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THINK ALUMINIUM THINK AL CIRCLE
In the inaugural month of 2024, aluminium prices exhibited a relatively flat trend across both the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE). This observed trend aligns with predictions made by industry experts and is corroborated by AL Circle's latest industry-focused report titled "Global Aluminium Industry Outlook 2024." The report forecasts that the first half of 2024 will resemble the dynamics of the preceding year, 2023, with a more optimistic outlook anticipated in the latter part of the year.
Furthermore, the report highlights the pivotal role of the transportation sector as the primary driver of aluminium demand. It underscores the critical contribution of aluminium to the transportation industry, emphasising its significance in shaping the industry landscape throughout the year. Here are the key highlights from the global aluminium industry:
New York based Closed Loop Partners invested in Found Energy, a company located in Boston that converts aluminium scrap into hydrogen fuel. Found Energy employs a unique process wherein scrap aluminium is treated with a catalyst, activated with water, which yields multiple valuable outputs. These include energy in the form of hydrogen and steam and alumina trihydrate, a raw material crucial for aluminium production. The company's strategic partner, Closed Loop, recognizes the significance of maximising the utilisation of aluminium in both material and energy contexts. The market for alumina trihydrate, valued at over $150 million, is experiencing growth. This surge is attributed to the substance's versatility as it can serve as an energy source and a crucial input in various industrial manufacturing processes, further underlining its economic importance.
Rio Tinto's Weipa operations bounced back in a big way in 2023. Despite a slow start to the year, the mining company managed to ship 35.12 million tonnes of bauxite from Weipa, an improvement from 34.52 million tonnes in 2022. The journey wasn't without its challenges, as weather and equipment issues raised concerns during Easter. Only 7.49 million tonnes were shipped in the first quarter of the year. However, each quarter saw an increase, reaching 8.81, then 9.0, and finally 9.81 million tonnes in the last quarter of 2023.
To know more: https://www.alcircle.com/news/rio-tinto-s-weipa-operations-made-a-resilient-comeback-105694
Alcoa Corporation has announced its intention to cease production at the Kwinana Alumina Refinery in Western Australia in 2024, with the gradual shutdown commencing in the second quarter. The refinery, boasting an annual nameplate production capacity of 2.2 million tonnes, has been operating at around 80 per cent of its capacity since January 2023. Alcoa's Executive Vice President and Chief Operations Officer Matt Reed cited several factors influencing the decision to curtail the 60-year-old facility. These factors encompass the refinery's age, size, operational expenses, the current quality of bauxite, and prevailing market conditions. The curtailment plan involves a gradual workforce reduction, decreasing from approximately 800 employees at the beginning of 2024 to around 250 by the third quarter of this year, coinciding with the complete cessation of all alumina production. Specific processes will, however, persist until approximately the third quarter of 2025, at which point employee numbers will be further scaled down to about 50. The refinery and its associated residue storage facilities will remain under active management.
To know more: https://www.alcircle.com/news/alcoa-announces-plans-to-cease-production-at-its-kwinana-alumina-refinery-104567
The Shanghai Metals Market has revealed the world’s largest alumina producer’s output in December 2023, and with that comes China’s total production figure for the entire year. As per the data shown, China’s metallurgical-grade alumina output in December 2023 (31 days) stood at 6.795 million tonnes, slightly up by 0.74 per cent from 6.745 million tonnes in November and 5.7 per cent higher than 6.43 million tonnes in December 2022. However, the country’s daily average output fell month-on-month in December by 2.49 per cent, from 224,800 tonnes to 219,200 tonnes. China’s total alumina production in 2023 reached 79.8 million tonnes, leveraging the operating capacity of 80.04 million tonnes at the end of December. The installed capacity at the end of the year was 100 million tonnes.
In the intricate web of the US aluminium industry, Magnitude 7 Metals faces an uncertain future, caught in the crossfire of financial struggles and soaring energy costs. As the industry grapples with these challenges, Renew Missouri, a prominent non-profit clean energy advocate, endeavours to rescue the beleaguered smelter. Renew Missouri; a stalwart non-profit championing clean energy initiative, recently convened a meeting on December 1 to address the imminent threat to Magnitude 7 Metals. The smelter's financial viability hangs in the balance, with the possibility of closure looming by the end of 2023 if a suitable buyer remains elusive. The founder of ARG International AG, Matt Lucke, whose company purchased the smelter in 2016, declined to comment on the situation. Magnitude 7 is one of the five remaining aluminium smelters in the US, which, along with Alcoa's smelters in Massena, New York, and Warrick, Indiana, and Century Aluminium's smelters in Mt Holly, South Carolina, and Seebree, Kentucky, are facing significant challenges due to high energy costs.
In the vibrant landscape of 2024, PT Indonesia Asahan Aluminium (Persero), also called Inalum, is poised to unfurl the sails of innovation on two grand ventures. With a resounding declaration, CEO Danny Praditya has illuminated the corporate horizon, announcing the Final Investment Decision (FID) to expand an aluminium smelter nestled in the heart of Kuala Tanjung, North Sumatra. Concurrently, the symphony of progress will crescendo with the initiation of the second act in the Smelter Grade Alumina Refinery (SGAR) saga, set against the lush backdrop of Mempawah in West Kalimantan. In the unfolding chapters of progress, the aluminium smelter in Kuala Tanjung is gearing up for an impressive capacity of 600 thousand tonnes. Simultaneously, the Smelter Grade Alumina Refinery (SGAR) in Mempawah is gearing up for a substantial escalation, catapulting its annual alumina production capacity from 1 million to an impressive 3 million tonnes.
To know more: https://www.alcircle.com/news/inalum-plans-to-expand-its-kuala-tanjung-aluminium-smelter-in-2024-104577
Hydro is advancing its commitment to achieving zero CO2 emissions in aluminium production by implementing emission-free plasma technology in the Sunndal cast house. The Norwegian Government has provided soft funding for this innovative project, recognising its potential to significantly impact hard-to-abate industries globally. The traditional method of re-melting aluminium into new products involves an energy-intensive process requiring extremely high temperatures, typically reliant on fossil energy sources such as natural gas. However, Hydro is pioneering a breakthrough with new plasma technology that facilitates the electrification of this process. By harnessing renewable energy sources, the same ones powering Hydro's primary smelters, the company is poised to revolutionise aluminium re-melting, making it more sustainable and environmentally friendly. This development aligns with Hydro's broader goal of reducing its carbon footprint and promoting cleaner practices within the aluminium industry.
To know more: https://www.alcircle.com/news/hydro-pioneers-plasma-technology-to-achieve-zero-co2-emission-during-aluminium-production-104592
Maaden Rolling Company (MRC), a wholly-owned subsidiary of the Saudi Arabian Mining Company (Maaden), has recently entered into a three-year supply agreement with Lucid Motors, a prominent US electric car manufacturer. The deal, formalized during the Future Minerals Forum, involves the provision of high-quality aluminium sheets with varying specifications. This collaboration underscores Madden's commitment to actively contributing to advancing the global energy transition. MRC, a company wholly owned by Ma'aden, boasts a production capacity of 460,000 tonnes annually. Its current manufacturing portfolio includes can sheets, end and tab stock utilized in beverage can production, and auto sheets tailored for the automotive industry.
To know more: https://www.alcircle.com/news/lucid-motors-strikes-a-3-year-deal-with-mrc-for-high-quality-aluminium-sheets-105751
Austal Australasia is set to embark on an exciting maritime venture, having secured a prestigious contract to craft a cutting-edge 32-metre aluminium catamaran for Rottnest Fast Ferries, headquartered in Hillarys, Western Australia. As the company's official announcement revealed, this groundbreaking project is a collaboration with the renowned vessel designer Incat Crowther. The construction of this state-of-the-art aluminium catamaran is scheduled to kick off in the first quarter of CY2024 at Austal's Philippines shipyard. Paddy Gregg, the Chief Executive Officer of Austal Limited, expressed enthusiasm about this venture, highlighting the enduring and fruitful partnership between Austal and Incat Crowther. This collaboration has spanned multiple vessels and several decades.
Hyundai's air mobility division, Supernal, is set to launch its S-A2 electric vertical take-off and landing (eVTOL) aircraft in 2028, anticipating a surge in demand for electric aircraft in urban taxi services. The S-A2, presented at CES 2024, boasts an electricity-powered seating capacity for five. Designed by Hyundai group's Luc Donckerwolke, it embodies an "auto meets aero" aesthetic. President of Hyundai, Jaiwon Shin, a NASA veteran, leads the Supernal project, foreseeing a significant expansion of eVTOL aircraft in the future, potentially numbering in the "hundreds of thousands." Shin emphasises Hyundai's advantage in mass production, acquired from the automotive sector, as a crucial asset in meeting this anticipated demand. Supernal collaborates with Hyundai's automotive division to leverage expertise in mass production, focusing on aluminium alloy components for the aircraft's construction. This strategic approach aligns with Hyundai's vision to challenge conventional design boundaries and contribute to the future of mobility.
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