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THINK ALUMINIUM THINK AL CIRCLE
The downstream segment of the aluminium industry derives its major raw material from the primary sector and is considered the most vital part of the industry. The week witnessed some notable events of acquisition and investment for developments in the downstream segment. The Russian aluminium giant Rusal stated that it has already completed a comprehensive programme of overhauls and modernisation of production at the SKAD plant. Austria’s AMAG accomplishes the acquisition of German firm Aircraft Philipp. However, with this acquisition, it will be the sole owner from the turn of the year. Following the accomplishment of the takeover, the name of the company will also change to AMAG components.
On 10th December 2021, the board of auto components maker Minda Industries at its meeting has approved Capex of INR 74 crore for the Minda Kosei Aluminium Wheel plant in Gujarat. The auto wheel manufacturer Minda Kosei has proposed expansion of its Gujarat plant production capacity from 90,000 to 120,000 wheels per month.
The Manchester-based asset-based lender, Praetura Commercial Finance has sanctioned an £11.4 million funding package to Evtec Aluminium for the acquisition of Liberty Aluminium Technologies. Praetura Commercial Finance arranged and provided the £11.4 million asset-based lending (ABL) facility entitled the chairman of Evtec Aluminium, David Roberts to acquire plants in Coventry and Kidderminster that produce aluminium castings.
Nu-Tech Precision Metals Inc. ("Nu-Tech"), a specialised maker of speciality extruded metals, fabricated parts, and welded components, has been bought by Reliance Steel & Aluminum Co. Reliance Steel & Aluminum Co., founded in 1939 and located in Los Angeles, California, is a major global diversified metal solutions supplier and North America's biggest metals service centre firm. Reliance's average order size in 2020 was $1,910, with around 49% of transactions containing value-added processing and 40% of orders being delivered within 24 hours.
The chairman of Aluworks PLC, Prof Lade Wosornu stated that the Ghana Revenue Authority’s custom division has stirred to impose an additional duty of 35.77% on cheap aluminium products imported from China, that will empower Aluworks, the aluminium continuous casting and cold rolling mill of Ghana to compete favourably in terms of the pricing of its products.
To know more: https://www.alcircle.com/news/ghana-revenue-authority-to-impose-35-77-duty-on-cheap-aluminium-products-from-china-74152
The United States made an offer to Japan to address the disagreements over tariffs imposed on Japanese steel and aluminium in 2018 under former President Donald Trump, stating the people familiar with the situation. According to the anonymous sources, the proposal for the same has been submitted by the Commerce Department and office of the US Trade Representatives to the new government officials under Prime Minister Fumio Kishida.
Rusal, the world’s leading aluminium producer has announced the investment of more than 870 million rubles (US$12 million) in repairing and modernising its plant SKAD for the production of aluminium alloy car wheels. SKAD is Russia’s largest enterprise of producing cast aluminium alloy car disks, founded in 2002.
The Aluminium Stewardship Initiative has reportedly certified Alvance Aluminium Dunkerque against the Chain of Custody certification for the production of aluminium rolling slabs and foundry ingots for remelting. The aluminium slabs and ingots produced at the Dunkerque facility are destined for the use in transport, automotive, packaging, building and construction industries. The site has a production capacity of over 284,000 tonnes of aluminium products per annum.
The Aluminium Stewardship Initiative has certified Ulsan Aluminum against the Performance Standard Certification for casting, hot/cold rolling, and finishing operations in its South Korea plant. The news came after the ASI announced that it successfully certified Ulsan Aluminum Limited on Friday, December 10.
The leading Austrian premium supplier of high-quality cast and rolled aluminium products used in a wide range of industries, AMAG Austria Metall AG is now grabbing the remaining 30% of the German firm Aircraft Philipp (ACP), based in Übersee am Chiemsee following the initial stakeholding in October 2021. However, with this acquisition, it will be the sole owner from the turn of the year. Following the accomplishment of the takeover, the name of the company will also change to AMAG components.
To know more: https://www.alcircle.com/news/austrias-amag-accomplishes-acquisition-of-german-firm-aircraft-philipp-74141
On 17th December 2021, the leading player in the extrusions industry in India, Hindalco Industries Limited inked a definitive agreement to acquire global aluminium giant Hydro’s aluminium extrusions business in India for INR 247 crore. Norway headquartered Hydro’s Kuppam plant in Andhra Pradesh, India has a production capacity of 15,000-tonne of aluminium extrusions and is integrated with advanced value-added capabilities for surface finishing and fabrication.
After the two consecutive days of decline, Hindalco Industries’ aluminium products and its aluminium ingot prices have seen a hike with effect from Friday, December 17. The company’s aluminium billets price has witnessed an increase of INR 3,250 per tonne to INR 248,850 per tonne. On the previous two days, the price was cut back-to-back by INR 2,750 per tonne.
According to the Shanghai Metals Market, aluminium billet inventories in China dropped by 10,000 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled 75,500 tonnes as of Thursday, December 16. Except for Huzhou, where inventory remained unchanged from the previous week, all four markets witnessed local social inventory fall to varying degrees.
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