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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National Aluminium Company has increased its aluminium ingot and aluminium product prices with effect from Friday, July 24, following a cut of nearly 2 per cent with effect from July 18. With the latest hike, Nalco’s aluminium ingot price has come in at INR 143,700-147150 per tonne, up INR 2,950 per tonne or 2.09 per cent from INR 140,750-144,250 per tonne. Nalco is now selling its aluminium billets at INR 147,100-149,750 per tonne, while its aluminium wire rods are being currently sold at INR 147150-151500 per tonne. Like any other major Indian aluminium producers, Nalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange, which in the last one week during July 20-23 recorded back-to-back rises from US$ 1621 per tonne to US$ 1661 per tonne. So,...
Kaiser Aluminum Corporation, a leading producer of semi-fabricated specialty aluminium products, announced second quarter 2020 results. Net sales for the second quarter 2020 were $276 million, from $375 million in the prior year period, reflecting a 24% decrease in shipments and a 4% decrease in average selling price. Value added revenue decreased to $175 million from $209 million, reflecting a 24% decrease in shipments as demand across end markets was impacted by COVID-19 as customers temporarily shut down operations and curtailed deliveries during the quarter. “Second quarter shipments and value added revenue reflect the impact of lower demand across our end markets due to the effects of COVID-19,” said Keith A. Harvey, President and Chief Operating Officer. “As we experienced rapid...
China’s Ministry of Ecology and Environment has issued the tenth batch of metals scrap import quotas for 2020 on Monday, July 27, allowing an additional 3,970 tonnes of high-grade aluminium scrap to enter into China, according to Shanghai Metals Market report. The latest batch of aluminium scrap import quotas is sharply down by 205,690 tonnes from the previous batch that had allowed 209,660 tonnes of additional high-grade aluminium scrap imports to China, the largest since April. In the seventh and eighth batches of quotas, the authorities had allowed 1,480 tonnes and 5,840 tonnes of additional scrap to enter China. The ninth batch granted the most scrap metal import quotas since April, easing fears over a shortage of supply after the new system for bringing in high-quality scrap material...
India’s imports of aluminium scrap from the US stood at 10,400 tonnes in April, with a month-on-month decrease of 70%. India had imported 34,100 tonnes in March 2020. On a yearly basis, imports reduced by 51.4% from 21,400 tonnes in April 2019, as updated by the US Census Bureau. In the first four months of 2020, India imported 106,000 tonnes of aluminium scrap, from 83,000 tonnes imported in the first four months of 2019. That was an increase of 27.71% year-on-year. India’s imports of total aluminium (semi-finished products, crude metals and alloy and scrap) from the US stood at 10,600 tonnes in April 2020, a drop of 51% from 21,600 tonnes in April 2019. Imports declined by 69% from March’s imports of 34,300 tonnes. In the first four months of 2020, total imports came in at 107,000...
Tiberius has joined Aluminium Stewardship Initiative as a new General Supporter member. This brings the total number of ASI Members to 128. “Tiberius are very excited to be joining the Aluminium Stewardship Initiative (ASI). The ASI has already made great progress in establishing the ASI Performance and Chain of Custody Standards, yet as we all know, there is still more work to be done. Being amongst the most relevant distributors of aluminium in Europe, Tiberius is looking forward to working with ASI and using our in-depth knowledge and consumer relationships to help drive forward the industry shift needed for a sustainable low-carbon future within the aluminium supply chain,” Oliver Jones – Head of Sustainability. Tiberius is diversified commodity investor and manager. For more than a...
The average spot alumina price in China is down by RMB 24 per tonne on Monday, 27 July 2020. Alumina price stands at RMB 2467 per tonne, after declining by RMB 4 per tonne on Friday. Alumina prices have decreased in Central and North markets in China. The prices of alumina in Central, and North China markets have reduced by RMB 35 per tonne and RMB 25 to stand at RMB 2465 per tonne each. Alumina price in East and South remains unchanged at RMB 2465 per tonne and RMB 2520 per tonne. A00 aluminium ingot price has risen by RMB 40 per tonne to RMB 14580 per tonne on Monday, 27 July 2020, from its previous price of RMB 14540 per tonne. The price is expected to move within a range of RMB 14560-14600 per tonne. Aluminium ingot prices in Foshan, Wuxi and Hangzhou stand at RMB 14530 per tonne, RMB...
Aluminium Bahrain B.S.C. (Alba) has released financial results for the second quarter of 2020 and the first half of the year. The leading aluminium producer’s (ex-China) performance was impact by lower LME price, which was partially offset by higher sales’ volume. The company reported a gross profit of BD21.6 million (US$57.6 million) in Q2 2020, up by 41 per cent from BD15.4 million (US$40.9 million) during the same period last year. With this, the company’s gross profit in the first half of the year totalled BD55.2 million (US$146.8 million), up by 241% Y-o-Y from BD16.2 million (US$43.2 million). Alba reported a total comprehensive loss of BD19.8 million (US$52.7 million) in H1 2020, up by 4 per cent, compared to a total loss of BD19.1million (US$50.9 million) in H1 2019. In Q2 2020,...
The US dollar index touched a new 22-month low on Friday, July 24, while the safe-haven yen rose to its highest in more than four-months, as investors reacted to simmering US-China tensions, a continued rise in coronavirus cases as well as hopes for another US stimulus package. Three-month LME aluminium fluctuated to close 0.61 per cent lower at US$ 1,697 per tonne on Friday, posting a weekly gain of 2.04 per cent. It is likely to continue to move at US$ 1,680-1,720 per tonne today. On Friday, July 24, both LME aluminium cash (bid) price and LME official settlement price edged lower at US$ 1654.50 per tonne from US$ 1661 per tonne. 3-months bid price and 3-months offer price stood at US$ 1692 per tonne, down by US$ 4.5 per tonne from US$ 1697.50 per tonne on July 23. Dec 21 bid price and...
Beams Plus has once again tapped into Briefing for its latest reiteration of the Heavy Duty suitcase, pursuing on their long-established partnership. The Heavy Duty has been wrapped completely in aluminium this time around to match its name, offering unprecedented structural integrity while keeping weight to a minimum, stylized with a modern metallic lustre. Adding more to its durability, the aluminium shell is complemented with a contrasting black polypropylene frame. On the interior, a partition panel keeps all your packing neat and tidy, while an integrated hanger store for all essentials once the user arrives at a destination. The Briefing x Beams plus Heavy Duty suitcase comes in two sizes: an 8.5-pound 35L carry-on and a 13-pound 98L check-in size, with prices ranging from $741 to...
The Indonesian Mining Association (IMA) appealed that an increase in value-added or in the mining sector still needed to work on seriously, especially for bauxite commodities. Djoko Widajatno, Executive Director, IMA revealed bauxite is a mineral that does not have much reserves compared to other minerals such as nickel. Although currently, the industry that absorbs Alumina and aluminium finished products is not widely available domestically. Seeing this prospect, Djoko stated, the construction of a processing and refining plant needs to be a priority and accelerated. Moreover, the aluminium industry is a basic industry that needs to be developed. He added: "The prospect of downstream is very good to support the industry. By looking at the needs of aluminium for the building materials...
On 23 rd July’20, the State Government of Tamil Nadu signed 16 MoUs apprehending fresh investments worth more than INR 5100 crore. As per the Govt, it will support to deliver over 6500 jobs. In two months the Govt has signed MoUs valued for INR 30,664 crore investment which is visualized to create 67,200 new jobs to the state. MoUs for INR 10,399 crore was signed with eight firms on 20 th July’20 which is set to bring jobs to 13,507 people. On 27 th May’20, agreements were signed with 17 companies for investments to the tune of INR 15,128 crore with a potential to provide employment opportunities to 47,150 people. Now on 23 rd July’20, MoUs were signed for INR 5,137 crore more investments for 16 new initiatives that would deliver 6,555 new jobs. As per the official release, Super Auto...
Hindalco has hiked its aluminium ingot and aluminium product prices by INR 2,000 per tonne or 1.42 per cent with effect from Friday, July 24, following a cut last week on July 17. With the latest increase in price, Hindalco is selling its aluminium ingot at INR 143,250 per tonne, compared to INR 141,250 per tonnes on July 17. Hindalco’s aluminium wire rod price has been increased to INR 154,350 per tonne from INR 152,350 per tonne, while the price of its aluminium billet has been raised to INR 150,350 per tonne from INR 148,350 per tonne. 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 last one week during July 20-23, the three-month aluminium futures price of aluminium on LME...
Ball Corporation has inked two virtual power purchase agreements (VPPAs) in Europe – one for the Corral Nuevo project with wpd and one for the Brattmyrliden project with Falck Renewables – for 93.4 megawatts (MW) of additional wind energy. The agreement will allow the company to address approximately 63% of the European electricity load utilized in its aluminium beverage packaging plants (excluding Russia) with new renewable energy. This will also help the company to reduce its Scope 2 greenhouse gas emissions generated in Europe by approximately 60% compared to 2019. "These milestone renewable energy deals in Europe affirm Ball's steadfast commitment to reduce absolute carbon emissions within our operations and through our value chain," said Kathleen Pitre, chief commercial and...
Ardagh Group announced its results for the second quarter ended June 30, 2020. The company reported revenue of $1,606 million for the quarter, 5% lower than the prior year at constant currency, with growth of 3% in Metal Beverage Packaging. Paul Coulson, Chairman and Chief Executive, said “The Group performed well in the quarter, reflecting strong execution and the defensive end markets we serve. Earnings grew in Metal Beverage Packaging, while Glass Packaging’s performance was very resilient. Demand for sustainable packaging remains strong and we continue to progress our growth investment projects. We also availed of favourable markets to improve our capital structure and ended the quarter with total liquidity of $1.6 billion. Overall trading trends in June were positive and we are...
The prevention measures from harmful sediment flowing into the Flathead River from the closed down Columbia Falls Aluminium Company have been commenced. This is the first remediation project to take place at the Columbia Falls Aluminium Company Superfund site. John Stroiazzo, CFAC Project Manager said: “The Flathead River is slowly eroding the banks of two ponds used by the now-defunct aluminium company. The ponds contain harmful sediment.” "We don’t think that these ponds will last another two years." This has been the major reason; the U.S. Environmental Protection Agency approved the work ahead of schedule. The two-year project, which will begin this fall, also incorporates the removal of dams that will return the Flathead River to its original channel. Various researches have...
Rusal has announced today, on July 24, that it has completed the project of converting its Krasnoyarsk Aluminium Smelter to the EcoSoderberg technology. The recently completed retrofitting project, which required an expenditure of US$ 74 million, involved modifying a total of 1954 reduction cells to use the EcoSoderberg technology. Between 2004 and 2019, Krasnoyarsk Aluminium Smelter allocated over US$ 390 million in total towards the implementation of various modernisation projects. The EcoSoderberg technology was developed by the Engineering and Technology Centre of Rusal. It is recognised as the best available technology in the aluminium production section by Rosstandard. Experts say that the EcoSoderberg process is one of the most efficient and environmentally-friendly production...
Vedanta Limited has increased its aluminium ingot and aluminium product prices with effect from Friday, July 24, following a cut last week on July 17. With the latest hike, the company’s aluminium ingot price is now ranging between INR 141,750 per tonne and INR 154,750 per tonne, up INR 1,750 per tonne or 1.25 per cent from INR 140,000-153,000 per tonne on July 17. Vedanta’s aluminium billet price has come in at INR 149,750 per tonne with effect from today, July 24, higher by also INR 1,750 per tonne or 1.18 per cent from INR 148,000 per tonne. The company, after the increase today, is selling its aluminium wire rod at INR 149,250-156,750 per tonne compared to INR 147,500-155,000 per tonne on July 17. The Indian aluminium producers generally link prices of its products to the three-month...
Luxembourg has a strong and long-standing track record in manufacturing and processing both traditional and innovative materials including, high-performance steel, aluminium, plastics and polymers, value-added composites, functionality glass processed, wood panels and adhesive paper. Hydro's largest aluminium remelting operation in Europe is located in Clervaux. The plant remelts aluminium scrap into extrusion ingot, with capacity topping 115,000 metric tons per year. The European nation’s aluminium scrap import during 2017-19 has been recorded with high volume and expenditure, as the import volume during the phase stood at 419,869 tonnes and the revenue expenditure remained at $527.30 million. The scrap import projection for 2020 has been evaluated at 137,101 tonnes and expenditure to...
