Premium luggage brand Carl Friedrik has expanded its aluminium collection with the launch of the aluminium Check-in, a 76-litre suitcase designed for longer trips and international travel. Priced at USD 1,095, the new suitcase features a hard-wearing anodized aluminium shell, TSA-approved combination locks, and 360-degree ball-bearing wheels designed for smooth movement. The Check-in model follows the launch of the smaller aluminium Carry-On in March. According to the source, the Carry-On sold out within eight weeks, prompting Carl Friedrik to expand the aluminium range with a larger case. The new suitcase retains several features from its smaller counterpart while adding capacity for travelers who need more space. It is currently available in silver with black, cognac, or chocolate trim....
Hindalco Industries Limited, Muri Works has achieved ASI Performance Standard V3.1 (2023) for alumina refining activities at the Hindalco Industries Ltd Muri Works facility, located in Muri, Jaharkland District India. Aluminium Stewardship Initiative (ASI) today announced that Hindalco Industries Limited, Muri Works (India’s first Alumina Refinery, established in 1948) has been certified against the ASI Performance Standard V3.1 (2023). The major manufacturing processes undertaken at the Entity includes crushing, grinding, digestion, clarification, precipitation and calcination. The current alumina refining rated capacity is 450 kilotonnes per annum. The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the only comprehensive...
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According to the Shanghai Metals Market survey, China’s metallurgical-grade alumina production in April 2024 amounted to 6.679 million tonnes, reflecting a month-on-month decline of 1.52 per cent from 6.782 million tonnes but a year-on-year increase of 2.2 per cent. However, it is to be noted that despite the M-o-M fall in April’s monthly output, the daily production stood 3,900 tonnes per day higher than the previous month, reaching 222,600 tonnes per day. Aluminium capacity and resumption As of the end of April 2024, China’s existing alumina capacity was 100 million tonnes, with an operating capacity of 81.27 million tonnes, while the average operating rate was 81.3 per cent. In Shanxi, the operating rate grew by 2.7 per cent M-o-M to stand at 72.9 per cent and the operating capacity...
On May 8, the American multinational automotive manufacturing company General Motors announced its decision to discontinue production of the gasoline-powered Chevrolet Malibu later this year to focus on manufacturing new electric vehicles. Since 1964, GM has sold over 10 million Malibus globally, but production will cease in November'24. To facilitate this shift, the Detroit automaker is investing $390 million into its Kansas assembly plant to produce the next-generation Chevrolet Bolt EVs, following the production halt for the previous generation Bolt in December. The "Global Aluminium Industry Outlook 2024" report by AL Circle projects that the transportation sector will emerge as a significant demand catalyst for aluminium, with electric vehicles assuming a pivotal role within it. To...
Bharat Aluminium Company Limited (BALCO), a prominent figure in India’s aluminium industry, has forged a strategic partnership with Shree Cement Limited. This alliance aims to revolutionise cement production by harnessing the power of fly ash, a by-product with immense potential for environmental benefit. BALCO’s recent Memorandum of Understanding (MoU) with Shree Cement Limited marks a significant milestone in sustainable industrial practices. Under this agreement, BALCO will supply 90,000 metric tonnes of fly ash to Shree Cement, enabling the production of low-carbon cement . Fly ash, a residue of thermal power generation holds promise as a valuable resource in the quest for eco-friendly cement production. By diverting fly ash from landfills and utilising it in cement manufacturing,...
Norwegian aluminium and energy giant Norsk Hydro recently announced Eivind Kallevik's appointment as its new President and CEO. Eivind officially commenced his role on May 13, unveiling his plan to expedite Hydro's strategy of spearheading the shift to sustainable aluminium production by leveraging renewable energy, aiming for significant progress by 2030. Hydro has always been at the forefront of sustainability and promoting the importance of moving towards an eco-friendly environment. The Norwegian aluminium giant is also considered one of the leading providers of low-carbon and recycled aluminium solutions, pioneering its way towards an emission-free environment. To know more about how the aluminium industry is moving towards a sustainable and greener environment, grab AL Circle's...
The month of April' 24 witnessed a 21.7 per cent increase in vehicle production in Mexico compared to last year's period, reaching a record high of 358,575 units. According to data from the National System of Statistical and Geographical Information (INEGI), eight assembly companies ramped up their production, while five saw a decline. INEGI is an autonomous public institution responsible for regulating and coordinating the National System of Statistical and Geographical Information. Its mandate encompasses collecting and distributing data pertaining to Mexico's territory, resources, population, and economy. By providing comprehensive insights into the nation's characteristics, INEGI facilitates informed decision-making processes. Mexico has become a significant force in the automotive...
Hong Leong Investment Bank Bhd (HLIB) has reportedly shared higher earnings forecasts for Press Metal Aluminium Bhd for FY2024 and FY2025. The investment bank has projected that Press Metal's earnings will increase by 7 per cent and 4 per cent, respectively, in the said years on account of anticipated increased aluminium spot price. The investment firm has also upgraded the stock to a "Buy" rating with a higher target price of RM6 from RM4.65 previously. It forecasts RM1.8 billion of Press Metal's earnings for FY2026. Hong Leong Investment Bank believes that despite the muted demand for aluminium from the building & construction sector, aluminium prices will remain steady, supported by resilient demand growth from the new electric vehicles and renewable energy sectors. Coupled with this,...
LME aluminium opened at US$2,570 per tonne last Friday, with its low and high at US$2,517 per tonne and US$2,589.50 per tonne, respectively, before closing at US$2,520 per tonne, down 1.6 per cent. On Friday, May 10, both LME aluminium cash bid price and LME aluminium official settlement price escalated by US$22 per tonne or 0.88 per cent and US$21 per tonne or 0.84 per cent to settle at US$2,514 per tonne and US$2,515 per tonne. 3-month bid price and 3-month offer price surged by US$11.50 per tonne or 0.45 per cent and US$13 per tonne or 0.51 per cent to anchor at US$2,552 per tonne and US$2,554 per tonne. December 25 bid price and December 25 offer price inched up by US$5 per tonne or 0.18 per cent to arrive at US$2,675 per tonne and US$2,680 per tonne. LME aluminium opening stock came...
On Monday, May 13, the average alumina spot price opened the week with a growth of RMB 13 per tonne to settle at RMB 3,691 per tonne. As per the SMM data, the alumina prices reflected a Y-o-Y surge of RMB 813 per tonne from RMB 2,888 per tonne recorded on May 12, 2023. Alumina prices region-wise The prices as of today have shown increment in all the provinces, with the highest in Bayuquan followed by Lianyungang, where it has spiked up by RMB 50 per tonne and RMB 45 per tonne to clock at RMB 3,770 per tonne and RMB 3,760 per tonne. In other regions like Shanxi, Guizhou and Guangxi, the prices have added RMB 20 per tonne to peg at RMB 3,730 per tonne, RMB 3,690 per tonne and RMB 3,715 per tonne. In Shandong and Henan, the prices have moved up by RMB 5 per tonne to arrive at RMB 3,655 per...
Aluminium Bahrain B.S.C. (Alba) has reportedly introduced a new low-carbon aluminium product line called EternAl with two variants: EternAl-30 and EternAl-15. They respectively have 30 per cent and 15 per cent recycled content. Alba's EternAl product line rightly reflects the company's novel stride towards creating a greener future through the use of secondary aluminium and advocating a circular economy. It also addresses the growing demand for low-carbon aluminium across the globe. Both the variants of EternAl are verified by DNV, a globally recognised leader in verification assurance, which further underpins Alba's unwavering commitment towards responsible production of low-carbon aluminium. DNV verification assures customers that Alba's EternAl product line significantly reduces carbon...
In April'24, China rebounded in both exports and imports following a contraction in the previous month. This turnaround signals a positive uptick in domestic and international demand, which comes at a crucial time as Beijing grapples with various economic challenges. The data indicates that the array of policy interventions implemented over recent months may yield results by bolstering investor and consumer confidence. However, analysts remain cautious, questioning the sustainability of this trade resurgence. According to customs data released on May 9, shipments from China saw a modest 1.5 per cent year-on-year value growth last month, consistent with the projections from a Reuters survey of economists. This follows a 7.5 per cent decline in March, the first contraction since November....
According to Reuters' analysis of the German Federal Statistical Office data, the United States emerged as Germany's primary trading ally in the first quarter of 2024, surpassing China. From January to March'24, the total trade volume between Germany and the United States, encompassing both exports and imports, surged to a remarkable €63 billion ($68 billion). This substantial increase, surpassing Germany's trade with China, highlights the burgeoning economic ties between the two nations and the profound shift in Germany's trade focus. China remained Germany's foremost trading partner for the eighth consecutive year in 2023. Trade volumes between the two nations surged to €253 billion, edging slightly ahead of the United States by a margin of just a few hundred million euros. Commerzbank...
The 2024 outlook for the aluminium end-use sector is multifaceted, with some segments displaying potential while others could encounter initial obstacles. Forecasts suggest a moderate rise in global aluminium consumption, ranging between 1.6-2 per cent, primarily fuelled by continuous demand from transportation and construction sectors. However, there's a possibility that aluminium production might outpace demand, resulting in a minor surplus that could help stabilize prices. To know more about how the end-user sector will perform in the days ahead, grab AL Circle's report, "Global ALuminium Industry Outlook 2024." This week, the end user sector witnessed some significant events. Eco-friendly packaging or the use of aluminium has eventually increased. Companies like Turncoat Gin and CCU...
Investments in the recycling industry can facilitate the recovery and reuse of valuable resources from waste materials . This reduces the strain on natural resources and promotes sustainable practices crucial for long-term environmental and economic sustainability. Increased investment can lead to better waste management systems, including collection, sorting, and processing facilities. This can help address issues such as landfill overflow and improper waste disposal, improving public health and sanitation. Speakers at the International Investment Forum in Tashkent emphasised the burgeoning investment opportunities within Uzbekistan's recycling sector. With approximately US$60 billion (EUR 55.7 billion) in foreign investment flowing into the country over the last six years and a robust 6...
On May 8, 2024, the world witnessed the inauguration of a colossal initiative to combat climate change head-on: the largest-ever direct air capture plant. Developed by Swiss firm Climeworks, this mammoth facility in Iceland dwarfs its predecessor, Orca, by a factor of ten. Direct air capture (DAC) technology is the backbone of this endeavour, functioning like a massive vacuum to extract carbon from the atmosphere using specialised chemicals. Once captured, this carbon can be stored underground, repurposed, or even converted into solid materials, offering a promising avenue in the fight against global warming. Climeworks is set to utilise Iceland's plentiful, clean geothermal energy to power its ambitious carbon sequestration project in collaboration with Icelandic company Carbfix . This...
Vedanta Aluminium, India’s largest aluminium producer, has reportedly placed 100 solar-powered streetlights in and around the remote villages of Jamkhani, Girisma, Munderkhet, Jharpalam, and Hemgir in Sundargarh district, Odisha. This initiative represents the company’s dual commitment. One is towards community empowerment and another is towards environment-friendly development in the society. Before installing the lights, Vedanta corresponded with villagers and local committee members to identify critical points that needed lighting, such as schools, drinking water points, wells, crossings, key transportation routes, and community centres. Vedanta Aluminium is always at an attempt to contribute towards a greener and more sustainable future in whatever way possible. Mr. V. Srikanth, CEO...
Moravia Cans, a prominent aluminium aerosol can manufacturer based in Czechia, demonstrated remarkable resilience and growth in 2023 despite the lingering economic challenges stemming from the Covid pandemic and the geopolitical tensions surrounding the Russian invasion of Ukraine. In their latest annual report, Moravia Cans announced a substantial boost in net profit, soaring by nearly 40 per cent to CZK245 million (equivalent to US$10.5 million). This impressive financial achievement coincided with a 2.8 per cent year-on-year increase in sales, reaching CZK2.52 billion (approximately $108 million). Moravia's commitment towards sustainability Renowned for its excellence in can manufacturing, Moravia Cans continued to invest in enhancing its aluminium aerosol production lines. These...
The state-of-the-art battery foil finishing mill at European Metals' Volpiano (TO) facility in northern Italy is now in full operation. This achievement, realised two years after the contract was inked in 2022, signifies a significant milestone for the company. By making this strategic and forward-thinking investment, European Metals now stands as Italy’s premier battery foil producer and emerges as a key player in the rapidly expanding European market for battery-related products. In 2020, European Metals made its mark in the European aluminium industry with ambitions to emerge as a significant player in Europe's thin foil market. To strengthen its position in household foil, packaging foil, and the burgeoning battery foil sector, this strategic move was underpinned by the acquisition of...
W.P. Carey has expanded its portfolio by acquiring an €80 million package, comprising four industrial facilities in Italy and an R&D facility in Canada, through a sale and leaseback transaction. The 103,000 square meter portfolio is now under triple-net leases to Metra SpA and Metra Aluminium, facilitated by Newmark. In Italy, the properties are subject to a long-term master lease with annual rent escalations. At the same time, the Canadian asset will be incorporated into WP Carey's existing lease with Metra starting in 2022, featuring fixed yearly rent increases, as stated by the NYSE-listed company. W. P. Carey has a long history of providing customised capital solutions to publicly traded and privately held companies, developers, private equity firms, and their portfolio companies. Its...
