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THINK ALUMINIUM THINK AL CIRCLE
According to a report from the International Aluminium Institute this week, primary aluminium production in Africa grew 4.62 per cent month-on-month in May to stand at 136,000 tonnes. On a year-on-year calculation, the output stood 3,000 tonnes lower than 139,000 tonnes. In the first five months of 2021, primary aluminium production totalled 651,000 tonnes, down by 3.41 per cent from 674,000 tonnes a year ago.
To know more: https://www.alcircle.com/news/primary-aluminium-production-in-africa-falls-4-62-m-o-m-to-136-000-tonnes-in-may-2021-67680
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The United States Geological Survey reported that the US domestic primary aluminium production stood 4 per cent or 3,000 tonnes lower at 72,000 tonnes in April 2021, compared to 75,000 tonnes in March. On a year-on-year calculation, the output in April edged 21.74 per cent or 20,000 tonnes lower than 92,000 tonnes. Daily average production in the said month was 2,410 tonnes, unchanged from that in March and 21 per cent less than in April 2020.
To know more: https://www.alcircle.com/news/us-domestic-primary-aluminium-production-drops-4-m-o-m-to-72-000-tonnes-in-april-2021-67704
On June 28, NALCO reported a nine-fold leap in consolidated profit at INR 935.74 crore for the quarter ended on March 31, 2021, powered by strong operational performance and favourable prices. Nalco’s consolidated income rose to INR 2,874.47 crore when compared to INR 2,042.27 crore in the year-ago period.
To know more: https://www.alcircle.com/news/nalco-books-nine-fold-leap-in-q4-profit-inr-to-935-74-crore-67685
The Russian government’s press service confirmed that the aluminium produced in Russia would be facing an export tariff of 15% plus $254 per tonne from August 1 through December 31, 2021. On 25th June 2021, Russian Prime Minister Mikhail Mishustin signed an official decree towards the approval of export duties on 340 non-ferrous and steel products. Primary aluminium, under harmonized system code 760110, will also be taxed.
To know more: https://www.alcircle.com/news/russia-imposes-an-export-tariff-of-15-plus-254-per-tonne-on-aluminium-67691
The construction of the first commercial-scale prototype cells of ELYSIS’ inert anode technology commenced at Rio Tinto’s Alma smelter in Saguenay-Lac-Saint-Jean, Quebec, eliminating all direct greenhouse gases from aluminium smelting, which is considered a major step forward. The Honourable Francois-Philippe Champagne, Minister of Innovation, Science and Industry joined representatives from ELYSIS, Alcoa, and Rio Tinto to mark the commencement of construction and announce a further $20 million financial contribution from the Government of Canada to support the project.
Vedanta Limited floated an attractive offer for Micro, Small and Medium Enterprises (MSMEs) in the manufacturing industry observing the World MSME Week. As per the promotional statement, under the company’s Vedanta Saathi programme MSMEs could obtain a discount of INR 500 per tonne on the first 500 tonnes of purchase in aluminium and on other company produced commodities on a first come first served basis, highlighting the fact that scheme would be active for this week only, ending July 3, 2021.
According to the Shanghai Metals Market, social inventories of primary aluminium gained 2,000 tonnes this week across eight major consumption areas, including SHFE warrants. Thus, the inventories came in at 876,000 tonnes as of Thursday, July 1.
National Aluminium Company Limited (NALCO) sharply increased its aluminium ingot and aluminium products prices by INR 9,600 per tonne or 4.6 per cent on Wednesday, June 30. That brought its aluminium ingot price at INR 212,850-216,350 per tonne in comparison with 203,250-206,750 per tonne on Friday, June 25.
European Aluminium Association notified that Ingrid Jörg, President Aerospace and Transportation at Constellium, has been appointed as Chair Person of the association with effect from July 1, 2021.
LME aluminium cash (bid) price and LME official settlement price built-up US$ 61.50 per tonne this week ended on July 2. The week started the week on June 28 at US$ 2,458 per tonne and ended on Friday at US$ 2,519.50 per tonne. 3-months bid price and 3-months offer price increased by US$ 57.50 per tonne this week from US$ 2,477.50 per tonne to US$ 2,535 per tonne. Dec 22 bid price and Dec 22 offer price hiked US$ 51.50 per tonne to end the week at US$ 2,488.50 per tonne as of July 2.
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