Primary Aluminium Weekly Recap: China’s aluminium ingot price plunged by RMB 410/t; Century Aluminum increased its production capacity at Mt. Holly aluminium smelter

Primary aluminium sector witnessed expansions and announcement of production data. LME price ended higher this week, while SMM aluminium ingot price trended downward. Let's recapitulate some of the top aluminium news from primary aluminium sector.

LME aluminium cash (bid) price and LME official settlement price started this week on Tuesday, June 1, with a surge of US$ 57 per tonne to US$ 2,461.50 per tonne. The price increased to close the week on June 4 at US$ 2,412.50 per tonne.

To know more: https://www.alcircle.com/news/lme-aluminium-price-slowed-down-this-week-to-settle-at-us2412-50-t-shfe-price-closed-lower-at-us2854-t-66476

SMM aluminium ingot price witnessed downward trend this week. Aluminium price plunged by RMB 410 per tonne on Friday, 4 June 2021 to RMB 18260 per tonne. The price is expected to move within a range of RMB 18240-18280 per tonne.

To know more: https://www.alcircle.com/news/weekly-update-aluminium-ingot-price-in-china-saw-downward-trend-this-week-alumina-price-performed-higher-66477

New Zealand’s only aluminium smelter, NZAS has a reported loss and a large write-down of its assets at a time when aluminium prices are recovering. Pacific Aluminium has reported a net loss after tax of $100 million at the Tiwai Point smelter and an asset write-down of $223 million for the financial year ending December’20.

To know more: https://www.alcircle.com/news/rio-tinto-operated-new-zealand-aluminium-smelter-at-tiwai-point-post-100-million-loss-for-2020-66415

Iran's aluminium production stood at 42,480 tonnes during the first month of the current fiscal year (ended April 20).That was up by 36% from 31,280 tonnes in the corresponding period of last year, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

To know more: https://www.alcircle.com/news/iran-s-aluminium-production-stands-36-higher-during-the-first-month-of-the-current-fiscal-year-66422

The premium for aluminium shipments to Japanese buyers has been set at $185 per tonne for July-September. The premium is higher by 24-25 per cent from the current quarter, reported sources involved in market pricing.

To know more: https://www.alcircle.com/news/japan-aluminium-buyers-to-pay-24-25-higher-premiums-in-q3-66430

As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to decline this week. The stocks dropped by 8,000 tonnes from the week before to 954,000 tonnes as of Thursday, 03 June 2021.

To know more: https://www.alcircle.com/news/chinas-primary-aluminium-inventories-continue-to-decline-to-954-000-tonnes-on-june-3-66460

State-backed research house Antaike said on Thursday, June 3, that primary aluminium production in China is expected to increase until 2024, after which secondary or recycled metal will claim a bigger share of consumption.

To know more: https://www.alcircle.com/news/primary-aluminium-production-in-china-estimated-to-grow-until-2024-antaike-66463

Constellium, the City of Issoire, and Dalkia have signed an agreement to launch the Energ'Iss heating network project. Constellium installed a system to collect residual heat at the exit of its furnaces. T Dalkia is will install a heat exchanger to provide heat and hot water to some 40 buildings and homes in the city of Issoire.

To know more: https://www.alcircle.com/news/constellium-signs-agreement-with-the-city-of-issoire-and-dalkia-to-launch-the-energ-iss-project-66466

Century Aluminum will expand production capacity at Mt. Holly aluminium smelter. The expansion is likely to be completed by the end of 2021. The company also announced an investment of more than $60 million to create 100 new jobs in Berkeley County at its Mt. Holly plant.

To know more: https://www.alcircle.com/news/century-aluminum-to-expand-production-capacity-at-mt-holly-aluminium-smelter-66473

REEL International on 1st June has acquired GE Steam Power’s Aluminum AQCS (Air Quality Control Systems) Technology portfolio and related business in Norway.

To know more: https://www.alcircle.com/press-release/reel-international-acquires-the-aluminium-emission-control-business-of-ge-steam-power-in-norway-66450

Vedanta cut its aluminium products price by more than 2%. With effect from Friday, 4 June 2021, the prices of some aluminium ingots have declined by INR 5,000 per tonne to stand at INR 201,750-214,750 per tonne as against INR 206,750-219,750- per tonne on June 2. The company’s billets price stands at INR 209,750 per tonne.

To know more: https://www.alcircle.com/news/vedanta-cuts-its-aluminium-ingots-price-by-inr-5-000-t-66467

NALCO sharply increased its aluminium ingot and aluminium products prices with effect from Tuesday, June 1, after three cuts in a row since May 19. NALCO has raised its aluminium ingot price by INR 8,000 per tonne or 4 per cent to INR 204,350-207,850 per tonne.

To know more: https://www.alcircle.com/news/nalcos-aluminium-ingot-price-sees-a-sharp-rise-of-inr8000-t-or-4-with-effect-from-june-1-66455