The global downstream aluminium sector remained in the front foot during this week. The June Quarter and H1 results are getting on-boarded and almost each and every company is booking profit with a record rise in revenue rooted to the worldwide surge in aluminium prices. The American Industrial company, Novelis Inc. headquartered in Atlanta, Georgia, United States and is a subsidiary of Indian metal manufacturing company Hindalco Industries reported net income from continuing operations of $303 million, up 597% YoY for Q1 FY 2022. On the other side, Wheels India commenced production of cast aluminium wheels at its new facility at Thervoy Kandigai in Tamil Nadu.

Hindalco Industries Limited, a subsidiary of the Aditya Birla Group is projecting to inject around INR 8,000-10,000 crore at Hirakud, Silvassa, and Mundra facilities in India. The group proposes to invest towards the expansion of flat rolling capacity at Hirakud, Odisha, new extrusion plant at Silvassa in Dadra and Nagar Haveli, and in a Greenfield site at Mundra in Gujarat with a recycling facility.

To know more: https://www.alcircle.com/news/hindalco-projects-to-invest-inr-8-000-10-000-crore-in-aluminium-downstream-business-68983

Logan Aluminum, which manufactures aluminium can sheet products in North America, has joined ASI as a new Production & Transformation member, bringing the total number of ASI Members to 182. Logan Aluminium’s rolling mill is located in Russellville, Logan County, Kentucky. The company supplies its products more than 45% of the North American can market and produces over 2 billion pounds of aluminium annually.

To know more: https://www.alcircle.com/news/logan-aluminum-joins-asi-as-new-production-transformation-member-68997

Kaiser Aluminum has announced that it will relocate its corporate headquarters from Foothill Ranch, California, to Franklin, Tennessee. The relocation will involve approximately $3 million investment and create 80 jobs. Kaiser Aluminum manufactures semi-fabricated speciality aluminium products for aerospace and high-strength packaging, general engineering, custom automotive and other industrial applications. The company operates 14 production facilities across North America.

To know more: https://www.alcircle.com/news/kaiser-aluminum-to-invest-3-million-to-relocate-its-corporate-headquarters-69010

Wheels India has announced the commencement of cast aluminium wheels production at its new facility at Thervoy Kandigai. The company has also started to export these products to the US market, said S Ram, Chairman of Wheels India while addressing shareholders at the 62nd AGM.

To know more: https://www.alcircle.com/news/wheels-india-starts-production-of-cast-aluminium-wheels-at-its-new-facility-69021

The eastern European nation, Ukraine imported 2347 tonnes of aluminium tubes and pipes during 2018-20 and the expenditure occurred for the import was $10.14 million. Ukraine’s import of aluminium tubes and pipes in 2018 was recorded at 458 tonnes and the expenditure remained was $2.23 million, whereas, in 2019, the import illustrated growth by 79.25%, as the import volume rose to 821 tonnes and expenditure also grew to $3.87 million.

To know more: https://www.alcircle.com/news/ukraines-import-of-aluminium-tubes-and-pipes-during-2018-20-illustrates-stable-growth-4-rise-predicted-for-2021-69003

According to the US Census Bureau data, the United States imported 6,220 tonnes of aluminium plates, sheets and bars from Oman in April 2021. That was a decrease of 4,220 tonnes or 40.42 per cent month-on-month, following a hike in March from 5,780 tonnes in February to 10,400 tonnes. 

To know more: https://www.alcircle.com/news/us-aluminium-plates-sheets-and-bars-imports-from-oman-fall-40-m-o-m-in-april-2021-69004

The south-eastern European nation, Romania imported 103,391 tonnes of aluminium bar rods and profiles during 2018-20 and the expenditure occurred for the import was $360.80 million. In 2018, Romania’s import of aluminium bar rods and profiles was recorded at 22,652 tonnes and the expenditure accounted for $91.54 million, whereas, in 2019, the import attracted growth by 71.76%, as the import volume soared to $144.87 million.

To know more: https://www.alcircle.com/news/romanias-import-of-aluminium-bar-rods-and-profiles-during-2018-20-reflects-steady-growth-6-50-growth-is-estimated-for-2021-69011

Vedanta Limited has decreased its aluminium ingot and aluminium product prices with effect from Wednesday, August 4, in line with the fall in the LME aluminium benchmark price on August 3. Vedanta is currently selling its aluminium wire rod at INR 232,000-239,500 per tonne, down by INR 2,750 per tonne or 1.14 per cent from INR 234,750- 242,250 per tonne on July 31.

To know more: https://www.alcircle.com/news/vedanta-reduces-its-aluminium-wire-rod-price-by-1-to-inr232-000-239-500-t-on-august-4-69014

Hindalco Industries Limited has cut its aluminium products price by more than 1%. With effect from Wednesday, 04 August 2021, aluminium billets and wire rods prices have come in at INR 231,100 per tonne and INR 235,100 per tonne, which indicates a decline of INR 2,500 per tonne from INR 233,600 per tonne and INR 237,600 per tonne on July 31.

To know more: https://www.alcircle.com/news/hindalco-industries-aluminium-products-price-slips-by-inr-2-500-t-with-effect-from-august-4-69017

On 4th August 2021, the subsidiary of Aditya Birla Group’s Hindalco Industries’, Novelis Inc., the world leader in aluminium rolling and recycling, reported net income attributable to its common shareholder of $240 million in the Q1 FY2022 compared to a net loss of $79 million in the prior-year period.

To know more: https://www.alcircle.com/news/q1-fy-2022-novelis-posts-net-income-from-continuing-operations-of-303-million-up-597-yoy-69018

According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China registered a hike of 4,200 tonnes from the previous week to stand at 103,200 tonnes on Thursday, 05 August 2021. The stocks are expected to increase next week.

To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-climbs-by-4-200-tonnes-on-august-5-69028

Hindalco Industries Limited has further slashed its aluminium products price today. With effect from Thursday, 05 August 2021, aluminium billets and wire rods prices stand at INR 229,100 per tonne and INR 233,100 per tonne. This marks a drop of INR 2,000 per tonne from INR 231,100 per tonne and INR 235,100 per tonne on August 4.

To know more: https://www.alcircle.com/news/hindalco-industries-slashes-its-aluminium-products-price-by-inr-2-000-t-69031

Maan Aluminium has presented the financial results of the first quarter of FY2022 ended on June 30, revealing a year-on-year increase of 222.98 per cent in net profit to INR 5.20 crore. In the June quarter of FY21, the company’s net profit stood at INR 1.61 crore.

To know more: https://www.alcircle.com/news/maan-aluminium-reports-above-200-y-o-y-growth-in-net-profit-for-1qfy22-69039