Downstream Weekly Recap: Hulamin’s aluminium rolled product sales grow 43% in H1 2021; China’s aluminium billet inventories increase 14,600 tonnes

Global aluminium downstream industry remained muted this week except delivering a few updates such as Hulamin’s, South Africa-based aluminium supplier and exporter, flattering results for both rolled and extruded product segments and the rise in China’s aluminium billet inventories on large arrivals of stocks.

During the six-month period ended June 30, 2021, Hulamin’s rolled and extruded product sales rose 43 per cent and 58 per cent, respectively, from the same period last year. As report revealed, Hulamin’s profit improved, generating free cash flows of R128 million. Hulamin’s overall group sales volume increased 44 per cent to 102,000 tonnes for the period, while revenue spiked 50 per cent to INR5.5 billion.

EBITDA also saw a hike of 166 per cent to INR78.6 million, while basic earnings a share surged by 139 per cent to 29c.

To know more: https://www.alcircle.com/news/hulamins-aluminium-rolled-product-sales-grow-43-in-h1-2021-revenue-spike-50-to-r5-5-billion-70251

Kaiser Aluminium received a grant of $1.25 million from the Tennessee Department of Economic and Community Development (TNECD) for moving its company headquarters from California to Franklin. The grants provided by TNECD are FastTrack grants from the state given to companies for job training projects or infrastructure development for purchasing or relocating equipment, building repairs and improvements, temporary office space or other temporary equipment related to relocation or expansion.

To know more: https://www.alcircle.com/news/kaiser-aluminum-receives-1-25-million-grant-from-tnecd-for-relocating-headquarters-70241

On Thursday, September 2, Vedanta Limited decreased its aluminium products prices by INR 4,000 per tonne or 1.68 per cent, bringing the aluminium wire rod price to INR 233,750-241,250 per tonne from INR 237,750-245,250 per tonne on August 28. The company aluminium billet price came in at INR 234,250 per tonne, compared to INR 238,250 per tonne last week.

To know more: https://www.alcircle.com/news/vedanta-cuts-aluminium-wire-rod-and-billet-prices-by-1-7-on-september-2-after-three-consecutive-hikes-70265

According to the Shanghai Metals Market data, aluminium billet inventories in China built-up 14,600 tonnes or 11.7 per cent from a week ago to stand at 139,000 tonnes on Thursday, September 2. Large arrivals at warehouses amid weaker purchases resulted in inventory accumulation, found SMM.

To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-increase-14-600-tonnes-this-week-on-large-arrivals-of-stocks-and-weaker-purchases-70276

Gillespie & Powers Inc. announced the purchase of Thorpe Holding Company, including Thorpe Technologies Inc. and JT Thorpe Inc., all located in San Dimas, California. Mr Jack Gillespie will be assuming the role of President at Thorpe Technologies Inc., with Mr John Allen remaining with Thorpe Technologies Inc as Sr. Vice President. On the other hand, Mr John Peterman will remain as President of Gillespie & Powers Inc. with Mr Jack Gillespie as Vice President/COO.

To know more: https://www.alcircle.com/press-release/gillespie-powers-inc-purchases-thorpe-technologies-7025