During the International Colloquium on Refractories (ICR) in Aachen, Germany, Almatis and ROMCO signed a term sheet outlining the key principles for a long-term strategic partnership for Brown Fused Alumina (BFA). The proposed partnership brings together ROMCO’s established fused alumina manufacturing capabilities in India with Almatis ’global sales , technical service and distribution network. Subject to the conclusion of definitive agreements, the parties intend to establish a long-term manufacturing, sales and marketing collaboration for ROMCO’s Brown Fused Alumina portfolio. Almatis CEO Anil Sonmez stated , “This is another significant step forward in line with our vision, ‘Alumina and Beyond for Tomorrow.” Sonmez continued, “Following the expansion of our Calcium Aluminate Cement...
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....
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The European Commission has greenlit Macquarie Asset Management's acquisition of a 49.9% share in Hydro Rein, the renewable energy arm of Norsk Hydro ASA. This strategic move signals a significant development in the renewable energy landscape and underlines the growing importance of sustainable practices in the aluminium industry. Transaction Approval: The European Commission approved Macquarie's acquisition under the simplified merger review procedure, citing no adverse effects on competition due to non-overlapping markets. Financial Terms: Macquarie Asset Management will purchase the stake for USD 332 million (EUR 309.2m) in equity, allowing Norsk Hydro to retain a controlling interest of 50.1%. Joint Venture Formation: Post-acquisition, Hydro Rein will function as a joint venture,...
On Thursday, May 9, aluminium stocks in London Metal Exchange-registered warehouses surged by 88 per cent to 903,850 tonnes, reaching the highest level since January 2022. Some sources said last month that inventories are subject to so-called rent share deals. Traders are taking Russia-made aluminium from warehouses and returning it later to profit from rule changes. Aluminium stocks rose on Thursday as 425,575 tonnes of metal arrived in Port Klang in Malaysia, according to the LME data, which also showed reverse net fresh cancellation of 137,050 tonnes in the same location. This scale of growth in LME-approved warehouses in just one day is unusual. Some traders are even calling it insane. However, the LME declined a comment request from Reuters. Amid the inventory surge, the LME...
Volvo is poised to inaugurate an unconventional era of production innovation slated to commence in 2026 at its illustrious Torslanda plant in Sweden. This ambitious endeavour is set to unfold alongside the implementation of the SPA3 platform, heralding the third iteration of Volvo's cutting-edge vehicle technology tailored explicitly for electric mobility solutions. At the heart of this transformative venture lies the ingenious mega-casting technique, a method pioneered by visionaries at Tesla and under consideration by industry stalwart Toyota. This avant-garde approach entails the creation of expansive singular vehicle components through the precision of die-cast moulding, where molten metal is artfully poured into the desired shapes. For instance, envisage the entire rear floor section...
On May 9, 2024, the Indian Coast Guard (ICG) and Hindalco Industries Limited inked a Memorandum of Understanding (MoU) in New Delhi. As per the agreement signed, Hindalco will produce and supply marine-grade aluminium to the Indian Coast Guard for ship manufacturing. The signing of the MoU is a testament to the collaborative spirit between the Indian Coast Guard and Hindalco Industries Limited. Deputy Director General (Materiel & Maintenance), ICG IG HK Sharma, and Shri Nilesh Koul, CEO of Hindalco’s downstream aluminium business, affixed their signatures to the document in the presence of senior ICG officials, marking the beginning of a promising partnership. As per the MoU, Hindalco has committed to providing ICG with additional services such as quarterly pricing, supply priority, and a...
BALCO, a renowned aluminium producer in India and a unit of Vedanta Aluminium, is committed to sustainability not only in its production processes but also in its approach to human resources. As part of its efforts to foster inclusivity, BALCO has welcomed seventeen transgender individuals into its workforce, providing them with a deep sense of belonging and identity within the company. This initiative demonstrates BALCO's dedication to diversity and creating a supportive workplace environment for all employees. From inducting seven transgender employees in 2022 to seventeen in 2024, BALCO has marked an exemplary milestone in an otherwise male-dominated industry. These employees take part in various roles, from forklift operations and store management to security positions, contributing...
In the verdant landscapes of China’s southwest, a grand quest to transform the aluminium industry into a flagbearer of sustainability encounters turbulent waters. Reuters reports on the challenges faced by major players like China Hongqiao Group amidst erratic rainfall, shifting capacities, and the quest for greener pastures. China Hongqiao Group and others embarked on a journey to Yunnan province, enticed by promises of abundant hydropower. However, as rains faltered, so did the reliability of electricity, casting shadows over the envisioned capacity shifts. Despite aspirations for low-carbon production, the hydro crunch in Yunnan compelled smelters to reduce output, hampering China’s broader energy transition efforts. Plans for new facilities face delays, with operational challenges...
Graza, a leading olive oil brand, has made a significant stride in sustainability with its innovative nitrogen-sealed 'aluminium beer can' refills. This unique packaging method, a first in the industry, ensures the quality of the oil remains uncompromised, setting it apart from traditional packaging options. The minds behind Graza, Andrew Benin and Allen Dushi, identified a crucial gap in the industry: the absence of a high-quality olive oil refill option. They observed that traditional large-bulk containers often lead to rapid oxidation, compromising the quality of the olive oil. The concept of the nitrogen-sealed ' aluminium beer can ' refills was born out of a mission by Benin and Dushi to develop a refillable solution that would preserve the integrity of their extra virgin olive oil...
Vista Metals has recently completed the construction of its seventh aluminium casthouse at Adairsville, Georgia. This achievement marks a pivotal point in the company's extensive $100 million long-term capital strategy and constitutes the second phase of the initiative. The newly established casthouse in Georgia encompasses integrating melting furnaces, homogenising ovens, and accompanying support apparatus. VMC Specialty Alloys LLC, also known as Vista Metals Georgia, functions under a licensing arrangement with Vista Metals Corp, headquartered in Fontana, CA. With Vista Progressive Metals LLC, a key player in aluminium lithium products, this consortium stands at the forefront of manufacturing speciality aluminium products. Its products cater to diverse sectors, including aerospace,...
Mandy Glew has been appointed as the President for EMEA (Europe, the Middle East and Africa) at Ball Corporation. She will be taking over Carey Causey who transitioned to the role of SVP and chief growth officer in January. Causey temporarily served as interim president of the Europe, Middle East, and Asia (EMEA) region until Glew's appointment. Glew's journey with Ball Packaging began in 2020 after an extensive 23-year tenure at Procter & Gamble, where she held various sales and marketing management positions. Armed with a PhD in chemistry and additional studies in managerial finance from the London School of Economics, Glew brings a wealth of expertise to her new role. During her previous tenure as commercial VP for the EMEA region, Glew outlined the company's ambitious objectives to...
Chinese can manufacturer Bosun New Material & Technology Co (BNM) has unveiled what they claim to be the first rectangular peel-off end of its size, along with a peel-off end featuring a built-in straw insertion capability. The F316 rectangular peel-off end has been designed with either a retortable aluminium foil or transparent membrane, catering to diverse packaging needs such as seafood, meat, or ready meals. The PO! Peel-off end features a straw insertion mechanism and is engineered for hassle-free usage. It is compatible with a range of materials, including steel and aluminium, and boasts high-temperature resistance. These pioneering developments were showcased at the recent Latamcan conference in Buenos Aires, Argentina. The peel-off feature incorporates a conveniently perforated...
Mexico has reportedly lifted tariffs on aluminium imports from certain countries that do not have sufficient supplies. As per the report, Mexico has revoked a 35 per cent tariff on primary unalloyed aluminium and a 20 per cent tariff on primary alloy that were placed in late April to check imports from China and elsewhere. Explaining the decision, the Mexican government said that the supply of raw unalloyed or alloyed aluminium in countries with which Mexico signed an international treaty of trade matters was inadequate for the automotive and electronics industries. Originally, tariffs were imposed to provide certain and fair market conditions to the domestic industry that faced situations of vulnerability caused by international trade. The tariffs were designed in large packages...
According to the Shanghai Metals Market, the SMM A00 aluminium ingot price has scored RMB 20 per tonne to close at RMB 20,540 per tonne today, with the average prices hovering between RMB 20,520 per tonne and RMB 20,560 per tonne. The eight main provinces in China have more or less seen escalation in aluminium prices, with Hangzhou and Linyi recording a spike of RMB 20 per tonne to close at RMB 20,540 per tonne and RMB 20,590 per tonne, respectively. Other than that, most of the other areas like Gongyi, Foshan, Wuxi and Shenyang have witnessed a rise of RMB 10 per tonne. Gongyi – RMB 20,450 per tonne Foshan – RMB 20,500 per tonne Wuxi – RMB 20,540 per tonne Shenyang – RMB 20,490 per tonne Only in Chongqing and Tianjin, the aluminium prices have dropped by RMB 10 per tonne and RMB 20 per...
LME aluminium opened at US$2,570 per tonne in the previous trading day, with its low and high at US$2570 per tonne and US$2,577 per tonne respectively before closing at US$2,573 per tonne, up 0.19 per cent. On Thursday, May 9, both LME aluminium cash bid price and LME aluminium official settlement price increased by US$5 per tonne or 0.20 per cent and US$6 per tonne or 0.24 per cent to settle at US$2,492 per tonne and US$2,494 per tonne. 3-month bid price and 3-month offer price grew by US$11.5 per tonne or 0.45 per cent and US$11 per tonne or 0.43 per cent to clock at US$2,540.50 per tonne and US$2,541 per tonne. December 25 bid price and December 25 offer price moved up by US$2 per tonne or 0.07 per cent to arrive at US$2,670 per tonne and US$2,675 per tonne. LME aluminium opening stock...
The Aluminium Federation (ALFED) will once again host the annual Sustainability Strategy Day at BMA House, London, on Thursday, June 6 th , 2024. After a successful event at BMA House last year, ALFED is back with this year's theme of 'Next Steps for the UK Aluminium Industry'. With ALFED calling on the next Government to double down on policies promoting Net Zero emissions, this event will highlight the need to incentivise investment in aluminium manufacturing and product design, the benefits of harnessing green energy, and leveraging the UK's expertise in metals processing. The EnvironmentAl event invites ALFED members and the wider aluminium industry to present current sustainability strategies and showcase technologies. It also offers the opportunity to participate in engaging...
According to a Bloomberg report on Wednesday, May 8, Hindalco Industries Limited is seeking about $1.2 billion in the initial public offering of its US-based unit Novelis. The aim is to list Novelis on the New York Stock Exchange by September 2024. Hindalco, one of India’s largest aluminium producers, targets to draw a value of $18 billion for Novelis. But Hindalco has refused to comment and so has Novelis on Reuters’ request. In late February, Novelis confidentially filed paperwork for a US IPO, with sole stakeholder Hindalco selling shares. Bank of America and Citigroup are the two banks working on listing Novelis on New York Stock Exchange. Earlier this week, Novelis announced its fourth quarter FY2024 fiscal results, disclosing a 6 per cent Y-o-Y growth in net income to $166 million...
Wisconsin Aluminum Foundry (WAF) has begun new chapter of expansion with the acquisition of ATEK Metal Technologies, an esteemed Iowa-based aluminium castings manufacturer. This acquisition not only signifies growth but also embodies a nostalgic return to roots, intertwining the legacies of both companies. Under the astute leadership of CEO Sachin Shivaram , WAF has diligently crafted its path towards expansion, leveraging acquisitions as pivotal milestones in its journey. "ATEK is a key supplier to leading motorcycle manufacturer Harley-Davidson. More than 100 years ago, Harley was among WAF's foundational customers in the early 1900s, and with this acquisition, we're pleased to have this story come full circle, and with the strong relationship ATEK leadership has forged with all its...
On May 8, 2024, Reuters reported that top executives from BMW and Volkswagen cautioned against implementing EU import tariffs on Chinese manufacturers' electric vehicles. They argued that such measures could disrupt the European Union's Green Deal agenda and negatively impact automakers reliant on importing cars from China. The European Commission, responsible for trade policy across the EU's 27 member states, initiated an inquiry in October to assess whether fully electric vehicles produced in China were benefiting from unfair subsidies, potentially justifying additional tariffs. After the company reported its quarterly results, BMW's CEO, Oliver Zipse, warned, "You could very quickly shoot yourself in the foot." BMW is bringing Mini EVs and the iX3 from China to Europe, joining the...
Spot prices for India's aluminium alloy ADC12 ingot declined by INR 3,000 per tonne, now standing at INR 216,000 per tonne week-on-week exw Delhi NCR. As per BigMint's latest assessment, tense scrap prices also saw a decrease, reaching INR 185,000 per tonne ex-Delhi, marking a weekly decline of INR 2,500 per tonne. This has widened the scrap-to-ADC12 spread to INR 31,000 per tonne. Market sources have indicated that tense offers in Chennai are currently around INR 188,000 per tonne, while spot prices for ADC12 in Chennai range between INR 219,000 to INR 222,000 per tonne ex-works on immediate terms, excluding GST. Trends in ADC12 market Amidst the downturn in tense prices across the northern region, the pricing of semi-finished products has taken a hit, with a noticeable slowdown in...
