Downstream weekly recap: Constellium to join the 'First Movers Coalition'; Maan Aluminium yields 19% higher revenue from operations Y-o-Y to 1.88 billion for 2QFY23

Aluminium and its usage have been evolving every moment. NIST researchers created an aluminium formate (ALF) metal-organic framework (MOF), which can identify carbon dioxide (CO2) from other compounds that exit coal-fired power stations' smokestacks. This shows that the industry is keen on moving towards a greener and more sustainable environment. Constellium SE, a pioneer in creating value-added and innovative aluminium products, joined the First Movers Coalition (FMC), a worldwide movement to hasten the development of zero-carbon technologies and lower carbon emissions. Under the market forefront, Maan Aluminium Limited stated that its revenue from operations ended the quarter at INR 1.88 billion, up from INR 1.73 billion in the first quarter and INR 1.58 million in the second quarter of FY22.

On November 4, 2022, the global leader in developing innovative and value-added aluminium products, Constellium SE, announced that it is joining the First Movers Coalition (FMC), a global initiative to accelerate zero-carbon technologies and reduce carbon emissions.

To know more: https://www.alcircle.com/news/constellium-to-join-the-first-movers-coalition-accelerating-aluminium-s-decarbonization-journey-86048

According to reports, researchers from the National Institute of Standards and Technology (NIST) developed a metal-organic framework (MOF) called Aluminium formate (ALF), which can distinguish carbon dioxide (CO2) from other chemicals that escape the smokestacks of coal-fired power plants.

To know more: https://www.alcircle.com/news/aluminium-formate-can-remove-co2-from-coal-fired-power-plants-says-nist-researchers-86090

Venezuelan state-owned enterprise Aluminium Nationals SA (Alunasa) halted operations in Costa Rica almost one year ago, laying out a debt evaluation of R$19 million. As official apprentices claim, the debt has not only affected the workers but also impacted the Costa Rican coffers. 

To know more: https://www.alcircle.com/news/venezuelan-aluminium-nationals-sa-under-immense-scrutiny-even-after-one-year-of-closure-87073

Kunshan Huapin Aluminum Co., Ltd, a specialized manufacturer focused on the study, creation, manufacturing, and marketing of aluminium oxide materials has joined Aluminium Stewardship Initiative (ASI) as its new Industrial User member. Besides offering professional aluminium oxide, the company also provides custom products based on customer samples.

To know more: https://www.alcircle.com/news/kunshan-huapin-aluminum-enters-asi-as-its-new-industrial-user-member-87077

CSMET, a group company specialising in the R&D, production, marketing, and trading of low-carbon aluminium alloys, joined Aluminium Stewardship Initiative as the new Production and Transformation member.

To know more: https://www.alcircle.com/news/asi-enlists-csmet-group-as-its-new-production-and-transformation-member-87088

Novelis agreed to supply high-recycled, flat-rolled aluminium to VELUX Group for use in roof windows. The news came on Friday, November 11, after Novelis and VELUX Group entered into a partnership contract.

To know more: https://www.alcircle.com/news/novelis-to-supply-high-recycled-flat-rolled-aluminium-for-velux-roof-windows-promoting-circular-economy-87091

Novelis Inc., the world’s leading recycler and aluminium flat rolled producer announced its second-quarter results for the financial year 2023 on Tuesday, November 8. The company declared its net income attributable to common shareholders decreased by 23 per cent year-on-year to $183 million.

To know more: https://www.alcircle.com/news/novelis-net-income-from-operations-fall-23-for-2qfy23-despite-growing-net-sales-higher-input-costs-being-liable-86081

One of India’s biggest auto components manufacturing and distribution groups, Sundaram Clayton Limited (SCL), announced a consolidated net profit of INR 212.26 crore with a 43 per cent hike after the company had a 32 per cent rise in revenue due to operations, amounting to INR 8,962.55 crore in Q2 FY23 over Q2 FY22.

To know more: https://www.alcircle.com/news/sundaram-clayton-reports-43-hike-in-net-profit-to-inr-212-26-crore-in-q2-fy23-86060

On Monday, November 7, Maan Aluminium Limited announced its second quarter and H1 results of the financial year 2022-23 ended September 30, whereby it declared its revenue from operations closing at INR 1.88 billion compared to INR 1.73 billion in Q1 FY23 and INR 1.58 million in Q2 FY22. 

To know more: https://www.alcircle.com/news/maan-aluminium-yields-19-higher-revenue-from-operations-y-o-y-to-1-88-billion-for-2qfy23-86058

Constellium SE, a global manufacturer of aluminium rolled products, extruded products and structural parts, announced that the company is providing aluminium auto body sheet for the brand-new Maserati Grecale SUV.

To know more: https://www.alcircle.com/news/maserati-grecale-suv-gets-aluminium-body-sheets-from-constellium-87078