Primary aluminium weekly recap: Rio Tinto spent A$15.3 billion towards community growth in 2022; Africa’s primary aluminium production records a monthly decline of 9% in Feb’23

To assist the communities where it works, Rio Tinto upped its budget for spending on Australian suppliers to more than A$15.3 billion in 2022. Over 6,200 firms, comprising Australian-owned and run companies and locally owned and controlled offices of foreign corporations, shared an increase in the budget of over 9 per cent from the previous year. According to customs statistics, China imported 374,321 tonnes of unwrought aluminium and goods in the first two months of 2023 compared to 336,007 tonnes in the same time last year. These items included raw metal and unwrought, alloyed aluminium. According to the International Aluminium Institute, Africa's primary aluminium output in February 2023 was 130,000 tonnes, a decrease of 13,000 tonnes or 9.09 per cent month-over-month.

Rio Tinto increased its expenditure budget on Australian suppliers to more than A$15.3 billion in 2022 to support communities where it operates. Rio raised its budget by almost 9 per cent than the previous year and equally distributed among more than 6,200 businesses, including Australian-owned and operated businesses and locally owned and managed branches of overseas companies. 

To know more: https://www.alcircle.com/news/rio-tinto-spent-a15-3-billion-towards-community-growth-in-2022-92295

In February 2023, Africa's primary aluminium production stood at 130,000 tonnes, reflecting a plunge of 13,000 tonnes or 9.09 per cent month-on-month, found the International Aluminium Institute. But in January, the output edged 3,000 tonnes or 2.10 per cent higher at 143,000 tonnes, compared to 140,000 tonnes in December 2022.

To know more: https://www.alcircle.com/news/africas-primary-aluminium-production-records-a-monthly-decline-of-9-in-feb23-daily-output-stands-restrained-92341

Customs data showed China imported 374,321 tonnes of unwrought aluminium and products, including primary metal and unwrought, alloyed aluminium, in the first two months of 2023, compared to 336,007 tonnes during the same period last year.

To know more: https://www.alcircle.com/news/chinas-jan-feb-aluminium-imports-grow-11-3-y-o-y-thanks-to-industrial-recovery-post-covid-restriction-ease-92301

The Yunnan province contributes around 10 per cent of China's total aluminium smelting capacity. However, this needs to be noted that the production cutback has the potential to have far-reaching ramifications across a wide range of industries.

To know more: https://www.alcircle.com/news/hydropower-shortage-in-yunnan-propels-aluminium-producers-to-scale-down-output-92298

When western countries turned back on Russian aluminium, China nearly doubled its imports from Russia. According to the data recently released by China customs, the country's imports of refined aluminium from Russia surged 94 per cent year-on-year to about 538,600 tonnes from March 2022 to February 2023, a record annual volume on a moving-average basis.

To know more: https://www.alcircle.com/news/chinas-aluminium-imports-from-russia-nearly-double-in-last-12-months-to-538-600-tonnes-92325

Axess Technologies, a wholly-owned subsidiary of Axess Group that provides engineering and material handling solutions to leading manufacturers, has won a contract to supply four service cranes to Hydro's Sunndal aluminium smelter in Norway.

To know more: https://www.alcircle.com/news/service-cranes-for-hydro-s-sunndal-aluminium-smelter-go-to-axess-technologies-92351

On Thursday, March 23, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$32.5 per tonne or 1.45 per cent and US$33 per tonne or 1.47 per cent to stand at US$2,264 per cent and US$2,265 per tonne.

To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-hikes-by-us33-t-to-us2-265-t-shfe-price-moves-up-by-us5-t-92356

A00 aluminium ingot price has augmented by RMB 170 per tonne, officially closing at RMB 18,320 per tonne, as the Shanghai Metals Market recorded on March 24, Friday. The average prices are expected to range between RMB 18,300 per tonne and RMB 18,340 per tonne, with spot contracts trading at discount prices of RMB 80 per tonne and RMB 40 per tonne. 

To know more: https://www.alcircle.com/press-release/chinas-a00-aluminium-ingot-price-marks-sudden-surge-of-rmb170-t-high-purity-aluminium-price-jumps-rmb200-t-92355

In February 2023, the world's primary aluminium production totalled 5.273 million tonnes, reflecting a second consecutive drop this year. Compared to 5.823 million tonnes in January 2023, the world's primary aluminium output recorded a decrease of 9.45 per cent month-on-month, found the International Aluminium Institute.

To know more: https://www.alcircle.com/news/worlds-primary-aluminium-production-in-february-drops-for-the-second-month-this-year-to-5-273-mt-92319