Top Newsmakers for October 2021: Global power crisis spins aluminium prices to cross $3,000 per tonne; The Netherlands only primary aluminium maker halting production from October 11 due to electricity prices
The global aluminium industry observed several enticing events in the month of October 2021. The interim President of Guinea with the authorities has set up an Audit Committee that will be responsible for scrutinizing the financial misconduct of the Alpha Condé regime majorly of the bauxite mining contracts. The London Metal Exchange witnessed the surge of aluminium price as it crossed the $3000 per tonne mark, the highest since July 2008. The metal aluminium consumes around 14-megawatt hours of power for one-tonne output. According to the Dutch aluminium producer, Aldel, the cost of electricity is currently about 4,500 euros per tonne of aluminium, while the aluminium selling price is around 2,500 euros per tonne.
The Guinea coup leader turned interim President of the West African nation, with the authorities, after showing their intention to tidy out the financials of the former government, by establishing an Audit Committee that will be responsible for investigating the financial misconduct of the Alpha Condé regime, must also now scrutinize the Guinean mining cadastre. The strategic committee will officially review all the mining contracts signed under the Condé era.
To know more: https://www.alcircle.com/news/guinea-coup-leader-calls-to-review-precise-mining-contracts-71681
According to Shanghai Metal Market (SMM), the open-pit bauxite mines in the Jinzhong area of Shanxi were closed due to heavy rains. For alumina plants that use domestic bauxite was less than ten days. Due to the heavy rain roads were blocked, as a result of which the transportation efficiency of a few raw materials declined. In September the production capacity of some alumina plants decreased from 4,000 tonnes per day to 2,000 tonnes per day.
To know more: https://www.alcircle.com/news/alumina-production-in-shanxi-suspended-due-to-heavy-rainfall-70579
National Aluminium Company Limited has increased its aluminium ingot and aluminium products prices with effect from Thursday, October 7, following a decline of INR 1,400 per tonne on October 1. NALCO’s aluminium ingot price is now standing at INR 247,550- 251,050 per tonne, up by INR 2,600 per tonne from INR 244,950-248,450 per tonne on the previous day.
To know more: https://www.alcircle.com/news/nalco-grows-its-aluminium-ingot-price-by-inr2600-t-w-e-f-october-7-after-a-cut-last-week-70570
Aldel, a Dutch aluminium maker based in Delfzijl, is halting its primary aluminium production because of the current rise in electricity prices, which usually account for 40 per cent of the total aluminium production cost. The news came after the Dutch firm’s chief executive officer Chris McNamee told Reuters that the smelter would remain idled from October 11 until at least early 2022.
The high power-intensive produced metal aluminium escalated to new heights since 2008, as the global power distress plunges the metal supplies utilized for the manufacturing of beverage cans to world-class mobile phones. The metal aluminium consumes around 14-megawatt hours of power for one-tonne output, which is considered enough to ferry an average home in Britain for more than three years.
To know more: https://www.alcircle.com/news/global-power-crisis-spins-aluminium-prices-to-cross-3-000-per-tonne-70610
The global auto industry has been alerted for the shortfall of components driven by the Chinese energy crisis. The power distress is restricting the nation towards production curb across a wide range of industries, but especially the impact is huge on aluminium alloys supply. China controls 87% of the World’s magnesium production with functionalizing 50 smelters, while the govt. has directed around 35 magnesium smelters to cease production until the end of 2021. The rest in operation will be producing only 50% of their capacity to ensure energy consumption targets are successfully achieved.
The world’s leading manufacturer in flat-rolled aluminium (FRP), Assan Aluminyum, a subsidiary of Kibar Holding, has settled plans to invest further in sustainable expansions through a sequence of investments worth over $95 million from 2021 through 2024. However, with the accomplishment of the expansion of the project, Assan Alüminyum is expected to have the largest continuous casting capacity in Europe and America.
To know more: https://www.alcircle.com/news/assan-aluminyum-finalizes-further-investment-in-sustainable-expansions-71650
One of the leading producers of rolling aluminium and the global leader in beverage can recycle announced that they will invest US$130 million in their Oswego, New York operations to fulfil growing customer demand for sustainable aluminium flat-rolled products. This project will enable Novelis to ascend their hot mill capacity at the factory, which services the can, automotive, and speciality products industries, by 124,000 metric tonnes, as well as improve automotive sheet finishing capabilities.
To know more: https://www.alcircle.com/news/novelis-plans-investment-of-130-million-to-boost-oswego-operations-71656
The scarcity of aluminium foil, along with the increase in its price, may cause a shortage of many important medications, since their production has become unprofitable. The pricing of 680 scheduled medication formulations is regulated by the National Pharmaceutical Pricing Authority. The wholesale price index is used to update prices once a year.
To know more: https://www.alcircle.com/news/scarcity-of-aluminium-foil-may-disrupt-drug-supply-chain-71668
Domestic aluminium scrap accounts for 89 percent of total secondary aluminium raw materials in China, indicating that secondary aluminium manufacturing has become increasingly self-sufficient. China's secondary aluminium manufacturing capacity has surpassed 14 million metric tonnes, accounting for around 30% of worldwide secondary aluminium output. It has also surpassed Japan as the world's top producer of secondary aluminium.
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