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THINK ALUMINIUM THINK AL CIRCLE
The primary aluminium segment of the global aluminium industry has been in the limelight due to various events. In China, the Yunnan provincial government issued a policy prescribing an immediate cancellation of power price discounts and subsidies to the aluminium industry. It used to offer preferential electricity pricing to aluminium companies at 16% to 22% lower than the industry average. The US-based primary aluminium producer, Century Aluminium revealed their Q3 2021 results reporting a 10% rise in net sales with a net loss of $52.4 million. The price of aluminium, which is required for making almost everything from soda cans to aeroplane components, had stabilised after reaching a 13-year high of US$3,221 during the third quarter, due to the supply concerns caused by China’s power crunch.
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According to the Shanghai Metals Market, social inventories of primary aluminium built up 31,000 tonnes or 12.32 week-on-week across eight major Chinese consumption areas. On Thursday, November 4, primary aluminium inventories came in at 1.01 million tonnes, contributed by higher stock arrivals in Wuxi, Linyi, and Shanghai.
LME aluminium opened at US$2,680.5 per tonne on Thursday morning and closed at US$2,553.5per tonne, down US$132.5 per tonne or 4.93%. On Thursday, November 4, both LME aluminium cash (bid) price and LME aluminium official settlement price decreased by US$63 or by 2.32% to settle at US$2,642.50 per tonne and US$2,643 per tonne. 3-month bid price and 3-month offer price stood at US$2,664 per tonne and US$2,666 per tonne. December 22 bid price and December 22 offer price was recorded at US$2,633 per tonne and US$2,638 per tonne.
Hindalco Industries Limited has further reduced its aluminium ingot and aluminium products prices with effect from Wednesday, November 3. The company’s aluminium ingot price has come in at INR 234,250 per tonne, down by INR 2,500 per tonne from INR 236,750 per tonne on October 28.
The price of aluminium will stay high until next year since smelters have been compelled to cut production due to increased energy costs. On Monday, Global analysts stated that the total price of aluminium in 2021 is expected to stand at US$2,450 per tonne and US$2,300 per tonne in 2022, up from US$2,300 per tonne and US$2,100 per tonne in the previous year.
To know more: https://www.alcircle.com/news/aluminium-prices-to-stay-high-until-next-year-owing-to-high-energy-cost-global-analysts-71781
Century Aluminum Company announced the third-quarter results of 2021 ended September 30, reporting a 10 per cent rise in net sales quarter-on-quarter from $528 million to $582.4 million. Shipments grew 3 per cent from 190,894 tonnes in Q2 2021 to 196,095 tonnes in Q3 2021. The company also reported a net loss of $52.4 million for the third quarter, which was $17.3 million lower than $35.1 million in the second quarter.
The expectation is gradually peering through the clouds of Russia, that the govt. might remove the taxes on aluminium exports and foster global supplies due to the triggered inventory sell-off that has marked down the prices of the metal on the physical market in the US and in Europe.
To know more: https://www.alcircle.com/news/russia-envisioned-to-unfasten-tax-on-aluminium-exports-71802
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, has announced the third quarter and nine months report of 2021, wherein it has mentioned a profit of BD125.9 million (US$335 million) for Q3 2021, versus a Loss of BD11.6 million (US$30.9 million) for the same period in 2020. The total comprehensive income stood at BD126.4 million (US$336.1 million) in Q3 as against BD11.7 million (US$31.1 million) a year ago.
The Russian aluminium giant, RUSAL participates in the 26th UN Climate Change Conference that is happening in Glasgow, United Kingdom. The global leader in the production of low-carbon aluminium, RUSAL discusses the path to decarbonize the aluminium industry, within the framework of COP26. However, business representatives and expert organizations talked about the risks and opportunities confronted by the aluminium industry in the activity of zero greenhouse gas emissions (Net Zero), as well as the possibility of conquering technological barricade, which currently staves off further decarbonization of the preliminary phases of the primary aluminium production and supply chain.
Southwest China’s Yunnan province, one of the country’s largest aluminium-producing areas, has reportedly removed preferential electricity pricing for electrolytic aluminium producers to control power consumption amid shortages. The news came after the provincial government issued a policy on Monday prescribing an immediate cancellation of power price discounts and subsidies to the aluminium industry.
On Monday, En+ group, one of the largest shareholders of Rusal stated that the company is expected to complete the demerger of its higher-carbon assets into a new business in the second half of 2022. Previously, Hong Kong-listed Rusal, the largest producer of aluminium outside China had anticipated this procedure to be completed in the first quarter of 2022. As part of the effort, it aims to change its name to AL+, which it expects will help it reach carbon neutrality by 2050.
To know more: https://www.alcircle.com/news/rusals-largest-stakeholders-accept-the-demerger-of-higher-carbon-assets-by-h2-2022-71778
Researchers at the National University of Science and Technology (NUST MISIS) collaborated with other Russian experts to develop a low-cost aluminium alloy that can resist temperatures up to 150°C higher than its counterparts.
The carbon-free aluminium smelting for widely usable products varying from smartphones to cars and drink, cans are one step closer with ELYSIS effectively producing aluminium without any direct greenhouse emissions at its Industrial Research and Development Center in Saguenay (QC), Canada.
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