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Downstream weekly recap: Capral Aluminium Chairman to retire in May; UK TRA reconsiders anti-dumping duties on Chinese aluminium extrusions
The downstream aluminium industry has created many notable headlines this week, from the retirement news of Capral Aluminium Chairman Rex Wood-Ward to UK TRA's reconsideration of anti-dumping duties on Chinese aluminium extrusions to many more. According to a report on February 28, Capral Aluminium Chairman Rex Wood-Ward announced that he would take his retirement at the conclusion of the company's Annual General Meeting on May 8, 2024. Mr Wood-Ward will depart the board after 15+ years of association with Capral Aluminium. He joined the company in 2008 as a non-executive Director and became Chairman in 2010. To know more: https://www.alcircle.com/news/capral-aluminium-chairman-rex-wood-ward-will-take-his-farewell-on-may-8-2024-109043 The UK Trade Remedies announced this week that it...
China Hongqiao Group’s subsidiary bags ASI Performance Standard Certification for producing aluminium ingot from scrap
On Friday, March 1, the Aluminium Stewardship Initiative announced that it successfully certified Shandong Hongqiao Scholz Circular Economy Science & Technology Co., Ltd., a subsidiary of China Hongqiao Group Co., Ltd., against Performance Standard V3 (2022) Certification. This certification is a testimony of the facility’s sustainable production of aluminium ingot and liquid metal by re-melting scrap. The plant’s pre-treatment and crushing lines currently dismantle 40,000 scrapped vehicles and produce 200,000 tonnes of recycled aluminium annually. The ASI Performance Standard V3 (2022) includes 11 principles and 62 criteria under three sustainable pillars – Environment, Social, and Governance – with the aim to address pressing sustainability issues in the aluminium value chain. China...
Vedanta Aluminium is on track to achieve 30% women employment goal by FY2025
On Friday, March 1, Vedanta Aluminium announced that it is very close to its goal of having 30 per cent female employees in the workforce. The company is hopeful of achieving this milestone by the end of FY2025, much ahead of the original timeline of 2030 set by Vedanta. CEO John Slaven said Vedanta Aluminium's current headcount is over 25,000, including direct and indirect employees, of which 22 per cent are women (direct employees). This indicates the company is on track to achieve 30 per cent of women employment in its payroll by the end of the next financial year. "The company is on track to achieve a ratio of 30 per cent women employees on its rolls by the end of FY25. Notably, the milestone is set to arrive five years sooner than the company's stated target of 2030, with women...
ASI awards Kobelco Group with Performance Standard Certification for making aluminium automotive rolled products
Aluminium Stewardship Initiative has certified Kobe Steel, Ltd. against Performance Standard V3 (2022) Certification for its subsidiary Kobelco Group’s facility Kobelco Automotive Aluminum Rolled Products (China) Co., Ltd., in Tianjin, China. The facility manufactures and supplies Series 5000 and 6000 lightweight aluminium alloy plate and strip products for the automotive industry. It has production lines for heat treatment, surface treatment, longitudinal cutting, cross-cutting, and auxiliary facilities. The plant has an annual output capacity of 100,000 tonnes of producing aluminium alloy automotive sheet metal. ASI Performance Standard V3 (2022) was launched in May 2022 after several rounds of revision over the years. It includes 11 principles and 62 criteria under three sustainability...
China’s alumina price drop causes no impact on primary aluminium price; A00 aluminium ingot price gains RMB100/t
According to the Shanghai Metals Market survey, the average alumina spot price has decreased by RMB 3 per tonne to begin the month of March at RMB 3,348 per tonne. In Shanxi, the price has shed off RMB 10 per tonne to come in at RMB 3,365 per tonne on March 1, 2024. The average prices are estimated to range between RMB 3,310-3,420 per tonne. A00 aluminium ingot price: Despite the drop in input cost, A00 aluminium ingot price has moved up by RMB 100 per tonne to close the week at RMB 18,960 per tonne. The average prices are expected to range between RMB 18,940-18,980 per tonne, with average prices likely to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. On a week-on-week basis, the primary aluminium ingot price has edged an increase of RMB 90 per...
Top 5 alumina producers that keep the China market ahead
China is the highest alumina producer, contributing around 58 per cent of the world’s output. According to the International Aluminium Institute survey, China produced 82.27 million tonnes of alumina in 2023, up by 3.15 per cent from 79.76 million tonnes in 2022. With this annual hike, China’s 2023 alumina output exceeded the pre-COVID level and further solidified its position as the world’s largest ore producer. As a consequence of the COVID-19 impacts, China’s alumina production decreased year-on-year in the previous three years by about 2 per cent but rebounded in 2023, surpassing 81.469 million tonnes of production in 2019. Advanced technologies like the Bayer-Lurgi combined process and dry bauxite digestion helped China optimise resource utilisation and boost production. By the end...
LME aluminium benchmark price closes at nearly 1% lower; SHFE price grows slightly US$3/t
LME aluminum opened at US$2,203.50 per tonne on Wednesday, February 28, with its high and low at US$2,203.50 per tonne and US$2,177 per tonne, respectively, before closing at US$2,191 per tonne, down 0.41 per cent. LME aluminium cash bid price shed off US$15.50 per tonne or 0.72 per cent to stand at US$2,129.50 per tonne, while LME aluminium official settlement price lost US$16 per tonne or 0.75 per cent to settle at US$2,130 per tonne. 3-month bid price and 3-month offer price shrank by US$18 per tonne and US$17.50 per tonne, respectively, to rest at US$2,180 per tonne and US$2,181 per tonne, respectively. December-25 bid price and December-25 offer price closed the day at US$2,398 per tonne and US$2,403 per tonne, respectively, down by US$15 per tonne from the previous day. LME...
World alumina production welcomes 2024 with an annual hike of 3.9%
World alumina production welcomed 2024 with a slight month-on-month dip of 0.22 per cent but a year-on-year rise of 3.9 per cent, found the International Aluminium Institute. According to the data revealed, world alumina production in January stood at 12.052 million tonnes compared to 12.078 million tonnes in December 2023 and 11.6 million tonnes in January 2023. The daily average output across the world was 388,800 tonnes in January, reflecting a drop of 0.21 per cent M-o-M aligned with the monthly production drop. On a year-on-year basis, world daily alumina output in January was 3.9 per cent higher than 374,200 tonnes. China produced 6.85 million tonnes (approx.) of alumina in January 2024, accounting for 56.84 per cent of the world’s production. On a month-on-month basis, China’s...
Capral Aluminium Chairman Rex Wood-Ward will take his farewell on May 8, 2024
According to a report on February 28, Capral Aluminium Chairman Rex Wood-Ward will retire from the board at the conclusion of the company's Annual General Meeting on May 8, 2024. The news came after Mr Wood-Ward announced his retirement, telling Australia's leading publication, Trailer Magazine, that he enjoyed his time immensely at Capral. "I've really enjoyed working and watching management take control of the business, while doing intelligent, game-changing things for it. They've really turned the business around, and we've built a solid base going forward," said Mr Rex. He also said that Capral is in a powerful position and will continue to grow. He added, "The Board and management are totally aligned with a very clear vision of where we're going." Mr Wood-Ward joined Capral in 2008...
UK TRA is reassessing its original anti-dumping duties on Chinese aluminium extrusions
On Tuesday, February 27, The UK Trade Remedies Authority announced that it reconsidered decisions concerning anti-dumping measures on aluminium extrusion imports from China. Of the two decisions, one is related to the recommendation of anti-dumping measures on certain Chinese aluminium extrusions, and the other is the final determination of whether to include large aluminium extrusions under the duties. The authority initiated reconsideration after receiving an application from a UK producer, which suggested that duties imposed are not up to the mark considering the injuries caused to domestic businesses and that the large extrusions should not have escaped the measures. During the anti-dumping investigation, the UK Trade Remedies Authority found that Chinese aluminium extrusion dumps put...
China’s A00 aluminium ingot price loses RMB20/t after an intermittent rise; Input costs display no change
According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has dropped by RMB 20 per tonne, following an intermittent rise of RMB 110 per tonne the previous day. Thus, on Wednesday, February 28, the A00 aluminium ingot price has come in at RMB 18,790 per tonne, with average prices ranging between RMB 18,770 per tonne and RMB 18,810 per tonne. The spot contract is likely to be traded at a discount price of RMB 50-10 per tonne. In Foshan, the domestic ingot price has decreased by RMB 40 per tonne to stand at RMB 18,830 per tonne, with average prices hovering around RMB 18,810-RMB 18,850 per tonne. In Wuxi, Hangzhou, Chongqing, and Shenyang, A00 aluminium ingot price has unanimously dropped by RMB 20 per tonne to stand at RMB 18,790 per tonne. In Tianjin and...
US eliminates Russian aluminium from its brand new sanctions list
The United States has reportedly ruled out Russian aluminium and nickel from its new set of sanctions, which made several roundups in the media since early February 2024. According to the latest report on Monday, February 26, the United States declared sanctions on more than 500 people and entities in Russia and eliminated base metals, including aluminium and nickel. In early February, there was speculation that the United States might impose a fresh wave of sanctions on Russian aluminium and nickel, following which the prices of the two metals rose, assuming limited supply would occur in the wake of sanctions. Source: Bloomberg Subsequently, the aluminium prices fell as the United States announced the exclusion of aluminium and nickel from its fresh sanctions list. On Friday, February...
Hind Aluminium in Q3 FY2024: Net profit surges by over 200% Y-o-Y despite continued net sales drop
On Tuesday, February 27, Hind Aluminium Industries Limited announced its consolidated quarterly results (October 1-December 31, 2023), explaining an in-depth comparison with the previous quarter and year. Hind Aluminium revealed its net sales in Q3 FY2023-24 stood at INR 0.14 crore, down 48.15 per cent from INR 0.27 crore during the corresponding period of the previous year. On a quarter-on-quarter calculation, the fall was more intense compared to the net sales of INR 0.48 crore in Q2 FY2024 . However, despite the fall in net sales, the company’s net profit skyrocketed by 204.98 per cent year-on-year from INR 2.01 crore to INR 6.13 crore in the third quarter of the ongoing financial year. On a quarter-on-quarter basis, the net profit increased by 60.05 per cent from INR 3.83 crore....
Aftermath of US aluminium and steel tariffs show up in Pennsylvania, economic distress at its peak
Pennsylvania, the fifth-most populous state in the United States, is reportedly facing economic distress due to inflation and unemployment. Strained global supply chains, labour shortages, and historic inflation outpacing income have been causing hurdles for the past few years. Role of aluminium & steel tariffs To top them off, the tariffs on aluminium and steel imports levied during the reign of US President Donald Trump under the guise of national security have caused bruises to end-use product manufacturers, given that Pennsylvania has robust product sectors heavily dependent on aluminium and steel as inputs. From farming equipment to auto parts, aluminium plays a significant role in their production. Many believe that federally imposed Section 232 tariffs on aluminium and steel have...
LME aluminium price hits a one-month low on inventory surge in Shanghai; SHFE price gains US$14/t
On Monday, February 26, LME aluminium opened at US$2,182 per tonne, with its high and low at US$2,195 per tonne and US$2,175 per tonne, respectively, before closing at US$2,182 per tonne, down 0.09 per cent. According to the LME data, LME aluminium cash bid price and LME aluminium official settlement price plunged for the third day in a row. Both the prices shrank by US$16.50 per tonne or 0.77 per cent to initiate the week at US$2,140 per tonne and US$2,140.50 per tonne, respectively. With this fall, the prices hit a one-month low on Monday, attributed to an inventory surge in Shanghai and the withdrawal of sanctions by the United States on Russian metal. On the same day, the 3-month bid price and 3-month offer price slipped by US$11.50 per tonne to come in at US$2,185 per tonne and...
Reynaers Aluminium joins ASI as a new Industrial User member
Last week, the Aluminium Stewardship Initiative announced the joining of Reynaers Aluminium, a European developer of aluminium products for the building sector, as a new Industrial User member. With its innovative range of aluminium products, Reynaers Aluminium offers comprehensive support to architects, fabricators, project developers, investors, and end users. Reynaers is a leading specialist in developing and marketing sustainable aluminium solutions for windows, doors, and facades. Reynaers’ key focus is to create energy-efficient architectural aluminium products to help its customers build a future-proof home. It constantly strives to increase the circularity level of building materials to enhance the lifespan of products it develops and improve environmental impact. On becoming an...
China’s A00 aluminium ingot price dumps RMB170/t over the weekend, standing at 2.2% lower M-o-M
On Monday, February 26, China’s domestic A00 aluminium ingot price shed off RMB 170 per tonne over the weekend to reach RMB 18,700 per tonne, found the Shanghai Metals Market data. The average prices are expected to range between RMB 18,680 per tonne and RMB 18,720 per tonne, with a spot contract to be traded at a discount price of RMB 50-10 per tonne. Compared to the same period last week , today’s domestic aluminium ingot price stands 0.64 per cent lower than 18,820 per tonne. Similarly, on a month-on-month basis, the price has registered a plunge of 2.2 per cent from RMB 19,120 per tonne. A00 aluminium ingot prices in Foshan and Hangzhou also declined by RMB 170 per tonne over the weekend to stand at RMB 18,790 per tonne and RMB 18,700 per tonne, respectively. In Gongyi and Wuxi, the...
Jan’24 World Vs GCC: Primary aluminium production ratio drops Y-o-Y despite a 1.3% growth in GCC’s output
In January 2024, the Gulf Cooperation Council produced 532,000 tonnes of primary aluminium compared to 530,000 tonnes in December 2023 and 525,000 tonnes in January 2023, found the International Aluminium Institute. Meaning, the output in January 2024 recorded a month-on-month growth of 2,000 tonnes or 0.38 per cent and a year-on-year hike of 7,000 tonnes or 1.33 per cent. The average daily production stood at 17,200 tonnes in January 2024 versus 17,100 tonnes in the previous month. On a year-on-year basis, the daily output increased by 1.78 per cent from 16,900 tonnes. According to the IAI data, the Gulf Cooperation Council's primary aluminium production in January 2024 accounted for 8.81 per cent of the world's total output. Compared to the same period last year, the Gulf countries'...
