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THINK ALUMINIUM THINK AL CIRCLE
Aluminium is an essential component of the global economy. The rising demand for green metal clearly shows that no matter how many setbacks or blips come across, the market or the need for this green metal will never decrease.
The upstream aluminium sector, encompassing bauxite, alumina, and primary aluminium recorded some important events. Top companies like NACLO, Century Aluminium, Ma’aden, ALRO and Hindalco released their financial results, reflecting significant growths. To begin with, Ma'aden, Saudi Arabia's premier mining company, announced a remarkable 160 per cent increase in profitability owing to a notable rise in sales volumes, particularly in primary aluminium and gold. ALRO reported a positive turnover of RON 1.697 billion, driven by stronger London Metal Exchange (LME) quotations and higher sales of value-added aluminium products. To know more, read below:
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Ma'aden, Saudi Arabia's premier mining company, announced a remarkable 160 per cent increase in profitability, achieving a net profit of SR2 billion ($532 million) for H1 2024 compared to the same period in 2023. The significant growth, highlighted in a statement on the Saudi stock exchange Tadawul, was fuelled by a notable rise in sales volumes, particularly in primary aluminium and gold, which contributed SAR 218 million to Q2 2024—a 3 per cent increase year-on-year.
To know more: https://www.alcircle.com/news/ma-aden-reports-160-profit-surge-in-h1-2024-driven-by-aluminium-and-gold-sales-111686
In its consolidated and separate financial results for the first half of 2024, ALRO, one of Europe's leading vertically integrated aluminium producers by capacity, showcased a significant improvement in financial performance. For the six months ending June 30, 2024, the Group reported a turnover of RON 1.697 billion, marking a 9 per cent increase compared to RON 1.559 billion during the same period in 2023.
To know more: https://www.alcircle.com/news/alro-s-h1-2024-results-show-a-positive-shift-turnover-increases-net-profit-restored-111695
On Tuesday, August 13, Hindalco Industries Limited announced its first quarter results for the financial year 2024-25, ending on June 30. The company reported strong fiscal growth, attributing it to the rise in global aluminium prices on the London Metal Exchange.
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter outside of China, has reported significant financial growth for the second quarter of 2024, driven by increased sales and higher global aluminium prices. After experiencing a year-on-year decline in fiscal output during Q1, Alba has successfully recovered, posting a revenue of BD407 million (US$1,082.3 million) in Q2, a 5.2 per cent increase from BD387 million (US$1,029.4 million) year-on-year.
To know more: https://www.alcircle.com/news/albas-financial-earnings-rebound-in-q2-achieving-over-100-growth-in-profit-111696
India's state-owned integrated aluminium company, NALCO, has reported a substantial 76 per cent increase in its first-quarter profit for FY25 (April-June), driven by higher aluminium prices and reduced costs. For the quarter ending June 30, the company's consolidated profit surged to INR 588.42 crore (approximately $70 million), marking a significant improvement from the previous year.
To know more: https://www.alcircle.com/news/nalco-records-strong-q1-profit-growth-revenue-dips-10-111681
Century Aluminum Company, a U.S.-based producer of primary aluminium, reported its second-quarter 2024 results, showing net sales of $560.8 million, a 14.57 per cent increase from $489.5 million in the previous quarter, despite lower shipment volumes. The rise in sales was primarily supported by higher average aluminium prices, which exceeded US$2,500 per tonne in May.
China’s A00 aluminium ingot price started the week with a fall of RMB 20 per tonne to settle at RMB 18,990. The next day, the domestic aluminium ingot price showed no change for the first five months as of 13th August, marking a significant pause in the usual daily movements. The prices on Wednesday declined by RMB 40 per tonne followed by a growth of RMB 60 per tonne to dock at RMB 18,950 per tonne and RMB 19,010 per tonne. However on Friday, the price had skyrocketed by RMB 220 per tonne to settle at RMB 19,230 per tonne.
As per the LME aluminium price graph, the benchmark price opened the week with a upward movement of US$5 per tonne to settle at US$2,268 per tonne, followed by a fall of US$11.5 per tonne to clock at US$2,256.50 per tonne. The prices on Wednesday and Thursday hiked by US$42.50 per tonne and US$2 per tonne to reach US$2,299 per tonne and US$2,301 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-moves-up-by-us2-t-shfe-price-hikes-to-us2-678-t-111719
According to the National Bureau of Statistics (NBS), China's primary aluminium production in July 2024 surged to its highest level in over two decades. The country, which is the world's leading aluminium producer, achieved an output of 3.68 million tonnes, marking a 6 per cent year-on-year increase and the highest monthly production since at least 2002.
China’s domestic aluminium production in July 2024 reached a new high, recording a 3.22 per cent increase year-on-year and a 3.66 per cent rise month-on-month, attributed to full production resumption at Yunnan smelters and new capacity commencement in Inner Mongolia.
The share of Russian aluminium stocks on the London Metal Exchange-approved warehouses continued to increase in July 2024, accounting for 65 per cent of the total stocks. In June, the share of stocks of Russian origin on the London Metal Exchange was 50 per cent after rising from 42 per cent in May.
According to a survey by the Shanghai Metals Market, China's alumina production in July 2024 continued its upward trend, driven by higher operating rates in Shanxi, Henan, Hebei, and Guangxi. During the 31-day month, the country produced 7.173 million tonnes of metallurgical-grade alumina, reflecting a 4.84 per cent month-on-month increase from 6.842 million tonnes and a 4.43 per cent rise year-on-year.
In June 2024, South America's alumina production surged to its highest level in six months, reaching 1.045 million tonnes. This marks a 2.85 per cent increase from the previous month and a significant 19.29 per cent rise compared to June 2023. This production level is a stark contrast to the lowest output recorded in June 2023, when only 876,000 tonnes were produced during the first half of the year.
Indonesia’s state-owned mining holding company, MIND ID, has officially confirmed that its Smelter Grade Alumina Refinery (SGAR) project is set to begin operations in September 2024. This project is a key component of MIND ID’s overarching strategy to enhance infrastructure and increase the value of mineral commodities within Indonesia.
To know more: https://www.alcircle.com/news/mind-id-announces-september-2024-launch-for-smelter-grade-alumina-refinery-project-111676
Impact Minerals Limited announced a significant milestone in developing its Lake Hope High Purity Alumina (HPA) Project, located approximately 500 kilometres east of Perth, Western Australia. The company has lodged a Mining Lease Application (MLA 63/684) alongside a Miscellaneous Licence (L63/99), marking a crucial step forward as the project advances towards production.
To know more: https://www.alcircle.com/news/lake-hope-hpa-project-advances-as-impact-minerals-limited-lodges-mining-lease-111689
In recognition of its exemplary mining practices, the Baphlimali Bauxite Mine, operated by Utkal Alumina, a subsidiary of Hindalco Industries Limited, has been honored with the prestigious 5-Star Rating Award. Presented by the Ministry of Mines, Government of India, this award celebrates the mine's exceptional achievements in social responsibility, environmental stewardship, technical and scientific excellence, and sustainable land use.
To know more: https://www.alcircle.com/news/hindalco-s-baphlimali-bauxite-mine-shines-with-5-star-rating-in-environmental-excellence-11167
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