Hongqiao Holdings to Raise $1.2B for Renewable Projects and Debt Repayment

[SMM Aluminum Flash] On September 23, LME aluminum inventory stood at 241,400 mt, down 750 mt from the previous day, a decrease of 0.31%. Over the past week, LME aluminum inventory decreased by 2,225.00 mt, a decline of 0.91%. Over the past month, LME aluminum inventory decreased by 5,550.00 mt, a decline of 2.25%.

[SMM Aluminum Express News] Azerbaijan is exploring a separate new primary aluminum smelter with capacity of around 200,000 tonnes/year, Economy Minister Mikayil Jabbarov said at a September 22 meeting chaired by President Ilham Aliyev. The project has attracted interest from foreign investors and forms part of Azerbaijan’s longer-term ambition to develop into a regional processing hub, supported by competitive energy prices, transport links and access to raw materials from Central Asia and the South Caucasus. The proposed 200,000 t/y smelter is separate from Azeraluminium’s existing expansion in Ganja, where electrolysis capacity is planned to increase from around 50,000 t/y to 100,000 t/y by 2030. Azerbaijan will also assess whether the Zaylik alunite deposit can provide a domestic raw-material base for the aluminum value chain. The 2027-2030 mining and metallurgy programme requires an estimated AZN 5.3 billion (US$3.12 billion) of investment, around 80% of which is expected from non-budget sources.

[SMM Aluminum Express News] Azerbaijan plans to double Azeraluminium’s primary aluminium capacity at its Ganja electrolysis plant from around 50,000 tonnes/year to 100,000 tonnes/year by 2030. The expansion is included in the country’s newly approved 2027–2030 State Program for the Development of Mining and Metallurgical Industries, which also targets 50,000 tonnes/year of rolled aluminium capacity. President Ilham Aliyev said the aluminium expansion should be completed by the end of 2030