ClearFlow Metalworks plans to invest $28 million in a new aluminum manufacturing facility in Russellville, Kentucky, marking an expansion of secondary aluminum production in the United States. The project is expected to create 50 full-time jobs, with its first phase designed to deliver an estimated annual production capacity of approximately 100,000 tons. The company, which focuses on sustainable aluminum recycling and production, will develop the facility in phases. Phase I will feature a secondary aluminum billet casting operation, processing recycled aluminum materials into billets for extrusion and other downstream manufacturing applications. The project will establish ClearFlow's manufacturing presence in the U.S. and support domestic demand for aluminum products while expanding...
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...
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Vedanta hikes its aluminium products price for the second time in a row. With effect from Thursday 9 July 2020, the prices of some aluminium ingots are in the range of INR 139,000-152,000 per tonne, an increase of 1.65% or INR 2,250 per tonne from INR 136,750-149,750 per tonne on July 8. With the latest hike, Vedanta’ billet now stands at INR 147,000 per tonne on July 9, a rise of INR 2,250 per tonne or 1.55% from INR 144,750 per tonne on July 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 have been declining due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of Production (CoP) in the fourth quarter of FY20 by...
McConnell Dowell has signed a design and construction contract with Queensland Alumina (QAL). The construction company’s relationship with major shareholder Rio Tinto has remained vital. The construction company will be accountable for the delivery of a waste line replacement at QAL’s Parsons Point alumina refinery in Gladstone. Rio Tinto holds 80% stake in QAL, Australia’s first alumina refinery and producer of around 3.7 million tonnes of alumina per year. The project comprises the design of the new waste line; removal of the existing pipeline; enhancement of the support structures that include around 1400 piles within tidal and marine zones; and installation of the new waste line, 8.8 kilometres of DN 350 SCH 60 above ground steel pipeline. McConnell Dowell has initiated its work on...
The US dollar rallied from a four-week low against a basket of rivals on Thursday. LME aluminium fell nearly 1% and SHFE aluminium advanced 0.3%. Three-month LME aluminium fell on Thursday after notching its highest since March 13 at US$1,695.5 per tonne. It ended 0.96% lower at an intraday low of US$1,649 per tonne. It is likely to move between US$1,640-1,680 per tonne today. As of Thursday July 9, LME aluminium cash (bid) price stands at US$ 1659.50 per tonne, LME official settlement price stands at US$ 1659.50 per tonne; 3-months bid price stands at US$ 1687 per tonne, 3-months offer price is US$ 1687 per tonne; Dec 21 bid price stands at US$ 1772 per tonne, and Dec 21 offer price stands at US$ 1772 per tonne. The LME aluminium opening stock stood at 1632675 tonnes. Live Warrants...
The China Passenger Car Association data released on Thursday, July 9, that country’s new energy passenger car sales surged 25 per cent month-on-month to come in at 83,000 units in June, in the wake of domestic passenger vehicle market’s improvement over the past four months. However, on a year-on-year basis, new energy passenger car sales shrank 38.8 per cent in June. Accumulative sales in the first six months of the year totalled 313,000 units, down 44 per cent from the same period last year. Separately, CPCA data shows that China’s retail sales of passenger cars, including sedans, multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs), amounted to 1.66 million units in June, up approximately 3.3 per cent from 1.64 million units in May. Year-on-year, the sales in June stood...
Hindalco Industries Ltd has raised its aluminium products price for the second time in a row. With effect from Thursday July 9, Hindalco aluminium ingots price now stands at INR 140,250 per tonne, an increase of 1.45% or INR 2,000 per tonne from INR 138,250 per tonne on July 8. The company is now selling its wire rods and billets at INR 151,350 per tonne and INR 147,350 per tonne with effect from Thursday, 9 July 2020, marking a growth of INR 2,000 per tonne each from July 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 so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected to remain under pressure due...
Manufacturer Hunter Douglas stops making aluminium itself in Rotterdam and among other things, sun protection in Rotterdam. Production is no longer beneficial. The shutdown of the production line will cause a layoff of 100 employees. Leen Reijtenbagh, CFO of Hunter Douglas said: “It doesn't pay. We will buy that aluminium later." Closing the production line at Piekstraat in Rotterdam South will cost a hundred employees their jobs. The works council is now considering advice. Union FNV is preparing talks about a social plan. "It is a huge blow to the staff, especially in these uncertain times," says Jan Meeder of FNV Metaal. The union still hopes that Hunter Douglas will come up with a new production line. Reijtenbagh advocates: “We are engaged in the production of aluminium ceiling...
Following a rise of 6,900 tonnes last week, aluminium billet inventories in China have declined today, on July 9, due to a surge in shipments from warehouses in east China. SMM data shows the stocks of 6063 aluminium billets across the five major Chinese consumption areas have edge down 900 tonnes over the week to stand at 72,300 tonnes. The chart below indicates the current status of aluminium billet inventories across China in more details: As the above chart shows, the decline in aluminium billet inventories has not touched upon all the major Chinese markets today. Only in Wuxi, Changzhou, and Nanchang, the aluminium billet inventories have plunged by 1,800 tonnes, 1,340 tonnes, and 2,280 tonnes from the week ago, on July 2, to stand at 16,100 tonnes, 10,560 tonnes, and 8,920 tonnes,...
Canadian Prime Minister Justin Trudeau stated that he was anxious about reports that US was considering to re-impose tariffs on Canadian aluminium. On 8 th July’20, Prime Minister Justin Trudeau said: “US companies would suffer if the Trump administration hits Canadian metal imports with tariffs that lack any justification, on Wednesday.” While speaking to the reporters, Trudeau said he looked forward to congratulating US President Donald Trump on US-Mexico-Canada Agreement (USMCA) which came into force on 1 st July’20, replacing the 26-year-old North American Free Trade Agreement (NAFTA). As we had reported Trudeau did not travel to Washington on 8 th July to attend a meeting with Trump and Mexican President Andres Manuel Lopez Obrador marking the launch of the new trade deal. Prime...
According to Shanghai Metals Market survey, China’s primary aluminium production in June totalled 3 million tonnes, up 2.42 per cent year-on-year. As of June-end, there were 36.76 million tonnes of primary aluminium capacity in operation out of the existing 41.23 million tonnes per year total capacity. Data indicates that China’s primary aluminium capacity in operation was up by 180,000 tonnes month-on-month in June. Operating rates across Chinese primary aluminium producers also stood higher by 0.3 percentage point to stand at 89 per cent on improved margins that encouraged newly-commissioned and resumed capacities to ramp-up. During the first six months of 2020 (January-June), China’s primary aluminium output amounted to 18.01 million tonnes, up 2.93 per cent year-on-year. Consumption...
Altech Chemicals Limited has announced the completion of the remaining Stage-2 construction work at its high purity alumina (HPA) plant site in Johor Bahru, Malaysia. Construction activities at the site started anew in early June 2020, following the ease of restrictions imposed by the Malaysian Government on March 18 to contain the spread of novel coronavirus. The Stage-2 construction work involved completion of the site’s electrical substation consisted of internal fit-out, drainage, sewage, and landscaping. These works are now finished, marking the completion of all works included in the Stage 2 construction scope by the appointed EPC contractor Metix (a wholly-owned subsidiary of SMS group, Germany). Altech received a formal handover inspection of the substation towards the end of...
Edward Boateng, Ghana’s Ambassador to China, has assured that due process is being followed by the Ghana Integrated Aluminium Development Corporation, GIADEC, to ensure that Ghana benefits sufficiently from the expected bauxite mining. Government’s plan to mine bauxite in the Atewa Forest Reserve, a $2 billion Sinohydro deal with China, has received a lot of backwash with environmental groups propelling against the deal due to the expected impact of bauxite mining, especially in the Atewa Forest. Seven Civil Society Organisations and some private citizens have gone ahead to sue the government over the plans to mine in the Atewa Forest. On the occasion to mark 60 years of bilateral relations between Ghana and China, Mr Edward Boateng confuted opinion that Chinese companies where being...
Bharat Aluminium Company (BALCO), a global leader in aluminium, has been endorsing sustainable development since its inception. This has been counted as one more unyielding step in this direction; BALCO has recently launched PAHAL, a plastic bag elimination program in its township amongst its employees and business partners. The company stated: “BALCO is one of the first organizations in Chhattisgarh to introduce plastic elimination program, which was taken up in association with Chamber of Commerce, Balconagar.” Environment-friendly bags were distributed among the residents as part of the drive and township residents are encouraged to use those in place of single-use plastic bags. Speaking about the initiative, Abhijit Pati, CEO & Director – BALCO, said, “‘Pahal’ is a step towards...
Alcoa Corporation, on Wednesday, July 8, released preliminary second-quarter results of 2020, which indicated that even amidst the COVID-19 pandemic, the company’s cash balance showed positive sentiment along with increased productivity and steadily growing operations. The cash balance is estimated to cross $950 million. But the revenue is expected to drop by 8 to 9 per cent from $2381 in Q1 2020 to $2100 - $2,175 in Q2, according to the information revealed. Year-on-year, the second quarter's revenue is estimated to decline by nearly 20 per cent, attributing to lower demand for aluminium value-added products. It is to be noted here that all the information is preliminary and based upon data available as of July 8. It is subject to change and finalisation based on the quarter-end closing...
The average alumina spot price in China has continued to grow for the sixth straight day, albeit slower, by RMB 11 per tonne to come in at RMB 2,419 per tonne on July 9, found Shanghai Metals Market. In the central and north, the price has grown by RMB 10 per tonne to RMB 2,425 per tonne, while that in the east and south has remained restrained at RMB 2,400 per tonne and RMB 2,520 per tonne, respectively. Among other input costs, the price of aluminium fluoride has recorded a decline of RMB 200 per tonne to RMB 7,350 per tonne, following a restraint for over a month. The A00 aluminium ingot price has jumped by RMB 150 per tonne on July 9, after two consecutive declines from RMB 14,440 per tonne to RMB 14,320 per tonne. The aluminium ingot price is now standing at RMB 14,470 per tonne,...
Cameroon, on the Gulf of Guinea, is a Central African country of varied terrain and wildlife. Its inland capital, Yaoundé, and its biggest city is Douala. Cameroon has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Cameroon is a member of the Economic Community of Central African States. The Central African nation’s aluminium structures import during 2017-19 remained unstable, as the import volume stood at 1347 tonnes and the foreign revenue expenditure was recorded at $20.73 million. The analysed import volume for 2020 is expected to reach at 861 tonnes and the expenditure would surge up to $16.14 million. When the projected import volume and expenditure of 2020 gets added to the previous three...
The US dollar edged lower on Wednesday, July 8, as investors weighed hopes for a quick economic recovery against concerns about resurgence in the coronavirus pandemic, particularly in the US. Three-month LME aluminium scaled the highest level in four months, topping US$ 1,670 per tonne, before it pared some gains and closed the day higher at US$ 1,665 per tonne. As of Wednesday, July 8, LME aluminium cash (bid) price and LME official settlement price jumped from US$ 1596.5 per tonne to US$ 1619 per tonne. 3-months bid price and 3-months offer price stood at US$ 1651 per tonne, significantly up by US$ 21 per tonne from US$ 1630 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1743 per tonne compared to US$ 1726 per tonne. The LME aluminium opening stock...
Following the cut on Saturday, July 4, Hindalco Industries Limited has increased its aluminium ingot price with effect from Wednesday, July 8. With the latest hike, the company’s ingot price has come in at INR 138,250 per tonne compared to INR 136,750 per tonne on July 4, meaning an increase of INR 1,500 per tonne or 1.1 per cent. Hindalco is selling its aluminium wire rods and billets at INR 149,350 per tonne and INR 145,350 per tonne, respectively, up by INR, 1,500 per tonne or 1.per cent from INR 147,850 per tonne and INR 143,850 per tonne, as of July 4. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium are down by over 9 per cent so far in 2020 due to the...
Rio Tinto will start planning for the wind-down of operations and the eventual closure of New Zealand Aluminium Smelters (NZAS) following the conclusion of its strategic review which has shown the business is no longer viable given high energy costs and a challenging outlook for the Aluminum industry. Consequently, NZAS has delivered Meridian Energy notice to terminate the power contract, which will end in August 2021, when the wind-down of operations is expected to complete. The strategic review concluded that the smelter, which has made Rio Tinto an underlying loss of NZ$46million in 2019, is not economically viable due to energy costs that are some of the highest in the industry globally, coupled with a challenging short to medium term aluminium outlook. Extensive discussions with a...
