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THINK ALUMINIUM THINK AL CIRCLE
The primary aluminium segment has been bombarded with pivotal events this week, with Aluminium China 2023 and the 27th International Conference on Non-ferrous Metals making headlines on an international scale. The European Union has updated the Critical Raw Materials Act (CRMA) to include aluminium in the list of minerals and metals covered by its provisions. The CRMA is a crucial part of the EU's strategy to obtain the necessary resources to compete with the United States and China in the global race for decarbonisation. While mentioning market updates, it can be cited that LME official aluminium price has grown by US$7 per tonne or 0.33 per cent over the week from US$2,096.50 per tonne on June 30, last Friday to US$2,103.50 per tonne on July 6, this Thursday. On the other hand, the SHFE aluminium price has seen a US$13 per tonne or 0.51 per cent downward streak this week, with Monday, July 3, flashing US$2,524 per tonne, to Friday, July 7, when it stood at US$2,511 per tonne.
In June 2023, the global aluminium industry experienced a combination of instability and a downward price trend, affecting both the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE). Despite the challenges, the aluminium value chain worldwide remains committed to pursuing a low-carbon and sustainable future. Producers of this metal are optimistic that its price will regain momentum in the coming months.
To know more: https://www.alcircle.com/news/key-highlights-from-the-global-aluminium-industry-june-2023-96428
The Indian Prime Minister Narendra Modi's recent visit to the United States and Egypt brought in a solution from both the economic and strategic perspectives. The bilateral meeting among the three countries has resolved six major disputes at World Trade Organisation related to aluminium, steel, renewable energy, and solar cells.
To know more: https://www.alcircle.com/news/pm-narendra-modis-visit-convinces-us-to-grant-market-access-to-indian-aluminium-steel-96442
Aluminium China 2023 will emphasize the industry's dedication to tackling these issues in light of the rising environmental sustainability concerns. Participants will learn about environmentally friendly materials, energy-efficient manufacturing techniques, and circular economy concepts. The exhibition will encourage talks about the aluminium industry's ability to reduce carbon footprint and advance a more sustainable and greener future.
To know more: https://www.alcircle.com/news/aluminium-china-2023-welcoming-all-for-an-exciting-industry-event-96444
Aluminium smelters in Yunnan province, China, have begun increasing production as restrictions on power usage have been eased following a recovery in hydropower output, said an analyst to Reuters. Analysts expect Yunnan to resume 50 per cent of its curtailed capacity during June-August 2023. As a result, supplies will increase to inventories in the near term, putting pressure on regional aluminium prices.
Luciano Alves, a production engineer from Escola Politécnica da USP with over twenty years of experience in finance, strategic planning, and M&A, took over as CEO at Companhia Brasileira de Alumínio (CBA) in May.
To know more: https://www.alcircle.com/news/companhia-brasileira-de-aluminio-welcomes-luciano-alves-as-new-ceo-96449
The 27th International Conference on Non-ferrous Metals, organised by Corporate Monitor in association with JNARDDC, has begun on July 7 with an inaugural session starting at 10 AM followed by a welcome speech by Dr Anupam Agnihotri, Conference Organising Committee & Director, JNARDDC; and Sanjay Kumar Verma, Chairman, Conference Advisory Committee.
To know more: https://www.alcircle.com/news/complete-itinerary-of-27th-international-conference-on-non-ferrous-metals-2023-96451
Epsilon Carbon, an eminent Indian manufacturer specializing in coal tar pitch derivatives, has recently entered into a partnership with South32, an international mining and metals corporation. The agreement entails importing liquid coal tar pitch from Epsilon Carbon to South32's South Africa and Mozambique operational sites.
To know more: https://www.alcircle.com/news/epsilon-carbon-to-export-liquid-coal-tar-pitch-in-a-landmark-deal-with-south32-96475
The Critical Raw Materials Act (CRMA) of the European Union (EU) has been updated to include aluminium among the minerals and metals covered by its provisions. The Act serves as the focal point of the EU's plan to acquire the essential resources required to rival the United States and China in the worldwide competition to achieve decarbonization.
To know more: https://www.alcircle.com/news/eu-acknowledges-aluminium-s-vital-role-includes-it-in-the-critical-raw-materials-list-96492
The Chairman of the Board of Aluminium Bahrain B.S.C. (Alba) Shaikh Daij bin Salman bin Daij Al Khalifa during his recent field tour to Mitsubishi Heavy Industries (M.H.I.)’s Takasago Machinery Works and Hydrogen Park, in Hyogo Prefecture Japan stated, “We are very excited to witness first-hand the J.A.C. Advanced Gas Turbine (G.T.), the first of its kind in the world G.T. manufactured for a primary aluminium smelter, ready to be shipped to Bahrain for Alba’s Power Station 5 (PS5) Block 4 Project.”
To know more: https://www.alcircle.com/news/chairman-of-alba-pays-a-visit-to-the-facilities-of-mitsubishi-heavy-industries-in-japan-96452
The Shanghai Metal Market, today, on July 7, has recorded an RMB 70 per tonne slump in China’s aluminium spot price, with it officially resting at RMB 18,210 per tonne, with average prices hovering between RMB 18,190 per tonne and RMB 18,230 per tonne.
LME aluminium opened at US$2,139 per tonne on Thursday, with its low and high at US$2,127 per tonne and US$2,153 per tonne, respectively, before closing at US$2,130 per tonne, a drop of US$7 per tonne or 0.33 per cent.
To know more: https://www.alcircle.com/news/lme-aluminium-price-moves-up-by-us10-5-t-to-us2-103-5-t-shfe-price-drops-to-us2-511-t-96488
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