The news that created a buzz this week was the penalty of $678,889 on Rio Tinto for violation of air contaminants at Kitimat aluminium smelter. The Workers' Compensation Board of British Columbia, operating as WorkSafeBC, imposed the fine following building inspection used for cleaning and servicing equipment at Rio Tinto’s Kitimat aluminium smelter. However, the inspection was a follow-up from an endorsement in regards to governing workers’ exposure to process dust that contained toxic and carcinogenic substances such as beryllium.
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India’s iconic Aluminium producer, Bharat Aluminium Company Limited has made a space for itself in news headlines this week for its momentous contributions through 56 years long developmental journey, which has paved the path for the development of state and country at large and supported India in its journey of becoming ‘self-reliant’.
Balco’s march towards the contribution of nation development continued with the business operations by adhering to COVID safety protocols during the testing times of the pandemic. Though the organization was also affected by the COVID induced worldwide economic disruptions but the resilience of the aluminium producer’s employees and its business partners drove the production process.
Abhijit Pati, the CEO and Director, said: “BALCO is playing a crucial role in introducing Aluminium as a potential alternative to other metals in various sectors such as in the power transmission industry.”
To know more: https://www.alcircle.com/news/balcos-significant-contribution-supporting-india-in-the-journey-of-becoming-self-reliant-75384
What also grabbed our attention this week was Alcoa Corp., the largest aluminium manufacturer in the United States, cautioned investors on Wednesday that any confrontation between Russia and Ukraine might affect the global aluminium market. Any form of aggressiveness, according to Chief Executive Officer Roy Harvey, might affect supplies from Russia, the world's second-largest aluminium producer.
It might also lead to an increase in energy prices, which would have a knock-on effect on the aluminium sector due to the metal's high energy consumption, stated Roy Harvey.
To know more: https://www.alcircle.com/news/russia-ukraine-conflict-may-affect-global-aluminium-market-says-alcoa-corp-75418
This week, Eurometaux, a trade organisation, called EU policymakers to enable member states to use state assistance to boost local producers of aluminium, zinc, and silicon, which are critical for the transition to low-carbon energy. The European Union has set a goal of cutting net greenhouse gas emissions by 55 percent by 2030, as a step toward "net zero" by 2050, with plans that include electric vehicles that require aluminium and renewable energy that requires zinc and silicon.
India’s largest producer of aluminium and value-added products, Vedanta Aluminium and start-up manufacturing firm Runaya Refining have secured the Gold award at the (Business World) BW Recycling for a Greener Tomorrow Awards 2022 in the category of ‘Best in Recycling or Material Recovery Facility of the Year’.
The United States (US) and Britain initiated dialogue on Wednesday, January 19, aimed at resolving the dispute over tariffs that were imposed by the Trump administration on imported aluminium and steel.
As per the report, top trade officials from Washington and London said they are committed to working towards an expeditious outcome resulting from an excess global capacity of primary aluminium, primarily due to China.
The US Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo met Britain’s International Trade Secretary Anne Marie Trevelyan virtually and pledged to find effective solutions.
To know more: https://www.alcircle.com/news/us-britain-initiate-dialogue-to-resolve-aluminium-steel-tariff-disputes-75427
Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter outside of China, signed a Memorandum of Understanding (MoU) with Mitsubishi Heavy Industries EMEA Ltd. (MHI EMEA), a subsidiary of Mitsubishi Heavy Industries (MHI) Group, on January 19, 2022, to collaborate on ways to reduce Alba's carbon footprint.
The MoU, which is the first of its kind with an aluminium producer, will lay the groundwork for a feasibility study on using MHI Group's CO2 capture from flue gas technology, developed in collaboration with Kansai Electric Power Co., to reduce Alba's plant emissions to achieve de-carbonization.
According to government statistics released this week, China's annual aluminium output increased by 4.8% from the previous year to a new high of 38.5 million tonnes in 2021, despite energy consumption restrictions set last year to fulfil climate targets. In December, China’s primary aluminium output was 3.11 million tonnes, up marginally from 3.10 million tonnes in November but down 4% year-on-year, showed the National Bureau of Statistics (NBS).
The Indonesian aluminium giant PT Indonesia Asahan Aluminum, popularly known as Inalum, attained aluminium production of 243,000 tonnes, while sales were recorded at 218,000 tonnes in 2021. The Mining Industry Indonesia (MIND ID) holding company depended on aluminium commodities by diversifying the portfolio into ingots, alloys, and billets.
“The achievement of Inalum operating's positive performance is highly supported by the optimal performance of the aluminium smelting facility namely carbon reduction and molding plants,” noted Danny Praditya, the Director of Operations and Portfolio.
To know more: https://www.alcircle.com/news/inalum-aluminium-production-attains-243-000-tonnes-in-2021-75428
China’s aluminium imports in 2021 stood strong to mark record shipments, despite a downfall in December snapping three monthly gains. China, the world’s biggest aluminium producer and consumer, imported 3.2 million tonnes of unwrought aluminium and products in 2021, a record high and up by 18.52 per cent from 2.7 million tonnes in 2020.
In December 2021, China imported 243,729 tonnes of unwrought aluminium and products, found the General Administration of Customs. The import volume was 39 per cent less than 397,915 tonnes in November and 8.2 lower than a year ago.
Rusal, the Russian aluminium giant, achieved Aluminium Stewardship Initiative certification for four more production sites, including Kandalaksha aluminium smelter, two aluminium foil plants Sayanal and Armenal (Armenia), and Europe’s largest alumina refinery Aughinish at Ireland. They are certified against the ASI Performance Standard and Chain of Custody Standard certifications, bringing the total number of ASI Rusal certificates to 13.
To know more: https://www.alcircle.com/news/rusal-bags-asi-certifications-for-four-more-production-sites-75411
National Aluminium Company Limited (NALCO) hiked its aluminium ingot and aluminium products prices for the third time in a row, with effect from Wednesday, January 19. The company raised its aluminium ingot price by INR 5,300 per tonne to the range INR 254,850-258,350 per tonne. On Friday, January 14, NALCO’s aluminium ingot price stood at INR 249,550- 253,050 per tonne, seeing a rise of INR 2,100 per tonne.
According to the Shanghai Metals Market, social inventories of primary aluminium in China gained 2,000 tonnes this week ending January 20, 2022, across eight major consumption areas, including SHFE warrants. Therefore, the inventories came in at 726,000 tonnes, compared to 724,000 tonnes on January 13. Primary aluminium inventories have increased this week after the past eight consecutive weeks of decline since November 25.
To know more: https://www.alcircle.com/news/primary-aluminium-inventories-inch-up-by-2-000-tonnes-to-726-000-tonnes-on-january-20-75419
With the end of the year 2021, the International Aluminium Institute data showed the world primary aluminium production in December stood at 5.622 million tonnes. That was an increase of 3.61 per cent month-on-month from 5.426 million tonnes.
In the last quarter of the year (4Q2021), the world primary aluminium production totalled 16.737 million tonnes, down by 0.95 per cent from 16.898 million tonnes in 3Q2021 and 0.50 per cent from 16.821 million tonnes in 4Q2020.
In the entire 2021, the global aluminium production amounted to 67.343 million tonnes, which reflected a hike of 3.09 per cent from 65.325 million tonnes a year ago.
LME aluminium benchmark price soared by US$70.50 per tonne through the week to close at US$3,079.50 per tonne, as of January 21. LME aluminium opening stock decreased from 892800 tonnes to 865950 tonnes.
Benchmark aluminium price for SHFE grew by US$49 per tonne from US$3,325 per tonne on January 17 to US$3,374 per tonne on January 21.
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