Downstream products weekly recap: Lewisport aluminium rolling mill to receive $167 million investment from Commonwealth Inc.; Exco Technologies to acquire extrusion dies business of Halex Holdings GmbH
The most vital segment of the global aluminium industry, the downstream division remained highlighted even during the last week and ending days of 2021. The world suffered heavily due to the deadly Covid-19 virus both in 2020 and as well as in 2021. In every corner of the world, the manufacturing industry was hugely impacted by close-downs, lay-offs, etc. The Covid pandemic is still not over, as many variants are emerging and keeping the fear alive. But, our hope remains positive for 2022 for a better world, for a better living. However, coming to the business, the downstream witnessed some major funding and also acquisitions this week.
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According to the Shanghai Metals Market, aluminium billet inventories in China dropped by 900 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled 74,600 tonnes as of 23rd December. Only the inventory in Foshan increased by 4,200 tonnes, or 13.68%, while stockpiles in Wuxi, Changzhou, and Nanchang all decreased, with Changzhou accounting for the majority of the losses (down 3,100 tonnes, or 25.83%).
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices back-to-back on Saturday, December 18. The company grew its aluminium wire rod price by INR 5,000 per tonne or 2.03 per cent from INR 245,850 per tonne on December 17 to INR 250,850 per tonne. Hindalco’s aluminium billets price also saw a hike of INR 5,000 per tonne from INR 248,850 per tonne to INR 253,850 per tonne as of December 18.
Indian scientists have succeeded in developing an environment-friendly process for enhancing the anti-corrosive feature of high-strength aerospace aluminium alloys. The aerospace, automobile and marine sector globally utilizes aluminium alloys as applications precisely for its strength-to-weight ratio (low density and high specific strength), while among varied aluminium alloys, heat treatable wrought alloy compositions possess high mechanical strength and are customarily preferred by the aerospace industry.
Commonwealth Rolled Products Inc. will invest more than $167 million in its Lewisport aluminium rolling factory, says Kentucky Governor Andy Beshear. The 2.3 million-square-foot facility, which is now owned by New York-based American Industrial Partners (AIP), contains a large cast house and melt shop. According to the governor's office, the Commonwealth investment will include new equipment and facility modifications to modernise the business and better position the Commonwealth to service automotive and industrial clients.
To know more: https://www.alcircle.com/news/lewisport-aluminium-rolling-mill-to-receive-us167-million-investment-from-commonwealth-inc-74192
The Aluminium Stewardship Initiative has reportedly announced the joining of Speira as ASI’s new Production and Transformation member, bringing the total number of members to 208. Speira is a global aluminium rolling and recycling company, which stands for the circularity of metal production, usage, and recycling again and again. Its operations are built on over a century of aluminium rolling and recycling experience and technical expertise for aluminium products.
On 20th December 2021, the Canadian global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries, Exco Technologies Limited, publicized that it has inked a definitive agreement to acquire the extrusion dies business of Halex Holdings GmbH (“Halex ® Extrusion Dies”). However, the transaction is expected to conclude in the spring of 2022.
To know more: https://www.alcircle.com/news/exco-technologies-to-acquire-extrusion-dies-business-of-halex-holdings-gmbh-74180
The largest aluminium producer of India, Vedanta’s Aluminium Business has rolled out high-speed billets for the global extrusion industry through a virtual event with associates from the downstream and extrusion industry. The commodity tycoon Anil Agarwal chaired company’s global experts on billet extrusion also shared a heap of initiatives as part of its Customer Technical Service cell for unparalleled customer experience.
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