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THINK ALUMINIUM THINK AL CIRCLE
On 11th October 2021, the London Metal Exchange witnessed the surge of aluminium price as it crossed the $3000 per tonne mark, the highest since July 2008. The mounting pressure on the aluminium sector indicated, as the global metals world prepared to gather in London for the annual LME Week. However, for now, it is also predicted that in the next 12 months prices could hit $3400 per tonne. The stock price of India’s integrated aluminium company Nalco observed a flight of 7% after the data revealed that ace Indian market expert Rakesh Jhunjhunwala acquired a 1.36% stake. Hongqiao’s Chairman Zhang Bo said that they have rolled back the relocation idea due to power restrictions, while 1 million tonnes of capacity had started in Wenshan last year.
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On 11th October 2021, Hilde Merete Aasheim, CEO of Norwegian aluminium and one of the largest aluminium companies worldwide, Norsk Hydro said: “The green transition is under threat unless governments can level the playing field between metal producers who are forced to pay offset costs for their emissions and those who are not.”
Aldel, a Dutch aluminium maker based in Delfzijl, is halting its primary aluminium production because of the current rise in electricity prices, which usually account for 40 per cent of the total aluminium production cost. The news came after the Dutch firm’s chief executive officer Chris McNamee told Reuters that the smelter would remain idled from October 11 until at least early 2022.
On 14th October 2021, the institution that caters for the needs of the Indian Aluminium Industry, the Aluminium Association of India (AAI) pleaded to the Indian government-owned coal mining and refining Corporation, Coal India Limited (CIL) for prompt resumption of coal supplies for the domestic aluminium industry stating that the ongoing severe crisis of the fossil fuel due to several factors has developed insecure circumstances.
To know more: https://www.alcircle.com/news/aais-plea-continues-to-cil-for-immediate-coal-supply-71620
On 13th October 2021, the Chairman of the world's largest aluminium producer, China Hongqiao Group stated that the company is deferring the plan to reposition aluminium capacity to Yunnan province precisely for energy restrictions imposed by the provincial government.
To know more: https://www.alcircle.com/news/energy-crisis-defers-china-hongqiao-s-plan-of-aluminium-capacity-relocation-to-yunnan-71615
On Monday, October 11, the London Metal Exchange (LME) announced that they are planning to establish a digital base metal spot market that will focus on the trading of ‘green’ aluminium. For this initiative, LME will be partnering with a German digital metals trading platform called Metalshub. Spot trading will be taking place on Metalshub’s existing online trading platform.
To know more: https://www.alcircle.com/news/lme-partners-with-metalshub-to-develop-digital-metals-spot-market-aiming-green-aluminum-70612
Environment Southland is spearheading a project to determine the extent and effect of pollution at Tiwai Point, which involves analysing the complete site investigation (DSI) report shared by New Zealand Aluminium Smelters. The DSI study, which details the pollutants discovered at the Tiwai Point aluminium smelter, is an important part of Environment Southland's efforts.
To know more: https://www.alcircle.com/news/environment-southland-evaluates-contamination-at-tiwai-point-aluminium-smelter-site-71630
Mining king Rio Tinto has signalled that they will be joining hands with the Queensland government to look for clean energy for their Boyne aluminium smelter, as Australian manufacturers are gaining a lot due to the crisis in global energy prices which is urging smelters in Europe and Asia to cut productions.
To know more: https://www.alcircle.com/news/rio-tinto-remains-serene-while-the-energy-crisis-keeps-local-smelters-afloat-70614
Yunnan YunLv Yongxin Aluminium Co., Ltd., located in Yangjie Industrial Park, Jianshui County, has bagged the Aluminium Stewardship Initiative’s Performance Standard certification for aluminium smelting and casting operations. The products the company produces include electrolytic aluminium liquid, remelting aluminium ingot, casting aluminium alloy, and aluminium bar.
The high power-intensive produced metal aluminium escalated to new heights since 2008, as the global power distress plunges the metal supplies utilized for the manufacturing of beverage cans to world-class mobile phones. The metal aluminium consumes around 14-megawatt hours of power for one-tonne output, which is considered enough to ferry an average home in Britain for more than three years.
To know more: https://www.alcircle.com/news/global-power-crisis-spins-aluminium-prices-to-cross-3-000-per-tonne-70610
Rusal, the Russian aluminium giant and the world’s largest aluminium producer outside China, has reportedly planned to supply 300,000-400,000 tonnes of metal to China in 2021. Compared to the year last, the volume has remained essentially the same. Roman Andryushin, the company's head of sales in Russia, the CIS, and China, said that Rusal would significantly increase the sales to China next year.
To know more: https://www.alcircle.com/news/rusal-plans-to-supply-300-000-400-000-tonnes-of-aluminium-to-china-in-2021-71631
Three-month LME aluminium opened at US$3,055 per tonne on Thursday morning and ranged between US$3,028-3,174 per tonne before closing at US$3,139 per tonne, up to US$84 per tonne or 2.75 percent. On Thursday, October 14, the LME aluminium cash (bid) price climbed up by US$76.5 or by 2.48 percent to settle at US$3,151.50 per tonne. LME aluminium official settlement price for the same day soared up by US$76 or by 2.47 percent to close at US$3,152 per tonne. 3-month bid price and the 3-month offer price was recorded at US$3,171 per tonne and US$3,172 per tonne. December 22 bid price stood at US$3,002 per tonne and the offer price for the same day closed at US$3,007 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-price-ascends-by-2-47-to-us3-152-t-shfe-price-increases-by-us54-71627
The shares of the Govt. of India equity hold majority enterprise, National Aluminium Company Ltd (NALCO) has aroused by approximately 7% following its shareholding pattern data for September quarter revealed an expert investor Rakesh Jhunjhunwala stake. The Government of India holds 51.28% in Nalco, with public shareholding comprising the rest.
To know more: https://www.alcircle.com/news/nalco-shares-boost-7-following-rakesh-jhunjhunwala-1-36-stake-disclosure-71634
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