Downstream weekly recap: SRF Ltd's share price rises 1% following approval of its aluminium foil venture
The downstream aluminium sector has been a witness to major developments this week. To begin with, SRF Ltd committed INR 536 crore towards establishing SRF Altech Limited, a dedicated subsidiary focused on producing aluminium foil. This strategic decision aligns with SRF's broader goals of diversification and expansion within the aluminium industry. According to the December 2023 survey conducted by the Shanghai Metals Market among 123 Chinese aluminium processing enterprises, the composite Purchasing Manager's Index (PMI) for the aluminium processing industry experienced a decline, dropping to 43.6 per cent from the November figure of 47.3 per cent. Constellium, a prominent player in creating innovative and value-added aluminium products, is set to unveil its latest advancements in aluminium automotive structures at CES 2024 in Las Vegas from January 9 to 12. As per the statement by the Algerian ambassador to Malaysia, Abdelhafid Bounour, Lion Group is set to make a substantial investment of approximately US$6 billion (RM 27.5 billion) in Algeria. This investment aligns with Algeria's strategic vision of positioning itself as the gateway to Africa and beyond.
SRF Ltd invested INR 536 crore in establishing SRF Altech Limited, a subsidiary dedicated to manufacturing aluminium foil. This strategic move aligns with SRF's broader initiatives for diversification and growth within the aluminium industry.
To know more: https://www.alcircle.com/news/srf-ltd-s-shares-soar-1-after-inr-536-crore-gets-approved-for-its-aluminium-foil-project-104492
Based on the Shanghai Metals Market survey of 123 Chinese aluminium processing enterprises, composite PMI (Purchasing Manager’s Index) for aluminium processing industry was 43.6 per cent in December 2023, down from 47.3 per cent in November.
To know more: https://www.alcircle.com/news/chinas-aluminium-processing-pmi-contracted-in-december-2023-104488
Constellium, a global leader in developing innovative, value-added aluminium products, will be showcasing its latest aluminium automotive structures at CES 2024 in Las Vegas from January 9 to 12.
To know more: https://www.alcircle.com/news/constellium-braces-up-to-display-its-flagship-aluminium-products-at-the-ces-2024-104525
According to the Algerian ambassador to Malaysia, Abdelhafid Bounour, Lion Group plans to invest around US$ 6 billion (RM27.5 billion) in Algeria in alliance with Algeria's strategic vision of becoming the gateway to Africa and beyond. Lion Group is a Malaysian conglomerate that operates in various industries such as retail, property development, mining, steel, aluminium, agriculture and services.
According to a report on January 4, 2024, Henan Mintai Aluminum Industrial successfully sold 106,200 tonnes of aluminium sheet with foil in December 2023. The news came after the company said in a Thursday disclosure.
To know more: https://www.alcircle.com/news/henan-mingtai-aluminum-sells106200-tonnes-of-aluminium-sheet-with-foil-104521
Experience the premier aluminium conference of the year as we launch into 2024. Be a part of the gathering from January 28-30 in Scottsdale, Arizona, where the aluminium industry convenes – bringing together end-users, producers, extruders, die casters, secondary market operators, transporters, associations, and other key stakeholders to delve into the most pertinent issues shaping the market.
To know more: https://www.alcircle.com/press-release/scottsdale-all-set-to-host-the-s-p-global-commodity-insights-aluminium-symposium-104483
Park-Ohio Holdings Corp., an international company providing strategic services and products that allow the world’s leading manufacturers to streamline their manufacturing processes, announced on January 3 that it completed the sale of its aluminium products business, effective December 29, 2023.
To know more: https://www.alcircle.com/news/park-ohio-holdings-sells-off-its-aluminium-products-business-104513
China's Ministry of Science and Technology declared the approval of the "new ultra-high strength and toughness fatigue and damage resistance aviation aluminium alloy sheet key technology" project, which the Chinalco Materials Institute led.
The Ministries of Mines, Steel, and the Department for Promotion of Industry and Internal Trade (DPIIT) have planned to set up an internal monitoring mechanism to ensure additional tariff-free aluminium and steel product exports to the United States.
To know more: https://www.alcircle.com/news/india-us-to-set-up-a-joint-monitoring-mechanism-to-ensure-tariff-free-aluminium-exports-104493
The Capital Market Authority (CMA) reportedly approved the initial public offering (IPO) of Altaiseer Group Talco Industrial Company, popularly known as AL Taiseer Aluminium Company or TALCO. As per the report, TALCO will list 12 million shares, which account for 30 per cent of its share capital.
To know more: https://www.alcircle.com/news/al-taiseer-aluminium-company-receives-approval-for-ipo-launch-104491
According to the Algerian ambassador to Malaysia, Abdelhafid Bounour, Lion Group plans to invest around US$ 6 billion (RM27.5 billion) in Algeria in alliance with Algeria's strategic vision of becoming the gateway to Africa and beyond. Lion Group is a Malaysian conglomerate that operates in various industries such as retail, property development, mining, steel, aluminium, agriculture and services.
Vulcanmex, based in Istanbul, Türkiye, stands out as a distinguished exporter specialising in cutting-edge machinery for the aluminium industry. The company presides over a team of experienced technical professionals committed to delivering reliable and efficient services in alignment with both national and global standards.
To know more: https://www.alcircle.com/news/vulcanmex-joins-al-biz-elevating-the-aluminium-packaging-landscape-104487
Hebei Yunai New Material Technology Co., Ltd. stands as a prominent player in the realm of graphite products, aligning its focus with the production, research, and sales of items crucial to the aluminium industry. AL Biz has performed a ground-breaking move by adding Hebei Yunai New Material to its illustrious list of over 1800 verified B2B aluminium sellers.
In September 2023, the United States aluminium plates, sheets and bars exports to Mexico amounted to 23,000 tonnes, reflecting a month-on-month downfall of 10.85 per cent, according to the US Geological Survey. The decline occurred in September following an increase of 4.45 per cent in August from 24,700 tonnes to 25,800 tonnes.
To know more: https://www.alcircle.com/news/us-aluminium-plates-sheets-and-bars-exports-to-mexico-shrink-by-5-77-in-q3-2023-104482
Rocal, a leading manufacturer of composite doors and specialist PVC-U products completed the acquisition of BDC Aluminium, a notable player in the fenestration sector. Rocal, the Brigg-based company known for its renowned brands such as Endurance Doors, Impressions Door Panels, and Rocal Extrusions, finalized the deal for an undisclosed amount.
Xingxian Economic Development Zone inks deal for 150,000 tonnes automotive aluminium profiles project
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