AL Circle's weekly wrap
US aluminium crude metals and alloys imports upswing in Q1 2024; Canada tops supplier list despite lower export volume
In Q1 2024, the United States imported 911,000 tonnes of aluminium crude metals and alloys, up by 5.81 per cent Q-o-Q from 861,000 tonnes and 1.12 per cent Y-o-Y from 901,000 tonnes.
The United States Q1 imports recorded an uptrend, both on a sequential and annual basis, despite a drop in March 2024. In the said month, the United States imports of aluminium crude metals and alloys amounted to 270,000 tonnes, down by 19.48 per cent from 344,000 tonnes in February 2024 and 12.34 per cent less than 316,000 tonnes in March 2023.
In Q1, the highest supplier of aluminium crude metals and alloys to the United States was Canada, providing 721,000 tonnes. That reflected a year-on-year hike of 18.98 per cent from 606,000 tonnes. On a quarter-on-quarter calculation, the United States imports from Canada edged a rise of 6.34 per cent from 678,000 tonnes.
In March 2024, the United States aluminium crude metals and alloys imports from Canada stood at 219,000 tonnes, which reflected M-o-M decline of 18.59 per cent from 269,000 tonnes and Y-o-Y growth of 1.39 per cent from 216,000 tonnes. Read the full news here.
AL Circle launches its 24th e-Magazine, "Aluminium Extrusions: Shaping the Future"
We are thrilled to announce the launch of AL Circle's newest e-Magazine edition, "Aluminium Extrusions: Shaping the Future." This publication dives deep into the innovative world of aluminium extrusions, exploring how this versatile material is revolutionising industries and shaping the future of manufacturing.
Aluminium extrusions have long been at the forefront of innovation, offering a wide array of benefits ranging from lightweight durability to exceptional flexibility in design. In this publication, we uncover the latest advancements and trends in aluminium extrusion technology, showcasing how it is being utilised across various sectors.
What sets this edition apart is its comprehensive coverage of the cutting-edge techniques and applications driving the industry forward. From the latest advancements in extrusion processes to the development of sustainable aluminium alloys, readers will gain valuable insights into the evolving landscape of aluminium extrusions.
Furthermore, "Aluminium Extrusions: Shaping the Future" highlights the crucial role of sustainability in the aluminium industry. With growing concerns about environmental impact, manufacturers are increasingly turning to sustainable practices, and aluminium extrusions are no exception. This e-Magazine explores how companies embrace eco-friendly solutions, such as recycling and energy-efficient production methods, to reduce their carbon footprint and contribute to a greener future.
In addition to industry insights, readers can expect exclusive interviews with leading experts and innovators in the field. These thought-provoking conversations offer valuable perspectives on the challenges and opportunities facing the aluminium extrusion industry, providing readers with invaluable knowledge and inspiration. Read the full e-Magazine here.
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Ghana's mining industry eyes significant growth, bauxite production to soar
Ghana is a significant contender in the global bauxite production arena, boasting an impressive reserve estimated at 900 million tonnes. Yet, this wealth of natural resources still needs to be tapped mainly, missing out on significant economic opportunities. With strategic planning and investment, Ghana has the potential to transform its bauxite industry, catalysing industrial growth, creating jobs, and boosting the national economy.
According to the Ghana Chamber of Mines, Ghana has maintained its status as Africa's leading gold producer and the 11th largest producer worldwide, producing four million ounces in 2023. Gold production is anticipated to range between 4.3 million and 4.5 million ounces, driven by increased output from both large and small-scale producers. Large-scale gold mining firms are expected to contribute 3.4 million ounces. New projects, including Newmont's Ahafo North and Cardinal Resource's Namdini Gold Mine, will play a significant role in this growth.
Michael Akafia, the President of the Ghana Chamber of Mines, made a significant announcement during the Chamber's AGM in Accra, providing a crucial update on the mining sector's future. This update is designed to keep stakeholders informed and involved in the developments of Ghana's mineral industry.
Akafia highlighted the mining sector's promising outlook for Ghana's mineral industry in 2024.
According to the Chamber of Mines, manganese production is forecasted to reach 5 million tonnes, while bauxite production is expected to be between 1.2 million and 1.5 million tonnes. Diamond exports are projected to increase, with estimates ranging from 220,000 to 250,000 carats.
The significant growth in gold production, coupled with increases in manganese, bauxite, and diamond production, is poised to impact Ghana's economy substantially. In 2023, the mining sector notably bolstered Ghana's foreign exchange reserves, with mineral export receipts rising from US$6.8 billion in 2022 to US$7.8 billion in 2023. Gold alone accounted for US$7.6 billion of this total, painting a promising picture for the future of Ghana's economy. Read the full news here.
Other major news of the week:
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