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DAIKI Aluminium reports a subdued fiscal performance for Q1 FY2024-25, with net income down by 57% Y-o-Y
DAIKI Aluminium, a Japanese producer of secondary aluminium alloys for various applications like high-pressure die casting, casting, and rolling, has announced its first quarter fiscal results for the financial year starting from April 1, 2024, and ending on March 31, 2025. The company has reported a slight drop in its financial performance for the Q1 period ended June 30, 2024, owing to sluggish domestic demand for aluminium, but expressed an optimistic outlook for the full year's sales and profits. For Q1, DAIKI Aluminium posted a net income of 524 million yen, down by 57 per cent from Q1 FY2024, amid flat revenue at 62.6 billion yen. Profit margin stood at 0.8 per cent in the June quarter, down from 2 per cent during the corresponding period of the previous year. DAIKI Aluminium also...
LME aluminium price stands 1.35% W-o-W high despite losing $7.5/t; SHFE price touches the US$2700/t level
On Friday, August 16, the 3-month LME aluminium contract price opened at US$2,358.50 per tonne, with a high of US$2,374 per tonne and a low of US$2,338.50 per tonne, closing at US$2,368 per tonne, up US$12 per tonne. LME aluminium cash bid price and LME aluminium official settlement price suffered a loss of US$7.5 per tonne on Friday, August 16, after the prices increased and touched the US$2,300 per tonne level the previous day. However, marking a week-on-week increase of about 1.35 per cent, LME aluminium cash bid price and LME aluminium official settlement price closed the week at US$2,293 per tonne and US$2,293.50 per tonne, respectively. On the same day, the 3-month bid price and 3-month offer price clocked at US$2,342 per tonne and US$2,342.50 per tonne, down by US$7 per tonne and...
China’s unwrought aluminium and aluminium product imports grow 11.1% Y-o-Y in July 2024
According to China Customs data, China’s unwrought aluminium and aluminium product imports saw a substantial increase of 11.1 per cent year-on-year in July 2024 to stand at 260,000 tonnes. The total imports, including primary metal, unwrought, and alloyed aluminium, in the first seven months of the year amounted to 2.3 million tonnes, reflecting a year-on-year increase of 60.6 per cent, showed the General Administration of Customs. However, compared to April 2024, China’s import volume of unwrought aluminium and aluminium products in July stood much lower than 380,000 tonnes. In the first four months, China’s total imports stood at 1.49 million tonnes, up by 86.6 per cent from the same period of the previous year. Till June 2024, China’s primary aluminium imports alone totalled 1.219...
H1 2024: South America’s alumina production grows 4% Y-o-Y, whereas North America’s output shrinks 12%
In June 2024, alumina production in South America reached its highest level in six months, totalling 1.045 million tonnes. This figure represents a 2.85 per cent increase from the previous month and a 19.29 per cent rise compared to June 2023. Notably, this production level reflects a sharp contrast to the lowest output of 876,000 tonnes recorded in June 2023 during the first half of the year. Maintaining an output above 1 million tonnes during April-June 2024, South America registered a total alumina production of 3.094 million tonnes, up by 2.82 per cent from 3.009 million tonnes in Q1 2024 and 10.26 per cent higher than 2.806 million tonnes in Q2 2023. South America’s total alumina production in H1 2024 was 6.103 million tonnes, an increase of 3.86 per cent from 5.876 million tonnes....
Clean energy transition to propel a 9% increase in aluminium use in the B&C sector by 2027
The Aluminum Association has revealed some excerpts from Ducker Carlisle's report, "Building the Future: Trends in Aluminum Use in the U.S. Construction Market," which indicate a 9 per cent increase in aluminium usage within the building and construction (B&C) sector from 2022 to 2027. This growth is attributed to the shift towards clean energy and efforts to reduce carbon footprints. The report highlights that commercial buildings and clean energy applications like solar installations will primarily drive the growth of aluminium use in the coming years. In addition, federal infrastructure spending and emission reduction programmes supported by the Inflation Reduction Act will contribute to the increase in aluminium use across the building & construction sector. Every $100,000 in...
GUNNA Drinks reaps benefits from transition to infinitely recyclable aluminum packaging
GUNNA Drinks, one of the big players in the soft drinks market, has seen colossal success in business since they changed the packaging of immunity-boosting lemonade drinks from plastic to infinitely recyclable aluminium. As per the report, the brand has experienced a threefold rise in cash sales, which indicates a substantial market for sustainable aluminium packaging over single-use plastic bottles. Success has come following the widespread distribution of GUNNA Drinks’ Raspberry Lemonade 470 ml bottles and GUNNA Tropical Lemonade 470 ml bottles, growing from 77 to 134 stores and from 26 to 117 stores, respectively. In October 2023, Gunna Drinks shelved its new aluminium-bottled lemonades in co-operative stores across the Mid Counties of the United Kingdom. From October 1, consumers...
China’s primary aluminium production hits 20-year high, thanks to rising profitability for smelters
According to the National Bureau of Statistics (NBS), China's primary aluminium production in July 2024 hit a more than two-decade high, with producers ramping up operations, particularly in Yunnan. China, the world's biggest aluminium producing country, churned out 3.68 million tonnes of primary aluminium, a 6 per cent increase year-on-year and the highest monthly output since at least 2002. The continued increase in the monthly production of primary aluminium in China could be attributed to new projects coming online in the northern region of Inner Mongolia in late Q2 2024, while smelters in other regions maintain strong production due to market profitability. Data from a Beijing-based aluminium consultancy, ALD, showed that the industry's average profit in June 2024 stood at about RMB...
ASI grants AS METAL COM SRL with Performance Standard Certification for recycling aluminium scrap
AS METAL COM SRL, a recycling centre in Bucharest, Romania, has reportedly obtained the ASI Performance Standard V3 (2022) certification for the recycling of aluminium scrap. The scrap is used in the manufacture and supply of secondary aluminium alloys cast in ingots and hemispheres for the automotive, household appliance, and steel industries in Bucharest, Romania. The facility recycles aluminium and produces about 17,000 tonnes per year of secondary aluminium alloy cast in the form of ingots and hemisphere, which are then used as raw materials for the automotive, steel, construction and consumer goods sectors. The ASI Performance Standard V3 (2022) certification was launched in May 2022, comprising 11 principles and 62 criteria under three sustainability pillars – Environment, Social,...
China’s A00 aluminium ingot price restores RMB19000/t level; aluminium alloy prices gain RMB50/t
According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has increased by RMB 60 per tonne to exceed RMB 19,000 per tonne. On Thursday, August 15, China’s domestic primary aluminium ingot price has clocked at RMB 19,010 per tonne, marking a week-on-week rise of RMB 230 per tonne from RMB 18,780 per tonne. The average prices are expected to range between RMB 18,990 per tonne and RMB 19,030 per tonne, with a spot contract to be traded at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. Region-wise analysis While the increase of A00 aluminium ingot price has touched upon all the provinces in China, Hangzhou, Tianjin, and Linyi have witnessed a hike of RMB 90 per tonne to RMB 19,040 per tonne, RMB 19,060 per tonne, and RMB 19,040...
LME aluminium price stands 3.16% higher since August 1; SHFE price gains US$25/t over a week
On Wednesday, the 3-month LME aluminum contract opened at US$2,332.50 per tonne, with a high of US$2,365 per tonne, a low of US$2,319 per tonne, and closed at US$2,327 per tonne, up US$1 per tonne or 0.04 per cent. On Wednesday, August 14, LME aluminium cash bid price and LME aluminium official settlement price rose by US$41 per tonne and US$42.50 per tonne, respectively, to stand at US$2,297 per tonne and US$2,299 per tonne. The gradual increase of LME prices over the past few days has brought the LME aluminium benchmark price 3.16 per cent higher than US$2,228.50 per tonne on August 1. However, on a month-on-month calculation, the LME aluminium benchmark price has still remained lower by about US$123 per tonne. On the same day, 3-month bid price and 3-month offer price stood at US$2,347...
Rising operational costs weigh down MAAN Aluminium’s financial performance in Q1 FY2025; Revenue drops 14.75%
MAAN Aluminium, a leading aluminium extrusion manufacturing company, has declared its financial results for the first quarter of the fiscal year 2024-25. In the report, MAAN Aluminium highlighted that its revenue decreased by 14.75 per cent year-on-year, totalling INR 176.78 crore versus INR 237.4 crore. On a quarter-on-quarter basis, the revenue stood 25.35 per cent lower than INR 237.4 crore. Net income plunged by 66.6 per cent year-on-year and 53.43 per cent quarter-on-quarter to INR 3.39 crore. A year ago, the company’s net income was INR 10.15 crore, and a quarter earlier, it was INR 7.28 crore. Operating income was also under pressure, reflecting a year-on-year plunge of 69.98 per cent and a quarter-on-quarter decline of 54.16 per cent to INR 3.69 crore. Rising operational costs...
Euroform expands its operations with a new aluminium building solutions workshop in Tatu City
Euroform, a manufacturer of high-quality building solutions with aluminium, has made an operational debut in Tatu City, Kenya, with a new metal works workshop at Tatu Industrial Park. This move is aligned with their business expansion plan. The first big project they have grabbed in Tatu City post their workshop launch is the Link Logistics & Business Park, the only SME warehousing and logistics park located in a Special Economic Zone (SEZ) in Kenya. The contract is for supplying and installing aluminium windows and doors with glazing, louvres, and ironmongery. Much before launching the workshop, Euroform was involved in supplying and installing building solutions in Tatu City. The company has been a part of the construction of more than 3,000 apartments in Tatu City, which are either...
Hindalco posts a 25% rise in net profit for Q1 FY2025, backed by robust operations and favourable LME aluminium prices
On Tuesday, August 13, Hindalco Industries Limited announced the first quarter results of the financial year 2024-25 ended June 30. In the report, the company highlighted its robust fiscal growth, attributing to the jump of global aluminium prices on the London Metal Exchange. The profit earned in Q1 FY2025 before exceptional items and tax was INR 5,178 crore, up by 55.54 per cent Y-o-Y from INR 3,329 crore and 25.19 per cent higher Q-o-Q from INR 4,136 crore. Net profit amounted to INR 3,074 crore, also up by 25.26 per cent annually from INR 2,454 crore but reflected a sequential dip of 3.15 per cent from INR 3,174 crore. The Q-o-Q fall in net profit could be because of the expenses to repair the flood-affected Novelis plant in Switzerland. The company has made a provision of INR 330...
Alba’s financial earnings rebound in Q2, achieving over 100% growth in profit
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, has declared a steep growth in its financial landscape for the second quarter of 2024, owing to increased sales and higher global aluminium prices. After a year-on-year downfall in Q1 fiscal output, Alba has recovered all its backlogs in Q2 with a revenue of BD407 million (US$1,082.3 million), up by 5.2 per cent year-on-year from BD387 million (US$1,029.4 million). The company’s profit stood at BD68.5 million (US$182.2 million) in Q2, experiencing a skyrocketing surge of 129.2 per cent year-on-year versus a profit of BD29.9 million (US$79.5 million). Sequentially, the profit soared by 179.6 per cent from BD24.5 million (US$65 million) . The company’s basic and diluted earnings per share was fils 48, compared...
Arab Aluminum Company reports a triple-digit surge in net profit for H1 2024
Arab Aluminum Company (AAC), specialised in manufacturing extruding aluminium profiles for a wide range of industries like industrial and architectural, has announced its fiscal results for the first half of 2024, indicating a staggering growth in earnings. Arab Aluminum noted that its H1 net profit after tax stood at EGP 15.729 million, reflecting a surge of 110 per cent year-on-year from EGP 7.489 million. The company’s revenue rose 36 per cent Y-o-Y to EGP 249.435 million for the period of January-June 2024. A year ago, the revenue earned by Arab Aluminum Company was EGP 182.677 million. This significant increase in AAC’s H1 earnings could be attributed to the growing demand for extruded aluminium across the industrial sector, fuelled by a lot of new projects in the areas of...
China’s aluminium output reaches another new high in July 2024, with ingot production improving 6.4%
China’s domestic aluminium production in July 2024 reached a new high, recording a 3.22 per cent increase year-on-year and a 3.66 per cent rise month-on-month, attributed to full production resumption at Yunnan smelters and new capacity commencement in Inner Mongolia. According to the Shanghai Metals Market survey, China churned out a staggering amount of 3.683 million tonnes of aluminium, compared to 3.553 million tonnes in June. The continued increase led to a total production in seven month to over 25 million tonnes. However, amid the ongoing traditional off-season, the reduction or maintenance of billet factories and other aluminium processing plants has impacted the proportion of liquid aluminium, which again decreased by 1.1 percentage points M-o-M and 1.9 percentage points Y-o-Y to...
Despite Russian aluminium stocks growing to 65%, total LME warrant inventories decline in July
The share of Russian aluminium stocks on the London Metal Exchange-approved warehouses continued to increase in July 2024, accounting for 65 per cent of the total stocks. In June, the share of stocks of Russian origin on the London Metal Exchange was 50 per cent after rising from 42 per cent in May. However, it is to be noted that the total aluminium stocks on LME have been decreasing month-on-month. In July, the total stocks amounted to 359,250 tonnes, down by 22.99 per cent from 466,500 tonnes in June, whereas the stocks in May were at 590,975 tonnes. Of the total stocks in July, Russian aluminium stocks on the LME warrant were 233,775 tonnes, up by 1,425 tonnes from 232,350 tonnes in June. The increasing proportion of Russian aluminium stocks in LME-approved warehouses results from the...
Ma’aden’s new aluminium recycling plant at Ras Al-Khair is under pre-feasibility stage
Maaden, a Saudi state-owned mining company, has announced its Q4 2024 financial results, whereby it says its new aluminium recycling plant at Ras Al-Khair is undergoing a pre-feasibility stage. The company says its bankable feasibility stage is expected in the third quarter of 2024. The plant will reportedly have an annual recycling capacity of 400,000 tonnes. However, no details are shared on the project's construction and costs. This aluminium recycling project represents Ma'aden's strong commitment to sustainability, environmental well-being, and a circular economy. In April 2024, Ma'aden acquired special recognition at the Sharjah Award for Excellence in Performance Improvement in pursuit of sustainability and positive transformation in the mining sector. In the Middle East, the...
