Shareholders of Slovenia's Impol 2000 are set to consider a proposal to bring the company's shares onto a regulated market, potentially opening up trading opportunities while introducing tighter corporate disclosure requirements. The proposal will be discussed at a shareholders' meeting scheduled for December 3. Impol 2000, which owns Impol Group, the country's largest producer of aluminium semi-finished products, says the move is intended to improve the ease and speed of share transactions. However, entering the regulated market would also require the company to meet additional transparency standards and comply with rules governing related-party transactions. As of October 29, Impol 2000 had 1,066,767 ordinary, freely transferable, registered no-par value shares. Of these, 979,887...
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...
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According to a recent report, Lindian Resources has appointed Yves Occello as Non-Executive Director, with effect from July 29. Yves is joining Lindian Resources with total 45 years of experience in the bauxite and alumina industry. He previously served as Chief Operating Officer at Pechiney’s Bauxite and Alumina Division. He had also been a Director of Technical Projects at Alcan and Rio Tinto Alcan. Additionally, Yves held a number of board positions at Guinea's largest bauxite producer - Compagnie de Bauxite de Guinee, one of Europe's largest alumina refineries - Aluminium of Greece, and the first junior miner to begin bauxite operations in Guinea - Alufer Mining. Further, Yves is an Honorary Director of the Chinese Academy of Sciences in Beijing. "Yves' comprehensive understanding of...
Australian Bauxite Limited is ready to make shipment from its Bald Hill mine near Campbell Town northern Tasmania ahead of schedule. The company will ship 35,000 tonnes of cement grade bauxite from the mine on 8 August. Australian Bauxite Limited is able to press ahead during the COVID-19 pandemic. The company secured sales contracts for fertiliser-grade bauxite and cement-grade bauxite worth more than $2.5 million. “This project was accelerated so as to use the transport and port infrastructure during a period of under-utilisation, to benefit from low fuel prices and to allow the cement-grade customer to take advantage of shipping opportunities. The strategy has worked well for all concerned,” the company said. Mining, processing and blending at the Bald Hill mine site was completed by...
The latest data from the Aluminium Association of Canada reveals that Canada's exports of standard P1020 aluminium to the United States have decreased in July from the previous month. The Association estimates the exports to drop by about 30 per cent at the end of the month. So, from 155,000 tonnes in June, Canada's exports to the US in July are likely to come in at 112,000 tonnes. This downward trend started in June with a month-on-month fall of 16 per cent. So, over the last two months, the total downfall in primary aluminium exports from Canada to the US is estimated to cross 40 per cent, indicating a recovery in demand for Value Added Products (VAP). Production at aluminium smelters in North America shifted from Value Added Products to P1020 during the initial months of 2020 in...
The average spot alumina price in China has dropped by RMB 27 per tonne on Wednesday, 29 July 2020 to stand at RMB 2416 per tonne. Alumina prices declined across all major markets in China, except South. The prices of alumina in East, Central, and North China markets have declined by RMB 25 per tonne, RMB 30 per tonne and RMB 30 per tonne to stand at RMB 2400 per tonne, RMB 2410 per tonne, and RMB 2410 per tonne. Alumina-South remains unchanged at RMB 2520 per tonne. A00 aluminium ingot price on Wednesday, 29 July 2020 has extended rise by RMB 110 per tonne to stand at RMB 14780 per tonne. This marks the third consecutive increase in aluminium ingot prices. The price is expected to move within a range of RMB 14760 per tonne-14800 per tonne. Aluminium prices in Foshan, Wuxi, and Hangzhou...
The introduction of “National Mineral Index” in India will support the mining sector to become a competitive and engaging uniform competition in auctions and active participation by small scale mining firms. The roll-out of the National Coal Index (NCI) has brought about a switch by bringing in much-needed transparency in coal mining. As per industry experts: “The decision to open the coal sector for commercial mining, implementation of the National Coal Index (NCI) and auction of coal blocks will help the country save around INR 80,000 crore per year on import by boosting production.” The 'National Mineral Index' will capture details from all price sources such as captive and non-captive mines. As per Industry professional: “With abundant reserves of bauxite and coal, India has the...
Nonferrous metals on the LME mostly increased, and the US dollar index halted its continuous declines and advanced 0.13 per cent. Three-month LME aluminium strengthened 0.91 per cent to end at US$ 1,725.50 per tonne on Tuesday, July 28, after hitting its highest in nearly five months at US$ 1,728 per tonne earlier in the session. It is likely to move at US$ 1,700-1,740 per tonne today. Both LME aluminium cash (bid) price and LME official settlement price, as of Tuesday, increased by US$ 9.5 per tonne to stand at US$ 1671 per tonne. 3-months bid price and 3-months offer price stood at US$ 1709 per tonne, up by US$ 8.5 per tonne from US$ 1700.50 per tonne on July 27. Dec 21 bid price and Dec 21 offer price came in at US$ 1793.50 per tonne compared to US$ 1784.50 per tonne on the previous...
A rapid-paced energy transition through an uninterrupted shift to electric vehicles has designed a new, significant demand stream for aluminium and vital opportunities for auto supply chain organisations. Steel being cheaper has been the initial choice; however, aluminium consumption in electric vehicles is expected to accelerate over coming years as COVID-19 dashes the move to a green economic recovery. Aluminium being lighter than steel is now the metal of pick in a range of parts, from the chassis, structural components i.e. the shock tower and internal panels to housing for motors and the batteries that power electric cars. Global aluminium producers such as Rusal, Rio Tinto and Glencore are set to be in an advantageous position. Auto components making firms such as Mexico's Nemak,...
South Korea's imports of aluminium scrap from the US stood at 24,100 tonnes in February, with a year-on-year decrease of 2%. South Korea had imported 24,600 tonnes in April 2019. On a monthly basis, imports reduced by 12.36% from 27,500 tonnes in March 2020, as updated by the US Census Bureau. In the first four months of 2020, South Korea imported 97,600 tonnes of aluminium scrap, from 93,400 tonnes imported in the first four months of 2019. This marked an increase of 4200 tonnes year-on-year. South Korea's imports of total aluminium (semi-finished products, crude metals and alloy and scrap) from the US stood at 26,400 tonnes in April 2020, a decrease of 3.3% from 27,300 tonnes in April 2019. Imports declined by 10.8% from March’s imports of 29,600 tonnes. In January-April, total imports...
Rusal in its Q2 2020 operating results, released on Monday July 27, revealed that the company’s bauxite production increased by 8.8 per cent quarter-on-quarter to stand at 3.89 million tonnes, primarily buoyed by the hike in output at Timan due to low comparison base of Q1 20, affected by seasonal factors. The output of alumina, on the other hand, remained almost flat over the quarter at 2 million tonnes. Rusal’s alumina refineries in Russia accounted for 35 per cent of the total output, producing 703,000 tonnes in Q2 2020. Aughinish alumina refinery produced 463,000 tonnes of the ore, while Nikolaev refinery churned out 409,000 tonnes. Rusal’s third party bauxite sales in Q2 2020 were 75,000 tonnes. In the entire first half of the year, the sales remained at 75,000 tonnes, down 12.4 per...
The leading global aluminium producer, Rusal, has released its operating results for the second quarter of 2020. The company reported that its aluminium production in Q2 2020 dropped by 1.4 per cent from the earlier quarter to 927,000 tonnes, Siberian smelters representing 93 per cent of the output. Rusal’s aluminium sales, on the other hand, increased by 6.8 per cent quarter-on-quarter to 976,000 tonnes in Q2 2020, amid the downfall in production. However, the sales of value-added products declined by 14 per cent Q-o-Q to 363,000 tonnes, demonstrating a decline of VAP share in total sales mix to 37 per cent versus 46 per cent in Q1 2020, owing to the COVID-19 pandemic. Backed on the diversified client base, Rusal successfully adjusted the regional sales geography in line with the new...
Can Manufacturers Institute (CMI) has appointed two new vice presidents: Michael J. Smaha as vice president of government affairs and Derek D. Swick as vice president of regulatory and technical affairs. Smaha will lead CMI's federal and state legislative strategy. Swick will spearhead the regulatory and scientific issues. "Both Mike and Derek bring passion and energy, along with a wealth of experience in their respective disciplines," said Budway. "We are very excited to build the public affairs department at CMI and look forward to these gentlemen strengthening the industry’s sustainability narrative, along with the strong innovations made in can manufacturing, with federal and state legislators, regulators and other important stakeholders." Smaha has more than 20 years of experience in...
The economy of Portugal is ranked 42nd in the World Economic Forum's Global Competitiveness Report for 2017–2018. The great majority of international trade is done within the European Union. The Portuguese economy bailed out by the European Union nine years ago, is booming. It is enjoying its highest economic growth in nearly two decades. Portugal’s import-export of aluminium foil reflects a continuous growth during 2017-20, though the import market remains extremely strong when compared to the export of aluminium foils. The southern European nation’s aluminium foil import during 2017-19 has been recorded at 26,082 tonnes and the revenue expenditure stood at $103.65 million. The estimated import for 2020 has been analysed at 10,505 tonnes and the expenditure might reach $42.41 million....
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to trend lower over the weekend. Inventories stood 699,000 tonnes as of Monday July 27, down 3,000 tonnes from last Thursday July 23. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi, Gongyi and Hangzhou dropped by 3,000 tonnes, 3,000 tonnes and 1,000 tonnes to stand at 213,000 tonnes, 35,000 tonnes and 96,000 tonnes on Monday July 27 2020. Stocks in Nanhai, Tianjin and Linyi remained unchanged at 174,000 tonnes, 56,000 tonnes and 5,000 tonnes. Inventories of aluminium in Shanghai increased by 5,000 tonnes to 117,000 tonnes while stock in...
Prebaked anode exports by China totalled 796,500 tonnes in the first half of 2020, up 23.4 per cent from a year earlier, found the latest customs data. The exports were barely hit by the COVID-19 outbreak as producers increased shipments to overseas to minimize the buildup inventory. However, for the second half of the year, SMM expects China’s exports of prebaked anode to slow down amid a decline in orders as some of the foreign aluminium smelters have reduced their capacity in response to the bleak market due to the continued spreading of coronavirus. Customs data showed that China’s prebaked anode exports in the month of June stood down month-on-month by 30.95 per cent and year-on-year by 12.78 per cent to 114,000 tonnes. Canada, Russia, and Malaysia were the top three importers in...
Three-month LME aluminium rose 0.77% to end at a new more than four-month high of US$1,710 per tonne on Monday in choppy trading. It is likely to move at US$1,690-1,730 per tonne today. As of Monday July 27, LME aluminium cash (bid) price stands at US$ 1661.50 per tonne, LME official settlement price stands at US$ 1661.50 per tonne; 3-months bid price stands at US$ 1700.50 per tonne, 3-months offer price is US$ 1700.50 per tonne; Dec 21 bid price stands at US$ 1784.50 per tonne, and Dec 21 offer price stands at US$ 1784.50 per tonne. The LME aluminium opening stock stood at 1668500 tonnes. Live Warrants totalled 1388025 tonnes, and Cancelled Warrants were 280475 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1702.76 per tonne. SHFE Aluminium Price Trend Benchmark...
According to the Shanghai Metals Market, the average alumina spot price has declined for the second consecutive day by RMB 24 per tonne to stand at RMB 2,443 per tonne, as of Tuesday, July 28. The price in the east China market has dropped the highest by RMB 40 per tonne to RMB 2,425 per tonne, while that in the central and north has dwindled by RMB 25 per tonne to RMB 2,440 per tonne. In the south, however, the alumina spot price has remained restrained at RMB 2,520 per tonne. The imported alumina price has also declined by RMB 25 per tonne to clock at RMB 2,425 per tonne. The Australian alumina spot price has remained unchanged, on the other hand, at US$ 281 per tonne. The A00 aluminium ingot price in China, on the other hand, has recorded an increase of RMB 90 per tonne to come in at...
Guinea Alumina Corporation (GAC) on 27 th July’20 made public that its employees have completed 12 months without a lost-time accident. With a frequency rate of 0.61%, this performance positions GAC among the most successful mining companies in the world in terms of occupational health and safety. Abdul Nasser Bin Kalban, CEO of EGA, the sole owner of GAC, told the general meeting of company employees: “I am impressed with the performance of the GAC in health and safety and I want to congratulate each of you. Last May, you reached 12 months with Zero lost-time accidents. Your total recordable accident frequency rate is 0.61, which makes GAC a world-class organization with one of the lowest rates in the mining world. " This great performance is the outcome of the efforts made by all GAC...
The major players of the Indian Aluminium industry body have solicited a top tax refund rate of 12-13% under a suggested export scheme, emulated to the 2% receivables under the existing one. The Aluminium Association of India adds up Hindalco Industries, Bharat Aluminium Company, National Aluminium Company and Jindal Aluminium Ltd among its members. The Indian Aluminium producers lobby pledged the commerce and industry ministry for an initial 5% refund rate, eventually going up to 12-13%, adducing the high burden of un-rebated taxes and duties, which are about 15% of production cost. India’s top aluminium exports incorporate unalloyed and alloyed aluminium ingots, billets, slabs, wire rods and plates. However, the nation has exported aluminium products worth $5.5 billion in the previous...
