Downstream products weekly recap: Hindalco earns a historic profit of INR 13,730 crore in FY2022; TRA proposes to shield the UK aluminium extrusion industry from Chinese imports
The global aluminium industry’s most vital segment is the downstream part, which converts aluminium into manufacturing feedstock. Hindalco Industries Limited books a record profit for FY22, attributing to robust performance in the downstream business. According to the TRA, aluminium extrusion products are imported from China and dumped into the UK at unfair prices and injuring the industry. The acquisition of Preziss by Sandvik is aligned with the company’s strategy to grow in lightweight materials and strengthen its position in the automotive aluminium segment by building a complete product and service offering.
On Thursday, May 26, Hindalco Industries Limited reported the consolidated fourth quarter and full-year financial results for 2021-22, revealing the highest-ever profits. Its consolidated PAT peaked at a record high at INR 3,851 crore in 4QFY22, a 100 per cent growth year-on-year. In the entire year, consolidated PAT increased four-fold to INR 13,730 crore, driven by exceptional performance supported by favourable macros, strategic product mix and improved performance by the downstream business.
Sandvik signed a deal to acquire Preziss, a cutting tool and solution provider for aluminium and composite machining, specialising in high-precision drilling, reaming, milling, and tooling systems located in Spain. Sandvik will boost its portfolio in the lightweight automotive components market with the purchase of Preziss.
To know more: https://www.alcircle.com/news/sandvik-to-acquire-preziss-a-provider-of-aluminium-and-composite-machining-solutions-80513
Novelis (China) Aluminum Products Co., Ltd. reportedly bagged the ASI Performance Standard V2 (2017) Certification for its production facility in Changzhou National Hi-Tech District, Jiangsu Province, China. The plant produces high-strength and lightweight aluminium sheets for use in full structural frames, hoods, doors, fenders, and many other components.
The renowned development partner and direct supplier to the global automotive industry and a leading international systems provider for security technology, Rheinmetall jointly with its Chinese joint venture KPSNC, bagged a major order for transmission housings from a world-leading producer of electric vehicles. Millions of transmission housings will be manufactured during the six-year contract.
To know more: https://www.alcircle.com/news/rheinmetall-and-its-chinese-jv-kpsnc-win-major-order-for-transmission-housings-80502
Anderton Castings, one of the leading providers of aluminium die-cast and machined components for the automobile industry, joined Aluminium Stewardship Initiative (ASI) as its new industrial user member. Anderton manufactures aluminium components for the automotive, non-automotive and critical infrastructure industries. The company also provides engineering, design and machine services.
To know more: https://www.alcircle.com/news/anderton-castings-joins-asi-as-its-new-industrial-user-member-80507
AMAG, the leading Austrian premium supplier of high-quality cast and rolled aluminium products, opened the doors to its latest Center for Material Innovation (CMI) research centre and Smart Factory during the Long Night of Research. For the first time, citizens were allowed inside the premises and the number recorded at least 350 intrigued visitors.
Maan Aluminium, a downstream aluminium producer in India, announced its net sales of INR 129 crore for the March quarter of 2022, down by 21.55 per cent from INR 164.44 crore in the December quarter and 20.99 per cent lower than INR 163.27 crore during the same period last year. But despite the downfall in net sales, Maan Aluminium has reported a sharp quarterly increase of 108.42 per cent in net profit to INR 8.17 crore in Q4 ended March 31. On a year-on-year basis, the net profit grew 55.32 per cent from INR 5.26 crore.
Vedanta Limited continued to increase its aluminium products and aluminium ingot prices by INR 2,750 per tonne or 1 per cent, marking the fifth consecutive hike. With effect from Tuesday, May 24, Vedanta’s aluminium wire rod price grew to INR 271,750 – 279,250 per tonne from INR 269,000 – 276,500 per tonne on May 21.
To know more: https://www.alcircle.com/news/vedantas-aluminium-wire-rod-billet-prices-escalate-by-inr2750-t-with-effect-from-may-24-80523
Aluminium billet inventory in China on May 26 dropped by 6,300 tonnes or 4.61% W-o-W to a total of 130,100 tonnes. In provinces like Foshan, Nanchang and Changzhou the inventory has fallen the highest. SMM will keep a close eye on whether demand recovers and whether the destocking trend continues despite the present high aluminium prices.
To know more: https://www.alcircle.com/news/aluminium-billet-inventory-in-china-slumps-by-4-61-w-o-w-to-130-100-tonnes-80540
Manna Capital Partners, a financial advisory and wealth creation company based in Louisville, Kentucky, reportedly diversified into the aluminium can sheet roll sector. The news came on Thursday, May 26, following an announcement that Manna Capital, in alliance with the world-leading aluminium beverage packaging company, will construct and operate a state-of-the-art aluminium can sheet rolling mill and recycling centre in Los Lunas, New Mexico.
According to a report on Wednesday, May 18, the Odisha government approved a budgetary provision of INR 428.95 crore for the development of a mega aluminium park in Angul. The objective is to establish an industrial space with world-class infrastructure at a competitive price to attract entrepreneurs to build manufacturing units in the upcoming business park.
To know more: https://www.alcircle.com/news/odisha-government-approves-inr-428-95-crore-budget-for-a-mega-aluminium-park-in-angul-8047
source https://www.alcircle.com/news/downstream-products-weekly-recap-hindalco-earns-a-historic-profit-of-inr-13-730-crore-in-fy2022-tra-proposes-to-shield-the-uk-aluminium-extrusion-indu-80553
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