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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On Monday, August 14, Aluminium Stewardship Initiative announced the joining of IKD Co., Ltd. as a new Production and Transformation member. IKD’s unwavering commitment towards sustainability and contribution to developing green aluminium has brought the company to ASI’s membership. IKD Co., Ltd. is engaged in 360-degree aluminium alloy precision die-casting operations. Founded in 2003 and headquartered in Ningbo, China, the company researches, develops, produces, and sells die-casting parts for automobiles. The production process includes designing and developing die-casting tooling, trimming, heat treatment, precision machining, surface treatment, and assembly. The company’s main products are automotive wiper system, transmission system, steering system, engine system, air condition...
The Dairy Development Authority (DDA) has released better pasture seed kinds that are more nutritious and develop quicker. They also distributed 352 milk cans composed of aluminium alloy, weighing 50ltrs/20ltrs each, 176 milking aluminium buckets, and 68 scoops. In contrast to typical handling equipment such as jerrycans, which leak toxins into the milk and reduce its quality, Christopher Ssebina claims that aluminium cans do not leak harmful substances into the milk and also promotes a sustainable approach. "We are promoting the use of the milk equipment because we want our milk to access further markets both locally and internationally. For milk to access the market, it should be of good quality as per the set standard and to achieve this, they use the recommended containers," Ssebina...
Aluminium battery foil projects are spearheading in China, with 17 new plants under construction or some started production, reported the Shanghai Metals Market survey. Out of the 17 new projects with a total capacity of 1.272 million tonnes, 15 are estimated to be fully operational before the end of 2024. Throughout 2020 and 2021, the aluminium battery foil industry gained immense prominence, experiencing a production increase to almost double at a consistent growth rate of approximately 100 per cent. The number of enterprises with stable output also grew from below 5 in 2020 to 16 at the present. More capacities are coming, driven by the growing demand for aluminium foil batteries. Many of the 17 new projects are likely to start commissioning from 2023, such as Projects 1, 3, 6, 9, 10,...
LME aluminium opened at US$2,147 per tonne on Tuesday, with its high and low at US$2,171.5 per tonne and US$2,136.5 per tonne, respectively, before closing at US$2,141.5 per tonne, a decrease of US$4.5 per tonne or 0.21 per cent from the previous trading day. On Tuesday, August 15, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$10.5 per tonne or 0.50 per cent to settle at US$2,085 per tonne and US$2,085.50 per tonne. The 3-month bid price and 3-month offer price also fell by US$8 per tonne and US$6.5 per tonne to halt at US$2,138 per tonne and US$2,140 per tonne. December 24 bid price and December 24 offer price inched down by US$2 per tonne or 0.08 per cent to close at US$2,310 per tonne and US$2,315 per tonne. LME aluminium opening stock came...
On August 16, the Shanghai Metals Market noticed a considerable price hike of RMB 120 per tonne, with the SMM A00 aluminium ingot price closing at RMB 18,590 per tonne. The average aluminium ingot prices have ranged between RMB 18,570 per tonne and RMB 18,610 per tonne. SMM A00 aluminium ingot price historical data points out that the rate of aluminium on May 16 was RMB 18,240 per tonne, which augmented on a Quarter-on-Quarter basis by RMB 350 per tonne or 1.92 per cent to reach what it is today. China’s eight central provinces have shown escalating prices today, with Wuxi recording the highest upturn of RMB 180 per tonne to finally settle at RMB 18,660 per tonne. In Hangzhou, the aluminium ingot price has shot RMB 160 per tonne up to rest at RMB 18,640 per tonne, followed by RMB 150 per...
Evet Aluminyum Sanayi ve Ticaret Ltd. Şti is a well-established player in the aluminium industry, with a successful track record dating back to 1990. AL CircleBiz is ecstatic to welcome Turkish Evet Aluminyum aboard the 1200+ verified aluminium product sellers platform. The company's initial focus was on electrostatic powder coating, and since then, they have expanded its portfolio to offer a comprehensive range of products that meet international standards. With a sprawling 2500 m2 closed area in the industrial site, the company boasts an impressive production capacity of 4000 tonnes per year for electrostatic powder painting and 500 pieces per year for mould production. Evet Aluminyum takes pride in its ability to carry out all production stages in-house, which results in maximum...
Goyal Aluminiums Ltd, a metal trading services company, has recently reported its quarterly results for the period ending on June 30, 2023. The company has performed exceptionally well in Q1 FY24, with impressive growth in key financial indicators compared to the previous quarter. The net sales for the quarter stood at INR 16.24 crore, exhibiting a growth of 71.65 per cent over Q4 FY23. The operating profit has increased by 111.63 per cent, reaching INR 0.91 crore. The profit before tax has also witnessed a notable increase of 88.40 per cent, standing at INR 7.71 crore. The company has reported a profit after tax of INR 6.51 crore, reflecting a growth of 117.32 per cent. The EPS for Q1FY24 is INR 0.05. In the previous fiscal year, Goyal Aluminiums Ltd recorded net sales of INR 65.99 crore...
Hydro Rein and Norwegian landowner Opplysningsvesenets Fund (OVF) are forming a cooperative solar power firm. The partners intend to build seven solar projects totalling 655 MW on chosen Norwegian lands. Geisli Energi AS, Hydro Rein, and OVF have formed a new business to enter the fast-expanding Norwegian solar sector. Hydro Rein will control 49.9 per cent of the new firm, while OVF will possess 50.1 per cent. The partnership's next step will be to undertake extensive inspections of OVF assets and decide on prioritised locations. The completion of the solar power plants will allow for local growth and new green electricity to industry in places that have previously had limited access to power. Establishing the new solar firm marks a milestone in Hydro Rein's sustainable development path...
The Zera Cooling Crescent, invented by Aphra Hallam, is a wearable device that reduces the hot flushes that women might suffer during menopause. The device comprises reusable aluminium and silicone and is meant to fit comfortably behind the neck. The gadget employs thermoelectric technology to provide a cold feeling that alleviates the hot flushes that might occur during menopause. The technique uses a Peltier module, a thermal control device that provides a voltage between two electrodes and is attached to an aluminium strip. The module cools the metal strip and targets the skin's blood vessels, allowing the user to cool down during a hot flush. The gadget is managed by an app called Zera, which users may use throughout the day. This contains a monitoring function for ladies to keep...
Renishaw, a global engineering technologies company, has collaborated with British Cycling and other partners to develop the new Hope-Lotus track bike as part of its ongoing partnership with the Great Britain Cycling Team. The experts have decided to use aluminium and titanium parts to make the bike sturdy. This cutting-edge bike will be used by Great Britain's track cyclists at the 2023 UCI Cycling World Championships in Glasgow and the 2024 Olympic Games in Paris. To design and optimise its latest track bike, British Cycling has continued to work with the best of British engineering. They have improved on the bike that won the top spot on the track cycling medal table at the 2020 Tokyo Olympic Games. British Cycling, with the help of its partner engineers, has created bespoke aluminium...
Century Aluminium Company, the owner's primary aluminium capacity in the United States and Iceland, announced its second quarter 2023 results. The company's net sales for the second quarter ended June 30, 2023, increased by 4 per cent sequentially, primarily due to higher realized aluminium prices. Century reported net income attributable to Century stockholders of $7.5 million for the second quarter of 2023, a $46.1 million improvement sequentially. Second quarter results were impacted by $8.2 million of net exceptional items, in particular $6.6 million lower of cost or net realizable value adjustment, net of tax, $3.6 million in curtailment costs related to the Hawesville plant, $1.6 million in share-based compensation costs and $0.7 million related to one-time transaction costs...
Baker McKenzie, a top-tier global law firm, has provided legal guidance to Gulf Aluminium Rolling Mill (GARMCO), a major downstream aluminium firm in the Middle East headquartered in Bahrain, regarding its debt restructuring to creditors, following the reorganisation plan approved by the courts of the Kingdom of Bahrain. The group of creditors comprised Ahli United Bank, National Bank of Bahrain, Mashreq Bank, Arab Bank, Standard Chartered Bank and Aluminium Bahrain. The reorganisation plan, approved by the courts, covers an outstanding debt of USD 268 million, which will be addressed through a combination of debt-equity swap, interest-free debt, interest-bearing debt, and subordinated debt. Legal support from Baker McKenzie was provided for the interest-free debt and the interest-bearing...
The rising demand for electric vehicles (EVs) has brought to light the problem of using rare earths in contemporary technologies. Fortunately, there are many solutions for eliminating the usage of rare earths in EVs. Induction motors, for example, have widely been employed in the EV industry and utilise aluminium windings or copper on the rotor. They have a higher peak power and torque density than permanent magnet (PM) motors but a poorer efficiency. Another possibility is a wrapped rotor motor, which uses coil windings instead of magnets on the rotor. This controls the stator and rotor fields and is used by firms such as BMW and Nissan. Regarding alternative magnetic materials, attempts are being made to create magnets that do not include rare earth and can compete with their...
India’s aluminium scrap imports from the United States have been portraying steady growth since the beginning of 2023. Of all the earlier months, May saw the highest sequential increase of 20.85 per cent to 48,100 tonnes. In April, India’s aluminium scrap imports from the US stood at 39,800 tonnes, up by 9.34 per cent from 36,400 tonnes in March. The imports in March and February saw a month-on-month rise of 17.42 per cent and 5.8 per cent, respectively, showed USGS data. From January to May 2023, India’s total aluminium scrap imports from the US accumulated at 185,000 tonnes, slightly down by 1,000 tonnes from 186,000 tonnes during the same period of the previous year. On a year-on-year basis, India’s aluminium scrap imports in May increased 25.26 per cent from 38,400 tonnes. The United...
ALFED, the Aluminium Federation, has joined forces with Fronius UK and Cranfield University to present an engaging and knowledge-packed day. This event will feature captivating demonstrations, and insightful discussions centred around the fascinating subject of aluminium joining. The Aluminium Welding Technology Event is scheduled to take place at Fronius UK's Technology Centre in Milton Keynes on September 27 th , 2023. This event is ideally suited for individuals engaged with the use of this lightweight and forward-looking metal, offering valuable insights into enhancing efficiency in their work practices. Discover the forefront advancements driving the future of welding technology in laser welding, manual and robotic welding, and wire arc additive manufacturing. This event provides an...
India is celebrating its 77th Independence Day, a journey of progress and unity. This commemoration marks the country's liberation from British colonial rule, signifying the triumph of freedom, harmony, and self-governance. And to commemorate this significant event, Vedanta Aluminium, one of India's biggest aluminium manufacturers, has launched a multi-channel campaign named '#AzadiKaAsliMatlab' (The True Meaning of Freedom). The campaign revolves around a visually stunning video that captures the country's growth on several fronts. The video debuted on YouTube on August 14th and has been published across all the major social media platforms today (August 15th). The video also highlights the importance of aluminium as the foundation for many vital applications in today's world, propelling...
LME aluminium opened at US$2,180 per tonne on Monday with its high and low at US$2,180 per tonne and US$2,143.5 per tonne respectively before closing at US$2146.5 per tonne, a decrease of US$29 per tonne or 1.33 per cent from the previous trading day. On August 14, the London Metal Exchange witnessed falling aluminium prices with the LME aluminium cash bid price stopping at US$2,095.50 per tonne, tumbling by US$29.50 per tonne or 1.39 per cent. The LME aluminium live price chart also flashed a US$31 per tonne or 1.46 per cent crunch in the LME aluminium official settlement price, with it closing at US$2,096 per tonne. If we consider the LME aluminium market on August 15 one year back, the price stood at US$2,389.50 per tonne, which has slumped year-on-year by US$293.50 per tonne or 12.28...
Aluminium Bahrain B.S.C. (Alba) has expanded its AA6060 alloy family by adding a new alloy '6060.HE', aiming to extend product offerings to extruder customers. Produced in a billet form, Alba's new alloy has a faster extrusion rate that improves process efficiency and productivity for its users. The alloy, with a wide application in the construction sector, has been developed in collaboration with the University of Bahrain. The university as well as Bahrain Aluminium Extrusion Company (BALEXCO), Alba's longstanding customer and one of the leading aluminium extrusion producers in the region, have supported extensively in the development of new alloy by way of field trials, visits, and technical feedback. They started developing 6060.HE in January 2022 and began commercial production in...
