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THINK ALUMINIUM THINK AL CIRCLE
The primary aluminium industry witnessed a lot of significant incidents this week. From the LME aluminium price opening the week with an escalation to the news of Rio Tinto resolving tax disputes with the Australian taxation office, the metal market as a whole had been going through lots of ups and downs. Because aluminium as a metal is one of the most popular metals in the industry, it is always under the radar. To begin with Ford Motor Company and Rio Tinto are establishing a non-binding Memorandum of Understanding (MoU) to work together to create supply chains for batteries and low-carbon components used in Ford cars that are more secure and sustainable. Aditya Aluminium, a subsidiary of Hindalco that runs a smelter and power plant complex at Lapanga in Sambalpur, had been given the task of reviving water bodies and conserving flowing water, wastewater, and rainwater in the Rengali Block residential area. In the current fiscal year, Vedanta had been planning to activate two coal blocks in Odisha and speed up the operational response of a second coal mine in the east. Under the market segment, the LME aluminium benchmark price opened the week with an escalation of US$57 per tonne to close at US$2,377.50 per tonne, followed by a further hike on Tuesday by US$34.5 per tonne to halt at US$2,412 per tonne.
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A non-binding memorandum of understanding (MoU) is being signed between Ford Motor Company and Rio Tinto to jointly develop more sustainable and secure supply chains for batteries and low-carbon materials used in Ford vehicles. As part of the multi-material partnership, Ford, one of the world's largest automakers, will receive lithium, low-carbon aluminium, and copper. Rio Tinto is an international mining and metals company committed to helping customers decarbonize their value chains.
To know more: https://www.alcircle.com/news/rio-tinto-inks-mou-with-ford-motor-for-low-carbon-aluminium-supply-82044
The response to IBAAS 2022 conference and exhibition is overwhelming as about 60 companies/organizations have already confirmed their participation. More than 50 abstracts and about 30 technical papers have been received so far for this mega bauxite, alumina and aluminium event. Organizers are expecting about 250 delegates from all over the world and arrangements are being made at Courtyard Marriott in Raipur for the 4 days conference and exhibition.
To know more: https://www.alcircle.com/press-release/ibaas-jnarddc-2022-scheduled-from-september-14-17-is-fast-approaching-82041
Rio Tinto has acknowledged and managed disputes with the Australian Taxation Office (ATO) over all the impending tax issues. This decree will put a cap on the duel over interests on singular loans utilised to settle payments for an intragroup dividend in 2015.
To know more: https://www.alcircle.com/news/rio-tinto-resolves-tax-dispute-with-australian-taxation-office-82040
According to a report on Wednesday, July 20, the Tiwai Point aluminium smelter will launch a recruitment campaign next week. The news came after New Zealand Aluminium Smelter’s chief executive and general manager Chris Blenkiron announced it, adding that attracting new staff or retaining old ones was a challenge at the Tiwai smelter, compounded by ongoing disruptions from COVID-19 and other illnesses.
To know more: https://www.alcircle.com/news/new-opportunities-open-up-in-southland-as-the-tiwai-point-aluminium-smelter-hires-82025
Alcore the brainchild of ABx Group has successfully authorised the construction of three laboratory reactors in its quest to yield a high-value essential material, aluminium fluoride used in aluminium smelting extracted from a smelter residue.
Emirates Global Aluminium has received a prestigious recognition ‘Green Industries’ label by the Environment Agency – Abu Dhabi (EAD) for the environmental performance at the Al Taweelah site. The Green Industries labelling programme is a new initiative by EAD to appreciate outstanding environmental performance across Abu Dhabi industries.
This financial year, Vedanta is on an expedition to activate two coal blocks in Odisha and is also plotting to quicken the operational instinct of another coal mine located in the eastern region. In recent times and primarily last year, thermal power plants and the non-regulated sectors have experienced power supply shortages, thrusting Vedanta to emphasise more on the long-term availability of coal.
Hindalco’s Aditya Aluminium that a operates smelter and power plant complex at Lapanga in Sambalpur has taken up the responsibility to revive water bodies and conserve running water, wastewater and rainwater in the Rengali Block habitation area.
To know more: https://www.alcircle.com/news/aditya-aluminium-initiates-to-restore-water-bodies-in-odishas-rengali-block-region-81993
National Aluminium Company Limited has escalated its aluminium ingot and aluminium products prices by INR 11,300 per tonne or 2.6 per cent, since the last cut on July 15. With effect from Thursday, July 21, NALCO’s aluminium ingot price has come in at INR 227,650-231,150 per tonne versus INR 221,750-225,250 per tonne on July 15.
To know more: https://www.alcircle.com/news/nalco-escalates-its-aluminium-ingot-price-by-inr11300-t-with-effect-from-july-21-82054
A00 aluminium ingot price has seen an RMB 150 per tonne rise to close the week at RMB 17,990 per tonne, as recorded by the Shanghai Metals Market on Friday, July 22. The average prices are expected to range between RMB 17,970 per tonne and RMB 18,010 per tonne, with spot contracts trading at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne.
According to the Shanghai Metals Market, primary aluminium inventories continued to decrease over the weekend ended July 18 by 15,000 tonnes across eight major consumption areas in China, including SHFE warrants. As per the data, inventories came in at 682,000 tonnes as of July 18, compared to 697,000 tonnes on July 14.
To know more: https://www.alcircle.com/news/primary-aluminium-inventories-in-china-further-shrink-over-the-weekend-to-682-000-tonnes-82016
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