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Primary aluminium output in Russia and Eastern Europe reached 343,000 tonnes in March 2023, up 10.65% or 33,000 tonnes from 310,000 tonnes the previous month. According to Hong Leong Investment Bank (HLIB) Research, Press Metal should see a 26 per cent growth in quarter-on-quarter primary profits in 2023. The study also indicates that aluminium may have a bright future in the medium or long term if it can overcome electricity costs, recession, and the imposed slump on the worldwide real estate business. Net sales for Century Aluminium climbed by 4.25 per cent quarter over quarter, from $529.9 million to $552.4 million, reflecting an increase in shipments of 11,694 tonnes. According to the statistics, exports increased from 169,471 tonnes to 181,165 tonnes in Q1 2023. The PT Adaro Minerals Indonesia Tbk (ADMR) projected renewable energy-sourced aluminium smelter at Green Industrial Park Indonesia, North Kalimantan, is expected to be operational in Q2 2025, with a total investment of US$2 billion.
In Russia & Eastern Europe, primary aluminium production during March 2023 stood at 343,000 tonnes, reflecting an increase of 10.65 per cent or 33,000 tonnes month-on-month from 310,000 tonnes. Russia & Eastern Europe witnessed a hike in March following M-o-M downfall of 9.88 per cent in the previous month from 344,000 tonnes, showed the International Aluminium Institute.
To know more: https://www.alcircle.com/news/primary-aluminium-production-across-europe-reflects-10-monthly-hike-in-march-2023-iai-93851
As per the Hong Leong Investment Bank (HLIB) Research, it was forecasted that Press Metal might have a 26% increase in quarter-on-quarter primary earnings in 2023. The research also notified that aluminium might have a bright future in mid or long-term conditions after it overcomes power cost, recession and the inflicted depression on the international real estate industry.
To know more: https://www.alcircle.com/news/press-metals-q1-earnings-to-rise-for-global-decarbonisation-goals-hlib-research-93849
Century Aluminium, a US-based primary aluminium producer with smelters in Kentucky, South Carolina, and Iceland, announced its first quarter 2023 financial and operational results on Monday, May 8, 2023. The company released that its net sales increased by 4.25 per cent quarter-on-quarter from $529.9 million to $552.4 million, in line with the growth in shipments by 11,694 tonnes.
To know more: https://www.alcircle.com/news/century-aluminium-announces-robust-q1-2023-results-with-net-loss-improving-75-q-o-q-93832
The planned renewable energy-sourced aluminium smelter of PT Adaro Minerals Indonesia Tbk (ADMR) in Green Industrial Park Indonesia, North Kalimantan, is anticipated to be functional in Q2 2025 with a total investment of US$2 billion.
To know more: https://www.alcircle.com/news/adaro-minerals-aluminium-smelter-will-be-open-in-2025-93854
The current aluminium price in China halted at RMB 17,890 per tonne, with a steep fall of RMB 430 per tonne, as the Shanghai Metals Market reported on May 12, Friday. The average aluminium price trends are between RMB 17,870 per tonne and RMB 17,910 per tonne. The discount prices have ventured around RMB 60 per tonne or RMB 20 per tonne.
On Thursday, May 11, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$47.5 per tonne or 2.08 per cent and US$47 per tonne or 2.06 per cent to halt at US$2,228 per tonne and US$2,229 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-plunges-by-us47-t-to-us2-229-t-shfe-price-dwindles-by-us54-t-94858
According to a recent report, Aluminium Bahrain B.S.C. (Alba)’s Chairman of the Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa, welcomed Mr Ni Ruchi, the Ambassador of People’s Republic of China to the Kingdom of Bahrai, at Alba's premises on May 7, 2023.
To know more: https://www.alcircle.com/news/albas-chairman-discusses-aluminium-industry-with-chinese-ambassador-to-bahrain-mr-ni-ruchi-93825
Google, the world’s leader in the search engine, plans to transform the search on its platform. The new avatar of the search engine will be more “visual, snackable, personal and human”. As mentioned in a recent report by The Wall Street Journal, the technology /giant will transform how the search engine presents the data to the audience with more AI-based conversations, trim video clips and social media posts, etc.
To know more: https://www.alcircle.com/news/ai-fueled-google-search-revamp-aluminium-companies-may-leverage-digital-93820
Affin Hwang Capital, the Malaysian-based investment banking group, had reduced its aluminium price per megatonne projections for 2023 to 2025, citing worries about global growth deceleration and a slight oversupply in the aluminium market. The pricing assumptions suggested that aluminium prices may fall below US$1,800 per tonne in the fourth quarter of 2023 (4Q23), following in the footsteps of aluminium prices that have fallen during economic downturns.
According to the Shanghai Metals Market survey, China’s aluminium smelters operating rates in primary production hubs, including Shandong, Xinjiang, and Inner Mongolia, stood robust in March 2023. The amalgamated installed aluminium capacity in these three provinces was 20.65 million tonnes, nearly half of China’s total.
India’s aluminium scrap, finished and semi-finished products exports in March 2023 reflected month-on-year and year-on-year growth of 11 per cent and 15 per cent, respectively, to reach 213,960 tonnes. A month ago, India exported 193,214 tonnes of aluminium and a year earlier, the country shipped 185,687 tonnes.
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