This week, there has been news about the current state of the aluminium industry in China, with some regions facing supply constraints while others are trying to lower prices. The operational rate of the sector declined last week compared to the previous week. The World Trade Organization (WTO) dispute panel has ordered Turkey to rescind additional duties imposed on imports from the United States, which has implications for the global aluminium trade dynamics. EN+ Group IPJSC, a leading producer of low-carbon aluminium and renewable energy, has appointed Mikhail Khardikov as the new CEO, effective January 1, 2024, coinciding with the retirement of the current CEO Vladimir Kiriukhin on December 31, 2023. If we look at the LME aluminium price pre-Christmas Holidays, we can measure a Week-on-Week influx of 4.52 per cent or US$101 per tonne from US$2,234.50 per tonne recorded on December 22 to US$2,335.50 per tonne marked on December 29. Similarly, the SHFE aluminium price has grown by US$58 per tonne or 2.15 per cent over the week to close at US$2,756 per tonne on Friday, from US$2,698 per tonne registered on Monday.
Since 1963, ICSOBA (The International Committee for Study of Bauxite, Alumina and Aluminium) has organized 41 international events in different places of the world. In 2023, ICSOBA marked its 60th anniversary.
EN+ Group IPJSC, one of the world's leading producers of low-carbon aluminium and renewable energy, with its metals segment represented by Rusal, has disclosed that its Board of Directors has approved the appointment of Mikhail Khardikov as the new Chief Executive Officer of the company.
To know more: https://www.alcircle.com/news/en-group-names-mikhail-khardikov-as-the-new-ceo-104385
Multiple cities in the central Chinese province of Henan are grappling with a shortage in winter heating supply following the passage of a cold wave that has swept through a significant area, causing blizzards, and pushing temperatures to nearly record-breaking lows.
Companhia Brasileira de Alumínio (CBA) informs its shareholders that it will pay, on December 22, 2023, R$0.34580615046 per share, totalling R$206 million, relating to the mandatory dividend, as resolved in the AGM/ E 2023.
To know more: https://www.alcircle.com/press-release/cba-pays-r206-million-in-dividends-on-december-22nd-104410
Chinalco Carbon Enterprises recently organised a training course on the production technology of prebaked anodes to enhance the theoretical knowledge and technical skills of their technicians. The initiative aimed to boost the technical progress of carbon production and improve the quality of anodes manufactured by Chinalco.
To know more: https://www.alcircle.com/news/two-swiss-carbon-experts-grace-chinalco-s-training-event-on-prebaked-anodes-104421\
Chalco, the aluminium corporation of China, recently announced the establishment of a joint venture between Chalco Zhengzhou Nonferrous Metals Research Institute Co., Ltd. and Zhengzhou Light Metals Research Institute Co., LTD.
To know more: https://www.alcircle.com/news/chalcos-zhengzhou-research-institute-plans-to-create-an-aluminium-jv-worth-rmb20million-104429
The European aluminium sector is the flagbearer of the global environmental, social and governance (ESG) movement with its noble ideology of transforming major production lines into sustainable and eco-friendly ones. In the wake of the Russia-Ukraine crisis, energy prices skyrocketed in the European sector.
In the aluminium industry, a CEO's role is crucial for a company's success. The CEO, widely known as the Chief Executive Officer, serves as the leader responsible for making vital decisions that impact the company's growth and profitability.
To know more: https://www.alcircle.com/news/global-aluminium-brands-top-10-notable-leadership-changes-in-the-last-quarter-of-2023-104442
In a revolutionary decision by the World Trade Organization (WTO) dispute panel, Turkey finds itself compelled to rescind additional duties imposed on imports from the United States. This move has reverberations within the intricate web of global aluminium trade dynamics.
According to China customs data, the country’s unwrought aluminium alloy imports in November 2023 experienced a month-on-month rise of 2.6 per cent and a year-on-year increase of 5.6 per cent to reach 111,800 tonnes. That brought the total year-to-date imports to 1.0196 million tonnes, which was down by 14 per cent Y-o-Y.
In November, Bahrain's exports of domestically produced goods amounted to BD299 million ($792.42 million), representing a 15 per cent decrease compared to the BD350 million shipped in November of the previous year.
To know more: https://www.alcircle.com/news/unwrought-aluminium-alloy-the-top-exported-product-from-bahrain-during-nov23-104401
Century Aluminum’s Chief Accounting Officer, Robert F. Hoffman, has reportedly sold 3,000 shares of the company stocks in a transaction, at an average price of $12 for each stock. That brought the total transaction of $36,000.000.
To know more: https://www.alcircle.com/news/century-aluminums-chief-accounting-officer-sells-3-000-shares-of-the-company-stocks-104405
Affin Hwang Investment Bank Bhd expects Press Metal Aluminium Holdings' Q4 2023 earnings to record a double-digit growth.
In November 2023, primary aluminium production in the Gulf Cooperation Council recorded a month-on-month downfall of 12,000 tonnes or 2.37 per cent to stand at 506,000 tonnes, found the International Aluminium Institute.
Japanese aluminium buyers have reportedly agreed to pay global producers a shipment premium of $90 per tonne over the LME benchmark price for the March quarter of 2024.
To know more: https://www.alcircle.com/news/japanese-aluminium-buyers-agree-to-pay-90-t-as-shipment-premium-for-q1-2024-104443
On Thursday, December 28, China's social inventories of aluminium ingot hit a new low for the year, standing at 434,000 tonnes. Compared to Monday, December 25, the inventories registered a fall of 9,000 tonnes, while from the previous week, December 21, the inventories stood 12,000 tonnes lower.
To know more: https://www.alcircle.com/news/chinas-primary-aluminium-inventories-hit-a-new-low-for-2023-at-434-000-tonnes-104452
Malaysia is a major aluminium importer from the United States. In 2022, the country accounted for 17 per cent of the United States aluminium crude metals and alloys exports and 20 per cent of the United States aluminium scrap exports.
On Friday, December 29, the average alumina spot price in China heightened by RMB 47 per tonne to settle at RMB 3,119 per tonne. The alumina prices have been rising recently due to Guinea's fuel depot blast. As per the Shanghai Metals Market (SMM) data, the prices have grown significantly in all the provinces.
LME aluminium opened at US$2,393.5 per tonne yesterday, with its high and low at US$2,394.5 per tonne and US$2,353.5 per tonne, respectively, before closing at US$2,367 per tonne, a decrease of US$28 per tonne or 1.17 per cent.
Aluminum Corporation of China Limited (Chalco), one of the world's largest producers and suppliers of aluminium, alumina, high-purity aluminium and aluminium anodes, recently won 8 awards, including 1 Luban Award (National Quality Project).
To know more: https://www.alcircle.com/news/chalco-bags-the-national-quality-project-luban-award-for-construction-excellence-104409
Just before Christmas Eve, LG Chem Ltd announced the upcoming construction of a US$1.4bn battery cathode plant in Clarksville located in the US state of Tennessee.
Henan Beijia Aluminum conducted the stage-1 ground-breaking ceremony of its much-awaited electrolytic aluminium plant project of the Indonesia North Plus Project, handled by China 6 MCC Guizhou Branch.
Abdulaziz Sarhan, the Technical Manager of Emirates Global Aluminum (EGA) and Al Jufri, Vice President of the Business Development Department at Indonesia Asahan Aluminium (Inalum), recently led a delegation of technical experts to visit the Qujing production base in Yunnan, China, for a collaborative exchange of technical insights.
To know more: https://www.alcircle.com/news/technical-experts-from-ega-and-inalum-visits-the-qujing-production-base-in-yunnan-104464
The Department of Ecology and Environment of Guizhou Province released the Implementation Plan for the Collaborative Efficiency of Pollution Reduction and Carbon Reduction in Guizhou Province on December 18. The plan aims to facilitate innovation in high-efficiency and energy-saving aluminium electrolysis technology in key enterprises.
Responses
