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.
Indian Union Territory Ladakh bans usage of plastic water bottles in Govt. offices; alternative like Aluminium bottles can be used
On 24 th June’20, an official spokesperson said that a big step to realise the long term goal of 'carbon neutral Ladakh', the Union Territory administration has ordered a complete ban on the use of plastic water bottles and other plastic made objects in government offices and other institutions. The target and timeline for a phased ban would be 100% of plastic bottles by 15 th July’20 and 100% of plastic files and folders by July end, the spokesman said, quoting an order issued by Commissioner Secretary Finance and General Administration Department, Ladakh, Rigzian Sampheal on 23 rd June’20. The order details that all government offices, boards, corporations, autonomous bodies or units, educational institutions including universities would dispense with the use of plastic water bottles in...
Bank of Ghana Governor rejects hiding information of mineral export proceeds, including Bauxite
Dr Ernest Addison, Governor of the Bank of Ghana (BoG), has told the Public Accounts Committee (PAC) of Parliament that the central bank does not hide information about proceeds accrued from the exportation of minerals including bauxite. Mr James Klutse Avedzi, the Chairman of PAC, raised the issue of bauxite receipts on 24 th June’20 during the Committee’s interaction with the central bank Governor after one member claimed that the bank had not disclosed some bauxite receipts. Dr Addison, while countering the issue said: “We have always disclosed how much we receive from all exports. It might not be in the statement of foreign exchange receipts and payment of the Bank of Ghana, but for the banking system as a whole, we do that in the balance of payment.” He added: “Bauxite is reflected...
Quebec's Minister of the Economy: “No reason for the US to impose tariffs on its imports of aluminium from Canada”
Pierre Fitzgibbon, Quebec's Minister of the Economy said that he is "convinced" that there is no reason for the United States to impose tariffs on its imports of aluminium from Canada. On 23 rd June’20, he said: “Such tariffs would harm our savings; our green aluminium has always allowed a stable supply to the American market. We will continue to defend the interests of our aluminium industry.” The U.S. economic news agency has reported that the Trump administration could impose 10% tariffs on its imports of Canadian aluminium as early as 26 th June’20. Aluminum Association of Canada spokesperson Jean Simard says he is "disappointed" but not "surprised". He said: “What I think is speculative is that we will find ourselves in the situation before the tariffs were lifted. The Americans are...
“Self-Reliant India”: RoDTEP scheme can be a “Game-Changer” in boosting exports, benefit to Aluminium industry
On 14 th September’19, the Finance Minister of India, Nirmala Sitaraman announced Remission of Duties or Taxes on Export Products (RoDTEP). The scheme is progressive towards boosting exports and employment generation in various sectors in the country. The RoDTEP scheme will replace the existing Merchandise Exports from India Scheme (MEIS). INR 50,000 Cr. budget provision was kept for RoDTEP by Finance Minister. The Indian cabinet approved RoDTEP Scheme on 13 th March’20. RoDTEP scheme is WTO compliant, will reimburse taxes/duties/levies at the central, state and local level, which are currently not being refunded The sequence of introducing the scheme across sectors, prioritization of the sectors to be covered, degree of benefit to be given on various items within the rates set by the...
Croatia’s Aluminium scrap exportation market reflects robust growth during 2017-20
The economy of Croatia is a developing high-income service-based economy and with the tertiary sector accounting for 60% of total gross domestic product (GDP). The Croatian economy is one of the strongest economies in Southeast Europe. COVID-19 Pandemic has caused more than 400.000 workers to file for a minimum net wage of 3,250 HRK given by the Government of Croatia as an aid to firms and companies for them not to fire their workers. The export goods of the nation comprise of transport equipment, machinery, textiles, chemicals, foodstuffs, fuels. Croatia’s aluminium scrap export data reveals that during 2017-19 the export volume reached to 88,826 tonnes and the revenue earned stood at $90.80 million. The projected export volume for 2020 has been analysed at 42,002 tonnes and the revenue...
“COVID-19” outbreak: IMF endorses $148 million emergency credit to Bauxite mining nation Guinea
The International Monetary Fund (IMF) has endorsed $148 million in emergency credit to Guinea to strengthen its economy as the COVID-19 pandemic persistent to ransack the global economy. The fund would support to brace the economy after a hard-hit from the pandemic that is weakening the nation’s mining sector. According to the IMF, “worsening global conditions and a rapidly spreading local outbreak have deteriorated Guinea’s short-term growth prospects and hindered mining exports and tax revenues.” However, local transmission of the virus has brought about a reduction of mining activities, causing a stunt in economic growth. This latest IMF fund will help scale up productions and boost revenue generation for the West African country. In 2017, the IMF approved the use of $650 million to...
Assan Aluminyum stands for Biodiversity Conservation Project
On World Environment Day, Assan Aluminyum a subsidiary of Kibar Holding made public its "Protecting Biodiversity Project," that aims to conserve biodiversity through a research partnership with the Kocaeli University (KOU) Biology Department. The company, one of the leading manufacturers in the flat-rolled aluminium industry, continues to contribute to sustainability with this project, which has begun by reintroducing the endangered endemic "Amsonia Orientalis" plant back to nature. The project began with the "Amsonia Orientalis" plant, also known as "Blue Star," which has been identified by the European Commission in 2002 as a plant species that need to be preserved in the flora. This particular endemic plant is currently known to only exist in a few locations in the Marmara Region of...
“COVID-19” crisis: Indonesia presumes delay of multi-billion $ mining and refinery investments to 2021, comprise 7 bauxite projects
Indonesia presumes $3.7 billion in investments for mining and refinery projects to be delayed to 2021 if the COVID-19 pandemic lingers until the end of 2020, as per a mining official. Irwandy Arif, an advisor to the Energy and Mineral Resources Minister said: “The investments were expected for 35 ore processing facilities that are under construction or scheduled to start development this year.” This includes seven bauxite projects, among others, are now expected to be completed by around 2023 due to the delay of this year. The Advisor also stated that all new mining developments had been kept on hold since January'20. Arif also said: “The government’s earlier scenario for the coronavirus outbreak to end in June’20 is looking unlikely, as the number of daily cases had not yet shown a...
Fitch Ratings amends outlook on Greece based Mytilineos to negative; Affirms at 'BB'
Fitch Ratings has amended the Outlook on Mytilineos S.A.'s long-term Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR and senior unsecured ratings at 'BB'. The amendment of the Outlook exhibits the weak macro environment with prolonged low commodity prices, material pressure on aluminium consuming industries, the expected underperformance of engineering, procurement and construction (EPC) business and uncertainties around the COVID-19 situation/shape of the recovery. The current three-month LME aluminium price is trading short of USD1,600/t, a reduction of around 12% from the 2019 average price. The company has revised its aluminium price assumptions down for the second time this year and it expects 2020 and 2021 LME prices to average USD1,560/t and USD1,600/t,...
Mauritius import of Aluminium Bar Rods and Profiles remains down-sizing during 2018-20, expenditure kept rising
The economy of Mauritius is a mixed developing economy based on agriculture, exports, financial services, and tourism. Mauritius is ranked as the most competitive and one of the most developed economies in the African region. The major industries that contribute to the economy of nation are food processing (largely sugar milling), textiles, clothing; chemicals, metal products, transport equipment, nonelectrical machinery, tourism. Mauritius import of aluminium bar rods and profiles has been showing down-turn during 2018-19, as the volume of import remained at 13,611 tonnes and the foreign revenue expended stood at $52.42 million. The forecasted import volume for 2020 has been analysed at 5584 tonnes and the expenditure to reach $46.73 million. However, when the analysed import volume and...
U.S. dust-up to declare aluminium tariffs on Canada by end of week
The United States of America is planning to re-impose tariffs on aluminium imports from Canada, as reported late on 22 nd June’20, mentioning people familiar with the matter. The announcement is expected to come by the end of the week. If Canada declines to impose export restrictions, the United States will announce on Friday, 26 th June’20, the re-imposition of 10% tariffs on aluminium from the country, as per the report. The report also added that tariffs will be implemented by 1 st July’20.
India starts-off anti-dumping duty probe against importation of aluminium foil from China and others
India has commenced anti-dumping duty probe against certain kinds of aluminium foil imported from China, Indonesia, Malaysia and Thailand. Aditya Birla owned Hindalco Industries, Raviraj Foils and Jindal India Ltd have filed the application affirming dent resulting from the alleged dumping in the form of an increased volume of dumped imports in absolute terms and related to production and consumption, price undercutting and price suppressing effect on the domestic industry. Aluminium Foil 80 microns and below such as cigarette foil and home foil, among others are the product under review. The Directorate General of Trade Remedies (DGTR) said it has initiated an investigation to “determine the existence, degree and effect of any alleged dumping in respect of the subject goods originating...
Reynaers Aluminium in Belgium will support to lower CO2 footprint by opting low-carbon aluminium
The well-known Reynaers Aluminum in Duffel, Belgium, restricts its CO2 footprint. The architectural window, door and facade systems company will henceforth purchase more aluminium produced from green energy sources. Erik Rasker, CTO, Reynaers said: “The aluminium currently used in Europe accounts for an average footprint of 8.6 kg CO2 per kg aluminium. Most of this CO2 is caused by the energy source. By purchasing low-carbon primary aluminium, our company is reducing related CO2 emissions by more than a quarter.” He also pointed out that the production of aluminium is becoming increasingly energy-efficient and that the metal can be recycled endlessly without loss of quality. Reynaers Aluminium is a European developer of aluminium products for the building sector. The company also provides...
China loses WTO dispute against EU for market economy status, subsidized aluminium supply strikes back
In a spectacular development, China has lost a dispute to the European Union at the World Trade Organization (WTO) for a market economy status, as the former allowed the dispute to lapse. The development occurs after four years of battle for the market-economy status by China. The designation would have put the country in a stronger position in respect of its commercial and trade partners. The WTO Secretariat said China allowed the dispute to lapse. “At the request of China, the panel suspended its work on 14 th June 2019 (WT/DS516/13). Since the panel has not been requested to resume its work, according to Article 12.12 of the DSU, the authority for the establishment of the panel lapsed as of 15 th June 2020.” As per the European Union, China subsidises its industries to a great extent,...
Poland’s import of Aluminium Alloy exhibited a multi-billion dollar market during 2017-20
The economy of Poland is the sixth-largest in the European Union and the largest among the former Eastern Bloc members of the EU. The biggest industries in Poland are agriculture, manufacturing, energy, and tourism. Poland’s aluminium alloy import during 2017-19 has been recorded with a volume of 1.34 million tonnes and the revenue expended stood at $2.432 billion. The aluminium alloy import projection for 2020 has remained at 498,202 tonnes and the expenditure stood at $0.853 billion. However, when the analysed import volume and expenditure being added with the previous three years it reflects $3.295 billion. The major exporting nations for Poland’s import of Aluminium alloy are Austria, Bulgaria, Bahrain, India, Hungary, Netherlands, China, etc. In 2017 the aluminium alloy importation...
GARMCO Green initiative: A champion of environmental causes and for sustainable future
Middle-East’s largest downstream facilities, a Bahrain based international aluminium rolling mill, Gulf Aluminium Rolling Mill, GARMCO, has commenced on a transformative role in shaping the climate agenda through the GARMCO Green Initiative that sets the stage in steering the company’s vision for a sustainable future in a tangible direction. The GARMCO Green Initiative is the culmination of years of best practice in eco-friendly processes and provides the template for the company’s new strategic direction of being a champion of environmental causes. As an outcome of it, GARMCO has been in the leader-space of developing some of the most high-quality products from recycled aluminium, and also ensuring that energy efficiency is at the heart of the way production processes are conducted....
PM Modi steps ahead for “Self-Reliant India”: Rolls-out auction for commercial coal mining, win-win for Bauxite mining and Aluminium Industry
On 18 th June’20, The Prime Minister of India Narendra Modi initiated the auction of 41 coal blocks for commercial mining video-conference. The allocation of the mines has been adopted with a two-stage e-auction. The decision was part of the announcements made by the Government of India under the “Self-Reliant India” scheme. The Prime Minister said: “India would overcome COVID-19 and turn the crisis caused by the pandemic into an opportunity.” He also said: “The country’s economic activity was fast returning to normal, with consumption and demand attaining the pre-pandemic levels. The rural economy had also started looking up, with the area under pre-rain sowing crops and wheat procurement increasing this year. These were signs that the economy was ready to bounce back and march ahead.”...
South African Aluminium supplier and exporter HULAMIN sends warning signal of loss due to high fixed costs
South African Aluminium supplier and exporter Hulamin, whose customers include Tesla, has sent warning signal on 19 th June’20 that it has entered into a loss in its year to end-December. The company had already stated earlier that declining sales took a chunk out of its profits of a business classified by fixed costs. The group announced that it expected to report a headline loss per share of between 70c and 80c, and up to 187.9% decline from the prior comparative period. Hulamin declared previously: “They experienced unusually challenging conditions in 2019, amid weak market conditions both locally and internationally.” This resulted in Hulamin Rolled Products sales volumes declining 10% to 204,000 tonnes. The group said in a trading update in March. “Due to the high fixed manufacturing...
