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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The family-owned company focused on aluminium and other nonferrous materials, Metal Exchange Corporation has elevated Matt Rohm has been promoted to the position of President and Chief Operating Officer of the enterprise, reporting to Rick Merluzzi, Chief Executive Officer of Metal Exchange Corporation. Rohm will oversee all divisions and operating companies within the Metal Exchange Group (Trading, Cast Products and Extruded Products) and all corporate services in his new role. However, before joining Metal Exchange as Chief Financial Officer in 2016, Rohm accrued over 20 years of financial leadership experience, having served in positions with The Boeing Company, Anheuser-Busch InBev, Energizer and SunEdison. Furthermore, Rohm holds a Bachelor of Science degree in industrial engineering...
Gerd Röders, managing director of G.A.Röders GmbH & Co KG, expertise in manufacturing aluminium die-castings from various alloys for high-quality parts, is unwillingly preparing for the temporary shutdown of foundry to survive Europe’s growing gas crunch. Röders hopes 24-hour shifts for three consecutive weeks, followed by a week shutdown, will enable the 200-year-old plant to maintain output while cutting gas bill, which has doubled since 2021 to 12.3 million euros. According to him, this plan will be a cost saving for them as it will lower the expense of gas needed to fire up the oven every morning, even if it means paying staff more to work night shifts. Survival for G.A.Röders GmbH and Germany’s 600 other foundries, most of which are small-to-medium enterprises with less than 250...
HVG Facades has officially anointed Décortech Limited, a New Zealand’s Big River Group subsidiary, as their trusted distributor of the premium aluminium cladding product, MondoClad. The partnership will strengthen HVG Facades’ position in the industrial sector of New Zealand, establishing the MondoClad range more actively in the market. Created by marine grade aluminium, MondoClad is the company’s flagship solid aluminium panel system certified by CodeMark. The aluminium solutions have extreme endurance to heat and are fairly non-combustible. It can be said that HVG Facades has designed the aluminium extrusions while keeping the safety of the users into consideration. MondoClad is a premium solid aluminium façade panel that might be utilised for educational, residential and commercial...
BlueScope Distribution, primarily recognized as a steel distributor, is growing its capabilities by offering a more comprehensive selection of products and services for processing aluminium. The company has been a leader in the steel and aluminium industry for a long time. A wide range of aluminium sheets, plates, coils, tread plates, and standard and customized extruded products is constantly growing through BlueScope Distribution. The firm is committed to innovation and continuously working to enhance its services and products for clients who buy aluminium or steel. It is not just a company which sells materials but is also known for providing its clients with services for processing aluminium. “Our expanded processing capabilities will ensure that we continue to provide our clients...
On Monday, August 8, Maan Aluminium, an aluminium extruded product manufacturing company, has reported a financial result for the second quarter of 2022 ended June 30, revealing year-on-year increase of 43.46 per cent in net sales to INR 173.16 crore versus INR 120.70 crore. On a quarter-on-quarter basis, net sales in June quarter grew by 34.23 per cent from INR 129 crore. Maan’s net profit in 2QFY23 stood at INR 8.40 crore, up by 61.54 per cent from INR 5.20 crore during the same period last year and 2.82 per cent more than INR 8.17 crore in 1QFY23. EBITDA during the second quarter of the year came in at INR 13.26 crore, reflecting a rise of 45.08 per cent from INR 9.14 crore in Q2 2021. However, earnings per share decreased to INR 6.21 in Q2 2022 from INR 7.69 in Q2 2021. Maan Aluminium...
According to analysts, US importable beverage can sheet will almost disappear due to the additional production of three major US aluminium rolling mills by the end of 2026. Even though demand for this packaging is expected to grow by then, the three mills will virtually eliminate importable beverage can sheets by that time. As per a report, there will be an increase in production of over 700 000 tonnes per year, which will 'more than meet current US requirements and should satisfy the expected growth in demand.' The American steel producer, Steel Dynamics, whose board of directors has already authorized to construct and operate a 650,000-metric-ton low-carbon, recycled aluminium flat-rolled mill, the stated 45% of its new south-eastern mill (650 000 tonnes per year) will focus on beverage...
Vedanta Limited raised its aluminium products and aluminium ingot price on Saturday, August 6, after three consecutive cuts since July 30. The company added INR 4,750 per tonne to its aluminium billet price to sell the product at INR 232,500 per tonne, with effect from August 6. On August 4, the price stood at INR 227,750 per tonne, seeing a cut of INR 3,250 per tonne from the previous day. On August 6, Vedanta’s aluminium wire rod price came in at INR 231,000- 238,500 per tonne, also up by INR 4,750 per tonne from INR 226,250- 233,750 on August 4. The company’s aluminium ingot price saw an expansion of INR 4,750 per tonne as well to close at INR 223,500- 253,000 per tonne. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
On Sunday, August 7, a fire broke out at Novelis Italia S.p.A., a metalworking business located in Pieve Emanuele (Milan). As per the reports, the fire was caused due to an accidental release of aluminium casting. The aluminium casting spill was taken care of by 10 fire brigades from Milan’s provincial command. Apart from this, 118 medical personnel, 4 ambulances and carabinieri from the San Donato Company were also at the site. Although the scenario inside the plant was continuously changing, no injuries have been reported. The nuclear, Biological, Chemical, and Radiological (NBCR) teams were also at the site to assess hazardous circumstances. This is not the first time a similar fire incident had happened at the Novelis Italia S.p.A. facility on August 8, 2021. The fire was also sparked...
The downstream sector of the aluminium industry is one of the most productive sectors, as its profiles move to the retail market for the manufacturers to build things for customers to use. This week the global aluminium downstream sector witnessed some prominent events. To begin with, Novelis released its first quarter financial results for the fiscal year 2023. A record $307 million in net income attributable to shareholders and $307 million in net income from continuing activities were reported by Novelis in its first quarter financial results for the fiscal year 2023. The use of aluminium and its products are on the rise. The European Aluminium association predicts a 30 per cent increase in aluminium consumption due to the EU's energy transition. Considering aluminium as the "basis...
On Thursday, August 4, China's aluminium billets inventory increased by 8,800 tonnes W-o-W to close at 116,400 tonnes, from 107,600 tonnes recorded last week. Since upstream output remained steady primarily, the supply doesn't appear to be decreasing. The stockpile of aluminium billets will most likely increase the following week. The figure below provides further information on the current state of aluminium billet inventories in China: The inventory in Foshan hiked by 13,400 tonnes to settle at 79,400 tonnes from 66,000 tonnes recorded last week. In Foshan, the inventory increased by 20.3 per cent from last Thursday due to concentrated Yunnan imports and weak downstream demand. For the same day in Wuxi, the inventory increased by 200 tonnes to close at 15,000 tonnes. In Changzhou, the...
According to the Shanghai Metals Market review, China produced 128,000 tonnes of lithium-battery aluminium foil (battery foil) in 2021, which accounted for nearly 2.8 per cent of the country’s total aluminium foil output and registered a year-on-year surge of 83 per cent. This prodduction hike could be attributed to the commissioning of new battery foil capacities at a fast pace last year. Currently, there are reportedly 15 battery foil projects under construction, which are estimated to come into operation between 2022 and 2025, with a total capacity of 592,000 tonnes. In addition, some existing gauge foil producers are contemplateing to convert their capacities into battery foil production. Battery foil has the largesr use in new energy vehicle power battery, followed by energy storage...
Hindalco Industries Limited back-to-back reduced its aluminium products and aluminium ingot prices, with effect from August 4, following a slash of INR 4,250 per tonne on August 3. On August 4, the company cut its aluminium wire rod price by INR 3,000 per tonne or 1.28 per cent to stand at INR 232,100 per tonne versus INR 235,100 per tonne on the previous day. Hindalco’s aluminium billets price also saw a trim of INR 3,000 per tonne on August 4 to come in at INR 235,100 per tonne, compared to INR 238,100 per tonne on August 3. Aluminium ingot price was no exception but saw a cut by the same amount from INR 224,000 per tonne to INR 221,000 per tonne as of August 4. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
LOTTE Aluminium, a Seoul-headquartered diverse aluminium products manufacturer, will reportedly build an aluminium foil producing plant in Hardin County, Kentucky. The project will involve an investment of $238.7 million and create 122 full-time jobs. The news came on Thursday, August 4, after Kentucky Governor Andy Beshear announced the new upcoming facility, adding that the aluminium foil to be produced there would be used for electric vehicle batteries. The facility will be located near the BlueOvalSK Battery Park in Hardin County, where Ford Motors and SK Innovation are investing $5.8 billion to set up electric vehicle battery manufacturing plants. “I want to welcome LOTTE to Kentucky as we continue to see significant investment from EV-related businesses across the state,” Beshear...
The South African company-based company specializing in rolled aluminium products, Hulamin, announced that its Chief Executive Officer, Richard Jacob, will retire at the end of September 2022. His career at the Pietermaritzburg-based company spans 32 years, and he has served as CEO for 12 of those years. While the company searches for a new CEO, non-executive director Geoff Watson has been appointed interim CEO. Over the course of his career, Watson has worked for Alcoa Kaal in Australia, Alcoa Bohai (China), Steelforce (Australia), Seema International (Hong Kong), and UC Rusal (Switzerland). A graduate of the University of Cape Town with an engineering degree, Jacob joined Hulamin in 1990 as an industrial engineer. He was promoted to various positions at Hulamin, including manager for...
Greek aluminium extrusion provider Etem Group and the Spanish automotive components supplier, Gestamp, signed a partnership deal, resulting in a joint venture called Etem Gestamp, that has now adhered to a ten years power purchase agreement (PPA) with a Bulgarian renewable energy investor, Growth for 4 GWh of solar energy annually, as was reported by consultant, Elnova on August 3. As early as March, Etem Gestamp had declared that it would invest more than a 120million levs or US$62.5 million to upgrade its facility in Sofia that makes components for cars. After the Paris Environmental Agreement signing in 2015, several concerned companies are shifting toward a more sustainable option to produce their individual products. While the aluminium industry is a power-intensive area, with...
On Wednesday, August 3, Novelis released the first quarter financial results for fiscal year 2023, reporting a 28 per cent year-on-year rise in net income attributable to shareholder to a record $307 million and a 1 per cent increase in net income from continuing operations to also at $307 million. But excluding special items in both years, net income from continuing operations in Q1FY23 registered an 18 per cent hike due primarily to higher underlying Adjusted EBITDA. Adjusted EBITDA grew 1 per cent to a record $561 million in Q1 ended June 30 versus $555 million during the same period last year. The increase was due to higher product pricing, favourable product mix, aerospace shipment, and improved recycling performance. The company's net sales stood at $5.1 billion in 1QFY23, gaining...
On August 2, SLM Solutions Group AG declared the latest acquisition of two SLM®500 additive manufacturing machines by Robert Bosch GmbH Nuremberg, the well-known German technology provider. These SLM®500s will substantially heighten Bosch's production of AlSi10Mg aluminium components with increased precision. The new installations will aid Bosch's powertrain technology by producing customized aluminium parts for hydrogen technology and electric drive production lines at their 3D-MPC Manufacturing and Processing Center in Nuremberg. The centre largely produces mechanical parts for prototype and serial applications with the help of additive manufacturing. The SLM®500s will help Bosch to increase the output of AlSi10Mg aluminium parts with more choices in shapes and sizes, ultimately...
European Aluminium, an industry association in Brussels, is reportedly preparing its member companies to take part in electric vehicles and alternative energy markets, considering aluminium the “base metal for the green transition”. Alternative energy and electric vehicle market contribute leading factors to the growth in the European aluminium market. The group projects that the Europe Union’s energy transition will boost aluminium demand by 4.5 million tonnes or 30 per cent from the current level. “The European aluminum industry offers one of the most fundamental materials for achieving climate and circularity goals and provides our continent with enhanced strategic autonomy thanks to a resilient European value chain,” states the organization in its July manifesto. The association is...
