Hindalco Industries has terminated its proposed USD 125 million acquisition of US-based speciality alumina producer AluChem Companies after extended delays in closing the transaction. The decision ends a deal announced in June 2025, although Hindalco says its speciality alumina expansion strategy remains firmly in place. Hindalco Industries has called off its proposed acquisition of AluChem Companies Inc., bringing an end to its planned USD 125 million entry into the US-based speciality alumina producer. The Aditya Birla Group's metals flagship and AluChem have jointly decided to terminate the Equity Purchase Agreement (EPA) following prolonged delays in completing the transaction. According to Hindalco's regulatory filing, the delays were beyond the control of either party. "The proposed...
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...
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India's biggest aluminium manufacturing company and the world's most significant flat-rolled products player and recycler of aluminium, Hindalco Industries' Chairman Kumar Mangalam Birla, has been awarded the highest civilian honour of India, the Padma Award 2023 for his commendable contribution to the field of trade and industry. Kumar Mangalam Birla is also the Chairman of the American industrial aluminium company Novelis Inc. headquartered in Atlanta, Georgia, United States. His accomplishments are numerous in the business world. Many had believed the weight of legacy would be too much for the young man when he took up the group's banner after his father's unexpected death. He has disproven their claims, but he has proven them incorrect. In the 28 years since he has been in charge, he...
According to the Shanghai Metals Market survey, China’s aluminium billet inventories again decreased week-on-week but at a lower rate as of Thursday, March 23, after the two former weeks of hikes. As per the SMM data, the inventories dipped by 1,500 tonnes from a week ago to amount to 167,900 tonnes. Last Thursday, March 16, the billet inventories climbed 6,000 tonnes W-o-W to peg at 169,400 tonnes. Stable aluminium production across China this week ensured smooth arrivals of stocks. Due to the widening price difference, more billets flowed to Foshan than Wuxi, resulting in a growing stock in Foshan and a decline in Wuxi. To know the current status of aluminium billet inventories across China in more details, refer to the chart below: According to SMM, aluminium billet inventories only...
DR Axion, a supplementary board to Craftsman’s existing aluminium business, has reported fast-paced revenue growth in current times attributed to Kia’s entry and diversification, eyeing the PHEV market in India. This has led Craftsman to opt for a 76 per cent stake in the business at INR 3.75 billion with consultations from IIFL Securities analysts. DR Axion has skilfully traversed beyond Hyundai and Kia with humungous orders from M&M, which would propagate the next phase of the company’s growth. Experts from IIFL Securities project that the acquisition would become 5-7 per cent EPS-accretive in FY24 or FY25. The acquisition plan was worth 4.4x FY23 estimated EV/EBITDA. Though DR Axion has encouraged large-scale expansions in recent years, its production rate remained low at 65 per cent....
The world leader in the mining of bauxite and iron ore, among many other minerals, Rio Tinto, observed World Water Day on March 22, 2023, by publicising information about annual surface water usage across its global network of managed sites in 35 countries, through an interactive map on its website. The database details permitted surface water allocation volumes, the site's annual allocation usage, and the associated catchment runoff from each managed site's average yearly rainfall estimate. The database will be updated annually and include five years of historical comparative data. Rio Tinto pledged in 2019 to promote good water management and improved disclosure to stakeholders by sharing site-by-site surface water usage statistics for all managed sites by the end of 2023. The...
Gutterglove has reportedly launched a new gutter guard made of aluminium. With 20 years of experience and expertise in the gutter guard market, Gutterglove has expanded its product portfolio by introducing All-Aluminum Gutter Guard for essential protection. The new product is designed in a way so that it can handle average rainfall and resist large leaves, debris and pests from going into gutters. All-Aluminum Gutter Guard utilises the company’s patented technology, outperforming other entry-level options of gutter guards. The new guard is made with RiserStep™ technology, which slows down the flow of rainwater into gutters like small, dam-like steps. The All-Aluminum Gutter Guard will be sold on the consumer and professional retail channels from March 2023. In 2000, Gutterglove realised...
In commemoration of Global Recycling Day, Al Meera Consumer Goods Company has partnered with the Seashore Recycling and Sustainability to introduce the first wholly integrated electronic waste (e-waste) recycling station. Both organisations are eager to turn away the plastic, paper, tin, glass and aluminium scrap from landfills. At present, the pilot project is visibly located at the Al Meera Legtaifiya branch parking lot, with the organisation planning country-wide circulation soon. Al Meera’s initiative is thoroughly inspired by the idea of Qatar National Vision 2030, which envisions turning the country into a pillar of sustainability with all the operations and services being carbon-free and environment-friendly. The e-waste recycling programme will aid in eliminating the chances of...
In February 2023, Africa's primary aluminium production stood at 130,000 tonnes, reflecting a plunge of 13,000 tonnes or 9.09 per cent month-on-month, found the International Aluminium Institute. But in January, the output edged 3,000 tonnes or 2.10 per cent higher at 143,000 tonnes, compared to 140,000 tonnes in December 2022. On a year-on-year calculation, Africa's primary aluminium output registered an increase of 7,000 tonnes or 5.69 per cent from 123,000 tonnes. In the first two months of 2023, primary aluminium production in Africa totalled 273,000 tonnes, up by 13,000 tonnes or 5 per cent from 260,000 tonnes. IAI data also showed that despite the monthly plunge in Africa's primary aluminium output during February 2023, the average daily production stood restrained at 4,600 tonnes....
LME aluminium opened at US$2,275 per tonne on Wednesday, with its high and low at US$2,285 per tonne and US$2,261 per tonne respectively before closing at US$2,285 per tonne, an increase of US$15.5 per tonne or 0.68 per cent. On March 22, Wednesday, the LME aluminium cash bid price and the LME aluminium official settlement price slipped by US$3 per tonne or 0.13 per cent to halt at US$2,231.50 per tonne and US$2,232 per tonne. The LME aluminium price has been on a fluctuating spree this month with no sudden spikes and the average prices ranging between US$2,366.50 per tonne and US$2,232 per tonne. The 3-month bid price dived down by US$2 per tonne or 0.09 per cent, stopping at US$2,282 per tonne, whereas the 3-month offer price dropped US$3.50 per tonne or 0.15 per cent, closing at...
On Thursday, March 23, China’s A00 aluminium ingot price has grown by RMB 50 per tonne to settle at RMB 18,150 per tonne, with the average prices standing between RMB 18,130 per tonne and RMB 18,170 per tonne. On a W-o-W calculation , the aluminium ingot price moved up by RMB 10 per tonne from RMB 18,140 per tonne recorded on March 16. The spot contract price as of today is expected to be traded at a discount price of RMB 100 to RMB 60 per tonne. As per the data, the prices in Linyi and Gongyi have increased by RMB 60 per tonne and RMB 40 per tonne to reside at RMB 18,210 per tonne and RMB 18,080 per tonne. On the same day, prices in both Foshan and Shenyang climbed up by RMB 30 per tonne to close at RMB 18,280 per tonne and RMB 18,170 per tonne. Only in Chongqing and Wuxi, the prices...
Bordeaux-based winehouse Barton & Guestier (B&G) launched a new alcohol-free sparkling rosé in 250ml aluminium bottles. The drink was launched considering the young drinkers and also to comply with the environmental factors by reducing the carbon footprint. The smaller format aluminium bottles are recyclable and lighter than glass, weighing only 35g when empty. B&G NectaRose is a premium, sulphite- and sugar-free sparkling rosé that doesn't contain alcohol. The 250ml aluminium bottle was launched as a part of its ongoing commitment to CSR, to gain environmental certifications for all of its brands and lessen the company's total carbon footprint via responsible product development. 85 per cent of B&G's entire carbon footprint is accounted for by the shipping of goods, according to Petra...
On Wednesday, March 22, shares of Jiangsu Dingsheng New Materials Joint-Stock increased by as much as 4.6 per cent after the Chinese producer of aluminium materials announced that it and two of its subsidiaries had signed new contracts with Contemporary Amperex Technology (CATL). Under the agreement, Dingsheng will be taking care of the aluminium foil requirements of CATL. The CATL facilities in China and Europe will get aluminium foil from Dingsheng and two of its subsidiaries, the Zhenjiang, eastern Jiangsu province-based company announced on Wednesday. Aluminium foil is utilized in new energy vehicle batteries. It also said that its European manufacturing facility, European Metals, would give a specific amount to CATL's factory on the continent between 2024 and 2026. It would meet at...
Mishka, a premixed vodka brand, has launched its flagship concoction in 300ml aluminium slender cans. This move is to eradicate the conventional glass bottle from its packaging line. The company amped with the call for eco-friendly products, has released its five specific flavours in sustainable aluminium cans. The available flavours are as follows; Sweet Raspberry Mango, Watermelon Guava, Tropical Pineapple lime, Lemon Lime & Bitters and Zing Zesty Lemon. An additional "Mix it up a little" version will be commercially available by April 18, loaded with two of the above flavours. To embrace sustainability with their packaging solutions, Mishka has composed the aluminium cans in a way that they hold almost 60 per cent recycled aluminium. Since aluminium is infinitely recyclable, the used...
Beverage manufacturer Britvic posted about an investment of £13 million to introduce a fifth canning line at its Rugby facility. The company excels in manufacturing solid and sustainable aluminium cans for its patented drinks. According to the notifications by Glebe Farm Industrial Estate, the investment will generate almost 20 new job opportunities related to the engineering and manufacturing sector. The addition might also help in positioning present Britvic apprentices as full-time company employees in the firm. The announcement can be regarded as just a portion of the total £40 million investment administered slowly through the past two years. Once complete, this might help the company get registered as one of the five biggest soft drink makers in the European territory. The Britvic...
On March 17, Friday a mishap occurred at one of the facilities of Dicastal North America that produces lightweight aluminium alloy wheels for established automakers. The facility, located 30 miles from Grand Rapids, Michigan, was tattered vehemently by an explosion caused by flying debris from the production process. Dicastal North America develops and supplies aluminium alloy wheels to automobile giants like General Motors (GM), Stellantis, Ford and many other distinctive Japanese car-making companies. A GM representative Dan Flores said the car expert is “aware of the Dicastal facility issue and is working with them to determine any impact to our operations” before concluding with “no additional information to share at this time.” Other Dicastal associates were not vocal about any...
Gulf Aluminium Rolling Mill (GARMCO), a counterpart of Bahrain Mumtalakat Holding Company, has invested US$24.5 million to expand its development project for a technologically advanced production line for aluminium coils. GARMCO kept the project’s course aligned with the decisions taken by its creditors in November 2021. GARMCO also charted out a refurbishment plan alongside the unit expansion in agreement with the concerned parties since it had filed for reorganisation in February 2019. From the US$24.5 million, almost US$7.5 million will be allotted for materialising the new aluminium coil production line, applying the “continuous casting” methodology to augment productivity. In the long run, this will help the company expand its network and bring in diversification. The development...
On Tuesday, March 22, Aluminium Stewardship Initiative announced the joining of Nothing, the UK-based privately held consumer technology business, as the new Downstream Supporter member. With this partnership the smartphone manufacturer will be better equipped to promote real, long-lasting change in their sector. "We are committed to leading the industry revolution by developing goods that have a minimal negative impact on the environment, with the ultimate goal of taking nothing from the earth to make our product, and leaving nothing behind when it's replaced," said Nothing. Aluminium is the most important component of Nothing's raw material procurement, and it currently uses 100 per cent recycled aluminium in its Phone(1). The main aim of Nothing is to break down technological barriers...
WKD, with a blooming business in the UK, is planning to deploy 250ml aluminium cans across its flagship range. This newly introduced packaging solution can be availed in four or ten-pack modules. The company is very optimistic about this transformation, hoping to reduce material waste and decrease carbon emissions throughout its production line. WKD's proprietary brand SHS Drinks also supports this move and claims the introduction of aluminium cans to its line of products would open complementary usage of upcycled raw materials for the company. The WKD aluminium cans will not affect the taste or flavour of the company's beverage since the non-ferrous metal is completely odourless and keeps the interiors from getting exposed to sunlight, increasing the product's shelf life. WKD will still...
LME aluminium closed at US$2,269 per tonne, down US$14.5 per tonne or 0.63 per cent, from the previous trading day. On Tuesday, March 21, both LME aluminium cash bid price and LME aluminium official settlement price moved down by US$2.5 per tonne or 0.11 per cent to settle at US$2,234.50 per tonne and US$2,235 per tonne. 3-month bid price and 3-month offer price inched up by US$1.5 per tonne or 0.06 per cent and US$3 per tonne or 0.13 per cent to score at US$2,284 per tonne and US$2,286 per tonne. December 24 bid price and December 24 offer price climbed up by US$2 per tonne or 0.08 per cent and 0.07 per cent to rest at US$2,500 per tonne and US$2,505 per tonne. LME aluminium opening stock came in at 541875 tonnes. Live warrants and Cancelled warrants closed at 435925 tonnes and 105950...
