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,...
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Nanjing Chervon Auto Precision Technology Co., Ltd joined Aluminium Stewardship Initiative as its new Industrial User member. Chervon's primary business activities include developing, manufacturing, and selling essential automotive components. A product system focusing on vehicle heat exchange parts, transmission parts, engine parts, and new energy auto components has steadily developed. The business has recently achieved strides in lightweight, electric, and smart cars. The company has developed new system components of motor housings, steering system components, electronic brakes and parking components, etc., with innovative technologies like aluminium alloy welding, lost core casting, precision ring gear manufacturing technology, etc., which will provide a broader space for the...
Vedanta Limited has continued to cut its aluminium products and aluminium ingot prices, with effect from Thursday, September 1, for the second day in a row. The company has cut its aluminium wire rod price by INR 3,250 per tonne to sell the product at INR 225,750-233,250 per tonne. On September 31, Vedanta’s aluminium wire rod price stood at INR 229000-236500, significantly down by INR 8,250 per tonne from the previous day. Vedanta’s aluminium billet price has also experienced a trim of INR 3,250 per tonne to INR 227,250 per tonne on September 1, after facing a hit of INR 8,250 per tonne to INR 230,500 per tonne on August 31. Aluminium ingot price has slid to the range of INR 218,250- 247,750 per tonne on September 1 from 221500-251000 on August 31. Vedanta links its aluminium ingot and...
Alcoa’s old smelting unit, situated at Portoscuso, Italy, is to be rejuvenated by the efforts of Sider Alloy Italia with a considerable amount of investment. The company’s agreement with Sistem Teknik, a leading maker of industrial furnaces for more than four decades, has resulted in the delivery of a homogenising furnace to be installed in the plant. The worldwide aluminium industry is gradually expanding, and these continuous lines can be of better use than the conventional method in the current market. Since there is complete utilisation of the process, cycle-time and energy consumption rate would also be lesser than the batch-type melting of the metal. The homogenising furnace creates a perfect thermal balance as each billet in a continuous homogenising line can endure equal cooling...
According to China Customs data, the country exported 93,300 tonnes of aluminium extrusion (HS codes 76041010, 76041090, 76042100, 76042910, 76042990) in July 2022. That was 10,600 tonnes or 12.8 per cent more than the previous month and 14.3 per cent higher than a year ago. Guangdong continued as the highest exporting province, accounting for 47.4 per cent of the total volume, followed by Shandong and Fujian. While the former exported 16.7 per cent of the total volume, the latter supplied 6.7 per cent. China Customs data also showed that Jiangxi, a southeast Chinese province, registered a monthly surge of 415 per cent in aluminium extrusion exports, driven by backlog orders and long statistical cycle. The above data indicates that despite the changes in export volume, the geographical...
Vedanta Limited continued to expand its aluminium products and aluminium ingot prices on Saturday, August 27. The company hiked its aluminium wire rod price by INR 4,750 per tonne or 2 per cent to INR 237,250- 244,750 per tonne. On August 26, the price stood at INR 232,500- 240,000 per tonne, seeing an increase of INR 2,000 per tonne on the previous day. Vedanta’s aluminium billet price also experienced a rise of INR 4,750 per tonne to INR 238,750 per tonne as of August 27 versus INR 234,000 per tonne on August 26. Aluminium ingot price is ranging between INR 229,750-259,250 per tonne, with effect from August 27, being grown by INR 4,750 per tonne from INR 225,000- 254,500 per tonne on August 26. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of...
As per the report published recently, Swiss National Bank raised its share in Kaiser Aluminum Company, an American value-added aluminium producer, by 7.4 per cent during the first quarter of 2022. The institutional investor bought an additional 2,600 shares of Kaiser’s stocks, totalling 37,500 shares worth $3,531,000. Several other large investors also enhanced their shares holdings in Kaiser. For instance, Maryland State Retirement & Pension System boosted its position in shares by 2 per cent by buying an additional 127 shares. Thus, its total shares amounted to 6,416, valued at $604,000. Teacher Retirement System of Texas raised its stake by 6.4 per cent in Q1 by acquiring an additional 196 shares, which brought its total shares in Kaiser to 3,241, worth $305,000. Point72 Hong Kong...
On Thursday, August 25, Australian Aluminium Council announced the joining of Alspec Aluminium Systems as its new council member. Alspec is a significant player in Australia's downstream aluminium market, offering a wide selection of aluminium systems and products to architects, specifiers, fabricators, builders, and renovators for use in commercial, residential, home improvement, and industrial applications. “We’re looking forward to working closely with The Council and its members to ensure the sustainable production of bauxite, alumina and aluminium and downstream industries. ALSPEC is committed to zero carbon emissions by 2050 and building a smarter, more sustainable future for Australia,” said Paul Nakhele, ALSPEC Managing Director. Alspec is a wholly Australian-owned business with...
On Friday, August 26, Aluminium Stewardship Initiative (ASI) announced that Iberfoil Aragón SLU's rolling and laminating facilities in Sabiánigo, Spain, were accredited with the ASI Performance Standard V2 (2017) Certification. Laminated foil and coil are the two commercial divisions of the company. The capacity of the company's foil and coil manufacturing activities is 20,000 tonnes per year and 40,000 tonnes per year, respectively. The goods are intended for usage in various downstream industries, including packaging for pharmaceutical, food, and beverage items, signs, HVAC systems for buildings, and automobiles. The Iberfoil Aragón operation was the subject of an impartial, third-party audit by DNV Business Assurance Services UK Ltd. “We are very proud to be part of ASI, a global...
Downstream products merge to form various end-user utility items or structures, maintaining a steady rush in the sector. Nissan announced the closure of its Wearside cylinder head-making plant, which will disrupt employee statuses around the company, directly affecting 250 jobs. From 2024, the production line of cylinder heads made of cast iron or cast aluminium will be discontinued at the Sunderland facility due to the lapse of an agreement with the French car maker Renault. The forging industry in Tamil Nadu, India's most industrialised state, had been struggling as the cost of raw materials like aluminium, steel, and fuel rose. Despite a rise in demand, the industry still has to contend with higher prices and a lack of raw materials. China's total amount of aluminium billet stockpiles...
On Thursday, August 25, China’s aluminium billet inventories increased by 3,900 tonnes W-o-W across four major consumption areas to settle at 120,200 tonnes. Except in Foshan, where the inventory dropped after the period of centralised shipments ended. Overall, the power restriction in Sichuan province, where the billet factors have been shut down, impacted the supply of aluminium liquid. With an eye on the development of power restrictions in other locations, it is anticipated that the supply of aluminium billet would decrease. The figure below provides further information on the current state of aluminium billet inventories in China: As per the data, the inventory in Huzhou ascended by 2,000 tonnes or 11.76 per cent, to rest at 19,000 tonnes from 17,000 tonnes recorded a week ago. The...
Nissan has announced the closure of its Wearside cylinder head-making plant, which will disrupt employee statuses around the company, directly affecting 250 jobs. From the year 2024, the production line of cylinder heads that are either made of cast iron or cast aluminium will be discontinued at the Sunderland facility due to the lapse of an agreement with the French car maker Renault. On August 23, a spokesperson from Nissan commented: "We do not expect this to result in job losses and are working with staff as we redeploy them to other parts of the business." Nissan, the Japanese innovator, has promised its derailed workers jobs at other outlets of the company. Cylinder heads are usually comprised of cast iron or cast aluminium materials and function as the motherboard of the engine,...
The United States imports of aluminium can body sheet hit the highest since at least 1998 in the second quarter of 2022 ended June 30, driven by a strong demand for beverage cans and increased mill investments in Asia targeting North American consumers. As per the data released by the US Department of Commerce, the imports in Q2 2022 saw a surge of 26,900 tonnes or 46.7 per cent Y-o-Y from 57,600 tonnes to 84,500 tonnes, bolstered by higher shipments from Thailand and South Korea, homes to large rolling mills operated by UACJ and Novelis, respectively. South Korea provided 30,600 tonnes of aluminium can body sheet to the US in the second quarter, threefold higher than 8,600 tonnes during the same period last year. Thailand was the second highest exporter, raising shipments by 48 per cent...
OpenGate Capital, a private equity firm based in Los Angeles, California, masters in the art of complete acquisition projects and recently has signed an agreement with the founder of Extol for its ownership. The mother brand of Extol, Spanish firm MCH and Fernando Busto will give in to forming a European union focusing mainly on the aluminium extrusion sector. Another company to be merged with this cluster is Aluminium France Extrusion, an international trade and development company from Saint-Florentin, Burgundy, France. The conglomeration will be further known as Aluminium Solutions Group (ASG), and the acquisition will be accomplished by the end of this year. However, the financial terms are yet to be published. The Aluminium Solutions Group will employ more than 800 professionals and...
The forging industry in India's largest industrialized state, Tamil Nadu, is encountering a challenging phase as the cost of production materials like aluminium and steel and fuel has soared. Despite a revival in demand, the industry faces higher expenses and difficulty obtaining raw materials. Rajavelu Manickavasagam, the Managing Director of Innoforge Pvt. Ltd., said, “We are forced to buy through third-party traders, and even then, we don’t get materials on time. Industries cannot completely pass on the price rise, so industrial units must absorb some of it and cut expenses.” According to our report from the forging industry, the price of mild steel leapt from INR 40/kg to about INR 65/kg in a year, while stainless steel prices surged from INR 250 to INR 350 and aluminium from INR 250...
Hindalco Industries Limited has continued to reduce its aluminium products and aluminium ingot prices, in tandem with an uninterrupted downfall in the LME aluminium benchmark price for three days in a row. With effect from Saturday, August 20, Hindalco’s aluminium wire price has been decreased by INR 2,500 per tonne or 1.07 per cent to INR 232,100 per tonne versus INR 234,600 per tonne on August 18. Hindalco’s aluminium billets price has witnessed a cut of INR 2,500 per tonne from INR 237,600 per tonne on August 18 to INR 235,100 per tonne on August 20. With the last cut, Hindalco’s aluminium ingot price has come in at INR 221,000 per tonne against INR 223,500 per tonne on August 18. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of...
Many internationally acknowledged brands like skincare provider BWX, Nissan Casting Australia, and 3D manufacturer Spee3D are transferring their operations to Dandenong, a suburb in Victoria, Australia. Dandenong is situated at a distance of 35 km toward the south-eastern zone of Melbourne’s CBD and is gradually emerging as a hub for smooth production with a wide open array for investments and well-trained professionals. Nissan Casting Australia, as the name suggests, produces automotive components and has invested US$15.5 million to upgrade the Dandenong South facility that yields die-cast components utilised in Nissan’s electric vehicles circulated globally. The Victorian Government has opened its arms to support industrial development, and high-tech manufacturers have already generated...
This week the global aluminium downstream sector witnessed limited but significant events. To begin with, Mahindra Group announced the launch of its flagship Scorpio Classic featuring an all-aluminium engine block. With this, it can be highly touted that aluminium is definitely the metal of the future. Apart from this, Bharat Forge, an international maker of auto parts based in India, announced a consolidated net profit of INR 160.37 crore ($20.12 million) for Q1 FY23 on August 11, 2022. On the other hand, Hydro’s aluminium extrusion facility in Spanish Fork, Utah, became the first place in the country to run entirely on renewable energy. The City of Spanish Fork and the Utah Municipal Power Agency agreed on a long-term deal of eight years in July with the aluminium extrusion business to...
Vedanta Limited again reduced its aluminium products and aluminium ingot prices on August 18 after an intermittent raise on August 17. Vedanta cut its aluminium wire rod price by INR 3,000 per tonne or 1.29 per cent to INR 229,000-236,500 per tonne as of August 18 versus INR 232,000-239,500 per tonne on August 17. Aluminium billet price also saw a cut of INR 3,000 per tonne on Thursday, August 18, from INR 233,500 per tonne to INR 230,500 per tonne. With the last cut, Vedanta’s aluminium ingot price is hovering around INR 221,500-251,000 per tonne, compared to INR 224,500-254,000 per tonne on August 17. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which slipped by US$28 per tonne on August 17 from...
