Primary aluminium weekly recap: VALCO stops aluminium production due to ongoing labour dispute; BALCO conducts successful pilot trial of biodiesel application in its aluminium smelter
This week, the global primary aluminium industry witnessed many important events. Like, Volta Aluminium Company (VALCO) halted operations due to the ongoing labour disputes over a wage bar to BALCO successfully carrying out test runs using biodiesel in smelting operations. In the pilot test, the business used biodiesel to heat ladles or vehicles that move hot metal (aluminium) from plotlines to casting houses while still molten. Based on the CRISIL research, the operating margin for Indian primary aluminium producers is expected to fall by more than 1200 basis points (bps) to 22–24% this fiscal year due to reduced realisations and rising production costs. In the Financial Year 2022, Press Metal Aluminium Holdings Bhd is anticipated to have an exponential double-digit net profit (FY22). Although the spot price of aluminium has decreased, the cost of carbon anodes has increased sufficiently, which will raise operating expenses.
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The Volta Aluminium Company (VALCO), a subsidiary of Kaiser Aluminium operating from Ghana, halted its operations due to the ongoing dispute among workers for a salary bar adjusted with the dollar rate.
To know more: https://www.alcircle.com/news/valco-stops-aluminium-production-due-to-worker-uproar-for-dollar-equivalent-salary-86006
The renowned Indian aluminium manufacturer Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Aluminium, successfully executed test runs for biodiesel in smelting operations. In the pilot test, the company preheated ladles or vehicles that transport hot metal (aluminium) in its molten condition from plotlines to cast houses by fuelling them with biodiesel.
To know more: https://www.alcircle.com/news/balco-conducts-successful-pilot-trial-of-biodiesel-application-in-its-aluminium-smelter-86014
The Russian aluminium giant and the sole primary aluminium producer in Russia, RUSAL, revealed its updated corporate Environmental Policy. The Environmental policy sets the company goal as “Creating a fundamentally new approach to production to meet the principles of the green economy” and for this purpose, RUSAL will pursue leveraging the best available technologies and innovations, striving to harmonize the company's development while mitigating adverse environmental impacts.
To know more: https://www.alcircle.com/news/russian-aluminium-producer-rusal-discloses-its-updated-corporate-environmental-policy-85977
Australia's leading provider of aluminium products and associated services, Capral, introduced LocAl®, a lower-carbon primary aluminium option available across Capral's locally manufactured extruded aluminium products.
Emirates Global Aluminium, the world's largest producer of 'premium aluminium', with smelters in Abu Dhabi and Dubai, welcomed His Excellency Sameh Al Qubaisi, Director General of Economic Affairs at the Abu Dhabi Department of Economic Development (ADDED) to the business's Al Taweelah site.
To know more: https://www.alcircle.com/news/ega-welcomes-his-excellency-sameh-al-qubaisi-at-the-al-taweelah-site-in-abu-dhabi-85998
Emirates Global Aluminium (EGA), the largest industrial organisation in the United Arab Emirates (UAE), excluding oil and gas, joined the First Movers Coalition to support cutting-edge clean solutions in challenging industries.
To know more: https://www.alcircle.com/news/ega-joins-the-first-movers-coalition-to-encourage-decarbonisation-in-hard-to-abate-sectors-86010
Alcoa Corporation, the world’s eighth largest aluminium producer, had won the Aluminum Industry Leadership award at the 10th annual Platts Global Metals Awards, which recognise and celebrate leadership, innovation, stewardship and commitment to a greener future.
On November 3rd, 2022, London-based Vedanta Resources, the holding company of India’s Vedanta Limited, discontinued the rating services of Moody’s after the latter lowered the company’s ratings on debt concerns.
To know more: https://www.alcircle.com/news/unfavourable-ratings-by-moody-s-led-vedanta-resources-to-conclude-the-engagement-86029
Climate change is one of the most challenging situations to tackle, especially for the workers who work under hot conditions; ensuring a safe and sound environment under such a situation is really important.
Emirates Global Aluminium, the biggest industrial enterprise in the United Arab Emirates, excluding the oil and gas sectors, bagged the platinum UAE Innovation Award from Dubai Quality Group, a UAE-based training and knowledge-sharing global hub.
Social inventories of primary aluminium across China’s eight major consumption areas, including SHFE warrants, stood at 613,000 tonnes, after being slipped by 8,000 tonnes or 1.29 per cent over the weekend from 621,000 tonnes, found the Shanghai Metals Market data.
To know more: https://www.alcircle.com/news/lower-cargo-arrivals-continue-to-cause-primary-aluminium-inventories-downfall-across-china-85996
Press Metal Aluminium Holdings Bhd is estimated to mark an exponential double-digit net profit in the Financial Year 2022 (FY22). Though aluminium spot prices have declined, there is a sufficient hike in carbon anode prices which will increase operational costs.
To know more: https://www.alcircle.com/news/press-metal-s-net-profit-to-escalate-by-50-y-o-y-in-financial-year-2022-85999
According to a report on Monday, October 31, South Africa’s Industrial Development Corporation (IDC), a national development finance institution, expanded its shareholding in Mozambique’s Mozal Aluminium to 32.45 per cent. Earlier, IDC had a 24 per cent share in the hydropowered smelter, located 20 Km west of Maputo.
On Monday, October 31, a report from CRISIL showed a high possibility of Indian primary aluminium producers’ lower operating margin by more than 1200 basis points (bps) this financial year to 22-24 per cent, owing to decreased realisations and soaring production costs.
On Thursday, November 3, both LME aluminium cash bid price and LME aluminium official settlement price went down by US$11 per tonne or 0.49 per cent to stop at US$2,215.50 per tonne and US$2,216 per tonne.
To know more: https://www.alcircle.com/news/lme-aluminium-price-slips-by-us11-t-to-us2-216-t-shfe-price-expands-by-us22-t-86030
A00 aluminium ingot price has glided up by RMB 30 per tonne, closing at RMB 18,280 per tonne, as the Shanghai Metals Market recorded on Friday, November 4. The average prices were expected to range between RMB 18,260 per tonne and RMB 18,300 per tonne, with spot contracts trading at the premium price of 10 per tonne and 50 per tonne.
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A billet is one of the most widely used aluminium product forms globally. Billets can be produced immediately by continuous casting, extrusion, or hot rolling an ingot or bloom. On Thursday, November 3, aluminium billet inventories in China increased by 4,700 tonnes W-o-W, closing at 60,500 tonnes.
To know more: https://www.alcircle.com/news/aluminium-billet-inventories-in-china-ascends-by-4-700-tonnes-w-o-w-to-60-500-tonnes-86024
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