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THINK ALUMINIUM THINK AL CIRCLE
In October 2023, the global aluminium industry experienced static demand and supply dynamics, resulting in limited price fluctuations on both the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE). The ongoing economic deceleration in Western nations and specific Asian markets, majorly in Japan, continued to raise apprehensions within the worldwide manufacturing sector. However, aluminium, celebrated for its eco-friendly characteristics, is emerging as a pivotal player in shaping a more sustainable future. Aluminium's environmentally responsible attributes drive a significant transformation across various sectors, replacing steel and other materials. Key highlights from the global aluminium industry in October are as follows:
A consortium, which brings together the world's leading expertise to implement an innovative process, aims to achieve a 50 per cent reduction in direct CO2 emissions (excluding energy sources) from primary aluminium production by 2030. With more than 60 years' experience in capturing and processing industrial emissions, Fives, an international leader in industrial engineering, has unique expertise to contribute to the production of greener aluminium.
Ball Beverage Packaging and Coca-Cola Europacific Partners (CCEP) have joined hands to trial the use of hydrotreated vegetable oil (HVO) part-fueled vehicles in the UK. This trial will run for a period of twelve months, starting from October, and is expected to reduce supply chain CO2 emissions by approximately 300 tonnes per year. The trial will involve the use of a blend of HVO and diesel fuel to power around 5,000 deliveries to the CCEP site located in Wakefield, West Yorkshire, UK. The partnership has received support from Menzies Distribution, one of Ball's UK logistics partners.
The Anthony Albanese-led Australian government plans to re-evaluate the definition of 'critical minerals' to align with the strategic requirements of the nation's defence and trade allies. This revision may include domestically abundant resources such as bauxite, coking coal, and iron ore in the critical minerals list, as reported by an Australian business-focused, compact daily newspaper covering Australia's and the world's current business and economic affairs. In the last five years, the United States, Japan, South Korea, and the European Union have broadened their catalogue of minerals essential for national security and economic development. This expansion directly responds to apprehensions that China could exploit its control over mineral supply chains through coercion.
To know more: https://www.alcircle.com/news/australian-govt-may-adopt-a-new-definition-for-critical-minerals-100571
Vietnam Industry – Coal and Mineral Industries Group, popularly known as Vinacomin, has decided to invest in setting up new alumina refineries and aluminium smelters, along with expanding the capacity of its existing Nhân Cơ Alumina Plant in Đắk Nông. Vinacomin is focused on establishing new investment projects in Đắk Nông with a long-term goal of developing the upstream aluminium industry in a modern and sustainable manner. Vinacomin aims to increase its alumina production to 6-8 million tonnes annually and generate 450,000-900,000 tonnes of aluminium ingots annually after 2030.
The rush to discover additional ventures in transition materials has instigated a reassessment of strategy at Rio Tinto. This involves an inclination towards smaller mining operations and potentially exploring more precarious, less-established locations. Dominic Barton, Rio Tinto's chairman, indicated a more pronounced focus on aluminium, as customers are increasingly willing to pay extra for eco-friendly, sustainable products. He also emphasized the company's aspiration to participate in the growing lithium market.
To know more: https://www.alcircle.com/news/rio-tinto-s-chairman-pivots-towards-aluminium-promising-a-bright-future-for-the-metal-100533
Chinese aluminium smelters in Yunnan province are mulling over-cutting production in the coming months during the dry season due to reduced hydropower availability. In recent times, many Chinese aluminium smelters have shifted their operations to Yunnan to leverage the abundant availability of hydropower resources, which are cheaper and cleaner than traditional power sources of coal. But the only drawback is hydropower is dependent on weather. Lack of rainfall reduces hydropower generation, resulting in aluminium production cuts.
The aluminium industry in India shines amid a global landscape that is generally lacklustre or facing downturns. This positive outlook is attributed to the Indian government's efforts in infrastructure development and the industry's response to meet the increasing demand. Nilesh Koul, the Senior President and CEO of Aluminium Downstream at Hindalco Industries conveyed this perspective during the aluminium conference in Barcelona. India already holds the position of the world's second-largest aluminium producer, and the country's aluminium consumption demand is expected to double over the next decade.
To know more: https://www.alcircle.com/news/india-s-aluminium-sector-prospering-but-labour-shortages-hinder-growth-hindalco-101713
AMAG Austria Metall AG has reported its latest financial results till September 30, 2023, highlighting stable earnings with revenue above EUR 1 billion, even amid global inflation and decelerating aluminium prices. Although the revenue during the first nine months of 2023 saw a drop of 15.6 per cent year-on-year, it managed to come in at EUR 1,142 million. The revenue in the third quarter was recorded at EUR 346.4 million compared to EUR 449.6 million in the previous year. AMAG noted that aluminium demand from the aircraft sector was strong and that from the automotive industry was stable. However, demand from the sports and architectural sector was muted, resulting in a fall in AMAG's shipments volume.
The European aluminium giant Norsk Hydro has expressed concerns about the rising influx of electric cars imported from China, indicating that this trend may significantly affect regional demand. Hilde Merete Aasheim, the CEO of Norsk Hydro, emphasized the company's attention regarding this potential threat. During an interview with a British daily business newspaper, she said, “The fear when it comes to electric vehicles is imported into Europe and the impact on European car manufacturers. There is quite a steep curve right now. That is a threat we are following: if European automakers start reducing their demand for aluminium because they are outcompeted."
To know more: https://www.alcircle.com/news/european-aluminium-producer-warns-of-impact-from-growing-chinese-electric-car-imports-101752
A coalition of industry stakeholders, which includes TOMRA and Gerhard Lang Recycling GmbH, has united to establish the "KANAL research initiative." Over the next three years, they aim to demonstrate the circular nature of aluminium by recycling functional new scrap from automobile production using LIPS technology. The automotive industry generates significant quantities of aluminium production scrap, typically collected, processed, and reused, albeit often resulting in lower-quality, less pure recyclable materials.
To know more: https://www.alcircle.com/news/kanal-explores-the-recyclability-of-automotive-aluminium-production-scrap-100518
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