Primary aluminium recap: Falling aluminium demand causes Hydro to partially curtail production at its Karmøy facility; Australia's largest aluminium smelter plans to fast-track its decarbonization drive
The global primary aluminium segment witnessed a lot of events. To begin with, on Thursday, September 29, the global aluminium benchmark price saw a dramatic expansion of US$181 per tonne due to the ban on Russian supplies by the London Metal Exchange. As a result of traders' worries about supply shortages following the London Metal Exchange's declaration that it was considering blocking new Russian metals from accessing the market, the price of nickel and aluminium rose dramatically on Thursday. On the other hand, the Norwegian aluminium smelter had to partially cut its aluminium output at Hydro Karmøy and Hydro Husnes due to declining demand for aluminium billets in Europe owing to the unfavourable economic climate in Europe and rising energy expenses. On the other hand, Tomago Aluminium, the largest aluminium smelter in Australia and the top energy user in New South Wales, will accelerate its decarbonisation effort and collaborate with renewable energy sources to support Hunter's transition to clean energy.
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Falling demand for aluminium billets in Europe due to the adverse European economic condition and rising energy prices caused the Norwegian aluminium smelter to partially reduce its aluminium production in Hydro Karmøy and Hydro Husnes.
Tomago Aluminium, the largest aluminium smelter in Australia and New South Wales' biggest energy consumer, will speed up its decarbonisation drive and work with renewable energy producers to boost Hunter's clean energy transition.
To know more: https://www.alcircle.com/news/australia-s-largest-aluminium-smelter-plans-to-fast-track-its-decarbonization-drive-84685
The chief executive of Rio Tinto, Jakob Stausholm, was concerned about the unshackled flow of Russian aluminium into the US, which is decreasing the competitiveness of North American producers. According to Stausholm, Russian aluminium imports remain exempt from US sanctions, whereas allies like Australia are still subject to Trump-era restrictions. Since taking the helm of Rio at the beginning of 2021, he has been extraordinarily outspoken about the aluminium industry.
Diversified miner South32 announced on Tuesday, September 22, that Chief Operating Officer (COO) Mike Fraser, responsible for the operations in Colombia and Africa, will depart from the business. Along with Jason Economidis, who will continue to serve as COO and be responsible for operations in Australia, Noel Pillay, currently serving as Worsley Alumina's vice president of operations, will be named as the new COO.
The world's largest premium aluminium producer, Emirates Global Aluminium (EGA), joined the UAE hydrogen leadership initiative program by signing an agreement with the Ministry of Energy and Infrastructure.
Norsk Hydro appointed Trond Olaf Christophersen, Executive Vice President for Corporate Development. As a member of the Corporate Management Board, Christophersen will report to President and CEO Hilde Merete Aasheim.
Vedanta Aluminium, India’s largest and one of the world’s leading producers of aluminium, has reportedly won the title Made in India aluminium at ALUMINIUM 2022 in Düsseldorf, Germany. Vedana is the first aluminium company from India to offer low carbon metal under the brand Restora, which has two product lines – Restora and Restora Ultra.
To know more: https://www.alcircle.com/news/vedanta-receives-recognition-of-made-in-india-aluminium-at-aluminium-2022-dusseldorf-84721
In response to rising energy prices, Europe's aluminium plants started shutting down, while Russia and China increased imports. The Iberian gas price cap, supported by the EU, is allegedly causing unfair competition, according to representatives of the French aluminium industry, who are also seeking anti-dumping actions against Spain.
On 29th September 2022, the Slovenian aluminium producer Talum, also one of the leading energy-consuming industries in the country, declared that the company had decided to reduce its primary aluminium production w.e.f 1st October 2022 due to the energy crisis.
To know more: https://www.alcircle.com/news/energy-crisis-forcing-slovenia-s-aluminium-producer-talum-to-axe-its-production-84741
On Thursday, September 29, both LME aluminium cash bid price and LME aluminium official settlement price skyrocketed by US$181.5 per tonne or 8.73 per cent and US$181 per tonne or 8.70 per cent to record at US$2,260.50 per tonne and US$2,261 per tonne.
According to the International Aluminium Institute, primary aluminium production in Russia & Eastern Europe stood at 350,000 tonnes of primary aluminium in August 2022, reflecting a monthly and yearly restraint.
A00 aluminium ingot price has augmented by RMB 200 per tonne to close at RMB 18,340 per tonne, as the Shanghai Metals Market recorded on Friday, September 30. The average prices are expected to range between RMB 18,320 per tonne and RMB 18,360 per tonne, with spot contracts trading at discount prices of RMB 60 per tonne and RMB 20 per tonne.
Stena Line, the largest freight route network connecting all the major ports and trade ways of Northern Europe, has bagged the winning bid to take over the 213-acre Eco Parks' former Anglesey Aluminium site in Holyhead, North Wales.
To know more: https://www.alcircle.com/news/stena-line-acquires-existing-anglesey-aluminium-site-supporting-the-welsh-community-84702
According to the Shanghai Metals Market, social inventories of primary aluminium across China’s eight major consumption areas, including SHFE warrants, decreased by 14,000 tonnes over the weekend to a total 652,000 tonnes. On a week-on-week basis, the inventories plunged by 33,000 tonnes on Monday, September 26, to come at a year-to-date low.
China customs data found the country’s prebaked anode exports stood at 141,600 tonnes in August 2022, which reflected a downfall of 31.43 per cent month-on-month and an increase of 6.99 per cent year-on-year. Custom statistics showed the export price per unit of prebaked anode was $1,334.50 per tonne, up by 1.29 per cent month-on-month.
To know more: https://www.alcircle.com/news/chinas-aug22-prebaked-anode-exports-shrink-31-4-m-o-m-but-grow-7-on-year-to-141-600-tonnes-84694
Aluminium Bahrain (Alba), the world's largest aluminium smelter ex-China, inaugurated its first concrete pour for the foundation of the Power Station 5 (PS5) Block 4 Project, kicking off the early work at the project's construction.
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