Primary aluminium weekly: INTA vice-chair backs aluminium’s entry in EU’s strategic raw material list; Alcoa increases price to combat reducing shipment

The exclusion of aluminium from the strategic raw material list put down by the European Commission has raised fundamental questions about the long-term future of the primary sector. Anna-Michelle Asimakopoulou, the vice-chair of the European Parliament's International Trade Committee (INTA), explained how bauxite has been included, the raw material used in extracting aluminium. At the same time, the 100% per cent recyclable variant has been removed. Alcoa, the eighth largest aluminium producer, records a price hike for declining orders and posts an 18.92 per cent year-on-year revenue fall. The gradually declining state of the western economy has kept a check on the LME aluminium price, with it falling this week by US$86.50 per tonne or 3.62 per cent to rest at US$2,302 per tonne on Thursday, April 27, from US$2,388.50 per tonne recorded last Friday, April 21. Whereas SHFE aluminium prices were stable throughout the month, maintaining a position of US$2,700 per tonne, more or less. This week the SHFE aluminium price has been on a downward stride with a loss of US$68 per tonne or 2.48 per cent, from US$2,738 per tonne on Monday to US$2,670 per tonne on Friday.

The International Aluminium Institute (IAI)'s most recent monthly assessment shows that during the first three months of 2023, the world's primary aluminium production increased by 2.0 per cent y-o-y to 16.9 million tonnes. Restarts and reductions in aluminium production outside of China mainly balance each other, resulting in a plateau.

To know more: https://www.alcircle.com/news/yunnan-weather-forecast-may-influence-china-s-aluminium-production-93676

Oetinger Aluminium GmbH, a leading producer and supplier of casting alloy ingots, has obtained ASI Chain of Custody (CoC) Standard V2 (2022) Certification for the Weißenhorn and Neu-Ulm production sites in Germany. Oetinger, thus, represents the first entity in Europe to have received the updated CoC Standard V2, launched in May 2022. 

To know more: https://www.alcircle.com/news/oetinger-aluminium-gmbh-represents-europe-as-the-first-recipient-of-asi-coc-standard-v2-2022-certification-93682

Anna-Michelle Asimakopoulou, the vice-chair of the European Parliament's International Trade Committee (INTA), pointed out that removing aluminium from the EU's list of strategic raw resources by the European Commission is highly unacceptable.

To know more: https://www.alcircle.com/news/aluminium-must-be-a-part-of-the-strategic-raw-materials-list-says-vice-chair-of-inta-93721

According to the International Aluminium Institute, the world's primary aluminium production in March 2023 stood at 5.772 miilion tonnes, bringing the total output in the first quarter to 16.895 million tonnes. The monthly production in March increased by 9.63 per cent from 5.265 million tonnes in February but remained almost restrained compared to 5.774 million tonnes a year ago.

To know more: https://www.alcircle.com/news/worlds-primary-aluminium-production-improves-2-y-o-y-during-1q2023-amid-muted-output-in-march-93685

According to a report published on Monday, April 24, South32, a leading mining and metals company headquartered in Perth, is close to meeting production guidance across most of its operations for the financial year to end June 30, 2023.

To know more: https://www.alcircle.com/news/south32-on-track-to-meet-production-guidance-for-the-year-ending-in-june-aluminium-output-till-q3-records-15-growth-93692

According to the US Census Bureau data, domestic primary aluminium production in February 2023 was 59,000 tonnes, reflecting a decline of 5,000 tonnes or 7.81 per cent month-on-month. In January, the US primary aluminium output was 64,000 tonnes, muted from the previous month.

To know more: https://www.alcircle.com/news/us-primary-aluminium-production-plummets-by-21-y-o-y-during-feb23-93696

According to the International Aluminium Institute, Africa’s primary aluminium production during the first quarter of 2023 ended March 31, stood at 392,000 tonnes, down by 3.21 per cent or 13,000 tonnes from 405,000 tonnes during Q4 2022. On a year-on-year basis, the output edged a drop of 1.26 per cent from 397,000 tonnes.

To know more: https://www.alcircle.com/news/africas-primary-aluminium-production-falls-3-2-q-o-q-during-1q2023-amid-monthly-rise-in-march-93708

The aluminium production in China for the rest of the months of 2023 might need to be clarified. Although, when compared to the same month last year, China's primary aluminium output escalated by 3 per cent in March. The growth was more sedated than in earlier months. However, this did provide some relief, as the future of output and the price of aluminium globally appears less promising.

To know more: https://www.alcircle.com/news/china-s-aluminium-production-rose-by-3-y-o-y-in-march-despite-production-cuts-in-yunnan-93714

Alcoa Corporation, the world’s eighth largest producer of aluminium, announced the first quarter 2023 results, reporting steady revenue earning at $2,670 million compared to $2,663 million in the previous quarter, attributed to the 8 per cent increase in average-realized third-party alumina price and 7 per cent in aluminium price. However, on a year-on-year calculation, the revenue decreased by 18.92 per cent from $3,293 million, as higher prices were partially offset by reduced shipments.

To know more: https://www.alcircle.com/news/alcoa-reports-consistent-revenue-earning-at-2-670-million-for-1q2023-as-higher-aluminium-price-offset-reduced-shipment-93725

In March 2023, the year-on-year (y-o-y) increase in Australia's monthly Consumer Price Index (CPI) was 6.3 per cent, a decrease from the 6.8 per cent rise witnessed in February 2023. This figure was also lower than the market anticipation of 6.5 per cent. The drop represented the third consecutive month of declining annual inflation and marked the "slowest growth rate" since May 2022. 

To know more: https://www.alcircle.com/news/negative-trends-continue-in-non-ferrous-metal-prices-93728

According to the Shanghai Metals Market survey, social inventories of primary aluminium ingot across eight major consumption areas, including SHFE warrants, stood at 853,000 tonnes on Thursday, April 27, experiencing a plunge of 53,000 tonnes week-on-week from 906,000 tonnes. Compared to Monday, April 24, the inventories decreased by 32,000 tonnes from 885,000 tonnes.

To know more: https://www.alcircle.com/news/chinas-primary-aluminium-inventories-continue-to-fall-w-o-w-by-53-000-tonnes-majorly-contributed-by-wuxi-93733

On Friday, April 28, China’s A00 aluminium ingot price has slipped by RMB 90 per tonne to stand at RMB 18,480 per tonne, with the spot contract price expected to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. The average prices are expected to range between RMB 18,460 per tonne and RMB 18,500 per tonne.

To know more: https://www.alcircle.com/press-release/chinas-a00-aluminium-ingot-price-closes-the-week-with-a-decline-of-rmb90-t-low-carbon-aluminium-price-slips-by-rmb79-t-93722

LME aluminium opened at US$2,332 per tonne on Thursday and closed at US$2,326 per tonne, down 0.21 per cent. Growing concerns around inflation in the West have simultaneously raised brows in the trade sector, with LME maintaining a below US$2,500 per tonne mark and the Chinese inventories on a destocking spree.

To know more: https://www.alcircle.com/news/lme-benchmark-aluminium-price-marks-us37-5-t-slump-shfe-aluminium-price-increases-by-us16-t-93723

The manufacturing sector can increase productivity, optimize operations and reduce customer complaints by automating tasks. Artificial intelligence, machine learning, and process automation combined with intelligent automation (IA) can reduce labour costs and optimize production.

To know more: https://www.alcircle.com/news/automation-can-boost-efficiency-in-the-manufacturing-sector-ibm-93680