A lot happened over the week in downstream and end-user sectors of aluminium. While there had been updates on project expansion and new products launched, on one hand, on the other, there was news on the semi-finished product export market or an increase of VAT rebates on exports. Let’s now recapitulate to some of the top news this week just in case you missed any.
The week started with UACJ Corporation’s announcement to construct a new battery foil production facility through its subsidiary Ruyuan Dongyangguang UACJ Fine Aluminum Foil Co. Ltd. in Guangdong province, China. The Group also announced to collaborate with Guangdong Hec Technology Holding Co., Ltd., to further expand its business in China. Followed this, the news arrived that China would increase the value-added tax (VAT) rebates on exported aluminium alloys bars and rods to 13 per cent and on stranded wires, cables, ropes and similar articles of aluminium other than with steel core and electrically insulated products (HS code 76149000) to 16 per cent from September 15, 2018.
The news on China’s sluggish aluminium export (both unwrought aluminium and aluminium products) in August also made its way to the top headline this week. According to the data revealed by China Customs, China exported a total amount of 517,000 tonnes in August, slightly down from the three-years of highest amount 520,000 tonnes in July. 6063 aluminium billet inventories, on the other hand, continued extending their growth by 3200 tonnes from a week earlier to stand at 121,100 tonnes as of Thursday, September 13.
Other news that also made a room were GFG Alliance to revise the design of alloy wheel plant to double its output capacity, SMS group to install its fifth extrusion press for Thöni group in Austria, and Constellium to expand in Dahenfeld for increasing production and supply of aluminium automotive structures.
Some of the top news in the end-user sector this week were Trump’s suggestion in Twitter that Ford and Apple could avoid import tariffs by shifting their manufacturing to the US and Austal’s announcement of having been delivered a 30 metre long high-speed aluminium catamaran for VS Grand Ferries Corporation in the Philipines.
Ford, however, did not accept Trump’s suggestion and said that it would not be moving production of its hatchback wagon Focus Active to the United States from China despite President’s claims.
China Passenger Car Association updated us this week that retail sales of passenger vehicles in China dropped 7.4 per cent to stand at 1.76 million units in August, compared to 1.89 million units in the same period last year. The data separately showed a total sale of sport utility vehicles (SUV) as well, which in August had come in at 716,527 units, down 8.5 per cent from 777, 432 units in the corresponding period last year.
Gordon Murray’s new IStream chassis made of aluminium thin-wall tubing and honeycomb recycled carbon-composite panels claim to cut vehicle weight in half. Turkey aluminium stranded wire exports down 11% in H1 2018 and Dudley’s Aluminium secures two new projects worth more than £1million in total.
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