AlCircle News Edited By "Debanjali Sengupta"
Debanjali Sengupta is a passionate content writer with 10 years of experience in Business writing, Web Content writing, Blogging, Editing and Research. She is responsible for generating and editing content for AlCircle Newsletter and other online and offline content for enhancing the brand value and its visibility among global users.
Egypt Aluminium achieves 45% of previous year’s net profit in only Q1, marking 160% Y-o-Y growth
Aluminium Co. of Egypt (Egyptalum), a subsidiary of the Metallurgical Industries Company and a leading player in the aluminium industry, has announced its fiscal results for the first quarter of FY2024-25 ended September 30, highlighting a striking increase in net profit and revenue. Image Source: Egyptalum According to the Q1 figures, Egyptalum yielded a net profit of EGP 4.23 billion after tax, up by 160 per cent Y-o-Y from EGP 1.63 billion. The company earned more profit in a single quarter than it secured in six months of the previous year. In the first six months of FY2024, Egypt Aluminium achieved a profit of EGP 3.43 billion , again up by 101 per cent Y-o-Y from EGP 1.7 billion. The above data shows a steady growth trend in Egyptalum’s net profit over the past two years. During the...
China Hongqiao Group bags ASI Certification for high-precision aluminium sheet production and metal waste treatment
China Hongqiao Group Limited, one of the world’s leading aluminium manufacturers with a production capacity of more than 6 million tonnes and 11 major production bases around the world, has acquired Chain of Custody (CoC) Standard V2 (2022) Certification from the Aluminium Stewardship Initiative. Image Source: Aluminium Stewardship Initiative The company has received the certification for its Zouping Hongfa Aluminum Technology Co., Ltd facility and subsidiary Zouping Dingrui Renewable Resources Co. Ltd. While the former is involved in the research, development, production, and sales of aluminium alloy rolling products, including can body material, can cover material, aluminium foil blanks, and other products, the latter is responsible for non-ferrous metal processing and treating metal...
China’s aluminium production ramps up in October, backed by increasing operating capacity
China’s aluminium production in October 2024 (31 calendar days) saw a year-on-year increase of 1.69 per cent and a month-on-month rise of 3.58 per cent, attributed to capacities back to operations in early October after technical renovations. However, some smelters unexpectedly delaying capacity resumption did offset the country’s monthly output, found the Shanghai Metals Market. Image Source: CRU The aluminium output hike in October could also be attributed to steady demand growth for downstream alloy products during the traditional peak season from September to October. In addition, China’s domestic primary aluminium price rally during October, reaching as high as RMB 21,080 per tonne, played a favourable role in metal production, providing the smelters an opportunity to make profits....
NALCO posts stellar performance for Q2 FY2025, with net profit growing 415% Y-o-Y
National Aluminium Company Limited (NALCO), the Navratna CPSE under the Ministry of Mines, has announced the second quarter fiscal results for FY2024-25, wherein it has posted a fourfold growth in net profit. From INR 206 crore (US$24.4 million) in Q2 FY2023-24, the company’s net profit this year increased to INR 1062 crore (US$125.7 million), up by 415 per cent Y-o-Y. In Q1, the company’s net profit had grown by 72 per cent annually from INR 349 crore (US$41.3 million) to INR 601 crore (US$71.14 million). In Q2, the sequential growth was 76.69 per cent. During the period under review, the company’s total income from operations was INR 4001 crore (US$473.6 million) – 32 per cent higher than INR 3044 core (US$360.37 million) during the corresponding period of the previous year. EBITDA in...
Aluminium beverage cans industry becoming lifeline to Brazil's economy; increased GDP leads to double-digit sales growth
The aluminium beverage can sales in Brazil have recorded an impressive 12 per cent year-on-year growth for H1 2024, revealed the Brazilian Association of Aluminium Can Manufacturers (Abralatas). The association, representing the country's aluminium can sector, previously noted that macroeconomic development significantly drove the increase in Brazilian beverage can sales this year. Following the revelation of this momentous growth, Abralatas expects the year to close with a high-digit sales figure for aluminium beverage cans. Earlier, the association estimated a growth rate of 5 per cent at the year-end, compared to an annual increase of 1.65 per cent last year. However, it is essential to see if the projection remains the same after this double-digit growth in H1. Production, consumption...
Indian aluminium industry urges again for higher import duty. Will the government pay ears?
The Indian aluminium industry has once again knocked the government to remind about the increase of import duties on primary and downstream aluminium and to raise customs duty on aluminium scrap to restrict the inflow of low-quality scrap into the country. This urge to the government time and again is essential in the background of skyrocketing primary aluminium and low-grade scrap imports, particularly from countries with excessive production capacity like China, causing the domestic market to fight against uncompetitive prices and impeding investments in local production. In July 2024, ahead of the Union Budget, Indian aluminium producers had asked for an import duty hike on aluminium scrap to 7.5 per cent from the present 2.5 per cent. For primary aluminium, the demand was an import...
Goyal Aluminiums posts a 75% surge in net sales for September quarter
Goyal Aluminiums Limited, a leading manufacturer of aluminium coil, aluminium sheets, aluminium sections and other aluminium parts, has announced its second quarter results ended September 30, 2024, revealing a 75 per cent surge in net sales. From INR 12.39 crore (US$1.47 million) in Q2 FY2023-24, the company’s net sales increased to INR 21.68 crore (US$2.57) in Q2 FY2024-25. Image Source: Goyal Aluminiums On a quarter-on-quarter basis, Goyal Aluminiums’ net sales grew by 12.8 per cent from INR 19.22 crore (US$2.28 million). Quarterly net profit grew by 6.31 per cent Y-o-Y from INR 0.48 crore (US$56,879) to INR 0.51 crore (US$60,436). Over three-month period, net profit in Q2 stood 2 per cent higher than INR 0.50 crore (US$59,254). EBITDA stood at INR 0.80 crore (US$94,805) in the...
Oct'24: China’s alumina output reaches 7 million tonnes again, but can this growth sustain amid tight bauxite supply?
After a decline last month, China's metallurgical-grade alumina production grew in October 2024, marking a M-o-M increase of 2.93 per cent, according to the Shanghai Metals Market survey. The output also escalated by 6.51 per cent year-on-year, backed by capacity expansion and higher operating rate. Exceeding the initial forecast of 1.73 per cent M-o-M growth, China's metallurgical-grade alumina production in October is estimated to have amounted to 7.112 million tonnes versus 6.91 million tonnes in September . Notably, the country's monthly output volume yet again surpassed the 7 million tonnes benchmark but fell short of 1.5 per cent to touch the August production. From January to October 2024, China's total production of metallurgical-grade alumina was recorded at 68.708 million...
Alba sees a twofold growth in Q3 profit on higher aluminium prices and sales volume
Aluminium Bahrain B.S.C. (Alba) has reported a twofold increase in its Q3 profit for the calendar year ending December 31, 2024. Registering a 215 per cent hike Y-o-Y, Alba’s profit in the September quarter stood at BD54.5 million (US$145 million) versus BD17.3 million (US$46 million) in Q3 2023. Image Souce: Aluminium Bahrain The company’s aggregated year-to-date profit amounted to BD147.5 million (US$392.2 million), marking a Y-o-Y increase of 55.8 per cent from BD94.6 million (US$251.7 million). Alba revealed that its comprehensive income for Q3 2024 was BD51 million (US$135.6 million), up by 145.7 per cent from BD20.8 million (US$55.2 million) during the corresponding period of the previous year. The company’s total comprehensive income in nine months was BD145.3 million (US$386.5...
China’s aluminium plate, sheet, strip and foil production to grow up to 8% in 2024 despite battery foil output waning
According to a preliminary survey by the Shanghai Metals Market, China’s output of aluminium plate, sheet, strip and foil products, such as can stock, battery foil, double-zero foil, auto body sheet, air-conditioner foil, brazing material, and electronic foil, is expected to demonstrate a robust growth at the end of 2024, withstanding anticipated slower growth rate of battery foil production. As per the SMM data, China’s aluminium plate, sheet and strip production is likely to amount to 13.1 million tonnes, marking an annual hike of about 6 per cent, while aluminium foil production is to reach 4.8 million tonnes, recording an 8 per cent rise year-on-year. SMM survey determines that despite the increase in the number of aluminium battery foil producers, the growth rate of their output...
Alba’s market focus is not limited to Asia, confirms Ali Al Baqali
Ali Al Baqali, the chief executive officer of Aluminium Bahrain B.S.C. (Alba), has reportedly expressed his strong belief in an interview with Mubaseher Info that the company is going to become one of the biggest aluminium companies in the world, targeting diverse markets beyond Asia. Image Source: Aluminium Bahrain (Alba) Ali Al Baqali clarifies that Asia is not Alba's only focus area. He asserted, "Our vision is diverse, and we try to reduce the risks through being in different markets." Alba targets to pull 18 to 22 per cent of its sales from the global markets in Asia, the United States, and Europe. Currently, the local market contributes 25 per cent to Alba's sales. However, Alba's strategy may change if further pressure is felt on shipping costs and guarantees due to the ongoing...
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Hindalco's 78% profit gain in Q2 takes the market by storm after its highest ranking as the World's Most Sustainable Aluminium Company
Hindalco Industries Limited, the Aditya Birla Group metals flagship and one of India's biggest aluminium manufacturing companies has announced the second quarter results for the fiscal year 2024-25, reporting a year-on-year hike of 7.45 per cent in revenue from operations. From INR 54,169 crore (US$6.418 million) in Q2 FY2024, Hindalco's revenue increased to INR 58,203 crore (US$6.896 million) in Q2 FY2025. On a quarterly basis, the company's revenue grew by 2.09 per cent from INR 57,013 crore (US$6.755 million). Hindalco's total revenue in H1 FY2024-25 stood at INR 115,216 crore (US$13.65 million), up by per cent Y-o-Y from INR 107,160 crore (US$12.7 million). In Q2 FY2025, Hindalco's profit was INR 3,909 crore (US$463,153), reaching the highest quarterly profit after recording a...
Donald Trump 2.0: What is in store for the global aluminium industry?
Donald Trump returning to the White House as the 47th President of the United States after winning the 2024 election against Kamala Harris is already raising speculations about global trade policies and economic measures for the ensuing time. This especially comes after his protectionist regime as the 45th President of the United States from 2017 to 2021, which saw heavy import duties as part of the "America First" economic policy. Image Source: Facebook (Handle - Donald J. Trump The Trump presidency during 2017-2021 imposed waves of tariffs on products like solar panels, washing machines, and consumer goods. Even steel and aluminium were not spared from the heavy import duties. Countries like China, Mexico, Canada, and the European Union, the big players in the world aluminium market,...
Decline in the US aluminium crude metal and alloy imports is attributed to UAE and Australia
The year-on-year decline in the United States imports of aluminium crude metal and alloys for consumption, alongside the increase in domestic scrap generation and restrained export volume, indicates the country's intentional shift in focus from primary to secondary aluminium applications. From January to July 2024, the United States imported 2.14 million tonnes of aluminium crude metal and alloys, down by 7.76 per cent Y-o-Y from 2.32 million tonnes. Each month through July 2024 witnessed Y-o-Y fall. In July, the United States aluminium crude metal and alloy imports amounted to 293,000 tonnes, significantly down by 11.48 per cent Y-o-Y from 331,000 tonnes and 13.82 per cent less than 340,000 tonnes a month ago. Among the sources, Canada was the highest supplier of aluminium crude metal...
China’s domestic alumina price gains RMB44/t overnight, bringing it 4.9% W-o-W high; Imported bauxite price adds US$2.57/t
The average alumina spot price in China has added RMB 44 per tonne overnight to reach a new high of RMB 5,253 per tonne on Wednesday, November 6. The continued supply disruption on the suspension of GAC’s bauxite exports from Guinea, while the latter remains the primary source of imported bauxite, has brought the domestic price of Chinese alumina to this high. Based on the historical data from the Shanghai Metals Market, the price is currently 4.9 per cent higher week-on-week compared to RMB 5,007 per tonne and edged a month-on-month hike of 27.87 per cent from RMB 4,108 per tonne. Image Source: Chinalco In some major consumption provinces, the price has even surged by RMB 75 per tonne overnight, such as in Guizhou and Guangxi, bringing the price to RMB 5,200 per tonne. In Shandong and...
US finds subsidised imports of disposable aluminium containers from China hurt the domestic market
The United States Department of Commerce has reportedly found that government subsidies are giving a lot of undue benefits to domestic companies importing disposable aluminium containers, pans, trays, and lids from China. This, in turn, is causing an unfair trading environment for indigenous producers, requiring them to compete with artificially low prices in the market. So, the Commerce Department has decided to instruct US Customs and Border Protection (CBP) to impose countervailing duties on the products at the time of importation. The Commerce Department has also proposed this duty be implemented retroactively, meaning importers who procured disposable aluminium containers from China 90 days before the publication of the department’s preliminary determination notice in the Federal...
Alba revises Line 7 plans, mulls over replacing Lines 1, 2, and 3 with modern facilities
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, is reportedly thinking otherwise about its capacity expansion plans. Instead of proceeding with the plan of building a new Line 7, the company is considering installing new production facilities to replace the existing Lines 1, 2 and 3. Image Source: Aluminium Bahrain B.S.C. (Alba) The news came after Alba C.E.O. Ali Al-Baqali said on the sidelines of the Gateway Gulf Forum, “Now the intention is to demolish or stop the old lines, which are efficient from 1971. They are more than 50 years-plus, and we will replace them with new lines. Technically, this is not a new Line 7 project anymore because we are going to close Lines 1, 2 and 3.” Sharing the essential details, Ali Al-Baqali also said the feasibility...
Q3 2024: North America's primary aluminium production decline causes drop in the Americas' global output share
The Americas primary aluminium production in the third quarter of 2024 maintained a steady trend, reaching 1.375 million tonnes compared to 1.372 million tonnes in Q2 2024, despite monthly output drop in August and September, particularly in North America. Image Source: Rio Tinto's Kitimat Smelter Over the past two months, North America's primary aluminium production decreased M-o-M, deriving 333,000 tonnes in August and 324,000 tonnes in September. The decline in August output was relatively marginal compared to 334,000 tonnes in July, but the decrease in September intensified, marking a 2.7 per cent fall. The declining rate in North America's primary aluminium production during Q3 was akin to a 2 per cent drop in Rio Tinto's aluminium output , primarily contributed by Kitimat smelter,...
