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 slid on Thursday, August 13, against some major currencies such as the euro, Swiss franc, and sterling, weighed down by the impasse in Congress about additional US stimulus to help cope with the coronavirus pandemic. Three-month LME aluminium also trended lower on Thursday, ending 1.2 per cent weaker at US$ 1,763.5 per tonne. As of Thursday, August 13, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1738 per tonne, registering an increase of of US$ 8 per tonne on August 12. 3-months bid price and 3-months offer price grew from US$ 1766 per tonne to US$ 1774 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1849 per tonne. The LME aluminium opening stock declined to 1600525 tonnes. Live Warrants hovered at 1361000 tonnes, while...
Alcoa has reached an agreement with the workers’ representatives for the San Ciprián aluminum plant in Spain to extend the deadline of the formal consultation period for collective dismissal to September 28, 2020. The company said the agreement is endorsed by the national and regional governments It also includes a process to evaluate a potential sale of the 228,000 tons per year aluminium plant to GFG Alliance. “If a sales agreement is not reached by September 27, 2020, the Company and the workers’ representatives would then meet for one day on September 28, 2020, on the single topic of a social plan that would include government-supported unemployment benefits (ERTE), or, barring no agreement on an ERTE, the implementation of a permanent collective dismissal,” Alcoa said. The formal...
DuckerFrontier, a Washington headquartered global research and consulting agency delivering clients with high-quality insights for making valuable decisions, on 12 th August’20 came up with a survey, which confirms that aluminium already is the rapidly growing automotive material and is expected to grow to content levels of £514 per vehicle (PPV) by 2026, up 12% from 2020 levels. The survey analyzes the latest information on material content for North American light vehicles from the full automotive value chain, including automakers and their suppliers, and credits aluminium content penetration increases to its growing use in vehicle closure parts, body-in-white parts and chassis applications in traditional vehicles, as well as the growth of electrified powertrain and battery electric...
As updated by Shanghai Metals Market, inventories of aluminium billet in China declined this week as arrivals at warehouses in Guangdong and Jiangxi rose. Stocks of 6063 aluminium billet across five major consumption areas in China stood at 69,400 tonnes as of Thursday August 13, a drop of 6,400 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 Foshan, and Changzhou came in at 16,900 tonnes and 9,850 tonnes on Thursday, down from 21,700 tonnes and 10,170 tonnes on August 6. Stocks in Wuxi increased from 15,970 tonnes to 16,450 tonnes. In Huzhou and Nanchang, aluminium billet inventories declined to stand at 11,000 tonnes and 15,200 tonnes today, from 12,000 tonnes and...
M.T. Abraham Group via its subsidiary Aluminij Industries d.o.o. and in cooperation with its international partners China Machinery Engineering Corporation and China Nonferrous Metal Industry's Foreign Engineering & Construction Co., Ltd. is launching its activities in Bosnia and Herzegovina, aiming at the reposition of Aluminij as a global aluminium leader. The news came after Aluminij Industries d.o.o. officially informed the Government of Bosnia and Herzegovina that its agreement has been accepted on August 5, 2020, and therefore the agreement has entered into force and its provision to be fully implemented. In early April, M.T. Abraham Group, Aluminij Industries d.o.o. and Aluminij d.d. Mostar had signed a lease agreement for the Mostar based company in Bosnia and Herzegovina. The...
According to the Shanghai Metals Market, the social inventories of primary aluminium ingots in China have continued to increase this week ending on Thursday, August 13. Data shows the inventories have built up 12,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to stand at 737,000 tonnes, primarily driven by significant stock expansion in Wuxi. On last Thursday, August 6, the primary aluminium inventories had grown by 13,000 tonnes over the week to come in at 725,000 tonnes. The growth in inventories this week marks the third consecutive weekly rise. The chart below indicates the current status of primary aluminium inventories across China in more details: As the above chart shows, the hike in primary aluminium inventories this week has not touched upon...
Hydro has allocated BRL 25 million for construction of technical school in Brazil, where Hydro’s Alunorte alumina refinery and Albras aluminium plant are located. The school, which will include an auditorium, libraries, laboratories, living areas, a theater for cultural activities, a multi-sport court and cafeterias, is expected to be completed by the end of 2021. The building will be donated to the Government of Pará, which will be responsible for the facility, operation and maintenance of the school. For this, the company has entered into an agreement with the Government of Pará to include the Barcarena School of Work and Production, which is among the initiatives of the Term of Commitment (TC), signed in September 2018. The initiative aims to strengthen professional technical training...
In view of the current global COVID-19 pandemic and travel restrictions, the organizing committee of International Bauxite, Alumina & Aluminium Society (IBAAS) has decided to postpone the 9th IBAAS International Conference & Exhibition (IBAAS-JNARDDC 2021) to October 27-29, 2021 from November 4 - 6, 2020. Except the changes in date and year, there will be no change in the venue, exhibition plan or post conference visits. The event, co-organized with Jawaharlal Nehru Aluminium Research Development & Design Centre (JNARDDC), India, will be held in Hotel Marriot, Raipur. The theme also remains the same - “Sustainability Challenges of Bauxite, Alumina & Aluminium Industry”. The organizing committee of the conference is formulating a world class program focusing on key topics and issues in the...
The Government of India’s Department of Promotion of Industry and Internal Trade (DPIIT) has presented short- and-long-term measures to turn India into a manufacturing hub for 20 champion sectors. As per our report, short and long term measures have been identified, which includes aluminium sectors among other industries by DPIIT. This has been a major push forward to the manufacturing industry that the present Government of India focus to become “Self-Reliant India” DPIIT has suggested having a separate policy on power for the energy-intensive aluminium sector, reduction of coal cess from Rs 500 per tonne to Rs 50 per tonne, and reduction in rail freight. In the long term, the suggestion is to have an import monitoring mechanism, quality control order, and utilise aluminium for rail...
The latest data of the US Geological Survey showed the United States exports of aluminium plates, sheets and bars to Canada continued to trend down in May 2020. Barring a rise in February, the United States aluminium semis exports to Canada saw incessant falls during March-May 2020. The United States exports to Canada in May 2020 stood at 15,100 tonnes, 11.70 per cent lesser than 17,100 tonnes in April 2020. In March, the US aluminium semis exports to Canada totalled 28,300 tonnes, registering a plunge of 10.16 per cent from 31,500 tonnes in February. April saw a decline of 39.58 per cent in the US exports to Canada. In January, the export stood at 30,900 tonnes, meaning February saw a monthly rise of 2 per cent. On a year-on-year basis, the US aluminium plates, sheets and bars exports to...
Hindalco Industries Ltd has increased its aluminium products price after cutting the price of the same product on August 11. With effect from Wednesday August 12, the company’s wire rods price stands at INR 161,600 per tonne, an increase of 0.94% or INR 1,500 per tonne from INR 160,100 per tonne. The company is now selling its billets at INR 157,600 per tonne, marking a rise of INR 1,500 per tonne from INR 156,100 per tonne with effect from Wednesday August 11. Hindalco aluminium ingots price has increased to stand at INR 150,500 per tonne, up INR 1,500 per tonne from INR 149,000 per tonne on August 11. 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 3%...
The automobile market in China saw a further recovery in July, marking the fourth consecutive month of growth for the overall vehicle market since the plunge of 42 per cent in the first quarter of 2020. New vehicle sales in July rose by 16.4 per cent from 1.81 million units during the same period last year to 2.11 million units, according to the data released by the China Association of Automobile Manufacturers (CAAM). In July 2020, the recovery in China’s automobile market was primarily driven by commercial vehicles, with sales rising 59 per cent to 447,000 units. Passenger vehicles sales rose 8.5 per cent to 1.67 million units during the same month. The new energy vehicles saw the first positive month in July since the government slashed subsidies a year ago. New energy vehicle sales...
RUSAL, a leading global aluminium producer, announced its results for the six months ended 30 June 2020. The company’s revenue decreased by USD721 million, or 15.2% to USD4,015 million in H1 2020 from USD4,736 million in H1 2019 due to lower LME aluminium price. Revenue from sales of primary aluminium and alloys reduced by USD559 million, or by 14.4%, to USD3,318 million, from USD3,877 million for the first half of 2019. Revenue from sales of alumina decreased by 28.8% year-on-year to USD242 million in H1 2020. Revenue from sales of foil and other aluminium products decreased by USD27 million, or by 13.2%, to USD178 million in the first six months of 2020 due to a decrease in sales of aluminium wheels between the comparable periods. Evgenii Nikitin, CEO of RUSAL, said: “Despite the...
The average alumina spot price in China has recorded a decline of RMB 25 per tonne to stand at RMB 2,314 per tonne, following restraints at RMB 2,339 per tonne during August 6-12, found Shanghai Metals Market on August 13. In the north, the price has decreased by RMB 30 per tonne to RMB 2,300 per tonne, while that in the central and east has plunged by RMB 25 per tonne and RMB 20 per tonne to stand, respectively, at RMB 2,315 per tonne and RMB 2,305 per tonne. In the south, however, the average alumina price has remained unchanged at RMB 2,520 per tonne. The imported alumina price has also registered no change from RMB 2,325 per tonne, but the price of Australian alumina FOB has inched down by US$ 6 per tonne to hover at US$ 265 per tonne. Among other input costs, the price of aluminium...
Three-month LME aluminium settled 0.06% weaker at US$1,785 per tonne on Wednesday. Open interest added 5,151 lots to 804,000 lots. As of Wednesday August 12, LME aluminium cash (bid) price stands at US$ 1730 per tonne, LME official settlement price stands at US$ 1730 per tonne; 3-months bid price stands at US$ 1766 per tonne, 3-months offer price is US$ 1766 per tonne; Dec 21 bid price stands at US$ 1840.50per tonne, and Dec 21 offer price stands at US$ 1840.50per tonne. The LME aluminium opening stock stood at 1621400 tonnes. Live Warrants totalled 1372025 tonnes, and Cancelled Warrants were 249375 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1760.53per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2091 per tonne...
DecoFloor from aluminium building products manufacturer Deco Australia comes up with new internal flooring system that offers the natural beauty of timber with the durability of aluminium floorboards. DecoFloor is a first in the Australian flooring industry to make from solid, powder-coated aluminium. It is long-lasting, completely non-combustible, and resistant to moisture and termites. It will not rot, warp or swell, unlike traditional timber and laminate floors. It is also slip-resistant and will not need sanding, staining or oiling. The flooring is designed to replicate the form, feel and appearance of real timber floors. The natural timber finish is achieved through a sublimation powder-coating process. The finish clones the timber grains of Australian hardwoods and exotic species in...
The British plastic-aluminium laminate recycling company Enval has appointed Jeremy Blake as part of its senior management team to be in charge of operations and accelerating strong growth of the business. Enval uses a remarkable proprietary pyrolysis solution technology for treating low-density packaging waste. By applying cutting-edge innovation to packaging recycling, Enval is surfacing the way for environmentally responsible packaging solutions. Jeremy joins Enval to lead the company’s operations department, bringing with him over 10 years of experience in the circular economy sector. Before joining Enval, he was the Head of Recycling Assets at Viridor and has a demonstrated history of working at the intersection of renewables and environmental technologies, as well as a strong...
Vishay Intertechnology, Inc, 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 a new series of miniature snap-in power aluminium electrolytic capacitors. It comes with a higher power density designs. The Vishay BCcomponents 193 PUR-SI series offers up to 30 % higher ripple current than standard solutions in similar case sizes. The aluminium capacitors provide a longer useful life. It comes with ripple currents up to 3.27 A. The devices allow designers to utilize fewer components to save board space and lower costs. Their long useful life of 5,000 hours at +105 °C permits use in demanding applications requiring more than 25...
