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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The primary aluminium sector has witnessed progressive initiatives this week, with Aluminium Bahrain B.S.C. (Alba) hosting a drive to commission the Forced Cooling Network (F.C.N.) Project at Potlines 4 and 5, allowing the first aluminium smelter in the Middle East to augment production capacity by approximately 17,000 tonnes per annum. Technology is inspiring each and every aluminium industry lead, as this week we have found BALCO installing various high-end digital solutions to guarantee business excellence, from smart analytics for decision-making at the strategic business unit (SBU) level to real-time equipment monitoring at shop floors. Alcoa Corporation has published its full-year 2022 growth index, where they’ve pointed out that the company has achieved a 2.5% Y-o-Y revenue...
On January 20, ALRO S.A., one of the biggest vertically integrated aluminium producers in Europe, published the Trading Update Report for Q4 2022 that showcases prime data on the economic environment of ALRO Group's key performance indicators for the quarter ending on 31 December 2022 ("Q4 2022"), based on the production capability. The Preliminary Financial Results for the 31st December timestamp will be released on Monday, 27 February 2023, and the company associates will host the Financial Results Conference Call on Monday, 27 March 2023. ALRO is a sister concern of Vimetco PLC, a vertically-integrated primary and processed aluminium producer renowned worldwide. ALRO falls among the biggest vertically integrated aluminium producers in Europe, with an annual capacity of 265,000 tonnes...
On Wednesday, January 18, Alcoa Corporation announced its fourth quarter and full-year 2022 results, reporting a strong balance sheet. The organization worked hard to combat challenging market conditions throughout the year, like volatile alumina and aluminium prices and energy supply shortage. In 2022, Alcoa generated revenue of $12,451 million, up by 2.46 per cent from $12,152 million in 2021, driven by higher alumina and aluminium prices and higher premiums for value-added products. However, the revenue in Q4 stood 6.59 per cent lower at $2,663 million than $2,851 million during the same period last year. Alcoa’s adjusted net income was just a reverse case. In the entire year, it decreased by 31.38 per cent Y-o-Y from $1,297 million or $6.83 per share to $890 million or 4.83 per share;...
Fenesta, a subsidiary of the DCM Shriram Group, has announced the introduction of a retail outlet in Anantnag, Kashmir. The new store, named Faiz Enterprises, would be strategically placed at KP Road, Khanabal, so that it can provide state-of-the-earth uPVC windows and doors, aluminium windows and doors and internal or designer doors to the Kashmiri customers. Commemorating the launch of this new outlet, the Business Head of Fenesta, Saket Jain, exclaimed: “Our firm commitment towards our customers, together with our excellent product portfolio with diverse options, have escalated our growth. At Fenesta, we strive to use innovation and modern designs to offer maximum customer satisfaction.” The introduction of a new outlet in the northern part of India would help in the expansion of...
China’s aluminium billet inventories recorded a hike on Thursday, January 19, marking the fourth consecutive week of rise. According to the Shanghai Metals Market data, the inventories accumulated 37,200 tonnes from the previous week to reach 131,900 tonnes across five major consumption areas. Foshan saw the highest growth over a week, driven by high shipments from southwest China. Inventory in east China also maintained seasonal accumulation. Slow consumption among extruders due to the shutdown of small and medium-sized plants for the CNY holiday also contributed to the billet inventory hike, stated SMM. Going ahead, aluminium billet inventories in east and south China are estimated to climb further. To know the current status of aluminium billet inventories in more details, refer to the...
On January 18, Hammerer Aluminium Industries (HAI) was awarded the Performance Standard certification by Aluminium Stewardship Initiative (ASI) for the company's extrusion facility at the Chisineu-Cris site located in Romania. This certification has been preceded by the company-owned foundries getting ASI attestations in 2020 and the Extrusion & Processing in Ranshofen being awarded the ASI Performance Standard in 2022. The HAI Group has also publicised that it has embarked on a genuine mission of reducing carbon emissions all throughout its operational units. The ASI certification of the four extrusion lines in Chisineu-Cris is another milestone for the company, as was declared by the Stewardship board itself. The COO of HAI, Markus Schober, underlined the essential points in his...
The renowned aluminium producer in India, Bharat Aluminium Company Limited (BALCO), is aggressively investing and extending the application of smart technology inside its production systems. The organisation has implemented several high-end digital solutions to guarantee business excellence, from smart analytics for decision-making at the strategic business unit (SBU) level to real-time equipment monitoring at shopfloors. The business has updated its oil monitoring procedure using cutting-edge business intelligence technologies to monitor oil recovery and consumption at the equipment and SBU levels. This will assist BALCO in maximising and lowering the amount of oil used in specialist vehicles and large machinery. Strategic business units will be able to optimize the use of new oil and...
Vedanta Limited has slashed the prices of aluminium products from January 20 following a surge on the previous day. The company has cut its aluminium wire rod price by INR 9,250 per tonne or 3.5 per cent to INR 245,500-253,000 per tonne as of January 20. On January 19, the price stood at INR 254,750-262,250 per tonne, seeing an escalation by INR 11,750 per tonne from 243,000-250,500 per tonne on January 18. Vedanta’s aluminium billet price has also been reduced by INR 9,250 per tonne to INR 247,000 per tonne on January 20 after a hike of INR 11,750 per tonne on the previous day to INR 256,250 per tonne from INR 244,500 per tonne. Aluminium ingot price is not spared but cut by INR 9,250 per tonne too on January 20. Hence, the current price has come in at INR 238,000-268,500 per tonne...
While residing in the third quarter, Allspring Global Investments Holdings LLC acquired a new stake in Ardagh Metal Packaging S.A. (AMP), as was revealed in the latest filing with the Securities and Exchange Commission. Allspring bought around 751,511 shares of AMP, having a market value of US$3,637,000. Nearing the end of the most current quarter, the company had taken over almost 0.12% of AMP. Many other hedge funds and institutional investors have currently increased or curtailed their stakes in Ardagh Metal Packaging. During the third quarter, Balentine LLC also bought a new position in shares of AMP, worth US$107,000. Also, during the same time, it was witnessed that Janney Montgomery Scott LLC augmented its stake in shares of AMP by a hefty 3.6%. At this moment, Janney Montgomery...
According to Mubadala Investment Company PJSC, the biggest shareholders of Emirates Global Aluminium (EGA), stated that the Middle East’s largest aluminium producer, may sell shares to the public as soon as the third quarter of 2023. On the sidelines of the World Economic Forum’s annual meeting in Davos, Khaldoon Khalifa Al Mubarak, the CEO of Mubadala Investment, told Bloomberg, “It will happen maybe this year. We’ll see how markets react. If it’s appropriate and makes sense for the shareholders and us, we might go in the third or fourth quarter.” For some years, EGA, owned equally by Mubadala and the Investment Corporation of Dubai, has been considering an initial public offering. However, according to Bloomberg, it was planning to hire three US banks as lead underwriters for the deal...
LME aluminium opened at US$2,638 per tonne on Thursday and closed at US$2,583.5 per tonne, a drop of US$54.5 per tonne or 2.07 per cent. On January 19, Thursday, the LME aluminium cash bid price plummeted by US$96 per tonne or 3.64 per cent, and the LME aluminium official settlement price stooped down by US$95 per tonne or 3.6 per cent, closing at US$2,539 per tonne and US$2,541 per tonne. The market will be under immense fluctuations as the Russia-Ukraine war has been going on for almost a year now, and Europe's oil/energy crisis is on the verge of evoking a nationwide recession. The 3-month bid price recorded a plunge of US$89.50 per tonne or 3.36 per cent, officially resting at US$2,570.50 per tonne, and the 3-month offer price saw a decline of US$91 per tonne or 3.42 per cent to halt...
On January 19, 2023, the CEO of Vedanta Aluminium, Rahul Sharma, said that the weight of a car is reduced by one kilogramme for every kilogramme of aluminium utilised in the vehicle. He continued that this correlates to an improvement in the driving range, meaning that 100 kg saved on any electric car might yield an additional 10-15 per cent increase in range, which will be crucial for promoting higher EV adoption among consumers. The CEO predicted that the transition to a net zero economy would be metal-intensive as nations quickly adopt clean technologies in response to the immediate need for urgent climate action and sustainable lifestyles. One of the essential metals that will facilitate this transformation and meet the growing need for sustainable systems, eco-friendly technologies,...
The Federation of Indian Chambers of Commerce & Industry (Ficci), a non-governmental trade association and advocacy group, has reportedly figured out the necessity of higher import duty on aluminium and aluminium products. According to a report, the association has sought at least 12.5 per cent of import duty on the metal and its products in the upcoming budget for FY2023-24. The reason it has stated for the hike is a gradual surge in subpar aluminium imports into India from the United States, the United Kingdom, Malaysia, and the Middle East. According to Ficci, the move will help contain foreign aluminium product dumping and encourage domestic manufacturing and recycling. The present import duty on aluminium and aluminium products is 10 per cent, and more than 60 per cent of India’s...
According to the recent data published by the General Administration of Customs released on Wednesday, January 18, China imported 2.39 million tonnes of unwrought aluminium and products, including primary metal and unwrought and alloyed aluminium. That reflected a year-on-year downfall of 25.6 per cent as domestic aluminium production increased to a record high and COVID-19 restrictions weighed on consumption. In 2021, China’s aluminium imports stood at 3.2 million tonnes, a record volume amid domestic supply disruptions due to transportation hazards for COVID restrictions. The downfall in 2022 was contributed by weaker demands, particularly from the construction, transportation and packaging sectors. Increased primary aluminium output to a record at 40.21 million tonnes due to relaxed...
On January 10, 2023, Sierra Mineral Holdings 1 Limited, a subsidiary of Vimetco N.V., issued a memo stating that it would temporarily suspend all operations in Sierra Leone. The memo states that the suspension is due to the lack of bauxite sales on the global market, which has had a detrimental effect on the company's cash flow and capacity to continue with business as usual. However, the company has requested that all junior employees stay home during this time and be paid in full for January 2023. Sierra Mineral Holdings 1 Limited (SHML) is a subsidiary of Vimetco Holdings, a global aluminium conglomerate. SHML has been supplying bauxite to the global market. The company owns a mining lease covering 321.7 square kilometres in the same belt as the well-known Guinea bauxite deposit. They...
Hindalco Industries Limited has escalated by INR 6,250 per tonne or 2.6 per cent, with effect from Thursday, January 19. This has brought the company’s aluminium ingot price to INR 246,250 per tonne versus INR 240,000 per tonne on January 18. Hindalco’s aluminium ingot price on January 18 witnessed a decline of INR 2,500 per tonne or 1.03 per cent from INR 242,500 per tonne on the previous day. Hindalco’s aluminium wire rod price has come in at INR 257,350 per tonne on January 19, compared to INR 251,100 per tonne on January 18. The price sees a hike today after shrinking by INR 2,500 per tonne from INR 253,600 per tonne on January 17. With the latest hike, aluminium billets price sums at INR 260,350 per tonne, following a downfall on the previous day from INR 256,600 per tonne to INR...
The car manufacturing process could be completed with much more reduced cost, eco-friendly, and rapid with new aluminium component production state-of-art technology. Typically, aluminium is essential to reducing a car's weight, which also aids in lowering fuel consumption. The modern vehicle contains significant amounts of aluminium, and the use of metal is increasing. The casting technology was developed by the Norwegian aluminium giant Hydro and is performed under vacuum conditions. The ability to cast aluminium bolts with small diameters and excellent surface qualities has allowed the metal to be employed directly in producing parts like automotive suspension components. Cast material reduces production waste while lowering costs, improving efficiency, and improving the environment...
The three-month LME aluminium opened at US$2,618.50 per tonne on Wednesday, January 18, and closed at US$2,611.50 per tonne, a decrease of US$7 per tonne or 0.27 per cent. On the same day, the LME aluminium cash bid price and the LME aluminium official settlement price surged by US$73 per tonne and US$73.50 per tonne, following a slump on the previous day to stand at U$2,635 per tonne and US$2,636 per tonne. The 3-month bid price skyrocketed by US$74 per tonne to settle at US$2,660 per tonne, and the 3-month offer price ascended by US$75 per tonne to rest at US$2,662 per tonne. December 24 bid price and December 24 offer price stopped at US$2,780 per tonne and US$2,785 per tonne, recording an increase of US$57 per tonne from US$2,723 per tonne and US$2,728 per tonne. LME aluminium opening...
