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 Tuesday, August 15, the A00 aluminium ingot price in China gained RMB 90 per tonne to settle at RMB 18,470 per tonne, with the average prices between RMB 18,450 per tonne and RMB 18,490 per tonne. The spot contract price is expected to be traded at a premium price of RMB 0 to RMB 40 per tonne. On the other hand, as per the data uploaded by the Shanghai Metals Market (SMM), a hike of RMB 240 per tonne was recorded Y-o-Y from RMB 18,230 per tonne on August 15th 2022 . The prices as of today have grown in all the provinces, with the highest in Foshan of RMB 130 per tonne to peg at RMB 18,470 per tonne. On the same day, the prices in Gongyi and Chongqing have gained RMB 110 per tonne to reside at RMB 18,450 per tonne and RMB 18,470 per tonne. In Wuxi, Hangzhou and Tianjin, the domestic...
Beijing Easpring, a Chinese manufacturer of battery cathodes, is currently in the process of constructing a production plant for ternary cathode active material in southeast Finland. This plant will mainly produce considerable amounts of nickel-cobalt-manganese (NCM) 811 and nickel-cobalt-aluminium (NCA). The project is being developed in partnership with Finnish Battery Chemicals, a wholly-owned subsidiary of Finnish Minerals. Together, they will create a joint venture called Easpring Finland New Materials to operate the project, with Easpring holding 70% ownership and Finnish Battery Chemicals holding 30%. The plant will have a capacity of 60,000 tonnes per year for the generation of nickel-cobalt-manganese (NCM) 811 and nickel-cobalt-aluminium (NCA), and its design will allow for the...
Bhagwati Sai Metal Alloys has established a state-of-the-art aluminium extrusion plant, the first of its kind in the Northeast region, aimed at exporting and supplying high-quality aluminium extrusion profiles in different alloys to cater to the diverse needs of various industries. AL CircleBiz announces the joining of this esteemed company with great hopes and is optimistic about its growth beyond the regional boundaries through the virtual B2B platform that it provides. The plant is equipped with advanced manufacturing facilities , including extrusion presses and allied equipment, and a computerised tool room to ensure efficient and high-quality production. The company's technical expertise and engineering proficiency enable it to develop innovative products that meet customer-specific...
In a mission to imitate global green initiatives by metro networks, Kolkata Railways is about to introduce a steel-encased aluminium third rail system replacing the older pure-steel version. This will make the entire metro chain much more sustainable, reducing carbon emissions to a great extent. International metro layouts in London, Moscow, Munich, Berlin, Istanbul and Singapore all have steel-encased aluminium rail systems, and Kolkata is keen on following its technological peers. This high-end and innovative initiative is underway to offer a range of benefits, particularly by enhancing the frequency of trains during peak hours. This development will not only improve the efficiency of the Metro Railway but is also expected to result in a substantial annual reduction of INR 1 crore in...
Fody Intl Imp & Exp Co., Limited, based in Foshan, China, which is also known as the hometown of aluminium and stainless steel, serves as a full-service trading firm; it specialises in the whole supply chain for the aluminium profile factory and SS tube mill industries, from raw materials to equipment and consumables, as well as SS coil, aluminium coil, and replacement parts. Fody Intl has been successfully onboarded by AL CircleBiz, the world's first global marketplace, bringing millions of buyers and sellers along the aluminium value chain. The products offered by Fody Intl include: Aluminium Profile Window and Door Processing CNC Equipment Container Liner Stem Shim for Aluminium Profile Extrusion Press Heat Shrink Plastic Film Aluminium Profile Packing Machine Aluminium Billet Cutting...
Hind Aluminium Industries Limited, a manufacturer of aluminium & alloy conductors and aluminium wire rods, reported net sales of INR 0.38 crore in the June quarter versus INR 0.33 crore a quarter ago and INR 1 crore a year earlier. At the end of FY2023, Hind Aluminium’s net sales amounted to INR 2.38 crore . Net profit stood at INR 2.95 crore in the said quarter, registering a year-on-year hike of 13.03 per cent, from INR 2.61 crore, showed Hind Aluminium’s quarterly results. For the March quarter of FY2024, Hind Aluminium posted a loss of INR 10.65 crore. EBITDA stood at INR 4.52 crore in the June quarter of FY2024, showcasing an increase of 3.43 per cent from INR 4.37 crore in FY2023. In the March quarter, Hind’s EBITDA stood negative at INR 12.91 crore Hind Aluminium’s Equity per Share...
China's domestic aluminium production for July 2023 surged to a staggering 3.568 million tonnes, registering an impressive 1.95 per cent year-on-year growth. This monumental achievement was underscored by the sector's average daily output, which escalated by over 3,000 tonnes month-on-month to a robust 115,100 tonnes. Notably, the year-to-date figures tell a compelling story of steady expansion, with total domestic aluminium production reaching 23.676 million tonnes, marking a 2.7 per cent year-on-year cumulative increase. July witnessed a minor ebb and flow in the molten aluminium ratio, a metric underlining industry health. Bolstered by increased downstream capacity, certain entities observed a shift from ingots to molten aluminium, propelling the ratio upwards by 0.6 percentage points...
DFV, an Italian company that paints wood-effect aluminium extrusions and laminates, is extending its footprint in Brazil by constructing a second production in Içara, Santa Catarina. The new entity will concentrate on the market for high-end wood-effect finishes and RAL paints (an international colour system used primarily in industry and architecture to standardise and identify particular colours). The plant will be constructed on an 8 thousand m 2 plot of land, with plans to expand by another 4 thousand m 2 until 2027. The site was selected strategically for its proximity to aluminium profile suppliers and its advantageous location on the banks of the BR-101, which provides access to numerous towns and regions around the nation. DFV intends to generate 64 direct and 173 indirect jobs,...
CORSAIR, a leading global developer and manufacturer of high-performance gaming, multimedia production, and PC enthusiast gear and technology, introduces the HS80 Max wireless headset, which is mainly made of aluminium. The HS80 MAX is a multi-platform gaming headset that supports Bluetooth and 2.4G wireless connectivity, permitting adaptive networking between platforms and consoles. With the click of a button, all gadgets could be linked, without a hitch, switching between 2.4GHz and Bluetooth-connected devices. The headset has a battery backup of up to 130 hours (no RGB) when connected through Bluetooth or up to 65 hours (no RGB) when using a 2.4GHz wireless dongle. When put to charge, it will take 3 hours to fully charge. The HS80 Max range retains all of its most significant features,...
AddUp FormUp 350 machines are compatible with Constellium's Aheadd CP1 Aluminium Alloy, as the additive manufacturing company announced in a recent advancement. Constellium's aluminium alloy has far more precise machining and performance conduct than the conventionally used AS7 and AS10 grades of aluminium alloy. Constellium's Aheadd CP1 Aluminium Alloy has higher manufacturing abilities coupled with better heat-resisting capacity than the traditional alloys used in 3D printing. The company is positive that two different alloys of aluminium control the present additive manufacturing market, the AS7 and the AS10 grades. These alloys have aluminium, magnesium and silicon combinations, mainly used in the foundry industry. Whereas, Constellium provides an amalgamation of aluminium, iron and...
National Aluminium Company Limited (NALCO), a Schedule ‘A’ Navratna CPSE, reported last week that its quarterly profit for Q1 FY2023-24 recorded a 40 per cent fall, attributed to sluggish global aluminium prices and mediocre demand. NALCO said that it earned a consolidated profit of INR 3.34 billion ($40.34 million) in the first quarter ended June 30, 2023, compared to INR 5.58 billion during the corresponding period of the last year. NALCO’s revenue from the aluminium business registered a decline of 18 per cent and that from chemicals division dropped by 2.7 per cent. As per the report, NALCO’s overall revenue posted a fall of 16 per cent year-on-year. NALCO also highlighted that its revenue from operations dwindled by 16.26 per cent year-on-year from INR 37.95 billion to INR 31.78...
Pembleton Motor Company is a small but growing business based in Bayton, Worcestershire. The company's latest creation is the Pembleton T24, a hand-built vintage-style sports automobile weighing around 361kg overall due to aluminium panels stretched over a tubular steel frame. The T24 is handcrafted in small batches by a highly experienced team in Worcestershire. It has an air-cooled, four-stroke, 853cc twin engine and an independent suspension system with fully adjustable damping. The bike engine in the T24 powers the front wheels through a four-speed, dog-leg transaxle gearbox derived from a Citroen 2CV, with the lever protruding from the T24's dash. The gearshift is a delight to use once you get used to it, and changing gear feels like an actual event. The steering and braking feel are...
Automobile parts manufacturer Endurance Technologies has declared Q1 FY2023-24 revenue of INR 2,467 crore after analysing the company's finances. There has been an influx of 16 per cent in comparison to INR 2,118 crore accumulated one year back. The EBITDA arrived at INR 338 crore with a margin of 13.7 per cent, which is more than INR 244 crore with an 11.5 per cent margin experienced last year. The company claims to have invested INR 72 crore in CAPEX for added propulsion in creating aluminium alloy wheels, brake assemblies, aluminium casting and suspensions, machining and BMS line in India. Whereas, INR 90 crore or €10.1 million was allotted for solar panel installation and product line expansion in the company's European manufacturing site, where it has to serve car giants like...
In early August, the Indian Institute of Technology Kharagpur inaugurated a programme on artificial intelligence (AI) to educate students about using technology in the manufacturing industry, including aluminium. The programme will be for three months, with classes only on weekends. Teachers from the computer science, electronics, electrical, and math departments will conduct the classes, according to the AI for Interdisciplinary Cyber-Physical Systems at IIT-Khargpur. The programme: ‘Hands-on AI for the real-world Applications’ will also include practical instruction from TCS scientists, business professionals, and IIT researchers. Artificial intelligence has become a sheer need in the aluminium industry to boost production, improve quality, reduce carbon emissions and achieve...
The Shanghai Metals Market on August 14 recorded a profound plunge of RMB 170 per tonne to rest at RMB 18,380 per tonne, with average aluminium ingot prices hovering between RMB 18,360 per tonne and RMB 18,400 per tonne. The SMM A00 aluminium ingot price historical data indicates there has been a year-on-year increase of RMB 150 per tonne or 0.82 per cent in aluminium prices if we consider the numbers on August 15, last year. The eight quintessential production zones in China all have witnessed a crunch in aluminium prices, with the highest slump marked in Foshan and Chongqing, where the price fell by RMB 180 per tonne to finally park at RMB 18,340 per tonne and RMB 18,360 per tonne, respectively. In Hangzhou, the aluminium ingot price has dropped by RMB 170 per tonne to officially settle...
LME aluminium opened at US$2,197 per tonne last Friday, with its high and low at US$2,206 per tonne and US$2,166 per tonne, respectively, before closing at US$2,178.5 per tonne, a decrease of US$25.5 per tonne or 1.16 per cent from the previous trading day. On Friday, August 11, the London Metal Exchange (LME) recorded a drop of US$36 per tonne or 1.66 per cent and US$34.5 per tonne or 1.59 per cent to close at US$2,125 per tonne and US$2,127 per tonne. The 3-month bid price and 3-month offer price also slipped by US$35 per tonne or 1.58 per cent to settle at US$2,177 per tonne and US$2,178 per tonne. December 24 bid price and December 24 offer price slumped by US$31 per tonne to halt at US$2,342 per tonne and US$2,347 per tonne. LME aluminium opening stock came in at 493825 tonnes. Live...
The downstream aluminium segment witnessed variable production this week, with Aparna Enterprises planning to invest INR 150 crores in FY24 to expand operations and INR 50 crores in tile, RMC, and aluminium. The move reflects the company's commitment to meeting India's infrastructure needs. Hindalco Industries Limited reported a net profit of INR 2,454 crore in Q1 FY2023-24, up 1.75% from the previous quarter. However, compared to the same quarter last year, net profit saw a decrease of 40.42%. Despite a decline in revenue from operations, Hindalco's net profit still grew sequentially in Q1. The revenue was INR 52,991 crore, down 5.13% from Q4 FY2023. This decrease was mainly due to the downstream aluminium business. Novelis Inc.'s Q1 FY2024 financial report showed a 19.61% decline in net...
This week the end-user sector witnessed a lot of significant events. To begin with, Aluflexpack, a Swiss-based inventor and producer of premium aluminium-based flexible packaging systems, stated that it is reaching the completion of a €70 million ($77 million) investment in expanding and modernising its manufacturing site in Drniš, southern Croatia. Hindalco Industries Limited, one of India's largest aluminium manufacturers and the world's most significant flat-rolled products player, announced an alliance with Texmaco Rail & Engineering Ltd., a specialised engineering firm, to develop and manufacture aluminium railway waggons and coaches. Chinese engineers developed an autonomous robotic car with reflective aluminium plates for cleaning, repairing, and replacing equipment on the...
