AlCircle News Edited By "Rupankar Majumder"
A professional with a technical background, specialising in producing insightful content centred around metals, particularly aluminium, passionately engaged in the intricacies of the recycling sector.
MGI acquires 35-year-old aluminium fenestration firm ‘Barton Windows’
The expeditiously growing group, Modular Group Investments Limited (MGI) that emphasised acquiring businesses around the off-site manufacturing sector has accomplished another acquisition this year with the procurement of the entire share capital of a 35-year-old aluminium fenestration business based in Barton-upon-Humber North Lincolnshire, Barton Windows Limited. The newest acquisition pursues to diversify MGI’s client base and counted potential synergistic value to the group, although also complementing MGI’s existing aluminium product portfolio of cladding and decking branded ‘Euralite’ that was rolled out in the previous month. MGI’s legality of the acquisition was advised by Hempsons, while the transaction concluded on 14 th October 2021. Michael Garratt, Founder & CEO at MGI said:...
European Aluminium celebrates 40th anniversary
The voice of the aluminium industry in Europe, European Aluminium appreciates aluminium’s unique and permanent properties, as aluminium has been on a steady growth path since large-scale industrial aluminium production started in 1886. The metal aluminium is now the fastest-growing metal and the second most used metal in the world. The 1981 born, European Aluminium supported the growth of the European aluminium industry and to observe its 40 th anniversary, the association launched a micro-site, magazine and academic paper charting the development of the aluminium industry in Europe and the extraordinary rise of aluminium as a vital enabler of a more sustainable society. Gerd Götz, Director General of European Aluminium said: “Since the birth of European Aluminium in 1981, the association...
South Korea’s export of aluminium containers during 2019-21 demonstrates an enterprising growth
The economy of South Korea has a mixed economic system that constitutes a variety of private freedom, blended with centralized economic planning and government regulation. Innovation and technology are the vital constituents that have braced South Korean export competitiveness and propelled the country's excellent economic rise over the past decades. The East Asian nation, South Korea exported 2164 tonnes of aluminium containers during 2019-20, which are very much used in the food and hospitality industry and the revenue incurred from the export of containers accounted for $8.96 million. In 2019, South Korea exported only 147 tonnes of aluminium containers and the revenue generation development counted to $47,870 million, whereas, in 2020, the export saw enterprising growth by 1272%, as...
Indonesia plans to put ban on bauxite export onward 2023
On 19 th October 2021, the President of Indonesia, Joko Widodo stated the country is planning to put brakes on the export of all crucial raw commodities in an attempt to entice investment in onshore resource processing and job creation. The world’s largest island nation, Indonesia has banned a number of crude ore exports including nickel, tin and copper in a bid to vitalize downstream industries, comprising the manufacturing of batteries for EV and the aluminium industry. Presently, the Indonesian government is conducting a feasibility study for the downstream of other commodities with a long-term vision of no longer just selling just raw materials, the President said in the village of Bebatu on Borneo Island. The President added: “A new policy would hopefully emerge next year. Don’t be...
Nalco CMD predicts Aluminium demand to expand by 5% - 6%
The Chairman and Managing Director of the National Aluminium Company Limited (NALCO), Sridhar Patra expects that the demand for aluminium to expand by 5% - 6%. On 18 th October 2021, the aluminium stocks picked up as the world aluminium market witnessed a huge upsurge supported by the statement from the world's eighth-largest aluminium producer, Alcoa. The American multinational corporation, Alcoa was up 15% proceeding to its numbers, so on 18 th October 2021 aluminium stocks were a major point of discussion. Furthermore, global investment bank and financial services firm Credit Suisse has also stated that it remains most bullish on aluminium from the base metals pack. Sridhar Patra, Nalco CMD said: “With the curtailment of production by the majors (like China and European Union) and...
Mozambique’s aluminium scrap export during 2018-21 illustrates express growth
The economy of Mozambique is a combination of both traditional and market economic systems. The export of primary aluminium is one of the major exports of the country among other commodities with Mozal Aluminium is the sole aluminium producer. The Southern African nation, Mozambique exported 3731 tonnes of aluminium scrap during 2018-20 and the earnings incurred from the scrap metal accounted for $7.26 million. Mozambique’s export of aluminium scrap in 2018 was recorded at 257 tonnes and the earnings from the export counted to $1.63 million, whereas, in 2019, the export is illustrated by an express growth of 369.26%, as the export volume escalated to 1206 tonnes and the earnings grew to only $1.87 million. In 2020, the aluminium scrap export further registered a growth of 88.05%, as the...
US aluminium producers sent an alert on output curbs due to magnesium crisis
The aluminium industry is countering the dearth of raw materials for the production of the metal that is utilized in vehicle manufacturing and building supplies sends an alert for distress in supply that has propelled US prices to an all-time peak. The biggest aluminium billet producer in the United States, Matalco has sent an S-o-S to consumers of its output slash and rationalizes supplies immediate next year amid a magnesium crisis. Matalco stated in a letter to customers: “Difficult-to-source supplies of other raw materials and soaring natural gas prices are adding to the challenges.” The largest primary aluminium producer of the US, Alcoa expressed their disquiet about magnesium shortage, as they observed so-called force majeure declarations by some suppliers. The Force majeure clause...
Assan Alüminyum finalizes further investment in sustainable expansions
The world’s leading manufacturer in flat-rolled aluminium (FRP), Assan Aluminyum, a subsidiary of Kibar Holding, has settled plans to invest further in sustainable expansions through a sequence of investments worth over $95 million from 2021 through 2024. However, with the accomplishment of the expansion of the project, Assan Alüminyum is expected to have the largest continuous casting capacity in Europe and America. Global climate change, exhausting resources and extensive social inequalities is developing a critical future for the human race. Hence, corporate sustainability gains importance at a faster pace than ever. Assan Alüminyum eyes on sustainability as one of its fundamental values with the awareness and walk on the steps of the Aluminium Stewardship Initiative (ASI) framework to...
Kazakhstan’s import of aluminium foil during 2018-20 signifies impressive growth; 2% dip estimated for 2021
Kazakhstan being a member nation of the Eurasian Economic Union (EAEU) has a mixed economic system that includes a variety of private freedom, amalgamated with centralized economic planning and government regulation. The economy of Kazakhstan is the largest in Central Asia in both absolute and per capita terms, however, the currency saw a drastic depreciation between 2013 and 2016. The central Asian country and the former Soviet republic, Kazakhstan imported 4756 tonnes of aluminium foil during 2018-20 and the foreign revenue expended for the import accounted for $18.62 million. In 2018, Kazakhstan imported 504 tonnes of aluminium foil with revenue expenditure counted to $2.50 million, whereas, in 2019, the domestic demand shoot up by 274.20%, as the import volume grew to 1886 tonnes and...
Supply of dry fuel to the non-power sector is regulated, not stopped: Coal India
On 17th September 2021, the Indian state-run coal exploitation and refining company, Coal India Limited (CIL) explicated that supply of the dry fossil fuel to the non-power sector like aluminium, steel, etc. has been diminished, but not completely ceased, as professed by some sectors. As reported by a senior official of CIL, the course of action has been taken to consummate emergency demands for power plants as the country encounters a coal crisis. The CIL official added: “We are regulating supply to meet the sudden jump in demand of coal from the power sector but have not stopped it to non-power consumers. Our daily supplies are more than 2 lakh tonnes to non-power industries against the normal supply of around 3 lakh tonnes.” The Indian manufacturers from various sectors proclaimed...
Aluminium extruder China Zhongwang reports financial distress at Hong Kong bourse
On 15 th October, the aluminium products producer China Zhongwang Holdings Co. stated that it had been alerted of acute distress at two subsidiary companies following the Chinese prices for the silvery shining metal attained a 15-year record high. Liaoyang Zhongwang Superior Aluminium Fabrication Co and Liaoning Zhongwang Group Co are countering trouble owing to substantial losses and business oppression, as per the statement Zhongwang delivered to the Hong Kong stock exchange, without any further clarification. The world second-largest and Asia’s biggest producer of aluminium extrusions are broadly consumed in multiple sectors like transport, construction and electronics industries. Zhongwang is the world's second-biggest manufacturer of aluminium extrusions widely used in the transport,...
Primarily Aluminium Weekly: Global power crisis spins aluminium prices to cross $3,000 per tonne; Nalco shares boost 7% following Rakesh Jhunjhunwala 1.36% stake disclosure
On 11th October 2021, the London Metal Exchange witnessed the surge of aluminium price as it crossed the $3000 per tonne mark, the highest since July 2008. The mounting pressure on the aluminium sector indicated, as the global metals world prepared to gather in London for the annual LME Week. However, for now, it is also predicted that in the next 12 months prices could hit $3400 per tonne. The stock price of India’s integrated aluminium company Nalco observed a flight of 7% after the data revealed that ace Indian market expert Rakesh Jhunjhunwala acquired a 1.36% stake. Hongqiao’s Chairman Zhang Bo said that they have rolled back the relocation idea due to power restrictions, while 1 million tonnes of capacity had started in Wenshan last year. On 11th October 2021, Hilde Merete Aasheim,...
Hulamin’s share price jumps 25% ensuing it issued a cautionary
The Pietermaritzburg, South Africa based company that specialises in rolled aluminium products for precision and high technology applications, Hulamin’s stock prices climbed to a 25% rise in the morning trade of 14 th October 2021, following the metal company issued a cautionary that it has set foot in discussions. On 13 th October 2021, the share price surged to a high of R3.99 after closing at R3.19. The company exemplified: “Shareholders are advised that the company has entered into discussions which, if successfully concluded, may have a material effect on the price of the company’s securities.” Consequently, the shareholders of the company were advised to exercise caution while dealing in the Hulamin’s securities. The supplier of a significant proportion of the world's ultra-high-end...
Guinea mining sector attracts $6.2 billion investments in 5 years span
The West African nation that recently faced a political crisis, Guinean’s mining sector has attracted $6.2 billion of investments in the span of five years which signifies 2015-2020. Hence it kept the nation’s economy resilient amid the epidemic Ebola and Covid-19 pandemic. Out of the $25 billion of outstanding investments commitments, $6.4 billion has already been invested in the sector, of which 97% or $ 6.2 billion USD during the above said period alone. According to Boké Mining Company (SMB), the investment figures comprise several mining operations and the accomplishment of crucial works in the mining sector during the five-year phase. The project of the Santou-Dapilon railway that appended to a set of investments made between Boffa and Boffé amounted to $3 billion. The investments...
Nalco shares boost 7% following Rakesh Jhunjhunwala 1.36% stake disclosure
The shares of the Govt. of India equity hold majority enterprise, National Aluminium Company Ltd (NALCO) has aroused by approximately 7% following its shareholding pattern data for September quarter revealed an expert investor Rakesh Jhunjhunwala stake. The Government of India holds 51.28% in Nalco, with public shareholding comprising the rest. As per the data of the September quarter, the Indian business magnate and investor, who manages his own portfolio as a partner in his asset management firm, Rare Enterprises Rakesh Jhunjhunwala has acquired a 1.36% stake or 25 million in Nalco. Notwithstanding, the buying price of the Nalco stake by Jhunjhunwala and the date of the purchase are yet to be disclosed. The brokerage firm JP Morgan has elevated the integrated aluminium company to...
Panama’s aluminium cans export during 2019-21 exemplifies sharp downfall with a marginal gain
The economy of Panama is primarily dependent on the services sector, which shoulders the maximum majority of its GDP and accounts for most of its foreign revenue. As per the data, it is driven that in 2020, agriculture contributed around 2.74% to the GDP of Panama, 23.6% came from the industry and 71.01% from the services sector. The country’s United States dollar-based economy has been propelled by the Panama Canal’s ambitious 2016 expansion and other public infrastructure improvement projects. The nation famous for the human engineering that slits through its middle, linking the Atlantic and Pacific oceans to create an essential shipping route, Panama exported 6727 tonnes of aluminium cans incurring revenue of $31.92 million during 2019-20. In 2019, the import recorded export of 4233...
India: MSME sector appeals govt. to withdraw import duty on aluminium
The apex body representing the entire spectrum of the Indian Aluminium Industry, the Aluminium Association of India’s President Rahul Sharma emphasized the drastic impact of coal dearth that has developed on industries. Accordingly, the fossil fuel counts for around 40% of the production cost which he stated in his letter to Coal India Ltd. (CIL). He also added that the MSME sector is steering towards a risk factor of closure and lay-offs, as the facilities are compelled to functionalize with highly slashed power. V.K. Agarwal, Managing Director of Shashi Cables Ltd. exploring this matter to another level commented: “Small units are the real sufferers not solely because of power shortage but there are other prominent issues as well, for which we will be liaising with the concerned...
Mounting aluminium prices narrowing profit for fabricators: Shandong Nanshan Aluminium
On 14 th October 2021, the Chairman of Shandong Nanshan Aluminium Co, Lu Zhengfeng stated that in 2021, the Chinese aluminium processors experience diminishing profits anticipated to mounting metal prices. The metal aluminium that is utilised in making of beverage cans to aeroplanes, witnessed a surge of over 50% as of now this year on the ground of robust demand and production curbs due to a severe power crisis and flooding in China, global master of aluminium production. Lu Zhengfeng said: “Aluminium prices have jumped significantly (and) increasing freight charges, price spreads and exchange rates are all having a big impact on processors.” On 13 th October 2021, the profusely traded November aluminium contract on the Shanghai Futures Exchange surged to its towering point since 2006...
