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THINK ALUMINIUM THINK AL CIRCLE
The global aluminium industry's most crucial, downstream segment remained highlighted due to some of the potential news. The global law firm Curtis, which represents a number of international clients brought victory to Govt. of Oman and Oman Aluminium Rolling Company in the US trade case. Curtis further stated that their international team, comprising lawyers in Muscat, Geneva, and Washington, successfully beat back the allegations. The Chinese aluminium foil exports have recorded growth by 19% in August 2021 to 115,400 tonnes. However, China is facing the heat of power shortage, which has driven multiple industries to close down, while aluminium industries were forced to curb their production.
After two consecutive declines on September 25 and 28, Hindalco Industries Limited has increased its aluminium products and aluminium ingot prices with effect from Thursday, September 30. Hindalco’s aluminium wire rod price has come in at INR 260,100 per tonne, up by INR 3,500 per tonne from INR 256,600 per tonne.
Hindalco Industries Limited has further lowered its aluminium products and aluminium ingot prices on Tuesday, September 28, in line with the back-to-back LME aluminium price fall. With effect from September 28, Hindalco has reduced its aluminium wire rod price by INR 1,500 per tonne to INR 256,600 per tonne. On Saturday, September 25, the company’s aluminium wire rod price stood at INR 258,100 per tonne, down by INR 2,500 per tonne from the previous day.
According to the Shanghai Metals Market, aluminium billet inventories have grown marginally by 500 tonnes week-on-week across five major consumption areas to stand at 157,500 tonnes as of Thursday, September 30. Among all the major Chinese cities, Nanhai has contributed the maximum to the growth in inventories this week, found SMM.
According to China customs data, aluminium foil exports into China during August 2021 stood at 115,400 million tonnes, which reflected a month-on-month increase of 19.28 per cent and a year-on-year rise of 14.08 per cent. The top six importers of China’s aluminium foil include the United Arab Emirates, Mexico, India, Japan, Indonesia, and South Korea, each accounting for over 5 per cent of the total.
To know more: https://www.alcircle.com/news/chinas-aluminium-foil-exports-record-a-19-rise-in-august-2021-to-115-400-tonnes-70486
The international law firm Curtis that represents clients globally from corporations and governmental entities to emerging entrepreneurs declared that its international trade practice brought a significant victory for the Govt. of Oman and local aluminium sheet and foil producer, Oman Aluminium Rolling Company (OARC), in a year-long probe by the US Department of Commerce into allegations that the sultanate unfairly capitalized OARC’s operations.
To know more: https://www.alcircle.com/news/curtis-brings-victory-to-oman-aluminium-rolling-company-in-the-us-trade-case-70506
On Tuesday, September 28, the supervisory board of AMAG Austria Metall AG, a supplier of premium aluminium cast and rolled products, announced that they extended the contract with their Chief Sales Officer (CSO) Victor Breguncci. The extension of the contract will allow Mr Breguncci to head AMAG's sales agenda for another four years. Together with the sales team, he will concentrate on the strategic development of existing and new markets and on optimizing the product portfolio in the market for high-quality aluminium products.
Braidy Industries, formerly known as Unity Aluminum, is a Kentucky based aluminium manufacturing company. The company in 2017 promised to build a US$1.7 billion aluminium mill near Ashland, for which, the legislature invested around US$15 million in the company. Craig T. Bouchard, the former CEO and founder of Unity Aluminum promised that the new aluminium mill would be completed by 2020 to produce aluminium sheets for the automotive industry. The mill was also expected to provide 550 well-paid jobs in Ashland.
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