Downstream aluminium weekly recap: Carmakers to use latest aluminium casting technology for lightweight automobile components; Joe Biden refuses to lift extreme tax on Indian imported steel and aluminium
This week we have witnessed various noteworthy applications of aluminium through which the non-ferrous metal is gaining global recognition as a sustainable raw material. Aluminium is considered a suitable raw material by international automobile makers, as was revealed by a study that SINTEF conducted. The automobile makers are going to use Hydro's casting technology to produce lightweight aluminium components for cars. US President Joe Biden has refused to cancel the higher tax levied on the import of Indian steel and aluminium until the "fundamental issue" of excess capacity and the gradual activities that raised the problem are solved. To cope with the emerging market prices and the upcoming recession, the Federation of Indian Chambers of Commerce & Industry (Ficci), a non-governmental trade association, has advised the Government to increase the import duty by 12.5% on metal and its products in the FY2023-24 budget. Amidst all the political turmoil in Sri Lanka, Swisstek Aluminium Ltd. has bagged the reputable ISO 50001:2018 certification for its Energy Management System (EnMS) from Sri Lanka Standards Institute.
The family-owned private company dealing with non-ferrous metals with global headquarters in St. Louis, Missouri, Metal Exchange Corporation, has announced that Mark Butterfield has been promoted to President of Manufacturing.
To know more: https://www.alcircle.com/news/metal-exchange-corporation-promotes-mark-butterfield-to-president-of-manufacturing-89736
Swisstek Aluminium Ltd. has earned the respectable ISO 50001:2018 certification for its Energy Management System (EnMS) by Sri Lanka Standards Institute, making it the first enterprise in the country’s industrial history to secure such an honour.
To know more: https://www.alcircle.com/news/sri-lankas-swisstek-aluminium-acquires-reputable-iso-50001-2018-certification-89721
On January 18, Hammerer Aluminium Industries (HAI) was awarded the Performance Standard certification by Aluminium Stewardship Initiative (ASI) for the company's extrusion facility at the Chisineu-Cris site located in Romania.
To know more: https://www.alcircle.com/news/hais-chisineu-cris-extrusion-area-in-romania-enters-asi-performance-standard-89753
In December 2022, the average operating rate of aluminium extruders recorded a month-on-month drop of 1.4 percentage points and a year-on-year decline of 14 percentage points to stand at 36.5 per cent, found the Shanghai Metals Market data. The average operating rate of large enterprises was 37.8 per cent, mid-sized companies 35.8 per cent, and small firms 20.5 per cent.
Vedanta Limited lifted its aluminium products and aluminium ingot prices by INR 4,500 per tonne on Saturday, January 14. That brought the company’s aluminium wire rod price to INR 243,000-250,500 per tonne versus INR 238,500-246,000 per tonne on January 12.
To know more: https://www.alcircle.com/news/vedantas-aluminium-products-prices-witness-a-2-hike-with-effect-from-january-14-89710
American Aluminium Extrusion has acquired all stocks owned by businessman Diane Hendricks after 22 years of joint ownership held by Sam Popa and the former.
To know more: https://www.alcircle.com/news/roscoes-american-aluminium-extrusion-becomes-sole-proprietary-company-89716
According to a senior US government official, the US government under Joe Biden will not lift the higher import taxes levied by the Trump administration on aluminium and steel products made in India until the "fundamental issue" of excess capacity and the actions that contributed to the issue are resolved.
The Federation of Indian Chambers of Commerce & Industry (Ficci), a non-governmental trade association and advocacy group, has reportedly figured out the necessity of higher import duty on aluminium and aluminium products. According to a report, the association has sought at least 12.5 per cent of import duty on the metal and its products in the upcoming budget for FY2023-24.
To know more: https://www.alcircle.com/news/ficci-demands-12-5-duty-on-aluminium-imports-in-fy2023-24-union-budget-89745
The Guyana Manufacturing and Services Association (GMSA) and India's NBR Cooling Systems Pvt Ltd signed a Memorandum of Understanding (MoU) on Thursday, January 12, establishing a new manufacturing/assembly facility in Guyana that will concentrate on the engine cooling systems for motor vehicles. This agreement will also see the Indian corporation invest about $1 million in Guyanese companies.
The car manufacturing process could be completed with much more reduced cost, eco-friendly, and rapid with new aluminium component production state-of-art technology.
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