Downstream aluminium weekly: Sistem Teknik installs homogenising furnace at old Alcoa smelter owned by Sider Alloy Italia; Swiss National Bank elevates Kaiser Aluminium shares by 7.4%
The downstream sector has seen major advancements this week with Sistem Teknik installing a homogenising furnace at the former Alcoa smelter at Portoscuso, Italy which is presently owned by Sider Alloy Italia. This will enhance the billet forging process due to the incorporated electric heater cassettes and fans while saving major capital investment. Effective from September 1, Vedanta has cut down its aluminium wire rod price by INR 3,250 per tonne which has been an extreme hit and is the result of downgrading LME aluminium prices. The Swiss National Bank single-handedly raised Kaiser Aluminium’s shares by 7.4 per cent with the purchase of 2,600 additional stock shares of the company, closing in at 37,500 shares in all, costing US$3,531,000.
Alcoa’s old smelting unit, situated at Portoscuso, Italy, is to be rejuvenated by the efforts of Sider Alloy Italia with a considerable amount of investment. The company’s agreement with Sistem Teknik, a leading maker of industrial furnaces for more than four decades, has resulted in the delivery of a homogenising furnace to be installed in the plant.
On Friday, August 26, Aluminium Stewardship Initiative (ASI) announced that Iberfoil Aragón SLU's rolling and laminating facilities in Sabiánigo, Spain, were accredited with the ASI Performance Standard V2 (2017) Certification. Laminated foil and coil are the two commercial divisions of the company.
To know more: https://www.alcircle.com/news/asi-grants-performance-standard-v2-2017-certification-to-iberfoil-aragon-slu-83412
On Thursday, August 25, Australian Aluminium Council announced the joining of Alspec Aluminium Systems as its new council member. Alspec is a significant player in Australia's downstream aluminium market, offering a wide selection of aluminium systems and products to architects, specifiers, fabricators, builders, and renovators for use in commercial, residential, home improvement, and industrial applications.
To know more: https://www.alcircle.com/news/alspec-joins-australian-aluminium-council-as-its-new-member-83416
Nanjing Chervon Auto Precision Technology Co., Ltd joined Aluminium Stewardship Initiative as its new Industrial User member. Chervon's primary business activities include developing, manufacturing, and selling essential automotive components. A product system focusing on vehicle heat exchange parts, transmission parts, engine parts, and new energy auto components has steadily developed.
To know more: https://www.alcircle.com/news/nanjing-chervon-auto-precision-technology-joins-asi-as-new-industrial-user-member-83458
Vedanta Limited continued to expand its aluminium products and aluminium ingot prices on Saturday, August 27. The company hiked its aluminium wire rod price by INR 4,750 per tonne or 2 per cent to INR 237,250- 244,750 per tonne. On August 26, the price stood at INR 232,500- 240,000 per tonne, seeing an increase of INR 2,000 per tonne on the previous day.
To know more: https://www.alcircle.com/news/vedanta-expands-its-aluminium-wire-rod-price-for-the-second-day-in-a-row-by-2-on-august-27-83417
According to China Customs data, the country exported 93,300 tonnes of aluminium extrusion (HS codes 76041010, 76041090, 76042100, 76042910, 76042990) in July 2022. That was 10,600 tonnes or 12.8 per cent more than the previous month and 14.3 per cent higher than a year ago.
As per the report published recently, Swiss National Bank raised its share in Kaiser Aluminum Company, an American value-added aluminium producer, by 7.4 per cent during the first quarter of 2022. The institutional investor bought an additional 2,600 shares of Kaiser’s stocks, totalling 37,500 shares worth $3,531,000.
To know more: https://www.alcircle.com/news/swiss-national-bank-and-other-investors-enhance-share-position-in-kaiser-aluminum-83415
Vedanta Limited has continued to cut its aluminium products and aluminium ingot prices, with effect from Thursday, September 1, for the second day in a row. The company has cut its aluminium wire rod price by INR 3,250 per tonne to sell the product at INR 225,750-233,250 per tonne. On September 31, Vedanta’s aluminium wire rod price stood at INR 229000-236500, significantly down by INR 8,250 per tonne from the previous day.
To know more: https://www.alcircle.com/news/vedanta-back-to-back-cuts-its-aluminium-wire-rod-price-by-inr3250-t-83453
Hindalco Industries Limited has continued to significantly cut its aluminium products and aluminium ingot prices for the second consecutive day, with effect from Friday, September 2. The company has reduced its aluminium wire rod price by INR 14,000 per tonne or 5.96 per cent to INR 220,850 per tonne versus a cut of INR 8,000 per tonne on August 31 to INR 234,850 per tonne.
Aluminium billet inventories in China slump by 500 tonnes W-o-W to 119,700 tonnes
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