Aluminium Bahrain (Alba) reviewed its production operations and development projects during a visit by the Deputy King, His Royal Highness Prince Salman bin Hamad Al Khalifa, who also welcomed the company’s recent acquisition of Aluminium Dunkerque, the largest aluminium smelter in the European Union. During the visit, His Royal Highness conveyed the greetings and appreciation of His Majesty King Hamad bin Isa Al Khalifa to Alba’s national workforce. He reviewed the progress of operations across Alba’s production lines and the development projects currently being undertaken by the company. He also commended the company’s achievements, including the milestone of recording 50 million safe working hours. He also commended the efforts and dedication of Alba’s national workforce in maintaining...
LME aluminium prices softened on September 22, with the cash and three-month contracts declining from the previous trading session, while LME aluminium opening stocks also edged lower on September 23. On September 22, the LME aluminium cash bid price stood at USD 3,240 per tonne, down 0.66 per cent from USD 3,261.5 per tonne on September 21. The cash offer price was USD 3,242 per tonne , down 0.63 per cent from USD 3,262.5 per tonne. The LME aluminium 3-month bid price stood at USD 3,263.5 per tonne on September 22, compared with USD 3,272.5 per tonne on September 21, representing a decline of 0.28 per cent. The 3-month offer price fell 0.27 per cent to USD 3,264 per tonne from USD 3,273 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
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After the success of the E-Magazine “Aluminium Industry 4.0: Drivers & Change Makers” last year, AlCircle has come up with a report on the same topic, but with more information and awareness on Industry 4.0. The report titled "Industry 4.0 in Aluminium" is an attempt to highlight how the implementation of Industry 4.0 and ‘smart manufacturing’ is revolutionising the aluminium manufacturing and processing. Industry 4.0 is used interchangeably with the fourth industrial revolution and represents a new stage in the organization and control of the industrial value chain. It represents the current systems and technologies for automation, artificial intelligence, machine learning, and data exchange used in the manufacturing and industrial sector. In short, the concept of Industry 4.0 is about...
The US dollar dropped against a basket of currencies overnight after the US Federal Reserve the Federal Reserved announced aggressive asset purchases to support markets. Three-month LME aluminium rebounded to an intraday high of US$ 1,580 per tonne after plumbing its lowest since June 2016 at US$ 1,538.5 per tonne in late Asian trading hours. It later eased to end the day lower at US$ 1,560 per tonne, with the build-up of short positions primarily accounting for the loss. LME aluminium is expected to move between US$ 1,540 per tonne and US$ 1,600 per tonne today. As of Monday, March 23, LME aluminium cash (bid) price inched down from US$ 1580 per tonne to US$ 1536 per tonne. LME official settlement price dipped to the same amount from US$ 1580.5 per tonne. 3-months bid price and 3-months...
Karel Oldenburger, General Manager, commented “If those piles have just been produced and lifted out, they have another dangling point. That is aluminium at its best.” Oldenburger has been working at Damco Aluminum Delfzijl Coöperatie, or Aldel for more than a decade. He has the experience of bankruptcies in 2013 and 2017 and the 304 melting furnaces were largely turned off. The post-bankruptcy as recent as in 2017, one of the most important employers in East Groningen seemed to be closing its doors permanently. The company will be celebrating its 40 th Anniversary next year. Production has now been scaled up to 225 ovens that are in daily use - at least for the corona crisis. A party such as Aldel, which is at the front of the chain, is now also beginning to notice the consequences. "We...
On Friday, March 20, the world’s biggest aluminium producer China Hongqiao Group announced that despite a significant drop in production, it could see a rise in net profit of 12.7 per cent in 2019. According to the group, lower production costs were a significant reason for the increase in its net profit. In contrast to RMB 5.407 billion in 2018, the net profit in 2019 came in at RMB 6.095 billion, said China Hongqiao Group during a Hong Kong stock exchange filing while warning that coronavirus could have a profound impact on global supply chains. The group’s revenue in 2019 declined by 6.7 per cent to come in at RMB 84.18 billion, along with the drop in its aluminium alloy production to 5.644 million tonnes. The company attributed the higher profit to lower purchase prices for raw...
Coal production from Jamkhani coal block is expected to take Vedanta an inch closer to its goal to reduce aluminium production cost to US$ 1,500 per tonne. Vedanta Limited had acquired the Jamkhani coal block with 220 million tonnes deposits at competitive auctions in Odisha. An increase in domestic coal production will boost power supplies, a critical input in aluminium smelting accounting for around 40 per cent of the metal production cost, and will also help Vedanta reduce imports, resulting in cost savings. <iframe width="500" height="300" src="https://www.youtube.com/embed/WBvFA8cngMo" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> Srinivasan Venkatakrishnan, chief executive officer (CEO) of Vedanta Limited...
The termination of the safeguards imposed on the import of aluminium bar rods and profiles by Jordan in later part of 2019, has shown much more positive growth over the import demand. The projected import for 2020 for aluminium bar rods and profiles for has been in five figures as the volume is estimated at 10,100 tonnes. The year 2017 was recorded with 6198 tonnes as the safeguards on aluminium bar rods and profiles were imposed on the previous year. The total amount expended for the import stood at $18.82 million Jordan’s aluminium bar rods and profiles import in 2018 had seen growth by 35.89%, as the total volume of import stood at 8323 tonnes and the revenue expended was $22.51 million. In 2019 though there was a bit downfall as the total import was recorded at 8244 tonnes with...
A00 aluminium ingot price has again recorded a sharp decline of RMB 570 per tonne to stand to the further lowest at RMB 11,220 per tonne on Monday, March 23, according to Shanghai Metals Market data. On Thursday, March 19, the price had recorded a decrease of RMB 790 per tonne to RMB 11,730 per tonne. Today, the average prices are expected to range between RMB 11,200 per tonne and RMB 11,240 per tonne, with spot contract to be traded at a discount price of RMB 100 per tonne to RMB 60 per tonne. Shenyang has seen the highest decline of RMB 610 per tonne, followed by Hangzhou RMB 590 per tonne, Foshan RMB 580 per tonne, Wuxi and Linyi RMB 570 per tonne, and RMB Gongyi RMB 560 per tonne. In Tianjin and Chongqing, the A00 aluminium ingot price has reduced by RMB 540 per tonne and RMB 520 per...
The US dollar returned towards a three-year peak against a basket of currencies on Friday, after a pull-back earlier in the day. The greenback enjoyed its strongest week since the financial crisis last week as a global scramble for funding sent other currencies reeling. Three-month LME aluminium reversed earlier gains to touch a new low in three years and a half at US$ 1,575 per tonne, shortly before it ended the day sharply lower at US$ 1,577 per tonne. It is likely to move between US$ 1,540 per tonne and US$ 1,620 per tonne today. As of Friday, March 20, LME aluminium cash (bid) price continued to stand at US$ 1580 per tonne, while LME official settlement price dipped by US$ 0.50 per tonne come in at 1580.5 per tonne. 3-months bid price slipped from US$ 1606 per tonne to US$ 1603 per...
On 19 th March’20, the Aluminum Association published a framework for policymakers developing economic stimulus and other programs in response to the COVID-19 pandemic. The document – “American Aluminum Jobs: Essential to the Nation” – emphasized the paramount nature of U.S. aluminium production, fabrication and recycling and calls for several measures to support the industry during the ongoing public health crisis. Aluminium has been long time identified as a critical mineral and both the Commerce and Defence Departments have recognized the domestic aluminium industry as “vital to national security, especially in an unexpected or extended conflict or national emergency.” The aluminium industry produces many products that are essential during a public health crisis including medical...
The Italy-based aluminium alloy producer Raffmetal has extended this week’s shutdown through next week to permit employees a full two-week quarantine period amid the coronavirus pandemic. Orlando Niboli, President, Raffmetal said: "We have decided to extend the production shutdown for another week to allow all our employees to spend the necessary 14-day quarantine period at home, with a view to social responsibility and as an act of awareness and further guarantee of health safety towards our employees and their families.” Raffmetal has been operating from three plants and produces over 250,000 tonnes/ year. As per the company “The shutdown is not expected to affect product deliveries, while scrap purchases will be rescheduled for later delivery to Raffmetal's facilities.” "We will...
Azerbaijan, a country positioned at the junction point of south-western Asia with south-eastern Europe, north of Iran and south of Russia. It shipped $19.6 billion worth of goods around the globe in 2019. The US dollar amount reflects a -55.3% decline since 2015 and a -0.9% increase from 2018 to 2019. Based on the average exchange rate for 2019, the Azerbaijani manat (currency) depreciated by -65.9% against the US dollar since 2015 but remained about the same from 2018 to 2019. Azerbaijan’s weaker local currency since 2015 makes its exports paid for in stronger US dollars relatively less expensive for international buyers. Azerbaijan’s Aluminium export market has been seen volatile for the past few years; though the total aluminium export recorded during 2017-19 was 114,117 tonnes. The...
The US dollar rose against a basket of currencies for a third straight day on Thursday, March 18. Three-month LME aluminium slipped to lowest since September 2016 at US$1,579.5 per tonne in the final minutes of Asian trading session. It ended lower at US$1,629.5 per tonne. Shanghai Metals Market expects the contract to trade at US$1,580-1,630 per tonne today. As on Thursday March 19, LME aluminium cash (bid) price stands at US$ 1580 per tonne, LME official settlement price stands at US$ 1581 per tonne; 3-months bid price stands at US$ 1606 per tonne, 3-months offer price is US$ 1607 per tonne; Dec 21 bid price stands at US$ 1722 per tonne, and Dec 21 offer price stands at US$ 1727 per tonne. The LME aluminium opening stock stood at 1009100 tonnes. Live Warrants totalled 839575 tonnes, and...
The outcome of the Corona crisis has forced customer sectors in Germany and Europe to halt or significantly reduce production. The automotive business, in particular, represents an industrial baseload in the aluminium industry. Marius Baader, MD, General Aluminum Association Gesamtverband der Aluminiumindustrie e. V. (GDA), Düsseldorf said:"The German aluminium industry is looking at current developments with great concern.” The number of break-offs from companies in the aluminium industry, primarily from the automotive business and mechanical engineering, had already shown de-growth previous year. The manufacturers of extruded products felt the drop in demand most severely; their production in Germany already lost around 10 % in 2019. Marius Baader added, "In the first quarter of 2020 we...
Hydro expects the outbreak of the coronavirus (Covid-19) to have limited impact on its operations. The company sees operational impact is currently limited, but significant market uncertainty combined with government-imposed restrictions is expected to affect operations. President & CEO Hilde Merete Aasheim said: “My top priority is the safety and wellbeing of all employees and contractors in Hydro. As a global, responsible company, Hydro is taking part in the collective effort to help mitigate the situation, while limiting impact on our operations, to the extent possible.” Most of the company’s operations are running at normal production levels, but with increased uncertainty and with likely increasing impact on demand and activities. “Hydro is following recommendations from local and...
Hindalco Industries Limited has reduced the prices of its aluminium ingots by 1.26%. With effect from March 19, the price for Hindalco aluminium ingots now stands at INR 136,750 per tonne, from INR 138,500 per tonne on March 18. This is the third time in a row that the company has dropped the prices of its products. The prices of wire rods and billets have declined by 1.17% and 1.21% to stand at INR 147,350 per tonne and INR 143,350 per tonne on Thursday, 19 March 2020. The prices of these products were INR 149,100 per tonne and INR 145,100 per tonne on March 18. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down nearly 10% in the current quarter due to slower...
According to Shanghai Metals Market, the social inventories of primary aluminium ingots have gained 54,000 tonnes over the week ended March 19, across eight major consumption areas in China, including SHFE warrants. The inventories are thus, now 1.647 million tonnes, in contrast to 105,000 tonnes on last Thursday, showed the SMM data. The continuous stack of primary aluminium inventories indicates muted demand for the metal among the downstream consumers, as end-use product productions are at halt across China. The chart below indicates the current status of Chinese primary aluminium inventories in more details: Wuxi this week has seen the highest growth in social primary aluminium inventories of about 34,000 tonnes, followed by Nanhai 18,000 tonnes and Shanghai and Hangzhou 7,000 tonnes....
The economy of Bangladesh is a developing market economy and it the 39 th largest in the world in nominal terms, and 29 th largest by purchasing power parity. It is classified among the Next Eleven emerging market middle income economies and a frontier market. In the first quarter of 2019, Bangladesh's was the world's seventh fastest-growing economy with a rate of 7.3% real GDP annual growth. The demand for the aluminium importation in Bangladesh is showing a recovery trend. But the domestic aluminium production is not showing a positive trend. The total import of aluminium by Bangladesh from 2017-19 stood at 282,291 tonnes, whereas the import projected for 2020 stands at 95,534 tonnes. When added with the previous 3 years the total import reflects at 377,825 tonnes. In 2017 the total...
Logan Aluminum, an aluminium rolling mill with 1300+ employees in Russellville, Logan County, Kentucky, nestled in beautiful rolling hills and surrounded by trees, nature, and wildlife. The Kentucky based aluminium company has been in full effort to deliver information from appropriate sources, assessing risks, and has implemented adjustments to their business with the specific outcome to keep their employees, families, and their community safe and healthy. As of 18 th March’20, Logan Aluminium has not been reported of any employee health and safety issues or business hampering as a result of COVID-19. The company has advised its employees for social distancing as key critical prevention. All business units are aligned in this belief and are working with employees to exercises...
