ABB has secured two orders from China’s Southwest Aluminum to supply integrated automation and digital technologies for two six-high aluminium cold rolling mills, supporting the manufacturer’s wide-strip production expansion and upgrade. The projects involve a 2,500 mm two-stand mill and a 3,000 mm single-stand mill, with both lines expected to be fully commissioned and operational by the end of 2027. Chongqing-based Southwest Aluminum is a subsidiary of the Aluminum Corporation of China (Chinalco). The orders build on the longstanding cooperation between ABB and the aluminium producer, with the latest projects focusing on process stability, control precision and production performance. Explore insights and forecasts for the aluminium flat rolled products (FRP) market from our...
India-based PG Foils Limited plans to establish a downstream aluminium manufacturing facility in Bahrain, focusing on electric vehicle (EV) battery foil and pharmaceutical foil production. The proposed investment is expected to expand the kingdom’s aluminium downstream capabilities and strengthen its manufacturing base. Bahrain’s Ministry of Industry and Commerce signed a letter of intent with PG Foils for the project. The agreement was signed by Industry and Commerce Minister Abdullah bin Adel Fakhro and PG Foils Joint Managing Director Sahil Shah during the fourth edition of the Gateway Gulf expo, which opened on November 1 in Manama. Explore: The most comprehensive and forward-looking industry-focused report – Aluminum Foil Market Report Forecast Till 2035 Hosted by the Bahrain...
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On Thursday, August 16, Turkish Trade Minister declared that Turkey would challenge the recent Washington’s decision of imposing higher metal tariffs on imports at the World Trade Organisation (WTO). Turkey would not be the first country to file a WTO complaint against the US trade practices. Others, like Canada, China, the European Union, and Russia had challenged the import tariffs at the WTO earlier. As reported by the Anadolu news agency, "Turkey has invited the United States to come in front of a panel of arbitrators at the World Trade Organization. The United States has already received this invitation. Therefore, we have launched a dispute settlement process within the framework of the WTO." Turkey has been in conflict with the United States since March when the Trump...
When Norsk Hydro acquired the remaining 50% share of Sapa from Orkla Group in October 2017 to form Hydro Extruded Solutions, they calculated the unprecedented growth the aluminium extrusion sector is expected to register in the coming years. A number of leading producers have been taking up Greenfield and Brownfield projects in the extrusion sector and merger and acquisitions are getting frequent for business growth. The top extruders like Hydro Extruded Solutions (Sapa), China Zhongwang Holdings Limited, Press Metal Berhad, Guangya Aluminum and Gulf Extrusion are expanding business and applications and constantly exploring new markets to leverage the growth. Currently, global aluminium extrusions capacity stands at about 41.5 million tonnes per annum. As for the usage is concerned, world...
Press Metal Aluminium Holdings Bhd, the largest aluminium smelter in South East Asia reported 7% increase in earnings in Q2 2018 on higher selling price for aluminium and aluminium products. The company, in its statement Wednesday said that its Q2 performance was also buoyed by a stronger US dollar. The group completed the acquisition of Leader Universal Aluminium Sdn Bhd (LUA), the largest aluminium and alloy rod producer in Malaysia in March, wherein its revenue was consolidated into the group in Q2 2018. These positive fundamentals were partially offset by increased raw material prices caused by alumina supply disruptions from Brazil. Q2 net profit at Press Metal climbed to RM160.6mil compared with RM150.2mil in Q2 2017. Revenue also increased by almost a quarter to RM2.4bil from RM1.9...
Turkey seems not to spare the Trump administration by any means for imposing higher tariffs on its aluminium and steel exports and declaring unfair sanctions against Ankara. On Wednesday, August 14, the country thus, reportedly issued a chilling warning to levy higher tariffs on certain American goods as a tit-for-tat action. As soon as the United States had sanctioned Ankara early this month, Turkish Foreign Minister Mevut Cavusoglu came up with his response saying that the country would not be left without retaliation as it constitutes a hostile stance. On August 14, Turkish Vice President Fuat Oktay said that the rises were ordered "within the framework of reciprocity in retaliation for the conscious attacks on our economy by the US administration." This retaliatory act is because of...
Alumex Plc, a fully integrated manufacturer of aluminium profiles in Sri Lanka, is reportedly eyeing exports and planning to compete strongly in a domestic market with import tax protection so that the customers become free from paying higher prices for finished goods. With the opening of a two billion rupee extrusion plant with the most modern technology and an output of 1,200 tonnes a month, Alumex is striving to reduce prices and meet global competition. Setting the price of UAE aluminium as a benchmark, Managing Director Pramuk Dediwela of Alumex said, “We’re trying to match the prices of the United Arab Emirates.” He further said, “If we can match those prices, we don’t have to worry about imports coming from any part of the world." The addition of Alumex’s new plant has expanded the...
The FBI was on scene Tuesday at the Nanshan America Advanced Aluminum Technologies plant in Lafayette, according to assistant human resources manager Nicki Huerta. Multiple employees from the finance department said Tuesday morning they had been released for the day. Huerta said she isn't sure why the FBI is there, but the production line is still working. Nanshan America is a 600,000-square-foot facility on U.S. 52 in the southern portion of Tippecanoe County. It specializes in aluminum casting and extrusion, according to its website. FBI Supervisory Special Agent Craig Moringiello said the bureau was in the area doing law enforcement activity this morning. However, he would not say why agents were at the China-based aluminum extrusion manufacturing company. He said he could not add any...
Braidy Industries founder Craig Bouchard is of the view that smaller US firms, who are laying off stuff and curtailing production are trying to cover up their own management and operating faults with aluminium tariffs. Bouchard is one of the strong supporters of Trump administration’s 10 per cent tariff on aluminium imports. Many steel sector executives also reported profits rise as a result of a 25 per cent tariff on steel imports and praised Trump’s effort to support the metals industry. The top executive of a number of businesses, Bouchard disagrees with the Republican lawmakers, economists and others who argue the new duties will undermine a growing economy. He argues that the U.S. has been at a competitive disadvantage for years because of global tariffs on American goods and it’s...
Hayleys PLC, one of the leading diversified conglomerates in Sri Lanka opens a world class largest extrusion factory in the South Asian region in order to expand the production of aluminium extrusions. Hayleys invested over Rs. 2 billion to set up this modern state of the art factory of its subsidiary Alumex PLC, a fully integrated manufacturer of aluminium profiles in Sri Lanka since 1986. Mohan Pandithage, CEO, Hayleys PLC said that this expansion will upgrade its manufacturing infrastructure and technology while continuing the supply of its unique aluminium profile ranges. Addressing media in Colombo on Friday, he said that the demand for aluminium extrusions has surges significantly due to the quick growth of the country’s construction sector. The construction sector growth has helped...
German economy minister Peter Altmaier deeply condemned Trump’s decision to levy metal import tariffs, saying such measures destroyed jobs and the overall economic growth. He also criticised the Trump administration’s decision to declare sanctions against Iran and said Europe by no means should bow to the US pressure regarding Iran. Besides import tariffs for bitter tit-for-tat trade dispute, the United States’ sanctions on Tehran would also target the European companies doing business with Iran and thus, would open another battle front. “This trade war is slowing down and destroying economic growth – and it creates new uncertainties,” Altmaier told Bild am Sonntag newspaper, adding that consumers suffered the most because higher tariffs were driving up prices. Altmaier lauded the...
Operating rate across 50 Chinese aluminium extrusion manufacturers reportedly fell in July as temperature continued soaring and labour shortage and orders fall from the solar sector remained a matter of concern. According to the recent update from Shanghai Metals Market, the manufacturers in July operated at 59.5 per cent, 2.98 percentage points lower from June. The operation rate of construction extrusion fell 3.34 percentage points to stand at 60.4 per cent, while that of industrial extrusion hovered at 50.8 per cent. Operating rate across large-scale manufacturers came in at 65.3 per cent, while that of the mid-sized and small-sized ones were at 55.5 per cent and 26.8 per cent, respectively. The decline in operating rate across all the Chinese manufacturers irrespective of their...
On Friday, August 11, President Trump ordered doubling of U.S. tariffs on imported aluminium and steel from Turkey. The decision indicated the growing diplomatic spat with a NATO ally. In his Tweet, Trump justified increasing tariffs to 50 per cent on steel and 20 per cent on aluminium imported from Turkey by citing the decline in Turkish currency. "Our relations with Turkey are not good at this time!" Trump’s tweet said. The U.S. sanctioned Turkey's justice and interior ministers were to protest what the administration calls the "unfair and unjust detention" of an American pastor. While increased tariffs send a diplomatic signal, they are not likely to have a major economic effect in the U.S. According to the Peterson Institute for International Economics, Turkey supplied 4.2 per cent of...
On August 9, the state-run aluminium major National Aluminium Company (Nalco) laid a foundation stone to set up a new aluminium wire rod manufacturing facility at its existing plant at Angul. This 131-crore project will reportedly have an installed annual capacity of 40,000 tonnes per year (alloy grade) and 60,000 tonnes per year (EC grade). At the stone laying ceremony, CMD of Nalco Dr. Tapan Kumar Chand pointed out that the per capita aluminium consumption in India is likely to make a quantum jump in next 2 to 3 years. Backed on various initiatives by the Centre like smart cities, bullet trains, power to every household, energy efficient automobile, aluminium wagons and several others, the aluminium consumption in the country would further grow from the existing level of 3.2 million...
According to China Customs data, China's export of unwrought aluminium and aluminium semis in July rose 18% from a year ago to stand at 519,000 tonnes. The volume stood at 425,580 tonnes in July 2017. The export volume stood at 510,000 tonnes in June, which was the second largest export in Chinese trading history of aluminium, just below the record of 540,000 tonnes in December 2014. This has made July export the second highest till date. Even though the SHFE/LME aluminium price ratio rebounded, depreciating yuan still created robust export margins which boosted export to a significant number. Total exports for the first seven months of this year grew 12.3% on the year and registered at 3.23 million tonnes. The data indicates that despite the US tariffs on steel and aluminium, china...
After five consecutive weeks of increase, aluminium billet inventories have sighted a slight plunge in China on Thursday August 9, backed on limited arrivals from producers, Shanghai Metals Market found. From last Thursday, August 2, the inventories of 6063 aluminium billet have dropped 2,400 tonnes to hover at 82,800 tonnes, as of August 9, SMM data showed. To know more about the status of aluminium billet inventories across all the major Chinese markets, you may refer the chart below. On the face of tight availability of aluminium billet due to thin supplies to the inventories, the spot market price of the secondary aluminium could not restrain but registered a significant hike by RMB 100 per tonne. As of today, August 9, the price of aluminium alloys (ADC12) stands at RMB 15650 per...
AlCircle recently launched a new Sector Focus Report – “The World of Aluminium Extrusions - an industry analysis with forecasts to 2025” into its 2018 Report portfolio. There is a big market for research and analysis and it is growing manifold every day. AlCircle has been into the business of information for pretty long and has already become the reference point for the industry as far as news, analysis, blogs and events are concerned. The portal now offers exclusive sector specific reports that are designed to help industry participants with accurate information and in better decision making. Aluminium extrusion sector is one of the fastest growing aluminium product segments across the world. Currently, global aluminium extrusions capacity stands at about 41.5 million tonnes per annum....
Novelis Inc., the world leader in aluminium rolling and recycling, today reported net income of US$137 million for Q1 FY 2019, compared to US$101 million in Q1 FY 2018. Excluding tax-affected special items, the company reported net income of US$113 million in Q1 FY2019, up from US$103 million in the same period of FY 2018. The increase in net income, excluding special items, is mainly due to a 15 per cent increase in Adjusted EBITDA to US$332 million in Q1 FY 2019. This gain is attributed to the investments made by the company in order to increase global rolling, automotive finishing, and recycling capacity so that they can drive higher shipments, strengthen its product portfolio, and manage costs. Net sales increased 16 per cent over the prior year to US$3.1 billion for Q1 FY2019, driven...
In Q2, the company reported a net loss of $47 million compared to net loss of $2 million in Q2 2017. The loss is attributed to a debt adjustment of US$49 million associated with the Company's debt refinancing. Record adjusted EBITDA increased to $85 million from US$66 million in Q2 2017. Strong demand, improved operating performance and a favourable metal environment in North America drove the positive results. Results are also positively affected by higher global automotive volumes, improved rolling margins and improved operating performance in Europe as well as commercial shipments from new North America automotive assets. Favorable North America metal spreads, resulting from increased aluminium prices, improved scrap availability and strategic metal purchasing also drove the results....
Mid-States Aluminium Corp., one of the leading suppliers of aluminium extrusions, has reportedly started breaking grounds and taking necessary steps towards expansion and installation of a new press line at its extrusion and fabrication facility. This new facility involves around US$ 23 million of investment in the local area, which will be used in buying “state-of-the-art extrusion press line and automation equipment,” according to a press release from the company. This will allow the company to upgrade its facility while maintaining its competitive advantage in the market for aluminium extrusions and value-added competition. Located at 132 Trowbridge Drive, the facility currently provides services in aluminium extrusion, as well as machining, fabrication, anodizing, tooling and assembly...
