Downstream products weekly recap: Jindal Aluminium plans to invest INR 150 crore; European Energy signs PPA with lightweight aluminium components maker 595 Solutions

The downstream sector of the global aluminium industry has been witnessing some amount of investment for expansion this week. Jindal aluminium stated that it will boost up capacities by around 50% primarily across the extrusions vertical. The German wind portfolio of European Energy will supply the production facilities of 595 Solutions in Germany under - the agreement which amounts to 80 gigawatt-hours annually and will span over five years.

According to a recent report, Hydro Extrusion Argentina S.A. in Pilar will be certified by Aluminium Stewardship Initiative against the Performance Standard Certification. The plant will be the first aluminium extrusion facility in the country to be certified against the ASI Performance Standard.

To know more: https://www.alcircle.com/news/hydro-extrusion-argentina-first-aluminium-extrusion-plant-to-be-certified-according-to-asi-performance-standard-75451

The largest aluminium extrusion company of India, Jindal Aluminium is considering investing INR 150 crore-odd over two years, as it counts to initiate on-stream new capacities across its two verticals i.e. extrusions and rolled products.

To know more: https://www.alcircle.com/news/indias-largest-aluminium-extruder-jindal-plans-to-invest-inr-150-crore-75462

The aluminium billet inventories in China moved up by 34,700 tonnes week-on-week across five major consumption areas. As a result, the inventories clocked at 211,600 tonnes, as of January 27. Inventories increased in each of the five major markets. Most of the rise came from inventories in Foshan and Wuxi, which increased by 14,600 tonnes and 12,600 tonnes, respectively, representing 15.48% and 33.78% week-on-week increases.

To know more: https://www.alcircle.com/news/aluminium-billet-inventory-in-china-hikes-by-36-500-tonnes-to-register-at-211-600-tonnes-75485

Hindalco Industries Limited further reduced its aluminium products and aluminium ingot prices, with effect from Tuesday, January 25, in tandem with a downfall in LME aluminium price by US$35 per tonne on January 24. The company cut its aluminium billets price by INR 2,750 per tonne from INR 277,600 per tonne to INR 274,850 per tonne.

To know more: https://www.alcircle.com/news/hindalco-further-cuts-its-aluminium-billets-and-wire-rod-prices-by-inr2750-t-with-effect-from-january-25-75469

Golkonda Aluminium Extrusions, which was formerly known as Alumeco India Extrusion Ltd has reported its standalone financial results for December 2021 quarter with an 83.87% downfall in net profit to INR 0.10 crore as against INR 0.62 crore during the existing quarter ended December 2020.

To know more: https://www.alcircle.com/news/golkonda-aluminium-extrusion-reports-84-plunge-in-net-profit-for-december-2021-quarter-75486

The developer, financer, constructor and operator of wind and solar farms as well as large-scale PtX plants European Energy has inked a power purchase agreement (PPA) with light metals components producer 595 Solutions for power from its German wind portfolio.

To know more: https://www.alcircle.com/news/european-energy-signs-ppa-with-lightweight-aluminium-components-maker-595-solutions-75459

The foundry in the German town of Soltau, G.A. Röders has announced that it is pleased to be working with other climate-conscious companies to develop the first hydrogen-powered crucible melting furnace for aluminium. Now, this aspiring project, costing a total of more than €3 million, is being supported by the Ministry of Economics and Climate Protection with funding of €1.5 million, while G.A. Röders will receive €140,000 of the amount.

To know more: https://www.alcircle.com/news/g-a-roders-secures-research-funding-for-commitment-towards-climate-protection-75489

On 25th January 2022, the ‘Board of Directors’ of SRF Limited during the meeting has approved setting up an aluminium foil manufacturing plant for an investment of INR 425 crores. SRF Limited is a multi-business chemicals conglomerate engaged in the manufacturing of industrial and speciality intermediates.

To know more: https://www.alcircle.com/news/india-srf-to-invest-inr-425-crores-for-setting-up-aluminium-foil-plant-75467

source https://www.alcircle.com/news/downstream-products-weekly-recap-jindal-aluminium-plans-to-invest-inr-150-crore-european-energy-signs-ppa-with-lightweight-aluminium-components-maker-75494