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 Australia-based global shipbuilder Austal has acquired land in Mobile, Alabama to extend its naval shipyard capacity and capabilities. Austal has bought 15 acres of waterside facilities including a dry dock and deep water berthing capabilities on the Mobile River from Modern American recycling and Repair Services. The acquisition will succour a US$100 million investment by the company, supported by the US government. This will augment its current aluminium warship construction capabilities to include larger, steel-hulled ships. Austal is Australia’s largest defence exporter and the world’s biggest aluminium shipbuilder The shipbuilding firm paid less than US$10 million for the site, which is across the river from Austal’s existing 164-acre facility. The company has secured contracts...
After remaining restrained at RMB 2,302 per tonne during August 19-20, the average alumina spot price has recorded an increase of RMB 16 per tonne today, on August 21, for the second consecutive day, to stand at RMB 2,330 per tonne according to the Shanghai Metals Market. In the central and north, the alumina price has also come in at RMB 2,330 per tonne after growing by RMB 20 per tonne on August 21. The price in the East has inched up by RMB 5 per tonne to RMB 2,305 per tonne, while that in the south has remained muted at RMB 2,520 per tonne. The Australian alumina FOB price has jumped by US$ 17 per tonne to stand at US$ 288 per tonne, while the imported alumina price, on the other hand, has remained unchanged at RMB 2,300 per tonne. The A00 aluminium ingot price has continued to grow...
The Cameroonian Aluminum Company Alucam and the Cameroonian aluminium finished products firm Socatral will no longer be two separate organizations. The two entities have decided to merge. During the exceptional general meeting which was held on 30 th June’20, the shareholders of the two companies adopted without reservation the only item on the agenda, namely: the merger of Alucam and Socatral. Cathy Momha from the communications department at Alucam, explained: “This is a merger by absorption. Alucam has absorbed Socatral. Henceforth, Alucam forms a single entity. But the stakeholders are still finalizing the last elements relating to this operation. These are legal details and information systems, particularly concerning the language elements given the upcoming communication plan. For...
Hindalco Industries Ltd., a global leader in Aluminium, has entered into a Memorandum of Understanding with UltraTech Cement Ltd., part of the same group and India’s largest manufacturer of cement and concrete, to deliver 1.2 million tonnes of red mud (also known as bauxite residue) annually to UltraTech’s 14 plants located across 7 states. Hindalco is the world’s first company to achieve 100% red mud utilisation across three of its refineries. Red mud generated in the alumina manufacturing process is rich in iron oxides, along with alumina, silica and alkali. The cement industry has developed the capability to process red mud as a replacement for mined minerals such as laterite and lithomarge in its process. Hindalco is supplying red mud to UltraTech Cement plants where it has proved to...
Global primary aluminium production stood at 5.452 million tonnes in July, an increase of 0.63% from 5.418 million tonnes in July 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Thursday, 20 August 2020. On a month-on-month comparison, the output increased by 2.97% from 5.295 million tonnes. Total primary aluminium production came in at 37.515 million tonnes in the first seven months of 2020, an increase of 1.2% from 37.071 million tonnes in the first seven months of 2019. In Asia ex-China, aluminium production reduced by 7.8% year-on-year but up 1.78% month-on-month to 343,000 tonnes in July. In January-July, output came in at 2.391 million tonnes, a decrease of 6.78% from 2.565 million tonnes in January-July 2019. In the Middle East, primary...
According to Shanghai Metals Market data, the 6063 aluminium billet inventories in China have decreased this week ended on August 20 by 9,400 tonnes from a week ago. SMM data shows the billet inventories are now at 60,000 tonnes, marking the second consecutive week of decline. On last Thursday, August 12, the stocks were at 69,400 tonnes after falling by 6,400 tonnes from 63,000 tonnes in the week earlier. The chart below indicates the current status of aluminium billet inventories across China in more details: Except Foshan, the aluminium billet inventories this week have decreased in all major Chinese cities on August 20. For instance, the inventories in Nanchang have fallen by 5,140 tonnes to 10,060 tonnes, while that in Wuxi by 2,940 tonnes to stand at 13,500 tonnes. In Changzhou and...
Oak Ridge National Laboratory researchers from the Department of Energy have designed and additively manufactured an elementary aluminium device that upgrades the capture of carbon dioxide emitted from fossil fuel plants and other industrial processes. The solutions for lessening global emissions of heat-trapping greenhouse gases such as CO2 address the continued use of low-cost, domestic fossil fuel resources while mitigating potential climate impacts. ORNL’s device aims at a vital challenge in conventional absorption of carbon using solvents: the process typically produces heat that can limit its overall efficiency. By using additive manufacturing, researchers were able to custom design a multifunctional device that greatly improves the process efficiency by removing excess heat while...
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 762,000 tonnes as of Thursday, 20 August 2020, up 25,000 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 Shanghai, Wuxi, and Hangzhou increased by 8,000 tonnes, 7,000 tonnes and 1,000 tonnes from a week ago to 116,000 tonnes, 237,000 tonnes and 100,000 tonnes as of Thursday, 20 August 2020. Stocks in Chongqing remained unchanged at 3,000 tonnes. Inventories of aluminium in Gongyi, Tianjin and Linyi stood at 47,000 tonnes, 58,000 tonnes, and 7,000 tonnes. That was up 12,000 tonnes, 1,000 tonnes and...
South32 reported revenue of US$6,075 million for the year ended 30 June 2020 (FY20), down 16% from US$7,274 million for the year ended 30 June 2019 (FY19). Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) fell 46% to US$1,185 million for the year ended 30 June 2020 (FY20). Underlying earnings plummeting 81% to $193 million for the year ended 30 June 2020 (FY20). The company has reported underlying earnings of $992 million for the year ended 30 June 2019 (FY19). “As the COVID-19 pandemic continues to impact the world, our focus remains on keeping our people well, maintaining safe and reliable operations and supporting our communities through the health crisis. Even as we face this challenge, we delivered a strong operating result, with annual production...
Brazil has a developing mixed economy that is the ninth-largest in the world by nominal Gross Domestic Product and eighth-largest by purchasing power parity in 2019. According to the International Monetary Fund, Brazils 2019 nominal GDP was R$6.826 trillion or US$1.868 trillion. The Latin American nation’s import of aluminium wires during 2017-19 was recorded at 25,424 tonnes and revenue expenditure stood at $64.58 million. The projected export for 2020 has been analysed to stand at 17,924 tonnes and expenditures to outreach at $34.60 million. When the evaluated import volume and expenditure of 2020 get summed with the previous three years, it depicts 43,348 tonnes and $99.18 million respectively. Aluminium provides a better conductivity to weight ratio than copper and therefore is also...
According to a recent report, the automobile component manufacturing companies in India saw a decline of 11.7 per cent to INR 3.49 lakh crore in their total turnover during fiscal 2020, attributing to the COVID-19 impact on the automobile industry. In the financial year 2019, the revenue of the auto component manufacturing companies was INR 3.95 lakh crore, growing by 14.5 per cent over the year. The exports of the industry, which account for about 19 per cent of the total industry revenue, declined as well by 3.2 per cent to stand at INR 1.02 lakh crore in FY20 versus INR 1.06 lakh crore in FY19. Imports also witnessed a downfall of 11.4 per cent to INR 1.09 lakh crore during the year. Asia accounted for 65 percent of imports, followed by Europe and North America 26 per cent and 8 per...
On Wednesday, August 19, the Supreme Court ordered National Aluminium Company (NALCO) to ensure delivery of 30,000 tonnes of metallurgical-grade calcined alumina to Vedanta at Visakhapatnam on Free on Board (FOB) basis. The same will be for use in Vedanta’s SEZ unit at Jharsuguda in Orissa, mandated the Supreme Court. Vedanta Resources had filed a contempt petition to the Supreme Court against Nalco, alleging “willful disobedience” of January order that allowed the UK-based arm to participate in the state-run aluminium producer’s tender for the sale of surplus 30,000 tonnes of metallurgical-grade calcined alumina. Vedanta had emerged as a successful bidder for Nalco’s alumina tenders meant for exports. But the latter refused to allow the UK firm to take the consignment to its SEZ unit and...
Vedanta has raised it its aluminium products price after reducing it for the second time in a row. With effect from Thursday, 20 August 2020, the prices of some aluminium ingots are in the range of INR 148,750-161,750 per tonne, marking a growth of INR 1,250 per tonne or 7.14% from INR 147,500-160,500 per tonne on August 15. With the latest hike, Vedanta’ billet now stands at INR 156,750 per tonne on August 20, an increase of INR 1,250 per tonne from INR 155,500 per tonne on August 15. 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 by 4% so far due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of...
As updated by Shanghai Metals Market, average spot alumina price in China has risen by RMB 12 per tonne on Thursday, 20 August 2020.The price now stands at RMB 2314 per tonne after remaining flat at RMB 2302 per tonne for the three days in a row. 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 10 per tonne, RMB 10 per tonne and RMB 20 per tonne to stand at RMB 2300 per tonne, RMB 2310 per tonne, and RMB 2310 per tonne. Alumina-South remains unchanged at RMB 2520 per tonne. Australian alumina FOB price stands USD 6 per tonne higher on Thursday. The price stands at USD 271 per tonne. A00 aluminium ingot price has jumped to RMB 14790 per tonne on Thursday, 20 August 2020. That...
The Aluminium Association of Canada (AAC) hails the Government's support through Canada Economic Development for Quebec Regions, contributing to the full recognition of the North American origin of its metal through its continental markets and integrated value chain such as the automotive industry. On 19 th August’20, Honourable Mélanie Joly, the Minister of Economic Development and Official Languages announced the support, which is the culmination of more than two years of work by the industry. Jean Simard, President and CEO of AAC, highlighted: "In this period of economic and political uncertainty for the industry, the authentication of aluminium is a highly strategic approach to leverage the strengths of Canadian aluminium and consolidate its markets.” Thus, the system of...
The US dollar gained on Wednesday, August 19, after the Federal Reserve suggested it could pursue aggressive stimulus measures for longer than under its previous strategy, minutes from its last policy meeting showed. Three-month LME aluminium closed 1.07 per cent higher at US$ 1,787.5 per tonne on August 19. LME aluminium cash (bid) price and LME official settlement price increased for the second day in a row from US$ 1733 per tonne to US$ 1746.50 per tonne, as of Wednesday, August 19. 3-months bid price and 3-months offer price stood at US$ 1783 per tonne, up by US$13 per tonne from US$ 1770 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1862 per tonne. The LME aluminium opening stock declined to 1585000 tonne, following an increase to 1590550 tonnes on the previous...
Rusal Aughinish Alumina is the largest alumina refinery in Europe and the largest of the alumina facilities operated by UC RUSAL has declared the rise of pre-tax profits by over 30% to $54.60 million for 2019. The company has been done well following the revoke of US sanctions against its Russian owner. However, revenues dropped to $690.9 million from $757.1 million, having jumped 15% a year earlier. The US sanctions, imposed by the US Department of Treasury on the refinery’s owner the Rusal Group in 2018, abjured in late January 2019. The alumina refinery was also in the news previous year after Ireland lost a state aid appeal over a European Commission ruling that Aughinish Alumina plant received €10 million in illegal tax breaks between 2002 and 2004 through an exemption from excise...
The Indian state-run National Aluminium Company is expected to gain, as Hydro’s Alunorte alumina refinery in Brazil will axe down production by 30-45% due to maintenance of the bauxite supply pipeline at Paragominas mine, as per market analysts. Norsk Hydro ASA, among the biggest aluminium producers, stated that it will curtail production at Alunorte alumina refinery in Brazil amid extended maintenance on a pipeline transporting bauxite from the Paragominas mine in the Latin American nation. Alumina production at Alunorte, which accounts for about 13% of the global demand, will fall to 35-45% of its full operating capacity during planned maintenance expected to last two months. Vishal Chandak, a Research Analyst at Emkay Global Financial Services, said: “This development may not have an...
