您想继续阅读英文文章还
是切换到中文？
是切换到中文？
THINK ALUMINIUM THINK AL CIRCLE
The week witnessed the end of the year 2021 and also welcomed the New Year 2022 with lots of hope. The downstream segment of the aluminium industry remained still eventful in the last days of the year, as Egyptalum inked a contract with Consulting Engineering Group (CEGMAN) to undertake a feasibility study for the vehicle rims manufacturing line project, while on the other hand Oman’s mining and mineral processing industry, Minerals Development Oman (MDO) has initiated a collaboration with Synergies Casting Oman to acquire a 14.8% stake in the company’s shareholding.
According to the Shanghai Metals Market, aluminium billet inventories in China surges by 5,700 tonnes week-on-week across five major consumption areas. As a result, the inventories closed at 80,300 tonnes, as of Thursday, December 30. Except for Nanchang, inventories climbed in four main markets this week. Huzhou's inventory increased by 3,000 per tonne, or 27.27%, while Foshan's increased by 2,900 per tonne, or 8.31%, accounting for the majority of the weekly increases. By the end of the year, the aluminium billet market had become quiet as most firms were preoccupied with controlling cash flow. As a result, orders were cut and the market remained calm.
To know more: https://www.alcircle.com/news/aluminium-billet-inventories-in-china-hikes-by-5-700-tonnes-to-peg-at-80-300-tonnes-74251
Hindalco Industries Limited has slashed both of its aluminium wire rod and billets prices, with effect from Thursday, December 30. The company’s aluminium wire rod price has witnessed a cut of INR 3,750 per tonne to stand at 256,600 per tonne, as against INR 260,350 per tonne on December 25. Hindalco’s aluminium billets price has also been cut by INR 3,750 per tonne on December 30 from INR 263,350 per tonne to INR 259,600 per tonne.
The flagship company of Oman’s mining and mineral processing industry, Minerals Development Oman (MDO) has instituted an alliance with Synergies Casting Oman to acquire a 14.8% stake in the company’s shareholding. Synergies Casting Oman is envisaging to functionalize an alloy wheel manufacturing plant in Sohar Industrial Estate. The alloy wheel plant that is currently under construction is anticipated to commence commercial operations in Q1 2022.
The Indian government took measures to safeguard the domestic producers from cheap imports from the neighbouring country by imposing anti-dumping duties on five Chinese products, including specific aluminium goods among others. Under a discrete notification of the Central Board of Indirect Taxes and Customs (CBIC), the duties have been imposed on definite flat-rolled products of aluminium among other products.
To know more: https://www.alcircle.com/news/india-imposes-anti-dumping-duties-on-five-chinese-products-including-aluminium-74224
According to a statement filed with the Egyptian Exchange (EGX), Egypt Aluminum (Egyptalum) (EGAL) has signed a contract with Consulting Engineering Group (CEGMAN) to undertake a feasibility study for the vehicle rims manufacturing line project.
To know more: https://www.alcircle.com/news/egypt-aluminum-signs-a-contract-with-consulting-engineering-group-for-feasibility-study-74246
The government of India may ponder slashing import duties on products like aluminium, steel, copper, etc. in the budget to dispense some relief to SMEs that have been heavily impacted by the escalation of input costs, as reported by two industry experts aware of this development. The experts also commented that an announcement on this is anticipated in the upcoming budget. However, no one from the ministry has commented on this as of yet.
To know more: https://www.alcircle.com/news/india-govt-may-slash-import-duties-on-aluminium-and-other-commodities-sources-74220
Responses
