KAP Minerals and Cymat Technologies are exploring a partnership to produce scandium-aluminium master alloy in Ontario, following the signing of a memorandum of understanding. The partnership would use scandium oxide from KAP’s Kapuskasing critical minerals project and Cymat’s aluminium-processing technology to produce alloys for aerospace, defence and manufacturing applications. To know the global production, demand and consumption forecasts of aluminium extrusions, explore our report " The World of Aluminium Extrusions to 2035 " Scandium-aluminium alloys can improve strength, performance and weldability while reducing weight. The companies aim to use the proposed venture to establish a domestic supply chain, converting Canadian critical minerals into value-added industrial materials....
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...
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LME aluminium opened at US$2,413 per tonne last Friday and closed at US$2,390 per tonne, a decrease of US$28 per tonne or 1.16 per cent. On Friday, February 17, both LME aluminium cash bid price and LME aluminium official settlement price moved down by US$6.5 per tonne or 0.27 per cent to halt at US$2,334.50 per tonne and US$2,335 per tonne. 3-month bid price and 3-month offer price slipped by US$9 per tonne or 0.37 per cent and US$8 per tonne or 0.33 per cent to stand at US$2,372 per tonne and US$2,374 per tonne. LME aluminium opening stock halted at 591950 tonnes. Live warrants and Cancelled warrants came in at 451875 tonnes and 140075 tonnes. LME aluminium 3-month Asian Reference Price pegged at US$2,398.24 per tonne after recording a growth of US$4.24 per tonne or 0.17 per cent. SHFE...
Theodore Levitt once said: ‘Creativity is thinking up new things, innovation is doing new things.’ As it relates to the electrification process of industrial vehicles, it’s a bit of both. The task is the same whether the vehicle uses a conventional diesel engine or an electric one, so you need creativity to discover the technological breakthroughs that will ensure it works just as well in application and an innovative approach to organizing its workflow to ensure its success. This article takes stock of why 2023 seems to be the right time for an aluminium producer, Rio Tinto, to undertake an ambitious project like the electrification of an Anode Hauler fleet and the motivation behind embracing this change and the challenges of switching from diesel to electric engines from theory to...
Leading grain refiner specialist MQP – which is set to present new technical research at TMS 2023 in the US this month – has committed to the advancement of sustainable manufacturing by making the production of its super-efficient Optifine 5:1 125 a ‘closed loop’ process. John Courtenay, Chairman and CEO, MQP The award-winning British company is now not only producing its 125% efficiency grain refiner with low carbon aluminium but is recycling customers’ scrap to make the cost-saving product – which customers can then buy back and improve their sustainable roadmap. MQP chairman John Courtenay, who will be presenting the pioneering research behind Optifine 5:1 125’s incredibly high efficiency at TMS, said: “Making vehicles lighter and creating electrical infrastructure and solar panels,...
The Austria-Vienna headquartered global refractory leader RHI Magnesita's CEO Stefan Borgas has stated that the company is investing INR 3,600 crore in the Indian market over the next two-three years to expand its production capacity and modernise facilities. However, Borgas also said that a portion of the company's capital investment of INR 3,600 crore was used to buy two refractory assets in India. The CEO said, "The capital infusion will be through the subsidiary RHI Magnesita India Ltd." "We have earmarked an INR 3,600 crore investment in India. This would go towards organic and inorganic capacity expansion and modernisation of the Indian manufacturing facilities." The company recently acquired Dalmia OCL and Hi-Tech Chemicals' refractory business for INR1,708 crore and INR 621 crore,...
As a result of the shortage of hydropower in Yunnan after the Chinese New Year holiday, a new round of power rationing is likely to be introduced again to impede aluminium production. In addition, some aluminium smelters are already planning to halt their electrolytic cells. The rumours of electricity restrictions did not surprise aluminium smelters . Several of them had already planned ways to reduce their energy usage, although the formal announcement regarding power rationing has yet to be made. A fresh wave of power restrictions is reportedly set to begin in Yunnan from February 13 to February 15, and aluminium producers will have to reduce their capacity by around 650,000 tonnes annually before reducing it further depending on the water level, as reported by SMM. However, on February...
On Friday, February 17, Hindalco Industries Limited further slashed its aluminium ingot and aluminium products prices to match the global aluminium benchmark price. According to the price chart revealed by the company on February 17, Hindalco cut its aluminium wire rod price by INR 3,750 per tonne to sell the product at INR 234,100 per tonne versus INR 237,850 per tonne on February 14. Hindalco also reduced its aluminium billets price by INR 3,750 per tonne to INR 237,100 per tonne, which previously stood at INR 240,850 per tonne. Aluminium ingot price was no exception but slipped from INR 226,750 per tonne on February 14 to INR 223,000 per tonne on February 17. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal...
Worldwide shipments of aluminium aerosol cans by AEROBAL members increased by 6.8% in 2022 to close to 6 million units. A multinational organisation called AEROBAL represents companies that make aluminium aerosol cans. According to AEROBAL, the rise in exports was mainly brought on by an increase in demand from the personal care, hairspray, and pharmaceutical industries of 13%, 17%, 14%, and 42%, respectively, over the previous year. One of the Huawei Mate50 Pro's proprietary products is a chassis made of an aluminium alloy with fine engravings performed by CNC machines. Trivium Packaging bagged the Best-in-class title for its intense craftsmanship in making Rexona Now United Aerosol Antiperspirant. Three Pack Global Awards—one for Best-in-Class in the Package Innovation Technical Design...
Apart from the Q3FY23 results from companies like Bharat Forge Golkonda Aluminium, the industry also recorded two special award-winning moments. On February 3, 2023, Hyundai Motor Group presented Novelis with the "2022 Supplier of the Year" award at the company's annual "Partnership Day" event in South Korea. ElvalHalcor, the sole Greek manufacturer of flat-rolled aluminium products, secured second place at the "Business Awards HRIMA 2022," held on February 10, 2023. Under the market scenario, Bharat Forge, an Indian multinational company that produces automotive components and engages in forging, reported an EBITDA loss of INR 62 crore in the December quarter (Q3FY23) due to problems with new products associated with the expansion of aluminium forging capacity in Germany and the United...
The Department of Investment and Public Asset Management (DIPAM), which deals with all the matters relating to the management of Govt. of India investments in equity, including disinvestment of equity in Central Public Sector Undertakings, has rejected any disinvestment agenda for the state-owned National Aluminium Company (NALCO). Tuhin Kanta Pandey, the secretary of DIPAM, has flowed this information concerning Nalco. In Budget 2023, the government froze a much lower disinvestment target of INR 51,000 crores for FY24. DIPAM's secretary added, "The goal of the divestment is to follow a calibrated strategy and not distort the market. However, the divestment strategy did not include NALCO ." Nirmala Sitharaman, the Finance Minister of India, said in her budget speech, "It is proposed to...
This week the primary aluminium industry witnessed some prominent events. From top companies like Ma'aden, Nalco and Hydro announcing their fourth-quarter results to LME aluminium price hitting a 5-week low due to rising stockpiles in LME-approved warehouses dampened investor mood. As per the results, Ma'aden, the state-owned mining firm of Saudi Arabia with its headquarters in Riyadh, announced an increase in net profit of more than 87% for the entire year of 2022, boosted by increased sales and higher average prices. National Aluminium Company Ltd (Nalco), a state-owned integrated aluminium corporation in India, reported a net profit of INR 274 crore for Q3 FY 2022–2023 on February 10, 2022, an increase of 61% over the prior quarter. Apart from the financial results, another significant...
According to our sources, analysts from the metal industry have stated that Russia might restrict exports of critical metals like nickel and palladium if Washington imposes high tariffs on Russian aluminium imports. The Russian aluminium supply accounts for only a minor share of the US supplies. However, nickel is essential for the aerospace industry and electric vehicle batteries. Conversely, Palladium is a vital component for autocatalysts in gasoline-fuelled cars. According to Trade Data Monitor (TDM), around 11 per cent of the 92,624 tonnes of nickel imported by the US last year was imported from Russia, while Russian palladium shipments, at 20 tonnes, accounted for almost 35 per cent of US imports. The United States is planning to increase the import tax on Russian aluminium to 200...
Vedanta Limited has again reduced its aluminium ingot and aluminium products prices, with effect from Friday, February 17, bringing its aluminium ingot price to INR 223,750-254,250 per tonne. The price is down by INR 4,000 per tonne from INR 227,750-258,250 per tonne on February 14. Vedanta has also cut its aluminium wire rod price by INR 4,000 per tonne to sell it at INR 231,250-238,750 per tonne versus INR 235,250-242,750 per tonne on Tuesday, February 14. This marks the second cut in a week. The company’s aluminium billet price has come in at INR 232,750 per tonne, down by 1.7 per cent from INR 236,750 per tonne on February 14. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the Londom Metal Exchange, which shrank by US$49.50...
Ideal Aluminum, one of the leading producers of aluminium fences, gates, railing, and outdoor buildings, has appointed Toby Bostwick as the new Chief Executive Officer (CEO). With over 20 years of experience in the construction and building materials industries, Toby Bostwick was related to product management, innovation, sales leadership, and new business development. Before this, he had top executive positions with businesses in the building sector that were primarily involved in cladding, fencing, decking, and railing. He graduated from Purdue University with a Bachelor of Science in Organizational Leadership. Bostwick takes over for Michael Siegel and Doug Brady, who co-led the business for the previous 12 years. Siegel and Brady will continue connecting with Ideal as board members...
Hind Aluminium Industries Limited, a manufacturer of aluminium & alloy conductors and aluminium wire rods, announced its third quarter results ended December 31, FY2023, reporting a year-on-year plunge of 83.22 per cent in net sales from INR 1.49 crore and a quarter-on-quarter slump of 68.75 per cent from INR 0.80 crore to INR 0.27 crore. The company’s net profit for the December quarter was INR 0.99 crore, down by 50.75 per cent from INR 2.01 crore a quarter ago but up by 52.30 per cent from INR 0.65 crore a year earlier. EBITDA stood at INR 1.84 crore in Q3 FY23, significantly up by 6233.33% from Rs. 0.03 crore during Q3 FY2. EPS also increased over the year by 52.43 per cent from INR 1.03 crore to INR 1.57 crore in the December quarter of FY23 but decreased by 50.78 per cent from INR...
The largest manufacturer of aluminium in India, Vedanta Aluminium, has implemented Robotic Process Automation (RPA) in its commercial function to hyperautomate the whole process. Vedanta Aluminium's commercial function is a key function with substantial potential to create value for the firm, thanks to its large-scale plant operations, huge customer presence, and extensive supplier network. This project was carried out in conjunction with Crave Infotech, a rapidly expanding worldwide technology business with strong expertise in Industry 4.0, Digital Supply Chain, Quick-to-Deploy Intelligent Asset Management, Supply Chain Management, and Warehouse Management solutions. The implementation of RPA in the commercial function of the company will increase Vedanta Aluminium's Commercial Maturity...
National Aluminium Company Limited (NALCO) has again curtailed its aluminium products prices in less than a week from the previous cut. With effect from Thursday, February 16, NALCO’s aluminium wire rod price has been reduced by INR 5,300 per tonne or 2.24 per cent to INR 231,050 -235,400 per tonne. On last Saturday, February 11, the price had seen a cut of INR 4,300 per tonne to INR 231,850-235,350 per tonne. This indicates the fact that NALCO has accelerated the rate of price cut in line with the intensity of LME aluminium price fall. During February 10-15, the LME aluminium benchmark price fell by US$68 per tonne to close at U$2,367 per tonne. Like any other Indian aluminium giants, NALCO links its aluminium ingot and products prices to the three-month futures of aluminium on the...
On February 16, 2023, the Prime Minister of Guinea, Dr Bernard Goumou, was precisely in Koumbia to launch a significant bauxite project. On this other trip to the Boké region, Dr Bernard Goumou was accompanied by Moussa Magassouba, the Minister of Mines and Geology. The Prime Minister and mining minister launched the development phase of the Koumbia bauxite project in conjunction with local populations. As part of the Alliance Mining Commodities (AMC) project, it is estimated to cost one billion dollars. The Project is located in the Gaoual prefecture of the Boké region of the Republic of Guinea , West Africa. The Koumbia mine is located approximately 220 kilometres north of Conakry, Guinea's capital, and 130 kilometres north of the port of Kamsar. The Koumbia mining concession spans 728...
UACJ, the Japanese manufacturer of aluminium products and Toyo Seikan Group Holdings had concluded a business alliance agreement to collaboratively research strategies for advancing the horizontal recycling of aluminium cans. With this partnership, they aim to use the technology and expertise of both firms to produce and market aluminium cans with increased environmental value. Also, both businesses will think about working together on initiatives to encourage collecting and recycling old aluminium cans along the whole value chain to promote further "CAN to CAN" horizontal aluminium can recycling . Japanese beverage cans made of aluminium have a high recycling rate of 97 per cent. However, the most recent assessment revealed that fewer than 60 per cent of the can's body and lid are made...
