The global aluminium industry’s downstream segment went on a lighter note this week. The vital news for the aluminium industry remains, Sanjeev Gupta’s GFG Alliance avoids the collapse of Liberty Aluminium Technologies with a £10 million loan repayment. On the other hand, India’s leading aluminium producer, Vedanta increases it's aluminium products prices by more than 2% w.e.f June 30. While in West Africa the Nigerian pride in aluminium profiles ‘ALEX’ declares the resignation of 3 directors from its board.
The steep rise in raw material prices is denting micro, small and medium enterprises (MSMEs) and govt. of India should entail immediately to intervene through policy decisions, said Goa State Industries Association (GSIA). Along with 170 MSME associations across India, GSIA has written to Narendra Modi, the Prime Minister of India, articulating disquiet over the unstable situation that can seed a permanent dent in the Indian MSME sector.
Constellium has expanded its partnership with Audi to supply advanced aluminium solutions for the Audi e-tron GT. Constellium provides ASI-certified aluminium Auto Body Sheet solutions for closures and inner parts and extrusion-based components for the vehicle’s front and rear Crash Management Systems.
Hindalco Industries Limited increased its aluminium products prices by INR 4,500 per tonne or 2 per cent with effect from Saturday, June 26. Hindalco’s aluminium wire rod price came in at INR 221,100 per tonne on June 26 compared to INR 216,600 per tonne on June 24. The company’s aluminium billets price grew from INR 212,600 per tonne on June 24 to INR 217,100 per tonne on June 26.
The Board of Directors of Aluminium Extrusion Industries Plc (ALEX), the Nigerian pride in aluminium profiles has announced the resignation of three Non-Executive Directors from its Board. Aluminium Extrusion Industries Plc is a leading manufacturing company in Nigeria producing and marketing extruded aluminium products.
Aluminium alloys prices in China have recorded a plunge today, on June 30, found the Shanghai Metals Market. After remaining restrained for a week, aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 100 per tonne to settle at RMB 18,200 per tonne and RMB 19,200 per tonne, respectively. Their average prices are expected to range between RMB 18,100-18,300 per tonne and RMB 19,100-19,300 per tonne.
Vedanta Limited has increased its aluminium products and aluminium ingot prices by INR 5,500 per tonne or 2.5 per cent with effect from Wednesday, June 30. With the latest rise, Vedanta’s aluminium wire rod price has come in at 222,750-230,250 per tonne compared to INR 217,250-224,750 per tonne on June 28.
To know more: https://www.alcircle.com/news/vedanta-increases-its-aluminium-products-prices-by-more-than-2-with-effect-from-june-30-67700
The British industrialist Sanjeev Gupta has made a deal to avoid the collapse of Liberty Aluminium Technologies, the key supplier to Jaguar Land Rover, the car manufacturer. As per our latest information, Gupta's GFG Alliance has repaid around £10 million in loans from Close Brothers to Liberty Aluminium Technologies (LAT), one of its UK subsidiaries.
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China increased by 1,400 tonnes from the previous week to stand at 111,200 tonnes as of Thursday, 1 July 2021. Aluminium billet outbound volume rose by 12,800 tonnes to 51,100 tonnes last week, an increase of 33.5%. The inventories are expected to drop next week, and the inventories may increase.
To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-up-by-1-400-tonnes-on-july-1-67718
Responses
