Downstream products weekly recap: Hindalco proposes to repay INR 6,000 crore debt; Evtec acquires Sanjeev Gupta’s Liberty Aluminium Technologies
The downstream segment of the global aluminium industry remained insightful this week, with the world’s largest aluminium rolling company, Hindalco plans to repay INR 6000 crore debt and it also projects to marginally reduce the capital expenditure to INR 2,400 crore. The same Hindalco Industries has also regained the place of the world’s most sustainable aluminium firm in the Dow Jones Sustainability Indices 202. While on the other side, Evtec acquires Sanjeev Gupta’s Liberty Aluminium Technologies. Gupta’s GFG Alliance, since the fall down of its primary lender Greensill Capital in March 2021 has gone through months of restructuring. The UK’s largest automotive manufacturing employer, JLR mediated to solicit Evtec to take over the sites due to the concern over whether Liberty’s distress would disrupt supplies of vital components, as the Midlands sites manufacture lightweight aluminium parts primarily for car powertrains.
The global leader in aluminium production, RUSAL in association with Kamensk-Uralsky Metallurgical Works J.S.Co (KUMZ), one of the largest downstream companies in Russia has successfully debuted the production of various rolled and pressed semi-finished products from an aluminium-magnesium-scandium alloy of grade 1581. The semi-finished products supplier in aluminium and magnesium alloys, KUMZ, as a part of this collaboration organised the commercial production of plates and sheets from ingots, produced by the Krasnoyarsk aluminium smelter following a specially developed rolling technology.
On 12th November 2021, the United States stated that it had initiated dialogue with Japan focused on diminishing US tariffs on metal imports like aluminium and steel, which were imposed under former President Donald Trump, following Washington attainted a deal on the same metal tariff issue with the European Union. Katherine Tai, the US Trade Representative and Gina Raimondo, Commerce Secretary specified ‘distortions’ engendered by global overproduction propelled by China, said: “The United States and Japan will seek to resolve bilateral concerns in this area.”
To know more: https://www.alcircle.com/news/us-initiates-dialogue-with-japan-focusing-on-aluminium-and-steel-import-tariffs-72864
Aluminium billet inventories in China dropped again by 11,700 tonnes week-on-week across five major consumption areas, found the Shanghai Metals Market. As a result, the inventories closed at 100,500 tonnes as of Thursday, November 18.
Aluminium foil deliveries from Europe slowed down in Q3 2021 compared to Q2, but remained ahead of the same period last year, according to data revealed by the European Aluminium Foil Association (EAFA). In Q3 2021, total deliveries stood at 236,500 tonnes, up 1.2 per cent year-on-year.
To know more: https://www.alcircle.com/news/european-foil-shipments-climb-up-1-2-y-o-y-to-236-500-tonnes-in-q3-2021-eafa-72898
The Indian multinational aluminium and copper manufacturing company, Hindalco Industries formulates to repay INR 6,000-crore debt from next June to pull down its debt further. The metal company has narrowed its net debt to INR 66,831 crore as of September end against INR 78,266 crore documented in the same phase the previous year.
To know more: https://www.alcircle.com/news/hindalco-proposes-to-repay-inr-6-000-crore-debt-plans-to-scale-down-capital-expenditure-72885
Aconity3D, a 3D printer company, and Equispheres, an AM powder expert, have reached an early and promising milestone in a collaboration effort. The firms achieved 60 percent quicker printing rates without losing mechanical qualities using Aconity3D's 1-kW MIDI system and Equispheres' aluminium powder.
To know more: https://www.alcircle.com/news/aconity3d-reaches-milestone-by-achieving-60-faster-print-speed-with-equispheres-aluminium-72919
The pioneers and innovators for integrated solutions in additive manufacturing EOS GmbH, has announced the addition of EOS Aluminium Al2139 AM, a new material distinctively developed for Additive Manufacturing. The alloy is set forth to offer high performance in elevated temperatures up to 200°C, superior corrosion resistance and is the highest-strength AM aluminium alloy obtainable from EOS.
To know more: https://www.alcircle.com/news/eos-rolls-out-new-high-strength-lightweight-al2139-aluminium-alloy-72911
Hindalco Industries has once again bagged the title of the world’s most sustainable aluminium firm in the Dow Jones Sustainability Indices 2021. In the 2021 edition of the S&P Dow Jones Sustainability Indices (DJSI) corporate sustainability assessment (CSA) rankings, Hindalco was ranked first in the aluminium industry for its sustainability performance. Hindalco is the sole aluminium business to be admitted to the elite DJSI World Index in 2021, and its membership in the DJSI Emerging Markets Index remains unchanged.
The Hamburg based high-performance aluminium alloys producer to supply the entire world of 3D printing, Fehrmann ALLOYS has appointed Jan-Peter Derrer, as the new Head of Sales. He is an industry renowned expert in 3D printing systems for the sale of new metal alloys.
To know more: https://www.alcircle.com/news/hamburg-based-fehrmann-alloys-appoints-jan-peter-derrer-as-new-head-of-sales-72875
The founder of Liberty House Group and the Executive Chairman of GFG Alliance, Sanjeev Gupta has sold out two aluminium parts factories after Jaguar Land Rover (JLR) set its foot to acquire a vital part of its supply chain. The single source, a tier-one supplier of assembled products, working with OEMs around the world to support the automotive industry's shift to electrification, the Coventry based Evtec will buy out Liberty Aluminium Technologies casting plants in Coventry and Kidderminster in the West Midlands, safeguarding 170 jobs. Even so, GFG is shutting down a site in Witham, Essex, which will lay off 64 jobs.
Evtec acquires Sanjeev Gupta’s Liberty Aluminium Technologies, Essex plant to close down
Next articleHindalco’s aluminium wire rod and billets prices undergo a cut of INR2750/t with effect from November 19
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