India’s renewable energy transition is gathering pace, with installed renewable power capacity surpassing 300 gigawatts (GW) in 2026, almost quadrupling over the past decade. The country has also achieved its target of sourcing 50 per cent of installed electricity capacity from non-fossil fuel sources five years ahead of schedule, strengthening its position as one of the world’s fastest-growing clean energy markets. The expansion is beginning to deliver measurable energy security benefits by reducing dependence on imported fossil fuels, while competitive renewable power costs and expanding domestic manufacturing are opening new investment opportunities. However, sustaining this momentum will require substantial improvements in electricity transmission, storage infrastructure and...
Glencore has defended its progress on the Aurukun bauxite project in Queensland, saying it has met all commitments under its licence conditions, as calls for greater scrutiny mount over its proposed sale to Rio Tinto. Queensland MP Robbie Katter, a member of the Parliamentary Primary Industries and Resources Committee, is seeking an inquiry into the deal. The reported sale value has been put at USD 250 million, though this figure has not been confirmed. Katter questioned why a multinational company should hold a public resource without developing it and then sell its interests. He said, “That resource is owned by the people of Queensland, it’s not the government’s to play around with, or for any of these global mining companies to just trade.” Explore the production, demand and...
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German luxury automobile giant Audi has constituted a 'MaterialLoop' in collaboration with 15 associates from the supply, recycling and research sectors. This project will allow Audi to introduce a closed raw material circulating loop along the automobile industry. Audi is ready to collect the post-consumer materials from its cars after they are scrapped to construct new flagship vehicles. After eulogising Audi's protocol for a circular economy, the project went on to identify specific incantations on how a circular economy can be activated and run smoothly. To this date, a minimal amount of interest has been spent on upcycling the materials used in old, end-of-life cars. Therefore, the metal extracted from these vehicles, such as steel, ends up as a structural material for construction...
America's renowned aluminium smelter, Century Aluminium, supported President Biden's decision to levy a 200 per cent ancillary tariff on imported aluminium from Russia during last week's break. The President and CEO of Century Aluminium, Jesse Gary, clarified his preference with a supportive statement. The CEO could not refrain from praising the Biden administration openly in the press release adhering to the matter. "Thank you to the Biden Administration for inviting Century to the White House on this important occasion. As we have stated before, Century Aluminum fully supports the Biden administration's efforts to decarbonise industrial production through innovation," Gary spoke. He then went on to signify the utility of an independent, robust, plus domestic aluminium industry operating...
According to Marubeni Corp, a major Japanese integrated trading and investment business conglomerate, global aluminium producers have mutually agreed to propose $125-145 per tonne of premiums to Japanese buyers for the second quarter of 2023. The news came on March 6 after five sources directly involved in quarterly pricing talks said. Compared to the premiums agreed upon in the last quarter, proposed premiums for Q2 stand 45-71 per cent higher than $85 per tonne. If Japanese buyers accept the new offer, the premiums will mark the first increase in six quarters and the highest since October-December quarter in 2022. Global aluminium producers have offered such high premiums considering the possible demand hike from automakers. Japan is Asia's biggest importer of aluminium and the premiums...
On Wednesday, March 1, 2023, the Aluminium Stewardship Initiative (ASI) announced that it welcomed Shandong Yuhang Special Alloy Equipment Co., Ltd as the new Production and Transformation member. Handian Village in Zouping city is home to Shandong Yuhang special alloy equipment Co., Ltd., established in August 2011. With a registered capital of RMB 571 million, fixed assets worth RMB 2.5 billion, and a total area of 268800 m2 each year, it manufactures and processes 10000 tonnes of deep-processing goods for aluminium alloy, 250000 tonnes of ingots, and 150000 tonnes of industrial profiles made of aluminium alloy. The business has yearly revenues of around 3 billion yuan. "We hope to expand the global market and meet the high standards of the global aluminium industry. After becoming a...
Senior private sector executives and labour leaders were brought together by the White House on Friday, March 4, for a roundtable discussion on industrial innovation, decarbonization, and how America must take the initiative in expanding the world's clean energy economy. Eivind Kallevik, executive vice president, attended from Hydro. The debate was on how the new Inflation Reduction Act and Bipartisan Infrastructure Bill initiatives, including tax credits, grants, and loans, may speed up industrial decarbonization and strengthen American competitiveness while generating high-paying employment. "Hydro has made a significant investment in carbon capture company Verdox, a startup launched here in the United States from Massachusetts Institute of Technology (MIT), and we recently announced a...
In December 2022, the United States aluminium plates, sheets and bars exports stood at 55,200 tonnes, down by 13.88 per cent or 8,900 tonnes month-on-month from 64,100 tonnes, according to the US Geological Survey data. However, on a year-on-year calculation, the export volume edged 26.63 per cent or 14,700 tonnes higher than 40,500 tonnes. In the fourth quarter of the year, the United States aluminium flat rolled products exports totalled 180,600 tonnes, significantly up by 47.67 per cent from 122,300 tonnes in Q3 2022. That brought the country’s total exports in the second half of the year to 302,900 tonnes. From January to December 2022, the United States exported 736,000 tonnes of aluminium plates, sheets and bars versus 626,000 tonnes in 2021. Canada was the higher consumer of the...
Goyal Aluminiums Ltd. has declared venturing into the electric vehicle sector via its recently materialised organisation, Wroley E India. As indicated in an exchange filing, the company will formulate electric and mild-speed range scooters for the Indian two-wheeler industry. Shri Ram Finance was crucial in the financing lent to Wroley E India as buyers can now opt for instalments and financial aids to own the electric scooter, which can be paid on a monthly basis. The company also mentioned in an official speech that the decision is in alignment with the Indian Government's sustainability programme, better known as 'Clean India and Green India'. "This will make it easier for customers to choose e-scooters over existing fuel-mechanic vehicles in the two-wheeler segment," the statement...
The average alumina spot price in China has started the week on Monday, March 6, with a drop of RMB 5 per tonne (US$0.73/t) to stand at RMB 2,936 per tonne (US$425.81/t), found the Shanghai Metals Market. In Guangxi, the alumina price has decreased by RMB 20 per tonne (US$2.9/t) to peg at RMB 2,835 per tonne (US$411.16/t), while in all other provinces stood restrained. According to SMM survey, the Australian alumina spot price has shed off US$3 per tonne to amount to US$366 per tonne as of March 6, 2023. A00 aluminium ingot price has shrunk by RMB 80 per tonne after three consecutive hikes last week. According to SMM, the primary aluminium ingot price has amounted to RMB 18,470 per tonne as of March 6, down by RMB 140 per tonne from RMB 18,330 per tonne a week ago . On a month-on-month...
LME aluminium opened at US$2,398 per tonne last Friday and closed at US$2,393.5 per tonne, down US$6 per tonne or 0.25 per cent. On March 3, Friday, the LME aluminium cash bid price stooped down by US$4.50 per tonne or 0.19 per cent to close at US$2,361 per tonne and the LME aluminium official settlement price shed US$5 per tonne or 0.21 per cent to stop at US$2,361.50 per tonne. Though the European market is under a lot of pressure due to the spiked prices, the Chinese authority is keen on handling the issue with much finesse. The 3-month bid price plunged by US$7 per tonne or 0.29 per cent to halt at US$2,403 per tonne and the 3-month offer price witnessed a similar price loss, officially closing at US$2,404 per tonne. December 24 bid price and December 24 offer price have remained...
Colonel Mamadi Doumbouya, leader of Guinea's military junta, has offered the mining minister another two weeks to meet with bauxite miners and discuss alumina refinery construction plans, according to a report by Bloomberg. On March 4, 2023, the government of Guinea emailed that the mining companies must also submit their feasibility studies. Guinea has one of the world's largest reserves of bauxite, and it is of metallurgical grade as well. In order to expand its economy, the West African nation's government is trying to force bauxite exporters to build more refining capacity in the country. Guinea Alumina Corporation, a unit of Emirates Global Aluminum, Societe Miniere de Boke, and China's State Power Investment Corporation are among the companies due to submit their plans. After the...
The Xiaomi Electric Scooter 4 Ultra, introduced at the MWC 2023 and will provide riders with many perks, is a recent illustration of this trend and a great option for dependable and efficient transportation. Tubex, a German maker of aluminium tubes with more than 70 years of experience, became amongst the first 50 packaging businesses globally to have SBTi approve the short-term emissions reduction objectives of Tubex. PGA Tour's annual golf event, The Players Championship, will include aluminium Sawgrass Splash Cup this year, which spectators may keep as a memento or recycle. American Canning, located in Texas, and Aluminium Toyo Ultimate Can (aTULC) are planning to deliver a new can liner to the US craft brewery market. On February 28, OnePlus announced that the OnePlus Ace 2V, a new...
Aluminium has become a metal of choice in the building and construction sector for its intrinsic properties like lightweight and corrosion resistance. The metal is commonly used for wall panels and roofing solutions like finished roofs and domed structures, drains, fenestration casings and decorative purposes. Since aluminium can be extruded, rolled or cast to form commonly used products in the construction industry, its applications are exponentially growing each year. Furthermore, the metal can be customised based on design needs through die-casting processes or machine treated on existing profiles. In 2022, the building and construction sector accounted for 57 per cent of the aluminium extrusion usage worldwide, as per the data published in our Global Aluminium Industry Outlook 2023 ....
On February 24, 2023, the Joe Biden Administration slapped a 200 per cent duty on imports of Russian aluminium. According to the Aluminium Extruder Council, this directive will cover imports of Russian aluminium extrusion. Next.e.GO Mobile (e.Go) and Trafigura signed a memorandum of understanding (MOU) to establish a long-term supply chain management service agreement focusing on the supply of aluminium and battery metals like lithium, cobalt, and copper. Fonnov Aluminium, a high-quality aluminium extrusion firm and the top professional extrusion manufacturer in China, added a new product to its line of specially made aluminium extrusion products intended to improve the efficiency of hydrogen fuel cars. On February 28, Hydro finally acquired Hueck after receiving clearance from the German...
In reaction to the escalating geopolitics between the United States and Russia, the administration of the world's largest economy said on February 24, 2023, that starting on March 10, 2023, it would impose a 200 per cent import duty on aluminium and derivatives made in Russia. The London Metal Exchange (LME) reported that it would immediately stop issuing warrants for aluminium metal with a Russian provenance from the exchange's storage facilities in the US. On the other hand, Rio Tinto issued a warning that the globe is having difficulty developing renewable energy sources quickly enough to replace fossil fuels and at the necessary scale to meet aggressive emissions objectives. Hydro, one of the leading Norwegian aluminium companies, developed a groundbreaking technology called HalZero,...
According to the Shanghai Metals Market, social inventories of primary aluminium totalled 1.269 million tonnes across eight major consumption areas in China, including SHFE warrants, as of Thursday, March 2, 2023. Compared to a week ago, February 23, the inventories have accumulated 21,000 tonnes this week but stand almost muted as against 1.268 million tonnes on Monday, February 27. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi, primary aluminium inventories gained the highest this week, with the end of the inflow controls. SMM survey showed inventories in Gongyi increased by 10,000 tonnes to stand at 258,000 tonnes on March 2. In Wuxi, primary aluminium inventories climbed 8,000 tonnes over a week to rest at 447,000...
The Slovenian aluminium company Talum will shut down its remaining aluminium electrolytic furnaces in April. Talum plans to shut down its remaining aluminium electrolytic furnaces in April after nearly 60 years of producing primary aluminium. The Kidričevo-based company has recently switched to aluminium processing and other more lucrative activities. The rapid rise of energy prices forced the Slovenian producer Talum to cut its primary aluminium production to around 20 per cent of its capacity in 2022. Electricity prices in Europe have increased tenfold since the beginning of 2021. Primary aluminium production is highly energy intensive, making production at some sites unviable. The Slovenian aluminium producer ranked among the top 10 exporters in the nation and has been producing 50,000...
On March 2nd, 2023, the former President of En+ Group and the founder of the Russian aluminium giant, Oleg Deripaska, urged the Russian government to prevent it from interfering in business and rather develop a formulaic environment established on the rule of law to allure foreign investors back to Russia's sanctions-hit economy. At an economic forum in Krasnoyarsk, the former aluminium tycoon stated that he doesn't expect a "de-escalation" of the conflict with Ukraine before mid-2025. At the same time, Western investors may not return for another decade. Deripaska said he was scathing about the business climate in an economy where the Kremlin is increasingly focused on the war effort. Still, he hoped Russia could attract investors from friendly countries that have not joined the Western...
The aluminium billet inventory decreased for four weeks in a row due to downstream processing companies receiving more orders during the customary peak season and operating at a higher capacity. As per the data, on Thursday, March 2, the inventories in China recorded a W-o-W plunge of 156,200 tonnes to stand at 24,700 tonnes, from 181,000 tonnes recorded a week ago. The figure below provides further information on the current state of aluminium billet inventories in China: The inventory in Foshan slumped by 13,000 tonnes to score at 80,100 tonnes from 93,100 tonnes recorded a week ago. As per the data, the inventory in Wuxi had fallen by 7,800 tonnes from 39,400 tonnes recorded last week to close at 31,600 tonnes on February 2. On the same day in Huzhou, the inventory had dropped by 4,000...
