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.
LME Clear appoints Michael Carty as the new Chief Executive Officer
On July 25, 2023, LME Clear announced the appointment of Michael Carty as Chief Executive Officer and LME Clear Board Director, effective October 2, 2023. As stated by the LME, Michael brings extensive knowledge and experience in financial infrastructure and technology. He joins LME Clear from Euroclear Group, where he has held various senior roles over the last 15 years, including Chief Information Officer and Chief Operations Officer for Euroclear Sweden and Euroclear Finland, CEO of Euroclear Sweden and, most recently, CEO of Euroclear UK and International. LME Clear is the clearing house for the London Metal Exchange. Launched during the year 2014, it was designed and built in consultation with the market to provide cost-efficient, EMIR-compliant clearing and settlement services using...
Aluminium paving the way for a sustainable transportation future
Amidst the world's unwavering commitment to forging a sustainable and eco-friendly future, a fresh wave of solutions has surfaced, leveraging the potential of cutting-edge materials to revolutionize how society embarks on its journeys. Aluminium in engineering stands as a true revolutionary in the mobility and transportation sector. Its remarkable properties and unparalleled versatility have ushered in a new era, breaking the boundaries of what was once deemed possible and leading us towards a greener and more sustainable future. This revolutionary material has redefined the essence of transportation, promising a transformative impact on how we move and navigate our world. Aluminium represents a specialized variant due to its strength and lightweight, skilfully crafted and processed to...
Spain Foundry Congress 2023: Advancing the metallurgical industry
The Spain Foundry Congress, held every year, has become an esteemed event for the metallurgical industry, gathering professionals, experts, and enthusiasts to exchange knowledge, innovations, and insights. In 2023, the prestigious event returns, promising to be a transformative gathering of minds, driving the foundry sector towards enhanced productivity, sustainability, and technological excellence. This article sheds light on the significance of the Spain Foundry Congress 2023, its key themes, and the potential impact it may have on the metallurgical landscape. The Spain Foundry Congress 2028 is scheduled for September 23, 2023, in Bilbao, an industrial port city in northern Spain. One of the primary objectives of the Spain Foundry Congress 2023 is to showcase cutting-edge technological...
India poised for exponential growth as the sole bright spot in the next two years: Chairman of Bosch
Bosch, the leading German industrial major and the world's largest auto components manufacturer and the producer of a wide range of aluminium profiles, envisions significant growth by establishing itself as a crucial strategic hub. Recognizing the rise of software tech disruptions and the impact of macroeconomic developments on the automotive industry, Bosch aims to capitalize on India's burgeoning software engineering talents. This strategic move is seen as a decisive advantage over China and will play a pivotal role in Bosch's sustainable global growth journey. Amidst a global economic slowdown with China, known as the 'Factory of the World,' witnessing a deceleration in its economy, Europe and the US are grappling with uncertain economic conditions. However, in this challenging...
South32 concludes 'Fiscal Year' with impressive performance, aluminium production witnessed significant growth
The Perth headquartered mining and metal company, South32, which is listed on the Australian Securities Exchange with secondary listings on the Johannesburg and London Stock Exchanges, reported that during the fiscal year ending in June, there had been three consecutive annual production records achieved, demonstrating significant growth in aluminium, copper, and manganese output. In Australia, financial years run from 1 July to 30 June the following year. Graham Kerr, the CEO of South32, said, “We had a strong finish to the year, with group copper equivalent production growing 9 per cent in the quarter. Our strong operating results included record annual production at Hillside Aluminium , Australia Manganese and South Africa Manganese. Aluminium production increased by 14 per cent and...
Rio Tinto to acquire 50% stake in Giampaolo Group's Matalco business
The global mining and metal giant Rio Tinto and the Giampaolo Group, founded over 50 years ago in Toronto, Ontario, with a distinct focus on the recycling industry, have agreed to form a joint venture to manufacture and market recycled aluminium products. The transaction reflects the joint venture partners' commitment to meeting the increasing demand for low-carbon aluminium as a critical material in the energy transition. As per the agreement, Rio Tinto is set to purchase 50 per cent ownership of Giampaolo Group's wholly-owned Matalco business for $700 million, subject to standard closing adjustments. Matalco is a prominent manufacturer of top-tier recycled aluminium billet and slab products. With seven facilities—six in the United States and one in Canada—Matalco boasts an impressive...
Yunnan demand drives China's alumina prices to one-month high
On July 20, 2023, analysts and traders said that Chinese alumina prices escalated to their highest on constraint provision in more than a month amid augmented demand from aluminium smelters in the southwestern Yunnan province. On July 20, the Shanghai Futures Exchange witnessed a remarkable surge in the recently introduced alumina futures contract. According to Refinitiv Eikon data, the contract for the most-traded November expiry date, SAOX3, experienced a significant jump of 3.2 per cent, reaching an all-time high of RMB 2,908 per tonne. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Refinitiv Eikon is an open-technology solution for financial markets professionals, providing access to...
Chalco Chairman Liu Jianping steps down from the position
On July 20, the Chinese state-owned Aluminium Corporation of China announced the resignation of Chairman Liu Jianping. The reason cited for his departure was a "work adjustment." Liu's departure as chairman occurred only two years into his tenure. The decision followed closely on the heels of global media reports revealing that a company unit had terminated specific aluminium contracts. This action came amidst an ongoing government-led investigation into market deals. Nie Zhen, the Spokesman for Chalco's parent company Chinalco said, "Liu's move is a normal personnel change. It had no connection with the reported suspension of contracts." He declined to comment anything more on the issue. China's leading aluminium producer, commonly referred to as Chalco holds the largest stake in the...
Aluminium Dunkerque commits significant investment to expedite decarbonization efforts
Aluminium Dunkerque, the largest aluminium smelter in Europe located in North France, is taking significant strides towards decarbonisation. As the European Union's foremost producer of primary aluminium, the company has embarked on the first phase of its ambitious decarbonisation initiative, named "LocAL", resulting to mean low-carbon aluminium. This comprehensive program aims to accelerate the reduction of carbon emissions over three phases, scheduled to be completed by 2050. To kickstart this green journey, the company has already allocated a substantial initial investment of €12.5 million, with a focus on increasing the utilization of recycled aluminium. In response to the energy crisis that hit the European aluminium industry hard, Aluminium Dunkerque took measures to mitigate the...
Marubeni reports Japan's June aluminium stock registers a marginal 1% m-o-m increase
On July 18, Marubeni Corporation reported that aluminium stocks at three major Japanese ports were up by nearly 1 per cent to 357,490 tonnes by end-June, from 354,000 tonnes month-on-month. Marubeni gathers data from the ports of Yokohama, Nagoya, and Osaka, which are considered paramount for trading aluminium. Marubeni stands as a prominent Japanese conglomerate engaged in integrated trading and investment businesses. The company excels in managing an extensive array of products and offering diverse services to meet a wide spectrum of market needs. On March 27, 2023, Marubeni Corp. revealed that aluminium stocks at three major Japanese ports, Yokohama, Nagoya and Osaka, dipped by 2.6 per cent to 382,400 tonnes at the end of February 2023 from 392,500 tonnes from January 2023. However, at...
Bharat Forge's retrofitment unit to convert diesel trucks into zero-emission vehicles
Kalyani Powertrain Ltd (KPTL), the electric mobility division of Bharat Forge Ltd, has announced the establishment of a "re-powering factory" in Pune. This facility is dedicated to converting current diesel-powered commercial vehicles into electric vehicles through retrofitting. Retrofitting has become a prevalent practice in Europe for transforming diesel trucks and buses into eco-friendly vehicles by replacing their combustion powertrain with an electric driveline. This conversion method effectively converts these vehicles into zero-emission transportation, aligning with the growing emphasis on sustainable mobility solutions. Vehicle electrification has a two-fold positive impact: it reduces oil demand and greenhouse gas emissions, improving health outcomes. However, it also challenges...
Italy's Niche Fusina spearheads sustainability with 100% low-carbon aluminium for industrial products
Niche Fusina Rolled Products (Fusina), one of the world’s leading producers of industrial rolled aluminium products, has committed to procuring all of its primary aluminium from environmentally conscious suppliers with low-carbon practices starting in September 2023. However, according to our information from Italy, Concord Resources Limited will facilitate this responsible sourcing, and to ensure transparency and accuracy, detailed carbon footprints for the sourced aluminium will be supplied by CarbonChain. CarbonChain is built on the world's most trusted carbon accounting frameworks and standards. CarbonChain builds technology that enables data-driven climate action in the world's supply chains. However, to get there, the private and financial sectors need robust, comprehensive and...
Zhonggeng Fund Management's Qiu Dongrong takes a bullish stance on China Hongqiao, reduces stake in Chinese real estate
During the second quarter, a famed fund manager in China made strategic moves in his investment portfolio. He increased his stakes in China Hongqiao Group, the world's second-largest aluminium producer, and the short-video platform Kuaishou Technology. At the same time, he opted to reduce his holdings in Chinese real estate. These actions shed light on skilled money managers' approaches to navigating challenging market conditions. The first among the top-ranked money managers to reveal their second-quarter portfolio reports was Qiu Dongrong at Zhonggeng Fund Management in Shanghai. Despite facing challenges such as the unprecedented Shanghai lockdown and the Ukraine-Russia geopolitical crisis, China's star fund managers remain optimistic about the world's second-largest stock market. They...
Plansee technology sets ambitious goal of achieving carbon-free aluminium production
The Plansee Group, based in Reutte, Austria, initiated an ambitious project beginning in the spring of 2022. The project involves collaboration with Trimet, an aluminium manufacturer headquartered in Essen, Germany, as well as Arctus, a technology enterprise from Iceland, and Saarland University. The primary objective of this joint effort is to scale up a novel production method that eradicates the necessity of carbon in the aluminium manufacturing process. By replacing carbon dioxide with oxygen as a byproduct, this innovative approach significantly reduces the carbon footprint associated with aluminium production. Plansee High-Performance Materials specializes in the manufacturing of components from molybdenum and tungsten. Whether in the semiconductor industry, consumer electronics,...
European Aluminium contemplates EU ban on Russian aluminium, excluding Rusal
According to the letter sent to members, European Aluminium, the voice of the European aluminium industry, has considered actively lobbying for European Union sanctions on Russian aluminium but would oppose explicitly targeting the Russian aluminium giant Rusal. The group drafted an internal memorandum for planning purposes, lacking any knowledge regarding imminent sanctions from the European Union. However, the European Commission chose not to provide any comments on the matter. According to Reuters, a letter revealed that discussions were held among members of European Aluminium regarding the potential action of "advocating for EU sanctions on Russian aluminium." A letter dated July 2023 mentions the potential implementation of restrictive measures on Russian aluminium under the scope...
Yunnan adds 1 million tonnes of aluminium with 4 smelters back online
According to our report from China's Yunnan province, the region has added 1 million tonnes of primary aluminium with the restart of four aluminium smelters. Out of which, Yunnan Aluminum Co. Ltd. is the most significant producer, with 600,000 tonnes added so far. Henan Shenhuo Coal & Power Co. Ltd. and Hongtai Aluminium have added 380,000, while Qiya Aluminium has contributed just 40,000 tonnes. In the meantime, the insufficient rainfall in Sichuan province has resulted in a reduction in aluminium production. Our sources indicate that two aluminium smelters have been instructed to decrease their output, albeit the total reduction amounts to only 50,000 tonnes when combined. According to our analysis, a significant amount of aluminium still needs to be included in the Chinese aluminium...
Mercedes-Benz unveils revolutionary EV with an impressive 1000 km range on a single charge, boasting aluminium structure
The German luxury automotive brand Mercedes-Benz's groundbreaking concept vehicle, the Vision EQXX, has ushered in an exciting future for solar electric vehicles (SEVs), promising an impressive leap forward in terms of innovation and appeal. The German automaker introduced the remarkable electric vehicle (EV) during the renowned Consumer Electronics Show in 2022, impressing everyone with its exceptional efficiency. This sleek and stylish EV has achieved remarkable feats since its unveiling. With extraordinary advancements in aerodynamics, the vehicle's drag coefficient plummeted to an impressive 0.17, surpassing any other car ever manufactured in terms of aerodynamic efficiency. To put it into perspective, the average car typically falls within the range of 0.3 to 0.4 in terms of drag...
Canada’s aluminium importation gains momentum in May 2023
In May 2023, Canada witnessed a 13 per cent increase in aluminium imports month-on-month, reaching 804,859 tonnes. This surge can be attributed to higher shipments from Brazil, which rose by 23 per cent, and the United States, which saw a 28 per cent increase. Lower production levels in April also contributed to the higher import numbers in May. Specifically, imports of aluminium ores and concentrates rose by 15 per cent to 717,937 tonnes, while imports of semi-finished products increased by 33 per cent to 14,949 tonnes. On the other hand, imports of finished products and scrap experienced a slight decline of 3 per cent and 1 per cent respectively. AL Circle 's industry-focused report, ' Global Aluminium Industry Outlook 2023 ', revealed that primary aluminium production in North America...
