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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A recent report from ReportLinker has projected that the automotive aluminium market would grow at a CAGR of 8.8% from 2016 to 2026, in terms of value. Aluminium is slowly substituting steel as a preferred material for automotive manufacturers, due to a number of performance benefits like its excellent strength and weight ratio, environmental benefits, fuel efficiency, and durability. The high manufacturing cost of aluminium for the automotive industry in comparison to steel is one factor that can be a hurdle in the growth of the automotive aluminium market during the period. According to the report, the powertrain application segment of automotive aluminium took the largest share of the automotive aluminum market in 2016. This segment is projected to grow at the highest CAGR during 2016...
Arconic Inc. today announced that it has monetized more than 60 percent of the 36,311,767 shares it retained in Alcoa Corporation. The sale of 23,353,000 Alcoa Corporation shares will result in approximately $890 million in proceeds. The proceeds bolster the Company’s cash balance, which provides financial flexibility to pay down debt and/or pursue share repurchases, based on a relative-return assessment. The timing and structure of the transaction considered minimizing risk and transaction costs. Arconic has carryforward tax attributes in the U.S. that are available to offset U.S. taxable income and will utilize existing tax attributes to the extent possible. At the separation of Alcoa Inc., Arconic chose to retain a 19.9 percent stake in Alcoa Corporation. The Company indicated it would...
A number of Chinese aluminium companies are facing stern protest by citizens over pollution issues especially in the north-eastern city of Daqing. China Zhongwang Holdings, a Hong Kong-listed company that is being targeted by the protests says its production facilities conform to the highest international environmental standards. The company however says that it has not yet decided on the proposed investment plan in a new plant. According to a press statement, in 2011, Zhongwang and the Daqing government agreed to collaborate on an aluminium plant that would be designed to produce 2 million tons of high precision aluminium and aluminium alloy per year. The proposed USD 6.7 billion plant was expected to create more than 30,000 jobs, according to a statement forwarded by Zhongwang’s media...
Imports of aluminium ingot, scrap and mill products into the U.S. and Canada stand at 702 million pounds in December 2016, up 70% YOY. Exports Including scrap, which accounted for roughly 50.8% reported aluminium exports in December, stands at 472 million pounds, down 7.3% YOY and excluding scrap the amount stands at 232 million pounds, down 14% YOY. Scrap export remains flat YOY. Total imports in 2016 were 7,956 million pounds, up 34% to over 2015, while exports were down 3.4% to 5,633 million pounds. The Aluminium Association’s “Index of Net New Orders of Aluminum Mill Products” for January increased 12.5% over December 2016. Orders for flat roll products were up 8.6%, extruded products up 29.5% and orders for redraw rod were up 12.1%. Orders increased 6.4% YOY. On average, orders...
Iran is slowly venturing into the aluminium industries as overseas investors are showing interest in investing in building aluminium plants in the country because of the low energy cost. According to a report, currently, six countries including Malaysia, Singapore, South Korea, Italy and Germany have shown readiness to invest in Iran’s downstream aluminium sector. As quoted by Norallah Hassanzadeh, head of Khuzestan Industry, Mine and Trade Organization, Iran has a production capacity of 26 million tonnes of aluminium. He also expressed his intension of building an industrial township on 3000 hectares of land in east of Khuzestan. The township will accommodate petrochemical and aluminium plants for the development of the downstream sector. According to Deputy Governor General of Khuzestan...
Aluminium imports account for more than 40% of annual domestic consumption of four million tonnes. It includes both primary (ingots, billets and wire rods) and downstream aluminium products (tubes, wires and cables). Wires form a large portion of the total aluminium product import by India as 48% of aluminium consumption in India is in the electrical sector. {newsStudioGallery} In the year 2015, imports of aluminium wire by India stood at about 25,040 tons. The volume increased to 29,601 tons in 2016. Based on the trend of last two years, the aluminium wire import is forecasted to increase to about 36,275 tons for the first eleven months of 2017. The constant rise in import is driven by growing domestic aluminium consumption to manufacture value added aluminium products in the country to...
An Indian manufacturing company is planning to invest about USD 50 million to build a facility in South Carolina that will create over one hundred new jobs. This will be the first American unit of Sundaram-Clayton Limited (SCL) spread across 50 acres of land in the Ridgeville Industrial Campus in South Carolina. According to a company release, the plant will manufacture aluminium high-pressure die-cast products and permanent mould gravity cast parts for its customers. The construction of the plant is expected to start from April and the first production is expected to start by the end of next year. "Today, we're proud to welcome Sundaram-Clayton Limited to the South Carolina business community. It's a privilege to welcome any company that has decided to do business here, but the 130 jobs...
TVS Group promoted India's largest auto component manufacturer Wheels India Limited has posted net profits at INR13.21 crore for the third quarter ended December 31, 2016, up 120.9 per cent from INR5.98 crore of the corresponding period last year. The company with a robust portfolio featuring forged aluminium wheel rims amongst other products made it to the record margins mainly due to improved operating performance on the back of strong revenue growth. Wheels India's topline grew by 14 per cent from INR470 crore to total at INR537 crore in the quarter under review. For the initial nine months of 2016, the company's net profit stood at INR40.9 crore, up 77.6 per cent from INR23.02 crore in the same period of 2015. Revenues took a leap from INR1480 crore in 2015 to total at INR1,616 crore...
Due to its versatility, ease of use and easy recyclability, aluminium foil turns out to become one of the most consumed aluminium products across the world. According to the Product Complexity Index (PCI), aluminium foil is the 275th most traded product in the world and the 281st most complex product. Aluminium foil can provide complete insulation to light, oxygen, moisture and bacteria making it the perfect product to be used in food and medicine packaging. Other applications of aluminium foil include beverage, confectionary, personal care, health care and other industrial uses. Since, aluminium foils are mostly used in packaging applications, developed economies are the top consumers of foil. The global aluminium foil packaging market is expected to see high growth over coming years....
The European Commission has decided to continue to impose a 22.3 per cent anti-dumping duty on imports of aluminium wheels from the Peoples’ Republic of China. The anti-dumping duty is on original equipment and aftermarket wheels. The Association of European Wheel Manufacturers (EUWA), an organisation representing companies whose production accounts for more than 25 per cent of the European Union’s total for certain aluminium wheel types, has requested the European Commission to start an investigation. The European Commission initiated a review but later Commission found “no compelling reasons” not to maintain the existing duties. According to Wang Hejun, director of the ministry’s Trade Remedy and Investigation Bureau stated that Chinese companies were being unfairly blamed for the...
Hindalco shares surged over 3 per cent to an intraday high of INR 192.25 on Wednesday after its US subsidiary Novelis reported strong earnings for the October to December quarter. Novelis contributes more than half of Hindalco's operating profit. Atlanta-based Novelis said its adjusted net profit for the December quarter more than doubled to $67 million dollar compared to $32 million in the year ago quarter. Novelis' strong performance was supported by a 7 per cent jump in its adjusted EBITDA or operating income to a record high of $255 million and 18 per cent reduction in interest expenses as a result of refinancing of two senior note issuances during the second quarter of fiscal 2017, the company said in a press release. "Following our successful bond refinancing during the second...
Ontario, Canada based Exco Technologies has reported a quarterly Earnings Per Share of $0.27 in its recently held 2016 annual meeting of shareholders. A total of 24,407,453 common shares or 57.33 per cent of the issued and outstanding common shares were voted in connection with the meeting, Exco stated in an official media release. The global supplier of innovative technologies servicing the aluminium die-cast, extrusion and automotive industries reported total sales of $153.1 million versus $130.9 million in the last quarter ended 31 December, 2016, registering a rise of 17 per cent year-on-year. EBITDA was up 11 per cent from the corresponding period previous year. Exco raised its fourth quarterly dividend by 14 per cent to US$0.08 per common share. Free cash flow of US$18 million was...
The global market for aluminium bar rods and profiles is projected to grow at 5.7 per cent CAGR from 2016 till 2020, reveals data in a recently published market research report. During 2009-2015, the market grew at a CAGR of 7.4 per cent with aluminium alloy profiles accounting for 96 per cent of the global demand and non-alloyed aluminium bar rods and profiles contributing to only 4 per cent of the market share. While the United States, Germany, Italy, and France still remain the largest market, the APAC is estimated to grow at a higher rate with China leading the way as the key demand driver followed by India as the fastest emerging market for aluminium bar rods and profiles. {newsStudioGallery} China currently constitutes 7.6 per cent of the global aluminium bar rods and profiles...
Novelis, the world leader in aluminium rolling and recycling, today reported net income of $63 million for the third quarter of fiscal year 2017, compared to a net income of $6 million in the prior year period. Excluding tax-effected special items in both periods, the company more than doubled third quarter fiscal 2017 net income to $67 million from $32 million in the prior year. Current year net income reflects record adjusted EBITDA and an 18% reduction in interest expense, a result of the refinancing of two senior note issuances during the second quarter of fiscal 2017. "Continued operational efficiencies combined with strong aluminium automotive sheet demand and strategic capacity investments delivered record, sustainable adjusted EBITDA results this quarter," said Steve Fisher,...
Aluminium Foil is the 275th most traded product and the 281st most complex product according to the Product Complexity Index (PCI). The 4 digit HS92 product is traded around the world to be used in cigarette package, food package, flexible package, electric package industries, etc. {newsStudioGallery} The top exporters of Aluminium Foil are China, Germany, Japan and Italy. We are trying to analyse the trading patterns for all the four countries for the year 2016 with an estimated outlook for 2017. This will give us an idea about the market share of these countries in the growing foil market. In 2016, China exported an estimated 9,63,833 tons of aluminium foil and the total value of export stood at USD 3.1 billion. In comparison to China, Germany exported 3,28,687 tons of aluminium foil in...
The global automotive aluminium market is slated grow at a CAGR of 8.8 per cent (value-wise) during 2016-2026, revealed data published in a recent market research report. The market will be valued at US$111.80 billion by 2026. The powertrain application segment which accounted for the largest share of the market is projected to grow at the highest CAGR, while cast aluminium will top the product category as the fastest growing segment during the forecast period, the report says. Region-wise, Asia-Pacific automotive aluminium market will register the highest growth rate from 2016 till 2026. Aluminium is preferred by the modern-day vehicle manufacturers due its lightweightness, rigidity, and formability. The metal has been found to be far more versatile than steel in a number of specific...
Piyush Goyal, Power, Coal and Mines Minister of India said at an industry event on Friday, February 3, that the government is considering taking measures on imposing of anti-dumping duties or minimum import price to combat rising imports of downstream aluminium products in India. The government may take measures in order to protect the interests of domestic aluminium industry. According to Goyal, "Aluminium industry has faced a lot of stress in the last one year. I believe aluminium has huge potential in India. Our neighbouring countries are giving 13 per cent subsidy to downstream aluminium products and helping them to dump those in India." "I have had conversation with the aluminium industry. I found the imports of downstream products in India have gone up, which impacts both the...
Aluminium has been widely used in creating light, durable frames and structures for solar panels as it offers heat bearing capability, corrosion resistant and weather-resistant advantages to solar panel architectures. The malleability of aluminium allows the manufacturers to give shapes as per customer’s requirement. Aluminium is used for photovoltaic (PV) solar application because it saves installation cost and is much lighter and does not compromise on the strength quotient. We are trying to analyse some of the top players in PV Aluminium Frame market around the world covering United States, EU, China, and Japan with some information on the company profiles, product details, capacity, PV Aluminium Frame production etc. Here is a list of top five PV Aluminium Frames Manufacturers of...
