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.
Century Aluminum appreciates Joe Biden’s move to check Chinese aluminium imports via Mexico
Century Aluminum Company, a US-based producer of primary aluminium, has wholeheartedly welcomed Joe Biden’s move to tighten aluminium and steel imports from China and other nations through Mexico. The United States administration has strategically imposed an additional 10 per cent tariff on primary aluminium smelted or cast in China, Iran, Belarus, or Russia arriving via Mexico. This move effectively addresses the loophole that countries were utilising to avoid US import tariffs by routing through Mexico, thereby safeguarding the domestic aluminium industry. According to Century Aluminum, this initiation is an important first step in checking aluminium transshipments and unfair trade from third-party countries through Mexico. Reportedly, in the future, aluminium smelted or cast in China,...
Alcoa releases preliminary Q2 results, indicating potential growth in revenue, net income, and adjusted EBITDA
On July 10, 2024, Alcoa Corporation announced its preliminary second quarter 2024 results ahead of its final declaration of report on July 16, 2024. The preliminary data indicates improved financial results, primarily attributed to higher average realised third-party prices of alumina and aluminium. In Q2 2024, Alcoa’s revenue is estimated to range between US$2,850-2,925 million, demonstrating an increase of around 6-10 per cent from $2,599 million in Q1 2024 and US$2,684 million in Q2 2023. Net income attributable to Alcoa is likely to hover around US$5-25 million, compared to a net loss to Alcoa of US$252 million in Q1. This expected improvement in Alcoa’s net income is due to the non-recurrence of a charge of $197 million as was in Q1 2024 related to the curtailment of the Kwinana...
Hydro reports a fatal accident at its joint-venture company Albras
On July 9, 2024, Hydro reported a fatal accident of a contractor at its joint venture primary aluminium-producing company Albras. The accident happened while the contractor was performing maintenance on an electrolysis cell. However, to determine the root cause of the incident, Hydro has already initiated an investigation together with the police and relevant authorities. Expressing deep sorrow, Eivind Kallevik, President and CEO of Hydro, said: “I am deeply saddened to learn about the fatality at our Albras joint venture plant. This tragic incident underscores the critical importance of safety in everything we do. Our heartfelt condolences go out to the family and the affected colleagues.” Albras is giving all the support to the deceased family and ensuring no repetition of such...
China’s aluminium ingot price continues to decline, marking M-o-M fall of RMB670/t; Bauxite price in Guizhou records 5% growth
On Thursday, July 11, China’s domestic A00 aluminium ingot price has continued to decline by RMB 70 per tonne to settle at RMB 20,140 per tonne, found the Shanghai Metals Market. For the past one week, China’s domestic aluminium price has shown a bullish trend, marking a significant downfall of RMB 240 per tonne. Today, the average prices are estimated to range between RMB 20,120-20,160 per tonne, with spot contract to be traded at a discount price of RMB 40 per tonne to a premium price of RMB 0 per tonne. On a month-on-month calculation, China’s aluminium ingot price has shrunk by RMB 670 per tonne from RMB 20,810 per tonne, but on an annual basis, the price has recorded an upturn of RMB 1,890 per tonne from RMB 18,250 per tonne. Aluminium ingot price movement across regions In Shenyang,...
Overview of the United States’ Q1 2024 aluminium imports: Strong trade agreement with Canada directing the trend
According to the United States Geological Survey, the United States imported 1.36 million tonnes of aluminium (including scrap) through the first quarter of 2024 ended March 31. That reflected an annual increase of 6.25 per cent from 1.28 million tonnes. In the individual month of 2024, the United States imported 448,000 tonnes, 492,000 tonnes, and 418,000 tonnes, indicating a fluctuating trend M-o-M. After a rise in February by 9.82 per cent, the United States’ aluminium imports in March decreased by 15 per cent. The top sources of imports in Q1 2024 included Canada (874,000 tonnes), the United Arab Emirates (69,600 tonnes), Mexico (63,900 tonnes), China (approximately 42,200 tonnes), and Argentina (41,100 tonnes). However, if compared to the previous year, imports from almost all the...
LME aluminium benchmark price retreats US$7/t; SHFE aluminium price returns below US$2800/t
On Tuesday, July 9, the three-month LME aluminum contract price opened at US$2,534 per tonne, reached a high of US$2,536.50 per tonne and a low of US$2,490.50 per tonne, and closed at US$2,497 per tonne, down US$32 per tonne from the previous closing price, a decrease of 1.27 per cent. LME aluminium cash bid price and LME aluminium official settlement price decreased by US$7 per tonne, marking the second consecutive day of fall, standing at US$2,468 per tonne and US$2,468.50 per tonne, respectively. With the latest decline, the LME aluminium benchmark price edged a week-on-week decline of US$21 per tonne from US$2,489.50 and a month-on-month plunge of US$47 per tonne from US$2,515.50 per tonne. 3-month bid price and 3-month offer price slipped by US$6.50 per tonne on the same day to come...
Suez UK and Alupro join hands to boost UK’s aerosol cans recycling
Suez UK, a pioneer in waste management through sustainable solutions and innovative technologies, has reportedly partnered with Alupro, the aluminium packaging recycling organisation, to revolutionise aerosol cans recycling in the United Kingdom. Their primary focus is accelerating recycling rates through a two-year partnership to help the domestic aluminium packaging sector achieve stricter recycling targets, which are part of the upcoming policy reforms. A report states that the United Kingdom uses approximately 650 million metal aerosols each year, primarily for household purposes. With the UK achieving a notable aluminium packaging recycling rate of 68% in 2023, there remains significant potential for increased aerosol recycling. This is the possibility that the partnership between...
Novelis’ North American operations earn ASI Chain of Custody Standard Certification for sustainable sourcing practices
Aluminium Stewardship Initiative (ASI) has successfully certified Novelis Inc. for its North American operations against the Chain of Custody Standard V1 (2017) Certification. The certification has been passed on, acknowledging Novelis’ regional management functions at its corporation headquarters in Georgia, USA, and production facilities across the United States and Canada, including plants in Kingston, Ontario, Canada; Berea, Kentucky; Greensboro, Georgia; Guthrie, Kentucky; Oswego, New York; Warren, Ohio; and its joint venture site Logan Aluminum Inc. in Russellville, Kentucky. This certification adds another feather to Novelis’ hat for its incredible sustainable sourcing practices for its facilities and other activities, such as remelting, recycling, casting, hot mill rolling, cold...
China’s A00 aluminium ingot price recovers RMB70/t from the preceding losses for two days; Aluminium alloy prices gain RMB50/t
According to the Shanghai Metals Market survey, A00 aluminium ingot price has grown after two consecutive days of downfall to stand week-on-week higher than RMB 20,210 per tonne. The price today, July 9, has increased by RMB 70 per tonne, reaching RMB 20,300 per tonne, up by 0.45 per cent from a week ago. The average prices are estimated to range between RMB 20,280 per tonne and RMB 20,320 per tonne, with spot contract to be traded at a discount price of RMB 70-30 per tonne. A00 aluminium ingot price across provinces Among the major Chinese consumption area, today the price in Tianjin has seen the highest growth of RMB 90 per tonne to RMB 20,340 per tonne, followed by an increase of RMB 80 per tonne in Foshan, Wuxi, and Chongqing to stand at RMB 20,130 per tonne, RMB 20,300 per tonne, and...
Turkey signs contract with Chinese EV manufacturer BYD for a $1 billion plant
Turkey has reportedly signed an electric vehicle manufacturing contract with Chinese electric car maker BYD. According to Turkish officials, the $1 billion plant will be located in the west of the country. The new plant coming up in Turkey will give the Chinese car manufacturer easier access to the European Union, as a small part of Turkey called East Thrace is in Southeast Europe. With the new plant, BYD will serve the Turkish domestic market with EVs, which accounted for 7.5 percent of car sales last year in Turkey. On July 5, Turkey said that this deal resulted from a month-old decision to withdraw the plan to impose an additional 40 per cent tariff on electric vehicle imports originating from China. The decision was consciously made to improve investments in the country. BYD, which...
Africa & Asia’s alumina output rebounds in May 2024 exceeding 1 Mt; however, falls short of early-year level
Alumina production in Africa & Asia (ex-China) showcased an encouraging month-on-month rebound during May 2024, following a plunge in the previous month. The output surpassed the 1 million tonnes level but did not match the production volume in January, February, and March. According to the International Aluminium Institute, Africa & Asia’s alumina output in May recorded a significant growth of 12 per cent over a month, reaching 1.117 million tonnes. Annually, the production increased by 3.43 per cent from 1.080 million tonnes. However, despite the positive trend, May production lagged behind January, February, and March output by about 10 per cent, 5 per cent, and 8 per cent, respectively. From January to May 2024, Africa & Asia (ex-China) produced 5.727 million tonnes of alumina, up...
China’s A00 aluminium ingot price stands steady W-o-W despite a continued loss of RMB40/t
Despite the continued decline in China’s domestic A00 aluminium ingot price, the market has shown resilience. The ingot price, standing at RMB 20,230 per tonne, is higher by 0.60 per cent than the previous week. However, compared to the last day of trading, the price has experienced a loss of RMB 40 per tonne. The average prices are estimated to range between RMB 20,210-20,250 per tonne, with spot contract to be traded at a discount price of RMB 70-30 per tonne. As the decline today has touched upon all the major Chinese consumption provinces, A00 aluminium ingot price in Tianjin and Wuxi has come in at RMB 20,250 per tonne and RMB 20,220 per tonne, experiencing a downfall of RMB 70 per tonne and RMB 50 per tonne, respectively. In Hangzhou and Linyi, A00 aluminium ingot price has slipped...
LME aluminium price settles at US$2/t higher than the earlier trading day; SHFE price marks weekly growth of US$8/t
Last Friday, LME aluminum opened at US$2,526.50 per tonne, reached a high of US$2,557 per tonne, a low of US$2,521.50 per tonne, and closed at US$2,539.50 per tonne, registering an increase of US$12.50 per tonne from the previous closing price. The LME aluminium prices expanded further on Friday, July 5, albeit at a slower pace than the previous day. While LME aluminium cash bid price increased by US$2.50 per tonne to US$2.495 per tonne, LME aluminium official settlement price grew by US$2 per tonne to US$2,495.50 per tonne. Compared to the data of a month ago, the present LME aluminium benchmark price is 3.16 per cent or US$ 81.50 per tonne less than US$2,577 per tonne. On July 5, 3-month bid price and 3-month offer price gained US$4 per tonne to close the week at US$2,544 per tonne and...
EU enforces 38% tariffs on Chinese electric vehicles; effects on aluminium consumption is in question
On Thursday, July 4, the European Union demonstrated its commitment to fair trade by levying additional tariffs of up to 37.6 per cent on electric vehicles originating from China, alleging ramifications for the domestic market with unfair state subsidies. The European Union took this measure even after Beijing warned of adverse impacts the move might bring, possibly a trade war. The news came after the European Commission officially announced the tariffs, adding that their initiation would be effective on Friday, July 5. The European Commission's strategic approach to the issue is evident from its decision to start probing into the impacts of Chinese electric vehicle imports last year. The investigation led the Commission to an interim conclusion that state subsidies for Chinese EV...
Sustainable Move: Airfoil embraces Capral’s LocAl® Green aluminium for its extruded product range
Airfoil, a global leader in air diffusion since 1976, has reportedly announced its significant move to adopt Capral's low-carbon aluminium LocAl® Green for manufacturing its premium air conditioning components and accessories. This transition is part of Airfoil's initiatives to produce greener building materials for eco-friendly infrastructures. Adopting LocAl® Green aluminium will also help the Australian company meet the increasing market demand for low-carbon products in the building & construction sector. Capral's LocAl® range of primary aluminium has two variants - LocAl® Green with carbon emissions of 8kg CO2e/kg and LocAl® Super Green with 4kg CO2e/kg, amongst the lowest carbon aluminium available globally. Airfoil particularly chooses Capral's LocAl® Green, which perfectly aligns...
World alumina production exceeds 12 Mt level in May amid dampened output in Oceania
The world's alumina production once again crossed the 12 million tonnes level in May 2024 (31 calendar days), close to the output in March 2024, reflecting a month-on-month increase of 2.43 per cent. During the same period last year, the world's alumina output was also above 12 million tonnes but slightly less than this year, showing a marginal difference of 0.19 per cent. However, it is to be noted here that although the output in May 2024 nearly matches the production of last year but the overall trend of this year through the five months demonstrated much positive than in the previous year. Thus, the year-to-date world's alumina production of 2024 totalled 58.974 million tonnes, up by 2.52 per cent from 57.522 million tonnes in the earlier year, found the International Aluminium...
Japanese aluminium buyers conclude Q3 premium negotiations with 8% reduction
According to the latest report, Japanese aluminium buyers have agreed to pay an 8 per cent lower premium for primary aluminium shipments for Q3 2024, ending September 30, than the previous quarter. The news came after five sources directly involved in quarterly pricing talks reported. The last offer by global producers for Q3 was $185 to $190 per tonne, compared to which the current premium is 36-37 per cent lower, standing at $118 to $119 per tonne. As opposed to the previous quarter's premium of $128 per tonne, the third-quarter premium agreed upon is 7.8-7 per cent less, following two quarters of rising premiums. In Q2 2024, Japan's primary aluminium shipment premium was 35 per cent higher sequentially, while that in Q1 was 27 per cent more. "We have settled the deals at $118 and $119...
North America’s aluminium demand witnesses a 4.3% annual growth aligned with production surge
Aluminium demand in North America, stemming from the automotive, aerospace, construction, and packaging industries, is undergoing an upward movement, fuelled by a concerted move towards sustainability by manufacturers. The aluminium industry in North America is categorised by product type and end-user sectors. Aluminium castings, primarily serving the transportation sector, lead in demand among all product types, followed by flat-rolled products supporting the packaging industry. According to AL Circle’s report “ Global Aluminium Industry Outlook 2024 ,” North America accounted for approximately 21.5 per cent of the global aluminium flat-rolled product use and 8.25 per cent of extrusion use in 2023. Demand analysis In the first quarter of 2024, North America, including the United States...
