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THINK ALUMINIUM THINK AL CIRCLE
This week during June 7-11 has been eventful for the primary aluminium market as well as for AlCircle as the latter could announce the first set of confirmed participants for the upcoming AlCircle Expo 2021. Coming to the market news, Chinese aluminium giant Chinalco announced its aim of bringing the group’s carbon emissions to a peak before 2025. What else? A00 aluminium ingot price in China trended up this week from RMB 18,530 per tonne to RMB 18,830 per tonne, and so the global aluminium benchmark price on the LME from US$ 2,417.50 per tonne to US$ 2,470 per tonne.
Without any further ado, let us now quickly recapitulate all the major happenings in the primary aluminium market this week.
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From June 7 to June 10, both LME aluminium cash (bid) price and LME official settlement price rallied from US$ 2,417.50 per tonne to US$ 2,470 per tonne amid decreasing LME aluminium opening stock from 1676100 tonnes to 1640500 tonnes. 3-months bid price and 3-months offer price closed at US$ 2,447.50 per tonne.
SHFE aluminium price also showed an uptrend from US$ 2,897 per tonne on June 7 to US$ 2,956 per tonne on June 11.
To know more: https://www.alcircle.com/news/three-month-lme-aluminium-closed-higher-at-us2-478-t-shfe-aluminium-advanced-0-35-67531
A00 aluminium ingot price in China expanded from RMB 18,530 per tonne on June 4 to US$ 18,830 per tonne on June 11. On Friday, the average prices were expected to range between RMB 18,810 per tonne and RMB 18,850 per tonne, with spot contract to be traded at a premium price of RMB 30-10 per tonne.
China’s primary aluminium inventories this week shed 35,000 tonnes or 3.67 per cent across eight major consumption areas, including SHFE warrants, to stand at 919,000 tonnes, found the SMM data.
To know more: https://www.alcircle.com/news/primary-aluminium-inventories-in-china-stand-3-67-lower-at-919-000-tonnes-on-june-10-smm-67525
Indian aluminium major Vedanta Limited increased its aluminium ingot price on June 9 for the second time in a row since it last cut the price on June 4. So, with effect from June 9, the company’s aluminium ingot price came in at INR 205,000-218,000 per tonne, up INR 1,500 per tonne from the previous day. On June 10, Vedanta further expanded the price by INR 2,000 per tonne to INR 207,000-220,000 per tonne.
To know more: https://www.alcircle.com/news/vedantas-aluminium-ingot-price-sees-a-rise-of-inr1500-t-with-effect-from-june-9-66523
https://www.alcircle.com/news/vedanta-further-hikes-its-aluminium-ingot-price-by-inr-2-000-t-67521
Russian aluminium producer Rusal 0486.HK has targeted the first quarter of 2022 as its timeline to complete the demerger of higher-carbon assets into a separate company. This news came after the company’s head of strategy Oleg Mukhamedshin officially told Reuters. En+ Group, which own 56.9 per cent of Rusal, supports the demerger of assets with a pro-rate distribution of shares among all shareholders.
The assets, which will form a new company, yet to be named, consist of five older aluminium smelters, four alumina refineries and two bauxite mines in Russia.
To know more: https://www.alcircle.com/news/rusal-targets-1q2022-to-spin-off-its-higher-carbon-assets-66497
The Government of Canada invested in improving energy efficiency to achieve net-zero emissions by 2050. The Honourable Seamus O'Regan Jr., Minister of Natural Resources spent $40,000 to Alcoa Canada for an energy information system to cut energy costs and greenhouse gas emissions at its Deschambault aluminum smelter.
To know more: https://www.alcircle.com/news/canada-aims-to-achieve-net-zero-emissions-by-2050-at-aluminium-sector-with-new-investments-66495
China’s primary aluminium production climbed month-on-month to stand 2.15 per cent higher in May 2021, found the Shanghai Metals Market. According to the data, the output in May (31 production days) stood at 3.32 million tonnes against 3.25 million tonnes in April (30 days). On a year-on-year calculation, production in May stood 7.95 per cent higher.
To know more: https://www.alcircle.com/news/chinas-primary-aluminium-production-climbs-2-15-month-on-month-to-reach-3-32mt-in-may-2021-67522
Vedanta Aluminium and Power Business has released its maiden Sustainable Development Report, which covers the Business’ performance across key sustainability parameters such as Energy Management, Water Management, Biodiversity Management, Air Quality, Health & Safety, Social Impact and Governance etc for the FY 2019-20 performance period.
To know more: https://www.alcircle.com/news/vedanta-aluminium-announces-the-launch-of-its-maiden-sustainable-development-report-66512
China’s Tsingshan Holding Group has planned to increase aluminium production in Indonesia in 2023 as the group diversifies operations in the country, CRU senior consultant Ying Dai said. The group will reportedly ramp up capacity to 500,000 tonnes per year in 2023.
To know more: https://www.alcircle.com/news/tsingshan-holding-group-to-expand-aluminium-production-capacity-in-indonesia-in-2023-66520
Aluminium Corporation of China (Chinalco), the state-owned biggest aluminium producer, has announced that it aims to bring the group’s carbon emissions to a peak before 2025, in line with the country’s climate goals. The aluminium giant has also targeted 2035 as its timeline to cut 40 per cent of carbon emissions, as said in an action plan released on Tuesday, June 8.
To know more: https://www.alcircle.com/news/chinese-aluminium-giant-chinalco-targets-to-reach-carbon-peak-before-2025-67517
AlCircle is excited to welcome you all to its second virtual event “AlCircle Expo 2021” as much as you are for attending it. On this note, we are elated to announce the first set of names who have confirmed their participation as exhibitors & sponsors. The event will virtually take place on June 29 & 30, from 9AM to 5PM GMT.
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