Downstream weekly recap: Hindalco targets to spend US$7.2 billion for aluminium business expansion; Alvance Aluminium Duffel switches to green, transports rolled products by barge
This week the global aluminium downstream segment witnessed some limited but sporadic changes, showing that the metal industry is eventually getting on track. Like, Hindalco industries planning to expand its aluminium industry following the record breaking surge in price of the metal over the next 5 years. On a different note, ALVANCE Aluminium Duffel has taken a new approach that will see it shipping aluminium rolled products by barge to the port of Antwerp. On the market side, Hindalco’s aluminium wire rod and billets prices had gone up by INR2250/t following an intermittent cut. Also, the Q3 (3QFY22) results of LB aluminium shows its net profit has declined by .58 per cent to score at RM14.79 million.
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The European leader in the manufacture and sale of aluminium rolled products for diverse industries worldwide ALVANCE Aluminium Duffel has enacted a fresh course of action which will see it transporting aluminium rolled products by barge to the port of Antwerp. The sustainable transport initiative will minimize the company’s road transport activity destined for the Port of Antwerp by 72 %, saving no less than 56,000 road kilometres per year.
To know more: https://www.alcircle.com/news/alvance-aluminium-duffel-switches-to-green-transports-rolled-products-by-barge-77950
On Tuesday, March 29, the Taloja Unit of Hindalco Industries Ltd. joined Aluminium Stewardship Initiative (ASI) as the new Production and Transformation member, raising the total count of ASI members to 218. Hindalco Taloja was launched in 1972 after being commissioned in 1971 with an installed capacity of 11,500 TPA of aluminium rolling. Currently, the capacity is assessed at 60,000 TPA.
To know more: https://www.alcircle.com/news/hindalcos-taloja-unit-joins-asi-as-its-new-production-and-transformation-member-77962
Over the next 5 years, Kumar Mangalam Birla owned Hindalco Industries Ltd. is aiming to invest up to US$7.2 billion in expanding its aluminium industry following the whooping increase in the price of aluminium due to the global supply bottlenecks and strong demand expectations. Hindalco Industries Limited, an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. With its headquarters in Mumbai, the company has an annual sale of US$15 billion and employs around 20,000 people.
To know more: https://www.alcircle.com/news/hindalco-targets-to-spend-us7-2-billion-for-aluminium-business-expansion-77979
The Aluminium Stewardship Initiative has announced the joining of Nedal Aluminium BV as its new Production and Transformation member, which brings the total number of ASI members to 220. Based in the Netherlands, Nedal Aluminium develops, produces and sells aluminium profiles and lighting columns.
The Bengaluru, India headquartered, a high precision component producer, Sansera Engineering is in the vicinity to bag its first order from BMW Motorrad worth around INR 300-400 crore towards the supply of aluminium forging components, according to the industry experts. However, the deal from the motorcycle brand BMW will be a testament to the organization’s capability to produce small aluminium forged components and probable support it secures more high-value orders from other promising global customers.
On Thursday, March 31, China’s aluminium billet inventory had plunged by 7,900 tonnes or 4.67 per cent W-o-W across five major regions to total at 157,500 tonnes, found the Shanghai Metals Market. Under the effect of the pandemic, trades in the spot aluminium billet market were slow. The inventory of aluminium billets may stop declining next week, depending on the severity and long-term viability of pandemic control efforts.
To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-plunge-by-4-67-w-o-w-due-to-covid-19-pandemic-77980
Hulamin’s operational profit for the year ending December 31, 2021, reflected an increment of 760 percent to close at R538 million from R81 million in 2020. The company's headline earnings increased to R560 million from a loss of R220 million the previous year. The company also said that headline profits per share heightened by 187 percent to 182 cents from a loss of 94 cents in 2020.
LB aluminium, one of the largest suppliers of aluminium in Malaysia, has recorded a decline in its net profit by 0.58 per cent to score at RM14.79 million for Q3 ended January 31, 2022 (3QFY22) from RM14.88 million a year earlier. According to the company's registration with Bursa Malaysia, earnings per share fell to 3.4 sen from 3.42 sen. The decline in profit was mostly due to greater tax provision and loss in its property business.
European aluminium foil rollers finished 2021 on a record high, delivering 3.9 per cent higher than in the previous year. As per the data released by the European Aluminium Foil Association (EAFA), total shipments amounted to 967,000 tonnes in 2021, an increase of 36,000 tonnes or 3.87 per cent from 931,000 tonnes a year ago, led by the recovery in domestic demand, which added 7.5 per cent across the whole year and 12.8 per cent in Q4 alone.
Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices following an intermittent cut on Saturday, March 26. With effect from Tuesday, March 29, Hindalco has grown its aluminium wire rod price by INR 2,250 per tonne to INR 324,100 per tonne. Until then, with effect from March 26, the price stood at INR 321,850 per tonne, down by INR 7,250 per tonne from INR 329,100 per tonne.
On Thursday, March 31, Josh Bunting, the President of Bunting Architectural Metals announced the construction of a new aluminium extrusion facility in Lawrence County with the help of the government Tom Wolf’s administration. Neil Weaver, the Acting Secretary of the department of commerce said that the new extrusion facility aims to create around 80 job opportunities paying 33 per cent more than the average local per capita income. For this project, Josh Bunting had received a loan of US$2.1 million from the state.
To know more: https://www.alcircle.com/news/bunting-architectural-metals-to-build-a-new-aluminium-extrusion-plant-in-lawrence-county-77989
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