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Right from Hydro signing an agreement to sell 100% of Hydro Precision Tubing Lichtervelde (HPTL) to Aurelius Group to Novelis Korea Limited plant successfully receiving the ASI Performance Standard certification, the global aluminium downstream sector has witnessed many this week.
Hydro Extrusions signed an agreement to sell 100% of Hydro Precision Tubing Lichtervelde (HPTL) to Aurelius Group as part of the significant restructuring measures taken to support performance and cash generation in Hydro Extrusions. The sale is expected to close during the third quarter of 2021.
Hydro Precision Tubing Lichtervelde is specialized in the manufacturing of welded tubes for a variety of markets, including Industrial Products and HVAC, having a plant consisted of a cast house, cold rolling mill, and four tube lines, with 185 employees.
Novelis plant in Yeongju, Korea, bagged the ASI Performance Standard certification for recycling, re-melting, and manufacturing of aluminium coil and sheet activities. The news came after Aluminium Stewardship Initiative announced that it successfully certified Novelis Korea Limited plant at Yeongju for responsible production, sourcing, and stewardship of aluminium.
The Novelis plant produces flat-rolled aluminium products serving the beverage can, food packaging, construction, and electronics markets across Asia. The plant’s recycling facility is the largest of its kind in Asia with a recycling capacity of 320,000 tonnes of aluminium annually.
Gränges has collaborated with Hydro, the Norwegian aluminium giant, to supply low-carbon and circular aluminium offerings to the automotive market. In this new collaboration, Gränges will be sourcing low-carbon primary aluminium from Hydro.
The sourcing of low-carbon primary aluminium from the Norwegian aluminium giant is considered a crucial initiative in Gränges’ strategy to reduce the carbon footprint from sourced metal inputs.
Vedanta Limited slashed its aluminium products prices by INR 7,000 per tonne or 3 per cent with effect from Friday, July 9, in line with the ongoing downtrend of the LME aluminium benchmark price since July 2. The cut brought Vedanta’s aluminium wire rod price at INR 220,250-227,750 per tonne from INR 227,250-234,750 per tonne on July 3. Aluminium billet price came in at INR 220,750 per tonne against INR 227,750 per tonne last day.
According to a report this week, the US imports of aluminium crude metal and alloys came in at 324,000 tonnes in April 2021, down 4% year-on-year from 338,000 tonnes. However, on a month-on-month calculation, imports increased by 5.19% from 308,000 tonnes. The US imported 1.12 million tonnes of crude metal and alloys in the first four months of 2021, as compared to 1.25 million tonnes a year ago.
To know more: https://www.alcircle.com/news/the-us-imports-of-crude-metal-and-alloys-down-by-4-yoy-in-april-67757
On Thursday, July 8, Rheinmetall AG announced that it is expecting to bag a significant order of aluminium pistons from a renowned international carmaker. The German defense and automotive company also said that it has already signed a letter of intent with the carmaker, and the order value is worth 22 million euros ($25.9 million) in sales volume.
As mentioned in the letter of intent, Rheinmetall will develop and produce customised aluminium pistons, together with piston ring and piston pin, destined for the four-cylinder petrol engine of a new line of passenger cars made for the North American market.
According to the Shanghai Metals Market, aluminium billet inventories built up 12,600 tonnes or 11 per cent this week on Thursday, July 8, to stand at 123,800 tonnes. SMM found that with the arrival of the traditional off-season, the demand and consumption of downstream aluminium fell, resulting in the increase in inventories.
Wuxi saw the highest rise in aluminium billet inventories this week by 5,560 tonnes to 18,240 tonnes, as of July 8.
The largest auto-components manufacturing and distribution group in India, TVS Group stated that the company is well-positioned to grasp emerging market opportunities in the rise of developments that will steer to higher aluminium usage in all types of vehicles.
The Chennai-headquartered company visions in long term that due to strict emission norms, fuel economy regulations, and adoption of alternate drivetrain technologies, the propulsion towards light-weight, which is obliged to grow, will lead to higher utilization aluminium in all vehicles.
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