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THINK ALUMINIUM THINK AL CIRCLE
The global aluminium downstream sector is gradually regaining its power following the severe crisis rooted in multiple waves of the Covid-19 pandemic. The Indian born British metal magnate Sanjeev Gupta battles to save its Belgian aluminium rolling mill from US equity firm AIP and the British firm Alucast’s £200,000 investment supports to bounce back from pandemic has created significant noise this week, whereas in the market dynamics the price and import-export demand reflects the rise and also decline.
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices on Saturday, July 10, a day soon after it sharply reduced the prices. The company grew its aluminium wire rod price by INR 2,750 per tonne to sell the product at INR 226,100 per tonne. On Friday, July 9, Hindalco’s aluminium wire rod price stood at INR 226,100 per tonne, declining by INR 7,000 per tonne or per cent from INR 230,350 per tonne.
To know more: https://www.alcircle.com/news/hindalcos-aluminium-wire-rod-price-grows-by-inr2750-t-with-effect-from-july-10-68777
The United Arab Emirates exports of crude metals and alloys to the US stood at 30,900 tonnes in April 2021, a decrease of 20% or 7,500 tonnes year-on-year, from 38,400 tonnes exported April 2020, according to the latest Mineral Industry Survey report from the US Geological Survey. On a month on month comparison, exports dropped 0.96% from 31,200 tonnes.
To know more: https://www.alcircle.com/news/uaes-exports-of-crude-metal-and-alloys-to-us-down-20-in-april-68785
Vedanta Limited has reduced its aluminium products and aluminium ingot prices with effect from Tuesday, July 13, in line with the decline in LME aluminium benchmark price on Monday, July 12. Vedanta’s aluminium wire rod price has come in at INR 220,750- 228,250 per tonne, up by INR 2,250 per tonne or 1 per cent from INR 223,000-230,500 per tonne on July 10.
Russia’s exports of crude metals and alloys to the US stood at 9,320 tonnes in April 2021, a decrease of 20.34% year-on-year. Russia had exported 11,700 tonnes to the US in April 2020, according to the latest Mineral Industry Survey report from the US Geological Survey. On a month on month comparison, exports dropped by 47% from 17,500 tonnes exported in March 2021.
According to the US Census Bureau data, the United States exported 23,900 tonnes of aluminium plates, sheets and bars to Mexico in April 2021. That was down by 10.88 per cent from 26,500 tonnes of exports in March 2021. In February 2021, the United States exported 21,800 tonnes of aluminium flat-rolled products, which was 14.84 per cent down from March and 8.79 per cent down from January 2021.
A source reports that Sanjeev Gupta is making great efforts to lay hold of its Belgian aluminium rolling mill after a US private equity firm AIP took legal action in the UK to seize control. In an attempt to do so, Gupta’s metals group GFG Alliance, which is the subject of an investigation by the UK’s Serious Fraud Office, is fighting to refinance more than $5 billion of debt since the collapse of Greensill Capital, its main lender.
To know more: https://www.alcircle.com/news/sanjeev-gupta-battles-to-save-its-belgian-aluminium-rolling-mill-from-us-equity-firm-aip-68802
The specialist in Aluminium casting, Alucast’s delivery of single-source manufacturing solution is supporting itself to bounce back from the pandemic. The Wednesbury factory of Alucast that employs around 100 people has secured new wins with major carmakers and accredits its ability to provide simulation, casting, machining and the latest testing facilities. The investment of more than £200,000 for creating a specialist Dye Penetrant offer has strengthened the business even further. This is a form of non-destructive testing used to assess structural vehicle components and other parts for cracks.
To know more: https://www.alcircle.com/news/alucasts-200-000-investment-supports-to-bounce-back-from-pandemic-68796
KPS Capital Partners (KPS) has acquired Metra Holding S.p.A. and Metra S.p.A., (collectively "Metra"). The company purchased Metra, a producer of extruded aluminium, from Highlander Partners. KPS also acquired Profile Custom Extrusions, LLC ("Profile"), a U.S. manufacturer of extruded aluminium. Both the companies will be combined to form a leading, global extruded aluminium profile platform with a presence across both Europe and North America.
On 15th July 2021, South Korea's Ministry of Industry stated that the nation's aluminium and steel sectors are expected to be counter trouble from the European Union’s carbon border tax. The announcement from the ministry came a day after the EU declared its intention to implement the Border Carbon Emissions Adjustment Mechanism (CBAM), aimed at imposing a ‘carbon price’ on imports of certain products in the country. Importers need to purchase ‘carbon certificates’ equating to the amount of carbon spent to manufacture the products. Subsequently, products with higher carbon emissions will lose their competitiveness in the European market.
To know more: https://www.alcircle.com/news/south-korean-aluminium-and-steel-industry-to-face-trouble-from-eu-s-new-carbon-policy-68827
Hindalco Industries Limited has raised its aluminium products price by INR 2,500 per tonne or more than 1%. With effect from Wednesday, 14 July 2021, aluminium billets and wire rods prices stand at INR 222,350 per tonne and INR 226,350 per tonne. That was an increase of INR 2,500 per tonne from INR 219,850 per tonne and INR 223,850 per tonne on July 13.
To know more: https://www.alcircle.com/news/hindalco-industries-aluminium-billets-price-grows-by-inr-2-500-t-with-effect-from-july-14-68819
The landlocked central European nation, Hungary recorded an export of 208,308 tonnes of aluminium plates, sheets and strips during 2018-20 and the revenue earnings accounted for from the export stood at $510.32 million. Hungary’s export of aluminium plates, sheets and strips in 2018 was registered at 47,299 tonnes and the earnings recorded was $116.83 million, whereas, in 2019, the export surged to 89,068 tonnes, demonstrated growth by 88.30% and the earnings also shot up to $218.76 million.
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China declined by 2% this week. The inventories fell by 3,000 tonnes from the previous week to 120,800 tonnes on Thursday, July 15, 2021. Aluminium billet outbound volume rose by 800 tonnes to 48,300 tonnes last week, an increase of 1.6%. The outbound volumes are expected to drop next week, and the inventories may increase.
To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-down-by-3-000-tonnes-to-120-800-tonnes-68826
According to the Shanghai Metals Market, aluminium alloys prices have closed the week on Friday, July 16, on a positive note across China. Aluminium alloy (A356) price has grown by RMB 150 per tonne to touch the mark of RMB 20,000 per tonne. The average prices are expected to range between RMB 19,950 per tonne and RMB 20,050 per tonne.
The South American nation, Uruguay imported 6651 tonnes of aluminium bar rods and profiles during 2019-20 and the foreign revenue expended for the import stood at $21.75 million. Uruguay’s import of aluminium bar rods and profiles in 2018 remained at 3230 tonnes and the expenditure occurred was $11.01 million, whereas, in 2020, the import saw marginal growth by 2.81%, as the import volume rose to 332, while the expenditure dipped to $10.74 million.
Hindalco Industries Limited has further hiked its aluminium products price. With effect from Friday, 15 July 2021, aluminium billets and wire rods prices stand at INR 224,850 per tonne and INR 228,850 per tonne, an increase of INR 2,500 per tonne from INR 222,350 per tonne and INR 226,350 per tonne on July 14.
To know more: https://www.alcircle.com/news/hindalco-industries-aluminium-wire-rods-price-inches-up-to-inr-228-850-t-68836
Alcoa Corporation expects double-digit growth in the sales of its value-added products this year based on the continued economic recovery and improved demand for aluminium across all end markets. The company forecasts an improvement in shipments across all segments. Bauxite is estimated to improve by 0.1 million dry metric tonnes to 50-51 million dry metric tonnes; alumina to increase to 14.1-14.2 million metric tonnes; and aluminium by 0.2 million metric tonnes to 2.9-3 million metric tonnes.
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