Weekly Downstream Recap: EU suspends tariffs on US aluminium & steel; Indian companies cut aluminium products prices

The global downstream aluminium sector has been eventful this week, with the European Union’s decision to suspend tariffs on the United States aluminium and steel exports to Constellium, a global manufacturer of aluminium rolled products, announcing new members to the Board and China’s unwrought aluminium and aluminium products imports grown to record high. Let us here take a quick recap of each event spotted this week during May 17-21.

According to a report this week, the European Union and the United States have mutually agreed to discuss and resolve trade disputes around aluminium and steel, and until then, the former has decided to suspend tariffs on the latter. Following the United States announcement of additional tariffs on the European Union’s aluminium and steel in March 2018, the EU imposed retaliatory duties on a list of US imports worth €2.8 billion. In June 2021, the EU was supposed to add further €3.6 billion tariffs on the US to fully offset the effects of the Trump tariffs but temporarily suspended to give dialogue a chance to succeed.

To know more: https://www.alcircle.com/news/eu-suspends-tariffs-on-us-aluminium-and-steel-both-countries-seek-long-term-solutions-to-trade-disputes-66288

Constellium announced new members to the Company’s Board for the three years term The company has appointed Isabelle Boccon-Gibod, Christine Browne, Jean-Christophe Deslarzes and Jean-Philippe Puig as new Non-Executive Directors.

To know more: https://www.alcircle.com/news/constellium-announces-new-non-executive-directors-to-its-board-66297

The last manufacturer of aluminium rims in France, Alvance wheels is placed in receivership and needs to find a buyer urgently. The CGT metallurgy unions in Indre are calling for a demonstration towards support on May 22 in Saint-Maur.

To know more: https://www.alcircle.com/news/france-alvance-wheels-future-remains-gloomy-cgt-metallurgy-unions-in-indre-to-demonstrate-on-may-22-66323

In April 2021, China’s unwrought aluminium and aluminium products imports rose 36.1 per cent month-on-month and 165.2 per cent on-year to come in at 281,139 tonnes.

To know more: https://www.alcircle.com/news/chinas-unwrought-aluminium-and-aluminium-products-imports-grow-record-high-at-281-139-tonnes-in-april-2021-66284

The European Aluminium Foil Association (EAFA) showed aluminium foil deliveries from European foil rollers stood at 245,000 tonnes in the first quarter of 2021, an increase of 2.3 per cent from 239,500 tonnes in 2020. EAFA also reported that domestic demand witnessed modest improvement, achieving 0.9% growth in the same period.

To know more: https://www.alcircle.com/news/eafa-reports-2-3-increase-in-european-aluminium-foil-deliveries-in-q1-2021-66287

SMM report this week showed operating rates at major aluminium processors in China increased 1.7 percentage points last week ended on May 14, with aluminium extrusion segment witnessing the biggest rise driven by demand recovery in the construction sector. Operating rates in the aluminium wire and cable industry rebounded slightly due to the concentrated delivery orders.

To know more: https://www.alcircle.com/news/china-s-major-aluminium-processors-of-extrusion-to-secondary-alloy-witness-growth-in-operating-rates-thanks-to-demand-recovery-in-real-estate-66295

China’s aluminium billet inventories decreased 16,600 tonnes or 15.8 per cent across the five major consumption areas this week ending on Thursday, May 20, bringing the stocks to 88,600 tonnes across the five major consumption areas. The fall in aluminium billet inventories this week could be attributed to active consumption on the occasion of domestic aluminium price plunge.

To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-shrink-15-8-to-stand-below-100-000-tonnes-this-week-smm-66315

National Aluminium Company Limited (NALCO) sharply reduced its aluminium products and aluminium ingot prices by INR 8,800 per tonne or 4 per cent with effect from Wednesday, May 19. NALCO’s aluminium wire rod price stood at INR 209,050-213,400 per tonne, while its aluminium billets price ranged between INR 209,000-211,650 per tonne. With the latest hike, NALCO’s aluminium ingot price stood at INR 205,550-209,050 per tonne.

To know more: https://www.alcircle.com/news/nalcos-aluminium-wire-rod-and-billets-prices-cut-by-inr8800-t-in-line-with-w-o-w-decline-in-lme-aluminium-benchmark-price-66302

Hindalco Industries Limited reduced aluminium products and aluminium ingot prices by INR 3,500 per tonne with effect from May 20. Hindalco’s aluminium wire rod and billet prices stood at INR 213,850 per tonne and INR 209,850 per tonne, respectively, while its aluminium ingot price came in at INR 213,350 per tonne.

To know more: https://www.alcircle.com/news/hindalcos-aluminium-wire-rod-and-billets-prices-experience-further-cut-of-inr3500-t-on-may-20-66314

Vedanta Limited decreased aluminium wire rod and billets prices by INR 5,500 per tonne or 2.5 per cent to INR 210,000-217,500 per tonne and INR 210,500 per tonne, respectively.

To know more: https://www.alcircle.com/news/vedanta-reduces-its-aluminium-wire-rod-billet-prices-by-over-2-with-effect-from-may-20-66325