The aluminium industry is slowly taking its step toward a greener and more sustainable environment. For example, to minimize greenhouse gas emissions, GE Power had signed a contract to upgrade Emirates Global Aluminium’s (EGA) Al Taweelah power plant gas turbines. This idea will assist the UAE to achieve its intended Net-Zero strategic objectives by 2050 by limiting the severity of greenhouse gas emissions. Not only this, EGA had also hosted a meeting with the global aluminium industry executives to explore how to decarbonize electrical generation and achieve net-zero emissions by 2050. Under the market forefront, on Monday, May 23, the benchmark aluminium price for SHFE increased by US$39 per tonne to US$3,129 per tonne, and then dropped by US$9 per tonne the next day to US$3,120 per tonne. The SHFE price fell by US$48 per tonne to US$3,072 per tonne on Wednesday, May 25, and then fell further to US$3,061 per tonne.
According to early estimates issued by the Aluminum Association as part of its Aluminium Situation report, aluminium demand in North America (the United States and Canada) climbed by 5.3 per cent in the first quarter of 2022 (1Q2022).
