Primary aluminium weekly recap: Ghana eyes to become an integrated aluminium producer; Balco bids green, introduces biomass briquettes to generate power

The price of aluminium on the London Metal Exchange (LME) dropped dramatically as a result of sluggish economic development, which further reduced the market's demand for the metal. Also, China's interest rate rise had been aided by the second wave of Covid-19 lockdowns. As a result of this, On Monday, June 13, LME aluminium cash bid price and LME aluminium official settlement price opened the week with a major downfall of US$105.5 per tonne or 3.91 per cent, which further went down by US$2 per tonne on Tuesday to settle at US$2,587 per tonne. Apart from this, the news of Bharat Aluminium Company Limited (BALCO), employing biomass briquettes as a fuel mix to increase the sustainability of thermal power generation, has garnered a significant response. Also, the news of Ghana planning to establish an integrated aluminium sector showed that the primary sector of the aluminium industry is evolving with each passing day.

The subsidiary of Vedanta Aluminium Business and India’s iconic aluminium producer, Bharat Aluminium Company Limited (BALCO) is using biomass briquettes as a fuel mix, to improve the sustainability of thermal power generation.

To know more: https://www.alcircle.com/news/balco-bids-green-introduces-biomass-briquettes-to-generate-power-80674

Ghana, popularly known for abundant bauxite reserves, is now reportedly aiming at creating an integrated aluminium industry in the country, said Ghana Lands and Natural Resources minister Samuel Jinapor on Monday, June 13.

To know more: https://www.alcircle.com/news/ghana-eyes-to-become-an-integrated-aluminium-producer-seeks-strategic-partner-to-upgrade-valcos-smelter-80680

The international energy, real estate and transport law firm, Watson Farley & Williams (“WFW”) had advocated Greenalia on the negotiation and execution of a long-term power purchase agreement (“PPA”) to supply up to 183 MW of baseload wind energy to Alcoa’s San Ciprián aluminium smelter in Spain.

To know more: https://www.alcircle.com/news/wfw-advises-independent-renewable-energy-producer-greenalia-on-183-mw-ppa-with-alcoa-for-san-ciprian-aluminium-smelter-80695

This week, LME aluminium cash bid price and LME aluminium official settlement price reported significant downfall as a result of sluggish economic development, which further reduced the market's demand for the metal. On Monday, June 13, LME aluminium cash bid price and LME aluminium official settlement opened the week with a major downfall of US$105.5 per tonne or 3.91 per cent, which further went down by US$2 per tonne on Tuesday to settle at US$2,587 per tonne.

To know more: https://www.alcircle.com/news/lme-aluminium-price-plunges-by-us79-5-t-to-us2-500-50-t-shfe-price-slumps-by-us62-t-80710

China’s A00 aluminium ingot price opened the week on Monday with a plunge of RMB 400 per tonne to stop at RMB 20,100 per tonne, which went on to drop further by RMB 3 per tonne on the next day to settle at RMB 2,957 per tonne.

To know more: https://www.alcircle.com/press-release/chinas-a00-aluminium-ingot-price-plunges-by-rmb250-t-to-close-the-week-below-rmb20-000-t-bauxite-price-drops-by-rmb2-50-t-80712

National Aluminium Company Limited (NALCO) again slashed INR 10,300 per tonne like last week from its aluminium ingot and aluminium products prices, marking the third consecutive cut since May 28. With effect from June 16, NALCO’s aluminium ingot price came in at INR 233,650-237150 per tonne versus INR 243,950 – 247,450 per tonne on June 8.

To know more: https://www.alcircle.com/news/nalco-repeats-the-cut-of-inr10300-t-from-its-aluminium-ingot-products-prices-with-effect-from-june-16-80713