Italian aluminium window and door components manufacturer Master Group has unlocked a new chapter in its growth strategy as European private equity platform Equinox IV acquired a 60 per cent stake in the company. The investment, made in partnership with the founding Loperfido-Lacatena family, is aimed at reinforcing Master’s international expansion, boosting its production capacities and pursuing strategic acquisitions, with the ambition of building a leading European industrial group. The acquisition is the second investment in Equinox IV’s log book. The Loperfido-Lacatena family retains a 40 per cent stake, with co-founder and CEO Michele Loperfido would continue to lead the business alongside his children, Annacarla and Stefano, and the existing senior management team. To know the...
Hydro and Mercedes-Benz have expanded their long-standing partnership through a new long-term agreement covering the supply of low-carbon primary and recycled aluminium, strengthening efforts to reduce emissions across the automotive supply chain. The agreement will cover at least 10 per cent of Mercedes-Benz's primary aluminium demand and extend beyond 2030. Under the agreement, Hydro will progressively lower the carbon footprint of the primary aluminium supplied to Mercedes-Benz to 3.5 kg of CO2e per kg by 2028. The partnership will also introduce Hydro CIRCAL recycled aluminium, which contains at least 75 per cent post-consumer aluminium scrap, into Mercedes-Benz production from 2027. The agreement builds on the companies' collaboration established in 2022 and provides long-term demand...
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Canada’s Members for House of Commons, Mario Simard and Alexis Brunelle-Duceppe proposed the federal government to invest $ 200 million for the creation of a sector fund dedicated to aluminium processing and carbon-neutral aluminium production. According to the Parliamentary Budget Officer, the $ 200 million resulting from the 2018 counter-tariffs has still not gone to the industry. The Bloc members are therefore calling on the government to use this amount as a motor for development in the secondary and tertiary processing sectors. At the same time, they also want this fund to promote the development of the green aluminium industry. The sector fund would be a blessing for the aluminium sector, as it can benefit from significant leverage to reduce supply chains. Mario Simard said: “Right...
According to a recent report, the United Kingdom’s secondary aluminium prices extended rise on Wednesday, August 26, as limited regional supply drove LM24 ingot prices above the levels seen before the COVID-19 pandemic. The UK secondary aluminium market suffered considerably due to the COVID19 outbreak and the resulting industrial lockdown to contain the spread of the virus. All related UK industry effectively ground to a halt in March when carmakers, the main consumer of secondary metal, shut their factories. Priced plunged along with the demand coming to a complete halt practically overnight. Price of UK aluminium scrap, LM24 pressure diecasting ingot, was at £1,000-1,050 ($1,312-1,378) per tonne on March 25, after the first major European car manufacturers announced partial closures,...
Italy’s exports of aluminium semi-finished products (plates, sheets, bars, etc.) to the US stood at 1,230 tonnes in May 2020, with a year-on-year decrease of 58% from 2,950 tonnes in May 2019, according to the latest Mineral Industry Survey report from the US Geological Survey. Aluminium semi-finished exports dropped by 31% from April’s export volume of 1,780 tonnes. In the first five months of 2020, exports of semi-finished to the US dropped 61% from the same period a year earlier. Exports stood at 6,590 tonnes in January-May as compared to 16,700 tonnes in May 2019. Italy exported 7,250 tonnes of total aluminium including scrap to the US in the first five months of 2020, from 17,500 tonnes in the first five months of 2019. This marks a decrease of 58.57% year-on-year. In May, exports...
The CSN-affiliated Federation of Manufacturing holds that if the United States rebuffs to withdraw the 10% tariff recently imposed on Canadian aluminium than the Canada Government should tentatively end the planned opening in the Canada-United States-Mexico Agreement (CUSMA) for dairy products and those under the auspices of the supply management system. The union which claims its presence in the Quebec aluminium industry believes that a temporary return to supply management before the CUSMA would have a remarkable impact in agricultural states like Wisconsin, which recalls they are important electoral targets for President Donald Trump. Michel Desbiens, President of the National Union of Aluminum Employees of Baie-Comeau-CSN, adds: “If Canada can no longer count on its long-standing...
China Zhongwang Holdings Limited, a world-leading fabricated aluminium products developer and manufacturer, has announced its unaudited interim results for the first half of 2020 ended on June 30. The company’s total sales volume during the period stood approximately at 351,637 tonnes, with revenue amounting to RMB 8.66 billion (approx.). Profit was around RMB 530 million, while earnings per share RMB 0.07. Mr. Lu Changqing, Chairman and President of China Zhongwang, said, "Major breakthroughs will be seen in the application of aluminium alloy products in areas that are significantly beneficial to the society as new infrastructure construction (the "new infrastructure") is being carried out gradually in the relevant fields, coupled with the acceleration of the industrialisation of...
The alumina price in China continued to remain flat over the week. The price on Monday, August 24, increased by RMB 17 per tonne to stand at RMB 2347 per tonne. The price did not show any movement on Tuesday, Wednesday and Thursday. The price stood higher at RMB 2360 per tonne on Friday, August 28. The average Bauxite (4.5≤Al/Si＜5.5) price in Shanxi stands at RMB 390 per tonne on Friday, 28 August 2020, an increase of RMB 10 per tonne, after remaining flat at RMB 380 per tonne since July 2. The average price is expected to move within a range of RMB 360-RMB 420 per tonne. Other raw materials like Alumina (Imported), Australian Alumina FOB Price, Prebaked Anode Central, and Al Fluoride are hovering at RMB 2415 per tonne, USD 284 per tonne, RMB 3010 per tonne and RMB 7750 per tonne as of...
Three-month LME aluminium started the week on Monday, August 24, with a growth of 0.11 per cent to stand at US$ 1770 per tonne. On Tuesday, the price settled 0.51 per cent higher at US$ 1779 per tonne, which however, weakened a bit by 0.17 per cent on Wednesday, August 26, to end at US$ 1776 per tonne. On Thursday, the price rebounded at US$ 1779 per tonne, following wide fluctuations. LME aluminium cash (bid) price and LME official settlement price remained range-bound this week from Monday to Thursday between US$ 1735.50 per tonne and US$ 1738 per tonne. But on Friday, August 28, both the prices jumped to US$ 1762 per tonne, up by US$ 24 per tonne from the previous day. Starting the week on Monday, August 24 at US$ 1735.50 per tonne, LME aluminium cash (bid) price and LME official...
As part of improving efficiency and adapting Gränges Europe’s operations to current market situations, a decision has been made on organizational changes in the Swedish operations. The new organization aims to strengthen Gränges Europe’s customer offer and long-term competitiveness. As a part of the reorganization, lay-offs will be done. Gränges Europe on 26 th August’20 declared notices of redundancy in the operations, which will affect 75 staffs in total. Jörgen Abrahamsson, President Gränges Europe, said: “We are constantly working to improve efficiency and develop Gränges Europe’s operations. We are now implementing an organizational change to further adapt the operations to current market conditions, broaden our sustainable product offer, improve efficiency and implement competence...
The Executive Chairman of aluminium and steel investment company GFG Alliance, Sanjeev Gupta will head the roster at the London Metal Exchange’s virtual seminar for 2020, as declared on 28 th August. The virtual seminar will commence from 19 th October ‘20 and replaces the annual LME week gathering of metal market participants in London, which has been withdrawn due to the COVID-19 epidemic. With over two decades of experience in metals and commodities markets, Sanjeev Gupta founded metal and industrial company Liberty House Group in 1992, when he was a university undergraduate. LME’s declaration of Sanjeev Gupta as keynote speaker is timely given GFG’s developing business interest in green products, a topic currently at the forefront of the industry amid ongoing calls for carbon...
PT Indal Aluminum Industry Tbk. (INAI), an aluminium extrusion producer has stated that this year it will expand the supporting product segment and continue to count on a more potential export market. Alim Prakasa, Executive Managing Director, INAI, said: “In running the aluminium industry, the company is managing its business strategy quite carefully because unexpected situations such as the COVID-19 pandemic have resulted in several countries falling into recession.” On 27 th August’20, he said: "This condition also makes INAI revise its capacity expansion strategy plan, but we will still rejuvenate and add capacity with a period according to market needs.” Previously the Managing Director commented that the company had a premium product with the Homelux brand. According to the plan,...
An Iranian-flagged vessel loaded a cargo of 14,000 tonnes of alumina in Venezuela this month after delivering supplies for an Iranian supermarket in the South American nation, said three sources familiar with the matter. However, the customer of the cargo or the destination is still unknown. According to Refinitiv Eikon data, Golsan, a general cargo ship with a capacity to carry 22,882 tonnes, is sailing east across the Atlantic Ocean, signalling its destination as the La Guaira port in Venezuela. The vessel is owned by Mosakhar Darya Shipping Co and managed by Rahbaran Omid Darya. Both are Tehran-based companies blocked in November 2018 by the Trump administration while reimposing sanctions on hundreds of Iranian banking and shipping companies. No response on the latest cargo could be...
A team of researchers from the Institute of Minerals and Materials Technology (IMMT), India affirms to have developed a technique for transforming fly ash waste into wealth. As per the research team’s claim, they have extracted commercially-useful minerals like alumina among others containing rare earth elements from the ash. The process also intends to solve the issues related to the disposal of fly ash. According to the researchers, the main achievement was the extraction of alumina, which could be used for manufacturing of aluminium metal, and the rare earth elements. Dr Sanjay Kali, Senior Principal Scientist in Hydro and Electrometallurgy Department of IMMT, said: “The team was researching the institute’s laboratories since 2016 in a phased manner. They had collaborated with National...
The United States aluminium scrap imports from Canada stood at 19,800 tonnes in May 2020, growing by 2,800 tonnes or 16.47 per cent from 17,000 tonnes in April 2020, according to the latest data shared by the US Geological Survey. In March 2020, the US had imported 5,490 tonnes of aluminium scrap from Canada, meaning the imports in April grew significantly by 11,510 tonnes or 210 per cent to stand at 17,000 tonnes. The imports in February stood at 5,300 tonnes, down by 24 per cent month-on-month from 6,950 tonnes. On a year-on-year calculation, the US aluminium scrap imports from Canada stood down by 14,300 tonnes or 42 per cent from 34,100 tonnes in May 2019. The United States total imports of aluminium (including extrusion and semi-finished products) from Canada in May 2020 came in at...
According to a recent report, Canyon Resources has completed a range of testing, supporting the bauxite technical specification datasheet, the basis for ongoing offtake and strategic partnership negotiations for Minim Martap Project in Cameroon. The testing included a broad range of chemical, metallurgical, and physical test-work to inform pre-feasibility study of the project and ensuing ore reserve estimate. A random duplicate field selected from the resource estimate sample program from the Beatrice plateau, one of the three priority plateaux, was used in the testing for the basic metallurgical program. The previous test work and basic metallurgy program show total alumina at an average 90 to 95 per cent and silica at an average 60 to 80 per cent. Following are the results that support...
Germany’s exports of aluminium semi-finished products (plates, sheets, bars, etc.) to the US came in at 3,370 tonnes in May 2020, with a year-on-year decrease of 70%.Germany had exported 11,200 tonnes in May 2019, according to the latest Mineral Industry Survey report from the US Geological Survey. Aluminium semi-finished exports reduced by 34% from April’s export volume of 5,090 tonnes. In the first five months of 2020, exports of semi-finished to the US dropped 34.38% from the same period a year earlier. Exports stood at 27,100 tonnes in January-May as compared to 41,300 tonnes in May 2019. Germany exported 27,700 tonnes of total aluminium including scrap to the US in the first five months of 2020, a decrease of 35% from 42,800 tonnes in the first five months of 2019. In May, exports...
The average Bauxite (4.5≤Al/Si＜5.5) price in Shanxi stands at RMB 390 per tonne on Friday, 28 August 2020, an increase of RMB 10 per tonne, after remaining flat at RMB 380 per tonne since July 2. The average price is expected to move within a range of RMB 360-RMB 420 per tonne. The average spot alumina price in China has further increased to RMB 2360 per tonne on August 28. This marks an increase of RMB 13 per tonne after remaining restraint at RMB 2347 per tonne in the last three days. The prices of alumina in Shandong, Henan and Shanxi have increased to stand at RMB 2335 per tonne, RMB 2360 per tonne and RMB 2360 per tonne, up RMB 15 per tonne, RMB 10 per tonne and RMB 20 per tonne. The price in Guizhou remained unchanged at RMB 2365 per tonne. A00 aluminium ingot price has extended its...
The GDP of Switzerland generated by the service sector stands around 74% and 25% by the industrial sector. The contribution of the agricultural sector is less than 1%. The European Union (EU) is Switzerland's main trading partner. Around 78% of Swiss imports are from the EU, while 43% of Swiss exports are destined for EU countries. Bauxite importation of Switzerland has been recorded at 28,545 tonnes during 2017-19; with expenditures for bauxite, import has remained at $2.66 million during the same phase. The import for 2020 is overall expected to be around 10,369 tonnes and the expenditures to stay at $0.53 million. However, when the export volume and expenditures for Bauxite import for 2020 gets piled up with the existing three years, it denotes 38,914 tonnes and $3.19 million...
Every Can Counts has constructed a giant rainbow on the Brighton Beach seafront made entirely from 2,000 recycled aluminium cans. Every Can Counts initiative highlights the importance of recycling valuable aluminium cans. A giant rainbow arch has been created as a tribute to key workers and to raise awareness about the importance of recycling, the four-metre-high installation aims to tackle litter and promote the infinite recyclability of aluminium drink cans. Chris Latham-Warde, Every Can Counts UK Programme Manager, commented: “We’ve created this rainbow archway as a tribute to the infinite good that has been done by key workers across the country during the coronavirus pandemic. We owe so much to them for their continued work on the frontline to keep us safe and well and, of course,...
