Downstream weekly recap: Chinese billionaire Liu Zhongtian penalized for aluminium scam of $1.8 billion dollars; ELVAL accepts a €75 million from the EIB to be paid in 10 years
This week has been very eventful for the downstream aluminium products sector with Ministers of the United Arab Emirates visiting their manufacturing units to plan upgradations while Chinese billionaire Liu Zhongtian defrauding America by forging aluminium into ‘pallets’ to avoid paying US$ 1.8 billion to US customs. The export of aluminium plates, sheets, and bars faces a blow in America similarly, Chinese aluminium plate/sheet and strip producers decrease activity resulting in a Year-on-Year decline. In the Middle West, Qalex under Qatar Industrial Manufacturing Company (QIMC) welcomes the second nitriding system from Nitrex, a global producer of turnkey systems, Canada and Gränges Powder Metallurgy gifts Sweden with its first aluminium alloy DISPAL® S220 for additive manufacturing. European Investment Bank (EIB) lends Elval €75 million for a period of 10 years by which the company will fund half of its new investment.
With the advent of the Paris Peace Accord, 2015 all the prominent industries are shifting to more sustainable methods of manufacturing mainly by promoting Net-Zero, the only way to succour our future generation.
The second-largest economy of the Arab world, the United Arab Emirates (UAE) is devoted to executing its tactics of reinforcing priority industrial spheres like heavy industry and upgrading their contribution to the nation’s economic development, according to Dr Sultan Al Jaber, Minister of Industry and Advanced Technology.
To know more: https://www.alcircle.com/news/arab-worlds-second-largest-economy-projects-to-raise-industrial-contribution-78080
Six Southern California companies linked to Chinese billionaire Liu Zhongtian were fined $1.83 billion on Monday, April 11. They were fined for conspiring to defraud the US through a scheme in which massive amounts of aluminium were disguised as "pallets" to avoid paying $1.8 billion in customs duties exported to the US. They were further "sold" to fraudulently inflate a China-based company's revenues and deceive investors around the world.
The Aluminium Stewardship Initiative (ASI) certified each of Hydro's three extrusion operations in Brazil, based on ASI's Performance Standard. The ASI-certified extrusion factories in Brazil are Itu (SP), Tubaro (SC), and Utinga (SP). The factories employ roughly 900 workers in total. ASI assesses many factors to determine whether or not supply chains are increasingly incorporating sustainability and human rights principles.
To know more: https://www.alcircle.com/news/asi-certifies-hydros-three-aluminium-extrusion-plant-in-brazil-78098
Deriving from the DISPAL® family of high-performance aluminium, the S220 AM is Sweden’s first aluminium alloy for Laser Beam Powder Bed Fusion (PBF-LB) addictive manufacturing as being introduced by Gränges Powder Metallurgy headquartered in Stockholm. This alloy is quite similar to steel but one third its weight which makes it quite preferable for aerospace and automotive industries.
To know more: https://www.alcircle.com/news/granges-powder-metallurgy-steps-towards-additive-manufacturing-with-s220-78106
The brainchild of the Qatar Industrial Manufacturing Company (QIMC), Qatar Aluminium Extrusion CO. (Qalex) received a second nitriding system from Nitrex. The aluminium profiles manufacturer desired to equip a second extrusion plant with an independent nitriding furnace to safeguard handling, processing time and costs associated with having to transport extrusion dies back and forth from its first factory for nitriding work.
To know more: https://www.alcircle.com/news/qalex-receives-second-nitriding-furnace-from-nitrex-79111
The export of aluminium plates, sheets and bars from the United States for January 2022 reflected a month-on-month downfall. In January 2022, US exported a total of 33,100 tonnes of aluminium plates, sheets and bars, which on a month-on-month scale dwindled by 7,400 tonnes or 18.27 percent from 40,500 tonnes in December 2021.
To know more: https://www.alcircle.com/news/us-aluminium-plates-sheets-and-bars-export-in-january-2022-shows-monthly-downfall-78116
In March 2022, the average operating rate of Chinese aluminium plate/sheet and strip producers was 79.22 per cent, up by 1.81 percentage points from the previous month but down by 1.14 percentage points on the year. The operating rate grew in line with the increased orders during the traditional peak season.
Hindalco Industries Limited again cut its aluminium products and aluminium ingot prices, with effect from Thursday, April 14, albeit much lesser than the previous day. As against the slash of INR 12,500 per tonne on Tuesday April 12, Hindalco’s aluminium wire rod price has seen a trim of INR 1,250 per tonne on April 14 to INR 291,100 per tonne.
On Thursday, April 14, China’s aluminium billet inventory declined by 8.02 percent W-o-W to halt at 146,400 tonnes. The epidemic significantly impacted both freight inflows and outflows, therefore inventories in east China did not alter substantially. The adjustments in east China's inventory will be determined by how the epidemic develops.
To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventory-plunges-by-8-02-w-o-w-to-146-400-tonnes-79126
Elval received €75 million 10 year loan from the European Investment Bank (EIB), which will fund half of its new investment. Elval is ElvalHalcor S.A.'s aluminium rolling subsidiary and one of the world's largest aluminium rolling producers
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