AlCircle News Edited By "Staff Editor"
Vedanta Aluminium inks MoU with Central Bank of India for collateral-free customer financing
In a move set to propel India's downstream aluminium industry, Vedanta Aluminium, in collaboration with its subsidiary BALCO, has signed an MoU with the Central Bank of India. The deal announced on June 6, 2025, aims at introducing a collateral-free facility of financing to the company's customers directly. Image source: Vedanta MetalBazaar From end-user MSMEs to large OEMs, all stakeholders will be able to avail themselves of easy, cost-effective finance through the rapidly growing Vedanta Metal Bazaar platform . This is going to prove as a game-changer, especially for the smaller players in the value chain. Unlocking new avenues for customers It's all about creating growth with comfort and ease. Loans will range from INR 10 lakh (USD 11,694) to INR 10 crore (USD 11.7 million), with the...
“Our strategy is to expand the production output for the next five years to reach 180k MT per annum…” Mohamed Rafea, CEO, GARMCO
Mohamed Rafea, the Chief Executive Officer at GARMCO since April 2020, brings over 27 years of aluminium industry experience, previously leading Riyadh Cables and Midal Cables. He holds an MSc from Coventry University and a BSc in Electrical Engineering from Texas A&M. In an exclusive for Al Circle's e-Magazine " The Modern World of ALuminium Flat Rolled Product s", he shares GARMCO's strategy for the next 5 years, including expansion of production output alongside diversified innovation. AL Circle: How will the demand for aluminium FRP grow in 2024 and beyond? Which manufacturing sectors will be the key demand drivers for aluminium FRP? Mohamed Rafea: According to market reports and studies, the global aluminium market is forecasted to reach a CAGR of 5% to 7% in the next five years....
Aluminium futures leap on US-China trade negotiation optimism
The world aluminium market is abuzz with optimism once again as futures of the metal on the London Metal Exchange inched higher to USD 2,460 per tonne today from a bottom of USD 2,166 per tonne in April. The hike comes against the backdrop of expectations of top-level trade talks between China and the US being held in London, and it is a sign that even a slight de-escalation in trade war tensions can have ripples of optimism sweep through commodity markets. The aluminium industry has been witnessing for months the turbulent geopolitical tensions, the most significant being trade wars between the two biggest economies of the world. Past reciprocal tariff hikes and accusations of violations of trade accords have created enormous uncertainty, supporting price volatility as much as world...
Baheti Recycling continues to trade above INR 600 following 159% profit jump
India-based mircocap company, Baheti Recycling Industry Limited, specialised in recycling aluminium scrap into various aluminium alloys, reportedly concluded the day on June 9, 2025, at a 1.43 per cent higher than its previous closing price. The company’s share price clocked at INR 602 (USD 7.03) after ranging between INR 604.50 (USD 7.05) and INR 591.00 (USD 6.89) throughout the day. Image source: Baheti Recycling Industries Limited Baheti’s share price has been performing very strongly, returning 52.96 per cent this year and 5.01 per cent in the past five days. The recycling firm has TTM P/E ratio 33.47 as compared to the sector P/E of 20.16. Ever since, Baheti has declared its robust financial performance, with a net profit significantly up by 159 per cent at the end of H2 FY2025, the...
China’s East Hope Group investment to fuel green aluminium boom in Kazakhstan
In a landmark move, China’s East Hope Group (EHG), one of the world’s leading non-ferrous metals conglomerates, has unveiled plans to invest over USD 12 billion in Kazakhstan’s green aluminium and non-ferrous metals sector. The announcement came following high-level talks on February 17, 2025, between EHG’s General Director Changjun Meng and top Kazakh officials, including First Deputy Prime Minister Roman Sklyar and the leadership of Kazakh Invest. Image source: https://www.energyinnovation.net.au/ What the project entails The investment blueprint by East Hope Group outlines the development of a vertically integrated industrial complex that will span multiple regions across Kazakhstan. This megaproject is expected to include a mining and raw material processing plant, a full-fledged...
Rio Tinto seeks government salvation for Tomago Smelter as energy costs keep surging
Rio Tinto Group has entered into talks with Australian authorities over a potential multibillion-dollar bailout for its Tomago aluminium smelter, with discussions focusing on the electricity supply contract for 2026 to 2029 and the design of production tax credits to shield the operation from spiralling power costs. According to people familiar with the deliberations, any rescue package is likely to be “more sophisticated” than a simple cash hand-out and is being negotiated chiefly with the New South Wales state government. Image for referential purposes only Tomago, in which Rio Tinto holds the majority stake, consumes roughly 12 per cent of New South Wales’s total power generation, making it the state’s single largest electricity user. Such voracious demand underlines both the plant’s...
Ma'aden nears complete control of Saudi aluminium operations
Saudi Arabian mining company Ma'aden is close to achieving total control of its integrated aluminium business after getting critical regulatory consent to buy Alcoa's 25.1 per cent stakes in two significant joint ventures. The Capital Market Authority (CMA) approved the offer by Ma'aden to buy Alcoa's shareholding in both Ma'aden Aluminium Company (MAC) and Ma'aden Bauxite and Alumina Company (MBAC) on June 2. This move is a stepping stone towards Ma'aden’s long-term plan for full ownership and full operating and managing control of both the bauxite and alumina business and the downstream aluminium smelter. The transaction, as previously reported, is valued at USD1.1 billion and represents Ma'aden strategic intent for its aluminium operation and pursuit of increasing domestic industrial...
Fresh trading activity drives modest gains in aluminium futures
Aluminium prices moved up in the futures market on June 5, 2025. Traders increased their position sizes based on favourable spot market news. On the Multi Commodity Exchange (MCX), the July aluminium futures rose by 5 paise to INR 242.10 (USD 2.82) per kilogram. This represents positive momentum driven by demand and interest from speculators, suggesting confidence in aluminium's outlook for the short-term. In India, aluminium futures have been rising. Spot rates were around INR 239 per kg (USD 2.79) on June 5, 2025, while July futures are estimated at INR 242.10 (USD 2.82) per kg. Also read: US aluminium premiums spike to a record $900/t, fueling hope for Novelis’ bottom line boost. But how? Market dynamics driving aluminium futures The increase in aluminium futures is largely due to new...
United States 50% tariff hike on aluminium and steel now in effect
The United States officially raised its tariffs on foreign steel and aluminum products and doubled the import duty from 25 per cent to a hefty 50 per cent, effective June 4. The development, announced by President Donald Trump, was designed to further protect the home market metals industry, but sent waves of worry around the world. The higher tariffs are an expansion of the steps introduced in mid-March, with President Trump emphasising the need for the policy to support American steel production. The decision, and Trump's override of a court ruling to make it so , has, however, been receiving scathing criticism and international pushback. Australia to be particularly hit, even as an ally of the US For Australia, which is also a major player in the world aluminium industry, the...
New collaboration between Vedanta Aluminium and PwC in Odisha and Chhattisgarh targets environmental goals
Vedanta Aluminium, India’s largest aluminium producer, has announced an expanded partnership with PwC India on World Environment Day, signifying a major collaboration with the global professional services firm. The goal? - To boost their green endeavours across verticals. Image source: Vedanta Last month also, the aluminium behemoth announced a series of green initiatives dedicated to preserving biodiversity across its operational regions in Odisha and Chhattisgarh. Strategic expansion beyond initial scope The original biodiversity project at Vedanta's Jharsuguda smelter has advanced into a complete sustainability framework. The company, producing over half of India’s aluminium – 2.42 million tonnes in FY25, has an enormous impact on the environment. With this partnership, it now targets...
May 2025: Metro Mining logs 26% growth in bauxite deliveries, backed by infrastructure gains and cost edge
The Australian mining firm Metro Mining Limited has reported a 26 per cent year-on-year increase in monthly bauxite shipments, amounting to 671,934 wet metric tonnes (WMT) in May 2025. This increase forms part of a growth trend of increasing volumes of shipments with the company working towards its annual goal of 6.5 - 7 million WMT of bauxite. It is also worth noting this growth follows a previously reported record April with shipments of 424,730 WMT - which was a 12.2 per cent increase over the prior year (but Metro’s all-time monthly record was 720,000 WMT set in August 2024) - highlighting Metro's consistent ongoing operations against more challenging weather earlier in the year. Strategic infrastructure upgrades and production capacity Metro Mining’s flagship Bauxite Hills Mine in...
VELUX to source 70%-recycled aluminium from Novelis - Why is it important
Danish roof-window innovator VELUX has turned last year's letter of intent into a multi-year supply deal that secures flat-rolled aluminium with over 70 per cent recycled scrap for its windows and flashing kits. Novelis states the tailored alloy already passed VELUX's stringent salt-spray and freeze-thaw tests and will reduce the material's specific footprint to under 4 kg CO2 per kg this year, less than half the European primary average. Image source: Novelis The deal comes on the heels of Novelis' recent introduction of the first coil produced from 100 per cent end-of-life automobile scrap and its $4.5 billion investment pipeline for recycling capacity. This is an indication that high-recycled alloys are transitioning from specialities to standard. As per the latest data on industry...
India plans over tenfold increase in pumped storage hydropower capacity backed by Greenko, Adani & JSW
India’s green energy transition is reaching a turning point, with private powerhouses Greenko, Adani Green Energy, and JSW Energy racing to lead the charge. These giants are now at the heart of the country’s bold push into pumped storage hydropower pipeline (PSH), an essential pillar in India’s clean energy future. The latest data from the Central Electricity Authority (CEA) reveals that Greenko, Adani Green Energy, and JSW Energy are poised to deliver nearly 66 per cent of India’s planned 51.24 gigawatts (GW) of pumped storage capacity by 2032. This ambitious rollout of long-duration energy storage marks a critical pivot in India’s decarbonisation strategy. The call for flexible, on-demand storage is surging as the grid becomes increasingly powered by solar and wind. Pumped storage...
Here’s how UP Fintech’s Q1 2025 performance signals a fintech power shift in global
UP Fintech Holding Ltd., better known as Tiger Brokers, has roared into 2025 with a results sheet that not only redefines its growth narrative but signals a paradigm shift in how next-generation fintech platforms are competing for global capital and investor mindshare. For a company that began its journey as a cross-border brokerage, Tiger has now emerged as a full-stack wealth-tech player, integrating AI, crypto, derivatives, IPO syndication, and portfolio management into one sprawling global investment ecosystem. Image is for representational purposes only Revenue hits historic high For Q1 2025, Tiger clocked USD 122.6 million in total revenue, marking a staggering 55.3 per cent year-over-year (Y-o-Y) growth. More impressively, its non-GAAP net income hit USD36 million, up 145 per cent...
Calcined alumina market poised for significant growth amidst strategic moves by Almatis, Rusal, and Imerys
The global calcined alumina market is poised for significant growth, driven by expanding applications across various industries and strategic moves by key players. The calcined alumina market is experiencing robust expansion. Projections indicate growth from approximately USD 16.82 billion in 2025 to USD 28.56 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 7.86 per cent. This surge is attributed to increased demand in sectors such as ceramics, electronics, and refractories, where calcined alumina's properties—like high hardness and thermal stability—are highly valued. Key Applications Driving Demand Advanced Ceramics: Calcined alumina enhances thermal resistance and mechanical strength in ceramics, making it indispensable in automotive, aerospace, and medical device...
“This cycle of shutdowns and restarts, or at least these production reduction and increase phases, has been more prevalent in Europe than elsewhere in the world for years,” Pascal Mausset, Fives
Pascal Mausset, Fives Services Europe Manager for Fives Aluminium Division, has been associated with the organisation for 22 years, including 15 years in the primary aluminium industry. In an interview with AL Circle for its e-magazine ‘ Aluminium Industry: Focus Europe ’, he discusses the decline in European production, each smelter’s responsibility to tackle the current circumstance and the importance of digital tools in process improvement. AL Circle: As a leading process equipment and production lines supplier with headquarters in France, how have you contributed to the recent growth in European aluminium production with your advanced machinery and technology? Mr Pascal Mausset: Production in Europe has been declining for several years, sometimes gradually with reduced output and...
“Given that Europe is structurally a deficit market in primary aluminium, the resilience of the European market is always an important issue,” Uday Patel, senior Research Manager, Metals and Mining – Aluminium, Wood Mackenzie
Uday Patel, senior research manager, Metals and Mining – Aluminium, Wood Mackenzie, has highlighted the complex dynamics currently shaping the aluminium market. He stated that geopolitical disruptions, such as the Russia-Ukraine war and rising political populism, are already weakening global trade and market confidence. Over the past four to five years, interest in low-carbon metal has surged, driven by sustainability goals and regulatory pressures. However, in the current environment of weak overall demand, many end-users are unwilling to absorb the additional costs, particularly when it's difficult to pass those costs on to customers. Looking ahead, Patel notes that the introduction of CBAM (Carbon Border Adjustment Mechanism) payments in 2026 could increase pricing for low-carbon...
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“In the European market, there is a very specific qualification process for suppliers,” John Courtenay, MQP
John Courtenay, the Chairman of MQP and CEO of MQP International Ltd, is a global leader in the development, manufacture and application of grain refinement products used in the production of aluminium alloys. His business career started with joining Foseco International in 1968. He shares through his interview for AL Circle ‘ Aluminium Industry: Focus Europe ’ e-magazine about the diverse experience MQP has had, having the opportunity to work in the European market AL Circle: What challenges do you encounter while you cater to the European market? John Courtenay: One of our biggest challenges is growing beyond our existing customer base in Europe. We must circumnavigate some restrictive factors, one being that, since the pandemic, central research and development departments have not...
