Primary Aluminium Weekly Recap: Valuation of Lochaber aluminium smelter scales up by £100 million, NALCO puts its 960th potline into operation
Some of the important news spotted in the global primary aluminium industry this week included the valuation of Lochaber aluminium smelter scaled up by £100 million, which was acquired from Rio Tinto Alcan and a very small amount was further invested. The news came on Monday, January 10, after the liberal, federalist political party in Scotland, Scottish Liberal Democrats asserted that Sanjeev Gupta’s GFG Alliance comprehended the valuation.
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According to another report, Tomago Aluminium is compelled to prepare numerous backup plans for the supply of crucial materials to keep the country's largest aluminium smelter operational. CEO Matt Howell anticipates the shortages to last for a long time. The supply chain issues come on top of the severe interruptions that had already occurred among the workers at the factory in north of Newcastle as a result of infections caused by the omicron strain of COVID-19 and the need for worker isolation.
To know more: https://www.alcircle.com/news/tomago-aluminium-prepares-backup-plans-to-keep-the-countrys-aluminium-smelter-operational-75363
Aluminium prices are reaching new highs for European consumers as a result of rising energy costs and production cuts, which have worsened metal shortages in the power, building, and packaging industries. Consumers who buy aluminium on the physical market normally pay the London Metal Exchange's benchmark price — roughly $2,950 per tonne on Tuesday — plus a physical market premium that often covers transportation expenses and taxes. However, due to shortages, dealers and manufacturers with inventories may fetch a far higher premium, which has risen nearly 30% to a record $428.75 per tonne in Europe since the start of 2022.
To know more: https://www.alcircle.com/news/europe-aluminium-price-elevates-due-to-increasing-energy-cost-and-production-curbs-74358
The Indian state-owned National Aluminium Company Limited (NALCO) has attained another landmark in aluminium smelting this week. The integrated aluminium company has gainfully put all the 960 potlines into operation at its existing aluminium smelter located at Angul, Odisha. On January 12, 2022, the CMD of NALCO, Sridhar Patra officially functionalized the 960th potline by virtually switching from the NALCO Corporate Office, Bhubaneswar, Odisha. Nalco in its long journey of 41 years has eventually achieved operation of 100% pots in aluminium smelter for the first time in history.
To know more: https://www.alcircle.com/news/nalco-eventually-achieves-operation-of-100-potlines-in-its-aluminium-smelter-75359
The biggest aluminium producer and VAP maker of India, Vedanta Aluminium has ranked as the largest industrial consumer of renewable energy (RE) in 2021, leading renewable energy procurement on India’s power exchanges – Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL).
The Indian commodity tycoon, Anil Agarwal led Vedanta Aluminium procured about 2 billion units of RE power in the year 2021 for consumption at its aluminium smelter in Jharsuguda, Odisha. Consequently, it contracted GHG emissions magnitude at the smelter by more than 1540 KtCO2e (kilo tonnes of CO2 equivalent) in the year.
To know more: https://www.alcircle.com/news/vedanta-aluminium-ranks-indias-largest-industrial-consumer-of-renewable-energy-in-2021-75366
In December (31 calendar days) 2021, China produced 3.18 million tonnes of aluminium, which was 3.17 per cent less than a year ago but 3.58 per cent more than 3.07 million tonnes in November 2021, found the Shanghai Metals Market data. The daily average output was 102,400 tonnes, up 100 tonnes per day month-on-month. The improvement in aluminium production in December could be a result of the rise in operating capacity. Some aluminium smelters in Inner Mongolia, Yunnan, and Shanxi increased their output, resuming the production of a total capacity of around 240,000 tonnes.
On Thursday, January 13, Hindalco Industries Limited hiked its aluminium ingot and aluminium products prices in line with the LME aluminium benchmark price surge yet again above US$3,000 per tonne. Hindalco increased its aluminium ingot price by INR 4,250 per tonne to INR 255,250 per tonne. On Wednesday, January 12, the company’s aluminium ingot price stood at INR 251,000 per tonne seeing a rise of INR 1,500 per tonne.
National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium products prices for the second time in a row, with effect from Friday, January 14. The company’s aluminium ingot price saw a rise of INR 2,100 per tonne to a range between INR 249,550- 253,050 per tonne. A week ago, on January 7, NALCO’s aluminium ingot price was raised by INR 9,100 per tonne to stand at INR 247,450- 250,950 per tonne.
The LME aluminium benchmark price opened the week on Monday, January 10, at US$2,923 per tonne, which grew the next day by US$27 per tonne to come in at US$2,950 per tonne. On January 12, 2022, the price further increased by US$53 per tonne to exceed US$3,003 per tonne. However, on Thursday, January 13, the LME aluminium price sharply decreased by US$43 per tonne to close at US$2,960 per tonne.
The SHFE aluminium benchmark price increased through the week from US$3,307 per tonne on January 10 to US$3,339 per tonne on January 14.
To know more: https://www.alcircle.com/news/shfe-price-slumps-by-us44-t-to-stand-at-us3-3339-t-lme-aluminium-settles-at-us3-003-t-75367
This week, AlCircle has launched its latest report - Aluminium Industry Recap 2021, summarising the important developments throughout the year. The report has covered the major inventions, expansions, growth, investments, and other important legislative changes that reshaped the global aluminium sector value chain 2021. All the events mentioned in the recap are analysed analytically to ensure the readers with a critical comprehension of all the movements that had taken place in the aluminium value chain in the said year.
To know more: https://www.alcircle.com/news/alcircle-launches-new-report-aluminium-industry-recap-2021-75362
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