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.
Hydro resumes tender offer process for Alumetal acquisition, aims to widen aluminium scrap-based product range
Norsk Hydro has restarted working on a tender offer process to complete the acquisition of the 100 per cent share of Polish recycler Alumetal S.A. The tender offer was first launched in April 2022 but expired in the meantime. The European Commission’s merger review of the transaction is pending, and now the deadline is May 23, 2023. “The acquisition of Alumetal would be a strong strategic fit towards delivering on Hydro’s recycling strategy. We see a growing demand for recycled low-carbon aluminum in Europe. Forward leaning customers are leading the way in decarbonizing materials used in the production of automotive, building and construction, and consumer durables,” said Executive Vice President Eivind Kallevik, Head of Hydro Aluminium Metal. Acquiring a recycler will strengthen Hydro’s...
China’s primary aluminium inventories continue to fall W-o-W by 53,000 tonnes, majorly contributed by Wuxi
According to the Shanghai Metals Market survey, social inventories of primary aluminium ingot across eight major consumption areas, including SHFE warrants, stood at 853,000 tonnes on Thursday, April 27, experiencing a plunge of 53,000 tonnes week-on-week from 906,000 tonnes. Compared to Monday, April 24, the inventories decreased by 32,000 tonnes from 885,000 tonnes. Hence, at the end of April 2023, the inventory declined by 235,000 tonnes through the month. The destocking was mainly due to fewer cargo arrivals. Also, the increasing share of molten aluminium being cast into intermediate products or sold to downstream plants nearby caused less shipment to major markets, resulting in the downfall of inventories. However, it has been noticed that the weekly decline of inventories has slowed...
US aluminium scrap exports remain consistent in Feb’23 at 159,000 tonnes: USGS
In February 2023, the United States exported 159,000 tonnes of aluminium scrap, almost consistent compared to 160,000 tonnes in January, found the US Census Bureau data. On a year-on-year calculation, the export volume jumped 358 per cent from 34,700 tonnes. In the first two months of 2023, the United States’ scrap exports totalled 319,000 tonnes, up by 375 per cent from 67,100 tonnes during the corresponding period of the previous year. India, one of the leading destinations of the United States scrap exports, hauled 31,000 tonnes in February 2023 compared to 29,300 tonnes in January. As per the USGS data, the United States exports to India grew both month-on-month and year-on-year. On a monthly basis, the export to India rose 5.8 per cent, and on an annual calculation, it leaped 167 per...
Alcoa reports consistent revenue earning at $2,670 million for 1Q2023, as higher aluminium price offset reduced shipment
Alcoa Corporation, the world’s eighth largest producer of aluminium, announced the first quarter 2023 results, reporting steady revenue earning at $2,670 million compared to $2,663 million in the previous quarter, attributed to the 8 per cent increase in average-realized third-party alumina price and 7 per cent in aluminium price. However, on a year-on-year calculation, the revenue decreased by 18.92 per cent from $3,293 million, as higher prices were partially offset by reduced shipments. In the alumina segment, third-party shipments dwindled by 13 per cent sequentially due to lower production, especially at the Kwinana refinery in Australia and San Ciprián in Spain, caused by the lack of natural gas supply. Third-party aluminium shipments fell 6 per cent Q-o-Q due to fewer trading...
Alcoa brings force majeure to an end for its Western Australian alumina operation
According to an S&P Global Commodity Insights report on Wednesday, April 26, Alcoa has withdrawn the force majeure for its Western Australian alumina business. The news came after Alcoa spokesperson confirmed the matter. But before that, there was hearsay in the market regarding the force majeure lift from several sources as early as April 21. Alcoa first notified of the force majeure to its alumina customers in January 2023, resulting from the impact of lower natural gas supply in Western Australia, cutting about 30 per cent of output at the Kwinana alumina refinery . Per the company’s 1Q2023 results, Kwinana refinery was being operated at 20 per cent or 438,000 tonnes per year less capacity as of March 31, as one of the five digesters remained offline. Although the gas supply situation...
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ASI certifies Vedanta's SEZ aluminium smelting facility against Performance Standard V2 (2017)
On Wednesday, April 26, Aluminium Stewardship Initiative announced that it successfully certified Vedanta’s aluminium smelter and captive power plant located in the Special Economic Zone (SEZ), Jharsuguda, against Performance Standard V2 (2017) certification. The certification acknowledges Vedanta’s manufacture and supply of primary aluminium in the form of billets, wire rods, ingot, sow ingot, and primary foundry alloys (PFA). ASI has also certified Vedanta’s Restora brand of low-carbon aluminium products against the Performance Standard. Vedanta is the largest producer of primary aluminium in India. The ASI Performance Standard V2 (2017) certification defines environmental, social and governance principles and criteria to address sustainability issues in the aluminium value chain. Mr...
Update: Century Aluminium pays US$1 to acquire a major part of Jamalco; Full transaction price is a mystery
In line with the report published last day that Century Aluminium agreed to buy a 55 per cent stake in Jamalco, the US-based primary aluminium producer signed a purchase contract with Noble Group Holdings Limited for US$1. The deal is expected to close by the end of April 2023, but the full transaction price is unknown. This update was published after Century said in filings, “A wholly owned subsidiary of Century will acquire General Alumina Holdings Limited, a Noble subsidiary and owner of Noble’s 55 per cent interest in Jamalco, for US$1. The transaction is expected to close by the end of April 2023.” Although the deal price is not explained, it implies the transaction may have cleared Noble of liabilities for Jamalco going forward. The Hong Kong-based commodity trader Noble acquired a...
China’s A00 aluminium ingot price shrinks by RMB180/t to close at RMB18570/t; Alumina price again loses RMB1/t
According to the Shanghai Metals Market, China’s A00 aluminium ingot price has slumped by RMB 180 per tonne on Thursday, April 27, to stand at RMB 18,570 per tonne, marking a downtrend for almost a week. Hence, on a week-on-week calculation, the price is down by RMB 570 per tonne or 2.83 per cent from RMB 19,110 per tonne. The average prices are estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne, with a spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. In Foshan and Chongqing, A00 aluminium ingot price has plunged by RMB 190 per tonne to peg at RMB 18,680 per tonne, followed by the downfall of RMB 175 per tonne in Wuxi to rest at RMB 18,565 per tonne. In Gongyi and Shenyang, the primary aluminium ingot price...
Africa’s primary aluminium production falls 3.2% Q-o-Q during 1Q2023 amid monthly rise in March
According to the International Aluminium Institute, Africa’s primary aluminium production during the first quarter of 2023 ended March 31, stood at 392,000 tonnes, down by 3.21 per cent or 13,000 tonnes from 405,000 tonnes during Q4 2022. On a year-on-year basis, the output edged a drop of 1.26 per cent from 397,000 tonnes. However, Africa’s monthly output in March stood 8,000 tonnes or 6.50 per cent higher than 123,000 tonnes in February at 131,000 tonnes, but fell 6,000 tonnes or 4.38 per cent from 137,000 tonnes a year ago. On the other hand, Africa’s average daily output in March 2023 recorded a fall month-on-month from 4,400 tonnes to 4,200 tonnes. On an annual basis, the daily out in March also dropped from 4,400 tonnes. The world’s primary aluminium production in March 2023 was...
Century Aluminium signs agreement to acquire 55% stake in Jamalco, set to secure alumina supply
On Tuesday, April 25, Century Aluminum Company announced a significant step towards acquiring a sizeable share in a joint Jamaican bauxite mining and alumina production venture. The company has reportedly signed an agreement with Noble Group Holdings Limited (Noble) to obtain 55 per cent of its ownership in Jamalco. According to the agreement signed, a wholly-owned subsidiary of Century Aluminum will acquire General Alumina Holdings Limited, a Noble subsidiary and owner of Noble’s 55 per cent interest in Jamalco. The transaction is likely to close by April-end 2023. Century’s investment in Jamalco will prove to be highly strategic, helping the company secure a long-term alumina supply chain, the most critical raw material for aluminium production. Jesse Gary, President and CEO of Century,...
Vedanta Aluminium starts new material recovery facility in Jharsuguda, a step towards Zero Waste & Circular Economy
Vedanta Aluminium has achieved a new sustainability milestone by deploying a new material recovery facility at its operations in Jharsuguda district, Odisha. This marks a significant step towards the company’s ‘Zero Waste’ goal, resulting in energy savings and carbon emissions mitigation. Vedanta unveiled the new facility on Saturday, April 22, to commemorate Earth Day. The facility segregates and processes waste into useful materials. In March 2023, it processed 27,828 kg of dry and wet waste, and generated recyclable materials like bio-compost and briquettes, which are mainly useful for horticulture activities. Any non-recyclable waste materials Vedanta sends to cement industries for co-processing, promoting a circular economy within India’s manufacturing landscape. The material...
LME aluminium benchmark price trends down 3.67% W-o-W to US$2313/t; SHFE price declines by US$22/t overnight
Three-month LME aluminium opened at US$2,381 per tonne on Tuesday and closed at US$2,331 per tonne, down 2.1 per cent. On Tuesday, April 25, the LME aluminium cash bid price plunged by US$42 per tonne to US$2,312 per tonne, and LME aluminium official settlement price declined by US$41.50 per tonne to peg at US$2,313 per tonne, marking the third consecutive day of fall. The continuous downfall through the previous week has brought the LME aluminium benchmark price 3.67 per cent lower than US$2,401 per tonne on last Tuesday . The 3-month bid price and 3-month offer price contracted by US$41 per tonne or 1.73 per cent to settle at US$2331.50 per tonne and US$2,332 per tonne. December 24 bid price and December 24 offer price shrank by US$35 per tonne to stand at US$2,505 per tonne and...
US primary aluminium production plummets by 21% Y-o-Y during Feb’23
According to the US Census Bureau data, domestic primary aluminium production in February 2023 was 59,000 tonnes, reflecting a decline of 5,000 tonnes or 7.81 per cent month-on-month. In January, the US primary aluminium output was 64,000 tonnes, muted from the previous month. On a year-on-year basis, the US primary aluminium output stood 16,000 tonnes or 21.33 per cent lower than 75,000 tonnes. In two months of 2023, the United States produced 123,000 tonnes of primary metal, 21.66 per cent down from 157,000 tonnes during the corresponding period of the previous year. The average daily production in February 2023 was 1,900 tonnes – 10 per cent less than 2,050 tonnes in January'23 and 28.84 per cent down from 2,670 tonnes in February'22. Total aluminium recovered from scrap was 274,000...
South32 on track to meet production guidance for the year ending in June; aluminium output till Q3 records 15% growth
According to a report published on Monday, April 24, South32, a leading mining and metals company headquartered in Perth, is close to meeting production guidance across most of its operations for the financial year to end June 30, 2023. However, the company’s share price dropped nearly 6 per cent to INR 50.17 on the Johannesburg Stock Exchange soon after the announcement of the third quarter (end-March) results. Regarding this, CEO Graham Kerr commented that production in the said quarter stood lower than anticipated because of adverse weather in Mozambique and Australia. Kerr also apprised that operating unit cost guidance for the year has remained unchanged alongside the group capital expenditure. He said “improved market conditions supported higher prices across most of our commodity’s...
China's A00 aluminium ingot price declines for the third day by RMB70/t despite continued inventory fall
According to the Shanghai Metals Market data, A00 aluminium ingot price has fallen for the third day despite sluggish primary aluminium inventories across China. Then what could be the reason behind the price fall? Well, weaker metal consumption by downstream producers could be a factor for the decline in price. On Tuesday, April 25, the primary aluminium ingot price has dwindled by RMB 70 per tonne to peg at RMB 18,830 per tonne. The average prices are estimated to range between RMB 18,810 per tonne and RMB 18,850 per tonne, with a spot contract to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne. On a week-on-week basis, the price is down by RMB 30 per tonne from RMB 18,860 per tonne. But on a month-on-month calculation, the price reflects the...
World’s primary aluminium production improves 2% Y-o-Y during 1Q2023 amid muted output in March
According to the International Aluminium Institute, the world's primary aluminium production in March 2023 stood at 5.772 miilion tonnes, bringing the total output in the first quarter to 16.895 million tonnes. The monthly production in March increased by 9.63 per cent from 5.265 million tonnes in February but remained almost restrained compared to 5.774 million tonnes a year ago. The output in Q1 2023 registered a fall of 2.89 per cent from 17.397 million tonnes in Q4 2022 and an increase of 2.23 per cent from 16.527 million tonnes in Q1 2022. IAI data also showed the world daily average primary aluminium production in March amounted to 186,200 tonnes, down by 0.96 per cent month-on-month from 188,000 tonnes and up by 0.50 per cent year-on-year from 185,300 tonnes. In Q1, daily average...
Oetinger Aluminium GmbH represents Europe as the first recipient of ASI CoC Standard V2 (2022) Certification
Oetinger Aluminium GmbH, a leading producer and supplier of casting alloy ingots, has obtained ASI Chain of Custody (CoC) Standard V2 (2022) Certification for the Weißenhorn and Neu-Ulm production sites in Germany. Oetinger, thus, represents the first entity in Europe to have received the updated CoC Standard V2, launched in May 2022. The two sites produce nearly 180,000 tonnes per year of aluminium casting alloys in solid (ingots) and liquid form (tankers). A year ago, Oetinger Aluminium had bagged ASI Performance Standard Certification with Provisional Status for the production of casting alloys from scrap and recycled materials. The independent third-party audit for the current certification was carried out by GUTcert (AFNOR Group). On receiving another ASI certification, Lubomir...
Taiwan’s Astro Tech is bringing robotised aluminium and carbon frame production into the homeland
Taiwan’s premium frame builder Astro Tech has reportedly confirmed that it is building a new facility in Changhua, Taiwan, for producing mass-scale carbon frames alongside automated aluminium frames. Astro Tech Co. Ltd. general manager Samuel Hu has reported to Bike Europe that they will deploy a foaming process instead of injection to produce the thermostatic carbon frames. Hence, the process will rely more on automation, employing robots from Taiwan and Japan. This fully-automated facility will enable the company to compensate for local labour shortage. “I am sure that we will only be able to compensate for our local labor shortage with automation,” stated Hu. Once we have this fully automated production, we can take it wherever we want – even to Europe.” Since 2000, Astro Tech has been...
