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THINK ALUMINIUM THINK AL CIRCLE
The downstream sector of the aluminium industry is one of the most productive sectors, as its profiles move to the retail market for the manufacturers to build things for customers to use. This week the global aluminium downstream sector witnessed some prominent events. To begin with, Novelis released its first quarter financial results for the fiscal year 2023. A record $307 million in net income attributable to shareholders and $307 million in net income from continuing activities were reported by Novelis in its first quarter financial results for the fiscal year 2023. The use of aluminium and its products are on the rise. The European Aluminium association predicts a 30 per cent increase in aluminium consumption due to the EU's energy transition. Considering aluminium as the "basis metal for the green transition," European Aluminium, a business group with headquarters in Brussels, is allegedly preparing its member firms to participate in the electric car and alternative energy industries.
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The South African company-based company specializing in rolled aluminium products, Hulamin, announced that its Chief Executive Officer, Richard Jacob, will retire at the end of September 2022. His career at the Pietermaritzburg-based company spans 32 years, and he has served as CEO for 12 of those years.
To know more: https://www.alcircle.com/news/hulamin-ceo-richard-jacob-to-step-down-from-his-position-and-plans-to-retire-82183
On August 2, SLM Solutions Group AG declared the latest acquisition of two SLM®500 additive manufacturing machines by Robert Bosch GmbH Nuremberg, the well-known German technology provider. These SLM®500s will substantially heighten Bosch's production of AlSi10Mg aluminium components with increased precision.
European Aluminium, an industry association in Brussels, is reportedly preparing its member companies to take part in electric vehicles and alternative energy markets, considering aluminium the “base metal for the green transition”.
Kaycan LTD., construction materials and aluminium extrusions provider hailing from Montreal, Canada, was successfully acquired by Saint-Gobain on July 29 with an investment of US$928 million, after a month-old announcement by the company on May 31, 2022. Kaycan is the leading supplier of polymer shakes, engineered wood siding, vinyl and aluminium siding in Canada plus the US states.
On Monday, August 1, Nemak, S.A.B. de C.V., Mexico-based aluminum auto components supplier, announced to seek the Aluminium Stewardship Initiative (ASI) performance standard certification. Nemak CEO Armando Tamez believes the certification will put the production facilities on an accelerated path in line with the Performance Standard principles and criteria.
According to the Shanghai Metals Market review, China produced 128,000 tonnes of lithium-battery aluminium foil (battery foil) in 2021, which accounted for nearly 2.8 per cent of the country’s total aluminium foil output and registered a year-on-year surge of 83 per cent.
Hindalco Industries Limited back-to-back reduced its aluminium products and aluminium ingot prices, with effect from August 4, following a slash of INR 4,250 per tonne on August 3. On August 4, the company cut its aluminium wire rod price by INR 3,000 per tonne or 1.28 per cent to stand at INR 232,100 per tonne versus INR 235,100 per tonne on the previous day.
To know more: https://www.alcircle.com/news/hindalco-back-to-back-cuts-aluminium-wire-rod-billets-prices-by-inr3000-t-on-august-4-82192
On Wednesday, August 3, Novelis released the first quarter financial results for fiscal year 2023, reporting a 28 per cent year-on-year rise in net income attributable to shareholder to a record $307 million and a 1 per cent increase in net income from continuing operations to also at $307 million.
Greek aluminium extrusion provider Etem Group and the Spanish automotive components supplier, Gestamp, signed a partnership deal, resulting in a joint venture called Etem Gestamp, that has now adhered to a ten years power purchase agreement (PPA) with a Bulgarian renewable energy investor, Growth for 4 GWh of solar energy annually, as was reported by consultant, Elnova on August 3.
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LOTTE Aluminium, a Seoul-headquartered diverse aluminium products manufacturer, will reportedly build an aluminium foil producing plant in Hardin County, Kentucky. The project will involve an investment of $238.7 million and create 122 full-time jobs.
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