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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Qatar Aluminium Manufacturing Company, a 50% joint venture partner in one of the most cost efficient aluminium smelters globally, based in Qatar, announced a net profit of QR 14.6 million for the six months period ended 30 June 2020. The company’s revenue amounted to QR 1,121 million, down by 9% YoY, as the global pandemic impacted major industries across the automotive, transport jets and construction sectors. QAMCO’s average selling prices declined by 15% YoY, and contributed QR 186 million negatively to the net profits. “This was partially offset by an upside in the sales volumes, which contributed QR 71 million to the 1H-20 net profits, as compared to last year.” QAMCO’s share of joint venture’s EBITDA stood at QR 306 million in H1 2020, down by 10% year on year. Mr. Abdulrahman Ahmad...
Frank and Honest has announced that it has launched its new aluminium coffee capsules, embarking a significant step in sustainable journey. The company says that these aluminium capsules will replace the entire usage of plastic in its coffee capsules. Frank and Honest also explains that using aluminium in capsules will reduce the product's environmental footprint, given that they will be lightweight and recyclable. Besides, aluminium capsules will also notably improve the quality of the coffee as they are airtight, thereby, keep the coffee inside fresh for longer and fully protected from moisture, oxygen, light, and heat. The new coffee capsules are also compatible with all generation Nespresso® machines, excluding Nespresso® Vertuo. When it comes to recycling these capsules, there are...
Three-month LME aluminium hits its highest since March 13 at US$1,709 per tonne earlier in the session, ending up 1.07% to US$1,707.5 per tonne on Thursday. The contract is likely to move at US$1,680-1,720 per tonne today. As of Thursday July 23, LME aluminium cash (bid) price stands at US$ 1661 per tonne, LME official settlement price stands at US$ 1661 per tonne; 3-months bid price stands at US$ 1697.50 per tonne, 3-months offer price is US$ 1697.50 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 1640425 tonnes. Live Warrants totalled 1375250 tonnes, and Cancelled Warrants were 265175 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1690.48 per tonne. SHFE...
The Americans are facing a different type of dearth amid the COVID-19 breakout. It is the shortage of aluminium cans and the consequence can lead to pause of peoples preferred alcoholic and non-alcoholic canned beverages. Ann Moore, Spokesperson, Coca-Cola said: “Aluminium cans are in very tight supply with so many people buying more multi-pack products to consume at home.” Presently, companies selling products in aluminium cans have to adjust. As per our sources, brewers like Molson Coors, Brooklyn Brewery, and Karl Strauss are reducing on the brands they sell. Adam Collins, Spokesperson, Molson Coors said: “Everyone who makes anything that goes into a 12-ounce can is being challenged to some respect.” During the ongoing coin deficit, consumers’ changing habits during the COVID-19...
China’s imports of unwrought aluminium and aluminium products hit to their highest in 11 years in June on lower overseas prices. China, the world’s top aluminium producer, imported 288,783 tonnes of aluminium last month, an increase of 493.1% from June 2019, the General Administration of Customs said. Import was more than double May’s imports of 119,145 tonnes as buyers took advantage of the differences between domestic and international prices, Reuters reported. The country shipped out 354,038 tonnes of unwrought aluminium and aluminium products in June. That was down 30% year-on-year, customs data showed. In the first half of 2020, imports were 816,592 tonnes, up 219.2% year-on-year. Exports of aluminium products stood at 2.37 million tonnes, down 20.6% from a year earlier. The customs...
The Shanghai Metals Market data shows that the average spot price of alumina has dropped by RMB 4 per tonne after remaining restrained for the last ten days. On Friday, July 24, the alumina price has come in at RMB 2,491 per tonne compared to RMB 2,495 per tonne during July 13-23, found SMM. In the east and north, the average alumina price has declined by RMB 10 per tonne to stand respectively at RMB 2,465 per tonne and RMB 2,490 per tonne, while that in the central and south has continued to hover at RMB 2,500 per tonne and RMB 2,520 per tonne, respectively. The prices of imported alumina and Australian alumina FOB have also not recorded any changes today from RMB 2,450 per tonne and US$ 281 per tonne, according to SMM. The A00 aluminium ingot price has also recorded a downfall of RMB 10...
As updated by Shanghai Metals Market, inventories of aluminium billet in China increased after two weeks of decline on higher arrivals and lower shipments. Stocks of 6063 aluminium billet across five major consumption areas in China stood at 68,600 tonnes as of Thursday July 23, an increase of 3,600 tonnes from Thursday. The chart below indicates the current status of aluminium billet inventories across China in more details: Inventories of aluminium billet in Foshan, and Wuxi, came in at 21,300 tonnes and 14,400 tonnes on Thursday, up from 20,600 tonnes, and 13,750 tonnes on July 26. Stocks in Changzhou declined from 11,940 tonnes to 10,750 tonnes. In Huzhou and Nanchang, aluminium billet inventories increased to stand at 14,000 tonnes and 8,150 tonnes today, from 12,000 tonnes and 6,750...
Cambodia will gracefully welcome another 140km of the northern railway to connect the Thai border to better facilitate the transportation of goods between the two countries. Both the countries officially floated rail network link in late 2018. On 22 nd July’20, Vasim Sorya, undersecretary of state at the Ministry of Public Works and Transport, said: “Thailand promised to provide the new rail after the launch that year.” “The Thai side will hand over the around 140km rail in August or September. It will strengthen our railways and improve the quality of goods transportation between the two countries,” he said. Sorya added: “After the northern railway is upgraded, it will be able to carry 20 tonnes and increase the speed to up to 70km/h from the current 30km/h.” Connecting Phnom Penh to...
Hydro announced the signing of a Memorandum of Understanding (MoU) with Golar Power for the use of environmentally friendly natural gas at the Hydro Alunorte alumina refinery in Brazil. The company aims to replace a major part of its current fuel oil consumption at the refinery with natural gas. “Hydro is committed to drive sustainability and industry best practices. The LNG project will help make our operation more sustainable and will enable access to natural gas for other industries and consumers in the state of Pará,” said John Thuestad, Executive Vice President for Hydro’s Bauxite & Alumina business area. The supply of liquefied natural gas (LNG) is expected to be available in Barcarena during 2022. Hydro aims to adapt the calcination process and part of the steam generation at...
Despite the robust second-quarter earnings, Norsk Hydro analysed that it might face higher production costs going ahead in the third quarter of 2020. The overall production costs of alumina fell to a four-year low of $192 per tonne in Q2 2020, but in the third quarter, rising costs would likely add $15-20 a tonne, said Norsk Hydro executives on a call with analysts. “If we look into third-quarter we expect to see an increase in the main raw materials ... costs are expected between 20-30% for the two materials (fuel oil and caustic soda),” chief financial officer Paal Kildemo said. Hydro’s Chief Executive Hilde Merete Aasheim even signalled that higher production costs might mean lower profit in the third quarter of 2020. In the second quarter results, Hydro reported an increase in its...
Impol 2000 of Slovenia, the management company controlling local aluminium products manufacturer Impol Group has announced it will distribute a dividend of € 3.00 per share for 2019, down from the previous year's pay-out of € 3.75. On 17 th July’20, the decision was approved by the company shareholders during their meeting. Impol 2000 declared this statement at the Ljubljana stock exchange on 22 nd July’20. Accordingly, a total of €3.2 million from its €39.8 million distributable profit booked at end-2019 will go to the shareholders, while the remaining will stay undistributed. In April’20, the company was still pondering to skip the dividend distribution this year in regards to the continuing COVID-19 epidemic and the menacing economic recession. The essential activity of Slovenska...
According to Shanghai Metals Market, the social inventories of primary aluminium ingots have extended week-on-week decline on July 23 across eight major consumption areas, including SHFE warrants. Declining by 6,000 tonnes from the previous week, the inventories today have come in at 702,000 tonnes. On last Thursday, July 16, the primary aluminium stocks were at 708,000 tonnes after declining by 4,000 tonnes week-on-week. Meanwhile, on Monday, July 20, the primary aluminium ingot inventories recorded a hike of 4,000 tonnes over the weekend after more than three months to stand at 712,000 tonnes, found SMM. So, compared to Monday, the stocks today have stood down by 10,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: As...
When the world is united with a string of digitalization, how do we not meet and greet each other even amidst the COVID-19 pandemic? Yes, you guessed right, we mean virtual meeting and conference, and for that reason, AlCircle for the first time presenting an online “Global Aluminium Expo 2020” from October 6-7, 2020. This expo is aimed at bringing all the aluminium industry partners under one umbrella virtually; whereby, technology will drive your physical presence and enable you to reach out to your industry associates to build a stronger network and sustainable business. With the intention of creating an immersive real-live experience, this online exhibition will equip all its attendees, exhibitors & sponsors with a host of digital tools such as video calls, exchange of digital...
Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Argentina's economic performance has historically been very uneven, with high economic growth alternating with severe recessions. The major industries of the South American nation are food processing and beverages motor vehicles and auto parts appliances and electronics machinery and equipment chemicals pharmaceuticals glass steel and aluminium cement textiles tobacco products publishing furniture leather. The aluminium cans import of Argentina during 2017-19 displays highly uneven, as the import volume during the phase recorded, was 26,614 tonnes and the expenditures stood at $221.66 million. The estimated import for 2020 was evaluated...
Alcoa Intalco Works, an aluminium smelter located in Ferndale, North America, is reportedly conducting its final round of layoffs this week; whereby, 700 employees are going to lose their jobs. The plant has been one of the main industries in Ferndale for over 50 years. “We produce all the primary aluminum needed for wheels and stuff like that,” said Jason Swendt, an employee and one of the lucky few who could save his job at the plant through the rounds of layoffs. In April, Alcoa had announced a curtailment, leaving a bare minimum number of employees to keep the plant in operating shape, hoping that any company wills to purchase it. This smelter is the last one in the west of Mississippi and one of just seven left in America. Most of the aluminium industry has shifted operations from...
Hydro said in its Q2 results report that global primary aluminium consumption in Q2 declined 9 per cent due to the coronavirus pandemic. The world consumption stood at 15.482 million tonnes in Q2 as compared to 17.01 million tonnes in Q2 2019. In January-June, primary aluminium consumption came in at 29.203 million tonne as against 32.237 million tonnes in January-June 2019, according to Hydro’s report. "Global primary aluminium consumption was down 9% compared to the second quarter of 2019, driven by a combination of around 28% decline in world outside China and an increase of 5% in China," Hydro said in its Q2 results report. "The COVID-19 situation continues to cause significant market uncertainty, with global GDP and industrial production falling during the quarter, leading to a...
Rio Tinto announced that it has submitted a formal complaint to the Icelandic Competition Authority (ICA) alleging abuse of market dominance by energy supplier Landsvirkjun to the company’s ISAL aluminium smelter in Iceland. The company is asking the ICA to address anti-competitive conduct by Landsvirkjun through discriminatory pricing and long-duration power contracts. Rio Tinto Aluminium chief executive Alf Barrios said “Landsvirkjun’s abuse of its dominant position in the Icelandic energy market needs to be addressed or Iceland is in danger of losing export industries with major employment like ISAL. ISAL pays significantly more for its energy than other aluminium producers in Iceland, which undermines its competitive position in the market. We cannot continue to produce aluminium in...
On 21 st July’20, the Ivory Coast Government relinquished all powers to Lagune Exploitation Bongouanou SA, to develop the Bénéné bauxite project. This is the only mining company owned by Ivorian private capital. This concession is the outcome of the signing of addendum n ° 1 to the mining agreement concluded on 3 rd November 2017. The signature comes after the transfer to the signatory company of the valid mining license for bauxite, previously granted in the department of Bongouanou to the company Lagune Exploitation Afrique SA. It is the result of negotiations between Côte d'Ivoire and the signatory company, within the negotiation committee which met on 10 th and 24 th June’20. The approved document comes with an important section on the obligations of the company in terms of...
