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.
Hindalco Industries cuts its aluminium selling prices in response to LME aluminium price fall
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices on Thursday, March 15, in line with the LME aluminium price drop. Like other Indian aluminium companies, Hindalco links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange. On Thursday, March 14, the LME aluminium benchmark price decreased by US$19 per tonne, and in response, Hindalco Industries Limited cut its aluminium prices by INR 1,750 per tonne or 0.8 per cent on March 15. On March 14, Hindalco increased its aluminium prices by INR 1,750 per tonne in tandem with the LME aluminium benchmark price rise by US$10.50 per tonne on March 13. This indicates that Hindalco's aluminium prices lost what they gained the previous day. With the latest cut on March 15,...
LME aluminium benchmark price slumps by USS$19/t but still stands M-o-M higher
LME aluminum opened at US$2,261 per tonne on Thursday, March 14, with high and low at US$2272.50 per tonne and US$2244.50 per tonne, respectively, before closing at US$2,256 per tonne, down US$6.50 per tonne or 0.29 per cent. LME aluminium cash bid price and LME aluminium official settlement price plunged by US$19 per tonne overnight to stand at US$2,204 per tonne and US$2,205 per tonne, respectively, as of March 14. However, despite the latest downfall, the LME aluminium benchmark price stood 0.50 per cent higher M-o-M than US$2,194 per tonne but down W-o-W by 0.23 per cent from US$2,210 per tonne. On the same day, 3-month bid price and 3-month offer price declined by US$14.50 per tonne and US$15 per tonne, respectively, amounting to US$2,254.50 per tonne and US$2,255 per tonne. December...
Century Aluminum & MX Holdings team up to produce low carbon secondary aluminium billet
Century Aluminum Company, a global producer of primary aluminium, has reportedly signed a memorandum of understanding with MX Holdings to form a joint venture firm for manufacturing and marketing low-carbon secondary billet. MX Holdings is a global leader in the purchasing, processing, and manufacturing of non-ferrous metals. According to the report, the new JV will produce and supply highly engineered and technically advanced aluminium alloys made of increased recycled content produced with low-carbon processes. Under the new agreement, Century Aluminum and MX Holdings have also decided to produce billet at their existing, wholly-owned Pennex facilities. Each company will produce various alloys to meet specific customer needs. Matt Rohm, CEO of MX Holdings, parent company to Metal...
North America’s aluminium industry analysis: Demand starts turning to a positive trend after a gloomy 2023
The market dynamics of the aluminium industry in North America are gradually displaying a positive change, with a demand recovery in Q4 2023, as indicated by the preliminary estimates of the Aluminum Association. Even the beginning of 2024 has set a progressive tone, as the association’s index of net new orders of aluminium bill products hit 114.5 (baseline index of 100), the highest level since June 2022. Market Analysis Until the third quarter of 2023, aluminium demand in North America was sluggish, contracting by 4.4 per cent year-on-year to about 20,908 million pounds. That led to a downfall in the full-year demand by about 3.9 per cent, totalling 26,271 million pounds, compared to 27,337 million tonnes a year ago. The recovery in Q4 slightly offset the annual fall. Charles Johnson,...
Eivind Kallevik succeeds Hilde Merete Aasheim as the new President and CEO of Hydro
Norsk Hydro ASA, a leading Norwegian aluminium and renewable energy company, announced that it appointed Eivind Kallevik as the new President and CEO, who would succeed Hilde Merete Aasheim. The appointment will be effect from May 13, 2024. The news came after Dag Mejdell, chairperson of Hydro's Board of Directors, officially announced the appointment of Mr Eivind Kallevik, as Hilde Merete Aasheim has decided to step down after five years. Dag Mejdell said, "I am pleased to announce that Eivind Kallevik has accepted the job as President and CEO of Hydro. Throughout his more than 30 years of experience from Norwegian and international finance and industry, Eivind has a strong track record of developing the business, capturing opportunities, and maneuvering the industrial landscape and...
China’s alumina spot price drops for the fourth day in a row, causing no hindrance to A00 aluminium ingot price growth
According to the Shanghai Metals Market survey, China’s average alumina spot price has dipped by RMB 1 per tonne on Thursday, March 14, marking the fourth consecutive day of fall. Thus, the price stands at RMB 3,321 per tonne, down by RMB 11 per tonne or 0.33 per cent week-on-week compared to RMB 3,332 per tonne. In Shanxi, the alumina spot price has decreased by RMB 5 per tonne to RMB 3,315 per tonne, which on a week-on-week basis is down by RMB 30 per tonne or 0.90 per cent from RMB 3,345 per tonne. In other provinces like Shandong, Henan, Guizhou, and Guangxi, the alumina spot price has remained restrained on March 14. A00 aluminium ingot price However, amid the incessant downfall in the alumina spot price, A00 aluminium ingot price has been rising for the past three days. According to...
China’s aluminium ingots and billets inventory start trending down with increased outflows from warehouses
At the end of last week on March 7, China's domestic aluminium ingots and aluminium billets inventory showed a downtrend with the arrival of the traditional peak season. According to SMM, aluminium ingots inventory in China's eight major consumption areas stood at 821,000 tonnes, up 3,000 tonnes from March 4 and 33,000 tonnes higher than the pre-Chinese New Year holidays during February 10-15. Compared to the past seven months of the same period, the inventory reflected a slow growth and remained at the lowest. The fall in ingot inventory was primarily driven by the significant rise in outflows from warehouses by about 17,7000 tonnes week-on-week in the second week after CNY, amounting to 98,800 tonnes. The inventory performance after CNY this year is similar to last year. SMM suggests...
Primary aluminium production in Europe (incl. Russia) grows for the second month in Jan'24, connoting an ease of energy crisis
Primary aluminium production across Europe (including Russia) totalled 579,000 tonnes during January 2024, reflecting a rise of 3,000 tonnes from 576,000 tonnes in December 2023 and a hike of 5,000 tonnes from 574,000 tonnes in January 2023. The production improved for the second straight month as the energy crisis started easing, implied by the fact that European Commission softened the stringent policy of 15 per cent gas consumption curb. EU diplomats even said in recent statements that some countries view the policy as no longer necessary since the peak of Europe's energy crisis has passed. Production in Russia and Eastern Europe The primary aluminium production rise in Russia & Eastern Europe for the second consecutive month during January 2024 further underscores the fact that the...
LME aluminium price stands nearly a six-week high by adding US$11.5/t; SHFE price slips by US$5/t
LME aluminum opened at US$$2,250 per tonne on Tuesday, March 12, with high and low at US$2,270 per tonne and US$2,242.50 per tonne, respectively, before closing at US$2,263 per tonne, up US$11 per tonne or 0.49 per cent. On Tuesday, March 12, LME aluminium cash bid price and LME aluminium official settlement price built up by US$11.50 per tonne or 0.52 per cent to stand at US$2,213 per tonne and US$2,213.50 per tonne, marking about a six-week high. Aluminium demand in the global market has recovered in the ongoing traditional peak season, but supplies from top producers in China are yet to fill the gap. In addition, a firmer US currency after inflation data above consensus also added pressure to industrial metals. 3-month bid price and 3-month offer price moved up by US$20 per tonne to...
China’s alumina spot price drops for the second day by RMB2/t; A00 aluminium ingot price gains RMB40/t
According to the Shanghai Metals Market survey, the average alumina spot price has dropped by RMB 2 per tonne, marking a second consecutive day of fall. On the previous day, the average alumina price decreased by RMB 4 per tonne to stand at RMB 3,328 per tonne. Today, the price has come in at RMB 3,326 per tonne after losing RMB 2 per tonne. Among the provinces, only Shanxi has witnessed a fall in the alumina price, while the rest have seen restraints. According to SMM, the average alumina spot price has shrunk by RMB 5 per tonne to settle at RMB 3,330 per tonne. A00 aluminium ingot price In contrast, China's domestic A00 aluminium ingot price has gained today, following a decline of RMB 70 per tonne the previous day. According to SMM, the ingot price has declined by RMB 40 per tonne to...
China’s Feb'24 aluminium output falls 6.4% M-o-M on reduced production at downstream processing plants
According to the Shanghai Metals Market survey, China’s aluminium production in February 2024 (29 calendar days) stood at 3.333 million tonnes, up by 7.81 per cent year-on-year and down by 6.43 per cent month-on-month . Despite a drop in monthly production, the daily average output stood steady at 114,900 tonnes, even in less number of days than the previous month. The decline in monthly production could be attributed to closed or reduced production at some downstream aluminium processing plants due to the Chinese New Year Holiday during February 10-15. The share of aluminium liquid output fell by 6.1 per cent month-on-month but rose 1.6 per cent year-on-year to about 64.29 per cent. The domestic aluminium ingot output came in at around 1.19 million tonnes, up by 3.21 per cent...
Alba secures technology services from EGA for its Reduction Line 6 smelters
Aluminium Bahrain B.S.C. (Alba), one of the world’s largest aluminium smelters, has reportedly signed a Technology Services Agreement with Emirates Global Aluminium (EGA) for Reduction Line 6. The news came on Monday, March 11, after Alba’s CEO Ali Al Baqali and EGA’s CEO Abdulnasser Bin Kalban signed the agreement in the presence of top officials from both companies. As per the agreement, EGA will extend both onsite and remote assistance to Alba’s Reduction Line 6, providing technical services, monitoring services, and operational consultation. The agreement also covers operational and process audits, technical training workshops, and hands-on operation support. Alba’s Reduction Line 6 was commissioned in December 2018, and within a few years, it brought the company’s nameplate...
US 2023 full-year alumina imports slide down 29.3% Y-o-Y amid continued sequential growth in Q4
According to the US Census Bureau data, the United States alumina imports in the fourth quarter of 2023 amounted to 359,000 tonnes, experiencing a sequential rise of 4.06 per cent. The quarter-on-quarter growth continued from the second quarter of the year when imports grew by 2.79 per cent from 323,000 tonnes to 332,000 tonnes. In Q3, the imports further grew by 3.9 per cent to stand at 345,000 tonnes. However, despite the Q-o-Q growth, the US alumina imports in Q4 edged a sharp downfall year-on-year by 29.33 per cent from 508,000 tonnes. In the entire year of 2023, the United States alumina imports totalled 1.36 million tonnes, reflecting a plunge of 27.66 per cent from 1.88 million tonnes. Going by the data share by US Geological Survey, the United States alumina imports stood down in...
Sohar Aluminium appoints Matt Liddy as Business Development and Strategy Executive
On Sunday, March 10, Sohar Aluminium, the first aluminium smelter in the Sultanate of Oman, announced that it appointed Matt Liddy as its Business Development and Strategy Executive. Matt Liddy has joined Sohar with more than 30 years of worldwide experience in business development, smelters project development, systems improvement & support, carbon operations and industrial minerals. He also has immense experience in research & development, strategies and frameworks development, negotiation, and project studies. Before joining Sohar Aluminium, Mr Liddy was a Board Member of the company. He also worked with Rio Tinto Aluminium as a Vice President of Business Development in Kuala Lumpur, Malaysia, Brisbane, and Australia. Before that, he worked as a General Manager of Smelter Project...
LME aluminium benchmark price reflects a W-o-W rise of 1%; SHFE price sheds off US$11/t
LME aluminum opened at US$2,246.5 per tonne last Friday, March 8, with its high and low at US$2,267 per tonne and $2,233.50 per tonne, respectively, before closing at US$2,236 per tonne, down US$16 per tonne or 0.71 per cent. On Friday, the LME aluminium cash bid and LME aluminium official settlement price slightly dipped by US$1 per tonne to close the week at US$2,208.50 per tonne and US$2,209 per tonne, respectively, following a surge of 1.04 per cent on the previous day. On a week-on-week calculation, the LME aluminium benchmark price concluded on Friday at a higher rate of 1.17 per cent, shows the LME aluminium price chart on AL Circle . On Friday, amid the LME aluminium price drop, the 3-month bid price and 3-month offer price inched up by US$1 per tonne or US$1.50 per tonne,...
Hydro’s Mendubim solar plant comes into operation and begins supplying clean energy to Alunorte Alumina refinery
The 531 megawatt (MW) Mendubim solar project, constructed by Hydro Rein, Equinor, and Scatec, has reportedly started operations in Brazil, delivering electricity to the Alunorte Alumina refinery. In July 2022, Hydro Rein, Equinor, and Scatec formed a partnership and started constructing this solar project in Rio Grande do Norte, Brazil. In less than two years, the project will be completed and begin operations to provide alternative renewable energy solutions to sustainable industries. The head of Hydro Rein, Olivier Girardot, said: “We are thrilled to complete the first of Hydro Rein’s renewable energy projects in Brazil. Our mission is to develop renewable energy solutions for more sustainable industries, and Mendubim does just that. Most of the power output will go to Hydro’s alumina...
US crude and dried bauxite imports trend down further in 2023, standing a little above 2 Mt
According to US Geological Survey data, the United States crude and dried bauxite imports during the fourth quarter of 2023 amounted to 380,000 tonnes, reflecting a decline of 41.36 per cent over the quarter. The downtrend in quarterly imports continued from the third quarter, showcasing a drop of 11.59 per cent from 733,000 tonnes to 648,000 tonnes. Intermittently, in the second quarter of 2023, the United States crude and dried bauxite imports increased Q-o-Q by 58.66 per cent to stand at 733,000 tonnes, following a plunge of 38.97 per cent in the previous quarter to 462,000 tonnes. On a year-on-year basis, the US crude and dried bauxite imports in Q4 2023 slumped by 49.8 per cent from 757,000 to 380,000 tonnes. In the full-year 2023, the United States crude and dried bauxite imports...
China’s downstream aluminium companies operating rate reaches 60%, buoyed by production resumption post CNY
According to the Shanghai Metals Market, the operating rate of leading domestic aluminium downstream processing companies increased by 3.2 percentage points week-over-week to 60.2 per cent last week. However, annually, the operating rate fell by 2.8 percentage points. The W-o-W increase could be attributed to the recommencement of production and operations of downstream aluminium processing companies after the Chinese New Year Holiday. The secondary aluminium alloy operating rate also saw a significant rebound during the week, leading the production of large plants to pre-holiday levels. The industrial extrusion sector also resumed production but construction extrusion sector continued to remain in the traditional off-season. However, orders in both the secondary aluminium alloy sector...
