Downstream weekly recap: Capral Aluminium Chairman to retire in May; UK TRA reconsiders anti-dumping duties on Chinese aluminium extrusions
The downstream aluminium industry has created many notable headlines this week, from the retirement news of Capral Aluminium Chairman Rex Wood-Ward to UK TRA's reconsideration of anti-dumping duties on Chinese aluminium extrusions to many more.
According to a report on February 28, Capral Aluminium Chairman Rex Wood-Ward announced that he would take his retirement at the conclusion of the company's Annual General Meeting on May 8, 2024. Mr Wood-Ward will depart the board after 15+ years of association with Capral Aluminium. He joined the company in 2008 as a non-executive Director and became Chairman in 2010.
To know more: https://www.alcircle.com/news/capral-aluminium-chairman-rex-wood-ward-will-take-his-farewell-on-may-8-2024-109043
The UK Trade Remedies announced this week that it reconsidered decisions concerning anti-dumping measures on aluminium extrusion imports from China. Of the two decisions, one is related to the recommendation of anti-dumping measures on certain Chinese aluminium extrusions, and the other is the final determination of whether to include large aluminium extrusions under the duties. The authority initiated reconsideration after paying attention to a request that claimed the duties imposed on Chinese extrusion imports were not good enough for the injuries caused to the domestic industry.
To know more: https://www.alcircle.com/news/uk-tra-is-reassessing-its-original-anti-dumping-duties-on-chinese-aluminium-extrusions-109042
A report notified that Pennsylvania, the fifth-most populous state in the United States, is facing economic distress due to inflation, unemployment, and tariffs on aluminium and steel imposed since the reign of US President Donald Trump. Pennsylvania’s industry sector is heavily dependent on aluminium and steel as raw material inputs. From farming equipment to auto parts, aluminium plays a significant role in their production. Due to high tariffs, America is unable to buy aluminium products at the best price, resulting in higher prices of end-user products and lower profit margins for manufacturers.
Two prominent East Asian nations, the leaders in steel industry, are poised to make significant investments in the aluminium sector. Kobe Steel, the third-largest steelmaker in Japan, and China Baowu Steel Group, a global leader in steel production, are joining hands to establish a pioneering joint venture that would produce cutting-edge lightweight aluminium panels for electric vehicles (EVs).
To know more: https://www.alcircle.com/news/japan-china-steel-giants-team-up-for-automotive-aluminium-venture-109030
According to a report, Japan's factory activity experienced its most rapid decline in February 2024 over the past three years due to diminishing demand. The preliminary Japan Manufacturing Purchasing Managers' Index (PMI) from au Jibun Bank dropped to 47.2, down from January's 48.0, signalling ongoing contraction in private sector business operations. February marked the ninth consecutive decline in business activity, representing the most significant contraction since August 2020, as reported by au Jibun Bank.
To know more: https://www.alcircle.com/news/factory-activity-in-japan-hits-lowest-point-since-2020-economic-concerns-mount-109074
China-based Zhongchuang Co., Ltd. achieved a significant milestone by creating a domestically leading 10-tonne-class hard aluminium alloy ultra-thick plate, boasting its most comprehensive and highest strength. This forged plate, with dimensions of 4215x3040x270mm, underwent four consecutive firings to achieve its final form. Notably, it features a large, smooth surface free from folding or cracking.
This week, Hind Aluminium Industries Limited announced its consolidated quarterly results (October 1-December 31, 2023), revealing net sales of INR 0.14 crore, down 48.15 per cent year-on-year from INR 0.27 crore. But despite the fall in net sales, the company’s net profit skyrocketed by 204.98 per cent year-on-year from INR 2.01 crore to INR 6.13 crore. Earnings per share also hiked year-on-year from INR 1.95 to INR 9.73 during the said period.
A leading manufacturer of jet engines announced plans to integrate two state-of-the-art Vapor Phase Aluminizing (VPA) coating furnaces from G-M Enterprises, a Nitrex company, in the first half of 2024. This strategic move signifies a significant advancement in aerospace manufacturing and underscores an enduring partnership between the two entities. Over time, the customer has consistently relied on Nitrex vacuum furnaces across multiple locations.
To know more: https://www.alcircle.com/news/nitrex-secures-vpa-coating-furnaces-supply-deal-from-a-jet-engine-manufacturer-109052
POSCO Future M Co., a leading supplier of battery materials, commenced construction on its fifth cathode materials plant in Gwangyang, South Korea, aiming to establish a complex in South Jeolla Province as the largest manufacturing cluster for cathode materials globally in terms of capacity.
To know more: https://www.alcircle.com/news/posco-future-m-co-ventures-into-fifth-cathode-plant-for-nca-batteries-109046
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