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THINK ALUMINIUM THINK AL CIRCLE
The ongoing Russia-Ukraine crisis has changed a lot of things in the industry. From the domestic aluminium prices witnessing a hike over the past week to Alcoa influencing the Biden administration to prevent American imports of Russian aluminium, it has brought about a lot of differences. As a result, aluminium prices rose by more than 3 per cent. Also, the embargo on Russian aluminium jeopardises the world market's ability to recover from various crises. It raises the question of whether China, the world's largest aluminium producer, can fill the supply gap. The possibility that the London Metal Exchange might restrict the entry of Russian metal, Beijing's support for domestic producers, and production reductions in both Europe and China, according to Platts Analytics, have all contributed to an increase in domestic aluminium prices in China over the past week.
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The silvery metal aluminium has unblocked new dimensions in the last decades, as endless objects that can be simplified and upgrade the quality of daily human life are relatively made from aluminium.
According to Platts analytics, domestic aluminium prices in China have increased over a week based on the possibility that the London Metal Exchange may curb the entry of Russian metal, Beijing’s support for domestic producers, and production cut in both Europe and China.
To know more: https://www.alcircle.com/news/lme-plans-to-limit-aluminium-trade-with-russia-chinese-producers-to-reap-benefit-84836
The LME aluminium prices on 11th October 2022 witnessed a glide following Bloomberg's report that the United States is considering a complete ban on Russian aluminium. The ban on Russian aluminium jeopardizes conquering a global market already stumbling from several disarrays while emphasizing if the world's largest aluminium-producing nation, China, could infuse the supply gap.
To know more: https://www.alcircle.com/news/joe-biden-s-administration-considering-a-complete-ban-on-russian-aluminium-84832
The global leader in low-carbon aluminium production, Rusal, announces the appointment of Roman Andryushin as Rusal's Deputy CEO, Sales and Marketing Director. As part of the Company's long-term strategy to grow and expand its presence, the appointment supports its long-term growth strategy.
To know more: https://www.alcircle.com/news/rusal-appoints-roman-andryushin-as-deputy-ceo-sales-and-marketing-director-84818
The chief executive of Greek aluminium and energy company MYTILINEOS, Evangelos Mytilineos, has been elected as the President of Eurometaux (Europe’s metals association) at the association’s General Assembly. He succeeds Mikael Staffas, CEO of Boliden, who has held this post since October 2018.
To know more: https://www.alcircle.com/news/eurometaux-elects-evangelos-mytilineos-as-its-new-president-84834
Following the recent military escalation in Ukraine, Alcoa is pressing the Biden administration to obstruct U.S. aluminium imports from Russia. As a result, aluminium prices increased by more than 3 per cent.
To know more: https://www.alcircle.com/news/alcoa-influencing-biden-administration-for-u-s-import-restrictions-on-russian-aluminium-85834
According to the Romanian aluminium producer, Alro SA, one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, the company was declared a "selected investor" following a public tender organized by Complexul Energetic Oltenia (CEO) to build a natural gas fired power plant at Isalnita together.
Hindalco Industries Limited has expanded its aluminium ingot and aluminium product prices in line with the global aluminium benchmark price increase. As of Friday, October 14, Hindalco’s latest aluminium ingot price closed at INR 223,750 per tonne, up by INR 13,750 per tonne from INR 210,000 per tonne on the previous day.
To know more: https://www.alcircle.com/news/hindalcos-aluminium-ingot-price-uptrends-by-inr-13-750-t-after-two-back-to-back-cuts-85836
On Thursday, October 13, LME aluminium cash bid price skyrocketed by US$147.50 per tonne or 6.63 per cent to stand at US$2,373.50 per tonne and LME aluminium official settlement price soared by US$147 per tonne or 6.60 per cent to rest at US$2,374 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-price-soars-6-6-to-stand-at-us2374-t-shfe-builds-up-by-us26-t-85832
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On Friday, October 14, China’s A00 aluminium ingot price expanded by RMB 220 per tonne to settle at RMB 18,700 per tonne, with the average prices ranging between RMB 18,680 per tonne and RMB 18,720 per tonne. The spot contract price is expected to be traded at a discount price of RMB 110 to RMB 70 per tonne.
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