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.
Aluminum Association backs Mexico's decision to increase border tariffs on Chinese aluminium
Following the United States' command to the Mexican government to prevent China from shipping metals to the US via its ports, Mexico has announced an increase in border tariffs on many types of aluminium and aluminium products imported from China. A week ago, United States President Joe Biden tripled the 7.5 per cent tariff on Chinese aluminium and steel imports to curb the rising flow of non-eco-friendly aluminium into China. In 2023, China's aluminium and steel exports to the United States were valued at US$1.7 billion. In response to the Mexican government's implementation of border tariffs on Chinese aluminium products, Charles Johnson, president & CEO of the Aluminium Association, said in a statement: "We appreciate this important first step by the government of Mexico to tighten...
Economic research reveals US aluminum industry supports more than 164,000 direct jobs
Economic research firm John Dunham and Associates has released its latest survey report, providing fascinating information about the market size and employment of the United States present aluminium industry. The study says the US aluminium industry directly employs more than 164,000 workers and contributes $92 billion in direct economic output. When indirect economic output is considered, the industry supports nearly 700,000 American jobs and generates $228 billion – nearly 1 per cent of the US GDP. These figures suggest the aluminium industry plays a crucial role in the US economy, providing vast employment opportunities. The particular aluminium sectors that create record employment in the US are recycling and semi-finished, especially sheet & plate. However, the closure of primary...
AMAG Austria remains optimistic despite Y-o-Y fall in Q1 earnings as order trend improves on quarter
AMAG Austria Metall AG, the biggest company in the Austrian aluminium sector, announced its first quarter 2024 results, reporting an improvement in earnings compared to the fourth quarter of 2023. But compared to the same period last year, AMAG’s earnings in Q1 2024 saw a downtrend due to lower shipment volumes and aluminium prices. The company reported its Q1 revenue at EUR 335.8 million, down by 17.05 per cent from EUR 404.8 million a year ago. EBITDA was EUR 42.4 million, up from the previous quarter but down by 30.26 per cent from EUR 60.8 million during the corresponding period of the previous year. The company’s net income after taxes was EUR 13.3 million, also down by 50.37 per cent Y-o-Y from EUR 26.8 million tonnes. But amid the depleted Y-o-Y earnings, AMAG’s cash flow from...
Vedanta expects its aluminium production to reach 2.3 to 2.4 million tonnes by FY2025
According to a Reuters report, Vedanta Limited expects 2.3 to 2.4 million tonnes of aluminium production in FY2024-25. By the third quarter of FY2024, Vedanta produced 1.772 million tonnes of aluminium, a 3 per cent rise year-on-year and the highest-ever output . In Q3 alone, Vedanta’s aluminium production was 599,000 tonnes, up by 6 per cent Y-o-Y and 1 per cent Q-o-Q. According to Reuters, Vedanta has also anticipated aluminium production cost for the financial year 2024-2025 at $1,625 to $1,725 per tonne. According to the 3QFY2024 results, Vedanta’s revenue during the particular period was INR 34,968 crore, up by 4 per cent Q-o-Q and Y-o-Y, driven by higher sales volume and favourable output commodity prices. The company’s EBITDA during the said period was INR 8,677 crore, up by 21 per...
Sluggish demand for European aluminium foil sparks double-digit fall in 2023 shipments
European aluminium foil demand experienced a slower trend through 2023 than in 2022, resulting in a double-digit fall in the year's final quarter, according to the figures just released by the European Aluminium Foil Association (EAFA). The entire 2023 reflected a unique circumstance of high stock levels and weak demand for aluminium as high prices and interest rates forced end-consumers to limit their metal purchase. It directly affected foil in packaging and household goods in particular. According to EAFA survey, sluggish demand for European foil led to a 14.6 per cent year-on-year decline in shipments from 973,000 tonnes in 2022 to 831,700 tonnes in 2023. Thinner gauges, primarily used for flexible packaging and household foils, were neither left untouched by the sluggish market and...
Norsk Hydro loses no hope amid depleted fiscal results in Q1 2024; renewable energy business has its back
Norsk Hydro's first quarter CY2024 report, released on Wednesday, April 24, highlighted a challenging financial performance attributed to depreciated aluminium sales prices, lower aluminium extrusion sales volumes, and lower recycling margins. The company's revenue was generated at NOK 47,545 million during Q1 2024, compared to NOK 48,534 million a year ago. That recorded a downfall of 2 per cent year-on-year. Adjusted EBITDA registered a slump of 28 per cent Y-o-Y from NOK 7,525 million to NOK 5,411 million. Besides the aforementioned factors , higher fixed costs also negatively impacted Hydro's fiscal results. Adjusted EBITDA from Hydro Extrusions fell sharply by 35 per cent Y-o-Y from NOK 2,223 million to NOK 1,437 million, particularly owing to muted demand in the residential and...
Hydro’s 2030 recycling goals inspire it to build a new aluminium scrap sorting facility in UK
Norsk Hydro, a Norwegian aluminium and renewable energy company, has reportedly planned to invest NOK 180 million in developing a state-of-the-art aluminium scrap sorting facility at its recycling plant in Wrexham, UK. As per the report, the facility will be able to source and sort over 30,000 tonnes of aluminium scrap and will be built next to Hydro’s aluminium extrusion ingot recycling plant. Barry Salisbury, Hydro’s plant manager in Wrexham, said: “This new facility enables us to optimally sort a large variety of post-consumer scrap grades that are mainly exported out of the UK today, before continuing to the next step of the recycling process. This is an essential improvement in material flow that allows us to meet the increasing demand for low-carbon aluminium that we see...
Shift to renewable energy: Vedanta uses biomass briquettes in fuel mix for Lanjigarh alumina refinery
Vedanta Aluminium, India’s largest aluminium producer, has started deploying a greener fuel mix composed of biomass briquettes for renewable energy source at its world-class alumina refinery in Lanjigarh, Odisha. The company currently uses 20 tonnes of the new fuel mix per day as a significant move towards achieving Net Zero Carbon by 2050 or sooner. Biomass briquettes are a biofuel substitute made of biodegradable green waste with lower emissions of greenhouse gases and carbon dioxide than traditional fuel sources. So, using this new fuel mix will help Vedanta decrease greenhouse gas emissions from its refinery by more than 10,000 tonnes of CO2 equivalent each year. In addition, shifting to this fuel will also reduce the company’s reliance on fossil fuels. “As India works towards...
World’s primary aluminium production in Q1 2024 maintains Y-o-Y momentum amid sequential drop
In the first quarter of 2024, the world’s primary aluminium production manifested an annual growth trajectory while it shied away from growing on a quarterly basis. The global primary aluminium output in Q1 2024 ended March 31 reflected a 4.11 per cent hike Y-o-Y but exhibited a 1.24 per cent drop Q-o-Q. But the monthly production in March, standing at 6.073 million tonnes, increased month-on-month as well as year-on-year by 7.15 per cent and 3.55 per cent, respectively. Global production in the first quarter of 2024 stood at 17.802 million tonnes, compared to 18.025 million tonnes in Q4 2023 and 17.099 million tonnes in Q1 2023. The world’s daily average production of primary aluminium in March 2024 was 195,900 tonnes, up by 500 tonnes from 194,400 tonnes a month ago and skyrocketed by...
Australian government grants A$400 million funding to Alpha HPA for a factory
Prime Minister of Australia Anthony Albanese announced the funding of A$400 million for a high-purity alumina processing factory in Gladstone, as part of its pledge to give out $600 million in loans to develop the market for two critical mineral projects. The news came after Mr Albanese made the announcement alongside Resources Minister Madeleine King at a media conference on Wednesday, April 17. The fund will be provided to Alpha HPA, an Australian company specialised in producing ultra-high purity alumina and related premium aluminium materials, via two separate agencies. The Northern Australian Infrastructure Facility and Export Finance Australia's (EFA) A$4 billion critical minerals facility will offer A$160 million each and A$ 80 million jointly. Alpha HPA will utilise the fund in...
China’s aluminium ingot inventories manifested downtrend in March’24 due to boosted activities in downstream sector
In tandem with the enthusiastic buying and selling activities of the aluminium downstream processing enterprises since the beginning of March, owing to the arrival of the traditional peak season, aluminium ingot inventories showed signs of decline at the end of March, as was predicted by SMM earlier. However, due to the rally of Chinese domestic aluminium prices, primarily from the beginning of April, aluminium ingot destocking took a back seat. The downstream activities also slowed down during the three-day holiday for the Qingming Festival, which also inhibited aluminium ingot destocking. The trend goes on But the inventories only grew week-on-week in early April and remained low than the previous year. For instance, on April 8, SMM found the inventories across China’s eight major...
China’s domestic manufacturing sector recovery drive up March’24 aluminium imports by 89.9% Y-o-Y
According to China customs data, the country's aluminium imports, including primary metal and unwrought, and alloyed aluminium, surged by 89.8 per cent year-on-year in March 2024, buoyed by demand growth. China's increasing demand for aluminium is being fuelled by the growth of solar, electric vehicle (EV), and energy storage sectors. The remarkable 63 per cent growth in China's solar sector in 2023, reaching RMB 2.5 trillion, indicates the rapid expansion of the renewable energy industry. This growth trajectory persists into 2024, suggesting a sustained demand for aluminium, a crucial material in these sectors. As per the data revealed by China customs, the country imported 380,000 tonnes of unwrought aluminium products, bringing the total imports in the first quarter of 2024 to 1.1...
Alcoa’s Q1 2024 revenue stands at par to the earlier quarter, supported by alumina division
On April 17, Alcoa Corporation announced its operational and financial results for the first quarter of 2024 ended March 31, whereby it noted the revenue of $2.6 billion, down by 3.7 per cent from $2.7 billion a year ago but remained at par to the previous quarter. From the alumina business, Alcoa’s revenue rose 6 per cent due to higher average price and increased shipment but revenue from aluminium division dropped by 3 per cent due to lower average price. Net loss attributable to Alcoa Corporation was $252 million or $1.41 per share, higher than $150 million or $0.84 per share in Q4 2023, owing to average third-party prices of aluminium and higher production costs, partially offset by lower energy and input costs. The net loss in Q1 2024 also included a charge of $197 million related to...
ASI certifies Nanjing Chervon Auto Precision Technology against Provisional Performance Standard Certification
Aluminium Stewardship Initiative has reportedly certified Nanjing Chervon Auto Precision Technology Co., Ltd. against Provisional Performance Standard V2 (2017) certification for the production and sales of aluminium automotive components at Nanjing, China. The certification is valid for one year, during which the company can address the non-conformances assessed and subsequently seek full certification. Nanjing Chervon Auto Precision Technology produces automobile components, including motor housings, steering system components, and electronic brakes and parking components. Nanjiang Chervon Auto Precision Technology Co., Ltd. received the certification after undergoing a stringent, independent third-party audit. Since the initial audit took place before May 31, 2023, the company got a...
ISRI changes its brand name to The Recycled Materials Association
On April 18, 2024, the Institute of Scrap Recycling Industries announced that it rebranded its name and logo after over 35 years since it came into existence. It is now known as The Recycled Materials Association (ReMA). The news came after the association unveiled its new name and logo during the closing general session of ISRI2024 Convention and Exhibition in Las Vegas. The association's new identity represents three strong visions – Sustainable, Resilient, Essential, considering recycled materials industry is sustainable, helping protect the environment; using recycled materials in product making upholds a circular economy and hence it is resilient; and recycling is essential to make everyday life better. According to Robin Wiener, President of the Recycled Materials Association, the...
US Government triples 7.5% tariff on Chinese aluminium and steel imports; Aluminum Association applauds the move
According to a report on April 18, United States President Joe Biden has tripled the current 7.5 per cent tariff on Chinese aluminium and steel imports and is putting pressure on Mexico to prevent China from shipping metals to the United States via Mexican ports. In response to this move, the White House said in a statement, "President Biden knows that steel is the backbone of the American economy. American workers in the steel and aluminium industries face a significant challenge from Chinese exports of steel and aluminium." Last year, Chinese aluminium and steel exports to the United States were valued at US$1.7 billion. Mining giant Rio Tinto pointed out that China's domestic steel demand stood stagnant in early 2024 and so its exports rose 30 per cent year-on-year during the first two...
Ducab Metals Business sets new sustainable standard with Green Aluminium Rod
Ducab Metals Business (DMB), a UAE-based copper and aluminium solutions provider, has reportedly unveiled its new Green Aluminium Rod, produced using recycled aluminium in compliance with the EU's CBAM regulation. The production of DMB's Green Aluminium Rod requires significantly less energy than primary aluminium and emits only 0.5 tonnes of CO2-equivalents per tonne (approx.), reflecting DMB's commitment to turning the aluminium industry into green economy. DMB also follows a zero-waste philosophy and practices sustainable sourcing to contribute to the aluminium industry's broader environmental and sustainable goals. By using recycled aluminium for its new product, DMB has set new benchmarks for environmental responsibility within the sector. Recycled aluminium, the key raw material of...
China’s bauxite imports show 4% Y-o-Y rise in Jan-Feb’24 due to domestic refineries dependency on overseas ores
China customs data showed that the country's bauxite imports from January to February 2024 totalled 24.4794 million tonnes, reflecting an annual increase of 4 per cent. In individual months, China imported 13.2019 million tonnes and11.2775 million tonnes of bauxite. The import in January was 11.24 per cent up month-on-month and 7.15 per cent higher year-on-year, while the import in February edged a month-on-month fall of 14.58 per cent but grew 0.53 per cent year-on-year. Sources of imports Guinea, being the highest supplier of bauxite to China, provided 9.2859 million tonnes in January, which was 12.95 per cent up M-o-M and 1.52 per cent up Y-o-Y. From Australia, China imported 3.4759 million tonnes – 9.66 per cent higher M-o-M and 50.89 per cent more than in the previous year. From...
