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.
Two GFG Alliance firms files lawsuit to recapture aluminium smelter in Northern France
Sanjeev Gupta's GFG Alliance metals empire has filed a last-ditch bid in London's high court to recapture a coveted aluminium smelter in northern France from a US private equity firm. Two GFG Alliance firms have launched a lawsuit against a fund owned by American Industrial Partners (AIP), which has been operating the smelter in Dunkerque since October after receiving government licence. The allegation is based on a complicated set of loan arrangements, but GFG's court documents imply that the action might lead to more examination of Gupta's business. According to court records, AIP claimed in September that it was unable to receive payments from GFG relating to the loans because of an accusation that GFG entities had infringed Romanian law. The complicated dispute over the smelter's...
Norsk Hydro’s dividend payment for 2021 may surge more than quadruple
Norsk Hydro, a Norwegian aluminium producer, posted record quarterly and yearly earnings on Tuesday, owing to a boom in global commodity prices, and indicated its dividend payout for 2021 will more than quadruple. In the October-December quarter, adjusted profits before interest, taxes, depreciation, and amortisation (EBITDA) increased to 9 billion Norwegian crowns ($1 billion), up from 3.4 billion the year before. Analysts had expecting 9.31 billion. Global supply-chain bottlenecks, rising energy prices, and inflationary threats are all sources of concern for the organisation. "There is an increasing uncertainty about the outlook," said Hydro. Hydro's board suggested a 5.4 crown annual dividend, with 2.0 crowns designated as an exceptional distribution, although analysts had projected a...
Shares of aluminium giant RUSAL drop by 22%, the biggest fall since April 2018
In Hong Kong, shares of United Co. Rusal International fell as much as 22% as investors watched the dramatic escalation in the West's standoff with Moscow over Ukraine. This is the greatest drop since April 2018, when Rusal was struck by an earlier wave of US sanctions in response to what the US Treasury at the time referred to as Russia's "malign behaviour throughout the world." The Ukraine situation heightens the dangers for the world's largest aluminium production, as worries grow that escalating tensions or additional fighting in Ukraine could impede trade and lead to further sanctions against Russian firms. The US government has stated that fresh measures would be announced on Tuesday; however it is unclear what those sanctions will be. As the currency plummeted and oil rose, Rusal...
US aluminium plates, sheets and bars import from Thailand grows by 854.84% Y-o-Y in November 2021
According to the US Geological Survey (USGS), the United States imported 7,190 tonnes of US aluminium plates, sheets and bars from Thailand in November, showing a month-on-month drop of 100 per tonne or by 1.37%. In October 2021, 7,290 tonnes of US aluminium plates, sheets and bars were imported from Thailand, showing surge of 4,910 tonnes from 2,310 tonnes in September 2021. On a year-on-year calculation, US aluminium plates, sheets and bars imported from Thailand, in November 2021 ascended by 6,437 tonnes or by 854.84% from 753 tonnes in November 2020. From January to November, the imported aluminium plates, sheets and bars from Thailand, in November 2021 settled at 63,400 tonnes. For the same period last year, the amount registered at 30,100 tonnes. As per the data shared by the USGS,...
Average alumina spot in China registers at RMB 3,305/t; A00 aluminium ingot price hikes by RMB 300/t
According to the Shanghai Metals Market, on Tuesday, February 22, the average alumina spot price has remained restrained to settle at US$3,305 per tonne. The price has remained the same since Wednesday, February 16. The price in provinces like Shandong and Henan has also remained constant to score at RMB 3,300 per tonne and RMB 3,320 per tonne. In Shanxi and Guizhou as well the price has remained the same to peg at RMB 3,310 per tonne and RMB 3,300 per tonne. The average alumina spot price in Guangxi and Lianyungang has been recorded at RMB 3,190 per tonne and RMB 3,125 per tonne. In Bayuquan as well the price has remained the same to total at RMB 3,250 per tonne. The Australian alumina FOB price has remained unchanged to settle at US$429 per tonne. According to the Shanghai Metals...
LME aluminium price inches by 0.03% to US$3,315/t; SHFE price surges by US$57/t
LME aluminium opened at US$3,265.5 per tonne on Monday and closed at US$3,290 per tonne, an increase of US$23.5 per tonne or 0.72%. On Monday, February 21, LME aluminium cash bid price remained the same as Friday, February 18, to close at US$3,313 per tonne. But, LME aluminium official settlement price inched up by US$1 per tonne or 0.03% to peg at US$3,315 per tonne. 3-month bid price and 3-month offer price scored at US$3,269 per tonne and US$3,270 per tonne. December 23 bid price and December 23 offer price registered at US$2,938 per tonne and US$2,943 per tonne. LME aluminium opening stock closed at 843475 tonnes. Live warrants and Cancelled warrants for the same day settled at 541300 tonnes and 302175 tonnes. LME aluminium 3-month Asian Reference Price totalled at US$3,254.68 per...
Average alumina spot price in China pegs at RMB 3,305/t; A00 aluminium ingot price dips by RMB 120/t
On Monday, January 21, the average alumina spot price in China has remained restrained to score at RMB 3,305 per tonne, found the Shanghai Metals Market. For the same day in Shandong and Henan the price has remained restrained to peg at RMB 3,300 per tonne and RMB 3,320 per tonne. The average alumina spot price in Shanxi and Guizhou also the price has stayed the same at RMB 3,310 per tonne and RMB 3,300 per tonne. In Guangxi and Lianyungang, the price has not changed and has been recorded at RMB 3,190 per tonne and RMB 3,125 per tonne. In Bayuquan, the price closed at RMB 3,250. The Australian alumina FOB price has stepped up by US$24 per tonne to settle at US$429 per tonne. As per the Shanghai Metals Market, A00 aluminium ingot price has descended by RMB 120 per tonne to settle at RMB...
LME aluminium price soars up by US$20/t to US$3,314/t; SHFE price drops by US$17/t
LME aluminium opened at US$3,257 per tonne last Friday and closed at US$3,266.5 per tonne, an increase of US$8 per tonne or 0.25%. On Friday, February 18, LME aluminium cash bid price surged by US$21 per tonne or 0.63% to close at US$3,313 per tonne. On other hand, LME aluminium official settlement price also soared up by US$20 per tonne or by 0.60% to peg at US$3,314 per tonne, for the same day. 3-month bid price and 3-month offer price recorded at US$3,263 per tonne and US$3,265 per tonne, for the same day. December 23 bid price and December 23 offer price scored at US$2,917 per tonne and US$2,922 per tonne. LME aluminium opening stock settled at 849275 tonnes. Live warrants and Cancelled warrants for the same day also came in at 849275 tonnes and 282975 tonnes. LME aluminium 3-month...
US aluminium plates, sheets and bars imports from Turkey surges by 232.14% Y-o-Y in November 2021
According to the US Geological Survey (USGS), the United States imported 4,650 tonnes of US aluminium plates, sheets and bars from Turkey in November, showing a month-on-month descend of 630 per tonne or by 11.93%. In October 2021, 5,280 tonnes of US aluminium plates, sheets and bars were imported from Turkey, showing a drop of 200 tonnes from 5,480 tonnes in September 2021. On a year-on-year calculation, US aluminium plates, sheets and bars imported from Turkey, In November 2021 hiked by 3,250 tonnes or by 232.14% from 1,400 tonnes in November 2020. From January to November, the imported aluminium plates, sheets and bars from Turkey in November 2021 closed at 56,200 tonnes. For the same period last year, the amount scored at 37,900 tonnes. As per the data shared by the USGS, the total...
Finance Ministry extends anti-dumping tariff on aluminium foil imports from China
The Finance Ministry has prolonged the anti-dumping tariff on Chinese imports of 'aluminium foil' (5.5 micron to 80 micron) until June 15. This comes after the Directorate General of Trade Remedies (DGTR) launched a sunset review inquiry against China's anti-dumping tax on "aluminium foil" (5.5 micron to 80 micron) in September 2021. On behalf of domestic industry, Hindalco Industries, Raviraj Foils, and Jindal India filed an application seeking the continuation of anti-dumping duties on "aluminium foil" imports from China. The petitioners claimed that dumping from China had continued even after the installation of anti-dumping duties, and that dumping and harm were likely to continue or recur if the duties were lifted. It may be noted that on May 16, 2017, the Finance Ministry imposed a...
US aluminium scraps export to Russia dips by 38.28% Y-o-Y in November 2021
As per the US Geological Survey, the United States exported 4,530 tonnes of US aluminium scrap in November to Russia. On a month-on-month scale, there was a hike of 1,230 per tonne or 37.27%. In October 2021, 3,300 tonnes of US aluminium scrap was exported to Russia, showing a slump of 40 tonnes from 3,340 tonnes in September 2021. On a year-on-year calculation, US aluminium scrap exported to Russia in November 2021 dropped by 2,810 tonnes or 38.28% from 7,340 tonnes in November 2020. From January to November, the exported aluminium scrap to Russia settled at 50,400 tonnes. For the same period last year, the amount scored at 28,800 tonnes. Based on the data from the USGS, the total amount of plates, sheets, bars, crude metals and alloys, and scrap, exported to Russia for November 2021...
Australia’s major packaging supplier Orora reports increase in sales and profit
In its recent half-year results, Orora, one of Australia's main packaging suppliers, recorded increase in sales and profits from ordinary activities, despite the impact of rising aluminium prices on its Australasian business. The firm, which manufactures aluminium cans and glass bottles, reported $2 billion in revenue for the half year ended December 31, up from $1.8 billion the previous year. The company's overall net profit, which includes its Australasian and North American businesses, increased by 12.9% to $102.7 million after tax and before significant items. Earnings before substantial items, interest, and tax in its Australian company, on the other hand, fell by 2.3 percent to $84 million from $86 million. Revenue in its Australasian division increased slightly to $443.2 million...
LME aluminium price surges by US$12/t to peg at US$3,294/t; SHFE price hikes by 0.16%
LME aluminium opened at US$3,250 per tonne on Thursday and closed at US$3,258 per tonne, an increase of US$8.5 per tonne or 0.26%. On Thursday, February 17, LME aluminium cash bid price hiked by US$12 per tonne or 0.36% to close at US$3,292 per tonne. On the other hand, LME aluminium official settlement price also soared up by US$12 per tonne or by 0.36% to peg at US$3,294 per tonne. 3-month bid price and 3-month offer price scored at US$3,240 per tonne and US$3,241 per tonne. December 23 bid price and December 23 offer price recorded at US$2,832 per tonne and US$2,897 per tonne, for the same day. LME aluminium opening stock came in at 855525 tonnes. Live warrants and Cancelled warrants totalled at 566300 tonnes and 289225 tonnes. LME aluminium 3-month Asian Reference Price also closed at...
Hydro Extrusion aluminium production factories in Italy receive ASI certifications
The ASI Chain of Custody Standard had been accredited at both of Hydro Extrusion Italy's aluminium production factories in Feltre and Ornago. Each location has also been recertified in accordance with ASI's Performance Standard. The Aluminium Stewardship Initiative (ASI) aspires to see sustainability and human rights values become more deeply ingrained in supply chains. Its Performance Standard acknowledges appropriate aluminium production, procurement, and management. The Chain of Custody (CoC) Standard specifies the standards for establishing a chain of custody for CoC material, such as ASI Aluminum, as it moves through the value chain to downstream industries. It not only certifies the locations and their operations, but it also certifies the actual metal they process when it comes...
Aluminium billet inventory in China slips by 2,900 tonnes to close at 264,000 tonnes
The aluminium billet inventories in China decreased by 2,900 tonnes or 1.08% week-on-week across five major consumption areas. As a result, the inventories closed at 264,000 tonnes, as of Thursday, February 17. Foshan's inventory declined the most by 8,700 tonnes or 6.45%, followed by Nanchang's stockpile, which fell by 6,300 tonnes or 25.71%. Because of the COVID epidemic in Guangxi, arrivals in south China were limited, resulting in contested logistics in Foshan. Meanwhile, the RCs rebounded, prompting in increased purchases over concerns about potential supply shortages. In Nanchang, the warehouses reported fewer arrivals, and shipments leaving the warehouses were equally slow. Shipments to other markets were also less than adequate since downstream manufacturing has not yet completely...
Huanghe Xinye Co., Ltd. joins ASI as new Production and Transformation member
On Tuesday, February 15, ASI welcomed Huanghe Xinye Co., Ltd. as its new production and transformation member, making the total count of ASI members to 213. The Yellow River Upstream Hydropower Development Co., LTD is a wholly-owned subsidiary of Huang Hexin Industry Co., LTD, which is also the national electric power investment group co., LTD. The industrial cluster in the Qinghai region, which is extending the industrial chain and is an important project in promoting the coordinated development of industry integration strategy, now has an annual output of 300,000 tonnes of 600,000 tonnes of electrolytic aluminium, carbon capacity, and a total investment of 7.493 billion yuan. The firm began building in March 2008, and the major processes were finished and placed into service in stages...
US aluminium scrap export to Thailand grows by 53.02% Y-o-Y in November 2021
According to the US Geological Survey (USGS), the United States exported 9,610 tonnes of US aluminium scrap in November to Thailand. On a month-on-month scale, there was a growth of 5,130 per tonne or 114.50%. In October 2021, 4,480 tonnes of US aluminium scrap was exported to Thailand, highlighting a slip 1,440 tonnes from 5,920 tonnes in September 2021. On a year-on-year calculation, US aluminium scrap exported to Thailand in November 2021 escalated by 3,330 tonnes or 53.02% from 6,280 tonnes in November 2020. From January to November, the exported aluminium scrap to Thailand pegged at 65,600 tonnes. For the same period last, the amount closed at 65,700 tonnes. Based on the data from the USGS, the total amount of aluminium plates, sheets, bars, crude metals and alloys, and scrap,...
Average alumina spot price in China closes at RMB 3,305/t; A00 aluminium ingot price grows by RMB 70/t
On Thursday, February 17, the average alumina spot price in China has remained unchanged to close at RMB 3,305 per tonne, found the Shanghai Metals Market. For the same day in Shandong and Henan the price has remained restrained to peg at RMB 3,300 per tonne and RMB 3,320 per tonne. The average alumina spot price in Shanxi and Guizhou also the price has stayed the same at RMB 3,310 per tonne and RMB 3,300 per tonne. In Guangxi and Lianyungang, the price has not changed and has been recorded at RMB 3,190 per tonne and RMB 3,125 per tonne. In Bayuquan, the price closed at RMB 3,250. The Australian alumina FOB price has stepped up by US$5 per tonne to settle at US$403 per tonne. According to the Shanghai Metals Market A00 aluminium ingot price climbed up by RMB 70 per tonne to score at RMB...
