Downstream weekly recap: Mississippi lawmakers finalize tax incentives for the $2.5 billion aluminium mill project; Alcomet announces US$17.3 million net profit in the first nine months of 2022

This week the downstream sector of the aluminium industry witnessed the finalization of one of the biggest economic initiatives of Mississippi, where Gov. Tate Reeves and the Mississippi Legislature announced the finalization of tax incentives for the $2.5 billion aluminium mill project by Steel Dynamics. Apart from this, on October 31, Alcomet, a Bulgarian producer of rolled and extruded aluminium products, said that the first nine months of 2022 had brought in a staggering 34 million levs (US$17.3 million) in net profit. China's aluminium plate, sheet, and strip output are anticipated to reach 12.9 million tonnes by the end of 2022, up 2% from the previous year, according to the Shanghai Metals Market. At year's end, production of aluminium foil is anticipated to reach 4.75 million tonnes, an increase of 3% over the previous year. A division of Sweden-based Gränges AB is Gränges Powder Metallurgy, situated in Germany. In the emerging field of additive manufacturing, Gränges successfully introduced its second aluminium alloy. The company's Dispal® portfolio also included the extremely durable aluminium alloy S260 AM, distinguished by outstanding tribology properties and great wear resistance.

On Monday, October 31, Mississippi Gov. Tate Reeves announced that a special legislative session would be organised on Wednesday to discuss the much-awaited incentive plan for the $2.5 billion aluminium factory in Lowndes County.

To know more: https://www.alcircle.com/news/mississippi-gov-tate-reeves-announces-meeting-to-finalize-the-2-5-billion-aluminium-mill-project-in-lowndes-county-85994

On Wednesday, November 2, Gov. Tate Reeves and Mississippi Legislature finalized one of the greatest economic development projects of the region, which is expected to create 1,000 employment opportunities in Lowndes County. The Mississippi House and Senate have approved the tax incentives for the companies' expansion in the Golden Triangle.

To know more: https://www.alcircle.com/news/mississippi-lawmakers-finalize-tax-incentives-for-the-2-5-billion-aluminium-mill-project-by-steel-dynamics-86027

Gränges Powder Metallurgy from Germany is a subsidiary of Sweden-based Gränges AB. It had successfully launched its second aluminium alloy, which has a growing demand in the Additive Manufacturing industry. S260 AM, the highly durable aluminium alloy, belongs to the company's Dispal® portfolio that can be differentiated by incredible tribology features and high-wear resistance.

To know more: https://www.alcircle.com/news/granges-powder-metallurgy-introduces-s260-aluminium-alloy-for-additive-manufacturing-sector-86018

According to the Shanghai Metals Market, China’s aluminium plate/sheet and strip output is expected to amount to 12.9 million tonnes at the end of 2022, reflecting an increase of 2 per cent over the year. Aluminium foil output is estimated to clock at 4.75 million tonnes at year-end, up 3 per cent year-on-year.

To know more: https://www.alcircle.com/news/smm-expects-chinas-aluminium-plate-sheet-and-strip-output-will-mark-a-2-y-o-y-growth-at-2022-end-86035

Bangladesh Thai Aluminium Ltd. recorded a 98 per cent falling net profit for the year ending on June 30, 2022, in contrast with the previous year's earnings. This was mainly due to the augmented raw material and freight rates, alongside the degrading economic conditions of the region.

To know more: https://www.alcircle.com/news/bangladesh-thai-aluminiums-net-profit-marks-98-steep-fall-with-no-dividend-declaration-by-its-board-86025

Alcomet, the Bulgarian manufacturer of aluminium rolled and extruded products, on October 31, declared that the company had yielded an incredible net profit of 34 million levs (US$17.3 million) in the primary nine months of 2022 alone. The profit is, by all means, higher than the 742,000 levs profit in the same period in the previous year.

To know more: https://www.alcircle.com/news/alcomet-announces-us17-3-million-net-profit-in-the-first-nine-months-of-2022-despite-declining-sales-85993

According to the Shanghai Metals Market, China’s aluminium extrusion imports from January to September 2022 stood at 26,000 tonnes, reflecting an increase of 12.4 per cent year-on-year. 

To know more: https://www.alcircle.com/news/chinas-aluminium-extrusion-exports-in-nine-months-of-2022-grow-2-6-yoy-due-to-low-shfe-lme-price-ratio-85985

The second-largest industrial aluminium extrusion product developer and manufacturer in the world and the largest in Asia, China Zhongwang Holdings Limited prospered in the 2000s along China’s resonating property sector, which created robust demand for its products in construction.

To know more: https://www.alcircle.com/news/asian-aluminium-extrusion-giant-china-zhongwang-holdings-declared-bankrupt-85972