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.
Alba’s Chairman discusses aluminium industry with Chinese Ambassador to Bahrain Mr. Ni Ruchi
According to a recent report, Aluminium Bahrain B.S.C. (Alba)’s Chairman of the Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa, welcomed Mr Ni Ruchi, the Ambassador of People’s Republic of China to the Kingdom of Bahrai, at Alba's premises on May 7, 2023. Alba’s Chief Executive Officer Ali Al Baqali and the officials from the Chinese Embassy in Bahrain, like Mr Li Baoan, Economic and Trade Counsellor and Mrs Wang Zhen, Second Secretary, were also present during the meeting. Commenting on this occasion, Alba’s Chairman of the Board of Directors said, “We are pleased to welcome HE Mr. Ni Ruchi and shed light on Alba’s role in the global aluminium industry and contribution to Bahrain’s economy. We look forward to boosting further cooperation and developing new commercial...
Ball posts a 60% plunge in Q1 2023 net earnings; Russian beverage packaging business sell is held accountable
Ball Corporation announced its first quarter 2023 results on a US GAAP basis, revealing sales of $3.49 billion compared to $3.72 billion during the same period last year. That reflected a year-on-year drop of 6.18 per cent owing to lower demand and shipments. As a result, the company's net earnings declined significantly by 60.31 per cent from $446 million in 1QCY2022 to $177 million in 1QCY2023. Ball Corporation also reported that its comparable net earnings were $217 million or 69 cents per diluted share in 1QCY2023 compared to $252 million or 77 cents per diluted share in 1QCY2022. The year-on-year downfall in Ball’s financial results could be partly attributed to its Russian beverage packing business sell to Arnest Group . However, from the beverage packaging unit in North and Central...
Hydro receives merger clearance from EC for Alumetal purchase
The European Commission (EC) has reportedly approved unconditional merger clearance for Hydro's acquisition of the Polish aluminium recycler Alumetal S.A. In April 2022, Hydro first announced a tender offer to acquire Alumetal with an all-cash transaction worth $240.4 million. But it expired during the phase 2 merger review by the European Commission. Later on, at the end of April 2023, Hydro resumed the offer process to acquire 100 per cent of the shares in Alumetal. The subscription period is expected to remain open till 2023, and the acquisition is likely to close in early July if all other conditions get fulfilled. The European Commission's merger clearance approval is one key milestone of the many to complete the acquisition of Alumetal. This deal will strengthen Hydro’s recycling...
China’s aluminium ingot inventories fall 18,000 tonnes W-o-W, led by below-estimated stocking
China’s social inventories of primary aluminium across eight major consumption areas, including SHFE warrant, recorded a fall of 18,000 tonnes week-on-week to stand at 835,000 tonnes as of Thursday, May 4, found the Shanghai Metals Market data. On a year-on-year calculation, aluminium ingot inventories on May 4 registered a downfall of 197,000 tonnes. According to market players and warehouse operators, the main reason for the destocking was lower arrivals. Pre-holiday stocking was below expectations in many regions of China. Wuxi led the overall decline, also contributed by Hangzhou, Gongyi, and Linyi. To know the current status of China’s primary aluminium inventories in more detail, refer to the chart below: In Wuxi, primary aluminium inventories plunged by 24,000 tonnes this week to...
Africa & Asia’s alumina output reflects a 3% growth in March’23 but drops sequentially in Q1
According to the International Aluminium Institute, alumina production in Africa & Asia (ex-China) stood at 1.070 million tonnes during March 2023, which reflected an increase of 2.88 per cent month-on-month. The output grew in March after a decline of 7.06 per cent in the previous month from 1.119 million tonnes to 1.040 million tonnes. But the total production in three months (Q1 2023) in Africa & Asia (ex-China) edged a decline of 6.11 per cent sequentially from 3.439 million tonnes to 3.229 million tonnes. On a year-on-year calculation, the quarterly output reflected a dip of 2.51 per cent from 3.312 million tonnes. On an annual basis, monthly alumina production in Africa & Asia (ex-China) during March 2023 recorded a fall as well by 1.65 per cent from 1.088 million tonnes. Daily...
Alba reports a 19% revenue fall for 1QCY2023, value added product sales register no growth
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, has reportedly booked a profit of US$126.2 million (BD47.5 million) for the first quarter of 2023 ended March 31. The profit dwindled by 68 per cent year-on-year from US$390.4 million (BD146.8 million). The company’s Basic and Diluted Earnings per Share stood at fils 34 in 1QCY2023 versus fils 104 during the same period of the previous year. Alba’s total comprehensive income during the said period also registered a sharp fall of 71 per cent year-on-year from US$415 million (BD156 million) to US$120.7 million (45.4) million. Gross profit shrank by 55 per cent from US$473.4 million (BD 178 million) to US$212.4 million (BD79.9 million). Alba also reported a 19 per cent drop in revenue from contracts with...
Diabla unveils a unique, stackable aluminium chair TUBA to add a zestful look to your favourite space
A London-based designer Samuel Wilkinson and a Spanish furniture brand Diabla have jointly created an unconventionally designed aluminium stackable chair that will surely add oomph to any domestic or commercial space. The product, called TUBA, was recently unveiled during Milan Design Week 2023 at Solone del Mobile. The name TUBA justifies its composition of 19 aluminium tubes. Due to the application of a modern construction technique, the chair exposes no welding and therefore reflects an ultra-clean look. Fun, original, and energetic, it mirrors the true Diabla spirit. The chair features a very simple appearance but involves extensive research on the intelligent use of aluminium. TUBA’s construction includes two support tubes, 15 oversized curved cross bars, and two leg tubes, all well...
Hydro’s Adjusted EBITDA slumps 33% in 1QCY2023 due to sluggish aluminium demand
Norsk Hydro announced the first quarter results of 2023 ended March 31, revealing a 4.11 per cent year-on-year rise in revenue from NOK 46,616 million to NOK 48,534 million, driven by the stable LME aluminium price starting the quarter at US$2,378 per tonne and ending at US$2,413 per tonne. But higher raw material costs and lower demand negatively affected the company’s adjusted EBITDA, resulting in a plunge of 33 per cent from NOK 11,165 million in 1QCY2022 to NOK 7,525 million 1QCY2023. However, on a quarter-on-quarter calculation, it increased by 4.75 per cent from NOK 7,184 million. Hydro’s adjusted EBITDA from its bauxite & alumina business slumped 66 per cent Y-o-Y from NOK 1,270 million to NOK 437 million, driven by the sluggish sales volume of alumina and the realized price of the...
Shandong Nanshan Aluminium to build a new electrolytic aluminium plant in Indonesia
Shandong Nanshan Aluminium, a China-based aluminium product manufacturer and distributor, is planning to build an electrolytic aluminium factory at its production base in the Galang Batang Special Economic Zone, Indonesia, with an investment of $878 million (RMB 6.07 billion). Electrolytic aluminium is mainly used for power supply. At the new factory, Nanshan Aluminium will produce aluminium ingots, primarily for the South Asian market and the Association of Southeast Asian Nations region. The plant will have an annual output capacity of 250,000 tonnes. Shandong Nanshan Aluminium is headquartered in Longkou City in north-east China and has nearly 18,000 employees worldwide. Its customers include multinationals like Apple, BMW, Boeing, China Commercial Aircraft Corporation, General Motors,...
Egyptalum’s nine-month net profit soars 132% Y-o-Y and exceeds the FY2023 target
On Wednesday, May 3, Egypt Aluminum Company (Egyptalum) announced that it booked a net profit (after tax) of EGP 3.916 billion during July 2022-March 2023 period. Interestingly, the company's net profit surpassed its annual target of 3.02 billion in just nine months, marking a surge of 131.94 per cent year-on-year from EGP 1.688 billion . Egypt's largest aluminium producer also posted that it generated revenue of EGP 14.751 billion in nine months - 37 per cent higher than EGP 10.762 billion during the corresponding period of FY2022. The report was shared in an unaudited financial income statement filed with the Egyptian Exchange (EGX). In the first half of FY2023, Egyptalum earned EGP 1.70 billion of net profit after tax compared to EGP 814.15 million during the same period of the...
Iran’s annual alumina output drops 2% driven by a fall in Q4; Chinese help to boost production
According to the latest report revealed by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran produced 225,942 tonnes of aluminium oxide, commonly known as alumina, in the past year 1401 (ended March 20, 2023). That reflected a drop of 2 per cent from the previous year despite a growing trend till the first nine months (March 21-December 21, 2022). As per the data shared by IMIDRO, Iran’s alumina output stood at 176,239 tonnes during March-December , reflecting a 1 per cent rise year-on-year from 175,284 tonnes. In the final quarter of the Iranian calendar year, Iran’s alumina production dwindled by 13.40 per cent quarter-on-quarter from 57,394 tonnes to 49,703 tonnes unlike the sequential rise in output in the third quarter by 1.50 per cent. In the...
US aluminium crude metals and alloys imports decline 22.5% M-o-M driven by reduced inflow from Canada
According to the US Census Bureau data, the United States’ aluminium crude metals and alloys imports during February 2023 amounted to 238,000 tonnes, reflecting a plunge of 22.48 per cent from a month ago. In January, the import volume was 307,000 tonnes after being plummeted by 20.88 per cent from 388,000 tonnes in December 2022. Thus, the above data indicate the United States aluminium crude metals and alloys imports fell back-to-back at the beginning of the year. On an annual basis, the United States imports of aluminium crude metals and alloys in February’23 stood 9.16 per cent lower than 262,000 tonnes. In the first two months of the year, the United States imported 545,000 tonnes of aluminium crude metals and alloys versus 605,000 tonnes during the same period of the previous year....
Indian aluminium producers reduced their products' prices last week in line with the downward LME price
The three major Indian aluminium producers – Hindalco, Vedanta, and NALCO cut their aluminium prices last week in line with the LME aluminium price fall by US$46.50 per tonne over the week from US$2,388.50 per tonne on April 21 to US$2,342 per tonne on April 28. Hindalco reportedly curtailed INR 5,000 per tonne across all its aluminium prices, including aluminium ingot, wire rod and billet. That brought the company’s aluminium ingot price to INR 223,750 per tonne at the end of the week on April 29 compared to INR 228,750 per tonne on April 22. Hindalco’s aluminium wire rod and billet prices closed the week ended April 29 at INR 235,750 per tonne and INR 237,850 per tonne, as against INR 240,750 per tonne and INR 242,850 per tonne, respectively. Vedanta reduced its aluminium ingot price by...
Aluminium recycler Spectro Alloys to expand capacity on a new 90,000 sq. ft. facility; seeks $400,000 state fund
The US-based, highly efficient aluminium recycler Spectro Alloys Corp. has reportedly proposed to expand its capacity by building a new 90,000-square-foot facility on a 42-acre site along Highway 55. The project needs an investment of $76.8 million, for which the company is looking for state assistance, as revealed in a report. According to a notice from the Minnesota Department of Employment and Economic Development, Spectro is requesting a $400,000 Minnesota Investment Fund loan for the project. The company official said the project would most likely break ground in 2024 and be operational in mid-2025, bringing 70 new jobs to the city. Spectro Alloys said the jobs would pay $30.86 per hour on average. “With this expansion, aluminum recycling at Spectro Alloys will save enough energy to...
Jiangsu Goka Light Alloy Co., Ltd. bags ASI Performance Standard Certification for aluminium extrusion
Aluminium Stewardship Initiative has reportedly acknowledged Jiangsu Goka Light Alloy Co., Ltd. with the Performance Standard V2 (2017) Certification for producing aluminium extrusion profiles at Xiangshui County Industrial Park, Yancheng City, Jiangsu Province, China. Established in 2020, Jiangsu Goka Light Alloy Co., Ltd. produces aluminium extruded products in various alloys for the automotive sector, including crash alloy, high electrical conductivity 6XXX alloy, high strength 6XXX alloy, and high strength 7XXX alloy. It has an annual design capacity of 35,000 tonnes. Spread across 44,000 square metres, the factory houses world-class advanced production and test equipment imported from Europe. On receiving the ASI certification, Bin Luo, General Manager of Goka Light Alloy, said:...
Iran’s aluminium ingot output in FY2022-23 grows 17% Y-o-Y, with SALCO emerging as the higher producer
According to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) data, Iran’s aluminium ingot production during the calendar year 1401 (ended March 20, 2023) stood at 632,166 tonnes. On a year-on-year calculation, Iran’s primary aluminium output edged an increase of 17.36 per cent from 538,633 tonnes, showed IMIDRO. In the preceding year, Iran’s aluminium ingot output had reflected a rise of 20 per cent. Among the country’s four major producers, South Aluminum Corporation (SALCO) produced the highest aluminium ingot of 270,185 tonnes, followed by Iranian Aluminum Company (IRALCO)’s output of 178,077 tonnes. Almahdi Aluminum Company produced 147,749 tonnes, and Iran Alumina Company churned 36,155 tonnes of aluminium ingot. IMIDRO data indicated that...
World alumina production drops 1% Y-o-Y during 1Q2023 despite annual output growth in China
According to the International Aluminium Institute, the world alumina production stood at 11.417 million tonnes in March 2023, bringing the total output in the first quarter of the year to 33.175 million tonnes. Hence, the quarterly output ended March 31 decreased by 5.5 per cent quarter-on-quarter from 35.090 million tonnes and dropped 1.14 per cent year-on-year from 33.556 million tonnes. The monthly production of alumina in March 2023 stood 10.44 per cent higher than 10.338 million tonnes in February but edged a slight fall of 0.89 per cent from 11.519 million tonnes in March 2022. The world’s daily average production of alumina in March 2023 was 368,300 tonnes – 0.24 per cent less M-o-M than 369,200 tonnes and 0.89 per cent Y-o-Y from 371,600 tonnes. In China, alumina production...
Aluminij Industries bags ASI Performance Standard V3 (2022) certification for foundry aluminium alloys production
On Friday, April 28, Aluminium Stewardship Initiative announced that it certified Aluminij Industries d.o.o. against Performance Standard V3 (2022) certification for producing and selling foundry aluminium alloys in the form of billets, slabs, and small ingots at its facility in Mostar, Bosnia. The company represents Bosnia and Herzegovina as the first recipient of ASI certification. Aluminij manufactures a wide range of foundry aluminium alloys using recycled aluminium, primary aluminium and pre-alloys. It is the largest importer and exporter of the materials in Bosnia and Herzegovina, with an annual production capacity of more than 200,000 tonnes. The brand new ASI Performance Standard V3 (2022) certification defines 11 principles and 62 criteria under three sustainability pillars –...
