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.
Aluminium featured GTElite sim racing cockpit ensures peripheral flexibility
Next Level Racing® is one of the leading simulation brands, transforming simulation with its industry-leading product range. As of Monday, April 4, the company announced the release of the GTElite, a mid-range aluminium profile cockpit, as well as an extension of the class-leading Elite series line of equipment and accessories. As an aluminium-profile cockpit, the goal is to give limitless accessory and peripheral flexibility for racing aficionados. This implies that a handbrake or a seat, for example, maybe placed precisely where you want them. . The pre-machined holes should make this a breeze, based on previous Next Level Racing configurations. The GTElite will be available in two versions: GTElite Wheel Plate Edition and GTElite Front & Side Mount Edition, both of which are completely...
LME halts loading of Russian aluminium in its warehouse to avoid members paying extra tax
On Friday, April 1, the London Metal Exchange had halted the shipment of some Russian-produced metals to its permitted warehouse in the United Kingdom, although no Russian metals are currently stored in its facilities. The decision was taken in response to Russia’s invasion of Ukraine earlier this year. The exchange, which is run by Hong Kong Exchanges and Clearing Ltd, said in a statement that there was a substantial possibility that anybody acquiring such metal from British storage would face exorbitant extra expenses. One of the extra levies mentioned by the LME is the 35 per cent tax imposed two weeks ago on copper, lead, basic aluminium, and aluminium alloy. Some LME members have urged for Russian metals to be banned from the exchange's system, but the world's largest and oldest...
CBA's shareholder Votorantim SA to sell 34 million shares
On Sunday, April 2, Brazilian aluminium manufacturer Companhia Brasileira de Alumínio (CBA) announced that its controlling shareholder, conglomerate Votorantim SA, will sell 34 million shares in the firm in a follow-on offering. Votorantim SA has a 75.9% interest in CBA, says data from Refinitiv Eikon. Last week, the company said it was considering a secondary offering to increase the liquidity of CBA's stock. The move would also fit perfectly with Votorantim's portfolio diversification plan. If demand allows, CBA said the offering might be raised by up to 85 per cent, or 28.9 million shares. It will also contain a price-stabilization greenshoe option of up to 5.1 million shares. On April 6, the offering will be priced. If all of the extra shares and greenshoe are sold, CBA will raise...
Rio Tinto to fund Geomega Resources’s alumina waste processing plant in Quebec
Geomega Resources, located in Montreal, has won funds to construct a C$4 million alumina waste processing plant in Quebec. Sustainable Development Technology Canada (SDTC), a federal agency that funds small and medium-sized enterprises will provide C$1.5 million. Rio Tinto, a Geomega partner, will contribute C$1.2 million in funding. Quebec produces half of Rio Tinto's global aluminium production. In the Saguenay-Lac-Saint-Jean area, Rio Tinto runs an alumina refinery, four smelters, six hydropower plants, its Arvida Research and Development Centre, and the Aluminium Operational Centre, a rail network, and one port. Geomega creates cutting-edge methods for extracting and separating rare earth elements and other key metals that are necessary for a long-term future. It is the developer of...
Campaign to reopen Alcoa Intalco Works smelter receives boost following hike in aluminium price
In April 2020, Alcoa announced the suspension of its Ferndale smelter in Washington, following diminishing demand and dropping metal prices. However, war-related sanctions on Russia that had caused aluminium spot price to reach a record high, has boosted the reopening campaign of the Alcoa Intalco Works aluminium smelter. The new owners of the idled Alcoa Intalco Works smelter in Ferndale, Washington, have received $10 million in government funding to restore the decades-old facility. The smelter, on the other hand, consumes a lot of energy to run. And it is now the main issue. A proposal for reduced-rate power to operate the large plant was denied by the Bonneville Power Administration due to high stakes. The restarting of the smelter has suffered a setback, as policymakers are worried...
Alunorte’s fuel swap project a key enabler for Hydro’s greenhouse gas reduction by 2030
Norsk Hydro ASA, a Norwegian aluminium manufacturer, has secured a US$200 million sustainability-linked loan to assist its transition from heavy oil to natural gas, a more sustainable fuel that will help meet its greenhouse gas reduction objectives. Hydro Alunorte, located in the city of Barcarena, State of Pará, is the world's biggest alumina refinery outside of China. The Alunorte alumina refinery in Brazil will be converted as part of the project, which is estimated to reduce CO2 emissions by 700,000 tonnes per year. “The Alunorte fuel switch project is one of the main enablers to deliver on Hydro’s sustainability ambitions to reduce greenhouse gas emissions by 30% by 2030. The strong relationship with the participating banks has enabled us to create a solution linking profitability...
Downstream weekly recap: Hindalco targets to spend US$7.2 billion for aluminium business expansion; Alvance Aluminium Duffel switches to green, transports rolled products by barge
This week the global aluminium downstream segment witnessed some limited but sporadic changes, showing that the metal industry is eventually getting on track. Like, Hindalco industries planning to expand its aluminium industry following the record breaking surge in price of the metal over the next 5 years. On a different note, ALVANCE Aluminium Duffel has taken a new approach that will see it shipping aluminium rolled products by barge to the port of Antwerp. On the market side, Hindalco’s aluminium wire rod and billets prices had gone up by INR2250/t following an intermittent cut. Also, the Q3 (3QFY22) results of LB aluminium shows its net profit has declined by .58 per cent to score at RM14.79 million. The European leader in the manufacture and sale of aluminium rolled products for...
Bunting Architectural Metals to build a new aluminium extrusion plant in Lawrence County
On Thursday, March 31, Josh Bunting, the President of Bunting Architectural Metals announced the construction of a new aluminium extrusion facility in Lawrence County with the help of the government Tom Wolf’s administration. Neil Weaver, the Acting Secretary of the department of commerce said that the new extrusion facility aims to create around 80 job opportunities paying 33 per cent more than the average local per capita income. For this project, Josh Bunting had received a loan of US$2.1 million from the state. Bunting has bought the 333,980-square-foot facility at 930 Cass St. in Shenango Township, which is on 24.3 acres. The new plant will be used as an aluminium extrusion mill, producing products for the building, construction, automotive, and transportation industries. Bunting...
Indonesia’s scrap imports from US reflect periodic growth in H2 2021
As per the USGS data, the United States exported a total of 4,000 tonnes of aluminium scrap to Indonesia in December 2021. On a month-on-month analysis, a downfall of 1,850 tonnes or 31.62 percent can be witnessed from 5,850 tonnes in November. In November 2021, Indonesia’s import of aluminium scrap from the United States closed at 5,850 tonnes, showing a decline of 610 tonnes or 9.44 percent from 6,460 tonnes in October. For the same year in October, Indonesia shipped 6,460 tonnes of aluminium scrap from the United States, which on a month-on-month forefront plunged by 910 tonnes or 12.34 percent from 7,370 tonnes in September 2021. The amount of aluminium scrap imported by Indonesia from the United States for September 2021 closed at 7,370 tonnes. As per the USGS data, on a...
A00 aluminium ingot price surges by RMB100/t as inflation attracts investors towards commodity
Following a hike in price since Wednesday, March 30, the A00 aluminium ingot price closed the week on Friday, April 1, with a surge of RMB 100 per tonne to peg at RMB 22,730 per tonne. The average price for the same is expected to hover between RMB 22,710 per tonne and RMB 22,750 per tonne, with spot contract to be traded at a premium price of RMB 110-70 per tonne. According to ING analyst Wenyu Yao, metals prices are projected to climb further as inflation pulls investors towards commodities, while low supply of industrial metals and the threat of more sanctions restricting Russian supplies are also driving up prices. The price in Gongyi and Foshan has moved up by RMB 140 per tonne and RMB 110 per tonne to record at RMB 22,630 per tonne and RMB 22,760 per tonne. For the same day the...
China’s aluminium billet inventories plunge by 4.67% W-o-W due to COVID-19 pandemic
On Thursday, March 31, China’s aluminium billet inventory had plunged by 7,900 tonnes or 4.67 per cent W-o-W across five major regions to total at 157,500 tonnes, found the Shanghai Metals Market. Under the effect of the pandemic, trades in the spot aluminium billet market were slow. The inventory of aluminium billets may stop declining next week, depending on the severity and long-term viability of pandemic control efforts. The chart below indicates the current status of aluminium billet inventories across China in more detail: In Foshan, the inventory had stood unchanged at 76,200 tonnes. On the same day in Wuxi, the price had declined by 11,100 tonnes to total at 39,400 tonnes. In Changzhou, the price had gone down by 3,100 to record at 22,200 tonnes. Buyers picked up cargoes from...
Hindalco targets to spend US$7.2 billion for aluminium business expansion
Over the next 5 years, Kumar Mangalam Birla owned Hindalco Industries Ltd. is aiming to invest up to US$7.2 billion in expanding its aluminium industry following the whooping increase in the price of aluminium due to the global supply bottlenecks and strong demand expectations. Hindalco Industries Limited, an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. With its headquarters in Mumbai, the company has an annual sale of US$15 billion and employs around 20,000 people. The company will be using the funds to expand its operations in India and North America. In an investor presentation, it stated that it had set aside $2.4 billion for its Indian aluminium operations over the next five years, with consumption expected to boost up in the next...
Hulamin’s operational profit augments Y-o-Y to score at R538 million, thanks to higher sales volume
Hulamin’s operational profit for the year ending December 31, 2021, reflected an increment of 760 percent to close at R538 million from R81 million in 2020. The company's headline earnings increased to R560 million from a loss of R220 million the previous year. The company also said that headline profits per share heightened by 187 percent to 182 cents from a loss of 94 cents in 2020. Hulamin is a Pietermaritzburg-based South African firm that specialises in rolled aluminium products for precision and high-tech applications. The firm manufactures a large percentage of the world's ultra-high-end aluminium goods. The sales volume also climbed by 34 percent to 222,000 tonnes, revenue had gone up by 52 percent to R13 billion, free cash flow from operations expanded by 166 percent to R239...
China’s A00 aluminium ingot price contracts by RMB100/t owing to production resumption in some areas
On Thursday, March 31, the A00 aluminium ingot price has fallen again for the second consecutive day to score at RMB 22,630 per tonne, finds the Shanghai Metals Market. The price has gone down by RMB 100 per tonne as of Thursday, March 31. The resumption of domestic aluminium production in some places has helped in easing out the demand-supply concern. However, though the price has declined, the output hasn’t reached a satisfactory number as it was last year. For today, the average price is estimated to hover between RMB 22,610 per tonne and RMB 22,650 per tonne, with spot contract to be traded at a premium price of RMB 110-70 per tonne. On the global forefront, the price of aluminium has witnessed a significant decline as Russia-Ukraine peace talks have finally taken shape, with the...
LB aluminium records 0.58% loss in 3QFY22 for higher tax provision, but revenue grows by 36.6%
LB aluminium, one of the largest suppliers of aluminium in Malaysia, has recorded a decline in its net profit by 0.58 per cent to score at RM14.79 million for Q3 ended January 31, 2022 (3QFY22) from RM14.88 million a year earlier. According to the company's registration with Bursa Malaysia, earnings per share fell to 3.4 sen from 3.42 sen. The decline in profit was mostly due to greater tax provision and loss in its property business. However, revenue for the quarter increased 36.6 per cent to RM197.11 million from RM144.30 million in 3QFY21, thanks to higher average selling prices recorded by the aluminium segment as global aluminium prices surged. Due to a smaller contribution from its partner, Vistarena Development Sdn Bhd, as well as greater preliminary expenditures spent by the...
Hindalco’s Taloja unit joins ASI as its new Production and Transformation member
On Tuesday, March 29, the Taloja Unit of Hindalco Industries Ltd. joined Aluminium Stewardship Initiative (ASI) as the new Production and Transformation member, raising the total count of ASI members to 218. Hindalco Taloja was launched in 1972 after being commissioned in 1971 with an installed capacity of 11,500 TPA of aluminium rolling. Currently, the capacity is assessed at 60,000 TPA. Hindalco, Taloja is a subsidiary of Hindalco Industries Limited, holding a 51 per cent domestic market share in rolled goods (FRP). Hindalco’s Taloja facility generates nearly a quarter of the company's total rolled products. The Taloja plant was once part of INDAL (founded in India by ALCAN of Canada in 1971) and was acquired by Hindalco in 2005 following ALCAN's ownership transfer in the year 2000....
A00 aluminium ingot price nosedives by RMB260/t; Australian FOB price shrinks to US$508/t
The A00 aluminium ingot price on Wednesday, March 30 has nosedived by RMB 260 per tonne, following a hike in price on Tuesday, March 29. According to SMM, the price has been recorded at RMB 22,730 per tonne as of today, with average price estimated to orbit between RMB 22,710 per tonne and RMB 22,750 per tonne, and spot contract to be traded at a premium rate of RMB 90-50 per tonne. As per the SMM data, the price in Wuxi and Shenyang has slipped by RMB 240 per tonne to total at RMB 22,730 per tonne and RMB 22,680 per tonne. The A00 aluminium ingot price in Gongyi and Foshan has slumped by RMB 230 per tonne and RMB 260 per tonne, to score at RMB 22,620 per tonne and RMB 22,750 per tonne. In Hangzhou and Chongqing the price has plummeted by RMB 245 per tonne and RMB 210 per tonne to peg at...
Hydro doubling down on aluminium recycling to satisfy growing demand
The Russia-Ukraine crisis and increased number of sanctions on Russia had put the aluminium sector under pressure, calling into question the fate of the industry. As a result of which companies like Norsk Hydro ASA of Norway, Novelis Inc. and Matalco Inc. of Canada are expanding their operations in the United States to create more of the lightweight metal needed by automakers, beverage can producers, and other industries. With Russia providing 6 percent of the aluminium manufactured at smelters in the United States, owing to the interrupted productions and shipments from Russia, aluminium businesses are doubling down on recycling to satisfy increased demand, melting more trash to improve their aluminium output. According to the Aluminum Association trade organisation, aluminium...
