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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Novelis Inc., the world leader in aluminium rolling and recycling, has reported the first-quarter results of fiscal 2021 ended June 30, mentioning a net loss of $61 million from continuing operations, down 148 per cent year-on-year. The company’s net income totalled $22 million during Q1 FY2021, excluding tax-effected special items. This stood down by 85 per cent versus the same period last year, primarily attributing to the after-tax impact of lower Adjusted EBITDA, which was 32 per cent lower year-on-year to $253 million in Q1. The company's financial results were mainly impacted by the COVID-19 pandemic, said Novelis. However, the resiliency of the beverage can market and the recovery in the automotive and specialty markets towards the end of the quarter provided some stability....
Jiangsu Pomlead, aluminium wheel hub manufacturer in China, is reportedly on track to launch its second production line, in a bid to expand Chinese aluminium alloy wheel hub capacity. The second production line is expected to commission in September with a capacity of 500,000 units per year. This will raise Pomlead’s total manufacturing capacity to 1.5 million units per year. Pomlead is expanding its capacity in response to higher demand for lightweight and energy-saving materials from the automotive industry. Besides, Pomlead is building another four production lines with a combined capacity of 2 million units per year and has already invested RMB 1 billion ($144 million) for the project. Two of the new lines are scheduled to be completed at the end of this year, while the remaining two...
Ducab Group, UAE’s one of the leading industrial manufacturing house, has declared gross profitability for H1 of 2020. The company has succeeded to maintain as compared to the same period of the previous year, due to the pliability of its diversified cables and metals business with all manufacturing based in the UAE. Overall sales of AED 2.2 billion reported for the period. While commenting on the company’s performance, Dr Ahmad Bin Hassan Al Shaikh, Chairman of Ducab, said: “The current COVID-19 pandemic has tested businesses around the world—including the manufacturing sector. Resilience and business continuity have been the cornerstones of Ducab’s strategy, supported by strong supply chain partners and the deep commitment from each member of the team.” “Ducab cables and metals...
The US imports of crude metal and alloys rose 10% year-on-year to stand at 316,000 tonnes in May 2020. Crude metal and alloys import were at 287,000 tonnes in May 2019. Imports dropped 6.5% month-on-month from 338,000 tonnes in April, according to the latest Mineral Industry Survey report from US Geological Survey. In the first five months of 2020, the US imported 1.57 million tonnes of crude metal and alloys as compared to 1.5 million tonnes in the first five months of 2019, which indicates a 4.67% increase year-on-year. On the export side, the US exported 9,060 tonnes of crude metal and alloys in May 2020, from 20,900 tonnes exported in May 2019. That was down 57% year-on-year. On a month-on-month basis, the exports reduced by 9.2% from 9,980 tonnes. In the first five months of 2020,...
An aluminium plate has been made with a laser process in a way that no water droplets can adhere to its surface and dirt particles can be removed without the use of any chemical cleaning agents or additional efforts. A joint effort of a project team of Technische Universität Dresden and the Fraunhofer Institute for Material and Beam Technology IWS made this innovation possible. For several years, scientists at TU Dresden and Fraunhofer IWS were striving to develop functionalised surfaces by means of laser-based manufacturing processes. Now, they have created a periodic surface structure that is water and ice repellent and also capable of removing dirt particles solely by rolling water drops. Their primary focus was the metal aluminium as it is largely used in the manufacture of...
ALRO, one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, announced its consolidated financial results for the six months ended 30 June 2020. The Group’s consolidated sales stood at RON 1,360,942 thousand in H1 2020, lower by 9.6% year-on-year due to the unfavourable market conditions and due to the COVID-19 pandemic crisis. Net profit stood at RON 254 million in H1 2020, from RON 80 million in H1 2019. ALRO’s sales declined to RON 1,222,845 thousand in H1 2020. ALRO Group’s sales of primary products in volume terms increased to 65,883 tonnes in H1 2020 from 65,155 tonnes in H1 2019 due to wire rod sales higher by 2,600 tonnes. Sales of processed products in volume terms slightly decreased to 53,605 tonnes in H1 2020 due to lower coils...
The four most important sectors that dominate the industry in Germany are automotive, mechanical engineering, chemical and electrical. However, Aluminium products, Iron and steel, shipbuilding industries had also come up in a big way. German manufacturing sector is strong as the manufacturing companies can maintain competitiveness in global markets even having to pay high wages for a relatively low number of hours worked by attaining high rates of productivity. The Western European nation’s export for aluminium tubes and pipes during 2017-19 has remained enterprising, though the seesaw moment had been revealed, still, it is considered as one the strong export market. During the above-mentioned phase, the export volume stood at 77,352 tonnes and revenue generation stood at $480.96 million....
A00 aluminium ingot price declined by RMB 20 per tonne from Tuesday’s price of RMB 14470 per tonne. The price now stood at RMB 14450 per tonne on Wednesday, 12 August and is expected to move within a range of RMB 14430-14470 per tonne. This marks the third consecutive rise in aluminium ingot price. In Foshan and Wuxi, the price inched down by RMB 10 per tonne and RMB 30 per tonne to stand at RMB 14370 per tonne and RMB 14440 per tonne. Their average prices are expected to range within RMB 14350-14390 per tonne and RMB 14430-14450 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14440 per tonne and 14310 per tonne, down RMB 30 per tonne and RMB 20 per tonne. Aluminium ingot prices in Shenyang, Tianjin, and Gongyi declined to stand at RMB 14485 per tonne, RMB 14490 per...
The US dollar fell from one-week highs on Tuesday, August 11, as investors flocked to currencies that benefit from an improving global market outlook. Three-month LME aluminium finished the day 0.17 per cent firmer at US$ 1,786 per tonne on Tuesday. As of Tuesday, August 11, both LME aluminium cash (bid) price and LME official settlement price increased by US$ 19.5 per tonne to stand at US$ 1749.5 per tonne, following a decline of US$ 14 per tonne on the previous day. 3-months bid price and 3-months offer price rebounded to US$ 1786 per tonne, while Dec 21 bid price and Dec 21 offer price came in at US$ 1860 per tonne. The LME aluminium opening stock continued to decline from 1621400 tonnes to 1617175 tonnes. Live Warrants hovered at 1361200 tonnes, while Cancelled Warrants at 255975...
Hindalco Industries Limited has reduced its aluminium ingot and aluminium product prices with effect from Tuesday, August 11, following a hike on August 8. The company is now selling its aluminium ingot at INR 14,900 per tonne, down by INR 1,250 per tonne or 1 per cent from INR 150,250 per tonne on August 8. With the latest reduction, Hindalco’s aluminium wire rod price has come in at INR 160,100 per tonne, while earlier the price was at INR 161,350 per tonne on August 8 – a decrease of INR 1,250 per tonne or 1 per cent. The company’s aluminium billet price is now at INR 156,100 per tonne versus INR 157,350 per tonne on August 8. Like any other major Indian aluminium producers, Hindalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange. In the...
The China Nonferrous Metals Industry Association's recycling branch (CMRA) is urging shipping firms to pursue carrying aluminium scrap. This has been conveyed on 11 th August’20, specifying their concern over the possibilities of dearth for raw material. From 1 st July’20 onwards, new standards for high-grade aluminium scrap are effective, but the Chinese authorities are yet to deliver detailed guidance on execution. “Additionally, new solid waste regulations that come into effect in September’20 have also prompted many foreign shippers to stop accepting orders for solid waste for fear of non-redemption”, the CMRA said, citing companies at an industry meeting on 7 th August’20. The world's biggest container shipping firm A.P. Moller-Maersk last month said: “It would stop accepting solid...
The British metal tycoon, Sanjeev Gupta owned Liberty House Group, part of GFG Alliance, has hinted their interest in acquiring Alcoa’s San Ciprián aluminium smelter in Spain, as per Industry sources. Alcoa has already declared an informal process with the workers’ representatives to discuss collective dismissals at San Ciprián on 28 th May’20. This is not the first time Sanjeev Gupta has shown interest in the acquisition of closedown metal plants. However, Alcoa management announced in the previous week that the formal consultation period for collective staff dismissals at the Spanish aluminium smelter ended on 4 th August’20 without any agreement with the workers’ representatives. The Industry sources said: “We hear that Liberty is interested in it and happy to step in and buy it. It...
Australia’s aluminium specialist, Capral Aluminium confirms that it will continue to operate in Victoria amid COVID-19 stage 4 restrictions. The company communicated during an ASX announcement that its operations will be strictly conducted under a high-risk COVID safety plan. Capral Aluminium manufactures and distributes its products to several 'permitted to open' sectors including residential building, heavy truck and transport equipment manufacturing, defence and security industries. The South Eastern state of Victoria is reported to represent 20% of Capral's total sales volume and the business does not predict a dramatic impact on demand. Capral said: "We will close our three retail/trade centres during this period. However, customers will have online access to supply."
According to a recent report, Canyon Resources Limited has announced a maiden JORC 2012 ore reserve for its Minim Martap Bauxite Project in Cameroon, West Africa. The reserve is estimated to have 97.3 million tonnes of ore at 51.1 per cent alumina and 2.3 per cent silica. This ore is based on the pre-feasibility study (PFS), which Canyon completed in early July. The company then confirmed project’s ability to produce high-quality, low-contaminant bauxite over a long mine life of at least 20 years via a multi-stage development. Mine will start with a production rate of four million tonnes per annum for two years. "The maiden ore reserve for the Minim Martap Project is the culmination of a great deal of work from all our teams around the world and sets the scene for the next exciting phase...
The latest data from the US Geological Survey showed a year-on-year decline of 50.31 per cent in the United States aluminium scrap exports to China during January-May. The total exports of aluminium scrap from the US to China during the first five months of the year amounted to 94,900 tonnes versus 191,000 tonnes during the same period last year. In May 2020, US exported 28,400 tonnes of aluminium scrap to China, higher by 6.8 per cent than 26,600 tonnes in April 2020. In March, the US aluminium scrap exports to China were 18,000 tonnes, meaning April saw a month-on-month hike of 48 per cent. The export in March also grew month-on-month from 11,000 tonnes, followed by a restraint in February compared to 10,500 tonnes of exports in January 2020. This show the aluminium scrap exports from...
Vedanta has reduced its aluminium products price after raising the price of same products on 8th August. With effect from Tuesday, 11 August 2020, the prices of some aluminium ingots are in the range of INR 147,750-160,750 per tonne, marking a decline of INR 1,250 per tonne or 0.84% from INR 149,000-162,000 per tonne on August 8. With the latest decline, Vedanta’ billet now stands at INR 155,750 per tonne on August 11, a drop of INR 1,250 per tonne from INR 157,000 per tonne on August 8. 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 3% so far due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of...
“Press Metal Aluminium Holdings Bhd is expected to post stronger earnings in the next two years as aluminium prices are likely to strengthen on better demand,” according to UOB Kay Hian Research. The research firm has increased its earnings forecasts for Press Metal for the financial years ending 31 st Dec’20 (FY20) and FY21 by 4% and 16%, respectively, to account for higher spot aluminium and alumina prices, which it expects to be partially offset by weaker US dollar against the Malaysian ringgit. UOB Kay Hian said: “It is assuming higher spot aluminium prices of US$1,685 per tonne and US$1,750 per tonne for 2020 and 2021, respectively.” The post complete down period has depicted that London Metal Exchange aluminium prices have been recovering at around US$1,778 per tonne presently from...
According to a recent report, Shell Catalysts & Technologies (SC&T) has successfully completed the expansion of its Port Allen, Louisiana plant in the US, to double the production capacity of precipitated alumina powder. The project is part of the SC&T’s strategy to meet the growing demand for precipitated alumina powder in the residue and gasoil hydroprocessing markets. Besides productions, this expansion will allow the Port Allen plant to increase powder supply to its world-scale catalyst plant, located at the Port Allen facility, and also to other Shell catalyst plants globally. The expansion project includes the capacity ramp-up of existing equipment, the addition of several new major pieces of processing equipment, and improving energy-efficient alternatives to reduce fixed and...
