AlCircle News Edited By "Sarnali Chakraborty"
Sarnali Chakraborty is a content writer with 2 years of experience. She has written articles on various genres like technical, creative, medical, to name some. Here in Alcircle she will be curating articles on the metal industry, writing newsletters and other online and offline content.
LME aluminium price grows by US$40/t to US$2863/t; SHFE price slips by US$8/t
LME aluminium opened at US$2,885 per tonne on Monday and closed at US$2,880 per tonne, an increase of US$11.5 per tonne or 0.4 per cent. On Monday, May 30, LME aluminium cash bid price and LME aluminium official settlement price settled at US$2,862 per tonne and US$2,863 per tonne, after witnessing a hike of US$39.5 per tonne or 1.39 per cent and US$40 per tonne or 1.41 per cent. 3-month bid price and 3-month offer price went on to ascend by US$45 per tonne or 1.58 per cent and US$44 per tonne or 1.54 per cent to peg at US$2,890 per tonne and US$2,891 per tonne. As per the LME price sheet, December 23 bid price and December 23 offer price, both of them experienced a growth of US$40 per tonne or 1.42 per cent to halt at US$2,845 per tonne and US$2,850 per tonne. LME aluminium Opening stock...
Exco Technologies Limited records 60.5% hike in its short interest
Ontario, Canada based Exco Technologies Limited witnessed a significant increase in its short interest, with the total amounting to 111,400 shares as of May 15, up by 60.5 per cent from 69,400 shares recorded on April 30. The days-to-cover ratio is now 222.8 days, based on an average trading volume of 500 shares. Exco Technologies Limited is a global supplier of innovative technologies servicing the aluminium die-cast, extrusion and automotive industries. On Friday, the shares of Exco Technologies started at $6.68. Exco Technologies had a low of $6.42 and a high of $9.11 for the last year. The company's 50-day and 200-day simple moving averages are $7.00 and $7.35, respectively. As per a research note released on February 3, BMO Capital Markets lowered its price target on Exco...
South Africa’s M-o-M exports of aluminium plates, sheets and bars to US downgrade by 37.02% in Feb’22
According to the latest USGS statistics, in February 2022, the United States imported 4,270 tonnes of aluminium plates, sheets and bars from South Africa, which went on to nosedive by 2,510 tonnes or 37.02 percent from 6,780 tonnes in January 2022. However in January, there was a hike of 3050 tonnes or 81.76 percent from 3,730 tonnes in December 2021. On a Y-o-Y calculation, the US aluminium flat rolled products imports from South Africa in February 2022 jumped higher by 3,616 tonnes from 654 tonnes in February 2021. In 2021, the total amount of aluminium plates, sheets and bars imported from South Africa settled at 42,000 tonnes. In February 2022, the total amount of aluminium plates, sheets and bars imported by the United States halted at 107,000 tonnes, which went on to decline majorly...
LME aluminium price climbs down by US$2.5/t to US$2,823/t; SHFE price surges by US$38/t
LME aluminium opened at US$2,867 per tonne last Friday and closed at US$2,868.5 per tonne, an increase of US$2.5 per tonne or 0.09 per cent. LME aluminium cash bid price and LME aluminium official settlement price settled at US$2,822.50 per tonne and US$2,823 per tonne, respectively, both experiencing a decrease of US$2.5 per tonne or 0.08 per cent, as of May 27, Friday. 3-month bid price and 3-month offer price for the same day declined by US$11 per tonne or 0.38 per cent, and US$10 per tonne or 0.35 per cent to score at US$2,845 per tonne and US$2,847 per tonne, respectively. December 23 bid price and December 23 offer price shrank by US$8 per tonne or 0.28 per cent to stop at US$2,805 per tonne and US$2,810 per tonne. LME aluminium opening stock dropped by 4575 tonnes or 0.96 per cent...
Nordische Technologies and CIPET develops Aluminium-Graphene battery for gadgets and EV technologies
On Saturday, May 28, Nordische Technologies announced the development of the world’s first Aluminium-Graphene pouch cell battery in collaboration with the Central Institute of Petrochemicals Engineering and Technologies (CIPET). The Aluminium-Graphene cell battery will be used for consumer electronics, gadgets, and future EV technology. This cell battery is the world's quickest charging, non-toxic, non-flammable, non-lithium and noncobalt battery with long cycle life. "This innovative Aluminum-Graphene pouch cell and future EV battery is the result of our extensive research over the past five years. It is a lightweight, high performance battery with a shelf life of five to seven years. These rechargeable, non-toxic and recyclable batteries can be charged over 3,000 cycles," said...
Primary aluminium weekly recap: EGA meets and greets global aluminium industry leaders to discuss decarbonising electricity generation; Aluminium association reports 5.3% growth in domestic aluminium demand in 1Q2022
The aluminium industry is slowly taking its step toward a greener and more sustainable environment. For example, to minimize greenhouse gas emissions, GE Power had signed a contract to upgrade Emirates Global Aluminium’s (EGA) Al Taweelah power plant gas turbines. This idea will assist the UAE to achieve its intended Net-Zero strategic objectives by 2050 by limiting the severity of greenhouse gas emissions. Not only this, EGA had also hosted a meeting with the global aluminium industry executives to explore how to decarbonize electrical generation and achieve net-zero emissions by 2050. Under the market forefront, on Monday, May 23, the benchmark aluminium price for SHFE increased by US$39 per tonne to US$3,129 per tonne, and then dropped by US$9 per tonne the next day to US$3,120 per...
Shelby Cobra, 40th anniversary edition vintage car with handcrafted aluminium body up for auction
Shelby Cobra CSX4000 Series Roadster with a hand-crafted aluminium body will be up for auction next month. The sporty two-seater is based on a 1965 model, although it was created in the early 2000s to commemorate the Shelby Company’s 40th anniversary. The unusual automobile will be auctioned off by Mecum Auctions in Tulsa from June 9 through June 11. This Cobra is one of just five with a magnificent hand-crafted, polished aluminium body and is number 29 of 40 ever manufactured as homage to the original vehicle. The vehicle is powered by an all-aluminium Shelby 427 FE Stroker V-8 engine that produces 535 horsepower and 545 ft lbs of torque. The history of the Shelby Cobra dates back to 1961, when Carroll Shelby fitted a Ford V-8 engine and a Borg-Warner T-10 four-speed gearbox in a vintage...
CNH Industrial takes over Speciality Enterprises, North America’s leading aluminium spray boom maker
Specialty Enterprises, North America's leading maker of aluminium spray booms for agricultural purposes, has been bought by CNH Industrial. According to Specialty, aluminium spray booms may be up to 50 per cent lighter than steel versions, weighing between 2,000 and 3,000 pounds less. This leads to improved weight distribution, which means less compaction and rutting on the field. Specialty has been a supplier to Case IH since 2020 and has one production plant in Wautoma, Wisconsin. According to CNH Industrial, this purchase of spray boom manufacturing is part of Case IH's long-term plan for its sprayer product selection. “We are thrilled to be working so closely with Specialty, which has been a fantastic partner to Case IH over the last few years as we deliver more productive application...
US monthly aluminium plates, sheets and bars imports from Greece in February’22 reflect fluctuating movement
In February 2022, Greece exported 2,030 tonnes of aluminium plates, sheets and bars to the United States, which on an M-o-M scale dropped by 270 tonnes from 2,300 tonnes in January 2022. However, in January 2022, a surge of 100 tonnes or 4.54 per cent was recorded from 2,200 tonnes in December 2021. On a Y-o-Y comparison, the amount of aluminium plates, sheets and bars imported by the US from Greece in February 2022 augmented by 600 tonnes or 41.95 per cent from 1,430 tonnes in February 2021. In 2021, the US imported a total of 1,290,000 tonnes of aluminium plates, sheets and bars from Greece. As per the USGS data, in February 2022, a total amount of 107,000 tonnes of aluminium plates, sheets and bars were imported by the United States from Greece. On an M-o-M calculation, the amount...
LME aluminium price climbs down by US$4/t to US$2,825.50/t; SHFE price surges by US$24/t
LME aluminium opened at US$2,875 per tonne on Thursday and closed at US$2,866 per tonne, down US$2 per tonne or 0.07 percent. On Thursday, May 26, both LME aluminium cash bid price and LME aluminium official settlement price moved down for the third day to settle at US$2,825 per tonne and US$2,825.50 per tonne, after witnessing a drop of US$4 per tonne or 0.14 percent. 3-month bid price and 3-month offer price also went down by US$1.5 per tonne or 0.05 percent and US$1 per tonne or 0.03 percent to score at US$2,856 per tonne and US$2,857 per tonne. December 23 bid price and December 23 offer price declined by US$9 per tonne or 0.31 percent to total at US$2,813 per tonne and US$2,818 per tonne. For the same day, LME aluminium opening stock halted at 475650 tonnes. Live warrants and...
Aluminium billet inventory in China slumps by 4.61% W-o-W to 130,100 tonnes
Aluminium billet inventory in China on May 26 has dropped by 6,300 tonnes or 4.61 percent W-o-W to total at 130,100 tonnes. In provinces like Foshan, Nanchang and Changzhou the inventory has fallen the highest. SMM will keep a close eye on whether demand recovers and whether the destocking trend continues despite the present high aluminium prices. The figure below provides further information on the current state of aluminium billet inventories in China: In Foshan the inventory has slumped by 2,000 tonnes to score at 74,600 tonnes, followed by a hike of 400 tonnes in Wuxi to peg at 18,400 tonnes. The inventory in Changzhou has also plunged by 1,700 tonnes to come in at 16,300 tonnes. Changzhou and Nanchang downstream producers replenished as required and arrival in Foshan have been high,...
Domestic aluminium demand in North America remains strong, up by 5.3% in 1Q2022
According to preliminary estimates released by the Aluminum Association, as part of its Aluminium Situation report, North American (U.S. and Canada) aluminium demand in the first quarter of 2022 (1Q2022) had increased by 5.3 percent. This comes after an expected 8.2 percent increase in demand through the end of 2021 (up from 7.7 percent before), and amid a period of strong investment by aluminium producers, fabricators, and recyclers in the United States. “The picture for the U.S. aluminum industry remains very strong. Economic recovery, demand for recyclable and sustainable materials and robust trade enforcement are all making America a very attractive place to make aluminum – as evidenced by the fastest pace of investment for the industry in decades,” said Charles Johnson, president &...
Tiwai aluminium smelter’s clean-up and shut down cost doubles to $687 million
The money set aside by the owners of Tiwai Point aluminium smelter for the shutting and cleaning up of the smelter has nearly doubled to $687 million. The main reason for this price jump was to get rid of more than 200,000 tonnes of spent cell lining waste that contains cyanide and toxic fluoride by 2029. The hike in funding from $352 million to $687 million appears to be a positive gesture to the government and community organisations that had previously expressed their reservations about the government's commitment to a complete clean-up. The smelter's owners are discussing with Meridian Energy, the smelter's primary power supplier, about the price of energy the smelter will have to pay to stay open beyond 2024, a trend that has reduced their profit for the year. However, Pacific...
LME aluminium price falls for the second day at US$2829.50/t; SHFE price declines by US$11/t
LME aluminium opened at US$2,889.5 per tonne on Wednesday and closed at US$2,868 per tonne, down US$9 per tonne or 0.31 per cent. On Wednesday, May 25, both LME aluminium cash bid price and LME aluminium official settlement price dropped for the second day by US$51.5 per tonne or 1.78 per cent to settle at US$2,829 per tonne and US$2,829.50 per tonne. 3-month bid price and 3-month offer price declined by US$49.5 per tonne or 1.70 per cent and US$50 per tonne or 1.71 per cent to score at US$2,857.50 per tonne and US$2,858 per tonne. December 23 bid price and December 23 offer price also inched down by US$1 per tonne or 0.03 per cent to close at US$2,822 per tonne and US$2,827 per tonne. LME aluminium opening stock halted at 481650 tonnes. Live warrants and Cancelled warrants for the same...
MetalX buys SRT Aluminum in Wabash, expands operation in northeast Indiana
MetalX, a scrap metal recycler based in Fort Wayne, Indiana, has decided to buy SRT Aluminum’s assets and operations in Wabash, Indiana. As per MetalX, the Wabash factory produces 75,000 tonnes of sow and ingot each year using electric induction and reverb furnaces. As a result of this agreement, MetalX will be able to handle more than 175,000 tonnes of nonferrous scrap yearly. The SRT factory is situated on a 40-acre plot of land that also houses an aluminium shredder and a turnings processing facility. SRT is a secondary aluminium melting operation that produces specified remolten scrap ingots (RSI) in both sow and ingot form from aluminium scrap. “Incorporating aluminum melting capabilities has been a key element of our overall strategy for some time. This acquisition gets us...
European primary aluminium smelters continue to curtail production as energy cost rises
In the face of rising energy prices, Europe's major aluminium smelters are continuing to reduce output. Over the last year, the region's output of light metal has decreased by an annualised 550,000 tonnes, with the decline continuing. With European smelters already grappling with the rising electricity costs, the geopolitical crisis has further worsened the region's energy crisis, with forward electricity prices hitting new highs regularly. The cost of operating Europe's aluminium smelters is constantly growing, with no prospect of respite in sight. According to the International Aluminium Institute's latest estimate, Western European primary aluminium output was 244,000 tonnes in April. Since the beginning of 2022, aluminium output in Eastern Europe has also decreased. April output was...
US aluminium plates, sheets and bars imports from Japan in February’22 surge by 445.07% M-o-M
The amount of aluminium plates, sheets and bars imported from Japan by the United States in February 2022 soared up by 3,209 tonnes or 445.07 per cent M-o-M, from 721 tonnes in January 2022. The amount for February 2022 settled at 3,930 tonnes. However, in January, an M-o-M downfall of 4,349 tonnes was recorded from 5,070 tonnes in December 2021. In February 2021, the number of aluminium plates, sheets and bars imported from Japan by the United States settled at 2,040 tonnes, which on a Y-o-Y comparison heightened by 1,890 tonnes or 92.64 per cent in February 2022. The total amount of aluminium plates, sheets and bars imported from Japan by the United States in 2021 closed at 46,800 tonnes. Based on the USGS statistics, in February 2022, the US imported a total amount of 107,000 tonnes of...
Sandvik to acquire Preziss, a provider of aluminium and composite machining solutions
Sandvik has signed a deal to acquire Preziss, a cutting tool and solution provider for aluminium and composite machining, specialising in high-precision drilling, reaming, milling, and tooling systems located in Spain. Sandvik will boost its portfolio in the lightweight automotive components market with the purchase of Preziss. Sandvik Coromant, a branch of Sandvik manufacturing and machining solutions will report on the firm. The deal is scheduled to conclude in the third quarter of 2022, subject to usual closing conditions. "The acquisition of Preziss is aligned with our strategy to grow in lightweight materials and strengthen our position in the automotive aluminum segment by building a complete product and service offering. We look forward to welcoming Preziss to the Group," said...
