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.
Weekly end-user recap: DGTR -India endorses finance ministry to impose anti-dumping duty on aluminium foil imports; Airbus, Magellan Aerospace deal for aluminium and titanium structural wing components supply foster North Wales sites
In the global aluminium end-user segment, the week resembled DGTR -India endorsing finance ministry to impose anti-dumping duty on aluminium foil imports from China, Malaysia, Thailand and Indonesia. While in North Wales, Airbus and Magellan Aerospace deal for aluminium and titanium structural wing components supply boosted the site, as the aerospace sector has been considered the worst hit in the pandemic. The South American nation, Peru’s import of aluminium stranded wire during 2019-20 was documented at 17,345 tonnes and the revenue expended for the import remained at $32.04 million. To know more: https://www.alcircle.com/news/perus-import-of-aluminium-stranded-wire-during-2019-20-signifies-express-growth-3-growth-estimated-for-2021-67668 On 21st June 2021, the three-decades-old Aparna...
Aluminium downstream weekly recap: Sanjeev Gupta’s Liberty Aluminium Technologies seeks more time to track down buyers; Midhani’s aluminium alloy plant in Nellore concludes land compensation proceedings
The global aluminium downstream segment observed some important happenings this week, as Sanjeev Gupta’s Liberty Aluminium Technologies seeks more time to track down buyers. In India Midhani’s aluminium alloy plant in Nellore concludes land compensation proceedings, while in the UK, TRA begins a journey with the investigation of Chinese aluminium extrusions anti-dumping case. Vedanta Limited has further reduced its aluminium products prices, although lower than the previous, with effect from Tuesday, June 22. Vedanta has cut its aluminium wire rod price by INR 1,500 per tonne or 0.71 per cent from INR 211,000-218,500 per tonne on June 19 to INR 209,500-217,000 per tonne on June 22. To know more:...
Russian scientists develop unique heat-resistant aluminium alloy, can replace copper conductors in air and rail transport
A unique heat-resistant aluminium alloy with improved durability have been produced by developing technology from the scientists of the National University of Science and Technology “MISiS” (NUST MISIS) in cooperation with their colleagues at the Siberian Federal University and the Research and Production Centre of Magnetic Hydrodynamics (Krasnoyarsk). According to the research team: “This new alloy could replace more expensive and heavier copper conductors in aircraft and high-speed rail transport.” The researchers have developed a process for producing a unique heat-resistant, high-strength wire, which is made from an aluminium alloy, initially cast as a long billet, about 10 mm in diameter, in an electromagnetic crystalliser. They succeeded in deriving a thermally stable structure (up...
British fine food maker Potts’ introduces Mexican cooking sauce duo in aluminium beer cans
The British fine food maker Potts’ is introducing a duo of Mexican cooking sauces packaged in aluminium beer cans. Potts' cooking sauces, gravies, stocks, pour-over sauces, and dessert sauces are perfect for people who crave products with a distinctively homemade taste and authentic ingredients. On 1st July 2021, the new look of Enchilada and Fajita & Taco variants will be available at Tesco supermarkets. The cans feature an “industry-leading” 360-degree lid for dispensing the sauces. Potts’ commented that they could help save five tonnes of plastic per year and would offer a unique product that allowed for ‘better ingredients and quality. In 2019, Potts’ shifted its Beef, Chicken, and Vegetable stock variants from plastic pouches to 500ml aluminium cans – a move it said had already saved...
Peru’s import of aluminium stranded wire during 2019-20 signifies express growth; 3% growth estimated for 2021
The economic output of Peru indicated that it will grow 10% in 2021 and 4.8% in 2022, supported by a favourable external context. However, these forecasts are strongly conditioned to the maintenance of macroeconomic stability by the new government administration and largely reflect a rebound after the sharp output contraction in 2020. The South American nation’s import of aluminium stranded wire during 2019-20 was documented at 17,345 tonnes and the revenue expended for the import remained at $32.04 million. In 2019, the aluminium stranded wire import in Peru was registered at 3856 tonnes and the expenditure occurred for import was $8.97 million, whereas, in 2020, the import signifies an express growth of 249.81%, as the import volume surge to 13,489 tonnes due to rise in demand at the...
Australia: Metro Mining floats $25.5 million equity raise to scale up balance sheet
The Australian exploration and mining company, Metro Mining Limited based in Brisbane, Queensland has floated a $25.5 million equity raise incorporating an arrangement and a pro-rata accelerated non-renounceable entitlement offer. As per the information, approx. 1.6 million shares will be issued at 1.6 cents which represents a 42.86% discount to the last closing price of Metro's shares on 24th May 2021 and a 63.88% discount to the 30-day volume-weighted average price. The arrangement will raise $3.3 million and the one-for-one entitlement offer will raise to $22.2 million. The company's largest shareholder, Greenstone significantly has obligated to take up its consistent interest in the placement and its entitlement under the entitlement offer by investing up to $5 million. Additionally,...
Midhani’s aluminium alloy plant in Nellore concludes land compensation proceedings
The prolonged efforts of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and the revenue authorities have at last brought the conclusion to land compensation issues that had delayed the proposed aluminium alloy plant of Midhani in association with Nalco, which is spread over 110 acres in Bodduvaripalem near Nellore in the state of Andhra Pradesh, India. Furthermore, it is the first defence manufacturing unit of Mishra Dhatu Nigam (Midhani) outside of Hyderabad and the organisation has planned to invest INR 2,000 crore in the production unit, which has the huge potentiality to create employment. The government holds 57.14 acres of land, while the remaining belonged to the Cooperative Joint Farming Society (CJFS). In 1980, this land was allotted to the poor landless people with...
Russia gearing to impose export tax on metal producers, including aluminium with $2.3 billion in Aug-Dec
On 24th Jun2 2921, the officials of the largest country in the world, Russia said that the government is gearing to impose new export taxes for aluminium, steel products, nickel and copper which will cost their producers $2.3 billion between 1st August and 31st. Russia wants to safeguard its defence and construction industries from a further rise in raw materials costs as prices for metals has boomed at a global high level. Andrei Belousov, First Deputy Prime Minister, said: “Our economy is not ready for the kind of avalanche-like shock transfer of global prices to the domestic market that we have seen over the past year.” “The increase in domestic prices for certain metals ranged from 60% to 100%.” Maxim Reshetnikov, Economy Minister said: “Moscow will use the August to December period,...
Switzerland’s export of aluminium container during 2019-20 illustrates a sharp rise; 9% further growth estimated for 2021
The economic outlook of Switzerland rejuvenates with the ease of pandemic cases. According to the Organisation for Economic Co-operation and Development (OECD), the Swiss gross domestic product (GDP) is expected to grow by 3.2% in 2021, upgraded from 2.2% in the previous forecast. The Alpine nation’s export of aluminium containers during 2019-20 was booked at 397 tonnes and the revenue earnings extracted was $6.60 million. In 2019, Switzerland’s export of aluminium containers was recorded at 111 tonnes and the earnings occurred for the export was $0.41 million, whereas, in 2020, the export saw a sharp rise by 157.65% and the earnings surged to $6.19 million. The export for 2021 is estimated with further growth of 9.09%, as the export volume is predicted to rise at 312 tonnes and the...
Australian Bauxite intents for another new and larger mine in Tasmania
The innovative business by Australian Bauxite Limited, which has developed new technologies to improve bauxite application across the aluminium, cement and fertiliser industries has shown the intent of another new and larger bauxite mine at Fingal Rail, near Conara in Tasmania. Since 2015, the bauxite mining company has supplied commodities to the fertiliser and cement industries from its Bald Hill Mine site, near Campbell Town. On 23rd June 2021, Ian Levy, the CEO and Managing Director of the company while displaying a presentation for the Gold Coast Investment Showcase investor event, said: “The company's focus in 2021-22 would include a new long-term mine in Tasmania to produce cement-grade bauxite.” The company is seeking a mining lease from the state government for Fingal Rail. The...
Mubadala Investment Company acquires 2.6% stake in low-carbon aluminium producer En+
The UAE’s sovereign investor Mubadala Investment Company said it acquired a fresh 2.6% stake in Russian aluminium giant and leading low-carbon aluminium producer En+. Mubadala's total ownership in En+, following the deal now stands at 2.86%, which the investment firm stated on 23rd June 2021. However, the value of the deal is yet to be revealed. Faris Al Mazrui, Head of Mubadala’s Russia & CIS Investment Programme, said: “The Company is a market leader in the clean energy and aluminium sectors and will add value to the Abu Dhabi Company’s portfolio in Russia.” Mubadala Investment Company has an asset base of Dh894 billion ($243.6bn) and it has significant stakes in clean energy company Masdar and one of the globally largest aluminium producer Emirates Global Aluminium. A Moscow Stock...
EGA in talks with banks to refinance $6 billion loan it secured in 2019
The world’s largest premium aluminium producer, Emirates Global Aluminium is in discussion with banks to refinance and transpose the terms of a loan of about $6 billion it secured in 2019, as reported on 23rd June 2021 by close references on this matter. The references stated that the UAE based company equally owned by Abu Dhabi state fund Mubadala and the Investment Corporation of Dubai is soliciting to elongate the tenor and lower the pricing of the seven-year loan through a refinancing facility to grab the benefit of low rates. However, the aluminium company said: "EGA is fortunate to have a large relationship bank group who support our business. We are always looking at ways to optimise our financing arrangements.” The fundraising effort comes as borrowers in the Gulf region endeavour...
Black Sea Trade and Development Bank dispensing $40 million loan to ALRO for energy and VAP capacity enhancement
On 23rd June 2021, the Black Sea Trade and Development Bank (BSTDB), the international financial institution serving the eleven-member founding countries of the Black Sea Economic Cooperation, stated that it is dispensing a $40 million loan for a capital investment programme.to Romanian aluminium producer Alro, which is a part of Vimetco Group. BSTDB said: “The seven-year loan will be used primarily for improving the company’s energy management performance, as well as high value-added production capacity.” The total cost of the project amount to approx. $95 million and also financed by Romanian and international commercial banks. Dmitry Pankin, President of BSTDB said: "Given the positive outlook for the economy, we believe the company will be able to meet increased domestic demand and...
Argentina’s import of aluminium foil during 2019-20 displays nominal growth; 2021 projected with minimal dip
BBVA Research, which is considered as a benchmark for research and economic analysis in different countries in the Americas, Europe and Asia stated that the economy of Argentina after falling 9.9% in 2020, is recovering faster than expected. Nevertheless, the rebound is heterogeneous across sectors. The health situation remains challenging, in 2021 also marked by the mid-term elections in October. The South American nation, Argentina records importation of 22,506 tonnes of aluminium foil during 2018-19 and the expenditure occurred for the import accounted for $107.82 million. In 2019, Argentina’s import of aluminium foil was registered at 11,251 tonnes and the expenditure remained at $54.37 million, whereas, in 2020 the import displayed a nominal growth of 0.03%, as the import volume...
Hydro alumina refinery ‘Alunorte’ secures license to operate advanced bauxite residue deposit in Brazil
Hydro’s alumina refinery in Barcarena, Brazil which processes bauxite from its mine in Paragominas, also in Pará state has secured the license to operate the deposit called DRS2, after the installation phase and all commissioning tests are approved by environmental agencies. The DRS2 deposit area is for the storage of bauxite residue left over from the processing of bauxite into alumina, which is the main raw material for making aluminium. On 21st June 2021, the operating license of the solid residue deposit area was issued. DRS2 is a long-term solution for the alumina refinery operation and fundamental for continuity of the aluminium value chain in the State of Pará. A new press filter technology is used at Alunorte that generates residue of about 78% solid content, which permits for...
Odisha coal block allotment will improve power availability and strengthen aluminium operations, says Vedanta
On 22nd June 2021, Vedanta stated that the coal block which has been allotted would deliver fuel security, enhance power availability and also strengthen the aluminium operations, once it gets fully functional. Vedanta released the statement immediately after it emerged as the successful bidder for the Kuraloi (A) North coal block located in Jharsuguda district, Odisha. The coal block was put up for re-bidding in the second auction of blocks for commercial mining. The company commented in a filing to BSE: “We wish to inform you that Vedanta Ltd has been awarded the Kuraloi (A) North coal block, located in Jharsuguda district, Odisha. Once operational, it will provide fuel security, improve power availability and further strengthen the company's aluminium operations and performance." The...
UK: TRA begins journey with the investigation of Chinese aluminium extrusions anti-dumping case
The UK body that investigates whether new trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports, Trade Remedies Authority has begun its first investigation in response to an application from a UK industry. On 21st June the case was initiated. Trade remedy investigations were carried out by the EU Commission on the UK’s behalf until the UK leaving the EU, now TRA will investigate whether aluminium extrusions are being dumped in the UK by businesses in the People’s Republic of China. Aluminium extrusions are heavily demanded in the manufacturing segment, like heavy equipment, as components for infrastructure projects like mining, oil and gas, chemical and refinery equipment. They can also be found in windows, doors and railings, cars, buses and...
Sanjeev Gupta’s Liberty Aluminium Technologies seeks more time to track down buyers
Sanjeev Gupta’s distressed metal empire that counters the threat of administration has requested its bankers to give more time, as it is trying to negotiate with four potential buyers. The supplier of cast components to Jaguar Land Rover, Liberty Aluminium Technologies could be enforced by the administration within few days, if its primary bank, Close Brothers does not deliver more time. The Group’s Chairman, Sanjeev Gupta has been openly seeking buyers for a portion of his GFG metals empire since May 2021, as he aspires to prevent the collapse of his GFG Alliance, which could threaten thousands of job loss around the world. GFG shoved into crisis in March 2021, following the collapse of its biggest lender, Greensill Capital. Credit Suisse, Greensill’s former backer is now pressurizing to...
