The week witnessed some major events in the global aluminium industry’s downstream segment. German aluminium precision expertise alimex GmBH joins ASI as Production & Transformation member. UK Trade Remedies Authority to investigate aluminium road wheels imports from China to decide anti-dumping duties. The major public listed banking group in Malaysia, Hong Leong expects rosy earnings prospects for Press Metal Aluminium in FY2022-23. Press Metal’s Phase 3 Samalaju expansion project is also expected to be a vital catalyst for the company’s earnings growth in FY2022-2023.
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Hindalco Industries Limited decreased its aluminium products prices with effect from Friday, October 1, a day after it increased the prices on September 30. The latest cut has brought the company’s aluminium billets price to INR 251,600 per tonne, down by INR 4,500 per tonne or 1.76 per cent from INR 256,100 per tonne on September 30.
According to the US Geological Survey (USGS), Canada imported 21,100 tonnes of plates, sheets, and bars from the United States in July 2021, showing a month-on-month reduction of 3400 tonnes or 13.87%. In June 2021, 24,500 tonnes of plates, sheets, and bars were exported to Canada, a decrease of 1.20% from 24,800 tonnes in May 2021.
To know more: https://www.alcircle.com/news/us-aluminium-plates-sheets-bars-exports-to-canada-surge-20-67-y-o-y-in-july-2021-70544
The nation on the Balkan Peninsula in South-Eastern Europe, Bosnia and Herzegovina exported 50,116 tonnes of aluminium bar rods and profiles during 2018-20 and the revenue generated from the export counted to $143.62 million.
Hong Leong Investment Bank Bhd (HLIB) has shown confidence about Press Metal Aluminium Bhd’s earnings prospects in the next 12-18 months. The bank anticipates that the Malaysia aluminium extrusion manufacturer and traders’ earnings to be buoyed by the bullish LME aluminium benchmark price trend over the next one year or more. Also, the general recovery of the aluminium market post-pandemic across most countries is expected to contribute to Press Metal’s earnings.
The only leading Bangladesh company backed with Korean technology, Nialco Alloy plans to build two new facilities to manufacture finished products to expand its business. Nialco Alloys is a 100% export-oriented company that mainly manufactures high-grade bronze and brass ingots including Phosphorus Bronze, Leaded Bronze, Aluminium Bronze, Manganese Bronze, Sand Cast Brass (SCB), High Tensile Brass (HTB), Die Cast Brass (DCB), Master Alloys, etc.
To know more: https://www.alcircle.com/press-release/bangladesh-nialco-alloys-plans-for-two-new-aluminium-finished-products-facility-70567
According to a recent report, the Trade Remedies Authority (TRA) of the United Kingdom will review aluminium road wheels imports from the People’s Republic of China. The objective is to evaluate whether anti-dumping duties are required to countervail imports to the UK or whether the domestic aluminium road wheels industry would be injured without the duties.
Leichtmetall Aluminium Giesserei Hannover GmbH has joined Aluminium Stewardship Initiative (ASI) as the new Production and Transformation member. After joining, the total number of members in ASI will become 197. Leichtmetall Aluminium Giesserei Hannover GmbH is known for discovering continuous casting in 1920, which went on to become the world standard in wrought alloys.
On 1st October 2021, BAGR Berliner Aluminiumwerk GmbH, which is operating a melting and casting plant for secondary aluminium in a traditional industrial area in the north of Berlin since 1997, announces a change in their management board. Mustafa Güngör, the well-established Managing Director of BAGR will be retiring from the organization on 31st October 2021.
The Aluminium Stewardship Initiative has announced the joining of alimex GmBH Precision to ASI as a Production & Transformation member. This brings the total number of ASI Members to 196. alimex, the inventor of the cast plate, produces aluminium cast plates that surpass the highest market standards. They also produce aluminium components using German precision expertise.
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