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, Vedanta slashed their aluminium ingot prices by over 3% during May 10-12
Last week, both Hindalco and Vedanta back-to-back cut their aluminium prices on May 11 and 12 in response to the LME aluminium price fall of US$92 per tonne in just two days. However, the companies started the week on May 10 with a rise in their aluminium ingot prices by INR 3,000 per tonne and INR 4,500 per tonne, respectively, to INR 223,250 per tonne and INR 221,250-245,250 per tonne. Their aluminium wire rod and billet prices also experienced an increase of INR 3,000 per tonne and INR 4,500 per tonne, with effect from May 10, to stand at INR 235,250 per tonne and INR 229,750-237,250 per tonne. On May 11, Hindalco and Vedanta reduced their aluminium ingot price by INR 4,000 per tonne to INR 219,250 per tonne and INR 217,250-241,250 per tonne, respectively. The next day, they further...
Building & Construction will pave the path for aluminium extrusion growth at a CAGR of 5.9% till 2025
The increasing demand for lightweight vehicles has led to a significant growth of aluminium extrusions usage. The applications of aluminium extrusions know no bound in the transportation sector. From panels to engine blocks, roof rails to chassis of cars, aluminium extrusions are a part of the structural elements of lightweight vehicles. Also, owing to a high strength-to-weight ratio, aluminium extrusions are commonly used in lightweight vehicles. In addition, other key industries ramping up the consumption of aluminium extrusions include architecture & construction, electrical systems, and industrial. It is to be noted here that the building and construction sector is the major end-user of aluminium extrusions, followed by the transportation and industrial sector. World extrusion usage -...
China’s alumina production grows 5.4% in April’23, underpinned by Henan, Hebei, Guangxi, Shandong
China’s metallurgical-grade alumina production in April 2023 (30 calendar days) stood at 6.54 million tonnes compared to 6.64 million tonnes in March (31 calendar days), showed the Shanghai Metals Market survey. Hence, on a month-on-month calculation, China’s alumina output reflected a 1.5 per cent drop in April. But annually, the production grew by 5.4 per cent from 6.201 million tonnes. The daily output averaged 218,000 tonnes in April after dropping by 3,700 tonnes month-on-month from 214,300 tonnes and growing by 12,000 tonnes year-on-year from 206,000 tonnes. The installed capacity and operating capacity totalled 100.25 million tonnes and 79.5 million tonnes, respectively, with an average operating rate of 79.3 per cent. The average operating rate in Shanxi was 69.4 per cent in April...
EGA's CelestiAL solar aluminium is in use for MBRSC's most advanced commercial satellite
On Wednesday, May 17, Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, announced that it partnered with Gulf Extrusions and the Mohammed Bin Rashid Space Centre (MBRSC) to use CelestiAL solar aluminium in space. CelestiAL aluminium will be used in MBRSC's MBZ-SAT, the region's most advanced commercial satellite in the field of high-resolution satellite imagery, which is due to be launched in 2024. This partnership is a new milestone for the UAE's goal to become a leader in space exploration and for the 'Make it in the Emirates' programme, an initiative by the UAE Government to encourage companies to develop and manufacture products in the UAE, doubling the size of the industrial sector by 2031. In 2022, EGA hosted UAE...
Ma’aden buys 9.9% stake in Ivanhoe Electric and forms JV to undertake exploration programmes
Ma'aden, a Saudi state-owned mining company headquartered in Riyadh, is acquiring a 9.9 per cent stake in Vancouver's Ivanhoe Electric for $126.5 million. The news came on Tuesday, May 16, after Ma'aden announced signing an agreement with the American company. As per the deal, Ma'den is purchasing nearly 10.2 million common shares in Ivanhoe Electric (IE). Ma'aden also announced that it formed a 50/50 joint venture with IE to shoulder one of the most extensive exploration programmes. The JV will fund $66 million for exploration activities and buying three new-generation Typhoon machines. The agreement makes Ma'aden eligible to access IE's Typhoon geophysical survey technology to explore Saudi Arabia's lands that hold $1.3 trillion of untapped minerals. Ma'aden and IE will explore at least...
Mexico’s aluminium crude metals and alloys imports from US rise 26% in the first two months of 2023
Mexico imported 13,400 tonnes of aluminium crude metals and alloys from the United States in February 2023, according to the US Geological Survey. The import volume was 4.29 per cent or 600 tonnes fewer month-on-month than 14,000 tonnes but reflected a rise of 16.52 per cent from 11,500 tonnes a year ago. In the first two months of 2023, Mexico’s aluminium crude metals and alloys imports from the US totalled 27,400 tonnes, up by 26.27 per cent from 21,700 tonnes during the same period of the previous year. Mexico continued to be the highest importer of the United States’ aluminium crude metals and alloys in February 2023, followed by Malaysia, importing 10,200 tonnes of metal. On a month-on-month calculation, Malaysia’s imports edged an increase of 35.46 per cent from 7,530 tonnes. The...
Dong-IL Aluminium Co. is adding 3 new rolling mills to accelerate foil production for EV batteries
The leading South Korean aluminium foil producer, Dong-IL Aluminium Co., has reportedly accelerated its production capacity to cater to the ever-growing demand in the electric vehicle (EV) sector, especially in the United States and Europe. The company will supply more aluminium foil to local EV battery makers. Dong-IL Aluminium has recently announced that it is adding three new rolling mills to the existing five at its Cheongju plant by 2025, aiming to become the largest foil producer in Korea. Each rolling mill can produce 350,000 units of aluminium foil for EVs in a year. “Demand for the high quality of aluminum foil has explosively grown as EV makers have been in a hurry to obtain batteries with both higher safety and energy density to offer longer driving ranges,” Park Chan Gyu, the...
Plan your visit to the 13th International Aluminum Extrusion Technology Seminar on April 30 - May 2, 2024
Book your calendar in advance for the Thirteenth International Aluminum Extrusion Technology Seminar & Exposition, to be held on April 30 - May 2, 2024, at Rosen Shingle Creek, Orlando, United States. If you wish to explore potential business opportunities or expand networkingin the aluminium extrusion sector, then this event is sure to serve you an ideal platform. Aluminium extrusion industry professionals from more than 50 countries will attend the seminar. The event will feature over 100 technical sessions, an exposition featuring products, equipment, and services from industry suppliers, networking events and much more! This premier seminar aims to bring together the thought leaders, decision-makers and top executives from the aluminium extrusion industry for a powerful 3-day event...
China’s aluminium production in April’23 dips 1% M-o-M due to ongoing production cuts in Yunnan
According to the National Bureau of Statistics, China's aluminium production in April 2023 (30 calendar days) fell 1.2 per cent month-on-month at 3.33 million tonnes. In March 2023 (31 calendar days), the output was 3.37 million tonnes, which brought the Q1 production to 9.8 million tonnes. In the first four months of 2023, China produced 13.3 million tonnes of aluminium compared to 13.01 million tonnes during the same period last year. That reflected a year-on-year increase of 2.23 per cent. China's monthly production fall in April '23 could be attributed to the ongoing production cut issues in Yunnan province, China's fourth biggest aluminium-producing province, accounting for 12 per cent of China's total capacity. As per the reports, lower production in Yunnan is not yet being...
Vedanta strives to meet aluminium demand in sunrise sectors by enhancing its product lines
Vedanta Aluminium is reportedly increasing production at its smelters in Jharsuguda (Odisha) and Korba (Chhattisgarh) to widen its product lines and diversify product mix to cater to sunrise sectors like high-tech manufacturing, electric vehicles, green building, renewable energy, and battery technologies. The company is committed to meeting the growing demand for aluminium with its indigenously produced aluminium products for the engineering and technology sectors. Vedanta Aluminium is a well-known player in the value-added aluminium product market. It produces more than half of India’s aluminium. In FY2023-23 ended March 31, Vedanta’s aluminium production totalled 2.29 million tonnes. “The world seeks to transition to a low-carbon future, one that is undoubtedly going to be metal...
Alumina production in Europe (incl. Russia) posts a monthly recovery in March’23 to stand at 558,000 tonnes
According to the International Aluminium Institute, alumina production in Europe (including Russia) surged by 13.41 per cent or 66,000 tonnes month-on-month during March 2023 to reach 558,000 tonnes. In February, the output stood at 492,000 tonnes, descending by 4.84 per cent from 517,000 tonnes. On a year-on-year basis, Europe’s (including Russia) alumina production in March 2023 reflected a plunge of 27.44 per cent from 769,000 tonnes. In the first quarter of 2023 ended March 31, alumina output in Europe totalled 1.567 million tonnes, registering a 9 per cent fall from 1.722 million tonnes in Q4 2022 and a slump of 35.50 per cent from 2.430 million tonnes during the same period last year. The daily average alumina production in Europe stood at 18,000 tonnes during March 2023 – 400...
Novelis posts a 35% plunge in net income from continuing operations for FY2023 owing to weaker shipments
Novelis, the world’s leading flat-rolled aluminium producer and aluminium recycler, announced its fourth quarter and full year results of FY2022-23 ended March 31. The company noted that its net income attributable to common shareholders in Q4 FY2023 was $156 million, down by 27 per cent from $215 million a year ago. In the full fiscal year, the income amounted to $658 million, reflecting a Y-o-Y plunge of 31 per cent from $954 million. Novelis’ net income from continuing operations in Q4 FY23 also stood at $156 million, reflecting a fall of 28 per cent Y-o-Y from $217 million. In the full year, the company earned $659 million as net income from continuing operations compared to $1,018 million in FY2022. Adjusted EBITDA was recorded at $403 million in Q4 FY2023, down by 6.50 per cent from...
Primary aluminium production across Europe reflects 10% monthly hike in March 2023: IAI
In Russia & Eastern Europe, primary aluminium production during March 2023 stood at 343,000 tonnes, reflecting an increase of 10.65 per cent or 33,000 tonnes month-on-month from 310,000 tonnes. Russia & Eastern Europe witnessed a hike in March following M-o-M downfall of 9.88 per cent in the previous month from 344,000 tonnes, showed the International Aluminium Institute. However, on a year-on-year calculation, Russia & Eastern Europe’s primary aluminium production in March’23 edged a fall of 7,000 tonnes or 2 per cent from 350,000 tonnes. During the first quarter of 2023, ended March 31, primary aluminium production in Russia & Eastern Europe amounted to 997,000 tonnes, down by 2.25 per cent from 1.02 million tonnes in Q4 2022 ended December 31. On an annual basis, Russia & Eastern...
Hydro Rein to develop two new solar projects in Sweden, aiming for sustainable industry in Nordic country
According to a report on Tuesday, May 9, Hydro Rein has signed a contract with GreenGo Energy to purchase and develop two early-phase solar projects in Southern Sweden. The projects are in area SE4, with an estimated combined peak capacity of 118 MW. The land lease agreements have already been signed, and the construction is expected to begin in 2027. As per the agreement, GreenGo Energy will develop the projects, while Hydro Rein will lead contractual setup and other services like structuring, route to market, construction and operations. Hydro will get 100 per cent ownership of the projects upon the completion of the acquisition. The solar projects are estimated to generate 143 GWh of power. Site assessments of the projects are currently under process, and interconnection requests to...
China’s aluminium smelters operating rates record strong in March’23, credit goes to 20.65 MT of installed capacity
According to the Shanghai Metals Market survey, China’s aluminium smelters operating rates in primary production hubs, including Shandong, Xinjiang, and Inner Mongolia, stood robust in March 2023. The amalgamated installed aluminium capacity in these three provinces was 20.65 million tonnes, nearly half of China’s total. As of April 20, China witnessed 930,000 tonnes of aluminium capacity resumption and 212,000 tonnes of newly commissioned. Combining the two, China had an aluminium capacity of 1.14 million tonnes, which could almost negate the effects of the 1.2 million tonnes of aluminium capacity cut. China’s aluminium production in March (31 calendar days) also showed an improvement of 10.35 per cent M-o-M from 3.09 million tonnes to 3.41 million tonnes. Total output in the first...
India boosts aluminium export activities in March'23, with semi-finished products growing 8% M-o-M
India’s aluminium scrap, finished and semi-finished products exports in March 2023 reflected month-on-year and year-on-year growth of 11 per cent and 15 per cent, respectively, to reach 213,960 tonnes. A month ago, India exported 193,214 tonnes of aluminium and a year earlier, the country shipped 185,687 tonnes. Turkey was the largest importer from India in March as the former relies heavily on imports for having minimal domestic production. Turkey hauled 31,224 tonnes in March, followed by the Netherlands importing 30,288 tonnes and South Korea 22,326 tonnes. India’s exports of aluminium semi-finished products in the said month were 180,394 tonnes, up by 8 per cent M-o-M from 166,308 tonnes. Of the total semi-finished exports in March, aluminium ingots accounted for 146,040 tonnes,...
Century Aluminium announces robust Q1 2023 results, with net loss improving 75% Q-o-Q
Century Aluminium, a US-based primary aluminium producer with smelters in Kentucky, South Carolina, and Iceland, announced its first quarter 2023 financial and operational results on Monday, May 8, 2023. The company released that its net sales increased by 4.25 per cent quarter-on-quarter from $529.9 million to $552.4 million, in line with the growth in shipments by 11,694 tonnes. According to the data revealed, shipments in Q1 2023 hiked from 169,471 tonnes to 181,165 tonnes, sequentially. Century reported a net loss of $38.6 million for Q1 2023, improved by $74.9 million from the previous quarter. The company’s finances were affected by $27.3 million of net exceptional items, in particular $47.8 million of unrealized losses on derivative instruments, and $5.4 million in curtailment...
Zurich Cantonal Bank sheds off 29% shares in Kaiser Aluminium
According to a report on Monday, May 8, Zurich Cantonal Bank reduced its shareholding in Kaiser Aluminium Co. by 28.8 per cent in the fourth quarter. As per the disclosure with the Securities and Exchange Commission, the bank shed off 743 shares during the said quarter and owned 1,835 shares of Kaiser worth $139,000. Other hedge funds and institutional investors also recently bought and sold shares of Kaiser Aluminium. National Bank of Canada FI acquired new shares in Kaiser Aluminium worth $58,000 and Point72 Hong Kong Ltd bought a stake of nearly $80,000. Captrust Financial Advisors increased its shares by 76.1 per cent, owning 1,016 shares worth $96,000. Public Employees Retirement System of Ohio grew its position in Kaiser Aluminium by 14.2 per cent by purchasing 206 new shares. The...
