Weekly Alumina Recap: Alumina spot price in China soared above RMB3000/t; Eurallumina on last stages to resume production
The global alumina industry saw a few updates this week that included China’s domestic alumina price surge and Europe’s one of the largest alumina refineries Eurallumina to resume operations in a while.
The average alumina spot price in China rose throughout the week starting at RMB2,802 per tonne on Monday, August 30. On Tuesday, August 31, the price jumped by RMB96 per tonne to stand at RMB2,898 per tonne, which further increased on Wednesday, September 1, by RMB76 per tonne to come in at RMB2,974 per tonne. On September 2 and 3, China’s domestic alumina price continued to grow to RMB3,029 per tonne and RMB3,074 per tonne, respectively.
According to a report on August 30, Eurallumina, one of Europe’s largest alumina refineries located in the industrial area of Portovesme, South West coast of Sardinia, Italy, will resume operations if successfully able to overcome two hurdles. The refinery’s first hurdle concerns the signing on the Sardinia Dpcm that is the provision relating to the arrival of methane on the island, particularly in Portovesme. The second hurdle is the conclusion of the authorization procedure that signals the green light towards the restructuring and modernization of the refinery.
To know more: https://www.alcircle.com/news/europes-largest-alumina-refinery-eurallumina-on-last-few-stages-to-resume-production-70234
As per a report this week, the United States imported 383,000 tonnes of alumina in the second quarter of 2021, which reflected a decrease of 33,000 tonnes or 7.93 per cent from 416,000 tonnes in the first quarter. However, on a year-on-year calculation, the United States alumina imports in Q2 2021 stood 6.09 per cent higher than 361,000 tonnes.
In the six-month period, the United States total alumina imports amounted to 799,000 tonnes, up 11.28 per cent from 718,000 tonnes during the same period last year.
On 31st August 2021, the affected inhabitants restarted their protest against the construction of the second red mud pond by NALCO near Denga Jani Guda under the Dasmantpur block. The protesters staged a dissent in front of the Koraput Collector’s office demanding complete displacement and immediate compensation as per the latest Rehabilitation and Resettlement policy.
Several distressed villagers including the women of Denga Jani Guda said: “We will not allow construction of the second red mud pond and related works in the area if proper rehabilitation package is not provided to them soon.”
To know more: https://www.alcircle.com/news/protest-resumes-in-odisha-against-nalcos-construction-of-second-red-mud-pond-70258
An advisor to China Hongqiao Group stated that the Group’s alumina refinery in Indonesia would commence its 2nd phase by the end of 2021. The news came after Ron Knapp, International Adviser of Hongqiao, said: "A second phase of the Indonesian project - another 1 million tonnes - should come online later this year.”
Initially, 2020 was the target time to execute the 2nd phase of the project. The first phase of production with 1 million tonne capacity was initiated in 2016.
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