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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The Chicago Mercantile Exchange (CME) Group reported enthusiastic market participation in its aluminium futures contract at the beginning of 2023, with a record average daily volume of 3,161 contracts in February - 300 per cent more than the previous year. CME said that in the first two months of 2023, it recorded an average daily open interest of 2,549 contracts, up 711 per cent Y-o-Y in futures activity. Jin Chang, managing director and global head of metals with CME Group, said: “We are pleased to see that strong momentum in our aluminum markets has continued into 2023, and we look forward to helping more participants across the base metals supply chain manage their risk effectively.” “In addition to strong volume and open interest growth, we also saw a record 166 unique users in...
Lorin Industries Inc., the world leader in aluminium coil anodizing, announced that its president Park Kersman had been elected as a board member of the Aluminum Anodizers Council. Park Kersman brings with him a vast experience in aluminium anodizing; hence, he is expected to provide insights and guidance to support the other member companies of the council that produce anodized aluminium or use the material. The Aluminum Anodizers Council is the international trade association of firms engaged in aluminum anodizing. It promotes and advocates aluminium anodizing industry through educational programmes, technical bulletins, and networking that include the annual International Anodizing Conference and Exposition. In addition, the association’s website hosts educational materials on...
LME aluminium opened at US$2,291 per tonne on Thursday, with its high and low at US$2,345.5 per tonne and US$2,287 per tonne, respectively, before closing at US$2,326.5 per tonne, an increase of US$41.5 per tonne or 1.82 per cent. On Thursday, March 23, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$32.5 per tonne or 1.45 per cent and US$33 per tonne or 1.47 per cent to stand at US$2,264 per cent and US$2,265 per tonne. 3-month bid price and 3-month offer price increased by US$30.5 per tonne or 1.33 per cent and US$31 per tonne or 1.35 per cent to score at US$2,312.50 per tonne and US$2,313.50 per tonne. December 24 bid price and December 24 offer price ascended by US$23 per tonne to halt at US$2,520 per tonne and US$2,525 per tonne. LME...
Pitú, a Brazilian firm with 85 years of experience in the cachaça industry, debuted its Ice Remix ready to drink (RTD) beverage brand at a Carnival in 269ml aluminium cans with flavours of lemon and pineapple with coconut. Dubbed Pitú Remix, the recently launched RTD has a reduced 7 per cent alcohol concentration and is marketed by cachaçarias and distributed all around Brazil. "Ready-to-drink" beverages or those that can be purchased already mixed with other ingredients, are a popular trend across the globe and have gained popularity among younger generations in particular because they fit in with how Gen Z and millennials typically behave. "The ices arrive to bring us even closer to the young public, who are looking for lighter drinks. They are canned drinks, super refreshing, which...
Aluminium Stewardship Initiative (ASI) announced the joining of MinTa Aluminum as its new Production and Transformation member. Established in Tainan, Taiwan, in 1961, MinTa Aluminum has continuously invested in metal processing for over 50 years. MinTa can provide holds a comprehensive solution for delivering aluminium profiles. MinTa began the manufacture of aluminium to better serve its consumers. The company successfully integrated its aluminium profile processes over the past ten years, investing a total of 30 million US dollars in processes like aluminium billet casting, die casting with in-house tool design, aluminium extrusion, CNC milling for cutting, bending, and punching, surface anodizing, hydroforming, etc. “MinTa Aluminum is committed to meeting the high standards of the...
Heineken® Silver, a new lower-carb and lower-calorie offering from the Dutch multinational brewing company, has been launched in the U.S. market in 12-oz slim aluminium cans and 24-oz aluminium cans. It takes centre stage as a premium new alternative in the light lager category, which accounts for roughly half of the U.S. beer market by volume. The much-talked-about beer will be launched nationwide this spring. It will be offered at all retail outlets nationwide, both on-premise and off-premise, where other Heineken products are marketed. "Enjoying a crisp and refreshing lager sometimes comes at the expense of taste and quality, but beer lovers can say goodbye to compromise with the introduction of Heineken Silver. It's crafted to meet the needs of a new generation of experience seekers...
Axess Technologies, a wholly-owned subsidiary of Axess Group that provides engineering and material handling solutions to leading manufacturers, has won a contract to supply four service cranes to Hydro's Sunndal aluminium smelter in Norway. Axess Technologies is a leading supplier of lifting equipment and automation systems to various industrial companies. However, the supply of cranes to Hydro would increase efficiency and safety in the production process. The company has detailed that each crane has a 23-meter span, a 10-meter height of lift, a 20-tonne capacity, and an additional 5-ton auxiliary hoist. However, to lift 40 tonnes, the four cranes will work in pairs. The cranes are classified as having an M6/A6 duty grade. Hydro Sunndal stated that it is "convinced" that the new cranes...
According to the US Census Bureau survey, the United States' primary aluminium output started the year 2023 with a monthly restraint. Data shows the country's monthly aluminium production continued to stand at 64,000 tonnes in January, but the average daily output slightly dipped from 2,060 tonnes in December to 2,050 tonnes. On a year-on-year calculation, the United States' primary aluminium output in January 2023 recorded a downfall of 18,000 tonnes or 21.95 per cent from 82,000 tonnes. Daily average production slipped by 600 tonnes or 21.95 per cent over the year from 2,650 tonnes. Total aluminium recovered from scrap in the United States during January 2023 was 278,000 tonnes versus 266,000 tonnes in December 2022. Of the total recovery in January 2023, 162,000 tonnes of aluminium was...
Spirit AeroSystems and Astraius have signed a Memorandum of Understanding (MoU) to support the Prestwick Spaceport, created through an alliance between Glasgow Prestwick Airport and South Ayrshire Council. Spirit produces aerostructures for aircraft with advanced knowledge in composite and aluminium components manufacturing. Prestwick Spaceport helps ferry small satellites into orbit by executing a horizontal launch or “air launch”. Prestwick had previously, in September 2021, anointed Astraius as a launch enabler who assured providing high-end technologies for pristine launch conditions. Prestwick usually optimises an aircraft flying over the Atlantic Ocean. Astraius’ horizontal launch system utilises a C-17 transport aircraft with an embedded delivery platform that chokes its dependency...
Tesla is yet to receive another 9-ton (8.2 metric tonnes) press at its Giga factory in Austin, Texas. The press would help the automobile giant in formulating patented aluminium car components. This new press can be regarded as the largest among its contemporaries worldwide. This is the second press that is being delivered to Tesla after it acquired the first model in January 2023. These two presses are bigger than Tesla’s existing presses in Shanghai and Berlin, so they will be applied in the production of Tesla’s Cybertruck. IDRA Group, the creators of the specialised press, has posted relevant videos on the internet to illustrate the company’s enigmatic process and capacity. Sources provided proof of delivery by posting images of the lading bill, commenting: “Today, we can confirm that...
India's biggest aluminium manufacturing company and the world's most significant flat-rolled products player and recycler of aluminium, Hindalco Industries' Chairman Kumar Mangalam Birla, has been awarded the highest civilian honour of India, the Padma Award 2023 for his commendable contribution to the field of trade and industry. Kumar Mangalam Birla is also the Chairman of the American industrial aluminium company Novelis Inc. headquartered in Atlanta, Georgia, United States. His accomplishments are numerous in the business world. Many had believed the weight of legacy would be too much for the young man when he took up the group's banner after his father's unexpected death. He has disproven their claims, but he has proven them incorrect. In the 28 years since he has been in charge, he...
According to the Shanghai Metals Market survey, China’s aluminium billet inventories again decreased week-on-week but at a lower rate as of Thursday, March 23, after the two former weeks of hikes. As per the SMM data, the inventories dipped by 1,500 tonnes from a week ago to amount to 167,900 tonnes. Last Thursday, March 16, the billet inventories climbed 6,000 tonnes W-o-W to peg at 169,400 tonnes. Stable aluminium production across China this week ensured smooth arrivals of stocks. Due to the widening price difference, more billets flowed to Foshan than Wuxi, resulting in a growing stock in Foshan and a decline in Wuxi. To know the current status of aluminium billet inventories across China in more details, refer to the chart below: According to SMM, aluminium billet inventories only...
DR Axion, a supplementary board to Craftsman’s existing aluminium business, has reported fast-paced revenue growth in current times attributed to Kia’s entry and diversification, eyeing the PHEV market in India. This has led Craftsman to opt for a 76 per cent stake in the business at INR 3.75 billion with consultations from IIFL Securities analysts. DR Axion has skilfully traversed beyond Hyundai and Kia with humungous orders from M&M, which would propagate the next phase of the company’s growth. Experts from IIFL Securities project that the acquisition would become 5-7 per cent EPS-accretive in FY24 or FY25. The acquisition plan was worth 4.4x FY23 estimated EV/EBITDA. Though DR Axion has encouraged large-scale expansions in recent years, its production rate remained low at 65 per cent....
The world leader in the mining of bauxite and iron ore, among many other minerals, Rio Tinto, observed World Water Day on March 22, 2023, by publicising information about annual surface water usage across its global network of managed sites in 35 countries, through an interactive map on its website. The database details permitted surface water allocation volumes, the site's annual allocation usage, and the associated catchment runoff from each managed site's average yearly rainfall estimate. The database will be updated annually and include five years of historical comparative data. Rio Tinto pledged in 2019 to promote good water management and improved disclosure to stakeholders by sharing site-by-site surface water usage statistics for all managed sites by the end of 2023. The...
Gutterglove has reportedly launched a new gutter guard made of aluminium. With 20 years of experience and expertise in the gutter guard market, Gutterglove has expanded its product portfolio by introducing All-Aluminum Gutter Guard for essential protection. The new product is designed in a way so that it can handle average rainfall and resist large leaves, debris and pests from going into gutters. All-Aluminum Gutter Guard utilises the company’s patented technology, outperforming other entry-level options of gutter guards. The new guard is made with RiserStep™ technology, which slows down the flow of rainwater into gutters like small, dam-like steps. The All-Aluminum Gutter Guard will be sold on the consumer and professional retail channels from March 2023. In 2000, Gutterglove realised...
In commemoration of Global Recycling Day, Al Meera Consumer Goods Company has partnered with the Seashore Recycling and Sustainability to introduce the first wholly integrated electronic waste (e-waste) recycling station. Both organisations are eager to turn away the plastic, paper, tin, glass and aluminium scrap from landfills. At present, the pilot project is visibly located at the Al Meera Legtaifiya branch parking lot, with the organisation planning country-wide circulation soon. Al Meera’s initiative is thoroughly inspired by the idea of Qatar National Vision 2030, which envisions turning the country into a pillar of sustainability with all the operations and services being carbon-free and environment-friendly. The e-waste recycling programme will aid in eliminating the chances of...
In February 2023, Africa's primary aluminium production stood at 130,000 tonnes, reflecting a plunge of 13,000 tonnes or 9.09 per cent month-on-month, found the International Aluminium Institute. But in January, the output edged 3,000 tonnes or 2.10 per cent higher at 143,000 tonnes, compared to 140,000 tonnes in December 2022. On a year-on-year calculation, Africa's primary aluminium output registered an increase of 7,000 tonnes or 5.69 per cent from 123,000 tonnes. In the first two months of 2023, primary aluminium production in Africa totalled 273,000 tonnes, up by 13,000 tonnes or 5 per cent from 260,000 tonnes. IAI data also showed that despite the monthly plunge in Africa's primary aluminium output during February 2023, the average daily production stood restrained at 4,600 tonnes....
LME aluminium opened at US$2,275 per tonne on Wednesday, with its high and low at US$2,285 per tonne and US$2,261 per tonne respectively before closing at US$2,285 per tonne, an increase of US$15.5 per tonne or 0.68 per cent. On March 22, Wednesday, the LME aluminium cash bid price and the LME aluminium official settlement price slipped by US$3 per tonne or 0.13 per cent to halt at US$2,231.50 per tonne and US$2,232 per tonne. The LME aluminium price has been on a fluctuating spree this month with no sudden spikes and the average prices ranging between US$2,366.50 per tonne and US$2,232 per tonne. The 3-month bid price dived down by US$2 per tonne or 0.09 per cent, stopping at US$2,282 per tonne, whereas the 3-month offer price dropped US$3.50 per tonne or 0.15 per cent, closing at...
