The primary aluminium sector has been packed with several significant advancements this week. PT Indonesia Asahan Aluminium (Persero), or Inalum, is about to expand its aluminium smelter in Kuala Tanjung, North Sumatra and initiate the second act in the Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan. The expansion will increase the aluminium smelter's capacity to 600,000 tonnes, and the SGAR plant's alumina production capacity will reach 3 million tonnes per year, up from 1 million. Aluminium Bahrain (Alba) is preparing to auction off equipment from its old power plants, PS1 and PS2, in Aska, Bahrain. The auction will be hosted by public auction specialist Mazad. There has been a significant change in the origin of aluminium stored in the London Metal Exchange (LME) warehouses. Russian metal makes up 90% of the aluminium in the LME warehouses as of December 2023. The reasons for this shift are complex and multifaceted and may be due to sanctions imposed on Russia, logistical challenges or market speculation.
On January 7, 2024, Aluminium Bahrain B.S.C. (Alba) held a ceremony to recognise the employees’ efforts behind the successful completion of the planned development programmes in 2023, which could be possible because of the constant skill development and training programmes given to the employees to enhance their workmanship.
In the latest edition of the Catalogue of Industrial Water-saving Technologies by the Ministry of Water Resources and the Ministry of Industry and Information Technology, notable advancements in water-saving technologies within the aluminium industry have been acknowledged. Chinalco Group, a prominent player in the industry, has successfully secured recognition for five of its water-saving technologies.
Embarking on a visionary path, Aluminium Bahrain B.S.C. (Alba) sets its gaze firmly ahead, as articulated by the CEO, Ali Al Baqali, during the inauguration of the Annual Majlis 2024 sessions on January 8, 2024, at the Oasis Hall.
To know more: https://www.alcircle.com/news/albas-ceo-boldly-initiates-the-annual-majlis-2024-sessions-in-bahrains-oasis-mall-104570
Aluminium Bahrain BSC (Alba), a notable player in the primary aluminium industry, is auctioning off equipment from its former power plants, PS1 and PS2, in Aska, Bahrain. These power plants are integral to Alba's strategic plan to expand its existing PS5 facility.
In a momentous celebration of a 150-year partnership between Rio Tinto and the Indian government, India's Post Office has issued a new 5 rupee stamp titled 'Rio Tinto 150.' This commemorative stamp, part of the 'My Stamp' series, signifies the enduring collaboration between the Anglo-Australian mining giant and India, recognising Rio Tinto's significant contributions to the nation's development.
A recent blaze at the Krasnoyarsk smelter, a pivotal bastion in Rusal's colossal arsenal, briefly threatened the symphony of production that yielded 3.8 million metric tonnes of aluminium in the annals of 2022.
To know more: https://www.alcircle.com/news/rapid-safety-responses-avert-major-fire-threat-at-rusals-aluminium-smelter-in-siberia-105598
According to a report published by S&P Global, an American publicly traded corporation headquartered in Manhattan, the European aluminium billet market labelled 2023 a year of demand deflation and hesitant purchases. A buyer said the poor demand for aluminium billet was due to a depressed mechanical engineering market, adding that stocking would not increase much for meagre expectations for Q1 2024.
According to the Shanghai Metals Market data, China’s aluminium production in the last month of 2023 (31 days) registered a month-on-month increase of 2.12 per cent and a year-on-year rise of 3.6 per cent to reach 3.562 million tonnes. However, the average daily domestic output dropped by 1,400 tonnes to 114,900 tonnes.
At the end of December 2023, a staggering 90 per cent of the aluminium stored in the LME was of Russian origin, according to the exchange's latest data. This marks a significant increase from less than 10 per cent before the Ukraine-Russia geopolitical crisis began to nearly 80 per cent at the end of November.
To know more: https://www.alcircle.com/news/russian-aluminium-dominates-lme-stocks-soaring-to-90-104589
On Thursday, January 11, both LME aluminium cash bid price and LME aluminium official settlement price inched down by US$0.5 per tonne or 0.02 per cent and US$1 per tonne or 0.04 per cent to settle at US$2,202.50 per tonne and US$2,203 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-inches-down-to-us2-203-t-shfe-price-moves-up-by-us1-t-105593
Today, on January 12, the SMM aluminium ingot price has shed RMB 30 per tonne to rest at RMB 19,130 per tonne, with the average prices hovering around RMB 19,110 per tonne and RMB 19,150 per tonne.
In the vibrant landscape of 2024, PT Indonesia Asahan Aluminium (Persero), also called Inalum, is poised to unfurl the sails of innovation on two grand ventures. With a resounding declaration, CEO Danny Praditya has illuminated the corporate horizon, announcing the Final Investment Decision (FID) to expand an aluminium smelter nestled in the heart of Kuala Tanjung, North Sumatra.
To know more: https://www.alcircle.com/news/inalum-plans-to-expand-its-kuala-tanjung-aluminium-smelter-in-2024-104577
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