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On April 25, the benchmark aluminium price for SHFE declined by US$145 per tonne to US$3,239 per tonne, then falling another US$68 per tonne to US$3,171 per tonne on April 26. The price fell further on Wednesday, April 27, to US$3,168 per tonne, before rising by $5 per tonne the next day to US$3,173 per tonne. On the other hand, A00 aluminium ingot price opened the week on Monday, April 25, with a plunge to record at RMB 20,950 per tonne, which further declined the next day by RMB 210 per tonne to settle at RMB 20,740 per tonne. Due to the stable power supply in Yunnan province, Henan Shenhuo Coal & Power Co Ltd announced this week that it plans to increase output to 900,000 tonnes, the unit's full capacity, by the end of this month. Shenhuo is a well-known Chinese aluminium manufacturer. The European Aluminium industry and policymakers have discussed the future of Europe's energy infrastructure with industry experts and policymakers. Both sides stressed the importance of facilitating affordable and low-carbon energy uptake for industrial users to help navigate the current crisis while meeting the EU's climate neutrality target.
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Henan Shenhuo Coal & Power Co Ltd declared this week that it is planning to amplify its production to achieve 900,000 tonnes which is the maximum capacity of the unit by the end of this month owing to the steady power supply in Yunnan province. Shenhuo is a renowned aluminium producer from China.
To know more: https://www.alcircle.com/news/steady-power-supply-in-yunnan-propels-china-shenhuo-to-increase-aluminium-production-79292
The European Aluminium discussed with industry experts and policymakers the future of Europe’s energy infrastructure following the ongoing energy crisis during its annual Spring Meetings 2022, where both the industry and energy sector stressed the need to facilitate affordable and low-carbon energy uptake for industrial users to support navigate the current crisis while meeting the EU’s target for climate neutrality.
To know more: https://www.alcircle.com/news/the-european-aluminium-association-and-energy-experts-call-for-a-bold-eu-energy-agenda-79281
According to a report released on Wednesday, April 27, Vedanta Aluminium has built up an Extended Reality (XR) experience zone to increase safety training for its employees and partners. The zone is comprised of Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) technologies that will help the company conduct simulation-based training for an immersive, engaging and safe learning experience of the workforce.
To know more: https://www.alcircle.com/news/vedanta-aluminium-strengthens-workforce-wellbeing-security-with-advanced-digital-solutions-79275
The initial aluminium smelter in the Middle East region, which commenced its journey with a production of 120,000 tonnes per annum in 1971, Aluminium Bahrain B.S.C. (Alba), at present, is the world’s largest single-site aluminium smelter ex-China has evolved as the first Bahraini Company to have successfully achieved sustainability-linked refinancing for its US$1,247,475,000 syndicated loan facility in connection to the Line 6 Expansion Project.
The Chief Executive Officer of Aluminium Bahrain B.S.C. (Alba), Ali Al Baqali rolled out the company’s approved Environment, Social and Governance (ESG) Roadmap by the Board of Directors, to underline the company’s strong commitment to Bahrain’s, an island country in Western Asia towards the objective of ‘Net Zero Emissions by 2060’ under the leadership of HRH the Crown Prince and Prime Minister of Bahrain as well as the United Nations Sustainable Development Goals (SDGs).
To know more: https://www.alcircle.com/news/alba-ceo-ali-al-baqali-rolls-out-the-companys-esg-roadmap-79268
The heightened demand for heavy industry products has instigated Coates Industrial Solutions from Australia to release a white paper on how companies might address the resource question, keeping safety and performance in mind during planned shutdowns and maintenance events.
To know more: https://www.alcircle.com/news/coates-justifies-the-need-for-their-white-paper-manual-to-improve-business-resources-79266
The report has turned out that French police officials have raided the Sanjeev Gupta’s GFG Alliance Paris offices and a previously owned aluminium manufacturing unit in a widening of a criminal investigation into the metal tycoon’s establishment.
ICSOBA, the International Committee for Study of Bauxite, Alumina & Aluminium, has announced the 40th International Conference and Exhibition ICSOBA 2022. The five-day event, scheduled from 10th to 14th of October will take place in Athens, Greece, in association with Mytilineos as the host sponsor.
According to a recent report, Emirates Global Aluminium, the largest industrial company outside oil and gas in the UAE, has agreed to a revolving credit facility tied to the Term Secured Overnight Funding Rate (SOFR).It will provide EGA an access to $137.5 million, with a term extended by 12 months.
On 28th April, LME aluminium cash bid price stood at US$3,065 per tonne, facing a 1.10 per cent or US$34 per tonne decline, while LME aluminium official settlement price halted at US$3,065.50, plunging down 1.11 per cent or US$34.50 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-price-falls-for-the-second-day-at-us3065-50-t-shfe-stoops-down-to-us3139-t-79284
National Aluminium Company Limited has slashed its aluminium ingot and aluminium products prices by INR 10,000 per tonne or 3.5 per cent on April 28, in line with the continued decrease in LME aluminium benchmark price since April 22. With the latest cut, NALCO’s aluminium ingot price has come in at INR 272,650 – 276,150 per tonne compared to INR 282,650-286,150 per tonne on April 21.
To know more: https://www.alcircle.com/news/nalcos-aluminium-ingot-price-sees-a-sharp-cut-of-inr10000-t-in-line-with-lme-price-slump-79279
China’s A00 aluminium ingot price has slipped by RMB 40 per tonne on Friday, April 29, after witnessing a hike the previous day, found the SMM. The price for Friday, April 29 closed at RMB 20,810 per tonne, with average prices likely to range between RMB 20,790 per tonne and RMB 20,830 per tonne.
On Tuesday, April 26, CME group, the world’s biggest derivatives marketplace announced that it will debut an option contract on its physically-delivered aluminium features on May 23. The new aluminium option contract will be listed on COMEX and will be governed by its regulations.
To know more: https://www.alcircle.com/news/cme-groups-aluminium-option-contract-to-debut-on-may-23-79251
Vedanta Limited has further reduced its aluminium ingot and products prices, with effect from Friday, April 29, in line with back-to-back LME aluminium price drop. Vedanta has cut its aluminium ingot price by INR 2,500 per tonne or 0.9 per cent to INR 269,500-305,200 per tonne on April 29, while the price on April 26 was at INR 272,000-307,700 per tonne, seeing a steep fall of INR 11,250 per tonne.
To know more: https://www.alcircle.com/news/vedanta-cuts-its-aluminium-ingot-selling-price-by-nearly-1-with-effect-from-april-29-79293
Century Aluminum Company, a US-based primary aluminium producer, has announced its first quarter 2022 operation and financial results, revealing that shipments in the same period ended March 31 increased by 5 per cent quarter-on-quarter from 200,961 tonnes to 211,411 tonnes, bolstered by the resumption of a project at Mt. Holly.
According to the Shanghai Metals Market, primary aluminium inventories in China have decreased this week by 34,000 tonnes or 11 per cent across eight major consumption areas, including SHFE warrants. Thus, compared to 1.02 million tonnes last Thursday, April 21, primary aluminium inventories have come in at 987,000 tonnes as of April 28.
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