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THINK ALUMINIUM THINK AL CIRCLE
The primary aluminium sector was extremely active this week, with big aluminium companies like EGA, Alba, Vedanta, INALUM and many other prominent ones extending hands in collaboration for a better sustainable future. Emirates Global Aluminium and PT Indonesia Asahan Aluminium (INALUM) have signed a deal under which the former will be lending operational expertise to properly develop INALUM’s Brownfield aluminium smelter. Similarly, EGA signed an MoU with Japanese ITOCHU Corporation to support and complement each other’s capacity in building UAE’s industrial infrastructure. To keep up with the modernising world, Vedanta Aluminium has introduced an Internet of Things (IoT)-based technology for cooling water analysis and total water usage reduction at its power facilities in Jharsuguda, Odisha.
A fatal incident at the St Gallen factory in Switzerland occurred when a 25-year-old electrician almost lost his life after falling inside a 720 °C tub of molten aluminium. The man not only survived, but remarkably enough, he dragged himself out of his obvious predicament.
To know more: https://www.alcircle.com/news/electrician-survives-the-great-fall-into-a-720-c-tub-of-molten-aluminium-switzerland-87097
The 2022 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP27, is the 27th United Nations Climate Change Conference and is being held from November 6 until November 18 2022, in the Egyptian resort town, Sharm El-Sheikh.
On November 13, 2022, the Indonesian large-cap house Adaro stated that PT Adaro Minerals Indonesia Tbk inked a memorandum of understanding (MoU) with South Korea's auto giant Hyundai Motor Company on aluminium supply for automobile manufacturing.
To know more: https://www.alcircle.com/news/korean-automaker-hyundai-motor-inks-aluminium-supply-agreement-with-indonesia-s-adaro-87103
Aluminium Bahrain, one of the world's largest aluminium smelters ex-China, reached the financial close on its Power Station 5 Block 4 project. The virtual signing ceremony with Sinosure was held on Monday, November 14. The $225 million facility is supported by the China Export and Credit Insurance Corporation (SINOSURE), has a 15-year tenor, competitive interest rates, and the principal will be repaid over that time, plus a three-year grace period.
To know more: https://www.alcircle.com/news/alba-announces-the-financial-closure-of-its-power-station-5-block-4-project-87124
Emirates Global Aluminium (EGA) and PT Indonesia Asahan Aluminium (INALUM) have signed a contract, which will give EGA the sole right to licence its technology developed in the UAE to INALUM for the expansion of the Indonesian company's Brownfield aluminium smelter as well as the right to invest in the project and offtake metal.
Michael Parson, the Governor of the State of Missouri in the United States of America, visited Emirates Global Aluminium's (EGA) Al Taweelah facility in Abu Dhabi. EGA is the largest industrial firm outside of oil and gas in the United Arab Emirates.
To know more: https://www.alcircle.com/news/egas-al-taweelah-facility-welcomes-michael-parson-the-governor-of-missouri-87151
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a slump of 29,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, on Thursday, November 17, the inventories totalled 547,000 tonnes, which in comparison with the month’s second Monday, November 14, dropped further by 6,000 tonnes.
Vedanta Limited hiked its aluminium ingot and aluminium products prices, with effect from Saturday, November 12, after a cut by INR 6,250 per tonne on the previous day. On November 12, Vedanta’s aluminium ingot price saw an expansion of INR 9,250 per tonne from INR 215,250-246,250 per tonne to INR 224,500-255,500 per tonne.
To know more: https://www.alcircle.com/news/vedantas-aluminium-ingot-price-sees-a-hike-of-inr9250-t-with-effect-from-november-12-87114
The National Bureau of Statistics revealed China’s primary aluminium production in October 2022 increased by 9.5 per cent year-on-year, bolstered by the ease of power consumption curb than the previous year and growing exports. NBS data showed the country produced 3.45 million tonnes of the metal, marking a rise for the eighth straight month compared to 2021 numbers.
On November 14, 2022, ALRO S.A., one of Europe's largest vertically integrated aluminium producers, measured by production capacity, reported its consolidated financial results for the nine months that ended September 30 2022.
To know more: https://www.alcircle.com/news/diversifying-alro-group-s-business-model-led-to-higher-turnover-in-1-3q-2022-87122
Hindalco Industries Limited has extended its aluminium ingot and aluminium products price hike, with effect from Wednesday, November 16, although at a lower rate than November 12. Hindalco has expanded its aluminium ingot price by INR 2,000 per tonne from INR 222,250 per tonne on November 12 to INR 224,250 per tonne on November 16.
To know more: https://www.alcircle.com/news/hindalco-expands-its-aluminium-ingot-price-by-inr2000-t-with-effect-from-november-16-87138
National Aluminium Company Limited (NALCO) has continued to increase it's aluminium ingot and aluminium products prices, for the third time in a row, with effect from Thursday, November 16. The company has hiked its aluminium ingot price by INR 5,600 per tonne or 2.5 per cent from INR 222,350- 225,850 per tonne on November 10 to INR 227,950-231,450 per tonne on November 16.
Emirates Global Aluminium (EGA), the world's largest 'premium aluminium' producer, has recorded yet another milestone. The company has produced 40 million tonnes of hot metal since its operations in 1979. As a result, roughly 3 per cent of all aluminium made in the UAE has been by EGA.
To know more: https://www.alcircle.com/news/ega-unlocks-milestone-produces-40-million-tonnes-of-hot-metal-since-its-start-up-in-1979-87107
To explore the viability of developing a new high-purity aluminium (HPA) manufacturing plant in North America, Orica and Alpha HPA Limited have established a non-binding Memorandum of Understanding (MoU) and acquired a 5 per cent ownership stake in the company.
The Sohar Free Zone in Oman has gladly accepted the opening of the Sanvira carbon plant with a manufacturing capability of 600,000 tonnes of calcined petroleum coke yearly and 24 megawatts of electricity generated by the steam force.
To know more: https://www.alcircle.com/news/omans-sohar-free-zone-welcomes-new-calcined-petroleum-coke-plant-sanvira-87157
On November 18, Emirates Global Aluminium, the grandest industrial enterprise in the United Arab Emirates, excluding the oil and gas sector and ITOCHU Corporation of Japan bonded over a Memorandum of Understanding under which the companies would nurture and create joint projects in the UAE. This initiative is very crucial for UAE’s Operation 300 billion industrial growth scheme.
To know more: https://www.alcircle.com/news/ega-signs-mou-with-japans-itochu-closely-operating-joint-industrial-projects-87163
India's largest aluminium producer, Vedanta Aluminium, implemented Internet of Things (IoT)-based technology for cooling water analysis and total water usage reduction at its power facilities in Jharsuguda, Odisha. These power plants employ a network of cooling towers with natural draughts and a water-based recirculating cooling system.
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