Key highlights from the global aluminium industry, August 2023
In August 2023, the global aluminium industry experienced some significant developments. Despite minor fluctuations, the LME aluminium price decreased slightly, while the SHFE price exhibited growth. Anticipations for the year's second half indicate an upswing in aluminium demand, with both worldwide primary aluminium production and the Chinese market displaying signs of rise.
Several companies within the worldwide aluminium industry, including those in China, have recently disclosed their financial results for the second quarter (Q2) and the first half (H1) of 2023, with many reporting either losses or declines in profits and a downward sales trend. The aluminium industry is actively pursuing strategies to minimize its carbon footprint, with major producing countries such as China, India, Russia, and the Middle East all making concerted efforts to reduce emissions in their respective aluminium sector. The key highlights from the global aluminium industry for the month follow below:
CRU has launched a new sustainability and emissions service that provides users with a comprehensive view of different commodities through a sustainable perspective. As the world prioritises sustainability, businesses face new policies and societal expectations, and this service helps them to adapt their operations to meet these requirements while remaining viable. The service covers policy developments, carbon markets, decarbonisation, energy costs, and more, aiming to provide consistent decisions within informed business strategies.
To know more: https://www.alcircle.com/news/cru-introduces-latest-protocols-for-sustainability-and-emissions-service-97746
Alcomet released its third sustainability report recently, mentioning all its green initiatives around the board. The new report encompasses the operations of 2021 and 2022, which upholds the aluminium extrusion company's prevailing standards of securing environmental, social and governance (ESG) values.
To know more: https://www.alcircle.com/news/bulgarian-aluminium-extrusion-specialist-alcomet-releases-third-sustainability-report-98981
Rio Tinto announced its operational and financial results for the first half of 2023 ended June 30, revealing the bauxite and alumina production standing at 25.6 million tonnes and 3.7 million tonnes, respectively. On a year-on-year basis, Rio’s bauxite output edged an 8 per cent downfall as Weipa operations were affected by higher-than-average rainfall during the wet season, resulting in reduced pit access and longer haul distances. Production was further impacted by equipment downtime at both Weipa and Gove.
Hydro Alunorte has signed a wind power purchase agreement (PPA) in addition to using solar energy for aluminium manufacturing, which aims to bolster the decarbonisation plan of the Norwegian Aluminium Company. The newly signed project is called the Ventos de São Zacarias project. Investments in renewable sources have bolstered Hydro's decarbonization plan via the Ventos de São Zacarias project. Hydro's objective of attaining NetZero in its operations by 2050 is critical, as is reducing at least 30 per cent of its worldwide emissions by 2030.
To know more: https://www.alcircle.com/news/hydro-alunorte-signs-a-new-ppa-to-bolster-its-decarbonisation-strategy-98850
The Indian multinational mining and metal company Vedanta Ltd. announced through an exchange filing that it appointed John Slaven as the Chief Executive Officer for its Aluminium Business. Slaven has been appointed to the position of Senior Management Personnel (SMP) effective October 03, 2023, for a term of 3.5 years.
To know more: https://www.alcircle.com/news/vedanta-names-john-slaven-as-the-chief-executive-officer-of-its-aluminium-business-97787
Aluminium Bahrain B.S.C. (Alba) has expanded its AA6060 alloy family by adding a new alloy, '6060.HE', aiming to extend product offerings to extruder customers. Produced in a billet form, Alba's new alloy has a faster extrusion rate that improves process efficiency and productivity for its users.
Montana Tech Components AG, established in 2006, with headquarters in Reinach, Switzerland, is the parent company of Montana Aerospace AG, VARTA AAG and Aluflexpack AG. Montana Aerospace, headquartered in Switzerland, has acquired quite a good name for its business in recent years. This counterpart of Montana Tech Components is an expert in creating structural aluminium parts for the aerospace industry.
Novelis Inc. announced the first quarter results of the financial year 2023-24 ended June 30, reporting a 19.61 per cent decline in net sales year-on-year from $5,089 million to $4,091 million, driven by lower average aluminium prices and reduced flat rolled products shipments, although offset by favourable product mix. As per Novelis’ report, the company’s aluminium flat rolled products shipments stood at 879,000 tonnes in Q1 FY2024, down by 9 per cent Y-o-Y due to decreased beverage can shipments and a little faded demand for value-added products required in the building & construction sector.
Aluflexpack, a Swiss-based developer and manufacturer of premium, flexible packaging solutions using aluminium, announced that it is nearing the end of a €70 million euro ($77 million) investment in expanding and modernising its production facility in Drniš, southern Croatia. The investment includes the construction of an additional 13,000 square metres of production areas and the installation of the most modern lines for aluminium processing and refinement.
To know more: https://www.alcircle.com/news/aluflexpack-invests-70-million-to-expands-its-aluminium-processing-facility-in-drnis-97823
A non-ferrous metal recycler from the UK, Romco Metal, has introduced the latest premium quality low-carbon aluminium, PureCycle™, to the global metal market. PureCycle™ ingots are made of 100% post-consumer scrap material. Romco's process has an ultra-low carbon footprint, with emissions up to 95% less than the average primary aluminium ingot. This means that the process emits only 0.68 tonnes of CO2 per tonne, compared to the 15 tonnes of CO2 emitted by the average primary ingot. Additionally, Romco is successfully diverting up to 7.62m³ of waste per metric tonne from ending up in a landfill.
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