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 partners with Metalshub to develop digital metals spot market aiming ‘Green’ Aluminum
On Monday, October 11, the London Metal Exchange (LME), announced that they are planning to establish a digital base metal spot market which will focus on the trading of ‘green’ aluminum. For this initiative, LME will be partnering with a German digital metals trading platform called Metalshub. The spot trading will be taking place on Metalshub’s existing online trading platform. The new spot market will be aiming at physical users of industrial metals and is 144 years old exchange known for functioning Europe’s only remaining open outcry trading ring, which intends to boost their digital and sustainability credentials. While Metalshub is considered as the global hub for metals trading, LME’s unique derivatives contracts allows traders to buy and sell futures for particular days are...
LME aluminium price touches milestone at US$3,020/t; SHFE price surges by US$35
Three-month LME aluminium opened at US$2,958.5 per tonne yesterday and closed at US$3,042 per tonne, up 2.79 percent. On Monday, October 11, LME aluminium cash (bid) price moved up US$117.5 or by 4.04 percent to record at US$3,019 per tonne. LME aluminium official settlement price soared up by US$118 or by 4.06 percent to close at US$3,020 per tonne. 3-month bid price and 3-month offer price settled at US$3,033 per tonne and US$3,034 per tonne. December 22 bid price closed at US$2,903 per tonne and the offer price for the same day was recorded at US$2,908 per tonne. LME aluminium opening stock for October 11 was recorded at 1150225 tonnes. Live warrants for the same day settled at 637425 tonnes and cancelled warrant totalled 512800 tonnes. LME aluminium 3-month Asian Reference Price for...
Former President of Ghana sold three-quarters of Ghana’s bauxite to Ibrahim Mahama, says Vice President's aide
Gideon Boako, an aide to Mahamudu Bawumia the Vice President of Ghana, revealed that around three-quarters of Ghana’s bauxite reserve were sold to another company by John Dramani Mahama, the former President of Ghana. The company, to whom Ghana’s bauxite reserve was sold, is associated with Ibrahim Mahama, the brother of Dramani Mahama. According to Gideon, within less than a month of his exit from office and losing the 2016 election, the Mahama administration sold the Nyinahin reserve which includes around 75 percent of the bauxite reserve in Ghana to Exton Cubic, associated with Ibrahim Mahama. “But for the intervention of the New Patriotic Party (NPP) government that cancelled the deal, Ghana would have been the worse for it,” said Gideon Boako on Net2 TV’s The Seat Show. “Atewa has...
Primary aluminium inventories in China surge by 47,000 tonnes week-on-week to 862,000 tonnes: SMM
According to the Shanghai Metals Market on October 8, social inventories of primary aluminium increased by 47,000 tonnes to settle at 862,000 on the week across eight major consumption areas, along with SHFE warrants. The inventories increased across China. Last week on September 30, primary aluminium inventories stood at 815,000 tonnes by gaining 26,000 tonnes from the previous week. The chart below shows the recent status of primary aluminium inventories across China in more detail: In Nanhai, primary aluminium inventories increased by 18,000 tonnes to settle at 262,000 tonnes and in Wuxi, it went up by 17,000 tonnes to close at 283,000 tonnes. In Shanghai, primary aluminium inventories moved up by 2,000 tonnes to close at 78,000 tonnes and in Hangzhou, it surged by 1,000 tonnes to...
LME aluminium price moves down by 0.48% to US$2,902/t; SHFE price increases by US$14
Three-month LME aluminium opened at US$2,943 per tonne last Friday and closed at US$2,959 per tonne, up 0.59 percent. Both LME aluminium cash (bid) price and LME official settlement price reduced by US$14 or by 0.48 percent to settle at US$2,901.50 per tonne and US$2,902 per tonne. 3-month bid price and 3-month offer price closed at US$2,921.50 per tonne and US$2,922.50 per tonne. December 22 bid price settled at US$2,813 per tonne and the offer price stood at US$2,818 per tonne. LME aluminium opening stock for October 8 settled at 1170800. Live warrants for the same day closed at 638425 and cancelled warrant stood at 532375. LME aluminium 3-month Asian Reference Price for Friday, October 7 was recorded at 2930.89. SHFE Aluminium Price Trend Benchmark aluminium for SHFE surged up by US$14...
Alumina Production in Shanxi suspended due to heavy rainfall
According to Shanghai Metal Market (SMM), the open-pit bauxite mines in the Jinzhong area of Shanxi were closed due to heavy rains. For alumina plants which use domestic bauxite were less than ten days. Due to the heavy rain roads were blocked, as a result of which the transportation efficiency of few raw materials declined. In September the production capacity of some alumina plants decreased from 4,000 tonnes per day to 2,000 tonnes per day. Xinfa Chemical in Xiaoyi area had to suspend their alumina production line with 1.2 million tonnes per year Due to the heavy rainfall, the alumina production in Xinfa Chemical in Xiaoyi area got suspended as the rainwater flooded the factory due to low terrain. The water inside the plant can be discharged within 3 days once the rainfall is reduced...
OPSCB organises public hearing for the establishment of the Hindalco's alumina refinery in Kansariguda
On Thursday, October 7, a public hearing was held at Dharada village located under Koraput’s Lakshmipur tehsil. The public hearing was organised by the Odisha State Pollution Control Board (OPSCB) for the establishment of Hindalco’s 3 million tonne capacity alumina refinery and 150 MW capacity power plant in Kansariguda. Hindalco Industries Limited is the world’s largest aluminium rolling company and is also a leading primary aluminium producer in Asia. In the hearing the villagers demanded for better compensation package, employment and healthcare. One of the members of the legislative assembly who was present at the event stated that the locals must be given the top priority in employment opportunities. Not only this, they should also ensure improved healthcare facility for the locals,...
HyNet welcomes leading aluminum recycler Novelis to join their low carbon hydrogen mission
Novelis, one of the leading producers of flat-rolled aluminum products and the world's largest aluminum recycler, has joined hands with HyNet low carbon clusters. Novelis is one of the 24 major employers in the North West to work together with HyNet. Apart from this, other industries like the automotive sector, food, glass, ceramics, and paper. The Novelis plant was built in 1991 at Latchfors Lockw and is considered as one of the leading aluminum recycler in the world. They have the capacity to recycle almost every aluminium cans sold in the United Kingdom, which is equivalent to around 117,000 tonnes every year. HyNet decarbonisation cluster is located across the Liverpool City Region, Greater Manchester Combined Authority areas and also in places like Wrexham, Cheshire, Warrington, and...
Vedanta Aluminium receives ‘Best in Future of Digital Infrastructure’ award at IDC Digital Transformation Summit India
Vedanta Aluminium, one of the largest producers of aluminium and value added products in India grabbed the “Best in Future of Digital Infrastructure,” award at the IDC Digital Transformation (DX) Summit India and Future Enterprise Awards 2021. The esteemed IDC Future Enterprise Awards celebrate the tech-enabled resilience of enterprises as they march themselves through the challenges and disruptions involved in the ever-changing digital world. Vedanta Aluminium won the award in the ‘Best in Future of Digital Infrastructure’ category for their Wi-Fi 6 and Digital Smelter project. Vedanta Aluminium is India’s first and world’s third aluminium smelter to start the digital-twin based Digital Smelter technology at Jharsuguda plant. The Jharsuguda plant is the largest single location aluminium...
LME aluminium price increases by 1.25% to US$2,916/t; SHFE market resumes at US$3,562/t after a week long holiday
Three-month LME aluminium opened at US$2,900 per tonne yesterday and closed at US$2,942 per tonne, up US$45 per tonne or 1.55 percent. LME aluminium cash (bid) price increased by US$36.5 or by 1.26 percent to score at US$2,915.50 per tonne. LME aluminium official settlement price surged by US$36 or by 1.25 percent to settle at US$2,916 per tonne. 3-month bid price and 3-month offer price was recorded at US$2,928 per tonne and US$2,929 per tonne. December 22 bid price scored at US$2,815 per tonne and the offer price was recorded at US$2,820 per tonne. LME aluminium opening stock for October 7 closed at 1188575 tonnes. Live warrants for the same day were recorded at 638425 and cancelled warrant stood at 550150. LME aluminium 3-month Asian Reference Price for Thursday, October 7 settled at...
Guinea enthrones ex-CBG employee Mohamed Beavogui as new Prime Minister
On Wednesday, Guinea’s military junta named Mohamed Beavogui as the new prime minister. A former civil servant and an expert in agricultural finance, as a prime minister he will preside over the promised transition of back to the democratic rule after a September coup. Apart from serving as a civil servant, Mohamed Beavogui also worked at the Compagnie des Bauxites de Guinee (CBG), one of the leading producers of Bauxite in Guinea and also the largest in the world. The Guinean government owns 49 percent of the company, and 51 percent is owned by Halco Mining Inc. He also worked at the U.N. Food and Agriculture Organisation, served as the director general at African Risk Capacity, which is an African Union agency known for helping governments plan for natural disaster. Mohamed Beavogui is...
LME aluminium decreases by 0.50% to US$2,880/t; SHFE market is closed for the National Day holiday
LME aluminium benchmark price surged 0.51 percent on Wednesday, October 6. LME aluminium cash (bid) price reduced by US$15 to settle at US$2,879 per tonne. LME aluminium official settlement price lowered by US$14.5 or by 0.50 percent to close at US$2,880 per tonne. 3-month bid price and 3-month offer price stood at US$2,887 per tonne and US$2,888 per tonne. December 22 bid price was recorded at US$2,780 per tonne and the offer price for the same day closed at US$2,785 per tonne. LME aluminium opening stock for October 6 stood at 1198425 tonnes. Live warrants for the same day settled at 644550 and cancelled warrant was found out to be 553875. LME aluminium 3-month Asian Reference Price for Wednesday, October 6 closed at 2920.65. SHFE Aluminium Price Trend The Shanghai Metal Market will be...
Alba chairman main speaker at the 24th Arab-German Business Forum 2021
The Chairman of the Board of Directors of Aluminium Bahrain B.S.C. (ALBA), Shaikh Daij bin Salman bin Daij Al Khalifa was the main speaker at the 24 th Arab-German Business Forum 2021. The event was held at the Hotel Ritz-Carlton Berlin, Germany from October 4 to October 6 2021. The three-day Arab-German Business Forum is an important platform for promoting Arab-German business relations. The event includes panel discussions, Ambassador rountables, country workshops involving reputed speakers who will talk mainly about the key sectors with economies which can create opportunities and growth. The key members at the event were Ali Al Baqali, the Chief Executive Officer of Alba and Chief Marketing Officer Khalid A. Latif. Other people attending the event were Boris Santosi, the Marketing...
Japan’s Q4 aluminium premium escalates 19% to $220/t
The aluminium shipments premium to the Japanese buyers for October to December closed at $220 per tonne. This shows an increase of 19% from the previous quarter flaunting higher overseas premium and tight supply, six sources involved directly in pricing talks said. The numbers are higher than the $185 per tonne paid for the July-September quarter, reflecting fifth consecutive quarterly increase, the highest since the 2015 April-June quarter. However, the amount recorded was below the initial offers of $230-$250 made by the producers. Japan, one of the biggest importers of light metal in Asia as well as the premiums PREM-ALLUM-JP for primary metal shipments has agreed to pay every quarter higher than the benchmark set by London Metal Exchange (LME) for the region. The sources revealed...
APAA in strong support of Section 232 Aluminium Program
The official association of primary aluminium producers, American Primary Aluminum Association (APAA) which is dedicated towards protecting the long-term interest of the U.S. primary aluminium industry and its workers came in support of the continuation of the Section 232 aluminium program. In order to preserve the importance of the Section 232 program, the domestic primary aluminium industry was seen supporting the tariff-rare quota (TRQ) for the European Union in contrary to the claims made by the associations representing foreign producers. It is because of these common-sense tariffs that the American primary aluminium industry got saved. It is also helping to rebuild the domestic industry, which is important for the U.S. national and economic security. Before the onset of the Section...
LME aluminium elevates by 0.19% to US$2,894.50; SHFE market is closed for the National Day holiday
LME aluminium cash (bid) price increased by US$6 or by 0.20 percent to settle at US$2,894 per tonne. LME aluminium official settlement price surged by US$5.5 or by 0.19 percent to close at US$2,894.50 per tonne. 3-month bid price and 3-month offer price settled at US$2,911 per tonne and US$2,912 per tonne. December 22 bid price was found out to be US$2,788 per tonne and the offer price for the same stood at US$2,793 per tonne. LME aluminium opening stock for October 5 was recorded at 1211975 tonnes. Live warrants for the same closed at 644550 and cancelled warrant settled at 567425. LME aluminium 3-month Asian Reference Price for Tuesday, October 5 was recorded at 2907. SHFE Aluminium Price Trend The Shanghai Metal Market will be closed from October 1 to October 7 for the National Day...
RUSAL and PJSC TransContainer join hands to reduce carbon emissions in aluminium transportation
RUSAL and PJSC TransContainer (part of the DELO group) have joined the bandwagon to lower greenhouse gas emission and save the environment from its negative impact. Both of them have signed an agreement of intent on strategic cooperation to reduce the carbon content in the field of logistics. RUSAL’s General Director Evgenii Nikitin and President of PJSC TransContainer Alexander Isurin were a part of the ceremony. RUSAL is second largest producer of aluminium in the world as well as the leading producer of low carbon aluminium. PJSC TransContainer is a Russian operator of intermodal container and is known for managing the largest fleet of containers and flatcars in Russia. In order to lower the greenhouse gas emission, both the companies have joined hands to develop and implement new...
US aluminium plates, sheets, bars exports to Canada surge 20.67% Y-o-Y in July 2021
According to the US Geological Survey (USGS), Canada imported 21,100 tonnes of plates, sheets, and bars from the United States in July 2021, showing a month-on-month reduction of 3400 tonnes or 13.87 percent. In June 2021, 24,500 tonnes of plates, sheets, and bars were exported to Canada, a decrease of 1.20 percent from 24,800 tonnes in May 2021. On a year-on-year calculation, plates, sheets and bars exported to Canada in July 2021 surged by 5,500 tonnes or by 20.67 percent from 26,600 tonnes. From January to July 2021, the exported plates, sheets and bars to Canada surged 9,000 tonnes or by 5.35 percent on a year-on-year calculation to close at 177,000 tonnes. For the same period last year, the amount of plates, sheets and bars imported to Canada was recorded at 168,000 tonnes. As per...
