Primary aluminium weekly recap: World primary aluminium production reflects a monthly drop of 3.2% in November 2022; Rusal approves the updated climate strategy until 2032

This week, the global primary aluminium segment witnessed limited but significant events. To begin with, Norsk Hydro and the other two partners announced their planning's to construct an onshore wind farm along Norway's west coast for a price ranging from 3 and 4 billion Norwegian crowns ($304 million-$405 million). When approved, the project will provide one terawatt hour (TWh) of sustainable energy for existing and prospective businesses in the Hoeyanger and Sunnfjord regions. Another significant event was the acceptance of the modified climate plan, with a focus on 2050, which was adopted by the Board of Rusal, a major producer of aluminium worldwide with operations in Russia. Under the market forefront, the World Primary aluminium production in November 2022 witnessed a drop of 3.21 per cent. In contrast, the output in October increased by 2.26 per cent from 5.669 million tonnes to 5.797 million tonnes from month to month.

The global mining and metal giant Rio Tinto announced the appointment of Kaisa Hietala as a non-executive director.  A Finnish citizen, Kaisa Hietala, will join the Board on March 1, 2023. An experienced executive, Kaisa Hietala has a proven track record of assisting businesses in transforming environmental megatrends' challenges into growth opportunities. 

To know more: https://www.alcircle.com/news/rio-tinto-appoints-kaisa-hietala-as-a-non-executive-director-88470

On December 19, 2022, the world's leading industrial company committed to a sustainable future, Norsk Hydro and two partners stated that they plan to build an onshore wind farm costing between 3 and 4 billion Norwegian crowns ($304 million-$405 million) in Norway's west coast.

To know more: https://www.alcircle.com/news/hydro-proposes-to-build-an-onshore-wind-farm-to-safeguard-its-aluminium-production-from-rising-energy-prices-88471

Emirates Global Aluminium (EGA), the most significant industrial organisation in the United Arab Emirates, excluding the oil and gas sector, nodded in agreement to provide Kobe Steel with CelestiAL solar aluminium for creating automotive body sheets designated to be used in Nissan vehicles.

To know more: https://www.alcircle.com/news/ega-agrees-supplying-celestial-to-kobe-steel-for-nissan-vehicles-aluminium-sheet-production-88472

The Board of the Russian aluminium giant and one of the world’s leading aluminium producers, Rusal, approved the updated climate strategy until 2032 with a perspective up to 2050. The updated climate strategy was adopted at the Rusal Board of Directors meeting in Krasnoyarsk. 

To know more: https://www.alcircle.com/news/rusal-approves-the-updated-climate-strategy-until-2032-with-a-perspective-up-to-2050-88488

Aluminium Stewardship Initiative had certified Guangyuan Linfeng Aluminum & Electricity Co., LTD against the Performance Standard V2 (2017) Certification for aluminium smelting activities at the Yuanjiaba Industrial Park, Guangyuan Economic and Technological Development Zone, China.

To know more: https://www.alcircle.com/news/asi-certifies-guangyuan-linfeng-aluminum-electricity-against-performance-standard-for-ingot-smelting-with-hydropower-88500

LME aluminium opened at US$2,396 per tonne on Thursday, with its high and low at US$2,411 per tonne and US$2,380 per tonne, respectively, before closing at US$2,392 per tonne, down US$3.5 per tonne or 0.15 per cent.

To know more: https://www.alcircle.com/news/lme-aluminium-price-moves-up-by-us5-t-to-us2-362-t-shfe-price-slips-by-us19-t-88517

A00 aluminium ingot price plunged by RMB 20 per tonne, resting at RMB 18,800 per tonne, as the Shanghai Metals Market recorded on Friday, December 23. The average prices were expected to range between RMB 18,780 per tonne and RMB 18,820 per tonne, with spot contracts trading at premium prices of RMB 140 per tonne and RMB 180 per tonne.

To know more: https://www.alcircle.com/press-release/chinas-a00-aluminium-ingot-price-reduces-by-rmb20-t-alumina-price-in-shandong-acquires-rmb15-t-88515

Primary aluminium production in Africa stood at 127,000 tonnes during November 2022, reflecting a month-on-month plunge of 14,000 tonnes or 9.93 per cent, found the International Aluminium Institute. In October, the output amounted to 141,000 tonnes, up by 6,000 tonnes or 4.44 per cent from 135,000 tonnes a month ago.

To know more: https://www.alcircle.com/news/africas-primary-aluminium-production-records-a-plunge-of-14000-tonnes-m-o-m-in-november-2022-88518

World primary aluminium production in November 2022 amounted to 5.611 million tonnes, reflecting a monthly drop of 3.21 per cent, showed the International Aluminium Insititute. However, the output in October recorded a month-on-month rise of 2.26 per cent from 5.669 million tonnes to 5.797 million tonnes.

To know more: https://www.alcircle.com/news/world-primary-aluminium-production-reflects-a-monthly-drop-of-3-2-in-november-2022-88498