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.
Zacks Research demotes Century Aluminium’s projected earnings to $0.09 per share for Q3 2023
Zacks Investment Research has reportedly lowered its estimates for Century Aluminium’s Q3 2023 earnings per share (EPS) in a research report issued to clients and investors. According to M. Agarwal, a research analyst at Zacks, projects that Century will post earnings of $0.09 per share for the current quarter, significantly down from the previous forecast of $0.22. As per the investment research firm Zacks, the downtrend is likely to continue until the fourth quarter of 2023, with EPS estimated at $0.06. Other equities analysts have also issued research reports about the company. StockNews.com has granted a ‘sell’ rating to Century Aluminium in a research note, while Wolfe Research has reduced Century’s rating from ‘peer perform’ to ‘underperform’, setting a $6.00 target price on the...
End-user weekly recap: PULSE+ water launches new aluminium bottle; Vook E-trike tricycle features robust aluminium frame
The end-user aluminium sector witnessed several innovative product launches this week like PULSE+ water’s new aluminium bottle, Vook E-trike tricycle featuring a robust aluminium frame, the new F77 Space Edition electric motorbike featuring aerospace-grade aluminium, and TVS Motor’s electric scooter TVS X. Even a prestigious award of the industry Aerobal’s World Aluminium Aerosol Can Award 2023 was announced. PULSE+ Water, dedicated to offering high-quality, pure, and long-lasting hydration choices, lauchned new eco-friendly aluminium bottles, setting a remarkable example by considering the planet’s well-being and the demand for endurable bottles. The lack of a truly natural and healthful water source prompted the company’s founders to launch the new bottle. To know more:...
US aluminium scrap exports to Malaysia continue to fall M-o-M by 9.8% in May 2023
According to the US Census Bureau data, the United States exported 30,900 tonnes of aluminium scrap to Malaysia in May 2023. Compared to 34,100 tonnes in the previous month, the US aluminium scrap exports recorded a decline of 3,200 tonnes or 9.38 per cent. The downtrend continued from the previous month when the export volume decreased by 11.43 per cent from 38,500 tonnes in March. However, on a year-on-year calculation, the United States aluminium scrap exports in May registered an increase of 12.96 per cent from 27,000 tonnes. In the first five months of 2023, the United States aluminium scrap exports to Malaysia totalled 165,000 tonnes – 87.78 per cent or 30,000 tonnes more than 135,000 tonnes during the corresponding period of the last year. Malaysia is the second-largest importer of...
China’s specialised aluminium alloy bar & ingot manufacturer Kunshan Chaoqun Metal Products Co. joins ASI
The Aluminium Stewardship Initiative has announced the joining of Kunshan Chaoqun Metal Products Co., as a New Production and Transformation member. Located in Zhangpu Town, Kunshan City, between Shanghai and Suzhou, the company specialises in producing 36 specifications of deformed aluminium alloy bars and special grades of aluminium alloy ingots from Series 1 to 7. Kunshan Chaoqun was established in 2009 and brought into operation in April 2010, with a registered capital of RMB 100 million. The company covers an area of 42,000 square metres, and its building area is 25,000 square metres. Currently, the firm is operated by more than 116 employees, including ten professional technical personnel and twelve quality management personnel. The annual production of cast rods is 80,000 tonnes,...
Rise in US aluminium crude metals and alloys imports mark hat-trick till May’23; Australia becomes a new face
The United States aluminium crude metals and alloys imports totalled 407,000 tonnes in May 2023 after escalating by 32,000 tonnes or 8.53 per cent from 375,000 tonnes in April. The import volume in the earlier month (March 2023) stood at 316,000 tonnes, meaning the US imports grew by 18.67 per cent sequentially in the subsequent month, according to the US Census Bureau. The above data reflects a month-on-month hike in the US aluminium crude metals and alloys imports during March-May following a drop in February by 28.99 per cent from 307,000 tonnes to 238,000 tonnes. Overall, the import volume showed a growing trend year-to-date. On a year-on-year calculation, the United States aluminium crude metals and alloys imports slightly grew by 3,000 tonnes from 404,000 tonnes, learned USGS. From...
German can manufacturer Tubex wins dual recognition in Aerobal’s World Aluminium Aerosol Can Award 2023
Aerobal, the international organisation representing aluminium aerosol cans manufacturers, has reportedly announced the winners of the industry’s prestigious competition, ‘World Aluminium Aerosol Can Award 2023’. Nivea’s pearl & beauty antiperspirant, produced by the German can manufacturer Tubex, won the award for the category ‘cans already on the market’. The fascinating design and eye-catching colour scheme of the packaging brought the award. The can evokes a luxurious charm because of its dark aubergine colour with a translucent effect, enabling the reflection of aluminium. The pearl printed on the can in the finest gradients is another flavour of richness to the packaging. This unique colour scheme proves that lighter colour is not contaminated with the darker hue and that the dark...
Update: Top five aluminium foil manufacturers in the United States
Aluminium foil is the most preferred choice of raw material in the packaging industry because it acts as a total barrier to light and oxygen, odours and flavours, and moistness and germs. Hence, there is an estimate for robust growth of the global aluminium foil market in ten years, from US$26.3 billion in 2022 to US$42.3 billion in 2032, at a compound annual growth rate (CAGR) of 5%. To this significant growth contributes the United States and Europe, with a market value of USD 8.69 billion in 2022, which is also likely to grow at a CAGR of 5% till 2030. The United States accounts for a symbolic consumption of aluminium foil globally and also considered a prominent producer. AL Circle, in one of its articles in 2017 , posted that Amcor, Novelis, ACM Carcano, Reynolds Group Holdings,...
Citigroup buys $160 million of Russian aluminium from LME; will it lower Russian-origin stocks in LME?
According to a recent report, Citigroup Inc., an American multinational investment bank and financial services corporation, has bought about $160 million worth of Russian aluminium, produced at Rusal, from the London Metal Exchange. Russian-origin stocks in LME-registered warehouses have been growing gradually this year as many global companies resorted to different countries for procuring aluminium for their needs. As per the latest update in July 2023, Russian aluminium represents over 80 per cent of LME warehouse inventories, an all-time high, marking the fourth month-on-month increase in the last five months. In January, Russian aluminium share in LME was 41 per cent, while that in February increased to 46 per cent, March 53 per cent, April 52 per cent, May 68 per cent, and June 80...
Ozroll starts sourcing LocAl® Green lower carbon aluminium from Capral
Driven by the demand for sustainable aluminium products in the construction sector, Ozroll, an Australian manufacturer and distributor of premium home improvement products, has started using LocAl® Green lower carbon aluminium supplied by Capral for its Elipso louvres and plantation shutters. The objective is to practise environmental stewardship and set up a benchmark for sustainable manufacturing, as explained by Peter Bulka, Capral's Industrial Manager for Southeast Queensland. Ozroll is an eco-conscious company focused on minimising carbon emissions and fostering a greener planet. So, the company's switch to Capral's LocAl® Green lower carbon aluminium aligns well with their beliefs and disposition. Jack McDonald, General Manager of Ozroll Queensland, said: "Energy efficiency and...
Mahanadi Coalfields seeks government approval for INR 34,072 crore investments in Greenfield aluminium project
Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited (CIL), awaits government approval to invest INR 34,072 crore in an integrated Greenfield aluminium project in Odisha. The project will have a 2 million tonnes alumina refinery, a 0.5 million tonne aluminium smelter, and a 1,400 megawatts captive power plant. For the integrated project, Mahanadi will acquire a bauxite block at Sijimali or Kutrumali in Odisha , mine six million tonnes of bauxite per annum, and produce aluminium ingots with value-added products. Mahanadi Coalfields plans to inject INR 10,222 crore as equity, considering the project's debt-equity mix of 70:30. Hence, it seeks exemption from the investment limit of 15 per cent of the project's net worth, as pre-determined by the Department of Public...
China's aluminium imports hit 231,452 tonnes in July'23, a 20% increase Y-o-Y
According to China customs data, unwrought aluminium and products imports into China grew significantly by 20.1 per cent year-on-year to reach 231,452 tonnes in July 2023. Limited domestic stocks and expectations for robust demand in autumn drove the rise of China's aluminium imports. On a month-on-month calculation, China's unwrought aluminium and products imports recorded a 9.6 per cent rise from 211,235 tonnes due to the same reason, showed customs data. Aluminium stocks on the Shanghai Futures Exchange stood just above 100,000 tonnes in July 2023, the lowest level since December 2022. China's total imports of unwrought aluminium and products in the first seven months of 2023 amounted to 1.43 million tonnes, 12.2 per cent more than the same period of 2022. The rise in China's aluminum...
China’s A00 aluminium ingot price escalates over the weekend to reach RMB18600/t, recording 1.2% W-o-W rise
According to the Shanghai Metals Market, China's A00 aluminium ingot price has initiated the week on Monday, August 21, with an increase of RMB 80 per tonne to reach RMB 18,600 per tonne. The average prices are estimated to range between RMB 18,580 per tonne and RMB 18,620 per tonne, with a spot contract to be traded at a premium price of RMB 110-150 per tonne. On a week-on-week calculation, China’s A00 aluminium ingot price is standing 1.2 per cent higher than RMB 18,380 per tonne, learned SMM. In Wuxi, A00 aluminium ingot price has hiked by RMB 90 per tonne to stand at RMB 18,600 per tonne, followed by the rise of RMB 80 per tonne in Gongyi and Foshan to settle at RMB 18,540 per tonne. In Hangzhou and Linyi, A00 aluminium ingot price has grown by RMB 80 per tonne closing at RMB 18,600...
Downstream weekly recap: China to accommodate 17 new aluminium battery foil projects; Sansera Engineering to invest INR300 crore for capacity expansion
The downstream aluminium sector witnessed an active week started from August 14, 2023, with 17 new Chinese battery foil projects commissioning production, Sansera Engineering Ltd, a precision-forged and machined aluminium components manufacturer, planning to invest INR 300 crore for capacity expansion, and Beijing Easpring, a Chinese manufacturer of battery cathodes, constructing a production plant for for ternary cathode active material. In addition, Capral Limited, Goyal Aluminiums Ltd, and Hind Aluminium announced their financial results this week. As per the report covered by AL Circle on August 16, China is going to have 17 new aluminium battery foil projects. Some are under construction, while some have started production. The 17 projects will have a total production capacity of...
Dadco Alumina and Chemicals Ltd obtains ASI Performance Standard Certification for its AOS refinery
Dadco Alumina and Chemicals Limited, a leading supplier of high-quality alumina-based products and services in Europe, has received Performance Standard V2 (2017) Certification from the Aluminium Stewardship Initiative for producing smelter grade alumina and other alumina chemicals at Aluminium Oxid Stade (AOS) refinery in Stade, Germany. However, the facility has been recognised with the certification for its entire operations, including port, administration, storage areas, and landfill in Stade. Dadco’s AOS refinery has an annual production capacity of more than 1 million tonnes of alumina. They supply the alumina to smelters for processing into aluminium and deliver alumina chemicals for the production of flame retardants and water treatment products. The ASI Performance Standard V2...
AL Circle's next e-Magazine is on the way, be ready for 'Heat Treatment: Challenges and Solutions in the Aluminium Industry'
The heat treatment process plays a crucial role in the entire value chain of aluminium. From raw materials melting by electrolysis, semi-finished product manufacturing such as traditional sheets, plates and wire rods, to finished product making such as thin aluminium foil or engine blocks, intermediate heat treatment is inevitable. The importance of the heat treatment process in aluminium manufacturing is because it poses strength, hardness, ductility, toughness, wear resistance, elasticity, and magnetism, improving the metal's properties and making the output high-quality and functional. Heat treatment is a way of using controlled heating and cooling procedures, which otherwise is a critical and cumbersome task. Most of the unavoidable and annoying consequences that occur within...
Alcoa renews power sourcing agreement with AGL Energy for Portland Aluminium Smelter
On Friday, August 18, Alcoa Corporation, the world’s eighth-largest aluminium producer, announced the renewal of the agreement with AGL Energy Limited (AGL) to source 300 megawatts of power for its Portland Aluminium Smelter in Victoria. The new agreement will be valid for nine years, effective from July 1, 2026, when the current contract between Alcoa and AGL expires. The 300 megawatts of power will meet around 50 per cent of the energy required to produce the annual nameplate capacity of 358,000 tonnes of aluminium at Alcoa’s Portland Aluminium Smelter. Currently, the smelter is producing about 75 per cent of the nameplate capacity. According to Alcoa Australia President Matt Reed, the new deal will secure the smelter’s future operation and save more than 760 jobs, including...
Australian aluminium extruder Capral Limited posts strong H1 result than expected
Capral Limited, manufacturer and distributor of fabricated and semi-fabricated aluminium and associated products in Australia, has reported strong result for H1 2023 that has outperformed expectations. As per the report, the company’s net cash stood at $41.2 million at the end of the year’s first half and net profit after cash at $16.6 million. However, this is to be noted that Capral’s net profit for H1 recorded a plunge of 25.2 per cent year-on-year from $22.2 million, attributed to the sluggish LME aluminium benchmark price. Lower sales volume was also another reason for the drop in Capral’s H1 net profit. Sales volume stood at 35,600 tonnes at the end of June, down by 2 per cent from the same period last year. Meanwhile, Capral’s underlying EBITDA showed a slight rise from $31.6...
Ball Corporation to sell its aerospace business to BAE Systems for $5.55 billion
Ball Corporation, the world's leading producer of circular aluminum packaging for global beverage and household brands, is reportedly selling its aerospace business to BAE Systems for $5.55 billion in cash. The news came on Thursday, August 17, after the company announced its agreement with BAE Systems, a British multinational arms, security, and aerospace company based in London, UK. The transaction is estimated to close in the first half of 2024, subject to regulatory approvals and customary closing conditions and adjustments. According to Reuters, BAE Systems successfully signed an agreement with Ball Corporation after competing with General Dynamics Corp and Textron, who also tried to buy the business. Once the deal is closed successfully, the combination of nearly half of the...
