The downstream sector of the aluminium industry has been under the spotlight for a limited but strong number of reasons. To start with, according to a new study, the increased usage of electric vehicles (EVs) in global transportation is good for aluminium producers like Hindalco but negative for steel producers. Global investing company Jefferies forecasts Hindalco's stock price to return around 30% higher than competitor steel makers Tata Steel and JSW Steel for metal equities investors. This was followed by the news of the Bahrain-based Gulf Aluminium Rolling Mill B.S.C ("GARMCO"), the Middle East's first and biggest downstream aluminium facility for rolling, cutting, and fabricating aluminium, announced that it has achieved a definitive agreement with the group of Creditors to assure the Company's functionalization.
Iraq remains on the list of nations that are substantially or largely reliant on oil production and export, according to the World Bank's analysis. Oil income have accounted for more than 99 percent of exports, 85 percent of the government's budget, and 42 percent of GDP over the previous few decades. However, the country's unbridled reliance on oil has pushed it into a state of macroeconomic instability, while budget constraints limit fiscal flexibility and any countercyclical policy options.
Algeria, a North African country primarily reliant on the petroleum sector, has been lagging behind since oil prices fell in 2014. Algeria, on the other hand, is classified as an upper-middle-income country by the World Bank. According to official World Bank figures, the Gross Domestic Product (GDP) was approximately $145.16 billion in 2020.
Aluminium billet stockpiles in China increased by 27,300 tonnes week on week across five key consumption locations, according to the Shanghai Metals Market. As a consequence, as of Thursday, January 13, inventories were at 140,500 tonnes. With the exception of Huzhou, inventories rose in all of the major manufacturing centres. Foshan's inventory climbed by 20,300 tonnes, or 38.67 percent, while Wuxi's increased by 6,400 tonnes, or 36.16 percent, on a weekly basis.
To know more: https://www.alcircle.com/news/aluminium-billet-inventory-in-china-hikes-by-27-300-tonnes-to-stand-at-140-500-tonnes-75365
The Board of Directors of Kaiser Aluminum Corporation (NASDAQ:KALU) issued a quarterly cash dividend of $0.77 per share today, up 7% from the previous quarter's distribution. The dividend will be paid on February 15, 2022 to stockholders who were on the books at the close of business on January 24, 2022. Kaiser Aluminum Corporation, based in Foothill Ranch, California, is a leading manufacturer of semi-fabricated specialty aluminium products, offering highly engineered solutions to customers all over the world for aerospace and high-strength, packaging, general engineering, custom automotive, and other industrial applications.
To know more: https://www.alcircle.com/news/kaiser-aluminum-declares-a-quarterly-cash-dividend-of-us0-77-per-share-75369
After four consecutive price rises from January 5, 2022, Hindalco Industries Limited has decreased its aluminium goods and ingot pricing with effect from Friday, January 14. The price of aluminium wire rod has been reduced by INR 3,500 per tonne to INR 262,850 per tonne by the firm. After a rise of INR 4,250 per tonne, the product price was INR 266,350 per tonne on January 13.
According to the US Geological Survey (USGS), the US imported 233,000 tonnes of US aluminium crude metals and alloys from Canada in October 2021, up 32,000 per tonne or 91.38 percent over the previous month. In September 2021, 201,000 tonnes of US aluminium crude metals and alloys were imported from Canada, down from 219,000 tonnes in August 2021, indicating a decrease of 18,000 per tonne.
To know more: https://www.alcircle.com/news/us-aluminium-crude-metals-and-alloys-import-from-canada-hikes-47-46-y-o-y-in-october-2021-75373
According to a new study, the increased usage of electric vehicles (EVs) in global transportation is good for aluminium producers like Hindalco but negative for steel producers. Global investing company Jefferies forecasts Hindalco's stock price to return around 30% higher than competitor steel makers Tata Steel and JSW Steel for metal equities investors.
To know more: https://www.alcircle.com/news/aluminium-manufacturers-to-benefit-more-due-to-increased-demand-of-electric-vehicles-74350
The Bahrain-based Gulf Aluminium Rolling Mill B.S.C ("GARMCO"), the Middle East's first and biggest downstream aluminium facility for rolling, cutting, and fabricating aluminium, announced that it has achieved a definitive agreement with the group of Creditors to assure the Company's functionalization. Garmco had been experiencing financial difficulties as a result of global economic conditions, and after the passage of Law No. 22 of 2018 'Promulgating the Reorganization and Bankruptcy Law,' the Company's General Assembly decided to take advantage of the law's provisions by filing a reorganisation case.
Alro, a Romanian aluminium manufacturer, said that its downstream unit, Vimetco Extrusion (VE), which manages the extrusion business line, is launching a new investment project aimed at upgrading and boosting production capacity. This EUR 3.85 million sustainable business development project will take place between July 2021 and June 2023, with the primary goal of applying innovation to one of VE's key operations.
TANAKA Holdings, a Japanese manufacturer of precious metals materials that focuses on products for the electronics, semiconductor, and automotive industries, has announced that its subsidiary TANAKA Denshi Kogyo is planning to build a new plant in Hangzhou, China, to increase production capacity of aluminium bonding wires for power semiconductors. The facility, on the other hand, is set to open in November 2022.
To know more: https://www.alcircle.com/news/tanaka-denshi-kogyo-to-set-up-new-plant-for-aluminium-bonding-wires-in-hangzhou-china-75355
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