Primary aluminium weekly recap: South32 vows for further investment in low carbon aluminium as profit mounts; Aluminium growing prices anticipate securing potential gains of VALCO

The primary aluminium segment of the global aluminium industry has remained quite eventful this week. LME aluminium cash bid price spiked by US$12 per tonne or 0.36% to close at US$3,292 per tonne on 17^th February 2022. India’s NALCO aluminium ingot price has seen a surge of INR 5,400 per tonne to range between INR 280,450-283,950 per tonne. The diversified mining company, South32 booked pretax profit for the six months to December 21, from pursuing operations of $1.46 billion, soaring from just $155 million from the previous year. The CEO of Ghana Integrated Aluminium Development Corporation (GIADEC) stated there has been a significant rise in demand and price of aluminium on the world market.

According to the Shanghai Metals Market, China’s aluminium production in January (31 days) 2022 stood at 3.204 million tonnes, 3.6 per cent more month-on-month. The daily average output came in at 103,000 tonnes, up 1,000 tonnes per day from the previous month.

To know more: https://www.alcircle.com/news/chinas-aluminium-production-during-january-2022-falls-3-6-m-o-m-to-3-204-million-tonnes-76660

According to the Shanghai Metals Market, A00 aluminium ingot price has continued to grow by RMB 60 per tonne to close the week ending February 18 at RMB 22,720 per tonne. The average prices are expected to range between RMB 22,700 per tonne and RMB 22,740 per tonne, with spot contracts to be traded at a premium price of RMB 20-20 per tonne.

To know more: https://www.alcircle.com/press-release/a00-aluminium-ingot-price-in-china-grows-by-rmb60-t-to-close-the-week-at-rmb22720-t-aluminium-alloy-a356-price-gains-rmb50-t-76654

LME aluminium opened at US$3,250 per tonne on Thursday and closed at US$3,258 per tonne, an increase of US$8.5 per tonne or 0.26%. On Thursday, February 17, the LME aluminium cash bid price hiked by US$12 per tonne or 0.36% to close at US$3,292 per tonne.

To know more: https://www.alcircle.com/news/lme-aluminium-price-surges-by-us12-t-to-peg-at-us3-294-t-shfe-price-hikes-by-0-16-76653

National Aluminium Company Limited has further expanded its aluminium ingot and aluminium products prices, with effect from Thursday, February 17. The company’s aluminium ingot price has seen a hike of INR 5,400 per tonne to range between INR 280,450-283,950 per tonne. On February 9, the price had witnessed a surge of INR 14,500 per tonne to INR 275050- 278550 per tonne.

To know more: https://www.alcircle.com/news/nalco-expands-its-aluminium-ingot-price-by-inr5400-t-with-effect-from-february-17-76652

Aluminium ingot production in Iran rose 24 per cent during the first ten months of the current Iranian calendar year (March 21, 2021-January 20, 2022) to come in at 453,436 tonnes versus 364,783 tonnes during the same period last year.

To know more: https://www.alcircle.com/news/irans-aluminium-ingot-output-in-ten-month-grows-24-to-453-436t-aims-to-produce-1-5-mt-annually-in-next-4-years-76640

The present global aluminium market progress is predicted to navigate probable dividends of the Volta Aluminium Company (VALCO), as the Ghana government pursues to materialize for reviving the operations of the one-time centrepiece of the nation’s economy.

To know more: https://www.alcircle.com/news/aluminium-growing-prices-anticipate-securing-potential-gains-of-valco-76631

The apex body representing the entire spectrum of the Indian Aluminium Industry, the Aluminium Association of India (AAI) has solicited the mediation of the Indian state-owned coal mining and refining Corporation, Coal India Limited in regards to the continuation of sustainable coal supplies and rakes for aluminium industry-owned captive power plants (CPPs) which are countering unsettlingly exhausted stockpiles of dry fuel of three to four days as compared to the stipulated level of 15 days.

To know more: https://www.alcircle.com/news/aai-seeks-cils-sustainable-coal-supply-assurance-to-the-aluminium-industry-owned-captive-power-plants-76637

On 17th February 2022, the mining and metals company, South32 with its headquartered in Perth, Western Australia reported a bumper first half with a 57% rise in revenue propelling profit surge, although the operational challenges remain.

To know more: https://www.alcircle.com/news/spun-out-of-bhp-billiton-south32-vows-for-further-investment-in-low-carbon-aluminium-as-profit-mounts-76650

On Tuesday, February 15, ASI welcomed Huanghe Xinye Co., Ltd. as its new production and transformation member, making the total count of ASI members 213. The Yellow River Upstream Hydropower Development Co., LTD is a wholly-owned subsidiary of Huang Hexin Industry Co., LTD, which is also the national electric power investment group co., LTD.

To know more: https://www.alcircle.com/news/huanghe-xinye-co-ltd-joins-asi-as-new-production-and-transformation-member-76646

The largest producer of green metal in India, Vedanta Aluminium Business, has secured 4th rank among global aluminium producers in the Dow Jones Sustainability Index (DJSI) family. The Dow Jones Sustainability Indices is a global benchmark that shadows the performance of the world's leading companies in terms of economic, environmental and social criteria.

To know more: https://www.alcircle.com/news/vedanta-aluminium-secures-ranking-in-dow-jones-sustainability-index-2021-76622

The continuous grievance and follow up which came from the non-power sectors majorly from the aluminium and other manufacturing industry bodies in regards to the continuous challenges of coal supply dearth since August 2021, the Indian state-owned Coal India Limited (CIL) on 12th February 2021 stated that it will further scale up supplies to this sector.

To know more: https://www.alcircle.com/news/coal-india-to-scale-up-supply-to-non-power-sector-a-sign-of-relief-to-the-aluminium-industry-76608