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.
Downstream weekly recap: Kaiser Aluminium, Constellium and Capral reported fourth quarter and full year 2023 financials
The continuous innovation in downstream aluminium processing technologies enhances product quality, efficiency, and versatility. Countries investing in research and development within this sector gain a competitive edge in international trade by offering high-quality products with improved characteristics. Nations like China, Germany, South Korea, Japan, Italy, Mexico, and many others with a robust downstream aluminium industry can export value-added products, contributing positively to their trade balance. Conversely, countries heavily reliant on importing downstream aluminium products may need a competitive domestic industry to avoid trade deficits. The most recent industry report from AL Circle, titled "Global Aluminium Industry Outlook 2024 " mini version," provides comprehensive...
Primary aluminium weekly recap: Shipping industry forewarns lengthy Red Sea crisis, while the B&C sector slowdown rings an alarm for European aluminium
Amidst a tumultuous turn of events, the price of aluminium has witnessed a surge propelled by speculations of imminent US sanctions against Russia, with the metal industry likely to be a focal point. However, the price gained momentum and dropped again later in the week. The ambiguity surrounding the precise sectors to be impacted has instilled unease among investors, heightened by President Joe Biden's allusion to a forthcoming "major" sanctions package scheduled for unveiling on February 23, 2024. The most recent industry-focused report by AL Circle, titled "Global Aluminium Industry Outlook 2024," provides forecasts for various aspects of the aluminium industry, encompassing primary and secondary aluminium production, as well as consumption and usage across different segments. Here are...
DUBAL Holding posts strong financial results for 2023
In 2023, DUBAL Holding LLC (DH), the investment wing of the Dubai Government operating across commodities, mining, power and energy, and industrial sectors, achieved a net profit of AED 1.79 billion, showcasing a strong performance for the group yet again. The announcement came during DH's annual general meeting (AGM), presided over by its Chairman, His Excellency Saeed Mohammed Al Tayer. The board, management team, auditors, and shareholder representative from the Investment Corporation of Dubai (ICD) convened for the meeting. Dubal Holding experienced a noteworthy year, propelled by its international acquisition, expansions, and strong operational performance. HE Saeed Mohammed Al Tayer, Chairman of DUBAL Holding, said, “We are working diligently in line with the directives of our wise...
ABB names Morten Wierod as new CEO, succeeding Björn Rosengren
Morten Wierod has been appointed as the Chief Executive Officer by the ABB Board of Directors. He will assume the role on August 1, 2024, succeeding Björn Rosengren, who will step down from his position effective July 31, 2024, and retire by December 31, 2024. During the transition period from August 1, 2024, until the year's end, Björn Rosengren will provide guidance and support to Morten Wierod and the Executive Committee to ensure a smooth handover. After a comprehensive selection process, the Board chose Morten Wierod, aged 52 and a Norwegian citizen. He has been with ABB since 1998 and has been a member of the Executive Committee since 2019, currently serving as President of the Electrification Business Area. Previously, he held the position of President of the Motion Business Area....
Diverse industry presence propels Capral to match the prior year's record earnings in 2023
Australia's largest extruder and distributor of industry-leading aluminium products, Capral, achieved full-year underlying earnings in 2023 that matched the previous year's record, surpassing guidance expectations. This accomplishment was propelled by the company's diversified industry presence and robust sales performance, particularly notable in the residential, commercial, and industrial sectors during the year's first half. Capral exhibited resilience in its financial performance despite facing challenges such as higher interest rates and ongoing inflationary pressures, as Managing Director Tony Dragicevich stated. The company reported underlying earnings before tax, depreciation, and amortization (EBITDA) of $62.5 million for the year, a slight increase from the previous year's $62.2...
Yokohama cracks down on counterfeit aluminium wheels in China
The industry leader in tyre technology and innovation globally, Yokohama, lodged an administrative complaint and provided details to the Administration for Market Regulation in Foshan, Shenzhen, and Guangzhou, located in Guangdong Province. The complaint pertained to six companies involved in distributing counterfeit sports car aluminium wheels that closely resembled Yokohama's "ADVAN Racing" wheels. Following a complaint and information provided by the Company, authorities in various cities conducted raids on six companies in November 2023. These companies were found to be selling counterfeit aluminium wheels through internet shopping sites and retail shops outside the official distribution channels of the Company. Yokohama has confirmed that all six distributors have been fined, and the...
Electrification leader sparks transformation with asset performance acquisition
On February 16, 2024, the technology leader in electrification and automation, enabling a more sustainable and resource-efficient future, disclosed its agreement to acquire a global, energised asset optimisation leader focused on optimising asset safety, reliability, and maintenance for more than 800 active clients operating in multiple industries and markets around the world. The acquisition will enhance the company's Electrification Service portfolio, providing customers with enhanced expertise in predictive, preventive, and corrective maintenance, electrical safety, renewable energy, and asset management advisory services. The Swedish-Swiss multinational corporation headquartered in Västerås, Sweden, and Zürich, Switzerland ABB has entered into an agreement to acquire Beachwood, Ohio,...
Be a part of AL Circle's upcoming e-magazine " Aluminium Casting Industry: Focus 2024 "
AL Circle is excited to announce its 22nd edition of the upcoming e-magazine, " Aluminium Casting Industry: Focus 2024." As a premier platform dedicated to fostering collaboration and innovation within the aluminium sector, AL Circle is excited to bring together thought leaders, experts, and professionals to delve into the latest trends, challenges, and advancements in aluminium casting. Why participate? Expert insights Gain valuable insights from industry experts and thought leaders on the current state and prospects of the aluminium casting industry in 2024 and beyond. Cutting-edge technology Discover the latest technological innovations and advancements shaping the aluminium casting landscape, from materials and processes to automation and sustainability. Networking opportunities...
Uncertainty looms: Container shipping and logistic giants forewarn lengthy Red Sea crisis
Terrorist group attacks on commercial vessels navigating through the Red Sea have prompted some shipowners to opt for the longer and costlier route via Southern Africa instead of the Suez Canal and the Red Sea. The recent intensification of these attacks has heightened concerns, with tensions showing no signs of abating. This reluctance among shipowners has disrupted the flow of steel and aluminium into Europe , typically transiting through the Suez Canal, by 775,000 tonnes per month, equivalent to 9.3 million tons per year, as reported in some industry data. Let’s check from Maersk The Danish shipping and integrated logistics company Maersk has recently announced that the Red Sea crisis may endure until the latter half of 2024, and they are advising customers to make necessary...
Metso's innovative single-stage SAG mill solution set to transform an aluminium industry project in China
Metso has secured an order for a single-stage semi-autogenous grinding (SAG) solution for a low-carbon aluminium industry project in China. Metso is a frontrunner in sustainable technologies, end-to-end solutions and services for global aggregates, minerals processing and metals refining industries. It can improve its customers' energy and water efficiency, increase their productivity, and reduce environmental risks with its product and process expertise. Although the exact value remains undisclosed, the order has been recorded in the minerals segment's first-quarter 2024 orders received. The delivery from Metso encompasses six SAG mills boasting a total installed power of 45MW alongside a Mill Reline Machine (MRM). Comprehensive services ranging from engineering and manufacturing to...
Guyana leverages natural gas surplus for economic development
The President of Guyana, Irfaan Ali, announced on February 19, 2024, that Guyana intends to export its surplus natural gas to Brazil and multiple Caribbean nations, with plans to power an alumina and gold refinery eventually. “Based on pure interest by investors, we are already seeing the second phase of gas coming in, and we will already have to support a second power plant,” the President said while attending the government-backed Guyana Energy Conference. Dr Ali stated that with Guyana's consumption of propane and butane standing at approximately 800 barrels per day, there would be an excess of 3,200 barrels of these natural gases available for export, thus stimulating the transport and logistics sector. Continuing his efforts to attract investors, the President emphasised including...
Novelis leads by example: German plants now fully powered by renewable sources
Novelis Inc., the world's leading sustainable aluminium provider and a global leader in aluminium rolling and recycling , has announced that it has signed a green Power Purchase Agreement (PPA) with Statkraft, the largest producer of renewable energy in Europe. This PPA will encompass a significant portion, up to 40 per cent, of the electricity consumption at two key Novelis manufacturing facilities in Germany: Nachterstedt Recycling and Nachterstedt Rolling . This agreement represents approximately 16 per cent of the company's overall electricity usage in Germany. Emilio Braghi, the Executive Vice President of Novelis Inc. and President of Novelis Europe, said, "Enabling our plants to power a significant part of their production with renewable electricity while decreasing carbon...
Tesco introduces tubeless foil, revolutionising kitchen basics
Tesco is introducing the UK's inaugural tubeless kitchen foil, heralding a significant step towards sustainability. With the implementation of an advanced rolling machine, Tesco is pioneering this innovative product, which will spare 12.5 million cardboard rolls annually. This week, Tesco patrons will have the privilege of being the first to experience the redesigned aluminium foil made possible by this groundbreaking initiative. By eliminating the need for cardboard cores, Tesco underscores its dedication to reducing superfluous packaging, resulting in an annual saving of 330 tonnes of cardboard. Bronwen Williams, the Technical Manager at Tesco who has been involved in the project, said, “This new machine has revolutionised foil production, saving hundreds of tonnes of cardboard from...
South Korea procures 3000 tonnes of aluminium ingot in January
South Korea acquired 3,000 tonnes of high-grade primary aluminium ingots of Malaysian origin through a tender process, as announced by the state-operated Public Procurement Service on February 14, 2024. As per the information available on the government procurement agency's website, the purchase particulars are outlined below: 2,000 tonnes from Sumitomo Corp at a premium of $115 CIF/T, with an arrival scheduled for January 31 st at the port of Busan. 1,000 tonnes from LG International Corp at a premium of $114 CIF/T, also set to arrive on January 31 st at the port of Busan. The agreements were finalised with premiums above the London Metal Exchange cash prices, as the metals are required to be registered on the LME. According to the OECD, South Korea's per capita aluminium consumption was...
Chemship's wind-assisted propulsion sets new standard in maritime industry
February 19, 2024, marks a significant milestone for Chemship as it launches its inaugural vessel equipped with wind-assisted propulsion, setting a new standard in sustainable shipping. The MT Chemical Challenger, a pioneering chemical tanker, now boasts the distinction of being the first of its kind globally to integrate eco-friendly wind technology into its operations. Assigned to ply the Trans-Atlantic route connecting the United States East Coast with the Mediterranean, this vessel heralds a new era of environmentally conscious maritime transportation. The recent installation of four 16-meter-high aluminium wind sails on the 134-meter-long ship represents a groundbreaking advancement. Manufactured by Econowind, these VentoFoils provide a direct wind surface of 180 m2. Through...
Territory Pharmacy collaborates with TerraCycle® for territory-wide blister pack recycling program
Territory Pharmacy, the largest pharmacy group in the Northern Territory, Australia, has initiated the pioneering free blister pack recycling program across the territory. This initiative is made possible through a partnership with TerraCycle ® , an innovative recycling company. Let's know about Territory Pharmacy Territory Pharmacy is a leading pharmacy group at the heart of Northern Territory healthcare and was founded alongside Northpharm in 2000. The group is owned and operated by a team of pharmacists and supported by a dedicated Territory workforce. The community pharmacies are situated in Darwin, Katherine, and Alice Springs. Territory Pharmacies deliver pharmacy, health, and wellbeing services in these regions. Northpharm Group is a reliable, experienced partner for government...
UAE's non-oil trade reaches new heights, tops $953 billion in 2023
Prime Minister Sheikh Mohammed bin Rashid al-Maktoum announced on February 18, 2023, that the United Arab Emirates achieved a historic milestone in its non-oil trade, reaching around $952.93 billion (3.5 trillion dirhams) in 2023. This remarkable accomplishment underscores the nation's commitment to diversifying its economy and reducing its dependence on oil. Thani Al Zeyoudi, the Minister of Foreign Trade, announced that trade in non-oil goods experienced a significant increase of 12.6 per cent since 2022. Additionally, exports of goods and services have exceeded 1 trillion dirhams, marking a new record. The Gulf oil exporter signed a series of bilateral trade, investment, and cooperation agreements in 2021 called Comprehensive Economic Partnership Agreements (CEPAs). These initiatives...
Bermuda govt. opts for all-aluminium ferries from Singapore shipbuilder
Bermuda's government has granted Singapore's Strategic Marine a contract to build two catamaran ferries intended for commuter and tourist voyages. The world’s leading shipbuilder, Strategic Marine, is a Singapore-based company that produces quality, high-performance aluminium ships for various markets, such as windfarm crew transfer, fast crew boats, ferries, and defence. The delivery of these vessels is slated to start in the fourth quarter of 2025. These ferries will be constructed entirely from aluminium and will feature amenities to accommodate up to 550 passengers, including designated wheelchair spaces. AL Circle's latest industry-focused report, "Global Aluminium Industry Outlook 2024", estimates that the shipbuilding industry employs approximately 1-1.2 million tonnes of aluminium...
