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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The US dollar gained on Thursday, August 27, in choppy trading after Federal Reserve Chairman Jerome Powell said, as widely expected, that the US central bank would roll out an aggressive new strategy to lift US employment and inflation. Three-month LME aluminium fluctuated widely on Thursday, ending 0.11 per cent higher at US$ 1,779 per tonne. It is likely to move between US$ 1,760-1,785 per tonne today. On Thursday, August 27, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1738 per tonne, growing slightly by US$ 1 per tonne from the previous day. 3-months bid price and 3-months offer price hovered at US$ 1776.50 per tonne, down by US$ 2.5 per tonne from US$ 1779 per tonne on August 26. Dec 21 bid price and Dec 21 offer price came in at US$ 1852.50 per...
South Africa’s first aircraft since the Apartheid era, AHRLAC, is back in production and ready for deliveries after a separation between the programme’s two shareholders threatened its future last year. Paramount, the South African defence group, which almost a decade ago invested in the light-attack and reconnaissance platform alongside father and son developers Paul Potgieter senior and junior – emerged late last year as the outright owner of manufacturer Aerospace Development Corporation (ADC). The Founder and Executive Chairman of Paramount, Ivor Ichikowitz, said: “The newly branded Paramount Aerospace Industries has taken orders for the AHRLAC – which is branded the Mwarai in a militarised configuration – and is preparing for deliveries.” A new factory in Wonderboom, near Pretoria,...
TBA Firefly has entered the cladding market by introducing their solid aluminium facade panels. The new aluminium solid panels (ASP) are reckoned to match up to non-combustible requirements, and certified to AS1530.1 & AS1530.3. The fresh facade cladding panels come from TBA Firefly, a firm that has been specialising in fire protection products for over 130 years. TBA Firefly is a division of TBA Textiles, a manufacturer of fire-resistant textiles and products for more than 130 years in Rochdale, UK and also servicing the Australian market for the past 60 years. TBA Firefly’s non-combustible ancillary products have largely been used behind the facade panels of other manufacturers. The company has now tested and released its panels. TBA Firefly fully DTS facade products: TBA Firefly...
Vishay Intertechnology, one of the world's largest manufacturers of discrete semiconductors (diodes, MOSFETs, and infrared optoelectronics) and passive electronic components (resistors, inductors, and capacitors), has announced the launch of two new series of miniature axial aluminium electrolytic capacitors. The provide designers with greater design flexibility, while their high temperature capabilities and long useful life increase reliability for demanding applications in harsh environments. Aluminium electrolytic capacitors are suited for smoothing, filtering, and buffering in power supplies for automotive, industrial, and telecommunications applications. The devices are available in 10 compact case sizes ranging from 6.5 mm by 18 mm to 21 mm by 38 mm. The Vishay BCcomponents 125 ALS...
Aluminum Corporation of China Limited, popularly known as Chalco, reported on Thursday, August 27, that its profit fell 95 per cent year-on-year in the first half of 2020, attributing to lower aluminium and alumina prices and decrease in primary aluminium production. The net income of the company during H1 2020 came in at RMB 35.71 million, down from an adjusted RMB 707.41 million a year earlier. Last year’s first-half income was buoyed by a substantial gain on an asset sale, exacerbating the drop in earnings this year. In the second quarter, Chalco’s profit was RMB 5 million, marking the company’s worst quarterly result since a net loss in the fourth quarter of 2018, according to Refinitiv Eikon data. In terms of production, Chalco’s primary aluminium output in the first half of the year...
According to the latest data shared by the International Aluminium Institute, alumina production in North America rose month-on-month in July 2020 by 8,000 tonnes or 3.6 per cent to stand at 231,000 tonnes. In June, the output was 223,000 tonnes, growing by 13,000 tonnes or 6.19 per cent from 210,000 tonnes in May. On a year-on-year calculation, North America’s alumina output in July 2020 stood down by 33,000 tonnes or 12.5 per cent from 264,000 tonnes in July 2019. During May-July 2020, North America’s total alumina production amounted to 664,000 tonnes, down by 67,000 tonnes or 9.17 per cent from 731,000 tonnes during the same period last year. In South America, on the other hand, alumina production in July recorded a month-on-month decrease of 16,000 tonnes or 1.64 per cent to stand at...
Primary aluminium inventories in China have recorded a plunge of 7,000 tonnes this week ended on Thursday, August 27, following a rise of 25,000 tonnes in the week earlier, found Shanghai Metals Market. According to the data, the social inventories of primary aluminium have declined across eight Chinese consumption areas, including SHFE warrants, to stand at 755,000 tonnes versus 762,000 tonnes on last Thursday, August 20. The chart below indicates the current status of primary aluminium inventories across China in more details: Nanhai, among all the major Chinese markets, has seen the highest downfall of 9,000 tonnes to 185,000 tonnes, as of August 27, followed by the decline of 4,000 tonnes in Shanghai to stand at 112,000 tonnes. In Tianjin and Hangzhou, the primary aluminium...
As updated by Shanghai Metals Market, inventories of of 6063 aluminium billet across five major consumption areas in China stood at 56,200 tonnes as of Thursday August 27, a drop of 3,800 tonnes from last Thursday. The chart below indicates the current status of aluminium billet inventories across China in more details: Inventories of aluminium billet in Wuxi, Huzhou and Nanchang came in at 12,620 tonne, 7,000 tonnes and 8,820 tonnes on Thursday, down from 13,500 tonnes, 10,000 tonnes and 10,060 on August 20. Stocks in Changzhou remained unchanged at 7,660 tonnes. Aluminium billet inventories in Foshan increased to stand at 20,100 tonnes, from 18,800 tonnes on August 20.
Common compressed gases are propane, nitrogen, chlorine, helium, oxygen and aluminium containers are considered to be one of the best for its storage. Italy’s import of aluminium containers for compressed gas during 2017-2019 exhibited ups and downs, as the import volume was recorded at 4580 tonnes, with $24.12 million has been accounted for as expenditure. The projected import for 2020 has been counted at 1387 tonnes and expenditure to be occurring stands at $8.85 million. However, when the analysed import volume and expenditure of 2020 gets summed with the previous three years it resembles 5967 tonnes and $32.97million respectively. Aluminium containers for compressed gas import during 2017 stood at 990 tonnes and expenditures remained at $4.47 million, whereas in 2018 the Italian...
Despite all the odds and adverse situations generated by the COVID-19 pandemic, it has supposedly opened new floodgates for the secondary aluminium manufacturers, commented Pragun Jindal Khaitan, Managing Director at Jindal Aluminium Limited (JAL). Mr Khaitan said, “Though JAL did experience the impact of the pandemic due to lowered demand and output during April and May, starting the month of June turned a new leaf of revival, which led to a rise of 65- 70% rise in demand on an average.” “In terms of export, JAL did not experience any increase or decrease with 15-20% of the total output being disseminated as per demand, keeping it constant. The first quarter of the year was stable in terms of the performance and output of JAL, though the domestic demand was at a low,” he added. According...
An Italian water brand WAMI launches its water in aluminium cans from Crown Bevcan Europe & Middle East. The company’s new range is available in 0.44cl size. WAMI water is available in aluminium cans from Crown Bevcan Europe & Middle East as of July 2020, further advancing the brand’s commitment to making a positive impact in the world thanks to the package format’s infinite recyclability and ability to remain within the material loop. WAMI water is available exclusively in Italy through restaurants, bistros and cafes at the moment. WAMI CEO Giacomo Stefanini commented: “We see our product as consistent with a contemporary vision of the restaurant business. A business which is more and more aware of the need to create a sustainable alternative to our patterns of consumption, but also...
In July 2020, China imported 417,263 tonnes of alumina, more than double the 200,000 tonnes in the year ago, according to Chinese customs data released on Tuesday, August 25. China’s total alumina imports since the beginning of the year has come in at 2.33 million tonnes, up by 341.2 per cent from the corresponding period last year. The stupendous hike in Chinese alumina imports has reportedly blown the domestic alumina market, which was already under pressure due to the lack of buying interests among domestic primary aluminium producers. However, according to a Shanghai-based alumina analyst, China’s domestic alumina market has a fair chance to rebound after last week’s surge following Hydro’s disruption. He said, “Overall, the market has ample supply, and I heard northern China started...
The Ghana Integrated Aluminum Development Corporation (GIADEC) took charge for Volta Aluminium Company’s (VALCO) recovery plan within 5 years. The plan incorporates the modernization of the aluminium smelter, which will take between three to five years and it will be done in two phases. This is to enable the aluminium smelter to produce first at its full capacity and a further increase in production will be recorded post the modernization. Michael Ansah, CEO of GIADEC, made public the plan at a swearing-in ceremony of the VALCO Board by the Minister for Lands and Natural Resources, Kwaku Asomah Kyeremeh. He said: “The first phase will deliver 170,000 tonnes while the second phase will produce 120,000 tonnes.” He also added: “The first phase will begin as soon as strategic partners are...
Australian Bauxite Limited’s subsidiary ALCORE Limited has executed a Memorandum of Understanding agreement (MoU) with the Japanese global trading company Sojitz Corporation (Sojitz). Both the companies will explore a potential business relationship with respect to the business of Aluminium Fluoride (AIF₃). Mark Cooksey, Alcore’s CEO, commented: “Sojitz has been assisting Alcore for 3 years and is one of several aluminium industry corporations that are vitally interested in the Alcore processes and business plans. We welcome this third-party endorsement and we expect there will be further endorsements in the coming months as we start to standardise our product specifications and processing strategies. Sojitz can provide an immediate international capability and could assist in the supply...
Three-month LME aluminium weakened 0.17% to end at US$1,776 per tonne on Wednesday. As of Wednesday August 26, LME aluminium cash (bid) price stands at US$ 1737per tonne, LME official settlement price stands at US$ 1737per tonne; 3-months bid price stands at US$ 1779 per tonne, 3-months offer price is US$ 1779 per tonne; Dec 21 bid price stands at US$ 1855per tonne, and Dec 21 offer price stands at US$ 1855 per tonne. The LME aluminium opening stock stood at 1563300 tonnes. Live Warrants totalled 1333775 tonnes, and Cancelled Warrants were 229525 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1784.86 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2135 per tonne on Thursday, August 27 2020. The most-liquid SHFE...
On Thursday, August 29, A00 aluminium ingot price in China has declined by RMB 40 per tonne to RMB 14,730 per tonne, following two consecutive hikes from RMB 14,700 per tonne to RMB 14,770 per tonne, according to the data found by Shanghai Metals Market. Week-on-week, the price is down by RMB 60 per tonne from RMB 14,790 per tonne, as of August 20. The average prices today are expected to range between RMB 14,710 per tonne and RMB 14,750 per tonne, with spot contract to be traded at a premium price of RMB 20-60 per tonne. Today, Linyi has seen the highest downfall of RMB 70 per tonne to RMB 14,720 per tonne, according to SMM. In Hangzhou, the primary aluminium ingot price has shrunk by RMB 60 per tonne to RMB 14,710 per tonne, while that in Gongyi has decreased by RMB 55 per tonne to RMB...
Aluminium Company of Egypt “Egyptalum” is expecting to report EGP 993.773 million in net losses during fiscal year (FY) 2019/20, compared to the EGP 870.927million net profit in FY 2018/19. On 25 th August’20, the aluminium company reported in a statement to the Egyptian Exchange (EGX), where the company revealed that its revenues dropped to EGP 7.254 billion in the period from July 2019 to June 2020. This compared to the EGP 12.188 billion from July 2018 to June 2019. The company imputed its losses to the increase in production costs, particularly concerning electricity consumption, during FY 2019/20. Furthermore, the shrink in the US dollar exchange rate against the Egyptian pound has contributed to these losses, alongside the sharp drop in metal prices at the London Metal Exchange....
West Europe produced 477,000 tonnes of alumina in July 2020, according to the International Aluminium Institute (IAI) data. That was a decrease of 2.45% from 489,000 tonnes in July 2019 and 0.12% from 478,000 tonnes in June 2020. Alumina production in the first seven months of 2020 stood at 3.319 million tonne, from 3.402 million tonnes in the first seven months of 2019.This marks a decrease of 2.44% year-on-year. East & Central Europe produced 383,000 tonnes of alumina in July 2020, an increase of 3.79% from 369,000 tonnes in July 2019. On a month on month basis, the output increased by 7% from 358,000 tonnes in June 2020. Alumina production in the first seven months of 2020 stood at 2.606 million tonne, from 2.557 million tonnes in the first seven months of 2019.This marks an increase...
