50 billion in revenue and 20 billion in profit is what Vedanta Group is looking forward to over the next two years, said the Founder & Chairman, Mr Anil Agarwal, during an interactive session organised by the Indian Chamber of Commerce (ICC) at Taj Bengal, Kolkata on October 28, 2026. While he sees India as a powerhouse of metals and minerals, his attention is caught by West Bengal, located in the Eastern part of India. Mr Agarwal believes the future of Bengal looks bright, as the state has a strategic geographical location with major mining states like Jharkhand and Odisha as its neighbours. By directing high hopes for Bengal and praising the double engine government, Agarwal expressed his willingness to invest in the state in sectors like mining, minerals and power. He also met the...
Hydro has begun construction of a new 5,900 metric ton indirect aluminum extrusion press line at its Cressona facility in Pennsylvania, backed by a $53.5 million investment aimed at modernizing production, expanding specialist extrusion capacity, and strengthening the company’s North American manufacturing operations. The groundbreaking took place on October 27, with operations expected to commence in the first quarter of 2028. The new press will replace equipment dating from the 1950s and introduce Industry 4.0 technology, advanced automation, improved energy efficiency, and enhanced safety performance. New press targets growing demand for specialist extrusions The investment comes as demand for indirect aluminum extrusions continues to grow across commercial transportation, automotive,...
Grow with
AL Circle
On Wednesday, November 2, Gov. Tate Reeves and Mississippi Legislature finalized one of the greatest economic development projects of the region, which is expected to create 1,000 employment opportunities in Lowndes County. The Mississippi House and Senate have approved the tax incentives for the companies' expansion in the Golden Triangle. Apart from the state-of-the-art low-carbon, aluminium flat-rolled mill and a biocarbon production facility by Steel Dynamics, the $2.5 billion project will also include a recycled aluminium flat-rolled facility. This facility will supply the automotive, industrial, and industrial packaging sectors. The project is a part of Steel Dynamics' expansion of its Columbus, Mississippi, campus, which is situated on a Tennessee Valley Authority Mega Site. A...
Bangladesh Thai Aluminium Ltd. has recorded a 98 per cent falling net profit for the year ending on June 30, 2022, in contrast with the earnings of the previous year. This is mainly due to the augmented raw material and freight rates, alongside the degrading economic conditions of the region. One of the greatest manufacturers encouraging the aluminium industry in Bangladesh, Thai Aluminium marked a net profit of only Tk 2.56 million in the fiscal year 2021-22, whereas the year before, it had an enormous earning of Tk 160 million. Due to the above discrepancy, the company's earnings per share plummeted to Tk 0.02 compared to Tk 1.25 in the previous fiscal year. Because there was an enormous plunge in profits, the board of directors initiated no dividend estimation for the company's fiscal...
The United States aluminium plates, sheets and bars imports from Oman in July 2022 rebounded close to the volume in May 2022. After a month-on-month drop in June by 2,450 tonnes or 22.69 per cent to 8,350 tonnes, the United States aluminium flat rolled products imports grew by 1,950 tonnes to stand at 10,300 tonnes. In May 2022, the import volume stood at 10,800 tonnes, according to the US Census Bureau data. In the three-month period from May to July 2022, the total imports summed up at 29,450 tonnes, while the total imports in the first seven months of the year amounted to 66,500 tonnes. Going by each month of 2022, Oman has been a consistent supplier of aluminium plates, sheets and bars to the United States. In the first two months of the year, the export volume muted at 7,010 tonnes,...
Gränges Powder Metallurgy from Germany is a subsidiary of Sweden-based Gränges AB. It has successfully launched its second aluminium alloy, which has a growing demand in the Additive Manufacturing industry. S260 AM, the highly durable aluminium alloy, belongs to the company's Dispal® portfolio that can be differentiated by incredible tribology features and high-wear resistance. Silicon is essential in creating a mixture strong enough with Cu and Mg elements because of its fine matrix structure. The silicon has been evenly distributed along the aluminium alloy, which is beneficial for more accurate and long-lasting performances, with no requirement for additional coatings. Another primary feature of this material, in contrast with the other Dispal® materials, is a lesser tendency of...
Hindalco Industries Limited has lifted its aluminium products and aluminium ingot prices on Wednesday, November 2, after reducing them the previous day by INR 2,500 per tonne. Hindalco’s aluminium wire rod price has been elevated by INR 5,250 per tonne or 2.40 per cent to INR 224,350 per tonne versus INR 219,100 per tonne on November 1. The company’s aluminium billets price has also seen a hike of INR 5,250 per tonne, with effect from November 2, to peg at INR 227,350 per tonne. On November 1, the price stood at INR 222,100 per tonne, down by 1.11 per cent from 224,600 per tonne. Aluminium ingot price is no exception but undergone an increase of INR 5,250 per tonne on November 2 to stand at INR 213,250 per tonne, following a cut on the previous day from INR 210,500 per tonne to INR...
On Monday, October 31, Mississippi Gov. Tate Reeves announced that a special legislative session would be organised on Wednesday to discuss the much-awaited incentive plan for the $2.5 billion aluminium factory in Lowndes County. He stated that the project is anticipated to generate over 1,000 employment opportunities with an average yearly income of $93,000 and is considered one of Mississippi's most significant economic development pacts. Lowndes County is a county located in the south-central portion of the U.S. state of Georgia. The economic development agreement includes a flat-rolled aluminium production plant, biocarbon production facilities, and a few other industrial facilities. Projects to upgrade the infrastructure will also be included. The Golden Triangle Region will be home...
Alcomet, the Bulgarian manufacturer of aluminium rolled and extruded products, on October 31, declared that the company had yielded an incredible net profit of 34 million levs (US$17.3 million) in the primary nine months of 2022 alone. The profit is, by all means, higher than the 742,000 levs profit in the same period in the previous year. Alcomet claimed in an interim financial statement that the company's revenue has escalated to 589.4 million levs in January-September from the recorded 374.6 million levs in the first nine months of 2021. Operational expenses also hiked substantially, to 547.3 million levs from 370.9 million levs, due to the augmenting costs for hired services, personnel and raw materials. On the other hand, Alcomet's net sales decreased during 2022 by 10.34 per cent to...
Vedanta Limited’s aluminium products prices saw a cut on Saturday, October 29, soon after they increased by INR 2,000 per tonne on the previous day. As per the last updated price chart, Vedanta’s aluminium wire rod price is standing at INR 220,500-228,000 per tonne since October 29, down by INR 6,250 per tonne or 2.76 per cent from INR 226,750-234,250 per tonne on October 28. Vedanta’s aluminium billet price came in at INR 222,000 per tonne on October 29 after being slashed by INR 6,250 per tonnes from INR 228,250 per tonne on October 28. The company’s aluminium ingot price is ranging between INR 213,000-243,500 per tonne since October 29, compared to INR 219,250-249,750 per tonne on a day earlier. Vedanta reduced its aluminium prices on October 29 in response to the downfall of the...
This October 2022, the global aluminium value chain has seen some of its most exciting events ever. One of the world's leading manufacturers in the flat-rolled aluminium (FRP) industry, Assan Alüminyum announced its plans to invest $460 million in the American market by establishing a facility. The company's primary aim is to satisfy American businesses' demand that adheres to the 'Made in USA' standard. While reporting on the Russia-Ukraine geopolitical crisis and its impact on the aluminium industry, according to the people familiar with the deliberations, the US administration is considering the possibility of incorporating sanctions on the Russian aluminium giant as the White House looks to chastise Russia for escalating conflict with Ukraine. On the other side, Novelis initiated...
According to the Shanghai Metals Market, China’s aluminium extrusion imports from January to September 2022 stood at 26,000 tonnes, reflecting an increase of 12.4 per cent year-on-year. The trend suggests that the total import volume through 2022 will record growth after six consecutive years of year-on-year decline, thanks to increased imports from Taiwan this year. China’s exports of aluminium extrusion from January to September 2022 amounted to 707,000 tonnes, up by 2.57 per cent Y-o-Y. By the end of the year, a slight growth in total export volume of extrusion is expected after the implementation of anti-dumping policies by many countries over the past two years, which resulted in sharp declines in the previous year. Export volume is likely to increase this year as the energy crisis...
The second-largest industrial aluminium extrusion product developer and manufacturer in the world and the largest in Asia, China Zhongwang Holdings Limited prospered in the 2000s along China’s resonating property sector, which created robust demand for its products in construction. In the wake of the economic slowdown, its overexpansion and leveraged asset purchases led to the collapse of its business. The Shenyang court approved the bankruptcy application filed by Zhongwang's creditors in September 2022. In an official announcement, the company said it had received notice that its 252 affiliates and parent company would undergo consolidated restructuring due to its inability to pay its debts. As of the end of March, Zhongwang had liabilities of Rmb459.8bn ($64bn) at its affiliates but...
AMAG Austria Metall AG, the largest company in the Austrian Aluminium sector, has claimed an affirmative third quarter, with a Y-o-Y growth of 47 per cent, the first time in the company's history, generating an operational result (EBITDA) of almost EUR 200 million. The American producer of semi-fabricated speciality aluminium products, Kaiser Aluminum reports an annual marginal dip in net sales for 3Q2022 but grows in nine-month by 50% to $2.7 billion. AlCircle has recently published its exclusive industry report on the "Future of the Global Aluminium Castings Industry", which is now available on our website. Make your visit and find out more about the emerging sector. The report “ Future of the Global Aluminium Castings Industry - Market analysis and industry forecast to 2027 ” is now...
The Indian multinational mining and metal giant Vedanta’s Board has approved the growth expansion project of its subsidiary Bharat Aluminium Company (Balco) at its meeting held on October 28, 2022. A revised cost of $ 72 million (INR 595 crore) has been assessed for expanding Balco's rolled product capacity to 180 KTPA from its existing 50 KTPA. Upon completion of this project, Balco will be placed in the high-premium product segment. Balco is equipped to deliver high quality rolled products in segments with application in automobiles, insulations, bus bars, power projects, electrical, packaging etc. The expansion of Balco's capacity from 580 KTPA to 994 KTPA will be accomplished through an expansion project of 414 KTPA smelter with an improved VAP portfolio at a revised cost of around $...
On a journey to reach the Company’s Twentyby30 goals, Crown Holdings, Inc. is celebrating individual units in its network worldwide for showing extraordinary innovation and leadership in sustainability. Every year Chairman's Sustainability Awards is arranged to honor the crucial contributions offered by employees appointed in Crown’s manufacturing facilities or the operational divisions. Mostly the awards are in three categories – Social, Environmental, and Safety. The winners of the 2022 awards judging by the outcomes of 2021 are mentioned below: Crown’s Texas beverage can plant in Conroe was awarded the Social Sustainability title that represents the work done for the upliftment of the workforce or the regional community. The team showcased a rigid commitment to their locality by...
Swedish Company ProfilGruppen AB's Nomination Committee has selected Mats Johansson as the Board's new Chairman. The decision was finalised in the Extraordinary General Meeting held on October 31, 2022. ProfilGruppen is a Swedish manufacturer that develops, commercialises and produces aluminium extrusions and components. The company's headquarters is situated in Åseda, Småland, a historical province in Southern Sweden. The company was established in 1981 and now has around 450 employees. ProfilGruppen primarily operates within the Northern European Market and is an expert in supplying turnkey customised aluminium components and extrusions. The organisation dreams of becoming the leading provider of innovative aluminium extrusions and other solutions in Northern Europe. The new Chairman,...
Vedanta Limited hiked its aluminium wire rod and billet prices, effective from Thursday, October 27, following a slash of INR 6,000 per tonne on October 22. The company’s aluminium wire rod price witnessed a gain of INR 9,500 per tonne on October 27 to come in at INR 224,750-232,250 per tonne versus INR 215,250- 222,750 per tonne last week. Vedanta’s aluminium billet price has clocked in at INR 226,250 per tonne, up by INR 9,500 per tonne or 4.38 per cent from INR 216,750 per tonne on October 22. Aluminium ingot price has also been raised by INR 9,500 per tonne by Vedanta, with effect from October 27, to sell the item at INR 217,250-247,750 per tonne. Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which surged by US$110 per tonne...
Symetal and BOBST are breaking boundaries in the aluminium foil coating and rolling sector with the MASTER CO 5000 coating machine, which was installed during the first quarter of 2022 in the former's production facility in Mandra, Greece. The coater accomplishes Symetal's process quality expectations by augmenting the company's capacity from its existing weightage of 24,000 tonnes per annum. Aluminium foil is a tender material; therefore, its transformation calls for high-end and elaborate technologies. The coating equipment is technically customised, requiring a close collaboration between the equipment manufacturer and the converter. Symetal S.A. runs two ultra-modern production units in Greece; one in Oinofyta that manufactures aluminium foil rolls and the other in Mandra that masters...
AMAG Austria Metall AG, the biggest company in the Austrian Aluminium industry sector, announced a positive third quarter, with sales and profitability showing significant Y-o-Y growth. In the company's history, this was the first time an operational result (EBITDA) of over EUR 200 million was produced. In the first three quarters of 2022, AMAG group's revenue surged by 47 per cent to EUR 1,353.9 million, from EUR 923.8 million recorded between Q1 to Q3 in 2021. The main reason behind this increment can be credited to higher aluminium prices, price changes brought on by rising costs and product mix optimisation. Total sales were marginally higher than the same period in the previous year (Q1–Q3/2021: 337,800 tonnes), coming in at 341,500 tonnes. "Despite numerous challenges, we have...
