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.
Norsk Hydro posts record results for Q2 2021, confers credit to continued positive market sentiment
The Norwegian Aluminium company and renewable energy company and also one of the largest aluminium companies worldwide, Norsk Hydro ASA posted Q2 2021 adjusted EBITDA of NOK 6,598 million, up from NOK 2,794 million in the same quarter previous year. The continued global economic recovery is supporting increased demand for aluminium and aluminium products. Hydro Aluminium Metal and Hydro Extrusions business areas reported record quarterly results. The rise in all-metal prices and volumes in aluminium metal, improved margins and volumes in Extrusions and better results from Hydro Energy contributed positively to adjusted EBITDA. These positive elements were partly offset by higher raw material costs upstream and negative currency effects. The Q2 reflected a continuation of the global...
Odisha, India: Chief Minister Naveen Patnaik inaugurates India’s first zero-discharge aluminium dross processing unit
On 22nd July 2021, India’s projected aluminium hub, Odisha’s Chief Minister Naveen Patnaik inaugurated India’s first zero-discharge aluminium dross processing unit in Jharsuguda. The facility has been developed up by Runaya Refining LLP. In 2019, Mr Naveen Patnaik laid the founding stone of the Refining project, however, it is a spearheading facility for the treatment and processing of aluminium dross. Speaking at the ceremony, Naveen Patnaik, Chief Minister of Odisha said: “Odisha is fast emerging as the manufacturing hub of Eastern India and has enabled the growth of industries in the state. We have always endeavoured to provide a hassle-free and smooth business environment for the investors in Odisha. I congratulate everyone on this auspicious occasion and assure continued facilitation...
Iraq’s import of aluminium foil during 2018-20 illustrates prompt growth with a gradual downfall; 18% upswing forecast for 2020
The Iraqi analysts who support their country stated that Poverty, unemployment, and a lack of local industry continue to plague Iraq's economy, and the resulting public unrest could be dangerous. Oil price volatility and COVID-19 have increased Iraq’s economic distress and deepened existing economic and social fragilities. However, with global oil markets trends turning positive, the outlook for Iraq is set to improve. The political situation in Iraq remains extremely unstable, even though the war was officially declared as over in December 2017. The Western Asian nation, Iraq has imported 21,534 tonnes of aluminium foil during 2018-20 and the foreign revenue expended for the import accounted for $51.63 million. In 2018, the Iraqi import of aluminium foil was recorded 2282 tonnes only and...
Car manufacturers need to boost up the standard in their aluminium supply chain, says Human Rights Watch and IDI
The global car manufacturing companies are required to do more to address the exploitation of human resources in their aluminium supply chains and the bauxite mines, including the destruction of farmland, damage to water sources and excessive greenhouse gas emissions that affect communities in Africa, Asia and South America they source from, as reported by Human Rights Watch and Inclusive Development International. In 2019, the carmakers used nearly a fifth of all aluminium consumed worldwide, while it is predicted by 2050 the consumption of aluminium will double in volume, as the car industry’s transitions to electric vehicles. The 63-page report “Aluminium: The Car Industry’s Blind Spot – Why Car Companies Should Address the Human Rights Impact of Aluminium Production,” chronicles the...
The Gulf Aluminium Industry: A legacy of 5 successful decades, 6 aluminium smelters
In 1971, Aluminium Bahrain initiated its operations and produced the first aluminium ingot in the whole of the Gulf region, flagging the inception of a program of industrial diversification which was considered as bright and aspiring. At present, GCC countries are listed proudly to be the home to some of the largest, ultra-modern, state of art technology-driven and environmentally friendly Aluminum production facilities. The success stories of primary aluminium production have made way for the commencement of many aluminium downstream industries and a variety of revolutionary ancillary businesses. Together the whole industry contributes to the region's economic affluence and adaptability. The industry commenced from an elementary capacity of 120,000 tonnes of primary Aluminum per annum to...
Cosmos Aluminium awarded ‘Protagonists of the Greek Economy' for its strong financial performance in the last decade
On 19th July 2021, the organizations that emerge for their financial performance during 2010-2020 were honoured at the Awards Ceremony for the Greek business, "Protagonists of the Greek Economy", organized for the sixth time by the Direction Business Network. The awards were honoured based on the official financial data of the companies as reflected in their financial reports and are presented in detail in the publication "The Strong of the Greek Economy", which has just been released and is also dedicated to the decade 2010-2020. The Greek aluminium extrusion company, COSMOS ALUMINUM SA, with the high performance it has shown in the past decade, deservedly is among the elite of the companies that stood out. COSMOS ALUMINUM SA was also awarded the Solidarity Excellence Award for its...
Turkey’s export of aluminium stranded wires during 2019-20 exhibits upsurge; 1% dip forecast for 2021
According to Reuters’ quarterly poll, Turkey’s economy will augment at the rate of 5.5% annually in 2020, which is more than previously thought and close to a government forecast, although it will be a sturdy battle countering double-digit inflation in coming years. The nation spanning Western Asia and Southeast Europe, Turkey exported 52,966 tonnes of aluminium stranded wires during 2019-20 and the revenue earned from the export of the wires accounted for $121.45 million. Turkey exported 19,856 tonnes of aluminium wires in 2018 and made inflowing revenue of $50.21 million, whereas, in 2020, the export exhibited 66.75% growth, as the export volume up-surged to 33,110 tonnes and the earnings also climbed to $71.24 million. As aluminium yields a better conductivity to weight ratio than...
AIP, Sanjeev Gupta board spat for Alvance Aluminium Duffel worsens
The US private equity group American Industrial Partners (AIP) board spat with British industrialist Sanjeev Gupta has gone to worst. Gupta was displaced from Alvance Aluminium Duffel earlier this month and now he has successfully fought in court to be appointed back to the board on 14th July 14. Though it’s an impermanent win for Gupta, it gives him time to fetch a solution with lenders, who are trying to overtake his assets. As per the sources, on 14th July 2021, the Antwerp, Belgium based commercial court reinstated Sanjeev Gupta as head of the Alvance Aluminium Duffel BV unit. However, as of yet, there has been no comment from both parties on this issue. The American equity firm stands as the main lender to the Duffel plant, which also stressed the company into administration in the...
Auto companies are using more aluminium for transit to EVs, Bharat Forge too gears up
The global automotive industry is countering a lot of disarrays, counting stricter regulations on emissions steering automakers to switch to the electric vehicle segment. India’s leading manufacturer and exporter of auto components, stated in its annual report: “2021 will be the year electric vehicles (EVs) will take centre-stage.” According to Million Insights, a California-headquartered market research firm said in May’20: “The EV market is expected to be valued at over $1.2 trillion by 2027. The growth can be imputed to the number of government initiatives across the globe to promote the adoption and manufacturing of EVs.” While according to International Energy Agency (IEA) in its annual global EV outlook report, released in April 2021, said: “The global electric vehicle stock...
Moving towards green industry, Mytilineos signs final contract with PPC for power supply to Aluminium of Greece
The Greece-based industrial conglomerate MYTILINEOS made public the signing of the agreement with PPC for power supply at its metallurgy business unit Aluminum of Greece. The agreement denotes the magnificent liaison of the two leading companies of Greece and their commitment to competitive electricity costs for the energy-intensive industry, in the context of the national industrial policy to safeguard the competitiveness of Greek companies for the benefit of the national economy. Following the 60 years of uninterrupted cooperation, this will be the final contract of the two companies, as Mytilineos is highly committed to the framework of its strategy for sustainable development to reduce emissions by 30% in all its activities by 2030 and to achieve climate neutrality by 2050....
Bauxite miner Metro Mining stands short of capital raise in the retail segment
The Brisbane based Australian exploration and mining company, Metro Mining (MMI) stood short of capital raise by around $8.64 million in the retail segment of a $25.5 million capital raising plan. The Bauxite Hills flagship project operating company planned to raise just over $15 million from retail investors through a one-for-one entitlement offer, but on 21st July 2021, Metro Mining said that investors subscribed for just under $6.5 million worth of shares. However, the mining company revealed that initial applications under the offer came in at $4.2 million, with another $2.29 million raised under a top-up facility as part of the capital-raising plan. Metro Mining has successfully raised around $17 million of its planned total, apace an institutional placement and entitlement offer...
South Africa: The multi-million dollar aluminium cans export market during 2018-20 unfolds enterprising growth followed by a downfall
As per the data revealed by Organisation for Economic Co-operation and Development (OECD), the South African economy is projected to rebound by 3.8% in 2021 and 2.5% in 2022. The powerful rebound at the end of 2020 has decelerated in the first half of 2021 due to a protracted second wave of the Covid-19 that has held back economic activity. The growth is projected to pick up in the second half of the year, driven by domestic demand and commodity exports. Africa’s third-largest economy, South Africa exported 64,021 tonnes of aluminium cans during 2018-19 and the foreign revenue earnings accounted for from the export was $1.206 billion. The export for 2020 remained at 28,876 tonnes and the earnings occurred was $561.22. However, when the export volume and earnings of 2020 get assorted with...
Hulamin restarts functioning after unrest torment South Africa
The South African manufacturer of specialised rolled aluminium products, Hulamin, stationed in Pietermaritzburg, KwaZulu-Natal announced that it has restarted operations after unrest tormented the country. On 12 th July 2021, the world's ultra-high-end aluminium products maker suspended its operations after the nationwide unrest following the arrest of former President Jacob Zuma. In the latest update, Hulamin said: “Property loss had been limited to the theft of a few small non-critical items and minor damage to infrastructure.” However, the group further added that from 16 th July 2021, the company resumed its operations. The company said to its shareholders: “A sense of calm prevails as Pietermaritzburg gradually returns to normal. The company acknowledges and appreciates the efforts...
Runaya bags bronze at the prestigious Asia-Pacific Stevie Awards 2021
On 20th July 2021, the aluminium dross recycler, Runaya bags a Bronze Stevie in the Innovation in Energy & Sustainability category for its breakthrough solution for mineral waste processing in Mumbai. One of India’s rapidly growing manufacturing start-ups, Runaya proudly announced that it has been named the winner of a Bronze Stevie® Award in the Innovation in Energy & Sustainability category at the 2021 Asia-Pacific Stevie Awards. Runaya is recognised with the prestigious Stevie Award for its efforts towards promoting a circular economy in the resources sector. Runaya runs a sustainability and metal recovery project, which is currently operating in Jharsuguda, Odisha, where 100% of Aluminium dross is processed into value-add products. The dross recycling facility at Jharsuguda is a...
En+ Group reveals 2020 sustainability report
On 20 th July, the world’s largest producer of low carbon aluminium, En+ Group published its 2020 sustainability report. The report is stuffed with details of achievements over the 12 months to 31 December 2020, tracks the progress of ongoing initiatives and programmes, and delineate significant short-term sustainability targets and long-term ambitions. Furthermore to restating En+ Group’s ongoing commitment to continuous ESG performance improvement, the report also outlines two industry-leading developments announced in early 2021, out of them one is the development of the world’s lowest carbon aluminium from inert anode technologies, while the other is Company’s stated ambition to achieve net-zero emissions by 2050. En+ Group’s 2020 highlights include: A total social investment of $71...
Bulgaria’s export of aluminium tubes and pipes during 2018-20 reflects steady movement; 17% further rise projected for 2021
The economy of Bulgaria is set to recoil from its Covid-19 induced contraction in 2021. Household and capital spending should inflate solidly, while development in global demand should support the external sector. However, the heightened general uncertainty and a prolonged health crisis pose key downside risks. FocusEconomics panellists see the economy expanding 4.2% in 2021, which is unchanged from last month’s estimate, and 3.6% in 2022. The Balkan nation in south-eastern Europe, Bulgaria exported 22,340 tonnes of aluminium tubes and pipes during 2018-20 and the revenue generation occurred for the export accounted for $53.47 million. Bulgaria exported 4768 tonnes of aluminium tubes and pipes in 2018 and the earnings booked was $11.53 million, whereas, in 2019, the export developed...
Aluminium’s positive market trend drives AMAG to increase its earnings forecast for 2021
The biggest company in the Austrian Aluminium industry sector, AMAG Austria Metall AG increases its earnings forecast for the current financial year predominantly due to the ongoing positive market trend of primary aluminium. The premium supplier of high-quality aluminium cast and flat-rolled products, AMAG has an integrated plant in Ranshofen, Austria which enables the combination of core competencies in recycling, casting, rolling, heat treatment and surface finishing uniquely. AMAG stands as a world leader in recycling, with an average of 75-80% recycled material in the input material. Now taking into consideration, the positive earnings development in H1 2021 and on-ground actual estimates for H2 2021, the AMAG management board expects an EBITDA between €155 and €175 million for the...
Alumil bags “Diamonds of the Greek Economy 2021” award
The Greek aluminium architectural system developer, Alumil's slogan is 'building excellence every day', which outlines every aspect of the company's activities. Lately, Alumil received special recognition at the event of 'Diamonds of the Greek Economy 2021'. In 2020, during the 18 th edition of the annual forum, the healthiest and fastest-growing companies of the country were awarded. In a more specific way, these organizations stood out among the 10,000 most important companies, based on 5 economic indicators. ALUMIL is considered as the leading power for more than 3 decades in the field of aluminium applications, which received an honorary distinction for its several innovative business activities in Greece and in the international market. This award complemented the significant...
