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...
Grow with
AL Circle
China Association of Automobile Manufacturers (CAAM) found a month-on-month decline of 15.8 per cent in automobile production by 11 key Chinese automakers during early August. According to the data revealed by CAAM, automobile output stood at 1.11 million units, which was, however, higher by 46.4 per cent from the production during the same period last year. Sales in early August came in at 939,000 units, down by 0.3 per cent month-on-month and 4.2 per cent year-on-year, showed the latest data of CAAM. Production of passenger vehicles was at 934,000 units, falling 16.1 per cent from early July but up by 39.9 per cent from a year ago. Sales, on the other hand, inched up by 0.1 per cent month-on-month to 825,000 tonnes, however, stood down by 7.9 per cent from the same period last year....
Alumina Limited reported a statutory net profit after tax of US$90.5 million for the half-year to 30 June 2020, down 57% year on year. Excluding significant items, the net profit after tax was US$87.5 million. The Company declared an interim, fully franked dividend of 2.8 US cents per share. The Company’s dividend reinvestment plan has been reactivated for this dividend. The company achieved record daily alumina production for the half. Margin for alumina refineries was US$73 per tonne, a decrease of US$84 per tonne compared to the previous corresponding period and US$24 per tonne sequentially. EBITDA stood at US$507.1 million, a decrease of US$442.8 million. Alumina’s Chief Executive Officer, Mike Ferraro, said, “The health and safety of employees is paramount at Alumina and AWAC, and...
Primary aluminium production in West Europe rebounded in July 2020 by 10,000 tonnes month-on-month or 3.66 per cent to stand at 283,000 tonnes, found the International Aluminium Institute. In June 2020, the output in West Europe was 273,000 tonnes, declining 11,000 tonnes or 3.87 per cent from 284,000 tonnes in May 2020. On a year-on-year comparison, the production of primary aluminium in July 2020 stood down by 3,000 tonnes or 1.05 per cent from 286,000 tonnes. The total primary aluminium production in West Europe during May-July 2020 amounted to 840,000 tonnes, down by 2.67 per cent from 863,000 tonnes during the same period last year. Primary aluminium production in East and Central Europe during July 2020 also edged higher month-on-month from 340,000 tonnes to 349,000 tonnes. This...
Three-month LME aluminium settled 0.11% higher at US$1,770 per tonne on Monday. As of Monday August 24, LME aluminium cash (bid) price stands at US$ 1735.50 per tonne, LME official settlement price stands at US$ 1735.50 per tonne; 3-months bid price stands at US$ 1776 per tonne, 3-months offer price is US$ 1776 per tonne; Dec 21 bid price stands at US$ 1853.50per tonne, and Dec 21 offer price stands at US$ 1853.50 per tonne. The LME aluminium opening stock stood at 1572950 tonnes. Live Warrants totalled 1342775 tonnes, and Cancelled Warrants were 230175 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1779.70 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2126 per tonne on Tuesday, 25 August 2020. The most-liquid...
The latest type of aluminium ion battery which is flexible and has the same amount of energy as a lead-acid battery or even a nickel-metal hydride battery has been developed by researchers at the Stanford University in California. The key dominance of this latest type of battery is that it can charge itself in a minute. This battery has another advantage; it possesses a much longer life cycle than the existing battery technologies of today. Furthermore, the cost of the battery is low and it is stable. These findings were declared by Professor Hongjie Dai of the Stanford University and he also stated that such properties of this new kind of battery along with its stability make it a contender for grid-scale storage. This battery can also be used to power wearable devices. Aluminium ion...
According to the Shanghai Metals Market, the A00 aluminium ingot price has recorded a rise of RMB 50 per tonne to stand at RMB 14,750 per tonne on Tuesday, August 25, following a downfall on the previous day from RMB 14,840 per tonne to RMB 14,700 per tonne. The average prices are expected to range between RMB 14,730 per tonne and RMB 14,770 per tonne, with spot contract to be traded at the same premium price of RMB 30-70 per tonne. Foshan has seen the highest growth in A00 aluminium ingot price today of RMB 80 per tonne to come in at RMB 14,770 per tonne, followed by an increase of RMB 70 per tonne in Linyi to stand at RMB 14,790 per tonne. The price in Chongqing and Shenyang has grown by RMB 65 per tonne and RMB 50 per tonne to hover at RMB 14,665 per tonne and RMB 14,740 per tonne,...
PT HK Metals Utama Tbk (HKMU) will focus its business on the aluminium extrusion, as it sees the business potential that grows along with changing habits during the COVID-19 pandemic. Jodi Priyono, Corporate Secretary, HK Metals Utama said: “This year the aluminium building materials sector is experiencing challenges that have never been imagined before, namely being hit by a pandemic and more or less the threat of an economic recession.” "The company focuses on several strategic points. First, it continues to strengthen its aluminium business line by focusing on extruded aluminium production lines, in this case seeing that demand is still better than other building materials," he explained in a virtual public expose on 24 th August’20. Jodi further said: “With the increase in social...
Sumitomo Corporation, Japan’s one of the largest global general trading companies, and a diversified corporation forecast that the Japanese aluminium premium to rise to $90 a tonne in the October-December quarter, from $79 this quarter, as industry demand and stock-financing deals return, as stated by a company manager on 14 th August’20. Japan stands as Asia's biggest importer of aluminium and the premiums it agrees to pay over the London Metal Exchange (LME) cash price each quarter for primary metal shipments set the benchmark for the region. The aluminium premium of Japan for July to September came to $79 a tonne, down 3.7% from the prior quarter as the COVID-19 pandemic disrupted manufacturing activity. Yasushi Miyachi, Manager of Sumitomo's light metals trading team, said: "But...
Emirates Global Aluminium has been heralded for the second time as ‘Global Aluminium Supplier of the Year’ by Maxion Wheels, the world’s leading wheel manufacturer of aluminium and steel for passenger, commercial, and specialty vehicles. Maxion Wheels has been using EGA’s aluminium since 1995 for producing more than 55 million wheels annually. EGA has been acknowledged for the second time for its focus on building mutually-beneficial long-term partnerships, its customer service, and for the reliability of its supply of the high-quality aluminium products to Maxion Wheels. EGA is a world leader in foundry alloys production outside China. The alloys are used in the automotive industry to cast vehicle parts and wheels owing to its strength and ability to improve fuel efficiency while...
On 24 th August’20, the European Commission declared that aluminium extrusions from China will be subject to registration by national customs authorities as of 25 th August’20 in the regards to the ongoing extrusions anti-dumping investigation initiated in February this year. European Aluminium hails this move and desires the Commission to adopt effective anti-dumping duties promptly. On 14 February’20, the European Commission made public the opening of an anti-dumping investigation into aluminium extrusions originating from China. The investigation follows a complaint by European Aluminium whose member companies are adversely impacted by the dumping of Chinese aluminium extrusions. Chinese imports of extrusions have reached a significant market share and Chinese imports of...
The surprising takeover of the Arche group's auto parts foundries by China's third-largest aluminium producer, Hangzhou Jinjiang, only lasted two years. The fall in diesel automotive sales and the promised investments which were not made in these factories are the major cause to be considered, as 90% of the production is supplied to Renault. It all began as a miracle in the declining industrial basin of Decazeville (Aveyron). It's an unexpected recovery given the offers of the last nineteen months. Sébastien Lallier, CGT union representative for the SAM Technologies auto parts foundry congratulated. This large factory, located in Viviez, and the other units of the Arche group in recovery, FVM in Meurthe-et-Moselle and Alfisa in Spain, were taken over by the Chinese group Hangzhou Jinjiang...
South32 is in talks with Eskom on a new pricing arrangement for Hillside Aluminium smelter. The company has entered into an interim arrangement with Eskom for power supply to the smelter for a 10 year period. “The smelter sources alumina from our Worsley Alumina refinery with prices linked to the PAX on an M-1 basis, while its power is sourced from Eskom under separate contracts for its three potlines. We have been engaging with Eskom on a new pricing arrangement for the smelter, agreeing a new tariff to cover power supplied for a 10 year period,” the company said. “The new tariff is South African rand based, with a rate of escalation linked to the South Africa Producer Price Index. While the new tariff is being considered for approval by the National Energy Regulator of South Africa, we...
Last week, on August 20, Australian Bauxite Limited (ABx) announced that it completed the shipment of its most recent sale of 33,405 tonnes of cement-grade bauxite from Bald Hill bauxite mine near Campbell Town, Tasmania. The firm said the loading at the Bell Bay port commenced on Monday, August 17, after the shipment arrived from the Ball Hill bauxite mine. Loading completed on Wednesday evening and ship departed a few hours later. ABx reported the port operations complete in a timely manner. However, the destination for the just-laden vessel remained unknown. ABx acknowledged the professionalism and teamwork of QUBE Ports stevedore services, Monson Shipping agents, Briar Maritime ship surveys and TasPorts that made it happen. Despite the COVID-19 outbreak and ensuing slowdowns in...
Hindalco Industries Ltd has reduced its aluminium products price after hiking it for the second time in a row. With effect from Saturday, 22 August 2020, the company’s wire rods price stands at INR 159,350 per tonne, registering a drop of INR 3,000 per tonne from INR 162,350 per tonne on August 21. The company is now selling its billets at INR 155,350 per tonne, down INR 3,000 per tonne from INR 158,350 per tonne with effect from Saturday, 22 August 2020. Aluminium ingots price has decreased to stand at INR 148,250 per tonne, a drop of INR 3,000 per tonne or 1.98% from INR 151,250 per tonne on August 21. 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 declined by 4%...
The Northern European country Estonia globally ranks 18 th in ease-of-doing-business. The major industries that contribute to the nation’s GDP are engineering, electronics, telecommunications sector. The 2017 net debt to GDP ratio of Estonia was -0.6%, which means that the Estonian government has more assets than debts. Estonia's gross debt is very low anyway, as that low debt is the result of a government policy of paying back any borrowings as quickly as possible. Estonia’s import of aluminium wires during 2017-19 has been recorded with rapid growth and marginal fall, as the export volume remained at 35,141 tonnes and the revenue expended stood at $65.07 million. Aluminium wires import for 2020 has been predicted to be at 17,882 tonnes and expenditure to outreach at $27.5 million. When...
China, the world’s top exporter of aluminium, turned net importer for the first time in July 2020 since 2009. The country’s aluminium imports during the said month jumped nearly sevenfold year-on-year to record the second-highest level, found China customs data. Arrivals of unwrought aluminium and aluminium products into China came in at 391,297 tonnes last month, the highest monthly total since April 2009, the General Administration of Customs said on Sunday, August 23. In April 2009, China had imported 440,000 tonnes, up 570 per cent from July 2019 and 35.5 per cent from 288,783 tonnes in June 2020. China’s import volume in July found higher than the export of 373,402.3 tonnes, showed the data. That means the country, by far the world’s biggest aluminium producer, emerged as a net...
The US dollar on Friday gained against the euro for the first week since mid-June after data showed a strong uptick in US business activity, while the single currency was held down as an August batch of European business surveys pointed to a stuttering economic recovery. Three-month LME aluminium settled 0.84 per cent lower at US$ 1,768 per tonne on Friday. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 30 per tonne to US$ 1722.50 per tonne, as of Friday, August 21, following three consecutive rises from US$ 1733 per tonne to US$ 1755.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1761.50 per tonne, down by US$ 30 per tonne from US$ 1791.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1839.50 per tonne. The...
As updated by Shanghai Metals Market, average spot alumina price in China has risen by RMB 17 per tonne on Monday, August 24 2020, to stand at RMB 2347 per tonne. This marks the third consecutive hike in alumina price. The prices in all other major markets have also increased today, except South. The prices of alumina in East, Central, and North China markets have climbed by RMB 15 per tonne, RMB 20 per tonne and RMB 10 per tonne to stand at RMB 2320 per tonne, RMB 2350 per tonne, and RMB 2340 per tonne. Alumina-South remains unchanged at RMB 2520 per tonne. The price of aluminium alloy (ZLD102) and aluminium alloy (ZLD104) stand at RMB 15300 per tonne each, a decrease of RMB 50 per tonne each. The price of Aluminium Alloy (A356) has decreased by RMB150 per tonne to range at...
