The US September consumer confidence index plunged 6.7 points to 81.9, the lowest since 2014 and deteriorating across the board. The University of Michigan survey showed consumers' assessments of their current financial situation and that one year ahead both fell about 10 per cent, with high-price concerns continuing to brew. Inflation pressure showed no signs of easing. US Fed Governor Cook said AI demand growth, rising oil prices, and supply chain disruptions from Middle East conflicts would keep inflation under pressure, but gave no clear guidance on rate hikes. CME data showed the market-implied probability of a 25 bp rate hike in October had risen to 70.9 per cent, and the probability of a cumulative 50 bp hike by December reached 58.7 per cent. Tightening expectations strengthened...
Germany is on track to generate over 600,000 tonnes of solar PV waste by 2030, creating a major recovery opportunity for aluminium and silver. A new study by the Fraunhofer Centre for Silicon Photovoltaics (CSP) highlights the approximate raw-material value locked in the country’s installed solar fleet. At the same time, it identifies a key challenge of an efficient recovery of the trapped aluminium and silver. Germany had roughly 5.35 tonnes of PV modules installed by 2023, containing around 660,000 tonnes of aluminium and 3,900 tonnes of silver, with a combined value of about EUR 4.8 billion (USD 5.4 billion) at current prices. These figures have risen considerably since 2023 and would need to almost double by 2030 if Germany is to meet its solar deployment targets. However, turning...
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This week, there has been immense progress in the aluminium end-user sector. InBev has created the world's first beer in aluminium-glass cans, utilising AI for its marketing campaigns. Professor Debashis Chanda, with his team of scientists from the UCF NanoScience Technology Center, has discovered a plasmonic paint that uses the nanoscale structural arrangement of colourless materials, such as aluminium and aluminium oxides, to emit desired hues. This unique paint can be used in a minimal quantity to colour a massive product because of its extremely lightweight characteristics. Once commercially circulated, the paint will revolutionise the automobile, aviation and electric sectors. Swedish car brand Polestar claimed that it used low-carbon aluminium components for its electric vehicles,...
Last week, the downstream aluminium sector experienced a whiff of turmoil, with ARK Investment Management LLC curtailing its 11 per cent stake in Kaiser Aluminium during the fourth and last quarter of the year. Spanish brand Teknia acquired Swedish injection moulding specialist Svensk Tryckgjutning to augment the quality of their flagship magnesium or aluminium steering and chassis components. US-based Boose Aluminum Foundry witnessed a horrible fire last year, which made them eligible for a land development plan attested by the East Cocalico supervisors in 2023. On the bright side, the world is preparing for the 12th edition of the Aluminium Two Thousand Congress, one of the most awaited conferences for aluminium industry associates, which will be conducted from September 19 to September...
On Sunday, April 2, customers at the Whole Foods Market in Orlando were in for a surprise while performing their afternoon errands. The founder of Mananalu, Jason Momoa, unexpectedly entered the store while a member of the Mananalu team was setting up a demo station to give customers samples of their flavoured and pure water in aluminium bottles. The actor and activist seized control of the demonstration, distributing Mananalu's aluminium water bottles to delighted consumers in exchange for their autographs, pictures and embraces. Momoa frequently makes unexpected appearances in the Mananalu neighbourhood. As part of celebrating the collaboration with the airline in August 2022, a video showing him dressed as a Hawaiian Airlines flight attendant handing away Mananalu bottles on a flight...
Companies are doing their bit to move towards a sustainable environment, and in this journey, aluminium is considered the ultimate choice for most companies. From April 1, the Netherlands plans to include steel and aluminium beverage cans in its deposit return programme. On April 4, 2023, Alcoa stated that specific grades of non-metallurgical alumina will now be included in the company's low-carbon alumina brand EcoSource™. The celebrated designer Satyajit Vetoskar spoke to students at IIGJ in Mumbai about repurposing outdated materials in new goods and his recently launched jewellery line composed of gold and leftover airline aluminium. To get hybrid renewable power for its aluminium operations in Chhattisgarh, BALCO and Serentica Renewables India Private (SRIPL) inked a Power Delivery...
Hindalco, NALCO, and Vedanta have trimmed their aluminium ingot and aluminium products prices at the end of the week in response to the LME aluminium price fall over the past three days. However, at the beginning of the week, on April 4, Hindalco and Vedanta lifted their aluminium ingot prices to INR 225,750 per tonne and INR 227,750-256,250 per tonne, respectively, which closed the week lower at INR 218,500 per tonne and INR 220,500-249,000 per tonne. Hindalco’s aluminium wire rod and billets prices initiated the week on Tuesday, April 4, at INR 237,750 per tonne and INR 239,850 per tonne, respectively, and closed lower by INR 7,250 per tonne at INR 230,500 per tonne and INR 232,600 per tonne. Vedanta’s aluminium wire rod and billets prices stood at INR 236,250-243,750 per tonne and INR...
Hotpack Global, hailing from UAE, has declared its ambitions to construct the world's biggest sustainable packaging plant in Saudi Arabia. The unit will encompass an area of 2.4 million square feet, and the complete materialisation of the project would take seven years, that too with a wholesome investment of SAR1 billion. A memorandum of Understanding or MoU was forged between the concerned parties, allocating the investment through the Kingdom's Ministry of Investment and the Ministry of Industry. The agreement was finalised during the ceremony organised at Riyadh's Ministry of Investment headquarters. Among important personalities were the deputy minister of industry and minerals, the deputy minister of investment, the group managing director and CEO of Hotpack and other senior...
Samuel Abu Jinapor, the Minister for Lands and Natural Resources of Ghana, has invited the investor community to fund Ghana’s integrated aluminium industry. He has appealed to the investor community to consider Ghana’s stable democracy, steady economy, and resilient democratic institutions for investing. On behalf of the Ghanaian President Nana Addo Dankwa Akufo-Addo, Mr Jinapor said in a statement at the ongoing Fastmarkets Bauxite and Aluminium Conference on Wednesday, April 5, “Our commitment remains making Ghana the mining hub of Africa, and use mining as the impetus for sustainable development, and we will continue to engage relevant stakeholders for the benefit of the people of Ghana.” The minister at the conference highlighted the success of Ghana Bauxite Company (GBC), Ghana...
Press Metal Aluminium Holdings Bhd (Press Metal) has received an export order of aluminium ingots priced at RM110 million from Hong Kong's Daching Enterprises Ltd (Daching). The company has forged a five-year contract ensuring a similar export deal worth RM670 million with the latter. In a press release addressed to the audience, the Malaysia External Trade Development Corporation (MATRADE) explained how the contract was signed during a meeting held on April 4. The Minister of International Trade and Industry (MITI), Tengku Datuk Seri Zafrul Tengku Abdul Aziz, hosted the meeting and emphasised the Trade and Investment Mission he led. The director of Daching and chairman of Xiamen Xiashun Aluminium Foil Co Ltd, Simon Chan, illustrated how the group wishes to continue its product sourcing...
Creativity and sustainability are the new trend making waves in the fashion world. Fashion trends are constantly evolving, affected by various elements, including social movements, technical developments, and economic situations. One such change which is gaining traction very swiftly is using sustainable and environmentally friendly materials like aluminium to lessen the adverse environmental effects. People used to favour gold or silver jewellery, but as costs have increased, they increasingly turn to less expensive choices. Aluminium is one metal that is growing in popularity on the market. It has several lovely decorations. Everyone is drawn to these decorations because of their low cost. In place of pricey metals like gold and silver, aluminium jewellery is gaining popularity in...
The Swedish automotive brand, Polestar, strives to reduce its carbon footprint in all aspects of car manufacturing. It recently reported that it had successfully reduced relative CO 2 emissions in 2022 by 8 per cent compared to 2021. The manufacturer, which is part of the Chinese-owned Geely group, has set an ambitious goal of halving its car-making emissions by 2030, which they say they will achieve through increased traceability on risk materials and new partners engaged in business activities centred on what the company calls Polestar 0 technology (zero). Despite achieving a record 80 per cent global volume growth since 2021, translating into a total of 51,500 cars in 2022, the specialist EV maker can confirm it has reduced relative CO 2 emissions per car sold by 8 per cent compared to...
Alcoa Australia is determined to transform its 60-year-old operation in the Peel region to make it more environment-friendly. So, the company has decided to conduct a full environmental review of one of its alumina refineries and ecotourism upgrades. Alcoa vice-president operations Australia, Rob Bear, told at the Peel Regional Growth and Major Project Summit in Mandur a h on Tuesday, April 4, about the company’s plans to adopt a more sustainable approach towards mining. Mr Bear said Alcoa already called on the State and Commonwealth for a full environmental review of its proposed bauxite mining areas and Pinjarra Alumina Refinery where it planned to increase production. “Those plans are currently subject to the highest level of environmental assessment — a public environmental review,...
The "El Gato" Gateway aluminium sculptures were erected in 2021 and 2022 as "art-forward welcome signs" to the community. They are located at Los Gatos-Saratoga Road at the Highway 17 entry and Lark Avenue next to the North 40 development. The new structure is next to the North 40 development on Lark Avenue, in the motorway entrance and exit median. The words "Los Gatos" are emblazoned on the mountain that the beige cat is climbing. "The sculpture, designed by Seattle-based artist Matt Babcock, is the second of five "gateway" artworks to be installed at Los Gatos' most common entrances to welcome people into town and boost the local public art presence," said Maureen Javey, chair of the Los Gatos Arts and Culture Commission. The 5-1/2-foot-tall, 80-pound aluminium sculptures are the work...
A designer based in Norway, Lars Beller Fjetland, has handcrafted a bench inspired by the pasta shape for the aluminium giant Hydro. Bello! from Hydro has been designated for indoor and outdoor use since it has an extremely rigid structure. The best part about the furniture is that it has been created with 90 per cent recycled and 100 per cent recyclable aluminium. The Bello! is scheduled to be unveiled at Norway's annual Milan design week, Norwegian Presence. The bench will be available in neutral shades alongside bright blue and terracotta variations. The bench is comprised of extruded aluminium strands and is highly robust. Extrusion is a standard process in the aluminium industry where elongated aluminium profiles are produced by the administration of heat, which softens the metal...
LEER Group, North America’s largest manufacturer and supplier of fibreglass and aluminium truck caps, has reportedly completed the capacity expansion. To mark the start of the facility, LEER Group hosted a ribbon cutting ceremony on Wednesday, April 5. LEER Group, a business unit of J.B. Poindexter & Co. since 1987, has increased its production capacity in tandem with increasing business growth, especially in the Commercial and Fleet segments. Curt Cline, Vice President of Operations at JBPCO, said: “This facility opening couldn’t have come at a more opportune time – when lead times are extreme, it gives us the capacity to reduce delivery times to better meet the needs of our customers in today’s important Commercial segment.” “LEER Group’s Engineering and Advanced manufacturing teams...
According to the officials familiar with the government of India's decision-making team, it has been informed to us that in response to the EU's proposed carbon tax, which might disrupt over $8 billion worth of Indian metal exports to the EU, India is considering slapping retaliatory tariffs on exports from the EU. Exports of aluminium, steel and iron to nations outside the European Union will be subject to increased regulation beginning on October 1, 2023, as part of the EU's Carbon Border Adjustment Mechanism (CBAM), which is commonly termed carbon tax. From October 1, 2023, aluminium, iron and steel exports to European Union countries worldwide will face added scrutiny under the bloc's Carbon Border Adjustment Mechanism (CBAM), or carbon tax. From January 1 2026, suppliers must insert...
LME aluminium opened at US$2,342 per tonne on Thursday, with its high and low at US$2,367 per tonne and US$2,327 per tonne, respectively, before closing at US$2,340 per tonne, a drop of US$0.5 per tonne or 0.02 per cent. On Thursday, April 6, both LME aluminium cash bid price and LME aluminium official settlement price dipped by US$5.5 per tonne or 0.23 per cent to settle at US$2,300 per tonne and US$2,300.50 per tonne. 3-month bid price and 3-month offer price slipped by US$13 per tonne or 0.55 per cent and US$13.5 per tonne or 0.57 per cent to halt at US$2,340 per tonne and US$2,340.50 per tonne. December 24 bid price and December 24 offer price dropped by US$17 per tonne or 0.66 per cent to close at US$2,533 per tonne and US$2,538 per tonne. LME aluminium opening stock settled at...
A00 aluminium ingot price has grown by RMB 60 per tonne, officially closing at RMB 18,670 per tonne, as the Shanghai Metals Market recorded on April 7, Friday. The average prices are expected to range between RMB 18,650 per tonne and RMB 18,690 per tonne, with spot contracts trading at discount prices of RMB 50 per tonne and RMB 10 per tonne. Today the SMM aluminium price has halted at exactly the same price it flashed one week ago on March 31. The eight provinces in China more or less experienced augmented numbers today, with the aluminium price rising the highest in Shenyang by RMB 100 per tonne to officially rest at RMB 18,690 per tonne. In Tianjin, the price of aluminium measured growth of RMB 80 per tonne, resting at RMB 18,670 per tonne. The aluminium price in Wuxi has gained RMB 60...
A billet is one of the most widely used aluminium product forms globally. Billets are created directly through continuous casting or extrusion or indirectly through hot rolling an ingot or bloom. The billet is normally suitable for alloyed aluminium. As per the data, on Thursday, April 6, the aluminium billet inventories surged by 6,100 tonnes W-o-W to score at 164,500 tonnes. This week, there were 5,900 tonnes more billet arrivals in South China, which pressured local merchants to sell and reduced conversion margins. East China's demand decreased significantly, although local billet supplies did not move considerably since several warehouses stopped receiving shipments. The figure below provides further information on the current state of aluminium billet inventories in China: As per the...
