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.
Hydro’s adjusted EBITDA for 2023 drops significantly by 43.88% Y-o-Y
Full year 2023 adjusted EBITDA amounted to NOK 22,258 million, compared with NOK 39,664 million in 2022. The decline was primarily due to reduced sales prices for aluminium and alumina, decreased volumes in extrusions and recycling, elevated fixed costs, and diminished proceeds from power sales. However, these adverse impacts were partially mitigated by decreased raw material expenses, increased margins in Extrusions, and favourable currency effects. 2023 result Demand for extruded products fell by 17 per cent yearly in European markets. Even with these changes, Hydro Extrusions delivered their second-highest adjusted EBITDA of NOK 6,480 million, as growth in high-margin segments offset a large share of the volume decline. All business areas, except bauxite & alumina, delivered returns...
LME aluminium benchmark price drops to US$2,194/t; SHFE is closed for CNY holidays
On Wednesday, February 14, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$10 per tonne or 0.45 per cent to settle at US$2,193 per tonne and US$2,194 per tonne. As per the LME data , 3-month bid price and 3-month offer price fell by US$10 per tonne or 0.44 per cent and US$11 per tonne or 0.49 per cent to settle at US$2,222 per tonne and US$2,223 per tonne. December 25 bid price and December 25 offer price slipped by US$5 per tonne or 0.20 per cent to clock at US$2,447 per tonne and US$2,452 per tonne. LME aluminium opening stock came in at 525100 tonnes. Live warrants and Cancelled warrants stood at 324350 tonnes and 200750 tonnes. LME aluminium 3-month Asian Reference Price declined by US$27.5 per tonne to stop at US$2,214 per tonne. SHFE price...
Recycling weekly recap: Tesem and Constellium team up to revolutionise aluminium recycling
Tesem harnesses the distinctive properties of aluminium to meet the demanding durability and aesthetic requirements established by luxury perfume and cosmetics brands. They are teaming up with Constellium, the Spanish conglomerate that endeavours to reduce the carbon footprint linked with its manufacturing of packaging components. The Alupro Aluminum Packaging Organisation has recently been unveiled as the newest sponsor for the forthcoming Letsrecycle Communications Conference, set to take place at the Hallam Centre in London on February 7th. Following the recent introduction of the Deposit Return Scheme (DRS) in the Republic of Ireland, a fresh study conducted by the recycling non-profit organization Every Can Counts has revealed that approximately 29 per cent of Irish individuals...
Sustainability weekly recap: Hindalco secures 26% stake in Ayana Renewable for its Odisha smelter
Decarbonising and sustainable aluminium production is poised to become the foremost focus on the supply side in the coming years. The global aluminium industry is set to prioritise achieving net-zero and carbon-neutral, making it a central driving force in the sector. In its latest strategic move to enhance its renewable energy holdings, Hindalco Industries has finalized the acquisition of a 26 per cent stake in Ayana Renewable Power Four for INR 1.62 crore. Mozambique stands on the cusp of a momentous energy transition, poised to reclaim authority over its hydropower reserves from South Africa. Alcoa Corporation's decision to offload its shuttered Intalco Works aluminium smelter to AltaGas Ltd., a Canadian energy firm, has ignited curiosity and conjecture regarding the destiny of the...
DFV partners with AkzoNobel to give its aluminium coating business a sustainable outlook
DFV, the distinguished Italian aluminium coating enterprise, is forging a strategic alliance with AkzoNobel Powder Coatings to maintain its vanguard position. Leveraging Interpon powder coating technology, DFV is revolutionising the appearance of aluminium, mimicking the natural allure of wood. Decarbonising and sustainable aluminium production is poised to become the foremost focus on the supply side in the coming years. The global aluminium industry is set to prioritise achieving net-zero and carbon-neutral, making it a central driving force in the sector. Renowned for crafting architectural marvels in aluminium, including facades and exteriors, DFV has found its forte in wood-effect finishes. Branded under the esteemed 'Ezy' range, these innovations have become the cornerstone of DFV's...
ASI announces the joining of Plus Pack as its new Downstream Supporter member
On Wednesday, February 7, the Aluminium Stewardship Initiative (ASI) announced the joining of Plus Pack as the new Downstream Supporter member. Plus Pack, one of the leading aluminium and plastic packaging solution providers, is committed to revolutionizing the single-use food packaging sector, steering it towards circularity and minimizing its climate footprint. The partnership with ASI underscores Plus Pack's unwavering commitment to promoting responsible production and consumption practices. ASI is a crucial resource, furnishing us with invaluable insights to navigate sustainability hurdles and capitalize on opportunities within the aluminium value chain. "We have decided to join ASI to further support the transformation of the aluminium industry towards a more responsible production...
Lidl’s green initiative: Return empty aluminium cans for uncapped shopping experience
Lidl, the widely known supermarket chain became the first to introduce reverse vending machines (RVM) in its Glasgow stores, allowing customers to receive five pence per container returned without any limit on the number of items. This initiative by Lidl, spanning all 21 stores in the city, will issue vouchers to shoppers for returning empty aluminium and plastic drink containers. About the scheme The scheme welcomes aluminium cans and bottles from any retailer, provided they meet specific criteria: cleanliness, absence of crushing and falling within the 100 ml to 3L size range, complete with a readable barcode. Excluded items encompass dairy products in HDPE plastic, Tetra Pak and paper-based cartons, glass containers, and pouches. Empowering shoppers to actively combat plastic...
LME aluminium benchmark price hikes by US$25.5/t to US$2,221/t; SHFE market is closed for Chinese New Year
On Thursday, February 8, LME aluminium official settlement price hiked by US$25.50 per tonne to settle at US$2,221 per tonne. As per the LME data, both 3-month bid price and 3-month offer price grew by US$9 per tonne or 0.40 per cent and US$8 per tonne or 0.35 per cent to clock at US$2,237 per tonne and US$2,238 per tonne. December 25 bid price and December 25 offer price ascended by US$5 per tonne or 0.20 per cent to peg at US$2,458 per tonne and uS$2,463 per tonne. LME aluminium opening stock came in at 529350 tonnes. Live warrants and Cancelled warrants stood at 325825 tonnes and 203525 tonnes. LME aluminium 3-month Asian Reference Price moved up by US$3.15 per tonne or 0.14 per cent to halt at US$2,229.65 per tonne. SHFE price The SHFE market is closed on the occasion of the Chinese...
OEMs in the automobile sector record M-o-M growth in ADC12 aluminium ingot prices
Original equipment manufacturers (OEMs) in the automobile sector saw M-o-M surge in aluminium ADC12 alloy ingot prices, climbing by INR 6,000 per tonne to reach INR 204,000 per tonne, excluding GST, at the ex-works (exw) Delhi rate. Meanwhile, spot prices for ADC12 alloy ingots increased by INR 1,500 per tonne week-over-week, reaching INR 198,500 per tonne, excluding GST. What's driving up costs? In the north Indian market, the shortage of raw materials, specifically tense scrap, has led to elevated prices, with tense scrap currently priced at INR 167,000-168,000 per tonne exy Delhi, excluding GST. India's largest automobile manufacturer and the price settler in the domestic aluminium alloy ingot space announced its monthly aluminium alloy ingot ADC12 settlement prices at INR 199,500 per...
European Commission advocates decarbonisation deal to achieve its 2040 emission goal; High energy cost dampens Europe’s aluminium output
In recent years, there has been a global resurgence in commitments to carbon neutrality, with countries worldwide revising their policies and strategies to attain these objectives. This movement has coincided with a remarkable increase in the adoption of electric vehicles and a substantial rise in investments directed towards renewable energy projects. Many nations are prioritising these investments as part of their efforts to enhance energy independence and sustainability. As per IAI's analysis, primary aluminium production in Europe amounted to approximately 6.73 million tonnes in 2023. This marked a 3.95 per cent decline from the previous year's production of 6.99 million tonnes, primarily attributed to persistently high energy costs that had adversely impacted the European primary...
China’s A00 aluminium ingot price falls by RMB10/t to RMB18,910/t; Australian alumina FOB price slips by US$6/t
China’s A00 aluminium ingot price has descended by RMB 10 per tonne to settle at RMB 18,910 per tonne as of Thursday, February 8. As per the SMM data, the prices have fallen in all the provinces. To begin with, the prices in Foshan and Gongyi have fallen by RMB 50 per tonne and RMB 10 per tonne to arrive at RMB 18,920 per tonne and RMB 18, 840 per tonne. On the same day, the prices in other regions like Wuxi, Hangzhou and Chongqing decreased by RMB 10 per tonne to clock at RMB 18,910 per tonne, respectively. In Shenyang, Tianjin and Linyi, the domestic aluminium ingot prices have also experienced the same price cut to reach RMB 18,910 per tonne. The low carbon aluminium price has slumped by RMB 52 per tonne to halt at RMB 19,696 per tonne. The price of aluminium alloys (ADC12), aluminium...
Zero Sugar, maximum flavour: Coca-Cola's spiced delight now available in 12oz aluminium cans
The American multinational corporation Coca-Cola is all set to spice things up with their newly launched 'Spiced Zero Sugar', the first permanent flavour to be introduced by the brand in three years. The new flavour will be available in both aluminium cans and pet bottles. Described as a fusion of the traditional Coca-Cola flavour with refreshing raspberry tones and subtle spiced accents, Coca-Cola Spiced is set to hit national retail shelves starting February 19th. Coca-Cola Spiced Zero Sugar will also be available alongside the regular version for those watching their sugar intake. The new beverage will be offered in various packaging options, including 12-ounce sleek aluminium cans, 12-ounce twelve packs, ten-pack mini aluminium cans, and 2-litre bottles. Coca-Cola Spiced Zero Sugar...
Three subsidiaries of Nanhai Aluminum bag the National High tech Enterprises recognition for 2023
China-based Nanhai Aluminum Application Technology Group and three of its subsidiaries have been recognised as the 'National High Tech Enterprises' for 2023. Among these, subsidiaries of Nanhai Aluminum Application Technology Group, namely Guangdong Nanaluminum Construction Formwork Technology Co., Ltd., Guangdong Dingsheng Technology Co., Ltd., and Foshan Yuexin Ban Digital Labor Service Co., Ltd., have successfully attained the designation of "National High-tech Enterprise" following rigorous rounds of assessment. On January 25th, the Office of the Leading Group for the Recognition and Management of National High-tech Enterprises released a notification regarding registering the initial group of high-tech enterprises acknowledged and reported by certification institutions in Guangdong...
India’s imported aluminium scrap prices record W-o-W decline amidst falling futures
The Indian market for imported aluminium scrap has experienced a recent price decline, attributed to a drop in futures despite constrained material availability. Prices across all grades of aluminium scrap have notably decreased by as much as $140 per tonne on a week-over-week basis. As per BigMint's assessment, tense scrap of Middle East origin, specifically from the UAE, has decreased by US$20 per tonne to US$1,700 per tonne. Meanwhile, scrap prices from the US have dropped by US$15 per tonne, currently standing at US$1,760 per tonne, w-o-w. Moreover, the bid-offer dynamics for specific scrap grades exhibit inconsistencies, introducing an element of uncertainty into the market; market participants are in a wait-and-watch mode, and sources are conveyed to BigMint. The three-month futures...
Q4 2023: Crown Holdings reports Y-o-Y decline of 5.38% in net sales, owing to decreased volumes in other operations
Crown Holdings, one of the world's largest aluminium can manufacturers, has disclosed its financial performance for the fourth quarter and full year ending on December 31, 2023. The company reported a net income of $450 million for the financial year 2023 (FY23), compared to $727 million in FY22, signifying a 61.5 per cent downfall. Q4 2023 results In the fourth quarter, net sales reached $2,858 million, a decrease from $3,012 million in the same period of 2022. This decline is attributed to higher beverage can volumes in America's Beverage and favourable foreign currency translation totalling $42 million. However, it was offset by a $145 million reduction in material costs and decreased volumes across most other businesses. Operating income for the quarter was $259 million, up from $229...
LME aluminium benchmark price inches up by US$1/t to US$2,184.5/t; SHFE price hikes by US$24/t
LME aluminium opened at US$2,206 per tonne on Tuesday, with its low and high at US$2,203 per tonne and US$2,242 per tonne, respectively, before closing at US$2,229 per tonne, up 1.11 per cent. On Tuesday, February 6, both LME aluminium cash bid price and LME aluminium official settlement price inched up by US$1 per tonne or 0.04 per cent to settle at US$2,184 per tonne and US$2,184.50 per tonne. 3-month bid price and 3-month offer price moved up by US$1 per tonne or 0.04 per cent and US$1.5 per tonne or 0.06 per cent to halt at US$2,220 per tonne and US$2,221 per tonne. As per the London Metal Exchange (LME) price graph , December 25 bid price and December 25 offer price added US$5 per tonne or 0.20 per cent to clock at US$2,450 per tonne and US$2,455 per tonne. On the same day, LME...
Hindalco acquires 26% stake in Ayana Renewable to power its smelter in Odisha
Hindalco Industries has acquired a 26 per cent stake in Ayana Renewable Power Four for INR 1.62 crore in its latest move towards bolstering its renewable energy portfolio. This strategic investment aims to ensure a sustainable energy supply for its smelter in Odisha, with plans to provide 100 MW of round-the-clock energy. As Hindalco solidifies its position as one of the foremost producers of primary aluminium in the nation, with manufacturing facilities spread across Uttar Pradesh, Madhya Pradesh, and Odisha, this acquisition marks a significant milestone. The transaction, completed in cash on Wednesday, now designates Ayana Renewable as an associate company of Hindalco Industries, per the disclosure made in an exchange filing. Ayana Renewable , headquartered in Bengaluru and established...
Aluminium alloy (ADC12) prices surge by INR7000/t W-o-W owing to increased imported tense scrap prices
During the week ending on February 2, 2024, base metals prices experienced a significant downturn on the London Metal Exchange (LME), with three-month aluminium futures dropping by 1.8 per cent to $2,233 per tonne, while nickel settled at $16,235 per tonne, marking a 3.3 per cent decrease. Throughout the week, spot market prices for primary aluminium ingots (P1020) experienced gains spurred by major primary players' price increases. In India, spot prices for aluminium ADC12 alloy ingots rose by INR 7,000 per tonne week-over-week to INR 197,000 per tonne, propelled by escalating local and imported tense scrap prices. Contrary to the global trend, prices in the Indian non-ferrous metals sector remained elevated. Both imported and domestic segments witnessed gains, according to evaluations...
