Key highlights from the global aluminium industry, November 2024

In November 2024, the global aluminium industry continues demonstrating resilience and innovation amidst evolving market dynamics. The month has been marked by significant milestones, from groundbreaking advancements in sustainable production and recycling technologies to strategic investments reshaping supply chains. Key developments across major aluminium-producing regions, shifting demand patterns, and policy changes have further underscored the industry's adaptability and forward-thinking approach. This article delves into the most impactful highlights from November 2024, offering a comprehensive overview of trends shaping the future of the aluminium sector.

Alumina prices continue to remain elevated, reflecting sustained market pressures. Industry stakeholders are closely monitoring the situation for potential impacts on production costs and supply dynamics.

Below are the highlights from the aluminium industry that made the month memorable:

Hindalco ranks as 'World’s Most Sustainable Aluminium Company' for the 5th consecutive year

Hindalco, the only Aluminium company to secure the top position in the S&P Global CSA, achieved a total score of 87 points (as of 30 October 2024), thereby improving its tally by 9 points from the last year, and is 22 points ahead of its closest peer. The DJSI World Index comprises the top 10 per cent of the largest 2,500 companies by market capitalisation in the S&P Global Broad Market Index based on long-term economic and ESG factors. Read more….

Bauxite shipment disruption at Juruti Port intensifies pressure on global alumina production

Alcoa declared force majeure on bauxite shipments from its Juruti mine in Brazil on November 7, 2024, due to a vessel stranded in the channel near the port obstructing transportation. This disruption poses significant challenges for global alumina supplies, which are already under pressure due to constrained production. According to industry experts, the Alumar alumina refinery is currently grappling with significant challenges due to shortages of bauxite supply from the Juruti mine in Brazil. The bauxite source is vital to Alumar’s operations, and the supply disruptions could severely affect its ability to sustain consistent production. Alumar alumina refinery receives bauxite from Juruti Mines and MRN. Read more….

World alumina production in October surpasses all historical records with highest-ever daily average output

According to the International Aluminium Institute survey, the world’s alumina production in October 2024 reached a new high in tandem with the growth across all the major producing regions. The daily average output also exceeded all the previous records, reflecting a month-on-month increase of 2.26 per cent. The monthly production stood at 12.61 million tonnes in October, up by 5.6 per cent from 11.94 million tonnes in September and 3.62 per cent more than 12.17 million tonnes in October 2023. This trend of monthly and year-on-year growth in alumina production is typical for this time of year. Historical data from the International Aluminium Institute (IAI) shows that global production of aluminium ore has consistently exceeded 12 million tonnes every October since 2022. Read more….

Donald Trump 2.0: What is in store for the global aluminium industry?

Donald Trump returning to the White House as the 47^th President of the United States after winning the 2024 election against Kamala Harris is already raising speculations about global trade policies and economic measures for the ensuing time. This especially comes after his protectionist regime as the 45th President of the United States from 2017 to 2021, which saw heavy import duties as part of the "America First" economic policy. The Trump presidency during 2017-2021 imposed waves of tariffs on products like solar panels, washing machines, and consumer goods. Even steel and aluminium were not spared from the heavy import duties. Countries like China, Mexico, Canada, and the European Union, the big players in the world aluminium market, faced tariffs during that period. Read more….

China to cancel aluminium export tax rebate from December 1, will this lead to trade negotiations with the US?

On Friday, November 15, China’s finance ministry declared its plan to reduce or cancel export tax concessions for a wide range of commodities, including aluminium. As per the report, the measure will be effective from December 1, 2024. For certain products like refined oil, photovoltaics, batteries, and non-metallic items, China has decided to reduce tax rebates from 13 to 9 per cent, while for aluminium and copper products, the country will cancel the concession. Following the news, aluminium prices soared in China as tax rebates would cover more than 5 million tonnes of metal exports worth RMB 17.7 billion. Analysts suspect that with this measure coming into effect, aluminium selling prices will increase further. Today, as of November 15, the metal price has already heightened by RMB 210 per tonne to RMB 20,850 per tonne. Read more….

China’s aluminium plate, sheet, strip and foil production to grow up to 8% in 2024 despite battery foil output waning

According to a preliminary survey by the Shanghai Metals Market, China’s output of aluminium plate, sheet, strip and foil products, such as can stock, battery foil, double-zero foil, auto body sheet, air-conditioner foil, brazing material, and electronic foil, is expected to demonstrate a robust growth at the end of 2024, withstanding anticipated slower growth rate of battery foil production. As per the SMM data, China’s aluminium plate, sheet and strip production is likely to amount to 13.1 million tonnes, marking an annual hike of about 6 per cent, while aluminium foil production is to reach 4.8 million tonnes, recording an 8 per cent rise year-on-year. Read more....

Tariffs on aluminium extrusions dismissed: US ITC's decision brings reimbursement for importers

In a rare move, the United States International Trade Commission (ITC) denied countervailing and anti-dumping duties on aluminium extrusion imports from 14 countries, including China, India, Mexico, and the United Arab Emirates. This ruling effectively halts cases aimed at imposing tariffs on aluminium extrusions, a material vital to numerous industries, including residential construction, HVAC, and furniture manufacturing. The decision ends countervailing and anti-dumping investigations and mandates that all duties previously collected by U.S. Customs and Border Protection will be refunded to importers. This outcome marks a significant win for American businesses, especially in the construction sector, as the absence of tariffs helps keep costs down for aluminium-dependent products such as windows, doors, and refrigeration systems. Read more....

Aluminium shortage hurts Jaguar Land Rover's profit margins, affects Tata Motors' earnings

As a result of an aluminium shortage, Jaguar Land Rover (JLR) recently reported a significant decline in profits. The luxury carmaker attributed the fall in deliveries to a flooding incident at one of its key aluminium suppliers in Switzerland, severely impacting the production of its high-end SUVs. The aluminium supply constraints have compounded the challenges faced by European automakers, who are already grappling with a slowdown in demand. JLR's rivals, including Porsche AG and Mercedes-Benz Group AG, have also been affected by the same supplier issues, further straining production lines across the industry. Read more....

Ball Corporation acquires Alucan to expand sustainable aluminium packaging in Europe

Ball Corporation, a global leader in sustainable aluminium packaging for beverages, personal care, and home products, is strengthening its portfolio in extruded aluminium packaging by acquiring Alucan, a prominent European producer of extruded aluminium aerosol and bottle technology, on October 31st. The acquisition will include adding new manufacturing facilities in Llinars del Vallés (Barcelona), Spain, and Lummen, Belgium. The acquisition supports Ball’s strategic commitment to making sustainability more accessible for its customers through scalable aluminium packaging solutions. The addition of these new plants will allow Ball to meet the increasing demand for sustainable packaging across Europe. Equipped with advanced technology, both facilities are designed to minimise environmental impact, reinforcing Ball’s dedication to sustainability and operational excellence. Read more....

Global push for recycled aluminium and copper capacity could signal shifts in non-ferrous scrap trade

Investments in recycled-content aluminium and copper production worldwide have sparked unease among traders and industry experts, with many questioning whether non-ferrous scrap exports will face a tightening landscape in the years ahead. This issue took centre stage at the Bureau of International Recycling (BIR) Non-Ferrous Division meeting held in Singapore (27) 28-29 October 2024, where industry leaders explored both the opportunities and challenges in the growing global race for recycled metals. At the BIR World Recycling Convention, speakers presented ambitious expansion plans for melt shop capacity, primarily focused on Asia and North America. This led to vigorous debate over the future availability of scrap for export. Read more....

On November 28, AL Circle, the leading global digital platform for the aluminium value chain, is thrilled to announce the launch of the 28^th edition of its highly anticipated e-Magazine, "Aluminium Industry: Focus Europe." This latest issue is dedicated to exploring the evolving landscape of the European aluminium industry, a sector that plays a pivotal role in driving sustainable industrial growth and technological innovation.

The e-Magazine is now available for download on AL Circle's website, offering a wealth of information designed to inspire strategic decisions and foster industry-wide collaboration.

Closing Notes:

As we wrap up November 2024, the global aluminium industry continues to showcase resilience and adaptability amid shifting market dynamics and evolving sustainability demands. This month highlighted significant strides in technological advancements, sustainability initiatives, and strategic collaborations, reaffirming aluminium's critical role across multiple sectors.

The industry's unwavering commitment to innovation and environmental stewardship is evident in the increasing adoption of low-carbon production methods and the integration of circular economy principles. As stakeholders across the value chain align with these global trends, the future of aluminium looks promising, with opportunities for further growth and transformation on the horizon.

Moving forward, the emphasis on reducing carbon footprints, enhancing recycling capabilities, and fostering strategic partnerships will be pivotal in shaping the industry's trajectory. With a strong foundation laid in 2024, the coming months are expected to bring even greater momentum, driving the aluminium industry toward a more sustainable and prosperous future.

Source: https://www.alcircle.com/news/key-highlights-from-the-global-aluminium-industry-november-2024-112702