Primary aluminium weekly: Jérôme Pécresse gets appointed as the new Chief Executive for Rio Tinto Group's aluminium business

Major changes are on their way in the primary aluminium sector, with the world advocating the need to incorporate more and more renewable energy systems into the equation. Shell Energy and Hydro have inked a significant three-year agreement aimed at decarbonising Hydro's UK operations. Under the terms of the deal, Shell Energy will supply 56 GWh of electricity and 144 GWh of gas to Hydro annually, letting the aluminium giant substantially cut down its Scope 2 emissions in the UK, resulting in a remarkable annual reduction of approximately 11,000 tonnes of CO2. In a recent development, Jérôme Pécresse has been appointed as the new Chief Executive for Rio Tinto Group's aluminium business, starting on October 23, 2023. He has over 30 years of experience in senior leadership roles in global mining and energy companies, including serving as President and CEO of General Electric's Renewable Energy business. Pécresse will succeed Ivan Vella in his new role. European Aluminium and 11 other industry associations are advocating for the recognition of the strategic significance of aluminium. The objective is to include aluminium in the EU's Critical Raw Materials Act to promote sustainable growth and safeguard Europe's strategic resilience.

Hydro has agreed to a three-year deal with Shell Energy to assist in decarbonising its UK operations. The arrangement is for an annual supply of 56 GWh of electricity and 144 GWh of gas to Hydro's UK operations. By implementing this contractual agreement, Hydro successfully reduced its Scope 2 emissions in the UK, resulting in a noteworthy reduction of about 11,000 tonnes of CO2 per year.

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According to the International Aluminium Institute (IAI), the Gulf Cooperation Council (GCC), consisting of regions like Bahrain, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, has experienced stable growth in primary aluminium production this year, with 50 per cent of the total collection in 2022, already being produced in Q1 and Q2 of 2023.

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The Arab International Aluminium Conference and Exhibition (ARABAL), the premiere-most event for the aluminium industry in the Arab world, is scheduled for November 21-23, 2023, at Hilton Riyadh Hotel & Residences, Riyadh, Saudi Arabia.

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Rio Tinto Group, the world's second-largest metals and mining corporation, has appointed Jérôme Pécresse as the Chief Executive for the aluminium business. Jérôme Pécresse will join Rio Tinto on October 23, 2023, succeeding Ivan Vella.

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European Aluminium, in collaboration with 11 other industry associations representing the raw materials, aerospace & defence, and clean tech sectors, has joined forces to advocate for the formal recognition of aluminium's strategic significance. The shared objective is to secure the inclusion of aluminium in the Strategic Raw Materials list of the EU’s Critical Raw Materials Act (CRMA).

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In August 2023, the global aluminium industry experienced some significant developments. Despite minor fluctuations, the LME aluminium price decreased slightly, while the SHFE price exhibited growth. Anticipations for the year's second half indicate an upswing in aluminium demand, with both worldwide primary aluminium production and the Chinese market displaying signs of rise.

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On September 5, Baowu and Chinalco Group signed a strategic cooperation framework agreement in Beijing. The purpose of this agreement is to actively promote the optimisation and upgrading of the industrial layout structure while practising the new development concept. 

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In July 2023, North America contributed 330,000 tonnes to the global primary aluminium production at 5.861 million tonnes, according to the International Aluminium Institute data. On a month-on-month calculation, North America’s primary aluminium output in July stood at 9,000 tonnes or 2.80 per cent higher than 321,000 tonnes, following a drop of 2.43 per cent in June from 329,000 tonnes.

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The German economy experienced a lacklustre performance in the second quarter of 2023, falling short of expectations for a slight expansion. Factors such as diminished purchasing power, elevated interest rates, and subdued factory order levels exerted downward pressure on the largest economy in the Eurozone.

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On Thursday, September 7, China’s 6063 aluminium billet inventories across five major consumption areas totalled 81,800 tonnes, registering a week-on-week hike of 12,200 tonnes or 17.53 per cent from 69,600 tonnes, found the Shanghai Metals Market data. From Monday, September 4, the inventories on Thursday grew by only 1,800 tonnes.

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On Thursday, September 7, the Aluminum Association, the aluminium industry's leading voice in the United States of America, published its monthly Aluminum Situation report, which includes early projections indicating a 4.5 per cent decline in demand for the aluminium industry in North America (comprising the United States and Canada) for the first half of 2023.

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On Friday, September 8, the A00 aluminium ingot price in China dipped by RMB 50 per tonne to a halt at RMB 19,420 per tonne, with the average prices between RMB 19,400 per tonne and RMB 19,440 per tonne. The spot contract price is expected to be traded at a premium price of RMB 0 to RMB 40 per tonne.

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LME aluminium opened at US$2,193 per tonne on Thursday, with its high and low at US$2,199 per tonne and US$2,176.5 per tonne, respectively, before closing at US$2,196.5 per tonne.

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In recent years, Yunnan Province has taken the lead in transferring aluminium sector capacity, capitalising on the benefits of renewable energy, and the creation of "China's Green Aluminium Valley" has reached a point where further acceleration is no longer possible. 

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The inauguration ceremony for the annual treatment of 70,000 tonnes of aluminium electrolyte comprehensive utilisation project, conducted by Henan Qinyuan Chun New Materials, took place on the morning of September 6. 

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The Gulf Cooperation Council (GCC) manufacturing sector is undergoing a significant transformation as cutting-edge technologies like artificial intelligence and robotics are integrated into the workplace, often referred to as "Industry 4.0." This evolution is leading to a higher degree of interconnectivity, automation, and data-driven operations within the sector.

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Headquartered in England, Intercede Group PLC has declared the company signing four latest contracts worth US$2 million on September 4 with an aluminium producer located in the Middle East.

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The International Aluminium Institute (IAI), the only body representing the global primary aluminium industry, has announced a collaboration to promote technical development with the International Committee for Study of Bauxite, Alumina & Aluminium (ICSOBA).

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