India’s renewable energy transition is gathering pace, with installed renewable power capacity surpassing 300 gigawatts (GW) in 2026, almost quadrupling over the past decade. The country has also achieved its target of sourcing 50 per cent of installed electricity capacity from non-fossil fuel sources five years ahead of schedule, strengthening its position as one of the world’s fastest-growing clean energy markets. The expansion is beginning to deliver measurable energy security benefits by reducing dependence on imported fossil fuels, while competitive renewable power costs and expanding domestic manufacturing are opening new investment opportunities. However, sustaining this momentum will require substantial improvements in electricity transmission, storage infrastructure and...
Glencore has defended its progress on the Aurukun bauxite project in Queensland, saying it has met all commitments under its licence conditions, as calls for greater scrutiny mount over its proposed sale to Rio Tinto. Queensland MP Robbie Katter, a member of the Parliamentary Primary Industries and Resources Committee, is seeking an inquiry into the deal. The reported sale value has been put at USD 250 million, though this figure has not been confirmed. Katter questioned why a multinational company should hold a public resource without developing it and then sell its interests. He said, “That resource is owned by the people of Queensland, it’s not the government’s to play around with, or for any of these global mining companies to just trade.” Explore the production, demand and...
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A Malaysian financial company providing investment management services, Kenanga Investment Bank Bhd, reasserted its “neutral” stand on the carbon emissions tax levied upon the seaports and logistical sectors. The bank claims that the EU’s Carbon Border Adjustment Mechanism (CBAM) can negatively affect the growth of these industrial sectors. The World Trade Organisation forecasts the global merchandise trade volume will increase by 1 per cent this year, a stark fall from the 3.5 per cent augmentation recorded in 2022. Kenanga Investment Bank Bhd states: “This does not augur well for seaport operators like Westports Holdings Bhd,” directing a “markets perform” call at a targeted price of RM3.65 on the counter. The investment bank seems to be positive about the growth of Bintulu Port...
The aluminium casting market is anticipated to expand significantly in the upcoming days as a result of rising demand for lightweight and fuel-efficient automobiles, the proliferation of the construction industry, and the high usage of renewable energy sources. The latest industry-focused exclusive report by AlCircle, “Global Aluminium Industry Outlook 2023” , unveils that the global aluminium castings usage remained stable in 2022 at a 2021 level of around 21.3 million tonnes. However, the usage is forecast to increase marginally in 2023 to reach 21.8 million tonnes. Aluminium casting accounts for a sizable portion of the global metal casting industry, which is expected to expand significantly in the coming years. This market includes a wide range of aluminium casting products, including...
Based in the city of Lucknow in the Indian state of Uttar Pradesh, Baba Glass & Aluminium Fabricators, one of the top providers of aluminium and glass fabrication services, announced the debut of its newest product range, which includes aluminium fabrication services, UPVC windows and LED mirrors. The latest line of UPVC windows will give a house or place of business a beautiful appearance while delivering outstanding insulation and energy efficiency. The windows are an excellent long-term investment for any homeowner because they are made to resist severe weather conditions and require little upkeep. “We are thrilled to offer our customers in Lucknow a range of premium UPVC windows, aluminium fabrication , and LED mirrors. Our goal is to provide high-quality products and exceptional...
USA-based electric bike maker FUELL has brought in two more extensions to its two-wheeler range called Flluid-2 and Flluid-3. The company claims them to be the longest-range e-bikes on the planet featuring a lightweight aluminium framework for swiftness and agility in movement. FUELL's operations are overseen by acknowledged motorcycle engineer Erik Buell, who established the Buell Motorcycle Company in 1989 and introduced some of the first racing motorbikes in America. The latest Flluid-2 model can be deemed as "an ultra-long range e-bike" that travels uninterrupted for 225 miles between charges, while the Flluid-3, a modernised bike model, can cross 110 miles. The Flluid-2 has two 2000W removable batteries allowing a maximum speed of 20mph, and the Flluid-3 can also reach a similar...
On Tuesday, April 11, the SHFE aluminium benchmark price contracted by US$37 per tonne or 1.36 per cent to halt at US$2,678 per tonne. SHFE 2305 aluminium closed down RMB 25 per tonne or 0.13 per cent at RMB 18,615 per tonne. The open interest dipped from 1,968 lots to 201,697 lots. At Monday’s night session, the most-traded SHFE 2305 aluminium contract opened at RMB 18,605 per tonne, with its lowest and highest at RMB 18,570 per tonne and RMB 18,645 per tonne before closing at RMB 18,620 per tonne, up RMB 5 per tonne or 0.03 per cent. LME aluminium price The LME market was closed on April 7 for Good Friday and will remain closed till Monday, April 10. On April 6, Thursday, both LME aluminium cash bid price and LME aluminium official settlement price had closed at US$2,300 per tonne and...
Incorporated in 2018, with a production facility in Sonipat, Haryana, LSKB Aluminium Foils recently introduced Clean Wrap, a first-of-its-kind 2-in-one foil. One side is paper and the other works as aluminium foil. It is up to the users to decide how to wrap their favourite foods from either side, depending on which one is comfortable according to them. In March, the Haryana-based company unveiled India's 1st Golden Embossed HOMEFOIL at the 37th AAHAR - The International Food & Hospitality Fair. The new foil was launched by Bollywood actor Karisma Kapoor. The company's founders have twenty years of expertise in the flexible packaging sector. They decided to enter aluminium foil production to constantly broaden their horizons. The company uses cutting-edge technology in all of its business...
Headquartered in China, Ningbo Xusheng Group is about to invest $276 million to materialise five new subsidiaries in the US, Mexico and Hong Kong. The company is an expert in the manufacture of high-precision aluminium alloy components for vehicles. The latest addition to the company’s existing facilities is to support Xusheng Group’s aluminium business in North America. The new subsidiaries will look after the construction of a new company factory in Mexico. As per the records available on the company website, it can be cited that Xusheng has eight prevailing manufacturing plants at this moment, originating in China. The company provides employment opportunities to more than 2,000 people globally. Though the Chinese company has endured the blows of Covid-19, its business model is quite...
Ball Corp’s aviation-specific innovatory board, Ball Aerospace, has completed the delivery of certain instruments aligned with NASA’s Artemis program. Just last year, Ball Aerospace rolled out a tool that NASA’s Lunar Compact InfraRed Imaging System demanded, called L-CIRiS. The delivery was made to the University of Colorado Boulder Laboratory for Atmospheric and Space Physics (LASP). The entire mission is being overseen by the principal investigator, Dr Paul Hayne of LASP. Once fully optimised, L-CIRis will pick up panoramic visions in the infrared portal to keep records of the Moon’s surface for NASA’s Commercial Lunar Payload Services (CLPS) initiative under its Artemis space program. The instrument’s formation was solely possible of the unparalleled relationships with Ball...
According to a recent report, Egypt Aluminium, popularly known as Egyptalum, has set a target for the fiscal year 2023-24, which includes a plan to achieve EGP 3.12 billion in net profit after tax. This marks an increase of 3.31 per cent from the previous year’s target of 3.02 billion. Egyptalum has also aimed to generate sales up to EGP 26.60 billion at the end of FY2024 (June 30, 2024), up by 29.76 per cent from the previous year’s 20.50 billion. These targets were set by the board members during the meeting of estimated budget for FY2023-24 on April 6, 2023. In the first half of FY2022-23, Egyptalum earned EGP 1.70 billion in net profit after tax compared to EGP 814.15 million during the same period of the previous year. Revenues also grew during H1 FY2023 to EGP 8.35 billion from EGP...
Gekröse, the enormous lacquered aluminium sculpture crafted by Austrian artist Franz West has been added to Doha Corniche, a waterfront promenade along Doha Bay. The monumental sculpture is considered one of Franz West's gigantic creations during his career as an artist. The aluminium sculpture is painted in a vibrant shade of pink. It has a complicated design emanates an unmistakable presence and unquestionably begs for photos. The piece of art is located at Corniche's Theatre Park, in front of the famous Umbrella Park. Gekröse joins newly revealed art pieces near the Doha Corniche, including "Dugong," a polychrome mirror-polished stainless-steel sculpture created by well-known American artist Jeff Koons. The artwork is a part of the Qatar Museum's initiative to hire renowned local and...
The Hammer Pulse Ace Pro Bluetooth Calling Smartwatch comes packed with an aluminium alloy body and blood oxygen monitoring, heart rate, full touch and multiple watch faces with customization. The 1.81" HD digital display and fashionable design make it easy to wear for extended periods. Depending on usage, the battery can last up to 7 days. Both iOS and Android mobile devices may use it. It offers numerous health-tracking capabilities, an in-app GPS, and a rise-to-wake function. The hi-tech smartwatch also includes a calling facility, enabling the users to make and take calls right from the wrist using the inbuilt microphone and speaker. The smartwatch is water- and sweat-resistant (IP67), making it a perfect choice for fitness enthusiasts. Apart from this, it also includes a wireless...
Melbourne-based innovator SPEE3D has publicised the British Army's purchase decision of the company's latest XSPEE3D metal Additive Manufacturing machine to enhance its repairing abilities. The machine is suitable for the use of metals like aluminium bronze, aluminium 6061 and copper. Alongside the instalment of the new Cold Spray AM machine, the British Army is keen on maintaining a two-year relationship with SPEE3D professionals under a contract which will teach the Royal Army's Electrical and Mechanical Engineers the art of controlling the intricate machinery. The XSPEE3D AM machine and all its additional tools can be packed in a standard, completely movable shipping container, allowing the company to export its flagship technology to any part of the world. The XSPEE3D AM machine can...
In South America, alumina production during February 2023 stood at 936,000 tonnes, reflecting a downfall of 9.39 per cent or 97,000 tonnes month-on-month, found the International Aluminium Institute. In January, the output was 1.033 million tonnes, slightly down by 0.86 per cent from 1.042 million tonnes in December 2022. The data indicate that South America’s alumina production in February 2023 marked a second consecutive month of fall at a much higher rate. However, on a year-on-year basis, South America’s alumina output recorded an increase of 8.33 per cent or 72,000 tonnes from 864,000 tonnes. In the first two months of 2023, alumina production in South America totalled 1.969 million tonnes, up by 5.92 per cent from 1.859 million tonnes during the same period last year. In February...
Hulamin, an aluminium manufacturer with headquarters in Pietermaritzburg and Tesla among its clients, claims to have made significant progress in the rapidly expanding electric vehicle (EV) sector. As per Counterpoint Technology Market Research, 10.2 million Passenger electric cars were globally sold in 2022, with China, the US, and Germany leading the way. According to the research firm, sales are anticipated to reach over 17 million units in 2023, mainly due to additional subsidies in the US and drop expected in lithium prices. Hulamin's annual report states that the company has been providing sheet material for quiet aluminium applications, which refers to aluminium used to lighten and quieten electric cars. "The global demand for aluminium products should remain supportive in the 2023...
Economically speaking, one of the most promising resources, ferrous scrap and non-ferrous scrap like aluminium, copper, lead, zinc, tin, brass, etc., recently came under new regulation in Tunisia under the context of the 2023 financial law. Secondary aluminium from recycling allows up to 90 per cent of energy savings in production compared to primary aluminium. Specifically, the demand for aluminium is increasing. Aluminium replaces traditional materials such as steel to reduce weight and, thus, energy consumption. According to Article 35 of this law, industrial firms that export non-ferrous metal waste and ferrous scrap and businesses operating in the industry for the general subject to the tax are also liable to the tariff on the scrap metal export. This move was justified by the...
On Monday, April 10, China’s A00 aluminium ingot price opened the week with a drop of RMB 50 per tonne to halt at RMB 18,620 per tonne, with the spot contract price expected to be traded at a discount price of RMB 50 to RMB 10 per tonne. The average prices are expected to range between RMB 18,600 per tonne and RMB 18,640 per tonne. The prices in Gongyi and Wuxi have slumped by RMB 60 per tonne to halt at RMB 18,540 per tonne and RMB 18,610 per tonne. In Foshan and Tianjin, the A00 aluminium ingot prices have dropped by RMB 50 per tonne to peg at RMB 18,750 per tonne and RMB 18,620 per tonne. The A00 aluminium ingot prices in Chongqing, Shenyang and Linyi have fallen by RMB 40 per tonne to clock at RMB 18,760 per tonne and RMB 18,650 per tonne. The price in Huzhou has slipped by RMB 30 per...
On April 10, today, the SHFE aluminium benchmark price has clocked at US$2,715 per tonne, with a slight escalation of US$3 per tonne or 0.11 per cent. The SHFE aluminium price has been hovering around the average price of US$2,708.80 throughout the first week of April, with traits of remaining close to the US$2,700 per tonne mark at the beginning of the month. At last Friday’s night session, the most-traded SHFE 2305 aluminium contract opened at RMB 18,695 per tonne, with its lowest and highest prices at RMB 18,675 per tonne and RMB 18,730 per tonne before closing at RMB 18,720 per tonne, up RMB 40 per tonne or 0.21 per cent. SHFE 2305 aluminium prices closed at RMB 18,690 per tonne, up 0.51 per cent or RMB 95 per tonne. The open interest added 207 lots to 203,665 lots. LME aluminium...
In the face of the competition from AI-enabled chatbot ChatGPT from OpenAI and Microsoft’s BingAI, Google is now responding with its characteristic agility and innovation. It has been adding a number of features to its search engine and also launched BARD, the conversational chatbot from Google, powered by LaMDA. Google’s CEO Sundar Pichai has recently revealed that soon the market leader in Search Engine is going to launch a number of new AI-powered features. Such features are going to make the results more contextual and in line with the requirement of the users. In his recent interview with Wall Street Journal, Pichai, who also heads Alphabet, mentioned that adding AI features will supercharge the Search Engine’s capability to find the required information. He also dismissed any...
