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THINK ALUMINIUM THINK AL CIRCLE
On 20th May 2021, three-month LME aluminium fell 2.49% to close at US$ 2,554 per tonne. The world primary aluminium production stood at 5.560 million tonnes in April 2021, reflecting a month-on-month downfall of 3.20% from 5.744 million tonnes, as revealed by International Aluminium Institute. On a year-on-year calculation, the output in April edged higher by 5.26% from 5.282 million tonnes.
On the other hand, the trusted source of commercial intelligence for the world's natural resources sector, Wood Mackenzie’s analysis has indicated that a long-term rise in price for copper is likely to counter serious contention from aluminium.
Let us check some of the top-rated global primary aluminium news, which kept the week progressive:
Three-month LME aluminium fell 2.49 per cent to close at US$ 2,554 per tonne on Thursday, 20th May 2021. It is expected to trade between US$ 2,400-2,480 per tonne on 21st May 2021. The contract will keep fluctuating weakly following SHFE aluminium.
World primary aluminium production stood at 5.560 million tonnes in April 2021, reflecting a month-on-month downfall of 3.20 per cent from 5.744 million tonnes, showed the International Aluminium Institute. On a year-on-year calculation, the output in April edged higher by 5.26 per cent from 5.282 million tonnes.
Hydro has teamed up with Everfuel for coordinated development, operation, and optimization of hydrogen electrolysers based on renewable energy in Europe. The use of carbon-free hydrogen in aluminium production will contribute towards Hydro’s global commitment to reduce its greenhouse gas emissions by 30% by 2030.
To know more: https://www.alcircle.com/news/hydro-signs-mou-with-everfuel-for-renewable-energy-based-hydrogen-66321
The trusted source of commercial intelligence for the world's natural resources sector, Wood Mackenzie’s analysis has indicated that a long-term rise in price for copper is likely to counter serious contention from aluminium.
To know more: https://www.alcircle.com/news/copper-might-face-serious-competition-from-aluminium-over-price-rise-issue-wood-mackenzie-66318
Shanghai Metals Market found a week-on-week decline of 41,000 tonnes in primary aluminium ingot inventories to stand at 1.02 million tonnes as of Thursday, May 20. Stocks fell across eight major consumption areas in China except for Chongqing as the last two consecutive days of decrease in A00 aluminium ingot price has bolstered the purchase and consumption of primary aluminium.
Vedanta Limited has increased its aluminium ingot and aluminium products prices by INR 1,500 per tonne with effect from Wednesday, May 19, following two consecutive cuts last week on May 13 & 15. Vedanta’s aluminium ingot price has come in at INR 208,000-221,000 per tonne compared to INR 206,500-219,500 per tonne on May 15.
A00 aluminium ingot price in China has recorded a sharp fall of RMB 440 per tonne on Thursday, May 20, to come in at RMB 19,110 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 19,090 per tonne and RMB 19,130 per tonne, with spot contract to be traded at a premium price of RMB 10-30 per tonne.
To know more: https://www.alcircle.com/news/a00-aluminium-ingot-price-in-china-plummets-by-rmb440-t-amid-muted-input-costs-smm-66309
Three-month LME aluminium fell 1.48 per cent to close at US$ 2,429.50 per tonne on Wednesday, May 19. It is expected that the contract will trade between US $2,350-2,450 per tonne today.
RUSAL is moving ahead for a demerger of its higher carbon assets to unlock value through the creation of two businesses with separate strategies. The Board of Directors has granted approval to a proposal from management, which is in line with the Company’s ambitious environmental goals and strategy to achieve carbon neutrality by 2050.
Century Aluminum Company has reportedly elected two new officers – John Dezee as Executive Vice President, General Counsel and Secretary and Matt Aboud as Senior Vice President, Strategy and Business Development. Both the officers will assume new roles on an immediate basis.
SMM aluminium ingot price registered a decline of RMB 310 per tonne on Wednesday, 19 May 2021. The price stood at RMB 19550 per tonne, from RMB 19860 per tonne on May 18. The price is expected to move within a range of RMB 19530-19570 per tonne today.
Three-month LME aluminium fell 1.22 per cent to close at US$ 2,466 per tonne on Tuesday, May 18. As the US dollar index continued to weaken in the near term, it is expected that LME aluminium will try to continue to repair the recent decline today. It is expected to trade between US$ 2,450-2,550 per tonne today.
The New Zealand Aluminium Smelter at Tiwai Point is confident in its environmental record after releasing 25 years of monitoring reports on Tuesday, May 18, to prove its commitment toward transparency and collaboration. The company has confirmed that it expects to release the contamination of soil and groundwater report by mid of this year.
The Government of Scotland has not discarded to take over an aluminium smelter and a steelworks into public ownership if the situation demands to safeguard the jobs.
To know more: https://www.alcircle.com/news/scottish-government-not-discards-to-take-over-gfg-assets-into-public-ownership-66298
Century Aluminum announced on Monday, May 17, that Mike Bless would retire as President and Chief Executive Officer and also step down from the board on July 1, 2021. He served Century Aluminum for 15 years, including nearly 10 years as CEO.
The management of the Fort William aluminium smelter in Lochaber has conveyed to the area’s chamber of commerce that the plant operations are continuing as usual amid the commencement of a Serious Fraud Office (SFO) investigation into the activities of its owners, GFG Alliance.
India’s largest producer of aluminium and value-added aluminium products, Vedanta Aluminium on 15th May 2021, observing the occasion of International Day of Families 2021, declared the COVID Kavach (Shield) Term Insurance Policy for employees of business partners across its plants in Jharsuguda and Lanjigarh in Odisha, and BALCO in Korba, Chhattisgarh.
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