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THINK ALUMINIUM THINK AL CIRCLE
The global aluminium downstream segment remains in the spotlight this week with regard to multiple happenings. The world second-largest and Asia’s biggest producer of aluminium extrusions, China Zhongwang whose products are broadly consumed in multiple sectors like transport, construction and electronics industries have reported a financial crisis at the Hong Kong bourse. Zhongwan headquartered with its vital production base is in the city of Liaoyang, the north-eastern province of Liaoning, one of the Chinese regions hardest hit by widespread power crisis that have cramped industrial production. The biggest aluminium billet producer in the United States, Matalco has sent an S-o-S to consumers of its output slash and rationalizes supplies immediate next year amid a magnesium crisis. Matalco also stated that in the past several weeks, magnesium availability has dried up and they have not been able to procure the required Mg units for all of 2022.
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Kaiser Aluminum, an American producer of superior aluminium mill products, has revealed its third-quarter results mentioning net sales of $751 million, with value-added revenue of $305 million. The data indicates that the company’s revenue decreased quarter-on-quarter by $13 million despite the hike of $10 in net sales.
Hindalco Industries Limited has continued to increase it's aluminium products prices, in line with the continuous rise in LME aluminium benchmark price. With effect from Tuesday, October 19, Hindalco’s aluminium billets price stood at INR 287,600 per tonne, up by INR 2,500 per tonne from INR 285,100 per tonne on October 15.
The Pietermaritzburg, South Africa based company that specialises in rolled aluminium products for precision and high technology applications, Hulamin’s stock prices climbed to a 25% rise in the morning trade of 14th October 2021, following the metal company issued a cautionary that it has set foot in discussions.
To know more: https://www.alcircle.com/news/hulamins-share-price-jumps-25-ensuing-it-issued-a-cautionary-71639
According to the Shanghai Metals Market, aluminium billet inventories in China decreased by 3,200 tonnes week-on-week across five major consumption areas. As a result, the inventories closed at 181,200 tonnes on Thursday, October 21. The stock decline in Foshan and Nanchang resulted in a decrease in aluminium billet inventories this week. According to SMM, the inventory of aluminium billet declined because the arrivals contracted this week and the shipments picked up significantly the day before as the aluminium prices moved down.
The world’s leading manufacturer in flat-rolled aluminium (FRP), Assan Aluminyum, a subsidiary of Kibar Holding, has settled plans to invest further in sustainable expansions through a sequence of investments worth over $95 million from 2021 through 2024. However, with the accomplishment of the expansion of the project, Assan Alüminyum is expected to have the largest continuous casting capacity in Europe and America.
To know more: https://www.alcircle.com/news/assan-aluminyum-finalizes-further-investment-in-sustainable-expansions-71650
The aluminium industry is countering the dearth of raw materials for the production of the metal that is utilized in vehicle manufacturing and building supplies sends an alert for distress in supply that has propelled US prices to an all-time peak. The biggest aluminium billet producer in the United States, Matalco has sent an S-o-S to consumers of its output slash and rationalizes supplies immediate next year amid a magnesium crisis.
To know more: https://www.alcircle.com/news/us-aluminium-producers-sent-an-alert-on-output-curbs-due-to-magnesium-crisis-71653
Novelis Inc., one of the leading producers of rolling aluminium and the global leader in beverage cans recycling announced that they will invest US$130 million in their Oswego, New York operations to fulfil growing customer demand for sustainable aluminium flat-rolled products. This project will enable Novelis to ascend their hot mill capacity at the factory, which services the can, automotive, and speciality products industries, by 124,000 metric tonnes, as well as improve automotive sheet finishing capabilities.
To know more: https://www.alcircle.com/news/novelis-plans-investment-of-130-million-to-boost-oswego-operations-71656
Affin Hwang Capital informed that China's energy crisis, which is projected to last until 2022, would result in some profit margin erosion in Press Metal Aluminium Holdings Bhd's earnings. According to Affin Hwang Capital, raw material supply, including alumina, carbon anode, magnesium, and silicon metal, is likely to be under pressure in the next quarters, as China struggles with its energy shortages, causing manufacturing interruptions.
To know more: https://www.alcircle.com/news/china-s-energy-crisis-dents-press-metals-margin-says-affin-hwang-capital-71674
The renowned manufacturer and supplier of aluminium flat-rolled products in the United Kingdom have obtained a £60 million asset-based lending (ABL) facility from HSBC UK to support the expansion of its product range and power its future growth plans. The metal strips for lithography printing Bridgnorth Aluminium will utilize the funding from HSBC UK to diversify into different markets, driving away from being purely recognised as a lithography specialist to a more multifaceted approach.
Austria-based high-quality aluminium products supplier Hammerer Aluminium Industries (HAI) is reportedly investing in a third recycling furnace at its Santana site in Romania, in response to the increasing demand for lightweight aluminium products. The new furnace is expected to produce high-quality aluminium recycling material at a full capacity from early 2022.
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