Mercuria, Glencore explore Venalum aluminium smelter deal as Venezuela eyes production revival
Venezuela’s biggest aluminium smelter, Venalum, could be heading for a fresh start as Mercuria Energy Group Ltd. and Glencore Plc explore a potential deal that could bring new investment and operating expertise to the facility that has spent years producing only a fraction of its original capacity....
Macro rate hike expectations pressure aluminium prices, while China's continued destocking underpins the market
Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 24,000 per tonne, down RMB 190 from yesterday's settlement price, a decline of 0.79 per cent. It opened at RMB 24,100.00 per tonne during the day and fluctuated within a range of RMB 23,920-24,100 per tonne. The price traded below...
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Metro Mining signs binding agreement with Xiangsen Aluminium
Metro Mining Limited has signed a binding agreement for the supply of 790,000 Wet Metric Tonnes (WMT) bauxite for delivery in 2021 with Xiamen Xiangsen Aluminium Limited (Xiangsen Aluminium). The contract schedules tonnage from September through to December and is in addition to the company’s...
Saudi Arabia’s import of aluminium tubes and pipes during 2019-20 demonstrates downfall; 11% growth estimated for 2021
According to the Government estimates, Saudi Arabia's economy grew for the first time since the Covid-19 pandemic in the second quarter propelled by a 10.1% growth in the non-oil sector. However, the International Monetary Fund expects the Saudi economy to grow by 2.4% this year. The Kingdom of...
Alumina spot price in China sees a spike to close at RMB2898/t; Aluminium fluoride price exceeds RMB8000/t
The average alumina spot price in China has seen a spike today, on August 31, marking a steady rise since the end of July 2021, found the Shanghai Metals Market. Data shows alumina price has come in at RMB 2,898 per tonne as of August 31, surging by RMB 96 per tonne. In Shanxi and Henan, alumina...
2020: Japan’s export of aluminium scrap displays five nations absorbed 57% volume of total trade
Japan ranks as the world's third-largest automobile manufacturing nation and is also recognized as the largest electronics goods industry. However, the major Japanese export industries comprise automobiles, consumer electronics, computers, semiconductors, and iron and steel. Furthermore, the...
Six Southern California companies convicted for evading payment of $1.8 billion in duties on imported Chinese aluminium
On 23 rd August 2021, a federal jury found six corporate entities guilty of participating in a wide-ranging conspiracy to defraud the United States via a wire-and-customs fraud scheme in which huge amounts of aluminium – disguised as “pallets” to avoid $1.8 billion in customs duties – were exported...
Xinjiang Prefecture directs five Chinese aluminium smelters to reduce production
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. Reuters calculations have...
World alumina production gains 3% to stand at 12.234 million tonnes in July 2021: IAI
World alumina production in July 2021 amounted to 12.234 million tonnes, reflecting a month-on-month growth of 3.18 per cent from 11.857 million tonnes, found the International Aluminium Institute. On a year-on-year basis, the production stood 7.95 per cent higher than 11.333 million tonnes. In the...
China’s primary aluminium inventories grow by 12,000 tonnes to 753,000 tonnes on August 26
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased by 12,000 tonnes this week to come in at 753,000 tonnes as of Thursday, 26 August 2021. The chart below shows the status of the primary aluminium...
China’s aluminium billet inventories slip 6,200 tonnes this week to stand at 124,400 tonnes: SMM
According to the Shanghai Metals Market, aluminium billet inventories in China have declined this week after three consecutive weeks of growth from August 5 to 19. SMM data shows inventories have decreased by 6,200 tonnes across five major consumption areas to come in at 124,400 tonnes as of...
Alumina price in China climbs by RMB 6/t; Aluminium price stands at RMB 20540/t
The alumina price in China has registered a hike of RMB 6 per tonne. The price stands at RMB 2757 per tonne on Thursday, 26 August, from 2751 per tonne, as updated by Shanghai Metals Market. The prices of alumina in Shandong, Guizhou and Guangxi markets have risen to stand at RMB 2760 per tonne,...
ASI certifies Yunnan Haoxin Aluminum Foil Co., Ltd. against Performance Standard Certification
According to a recent report, Aluminium Stewardship Initiative has successfully certified Yunnan Haoxin Aluminum Foil Co., Ltd. against Performance Standard certification for aluminium re-melting, refining and rolling activities. The facility has an annual production capacity of 200,000 tonnes of...
China’s alumina imports see a surge of 92% M-o-M to 526,900 tonnes in July’21; Australia accounts for 69% of imports
According to China Customs data, China imported 526,900 tonnes of alumina in July 2021, which reflected an increase of 91.66 per cent from the previous month and 26.27 per cent from a year ago. From January to July, China’s alumina imports totalled 1.94 million tonnes, however, a decrease of 17.73...
World primary aluminium production edges 3% higher M-o-M to 5.747 million tonnes in July 2021: IAI
World primary aluminium production in July 2021 amounted to 5.747 million tonnes, which was an increase of 3.4 per cent from 5.558 million tonnes a month ago, according to the latest data from the International Aluminium Institute. However, the output of world primary aluminium in June edged 3.67...
China Hongqiao’s net income rises by 187.5% in six months
China Hongqiao Group announced record earnings in six months on higher aluminium prices. The Group’s net income stood at 8.14 billion yuan ($1.25 billion) in January-June, an increase of 187.5% from a year earlier. Revenues increased by 31.4% to 52.48 billion yuan as Shanghai aluminium prices were...
A00 aluminium ingot price in China opens the week higher at RMB20360/t; Imported alumina price grows by US$5/t
A00 aluminium ingot price in China has jumped by RMB 260 per tonne to open the week on Monday, August 23, at RMB 20,360 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,340 per tonne and RMB 20,380 per tonne, with spot contract to be traded at a...
Weekly update: Aluminium ingot price ended the week higher; Alumina price remained flat
SMM aluminium ingot price saw mixed performance over the week. The week started with a growth of RMB 200 per tonne to stand at RMB 20250 per tonne on Monday, 16 August. The price settled lower at RMB 20230 per tonne on Tuesday. The price on Friday, August 20, stood higher at RMB 20100 per tonne,...
“The global rise in Aluminium prices is only a spike driven by strong market sentiments, not by market fundamentals", Dr Tapan Kumar Chand, Resident Director - Vedanta & Former Chairman cum Managing Director of National Aluminium Company (NALCO)
AlCircle team received a great opportunity to interview Dr Tapan Kumar Chand , Resident Director - Vedanta & Former Chairman cum Managing Director of National Aluminium Company (NALCO) following the virtual event of “Indian Aluminium Summit”. AlCircle: What is the major reason behind the surge in...
China’s imports of aluminium ores and concentrates slip 15.7% to 9.25 million tonnes in July 2021
According to China Customs data, imports of aluminium ores and concentrates shrank by 15.7 per cent year-on-year in July 2021 to stand at 9.25 million tonnes. That brought the total imports of aluminium ores and concentrates in the first seven months of 2021 to 64.41 million tonnes, down by 7.1 per...
