The downstream aluminium sector has shown remarkable developments in the field of expansion, product shipments, acquisition and innovation in the week gone by. A few major companies have signed new deals or announced plans of expansion or acquisition. The moves indicate a bullish aluminium market globally. The price rise in aluminium driven by China’s capacity cut announcements has already generated enthusiasm among aluminium producers and product manufacturers. Here is a look back into the top newsmakers from the last week:
China Zhongwang acquires Germany’s Aluminiumwerk Unna
{alcircleadd}Zhongwang Aluminium Deutschland GmbH, a subsidiary of China Zhongwang Holding Ltd., a manufacturer and developer of aluminium extrusion products, has acquired Aluminiumwerk Unna AG (Alunna) in August 2017. After the acquisition, Zhongwang will hold 99.72% stake in Aluminiumwerk Unna AG (Alunna).
Nalco adds new value added product to its portfolio
India’s Navaratna public sector enterprise and leading integrated aluminium producer National Aluminium Company Limited (NALCO) has expanded its value added products portfolio with the launch of AA 3105 Alloy Fan Blade stock. The superior value added rolled product can be used for a wide range of applications.
Aditya Birla Group evaluating takeover bids for Constellium NV and Aleris Corp
According to sources close to the company, Aditya Birla Group is currently looking at growing its aluminium operations overseas by evaluating possible bids for Constellium NV and Aleris Corp. The Indian billionaire Kumar Mangalam Birla is seriously evaluating such possibilities though the group hasn’t yet decided on proceeding with an offer for either of these two businesses.
EAFA reports continued progress in aluminium foil delivery in the first half of 2017
According to a recent press release from European Aluminium Foil Association (EAFA), aluminium foil deliveries for the period April to June 2017 remains flat YoY. Total domestic deliveries of all gauges increased only 0.2% in comparison to the same period of 2016, and exports dropped by 1%. The association however is optimistic about improvement in trading activities.
China downstream aluminium producers go need-based buying after SHFE prices surge
China downstream aluminium producers were found to buy aluminium ingots in a calculative manner after SHFE aluminium prices rose sharply today. On Wednesday, August 30, domestic aluminium processors, extruders and rolled product manufacturers had engaged in bargain hunting after aluminium prices in east China spot market dropped below RMB 16,000 per tonne.
Aluminium foil export by South Korea grows in H1 2017
According to data from the Korea Nonferrous Metal Association (KONMA), South Korea has increased its sales volume of aluminium foil on a yearly basis in first half of 2017. The nation’s sales, both domestic and international rose in the mentioned period.
Midhani to invest INR 1,400-cr in modernisation and expansion initiatives
Midhani, the India based public sector unit, a supplier of special materials to the strategic sectors, has taken up an INR 1,400-crore modernisation and expansion initiatives. It has already modernised various captive facilities such as the Forge Press, Ring Roll Mill, ESR, etc. during the first phase with INR 400-crore. The Union Minister of Defence and Finance Arun Jaitley inaugurated the modernised units and laid foundation for the second phase.
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