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.
Sanjeev Gupta’s GFG Alliance avoids collapse of Liberty Aluminium Technologies with £10 million loan repayment
The British industrialist Sanjeev Gupta has made a deal to avoid the collapse of Liberty Aluminium Technologies, the key supplier to Jaguar Land Rover, the car manufacturer. As per our latest information, Gupta's GFG Alliance has repaid around £10 million in loans from Close Brothers to Liberty Aluminium Technologies (LAT), one of its UK subsidiaries. The loan repayment has taken place in the last few days; however, it remains gloomy to know how the repayment amount was secured. The loan repayment will support the short-term future of Liberty Aluminium Technologies and prevent the chances of the company’s collapse. The repayment news was revealed, following Sanjeev Gupta’s announcement that he would not appear before MPs, which was planned next week as part of their inquiry into the...
Ingrid Jörg replaces Emilio Braghi as the new Chair Person of European Aluminium Association
Europe’s single voice for the entire aluminium value chain, European Aluminium Association notified that Ingrid Jörg, President Aerospace and Transportation at Constellium, has been appointed as Chair Person of the association starting on 1st July 2021. European Aluminium represents more than 85 members with over 600 plants in 30 European countries, covering primary and secondary production as well as semi-fabrication. Ingrid Jörg will take over from Emilio Braghi, Senior Vice President and President at Novelis Europe, who chaired the association from January 2019 to June 2021. Mr Braghi served an extended term to support the planned transition to a new Chair during the COVID-19 crisis. Ingrid Jörg on being elected said: “I feel privileged to be elected Chair of European Aluminium, an...
Metso Outotec bags contract from NALCO to supply bauxite grinding package at Damanjodi alumina refinery
The global frontrunner in sustainable minerals processing technologies, end-to-end solutions, and services, Metso Outotec has secured a contract for the engineering and delivery of bauxite grinding package to National Aluminium Company’s (NALCO) Damanjodi Alumina Refinery as part of NALCO’s fifth stream expansion project in Odisha, India. Generally, this type of order values around €12-15 million or $14.2-17.8 million, while the order has been booked in the company’s minerals division for the June quarter. Metso Outotec’s delivery comprises the basic design of bauxite silos and engineering and supply of two ball mills with a capacity of 434 t/h each, apron feeders, agitators, slurry pumps, instrumentation, as well as site advisory services. Kamal Pahuja, President of, Middle East, and...
Japan’s export of aluminium scrap during 2019-20 illustrates healthy growth; 2021 estimated with 34% rise
The Japanese economy is expected to grow and avoided skidding into recession this quarter but an extension of emergency measures to stem a rise in coronavirus infections has dented the growth outlook, a Reuters poll reflected. The island country in East Asia, located in the northwest Pacific Ocean, Japan has recorded an export of 475,502 tonnes of aluminium scrap during 2019-20 and the revenue generation occurred due to the export was $499.77 million. Japan’s export of aluminium scrap in 2019 was booked at 220,763 tonnes and the earnings accounted remained at $228.60 million, whereas, in 2020 the export saw a rise by 15.39%, as the export volume grew to 254,739 and the earnings pumped to $271.17 million. The export for 2021 has been analysed with further growth of 34.14%, as the export...
FYI Resources engages Socialsuite to establish and maintain a tailored ESG reporting platform
The Australian listed resources company, FYI Resources, which is focused on developing an innovative and vertically integrated high quality, high-purity alumina for use in various high growth tech applications has developed an independent environmental, social, and governance (ESG) reporting platform to centralize the company’s ESG data and assist in managing key metrics. FYI has engaged Socialsuite, the globally acknowledged ESG impact monitoring technology company to establish and maintain a tailored reporting platform, following the awarding of an excellent independent ESG rating and to pursue building on its ESG credentials. The ESG platform will serve the company to effectively measure, monitor, and report on its ongoing ESG progress. FYI will monitor and track its ESG progress...
India: DGTR recommends imposing of anti-subsidy duty on aluminium wires import from Malaysia for five years
The commerce ministry of India has been recommended for the imposition of anti-subsidy duty on certain types of aluminium wires imported from Malaysia for five years. This is a movement focused on safeguarding the domestic players from imports that are subsidized in Malaysia. Directorate General of Trade Remedies (DGTR), the finance ministry’s investigation arm in its detections after a probe stated that imposition of definitive anti-subsidy duty is required to counterbalance subsidization. DGTR said in a notification: "The authority recommends imposition of definitive countervailing duty for five years." “The authority considers it necessary to recommend imposition of the duty on the imports”, it added. However, the finance ministry takes the final call on the imposition of the duty. The...
ELYSIS commences construction of commercial size prototype cells at Rio Tinto’s Alma smelter in Quebec
On 29th June 2021, the construction of the first commercial-scale prototype cells of ELYSIS’ inert anode technology commences at Rio Tinto’s Alma smelter in Saguenay-Lac-Saint-Jean, Quebec eliminating all direct greenhouse gases from aluminium smelting, which is considered a major step forward. The Honourable Francois-Philippe Champagne, Minister of Innovation, Science and Industry joined representatives from ELYSIS, Alcoa and Rio Tinto to mark the commencement of construction and announce a further $20 million financial contribution from the Government of Canada to support the project. The federal government's financial support will enable the creation of a unique commercial size inert anode technology showroom for future customers and will help develop the supply chain by involving...
Sweden’s export of aluminium scrap during 2019-20 reflects a marginal growth; 2021 estimated with further minimal rise
The economy of Sweden is regaining its movement, with projected GDP growth close to 4% in 2021 and 3½% in 2022, on the back of rising exports, which boost manufacturing production and investment, and strong fiscal and monetary support. The Scandinavian nation with thousands of coastal islands and inland lakes, Sweden recorded 290,813 tonnes of aluminium scrap export during 2019-20 and the earnings raised from the scrap export remained at $236.26. In 2019, the country’s aluminium scrap export was registered at 143,678 tonnes and the earnings accounted for $127.95 million, whereas, in 2020, the export saw a rise by 2.40%, as the export volume grew to 147,135 tonnes, while the earnings plunged to $108.31 million. The export for 2021 is predicted with a further minimal rise by 0.07%, as the...
India’s leading metal producer ‘Vedanta’ floats INR 500 per tonne discount on aluminium and other commodities for the MSME sector
The leading metal producer of India, Vedanta Limited has floated an attractive offer for Micro, Small and Medium Enterprises (MSMEs) in the manufacturing industry observing the World MSME Week. As per the promotional statement, under the company’s Vedanta Saathi programme MSMEs can obtain a discount of INR 500 per tonne on the first 500 tonnes of purchase in Aluminium and on other company produced commodities, on a first come first served basis, while it has been highlighted that scheme will be active for this week only, ending 3rd July 2021. The eligibility criteria to avail this offer, MSMEs must have manufacturing operations in the metals business, with an actual manufacturing setup and must possess Udyog Aadhaar Number (UAN) and Registration Certificate. ''To avail the scheme and get...
Nigerian pride in aluminium profiles ‘ALEX’ declares resignation of 3 directors from its board
The Board of Directors of Aluminium Extrusion Industries Plc (ALEX), the Nigerian pride in aluminium profiles has announced the resignation of three Non-Executive Directors from its Board. Aluminium Extrusion Industries Plc is a leading manufacturing company in Nigeria producing and marketing extruded aluminium products. According to a notification delivered to the Nigerian Exchange Group Limited (NGX) and picked out by Nairametrics, the affected Directors are Jinesh Chandra Dugad, Vivek Goel and Prasanta Kumar Ganguly. The Board meeting that was held on 20th March 2021 in line with statutory procedures deliberated on the requests by the aforementioned Directors to resign from their positions and approval was granted eventually. Subsequently, it is relevant to note that the resignation of...
Russia imposes an export tariff of 15% plus $254 per tonne on aluminium
The Russian government’s press service has confirmed that the aluminium produced in Russia will be imposed with an export duty of 15% plus $254 per tonne from 1st August through 31st December. On 25th June 2021, Russian Prime Minister Mikhail Mishustin signed an official decree towards the approval of export duties on 340 non-ferrous and steel products. Primary aluminium, under harmonized system code 760110, will also be taxed. Products like aluminium bar, rod and profiles were not targeted, while some specific aluminium alloys were included in the list. The export tariff bears a 15% base rate and a specific rate of $254 per tonne. In recent years, Russia is not very much considered a major supplier of primary aluminium to North America. Alternatively, it had been selling mainly...
French Polynesia’s import of aluminium cans during 2018-20 displays gradual growth with a downfall
The French Polynesian economy has been heavily impacted by the COVID-19 crisis, due to its reliance on international tourism. It was able to rebound strongly after being previously impacted by the Global Financial Crisis and had experienced a long period of continuous growth. The French overseas territory with significant political autonomy, French Polynesian has recorded import of 1426 tonnes of aluminium cans in 2018-19 and the expenditure occurred for the import accounted to $5.61 million. The import for 2020 stood at 596 tonnes and the expenditure remained at $2.51 million. However, when the import volume and expenditure of 2020 gets assorted with the existing two years, it denotes 2022 tonnes and $8.12 million respectively. In 2018, the import of aluminium cans was registered at 608...
The wait is over, AlCircle Expo 2021 goes live!
The wait is over, the day has come, AlCircle Expo 2021 goes live today at 9:00 AM GMT. We are electrified to welcome the global aluminium value chain associates under one roof. AlCircle Expo 2021 is a virtual platform where you can expand your business networks, meet and greet old and new clients, explore new business ideas and share success stories. So travel restriction should not be a concern now? Experience a real live event at AlCircle Expo 2021. Given below is the final list of exhibitors & sponsors of AlCircle Expo 2021: If you have not registered so far for AlCircle Expo 2021, hurry up and visit https://live.alcircleevents.com/registration/99163627/5 to register now to attend the event. The registration process is still open and is FREE. AlCircle Expo 2021with more than 1000+...
NALCO books nine-fold leap in Q4 profit INR to 935.74 crore
On 28th June 2021, National Aluminium Co Ltd (Nalco), one of the largest integrated primary producers of aluminium in Asia has reported a nine-fold leap in consolidated profit at INR 935.74 crore for the quarter ended 31st March 2021, powered by strong operational performance and favourable prices. While filing to BSE, Nalco said: “The Company had posted a consolidated profit of INR 100.51 crore in the year-ago period.” The company owned by the Ministry of Mines, Government of India, Nalco’s consolidated income rose to INR 2,874.47 crore when compared to INR 2,042.27 crore in the year-ago period. Sridhar Patra, CMD, Nalco said: "After the peak period of COVID-19 outbreak and with the opening of the markets, we witnessed a significant recovery in the second half of the financial year of...
“Major restructuring will allow to pay back creditors”, says GFG Alliance
On 28th June 2021, Sanjeev Gupta-owned GFG Alliance stated that it is advancing towards a major restructuring, which will allow it to pay back creditors, following the collapse of its principal lender Greensill Capital in March. The statement added: “This, in turn, will allow GFG to refocus its business, protect jobs and develop further its remaining assets.” The commodity group has been under stress to look out for refinancing its cash-starved nexus of businesses in aluminium, steel, and energy after lending firm Greensill filed for insolvency. Sanjeev Gupta’s GFG said: “The Company had agreed on a framework with Greensill Bank’s administrators for positive direct engagement to achieve an amicable resolution.” The announcement came following GFG and Credit Suisse said in the previous...
GSIA seeks Govt. of India’s intervention in price surge of raw materials denting MSME sector, including aluminium
The steep rise in raw material prices is denting micro, small and medium enterprises (MSMEs) and govt. of India should entail immediately to intervene through policy decisions, said Goa State Industries Association (GSIA). Along with 170 MSME associations across India, GSIA has written to Narendra Modi, the Prime Minister of India, articulating disquiet over the unstable situation that can seed a permanent dent in the Indian MSME sector. The sector bodies have enlightened the government that despite the demand plunge due to lockdown restrictions in multiple states, prices of raw materials, especially aluminium among others are soaring. The associations have joined under the roof of the All India Council of Association of MSMEs (AICA) and have written to the Prime Minister seeking his...
Qatar’s export of aluminium scrap during 2018-20 demonstrates ‘V’ shaped development
The economy of Qatar will regain its positive growth of 2.9% in 2021, as the economy benefits from a recovery in Chinese and global LNG demand, as well as the rapprochement with the former boycotting quartet Saudi Arabia, the UAE, Bahrain and Egypt. The peninsular Arab nation’s export of aluminium scrap during 2018-19 was recorded at 10,605 tonnes and the earnings posted for the export was $9.39 million. The export for 2020 remained at 6498 tonnes and the earnings stood at $8.67 million. However, when the export volume and earnings for 2020 gets assorted with the existing two years, it denotes 17,103 tonnes and $18.06 million respectively. Qatar’s export of aluminium scrap in 2018 was registered at 6594 tonnes and the earnings accounted was $7.35 million, whereas, in 2019 the export saw a...
Sri Lanka’s largest cable manufacturer ‘Sierra Cables Group’ escalates all-time financial result in FY21
Sri Lanka’s largest and the most outstanding aluminium and copper cable manufacturer with footprints in international markets has recorded an escalation in all-time revenue generation of Rs. 5.2 billion, an upswing by 7% from the previous year. The Group also booked the highest ever profit after tax (PAT) of Rs. 314 million up 37.4% from FY20. The cable company said: “The financial performance underscores the group’s ability to maintain a healthy Gross Profit margin (GP) of 15.6% and Net Profit margin (NP) of 5.7%.” “This is a commendable performance considering the prevailing pandemic and turbulence environment that the company had to operate in.” The revision to the company’s national long-term rating to AA- (lka) manifested as an encouraging exposure that gained the stakeholder...
