Downstream aluminium weekly recap: Hydro completes acquisition of Hueck; US includes Russian aluminium extrusions in the 200% tariff bar
On February 24, 2023, the Joe Biden Administration slapped a 200 per cent duty on imports of Russian aluminium. According to the Aluminium Extruder Council, this directive will cover imports of Russian aluminium extrusion. Next.e.GO Mobile (e.Go) and Trafigura signed a memorandum of understanding (MOU) to establish a long-term supply chain management service agreement focusing on the supply of aluminium and battery metals like lithium, cobalt, and copper. Fonnov Aluminium, a high-quality aluminium extrusion firm and the top professional extrusion manufacturer in China, added a new product to its line of specially made aluminium extrusion products intended to improve the efficiency of hydrogen fuel cars. On February 28, Hydro finally acquired Hueck after receiving clearance from the German and Austrian competition regulators. The two companies inked an agreement for the same on December 2022.
The Joe Biden Administration announced a 200 per cent tariff on Russian aluminium imports on February 24, 2023. The Aluminium Extruder Council stated that this order would cover aluminium extrusion imports from Russia. Coupled with the new Aluminum Import Monitoring System (AIMS), importers must now declare their extrusions' import country and the source of the billet and ingot.
To know more: https://www.alcircle.com/news/us-includes-russian-aluminium-extrusions-in-the-200-tariff-bar-91111
Next.e.GO Mobile (e.Go), the Aachen-based German manufacturer of electric vehicles and sustainable mobility systems, signed a memorandum of understanding (MOU) with Trafigura to create a long-term supply chain management service agreement focussing on the supply of aluminium and battery metals like lithium, cobalt, and copper.
As per the reports, the acquisition will increase Hydro's market share in Germany and other European countries. It also established a strong foundation for future expansion in the extrusions and building systems sectors.
To know more: https://www.alcircle.com/news/hydro-completes-acquisition-of-hueck-ready-to-increase-its-market-share-in-europe-91137
The high-quality aluminium extrusion company and leading professional extrusion manufacturer in China, Fonnov Aluminium, introduced a new product to its fleet of customized aluminium extrusion products designed to increase the proficiency of hydrogen fuel vehicles.
To know more: https://www.alcircle.com/news/fonnov-aluminium-launches-seamless-aluminium-tubes-for-hydrogen-fuel-vehicles-91127
The Italian company that stands out in the world metal industry, FIMI Machinery announced the delivery of CTL 975 to Becker Aluminium-Service GmbH. Becker Aluminium is one of the leading German service centres, active in processing and supplying of aluminium flat products which equipped itself with a multiform levelling and cutting line for its headquarters in Böhnen in 2018.
To know more: https://www.alcircle.com/news/fimi-machinery-delivers-ctl-975-to-becker-aluminium-service-gmbh-91134
Tradeglaze, the Lincoln-based manufacturer of aluminium doors, windows, and uPVC, unlocked another significant achievement by installing the new Emmegi Phantomatic X4' CNC machining centre for its aluminium plant. The update was a part of the firm's ambitious expansion plan, which it expedited last year in response to the market's exceptional demand for construction and home renovation services.
Aluminium Stewardship Initiative (ASI) announced the joining of Midal Cables as the new Production and Transformation member. Founded in 1977, Midal is known for manufacturing aluminium rods, wires and overhead conductors for electrical transmission.
Vedanta’s aluminium wire rod price undergoes a hike of INR4500/t with effect from March 2
Next articleUS aluminium plates, sheets and bars exports hike 48% in 4Q2022; exports to Canada grow 7.63% to 74,800 tonnes
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