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THINK ALUMINIUM THINK AL CIRCLE
This week brought us a plethora of news from the global primary aluminium industry right from world primary aluminium production to Emirates Global Aluminium’s target of floating an IPO in 2022.
According to a report on Monday based on the International Aluminium Institute’s data, world primary aluminium production in July 2021 amounted to 5.747 million tonnes, an increase of 3.4 per cent from 5.558 million tonnes a month ago. On a year-on-year calculation, world primary aluminium production in July was up by 5.20 per cent from 5.463 million tonnes. Total production from January to July came in at 39.284 million tonnes, 4.62 per cent more than 37.548 million tonnes during the same period last year.
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Primary aluminium production in Africa grew 5,000 tonnes or 3.85 per cent month-on-month to come in at 135,000 tonnes in July 2021. But on a year-on-year basis, Africa’s primary aluminium production in July stood flat, according to IAI.
During August 23-26, the LME aluminium benchmark price rallied by US$ 26 per tonne from US$ 2609 per tonne to US$ 2,635 per tonne. 3-months bid price and 3-months offer price grew from US$ 2,589 per tonne on August 23 to US$ 2,614.50 per tonne on August 26.
A00 aluminium ingot price in China surged RMB 270 per tonne through the week from August 23 to August 27. The price started the week at RMB 20,360 per tonne and closed at RMB 20,630 per tonne, according to the Shanghai Metals Market.
China’s social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased 12,000 tonnes this week to come in at 753,000 tonnes as of Thursday, 26 August 2021. Primary aluminium stocks in Gongyi contributed the largest share due to higher arrivals of cargoes. The inventories stood at 69,000 tonnes on Thursday, 26 August 2021, up by 24,000 tonnes from 45,000 tonnes on 19 August.
To know more: https://www.alcircle.com/news/chinas-primary-aluminium-inventories-grow-by-12-000-tonnes-to-753-000-tonnes-on-august-26-70210
National Aluminium Company Limited reported that it increased its aluminium ingot price by INR 8,000 per tonne from INR 218,750- 222,250 per tonne on August 20 to INR 226,750-230,250 per tonne on August 25. NALCO links its aluminium ingot price to the three-month futures of aluminium on the London Metal Exchange, which after August 20 climbed by US$ 78.50 per tonne to stand at US$ 2,647.50 per tonne as of August 25.
The world-class aluminium producer, Press Metal Aluminium Holdings Bhd is in a potential position to take the advantage of the rising LME aluminium spot prices in 4Q, provided that its Samalaju Phase 3 facility is anticipated to be just weeks away from being fully operational. The Malaysian aluminium company’s 2Q21 core net profit was RM256 million, which was a bit below RHB's expectations but in line with that of consensus at 33.6% and 36.8% of full-year estimates respectively.
To know more: https://www.alcircle.com/news/malaysian-aluminium-giant-press-metal-to-enhance-production-capacity-in-2h-2021-70200
Mecfor, the Saguenay-based North American leader in specialized mobile equipment for the aluminium and rail industries, announced that they fully merged their operations. The newly formed company will be known as EPIQ Machinery. Mecfor and Advanced Dynamics, two companies with shared values and complementary expertise, have merged to seize a unique opportunity to make EPIQ Machinery a North American leader in mobile and heavy equipment for the aluminium, pulp and paper, and rail equipment industries.
According to a recent report, five Chinese aluminium smelters will require to reduce production starting from this month as a prefecture in Xinjiang region has imposed output limits to stamp out illegal production, which sent Shanghai aluminium prices to a 13-year high. Xinjiang is a major smelting hub in China that accounts for one-fifth of the supply to the world’s biggest producer and consumer of aluminium.
To know more: https://www.alcircle.com/news/xinjiang-prefecture-directs-five-chinese-aluminium-smelters-to-reduce-production-70219
The leader in global aluminium production, as well as one of the largest companies in the UAE, Emirates Global Aluminium (EGA) is considering a prospective IPO in 2022, as reported by industry sources, which could be one of the substantial share sales in the United Arab Emirates lately. EGA is currently reviewing proposals from banks that pitched for advisory roles, the sources said.
To know more: https://www.alcircle.com/news/emirates-global-aluminium-contemplating-to-float-ipo-in-2022-70215
When the COVID-19 pandemic is continuing to hurl severe challenges at all the verticals of the aluminium value chain, AlCircle is determined to delve into the current market trend to be able to envisage the future in their latest report on “Outlook for the Indian Aluminium Industry - In-depth industry analysis & forecast to 2026-27”. The report shows the aluminium usage is estimated to rebound to 3.5 million tonnes in FY2022 from 3.19 million tonnes in FY21 as the industry embarks on the recovery path striving to reach pre-Covid levels. And over the next five years to 2026-27, the aluminium usage in India is forecast to grow at a CAGR of 6.7 per cent to reach at 4.84 million tonnes. To get a copy of the report, reach us at booking@alcircle.com. Alternately, click here to buy your copy directly.
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