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THINK ALUMINIUM THINK AL CIRCLE
The downstream segment of the aluminium sector is considered the most vital player due to the delivery of its multifaceted products, while the week has remained highlighted due to several reasons. The quarterly and half-yearly reports are gradually getting published, as Novelis, the world-leading producer of aluminium rolling and recycling reported that its net sales improved 38% year-on-year in 2QFY22 from $3 billion to $4.1 billion, primarily driven by a 5% increase in shipments and higher average aluminium prices. Arconic’s revenue from aluminium rolled products improved year on year from $1,092 million to $1,559 million in the September quarter. But from extrusions, it dipped from $82 million to $74 million.
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On 2nd November 2021, the Croatian parasol manufacturer VIS Promotex stated that it has taken over aluminium foundry Lipovica, with a focus to increase sales and exports. The Croatian aluminium foundry, Lipovica that manufacturers die-cast aluminium radiators, pressure casts and gravitational casts, exports its products to more than 10 markets.
To know more: https://www.alcircle.com/news/vis-promotex-acquires-croatian-aluminium-foundry-lipovica-71788
The United States and the European Union have settled to soften tariffs on the multi-billion dollars of aluminium and steel products in an attempt to undertake a trade discourse that has lingered over transatlantic relations since the era of the Donald Trump administration. The agreement undertakes in place a system of tariff-rate quotas that will grant exports of metals between the EU and the US with lesser levies up to a certain volume.
To know more: https://www.alcircle.com/news/g20-summit-us-eu-settles-to-soften-tariffs-on-aluminium-and-steel-71761
On Sunday, Commerce Secretary Gina Raimondo said that the US and the European Union (EU) had achieved an agreement to end a three-year dispute over tariffs on steel and aluminium imports from the region. According to Raimondo, the EU will withdraw its retaliatory taxes on American goods in exchange. On December 1, the EU was poised to raise tariffs on a variety of US exports, including Harley-Davidson motorbikes and Kentucky bourbon, to 50%.
The voice of the aluminium industry in Europe, European Aluminium affirms that the tariff-rate quotas, which will replace the existing 10% tariff on EU aluminium products under Section 232, will result in even more trade distortions. The association notifies it will create additional market instability for aluminium companies on both sides of the Atlantic.
On 4th October 2021, the Japanese Ministry of Economy, Trade and Industry stated that Minister Koichi Hagiuda has urged the United States to eliminate extra tariffs on aluminium and steel products imports from Japan in a meeting with Washington's trade representative.
To know more: https://www.alcircle.com/news/japan-urges-united-states-to-eliminate-extra-tariffs-on-aluminium-and-steel-71803
The Green Building Council of Sri Lanka (GBCSL) has awarded Alumex PLC the Eco-Label under the GREEN Labelling System for its full aluminium extrusion range, in recognition of sustainable production. Alumex PLC, a Hayleys Group Company, has been selected by the GBCSL as a strong example of sustainable manufacturing - an important contribution to attaining a common objective of building a healthy and sustainable future together.
To know more: https://www.alcircle.com/news/alumex-secures-green-labelling-certification-for-their-sustainable-production-techniques-71809
Power restrictions in China have “dramatically reduced” magnesium shipments to Europe, raising concerns that a scarcity of aluminium for packaging may result. The comments were made on November 3, during a non-ferrous metals panel discussion at the Bureau of International Recycling's (BIR) non-ferrous metals conference.
To know more: https://www.alcircle.com/news/chinas-power-rationing-may-cause-shortage-of-aluminium-for-the-packaging-industry-71811
According to the Shanghai Metals Market (SMM), aluminium billet inventories in China descended by 24,500 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled 138,300 tonnes on Thursday, November 4. The major reason behind the decline in aluminium billet inventories this week was mainly due to Foshan, whose inventory plummeted 22,300 tonnes, or 27.33%, for the week, followed by Nanchang's inventory dropping 3,000 tonnes, or 14.29%. Changzhou's stockpile increased by 1,500 tonnes, or 8.82%, from a week before.
To know more: https://www.alcircle.com/news/aluminium-billet-inventory-in-china-descends-by-24-500mt-this-week-to-settle-at-138-300mt-71801
Novelis Inc., the world leader in aluminium rolling and recycling, announced the second-quarter results of FY2021-22 on Wednesday, November 3, revealing net income of $237 million compared to a net loss of $37 million in Q2 FY2021. Net income from continuing operations stood at $239 million versus $144 million a year ago.
Arconic Corporation, an American industrial company specialized in lightweight metals engineering and manufacturing, has reported the third-quarter results of 2021, revealing a 34 per cent hike in sales year-on-year to $1.9 billion. On a quarter-on-quarter basis, it grew by only 5 per cent. Net income came in at $16 million or $0.15 per share, compared with $5 million or $0.05 per share in Q3 2020. Adjusted EBITDA increased 4 per cent Y-o-Y but decreased 9 per cent quarter-on-quarter to $171 million in Q3 2021.
On Wednesday, November 3, Century Aluminum Company declared that its wholly-owned subsidiary, Norðurál Grundartangi ehf (“Norðurál”), started off the construction of a new low-carbon billet casthouse at Grundartangi, Iceland smelter. The new value-added casthouse will have a capacity of 150,000 tonnes of billet production, expanding Grundartangi’s primary foundry alloys annual capacity from the current 60,000 tonnes to 120,000 tonnes. The $120 million worth project is expected to commence production in Q1 2024, creating approximately 90 new jobs.
The Foreign Minister of Serbia, Nikola Selakovic stated that Slovak aluminium alloys producer, Heneken has manifested interest in building a plant in the landlocked country of Central and Southeast Europe, Serbia. The Slovakian company, Heneken, other than trading of aluminium and aluminium alloys, while with further continuous development and synergy effects within industry created opportunities to trade commodities like silicon, magnesium, Mg alloys, lead, Pb alloys, zinc, Zn alloys and non-ferrous scrap.
To know more: https://www.alcircle.com/news/heneken-reckons-to-establish-aluminium-alloy-facility-in-serbia-71777
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