AlCircle News Edited By "Debanjali Sengupta"
Debanjali Sengupta is a passionate content writer with 10 years of experience in Business writing, Web Content writing, Blogging, Editing and Research. She is responsible for generating and editing content for AlCircle Newsletter and other online and offline content for enhancing the brand value and its visibility among global users.
EGA and Masdar collaborate to advance aluminium decarbonisation
Masdar, also known as Abu Dhabi Future Energy Company, is an Emirati state-owned renewable energy firm that has reportedly agreed to work with Emirates Global Aluminium (EGA), the world's largest 'premium aluminium' producer, on aluminium decarbonisation and low-carbon aluminium growth opportunities. The news came on Wednesday, April 17, after Masdar and EGA signed an alliance in the presence of His Excellency Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar. Masdar is a global leader in renewable energy. It develops and operates utility-scale renewable energy projects around the world. The alliance between Masdar and EGA will help the aluminium industry decarbonise the otherwise energy-intensive operations by using renewable energy. Commenting...
Rio Tinto’s aluminium production improves by 5% Y-o-Y in Q1 2024 as Kitimat smelter restores full capacity
On April 17, Rio Tinto, a British-Australian mining group, announced its 2024 first quarter production result, reporting improvements in both aluminium and bauxite businesses while remaining focused on energy-transition and sustainability. Rio Tinto posted that its aluminium output in Q1 2024 ended March 31 stood at 826,000 tonnes, up by 5 per cent year-on-year but down by 2 per cent quarter-on-quarter. The annual rise could be attributed to the recovery of Kitimat smelter to a full capacity. In early October 2023, Kitimat aluminium smelter regained its full capacity of production after a 17-month long interruption caused by a strike in 2021. The smelter attained its maximum production capacity of 432,000 tonnes of aluminium per year, marking the first instance of such achievement since...
Alumina spot price in China rises by RMB8/t over past week; A00 aluminium ingot price is down by RMB20/t
On Wednesday, April 17, the average alumina spot price in China has recorded an increase of RMB 3 per tonne to reach RMB 3,305 per tonne, marking the third consecutive day of rise, showed the Shanghai Metals Market data. On a week-on-week basis, the average alumina price has edged a hike of RMB 8 per tonne; while on a month-on-month calculation, the price is down by about RMB 12 per tonne or 0.36 per cent. In Shandong, Henan, and Shanxi, alumina spot price has unanimously gained RMB 5 per tonne to stand at RMB 3,265 per tonne, RMB 3,325 per tonne, and RMB 3,270 per tonne, respectively. A00 aluminium ingot price Despite the alumina price fall, A00 aluminium ingot price has shrunk by RMB 100 per tonne on the the same day to stand at RMB 20,160 per tonne. The average prices are estimated to...
LME bans Russian aluminium produced on or after April 13
The London Metal Exchange (LME) announced it would rule out stocking Russian aluminium produced on or after April 13 in its warehouses in accordance with the latest sanctions packages instigated by the US and British governments. The sanctions are designed to restrict Russian aluminium, copper, and nickel but are carefully tailored to minimise market turbulence. The LME has put restrictions on Russian metal produced on or after April 13, meaning the global exchange will allow the existing stocks to be traded, which is particularly significant for the industry since Russian metals accounted for over 90 per cent of warranted stocks at the end of March 2024. The ban on new metal deliveries to the LME and its US counterpart, the CME, will likely split the market for Russian metal, with the...
March 2024: China’s primary aluminium production grows 7.4% Y-o-Y endorsed by price rally and higher profit margins
According to data revealed by the National Bureau of Statistics (NBS), China's primary aluminium production rose 7.4 per cent Y-o-Y in March 2024 to reach 3.59 million tonnes. Output increased over the year due to boosted industry profits driven by higher metal prices because of revived demand. Escalated metal prices encouraged increased operations in some of China's major aluminium-producing provinces. Besides heavy demand, aluminium prices were also supported by concerns over supply uncertainty, exacerbated by sluggish production in the southwestern province of Yunnan, a key producing area with 6.1 million tonnes of annual production capacity. China's primary aluminium production rose in March 2024 for the first time in six months, driven by increased demand for end-user products. In...
LME aluminium price soars by US$77.5/t amidst fresh sanctions against Russian metal; SHFE price shrinks by US$61/t
LME aluminum opened at US$2,550 per tonne on April 15, with high and low at US$2,728 per tonne and US$2,535 per tonne, respectively, before closing at US$2,548.50 per tonne, up US$63.50 per tonne or 2.55 per cent. The LME aluminium benchmark price shot up over the weekend, marking a second consecutive hike, following fresh sanctions by the United States and the United Kingdom targeting Russian metals . On Friday, April 12, Washington and London prohibited metal-trading exchanges from accepting new aluminium. Both LME aluminium cash bid price and LME aluminium official settlement price soared by US$77.50 per tonne to stand at US$2,520 per tonne and US$2,520.50 per tonne, respectively, on Monday, April 15. This exponential rise over the weekend brought the LME aluminium benchmark price...
Hydro Energi solidifies renewable commitment, securing power purchase agreement with Alpiq
Hydro Energi AS has reportedly entered into a long-term power purchase agreement (PPA) with Alpiq, a Swiss energy provider. As per the contract, Hydro will secure 0.54 TWh of renewable energy from Alpiq during 2025-2033. The power purchase agreement is part of Hydro’s Nordic power portfolio, which consists of captive power production of 9.4 TWh per year and a long-term contract portfolio of around 10 TWh. Hydro has signed this contract in less than a month from signing a similar agreement with Statkraft , according to which, the latter will provide 1.28 TWh of clean energy throughout the timespan of May 2024 to 2027. Access to renewable energy enables Hydro to produce aluminium with 75 per cent less carbon footprint than the global average. This endeavour aligns seamlessly with Hydro’s...
Tianshan Aluminium posts bearish annual net profit for CY2023 despite steady growth in metal output
Tianshan Aluminium Group Co., Ltd., which produces and sells aluminium, aluminium products and materials, reported its 2023 annual report last week. The report revealed an operating income of RMB 28.975 billion, down 12.22 per cent year over year. The company’s net profit was RMB 2.205 billion during CY2023, which was also down Y-o-Y by 16.8 per cent. During the reporting period, Tianshan Aluminium’s aluminium production and operation were stable, with an annual electrolytic aluminium output of 1.165 million tonnes, marking a slight increase year-on-year. The company’s aluminium input production also exhibited steady growth during the said period. Tianshan’s alumina output was 2.119 million tonnes, significantly up by 37.6 per cent year-on-year. Its anode carbon production was 599,000...
Iran’s aluminium ingot output sees modest 1% Y-o-Y growth in FY2024 amid escalating energy restrictions
According to data revealed by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s aluminium ingot production grew by 2,834 tonnes, or 1 per cent, on an annual basis over the financial year ended March 19, 2024 (Iran’s calendar year 1402). As per the data, Iran produced 635,000 tonnes of aluminium ingot in FY2024 compared to 632,166 tonnes in FY2023. In the preceding year, Iran’s aluminium ingot production recorded an increase of 17.36 per cent Y-o-Y. In the past eleven months, Iran’s major aluminium producers, including South Aluminum Corporation (SALCO), Iranian Aluminum Company (IRALCO), Almahdi Aluminum Company, and Iran Alumina Company, collectively produced 582,200 tonnes of aluminium ingot. Hence, it can be calculated that these four...
UK and US sanctions on Russian metal propel A00 aluminium ingot prices to weekend surge in China
According to the Shanghai Metals Market data on Monday, April 15, the domestic A00 aluminium ingot price has grown for the fourth consecutive day by RMB 190 per tonne to reach RMB 20,750 per tonne, the highest in more than two years. The average prices are estimated to range between RMB 20,730 per tonne and RMB 20,770 per tonne, with spot contract to be traded at a discount price of RMB 80-40 per tonne. China’s A00 aluminium ingot price has been rising since March 28, albeit a fall for an intermittent day. Over a month, the price has soared by RMB 1,570 per tonne, and over a week, it has surged by RMB 640 per tonne. In tandem with the aluminium ingot price surge, aluminium alloy (A356) price has climbed up by RMB 200 per tonne over the weekend to stand at RMB 21,350 per tonne on April 15,...
Japan settles Q2 2024 aluminium shipment premiums at $145-148/t
Japan aluminium premiums for the April-June quarter (Q2 2024) shipments are agreed upon at $145-148 per tonne, reported six sources directly involved in pricing talks. The figures are settled lower than the initial offerings of $145-155 per tonne but record a substantial growth of $61 to 64 per cent from $90 per tonne of premiums in the first quarter of the year. The significant uptick in Q2 premiums could be attributed to demand dynamics and tight supplies of aluminium in the domestic market. Despite port inventories exceeding 300,000 tonnes, supply constraints are becoming increasingly evident. In 2023, Japan’s aluminium imports were 26 per cent less year-on-year due to sluggish domestic demand, which has now led to supply constraints. Japan’s agreed premiums for quarterly primary...
ASI recertifies Rio Tinto and Constellium against 2022 Performance Standard and Chain of Custody Standard certifications
The Aluminium Stewardship Initiative has reportedly recertified two aluminium giants – Rio Tinto and Constellium. The former is a leading global mining group and the latter is a global manufacturer of aluminium rolled products, extruded products, and structural parts. Rio Tinto has achieved recertification to ASI Performance Standard V3 for aluminium smelting at its ISAL smelter facility in Iceland and Constellium has bagged recertification to ASI Chain of Custody Standard V2 for the extrusion plant in Singen, Germany and automotive structure production sites in Gottmadingen and Dahenfeld, Germany. All recertifications undertaken after June 1, 2023, are required to be against the 2022 standards. The companies have thus successfully transitioned these certifications to the updated 2022...
Hydro’s Ardal plant deploys cutting-edge recycling tech, turning 25000 tonnes of scrap into record low-carbon aluminium
Norsk Hydro ASA, the world’s leading Norwegian aluminium and renewable energy company, has reportedly incorporated a recycling unit in its Ardal primary aluminium smelter in Norway. As per the report, the company has invested NOK 100 million in deploying a recycling technology, as an effort to increase recycling and meet the demand for low-carbon aluminium in European markets. Eivind Kallevik, Executive Vice President of Hydro Aluminium Metal, has rightly pointed out that the demand for low-carbon aluminium is increasing, particularly in the automotive industry. So, this new recycling unit of Hydro will facilitate the end-user industries with recycled aluminium and help them reduce carbon footprint in their value chain and get closer to achieving sustainability goals. The new recycling...
US aluminium plates, sheets and bars imports in January 2024 jumped close to the previous year’s level
According to the US Census Bureau survey, the United States aluminium plates, sheets and bars imports in January 2024 jumped close to the previous year’s level, reaching 98,400 tonnes. Last year, the United States aluminium plates, sheets and bars imports were 99,400 tonnes. However, from February 2023, the United States imports started dwindling, standing at 72,900 tonnes in the said month. Intermittently, the import volume grew but stood the lowest in April at 66,500 tonnes. On a month-on-month calculation, the United States aluminium plates, sheets and bars imports in January 2024 edged an increase of 12,500 tonnes or 14.55 per cent from 85,900 tonnes. Canada, China, and South Korea were the top three exporters of aluminium plates, sheets and bars to the United States. Canada exported...
Rio Tinto partners with a startup investor to drive technology innovations in the mining industry
Rio Tinto, a leading global mining group, is reportedly collaborating with a world-famous venture studio and startup investor Founders Factory to support the advancement and commercialisation of breakthrough technologies that will lead mining companies, including bauxite miners, to automation, decarbonisation, and safe mining operations. According to a report on April 9, Rio Tinto will invest A$14.4 million in global pre-seed and seed-stage startups in collaboration with Founders Factory over the next three years. The investment will go to companies focusing on decarbonisation, exploration processing, safe mine operations, and automation. Each startup will receive a cash investment and a chance to participate in a four-month accelerator programme run by Founders Factory. Founders Factory...
March 2024: Chinese alumina refineries experience 8% surge in domestic output amid upturn in production capacity
According to the Shanghai Metals Market survey, China’s metallurgical-grade alumina production amounted to 6.782 million tonnes in March 2024 (31 calendar days), reflecting a month-on-month increase of 8.3 per cent from 6.262 million tonnes and a year-on-year rise of 2.13 per cent from 6.64 million tonnes. From January to March 2024, China’s metallurgical-grade alumina production totalled 19.764 million tonnes, marking an annual growth of 3.31 per cent from 19.13 million tonnes. China’s daily average alumina output in March 2024 was 218,800 tonnes per day, up by 4,500 tonnes per day from 214,300 tonnes in March 2023. Operating capacity In the year’s first three months, China’s alumina production capacity was 100 million tonnes, while the operating capacity was 79.96 million tonnes and the...
Vedanta continues to increase its aluminium selling prices since the beginning of April; prices mark a 6% surge
Anil Agarwal-led Vedanta Limited, an Indian multinational mining company headquartered in Mumbai, published a fresh list of its aluminium selling prices, including aluminium billet and wire rod. Compared to the prices of the previous week, April 5, Vedanta’s aluminium prices rose by INR 1,750 per tonne or 0.7 percent on April 9, in line with the LME aluminium price change. Like other Indian aluminium giants, Vedanta Limited links its aluminium prices to the global benchmark price of aluminium on the London Metal Exchange. On April 9, Vedanta’s aluminium ingot price ranged between INR 234,000-254,000 per tonne versus INR 232,250-252,250 per tonne on April 5. Vedanta’s billet price came in at INR 244,500 per tonne on the same day compared to INR 242,750 per tonne last week. The latest...
China’s aluminium production exceeds 10 million tonnes in Q1 2024, with an annual output rise of 4% in March
According to the Shanghai Metals Market survey, China's aluminium production in March 2024 (31 calendar days) amounted to 3.555 million tonnes, bringing the country's total aluminium output in the year's first quarter to 10.45 million tonnes. On a month-on-month basis, China's aluminium production in March 2024 registered an increase of 6.66 per cent from 3.333 million tonnes. On an annual basis, the output edged a growth of 4.25 per cent from 3.41 million tonnes. Despite the M-o-M increase in China's aluminium production in March, the domestic daily output stood flat at 114,900 tonnes, suggesting the fact that China's aluminium smelters' daily operating rate recorded no growth in March. The share of aluminium liquid output rose by 9.6 per cent month-on-month and 1.4 per cent year-on-year...
