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 dollar rose on Thursday, taking a breather from its recent weakness. LME aluminium strengthened 0.99%. Three-month LME aluminium ended 0.99% higher on Thursday. The price stood at US$1,778 per tonne. As of Thursday August 6, LME aluminium cash (bid) price stands at US$ 1722 per tonne, LME official settlement price stands at US$ 1722 per tonne; 3-months bid price stands at US$ 1758.50 per tonne, 3-months offer price is US$ 1758.50 per tonne; Dec 21 bid price stands at US$ 1834.50 per tonne, and Dec 21 offer price stands at US$ 1834.50 per tonne. The LME aluminium opening stock stood at 1632325 tonnes. Live Warrants totalled 1374550 tonnes, and Cancelled Warrants were 257775tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1768.95per tonne. SHFE Aluminium Price...
Fitch Solutions Country Risk and Industry Research says: “New projects coming on line in key producers Guinea, Indonesia and Australia, as well as a ramp-up in Indian and Indonesian production, will drive rapid production growth of bauxite in 2021.” The bauxite mining sector of Australia anticipates towards maintaining steady output growth, braced by a solid project pipeline. The country holds 12 of the 29 new projects in Fitch’s Key Mines Projects Database, the utmost in any country. Bauxite accounts for less than 5% of Australian mining value, whereas, the country ranks as the global top producer, accounting for an estimated 28.8% of global output as of 2018. The country is projected to remain a top bauxite exporter to China, although it may lose some market share over the coming...
Following a steep fall last day, on August 6, the A00 aluminium ingot price has recorded a hike of RMB 70 per tonne to stand at RMB 14,720 per tonne, as of August 7, found Shanghai Metals Market. The average prices are expected to range between RMB 14,700 per tonne and RMB 14,740 per tonne, with spot contract to be traded at a premium price of RMB 30-70 per tonne, up by RMB 20 per tonne from the previous day. Among the major Chinese cities, Gongyi has seen a maximum surge in A00 aluminium ingot price of about RMB 165 per tonne to come in at RMB 14,740 per tonne. Wuxi has seen a growth of RMB 80 per tonne to RMB 14,730 per tonne, followed by Shenyang and Linyi, where the price has increased by RMB 75 per tonne and RMB 60 per tonne to respectively stand at RMB 14,735 per tonne and RMB...
Shanghai Metals Market found a rise in aluminium billet inventories on Thursday, August 6, as arrivals at stocks increased in Guangdong and Jiangxi. SMM data showed that 6063 aluminium billet stocks across the five major consumption areas in China built up by 9,900 tonnes from a week ago to come in at 75,800 tonnes. On last Thursday, July 30, the stocks fell by 2,700 tonnes with a significant decline in arrivals at warehouses. The chart below indicates the current status of aluminium billet inventories across China in more details: As the hike in inventories did not touch upon all the major Chinese cities, only Nanchang, Foshan, and Changzhou saw an increase in stocks. While in Nanchang and Foshan, the aluminium billet inventories surged by 8,050 tonnes and 4,600 tonnes to respectively...
The economy of Taiwan is a developed capitalist economy that ranks as the seventh-largest in Asia and 22nd-largest in the world by purchasing power parity (PPP). It is included in the advanced economies group by the International Monetary Fund and gauged in the high-income economies group by the World Bank. The major industrial sectors that contribute heavily to the economy of Taiwan are electronics, communications and information technology products, petroleum refining, chemicals, textiles, metals, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals. Taiwan’s aluminium scrap export during 2018-19 remained quite progressive, as the export volume stood at 108,834 tonnes. The projected scrap export for 2020 has been determined to be at 78,094 tonnes, however,...
According to Shanghai Metals Market, the social inventories of primary aluminium have extended their hike across eight major consumption areas in China, including SHFE warrants, on Thursday, August 6. The inventories have increased by 13,000 tonnes this week to come in at 725,000 tonnes versus the rise of 10,000 tonnes on last Thursday, July 30. The chart below indicates the current status of primary aluminium inventories across China in more details: However, except Nanhai and Hangzhou, the increase in primary aluminium inventories has not touched upon all the major Chinese cities. In Nanhai, the social inventories of primary aluminium have grown by 20,000 tonnes to come in at 202,000 tonnes and that in Hangzhou have inched up by 3,000 tonnes to stand at 98,000 tonnes. In Gongyi,...
The last meeting of the formal consultation period for collective dismissal at the Alcoa’s San Ciprián aluminium plant in Spain ended on 4 th August’20, without an agreement with the workers’ representatives. As per the Spanish regulations, Alcoa has up to 15 days as grace period from the end of the consultation period to announce a decision regarding the smelter’s 228,000 metric tonnes of annual capacity. Alcoa and the San Ciprián Works Council have been meeting throughout the formal consultation period, which began on 25 th June’20, to discuss a proposed restructuring that aims to stop persistent and recurring financial losses at the smelter and find a solution for both the Company and its workers. The Company proposed multiple proposals to the workers’ representatives, including a...
On the occasion of the 161st anniversary, the Thailand Marine Department will float the country’s first electric ferry, named the BanpuNext e-Ferry, which will be a part towards the effort to reduce pollution. It will soon start trial runs in Phuket and have a fleet of solar-powered boats running by 2021. Wittaya Yamuang, Director General, Thailand Marine Department, said: “By 2021, there should be up to 30 ferries providing service in the first phase before it expands to 200 ferries in three to four years.” "The e-ferry is cost-effective because it is made of aluminium and with lower fuel and maintenance cost; the fares will also be cheaper.” The Bangkok Marine Department worked with Kasetsart University to study and build the 100 seat passenger ferry with an electric powered engine to...
Kia Motors has confirmed that the new Sorento is on planning calendar to land in New Zealand during the last phase of 2020. The freshened mid-size SUV has been furnished with several changes, including a new platform, brand new look and more technical inputs. Primarily, the only engine option will be an improved version of Kia’s 2.2-litre common rail diesel engine, which gets a lighter aluminium block to shred 38.2kg off the old engine. It makes 150kW/440Nm and Kia has bolted it to a new eight-speed dual-clutch transmission, apparently a first for the segment. When the new Sorento was rolled-out, Kia Motors said there would be a Hybrid version, combining a 1.6-litre turbocharged petrol engine with a 44.2kWh motor, fed by a 1.49kWh battery and a system output of 171kW/350Nm. The country...
AMETEK Surface Vision has aided the Italian aluminium manufacturer Laminazione Sottile S.p.A. in meeting customer specifications for product quality by installing SmartView® system that ensures only inspected material is further processed and brought into the market. Installed in Brightfield configuration, with in-line inspection and Streaming Video, the system has enabled Laminazione Sottile to maintain a high level of materials quality for its customers. Laminazione Sottile S.p.A. manufactures rolled aluminium products, which include rigid, semi-rigid and flexible packaging, HVAC-R, automotive parts, cookware, and general engineering components. The company was in need for an automated system that could inspect product quality in real-time to detect defects and identify the root causes....
The United States-based primary aluminium producer Century Aluminium Company announced its second quarter results on Wednesday, August 5, mentioning an increase in primary aluminium shipments by 3.65 per cent quarter-on-quarter. According to the report, the shipments in Q2 2020 increased from 202,905 tonnes in Q1 to 210,309 tonnes. Net sales, however, reflected a downtrend from $421.2 million in Q1 to $401.9 million in Q2, primarily attributing to lower LME prices and regional premiums. Century’s shipments from the United States were 130,645 tonnes in Q2 versus 129,114 tonnes in Q1, while its shipments from Iceland were 79,664 tonnes in comparison with 73,791 tonnes in Q1. The company's sales in the United States decreased from $273.8 million in Q1 to $246.6 million in Q2, but that in...
The West African country, Guinea ranks as the world’s second-largest bauxite exporter, as said by Ibrahima Kassory Fofana, Prime Minister on 5 th July’20, during the occasion of the launch of the national convention of the People's Rally of Guinea. According to Kassory Fofana: In the last ten years of mining governance during which structural reforms were undertaken, the country has experienced a greater economic boom with more than 10 billion US dollars of investment in the sector.” He also said: “In the mining sector, more than 17,000 direct jobs and more than 50,000 indirect jobs have been created for the workforce.” As the mining sector overspread, its effect also experienced in the energy sector with considerable investments. The Prime Minister thanked the economic and financial...
The A00 aluminium ingot price has recorded a steep fall of RMB 270 per tonne today, August 6, to RMB 14,650 per tonne, found the Shanghai Metals Market data. The average prices are expected to range between RMB 14,630 per tonne and RMB 14,670 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne. Foshan and Chongqing have seen the highest decline today of RMB 280 per tonne to RMB 14,590 per tonne and RMB 14,530 per tonne, respectively, followed by Wuxi, where the price has plunged by RMB 270 per tonne to RMB 14,650 per tonne. In Gongyi and Tianjin, the price has decreased by RMB 245 per tonne and RMB 240 per tonne to RMB 14,575 per tonne and RMB 14,670 per tonne, respectively. The A00 aluminium ingot price in Shenyang and Hangzhou has grown by RMB 235 per...
The US dollar was under pressure on Wednesday, August 5, from a towering euro and crumbling US yields, as the latest coronavirus relief package got bogged down in Congress and investors braced for a bumpy ride to economic repair. Three-month LME aluminium shed 0.42 per cent to end at US$ 1,760.5 per tonne on Wednesday in choppy trading. Open interest added 10,443 lots to 797,000 lots as shorts added positions. Both LME aluminium cash (bid) price and LME official settlement price, as of Wednesday, August 5, jumped from US$ 1709.50 per tonne to US$ 1739 per tonne, marking the highest in last six months. 3-months bid price and 3-months offer price stood at US$ 1778.50 per tonne, registering a hike of US$ 30 per tonne from US$ 1748.50 per tonne on August 4. Dec 21 bid price and Dec 21 offer...
Austria is a highly developed industrialized country with an important service sector. The most important industries are mechanical engineering, metals, construction, chemicals, electronics and vehicle manufacturing. Aluminium scrap export of Austria during 2017-19 remained enterprising market, as the export volume stood at 429,243 tonnes and the earning remained at $361.49 million. The estimated for export for 2020 has been kept at 164,070 tonnes and the revenue earnings to stay up at $169.50 million. When the analysed export volume and earnings of 2020 get summed with the preceding three years it reflects 593,313 tonnes and $530.99 million respectively. Austria’s aluminium scrap export in 2017 has been recorded at 95,099 tonnes and the earning stood at $61.83 million, whereas the scrap...
Kaeser Compressors freshly adds to its 5m3 range of portable air compressors, the Mobile M59, offers a range of pressures from 6 an 14 bar. The unit’s range is enabled by its flexible pV control system, which allows it to operate a breaker at a maximum pressure of 7 bar or perform sandblasting work at 10 bar. The infinitely adjustable maximum pressure (p) directly influences the maximum flow rate (V). The pV control system also serves to counteract potential pressure losses when working with long hose lines. Kaeser said: “The unit’s Sigma Control Smart controller makes it easy to set the pressure. At its lowest pressure setting, the M59 can provide a flow rate of up to 5.5m³/min. The new model is powered by a Stage V compliant Hatz engine.” According to the company: “Since the engine...
The Indian aluminium industry body, Aluminium Association of India (AAI), on 4 th August’20, appealed to the Finance Minister and Commerce Minister of the country to sustain with the processing of MEIS (Merchandise Exports from India Scheme) applications through DGFT MEIS Portal and continuation of MEIS scheme with improved rate from 2% to 5% for all aluminium products to abide the current economic situation. The letter was sent to evoke the Government anticipating slashing the fund's outlay for MEIS (Merchandise Exports from India Scheme) from around INR 45,000 crore in FY 2019-20 to INR 9,000 crore for April-December’20 and diverting these funds for other purposes. Onwards 23 rd July, the DGFT has also blocked the MEIS module from accepting new applications to limit the issuance of any...
Vedanta hikes its aluminium products price for the third time in a row. With effect from Wednesday, 05 August 2020, the prices of some aluminium ingots are in the range of INR 146,500-159,500 per tonne, an increase of 1.74% or INR 2,500 per tonne from INR 144,000-157,000 per tonne on July 30. With the latest hike, Vedanta’ billet now stands at INR 154,500 per tonne on August 5, a rise of INR 2,500 per tonne or 1.64% from INR 152,000 per tonne on July 30. 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 so far due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of Production (CoP) in the fourth quarter of...
