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THINK ALUMINIUM THINK AL CIRCLE
The world's primary aluminium segment witnessed a lot of sporadic but evident changes this week. On the market forefront, the benchmark aluminium SHFE price had been trending downward this week, except for a few infrequent rises. The LME aluminium benchmark price on Monday, March 21 had moved up by US$137.50 per tonne to US$3,518 per tonne, which on Tuesday had gone up by US32.50 per tonne to peg at US$3,550.50 per tonne. On the other hand, China’s Hongqiao Group reported 33% higher revenue in CY2021, amidst the uncertain COVID pandemic condition. Apart from this, the British Safety Council awarded Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium producer outside of China, the coveted International Safety Award - Merit for its constant dedication to keeping its workers safe and healthy during the calendar year of 2021. The New Zealand government removed a $60 million composite subsidy from Rio Tinto's majority-owned Tiwai Point aluminium smelter in Southland. Also, both United States and the United Kingdom resolved their trade disputes over aluminium and steel tariffs, with the former agreeing to lift the levies.
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LME aluminium cash bid price stood at US$3,663 per tonne with a whooping rise of 2.95 per cent or US$105 per tonne and LME aluminium official settlement price halted at US$3,664 per tonne with an increase of 2.92 per cent or US$104 per tonne, if compared with the records of the previous day.
According to the Shanghai Metals Market, social inventories of Chinese aluminium ingots have continued to decrease by 50,000 tonnes from a week ago, across eight major consumption areas, including SHFE warrants. Data shows the inventories have come in at 1.04 million tonnes, compared with 1.09 million tonnes last Thursday, March 17.
China Hongqiao Group Co., Ltd., the world's largest aluminium producer covering the entire value chain, has published its annual results for the year ended December 31, 2021, highlighting the revenue growth of 32.9 per cent (approx.) year-on-year to RMB 114,490,941,000. At the end of 2020, Hongqiao’s revenue stood at RMB 86,144,641,000 tonnes.
According to the latest data shown by the International Aluminium Institute, world primary aluminium production in February 2022 recorded a downfall of 9.34 per cent month-on-month to stand at 5.114 million tonnes. In January, the output scored at 5.641 million tonnes, up by 1.95 per cent sequentially from 5.533 million tonnes.
Total Aluminium production worldwide for the month of January 2022 has been 5.641 million tonnes with a decline the next month by 9.34 per cent, amounting to 5.114 million tonnes. African production of aluminium has been on a steep decline from January to February 2022 totalling to 139,000 tonnes and 123,000 tonnes respectively.
On 25th March 2022, the Romanian integrated aluminium company, ALRO S.A. publicised its consolidated and separate financial statements for the year ended 31st December 2021. ALRO Group, one of the largest aluminium producers of Europe registered a turnover of RON 3.5 billion up from RON 2.5 billion in 2020. Alro booked a net profit of RON 26 million in 2021, compared to a net profit of RON 335 million in 2020.
To know more: https://www.alcircle.com/news/romanian-aluminium-firm-alro-sa-reported-consolidated-turnover-of-ron-3-5-billion-in-2021-77937
National Aluminium Company Limited has upgraded its aluminium ingot and aluminium products prices, in response to the uptrend of the LME aluminium benchmark price. With effect from Friday March 25, NALCO’s aluminium ingot price has come in at INR 317,450-320,950 per tonne, scaling up by INR 12,900 per tonne from INR 304,550- 308,050 per tonne on March 22.
To know more: https://www.alcircle.com/news/nalco-further-upgrades-its-aluminium-ingot-price-by-inr12900-t-with-effect-from-march-25-77933
A recent study has revealed that global aluminium demand will see an increase of 40 per cent by 2030, requiring an additional production of 33.3 million tonnes, meaning the metal output should ideally improve from 86.2 million tonnes in 2020 to 119.5 million tonnes in 2030. The research study, titled ‘Opportunities For Aluminium In A Post-Covid Economy’, conducted by business intelligence analyst CRU International on behalf of the International Aluminium Institute (IAI), has also noted the key industries that will drive the demand growth.
Owing to the increased alumina and aluminium prices and increased output, Aluminium Corp. of China or Chalco's net profit in 2021 was bolstered by 564.6 per cent Y-o-Y to a 14-year high. In the 12 months ending Dec. 31, 2021, the world's largest alumina producer had a net profit of RMB 5.08 billion ($797 million), more than six times greater than the RMB 764.3 million in 2020.
To know more: https://www.alcircle.com/news/chalcos-net-profit-reaches-a-new-high-at-rmb5-08-billion-buoyed-by-aluminium-price-rally-77907
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium producer outside China, bagged the prestigious International Safety Award – Merit by the British Safety Council for its consistent commitment to keeping the workforce safe and healthy during the calendar year of 2021. The award also recognises those organisations that show commitment to the wellbeing and mental health of the workforce.
To know more: https://www.alcircle.com/news/alba-secures-recognition-for-its-safe-healthy-workplace-from-british-safety-council-77879
Owing to the sudden decision by Coal India to further restrict coal deliveries to the non-power sector via road and rake, with no prior warning, causing huge scarcity of coal rakes for industries now expanding to road-based deliveries. The Aluminium Association of India (AAI) has written to the Prime Minister’s Office, the Cabinet Secretary and the Coal Minister, requesting immediate assistance to stop the sector’s impending disruptions.
To know more: https://www.alcircle.com/news/aai-writes-to-pm-requesting-immediate-resumption-of-coal-supply-for-captive-power-plants-77887
Yunnan is home to around 10% of China's aluminium production capacity. In May 2021, the province was plagued by drought as a result of the Yunnan government had adopted initiatives to minimise the electrical consumption of aluminium smelters in the province. However, as per the latest reports, Yunnan's electricity crisis has lessened since the beginning of 2022, since water availability has been greater than typical throughout the dry season
To know more: https://www.alcircle.com/news/yunnan-shenhuo-resumes-220-000-tonnes-of-aluminium-capacity-as-power-crisis-eases-77889
According to a report on Tuesday, March 22, India’s largest aluminium producer Vedanta Aluminium Business has recycled 14 billion litres of water as of January FY2022, following its own robust Water Management Policy. As part of the commitment to fulfil water sustainability goals, Vedanta strives to increase water reutilisation, reduce freshwater consumption, and ensure zero liquid discharge from operations.
On Tuesday, March 22, the Aluminium Stewardship Initiative reportedly welcomed Cameroonian Aluminium Company ALUCAM as a new Production and Transformation member. That brought the ASI’s total number of members to 215. ALUCAM is an industrial aluminium production company (Smelter) located in Edéa, a crossroads city between the Littoral, Center and South Cameroon. It started its operations in 1957 and, until now, has around 600 permanent employees to produce 100,000 tonnes of aluminium in a year.
A rift between the United States and the United Kingdom over aluminium and steel tariffs has finally come to an end as the former has agreed to lift the duties. On Tuesday, March 22, Anne-Marie Belinda Trevelyan, a British politician serving as Secretary of State for International Trade and President of the Board of Trade since 2021, officially said that both the countries reached a common term to remove the four-year-long aluminium and steel tariffs.
To know more: https://www.alcircle.com/news/us-uk-end-their-4-year-long-dispute-over-aluminium-and-steel-tariffs-77903
The Russian aluminium giant and one of the leading global aluminium producers declared the accomplishment of the construction of social infrastructure facilities in the village of Tayozhny, Krasnoyarsk region with a kindergarten school and a clinic. Collectively, the company has allocated 7 billion rubles for the development of Tayozhny, a nearby location of the Boguchansk aluminium smelter.
To know more: https://www.alcircle.com/news/rusal-infuse-7-billion-rubles-in-the-social-infrastructure-of-tayozhny-77910
India’s domestic coal supply to aluminium smelters record further decline with railway rakes supplying coal at the lowest rate since September, while the energy crisis appeared at its peak. This, as a consequence, has compelled the country’s aluminium industry to import more amid rising cost pressures. Data provided by Coal and Mines Minister Pralhad Joshi to Parliament shows the aluminium industry received an average of 18.4 coal-laden carriages a day in the first half of March as against 17.8 rakes in September.
S.A.V. S.p.A. Societa' Alluminio Veneto has acquired the ASI Performance Standard Certification for the sorting plus melting of raw materials and metal scrap to induce production of aluminium alloy ingots at the Colombo and Dell’Artigianato facilities in Italy. The total production capacity of the S.A.V. S.p.A. plants in Northern Italy is almost 100,000 tonnes per year.
After gaining additional funding, a recycling enterprise that is rebuilding already shut-down aluminium plant claims it is planning to settle "outstanding invoices" of the already shut down Anglesey Aluminium plant. After smelting ceased in 2009, Orthios acquired the old Anglesey Aluminium plant near Holyhead in 2016. Anglesey Aluminium was a joint venture between Rio Tinto and Kaiser Aluminium. However, in September 2009, the Anglesey Aluminium plant was shut down, as they failed to achieve a reduced energy arrangement.
To know more: https://www.alcircle.com/news/anglesey-aluminium-plant-gets-new-patron-to-continue-construction-says-orthios-77917
The New Zealand government has withdrawn a composite subsidy worth about $60 million, from the Rio Tinto majority-owned Tiwai Point aluminium smelter in Southland. A freshly released cabinet paper has unveiled that James Shaw, the Minister of Climate Change had demanded the government to accept this measure late in 2021. The subsidy phrased that the New Zealand government provides 934,400 free units per year under the Emissions Trading Scheme (ETS) to the aluminium smelter as part of an electricity allocation drive.
To know more: https://www.alcircle.com/news/new-zealand-govt-withdraws-60-million-subsidy-from-tiwai-point-aluminium-smelter-77931
Alcoa Corporation global leader in bauxite, alumina and aluminium products announced the completion of its most waited Deschambault aluminium smelter project in Quebec, Canada. The project will enhance the stability, efficiency and output of the Deschambault aluminium smelter. The smelter has completed the installation of new electrical infrastructure, which was part of a $47 million capital investment to assist the plant enhance its operations.
To know more: https://www.alcircle.com/news/alcoas-us47-million-deschambault-aluminium-smelter-project-is-finally-on-board-77895
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