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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The Cannock-based family-owned architectural fabrication business, Weldall, supporting the construction industry by offering bespoke welding and fabricated products in aluminium, stainless steel and mild steel, serving the entire UK, is set to increase its efficiency and production capabilities. It works primarily with windows and cladding firms in London, as well as regionally in Birmingham and Manchester. Weldall has acquired fibre laser cutting equipment with the aid of an asset loan package worth more than £500,000 from Lloyds Bank to meet growing customer demand. The cutting-edge Bystronic BySmart Fiber machine will increase the speed threefold at which the company can process metal. The machine includes a 10-kilowatt laser and can cut metals up to 30 mm thick, including aluminium,...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium across eight major consumption areas, including SHFE warrants, stood further down over the weekend by 22,000 tonnes as of Monday, April 3. Thus, SMM data showed the inventories totalled 1.066 million tonnes on April 3 compared to 1.088 million tonnes on Thursday, March 30. On a week-on-week calculation, China’s aluminium ingot inventories on Monday shrank by 44,000 tonnes from 1.11 million tonnes, but up 10,000 tonnes a year ago. As expected, the inventory maintained a downward trend, with smelters raising the share of molten aluminium output, resulting in lesser ingot output. To know more about the current status of primary aluminium ingot across China, refer to the chart below: Wuxi recorded the...
After a space shuttle re-enters the atmosphere, the most crucial part is the landing, where an immense force is exerted on the ground resulting in the crumpling of the device's legs. ISRO approached the Department of Mechanical Engineering and Applied Mechanics of Visvesvaraya National Institute of Technology (VNIT) to study this impact and develop an aluminium structure that can handle the pressure. The new structure would be robust enough to endure the energy of the impact, stabilise the landing and ensure minimal damage. The project needs to be submitted within the next two years as per the doctrine of the Indian Space Research Organisation (ISRO) says. Previously, ISRO had initiated the Yukti Sanchita scheme through which ingenious institutions were invited to participate in...
Ere Perez Natural Cosmetics, the Australian beauty brand, has unveiled the first 100 per cent aluminium eco-refillable compact, free from all materials that are difficult to recycle, such as glues, magnets, mirrors, paint, labels, closures, and plastics. Customers receive the Eco-Makeup Wheel , a refillable single-material compact case made only from aluminium, an endlessly recyclable material when buying either the Corn Setting Powder or the Rice Powder Bronzer. "The Makeup-Wheel Refill Case is a beautiful, durable and refillable statement piece for a lifetime of enjoying Ere Perez natural & cruelty free pressed powders," said Ere Perez Natural Cosmetics. The product is refillable, so customers can buy more when they run out. Simply remove the lid, unscrew the ring, put the refill in the...
Health-Ade has reportedly lent a new packaging to its high-quality fermented Kombucha tea by embracing aluminium cans. To promote the flagship drink in new packaging, the Los Angeles-based brewing firm has entered into a two-season partnership with the L.A. Dodgers baseball team. Kombucha tea in new 11.5-ounce aluminium cans will be available in select flavours in Dodgers Stadium and retailers worldwide. “There’s a ton of overlap with the L.A. kombucha consumers and the L.A. Dodgers,” Health-Ade CMO Charlotte Mostaed told Marketing Daily. According to a survey, out of 600 non-kombucha drinkers described as health-and-wellness-minded, 55 per cent were ready to choose Health-Ade over soda and 30.5 per cent over alcohol. Research also found that Health-Ade’s kombucha tea could have had...
The global aluminium value chain has witnessed the month with several activities. The impacts of the geopolitical crisis on the aluminium industry sustain as of now, and the energy price effect continues to challenge the industry. AlCircle’s latest industry-focused report, “Global Aluminium Industry Outlook 2023” , reveals that high inflation and the economic slowdown will keep the global aluminium demand gloomy, at least during the first half of 2023. However, the resumption of the Chinese economy is showing a positive trend, but its impact may be reflected in the second half of the year. Here are the top stories from each segment for the month: As part of a joint venture, Gränges and Shandong Innovation Metal (group) Technology are on the go for constructing a recycling and casting...
On Monday, April 3, Vedanta Limited, India’s leading multinational mining company, announced that its aluminium and high refined metal production reached record levels in the fiscal year of 2022-23 ended March 31. In a regulatory filing, the company said it produced the highest-ever amount of aluminium at 2.291 million tonnes in FY23, compared with 2.268 million tonnes in the earlier financial year . That reflected a year-on-year increase of 1.01 per cent, attributed to Jharsuguda ramp-up. In the fourth quarter of FY23, Vedanta’s aluminium production amounted to 574,000 tonnes, also up by 1 per cent from 566,000 tonnes in the third quarter. But compared to the same period of the previous year, Vedanta posted a subdued performance as the aluminium output in Q4 FY2022 was at 572,000 tonnes....
On Tuesday, April 4, the average alumina spot price slumped by RMB 12 per tonne to halt at RMB 2,921 per tonne. The prices in Henan and Shanxi have dropped by RMB 20 per tonne and RMB 15 per tonne to come in at RMB 2,960 per tonne and RMB 2,955 per tonne. In other provinces like Shandong and Guangxi, the alumina spot prices have slipped by RMB 5 per tonne to peg at RMB 2,920 per tonne and RMB 2,815 per tonne. China’s A00 aluminium ingot price has fallen by RMB 20 per tonne, settling at RMB 18,590 per tonne. The average prices are expected to range between RMB 18,570 per tonne and RMB 18,610 per tonne. The spot contract price is expected to be traded at a discount price of RMB 60 to RMB 20 per tonne. As per the SMM data, the aluminium ingot price has fallen in all the provinces except in...
According to Vietnam's latest geological and mineral strategy, the country is eyeing to bolster governance over the use of mineral resources and strengthen investment in mining technology while establishing a state-of-art mining sector that adheres to environmental protection. In accordance with the national strategy, Vietnam plans to explore a variety of minerals by 2045, including bauxite, among others like coal, uranium, titanium-zircon, rare earth, apatite, copper, nickel and tin while simultaneously exploiting and preserving strategic, essential, and large-scale minerals. As part of the plan approved recently by Deputy Prime Minister Tran Hong Ha, Vietnam aims to map 85 per cent of the country's geological and mineral resources by 2030. He said that Vietnam would develop technology,...
LME aluminium opened at US$2,415 per tonne on Monday, with its high and low at US$2,434 per tonne and US$2,385 per tonne respectively before closing at US$2,389 per tonne, a drop of US$28 per tonne or 1.16 per cent. On April 3, Monday, the LME aluminium cash bid price and the LME aluminium official settlement price heightened by US$44 per tonne or 1.88 per cent to close at US$2,380 per tonne and US$2,380.50 per tonne. The LME aluminium price has been maintaining a stability nearing the end of March and a similar stance is visible in the beginning of April. The 3-month bid price skipped upwards by US$54 per tonne or 2.27 per cent, stopping at US$2,429 per tonne and the 3-month offer price soared by US$54.50 per tonne or 2.29 per cent halting at US$2,430 per tonne. December 24 bid price and...
ARK Investment Management LLC has decreased its stake by 11 per cent during the fourth quarter (Q4) in Kaiser Aluminum, based on the analysis of the most recent SEC filing. After selling 3,257 shares during the period, the company now owned 26,251 shares of the industrial products company's stock. As of its most recent SEC disclosure, ARK Investment Management LLC held approximately 0.16 per cent of Kaiser Aluminum for $1,994,000. Other institutional investors have also purchased and sold Kaiser Aluminium shares lately. In the first quarter, JPMorgan Chase & Co. increased its stake in Kaiser Aluminum by 18.4%. After acquiring an additional 3,108 shares over the period, JPMorgan Chase & Co. now owns 19,988 shares of the industrial goods company's stock, valued at $1,882,000. During the...
Titans of CNC, the manufacturer and CNC educational institute, created an isogrid-style skateboard using a 50-pound slab of 6061 aluminium for aerospace-grade ollies. An isogrid is a solid metal construction with one face on which triangular sections have been machined away, leaving a thin skin on one side and a triangular lattice on the other. The technique, developed by McDonnell Douglas, produces sturdy, stiff, and lightweight parts, but it is too costly and impractical for mass production. The resident machinist, Barry Setzer, measured a typical laminated skateboard deck, entered the measurements into Solidworks, and then calculated how much material would need to be removed from the aluminium component to weigh the same as the 3.4-pound laminated one. Setzer next used high-end...
The global mining and metal giant Rio Tinto has released its 2022 Taxes and Royalties Paid Report, showing that $10.8 billion was paid as taxes and royalties. This is the third-highest annual global taxes and royalties paid by Rio Tinto since it published its first Annual Taxes Paid report for 2010. However, this compares to $13.3 billion in 2021, during a period of exceptionally high commodity prices. About half of the company's assets are located in Australia, including bauxite mining, alumina refinery and aluminium smelting, where taxes and royalties totalled $8.5 billion (A$12.3 billion) in 2022, down from $11.1 billion (A$14.8 billion) in 2021. In addition to Canada ($718 million), where also Rio Tinto has aluminium smelters, Chile ($678 million), Mongolia ($294 million), and the...
According to the US Census Bureau data, the United States aluminium scrap exports to Malaysia initiated the new year with an increase of 3,400 tonnes or 12.45 per cent month-on-month. In January 2023, the exports grew to 30,700 tonnes, following a plunge from 33,400 tonnes to 27,300 tonnes in the previous month. On a year-on-year calculation, the United States aluminium scrap exports to Malaysia jumped in January 2023 from 3,400 tonnes. Last year in January, India was the highest importer of aluminium scrap from the United States, hauling 11,300 tonnes. But this January, Malaysia took over the position exceeding India’s import volume. In January 2023, India imported 29,300 tonnes of aluminium scrap from the United States, up by 159 per cent from a year ago. In January 2023, the United...
With more focus on digital transformation and web exposure, cyber security becomes a natural aspect for companies to focus on. Globally companies spend millions of dollars to ensure the security of their web properties. Often time is of the essence to reduce damage in case of breaches. Recently Microsoft has unveiled its AI-based cyber security tool leveraging OpenAI, which will help companies identify, report and take corrective action in case of cyber security breaches faster than ever before. The tool's name is Copilot, and it uses natural language processing (NLP) to analyze data and identify potential threats. Copilot is a chat tool enabling users to communicate with AI and get insights into potential cybersecurity breaches. It can also advise on possible corrective actions....
Aluminium Stewardship Initiative (ASI) announced the joining of Istanbul Ferrous and Non-Ferrous Metals Exporters (İDDMİB) as its new Associations member. The General Secretariat of the Istanbul Mineral and Metals Exporters' Association (İMMİB) established the Istanbul Ferrous and Non-Ferrous Metals Exporters' Association (İDDMİB) in 1986. Incorporated in 1986, İDDMİB has 8000 subscribers as of 2022. Products made of aluminium, steel, copper, castings, hardware, metal kitchen and houseware, armatures, and building materials are a few of the primary industries İDDMİB operates in. Turkish Aluminium is the largest industry within the Turkish Ferrous and Non-Ferrous Metals segment, with a 43 per cent share of total exports as of 2022. “Being a part of ASI is seen as a good opportunity to...
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Alumina production in Europe (inc. Russia) continued to fall during February 2023, marking the seventh consecutive month of decline. According to the International Aluminium Institute, Europe’s (inc. Russia) alumina output in the stated month stood at 492,000 tonnes, reflecting a month-on-month plunge of 4.84 per cent or 25,000 tonnes from 517,000 tonnes. In the previous month, the aluminium ore production in Europe (inc. Russia) amounted to 517,000 tonnes, registering a decrease of 34,000 tonnes or 6.17 per cent from 551,000 tonnes in December 2022. On a year-on-year calculation, alumina production in Europe (inc. Russia) during February 2023 slumped by 36.6 per cent from 776,000 tonnes, found IAI. The annual and monthly decline in Europe’s alumina output could be attributed to output...
Deep-tech recycling business Metastable Materials, which specialises in lithium-ion batteries, has received seed funding led by Surge, Sequoia Capital India, and Southeast Asia's quick scale-up programme. Deep-tech VC Speciale Invest, Theia Ventures, and other angel investors participated. Lithium-ion (Li-ion) batteries are used in millions of automobiles worldwide, and demand is growing fast daily. So, the US$4.6 billion Li-ion battery recycling market is anticipated to increase at least five times by 2030 as businesses look for an appropriate approach to manage Li-ion batteries that have reached the end of their useful lives. Additionally, many countries, including the EU, want to enact legislation to ensure that batteries can be recycled or reused after their useful lives. However,...
