This week the primary aluminium sector has marked various shortcomings, with Slovalco closing the only aluminium smelter in Slovakia after 70 years of successful operation. The rising energy crisis in Europe and the impending effects of the Russia-Ukraine crisis have started showing their shades because, on January 11, Riyadh-based Ma'aden also declared that due to operational issues, the company is going to curtail production at its aluminium smelter which it jointly owns with Alcoa. On the same day, there was another important news, but fortunately, this was a good one. A certain Aluminium Dunkerque operative assured sources that the European smelter would resume aluminium production after a yearlong closure attributed to augmenting electricity prices last year. Both LME and SHFE have seen escalating aluminium prices throughout the week. LME official aluminium price began the week with last Friday's US$2,242.50 per tonne accumulation and closed the bar with US$2,447 per tonne on Thursday, escalating by 9.12 per cent or US$204.50 per tonne over this week. In SHFE's case, the aluminium price was at US$2,634 per tonne on Monday, and it went on soaring higher by Friday when it stood at US$2,735 per tonne, with 3.83 per cent or US$101 per tonne gain at the end of the week.
Slovakia's sole aluminium producer, Slovalco, is closing its smelters after 70 years of operation. Slovalco, based in the central Slovak town of Žiar nad Hronom, stated that after decades of operation, it could no longer afford to operate its last ten remaining furnaces. However, Slovakia will be forced to procure aluminium from foreign sources in the absence of the producer.
To know more: https://www.alcircle.com/news/slovak-aluminium-producer-slovalco-to-shut-down-after-70-years-in-business-88672
Multiple Chinese aluminium smelters in Guangdong are shutting down prior to the Spring Festival holiday this year, whereas other players are recalibrating their output goals for the prevailing times. All this is due to a plunge in the domestic demand for aluminium in the recent weeks.
To know more: https://www.alcircle.com/news/guangdong-aluminium-smelters-shut-down-ahead-of-spring-festival-amidst-low-demand-88679
Duan Xiangdong is appointed as the new chairman of the state-owned Aluminum Corp. of China, the largest producer of aluminium in the world. From October 2021 until this month, Duan served as general manager, deputy party secretary, and director of China First Heavy Sectors Co. Ltd., a state-owned business (SOE) that makes heavy machinery for the mining, petrochemical, and steelmaking industries.
To know more: https://www.alcircle.com/news/aluminum-corp-of-china-appoints-duan-xiangdong-as-its-new-chairman-88681
The first aluminium smelter in the Sultanate of Oman, Sohar Aluminium, announced the appointment of Ricardo Fontes Santana as Chief Financial Officer (CFO). He holds a Bachelor's degree in Economics from the State University of Rio de Janeiro and an MBA from Brazil's Universidade Federal Fluminense.
To know more: https://www.alcircle.com/news/sohar-aluminium-appoints-ricardo-fontes-santana-as-chief-financial-officer-88683
On December 10, 2023, the global industry leader with a vision to reinvent the aluminium industry for a sustainable future, Alcoa Corporation, announced a restructuring of its 'Executive Leadership Team' to further improve the Company's rigorous focus on operational excellence, cost, and innovation.
On January 11, 2023, one of the largest aluminium smelters in Europe, Aluminium Dunkerque's spokesperson, said that the primary aluminium producer had begun resuming production capacity that had been idled when it was stung by skyrocketing electricity prices last year.
To know more: https://www.alcircle.com/news/aluminium-dunkerque-to-reactivate-its-idled-capacity-88702
The Saudi Arabia state-owned mining company headquartered in Riyadh, Ma'aden, announced on Wednesday that due to operational issues, the company had curtailed output at the aluminium smelter it jointly owns with Alcoa Corp., but the firm is currently scaling output back up.
To know more: https://www.alcircle.com/news/ma-aden-curtails-output-at-its-aluminium-smelter-due-to-operational-issues-89692
According to the Shanghai Metals Market, social inventories of primary aluminium accumulated 46,000 tonnes over the weekend across the eight major Chinese consumption areas, including SHFE warrants, as of Monday, January 9. The inventories have come in at 622,000 tonnes versus 576,000 tonnes on Thursday, January 5.
Vedanta Limited has lifted its aluminium ingot and aluminium products prices by INR 7,750 per tonne, with effect from Tuesday, January 10. That has brought the company’s aluminium ingot price to INR 222,750-253,250 per tonne versus INR 215,000-245,500 per tonne on January 7.
To know more: https://www.alcircle.com/news/vedanta-ltd-lifts-its-aluminium-ingot-price-by-inr7-750-t-with-effect-from-january-10-88673
According to the Shanghai Metals Market data, China’s aluminium production in December 2022 (31 calendar days) was recorded at 3.44 million tonnes – 2.99 per cent more than 3.34 million tonnes in the previous month and 8.18 per cent higher than 3.14 million tonnes a year earlier. The cumulative production during January-December 2022 amounted to 40.08 million tonnes, up by 4.13 per cent from 38.49 million tonnes during the corresponding period of the previous year.
The world's largest aluminium flat-rolled products maker and aluminium recycler, Hindalco Industries' board has approved fundraising of up to INR 700 crore by issuing non-convertible debentures (NCDs) on a private placement basis.
To know more: https://www.alcircle.com/news/inr-700-crores-to-be-raised-through-ncds-by-hindalco-industries-88697
National Aluminium Company Limited (NALCO) has escalated its aluminium ingot and aluminium products prices sharply on Thursday, January 12, in response to the LME aluminium benchmark price rally for over the past three days. The company has lifted its aluminium ingot price by INR 13,500 per tonne or 6.25 per cent from INR 215,850-219,350 per tonne on January 6 to INR 229,350-232,850 per tonne on January 12.
To know more: https://www.alcircle.com/news/nalcos-aluminium-ingot-price-skyrockets-by-inr13500-t-on-january-12-88707
On January 12, Thursday, the LME aluminium cash bid price swamped in a long time by US$4.50 per tonne or 0.18 per cent, closing at US$2,446 per tonne, and the LME aluminium official settlement price faced a US$4 per tonne or 0.16 per cent decline to rest at US$2,447 per tonne.
The A00 aluminium ingot price in China has been on the rise since Monday, January 9. As of Friday, January 13, the price has been recorded at RMB 18,460 per tonne with a hike of RMB 230 per tonne. The average price for the same may orbit between RMB 18,440 per tonne and RMB 18,480 per tonne.
Hydro Rein and Atlas Renewable Energy’s joint venture to build the Boa Sorte solar park in Paracatu, Minas Gerais, has secured financial aid, according to the report published on January 6. Hydro said the JV obtained the first US dollar indexed loan executed by Banco Nacional de Desenvolvimento Econômico e Social (BNDES), the Brazilian Development Bank.
Aluminium Bahrain B.S.C. (Alba), one of the world's largest aluminium smelters, announced that it had awarded its Solar Farm Project to Advanced United Systems (AUS) for the installation of Solar Photovoltaic (P.V.) Panels covering 37,000 m2 with a capacity of more than 6 Megawatts (M.W.).
India's only backwards integrated Carbon company with a fully dedicated source of raw materials, Epsilon Carbon, is set to begin its second phase of expansion. The team got together to perform the laying of the foundation stone ceremony. It's a significant progress milestone for the company as it ushers in a new dawn of growth and development.
To know more: https://www.alcircle.com/news/epsilon-carbon-lays-the-foundation-stone-for-its-second-phase-expansion-project-89685
In the midst of a potential demand-supply scenario across the primary aluminium sector, given the rising investments towards reducing the carbon footprint at production, there were some key developments in global primary aluminium projects in 2022. While some projects were for developing clean energy to power aluminium smelters, some were for expanding integrated greenfield aluminium capacity to meet the anticipated 96.6 million tonnes of world aluminium demand.
To know more: https://www.alcircle.com/news/a-look-back-on-key-investments-and-developments-in-the-primary-aluminium-sector-2022-89689
Gulf Cooperation Council's largest premium aluminium producer has adopted Vectra's technology to identify real threats and their advancement through the cyber kill network so that quick action can be taken to detect an attack and stop a vital breach.
To know more: https://www.alcircle.com/news/gccs-aluminium-giant-accepts-vectra-attack-signal-intelligence-to-detect-threat-88666
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