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THINK ALUMINIUM THINK AL CIRCLE
A lot had happened in the downstream segment of the global aluminium sector. To begin with, AlCircle launched its 9th edition of e-Magazine, “Global Aluminium Foundry: Challenges and Opportunities Ahead in 2022". The magazine highlights the role of aluminium foundries in the production of aluminium products. The e-magazine also discusses how the Covid-19 epidemic has impacted aluminium foundries, resulting in significant production halts in the automobile sector, as well as a decline in demand for the metal. This was followed by the news of AT Systematization Bhd (ATS), a wholly-owned subsidiary of AT Precision Tooling Sdn Bhd (ATP), has signed a $10 million value contract with Maschinenfabrik Rieter AG (Rieter) for the production of aluminium profiles for Rieter's Card and Ringspun segment.
AlCircle is excited to announce the launch of its 9th edition of e-Magazine "Global Aluminium Foundry: Challenges and Opportunities Ahead in 2022", whereby it has addressed the key roles played by aluminium foundries in the production of aluminium products. Aluminium foundries are functionalized to create aluminium metal castings. In the casting process, aluminium is melted in a liquid state, poured into a mould, and then extracted from the mould or cast once it has cooled and solidified. Aluminium is one of the most demanded metals in the industry after steel. Owing to its versatile nature, lightweight technology, the usage of aluminium has seen a considerable hike and is considered as one of the most important metals for its recyclability factor.
AT Systematization Bhd’s (ATS), the fully owned manufacturing unit of AT Precision Tooling Sdn Bhd (ATP) has set foot into a value contract with Maschinenfabrik Rieter AG (Rieter) towards the production of aluminium profiles for Rieter’s Card and Ringspun sector, which amounts to $10 million. On 9th February 2022, during the filing in Bursa Malaysia, the stock exchange of Malaysia, based in Kuala Lumpur, ATS stated, “The period for production validity is between Jan 1, 2022, and Dec 30, 2023.”
To know more: https://www.alcircle.com/news/at-systematization-bags-worth-10-million-contract-for-production-of-aluminium-profiles-76585
The Russian aluminium giant, Rusal has developed an optimised 5xxx series aluminium alloy for further anodising and commenced its production at the Bratsk Aluminium Smelter (BrAZ). The Technical Directorate of Rusal masterminded a general assessment of the alloy and organised its mass production. Moreover, the production of optimised 5005A alloy slabs will be launched, used by rolling mills to anodise coils and sheets. Presently, these products are only available to import, while the production of the new alloy in industrial volumes will provide Russian consumers with the 5xxx series, facilitating the development of high-processed products including facing panels, spotlights, and electrolytic capacitors.
To know more: https://www.alcircle.com/news/rusal-develops-a-new-aluminium-alloy-for-anodising-at-bratsk-aluminium-smelter-76590
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices on Saturday, February 5, in response to the LME aluminium price growth. With effect from February 5, Hindalco’s aluminium wire rod price witnessed a rise of INR 2,000 per tonne or 0.73 per cent from INR 273,850 per tonne to INR 275,850 per tonne. Hindalco’s aluminium billets price also grew by INR 2,000 per tonne on Saturday, February 5, to come in at INR 278,850 per tonne. On Wednesday, February 2, the price stood at INR 276,850 per tonne, seeing a cut of INR 2,000 per tonne.
On Monday, February 7, Novelis Inc., the world leader in aluminium rolling and recycling, announced its 3QFY2022 financial and operational results ended December 31, 2021, whereby it revealed the net income attributable to common shareholder at $262 million. That was year-on-year increase of 48.86 per cent from $176 million on 33 per cent higher sales to $4.3 billion in the third quarter, compared to $3.2 billion sales in the prior year period, primarily driven by higher average aluminium prices. According to the report published, the company’s net income from continuing operations increased to $259 million in 3QFY22 from $195 million in 3QFY21.
Hindalco Industries Limited has dramatically increased its aluminium products and aluminium ingot prices in line with the LME aluminium price growth to a four-month high. With effect from Wednesday, February 9, Hindalco’s aluminium wire rod price has hiked by INR 12,500 per tonne or 4.53 per cent to stand at INR 288,350 per tonne. Last week on February 5, Hindalco’s aluminium wire rod price stood at INR 275,850 per tonne, seeing a rise of INR 2,000 per tonne. The company's aluminium ingot price is currently standing at INR 277,250 per tonne, also up by INR 12,500 per tonne from INR 264,750 per tonne.
To know more: https://www.alcircle.com/news/hindalcos-aluminium-wire-rod-billet-prices-surge-by-inr12
The leading auto component manufacturer Endurance Technologies reported that the company’s profit after tax (PAT) reduced to half, which amounted to INR 94.6 crore in the December quarter (Q3FY22) due to infirm operational performance. The aluminium auto parts & equipment company had posted a PAT of INR 190 crore in the previous financial quarter (Q3FY21). Endurance Technologies consolidated revenue from operations was slashed 7% year-on-year (YoY) at INR 1,889 crore against INR 2,041 crore in the existing year quarter.
According to the US Geological Survey (USGS), United States imported 235,000 tonnes of US aluminium crude metals and alloys in November 2021 from Canada, showing a month-on-month escalation of 2,000 per tonne or 0.85%. In October 2021, 233,000 tonnes of US aluminium crude metals and alloys were imported from Canada, showing a hike of 32,000 tonnes from 201,000 tonnes in September 2020.
According to China customs data, the country’s aluminium foil exports from January to December 2021 reach a record high of 1.34 million tonnes, up by 7.73 per cent year-on-year. The previous high was 1.30 million tonnes in 2019. The annual export value of aluminium foil also reached a new high of $5.14 billion, reflecting a year-on-year increase of 34.2 per cent. The previous highest level was $4.30 billion in 2018. Customs data also showed that China’s export value of aluminium foil accounted for 1.48 per cent of the total export value of country’s all aluminium products.
To know more: https://www.alcircle.com/news/chinas-aluminium-foil-exports-reach-a-new-high-of-1-34-million-tonnes-in-2021-76595
According to the Shanghai Metals Market, aluminium billet inventories gained 17,600 tonnes or 7.04 per cent from Monday to close the week ended Thursday, February 10, at 267,500 tonnes. The inventories increased across each of the five regions in China as the overall demand for aluminium billets was sluggish. Foshan was the biggest contributor to the inventory growth on Thursday, with an increase of 9,100 tonnes or 7.23 per cent to 134,900 tonnes, followed by Wuxi, with a rise of 3,200 tonnes in inventories to 59,700 tonnes.
On Tuesday, January 8, Sierra Aluminum, announced that it would expand its extrusion, anodizing, and painting capacity by adding a greenfield plant in Mexicali, Mexico, as well as significant investments in its current California operations. Sierra Aluminum is one of the western United States' largest fully integrated aluminium extruders, serving clients in the building and construction, solar, and recreational vehicle industries.
To know more: https://www.alcircle.com/news/sierra-aluminum-to-expand-its-extrusion-capacity-in-mexicali-76578
According to a recent report, Hydro, a Norwegian aluminium producer, has decided to invest around NOK 47 million in the casthouse at its Årdal aluminium plant to improve safety, lower energy consumption and carbon emissions, and accelerate production. The investment is for installing a new preheating chamber, which will be used for preheating cold metal and post-consumer aluminium before being added to the casting process. The benefits of having a dedicated preheating chamber include casting process more efficient, safer, and use surplus heat from the casting furnace as an energy source.
To know more: https://www.alcircle.com/news/hydro-decides-to-invest-nok-47-million-in-upgrading-a-casthoouse-at-ardal-aluminium-plant-76588
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