Downstream products weekly recap: Speira picks Wipro as technology partner; Gränges sustainability progress attained competent breakthrough in 2021

Compared to the last week, this week the downstream sector of the aluminium industry witnessed much low incidental happenings. From the market point of view, there had been repeated decline in price. From aluminium billet to Hindalco price, the prices recorded had witnessed a significant drop, the main reason being the rise in demand, shortage of coal supply in India and many more.

Wipro, a prominent worldwide corporation known for its information technology and cybersecurity solutions, announced that Speira, a major global manufacturer of sophisticated rolled aluminium products with an annual production of almost one million tonnes, has chosen Wipro as their technology partner. Apart from this, Gränges, an aluminium technology business that had been leading the development of lighter, smarter, and more sustainable aluminium products and solutions since 2021, had worked hard to achieve outstanding results in meeting the challenging 2025 sustainability goals.

The aluminium technology company, Gränges which has been driving the development of lighter, smarter, and more sustainable aluminium products and solutions in 2021 has pursued to convey remarkable performance towards the demanding 2025 sustainability targets. However, due to more robust performance delivery than anticipated, some of the sustainability targets were also remodelled during the year.

To know more: https://www.alcircle.com/news/granges-sustainability-progress-attained-competent-breakthrough-in-2021-77865

AMAG, one of the biggest manufacturers and processors of aluminium in Austria, had been associated with aerospace component manufacturing through acquisition for 1.5 years. AMAG components, which has locations in Übersee am Chiemsee and Karlsruhe, was recently bought in its entirety and is a proven specialist in the mechanical processing of aluminium and titanium components. AMAG components have been working on titanium structural components for the aerospace sector using additive manufacturing since 2018/19, from research to demonstration pieces.

To know more: https://www.alcircle.com/news/amag-using-additive-manufacturing-for-the-aerospace-industry-since-2018-77848

On Thursday, March 17, China’s aluminium billet inventory has nosedived by 18,400 tonnes or 8.84% week-on-week, as the stockpile of aluminium billets continued to fall due to on-demand downstream purchase. As a result, the inventory has been registered at 190,000 tonnes. Due to fewer arrivals, inventory in Foshan had declined rapidly in the last week. Looking ahead to the next week the market will keep a careful eye on the logistics that may have been or will be impacted by the pandemic control, which might impede the drop in aluminium billet inventories.

To know more: https://www.alcircle.com/news/chinas-billet-inventories-plummet-by-8-84-w-o-w-to-190-000t-due-to-on-demand-downstream-buyers-77858

In response to the sharp fall in LME aluminium benchmark price by US$181.50 per tonne on March 15, Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from March 16. Hindalco’s aluminium wire rod price has experienced a cut of INR 15,500 per tonne or 5.03 per cent to INR 292,850 per tonne. On March 15, the price stood at INR 308,350 per tonne, seeing a decline of INR 5,250 per tonne.

To know more: https://www.alcircle.com/news/hindalcos-aluminium-wire-rod-billets-prices-decline-by-inr15500-t-in-response-to-bearish-lme-price-77853

Shares of Chinese aluminium profile manufacturer - Hoshion Industrial Aluminium soared on the occasion of bagging four new clients with a business prospect of CNY 4 billion (US$628.8 million). On Tuesday, March 15, Hoshion declared that it could earn CNY3.6 billion to CNY4 billion in the subsequent four to eight years, being eligible to sell battery storage products to four carmakers. Hoshion’s equity price surged by the daily limit of 10 per cent to CNY33.46 (US$5.30), but still down by more than a quarter this year.

To know more: https://www.alcircle.com/news/shares-of-hoshion-industrial-aluminium-rise-on-the-occasion-of-bagging-new-business-worth-cny4-billion-77849

Hindalco Industries Limited continued to reduce its aluminium products and aluminium ingot prices, with effect from Saturday, March 12, in response to LME aluminium price fall by US$63 per tonne on Friday, March 11. Hindalco cut its aluminium wire rod price by INR 4,000 per tonne to bring it to 313,600 per tonne versus INR 317,600 per tonne on March 11. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which closed lower at US$3,472 per tonne on March 11 after two back-to-back rises from US$3,500.50 per tonne to US$3,535 per tonne. 

To know more: https://www.alcircle.com/news/hindalcos-aluminium-wire-rod-price-declines-by-inr4000-t-on-march-12-in-response-to-lme-price-fall-77832

The leading global company Wipro, recognized for its information technology and cybersecurity solutions declared that Speira, a leading global manufacturer of advanced rolled aluminium products, producing approximately one million tonnes per year has selected Wipro as their technology associate. In 2021, Speira was formed when Norsk Hydro Group set foot in an agreement to sell its rolling business to the American investment company, KPS Capital Partners.

To know more: https://www.alcircle.com/news/aluminium-rolling-and-recycling-firm-speira-picks-wipro-as-technology-partner-7783