AlCircle News Edited By "Rupankar Majumder"
A professional with a technical background, specialising in producing insightful content centred around metals, particularly aluminium, passionately engaged in the intricacies of the recycling sector.
Visakhapatnam Port Authority sets new records in May'24; Bauxite unloading peaks by three vessels
The Visakhapatnam Port Authority (VPA) has proudly announced a record-breaking performance in May 2024, marking a historic achievement in its 90-year history. This remarkable feat is a testament to the collaborative efforts of VPA and its trading partners. Visakhapatnam Port is one of twelve major working ports in India and the only major port of Andhra Pradesh. By volume of cargo handled, it is India's third-largest state-owned port and the largest on the Eastern Coast. VPA achieved its highest cargo handling volume in May, managing 85,81,927 tonnes of cargo across 221 vessels. This impressive figure surpasses the previous record of 76,22,732 tonnes from 201 vessels in March 2024. A key contributor to this milestone was the discharge of coal and coke in bulk, which reached 22,35,981...
South Korea's manufacturing sector sees fastest growth in two years; Aluminium prices drive up costs
South Korea's factory activity saw its most significant expansion in two years this May, driven by robust growth in both output and orders, fuelled by increasing global demand. According to the latest private-sector survey, the purchasing managers index (PMI) for the manufacturing sector in Asia's fourth-largest economy, compiled by a world-renowned commodity insights firm, surged to a seasonally adjusted 51.6 in May. This marks a substantial rise from April's 49.4, signalling a noteworthy uptick in industrial performance. This was the highest reading since May 2022, following two consecutive months below the 50-mark that distinguishes expansion from contraction. According to the survey, output surged at the fastest pace since July 2021, while new orders saw their largest increase since...
RHB Research predicts positive outlook for LB Aluminium
RHB Retail Research has indicated that LB Aluminium Bhd, headquartered in Malaysia, has grown to be one of Asia's largest aluminium extrusion manufacturers and is on track for an upward trajectory after rebounding from its support level. The stock is on track for an upward trajectory after rebounding from its support level. On May 30, 2024, the stock approached the immediate resistance of 59.5 sen, forming a 'White Marubozu' bullish candlestick. In their May 31, 2024, trading update, the research firm noted that a breakout above this resistance could trigger bullish momentum, potentially pushing the stock higher to the 61.5 sen resistance, with the next target at 65 sen. Conversely, RHB Retail Research warned that a dip below the 56 sen support level would reverse this momentum, leading...
Gränges expands strategic alliance with SIG to enhance electrification growth in Asia
In a significant move to solidify its position in Asia's burgeoning electrification market, a global leader in aluminium rolling and recycling in selected niches, Gränges has announced extending its long-term strategic partnership with Shandong Innovation Group (SIG). This collaboration aims to enhance Gränges' competitiveness and expand its market share in the region, which is rapidly becoming the global leader in electric vehicle and electrification applications. Gränges has witnessed robust growth in demand for its high-quality, sustainable electrification solutions across Asia. The company's portfolio includes advanced battery casings, battery foil, cooling plates, and other essential components for electric vehicles. The extended partnership with SIG is expected to leverage this...
20-year renewable energy deal keeps Tiwai Point aluminium smelter competitive
New Zealand Aluminium Smelters (NZAS) has secured the future of the Tiwai Point smelter with new 20-year electricity agreements. These arrangements ensure the smelter's ability to competitively produce high-purity, low-carbon aluminium powered by a diverse mix of renewable energy sources from New Zealand's South Island. NZAS owns and operates the Tiwai Point smelter and has entered into contracts with electricity generators Meridian Energy, Contact Energy, and Mercury NZ. These agreements establish the pricing for 572 megawatts (MW) of electricity, sufficient to meet the smelter's entire energy requirements. Subject to regulatory approvals and other conditions, these contracts are expected to commence in July 2024 and extend until at least 2044. Jérôme Pécresse, the CEO of Rio Tinto...
ABx Group unveils its first-ever ESG report, supported by Socialsuite
The high-tech Australian company ABx Group, which delivers materials for a cleaner future, has announced the publication of its baseline Environmental, Social, and Governance (ESG) report, prepared with assistance from Socialsuite. Socialsuite is a global leader in impact technology. Founded in 2014 in Melbourne, it has offices in Australia, the United States, and Canada. Socialsuite’s purpose is to help organisations show the change they are making. Socialsuite develops and provides technology solutions to measure and manage social impact and ESG reporting . Dr Mark Cooksey, the MD and CEO of ABx Group, said, "I am pleased to introduce ABx's first ESG disclosure report, an important milestone on our pathway to improving our ESG metrics." "As part of our purpose of 'delivering materials...
"Sustainability is a question of commitment for us", HAI
Hammerer Aluminium Industries (HAI), a leading supplier of high-quality aluminium products, has set its sights on becoming the industry's most dynamic and sustainable provider. The company is committing to sustainable corporate management, emphasising aluminium recycling, green sourcing, green energy, and environmentally friendly processes. This strategic move underscores HAI's dedication to environmental responsibility and innovation in the aluminium sector. HAI is dedicated to achieving climate neutrality by 2050, aligning with the Science-Based Targets initiative. This commitment involves reducing emissions by the latest scientific research, aiming to limit global warming to a maximum of 1.5°C. By setting these specific, science-based emissions targets, HAI continues to lead the...
Financial obstacles push Russian commodities firms to use Crypto with Chinese counterparts
Russian commodities firms, grappling with the challenges of executing financial transactions with their Chinese counterparts, have turned to a new opportunity for a solution - stablecoins, as reported by Bloomberg. A stablecoin is a cryptocurrency that maintains a fixed value by being linked to a stable asset. Unlike typical cryptocurrencies, stablecoins are pegged to assets like fiat currencies, such as the U.S. dollar or the Euro, and can be traded on exchanges. This innovative approach is helping to bypass traditional financial hurdles, marking a significant shift in how international trade is conducted. Stablecoins, digital currencies pegged to stable assets, offer a reliable alternative, ensuring seamless and secure transactions in the increasingly complex global market. As these...
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...
Aluminium prices to stabilise at $2,400, Hindalco predicts
Hindalco Industries has reported impressive performance metrics for the January to March 2024 quarter, showcasing strong margins and volumes across its aluminium and copper business segments. The company's aluminium upstream earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged 24 per cent year-on-year, reaching INR 2,709 crores. This achievement is underscored by an industry-leading EBITDA margin of 32 per cent, a notable feat considering the significant rise in aluminium prices. Managing Director Satish Pai's strategic foresight shines through amid the current market volatility. He remains optimistic about the future, anticipating that aluminium prices will stabilise around $2,400 per tonne, as reported by CNBC-TV18. As of May 24, aluminium was priced at $2,598...
US tariff strategy on Chinese imports may inspire similar measures worldwide, CareEdge reports
In a bold move to protect domestic industries, the United States recently imposed substantial tariffs on a wide range of imports from China. This decisive action has sent ripples through the global trade landscape, prompting other nations to consider similar protective measures. CareEdge Ratings, a credit rating agency, has weighed in on the potential consequences of this policy shift. The agency believes there may be a growing likelihood that other countries may adopt high tariffs on imports as a strategy to shield their economies. If this trend gains traction, it could significantly alter international trade dynamics and reshape economic relationships worldwide. The US decision to raise tariffs is rooted in a broader strategy to address trade imbalances and bolster domestic...
Material recovery initiative: Mercedes-Benz teams up with TSR Recycling for circular solutions
In a recent development, Mercedes-Benz has entered into a memorandum of understanding (MoU) with TSR Recycling GmbH & Co. KG, signalling a significant stride towards bolstering its circularity strategy concerning end-of-life vehicles, as reported by GlobalData. This strategic partnership underscores Mercedes-Benz's commitment to sustainability and marks a pivotal step in its efforts to enhance recycling and reusability practices within the automotive industry. This MoU centres around the extraction of secondary materials via the concept of "urban mining." Through this pilot initiative, Mercedes-Benz anticipates delving into the European landscape to uncover the untapped potential of post-consumer materials, specifically focusing on aluminium , steel, polymers, copper, and glass....
ABB appoints Giampiero Frisio as President of Electrification, Brandon Spencer to lead Motion Business
On May 23, 2024, the technology leader in electrification and automation, ABB, announced key leadership changes effective August 1, 2024. Giampiero Frisio has been appointed the new President of the Electrification Business Area, while Brandon Spencer will assume the President of the Motion Business Area. Both Frisio and Spencer will join ABB’s Executive Committee, bringing their extensive experience and fresh perspectives to the global technology leader’s top management team. Björn Rosengren, the CEO of ABB, said, “Both Giampiero and Brandon are proven leaders with strong track records in their current roles, driving profitable growth in two of our largest Divisions. I am particularly happy that we are appointing internal candidates – this shows the strength of ABB’s pool of senior...
Western allies demand China tackle solar panel overcapacity to avert trade war
China's rapid expansion in solar panel manufacturing has been a catalyst for the global clean-energy transition. On one hand, the nation's industrial prowess has dramatically lowered the costs of solar panels, making renewable energy more accessible worldwide. This positive aspect of China's expansion should not be overlooked, as it has brought us closer to a sustainable future. However, this same expansion has led to a significant overcapacity issue, sparking concerns among international trade partners. The United States, the European Union, and their allies are now voicing serious concerns over the glut of solar panels produced by Chinese manufacturers. This surplus has disrupted global markets and prompted these nations to call on Beijing to address the overproduction problem. The...
ABB's Xiamen manufacturing site sets the benchmark for decarbonisation with smart technology integration
In a landmark move towards sustainable manufacturing, ABB's key production facility in Xiamen, China, emerged as a decarbonisation paragon. This site, which is renowned for producing low—and medium-voltage switchgear and circuit breakers on state-of-the-art production lines, has significantly reduced its annual CO 2 equivalent (CO 2 e) emissions. Leveraging advanced smart digital technology, the Xiamen facility has slashed its CO 2 e emissions by an estimated 13,400 tonnes, benchmarked against a 2022 baseline. This achievement is a testament to ABB's global Mission to Zero program, which aims to drive down carbon emissions across its operations worldwide. The Xiamen site's success highlights the potential for integrating smart technology to enhance sustainability in industrial...
Aluminium dross: 7 diverse applications beyond metal extraction
The aluminium industry has actively sought strategies and technologies to establish a closed-loop supply chain model. Aluminium smelters worldwide are committing significant efforts to minimise and recycle aluminium dross to fulfil their sustainability and environmental objectives. In the past few years, technological advancements in aluminium dross processing have greatly assisted companies in attaining these objectives. As a result, the proportion of dross sent to the landfill has recently reduced significantly. When aluminium reaches its molten state, oxidation occurs on the surface, forming a dross resembling a “skin-like” layer. This dross is then skimmed off the top surface, leaving behind the pure metal. Dross is predominantly generated in primary aluminium smelters, recycling...
Glencore, Rusal extend aluminium supply contract following fractional trade volumes
In a move to bolster their ongoing partnership, Swiss-based trading house Glencore and Russian aluminium giant Rusal have agreed to extend their long-term supply contract into next year. According to a source with direct knowledge of the matter, the volume traded under the agreement thus far has reached only a fraction of its maximum potential. The contract between Glencore and Rusal, the world's largest aluminium producer outside of China, has been renewed. This renewal ensures continued collaboration between the two industry giants and underscores the mutual benefits they derive from this partnership. Initially set to expire this year, the contract has been renewed, reflecting both parties' confidence in the future of the aluminium industry. However, this morning, when we reached an...
Alcoa proposes special terms to CITIC Group to smooth the $4 billion Alumina Ltd. deal
In a strategic manoeuvre to secure Alumina Ltd.'s $4 billion buyout, American aluminium giant Alcoa has tailored a unique arrangement for the company's second-largest shareholder, China's CITIC Group. As reported by the Australian business-focused, compact daily newspaper Australian Financial Review, this move aims to garner CITIC's backing while adhering to US banking regulations. Sources indicate that the modifications were crafted in collaboration with CITIC to safeguard the group's position if the shareholder vote favours the takeover. As of now, CITIC has yet to officially decide whether it will retain its stake in Alumina Ltd. or sell its shares in exchange for Alcoa stock. Alcoa's all-stock offer for Alumina Ltd. now includes an additional provision: issuing non-voting convertible...
