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.
Glencore and Hydro receive approval for Alunorte and Mineracão Rio do Norte (MRN) acquisition transactions
According to an update on Monday, November 20, Hydro and Glencore’s partnership over Alunorte and Mineracão Rio do Norte (MRN) acquisition has received unconditional approval from relevant competition authorities, including Brazil, China, Germany, and Austria. There remain no regulatory conditions pending to complete the transaction for the acquisition. As per the recent report, all the conditions have been approved, allowing Glencore to acquire a 30 per cent equity stake in Hydro’s Alunorte alumina refinery and Hydro’s 5 per cent ownership in the most prominent Brazilian bauxite producer Mineracão Rio do Norte (MRN). In addition, Glencore will acquire a 40 per cent stake in MRN, which is currently owned by Vale. As per the terms of the agreement, Hydro will first need to purchase the 40...
ASI certifies Shanghai Huafon Aluminium Corporation against Performance Standard Certification for its rolling processes
Aluminium Stewardship Initiative has reportedly granted Performance Standard V2 (2017) Certification to Shanghai Huafon Aluminium Corporation, recognising its manufacturing processes of casting, hot rolling, cold rolling, slitting and stamping at a plant in Jinshan District, Shanghai, China. The production facility has an annual capacity of 175,000 tonnes of rolled aluminium products, which are widely used for automotive, engineering machinery, power stations, air conditioning and battery housing. The ASI Performance Standard V2 (2017) defines environmental, social, and governance principles and criteria, aiming at addressing sustainability issues in the aluminium value chain. It sets forth 59 criteria under the three sustainability pillars of Environment, Social and Governance, which...
With over 6 Mt of output in October, world primary aluminium 2023 production is on track to grow annually
The world's primary aluminium production in October 2023 experienced a month-on-month rise after a fall in the previous month, found the International Aluminium Institute. Data shows the output recorded an increase of 3.29 per cent from 5.921 million tonnes in September to 6.116 million tonnes in October 2023. Last month, the world's primary aluminium production was 2.15 per cent less than 6.051 million tonnes in August. On a year-on-year basis, the global output in October edged a hike of 3.91 per cent from 5.886 million tonnes, according to IAI. The accumulated production volume of primary aluminium across the globe from January to October 2023 amounted to 58.592 million tonnes, up by 2.11 per cent from 57.381 million tonnes during the corresponding period of the previous year. In 2022,...
China’s aluminium billet inventories dropped W-o-W on Nov 16 despite a significant build-up in Nanchang
On Thursday, November 16, China’s aluminium billet inventories dropped by only 1,000 tonnes week-on-week to stand at 97,500 tonnes, according to the Shanghai Metals Market survey. The downfall occurred in Foshan, Wuxi, Changzhou, and Huzhou but was slightly offset by the hike in Nanchang. To know the status of China’s aluminium billet inventories in more details as of November 16, refer to the chart below: In Foshan, aluminium billet inventories on November 16 slipped by 2,400 tonnes week-on-week and 1,000 tonnes from Monday, November 13, to come in at 39,800 tonnes, found SMM. In Wuxi, the inventories stood at 20,400 tonnes on November 16, down by 1,300 tonnes from November 9 and 1,700 tonnes from November 13. Changzhou also saw a fall of 1,300 tonnes week-on-week to peg at 7,300 tonnes...
Israeli drone fires two missiles at an aluminium plant in Lebanon
On Saturday, November 18, Israel launched a drone firing two missiles at an aluminium plant outside the southern Lebanese market town of Nabatiyeh, which caused fire and widespread damage, according to National News Agency. The News Agency said that firefighters and ambulances rushed to the aluminium plant but did not mention the casualties of the strike that occurred around dawn. The drone targeted the aluminium plant on the Toul-Kfour road at 4 a.m. Israel, for the first time, targeted an industrial facility during the recent violence, reported Arab News. There was no immediate comment from the Israeli military related to the strike but did not say that the army is currently striking Hezbollah targets. Israel carried out the strike after Hezbollah attacked Israeli posts on Friday,...
US aluminium scrap exports to Malaysia record a 7% M-o-M drop in contrast to the hike in total exports
The world's second-largest aluminium scrap exporter, the United States, exported 26,400 tonnes of scrap to Malaysia in August 2023, down by 2,000 tonnes or 7.04 per cent month-on-month from 28,400 tonnes. On a year-on-year basis, the export in August 2023 edged a sharp fall of 43.34 per cent from 46,600 tonnes, according to the US Geological Survey. The United States aluminium scrap exports in August 2023 decreased month-on-month, following a hike of 20.85 per cent in the previous month from 23,500 tonnes to 28,400 tonnes. In the first eight months of 2023, the United States aluminium scrap exports to Malaysia totalled 244,000 tonnes, down by 5,000 tonnes or 2 per cent from 249,000 tonnes during the corresponding period of the last year. Malaysia is one of the leading aluminium...
Hind Aluminium’s net sales in Q2 FY2024 nosedived by 65.96% Y-o-Y
Hind Aluminium Industries Limited announced its second quarter financial results ended September 30, 2023, whereby it posted a plunge of 65.96 per cent in net sales year-on-year from INR 1.41 crore to INR 0.48 crore. However, on a quarter-on-quarter calculation, the net sales in Q2 registered an increase of 26.32 per cent from INR 0.38 crore. Hind Aluminium also reported that its net profit in Q2 FY2023-24 was INR 3.83 crore, down by 10.30 per cent year-on-year from INR 4.27 crore. The net profit also edged a quarter-on-quarter fall of 32.09 per cent from INR 5.64 crore, despite a quarterly growth in net sales. The fall in profit owes to weaker aluminium prices. The company’s earnings per share (EPS) decreased to INR 6.25 in the September quarter of 2023 from INR 6.67 last year. Hind...
October 2023 alumina production in China records a dip of 1.6% M-o-M due to poor ore supply
According to the Shanghai Metals Market, China’s metallurgical-grade alumina production stood at 6.842 million tonnes, down by 1.6 per cent month-on-month but up by 2.5 per cent year-on-year. Daily average output in the said month was 220,700 tonnes, down by 3,700 tonnes from the previous month. The decrease in China’s alumina output from the earlier month owes to a tight supply of bauxite in Guangxi and Henan, roasting maintenance, and production cuts due to carbon emission reduction policies in Shandong. However, the country’s cumulative production from January to October 2023 grew by 2 per cent year-on-year, reaching 66.264 million tonnes. By the end of October, China’s installed alumina capacity was 100 million tonnes, operating capacity 80.68 million tonnes, and operating rate 80.7...
Growing aluminium trade in North America leads associations to call for actions ahead of USMCA's mandated review in 2026
The Aluminum Association Instituto Mexicano del Aluminio (IMEDAL) and the Aluminium Association of Canada have reportedly written a letter to trade officials in Canada, Mexico, and the United States asking for continued tariff-free trade, increased import monitoring, and more vigorous trade enforcement. The letter arrived before a summit on November 15 in Mexico City, underpinning the past and future of the North American aluminium trading relationship. The letter stated, "For decades, our industries have relied on cross-border trade within the North American region to help make some of the world's highest quality and lowest carbon aluminium and aluminium products. Indeed, Canada and Mexico are the United States' first and second-largest aluminium trading partners, respectively. In 2022,...
Arab Aluminium Company posts 75% less profit for Jan-Sept 2023 than a year ago
Arab Aluminium Company (AAC), an Egypt-based company specialised in extruding aluminium profiles for architectural and industrial applications, announced its financial results for the first nine months of 2023 (ended September 30). According to Arab Aluminium’s financial indicators filed to the Egyptian Exchange (EGX) on November 12, the company’s net profit after tax decreased by 74.9 per cent year-on-year, amounting to EGP 4.911 million. During the corresponding period of the previous year, the company’s net profits after tax stood at EGP 19.587 million. Revenues fell 13.2 per cent year-on-year to EGP 252.965 million during January-September 2023, down by 13.22 per cent from EGP 291.494 million in the same period a year earlier. Arab Aluminium Company, established in 1976, has an...
ALRO’s net sales mark a fall of 7.7% in Q3 2023 despite a rise in primary & processed aluminium production
On Monday, November 13, ALRO S.A., one of Europe's largest vertically integrated aluminium producers by production capacity, announced its third quarter and the consolidated nine-month results of 2023. The Group reported its net sales of RON 682.8 million for Q3, down by 7.70 per cent from RON 739.8 million during the corresponding period of the previous year. The downward trend of the average 3-month LME aluminium price at US$2,200 per tonne in Q3 2023 compared to US$2,358 per tonne was responsible for the fall in net sales. In nine months of 2023, ALRO's consolidated sales amounted to RON 2.24 billion, experiencing a fall of 20 per cent from RON 2.8 billion a year ago. The demand for aluminium also demonstrated a weaker trend but was slightly offset by the Group's diversified products...
LME aluminium price sees a 0.68% rise to US$2,220.5/t; SHFE price grows slightly by US$4/t
LME aluminum opened at US$2,222.50 per tonne on Monday, with its low and high at US$2,203 per tonne and $2,235 per tonne, respectively, before closing at US$2,230 per tonne, up US$9 per tonne or 0.41 per cent. On Monday, November 13, the LME aluminium cash bid price and LME aluminium official settlement price started the week at US$2,220 per tonne and US$2,220.50 per tonne, respectively, flaunting a rise of US$15 per tonne or 0.68 per cent from US$2,205 per tonne and US$2,205.50 per tonne on November 10. The 3-month bid price and 3-month offer price amounted to US$2,222 per tonne and US$2,224 per tonne on November 13. December-24 bid price and December-24 offer price settled at US$2,340 per tonne and US$2,345 per tonne, respectively. The LME aluminium opening stock totalled 479,650...
China’s Oct 2023 aluminium output flaunts a 3.4% rise M-o-M; SMM projects a drop in November with production cut in Yunnan
According to the Shanghai Metals Market survey, China’s aluminium production in October 2023 (31 calendar days) amounted to 3.641 million tonnes, flaunting a month-on-month rise of 3.35 per cent from 3.523 million tonnes. On a year-on-year calculation, the output stood 6.7 per cent higher than 3.42 million tonnes. The cumulative production during January-October 2023 stood at 34.458 million tonnes, up 3.5 per cent from a prior year. The average daily output in October’23 was slightly higher at 117,500 tonnes compared to 117,400 tonnes a month ago. However, in October, there was a decrease in production among primary aluminium processing producers such as aluminium billet, while the proportion of aluminium ingot production increased, reducing the industry’s average molten aluminium share...
Century Aluminum posts an 11% Q-o-Q fall in net income on lower shipments and poor LME prices
Century Aluminum Company, a global primary aluminium producer with operations in the United States and Iceland, announced its third quarter results for 2023 last week, disclosing a fall of 10.97 per cent in net income attributable to Century stakeholders. Net income in Q3 2023 stood at US$13.8 million versus US$15.5 million in Q2 2023. The income fell due to lower shipments and poor aluminium prices on the London Metal Exchange. Century’s aluminium shipments in Q3 2023 were 171,995 tonnes, down by 0.95 per cent from 173,649 tonnes. Realised LME aluminium price was US$2,237 per tonne, down by $134 per tonne from the prior quarter. Century Aluminium’s net sales were recorded at US$545.2 million for Q3 2023, marking a fall of 5.26 per cent from US$575.5 million during Q2 2023. The company...
China’s A00 aluminium ingot price falls below RMB19000/t as an impact of inventory pressure
According to the Shanghai Metals Market, A00 aluminium ingot price has marked a decline for the third day in a row by RMB 280 per tonne to stand below RMB 19,000 per tonne as of Monday, November 13. Data shows the price has come in at RMB 18,850 per tonne, with average prices likely to range between RMB 18,830 per tonne and RMB 18,870 per tonne. The spot contract is expected to be traded at a discount price of RMB 70-30 per tonne. The inventory pressure is expected to cause spot discounts in East and Central China to persist. Only in South China, production curtailment in Yunnan may possibly shift spot discounts in South China into premiums in the future. Foshan, Wuxi, and Tianjan have also seen a plunge of RMB 280 per tonne in A00 aluminium ingot price at the beginning of the week to RMB...
Downstream recap: US starts anti-dumping probe into aluminium extrusion imports; China’s aluminium processing PMI declines 9.1%
The downstream aluminium industry witnessed some of the big shot events this week, such as the United States initiated anti-dumping investigation against 15 extruded aluminium product exporting countries, India’s Commerce and Industry Minister Piyush Goyal assured that no unfair carbon taxes could affect the domestic aluminium and steel industry, and Tianshan Aluminium Group conducted the first trial run of its 2# casting-rolling machine for the Shihezi Xinren battery aluminium foil project. The United States Department of Commerce commenced an anti-dumping investigation into aluminium extrusion imports from 15 countries, including Vietnam and Mexico. Mexico is the largest exporter of aluminium extrusions to the United States, accounting for US$660 million of US$3.19 billion of the US...
Century Aluminum reports power generation disruption at Jamalco refinery; suffers a loss of about US$22 million
Century Aluminum Company, the owner of Jamalco, said on Wednesday, November 8, that the malfunction of the power generation unit at the Clarendon-based refinery caused a loss of about US$22 million. Explaining the incident, president & CEO of Century Aluminum Jesse Gary said a power disruption resulted in an equipment failure at the refinery, which led to partial production for a portion of September and all of October. The loss translates to $3.4 billion in local currency. Jamalco expects to recover almost two-thirds of the total loss from insurance. Gary added that Century Aluminum had to fly in engineers from the manufacturer to address the cause of the incident and find a long-term solution. “The impact of the Jamalco equipment failure in the third quarter was approximately US$16.9...
Alba’s Q3 2023 profit records a sharp fall of 64% Y-o-Y despite higher sales volume; Poor LME prices are held responsible
Aluminium Bahrain B.S.C. (Alba) has announced its third quarter financial results for 2023, whereby it disclosed a profit of BD17.3 million ($46 million), down by 64 per cent from the last year due to poor LME prices and lower premiums. The company’s revenue also edged a fall Y-o-Y from BD403.2 million ($1.07 billion) to BD400 million ($1.06 billion). Alba also announced the comprehensive income for Q3 2023, which stood at BD20.7 million ($55.2 million) after experiencing a plunge of 64 per cent from BD58.2 million ($154.8 million) a year ago. The gross profit was BD48.6 million ($129.3 million), down by 38 per cent Y-o-Y from BD79 million ($210.2 million). The company reported basic and diluted earnings per share of fils 12 for Q3 2023 compared to fils 34 during the same period in 2022....
