Weekly Aluminium Downstream Recap: Constellium reports 31% growth in Q2 shipments to 406,000 tonnes; Vedanta’s aluminium wire rod price mounts to INR229,000-236,500/t
Global aluminium downstream market offered us a myriad of news this week right from some of the eminent companies’ financial reports to investment update. To start with, Kaiser Aluminum Corporation reported net sales of $741 million for the second quarter 2021 compared to $276 million in the prior year period, reflecting a 184% increase in shipments and a 5% decrease in average selling price per pound.
Adjusted EBITDA stood at $59 million, up $24 million year-on-year. The company’s value added revenue increased by 82 per cent to $318 million from $175 million.
To know more: https://www.alcircle.com/news/kaiser-aluminums-adjusted-ebitda-up-by-24-million-in-the-second-quarter-of-2021-68924
Constellium published in its second quarter report that shipments stood at 406 thousand tonnes, an increase of 31% year-on-year due to higher shipments in each of our segments. Revenue increased 47% to €1.5 billion, while new income came in at €108 million compared to a net loss of €32 million. Adjusted EBITDA stood at €170 million, an increase of 110% on year.
AMAG’s revenue reflected a positive trend in the aluminium price as well as in shipment volumes. The latter grew from 203,200 tonnes to 226,100 tonnes. Comprehensively, the AMAG Group achieved a rise in revenue from €463.8 million in H1 2020 to €595.1 million in the H1 2021 (+28.3%).
Earnings before interest, tax, depreciation and amortization (EBITDA) reported a growth from €59.3 million in the first six months of the previous year to the current figure of €93.6 million. Cash flow from operating activities remained strong in the current half-year at €50.2 million.
To know more: https://www.alcircle.com/news/amag-austria-metall-ag-reports-remarkable-earnings-in-h1-2021-68962
Now coming to the investment update, Hydro has decided to install a state-of-the-art 3,000-tonne 12” indirect aluminium extrusion press line at its Cressona facility, Pennsylvania. The installation involves $48.3 million investment to meet North America’s growing transportation, distribution, and industrial market segments. The company expects the aluminium extrusion press line to be operational by late 2023.
Hydro Extrusions has decided to spend EUR 45 million in the Nenzing aluminium extrusion plant in Europe to increase the production capacity by 30%, aimed at meeting the growing demand for aluminium extrusions in the region. The plant will add a fourth extrusion line and expand mechanical processing capabilities.The new line will be operational during spring 2023.
To know more: https://www.alcircle.com/news/hydro-invests-eur-45-million-in-nenzing-aluminium-extrusion-plant-to-expand-capacity-by-30-68931
The metal baron Sanjeev Gupta owned GFG Alliance’s Chief Investment Officer and also one of the most loyal lieutenants is quitting the group, following fall out with his boss over the sale of aluminium assets.
A scion of a Danish merchant banking family, Jay Hambro, whose connections supported untroubled growth and rapid acquisition of Gupta’s splurge over the past five years, is on “gardening leave” and no longer taking an active role at the group, as confirmed by an industry professional very much familiar with the matter.
To know more: https://www.alcircle.com/news/sanjeev-guptas-loyal-lieutenant-jay-hambro-to-quit-gfg-alliance-68938
The Aluminium Stewardship Initiative has successfully welcomed GUANGZHOU KINGKEE METAL MANUFACTURE CO., LTD as a Production & Transformation member, bringing the total number of members to 180. GUANGZHOU KINGKEE METAL MANUFACTURE CO., LTD is deeply engaged in the aluminium industry for more than 20 years. It is committed to the integration of solutions for new metal materials such as high-end aluminium strips.
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China dropped by 20,600 tonnes from the previous week to 99,000 tonnes on Thursday, July 29, 2021. Inventories of aluminium billets in Foshan, Wuxi and Changzhou reduced by 4,400 tonnes, 2,760 tonnes and 4,600 tonnes, respectively.
To know more: https://www.alcircle.com/news/chinas-aluminium-billet-inventories-fall-to-99-000-tonnes-on-july-29-68959
Vedanta Limited continued to expand its aluminium ingot and aluminium product prices in line with the steady growth in the LME aluminium benchmark price. With effect from Friday, July 30, Vedanta's aluminium wire rod price came in at INR 229,000-236,500 per tonne, up by INR 3,000 per tonne from INR 226,000-233,500 per tonne on July 29. Vedanta’s aluminium billet price stood at INR 229,500 per tonne on July 30.
source https://www.alcircle.com/news/weekly-aluminium-downstream-recap-constellium-reports-31-growth-in-q2-shipments-to-406-000-tonnes-vedantas-aluminium-wire-rod-price-mounts-to-inr229-0-68977
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