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The aluminium downstream sector had a lot going on this week from Hindalco’s aluminium billets and wire rod prices shrinking by 2% to the Zimbabwean President visiting his country’s aluminium wire assets on a quest to encourage people for a sustainable future. According to Shanghai PMI (Purchasing Managers’ Index) reports, China witnessed a month-on-month rise in the aluminium sector but overall fell to achieve standard points on a year-on-year basis.
Granco Clark supplied APEL Extrusions, Inc. with a complete Heating, Handling, and UBE Press System while in Malaysia Press Metals vouched to raise US$231 million to rejuvenate its machining facilities in order to cope with the Russia-Ukraine crisis situation.
{alcircleadd}War uses up all the essential commodity products marking a rise in public demand, in turn, making the common people suffer the whip of hoisted prices. Yet it is encouraging to know industries are adapting quite fast to embrace any possible change in the aluminium industry and are moving towards faster, efficient production.
Envisage Technologies, a part of the global Envisage Group, decided to install two new Belloti 5-axis CNC machines for its Herald way machining Centre in Coventry in the wake of April. An investment of £1.5 million has already been made for the procurement of the above-stated machines along with the complete modernisation of its existing MECOF Agile 5.3 axis CNC machine.
On the 31st of March 2022, Linamar Corporation announced their agreement with GF Casting Solutions (GF) to earn 50% interest in their joint venture, GF Linamar LLC which is located near Mills River, North Carolina. GF Casting Solutions is an extended arm of Georg Fischer which was founded in 1802 and is one of the most trusted manufacturing units in Switzerland and also greater Europe.
The Aluminium Stewardship Initiative (ASI) is a business-led initiative aimed at promoting sustainability throughout the aluminium value chain. On Tuesday, April 5, Symetal's aluminium foil rolling plant (Oinofyta) and aluminium foil conversion facility (Mandra) in Greece has been successfully accredited against the ASI Performance Standard for responsible aluminium production, procurement, and stewardship.
The President of Zimbabwe Emmerson Mnangagwa stated the highest truth for the betterment of his people by saying African countries should look inward for sustainable development, giving particular importance to infrastructure and energy as that is the most vital source of steady economic growth.
To know more: https://www.alcircle.com/news/zimbabwean-president-during-his-mozambique-tour-visits-energy-and-aluminium-wire-assets-78035
Press Metal Aluminium, the Malaysian aluminium giant, ruled by Koon Poh Keong and his brothers is raising US$231 million to further facilitate the group’s output amidst deteriorating supply cycles due to the Ukraine-Russia conflict.
To know more: https://www.alcircle.com/news/press-metal-plans-to-raise-us231-million-to-upgrade-production-capacity-78038
According to the monthly PMI report presented by the Shanghai Metals Market, the composite PMI reading for China’s aluminium downstream processing sectors came in at 49.1 in March, recording a month-on-month rise of 19.8 percentage points and a year-on-year decline of 14.1 percentage points.
Hindalco Industries Limited continued to trim its aluminium products and aluminium ingot prices as the LME aluminium ingot price keeps pursuing a downtrend. With effect from April 6, Hindalco has reduced its aluminium wire rod price by INR 3,000 per tonne to INR 304,850 per tonne. On April 5, the price stood at INR 307,850 per tonne, seeing a cut of INR 6,250 per tonne from the previous day.
To know more: https://www.alcircle.com/news/hindalcos-aluminium-wire-rod-billets-prices-further-dwindle-by-inr3000-t-on-april-6-78036
Vedanta’s aluminium wire rod price saw a trim of INR 3,000 per tonne or 1 per cent to INR 301,500- 309,000 per tonne versus INR 304,500-312,000 per tonne on April 5. Vedanta’s aluminium billet price has also been cut by INR 3,000 per tonne to INR 302,000 per tonne as of April 6. On April 5, the aluminium billet price stood at INR 305,000 per tonne, seeing a downfall of INR 4,250 per tonne from the previous day.
China’s aluminium billet inventory has been on the decline side since Thursday, March 10. As per the latest data by SMM, on Thursday, April 7, aluminium billet inventory augmented by 8,100 tonnes or 5.12 per cent W-o-W to score at 165,600 tonnes.
To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventory-augments-as-pandemic-weakens-consumption-78050
In a list put together by the Institute of Chartered Professional Managers of Sri Lanka (CPM), for the period 2020-2021, Swisstek Aluminium Limited has ranked among the top 10 best-managed companies in the country.
Niche Fusina Rolled Products S.r.l. (Niche Fusina), a newly conjugated Italian company commissioned under partners of DADA Holdings LLC (DADA), Concord Resources Limited (Concord) and the National Agency for Inward Investment and Economic Development in Italy, Invitalia , obtained the business unit of Slim Fusina Rolling S.r.l. (Slim Fusina), which mainly deals with the production and sale of aluminium alloy rolled products.
APEL Extrusions, Inc. is expanding its production capacity quickly in the new Phoenix, AZ facility. Apel has officially commissioned Granco Clark and UBE to provide equipment for a second press line in their new facility.
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