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THINK ALUMINIUM THINK AL CIRCLE
The global primary aluminium segment witnessed some important events this week. To begin with, by the end of September 2022, Slovalco Aluminium will shut down its primary aluminium manufacturing line. The Adani Group, backed by Indian billionaire Gautam Adani, revealed a $5 billion investment plan last week to develop an alumina refinery there. However, the international corporation with headquarters in Ahmedabad intends to build more than merely a sizable alumina refinery. The Sichuan province in China had been affected the worst due to severe power outrage brought on by the ongoing heatwaves. As a result of this, Chinese factories are lowering their operations to help cope with energy demands. On Monday, LME aluminium official settlement price opened the week with a decline of US$79 to rest at US$2,389.50 per tonne, which was augmented by US$51 per tonne the next day to close at US$2,442 per tonne. On Wednesday, the LME aluminium official settlement price plunged by US$28 per tonne or 1.15 per cent to settle at US$2,414 per tonne.
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Slovalco Aluminium, Slovakia’s only aluminium producer, is about to terminate its primary aluminium production line by the end of September 2022. Hydro owns majority stakes at the aluminium plant and has declared that the regular recycling operations will continue.
Last week, Indian billionaire industrialist Gautam Adani-led Adani Group announced an investment proposal of around $5 billion to build an alumina refinery in the country. However, the Ahmedabad-based multinational conglomerate plans to construct more than just a giant alumina plant.
To know more: https://www.alcircle.com/news/fourth-integrated-aluminium-industry-may-emerge-in-india-83
Mike Fuge, the CEO of Contact Energy, New Zealand's largest electricity provider, predicts that Rio Tinto's Tiwai Point aluminium smelter might remain open beyond 2024 with investments in wind farms on the lower South Island.
To know more: https://www.alcircle.com/news/wind-farms-might-keep-the-tiwai-point-aluminium-smelter-operational-after-2024-83274
RUSAL, one of the world's eminent aluminium producers, approved its first corporate policy to conserve biodiversity. Rusal biodiversity conservation policy emphasizes the importance of conserving biological species, especially those under protection and their habitats.
To know more: https://www.alcircle.com/news/rusal-adopts-its-first-corporate-biodiversity-conservation-policy-83283
The Sichuan Province in China, also known as the lithium hub, will curtail the electricity supply to factories until August 20, as was reported by the state media. Extreme heat waves have been urging more people to use a lot of energy, gradually drying up the reservoirs.
To know more: https://www.alcircle.com/news/chinese-factories-lowering-operations-to-meet-residential-energy-demands-for-heat-wave-83284
Following the disparity between the labour Union, Industry Energi, and employers’ organisation, around 655 members of the Industry Energi union who also work at Hydro Sunndal will go on a strike on Monday, August 22, if employers don’t start wage talks. Norsk Hydro’s aluminium smelter in Sunndal western Norway is the largest in Europe and produces low-carbon aluminium.
To know more: https://www.alcircle.com/news/workers-at-hydro-sundal-to-go-on-another-strike-for-the-ongoing-wage-disparity-83299
This year India has celebrated ‘Azadi ka Amrit Mahotsav’, commemorating the completion of 75 years of its independence. This milestone in our national history has paved the way for an Industrial Revolution within our nation, founded on the dreams of the architects of independent India to make it one of the leading countries in the field of science and technology.
After a surprise evaluation of the New Zealand power market, the Electricity Authority has decided to restrict power companies from signing large power deals with customers unless certain conditions are met. This is applicableappliespply contracts of more than 150 megawatts, meaning power companies would not be allowed to strike a new power supply deal with the Tiwai Point aluminium smelter, without prior approval.
The Hunter region in Australia is one of New South Wales' most pWales destinations, where the aluminium smelting industry is under scrutiny as part of a Government's effort to cut greenhouse gases. The nation's largest Tomago Aluminium Smelter consumes around 11 per cent of the total energy production of NSW. However, the uppermost 200 in the country roots in about 28 per cent of Australia's greenhouse gas emissions.
To know more: https://www.alcircle.com/news/tomago-aluminium-under-govt-lens-for-industrial-pollution-83314
Sichuan province in China is facing severe power shortages brought on by the ongoing heat waves. As a result, 19 cities in Sichuan province (except Panzhihua and Liangshan) had their power cuts from August 15 and are expected to continue till August 20 to ensure that residents have a sufficient power supply.
To know more: https://www.alcircle.com/news/sichuan-power-crisis-sparks-widespread-blackout-aluminium-capacity-falls-by-395-000-tonnes-83325
Finance Secretary of Scotland has been approached by the Scottish Liberal Democrat economy speaker, Willie Rennie, as she and other individuals are concerned as to what will be the financial guarantee that the Scottish Government might provide in the event of a complete shutdown of the Lochaber aluminium smelter or its auction by the owner Sanjeev Gupta.
To know more: https://www.alcircle.com/news/uks-last-remaining-aluminium-smelter-lochaber-fears-extinction-under-government-scrutiny-83285
Nusantara is set to replace Jakarta as the capital of Indonesia, and an analyst panel has discovered that there are many potential clientele bases around Malaysian states, Sabah and Sarawak. The research arm of Kenenga Investment Bank Bhd (Kenenga Research) stated that these two states are strategically positioned distant from China and provide an indestructible intra-Asia trade route.
To know more: https://www.alcircle.com/news/nusantaras-development-to-encourage-better-trade-aiding-smelters-and-east-malaysian-ports-83288
Dynamic Concept and EPIQ Machinery are proud to announce a breakthrough in robotic solutions. Indeed, the two Quebec-based equipment manufacturers have combined their forces to co-create robotic equipment that will improve the maintenance operations of molten metal furnaces for primary and secondary aluminium smelters.
The Quebec aluminium industry has always been known for its urge to support the primary producers, equipment makers and suppliers in business by ensuring the latest innovations, open to suggestions and working together.
On Monday, LME aluminium official settlement price opened the week with a decline of US$79 to rest at US$2,389.50 per tonne, which augmented by was US$51 per tonne the next day to close at US$2,442 per tonne. On Wednesday, the LME aluminium official settlement price plunged by US$28 per tonne or 1.15 per cent to settle at US$2,414 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-price-moves-down-by-0-08-to-us2-412-t-shfe-price-declines-by-us40-t-83316
A00 aluminium ingot price in China has plummetedRMB 220 per tonne on August 19, Friday. According to the Shanghai Metals Market, the price has precisely settled at RMB 18,420 per tonne, with average prices estimated to range between RMB 18,400 per tonne and RMB 18,440 per tonne and spot contracts to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne.
New York Stock Exchange-listed Chinese state-owned companies whose audits are being scrutinized by the US securities regulator are delisting voluntarily. The Aluminum Corporation of China (Chalco), the oil giant Sinopec, China Life Insurance, PetroChina, and Sinopec Shanghai Petrochemical Co have announced they will delist their American Depository Shares this month.
To know more: https://www.alcircle.com/news/chalco-among-five-chinese-state-owned-firms-under-scrutiny-in-us-to-delist-from-nyse-83269
According to the data released by the National Bureau of Statistics on Monday, August 15, China’s primary aluminium output rose 5.6 per cent year-on-year to reach a monthly high at 3.43 million tonnes in July 2022. The previous high was 3.42 million tonnes achieved in May.
According to the Shanghai Metals Market, China’s social inventories of primary aluminium ingot across eight major consumption areas, including SHFE warrants, accumulated 5,000 tonnes over the weekend to stand at 698,000 tonnes as of Monday, August 15. But compared to the same period last year, the inventories edged 44,000 tonnes lower, found the SMM data.
In May 2022, the United States domestStates'mary aluminium production stood at 84,000 tonnes, reflecting a month-on-month increase of 2,000 tonnes or 2.44 per cent, found the US Census Bureau data. On a year-on-year calculation, the output in May 2022 edged 12 per cent or 9,000 tonnes higher than 75,000 tonnes.
Sumitomo Corporation, one of the world’s largest trading companies, has anticipated Japanese aluminium premiums to range between US$125 and US$175 a tonne next year, compared to $148 a tonne in the September quarter, unless a disruption on the domestic supply side due to production cut or supply hindrance from Russia.
In July 2022, China’s unwrought aluminium and aluminium products imports, including alloys, plunged by 38.3 per cent year-on-year to stand at 192,581 tonnes, showed the General Administration of Customs on Thursday, August 18. This shrink in imports could be attributed to the domestic production rise to a record high and overseas supply disruption.
To know more: https://www.alcircle.com/news/record-domestic-aluminium-production-in-china-led-a-fall-in-july-imports-83323
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Daiki Aluminium Industry has recorded a year-on-year increase in profit of 1.4 per cent for the first quarter of the financial year 2023 ended June 30. From 4.01 billion yen in Q1 FY2022, Daiki Aluminium’s profit decreased to 4.07 billion yen ($30.1 million) during the same period this year.
To know more: https://www.alcircle.com/news/daiki-aluminium-books-1-4-higher-profit-with-net-sales-of-72-43-billion-yen-for-1qfy23-83324
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