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.
Hydro invests in green transitions and Norwegian aluminium smelters
Investing in Norwegian aluminium smelters will enable Hydro to take the lead in climate-efficient aluminium solutions through continued industrial development and green transition initiatives. This will extend the lifespan of the aluminium smelters and will convert the products to low-carbon aluminium for a growing market. Ola Sæter, the Head of Primary Production at Hydro, said, "We are upgrading the plants, investing in the development of the plants, and implementing new technology such as recycling, carbon capture and green hydrogen to become the world's first supplier of zero-carbon aluminium. We recently agreed with Mercedes Benz for technology collaboration and to supply our aluminium products to support their investment in making lighter, more climate-friendly electric cars." In...
Russia plans to divert metal exports from Western countries to alternative markets
The Minister of Industry and Trade of the Russian Federation, Denis Manturov, stated that due to sanctions put in place by the EU and US, Russia would reroute its metal exports from Western nations to alternate markets. The minister identified China, Turkey, Southeast Asia, Russia-led Eurasian Economic Union members, and CIS countries as priority areas for diversifying metal supplies. Manturov predicts that trade flows will concentrate on Latin American, African, and Middle Eastern markets. Manturov said during a meeting with Mikhail Mishustin, the Russian Prime Minister, that "our firms, with the assistance of trade missions, are already reorienting exports, and that the government will take steps to support logistics.” Russia being a significant metal producer and exporter, so according...
Rusal renews agreement with En+ Group subsidiary KraMZ until 2023
In a renewed contract, the Russian aluminium giant Rusal agreed to continue the supply of primary aluminium and aluminium scrap to the En+ Group subsidiary KraMZ. Rusal, one of the world's leading aluminium producers, announced that it will supply about 77,220 tonnes of the material until December 31, 2023, for an annual transaction amount of approximately $179.2 million. The world's leading low-carbon aluminium producer, Rusal requirement of more than 90 per cent of the electricity for aluminium production gets clean and renewable hydroelectric power, which enables the company to produce low-carbon footprint products. Rusal's main products are primary aluminium and aluminium-based alloys, alumina, foil, and packaging. The Company has its resource base and carries out the entire...
Meteorological incident force Metro Mining to end 2022 operating season early
The Bauxite Hills mine in Queensland ended its operating season for the year ahead of schedule due to a weather event that could have been dangerous for mining operations and shipment on December 29, 2022, according to an announcement by the Australian mining and exploration company Metro Mining. At this time of year, the company's operating season usually comes to an end. On the other hand, loading a Capesize vessel at the mining facility in the Gulf of Carpentaria in preparation for the following mining season will no longer take place as planned. Five working days were lost as a result of the weather event, and 3.41 million wet tonnes were sent in total by the end of the season, which is less than anticipated. In spite of this, Metro Mining forecasts achieving its annual sales target...
Balco bags Arogya World ‘Healthy Workplaces Awards – 2022’
The renowned Indian aluminium producer Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Aluminium, has been awarded the "Gold Award" by Arogya World in the category of "Healthy Workplaces Awards - 2022." Arogya World is a global health non-profit organization working to prevent non-communicable diseases (NCDs)—diabetes, heart disease, cancer and chronic lung diseases—through health education and lifestyle change. The honour is proof of BALCO's top-notch staff health and wellbeing procedures, which are firmly ingrained in a culture of care. BALCO is instrumental in making healthcare accessible through its 75-bed super speciality BALCO Hospital in Balconagar, Korba. The hospital has a 24X7 emergency service, an Out Patient Department, an In-Patient Department, an Intensive...
Japanese buyers agree to pay a 13% lower aluminium premium in Q1 than in Q4
On December 28, 2022, four industry experts involved in the pricing discussions informed that some Japanese aluminium buyers agreed to pay global producers a premium of $86 per tonne over the benchmark price for January-March shipments, down 13% from the current quarter. The amount is less than the $99 per tonne paid in the quarter between October and December. The premium is at its lowest level since the quarter from October to December 2020, marking the fifth consecutive quarterly reduction. The premiums set the benchmark for the region for primary metal shipments that Japan, Asia's largest importer of light metal, agrees to pay over the London Metal Exchange (LME) cash price each quarter. Our source from the Japanese trading house said, "We have done the deals at $86 a tonne with two...
Indonesian Chamber of Commerce and Industry welcomes the decision to ban bauxite export
On December 27, 2022, Arsjad Rasjid, the General Chairperson of the Indonesian Chamber of Commerce and Industry (Kadin), expressed support for the bauxite export ban, claiming that it will increase the value of the country's natural resources. Rasjid said, "The export ban on bauxite will take effect in June 2023. The policy is in accordance with the mandate of Mineral and Coal Law No. 3 of 2020." "If we only export raw materials, we are at a disadvantage. It is our right as a nation to have added value. So this measure was pursued as a result of an evaluation by the government of the previous scheme and also to encourage domestic industrialization." He added, “However, the export prohibition policy would be even better if it were supported by a detailed downstreaming road map instead of...
November 2022: Indonesia accounted as the largest alumina supplier to China; alumina export to Russia ranked highest
According to the data revealed by the General Administration of Customs of China, it has been reported that 196,000 tonnes of alumina were imported into China in November 2022, representing an increase of 24.2 per cent over the previous year and a reduction of 21.8 per cent over the previous month. Alumina shipments increased to 85,000 tonnes simultaneously, up 984.9 per cent on the year and 45.6 per cent on the month. Notably, exports to Russia increased by 54.6 per cent MoM to 80,000 tonnes, making up 93.7 per cent of all monthly exports. Between January and November, total alumina imports were 1.87 million metric tonnes, down 39.3 per cent from the previous year, and total alumina exports were 950,000 tonnes, up 719.5 per cent. The alumina import window remained closed in November in...
EU signs the world's first carbon tariff agreement; initial phase includes aluminium imports
The professed carbon border adjustment mechanism (CBAM) will safeguard the European industry from importing less expensive, more polluting goods by impersonating the domestic carbon pricing in the European Union. However, it will start with aluminium imports, among others like iron and steel, cement, fertilisers and electricity, and hydrogen. It was reached the day after the G7 industrialised nations announced that they would establish an "international climate club" to promote a sustainable industry. Pascal Canfin, the Chairman of the European Parliament's environment committee, said, "For the first time, we will ensure fair treatment for our enterprises, which pay a carbon price in Europe, and their foreign competitors, who do not." “This is a major step that will allow us to do more...
Budget proposal for 2023: Assocham strives for reduction in basic customs duty on critical raw materials for the Indian aluminium industry
The century-old Indian trade association, Associated Chambers of Commerce and Industry of India (ASSOCHAM), has lobbied for a decrease in the basic customs tax and correction of the inverted duty structure on crucial raw materials for the aluminium industry since high import charges are a big disadvantage for the sector that is largely dependent on imported raw materials. According to Assocham's pre-Budget note for 2023–2024, high import duties on raw materials make Indian finished goods more expensive and uncompetitive in global markets, providing little protection against cheaper finished product imports and inhibiting domestic value addition within the nation. The organisation representing the interests of trade and commerce in India, Assocham, said, "Indian aluminium producers have...
Croatia's Brodosplit shipyard begins constructing self-driven crewless aluminium ship
The largest shipyard in Croatia, Brodosplit, announced its initiation of building a self-propelled crewless ship focused primarily on firefighting and preventing sea pollution in maritime accidents and rescue operations. On December 22, 2022, Brodosplit stated, "The hull and superstructure will be made of shipbuilding aluminium alloy, and this project will create a functional, recognizable, and innovative product with a high technological level." However, as per the information from Brodosplit the length of the ship is 23.95 meters. It is co-financed by funds from the European Union's Research and Development budget. As a leading partner in the project, Brodosplit is collaborating with engineering company Marine and Energy Solutions DIV, shipyard Brodogradiliste Specijalnih Objekata, and...
Bauxite weekly recap: Indonesia to impose ban on bauxite exports from June 2023; Canyon receives new investor to advance the development of Minim Martap bauxite project
The bauxite segment of the global aluminium industry has witnessed some of the most crucial happenings during the last days of the year. Previously, during an economic forum, Indonesian President Joko Widodo said Indonesia would announce a ban on commodity exports without disclosing which or a timeframe for implementation. On December 20, 2022, the President announced that the country would impose a ban on bauxite exports from June 2023 onwards. On the side, the Australian Securities Exchange listed Canyon Resources receives new investors and shareholders to advance the development of the Minim Martap bauxite project. The future development prospects of the Minim-Martap project view Cameroon as the new source of high-grade bauxite supply that will feed the world’s growing demand. The...
Tesla unveils its Qi device wireless charging platform featuring aluminium housing
The American multinational automotive electric vehicle manufacturing company, Tesla, has revealed its own 'Wireless Charging Platform', a wireless charger that can charge up to three Qi devices simultaneously. According to our report, the charging mat's concept is similar to Apple's AirPower in that the three devices can be placed anywhere, each receiving up to 15 watts of power. Tesla claims that the Cybertruck served as inspiration for the charging mat's angular shape. It has an Alcantara surface, an aluminium housing, and a magnetic stand that can be detached and used for flat or angled charging. Elon Musk, owned Tesla, said, "Inspired by the angular design and metallic styling of Cybertruck, our Wireless Charging Platform provides 15W of fast charging power per device for up to three...
Gränges signs arrangements for new credit facilities and refinances existing debt
The innovative engineering company that has transformed the industry for more than 125 years, Gränges has entered two new credit facility agreements and refinanced part of the debt portfolio. A three-year term loan for USD 100 million and a three-year term loan for SEK 3,500 million are included in the original facility agreement, which Citibank, Danske Bank, Svenska Handelsbanken, and Nordea structured. The deal will be connected to Gränges' sustainability goals and has a framework that is related to sustainability. Sustainability coordinators include Danske Bank and Nordea. Under the second facility agreement, signed with AB Svensk Exportkredit, there is a term loan worth USD 40 million and a term loan worth USD 20 million, each of which has a term of 3 years. This agreement will be...
Germany's €28 billion renewable energy scheme receives EU approval, a step to eliminate GHG emissions by 2045
The German government's €28 billion ($29.69 billion) support programme for renewable energy, which aims to increase the use of wind and solar power quickly, was announced as having been approved by the European Commission. The policy, which will replace an existing renewables support scheme, will be in effect until 2026 and help Germany meet its target of producing 80 per cent of its renewable energy by 2030. According to the European Commission, the scheme was "necessary and suitable" to promote renewable energy sources and reduce emissions that contribute to global warming. Its favourable effects on the environment exceeded any potential competitive distortions. Margrethe Vestager, the Chief of EU competition policy, "The German Renewable Energy Act 2023 scheme will contribute to...
Korea’s top aluminium foil and packaging company to raise KRW115.3 billion through stock sale
On December 22, 2022, the leading aluminium foil and packaging company of South Korea, Sama Aluminium's plan to raise a total of 115.3 billion won via the issuance of 3.7 million common shares, was revealed. According to our information, the shares will be issued at a price of KRW31,050 per share. The proceeds from the stock offering will primarily be used to fund the firm's facilities. Founded in 1969, Sama Aluminium, the dominant partner in the aluminium foil and packaging materials industry of South Korea, is committed to becoming the world’s leading company with sustainability as its core value. Sama Aluminium has been continuously investing in premier technology and R&D. The company is steadily pacing towards becoming a global player through the application of state-of-the-art IT...
Malaysia's Citaglobal Bhd exits bauxite mining venture
The Malaysian construction engineering company, Citaglobal Bhd, formerly known as WZ Satu Bhd, is exiting its bauxite mining venture under SE Satu Sdn Bhd to focus on a portfolio of businesses that includes civil engineering and construction, oil and gas, power generation, property development, manufacturing, and renewable energy. During its bourse filing, the company said it would divest its 49% stake in SE Satu to Spring Energy Sdn Bhd for RM4.8 million. Citaglobal, on the other hand, plans to keep the 31.31ha of freehold agricultural land under SE Satu in Sungai Karang, Pahang, in order to develop a renewable energy generation project along the East Coast Rail Link (ECRL). As a result, Citaglobal's indirect wholly-owned Sinergi Dayang Sdn Bhd will pay SE Satu RM10.08 million for the...
Xingfa Aluminium Holdings to acquire 4% stake in Guangdong Province Trading
On December 21, 2022, the leading aluminium extrusion profile manufacturer in China, Xingfa Aluminium Holdings during filing has stated that it would acquire a 4 per cent equity interest in a Chinese service provider, Guangdong Province Trading Development, from Guangdong Guangxin Holding Group for RMB27.5 million. Guangdong Guangxin Holdings Group Ltd. is a holding company for investments. Construction materials, mining, metallurgy, chemical engineering, mechanical and electrical equipment, food supply, modern logistics, and other fields are among the areas in which the company invests. Guangdong Xingfa Aluminium Co., Ltd., is a company headquartered in Foshan, Guangdong. On March 31, 2008, Xingfa Aluminium, which began in 1984, was listed in Hong Kong. Xingfa Aluminium is a famous...
