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THINK ALUMINIUM THINK AL CIRCLE
The global aluminium industry's most crucial, downstream segment remained highlighted due to some of the potential news. A lot of companies like Hydro extrusion Suzhou, Alumex PLC, and the Hindalco Hirakud-FRP plant received their ASI certifications. Apart from this, Novelis reported record net sales of US$17.1 billion in FY2022, boosted by 3.858 Mt of aluminium FRP exports.
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Novelis Inc., the world’s leader in aluminium rolling and recycling, has announced its fourth-quarter and full-year results for the financial year 2022. It has mentioned in the report a Y-o-Y hike of 21 per cent in net income from continuing operations for the quarter ended March 31 to $217 million, supported by record shipments of 987,000 tonnes compared with 983,000 tonnes during the same period last year.
An aluminium high pressure die casting common facility centre (CFC) is planned for construction at Chinnavedampatti, by the Tamil Nadu Small Industries Development Corporation (TANSIDCO). The estimated cost for the same is expected to be 5.8 crores and will be deployed as part of the state government's common production infrastructure (CPI) programme. Chinnavedampatti is a suburb of Coimbatore in Tamil Nadu, India.
To know more: https://www.alcircle.com/news/tansidco-planning-to-set-up-aluminium-die-casting-facility-at-chinnavedampatti-79379
India’s largest producer of aluminium, Vedanta Aluminium announced the appointment of George English, in the position of Director - Value Added Products. Vedanta Aluminium operates one of the world’s leading single largest aluminium smelters in Jharsuguda, Odisha.
To know more: https://www.alcircle.com/news/vedanta-aluminium-names-george-english-as-director-of-value-added-products-79374
On 6 May, Rio Tinto Fer et Titane (RTFT) reported that its commercial-scale demonstration plant in Sorel-Tracy, Quebec had produced its first batch of high purity scandium oxide. High purity scandium oxide is being extracted from the production residue of titanium dioxide by a phenomenal process developed by RTFT that requires no mandatory mining.
Aluminium Stewardship Initiative (ASI) welcomed Hindalco Industries Ltd (HIRAKUD FRP) as its new production and transformation member. The Hindalco Hirakud-FRP Plant (Flat-Rolled Product), located in Sambalpur, Odisha, approximately 325 km from Bhubaneswar, houses one of the country's most advanced rolling mills. This factory, which covers 50 acres, was created in April 2009 after a collaborative review by Hindalco and Novelis teams.
To know more: https://www.alcircle.com/news/hindalco-hirakud-frp-plant-joins-asi-as-new-production-and-transformation-member-79385
Alumex PLC has joined Aluminium Stewardship Initiative(ASI) as a new member in the Production and Transformation division. Sri Lanka's largest fully integrated manufacturer of aluminium extrusion profiles and worldwide proprietary technologies under licence is Alumex PLC.
To know more: https://www.alcircle.com/news/alumex-plc-joins-asi-as-new-production-and-transformation-member-79402
Hydro’s aluminium extrusion plant in Suzhou is the company’s first Aluminium Stewardship Initiative (ASI) performance standard-certified aluminium extrusion firm in China. The firm located in Shanghai's Suzhou Industrial Park roughly employs 350 workers and has undergone multiple expansion projects, the most recent of which is a NOK 390 million investment, since its inception in 2004.
To know more: https://www.alcircle.com/news/hydro-extrusion-suzhou-the-first-extrusion-plant-in-china-to-receive-asi-certification-79416
Hindalco Industries Limited has finally raised its aluminium ingot and aluminium products prices, with effect from Thursday, May 12, after more than two weeks of back-to-back cuts for the LME aluminium price fall. Now, the company is selling its aluminium billets price at INR 258,600 per tonne versus INR 253,850 per tonne on May 11. That’s an increase of INR 4,750 per tonne or 1.87 per cent in a day.
On May 12, China’s domestic aluminium billet inventory surged by 10,100 tonnes or 7.84 per cent W-o-W to halt at 138,700 tonnes, said SMM. Lower conversion margins may in the future, entice purchasers. After the epidemic was brought under control, the market mood improved. As a result, inventories of aluminium billets may fall next week.
To know more: https://www.alcircle.com/news/aluminium-billet-inventory-in-china-escalates-by-10-000-tonnes-w-o-w-to-138-700-tonnes-80417
Manaksia Aluminium announced its financial results for the period ending March 31, 2022. As per the data, the firm earned a total income of INR 128.9419 crores on March 31, 2022. On a Q-o-Q comparison, the price went down by 1.16 per cent from INR 130.4571 crores for the quarter ended December 31, 2021.
To know more: https://www.alcircle.com/news/manaksia-aluminiums-q4fy22-results-records-a-drop-of-28-67-to-inr1-7920-crores-79414
Hindalco Industries Limited has continued to slash its aluminium products and aluminium ingot prices, with effect from May 10, 2022. This marks the seventh consecutive price cut by Hindalco since April 21. On May 10, Hindalco’s aluminium wire rod price has come in at INR 253,350 per tonne, down by INR 8,500 per tonne or 3.25 per cent compared to the cut of INR 4,750 per tonne on Saturday, May 7. On May 7, Hindalco's aluminium wire rod price stood at INR 261,850 per tonne.
Dudley Aluminium is going to join hands with ISG construction Ltd and BAM Construction for building sustainable school complexes in various parts of the UK. The First school will be situated in Rhydyfelin, in the Pontypridd area of Wales and the second school is planned to be in North Brent, London.
To know more: https://www.alcircle.com/news/dudley-aluminium-collaborates-with-isg-and-bam-to-build-sustainable-schools-in-uk-79395
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On May 11, Novelis, a wholly-owned subsidiary of Aditya Birla Group firm Hindalco, announced a $2.5 billion investment in new low-carbon recycling and rolling factory in Bay Minette, Alabama. This state-of-the-art factory will be able to manufacture 600,000 tonnes of aluminium sheets per year. Site development is already underway, with commissioning expected to commence in mid-2025.
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