RMB...
Aluminium rods processing fees in China drop due to higher competition
According to Shanghai Metal Market update on June 4, 2018, aluminium rods processing fees in Shandong province have witnessed a plunge since early May to below RMB 300 per tonne ex-works as of Friday, June 1. The primary reason for this price drop is the growing competition among aluminium rod processors in Jiangsu province, as SMM learned. Previously, on May 2, the aluminium rods processing fees in Shandong had surged to as high as RMB 800 per tonne ex-works, owing to the rising fees as decided by the processors to offset lower profits from aluminium ingots. Subsequently, aluminium rod processors started operating on higher profits in Jiangsu from May, followed which profits across local processors in Yixing city increased to over RMB 100 per tonne. Before May, aluminium rod processors...
Mexico to file complaint at the WTO over the US new aluminium and steel tariffs
Following the European Union, Mexico announced on Monday, June 4, 2018, that it would file a complaint with the World Trade Organisation (WTO) over the US additional tariffs on imported aluminium and steel. The economy ministry said in this regard, “it will initiate a dispute settlement process under the umbrella" of the WTO, and that its actions will continue to follow the state of international commercial law and will be proportional to the damage that Mexico regrettably received." The European Union and Mexico have already opened legal challenges to the United States at the WTO. Mexico, following their path, submitted a request for consultations with the US over the additional tariffs. It argued that the tariffs imposed on the grounds of national security were not relevant to the WTO...
Average A00 aluminium ingot price sees a drop: Alumina spot price remains same
According to Shanghai Metal Market, the average A00 aluminium ingot price plunged on June 5, 2018, from RMB 14550 per tonne to RMB 14520 per tonne. The prices are expected to range within RMB 14500 per tonne to RMB 14540 per tonne, with spot discounts remaining same at RMB 70 per tonne to RMB 30 per tonne, as that of the previous day. On Monday, June 4, 2018, the average A00 aluminium ingot price had surged to RMB 14alumi550 per tonne on the back of fewer deliveries to warehouses, after a fall on the prior day, June 1, 2018, from RMB 14610 per tonne to RMB 14490 per tonne. To say the truth, aluminium ingot price, according to SMM, has been oscillating since the beginning of May and likely to continue. Almost all the major Chinese markets witnessed dwindle in aluminium ingot prices today,...
Metro’s first two bauxite shipments successfully arrive in China
Metro Mining happily announced a successful arrival of its first two shipments 123kt bauxite in China and confirmed the receipt of payment from off-take partner Xinfa Group. Xinfa Group, which has a 4-year off-take agreement with Metro, was responsible for handling the delivery of the shipment from the Bauxite Hills mine in Queensland to Shandong in China. With the first successful shipment, Metro is reportedly experiencing an increasing buying interest for bauxite from its Bauxite Hills mine in Queensland. Metro’s managing director and CEO Simon Finnis said, “Receiving first sales revenue is another exciting milestone for Metro and heralds in a new era for us. I’m pleased with our ramp-up and the improvement in mining and loading rates from pit to ship as the commissioning issues are...
Nalco revives its bauxite mining proposal under Samata Judgement
Just in four days’ of time after Nalco Chairman and Managing Director Tapan Kumar Chand disclosed the company’s new alumina refinery set up plan, worth INR 7000 crore to INR 12000 crore, in Vishakhapatnam, the company updates that it has revived its proposal. According to the updated news by the Hindu, Nalco has revived the proposal for bauxite mining as well. Nalco had requested the Centre to consider allotment of bauxite mines at Pottangi, located on the Andhra-Odisha border so that it could secure the raw material for its new alumina refinery in Vishakhapatnam from its own mine. Many had an opinion that bauxite mining by Nalco, which is under the Ministry of Mines with a proven track record on employment and CSR activity in Odisha would not come in the way of Samata judgement given by...
Altech receives approval from Malaysian Government for its alumina plant in Johor
The Malaysian Government finally gives a nod to Altech Chemicals for initiating a high purity alumina plant in Johor, with production capacity 4,500 tonnes per annum. Johor is located at the southern tip of mainland Malaysia. This news arrived following the last week’s news of Altech which said the company secured a suitable 4 hectares site for the plant in Malaysia’s Tanjung Langsat Industrial complex in Johor. The company has already laid down $5.1 million to secure a 30-year lease at the site and kept an option open for renewing to another 30 years. Altech will firstly, secure high purity kaoline product from its massive deposit near Meckering and then transport it to Malaysia for processing into a low contaminant alumina stream for industrial uses. According to Altech, the demand for...
Average A00 aluminium ingot price surges on a lower primary aluminium inventory in China
After a fall on 1st of June, 2018, from RMB 14610 per tonne to RMB 14490 per tonne, the Shanghai Metal Market observed a surge in average A00 aluminium ingot price, reaching up to RMB 14550 per tonne on June 4, 2018. This indicates that the price today, on June 4, grew higher than June 1 but stood lower than 31 st of May, 2018. The prices are expected to range within RMB 14530 per tonne to RMB 14570 per tonne, with spot discounts to settle at RMB 70 to 30 per tonne. Almost all the major Chinese markets witnessed a surge in aluminium ingot price on June 4, 2018. The East market saw a price growth from RMB 14510 per tonne to RMB 14540 per tonne, South and North witnessed a price rise from RMB 14560 per tonne to RMB 14635 per tonne and from RMB 14520 per tonne to RMB 14550 per tonne...
EU seeks consultations with US at WTO in response to additional aluminium and steel tariffs
As soon as the Trump Government announced its final decision on Thursday, May 31, 2018, to impose additional 25 per cent tariffs on imported steel and 10 per cent on aluminium on the European Union, Mexico, and Canada, the EU decided to go ahead with its countermeasures. On Friday morning, June 1, 2018, the EU submitted a request for consultations with the United States on aluminium and steel tariffs, under the dispute settlement framework of the World Trade Organisation (WTO). The request for consultations formally initiated a trade dispute in the WTO. After 60 days, if consultations fail to resolve the dispute, the EU will request adjudication by a panel. The European Union Trade Commissioner, Cecilia Malmstrom said, “We are not in a trade war, but we are in a very difficult situation...
Ghana aims at developing aluminium and bauxite industry: said Bawumia
Speaking at the African Sovereignty Wealth Funds Summit on Friday, June 1, 2018, Ghana Vice-President Dr. Mahamudu Bawumia emphasised that African leaders and businesses should increasingly make the best use of natural resources deposited in the land to create wealth. He said, “Africa has hundreds of billions of dollars locked up in the land, which we have not been able to release because we don’t have a working mortgage market and that is a major asset for Africa that needs to be unleashed.” According to his belief, Africa is blessed with enormous natural resources which can be leveraged to build financial wellbeing in the continent. The old way of giving out mining concessions and taking royalties, in his opinion, would not be the best way to generate wealth from the minerals deposited...
Hydro with Tom Dixon showcases aluminium in interior and furniture design
Norsk Hydro, one of the largest aluminium companies worldwide, has teamed up with Tom Dixon to showcase aluminium in interior and furniture design. Tom Dixon is a self-taught British designer, who is currently the Creative Director of his own brand Tom Dixon, specialised in lighting, furniture, and accessories. Tom Dixon’s new headquarters located in London houses a manufacturing workshop known as Factory, where it showcases aluminium furniture and interior decorations designed by Tom Dixon and delivered by Hydro. Hydro’s aluminium experts will host workshops at the Factory in collaboration with Tom Dixon, looking into aluminium as a material and designing and producing more sustainable products. The purpose of this workshop is to motivate people to take part in construction, fabrication,...
Canada to counterattack US for imposing additional tariffs on imported aluminium and steel
Canada, as one of the most important allies of the United States, expressed its dismay yesterday, on May 31, on knowing that it had not been removed by the US from the list of countries for additional 25 per cent tariffs on steel and 10 per cent on aluminium. Canadian Foreign Minister Chrystia Freeland declared that the country would counterattack the US with stiff tariffs on C$16.6 million worth of US exports and challenge its aluminium and steel tariffs under the North America Free Trade Agreement’s (NAFTA) Chapter 2 and the World Trade Organization (WTO). Mexico and the European Union would also follow Canada and impose heavy retaliatory duties on imported American products, as they could not secure a reprieve from the additional tariffs. The Canadian tariffs are set to go into effect...
Average pre-baked anode price drops on Weiqiao Group’s further price negotiation
According to an update by Shanghai Metal Market on May 31, 2018, Weiqiao Group in China again reduced its purchasing price for pre-baked anode by RMB 190 per tonne for the month of June. This marked a decline for six consecutive months. Earlier, in May, the price was lowered by RMB 300 per tonne to RMB 3390 per tonne in cash and RMB 3425 per tonne on acceptance. But since many producers did not accept the reduction, arguing that pre-baked anode industry was in a loss, it called for further negotiations. The adjustment brought the prices to stand at RMB 3200 per tonne in cash and RMB 3235 per tonne on acceptance. As a result, according to SMM, the average spot price of pre-baked anode dwindled from RMB 3425 per tonne to RMB 3235 per tonne on June 1, 2018, same as that of the adjusted...
Nalco to invest Rs. 7000 crore to Rs. 12000 crore for alumina refinery in Vishakapatnam
Odisha-based Asia’s largest integrated aluminium complex National Aluminium Company’s (Nalco) business expansion is on a roll. It is ready to invest INR 7000 crore to INR 12000 crore to set up a 1.4 million tonne or 2 million tonne alumina refinery in Vishakapatnam, as disclosed in an exclusive interview to The Hindu. Nalco Chairman and Managing Director Tapan Kumar Chand said on Wednesday, May 30, 2018, that for setting up an alumina refinery, the company requested the Centre to consider allotment of bauxite mines. Nalco is in the process of acquiring a new block at Pottangi located on the Andhra-Odisha border. It also has bauxite ore blocks at Panchapatmali in Koraput district of neighbouring Odisha. Mr. Chand said nobody would oppose investment by Nalco as it is in the public sector...
Why buy AlCircle’s “World Recycled Aluminium Market Analysis - Industry Forecast to 2022” report?
On the face of increasing aluminium demand across the world, rapid growth of aluminium recycling sector has become imperative to ensure adequate supplies of the metal with more sustainable use of resources. In 2017, the world production of recycled aluminium was estimated at around 20.9 million tonnes, against a production of primary aluminium at 63.4 million tonnes. The world stock of aluminium products, on the other hand, has also been put at some 950 million tonnes, since inception, assuring the long-term availability of aluminium scrap for recycling industry that uses only 5% of the energy when compared to producing aluminium from bauxite ore through smelting process. So, keeping the importance of aluminium recycling in mind and its future prospect, Al Circle, as a responsible...
Volatile aluminium price to affect US domestic aluminium finished products manufacturers
The US domestic aluminium finished products manufacturers such as automakers and can makers have been in real distress over the past few months on increasing volatile aluminium price range across the world. Series of events like the United States’ tariffs on imported aluminium and steel, followed by the sanctions on Rusal blew a storm to create price upheaval. In the US, the aluminium price jumped highest to 26 per cent in April and remained 12 per cent higher since January. If this price rise sustains, it could affect the prices of aluminium extrusions and rolls, which in turn, would pass on a great impact on the end-user sector with a maximum usage of aluminium, including transportation, construction, electrical and consumer goods. From February 16 to March 23, 2018, the demand for...
Alumina Limited to expand bauxite production on anticipating bauxite shortage in China
On anticipating the shortage of bauxite availability in China within the next three years, Alumina Limited would consider acquiring new bauxite assets. It would even consider ramping up the production capacities of its existing mines. Alumina and its joint venture partner Alcoa have exposure to bauxite assets in Western Australia, Guinea and Brazil. Mike Ferraro, the company’s chief executive, indicated that he would be interested in growing the company’s bauxite output through organic and possibly inorganic means. He told the Australian Financial Review, "We've got bauxite in Western Australia, Guinea and in Brazil and each of those has different advantages and disadvantages, so I think we would certainly look to not only growing organically those mines for third-party exports, but also...
China’s aluminium inventory marks fifth consecutive week of decline: A00 ingot price rises
China’s primary aluminium inventory has been witnessing a continual decline on limited deliveries to warehouses since the beginning of the month, and today, May 31, 2018, did not display any exceptions. According to the Shanghai Metal Market, including SHFE warrants, the inventory saw a plunge from 2.05 million tonnes to 2.03 million tonnes. Deliveries to warehouses at major markets continued to be limited, SMM learned. This drop in aluminium inventory indicates that it dipped 45,000 tonnes from Thursday, May 24, and fell 20,000 tonnes from Monday, May 28. The week-on-week decline today was relatively slower than the decline of 60,000 tonnes last Thursday, and marked a fifth consecutive week of decline. The table below shows the movements of inventories across the major Chinese cities....
