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THINK ALUMINIUM THINK AL CIRCLE
The primary aluminium segment of the global aluminium industry is gradually navigated by environmental, social and governance (ESG) initiatives. The drive towards low-carbon aluminium production is now a mission for every manufacturer, as it is the future. The demand for aluminium is anticipated to pursue moving forward propelled by ESG especially from industries such as automotive and packaging. En+ Group’s metal division Rusal remains the leading producer of low-carbon aluminium, while the group’s commitment to achieving Net Zero at the COP26 UN Climate Change Conference in Glasgow.
The first aluminium smelter in the Gulf region, Aluminium Bahrain B.S.C. (Alba), a leader in Environment, Social and Governance (ESG), has united with a top-class sustainability consultant to develop a fully-fledged roadmap to realise its ambitious ESG goals pursuant to Bahrain’s commitment for ‘Net Zero Emissions’ by 2060.
Three-month LME aluminium opened at US$2,575 per tonne on November 11 and closed at US$2,657 per tonne, an increase of US$79 per tonne or 3.06 per cent. On Thursday, November 11, LME aluminium cash (bid) price and LME official settlement price surged by US$92 per tonne and US$91.50 per tonne, respectively, to close at US$2,645 per tonne and US$2,645.50 per tonne. 3-month bid price and 3-month offer price moved up by US$82 per tonne and US$80.50 per tonne to come in at US$2,655 per tonne and US$2,655.50 per tonne. December 22 bid price and December 22 offer price totalled US$2,620 per tonne and US$2,625 per tonne, respectively.
To know more: https://www.alcircle.com/news/lme-aluminium-price-surges-by-us91-5-t-to-close-at-us2645-5-t-shfe-price-exceeds-us3000-t-72848
On Monday, November 8, Alcoa Corporation disclosed a technology roadmap for the aluminium industry to achieve a sustainable future, attaining net-zero greenhouse gas emissions by 2050 across global operations. The list of technologies included a new, proprietary post-consumer scrap recycling process and processes to design a refinery that lowers capital intensity, eliminates carbon emissions, and addresses other industry challenges.
To know more: https://www.alcircle.com/news/alcoa-announces-technology-roadmap-for-aluminium-industry-includes-astraea-and-elysis-71839
A00 aluminium ingot price in China has soared by RMB 630 per tonne on November 12, marking the second consecutive day of hike. According to the Shanghai Metals Market, the price is standing at RMB 19,430 per tonne, with average prices likely to range between RMB 19,410 per tonne and RMB 19,450 per tonne. The spot contract is expected to be traded at a premium price of RMB 50-10 per tonne.
On 4th November 2021, the Swiss multinational commodity trading company Trafigura in partnership with US Special Presidential Envoy for Climate, John Kerry publicized the “First Movers Coalition”, a new platform of corporate commitments to develop demand for low carbon technologies. During the UN Climate Change Conference COP26, in Glasgow, Scotland, Trafigura Group, the founding member of the coalition symbols its official launch.
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices with effect from November 11, following three consecutive cuts since October 25. The latest hike has brought the company’s aluminium ingot price to INR 219,850-223,350 per tonne versus INR 216,150-219,650 per tonne on November 6. That reflected an increase of INR 3,700 per tonne.
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have dropped this week after more than two months of incessant hikes. Data shows the inventories have dipped by 6,000 tonnes across eight major consumption areas, including SHFE warrants, to come in at 1.007 million tonnes as of November 11, 2021.
On 08th November 2021, Alcoa Australia stated that it would resume functionalizing 35,000 tonnes per year of long retrenched capacity at its Portland aluminium smelter in Australia that will drive operations at the facility to around 95% of capacity amid supply shortage of the metal. Alcoa said that the procedure to resume the capacity, which was redundant since 2009, will commence forthright with metal output to begin in Q32022.
To know more: https://www.alcircle.com/news/alcoa-to-resume-operations-of-redundant-smelting-capacity-at-portland-aluminium-71822
Vedanta Limited is selling its aluminium ingot price at INR 224,000-237,000 per tonne as of November 10, 2021. Among aluminium products prices, the company’s aluminium wire rod price has come in at INR 231,500- 239,000 per tonne, while aluminium billets price is standing at INR 232,000 per tonne.
To know more: https://www.alcircle.com/news/vedantas-aluminium-ingot-price-hovers-around-inr224000-237000-t-on-november-10-2021-71850
In October 2021, China’s primary aluminium production reflected a month-on-month increase of 1.61 per cent from 3.11 million tonnes to 3.16 million tonnes, found the Shanghai Metals Market. But on a year-on-year basis, the output stood down by 2.55 per cent from 3.25 million tonnes.
The demand for aluminium is anticipated to remain robust in the future aligned with widening efforts to protect the environment by most countries in the world through the application of environmental, social and governance (ESG) initiatives. Tan Sri Koon Poh Keong, the CEO of Press Metal Aluminum Holdings Bhd Group, Malaysia said: “The implementation of ESG would encourage companies to use recyclable materials as their raw materials, of which aluminium is one of them.”
According to a recent report, Aluminium Bahrain B.S.C. (Alba) has floated a tender to seek developers for a 5 megawatt solar power plant, which will be built on the premises of the firm in Bahrain. The developer will be responsible for handling design, construction, and commissioning of the solar plant. The solar plant will be deployed across operational areas and car parks. The closing date to submit technical bids is January 31.
To know more: https://www.alcircle.com/news/alba-floats-tender-to-seek-developer-of-a-5-mw-solar-power-plant-72839
The leading vertically-integrated producer of low-carbon aluminium and independent hydropower, En+ Group, confirmed its commitment to achieving Net Zero at the COP26 UN Climate Change Conference in Glasgow. More than 120 countries heads of state and business representatives attended the two-week climate conference, while it is anticipated to conclude on 12th November 2021.
According to research executed by the UK’s trade association, ALFED states that the UK's aluminium industry contributes far more than previously realised in terms of revenue and employment to the national economy. The voice of the UK aluminium industry, Aluminium Federation UK’s research has found that the sector directly employs 37,000 people across the UK, contributing almost £3 billion in Gross Value Added to the country’s GDP.
To know more: https://www.alcircle.com/news/aluminium-industry-contributes-immensely-to-the-economy-of-uk-fai-alfed-research-report-71833
Emirates Global Aluminium (EGA), one of the largest companies in the UAE, has accomplished the expansion of Al Taweelah smelter in Abu Dhabi to enhance production capacity at the facility by 78,000 tonnes per year. Mubadala Investment Company, Abu Dhabi’s strategic investment arm and the Investment Corporation of Dubai are the joint owners of EGA. However, in H1 2021, the company sold 1.18 million tonnes of aluminium to customers in more than 50 countries, while in 2020 it sold 2.52 million tonnes.
Restrictions on power usage in China have resulted in a 7 per cent domestic annual aluminium production capacity cut so far this year. This news has come after Wood Mackenzie consultancy revealed the outcome of its comprehensive studies on the impact of China’s energy crunch on the domestic metals sector.
To know more: https://www.alcircle.com/news/power-curbs-in-china-reduce-7-domestic-annual-aluminium-capacity-shows-mackenzie-72854
The Odisha Electricity Regulatory Commission’s positive move by allowing one unit of Vedanta IPP adding to the surplus power within the state to utilize its power for aluminium production within the state which would be developing thousands of employment in and around Jharsuguda.
To know more: https://www.alcircle.com/news/odisha-india-oercs-positive-move-benefits-the-aluminium-industry-and-state-72849
Automation Innovation based in Victoria, Australia, has designed and engineered the new AiRC-1000. The system features robotic automation and a high-intensity laser to clean anode rods used in aluminium smelters. Aluminium is one of the world’s most abundant metals and is found naturally in bauxite. Whilst Australia is the world’s largest producer of bauxite, China is the leading producer of aluminium. Aluminium is highly sought-after in transportation, construction, electrical engineering and machinery manufacturing sectors due to its low weight, durable, highly malleable, corrosion-resistant, conductive, affordable and recyclable nature.
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