This week brought several noteworthy developments in the upstream aluminium sector, spanning bauxite, alumina, and primary aluminium. The Government of Canada introduced a 25 per cent tariff on select Chinese aluminium and steel products while also detailing the enforcement of Section 53 of the Customs Tariff Act. This move follows Canada's decision in August to impose a 100 per cent levy on Chinese-made electric vehicles, signalling a stronger alignment with the trade policies of its major allies. Meanwhile, at LME Week 2024 on Monday, September 30, Rusal expressed confidence that the current supply-demand gap in the global aluminium market would narrow, expecting a market balance by late 2025. This optimism is fuelled by a recent uptick in demand, primarily driven by China's stimulus measures. Indonesia's PT Aneka Tambang (ANTAM) has also begun the initial bauxite injection phase at its Smelter Grade Alumina Refinery (SGAR) Mempawah Project.
{alcircleadd}The Government of Canada released a list of Chinese aluminium and steel products subject to a 25 per cent tariff, along with details on implementing Section 53 of the Customs Tariff Act. This action follows a previous decision in August to impose a 100 per cent levy on Chinese-made electric vehicles, aligning Canada's trade policy more closely with its key allies. The measure aims to protect domestic manufacturers from lower-cost imports from China, Asia's largest economy.
To know more: https://www.alcircle.com/news/canadas-steel-aluminium-industry-applauds-new-tariffs-imposed-on-chinese-products-112117
At LME Week 2024 on Monday, September 30, Rusal voiced confidence that the current supply-demand gap in the global aluminium market would soon close, expecting equilibrium by the end of 2025. This positive outlook is driven by a market recovery fueled by China's stimulus program, which has significantly boosted demand.
PT Aneka Tambang, an Indonesian mining company, had begun the first bauxite injection phase at its Smelter Grade Alumina Refinery Mempawah Project. The company stated that this phase initiates the commissioning of the project, which is a joint effort between PT Aneka Tambang, popularly known as ANTAM, and PT Indonesia Asahan Aluminium, recognised as INALUM.
In August 2024, global alumina production remained strong, slightly increasing from July's total of 12.511 million tonnes. This rise was fuelled by increased output in Africa and Asia (excluding China), South America, and Europe (including Russia), which helped counterbalance declines in Oceania and North America. For the fourth consecutive month in 2024, worldwide alumina production surpassed 12 million tonnes. However, compared year-on-year, production decreased from 12.517 million tonnes.
On Monday, September 30, Rio Tinto announced the completion of acquiring another 11.65 per cent interest in Mitsubishi Corporation-owned Boyne Smelters Limited (BSL). The latter owns and operates the Boyne Island aluminium smelter in Gladstone, Australia.
To know more: https://www.alcircle.com/news/rio-tinto-completes-the-acquisition-of-11-65-stake-in-boyne-smelters-limited-112119
Alcoa of Australia Limited has secured a long-term power agreement with AGL Energy to provide additional electricity for its Portland aluminium smelter in Victoria. According to the contract, AGL Energy Limited, a leading Australian energy provider offering electricity, gas, solar, and renewable energy services, will deliver an extra 287 megawatts (MW) of electricity to the Portland smelter through to June 30, 2035.
In August 2024, primary aluminium production in Europe saw continued growth, hitting a new record. Output rose by 2,000 tonnes or 0.34 per cent month-on-month and by 29,000 tonnes or 5.1 per cent year-on-year. This growth was supported equally by Russia, Eastern Europe, and Western and Central Europe.
On Friday, October 4, Vedanta Limited released its second-quarter and H1 results for FY2024-25, ending September 30, reporting record-high aluminium production for both the quarter and the half-year. In H1 FY2025, Vedanta produced a total of 1.205 million tonnes of aluminium, with Q2 output reaching 609,000 tonnes, marking a 2.18 per cent increase from the 596,000 tonnes produced in Q1 FY2025.
Emirates Global Aluminium (EGA) has become the first company in the UAE to implement a digital greenhouse gas emissions tracking system. This technology will greatly accelerate EGA's decarbonisation efforts, improving transparency in reporting GHG emissions in line with the UAE's National MRV Transparency System.
To know more: https://www.alcircle.com/news/ega-the-first-in-uae-implements-a-centralised-digital-ghg-emissions-tracking-system-111885
EPIQ Machinery, a leading global equipment manufacturer, is experiencing rapid growth and is set to acquire the mining and metals operations of Alizent Canada and Alizent USA. This acquisition will lead to the creation of a new entity, EPIQ DIGITAL. This strategic move will allow EPIQ Machinery to expand its service offering by introducing a cutting-edge digital operations management platform designed to better support its aluminium sector clients as they transition into Industry 4.0.
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