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THINK ALUMINIUM THINK AL CIRCLE
The aluminium downstream sector remained insightful during the week. However, the political instability in the world’s second-largest producer of bauxite, Guinea has installed another gear to the hike in the price of aluminium and it reached to 13years high of $3000 per tonne. Bulgaria’s Alcomet, the leading manufacturer of aluminium rolled and extruded products in the country have put into operation a new facility for processing aluminium profiles following an investment of € 6.9 million. The diversified financial services company engaged in investment banking and capital markets, asset management and direct investing, Jefferies Indian analyst stated in their note that the fresh upturn in aluminium prices has geared up earnings outlook for Hindalco.
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The hitch in the aluminium supply chain that has agitated the global commodity markets, while propelling the prices to a 13-year high in the previous week is unrealistic to prosper pretty soon. During North America’s largest aluminium conference ‘Harbor Aluminium Summit’, this was the message which has come from producers, consumers, traders and shippers.
Elval, the only Greek producer of flat-rolled aluminium products, has been acknowledged by the Aluminium Stewardship Initiative against the Chain of Custody Standard certification. The news came after ASI announced that it successfully certified the aluminium rolling division of Elvalhalcor S.A. for the facility in Oinofyta, Greece.
The Scepter Group, a recognized leader in aluminium dross and scrap recycling, announced on Wednesday, September 15, that it signed a multi-year agreement with rolled products major Novelis to supply more than 200,000 tonnes of low carbon rolling slab with up to 95 per cent recycled content. The Scepter Group will produce the slab ingot at its facility at Waverly plant and supply it to Novelis’ rolling mill in Oswego, New York, and its Logan Aluminum joint venture mill in Russellville, Kentucky.
To know more: https://www.alcircle.com/news/scepter-group-to-supply-novelis-with-200-000-tonnes-of-low-carbon-aluminium-rolling-slab-70377
The global leader in the production of low carbon aluminium, Rusal declared that its aluminium-scandium alloy has been included in the Russian Maritime Register of Shipping. An amendment issued by the classification society of the Russian Maritime Register of Shipping regarding the Rules for the classification and Construction of Sea-Going Ships, Rules for Technical Supervision for construction of ships and also for Manufacture of Materials and Products for ships.
To know more: https://www.alcircle.com/news/russian-maritime-register-of-shipping-includes-rusals-aluminium-scandium-alloy-70368
A Prince George County-based aluminium extrusions manufacturer has announced that it will expand its operations to meet the increasing demand of the customers. Service Center Metals, specialised in the sale and distribution of soft aluminium extrusions, is likely to invest $101.7 million for the expansion, which in turn will create around 94 new jobs. The announcement was made on Tuesday, September 14, by the company and the office of the governor.
According to the latest update, the European Commission has yet not taken a final decision whether it will suspend the imposition of definitive anti-dumping duties on aluminium flat-rolled products imports from China or not. This news came after a European Union official told S&P Global Platts in an emailed statement that "The anti-dumping investigation on imports of aluminium flat-rolled products originating in China initiated on 14 Aug. 2020, is still ongoing. Definitive measures, if any, must be imposed by Oct. 11."
On 16th September 2021, Alcomet, the leading manufacturer of aluminium rolled and extruded products in Bulgaria stated that it put into operation a new facility for processing of aluminium profiles following an investment of € 6.9 million. Alcomet in a bourse filing stated that the new equipment will capacitate the company to manufacture aluminium components for electric cars.
To know more: https://www.alcircle.com/news/alcomet-commences-the-operation-of-new-facility-for-processing-of-aluminium-profiles-70384
Vedanta Limited expanded its aluminium products prices by INR 6,250 per tonne on Saturday, September 11, bringing its aluminium wire rod price to INR 254,250-261,750 per tonne, in comparison with INR 248,500-255,500 on Friday, September 10.
To know more: https://www.alcircle.com/news/vedanta-expands-its-aluminium-billet-wire-rod-prices-by-inr6250-t-70347
The continuous upsurge in aluminium prices and disorder in global bauxite supply has attracted investors keen towards integrated aluminium producers such as Hindalco. The diversified financial services company engaged in investment banking and capital markets, asset management and direct investing, Jefferies Indian analyst stated in their note that the fresh upturn in aluminium prices has geared up earnings outlook for Hindalco. They further added: “Any supply disruptions in bauxite due to political issues in Guinea will further benefit Hindalco as it has captive bauxite mines.”
To know more: https://www.alcircle.com/news/aluminium-price-upsurge-improves-hindalco-s-earnings-outlook-jefferies-india-70369
Vedanta Limited has continued to grow its aluminium products prices for the fifth time in a row, with effect from Tuesday, September 14. According to the price list revealed by Vedanta, its aluminium billets price has come in at INR 258,750 per tonne, up by INR 4,000 per tonne or 1.57 per cent from INR 254,750 per tonne on September 11.
To know more: https://www.alcircle.com/news/vedanta-continues-to-grow-aluminium-billet-price-by-over-1-5-to-sell-it-at-inr258-750-t-70362
According to the Shanghai Metals Market, aluminium billet inventories in China have grown for the third week in a row, albeit lower than the previous weeks. SMM data shows the inventories have gained only 3,340 tonnes across five major consumption areas to stand at 148,840 tonnes on September 16. Last week, China’s aluminium billet inventories came in at 145,500 tonnes after increasing by 6,500 tonnes week-on-week.
To know more: https://www.alcircle.com/news/aluminium-billet-inventories-in-china-grow-for-the-third-week-in-a-row-to-148-840-tonnes-70380
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