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THINK ALUMINIUM THINK AL CIRCLE
The downstream segment of the global aluminium industry has always been the most vital part of the sector, as the downstream segment also refers to engineered products and solutions. The American multinational automotive manufacturing company, General Motors plans to upgrade Indiana aluminium die casting foundry to support electric pickup. The renovation work is all set to commence immediately at the foundry. This investment is another example of the company bringing along our workforce in our journey to an all-electric future while we strengthen our current products. An investigation found that China’s aluminium converter foil dumping had caused significant impacts on the EU industry; firstly, by forcing the Union industry to a loss-making price level and secondly, by losing market share. Hence, the tariffs were an important measure to defend the domestic industry.
According to a recent report, the United Kingdom Trade Secretary Anne-Marie Trevelyan will press the United States Commerce Secretary Gina Raimondo on Tuesday, December 7, to remove Trump-era tariffs on British aluminium and steel.
To know more: https://www.alcircle.com/news/uk-to-press-us-to-withdraw-tariffs-on-aluminium-and-steel-73054
On Wednesday, December 8, South Korea’s antitrust regulator said a decision is taken to impose a combined 20.7 billion won ($17.6 million) in fines on eight aluminium alloy makers for plotting to fix bidding prices. Altechno Metal, specialised in producing aluminium ingot, rolling and drawing, along with seven other firms colluded to fix their quotations between 2011 and 2021 for bids on aluminium alloy products by the country’s largest carmaker Hyundai Motor Co. and its affiliate Kia Corp., according to the Fair Trade Commission (FTC).
On 8th December 2021, the American multinational automotive manufacturing company, General Motors announced its plan to spend $51million to install new state-of-the-art equipment at Bedford, Indiana aluminium die casting foundry to manufacture drive unit castings for the upcoming Chevrolet Silverado EV and other current casting applications.
Denso Corporation, a global automotive components manufacturer, has acknowledged its collaboration with Hydro Precision Tubing, Hydro’s aluminium extruded tubes and profiles manufacturing unit, by giving them the prestigious DENSO Award for Excellent Collaboration for Sustainability Initiatives in 2020. With the commitment to reduce CO2 emissions, DENSO has appreciated the proactive collaboration provided by the aluminium tubing team in Denmark.
Shares of three notable aluminium makers recorded higher in trade, followed by the Central Government’s announcement of the imposition of anti-dumping duty on select aluminium products imported from China. National Aluminium Company’s share was traded higher by 5.77%, Hindalco Industries shares up by 4.54% and Vedanta Limited up by 2.26%.
Hindalco Industries Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, December 7. Hindalco’s aluminium wire rod price has seen a cut of INR 3,000 per tonne from INR 243,600 per tonne on December 4 to INR 240,600 per tonne on December 7.
According to the survey conducted by the Shanghai Metals Market, the conversion margins of aluminium billet are standing high for a long. The inventory of billet is falling over the past seven weeks but is likely to enter a new round of accumulation, given the fall in shipments amid sluggish downstream purchases.
Aluminium Stewardship Initiative welcomes apt Holding GmbH as the new Production and Transformation member. With this, the total count of ASI members comes to 204. The apt Group is one of the most well-known business conglomerates in the European aluminium sector. They create and produce technologically superior extruded profiles and mechanically processed products from aluminium through their apt Extrusions and apt Products divisions.
To know more: https://www.alcircle.com/news/asis-total-count-of-members-grows-to-204-with-the-joining-of-apt-group-73104
The European Commission has reportedly levied definitive anti-dumping duties, ranging from 15.4% to 28.5%, on imports of aluminium converter foil originating in the People’s Republic of China. The objective is to protect domestic companies and workers in this sector.
To know more: https://www.alcircle.com/news/eu-imposes-definitive-anti-dumping-duties-on-chinas-aluminium-converter-foil-73098
The global leader in aluminium engineering, manufacturing and innovation, Gränges has secured the Platinum rating award from EcoVadis, the world’s largest and most trusted provider of business sustainability ratings. Platinum is the highest rating awarded by EcoVadis and it positions Gränges among the leading 1% of companies assessed globally in its industry.
To know more: https://www.alcircle.com/news/granges-bags-ecovadis-platinum-award-for-ranking-in-global-sustainability-ratings-73083
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