Primary aluminium weekly: Alba, EWA collaboration seeks to enhance energy exchange activities in Bahrain

Aluminium Bahrain (Alba), the world's biggest aluminium smelter outside of China, signed a deal with Bahrain's Electricity and Water Authority (EWA) for operation and maintenance. As part of this agreement, both parties undertake to exchange energy on an annual and seasonal basis to boost power efficiency by carefully managing the timing of exports and imports within their respective electric systems. Emirates Global Aluminium, a significant industrial business in the UAE, inked a memorandum of understanding with BP. National Aluminium Corporation Limited, an integrated aluminium corporation under the Ministry of Mines, released its financial results for fiscal years 2022 and 2023. The company's net profit for the March quarter was INR 495 crore, up from INR 256.32 crore in the previous quarter. This was a consecutive gain of 93.12%.

Aluminium Bahrain (Alba), the world's largest aluminium smelter ex-China, had entered into an operation and maintenance agreement with Bahrain's Electricity and Water Authority (EWA). As part of this agreement, both entities can exchange energy annually and seasonally to increase power efficiency by strategically scheduling the timing between exports and imports within their electric systems.

To know more: https://www.alcircle.com/news/alba-ewa-collaboration-seeks-to-enhance-energy-exchange-activities-in-bahrain-94968

Emirates Global Aluminium, a leading industrial company in the UAE besides oil and gas, signed a memorandum of understanding with BP. The purpose is to explore potential projects and opportunities that could decrease the carbon intensity of EGA's calcined petroleum coke supply.

To know more: https://www.alcircle.com/news/ega-and-bp-alliance-aims-to-reduce-carbon-content-in-ega-s-calcined-petroleum-coke-supply-94973

National Aluminium Company Limited, an integrated aluminium company under the Ministry of Mines, announced its financial results for FY2022-23. The company posted a net profit of INR 495 crore for the March quarter compared to INR 256.32 crore in the December quarter. That reflected an increase of 93.12 per cent, sequentially.

To know more: https://www.alcircle.com/news/nalcos-net-profit-records-a-93-surge-q-o-q-to-inr-495-crore-during-the-march-quarter-95003

Hindalco Industries Limited, a member of the Aditya Birla Group and one of India's largest aluminium production businesses, reported its fourth quarter and full-year results for the fiscal year 2022-23, which ended March 31. According to the report, net profit fell 37.4% year on year to INR 24.11 billion in Q4 compared to INR 38.51 billion the previous year.

To know more: https://www.alcircle.com/news/hindalco-posts-all-time-high-revenue-at-inr-2-232-billion-for-fy2023-but-net-profit-shrinks-26-94992

On Thursday, May 25, both LME aluminium cash bid price and LME aluminium official settlement price moved up by US$12 per tonne or 0.53 per cent and US$2 per tonne or 0.08 per cent to reside at US$2,235 per tonne and US$2,236 per tonne.

To know more: https://www.alcircle.com/news/lme-aluminium-price-moves-up-by-0-08-to-us2-236-t-shfe-price-gains-us22-t-95005

According to the International Aluminium Institute, world primary aluminium production amounted to 5.628 million tonnes in April 2023, reflecting a fall of 3.18 per cent month-on-month from 5.813 million tonnes. The output in March recorded an increase of 10.03 per cent month-on-month from 5.283 million tonnes. 

To know more: https://www.alcircle.com/news/world-primary-aluminium-production-dips-3-m-o-m-in-april-23-with-muted-daily-output-94982

The latest data from the International Aluminium Institute showed primary aluminium production in Africa recorded a fall of 3,000 tonnes or 2.29 per cent month-on-month during April 2023, coming in at 128,000 tonnes. In March 2023, Africa’s output stood at 131,000 tonnes, up by 8,000 tonnes or 6.50 per cent from 123,000 tonnes.

To know more: https://www.alcircle.com/news/africas-primary-aluminium-production-drops-by-2-in-april23-after-improving-in-the-previous-month-95009