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.
Secondary aluminium alloy export prices estimated to surge on tight supply in the market: SMM updates
According to Shanghai Metal Market, secondary aluminium exports prices in China are likely to surge further in a short period of time as a resultant of month-long operation suspension of China Certification and Inspection Group (CCIC) at North America in May, which would significantly lower the aluminium scrap imports from the US and shrink secondary aluminium exports as a consequence. Since May 4, the authority has imposed broad-based inspections on all scrap materials imported from the US and put CCIC’s operations at North America under A-level risk alert for one month, thereby, affecting China’s ability to import adequate scrap from the US. About 50,000 tonnes of aluminium scrap imports have been anticipated to be affected by this move in May learned Shanghai Metal Market. In this...
Active consumption of downstream aluminium drives a surge in trading in South China: A00 ingot price rises further
With local downstream consumers having keen interest to purchase aluminium at given stable prices, Guangdong province in China saw a swift growth in overall trading on Tuesday, May 15, 2018, learned Shanghai Metal Market. In this background, the average A00 aluminium ingot price did not miss to grab the opportunity to witness a hike again on May 16, 2018, to close at RMB 14640 per tonne from RMB 14570 per tonne on May 15, 2018. The prices are expected to range between RMB 14620 per tonne and RMB 14660 per tonne, with spot discounts to settle at RMB 90 to RMB 50 per tonne. While in East, the aluminium ingot price rose from RMB 14570 per tonne to RMB 14630 per tonne; in South and North, the prices surged from RMB 14575 per tonne to RMB 14655 per tonne and RMB 14555 per tonne to RMB 14625...
Austal to invest in commercial shipbuilding expansion for large, high-speed aluminium vessel contracts
Just a few days after missing out on a role in the Offshore Patrol Vessel (OPV) project, Austal Limited took a great pleasure to announce the details of its capacity expansion plans at Henderson, Western Australia, and the Philippines on Monday, May 14, 2018. Started off in 2017, this expansion plan includes five large vessels over 80 metres in length that are collectively worth more than US$400 million. Stating that the investment was primarily focused on the large ferry market, Austal chief executive David Singleton said, “The capital investment in the commercial operation will increase Austal’s ability to secure and deliver large, high-speed aluminium vessel contracts in highly cost effective shipyards.” He also said, “The demand outlook in the market for large, high-speed aluminium...
Strikes at Guinea’s SMB shut off 1.2 million tonnes of bauxite production
Guinea’s Societe Miniere de Boke (SMB) has completely shut down its bauxite production over the past ten days owing to a staff walkout and already lost around 1 million to 1.2 million tonnes of scheduled bauxite production, with losses running to US$1 million a day, told Frederic Bouzigues, general director of SMB, to Reuters over telephone on Monday, May 14, 2018. Guinea’s volatile western town Boke is known for suffering from frequent strikes and protests from a local population who feel excluded from the town’s vast mineral wealth. Bouzigues said, “All our activities are blocked because of a decision to stop work that some of our employees have taken to stop work, after the arrest of a union leader by the authorities.” Union Leader Aboubacar Sidiki Mara was arrested by police in the...
Nalco works towards achieving revenue of INR 93.5 billion from operations in FY19
National Aluminium Company (Nalco), a navratna firm under Union Mines of Ministry, sets a goal to achieve revenue of INR 93.5 billion from operations in FY19, 15 per cent higher than the previous financial year. The company’s chairman and managing director Tapan K Chand has signed off on a memorandum of understanding (MoU) with the ministry, represented by Anil Gopishankar Mukim, secretary of Union Mines Ministry on Monday, May 14, 2018. The MoU has been formulated as per the guidelines of the Department of Public Enterprise and finalised after discussions with the inter-ministerial committee as well as the Ministry of Mines, setting a target of 2.1 million tonnes of alumina production with 100 per cent utilisation of capacity and optimum aluminium production target of 0.41 million...
Spot aluminium inventories plunge in Guangdong on fewer deliveries: Ingot spot price witnesses a surge
According to Shanghai Metal Market report, spot aluminium inventories in Guangdong province in China plunged 16,000 tonnes on Monday, May 14, 2018, from a week ago with fewer deliveries. Inventories declined, owing to the rise in production of molten aluminium and as busbars in newly added aluminium capacities utilised more aluminium. The SHFE 1805 contract rose from lows of RMB 14,505 per tonne to RMB 14,535 per tonne. While in East China, transactions of cargoes with May invoices were heard at RMB 14,460 per tonne to RMB 14,510 per tonne with discounts of RMB 30 to RMB 20 per tonne against the SHFE 1805 contract, transactions in Wuxi and Hangzhou hovered at RMB 14,460 per tonne to RMB 14,510 per tonne and RMB 14,480 per tonne to RMB 14,530 per tonne respectively. In Guangzhou market...
Glencore and Rusal request LME to remove suspension on Rusal’s aluminium
According to a source, both Glencore and UC Rusal have urged the London Metal Exchange to temporarily lift its suspension on Rusal’s aluminium, followed by an extension of the sanctions deadline on Russian aluminium companies. The US Treasury Department had extended the sanctions deadline on Rusal until October 23, 2018, and said it would even consider lifting the sanctions if Rusal’s major shareholder Oleg Deripaska ceded control of the company. The extension was issued late April and effectively meant that aluminium produced and sold by Rusal until October 23, 2018, was free of US sanctions, so long as the deal to buy was signed before they were imposed on April 6. Same is the case with Swiss-based mining giant Glencore which has a seven-year deal to buy aluminium from Rusal between...
Vehicle outputs and sales in China register a year on year growth by 12.27% and 11.47% respectively
According to the report released by China Association of Automobile Manufacturers (CAAM), the total vehicle outputs and sales in China reached 2.3974 million units and 2.3186 million units, reflecting a year on year growth by 12.27 per cent and 11.47 per cent respectively, while on the other hand, dropped 8.79 per cent and 12.71 per cent against the performances in March. As far as the passenger vehicles (PVs) are concerned in China, the total production in April reached 1.9998 million units, growing 12.17 per cent year on year but falling 9.06 per cent month on month. The total delivery of passenger vehicles to China, however, increased 11.16 per cent from a year ago, accounting for 1.9144 million units. The top 10 Chinese automakers by April sales were SAIC Motor, Dongfeng Motor...
Primary aluminium inventory in China witnesses a succeeding dip; A00 ingot price plunges again
According to a Shanghai Metal Market report, an incessant growth in aluminium shipments and a constant rise in consumption in some of the major Chinese markets like Wuxi and Foshan drove a further downfall in primary aluminium inventory on May 14, 2018, to close at 2.15 million tonnes, as against 2.196 million tonnes on Thursday, May 10, 2018. This indicates that the inventory was down 42,000 tonnes from Thursday, May 10, 2018, and 56,000 tonnes from 2.21 tonnes on Monday, May 7, 2018. Some of the major Chinese cities also witnessed a plunge in inventory, such as in Shanghai, the inventory fell to 452,000 tonnes; in Nanhai, Foshan, and Guangdong, it dipped to 377,000 tonnes and in Gongyi and Henan, it sank to 198,000 tonnes. More details are as follows: The average A00 aluminium ingot...
South Africa to continue communicating with US over imported aluminium and steel tariffs
While speaking to reporters in Parliament on the outcomes of Wednesday’s (May 9, 2018) fortnightly cabinet meeting, Nomvula Mokonyane, Minister of Communications reported that Cabinet was disappointed at United States’ decision to not exempt South Africa from its imported aluminium and steel tariffs. She also said that the country would continue discussing the matter with the US to find a solution which would benefit both the countries, adding that South Africa had no intention in leveraging on its United Nations votes against the US’s wishes as a retaliatory act. “The South African government will continue to engage with US authorities to find a mutually acceptable outcome. Cabinet also encourages domestic importers to continue to lobby US buyers to apply for product exemptions, as South...
Nalco to trim aluminium cost by 25% after its in-house captive coal block becomes operational
Followed by experiencing windfall gains from booming metal prices at LME, state-owned integrated aluminium complex Nalco now aims at improving its profitability further after Utkal D block becomes operational. Nalco was given two captive coal blocks – Utkal D and E – with a combined deposit of 200 million tonnes, out of which, the former is expected to start operating from the end of the year or beginning next year and reduce Nalco's aluminium production cost by 25 per cent by providing the necessary amount of coal as required energy, aiding company to save up to US$500 or INR 35,000 per tonne of aluminium churned out at Nalco’s 0.46 million tonne smelter at Angul. “Most of the statutory clearances for the block are in place and it will be a game changer for the company”, said TK Chand,...
Justin Trudeau to make announcement for funding aluminium project at Quebec
Canadian Prime Minister Justin Trudeau is to make an announcement for aluminium project funding on Thursday, May 10, 2018, at Saguenay, along with Quebec Premier Philippe Couillard and Rio Tinto’s executives. The details of the project are not known yet other than the fact that it will start ahead of by-election call in Quebec region. This move by Justin Trudeau, however, could not avoid going through sharp criticisms from opposition parties. The latter is of the opinion that the Liberal Party is playing politics to influence the outcome of the impending vote in Chicoutimi-Le Fjord, a riding that has been vacant since Dec. 1, 2017. NDP MP Alexandre Boulerice also thinks that this upcoming aluminium project announcement with Rio Tinto has an indication of electoral opportunism, despite his...
Growing shipments in China drive a plunge in aluminium inventory: A00 aluminium ingot price dips as well
As shipments grew in some of the major Chinese markets like Wuxi and Foshan, China’s primary aluminium inventory again shrank from 2.21 million tonnes on May 7, 2018, to 2.196 million tonnes on Thursday, May 10, 2018, according to Shanghai Metal Market. On May 7, the inventory had risen from 2.2 million tonnes on May 2, 2018, however, plunged again on May 10 due to rising shipments. As a consequence, some of the Chinese cities also witnessed a shrink in their inventories, such as follows: On the other hand, according to the update from SMM, the average A00 aluminium ingot price dropped further to RMB 14520 per tonne on Thursday, May 10, 2018, from RMB 14560 per tonne on May 8, 2018. The prices are expected to range between RMB 14500 per tonne and RMB 14540 per tonne, with spot discounts...
US-China trade talks end with a long list of demands from US; China State Media sees positive development
Trade talks between the United States and China, led by US Treasury Secretary Steven Mnuchin and Chinese Vice-Premier Liu He on Friday, May 5, 2018, resulted in not many tangible achievements other than both the nations agreed upon having more dialogue in the future over US-China trade war. A list of dramatic concessions demanded by the US at the meeting that would possibly challenge the core elements of China’s economic system and its ambitions for future development is even anticipated by the trade analysts to have no solution to the trade war between the two large economies. In addition to demanding state subsidies halt from China for industries under its ‘Made in China 2025’ plan, the United States has even asked China to solve US's trade deficit by at least US$200 billion by the end...
Downstream consumers stockpiling more on ingots than billets; major alloy prices remain unchanged
Aluminium downstream players started stockpiling raw material in the last week and continuing to do so until this week, resulting in active trading at aluminium spot market across East and South China, Shanghai Metal Market research found. Traded prices for aluminium billet processing fees, however, have dipped to as low as RMB 700 per tonne last week on Friday, May 4, 2018, with fewer transactions than aluminium ingots, SMM learned. This was primarily due to the increasing use of aluminium ingots in processing plants than the aluminium billets because of higher processing fees than the former. Aluminium rod processing fees, on the other hand, have surged in Guangdong to RMB 850 per tonne last week from RMB 500 per tonne in mid-April, as a consequence of a plunge in aluminium billet...
EU to pursue limited trade deal with US following full aluminium and steel tariffs exemptions
The European Union has decided to pursue a limited trade deal with the United States after Washington grants it a full exemption from imported aluminium and steel tariffs, reported the EU’s top trade official on Friday, May 4, 2018. "I would say that a more limited agreement would be the easiest one if we want to get results quickly," said EU Trade Commissioner Cecilia Malmstrom in an interview to AFP, a few days after Washington extended aluminium and steel tariffs exemptions on Europe and other allies until June 1, 2018. According to Malmstrom, a US trade deal would be totally different from the attempted and highly ambitious Transatlantic Trade and Investment Partnership (TTIP) deal. It will require a lengthy scoping process and unanimous approval of EU member states for the talks to...
Alcoa to conduct labour talks for its Quebec smelter
Alcoa Corporation, the world’s sixth largest producer of aluminium with corporate headquarters in Pennsylvania, announced on Friday, May 4, 2018, that its Quebec smelter is ready to conduct mediated contract talks with the United Steelworkers union and has also notified provincial labour ministry about it. Alcoa, with an annual production capacity of 430,000 tonnes, has been operating at reduced output capacity by union co-workers since January 11, 2018, as the company had locked out its 1,030 unionised workers on contract expiry. Aluminium markets, on the other hand, were struggling for weeks when the United States slapped the Russian oligarch Oleg-Deripaska-owned UC Rusal with sanctions. However, the situation is now under control since when the US has extended the sanctions deadline to...
Vedanta reports 22% YoY revenue growth for FY 2018 on account of the capacity boost at Aluminium
Mining conglomerate Vedanta Ltd. has announced its unaudited consolidated results for the fourth quarter of the financial year 2017-18, as well as the full financial year ended March 31, 2018. According to the results, the company has witnessed 22 per cent increase in year-on-year revenue closing at INR 92,923 crore and 13 per cent increase in quarter-on-quarter revenue to close at INR 27,630 crore. The increase was mainly on account of the ramp-up of capacities at Aluminium, record production from Zinc India and improved commodity prices partly offset by currency appreciation and lower sales at Iron ore. The firm has reported a 34 per cent rise in consolidated profit-after-tax (PAT) at INR 5,675 crore for the fourth quarter of FY2017-18, whereas, in the contemporary period last year, it...
