Primary aluminium weekly recap: Mahanadi Coalfields wants Government approval of INR 34,072 crore in Greenfield aluminium project

The primary aluminium sector has been busy with various crucial activities last week. As the world moves toward a sustainable, carbon-free future, energy-intensive industries must turn their production lines greener to achieve Net Zero. The Chalco Qinghai Branch was among the top Ten Chinese Companies to receive the "Green Power Aluminium Evaluation Certificate" for using sustainable energy to make electrolytic aluminium products. The initiative aims to promote eco-friendly and high-quality development within the industry. Mahanadi Coalfields Limited wants to invest INR 34,072 crore in a Greenfield aluminium project in Odisha. The project will include a refinery, smelter, and power plant, and the company plans to extract bauxite to produce aluminium ingots. They plan to inject INR 10,222 crore as equity and are seeking exemption from investment limits set by the Department of Public Enterprises. The LME aluminium official price on Monday, August 21, was US$2,068.50 per tonne, which escalated by US$51 per tonne or 2.46 per cent on a Week-on-Week scale to reach US$2,119.50 per tonne on August 24, Friday. Also, the SHFE aluminium closing price stopped at US$2,562 per tonne on Friday, August 24, levitating by US$38 per tonne or 1.5 per cent Week-on-Week from US$2,524 per tonne on Monday, August 21.

As the year's first half almost winds up, AL Circle feels excited to announce the launch of its latest panoramic report, Digital Transformation in the Aluminium Industry, which cites the major digital upgrades in the aluminium value chain and justifies its usage. The report features a comprehensive study on data analytics, automation, IoT (Internet of Things), AI, Industry 4.0, blockchain and deep learning.

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On Friday, August 18, Alcoa Corporation, the world’s eighth-largest aluminium producer, announced the renewal of the agreement with AGL Energy Limited (AGL) to source 300 megawatts of power for its Portland Aluminium Smelter in Victoria.

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According to data from the London Metal Exchange, inventories of aluminium in registered warehouses have increased to their highest level in over a month. This is due to the inflow of 38,725 tonnes into South Korea, presently stored at the Gwangyang port.

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As per the data laid out by International Aluminium Institute (IAI), it can be witnessed that China had a massive haul of 38,837,000 tonnes of primary aluminium in 2021, which grew by 1,593,000 tonnes over a year to reach 40,430,000 tonnes in 2023. In Q1 2022, the total primary aluminium production in China was 9,590,000 tonnes, and in Q1 2023, it was 10,019,000 tonnes, meaning there has been a growth of 429,000 tonnes.

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China’s Beijing, Tianjin and the Hebei region has endured significant rains since July 29 due to typhoon "Dusuri." In this respect, the Prevention and Rescue Headquarters of Minmetals Nonferrous North China Aluminium Co., Ltd. (hereafter referred to as North China Aluminium) reacted fast, "a game of chess", to establish a safety barrier.

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The initial roster of Chinese enterprises awarded the "Green Electricity Aluminium Product Evaluation Certificate" and "Green Electricity Aluminium Procurement Certificate" was disclosed on July 4^th, 2023. Among the pioneers, Chalco Qinghai Branch secured its position as one of the premier ten companies nationwide to successfully meet the standards for green power aluminium assessment. Notably, it is the sole entity within the Chinalco group to attain the esteemed "Green Power Aluminium Evaluation Certificate."

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According to China customs data, unwrought aluminium and products imports into China grew significantly by 20.1 per cent year-on-year to reach 231,452 tonnes in July 2023. Limited domestic stocks and expectations for robust demand in autumn drove the rise of China's aluminium imports.

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Amid shifting market dynamics and a tempered macro outlook this year, Dongxing Aluminium has harnessed the power of proactive tactics. With its "three grasps and three promotions" strategy as a cornerstone, the company has focused on maximizing gains while minimizing costs.

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According to a recent report, Citigroup Inc., an American multinational investment bank and financial services corporation, has bought about $160 million worth of Russian aluminium, produced at Rusal, from the London Metal Exchange.

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South32, with its heterogeneous mining portfolio, has recorded a 20% revenue plunge in FY 2023 ending in June, with the company incurring a loss of $173 million preceded by a non-cash impairment of $1.3 billion for its Taylor deposit at the Hermosa project.

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According to the International Aluminium Institute (IAI), total primary aluminium production in July 2022 was 5.889 million tonnes, which dropped by 28,000 tonnes or 0.47 per cent to officially close at 5.861 million in July 2023.

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Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited (CIL), awaits government approval to invest INR 34,072 crore in an integrated Greenfield aluminium project in Odisha. The project will have a 2 million tonnes alumina refinery, a 0.5 million tonne aluminium smelter, and a 1,400 megawatts captive power plant.

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On August 17, CITIC Resources announced the signing of a new electricity hedging agreement (the “2026 EHA”) with Alcoa’s Portland Aluminium smelter in Australia. This new deal will be active from 1 July 2026 till 30 June 2035, supplying almost 300 MW of electricity to Portland Aluminium smelter.

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Qingtongxia Aluminium Industry Co., Ltd, a subsidiary owned by Ningxia Energy Aluminium Co., Ltd. and recognized as a prominent state-owned enterprise within China's Nonferrous Metals Industry, has officially commenced its operational activities. This milestone signifies the transformation of Qingtongxia Aluminium into the inaugural 5G-integrated smart factory within the domestic electrolytic aluminium sector.

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The smart software developer tailored for the manufacturing industry and beyond, AVEVA, invites you to participate in the electrifying event AVEVA World in San Francisco - designed specifically for the industrial community. The event this year will return to the Moscone West Convention Center in San Francisco, California, USA and is scheduled to take place on October 23-26, 2023.

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Aluminium is the second most extensively used metal in contemporary society, after steel. Due to its varied features, it has experienced substantial growth in usage in recent decades in transportation, construction, packaging, and electrical engineering. For decades, the aluminium sector has had a bad reputation for being locked in the same technical paradigm. The emergence of digital transformation technology is slowly but surely chipping away at this unfavourable image. Aluminium smelters use cutting-edge digital technologies such as AI, Machine Learning, IoT, and Remote Sensing to automate and enhance their decarbonisation efforts.

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The Shanghai Metals Market (SMM) on Friday, August 25, reported that China's A00 aluminium ingot price has gained RMB20 per tonne to score at RMB 18,830 per tonne, with the average prices standing between RMB 18,810 per tonne and RMB 18,850 per tonne. The spot contract price is expected to be traded at a premium price of RMB 170 per tonne and RMB 210 per tonne.

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On August 24, the LME aluminium live price chart showed slightly dampening traits, with the LME aluminium cash bid price and the LME aluminium official price lowering by US$9.50 per tonne or 0.45 per cent. 

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