Primary aluminium weekly recap: Vedanta acquires 2nd rank in S&P Dow Jones Sustainability Index for FY2021-22 aluminium industry; Hydro calls for sanctions against Russian aluminium adhering EU’s Critical Raw Materials Act
Vedanta Aluminium has attained the second position in world ranking according to the S&P Dow Jones Sustainability Index (DJSI) for the aluminium industry (FY2021-22). Hydro spearheads the call for sanction against Russian aluminium under provisions laid by the EU’s Critical Raw Materials Act. The Brazilian aluminium industry has vouched to depend less on imports and utilise more domestically produced metal in 2023, owing to the demand for aluminium in the inland territories. The LME aluminium price kept escalating with a slight downfall nearing the end of this week on Thursday, January 26, halting at US$2,598 per tonne, whereas the overall trajectory was by US$12.50 per tonne or 0.48 per cent if we take Monday’s data into account, which was US$2,585.50 per tonne as of Friday, January 20. SHFE was closed for the Chinese New Year Holidays.
As the New Year 2023 sets in, the AlCircle team is again on the toe to release a fresh edition of its flagship e-Magazine. Yes, you guessed it right. We are prepping to launch the "Aluminium LeaderSpeak 2023". It is the fifth edition of the magazine this year, and so we aim to bring to you more opinions and insights from our leadership into the aluminium value chain.
South32 has been facing an accumulation of inventory and working capital at the firm’s South African operations due to the prevailing shipment problems laid by the country’s port, which is controlled by the state-owned corporation Transnet.
To know more: https://www.alcircle.com/news/south32-marks-us100-million-capital-build-for-clogged-ports-halting-aluminium-shipments-89770
On Tuesday, January 24, the Aluminium Stewardship Initiative announced the joining of Vedanta Limited (Aluminium Business) as a new Production and Transformation member. Vedanta Aluminium is one of the world’s leading aluminium producers and the largest in India, with operations in Odisha and Chhattisgarh.
To know more: https://www.alcircle.com/news/vedanta-aluminium-joins-asi-as-a-new-production-transformation-member-89787
The year 2023 marked the first time since the COVID-19 pandemic began that the World Economic Forum in Davos, Switzerland, was attended by attendees. The theme of the meeting was “co-operation in a fragmented world.”
The Brazilian aluminium industry is anticipated to depend less on imports and emphasise domestically produced metal in 2023 due to the demand for aluminium and the plans for significant extensive production capacity.
To know more: https://www.alcircle.com/news/2023-brazils-aluminium-production-to-gain-momentum-imports-anticipated-to-decline-89793
On March 8, the EU will introduce its Critical Raw Materials Act, ensuring that the bloc has access to the lithium, cobalt, nickel, manganese, and graphite needed for electric vehicles.
According to S&P Dow Jones Sustainability Index (DJSI), Vedanta Aluminium, India’s largest aluminium producer, has achieved the 2nd spot position in world rankings for the aluminium industry for FY2021-22. The S&P Dow Jones Sustainability Index is the world-class benchmark to assess the companies’ performance in terms of economic, environment, and social criteria.
The world’s biggest premium aluminium manufacturer, Emirates Global Aluminium (EGA), reported that it catered 203,000 tonnes of waste to other industries as feedstock in 2022. The quantity was almost twice as much as the EGA produced in 2022, resulting in lower stocks than in prior years and a 40 per cent increase in 2021 as the economy recovered from COVID-19.
To know more: https://www.alcircle.com/news/ega-reported-several-tonnes-of-waste-supply-to-other-industries-as-feedstock-in-2022-89803
Aluminium Stewardship Initiative has awarded PT Indonesia Asahan Aluminium (INALUM) Persero the Performance Standard V3 (2022) Certification for the smelting plant at Kuala Tanjung, Indonesia.
The Indian mining and metal giant Vedanta's board of directors has approved plans to source 91 MW of Hybrid Renewable Power, according to a regulatory filing. 50 MW will be used for aluminium operations, 16 MW for copper operations, and 25 MW for oil and gas operations across India.
According to the International Aluminium Institute, world primary aluminium production in December 2022 amounted to 5.859 million tonnes, bringing the total output of 2022 to 68.417 million tonnes. The worldwide annual production in 2022 edged 1.97 per cent higher than 67.092 million tonnes a year ago, despite production cut at many smelters across the globe due to the energy crisis.
On January 23, 2023, the global resources company, South32 Ltd., downgraded the annual production forecast for its Brazil Aluminium operations, but the group remains optimistic in the days ahead.
To know more: https://www.alcircle.com/news/south32-lowers-its-brazilian-aluminium-production-forecast-89767
On January 21, Hindalco’s aluminium billets price was lifted by INR 3,500 per tonne to INR 254,600 per tonne, after being slashed by INR 9,250 per tonne on January 20 from INR 260,350 per tonne to INR 251,100 per tonne.
To know more: https://www.alcircle.com/news/hindalcos-aluminium-billets-price-closed-the-week-ended-january-21-at-inr254600-t-89771
In the first nine months of the current Iranian calendar year (March 21–December 21, 2022), Iran's aluminium ingot production increased by 19 per cent compared to last year.
To know more: https://www.alcircle.com/news/iranian-aluminium-ingot-output-leaps-19-in-the-first-nine-months-89798
Mahanadi Coalfields Limited (MCL), one of the eight subsidiaries of Coal India Limited and India’s major coal-producing companies, is mulling to make a debut in aluminium business and soon setting up a greenfield project. Sources say the mini ratna company is looking to secure a bauxite mine for the purpose.
According to a recent report, New Zealand’s Aluminium Smelter at Tiwai Point is independently monitoring Seawater in Bluff Harbour, Awura Bay and Foveaux Strait for signs of contamination.
To know more: https://www.alcircle.com/news/nzas-commissions-independent-monitoring-for-contamination-on-the-tiwai-site-89778
source https://www.alcircle.com/news/primary-aluminium-weekly-recap-vedanta-acquires-2nd-rank-in-s-p-dow-jones-sustainability-index-for-fy2021-22-aluminium-industry-hydro-calls-for-sancti-89810
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