Aluminium Bahrain (Alba) and Daiki Aluminium Industry Company Ltd. have announced a strategic partnership to establish a state-of-the-art, sustainable aluminum waste processing facility in Bahrain. This joint venture, named Alba-Daiki Sustainable Solutions (ADSS), will bolster Bahrain’s economic diversification efforts while promoting environmental sustainability.
Goldman Sachs forecasts a surge in aluminum prices due to an anticipated inventory shortage, fueled by the global shift towards renewable energy and electric vehicles. The investment bank predicts prices could reach $4,500 per metric ton in 2024 and $5,000 in 2025. Concerns over a potential shortage are echoed by Australia, a major aluminum exporter, who has warned about rising costs and regulatory delays hindering production. This could create price volatility and impact the global aluminum market.
Alcoa, a leading aluminum company, is set to announce its quarterly earnings on October 16th. Investors will be looking for signs of earnings growth, guidance for the future, and how the company compares to its peers. We break down the key factors to watch and provide an in-depth analysis of Alcoa’s financial health.
USCF, a leader in exchange-traded product (ETP) innovation, has announced the upcoming liquidation and dissolution of its USCF Aluminum Strategy Fund (ALUM). The decision, made by the USCF ETF Trust Board of Trustees, will see the fund cease operations and distribute proceeds to shareholders on or about October 18, 2024.
The Global Beverage Can Circularity Alliance is launching its global advocacy plan at Climate Week NYC, aiming to significantly increase aluminum can recycling rates worldwide. The plan includes targeted investments, policy changes, and the promotion of Deposit Return Systems (DRS) to achieve near 100% recycling by 2050.
Novelis Inc., a leading sustainable aluminum solutions provider, has launched a new sustainability initiative called ‘Novelis 3×30’. This initiative outlines ambitious goals to increase recycled content in its products, reduce carbon emissions, and promote a circular economy for aluminum. The company aims to reach these goals by 2030, driven by growing consumer demand for sustainable products and the need to address climate change.
Novelis, a leading aluminum solutions provider, has successfully completed its Green Bond financial commitments, signifying its dedication to sustainable practices. This achievement reflects investments in green projects aimed at reducing carbon emissions, energy and water usage, and landfill waste. Novelis highlights key projects like a solar installation in Italy, a recycling furnace expansion in Germany, and a new recycling plant in Alabama, demonstrating its commitment to a circular economy for aluminum.
