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.
Century Aluminum reports an 87% hike in annual net sales for FY2022 amid sluggish shipment volume
On February 23, Century Aluminum declared its financial results ended December 31, 2022, revealing an increase in annual net sales by 87.45 per cent from US$2,212.50 million in FY21 to US$2,777.30 million in FY2022. But that during Q4 2022 stood down by 16.84 per cent at US$529.9 million versus US$637.2 million in Q4 FY21. Century’s annual net sales increased in FY22 despite the downfall in shipments by 14,956 tonnes Y-o-Y from 783,637 tonnes to 768,691 tonnes. In Q4, the shipments stood at 169,471 tonnes, down by 2.45 per cent from 173,725 tonnes. Thus, the rise in net sales could be attributed to inflation and the LME aluminum global price hike. But due to the plunge in the metal price towards the end of the year, Century’s net sales in Q4 recorded a fall. Century posted a higher net...
LME aluminium benchmark price slumps by US$61.50/t over the weekend; SHFE price moves down to US$2642/t
Three-month LME aluminium opened at US$2,389.50 per tonne last Friday and closed at US$2,642 per tonne, a decrease of US$47.50 per tonne or 1.99 per cent. On Friday, February 24, the LME aluminium benchmark price contracted significantly, marking the third consecutive fall. While the LME aluminium cash bid price nosedived by US$63 per tonne to close the week at US$2,305 per tonne, the LME aluminium official settlement price plummeted by US$61.50 per tonne to settle at US$2,307 per tonne. 3-month bid price and 3-month offer price also registered a sharp fall of US$52.50 per tonne and US$52 per tonne, respectively, to come in at US$2,355 per tonne and US$2,356 per tonne. December 24 bid price and December 24 offer price slipped by US$27 per tonne from the previous day to peg at US$2,558 per...
NALCO increases its aluminium ingot price by INR1600/t with effect from February 23
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices, with effect from Thursday, February 23, after several cuts since February 7, 2023. This week, the company has lifted its aluminium ingot price by INR 1,600 per tonne to INR 228,150-231,650 per tonne versus INR 226,550-230,050 per tonne on February 16. NALCO’s aluminium wire rod price has also seen an increase of INR 1,600 per tonne to INR 232,650-237,000 per tonne, following a cut a week ago to INR 231,050 -235,400 per tonne. Aluminium billets price stands at INR 232,600-235,250 per tonne, compared to INR 231,000-233,650 per tonne. NALCO links its alumiium ingot and aluminium products prices to the three month of futures of aluminium on the London Metal Exchange, which surged by...
Constellium reports a 31% hike in annual revenue despite sluggish shipments in CY2022, thanks to robust metal prices
On Wednesday, February 22, Constellium SE, a global leader in developing, manufacturing, and recycling aluminium products, announced the fourth quarter and full-year results ended December 31, 2022. The company reported its revenue grew by 8 per cent year-on-year to €1.8 billion in Q4 2022, bringing the revenue of the entire year to €8.1 billion versus €6.2 billion. The revenue increased in CY2022 despite a stagnant volume of annual shipments at 1.6 million tonnes. Shipments in Q4 2022 contracted 4.42 per cent Y-o-Y from 385,000 tonnes to 368,000 tonnes. So, the revenue grew last year backed on the global aluminium price hike. Constellium also revealed its net income amounted to €30 million in Q4 2022 compared to €7 million during the same period in 2021. The company’s net income in the...
Alstom and Medha also join the race to acquire 100 aluminium trainsets contract for Vande Bharat
Two leading mobility solution providers and rolling stock giants from two different parts of the world, Alstom and Medha Servo Drives, have reportedly participated in bidding to manufacture 100 lightweight Vande Bharat trainsets. While Alstom is the only bidder among the five contenders not partnered with any one, Medha has teamed with a Swiss company Stadler Rail. The other three contenders are Siemens of Germany with BEML, Russian Transmashholding with Rail Vikas Nigam Limited, and Titagarh Wagons with Bharat Heavy Electricals Limited (BHEL). Aluminium will replace steel in the coaches for the first time in the Indian Railways, making the trains lighter and more energy efficient. “This will usher in a new era of travel in India with lighter and more energy efficient aluminium trains...
China’s A00 aluminium ingot price loses RMB140/t on wavering consumption by downstream: SMM
According to the Shanghai Metals Market, China's domestic A00 aluminium ingot price has suffered a loss of RMB 140 per tonne on Friday, February 24, after displaying restraint for the past two consecutive days. SMM data shows the price has come in at RMB 18,480 per tonne, standing W-o-W high by RMB 20 per tonne. The average prices are estimated to range between RMB 18,460 per tonne and RMB 18,500 per tonne today, with a spot contract likely to trade at a discount price of RMB 130-90 per tonne. Muted consumption of the metal, rising inventory, and overseas interest rate hikes together contributed to the poor price trend. Generally speaking, it is currently in the process of transitioning from low to peak season. In Wuxi, Hangzhou, and Shenyang, China’s domestic A00 aluminium ingot price...
ASI welcomes India’s pioneer aluminium extrusion manufacturer as a new Production & Transformation member
On Tuesday, February 21, Aluminium Stewardship Initiative announced it welcomed Hindalco Alupram Works, an aluminium extrusion manufacturing plant in Ernakulum District of Kerala, as a new Production and Transformation member. The plant is equipped with two extrusion presses, of which one was installed in 1955 with an initial capacity of 1,250 tonnes and the other in 1961 with a capacity of 3,300 tonnes. Alupram Works currently has a production capacity of 12,000 tonnes per annum, with both presses together. The major raw material used in the extrusion process is aluminium billets and Die steel. Its Die shop has a production capacity of manufacturing 720 dies per annum, offering the widest range of shapes and alloys. Depending on the requirement of the extrusion plant, aluminium billets...
Primary aluminium inventories in China accumulate 15000 tonnes over a week to 1.248 million tonnes
According to the Shanghai Metals Market survey, social inventories of primary aluminium have grown by 15,000 tonnes over a week ending Thursday, February 23. On a week-on-week basis, the stocks have increased by 32,000 tonnes across eight major consumption areas, including SHFE warrants, to amount to 1.248 million tonnes. Aluminium ingot inventories have grown slowly as the warehouses in Gongyi and south China controlled cargo inflows due to limited storage and equipment maintenance, respectively. However, in the short term, the inventory is expected to stabilise at a higher level. The chart below indicates the current status of primary aluminium inventories across China in more details: Among the major consumption areas, Wuxi has reported the highest accumulation of stocks over a week....
Hindalco’s aluminium prices see the first cut this week after two consecutive hikes; ingot price stands at 1.6% lower
Hindalco Industries Limited has cut its aluminium ingot and aluminium products prices, with effect from February 23, after two consecutive hikes on February 21 and 22, on account of the LME aluminium price drop. The company has reduced its aluminium ingot price by INR 3,750 per tonne or 1.62 per cent to bring it back to INR 227,500 per tonne like on February 21. On February 22, the price stood at INR 231,250 per tonne. Hindalco has also axed its aluminium wire rod and billets prices by INR 3,750 per tonne on February 23 to sell its products at INR 238,600 per tonne and INR 241,600 per tonne, respectively. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metals Exchange, which slumped by US$45 per tonne on Wednesday,...
UK's TRA initiates reconsideration of anti-dumping tariff recommendation on imported Chinese aluminium extrusions
The Trade Remedies Authority (TRA), an executive non-departmental public body sponsored by the Department of International Trade, reported on Wednesday, February 22, that it began the reconsideration procedure of the recommendation of anti-dumping measures on aluminium extrusion imports from China. The process started after the authority received a request from a UK producer, who claimed the duties imposed did not accurately reflect the level of injurious dumping. During the original investigation, the TRA found the domestic aluminium industry was suffering and struggling to compete with the prices offered by imported extrusions. It, therefore, recommended anti-dumping duty on aluminium extruded products flooding into the UK from China. But later on, the authority excluded certain...
LME aluminium price plummets by US$45.5/t to stand below US$2400/t; SHFE grows slightly by US$3/t
Three-month LME aluminium opened at US$2,458.50 per tonne last night and closed at US$2,413 per tonne, down US$46 per tonne or 1.87 per cent. On Wednesday, February 22, the LME aluminium benchmark price registered a significant decline after two consecutive days of hike. While the LME aluminium cash bid price plummeted by US$45 per tonne to US$2,385 per tonne, the LME aluminium official settlement price slumped by US$45.50 per tonne to settle at US$2,385.50 per tonne. The 3-month bid price and 3-month offer price shrank by US$42 per tonne and US$43 per tonne to peg at US$2,428 per tonne and US$2,429 per tonne, respectively. December 24 bid price and December 24 offer price contracted US$35 per tonne to close at US$2,600 per tonne and US$2,605 per tonne. LME aluminium opening stock stood...
Vedanta lifts its aluminium wire rod & billet prices for the second day in a row by INR3500/t
Vedanta Limited has lifted its aluminium products prices and aluminium ingot prices for the second day in a row, bringing its aluminium wire rod price to INR 239,500-247,000 per tonne. That was an increase of INR 3,500 per tonne from the previous day. On February 21, Vedanta’s aluminium wire rod price stood at INR 236,000-243,500 per tonne, up by INR 4,750 per tonne from INR 231,250-238,750 on February 17. Vedanta’s aluminium billet price has also seen an increase of INR 3,500 per tonne on February 22 to stand at INR 241,000 per tonne, following a hike of INR 4,750 per tonne from INR 232,750 per tonne to INR 237,500 per tonne. Aluminium ingot price has also been elevated by INR 3,500 per tonne on February 22 to INR 232,000-262,500 per tonne. On February 21, the price stood at INR...
World’s primary aluminium production reflects a 3.33% rise Y-o-Y during Jan’2023; Output in Asia (ex-China) records a drop
The world's primary aluminium production initiated the year 2023 with an annual increase of 3.33 per cent from 5.648 million tonnes to 5.836 million tonnes, found the International Aluminium Institute. But on a month-on-month calculation, the output slightly dropped by 0.58 per cent compared to 5.870 million tonnes. The average daily production stood at 188,300 tonnes in January 2023, also down by 0.58 per cent month-on-month from 189,400 tonnes and up by 3.3 per cent year-on-year from 182,200 tonnes. China in January 2023 produced 3.44 million tonnes (estimated) – 1.15 per cent less than 3.48 million tonnes a month ago but 5.78 per cent more than 3.252 million tonnes a year earlier. In the entire 2022, China's primary aluminium production totalled 40.430 million tonnes. In the GCC...
Hindalco to build an aluminium recycling & segregation plant in Gujarat, India; aims to develop an alternative supply chain
Hindalco Industries Limited is reportedly mulling installing a recycling and segregation plant for its aluminium and copper businesses in Gujarat. The aim is to increase the proportion of recyclable products, in line with its US subsidiary. The project is estimated to cost INR 3,000 crore, per the preliminary estimates. The news came on February 22 after Hindalco's Managing Director Satish Pai told BQ Prime, "We are evaluating locations in Gujarat for the project. As per initial estimates, it will require an investment of Rs 3,000 crore." The project will feature a segregation unit and a smelter with a capacity of 100,000 tonnes. As India rapidly moves towards a green transition, aluminium demand is increasing. Hence, accelerating recycling rate and developing an alternative supply chain...
Aluminium production cut in Yunnan begins sending domestic metal prices range-bound: SMM
As expected earlier, aluminium production cut in Yunnan province and weaker-than-expected demand recovery would make the metal prices range-bound; both primary aluminium ingot price and aluminium alloys prices have remained muted as of Wednesday, February 22. According to the Shanghai Metals Market, China’s domestic A00 aluminium ingot price has recorded no change from RMB 18,620 per tonne, with average prices continuing to range between RMB 18,600 per tonne and RMB 18,640 per tonne. However, in some Chinese provinces, the ingot price has moved up and down. For instance, in Gongyi and Foshan, the price has grown by RMB 10 per tonne to stand at RMB 18,490 per tonne and RMB 18,630 per tonne, respectively. In contrast, the price in Linyi, Tianjin, and Hangzhou has dropped by RMB 30 per...
Vishay unveils new series of aluminium electrolytic capacitors '172 RLX' with higher ripple currents
Vishay Intertechnology, Inc., an American manufacturer of discrete semiconductors and passive electronic components, reportedly launched a new series of low impedance automotive grade miniature aluminium electrolytic capacitors last week. The new Vishay BC Components 172 RLX capacitors are AEC-Q200-qualified capacitors that deliver higher performance in smaller sizes. The product has high ripple currents up to 4.9 A, high temperature operation to +105°C, and a long useful life of 10,000 hours in 14 case sizes ranging from 10 mm by 12 mm to 18 mm by 40 mm. Thus, compared to the previous edition of the product that used to offer a ripple current of 1100 mA at a CV rating of 1000 F / 10 V in the 10 mm by 16 mm case size, the 172 RLX series delivers 1700 mA in smaller size casing. This offers...
LME aluminium benchmark price mounts to US$2392/t after three days of fall; SHFE grows by US$5/t
Three-month LME aluminium opened at US$2,395 per tonne on Monday and closed at US$2,462 per tonne, an increase of US$72 per tonne or 3.01 per cent. On Monday, February 20, LME aluminium cash bid price and LME aluminium official settlement price skyrocketed by US$55.50 per tonne and US$57 per tonne, respectively, to stand at US$2,390 per tonne and US$2,392 per tonne. That marked an increase after three consecutive days of fall from US$2,391 per tonne on February 14 to US$2,335 per tonne on February 17. 3-month bid price and 3-month offer price surged by US$56 per tonne or 2.36 per cent to clock at US$2,428 per tonne and US$2,430 per tonne. December 24 bid price and December 24 offer price totalled US$2,598 per tonne and US$2,603 per tonne. LME aluminium opening stock continued to decline...
China’s aluminium processing enterprises report higher operating rates of 61.5% as demand starts recovering
Shanghai Metals Market survey found China’s average operating rate across leading aluminium processing enterprises rose 1.7 percentage points last week to 61.5 per cent. Aluminium plate, sheet, strip, foil and construction extrusion sectors recorded operational growth with the gradual arrival of the peak season. In contrast, primary and secondary aluminium alloy and industrial aluminium extrusion sectors recorded muted operating rates due to the sluggish automobile market. The average operating rate of large secondary aluminium alloy companies failed to recover the pre-CNY levels despite growing by 3.1 percentage points to 47.5 per cent. Slow demand recovery from various industrial sectors resulted in constrained operations. In addition, raw material shortages also plagued secondary...
