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THINK ALUMINIUM THINK AL CIRCLE
This week the global aluminium industry’s downstream segment delivered some great news and definitely, it throws positive response to the market, while the week also had controversial news as American Industrial Partners (AIP) came up with a board spat with British industrialist Sanjeev Gupta on Duffel aluminium rolling plant and now it has gone to worst. On the other hand, auto companies are getting attracted to aluminium more due to their gradual shift to EVs and auto components maker Bharat Forge also gears up itself with the move.
The global automotive industry is countering a lot of disarrays, counting stricter regulations on emissions steering automakers to switch to the electric vehicle segment. India’s leading manufacturer and exporter of auto components, stated in its annual report: “2021 will be the year electric vehicles (EVs) will take centre-stage.” According to Million Insights, a California-headquartered market research firm said in May’20: “The EV market is expected to be valued at over $1.2 trillion by 2027. The growth can be imputed to the number of government initiatives across the globe to promote the adoption and manufacturing of EVs.”
To know more: https://www.alcircle.com/news/auto-companies-are-using-more-aluminium-for-transit-to-evs-bharat-forge-too-gears-up-68885
The South African manufacturer of specialised rolled aluminium products, Hulamin, stationed in Pietermaritzburg, KwaZulu-Natal announced that it has restarted operations after unrest tormented the country. On 12th July 2021, the world's ultra-high-end aluminium products maker suspended its operations after the nationwide unrest following the arrest of former President Jacob Zuma. In the latest update, Hulamin said: “Property loss had been limited to the theft of a few small non-critical items and minor damage to infrastructure.”
To know more: https://www.alcircle.com/news/hulamin-restarts-functioning-after-unrest-torment-south-africa-68876
The US private equity group American Industrial Partners (AIP) board spat with British industrialist Sanjeev Gupta has gone to worst. Gupta was displaced from Alvance Aluminium Duffel earlier this month and now he has successfully fought in court to be appointed back to the board on 14th July 14. Though it’s an impermanent win for Gupta, it gives him time to fetch a solution with lenders, who are trying to overtake his assets.
To know more: https://www.alcircle.com/news/aip-sanjeev-gupta-board-spat-for-alvance-aluminium-duffel-worsens-68889
On 19th July 2021, the organizations that emerge for their financial performance during 2010-2020 were honoured at the Awards Ceremony for the Greek business, "Protagonists of the Greek Economy", organized for the sixth time by the Direction Business Network. The awards were honoured based on the official financial data of the companies as reflected in their financial reports and are presented in detail in the publication "The Strong of the Greek Economy", which has just been released and is also dedicated to the decade 2010-2020.
The biggest company in the Austrian Aluminium industry sector, AMAG Austria Metall AG increases its earnings forecast for the current financial year predominantly due to the ongoing positive market trend of primary aluminium. The premium supplier of high-quality aluminium cast and flat-rolled products, AMAG has an integrated plant in Ranshofen, Austria which enables the combination of core competencies in recycling, casting, rolling, heat treatment and surface finishing uniquely.
To know more: https://www.alcircle.com/news/aluminiums-positive-market-trend-drives-amag-to-increase-its-earnings-forecast-for-2021-68862
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China declined by 0.9% 1,200 tonnes from the previous week to 119,600 tonnes on Thursday, July 22, 2021. Aluminium billet outbound volume fell by 1,800 tonnes to 46,500 tonnes last week.
To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-decline-by-0-9-to-119-600-tonnes-68894
Dengfeng Power Group Co Ltd’s aluminium alloy unit stopped production as flooding water entered the plant, according to a Reuters report. The incident occurred after water spread into a high-temperature solution in the alloy tank and caused a blast. The Dengfeng government said in a statement that no casualties were reported. The government also started safety inspection.
To know more: https://www.alcircle.com/news/dengfeng-power-groups-aluminium-alloy-plant-halted-operations-due-to-floodwaters-68870
The Balkan nation in south-eastern Europe, Bulgaria exported 22,340 tonnes of aluminium tubes and pipes during 2018-20 and the revenue generation occurred for the export accounted for $53.47 million. Bulgaria exported 4768 tonnes of aluminium tubes and pipes in 2018 and the earnings booked was $11.53 million, whereas, in 2019, the export developed express growth by 68.98%, as the export volume rose to 8057 tonnes and the earnings grew to $20.78 million.
According to the data released by the General Administration of Customs, China's imports of unwrought aluminium and products - which include primary metal and unwrought, alloyed aluminium increased month-on-month by 30% in June. Imports of unwrought aluminium and products stood at 294,081 tonnes last month. That was up from 225,458 tonnes in May. On a year-on-year basis, aluminium imports rose 1.8%.
To know more: https://www.alcircle.com/news/china-s-aluminium-products-imports-climb-by-30-mom-to-294-081-tonnes-in-june-68851
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