AL Circle's weekly wrap
Thailand emerges as the second-highest importer of aluminium scrap from US, replacing India
In February 2024, there was a notable shift in the export dynamics of US aluminium scrap, according to the United States Geological Survey. Previously, India held the position of second-highest export destination until January 2024.?But?subsequently,?Thailand emerged as the second top importer of US aluminium scrap, following Malaysia.
As per the?data revealed by the US Geological Survey, Thailand's aluminium scrap imports from the US exceeded India's by 4,800 tonnes in February 2024.?
Thailand's aluminium scrap import volume in the said month was 25,700 tonnes, while?that of India?was 20,900 tonnes. Thailand's imports grew by 6,400 tonnes or 33.16 per cent month-on-month from 19,300 tonnes and increased year-on-year by 7,600 tonnes or 41.99 per cent from 18,100 tonnes.
In contrast, India's?import of aluminium scrap from the US was 20,900 tonnes in February, declining by 5,000 tonnes or 19.31 per cent from 25,900 tonnes in January. On a year-on-year calculation, the imports were further down by 10,100 tonnes or 19.31 per cent from 31,000 tonnes.?
However, India's total imports of aluminium scrap from January to February 2024 were 4.23 per cent higher than Thailand's two-month imports. In the first two months of the year, India imported 46,800 tonnes of aluminium scrap, down 22.39 per cent from 60,300 tonnes during the corresponding period of the previous year.
Thailand imported 44,900 tonnes from January to February,?which was?29.18 per cent less than 31,800 tonnes a year earlier.?
In February, Thailand accounted for 16.27?per cent?of the United States' total scrap exports, while India accounted for 13.23?per cent, making it the third-highest importer. The United States' aluminium scrap exports were 158,000 tonnes in February 2024, up by 1.94?per cent?from 155,000 tonnes in January but slightly down from 159,000 tonnes in February 2023.
In the first two months, the United States exported 313,000 tonnes of aluminium scrap, a 1.88 per cent year-on-year decline from 319,000 tonnes.
FY2024: Hindalco earns higher profit on account of record-breaking aluminium sales volume
Hindalco Industries Limited, Aditya Birla Group's flagship metal company, has announced its consolidated financial results for the fourth quarter and full year of FY2024, which ended March 31. The company?revealed that it?concluded the year with strong results across all business segments, earning a profit after tax (PAT) of INR 10,155 crore, up 1 per cent from INR 10,097 crore a year ago.?
This significant increase in profit was primarily bolstered by Hindalco’s all-time high aluminium sales volume of 1.372 million tonnes, up 2 per cent year-on-year.
Hindalco's PAT at the end of Q4 FY2024 was INR 3,174 crore,?which marked a substantial increase of 32 per cent year-on-year?from INR 2,411 crore.?
Hindalco's consolidated EBITDA in FY2024 totalled INR 25,728 crore, up 7 per cent year-on-year. EBITDA in Q4 was INR 7,201 crore – 24 per cent higher than the last year. EBITDA earned from the upstream aluminium sector in Q4 FY2024 was INR 2,709 crore,?which was also?up by 24 per cent Y-o-Y.?
Hindalco's consolidated revenue in the fourth quarter was INR 55,994 crore, flat?Y-o-Y?and up by 6?per cent Q-o-Q, on account of better realisations and volume in India operations.?From the upstream aluminium sector, the revenue generated in Q4 was INR 8,469 crore, compared to INR 8,050 crore during the same period last year.?
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Downstream revenue was INR 2,920 crore, reflecting an increase of 6.65 per cent from INR 2,738 crore a year ago. Sales of downstream aluminium were 105,000 tonnes in Q4, up 17 per cent Y-o-Y and 16 per cent sequentially from 90,000 tonnes in Q4 FY2023.?
Hindalco also reported that its US arm Novelis shipped 951,000 tonnes of flat rolled products in Q4 FY2024, up 2 per cent Y-o-Y from 936,000 tonnes, supported by stronger demand from beverage packaging. But despite the increase in shipments, Novelis' Q4 revenue stood 7 per cent down Y-o-Y at $4.1 billion, impacted by lower aluminium prices on the London Metal Exchange. Read the full news HERE.
Unlocking the potential: AL Circle launches its latest report, “A comprehensive analysis of Bauxite Residue - Red Mud”
In the realm of industrial sustainability, few challenges loom as large as the management of bauxite residue, commonly known as red mud. It's an industrial waste generated during bauxite processing into alumina using the Bayer process, which has a complex composition that poses significant environmental and economic concerns. However, amidst these challenges lies a beacon of hope: Al Circle's latest industry-focused report, "A Comprehensive Analysis of Bauxite Residue - Red Mud."
This report, meticulously developed by including various thoughts and insights of experts and environmental scientists, delves deep into the heart of the red mud dilemma. It offers a comprehensive analysis that promises to reshape the landscape of bauxite residue management. No stone is left unturned in this exhaustive exploration, from its chemical makeup to its potential applications.
At its core, the report addresses the pressing need for sustainable solutions in red mud management. With global alumina production on the rise, the volume of red mud generated continues to escalate, exacerbating concerns about its environmental impact. Through meticulous research and data-driven insights, Al Circle's report, "A Comprehensive Analysis of Bauxite Residue - Red Mud,” offers a roadmap towards a more sustainable future in which red mud becomes a resource.
One of the report's key highlights is its in-depth examination of innovative techniques for utilising red mud. Traditionally viewed as a waste product, red mud possesses inherent properties that make it a potential material for various industrial applications. From construction materials to wastewater treatment, the report explores a myriad of avenues where red mud could be repurposed, turning a liability into an asset. Explore for more details HERE.
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