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THINK ALUMINIUM THINK AL CIRCLE
The global primary aluminium industry this week saw a few major updates such as the appointment of Sayed Salah Sayed Aqeel by the first aluminium smelter in the Gulf region Aluminium Bahrain B.S.C (Alba) as a new Acting Manager for Environment, Social and Governance (ESG). To strengthen Alba’s ESG transformation drive, Sayed Salah will report directly to the CEO and spearhead Alba’s soon-to-be-announced Sustainability Fully-Fledged Roadmap.
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Rusal this week announced that the company's trademark, low carbon aluminium brand ALLOW has ranked in the League of Green Brands, the first national ranking of sustainable brands. The League of Green Brands is a reputable non-governmental development institute established in Russia. The League's task is to create conditions for the systematic implementation of ESG principles and approaches in the practice of domestic companies and to promote sustainable business developments in Russia.
To know more: https://www.alcircle.com/news/rusals-low-carbon-aluminium-brand-allow-ranked-in-the-league-of-green-brands-73061
On December 6, 2021, the Indian Captive Power Producers Association (ICPPA) said that coal supplies to captive power plants (CPP) have nosedived to 40%-50% of the requirement, while the aluminium sector is among the worst hit due to the hardship and if permitted to nettle, it propels INR 1.4 lakh crores of investment towards risk.
The association has also warned that any power interruption in aluminium plants will drive fatal and complete shutdown which will take another 12 months to recover, resulting in several lay-offs.
To know more: https://www.alcircle.com/news/aluminium-sector-remains-the-worst-hit-due-to-plunge-in-coal-supplies-to-cpp-icppa-73062
On December 7, 2021, Rusal announced that it secured the silver sustainability recognition level from EcoVadis, the world’s largest and most trusted business sustainability rating provider.
The Russian aluminium giant is constantly working to enhance its environmental, social and management indicators, introducing sustainable development principles into the activities of all structural divisions and enterprises.
Veselin Pejovic, the CEO and owner of Uniprom, stated that Montenegro's KAP aluminium smelter is projected to gradually shut down due to the hostile energy prices that will come into effect from January 1, 2022. It was earlier reported that KAP was planning to cease production operations due to the inflated power costs and also the company would suffer after the expiry of its power supply contract with state-controlled power utility Elektroprivreda Crne Gore (EPCG) on January 1.
Century Aluminum Company announced this week the addition of a member to its Board of Directors. With the appointment of Jennifer Bush, the company’s total members in the Board have come to six. Bush is appointed as an independent director with an immediate effect with a term expiring at Century’s annual meeting of stockholders in 2022.
To know more: https://www.alcircle.com/news/century-aluminum-company-appoints-new-board-member-73092
Delfzijl Aluminum, commonly known as Aldel, is safeguarded from a third-time bankruptcy, but it pursues to axe several jobs. The present director of the company Chris McNamee and his company Aloft are taking over the facility in Delfzijl from the American private equity fund York Capital. However, the reorganization will be encountering 120 lay-offs from 325 permanent employees and drive Aldel to get rid of almost all its debts.
To know more: https://www.alcircle.com/news/aldel-aluminium-smelter-rescued-from-bankruptcy-new-journey-begins-with-120-lay-off-73111
National Aluminium Company Limited (NALCO) reduced its aluminium ingot and aluminium products prices with effect from Tuesday, December 7. The Navratna CPSE cut its aluminium ingot price by INR 5,600 per tonne or 2.4 per cent to INR 226,250-229,750 per tonne on December 7. On November 24, the price stood at INR 231,850- 235,350 per tonne after being surged by INR 7,800 per tonne.
To know more: https://www.alcircle.com/news/nalcos-aluminium-ingot-price-sees-a-cut-of-inr5600-t-or-2-4-since-a-hike-two-weeks-ago-73070
In November (30 days) 2021, China’s aluminium production stood at 3.07 million tonnes, reflecting a year-on-year decrease of 3 per cent, found the Shanghai Metals Market. The daily average output came in at 102,000 tonnes, flat on the month. From January to November, China’s total aluminium production amounted to 35.32 million tonnes, an increase of 4.35 per cent year-on-year.
The LME aluminium benchmark price closed the week, ended December 10, at 0.87 per cent or US$23/t lower than US$2,648 per tonne on December 3, while.the SHFE aluminium price settled 0.75 per cent or USS$22/t higher this week compared to US$2,936 per tonne on December 3. Both LME aluminium cash (bid) price and LME aluminium official settlement price opened the week on Monday, December 6, at US$2,599.50 per tonne and US$2,600.50 per tonne and closed at US$2,624 per tonne and US$2,625 per tonne.
According to the Shanghai Metals Market, social inventories of primary aluminium in China continued to shrink for the third week in a row ending December 9, 2021. Data showed the inventories decreased by 50,000 tonnes across eight major consumption areas, including SHFE warrants, to stand at 952,000 tonnes.
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