China Steel Aluminum, a subsidiary of China Steel, will invest approximately TWD 1 billion (USD 32 million) to build a smart manufacturing plant in Kaohsiung, Taiwan. The investment was among two expansion applications approved by the Invest Taiwan Office on October 1, with a combined value of TWD 1.1 billion (USD 33 million). The new facility will be located in the Xiaogang District and focus on smart manufacturing and lower-carbon production. China Steel Aluminum, Taiwan’s largest manufacturer of aluminium rolled products, produces aluminium plates, sheets, coils and foil, as well as zinc alloy and hot-dip galvanised ingots. The investment supports the company’s shift toward high-end and low-carbon aluminium materials. The plant will integrate artificial intelligence (AI), the Internet...
This week, the overseas aluminium market was generally mediocre, with limited trading activity across major markets. In South Korea, purchases were mainly small-scale restocking, with little change in prices. In Thailand, demand remained weak, and some sellers slightly lowered their offers due to shipment pressure. The market focused on Q4 MJP quarterly pricing, with Rio Tinto's latest offer further reduced, and market expectations suggested there is still room for the final settlement price to move lower. South Korea: Mediocre market, transactions mainly small-scale restocking This week, trading in the South Korean market was very subdued, with purchasing demand limited to small-scale restocking and no concentrated procurement seen. Sellers showed moderate willingness to offer, with...
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And open new horizons regarding the technological opportunities and innovative solutions in aluminium for Qatar University students. Several opportunities have arisen whereby students from the Center for Advanced Materials (CAM) at QU and other departments supported engage in performing various levels of advanced research with regard to aluminium production. One of them is the ‘Aluminium Competence Project’, where students and faculty are engaged in research that embraces the whole value-chain, including recycling. Read more about the initiatives undertaken by Qatalum, Hydro and the University, in Dr. Bensalah article published in the Qatar University Research Magazine April 2015.
Norwegian metals producer Norsk Hydro has decided to go ahead with a previously planned increase of aluminium output at its Sunndal plant by 35,000 tonnes per year, starting in the middle of 2015, the company said on Wednesday. The increase is due to "recent market developments for aluminium", Hydro added.
Aluminium Bahrain B.S.C . ( Alba ) Management and Alba Labour Union announced that they reached an agreement on the BD 20 allowance, which will be submitted to the Alba Board for approval on June 10, 2015. As part of the agreement, it was decided that the BD 20 allowance will be granted for year 2015 consistent with prior practice. It was also agreed to develop joint recommendations over the next 6 months to help the company manage cost challenges facing the aluminiumindustry. Commenting on the agreement, Alba 's Chairman of Board of Directors, Shaikh Daij Bin Salman Al Khalifa stated: "We are pleased to find common ground with the Alba Labour Union on this subject. We look forward to working with the Union and developing ideas that will sustain Alba for future generations."
Aluminium prices today rose 0.36 per cent to INR110.55 per kg in futures trade as speculators enlarged positions amid a rising trend overseas. Furthermore, increased demand at domestic spot markets influenced prices. At the Multi Commodity Exchange, aluminium for delivery in May rose 40 paise, or 0.36 per cent, to INR110.55 per kg in business turnover of 109 lots. Similarly, the metal for delivery in June traded higher by 35 paise, or 0.31 per cent, to INR112.25 per kg in 24 lots. Analysts said the rise in aluminium prices in futures trade was mostly attributed to a firming trend in the base metal pack at the London Metal Exchange (LME) as better- than-expected US new home sales and gains in Chinese industrial profits boosted the outlook for demand in the world's biggest metals consumers.
Aluminium major Hindalco Industries's fourth quarter profit may rise 18 percent year-on-year to INR 293 crore, according to a CNBC-TV18 poll. The company will announce its earnings on May 28. Aluminium major Hindalco Industries 's fourth quarter profit may rise 18 percent year-on-year to INR 293 crore, according to a CNBC-TV18 poll. The company will announce its earnings on May 28. In Q4FY14, the company had a tax credit of INR 46 crore, and exceptional loss of INR 396 crore (related to a liability of INR 324 crore under The UP Tax on Entry of Goods into Local Areas Act, 2007 and liability of INR 72 crore under The Madhya Pradesh Gramin Avsanrachna Tatha Sarak Vikas Adhiniyam). Total turnover for the quarter is seen declining 1 percent to INR 8,320 crore compared to INR 8,434.2 crore in...
Montenegrin officials may be called to testify in international courts over bankruptcy of aluminium plant Kombinat Aluminijuma Podgorica (KAP), RIA Novosti reported on Monday, citing a spokesperson for the Central European Aluminum Company (CEAC). CEAC, a subsidiary of Oleg Deripaska’s En+, managed the plant until July 2013 when Montenegrin officials initiated a bankruptcy due to debt in excess of 350 million euros. CEAC objected to the bankruptcy. The company launched arbitration proceedings in Vienna and turned to the International Centre for Settlement of Investment Disputes (ICSID) seeking some 900 million euros in damages. CEAC is expecting a trial on the merits and a final ruling by the end of 2016. The company claims that Montenegro broke the terms of an agreement on the Podgorica...
Vedanta Limited, Jharsuguda was awarded in the Challenger’s Category at the Green Manufacturing Excellence Award (GMEA) 2015 Summit in Mumbai. The prestigious national level award from M/s Frost & Sullivan on 22nd May 2015 was won by Vedanta’s Jharsuguda unit for its initiatives on Sustainable development practices. Vedanta Jharsuguda was short-listed among mega companies, for the assessment based on performance record of the year 2014-15. The nomination for the award included on site assessment, conducted by the team from Frost and Sullivan at Jharsuguda and subsequent evaluation by Executive Committee. Mr. Abhijit Pati, CEO Aluminium, Vedanta Limited, in his message congratulated the team and expressed that his surety to achieve more success in future owing to Vedanta’s committed team...
Noranda Aluminum Holding Corporation announced today that its Board of Directors has appointed Richard B. Evans to serve as the Chairman of the Company's Board of Directors. Mr. Evans has more than 40 years in the aluminum industry, having served in senior management positions at Rio Tinto, Alcan and Kaiser Aluminum & Chemical. His executive management experience encompasses engineering, operations, finance, sales and strategy. The Company also announced that the Board of Directors appointed its former Board Chairman, William H. Brooks, to serve as Chairman of the Nominating and Corporate Governance Committee. Mr. Brooks previously served as Chairman of the Board from March 2008 to May 2015. "Noranda is fortunate to have a proven, respected leader like Dick Evans to head a board that...
World Aluminium markets that showed record production numbers in the month of March 2014, depicted a marginal decline in the month of April 2015. The April month again indicated that the production trend is declining. Data estimates from International Aluminium Institute (IAI) showed that the total primary Aluminium production reached 4.73 million tonnes in the month of April 2015 from 4.77 million tonnes in the month of March 2014. On a year on year basis the production is still showing signs of improvement. The production increased 10.25% on a y-o-y basis in April 2015. Comparing it with previous month, production of Aluminium declined by 0.83%. The production of Aluminium in April 2014 was 4.29 million tonnes. China remained the major contributor to the production although the increase...
Mining spin-off South32 has received a positive response from institutional investors just weeks after the company was de-merged from its parent BHP Billiton. Brokers Jefferies and Deutsche Bank have slapped glowing recommendations on the company, which has a market value of around $10bn (£6bn). Deutsche Bank, which rates the stock as a hold, said: “The listing of South32 has created a $10bn diversified global mid-cap miner with a strong balance sheet and reasonable cash flow from what we think is a mixed asset base.” Jefferies was more bullish handing the company a buy recommendation and a price target of 145p per share. Share in South32 traded in London were down about 4pc at 112p yesterday. “All things considered, South32's financial strength and inexpensive valuation offset its asset...
Mining and minerals giant Vedanta today said it is operating its Jharsugda aluminium facility at a mere 25 per cent of installed capacity while putting the blame on state government for absence of power linkage policy and raw material crunch. The NRI-billionaire Anil Aggarwal-led company has set up one of the largest single location aluminium plants at an investment of Rs 52,000 crore. Lack of raw material linkage to run the Lanjigarh refinery and absence of a proper policy for drawing power from its own 2400 MW Independent Power Plant have affected the project, Abhijit Pati, CEO - Aluminium, Vedanta, said. Vedanta's Jharsuguda complex houses 1.75 MTPA capacity smelter, 1215 MW Captive Power Plant and 2400 MW Independent Power Plant (IPP). 1.25 MTPA smelting capacity is lying idle for...
Kazakhstan needs $3 billion to boost copper and aluminium output in Central Asian nation and seeks loans from China to build two new plants said Minister Albert Rau, Kazakh Deputy Investment and Development. ENRC Group, which delisted from the London Stock Exchange in 2013, wants to double its current aluminium out of 250,000 thousands and seeks a loan of around $2 billion for it. The company produces alumina and aluminium and also deals with iron ore although there main business is the production of ferroalloys. However they are now trying to double their aluminium capacity by launching two new production stages each with a capacity of 125,000 tons, said Rau. Kazakhstan also wants to boost processing of the metal along with the increase in production. "We are first and foremost...
The Delhi High Court on Monday asked the government to treat Bharat Aluminium Company’s (Balco) petition as its representation to it and decide whether it was to be “chosen as the succesful bidder” for a Chhattisgarh coal block within a month. Balco, a Vedanta Group firm, had challenged the government’s decision to cancel its bid, which was the highest, for Gare Palma IV/1 coal block and annulment of the tender process on the grounds of presumed cartelisation. Balco wanted the HC to declare the action of government to be arbitrary and direct allotment of the coal black in its favour. A bench of justices BD Ahmed and Sanjeev Sachdeva while directing the Centre to consider Balco’s plea within four weeks also allowed the company to file fresh petition in the event the decision went against...
Secretary of the Supreme Council of Free and Special Economic Zones Akbar Torkan announced that the council has approved the plan for the construction of an aluminum manufacturing plant in Arvand zone, in Southern Khuzestan province. "The project for the construction of an aluminum producing factory with the capacity of 4,700 tons per year…is on our agenda," Torkan, also Iran's senior presidential advisor, told FNA on Sunday. He underlined that the aluminum industry will help boost the Arvand zone's economy. In March, Torkan said Iran has paved the way for attracting more investments to the country's free trade zones through two scenarios. "There are two scenarios for attracting foreign investment to Iran's free zones; one is continuing our present moves despite the existing restrictions,...
State-owned Emirates Global Aluminium (EGA) is spending US$5.2 billion to boost capacity at its smelter in Dubai and build an alumina refinery in Abu Dhabi, a company executive said yesterday. EGA, the world’s fifth-largest aluminium producer, was formed last year with the merger of Abu Dhabi’s Emirates Aluminium (Emal) and Dubai Aluminium (Dubal). EGA is adding about 40,000 tonnes per annum to the 1 million tonnes per annum smelter at Dubal due for start-up in 2017 and it is building a 2.2 million tonnes per annum alumina refinery in Al Taweelah in Abu Dhabi set for start-up in the first quarter of 2018, said Mohammad Abdulrahman, EGA’s vice president, Emal Phase II and major projects. “To secure the raw material the decision was from the management that we need to have our own refinery...
Aluminium prices edged up by 0.45 per cent to INR 111.50 per kg in futures trade today as participants enlarged positions amid a firming trend at spot markets on strong demand. At the Multi Commodity Exchange, aluminium for delivery in May inched up by 50 paise, or 0.45 per cent, to INR 111.50 per kg in a business turnover of 291 lots. Likewise, the metal for delivery in June was trading higher by 40 paise, or 0.35 per cent, to INR 113.30 per kg in 37 lots. Marketmen said increased domestic demand from consuming industries at domestic spot market helped aluminium futures to trade higher.
Hind Aluminium Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2015, to consider and take on record the Audited Financial Results (AFR) of the Company for the year ended on March 31, 2015. Further, pursuant to SEBI (Prohibition of Insider Trading) Regulation, 1992 read with new of SEBI (Prohibition of Insider Trading) Regulation, 2015, the Trading Window in respect of dealing in the Equity Shares of the Company will remain closed for the period from May 15, 2015 to June 01, 2015 (both days inclusive).
EPA’s proposed rules threaten to dampen the aluminum industry in Kentucky which has just started coming out of trouble. Kentucky has attracted the aluminum industry because of its abundant coal and the lowest electricity bills in the country contributing 40 percent of America’s total aluminum production. However, with the EPA targeting Kentucky’s new and existing plants, it will threaten the energy-intensive aluminum industry as well. InsiderLouisville's David Serchuk reported in an article called "Aluminum: Kentucky's fast-growing stealth mega-industry" that aluminium will soon become a preferred metal for automobile parts. He also reported that the Kentucky Center for Economic Development has projected that aluminium sheet production for vehicle body will increase from 200 million...
