Camel Group is investing approximately VND 2.7 trillion (USD 106 million) in a new aluminium packaging factory in Quang Tri, Vietnam, with an annual production capacity of up to 1 billion packaging products. Covering nearly 10 hectares, the facility is being developed in two phases. The first phase involves an investment of around VND 2.3 trillion (USD 90 million) and is designed to produce 700 million units annually. The second phase will receive nearly VND 400 billion (USD 16 million), adding capacity for another 300 million products a year. To learn the growing contribution of aluminium flat rolled products in the packaging sector, explore our report " ALuminium in Packaging: Consumer Trends and Market Dynamics " Le Quang Thinh, a member of Camel Group’s Board of Directors, said the...
Futures: SHFE aluminium closed at RMB 23,170 per tonne in the daytime session (down 0.22 per cent), moving sideways. Prices barely held above the MA5 (23,111) but were capped by the MA10 (23,199) and MA30 (23,352), with the bearish alignment of moving averages unchanged. The MACD formed a golden cross below the zero axis (DIF -132.31, DEA -150.30), with the red histogram expanding to 35.98, but trading volume shrank sharply to 43,600 lots, and the volume-price divergence limited the rebound height. The core trading range for SHFE aluminium is suggested at 22,900-23,400. LME aluminium closed at USD 3,082 per tonne (up 0.31 per cent). Prices held above the MA5 (3,063.8), MA10 (3,072.5), and MA30 (3,068.4), but remained capped by the MA60 (3,166.4), in a weak recovery phase within the...
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According to Tesmanian and Reuters report, the new Tesla car factory in Brandenburg, Germany, may source eight Gigapress Machines from IDRA, specialised in diecasting machines, for the production of a single module aluminium diecasting. The single module aluminium diecasting will replace 70 components glued and riveted into the car’s rear underbody for Tesla’s new Model Y, said the company’s CEO Elon Musk. This is just a start of the new automation, with the vehicle’s front parts and other big structure parts to follow. “Will be amazing to see it in operation! Biggest casting machine ever made. Will make the rear body in a single piece, including crash rails,” Musk communicated over social media on 13th August. However, neither Tesla nor IDRA wanted to comment on the current development....
National Aluminium Company Limited (NALCO) has decreased its aluminium products price after hiking it for the fourth time in a row. With effect from Friday, 11 September 2020, NALCO's aluminium ingots price stood at INR 147,850 – 151,350 per tonne, registering a decline of INR 2,200 or 1.47 per cent from INR 150,050-153,550 per tonne on August 14. The company is selling its aluminium billets at INR 151,300- 152,800 per tonne on September 11, a drop from INR 153,500-156,150 per tonne on August 14. The aluminium wire rods price came in at INR 149,150-153,500 per tonne on September 11, down from INR 153,550 – 157,900 per tonne on August 14. Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month...
The Defence Research & Development Organisation (DRDO) of India has successfully conducted a test on 7 th September of its wholly indigenous Hypersonic Technology Demonstrator Vehicle (HSTDV) which has been under development for well over a decade. HSTDV took-off aboard an Agni missile booster rocket from the APJ Abdul Kalam testing range on Wheeler Island off Balasore, Odisha. The rocket reached an altitude of 30 kilometres (about 98,425 feet) when the HSDTV separated, its air intake opened, which then automatically triggered the firing of the air-breathing scramjet or supersonic ramjet. The combustion prolonged for more than 20 seconds, with the vehicle achieving a cruise velocity of Mach 6 (about 7400 km/h at this altitude), the main criteria to deem the test a success. DRDO said: “The...
According to a recent report, National Aluminium Company has initiated the process of increasing its wind portfolio to 223.9 MW by adding 25.5 MW of new wind power capacity to renewable energy portfolio. The news came after Nalco’s Chairman and Managing Director Sridhar Patra said in a report that the company is adding a new wind project in Tamil Nadu with a capital expenditure of INR 163 crore. Mr Patra said NALCO is in the “process of augmenting its wind power generation capacity to 223.90 MW by adding another wind power project of capacity 25.5 MW at Kayathar, Tamil Nadu, at a capital expenditure of Rs 163 crore through REGen Powertech Pvt Ltd.” Currently, the company has an established wind energy portfolio of 198.4 MW across the country. Patra added, “Substantial progress has been...
Vedanta has declined its aluminium products price after twenty days of restraint. With effect from Friday, 11 September 2020, the prices of some aluminium ingots are in the range of INR 145,750-158,750 per tonne, marking a drop of INR 1,250 per tonne from INR 147,000-160,000 per tonne on Saturday 22 August 2020. With the latest decline, Vedanta’ billet now stands at INR 153,750 per tonne on September 11, a decrease of INR 1,250 per tonne from INR 155,000 per tonne on August 22 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 so far due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of Production (CoP) in...
Foreign automakers are reportedly seeking delays and exemptions to India’s new quality rules for imported auto parts. According to them, regulations on imported auto parts will increase the costs of finished products, hurt sales, and disrupt the overall supply chains, said the sources with direct knowledge of the matter. India’s Hon’ble Prime Minister Narendra Modi is keen to implement new planned regulations to curb imports and boost local manufacturing in line with his self-reliance programme. However, the move is primarily aimed at slashing the amount of lower-quality imports from China. "There is short term pain but there is long term gain," Commerce Minister Piyush Goyal told an auto convention last week, saying India has become a dumping ground for low-quality goods by not having...
The Chicago headquartered Motorola Inc. rolls-out its highly-awaited new foldable smartphone the Motorola Razr 5G. The flip phone comes with a 6.2-inch display with 21:9 aspect ratio while the secondary display is 2.7 inch. Motorola Razr 5G runs on Qualcomm Snapdragon 765G processor. The device has a 48 MP camera with Quad Pixel technology that provides 4x the low light sensitivity. The selfie camera is of 20 MP and comes handy for video calls, offering a high-quality immersive experience. The rear side of the phone’s plastic body is replaced by 7000 series aluminium with polished 3D glass, which delivers an eminent, eye-catching look. The smartphone comes in three colours options - Polished Graphite, Liquid Mercury and Blush Gold. It has a tapered chin, rear-mounted fingerprint sensor...
Hindalco Industries is well-positioned for a bounce back in the second half of the current financial year (FY21). “We should be back to pre-Covid levels in the second half of FY21," Hindalco Chairman Kumar Mangalam Birla told shareholders at the company’s 61st annual general meeting held in Mumbai. Birla said: “The Indian economy delivered subdued performance last year with FY20 GDP (gross domestic product) growth falling to 4.2 per cent. We witnessed contraction in the first quarter (Q1) on account of widespread shutdowns. Despite this slump in Q1, activity levels are gradually normalising and I remain confident that India’s long-term growth potential remains intact despite the setback.” Hindalco’s upstream plants are operating at near full capacity with all logistics infrastructure...
Estonia's economic freedom score is 77.7, making it's economy the 10th freest in the 2020 Index and the country is ranked 5 th among 45 countries in the Europe region, and its overall score is well above the regional and world averages. Oil shale energy, telecommunications, textiles, chemical products, banking, services, food and fishing, timber, shipbuilding, electronics, and transportation are key sectors of the economy. The Northern European Nation’s aluminium scrap export during 2017-19 has been recorded at 26,612 tonnes and the revenue earning collected was $24.98 million. The estimated export for 2020 has been figured out at 8765 tonnes and revenue generation to stand at $7.35 million. However, when the export volume and earnings for 2020 gets added with the previous three years it...
According to a recent report, LAlumina LLC is close to the process of employee retrenchment due to the continued economic challenge, as was announced months ago. The news came after former acting plant manager Peter Odgers said the process of laying off more than 300 employees is nearly completed. His last day at work was on August 28, and now only a skeleton crew remains to maintain the 2,500-crore complex’s mine waste ponds, known as red mud lakes or red mud ponds. As per the report, company officials are looking for a possible buyer for the facility, which has been in Ascension Parish since the 1950s and has one of the largest, deep water terminals on the lower Mississippi River. But local economic development and state regulators seem to have no knowledge regarding the latest affair....
According to a Reuters report, Shanghai Futures Exchange (ShFE) has announced the new plan to launch alumina futures contract by the first half of 2021. The contract was slated for launch in 2019. "We hope for a first-half listing," Ge Wanwan, senior manager at the ShFE said at the sidelines of the China International Copper Forum in the southeastern city of Xiamen. China has some of the most liquid commodities futures markets. Shanghai exchange currently trades futures contracts in aluminium, copper, zinc, lead and flagship steel products. The country also plans to gain more traction from foreign investors and companies and has international futures products such as crude oil and iron ore. According to data from the China's National Bureau of Statistics, alumina production in China came...
A00 aluminium ingot price climbed by RMB 30 per tonne to stand at RMB 14610 per tonne on Friday, 11 September 2020, after remaining flat at RMB 14580 per tonne for a day . The price is expected to range at RMB 14590-14630 per tonne. In Foshan and Wuxi, the price rose by RMB 10 per tonne and RMB 25 per tonne to stand at RMB 14700 per tonne and RMB 14590 per tonne on September 11. Their average prices are expected to range within RMB 14680-14720 per tonne and RMB 14570-14610 per tonne. Aluminium ingot prices in Hangzhou, Shenyang, Linyi, and Gongyi increased to stand at RMB 14615 per tonne, RMB 14605 per tonne, RMB 14620 per tonne, and RMB 14485 per tonne. The price in Chongqing dropped by RMB 20 per tonne to RMB 14560 per tonne. The aluminium alloy (ADC12) price stood at RMB 14200 per...
Thyssenkrupp Aerospace has made public a three-year extension to its contract with Mitsubishi Heavy Industries Canada Aerospace Inc. (MHICA). The agreement which commenced in 2018, thyssenkrupp Aerospace conducts material for aluminium wing planks, including procuring, receiving, inspecting, and storing planks directly from the mills at its facility in Montreal. The material is drilled and tapped on demand for just-in-time delivery. Jürgen Funke, Chairman and CEO of thyssenkrupp Aerospace North America, said: “The continuation of our contract with MHICA is a sign of their confidence and trust in our relationship. Under our ‘Materials as a Service’ approach, we reduce the complexity of MHICA’s supply chain with access to global markets, custom supply chain solutions, material processing,...
On the London Metal Exchange, nonferrous metals finished in negative territory on Thursday, September 11, with aluminium slipped by 0.31 per cent. LME aluminium cash (bid) price and LME official settlement price stood at US$ 1743.50 per tonne on September 10, up by US$ 3.50 per tonne from US$ 1740 per tonne on September 9. 3-months bid price and 3-months offer price hovered at US$ 1781 per tonne versus US$ 1777.50 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1858.50 per tonne. The LME aluminium opening stock extended decline to 1524075 tonnes. Live Warrants stood at 1303000 tonnes, while Cancelled Warrants at 221075 tonnes. LME aluminium 3-months Asian Reference Price hovered at US$ 1774.90per tonne. SHFE Aluminium Price Trend Benchmark aluminium...
When the COVID-19 pandemic hit the Apple Island’s shores in March’20, many Tasmanian businesses received a financial blow, but a partnership is supporting five businesses in the West Tamar to move ahead towards the future. The West Tamar Council and Rio Tinto's Bell Bay Aluminium smelter united to form a movement for the Recovery, Economic and Resilience Grants to assist businesses with a share of $50,000. Patronizing an application and assessment process, five businesses secured $10,000 each across marine, food manufacturing, adventure tourism and education sectors. The successful recipients include Pivot Maritime International, Launceston Kayak Tours, A Pinch of Tasmania, Learning Partners and the Commercial Dive Academy. Shona Markham, General Manager, Bell Bay Aluminium said: “Being...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased this week. Inventories stood 764,000 tonnes as of Thursday, 10 September 2020, up 3,000 tonnes from a week ago. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi, and Gongyi increased by 8,000 tonnes and 5,000 tonnes from a week ago to 249,000 tonnes and 87,000 tonnes as of Thursday, 10 September 2020. Stocks in Shanghai and Chongqing remained unchanged at 120,000 tonnes and 3,000 tonnes. Inventories of aluminium in Nanhai, Hangzhou, Tianjin and Linyi stood at 173,000 tonnes, 76,000 tonnes, 51,000 tonnes, and 5,000 tonnes. That was down 2,000...
According to a recent report, India is planning to raise surveillance and develop policies that would curb aluminium and copper shipments from China and other Asian nations and protect domestic producers. The news came after two government sources and an industry official familiar with the matter reported. These moves for the more stringent screening of imports are aimed at reducing dependence on overseas markets and pushing economic self-reliance, according to the federal mines ministry’s letter to the commerce ministry late last month. Government sources said the aim of tighter surveillance would be to move aluminium and copper imports onto a restricted items list, which would require importers to get a government-issued license for every shipment. However, India’s federal mines and...
Shanghai Metals Market data shows aluminium billet inventories in China have gained 3,400 tonnes over the week ending on Thursday, September 10, on increased arrivals of stocks to warehouses. According to the data, inventories are standing at 63,600 tonnes versus 60,200 tonnes last Thursday, September 3. The chart below indicates the current status of aluminium billet inventories across China in more details: Aluminium billet inventories in Nanchang have seen the highest rise of 1,150 tonnes over the week to stand at 13,200 tonnes, as of Thursday, September 10. In Foshan and Huzhou, inventories have increased by 1,100 tonnes and 1,000 tonnes, respectively, to come in at 17,000 tonnes and 10,000 tonnes, while that in Changzhou and Wuxi have grown by 340 tonnes and 160 tonnes to hover at...
