LME aluminium's official settlement price opened the week with a growth of US$17.5 per tonne to close at US$2,417 per tonne, which declined by US$59 per tonne the next day to halt at US$2,358 per tonne. On Wednesday, the LME aluminium benchmark price slumped by US$15 per tonne to stop at US$2,343 per tonne. On Monday, July 11, A00 aluminium ingot price in China opened the week with a dropdown of RMB 280 per tonne, which dropped by RMB 190 per tonne the next day to halt at RMB 17,990 per tonne. Vedanta Aluminium, the biggest manufacturer of aluminium in India, has joined up with TÜV SÜD, a pioneer in worldwide safety, security, and sustainability solutions, to achieve net water positivity. Rio Tinto, a major worldwide producer of metals and minerals, has announced that it would invest US$188 million (CA$240 million) to increase by 202,000 tonnes the production capacity of low-carbon, high-value aluminium billets at its Alma smelter in Lac-Saint-Jean, Quebec.
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India's largest aluminium producer, Vedanta Aluminium partnered with TÜV SÜD, a global leader in safety, security, and sustainability solutions, to become net water positive. As a part of this partnership, Vedanta Aluminium and TÜV will create a roadmap for the company's water positivity goal by enhancing the accounting process for water consumption, building capacity for continuous improvement and conservation, and implementing innovative solutions and initiatives.
To know more: https://www.alcircle.com/news/vedanta-aluminium-inks-mou-with-tuv-sud-to-achieve-water-positive-sustainability-goals-80953
The global metal and mining giant, Rio Tinto announced that the group has decided in investing US$188 million (CA$240 million) to augment the production capacity for low-carbon, high-value aluminium billets at its Alma smelter in Lac-Saint-Jean, Quebec by 202,000 tonnes.
Epsilon Carbon, India's foremost manufacturer of coal tar derivatives, as well as the nation's only backwards-integrated manufacturer of raw material, agreed to collaborate with edible oil refiner Sri Anagha Refineries to construct molten pitch storage tanks at the refiner's premises in Mangalore on India's western coast.
India's iconic aluminium manufacturer, Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Aluminium, conserved more than 22,000 gigajoules (GJ) of energy in FY22. As part of the company's commitment to reduce carbon emissions by 2050 or earlier, Balco is gaining ground toward decarbonizing its operations.
AZ Global Consulting will be strategically holding its new global Aluminium Conference in Singapore from 8 to 10 November 2022. The conference will focus on re-energizing for 'Our Prosperous and Sustainable Future'.
To know more: https://www.alcircle.com/press-release/az-global-2022-aluminium-conference-to-be-held-in-singapore-81978
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a steep downfall of 26,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, on Thursday, July 14, the inventories totalled 697,000 tonnes, which in comparison with the month’s first Monday, July 4, shrunk by a substantial 37,000 tonnes.
A00 aluminium ingot price in China closed the week with a slip of RMB 20 per tonne to settle at RMB 17,420 per tonne, says the SMM data. The average price for the same is expected to range between RMB 17,400 per tonne and RMB 17,440 per tonne, with a spot contract to be traded at a premium price of RMB 20-60 per tonne.
LME aluminium cash bid price stood at US$2,328 per tonne, with a 0.62 per cent or US$14.5 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,329 per tonne, experiencing a downfall of 0.6 per cent or US$14 per tonne on July 14, Thursday.
To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-shrinks-by-us14-t-shfe-sheds-us26-t-resting-at-us2561-t-81980
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After almost two weeks and close observation of the fluctuating LME aluminium price trend, NALCO revised its aluminium ingot and aluminium products prices on July 8. As per the price chart revealed, NALCO slightly slashed its aluminium ingot price by INR 1,700, following two consecutive significant strokes last month.
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