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THINK ALUMINIUM THINK AL CIRCLE
As the eleventh month of 2023 concludes, the global aluminium industry is shrouded in the persistent gloom of low indicative prices, primarily attributed to a subdued demand environment. Notably, industry leaders have pre-emptively acknowledged that the initial stages of 2024 are likely to mirror the current downcast conditions. Factors such as economic deceleration in the Western world, inflationary pressures, elevated bank interest rates, escalating energy costs, and geopolitical crises collectively contribute to the hesitancy within the aluminium sector. Consequently, numerous corporate executives have affirmed that order placements for the year 2024 are experiencing delays amid this challenging backdrop. On a positive outlook, the primary catalyst for aluminium demand in 2024 is expected to be the transportation industry, with the electric vehicle sector playing a significant role in driving this demand. The renewable energy sector will also play a vital role in the demand generation of aluminium.
The aluminium recycling sector contributes significantly to sustainability, as industry leaders actively pursue strategies to decarbonise their manufacturing processes, with a dedicated emphasis on achieving future net-zero emissions. These initiatives highlight the crucial contribution that key stakeholders make in promoting environmentally sustainable practices within the industry. Here are the key highlights from the global aluminium industry:
An industry association with Beijing's support, which commenced its certification of low-carbon aluminium in June, anticipates accrediting approximately 2.75 million tonnes as low-carbon this year. This volume equals around 7 per cent of the total industry production and is projected to increase to 4 million tonnes by 2024. China stands as the predominant global producer of aluminium, a manufacturing process known for its significant environmental impact due to its substantial electricity consumption. In China, this electricity generation predominantly relies on coal, although the industry has been progressively transitioning towards greater utilization of hydropower and other renewable energy sources.
To know more: https://www.alcircle.com/news/china-elevates-low-carbon-aluminium-certification-in-response-to-soaring-demand-101898
Suppose all currently operational mining sites in Brazil persist in their activities over the next few decades. In that case, it is projected that their emissions will amount to approximately 2.55 gigatonnes of carbon dioxide equivalent (CO2e), primarily attributed to the depletion of vegetation (0.87 Gt CO2eq) and soil (1.68 Gt CO2eq). In a research article featured in Communications Earth & Environment, scientists from the Luiz de Queiroz College of Agriculture at the University of São Paulo made calculations. They deduced that this quantity of CO2e is equivalent to approximately 5 per cent of the global yearly greenhouse gas emissions from human activities.
Vedanta, India's largest aluminium producer, has achieved a significant breakthrough in bauxite refining, a pivotal step in aluminium production. In a collaborative effort with the Indian Institute of Technology Kharagpur (IIT KGP), the company has developed an innovative method to substantially reduce the generation of bauxite residue, commonly called red mud. This pioneering process stands out for its remarkable accomplishment as it reduces bauxite residue by 30 per cent.
To know more: https://www.alcircle.com/news/vedanta-s-breakthrough-in-the-bauxite-refining-process-101852
During the third quarter of the year, Germany witnessed a notable decrease in aluminium production, according to a report from the Aluminium Deutschland (German Aluminium Association). In the smelters, the primary aluminium production volume dropped by nearly 50 per cent, and the manufacturing of semi-finished aluminium products saw a decline in the high single-digit percentage range.
To know more: https://www.alcircle.com/news/german-aluminium-industry-faces-unprecedented-challenges-as-production-decline-persists-101882
A report states that Saudi Arabia aims to double its investments in the aluminium industry to become one of the top ten aluminium producers in the world. The investment made a provision for the Red Sea Aluminium Industrial Company to acquire leased industrial land in Yanbu Industrial City to make a plant for safe smelting and rolling aluminium and its alloys. The plant would also be used for drawing, purifying and casting, alongside the casting of non-ferrous metals.
To know more: https://www.alcircle.com/news/saudi-arabia-does-not-mind-investing-more-into-aluminium-projects-103056
As the European Commission concludes its 12th sanctions package against Russia in response to the Ukraine-Russia geopolitical crisis this month, various options are under consideration, ranging from mildly impactful to potentially significant. Of particular concern is the possibility that specific measures within the more substantial category affect European importers and consumers rather than Russian exporters and producers and could also threaten the EU's green agenda, a key policy initiative.
China’s aluminium processing industry has reported a 9.1 per cent decline in the Purchasing Managers’ Index (PMI) for October 2023. Shanghai Metals Market survey found that the PMI for China’s aluminium processing industry stood at 47 per cent. China’s aluminium processing industry has reported a 9.1 per cent decline in the Purchasing Managers’ Index (PMI) for October 2023. Shanghai Metals Market survey found that the PMI for China’s aluminium processing industry stood at 47 per cent.
According to the Managing Director of Hindalco Industries, Satish Pai, the company plans to inject between INR 4,000 and INR 5,000 crore annually. As much as possible, the aluminium producer is trying to complete the projects with cash generated from the company's operations. The company is gearing up for strategic investments to capitalise on the demand for trains running at 150 km per hour, emphasising the necessity of an aluminium body. This practice is universally adopted, presenting a substantial market opportunity for Hindalco.
To know more: https://www.alcircle.com/news/hindalco-unveils-ambitious-plan-to-build-extrusion-facility-for-aluminium-trains-in-india-101943
Emirates Global Aluminium (EGA), the world's leading producer of 'premium aluminium,' has officially begun the construction of the largest aluminium recycling plant in the United Arab Emirates (UAE). The facility, set to process 170 thousand tonnes of aluminium annually, will be adjacent to EGA's existing smelter in Al Taweelah.
To know more: https://www.alcircle.com/news/ega-initiates-construction-of-uaes-largest-aluminium-recycling-plant-103013
The recently released real (adjusted for inflation) United States Gross Domestic Product (GDP) figures for the third quarter (Q3) exceeded expectations. According to the advanced estimates by the Bureau of Economic Analysis, the GDP grew by 4.9 per cent annually in Q3 2023. This slightly surpassed the consensus estimate of 4.7 per cent and marked more than a twofold increase compared to the 2.1 per cent growth in the previous quarter. The growth was primarily driven by upticks in consumer spending, private inventory investment, federal government spending, residential fixed investment, and exports.
Conclusion
The aluminium sector has witnessed a notable surge in the recycling trend, gaining momentum, recognition, and popularity in recent times. This shift signifies a departure from conventional aluminium production methods towards embracing the recycling of scrap materials. To enhance your understanding of the trade and market dynamics surrounding aluminium scrap, delve into AL Circle's most recent industry-centric report, titled "World Recycled Aluminium Market Analysis - Industry Forecast to 2030." This report provides comprehensive insights into the global recycled aluminium market, offering valuable perspectives on trade trends and market dynamics.
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