Primary aluminium recap: EGA, Microsoft UAE to join forces on Industry 4.0; Alba reports a 16% revenue growth to BD1,840.9 million in 2022
The aluminium industry and its urge to move towards a low-carbon-induced environment can be considered one of the most critical concerns. The government of New South Wales pledged to collaborate with the region's most emission-prone sectors to transform them into low-carbon facilities. Apart from this, aluminium companies like Alba, MYTILINEOS also announced their full-year financial results. Alba released its Q4 and full-year 2022 financial results, which revealed a significant decline of 78% in Q4 year over year from BD181.2 million (US$481.8 million) to BD39.4 million (US$104.9 million). For MYTILINEOS, the company had recorded a net profit (after taxes and minority interest) of €466 million compared to €162 million in 2021. Another significant achievement can be the recent collaboration between Emirates Global Aluminium (EGA) and Microsoft on Industry 4.0 and broader digital transformation to establish global best practices for the aluminium industry while improving.
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The New South Wales Government vouched to work together with the most emission-prone industries of the area to morph them into low-carbon facilities. This was to commemorate the milestone-worthy decision the NSW Government made to plot for total decarbonisation in the heavy industrial zones.
To know more: https://www.alcircle.com/news/nsw-government-allies-with-australian-heavy-industries-to-curtail-emissions-89861
With the aim of setting global best practices for the aluminium industry while enhancing the sustainability of EGA's computing operations, Microsoft UAE and Emirates Global Aluminium, the world's largest 'premium aluminium' producer, announced their intention to work together on Industry 4.0 and broader digital transformation.
To know more: https://www.alcircle.com/news/ega-microsoft-uae-to-join-forces-on-industry-4-0-and-broader-digital-transformation-89822
On Thursday, February 2, Aluminium Bahrain B.S.C. (Alba) reported its fourth quarter and full-year 2022 financial results, announcing a sharp downfall of Q4 profit by 78 per cent year-on-year from BD181.2 million (US$481.8 million) to BD39.4 million (US$104.9 million).
On Thursday, January 26, MYTILINEOS S.A., a leader in the metallurgy industry with vertically integrated bauxite, alumina, and primary and recycled aluminium production, announced the full-year financial results for 2022, revealing a record net profit (after taxes and minority interest) of €466 million versus €162 million in 2021.
To know more: https://www.alcircle.com/news/mytilineos-s-a-completes-2022-with-a-record-high-net-profit-of-466-million-89806
On January 31, 2023, Vedanta Aluminium announced that to finance its capital expenditures and lessen its carbon impact, it had raised $250 million (INR 2,045 crore approx.) through sustainability-linked loans from international banks.
Ali Al Baqali, the CEO of Aluminium Bahrain (Alba), one of the world's largest aluminium smelters ex-China, was recognized by the National Safety Council's (NSC) list for the 'CEOs Who Get It' list in 2023. Being the only Arab on the list, he was honoured for his dedication to preserving and enhancing the safety culture for Alba employees and Contractors' workers across the Company.
To know more: https://www.alcircle.com/news/alba-ceo-ali-al-baqali-the-only-arab-to-receive-the-ceos-who-get-it-award-for-2023-89845
National Aluminium Company Limited (NALCO) has appointed Pankaj Kumar Sharma as the new Production Director of the Navratna CPSE, effective from February 1. The CMD of NALCO, Sridhar Patra, has formally lauded Shri Pankaj Sharma for taking this great responsibility as a Director (Production).
To know more: https://www.alcircle.com/news/nalco-appoints-pankaj-kumar-sharma-as-the-new-production-director-89870
One of the world’s leading marketers of physical commodities, Glencore, reportedly delivered 40,000 tonnes of Russian aluminium to the LME-approved warehouses in the South Korean port of Gwangyang, two sources familiar with the matter reported to Reuters.
According to the Shanghai Metals Market, China’s social inventories of primary aluminium across eight major consumption areas totalled 986,000 tonnes as of Monday, January 30, up 57,000 tonnes from 929,000 tonnes on January 28 and 242,000 tonnes higher than the pre-Chinese New Year level.
According to the International Aluminium Institute, primary aluminium production in Africa stood at 140,000 tonnes during December 2023, registering a hike of 11.11 per cent or 14,000 tonnes month-on-month from 126,000 tonnes. On a year-on-year basis, Africa’s primary aluminium output in December’22 edged a slight drop of 2,000 tonnes from 138,000 tonnes.
On February 2, Thursday, the LME aluminium cash bid price slumped by US$38 per tonne or 1.45 per cent to log at US$2,572 per tonne and the LME aluminium official settlement price plunged by US$38.50 per tonne or 1.47 per cent, settling at US$2,572.50 per tonne.
To know more: https://www.alcircle.com/news/lme-benchmark-aluminium-price-sheds-us38-5-t-shfe-aluminium-price-dives-down-by-us30-t-89872
China’s A00 aluminium ingot price slipped by RMB 130 per tonne to close at RMB 18,880 per tonne as of Friday, February 3, with the spot contract price expected to be traded at a discount price of RMB 100 to RMB 60 per tonne, and the average price was expected to range between RMB 18,860 per tonne and RMB 18,900 per tonne.
According to a report on Wednesday, February 1, Rusal has started producing aluminium-scandium master alloys, the most technologically complex among melted master alloys, at its Krasnoyarsk Aluminium Smelter. Master alloy is a base metal consisting of a relatively high percentage of one or two other elements and is used to make alloys.
The EU-funded HyInHeat project explores the possibility of utilizing hydrogen as a fuel source in the aluminium and steel sectors. With a budget of €24 million, the project intends to incorporate hydrogen into the high-temperature heating processes of energy-intensive sectors, with €17.7 million coming from the EU.
On Wednesday, February 1, Aluminium Stewardship Initiative announced it successfully certified Yunnan Hongtai New Material Co., Ltd., a subsidiary operation of China Hongqiao Group Co., Ltd., against the Performance Standard V2 (2017) Certification.
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