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.
Boeing worries about the impact of potential US-China trade war: Anticipates job cuts
President Trump is continuing to keep several countries on toes, especially China, with imported aluminium and steel tariffs and at the same time, keeping workers like Charles Cesmat, a parts manager at a Boeing plant in Renton, Washington in dismay. Boeing is perhaps one of those American companies that ride on a super healthy relationship with China. It ships one of every four planes that it assembles to China. So, every time Mr. President slaps Beijing with a new set of tariffs, Mr. Cesmat winces. “I’m concerned a potential trade war could affect work for our members and work for me,” Mr. Cesmat said. “Thousands of people’s jobs rely on a working relationship with China.” According to a Seattle consulting firm, Boeing’s trade with China supports 40 per cent of all jobs in Washington...
Mytilineos anticipates positive prospect for its alumina business in Greece
The Greek Industrial Group reported on Thursday, May 3, 2018 that Mytilineos, a Greek-based industrial conglomerate whose companies are active in the sectors of metallurgy, energy, and EPC, is expecting a positive prospect for its alumina business in Greece despite surging alumina prices last month on the face of US sanctions against Russian aluminium companies including UC Rusal. The scarcity of alumina due to partial production shutdown at Norsk Hydro’s Alunorte’s alumina refinery in Brazil, following the bauxite output cut at Hydro’s Paragominas mine, had also created a buzz across the world. Nevertheless, amid all the muddles in the alumina sector across the world, Mytilineos is keeping hopes on its alumina business. As it reported in a first-quarter trading update, it has...
Aluminium spot market sees active trading in East China; A00 aluminium ingot price rises further
According to Shanghai Metal Market, China’s aluminium spot market witnessed a significant rise in trading, especially in Shanghai, Hangzhou, and Wuxi on Thursday, May 3, 2018. The reason was more and more traders wanted to stockpile aluminium due to tight market supply. Transactions in Guangdong, however, remained flat due to sluggish downstream demand. In Shanghai, while the transactions for cargoes with May invoices stood at RMB 14400 to RMB 14410 per tonne with discounts of RMB 50 to RMB 40 per tonne against the 1805 contract, in Wuxi and Hangzhou, the transactions were heard at RMB 14400 to RMB 14410 per tonne and RMB 14420 to RMB 14440 per tonne respectively. Most of the transactions were from traders since downstream demand remained low. Guangdong, on the other hand, had a quieter...
Bauxite operations stakeholders rejoicing on Rusal ban halt
Local stakeholders of bauxite operations owned by Russian company UC Rusal is beaming with utmost joy since the United States has amended sanctions which it had imposed on key figures in Russia. The month of May thus began with the best positive move ever by putting an end to the blacklisting of the international aluminium giant. Not only is this decision expected to bring in a gust of positive sentiment in the metal market by eradicating aluminium supply scare but should also provide a lifeline for the employees and communities that benefit from the operations of UC Rusal-owned West Indies Alumina Company (Windalco) in St Catherine and Kirkvine works in Manchester. Hugh Graham, the replacement of Robert Pickersgill for the future general elections in North West St. Catherine constituency...
US to not relief New Zealand from imported aluminium and steel tariffs
New Zealand to be slapped with aluminium and steel tariffs if they want to export to the US – declared the Trump government. While on one hand, the United States has reached agreements for permanent exemptions for some of its allies including Australia and extended reprieve for the EU, Canada, and Mexico until June 1, 2018; on the other, the country excluded New Zealand, South Africa and Japan from the relief. Although the decision did not appear as a big surprise to the New Zealand government, yet it felt like "a kick in the guts", said Employers and Manufacturers Association chief executive Kim Campbell. Expressing disappointment, he also said, “What we have trouble trying to figure out is the rather random nature of the countries that have been made exempt.” "It seems our closest...
China’s A00 aluminium ingot price sees a growth; alumina price plunges on the other hand
Although the average A00 aluminium ingot price witnessed a dip to RMB 14330 per tonne on 2nd of May, 2018 from RMB 14430 per tonne on 27th of April, it restored and secured a marginal growth to RMB 14390 per tonne just a day after i.e. on 3 rd of May, 2018. The price was up from May 2 but down from April 27, according to Shanghai Metal Market. The prices are expected to range between RMB 14370 per tonne and RMB 14410 per tonne, with spot discounts to settle at RMB 70 to RMB 30 per tonne. Amidst the oscillating phase on the face of Rusal’s sanctions and dicey availability of alumina for the production due to output cut at Hydro’s refinery, a little hike in A00 aluminium ingot price in China left a gust of positive sentiment in the market for the sellers, as well as for the producers. Major...
New Zealand Aluminium Smelters to recommence operation at its mothballed potline
New Zealand Aluminium Smelters, controlled by the mining giant Rio Tinto, has declared to restart its fourth potline in next six months to strengthen production capacity at Tiwai Point smelter by about 9.2 per cent and create 32 new jobs in Scotland. The company takes this decision on securing a power contract for 50 megawatts per hour until December 2022 and estimates to boost its production by 85 tonnes a day, which amounts to 31,000 tonnes a year, up by 9.2 per cent from the existing production of 337,000 tonnes. NZAS chief executive Gretta Stephens said, "It is never good to have a cold potline at a smelter as it represents a capital investment that isn't contributing to our economy and our community." Adding to it, he also said, “NZAS is well-placed to offer metal that is...
Nord Pool striving to restore access to Rusal’s Swedish aluminium smelter Kubal
The Kubal smelter, Rusal’s sole producer of primary aluminium in Sweden, with a production capacity of 134,000 tonnes was suspended from trading on the Nord Pool energy trading market a couple of weeks ago, in the wake of US sanctions on Russian companies. Within a week, the latter, Europe’s leading power market, is striving to find a solution to restore access to Kubal, as reported by Reuters on Friday, April 27, 2018. Nord Pool’s spokeswoman intimidated Reuters via e-mail on Friday that they are now cooperating with Kubikenborg Aluminium to find a solution for it. According to the spokeswoman, the suspension was due to a violation of Nord Pool’s rule book that operates independently of any US sanctions on Rusal. The detail of the violation, however, could not be provided due to the...
Taweelah Aluminium Extrusion Company inaugurated in Kizad
Sheikh Sultan bin Tahnoon Al Nahyan, Executive Council Member of Abu Dhabi, inaugurated one-of-a-kind highly automated and flexible aluminium extrusion plant Taweelah Aluminium Extrusion Company (Talex) on Tuesday, May 1, 2018, at the Kizad Industrial City in Abu Dhabi. Formed through a joint venture between General Holding Corporation (Senaat) and privately-owned Gulf Extrusions Al Ghurair Group, Talex, spreading over 200,000 square meters, is the result of a US$240 million investment, with an estimated annual production capacity of 50,000 tonnes of aluminium profiles and 45,000 tonnes of aluminium billets for regional as well as international markets. The opening ceremony was attended by ministers, key government officials, as well as senior executives representing existing and...
US turns down South Africa’s appeal for exemptions from imported aluminium and steel tariffs
Among many other countries, South Africa had urged for an exemption from the US imported aluminium and steel tariffs claiming that its metal exports to the US is too marginal to pose any national security threat to the latter nor should affect the aluminium and steel manufacturers there. But unfortunately, the request has been disregarded by the Trump government. Although the United States has extended the exemptions for Canada, Mexico, and the European Union until June 1, 2018, and has reached agreements for permanent exemptions for Argentina, Australia and Brazil on Tuesday, May 1, 2018, it did not consider South Africa. South Africa’s Department of Trade and Industry (DTI) spokesperson Sidwell Medupe has expressed disappointment on this matter, saying that despite representing only 1.6...
China's aluminium inventory plunges over Labour Day holiday; A00 ingot price dips as well
After two days of holiday on the commemoration of Labour Day in China, Shanghai Metal Market unwrapped witnessing a drop in aluminium inventory on Wednesday, May 2, 2018, to close at 2.2 million tonnes. To say the truth, aluminium inventory had been witnessing a fall over the past one week, hovering at 2.231 million tonnes on 23rd of April, down from 2.248 million tonnes, and 2.21 million tonnes on April 26 respectively. Lowering of future price due to less investment on future contract by downstream consumers was the primary reason for the aluminium inventory plunge last time; while arriving of limited deliveries over the Labour Day holiday and rise in shipment ahead of the holiday bears the key responsibility for a further dip this time. Transactions in some of the major Chinese markets...
Guinea gives preliminary approval to a new bauxite project worth US$1.4 billion
Guinea, Africa’s top bauxite producer with the production more than doubled last year to about 50 million tonnes, has approved plans of a Netherland-based company to develop a bauxite mine and alumina refinery worth US$1.4 billion in Guinea, said Guinea’s government on Friday, April 27, 2018. According to a government report, a cabinet meeting on Thursday, April 26, 2018, authorised the drafting of a mining contract that would allow Societe des Bauxites de Guinee (SBG), a subsidy of MetalCorp Group to begin production by the close of 2022. Once operational, the new mine is apprehended to take the Guinea’s position to a whole new level as the region’s leading bauxite producer, by producing an estimated 8 million tonnes of bauxite annually, out of which 3 million tonnes would be for the...
US to extend relief to some of its important allies from aluminium and steel tariffs
Temporary exemptions from US imported aluminium and steel tariffs are about to come to an end on Tuesday, May 1, 2018. So, the Trump administration has decided to extend it to some of its allies, but not all, said Commerce Secretary Wilbur Ross in an interview in Washington on late Saturday, April 28, 2018. However, the names of the countries that would be spared from the tariffs have not been declared yet by the Commerce Secretary. Ross in the interview said, further announcement will be made just before the May 1 deadline for the duties to kick in. He also said nations have been asked to accept import quotas in return for tariff-free access of the metals into the US. As the last date of exemption validity is approaching close, it is fuelling tensions among some of the US’s strongest...
Weiqiao in China reduces Pre-baked anode purchasing prices; average price unchanged
According to Shanghai Metal Market on April 27, 2018, Weiqiao Group has reduced the purchasing prices of pre-baked anode. This is the fifth month in a row that the group has lowered the prices. For May, the prices are hovering at RMB 3390 per tonne in cash and RMB 3425 per tonne, which are RMB 200 per tonne lower than the previous month. This indicates that the pre-baked anode prices for May have dwindled even below the average costs. Even for lower-cost producers, these prices are considered to be around the break-even line as they offer other discounts. On the other hand, SMM updated on the same date that the average spot prices of pre-baked anode remained unchanged, all across the major Chinese markets. While in East and Central, the prices were standing at RMB 3625 per tonne and RMB...
EGA & Louis Dreyfus Armateurs to work together for bauxite transshipment in Guinea
The UAE-based largest industrial company, Emirates Global Aluminium, owned equally by Mubadala Development Company of Abu Dhabi and Investment Corporation of Dubai, has signed a 15-year agreement with LD Ports & Logistics, a subsidiary global marine transport and services group of Louis Dreyfus Armateurs, for the transshipment of bauxite in the Republic of Guinea. Abdualla Kalban, EGA’s managing director and chief executive officer said at the signing ceremony, “EGA has set an ambitious growth agenda to expand upstream and internationally. Transshipment is an important link in the chain that will connect our alumina refinery and aluminium smelters in the UAE with bauxite mines in Guinea, and will also lower shipping costs from GAC to global bauxite markets.” As per the deal, EGA will load...
East China spot aluminium market witnessed cargoes transactions for May invoices
According to Shanghai Metal Market, cargoes transactions with invoices for May dominated the spot aluminium market in East China on April 27, 2018. This was primarily because market participants rushed to take advantage of the last trading day before that value-added tax (VAT) came into effect. The SHFE 1805 contract rose in the morning. While on one hand, Shanghai saw most transactions done at RMB 14410 per tonne to RMB 14420 per tonne with premiums RMB 0 to RMB 10 per tonne against the SHFE contract, on the other hand, Wuxi and Hangzhou witnessed transactions at RMB 14410 per tonne to RMB 14420 per tonne and RMB 14460 per tonne to RMB 14470 per tonne respectively. East China also witnessed stable shipments while traders stockpiled less and downstream consumers purchased on demand for...
Jamaica persuading Rusal to acquire Windalco
In the face of US sanctions against Russian aluminium company Rusal, bauxite sources in Jamaica are floating the idea that UC Rusal may have to be persuaded into giving up controlling interest in its local bauxite operations for avoiding the further consequences. Although the situation has now turned different earlier this week as the United States softened the sanctions on Rusal for next five months, yet the Jamaican Government expects Rusal, the owner of Windalco, to face problems in securing its raw materials for local output, as reported by Minister of Transport & Mining Robert Montague on Tuesday in an update to Parliament on the sanctions threat. Montague has sent a clear signal on Tuesday that the Government is ready to take over Windalco in the national interest, even while noting...
A00 aluminium ingot price up marginally on SMM, alumina price remains stable
The average A00 aluminium ingot price has risen up marginally on Shanghai Metal Market on 27 th of April, 2018, from RMB 14360 per tonne to RMB 14430 per tonne. The prices are expected to range between RMB 14410 per tonne and RMB 14450 per tonne, with spot discounts to settle at RMB 20 to RMB 60 per tonne. All the major Chinese markets have also seen a surge. While in East, including Wuxi city and Jiangsu, the price has increased from 14350 to 14415; in South and North, the prices have soared from RMB 14345 per tonne to RMB 14475 per tonne and RMB 14390 per tonne to RMB 14440 per tonne respectively. Average alumina spot price, on the other hand, according to Shanghai Metal Market, has been continuing to remain stable since 24 th of April to 27 th of April, 2018 to close at RMB 3135 per...
