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THINK ALUMINIUM THINK AL CIRCLE
Rio Tinto plans to spend $1.1 billion (CAN$1.4 billion) to expand its state-of-the-art AP60 aluminium smelter at Complexe Jonquière in Canada. This development will compensate for the closure of potrooms at the Arvida smelter in the same location and the loss of 170,000 tonnes of capacity. Besides this, Aluminium Bahrain (Alba), the world's biggest aluminium smelter outside of China, was named the 'Metals & Mining Deal of the Year' at the Bonds, Loans & Sukuk Middle East Awards 2023. Under the market forefront, on June 13, 2023, an international news outlet reported that Chinese experts monitoring the situation of the aluminium industry in China's southwestern Yunnan province revealed that energy supply to aluminium smelters would be increased later this month, allowing a portion of the capacity in the drought-stricken area to resume operations. Also, with the improved hydropower generation in Yunan, the gap between the demand and supply of aluminium was removed.
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According to a report on Monday, June 12, Rio Tinto will expand its state-of-the-art AP60 aluminium smelter at Complexe Jonquière in Canada with an investment of $1.1 billion (CAN$1.4 billion). This expansion will offset the closure of potrooms at the Arvida smelter on the same site and counterbalance the 170,000 tonnes of capacity loss.
To know more: https://www.alcircle.com/news/rio-tinto-to-add-96-new-ap60-pots-to-its-canada-aluminium-smelter-investing-1-1-billion-95204
Aluminium Bahrain (Alba), the world's biggest aluminium smelter outside of China, was named the 'Metals & Mining Deal of the Year' at the Bonds, Loans & Sukuk Middle East Awards 2023. Alba was represented at the Awards event by its Senior Head of Treasury, Ali Al Hanan, who accepted the prize on the company's behalf.
To know more: https://www.alcircle.com/news/alba-bags-metals-mining-deal-of-the-year-award-for-2023-95193
On June 13, 2023, an international media house reported that Chinese experts attached to the situation of the aluminium industry in China's southwestern Yunnan province revealed energy supply to aluminium smelters would be increased later this month, enabling a portion of the capacity in the drought-stricken area to resume operations.
To know more: https://www.alcircle.com/news/yunnan-to-improve-power-supply-to-aluminium-smelters-in-the-province-chinese-experts-95216
Century Aluminum Company announced last week that the stockholders voted Tamla Olivier as a seventh director to the board, with a term expiring in 2024. Ms Olivier is presently associated with Pepco Holdings, part of the Exelon family of companies, as a Chief Operating Officer.
On June 15, Thursday, the LME aluminium cash bid price and the LME aluminium official settlement price closed at US$2,196 per tonne and US$2,197 per tonne, showing a downward trend of US$3 per tonne or 0.14 per cent in the aluminium price index.
According to the Shanghai Metal Market, the aluminium spot price had experienced an RMB 50 per tonne loss, officially stopping at RMB 18,530 per tonne today, June 15. The average aluminium price trends are between RMB 18,510 per tonne and RMB 18,550 per tonne.
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