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2023-08-21 China's aluminium imports rise 20% in July amid low stocks BEIJING, Aug 18 (Reuters) - China's aluminium imports jumped 20.1% in July from a year earlier, customs data showed on Friday, due to low stocks and expectations for stronger demand in the autumn season. China, which is the world's biggest consumer of aluminium and also the biggest producer, imported 231,452 metric tons of unwrought aluminium and products including primary metal and unwrought, alloyed aluminium last month, according to data from the General Administration of Customs. That marked a 9.6% increase compared with June imports of 211,235 metric tons.

2023-08-21 Citi Buys $160 Million of Russian Aluminum Others Won`t Touch (Bloomberg) -- Citigroup Inc. has bought about $160 million of Russian aluminum from the London Metal Exchange, something many banks have refused to touch since the invasion of Ukraine. The US bank was behind requests to deliver about 75,000 tons of aluminum out of warehouses in Gwangyang, South Korea, that were reported by the LME on Friday, according to people familiar with the matter, who asked not to be identified discussing a private matter. The metal was originally produced by Russia`s United Co. Rusal International PJSC, they said. There are no blanket sanctions that outlaw trading in Russian aluminum, but it has nonetheless become a politically charged subject in the metals industry following Russia`s invasion of Ukraine last year. The US in February announced a 200% tariff on imports of Russian aluminum, saying the Russian aluminum industry had [played a major role in supplying Russia with weapons and ammunition used in the war." Some buyers and traders of aluminum, which is used across the construction, packaging and transportation industries, have sought to avoid supplies from Russia, either on ethical grounds or because it has become much harder to organize logistics and financing. And many banks have refused to trade or finance Russian metals since the war began. Citi itself had been avoiding metal produced by Rusal until recently, according to the people. Alongside competitors like Goldman Sachs Group Inc. and JPMorgan Chase & Co., Citi is one of a h

2023-08-17 Automakers increasingly interested in green aluminium: Novelis [The place where we see some enthusiasm and willingness - selectively, not across the board - is the automotive segment," Dev Ahuja, executive vice president and chief financial officer, told Fastmarkets on Thursday August 3. [We do have customers who are wanting to have a commitment on the tonnes [of carbon per tonne of aluminium]. They are open to discussing a pass-through of the green premium." At a level of 4 tonnes of carbon dioxide equivalent (CO2e) per tonne of aluminium produced or lower, [there would be an openness and willingness to pay a premium," he said. Novelis is also focused on increasing the amount of recycled content in its automotive sheet products, Ahuja said, citing the company`s partnership with Sortera Alloys. The Atlanta, Georgia-based aluminium flat-rolled producer and recycler mainly purchases aluminium scrap to produce its sheet products, as well as primary aluminium and sheet ingots, according to Ahuja. Scrap typically represents 61% of its raw materials mix. Destocking in the beverage can market was a main reason behind lower revenue during Novelis` fiscal first quarter, ended June 30, according to the company`s earnings report released on Thursday. Quarterly revenue dropped by 19.61% year on year to $4.09 million, from $5.09 million in 2022. Net income in the

2023-08-17 Weak aluminium packaging sector weighs on Constellium results, despite improving automotive shipments In its second quarter, which ended on June 30, Constellium`s packaging and automotive rolled products (P&ARP) segment reported a 7% year-on-year decrease in shipments at 272,000 metric tons due to lower shipments of packaging and specialty rolled products, which were partially offset by higher shipments of automotive rolled products. The segment`s revenue of €1 billion ($1.1 billion) was down by 22% year on year primarily due to the decreased shipments and lower metal prices, which were partially offset by improved price and mix, the company said. The P&ARP segment`s adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) was down by 17% year on year in the second quarter due to the lower shipments and higher operating costs, which the company linked to inflation, operating challenges at its Muscle Shoals facility in the US state of Alabama and unfavorable metal costs. The segment`s first half 2023 results also cited the same factors, which saw its adjusted Ebitda drop 24% to €134 million, shipments fall 7% to 531,000 metric tons and revenue decline 17% to €2.1 billion, all on a year-on-year comparison. Fastmarkets reported earlier this year that the packaging sector had started to weaken for many in first-quarter results for aluminium producers, with this trend now cont

2023-08-17 Base metals price mixed forecast on China stimulus pressure Rising supply headwinds for aluminium prices The Chinese government is under immense pressure to support the country`s sluggish economic recovery. During a meeting of the 24-member Politburo of the ruling Chinese Communist Party, China`s top leaders signaled that more support is on the way to help its troubled real estate sector, boost consumption and resolve local government debt. But they fell short of unveiling the large-scale stimulus package that everyone has been waiting for. However, the prospect of rising metal supplies from China continues to act as a headwind to higher aluminium prices. During the first half of 2023, China`s total primary aluminium production reached 20.16 million tonnes, a 3.4% increase compared to the corresponding period in 2022. Rising aluminium output from China supports our bearish medium-term bias on the light metal. Learn more. Positive stance

2023-08-17 China stimulus policies key to sustaining base metal price rises, Sucden Financial says Sucden Financial`s head of research, Daria Efanova, said at the company`s third-quarter metals webinar, [We continue to pay attention to the Beijing story and stimulus in particular." She added that [we have seen some recent upside in base metals, supported by the release of stimulus measures by China. The Politburo meeting last week, especially, really propped up confidence." Efanova noted that specific policies have been directed toward the supply side, with not much intended to prop up demand, especially in the consumer sector. [Confidence remains low, which remains a key detriment to consumer spending," she said. [So while positive news keeps propping up prices on the day, when they test those resistance levels they fall back down. So we`ll continue to see the effects of the stimulus- in the real economy." China`s demand for base metals China demand has been a dominant theme for base metals so far in 2023, and it was a key focus in Sucden`s first-quarter and second-quarter webinars earlier this year. On a year-to-date basis, zinc remained among the poorest performing

2023-08-17 Aluminium can inventory surplus will clear by 2025: SDI CEO The company plans to produce 300,000 tonnes of cans, 200,000 tonnes for automotive products and 150,000 tonnes for industrial products at the plant, which is the first such facility in the US to be built in 40 years. SDI`s chief executive officer Mark Millett said during the company`s second-quarter earnings call on Thursday, July 20, that he believes that buyers [panicked" in 2022 and loaded up on can inventories, much of which still has yet to be used. But given consumers` sustainability-driven shift away from the use of plastic packaging for bottled water and other fluids, by the time the Columbus mill comes online in mid-2025, any excess inventory will have cleared. [In all honesty, when our mill comes up, I think that the marketplace is going to be in a beautiful place for us to receive from," Millet said. There have been signs of short-term bearishness in the aluminium can market demand, with weaker demand weighing on the first-quarter earnings of aluminium producer Constellium, which shipped fewer cans and specialty-rolled products. In addition, Ball Corporation plans to close its Wallkill, New York, beverage packing facility on August 31, the company confirmed to Fastmarkets on June 2. The company has also closed facilities in Phoenix, Arizona, and St Paul, Minnesota, in the past year and said it will delay the construction of a new plant in North Las Vegas, Nevada.

2023-08-17 Glencore beefs up industrial aluminium activities | Hotter Commodities The next logical step would be for Switzerland-based miner-marketer Glencore to grow in aluminium. The case is especially compelling given that Glencore`s near seven-million-tonne aluminium supply deal with Russian producer Rusal, via its parent EN+ Group, comes to an end in 2024. Company chief executive officer Gary Nagle told an earnings call during the company`s 2022 results in February that Glencore`s contract with Rusal is a volume, not term, contract and should end [sometime probably towards the second half of next year." It was signed, Nagle confirmed, before the Russian invasion of Ukraine led many Western corporations and governments around the world to step away from doing business with and in Russia. Glencore has a 10.6% stake in EN+ Group, a stake it said it was reviewing last year but eventually concluded it had no realistic way of exiting. Rusal supply deal Rusal has supplied Glencore with aluminium on and off for years. The current contract dates back to 2020, with an option to extend it to 2025. While the final terms are unknown, Rusal`s board agreed to the proposed terms in 2019 and publish

2023-08-16 Flood Of Russian Aluminum Undermines Accuracy Of LME Prices MetalMiner actively posts on a variety of metals and market developments. However, we prefer to discuss topics that our clients bring to us, especially those that keep buyers awake at night. One such topic that has been recurring over recent months is the anxiety surrounding the LME aluminum quotation. Specifically, there has been a lot of talk over the LME`s potential failure to reflect the true value of global aluminum prices. Although it may be an oversimplified statement, it is essential to note that there is no single global aluminum price. Instead, every market in the world has primary aluminum prices. That said, the London Metal Exchange quotations broadly influence these prices, factoring in premiums and discounts to account for local costs, taxes, and supply/demand pressures. The primary concern keeping buyers up at night is the supply/demand position. Specifically, the worry stems from the oversupply of Russian aluminum and the limited supply of non-Russian metal on the exchange. This situation could potentially lead to an excess of the exchange`s metal coming from a supply source that too few buyers are willing to use. This, in turn, could cause the LME price to trade at a discount to its actual value. Last month, we reported wild swings in the Contango/Backwardation on the LME. This mainly stemmed from traders competing for parcels of non-Russian brands. However, the scarcity of non-Russian metal has far-reaching consequences beyond the exchange itself.

2023-08-16 Global demand has been weak, and expectations of a recovery in China lifting prices haven`t borne fruit. Aluminium prices have stayed around $2,177 per tonne in the ongoing quarter. Notably, these prices are significantly lower than they were during the previous year. LME aluminium prices had averaged $3,273 a tonne and $2,883 a tonne during the first and second quarters of 2022, respectively. Aluminium prices remained firm during the first half of 2022 after Russia invaded Ukraine. However, weakening global demand amid recession concerns in the rising interest rate environment have pulled down prices since then. The China demand, which was anticipated to pick up during 2023 after easing of covid curbs, also did not meet expectations. The decline in LME aluminium prices impacted profitability of leading aluminium makers in the June quarter. The aluminium segment of Vedanta Ltd that contributed around 35% to its overall revenues, saw a significant decline in the operating performance. The segment`s Ebitda (earnings before interest tax depreciation and amortization) declined 6.24% sequentially and 16.8% year-on-year (y-o-y). The company`s profit before tax thereby declined 4% sequentially and 43% y-o-y. Hindalco also felt a similar impact. Ebitda of the aluminium upstream segment was down 41% y-o-y and 11% sequentially.

2023-08-16 Weak outlook for aluminium as demand, prices will take time to recover NEW DELHI :Falling aluminium prices that eroded the profitability of manufacturers over the past year are likely to remain range-bound in the second half of FY23, too, experts said. Global demand has been weak, and expectations of a recovery in China lifting prices haven`t borne fruit. China`s recent export-import data was not encouraging, and its inflation print confirmed that recovery in the world`s second-biggest economy is losing steam, analysts said. [For aluminium, with Chinese smelters restarting and demand remaining weak in the western economies, the slight oversupply situation may persist at least till the end of 2023," said Jayanta Roy, senior vice-president and group head, Icra. Hence, aluminium prices may remain in the $2,100-2,300 a tonne range in the second half of the year, he added.

2023-08-16 Aluminium market is creaking as traders brace for excess stocks Spot aluminium prices have been trading at the biggest discount to futures on the London Metal Exchange (LME) since the global financial crisis, as weak demand for one of the most widely used industrial commodities reignites fears of a glut of unwanted Russian metal. The aluminium market is coming under pressure from a sharp downturn in demand, combined with a rebound in supply in top producer China and high interest rates that make it more expensive for traders to hold inventories. The mounting weakness means that traders and executives are bracing for excess stocks to hit the market - a situation made more complicated because much of the metal that`s piling up in warehouses is Russian, largely a result of [self sanctioning" by consumers and banks in the US and Europe. Cash aluminium contracts this week traded at a $54.50 discount to benchmark three-month futures on the LME, the most since 2008, in a condition known as contango that signals supply is overshooting demand in the spot market. European aluminium producer Norsk Hydro ASA said last month it expects a consumption to drop in the second half of the year, heavily driven by a downturn in global construction markets. Its sales of aluminium extrusions - used by the auto and construction sectors - were down 13% in the second quarter from a year earlier. The dramatic unravelling of the closely watched spread - the discount has only been this wide on a handful of previous occasions in data stretching ba

2023-08-16 Weak demand sends near-term LME aluminium discount to highest since 2008 LONDON, Aug 15 (Reuters) - The discount on aluminium for near-term delivery compared with the three-month contract on the London Metal Exchange (LME) has reached its highest since the global financial crisis of 2008, indicating weak demand and rising supply. Aluminium, used in transportation, construction and packaging, is widely expected to be a sought-after commodity as the transition to greener energy accelerates, though current prices are being suppressed by the sluggish demand growth in top consumer China. The discount, or contango, for cash aluminium against the three-month contract CMAL0-3 climbed to $55.50 a metric tonne at Monday's market close for its highest level since November 2008. That compared to a premium, or backwardation, of $40.50 at the end of May.

2023-08-16 Aluminum Rebound in China,A Problem Worth Considering However, due to an increase in water supply, China`s domestic production rebounded by an annualized three-quarters of a million tons over the second quarter. This raises the serious risk that Chinese imports of Russian material will decline in the second half of the year. Meanwhile, Russia has continued finding customers for its primary metal. However, European aluminum producers are now voicing concerns about Turkish semi-finished products flooding the market, supported by cheap Russian primary metal. Indeed, the potential loss of a significant proportion of Chinese demand may result in more Russian metal flooding the LME. This could lead to a pool of almost exclusively Russian metal with limited buyers. This, in turn, could potentially undermine LME aluminum prices compared to those physical buyers would have to pay for non-Russian metal. The LME may argue that mechanisms exist to accommodate such distortions. Examples include the physical delivery premium, which has always been a measure of regional demand relative to global demand. However, this premium is incapable of reflecting specific brands or origins. As we previously reported, the LME has periodically reviewed and decided against banning deliveries of Russian metal. A reason for this is concerns about the legal consequences, as Russian metal is not subject to sanctions. If a discount emerged, it could open

2023-08-16 Falling steel prices reveal glut of demolitions to come The declining price of steel prices are a barometer for the rise in demolitions in the container shipping sector according to Braemar, the London-based shipbroker. Given that scrapping prices were at a high in March 2022, at US$685ldt, as vessels delivered for demolition fell to a measly four ships in the year, prices have taken a plunge as the scrappage rate has accelerated in 2023 with demolitions expected to continue to increase into 2024 and 2025. Current prices paid by scrapyards are US$553/ldt, said Braemar, but the broker added: [From reviewing steel futures quotes, we would estimate that demo prices may drop towards US$544/ldt in Q3 2023, US$530/ldt in Q4 2023 and potentially drop below US$500/ldt sometime in Q1 2024." Demolition prices are set to fall as the increase in new vessel deliveries is set to rise to extraordinary levels, with carriers such as Maersk and MSC already phasing out older tonnage in preparation for the arrival of new, bigger, replacements. Up to 11 August this year, Braemar said 57 ships totalling 110,000 TEU had been scrapped, while in the same period last year, just four ships of 2,750 TEU had been decommissioned., with Braemar estimating a total of 105 ships, a combined 207,000 TEU, is expected to be sent for scrapping by the year`s end.

2023-08-10 China`s primary aluminium imports mount to 430,500 tonnes during January-June 2023 According to the Shanghai Metals Market data, China`s primary aluminium imports reached 89,400 tonnes in June 2023, registering an increase of 20.7 per cent month-on-month and a surge of 213.6 per cent over a year. The primary aluminium exports in June totalled 32,900 tonnes - 187 per cent more than in May 2023 and 400 per cent higher than in June 2022. From the domestic market, China secured 56,400 tonnes of primary aluminium in June 2023, which reflected a 9.8 per cent decline month-on-month but a sharp rise of 158 per cent year-on-year. China`s total imports of primary aluminium from January to June amounted to 430,500 tonnes, soaring year-on-year by 1,747.6 per cent. However, there was no upward movement in domestic aluminium ingot imports during June 2023, primarily due to narrow profits compared to overseas imports. China`s aluminium semis exports saw a month-on-month dip of 1.14 per cent and a year-on-year decline of 24.8 per cent, totalling 439,000 tonnes. Particularly, the export volume of aluminium plates/sheets, strips, and foil manifested a year-on-year downfall due to sluggish demand in the global market. However, the extrusion segment witnessed an uptick on both a monthly and annual basis. In the first half of 2023, China`s aluminium semis exports reached 2.636 million tonnes, marking an 18 per cent drop fr

2023-08-10 Aparna Enterprises plans to invest INR 50 crores to expand its aluminium business Aparna Enterprises, India's fastest-growing construction materials company, plans to spend INR 150 crores in FY24 to expand its operations and match the industry's increasing demand. A further INR 50 crores will be invested in Aparna Enterprises' tile, ready-mix concrete (RMC), and aluminium operations. This strategic commitment demonstrates the company's constant commitment to producing high-quality goods and services that meet India's ever-changing infrastructure demands. The business intends to invest INR 100 crores in creating a cutting-edge uPVC factory in Rudraram, Hyderabad, to expand the monthly output of uPVC profiles by 70 per cent, from 700 tonnes to 1,200 tonnes, and windows by 150 per cent, from 20,000 square metres to 50,000 square metres. Aparna Enterprises is well-positioned to address this demand with its comprehensive product offering, which includes tiles, RMC, uPVC doors and windows, uPVC profiles, and aluminium doors and windows. "With our business footprint spread across the country, we are determined to provide comprehensive solutions to every person and institution's diverse infrastructural needs. Our ambitious growth plans are driven by our continuous efforts to offer the best products under the Aparna Enterprises banner. We are confident that our investment in the new uPVC facility and the expansion of our tiles, RMC, and aluminium businesses will enable us to cater to the evolving needs of our customers while strengthening our market presence. We are targeting a revenue of INR 2,100 crore by the end of this fina

2023-08-10 EGA encourages the use of wearable technology to detect body heat in UAE`s scorching summer Emirates Global Aluminium, a prominent industrial organisation in the United Arab Emirates, has recently announced its successful expansion of the Kenzen wearable technology platform. This revolutionising technology has been made available to 350 employee volunteers as part of EGA's 'Beat the Heat' initiative this summer. It is well known that heat-related illness poses a significant threat to outdoor workers, particularly during the UAE summer. However, EGA has been steadfast in its commitment to eradicating this issue for over a decade now. The Kenzen wearable technology platform is an innovative solution that can help protect outdoor workers by continuously monitoring body temperature, heart rate, activity, and other vital body indicators. With this real-time data, both the wearer and EGA's safety team can detect signs of heat strain before they become too severe. Just the previous summer, EGA had tested the use of wearable devices with 50 volunteers, and this year, the company has expanded its usage to cover more employees. Despite the added heat generated by industrial processes that must run around the clock, EGA has achieved zero heat-related illnesses in 2019 and 2022. In 2021, the company recorded only two cases of heat-related illness, and both employees received swift medical attention and made a full recovery within hours.

2023-08-10 Sustainalytics awards AMAG the world's highest sustainability rating AMAG Austria Metall AG, the biggest company in the Austrian aluminium industry sector, recently achieved the best ESG rating from Sustainalytics yet again. Of 39 aluminium companies being evaluated worldwide, AMAG won the best rating, which testified the company had the lowest environmental risks. People use aluminum to make Aluminum Alloy Frame or applied to Aluminum Door Profiles and Industrial Aluminum Extrusion. AMAG's ESG program was rated comprehensive and effective by Sustainalytics, which brought the company to the 2nd position out of 223 companies from the global metals industry. AMAG achieved this rating after a multi-stage evaluation, whereby factors like environmental performance, resource conservation, compliance with human rights, and supply chain management were

2023-08-10 Brazil`s integrated aluminium company CBA reschedules its capex program The Brazilian integrated aluminium company Companhia Brasileira de Alumínio (CBA) operates in an integrated manner, from mining to the final product has adjusted its capital expenditure (capex) program's timeline due to a progressively demanding price environment. In its Q2 financial results, CBA stated, "The timeline for expansion projects will be extended, with the expected completion of some projects moving from 2025 to 2027. The main delays are the restart of pot room 1 and the technological upgrade of smelters." "The capex reduction in the quarter, primarily in the modernization and expansion item, is due to the initiatives to adjust the schedule of projects, which are multi-year and have the flexibility to be reviewed according to operational cash flow and market conditions." CBA's investment in Q2 totalled 185 million reais (equivalent to US$36 million), showing a decrease from the 234 million reais invested in the preceding three months. Upon its initial public offering (IPO) debut in 2021, the corporation, affiliated with the Votorantim industrial conglomerate, outlined a future capital expenditure (capex) plan amounting to 2.5 billion reais spanning from 2022 to 2025. The majority of these financial allocations were designated for the advancement of the Rondon bauxite project located in the state of Pará.

2023-08-09 Warwickshire solar farm to power 14,500 homes is approved A giant solar farm that will power 14,500 homes in Warwickshire has narrowly won planning permission. About 89 hectares of farmland near Harbury and Ufton are set to be covered by solar panels for up to 40 years. A vote by Stratford-on-Avon District Council's planning committee was tied at three all, with a seventh councillor abstaining.

2023-08-09 Where we can co-locate solar photovoltaics alongside infrastructure that would be there anyway There aren't many other obvious downsides to the canopies, though, says Richard Watkins at the University of Kent. He notes that installers might want to fit them with efficient under-canopy lighting so that they don't result in dark, potentially dangerous spaces at night. One hiccup facing many renewable energy projects at the moment is a lack of grid connections, since surplus energy generated by solar panels, for example, must be handled by the grid. Billions of pounds worth of renewable installations are effectively on hold because of this issue, according to BBC research.

2023-08-09 It is often cheaper to simply put solar panels on the roof of large buildings Rival companies that spoke to the BBC also described high demand for solar car park canopies. Praxia Energy, based in Spain, supplies about 3MW of car park solar installations in the UK each year and says it expects this to grow tenfold by 2028. A spokeswoman for Veolia says the company recently installed a 1.1MW solar canopy system in the car park of Eastbourne Hospital and the firm has registered increased demand for solar infrastructure in the UK lately.

2023-08-09 China's newly installed solar capacity, module exports jump in Q1 China saw robust growth in newly installed solar power capacity and exports of photovoltaic modules,such as: PV Support Fixture, PV Support Fixture, PV Support Guide...in the first quarter as supply chain prices continued to fall and strong demand from home and abroad, especially Europe, bolstered shipments. In the three months through March, China added 33.66 gigawatts of grid-connected installed solar power capacity, representing an increase of 155% year-on-year, data from the National Energy Administration (NEA) showed. The strong quarterly growth could largely be attributed to a drop in supply chain prices caused by the gradual ramping up of production capacity of photovoltaic silicon, the raw material used to make solar panels, as well as the falling price of modules, analysts said. The average price of photovoltaic modu