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.
Aluminium Downstream Weekly Recap: Hindalco Industries started FY'22 at a strong pace and continues to see a strong demand across business verticals; Six Southern California companies convicted for evading payment of $1.8 billion in duties on imported Chinese aluminium
The aluminium downstream segment remained highlighted in the week for very reasons, unlike the other weeks. Kumar Mangalam Birla, the Chairman of the world's largest aluminium rolling company, Hindalco Industries stated that the metal company commenced the FY'22 at a robust pace and pursues to see strong demand across business verticals. On the contrary, a federal jury found six corporate entities guilty of participating in a wide-ranging conspiracy to defraud the United States via a wire-and-customs fraud scheme in which huge amounts of aluminium – disguised as “pallets” to avoid $1.8 billion in customs duties. The leading Wheel Manufacturing industry having facilities all over India, Steel Strips Wheels (SSWL) announced that it has inked a memorandum of understanding for around $105...
Excellent performance driving India’s top three aluminium producers to chase metal capacity expansion
The Indian industrial sector consists of two private primary aluminium producers and the third aluminium metal producer is a state-owned company. Now, all the three aluminium companies have delivered a remarkable performance in the Q1 of 2021-22. Furthermore, the trio not only earned record EBITDA, but their production reflected surplus in the quarter on Y-o-Y, which diminished the cost of production, predominantly by reducing energy consumption. The aluminium industry is a highly energy-intensive industry, as thermal power and crude derivatives account for between 45% -50% of the cost of production of aluminium in India, accompanied by smelter feedstock alumina at 31%. However, the aluminium smelters in Europe and Canada are using hydropower, while the ones in West Asia operates on...
Six Southern California companies convicted for evading payment of $1.8 billion in duties on imported Chinese aluminium
On 23 rd August 2021, a federal jury found six corporate entities guilty of participating in a wide-ranging conspiracy to defraud the United States via a wire-and-customs fraud scheme in which huge amounts of aluminium – disguised as “pallets” to avoid $1.8 billion in customs duties – were exported to the United States and were “sold” to fraudulently inflate a China-based company’s revenues and deceive investors worldwide. After several years of investigations, scope challenges, circumvention cases, and now the criminal case orchestrated by the U.S. Department of Justice. The jury found the following two aluminium businesses and four warehousing companies, all of which were related to one another – guilty of one count of conspiracy, nine counts of wire fraud and seven counts of passing...
Costa Rica’s import of aluminium household articles during 2019-21 demonstrates balanced growth
Costa Rica in general has a stable economy and a relatively high standard of living. The economy is majorly dependent on tourism and other growing sectors are agriculture and electronic components exports. The country’s GDP growth will recover gradually to 2.5% in 2021 and 3.4% in 2022, supported by strong external demand from Costa Rica's main trade partners. Domestic demand will strengthen in H2 2021, as economic restrictions are gradually withdrawn and the vaccine campaign progresses. The Central American nation with coastlines on the Caribbean and Pacific, Costa Rica imported 1922 tonnes of aluminium household articles during 2019-20 and the expenditure occurred for the imported was accounted to $9.58 million. In 2019, Costa Rica’s import of aluminium household articles was recorded...
Emirates Global Aluminium contemplating to float IPO in 2022
The leader in global aluminium production, as well as one of the largest companies in the UAE, Emirates Global Aluminium (EGA) is considering a prospective IPO in 2022, as reported by industry sources, which could be one of the substantial share sales in the United Arab Emirates lately. Equally owned by Mubadala Investment Company of Abu Dhabi and Investment Corporation of Dubai, EGA is reviewing proposals from banks that pitched for advisory roles, the sources said. However, EGA is yet to comment on this matter. The sources further stated that the aluminium company is considering offering between 10% and 20% of its shares to investors, while initial estimates from banks value the company from $16 billion to $19 billion. One of the sources mentioned, EGA anticipates banks to grasp a fresh...
Kazakhstan’s export of aluminium scraps from 2018-21 exhibits volatile movement
In October 2020, the Government of Kazakhstan has published a draft which mandated to stress the country's ban on scrap metal exports by truck. The barring of exports comprised of used and exhausted pipes, rails, railway elements and rolling stock, but excludes alloyed and resistant steel scrap. However, in October 2018, the measure was enacted to prohibit illegal scrap exports for approx. 500,000 tonnes per year at the time, with a consequential amount of this heading to Russia. It has had no impact on documented shipments by rail, as Kazakhstan and Russian are both members of the Eurasian Economic Union (EEU) and the Eurasian Customs Union. In May 2020, Kazakhstan imposed a ban on scrap exports by rail without any formal announcement, bestowing to a scrap shortage in Russia and...
Canyon resources enforces SPA, MOU with MCC
The Australian Securities Exchange-listed mining company, Canyon Resources Limited has declared the enforcement of a Strategic Partnership Agreement and MOU for the Minim Martap Bauxite Project in Cameroon with Zhongye Changtian International Engineering Corporation of MCC (MCC-CIE), the mining engineering division of global mining giant Metallurgical Corporation of China (MCC). The agreement undertakes the awarding of the bankable feasibility study (BFS) contract for the development of Stage 1 of the Project to MCC-CIE in December 2020. MCC-CIE is part of MCC, a 100% owned subsidiary of China’s Minmetals Corporation. MCC-CIE is one of China’s leading engineering, procurement and construction companies and works extensively with foremost banks in China. MCC-CIE has been the principal...
Malaysian aluminium giant ‘Press Metal’ to enhance production capacity in 2H 2021
The world-class aluminium producer, Press Metal Aluminium Holdings Bhd of Malaysia could take the advantage of the rising LME aluminium spot prices in 4Q, provided that its Samalaju Phase 3 facility is anticipated to be just weeks away from being fully operational. RHB Research pointed: “Samalaju Phase 3 could have been held back for one to two months from Press Metal's initial July target but sees little downside surprises moving forward.” "This will allow 4Q21 to more freely capture the upside in LME aluminium spot prices Vs a hedged sales proportion at 2021F’s $ 2,050/tonne price.” "This is in addition to the widening spread Vs alumina spot prices – Phase 1 of PMAH’s 25%-owned Bintan alumina refinery should come on stream around the same time.” "Hence, amid its slew of successive...
India: Aluminium scrap recyclers in Gujarat urge Govt. to abstain from implementing BIS grade quality import
The leading association that creates awareness and impotence of recycling, metal recycling trade among members, All India Non-Ferrous Metal Exim Association (ANMA), which comprises around 500 aluminium scrap recyclers in Gujarat, has urged the Union government to abstain from enforcing BIS (Bureau of India Standards) quality standards on imported aluminium scrap. On 24 th August 2021, Jayant Jain, the honorary secretary of ANMA during the event of the Annual General Meeting in Ahmedabad, said: “The import duty on aluminium scrap in our neighbouring countries is nil. Our government has imposed a 2.5 per cent import duty on the same. We fear that the government under the influence of larger players in aluminium production might raise this import duty. Why should there be a duty on scrap in...
Qatar’s import of aluminium cans during 2018-20 unveils constant downfall; 145% growth estimated for 2021
According to the latest publication of the World Bank Gulf Economic Update (GEU), which was released with the title “COVID-19 Pandemic and the Road to Diversification”, stated that after a year of economic grief, Gulf Cooperation Council (GCC) economies are expected to return to an aggregate growth of 2.2% in 2021 and Qatar is also a part of this council. This growth is stimulated by the global economic recovery, projected at 5.6% and the revival of global oil demand and international oil prices. The peninsular Arabian nation, Qatar’s primary aluminium producer Qatalum produced 655,300 tonnes of primary aluminium in 2020, as revealed by Gulf Aluminium Council - Special Edition publication and the nation also produces downstream aluminium products. On the segment of aluminium cans for the...
Jamalco refinery fire break out hurls price of alumina at 6 months high
The price of alumina has escalated to its highest in almost six months after a flare-up at the Jamalco refinery in Jamaica leading to the disquiet of restricted supply. On 20 th August 2021, COMEX alumina futures AALc1, assessed free-on-board (FOB) from major producer Australia, which rose to $302.14 per tonne, up from $300.48 a tonne and the highest since 25 th February 2021. The prices of the raw material for aluminium, alumina have been shooting upwards since mid-April despite robust demand for aluminium and disruption in China due to flooding. Noble Group Holdings, the Hong Kong-based firm, which remains as an ally with the Jamaican Government in Jamalco joint venture said: “Major fire" broke out in the powerhouse that produces power, compressed air and steam for alumina-refining...
Cameroon’s import of aluminium stranded wire during 2019-20 reflects robust growth; 50% further growth estimated for 2021
The economy of Cameroon is a mixed economic system that incorporates a variety of private freedom, combined with centralized economic planning and government regulation. The country is a member of the Economic Community of Central African States (ECCAS). The central African nation at the Gulf of Guinea, Cameroon imported 935 tonnes of aluminium stranded wires during 2019-20 and the expenditure accounted for the import was $3.94 million. In 2019, Cameroon imported just 287 tonnes of aluminium stranded wires, with an expenditure counted to $0.96 million, whereas, in 2020, the import saw a robust growth by 125.78%, as the import volume up-surged to 648 tonnes and the expenditure also soared to $2.98 million. The import for 2021 has also been analysed with further growth of 49.53%, as the...
Airbus Safran owned Tarmac Aerosave is the world’s number one aircraft and engine recycling firm; Aluminium among other metals are recovered
The Covid-19 pandemic is not the solitary reason to turn off the keys for the last time of many aircraft. The rise in the environmental impact of flying is another major reason for putting further pressure on airlines to turn off the engine forever for certain aircraft. Modern aircraft are much more efficient and the airlines persist that they the performing everything to reduce emissions pollution, the spotlight is shifting to another eco concern. Early 2000 was the benchmark year when the dying aeroplane was considered to be an issue. The retired aircraft were used to be disposed of like vehicles or crushed or left out for corrosion in uninhabited scrapyards. However, in 2007, a French firm has developed a solution to the problem and at the same time took the edge of a business...
“Hindalco Industries started FY'22 at a strong pace and continues to see a strong demand across business verticals”, says Chairman Kumar Mangalam Birla
On 23 rd August 2021, Kumar Mangalam Birla, the Chairman of the world's largest aluminium rolling company, Hindalco Industries, which stands among the biggest producers of primary aluminium in Asia stated: “The Company has started FY'22 at a strong pace and continues to see a strong demand across business verticals despite the impact of the second wave of COVID-19.” At the 62nd Annual General Meeting, Birla addressed to shareholders: “Despite the pandemic-induced volatility in the business environment, Hindalco marked some significant milestones.” "We continue to see a strong demand across all our business segments, plants running at capacity, and improving margins, supported by better macros and operating efficiencies," he added. In FY'21, Hindalco Industries delivered a remarkable...
SSWL secures supply contract of aluminium and steel wheel from Western Hemisphere
The leading Wheel Manufacturing industry having facilities all over India, Steel Strips Wheels (SSWL) announced that it has inked a memorandum of understanding for around $105 million from Western Hemisphere. The MoU undertakes that SSWL will supply steel and aluminium wheels for a minimum period of three years. However, the supplies of steel wheels will commence from Chennai and Dappar plant by September 2021 and the supplies of aluminium wheels from Mehsana plant will be set in motion by end of December 2021. The wheel production company said: “This shows strong confidence of the customers in SSWL to develop long term strategic partnerships.” SSWL manufactures steel and aluminium wheel rims and caters to the various segments of the automobile industry. The company operates in the...
France export of Aluminium foil to top 5 countries in 2020
Aluminium is considered one of the most abundant metals on earth in the ore stage. Aluminium foil is a paper-thin, shiny sheet of aluminium metal, produced by rolling large slabs of aluminium until they are less than 0.2 mm thick. It has multiple utilities, which incorporates packing, insulation and transportation. At home, people use aluminium foil for food storage, to cover baking surfaces and to wrap foods, such as meats, to prevent them from losing moisture while cooking. In 2020, France exported 70,618 tonnes of aluminium foil globally to around 103 countries, which accounted for revenue generation of $292.40 million, with a 19.04% growth in export volume and a 7.91% surge in earnings respectively on Y-o-Y. The top 5 nations France exported aluminium foils in 2020 are the USA, Italy,...
The rise of bauxite production in Australia, Guinea foresees global production upsurge in 2021: GlobalData
The London, England headquartered data analytics and consulting company, GlobalData’s research unveils that the rise in bauxite production from mines in Australia (+4.1%) and Guinea (+3.6%) is anticipated to propel upswing in global production by 3.8% in 2021 to 372.8 million tonnes. The resilient outlook follows a pandemic confronted 2020 that still stirred out 1.2% more bauxite production at 359.2 million tonnes than in 2019. Vinneth Bajaj, Associate Project Manager, GlobalData, said: “Over the forecast period (2021-2025), global bauxite production is expected to grow at a compound annual growth rate (CAGR) of 2.2% to reach 406,700 tonnes by 2025.” The resumption of operation at Metro Mining’s Bauxite Hills Mine, which remains halted due to wet season, will support Australia’s bauxite...
Aluminium End-user Weekly Recap: RUSAL enhances alloy composition for anodized aluminium facade panels; Mulk Holdings partners with Park International Investments, Silver Heights Real Estate to establish Alubond USA LLC
The aluminium end-user segment globally revealed some positive news majorly from the building and construction sector. The global leader in the production of low carbon aluminium, Rusal declared it has upgraded the alloy composition for anodized aluminium facade panels and this will enhance the quality of building cladding products supplied to the market. On the other part, the UAE based diversified multinational business conglomerate, Mulk Holdings International associated with Park International Investments, Silver Heights Real Estate to establish Alubond USA LLC. Aluminium cans are the 520th most traded product globally and Germany stands in the topside, as the export destination of aluminium cans. In 2020, the Western European nation, Germany, renowned for its industrialization,...
