Aluminium prices gained 0.43 per cent as reduced Gulf production and low exchange inventories supported the market, while Chinese output and capacity restarts could limit further gains. Aluminium prices settled 0.43 per cent higher at INR 348.65 (USD 3.63) as tight physical supply conditions supported the market. Disruptions linked to the US-Iran tensions have affected aluminium availability from the Gulf region, with Gulf Cooperation Council (GCC) production falling 44 per cent year-on-year in July. Low exchange inventories have added to supply concerns. London Metal Exchange (LME) stocks remained near a 36-year low, while inventories on the Shanghai Futures Exchange (SHFE) declined 4.7 per cent from the previous week. However, expectations of improving supply have limited the market’s...
Leading Indian aluminium producer Vedanta has renewed its push to revive bauxite mining at Odisha’s Niyamgiri hills, about 13 years after the proposed project was shelved. With Niyamgiri hosting around 80 million tonnes of bauxite reserves, the renewed proposal brings the resource potential of the Kalahandi-Rayagada belt back into focus. Vedanta Chairman Anil Agarwal discussed reopening the Niyamgiri bauxite mining project with Odisha Chief Minister Mohan Charan Majhi in Bhubaneswar on September 26. Agarwal mentioned that the discussion addressed employment opportunities for involved tribal communities. “Today it was discussed for reopening of Niyamgiri. The affected tribals should be given jobs,” Agarwal stated. The state government also indicated that steps would be taken towards the...
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Alumina Limited, an Australian holding company, declared its 2023 first half results ended June 30, 2023, reporting a net loss (after tax) of US$43 million, compared to a net profit after tax of US$168 million during the corresponding period of the last year. Alumina Limited holds 40 per cent share in Alcoa World Alumina & Chemicals (AWAC), a joint venture with Alcoa. Lower volume of bauxite and alumina output against increased production costs was the reason for the loss accrued by Alumina Limited. Alumina production at the end of June 30 stood at 5 million tonnes, down by 18.03 per cent from 6.1 million tonnes a year ago. Alumina realised price was $361 per tonne, while cash cost of production was $319 per tonne. Alumina Limited’s CEO, Mike Ferraro, rightly pointed out, “The alumina...
Lizhong Sitong Light Alloys Group has bagged a contract worth US$ 240 million (RMB 1.8 billion), under which it becomes the authentic supplier of aluminium alloy wheels for a leading Chinese electric car company's latest model. Lizhong unit Baoding Lizhong Wheel has been entrusted with the responsibility of providing aluminium alloy wheels for high-end electric cars, as was informed by the parent company. Though the Chinese car maker's name remains undisclosed, commercial production of the wheels is expected to start by the second half of next year. These aluminium alloy wheels will have a utility time of at least three years. The wheels have been aligned with the client's newly developed chassis, and they can be used in similar models in the upcoming days, the Baoding headquartered...
The Shanghai Metals Market (SMM) on Tuesday, August 29, recorded a growth of RMB 10 per tonne in A00 aluminium ingot price. The price as of today closed at RMB 18,910 per tonne, with the spot contract prices expected to be traded at a premium price of RMB 160 per tonne and RMB 200 per tonne. The average prices may orbit between RMB 18,890 per tonne and RMB 18,930 per tonne. On M-o-M calculation, the domestic aluminium ingot price witnessed a surge of RMB560 per tonne from RMB 18,350 per tonne recorded on July 28, the same year, whereas Y-o-Y a drop of RMB 50 per tonne was seen from RMB 18,960 on August 29, 2022. The prices as of today have hiked by RMB 60 per tonne in Chongqing to reside at RMB 18,870 per tonne, followed by a growth of RMB 40 per tonne in Linyi to close at RMB 18,940 per...
Bintulu Port Holdings Bhd's (Bintulu Port) operations are expected to perform better in the second half of the year, according to analysts, despite its first-half results falling short of the full-year consensus estimate. Kenanga Research believes that the results are in line with expectations and hopes for a stronger second half due to higher liquefied natural gas (LNG) shipments ahead of the winter months. However, the ongoing economic challenges in China may lead to lower demand for aluminium and manganese, which could affect inbound and outbound cargo volumes from Samalaju Industrial Port's key customers. Nevertheless, Kenanga Research believes that Bintulu Port's key customers have an edge over their peers in the international market due to their products' low-carbon footprint....
Rolls-Royce, the world's third most valuable luxury automobile company, has revealed two of its most costly and opulent car models: the La Rose Noire Droptail and the 2023 Rolls-Royce Amethyst Droptail. Rolls-Royce used aluminium blended with other metals like steel, carbon fibre, etc., to forge the chassis, which collectively upholds the vehicle's structural integrity, performance, and overall quality. Rolls-Royce's Amethyst Droptail claims to be the world's most expensive car, giving high challenges to the other premium automobiles. With its ingenuity and technical progress, the age-old automotive company is one of the most trustable brands for premium cars. The newest Amethyst Droptail, a bespoke, is inspired by gemstones, sand dunes, and flowers and is painted in a multi-tone colour...
AL CircleBiz is a first-of-its-kind global online marketplace connecting millions of buyers and sellers across the aluminium value chain. It is a devoted platform to the aluminium industry and witnessed enormous growth in both supply and demand within six months of its launch. The company has successfully onboarded BP Aluminium Extrusion . BP Aluminium Extrusion is a well-known manufacturing firm specialising in creating aluminium extrusion profiles. Based in Malaysia, the firm has built a reputation for providing high-quality goods to various sectors. To know more about the products offered by BP Aluminium, visit AL CircleBiz’s website. The products offered include: Aluminium Unequal Channel Profiles Aluminium Flat Bar Profiles Aluminium Sliding Window Profiles Aluminium Round Tube...
AML3D Limited, with a head office in Edinburgh, Australia, has secured an AUS$2.02 million contract to produce replacement metal components for US Navy submarines using its Additive Manufacturing technology. These components would be made of standardised nickel-aluminium-bronze (NAB) alloy by AML3D. Valued at approximately AUS $2.02 million, the nine-month contract has been signed with BlueForge Alliance, a non-profit, neutral integrator that supports the strengthening and sustainability of the US Navy’s Submarine Industrial Base, including the acceleration of advanced manufacturing technologies. The high-demand component is no longer available from conventional manufacturers, and this presents an ideal opportunity to showcase the capabilities of AML3D’s technology in addressing supply...
Pittsburgh-based Arconic Corporation, a prominent supplier of aluminium sheets, plates and extrusions, announced the completion of its US$5.2 billion acquisition by Apollo Funds and Irenic Capital Management. Under the transaction terms, Apollo Funds and Irenic paid $30 per share for all outstanding shares of Arconic stock. Arconic is no longer a publicly listed company due to the acquisition of all of its shares. Arconic Chief Executive Officer Tim Myers said this deal would benefit many stakeholders. "The closing of this transaction with Apollo Funds brings a new perspective combined with deep industry expertise that will benefit our customers, employees, investors, and the communities where we operate. With them by our side, we will build on our position as a leading supplier of...
Northvolt, a Swedish battery manufacturer, in partnership with EMR, a British metal recycling firm, has opened a recycling plant in Hamburg, Germany. This facility is a crucial part of Northvolt's recycling strategy, with an expected capacity of processing 10,000 tonnes of battery packs annually. The Hamburg facility, covering an area of 12,000 square metres in Halskestraße in Hamburg Billbrook, is operated and equipped by EMR, while Northvolt was responsible for planning operations and integrating specially developed battery unloading and dismantling solutions. The facility will discharge and disassemble battery packs and complex traction batteries from electric cars. EMR will extract high-grade copper and aluminium from the traction batteries, which can be reused to manufacture battery...
In July 2023, China's primary aluminium exports reached 22,700 tonnes, climbing 200 per cent year-on-year. But the country's total exports in the year's first seven months reflected a fall of 56 per cent to 80,300 tonnes. China's pre-baked anode exports dipped by 0.42 per cent M-o-M and dwindled by 21.63 per cent Y-o-Y to come in at 161,800 tonnes in July 2023. According to rough calculations, the average export unit price of pre-baked anode in July was $768.14 per tonne (approx.), down by 4.89 per cent M-o-M and 2-year low. The cumulative export volume of China's pre-baked anode during January-July 2023 was 2.0421 million tonnes – 14.81 per cent less than the corresponding period of the last year. China's aluminium sheets and strips exports reached 228,000 tonnes in July, marking a 2 per...
Sumitomo Chemical has achieved remarkable achievement in pioneering production techniques for ultra-fine α-alumina, with mass production slated to begin in September this year at its Ehime Works. Through technical advancements in inorganic materials, the Company will build new markets in the ICT, energy-saving, and life science domains in collaboration with its clients. In FY2025, the firm hopes to boost sales income in its ultrahigh purity alumina business by 30 per cent over FY2023. Ultrahigh purity alumina refers to alumina materials produced by calcining aluminium hydroxide at high temperatures to purity levels of 99.99 per cent or more. The latest mass-production goods include the NXA series, which are ultra-fine grade α-alumina materials primarily employed in industrial items. They...
Alia Al Hashimi's commanding presence at the controls of a massive crane overseeing scorching aluminium smelters sends a resolute message to young women: They can carve out a place on the factory floor. At 24, Al Hashimi, a chemical engineer, defies gender stereotypes by skillfully navigating the crane, hoisting her above the sprawling Kizad facility of Emirates Global Aluminium (EGA), the UAE's foremost industrial giant beyond oil and gas. Despite her family's initial concerns about entering a male-dominated sector, Al Hashimi's unwavering commitment to her dream career has driven her forward. "They said it was a difficult job and a job that a man does," she shared. With her gaze set on inspiring others, Al Hashimi, an American University of Sharjah graduate, emphasizes the importance of...
According to data revealed by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), alumina powder production in Iran grew 2 per cent year-on-year during the first four months of the current Iranian calendar year (March 21 to July 22). Iran produced 82,548 tonnes of alumina powder in the said period versus 80,896 tonnes during the corresponding period of the last year. Compared to the final quarter’s alumina output of the previous Iranian year (1401) at 49,703 tonnes, Iran’s alumina production in the first four months of the present calendar year showed a recovery trend. In the last quarter of 1401, Iran’s alumina powder output stood at 49,703 tonnes. In the previous Iranian calendar year 1401 (ended on March 20), the country churned out 225,942 tonnes...
The U.S. government has proposed a $7 billion (for starters) investment for a much-needed advancement in clean hydrogen generation, which can be made possible with GH Power's groundbreaking technology that uses recycled aluminium and water to produce pure hydrogen. The hydrogen generated by the modular version of GH Power's 2MW reactor is pure and clean. It has zero emissions, zero carbon, and zero waste, even though it is made from just two inputs (recycled aluminium and water). GH Power, known for building and operating energy reactors that deliver green base-load power, has created a one-of-a-kind renewable energy technology that uses exothermic processes to generate three highly desired green outputs: hydrogen, green alumina (aluminium oxide) and exothermic heat, thereby slaying three...
Saint Gobian India is planning to invest almost INR 8,000 crore in the upcoming 4 to 5 years to boost capital expenditure and simplify the process of future acquisitions. The company is a renowned supplier of high-quality glass, steel or aluminium windows, doors, facades and other constructional solutions. Saint Gobian’s CEO of Asia Pacific, B Santhanam made the above announcement. The company recently acquired Rockwool India and Twiga, and is keen on pursuing inorganic growth opportunities in India. Saint-Gobain India, a subsidiary of the French multinational corporation, anticipates a mix-led growth of approximately 10% in volume from the Indian market, where a surge in demand is being observed. Saint Gobian CEO of Asia Pacific and India region and Chairman, Santhanam, explained:...
Zacks Investment Research has reportedly lowered its estimates for Century Aluminium’s Q3 2023 earnings per share (EPS) in a research report issued to clients and investors. According to M. Agarwal, a research analyst at Zacks, projects that Century will post earnings of $0.09 per share for the current quarter, significantly down from the previous forecast of $0.22. As per the investment research firm Zacks, the downtrend is likely to continue until the fourth quarter of 2023, with EPS estimated at $0.06. Other equities analysts have also issued research reports about the company. StockNews.com has granted a ‘sell’ rating to Century Aluminium in a research note, while Wolfe Research has reduced Century’s rating from ‘peer perform’ to ‘underperform’, setting a $6.00 target price on the...
The leading industrial furnace and oven manufacturer, SINC Thermal, announced that it had signed an exclusive license agreement with Japan's Nippon Crucible Co. to manufacture their Shaft-Melter range of furnaces in the US market. Masato Masuda, the Executive Officer and General Manager of International Corporate Marketing and Sales at Nippon Crucible Company, stated, "We spent a long time vetting the right Partners for the USA market. We believe we found a good fit with the SINC Thermal Team and look forward to working together to bring the Freedom ® Melting Technology to the USA." However, this agreement returns the popular Jet-Melter ® and Micro-Jet-Melter ® to the US market with proven performance for nearly 40 years. It also introduces the Freedom ® and Hybrid-Freedom ® Melting...
The average alumina spot price has dropped RMB 1 per tonne, stopping at RMB 2,912 per tonne, while the alumina price in Shanxi has lost RMB 5 per tonne to clock at RMB 2,925 per tonne. The alumina price in Guangxi has gained RMB 10 per tonne, closing at RMB 2,915 per tonne, and the alumina price in Shandong has strolled RMB 5 per tonne upward to finally officiate at RMB 2,880 per tonne. The price of CIF Index of Import Bauxite has hiked by RMB 0.93 per tonne to close at RMB 485.24 per tonne. On August 28, the Shanghai Metals Market recorded escalating prices all over China, with the SMM A00 aluminium ingot price closing at RMB 18,900 per tonne, surging by RMB 70 per tonne. The average aluminium ingot prices have circulated between RMB 18,880 per tonne and RMB 18,920 per tonne. China’s...
