Primary aluminium weekly: AL Circle and the aluminium industry at large grieve the demise of Mr Bhavani Shankar Pani

The primary sector witnessed a great loss last week when news about Mr Bhavani Shankar Pani came floating. A member of Utkal Chamber of Commerce (UCC), and the former DGM (Technical) of NALCO closed his eyes on Saturday, 11:20 PM, at HCG Oncology Hospital in Bengaluru. Team AL Circle is saddened by this untimely demise and wishes good health to the grieving family members. Aluminium Bahrain B.S.C. (Alba) is proud to announce that it has received the ISO 18788:2015 Certification, which recognizes its superior Quality Management System, making it the first industrial company in Bahrain to receive this certification. The LME aluminium price index has risen over the week by 1.74 per cent or US$39 per tonne, if we compare last Friday (May 26) with this Thursday (June 1). LME was closed on Monday due to Spring Bank Holiday. The SHFE aluminium price has also spiked 1.67 per cent or US$43 per tonne from US$2,580 per tonne on Monday (May 29) to US$2,623 per tonne on Friday (June 2).

Team AL Circle is deeply saddened by the demise of Mr Bhavani Shankar Pani, a member of Utkal Chamber of Commerce (UCC), and former DGM (Technical) of NALCO. He breathed his last on Saturday, at 11:20 PM, at HCG Oncology Hospital in Bengaluru.

To know more: https://www.alcircle.com/news/al-circle-mourns-the-demise-of-mr-bhavani-shankar-pani-95028

Aluminium Bahrain B.S.C. (Alba) announced that it secured ISO 18788:2015 Certification, which represents its high-end Quality Management System. The world’s largest aluminium smelter outside China takes immense pride in becoming the first industrial company in Bahrain to have received this certification. 

To know more: https://www.alcircle.com/news/alba-becomes-the-first-industrial-firm-in-bahrain-to-have-received-iso-18788-2015-certification-95037

EGA or Emirates Global Aluminium, which is the biggest industrial company in the United Arab Emirates, aside from oil and gas, recently announced that it would be introducing the SafeStart programme to the region.

To know more: https://www.alcircle.com/news/ega-initiates-safestart-programme-for-enhanced-workplace-safety-in-uae-95043

Alro, a Romanian aluminium producer, announced that it had signed a memorandum of understanding (MoU) with Azeraluminium, an aluminium firm in Azerbaijan, to discover routes to upgrade their technical and economic capabilities through mutual cooperation.

To know more: https://www.alcircle.com/news/alro-inks-mou-with-azeraluminium-to-upgrade-technical-and-economic-capabilities-95065

Rio Tinto, a well-known mining corporation in Australia, has recently announced a significant profit from New Zealand aluminium smelter located in Tiwai Point.

To know more: https://www.alcircle.com/news/rio-tinto-makes-122-million-underlying-profit-from-tiwai-point-aluminium-smelter-in-2022-95071

The global aluminium industry witnessed a volatile month, May 2023, regarding the metal's price. Although there were some price moments, the range remained between USD$100-USD$150. This article cites some of the key highlights of the industry in May 2023.

To know more: https://www.alcircle.com/news/key-highlights-from-the-global-aluminium-industry-may-2023-95081

Founded in North East England in 1973, K Home International, a family-run engineering firm that has worked on projects worldwide, is celebrating 50 years in business.

To know more: https://www.alcircle.com/news/engineering-firm-k-home-international-marks-its-golden-jubilee-celebration-95089

LME aluminium opened at US$2,243.5 per tonne on Thursday, with its low and high at US$2,233.5 per tonne and US$2,292.5 per tonne respectively before closing at US$2,270 per tonne, up US$23 per tonne or 1.02 per cent.

To know more: https://www.alcircle.com/news/lme-benchmark-aluminium-price-faces-15-56-y-o-y-decline-on-june-1-shfe-aluminium-dips-us42-t-95077

On Friday, June 2, the A00 aluminium ingot price in China has hiked by RMB 170 per tonne to settle at RMB 18,570 per tonne, with the average prices between RMB 18,550 per tonne and RMB 18,590 per tonne. The spot contract price is expected to be traded at a premium price of RMB o to RMB 40 per tonne.

To know more: https://www.alcircle.com/press-release/chinas-a00-aluminium-ingot-price-expands-by-rmb170-t-alumina-price-loses-rmb4-t-95078

According to Au Jibun Bank, Japan's manufacturing purchasing managers' index (PMI) improved to 50.8 in May 2023. This is a favourable development since it suggests that operational circumstances have improved for the first time since October 2022.

To know more: https://www.alcircle.com/news/non-ferrous-metal-prices-like-aluminium-grow-by-0-3-to-us2-237-t-95045

At the beginning of the last week, aluminium prices of Indian giants like Hindalco and Vedanta trended downwards in line with the LME aluminium price drop but increased later as the global benchmark price speared up. 

To know more: https://www.alcircle.com/news/aluminium-prices-of-hindalco-vedanta-nalco-recorded-sluggish-last-week-during-may-23-25-95050

China’s aluminium ingot inventories descended week-on-week across the eight central consumption zones, including SHFE warrants, to halt at 595,000 tonnes as of Thursday, June 1, marked Shanghai Metals Market in the weekly aluminium inventory chart. 

To know more: https://www.alcircle.com/news/chinas-aluminium-ingot-inventory-slumps-9-44-w-o-w-due-to-heightened-consumption-june-1-95091