Primary aluminium weekly recap: Alba produced 1.6 million tonnes of aluminium in 2022; Alcoa resumes operations with 95% strength in its Portland Aluminium smelter
Aluminium Bahrain B.S.C. (Alba), the first aluminium smelter in the Middle East, which opened its doors in 1971, announced on January 3, 2023, that it had achieved a new historic production record of 1,600,111 tonnes in 2022, an increase of 38,889 tonnes from 1,561,222 tonnes in 2021 (+2.5% Year-on-Year). The Portland Aluminium Smelter, operated by Alcoa, with an annual capacity of 35,000 metric tonnes, commenced production on December 22. As soon as the reboot was completed, Portland Aluminium started producing close to 95 per cent of its actual capacity of 358,000 metric tonnes. Currently, Alcoa has a combined total of about 186,000 metric tonnes. According to the sources, Rusal, one of the biggest producers of low-carbon aluminium, announced that they are attempting to boost their low-carbon aluminium exports to China due to the friendly ties between the two nations and the rising demand for the metal from Chinese electric vehicles maker.
On January 03, 2023, the first aluminium smelter in the Middle East, Aluminium Bahrain B.S.C. (Alba), which started its journey in 1971, announced that it had set a new historic production record of 1,600,111 tonnes in 2022, a rise of 38,889 tonnes versus 1,561,222 tonnes in 2021 (+2.5% Year-on-Year).
To know more: https://www.alcircle.com/news/alba-produced-1-6-million-tonnes-of-aluminium-in-2022-shattering-the-previous-record-88615
On 22 December, news came floating that Alcoa’s Portland Aluminium smelter had resumed production with an annual capacity of 35,000 metric tonnes. The production was reduced up until now in the Victoria-based Australian aluminium smelter.
To know more: https://www.alcircle.com/news/alcoa-resumes-operations-with-95-strength-in-its-portland-aluminium-smelter-88609
According to our source in China, it was reported that Rusal, a significant low-carbon aluminium producer, was trying to increase its low-carbon aluminium exports to China in light of the two countries cordial relations and the growing demand for the metal from Chinese electric vehicle manufacturers.
To know more: https://www.alcircle.com/news/rusal-sees-a-demand-surge-for-low-carbon-aluminium-in-the-chinese-market-88597
On Thursday, January 5, both LME aluminium cash bid price and LME aluminium official settlement price gained US$19 per tonne or 0.84 per cent and US$20 per tonne or 0.88 per cent to stand at US$2,268 per tonne and US$2,270 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-gains-us20-t-to-us2-270-t-shfe-price-drops-by-us27-t-88639
On Tuesday, January 3, Vedanta Limited announced its aluminium production recorded a drop of 2 per cent over a quarter to stand at 566,000 tonnes in the third quarter of the current financial year. In Q2 FY2023, Vedanta’s aluminium output was 584,000 tonnes, reflecting a 2 per cent rise sequentially.
To know more: https://www.alcircle.com/news/vedanta-limited-reports-a-2-q-o-q-drop-in-aluminium-production-for-3qfy23-88616
In November 2022, primary aluminium production in North America stood at 308,000 tonnes, reflecting a drop of 5,000 tonnes or 1.60 per cent M-o-M following an increase in the previous month, found the International Aluminium Institute. In October 2022, the output grew by 12,000 tonnes or 4 per cent sequentially from 301,000 tonnes to 313,000 tonnes.
The world’s leading exporter of thermal coal, PT Adaro Energy Indonesia Tbk, plans to begin constructing the aluminium smelter in North Kalimantan this year and anticipates accomplishing it within two years or maximum, by 2025.
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