This week, the operating rate of major aluminium processors in China remained stable with a slight overall rebound, rising 0.1 per cent month-on-month. Performance was mixed across sectors, as the industry continues a moderate recovery trend. The operating rate for primary aluminium alloys climbed 0.6 percentage points to 61.4 per cent, driven by improved order volume and year-end momentum from automakers to meet their annual targets, with a positive short-term outlook. The operating rate for aluminium wire and cable rose 0.4 percentage points to 64.8 per cent, supported by recovering photovoltaic demand and restored margins, although the sustainability of the upward trend remains to be seen. The operating rate for secondary aluminium rebounded 0.6 percentage points to 53.9 per cent, with...
Novelis reported a 20 per cent year-on-year increase in adjusted EBITDA to USD 508 million in the second quarter of fiscal year 2027, while rolled product shipments declined 2 per cent to 919,000 tonnes. Net sales rose 25 per cent to USD 5.9 billion from USD 4.7 billion in the corresponding quarter last year, mainly due to higher average aluminium prices. Higher shipments of beverage packaging and aerospace products were partly offset by lower volumes in automotive and speciality products. Net income attributable to Novelis' common shareholders increased 29 per cent to USD 210 million, compared with USD 163 million a year earlier. Excluding special items, net income also rose 29 per cent to USD 146 million. Explore further insights and forecasts for the aluminium flat rolled products...
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Alcoa announced that effective July 1st 2011, the Company’s Asia Pacific regional headquarters will report to Alcoa’s Business Excellence and Corporate Strategy organization part of an initiative to support the expanding footprint of Alcoa’s three business groups in the fast growing and strategically important Chinese market. As part of this initiative, Mr Jinya Chen president of Asia Pacific Regional was elected a VP of Alcoa by the Company’s Board of Directors. While continuing to lead the region, Chen will report to Mr Kay Meggers VP of Corporate Initiatives and will have overall accountability for Alcoa’s China strategy. The Company also announced that Mr Jiming Zhu will join Alcoa as President, China Rolled Products with responsibility for managing all of Alcoa’s Global Rolled...
China’s central government may cut its tax rebate for the nation’s aluminum exporters in light of punitive actions taken by the United States. Specifically, tax rebate on exports of certain semi finished aluminum products may be cut to 9% from 13%. The source said that the government may encourage the integration of the domestic aluminum sector by limiting aluminum exports through the tax rebate cuts. Australia might consider anti-dumping measures actions similar to those taken by the US in the near future. Aluminum prices on London Metal Exchange are likely to rise due to a demand increase in the EU and US markets, and supply decrease from China.
Aleris has named Steven A. Faas senior vice president and chief information officer (CIO). Faas joins the company today and will lead all Information Technology (IT) activities for the company, including global enterprise resource planning. Faas joins Aleris from Cerberus Operations and Advisory Company, LLC, where he served as CIO/IT Operations executive since 2008. Before joining Cerberus, he was a consultant with the IT Turnaround Services practice at AlixPartners, LLP. Prior to that, Faas was vice president and CIO for ITT Corporation. He began his career at General Electric Company, and served for 18 years in Finance, Human Resources, Operations and IT roles, including as CIO for GE Energy Products. "Steve brings a wealth of experience in IT to this important role," said Steven J....
Alcoa Inc.(AA) the largest U.S. aluminum producer, signed a memorandum with JSC Holding Inter-regional Distribution Grid Companies (JSC Holding IDGC), OJSC RUSNANO to set up a joint venture to develop and produce nano-coatings. The new JV project will manufacture anti-icing nano-coatings for use in ground wires, cables and other parts of power transmission lines. In addition, the JV will produce advanced cables and wires with enhanced anti-icing and conductivity features for JSC Holding IDGC. RUSNANO and Alcoa will be responsible for installing a pilot manufacturing line for nano-coatings application. As a part of the project, JSC Holding IDGC will support R&D, testing and new product certification. The major issue faced by power engineers in Russia is the icing and breakage of power...
At the Paris Air Show 2011, Alcoa, along with Spirit AeroSystems, will display an innovative fuselage panel made of aluminum-lithium alloy for the commercial aerospace industry. The new aluminum-based solutions have lower production risks compared to composite-made aircraft. The panel is lightweight, cost-effective and can be produced using existing infrastructure. Alcoa’s Al-Li 2060 aluminum-lithium alloy has been used in the fuselage of a jetliner. Spirit AeroSystems has performed the stretch-forming process to produce a final curved shape. The advanced aluminum-lithium alloy is compatible with the present production supply chain of new jetliners and delivers corrosion resistance, damage tolerance and strength. The compatibility benefit is important for single-aisle jetliner programs...
Aluminium Rolling Mill Company, owned by Takamul Investment Company, laid the foundation-stone for its facility in Sohar Industrial Estate. The project, which costs $ 385 million, is the biggest added-value venture so far in the field of aluminium in the Sultanate. The project will provide more than 270 direct job opportunities, as well as a number of associated investment opportunities. The production capacity of the facility stands at 140,000 tonnes of multipurpose rolled aluminium sheets. The construction of the facility will take 31 months. All environmental and safety requirements were considered during the designing phase and the latest technologies will be implemented while manufacturing aluminium flat rolls.
Aluminum giant Alcoa (H5 F220) is here exhibiting a fuselage section manufactured with advanced aluminum-lithium alloy sheet that was stretch-formed on existing tooling by Spirit Aerosystems’ factory in Wichita, Kansas. U.S.-based Alcoa is targeting the next generation of single-aisle aircraft (with a clear focus on Boeing’s expected decision this year) as the potential first applications. It is touting the merits of new-technology metals against composites–lower weight, better fuel efficiency, reduced cost and less risks in production–promised for aircraft entering into service before 2020. “We learned the hard way that we did not innovate enough,” Kevin Lowery, communications director for Alcoa’s global rolled products, told AIN. He was referring to the decisions by Boeing and then...
Aluminum Rolling Mill Company, owned by Takamul Investment Company today laid the foundation stone for its facility in Sohar Industrial Estate. The project is the biggest added value project till date in the field of aluminum in the Sultanate. The project's total cost stands at $ 385 million. The production capacity of the aluminum rolling mill is 140,000 ton of multipurpose rolled aluminum sheets. The project will provide more than 270 direct job opportunities, as well as, a number of associating investment opportunities. It is wroth mentioning that the project construction will take 31 months. All environmental and safety requirements were considered during the designing phase including selection of the latest technologies in manufacturing aluminum flat rolled products.
May aluminium shipments from US metals centres totalled 127,400 tonnes or 31.4% more aluminium than in May 2010. For the year to date, shipments of aluminium totalled 629,300 tonnes or 27.8% more volume of the metal than last year. Month end aluminium inventories of 362,900 tonnes were 29.4% greater than at the end of May 2010 and at current shipping rates equal to a 2.8 month supply. Canadian aluminium shipments during May totalled 12,500 tonnes or 10.9% more than service centre volume during the same month last year. Shipments for the year of 61,100 tonnes were up 9.1% from a year ago. Inventories at the end of May of 30,600 tonnes of aluminium were 6.9% below year ago stockpiles and at current shipping rates, equal to 2.5 month supply. The Metals Activity Report (MAR), based on data...
China, being the largest consumer and major producer of aluminium, remains the growth engine for global aluminium industry. China’s aluminium demand outstripped the domestic supply in the last few years. The growth of aluminium depends on a number of factors, like rapid industrialization, economic growth and growth in end user segment of aluminium, says “China Aluminium Market Analysis”. This report discusses the impact of the Chinese aluminium industry on the global aluminium industry and analyzes the current and future of the industry. It thoroughly investigates the current market trends, evolving markets and growth prospects. This research comprehensively studies the market to evaluate its future direction. However, the forecast given in this report is not based on a complex economic...
-Alcoa (NYSE:AA) announced today that effective July 1, the Company’s Asia-Pacific regional headquarters will report to Alcoa’s Business Excellence and Corporate Strategy organization, part of an initiative to support the expanding footprint of Alcoa’s three business groups in the fast-growing and strategically important Chinese market. As part of this initiative, Jinya Chen, Asia-Pacific Regional President, was elected a Vice President of Alcoa by the Company’s Board of Directors. While continuing to lead the region, Chen will report to Kay Meggers, Vice President, Corporate Initiatives, and will have overall accountability for Alcoa’s China strategy. The Company also announced that Jiming Zhu will join Alcoa as President, China Rolled Products, with responsibility for managing all of...
The board of Aluminium Extrusion Industries, on Wednesday presented its audited result for the year ended December 31, 2010, indicating that although turnover raised slightly, profit before and after tax fell. The board however recommended a dividend of five kobo per share for payment to shareholders whose name appear on the register when it closes on September 8, for approval at the annual general meeting on September 22, in Lagos, while payment date will be announced later. Turnover, according to the result presented to the Nigerian Stock Exchange (NSE) rose to N1.611 billion from previous year’s N1.518 billion.
ROLEC has launched its new range of aluPLUS standard aluminium enclosures, incorporating many modern features previously unique to its aluCASE designer series. The new aluPLUS enclosures offer electronics designers a much higher degree of sophistication previously unavailable in this segment of the diecast enclosures market. ROLEC has launched its new range of aluPLUS standard aluminium enclosures, incorporating many modern features previously unique to its aluCASE designer series. The new aluPLUS enclosures offer electronics designers a much higher degree of sophistication previously unavailable in this segment of the diecast enclosures market. Effectively aluPLUS gives them the best of both worlds: high quality designer features – such as clip-on trims – in cost effective industry...
Alcoa, a manufacturer of fabricated and primary aluminum products, has announced that its architectural aluminum products have been selected for installation on the London Halo Tower. Kawneer UK, an architectural aluminum systems business of Alcoa, will supply the products. The Halo Tower is a 43-story residential building housing over 700 apartments and penthouses with one-to four-bedrooms. The tower is situated outside the Olympic Park and after completion it will become one of the tallest housing buildings in the city. Kawneer’s AA110 curtain walling will be installed from the ground floor level to the third floor, while the AA201 unitized curtain walling is being installed from the 4th to the 43rd floor. The design includes colored spandrels that change from dark to light blue colors....
UBS analyst Brian MacArthur has aggressively cut his price target on Alcoa Inc. (AA-N15.410.312.05%) ahead of the aluminum giant’s second-quarter results on July 11, citing - among other factors - higher raw material, maintenance and energy costs in upstream operations. He’s forecasting earnings per share of 32 cents for the three-month period, above the 28 cents earned in the first quarter, but below consensus of 36 cents. Mr. MacArthur also revised his earnings-per-share forecast for 2011 to $1.13 from $1.22, to reflect realized pricing, foreign exchange rates to date and rising costs. These rising costs in the industry also prompted him to temper his earnings expectations in 2012 and 2013. Downside: Mr. MacArthur’s price target is now $16.75 (U.S.), down from $19.50. He maintained a...
KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, today announced its acquisition of Cornell Dubilier Foil, LLC ("CDF"), a Tennessee based manufacturer of foils utilized as a core component in the manufacture of electrolytic capacitors. The total consideration paid in the transaction is $15 million. "This acquisition is a first step in the strategic direction we outlined recently to find opportunities to vertically integrate our operations to better control our supply sources and our cost structure," said Per Loof, Chief Executive Officer of KEMET. Chuck Meeks, KEMET's Executive Vice President, Ceramic, Film and Electrolytic Business Group, said, "The capability associated with this facility provides tremendous...
Chinese aluminum prices may keep flat due to high production and weaker demand in the coming two months. It’s estimated that 1.5 million tonnes of new annual capacity will come on stream during June and July. Also, the monthly production hit the record high of 1.46 million tonnes in April. According to statistics, China produced 8.2 million tonnes of semi finished aluminum in the first 4 months of this year up 37% year on year. At the same time, the exports increased sharply by 38% to 880,000 tonnes. However, industry sources said that the high exports of semi finished aluminum products have been decreasing the inventories in the major markets such as Shanghai, Wuxi and Hangzhou and Nanha to 600,000 tonnes. Analysts pointed out that aluminum prices increased in last week, driven by the...
Mr Andrew Shaw MD of Ducab talks about how the company posted record sales but lower profits and the threats facing the cable manufacturing industry: Q - You supply the building industry, so how did you fare during the downturn? A - You might expect that we were the first to be hit but in fact in our industry the pain comes a little later. When it hit at the end of 2008 all our contracted customers were hit hard but after that initial shock 2009 continued reasonably well because there was a large executive order. Of course a lot of jobs got postponed or slowed down but a lot just finished, so when the crisis hit our volumes went down but we continued tracking on OK in 2009. In 2010 it really started to bite. Q - You say that but yet you managed record sales last year. How did that happen?...
