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ECONOMICS as China has dozens of smelters of that similar size. Such talk has been initiated years ago. Henan is China’s largest province for aluminium production, with the major five companies being Zhongfu Industrial, Shenhuo Group, JiaoZuo WanFang Aluminum Manufacturing Co., Henan Wanji Aluminium Co. and Henan Yugang Longquan Aluminum Co. All of them have a production capacity of 0.7-0.8m tpy. Zhongfu is publicly traded on Shanghai Stock Exchange, while both Shenhuo and Jiaozuo are listed on Shenzhen Stock Exchange. In February it was announced that China’s government aims to “vigorously” eliminate obsolete aluminium capacity in 2013 through economic measures such as differential power rates. The decommissioning of technologically backward smelters is a key work area in 2013. Economic measures such as power rates differentiation will be studied and employed so as to raise production input costs to impel obsolete smelters to exit the market. In addition, the authorities aim to set new entry requirements for the aluminium industry, as already exist for secondary aluminium producers. China had 27.65m tonnes of aluminium capacity at the end of 2012, with utilisation rates at only 72%. Only 45% of the total capacities are operated with self-run power stations, while those relying on the state grid’s power are deeply in the red. Metal prices are expected to vary little in 2013, with periodic recovery opportunities depending on global monetary easing and on China’s investment policies. China’s drive to crack down on surplus non-ferrous metal production capacity will extend to small carbon cathode and anode plants as of May. The guidelines place anode block plants with an annual capacity of 80,000 tpy or less, and cathode block plants with a capacity of 20,000 tpy or less, in the government’s ‘restricted’ category, meaning new investment proposals for such small plants are likely to be rejected. Those operating existing facilities that fall under the guidelines may face increasing regulatory and cost pressures. Such small capacities proliferated on the back of the government’s post-financial-crisis stimulus package, spurred by local government incentives aimed at creating employment. But widespread overcapacity and consequent cost pressures throughout the aluminium industry are now driving state policies aimed at reversing the trend. In any case, small capacity units have already begun to cut production amid low metal prices, particularly in high-cost areas such as Henan province. Cathode and anode exporters are unlikely to be affected by the rule change, since most plants in China’s primary export regions are more sizeable. Extrusion billets from Dubal Early in April it was reported that China consumed 0.5% less energy year-on-year in 2012 per tonne of primary aluminium produced. Electricity consumed per tonne of primary aluminium dropped on average to 13,8 kWh in 2012, down 69 kWh from a year ago, and equal to a reduction in carbon dioxide emission of 63 kg/t of aluminium produced. China thereby saved 1.4bn kWh in 2012. DUBAI: In March Dubai Aluminium (Dubal) announced it has expanded its interest in the upstream (raw materials) sector by purchasing a 20% stake in a calciner development project as part of a joint venture with Sinoway Carbon Energy Holdings, Hong Kong, for an undisclosed sum. The new venture, known as Sinoway Carbon Co. Ltd, entails the construction of a 560,000 tpy petroleum coke calciner in Shandong, China. Calcined petroleum coke (CPC), is a strategic raw material for the aluminium smelting industry, where it is used in the manufacture of carbon anodes for the electrolytic process. Dubal will be entitled to an annual off-take volume of CPC for its smelting operations. The Sinoway calciner is being built in two equal phases. Construction of the first phase was completed in May. The second phase is scheduled for completion in Q4 2013. The plant will employ Chinese shaft technology – a well-proven, simple-to-install, easy-to-operate system that gives better yield than other technologies at substantially lower capital and operating expense. China has a surplus supply of green petroleum coke (GPC). Indeed, China currently produces more than 40% of annual global GPC/CPC production, with several GPC refineries being in close proximity to the Sinoway development site. Dubal’s investment in Sinoway represents a strategic opportunity to mitigate the company’s supply and quality concerns, thus contributing to business continuity. CPC is one of the main drivers for cost of production, and is hence an important factor in the business equation. With a secure supply of suitable quality CPC from Sinoway calciner, Dubal will be well placed to counter this trend, with direct benefits to the bottom-line. At the beginning of June, in a move that will form a new industrial giant in the UAE, Mubadala Development Co. of Abu Dhabi and the Investment Corp. of Dubai (ICD) announced the creation of Emirates Global Aluminium. This jointly-held, equal-ownership company will integrate the businesses of Dubal and Emal and has plans for significant local growth and international expansion. The accord builds on a successful partnership that started with the formation of Emal in 2006, a joint venture of Mubadala and Dubal. Emirates Global Aluminium will have an aggregate enterprise value of more than US- © Dubal 24 ALUMINIUM · 9/2013
E CONOMICS D15bn, and it will be the fifth-largest global aluminium company by production, once Emal’ Phase II expansion project is complete in the first half of 2014. Building on the heritage of Emal and Dubal, the new company will look to expand along the value chain, from aluminium smelting to alumina refining and bauxite mining overseas. Given its scale and growth, Emirates Global Aluminium will also continue to attract downstream manufacturing as well as ancillary businesses related to aluminium smelting and alumina refining, thereby indirectly creating additional jobs. The new company will accelerate employment with 2,000 direct jobs being created by 2020, adding to more than 6,200 direct jobs (Dubal 3,800; Emal 2,500) already in existence. A further 6,000 indirect jobs will be generated, delivering total employment of over 33,000 people by the UAE aluminium sector through the end of this decade. Emirates Global Aluminium will serve over 440 customers in 55 countries, with a joint production capacity of 2.4m tpy of aluminium on the completion of Emal Phase II. Pending required approvals, the formal commencement of joint operations is expected to be completed within the first half of 2014. The combination agreement signed by Mubadala and ICD unifies the Jebel Ali and Taweelah smelter assets, as well as interests in Guinea Alumina Corp. and Cameroon Alumina Ltd. Energy costs for major aluminium producers range from USD255-368/t in the Middle East, while in India electricity prices range from USD514-904/t. INDONESIA: The Indonesian government will completely take over Indonesia Asahan Aluminium, known as Inalum, in November, although negotiations are still ongoing. That is what the Indonesian Industry Minister M.S. Hidayat told journalists in June. He added that the government had already earmarked Rp7 trillion (USD707m) for the take-over. Originally the government had plans to sell its stakes to other investors, but then changed mind because it wants to turn Inalum into a new state-owned enterprise. Inalum is currently 58.88% controlled by Japanese consortium Nippon Asahan Aluminium and 41.12% controlled by the Indonesian government. TURKEY: In April the European Bank for Reconstruction & Development (EBRD) announced it has drafted plans to promote the use of pre-baked anode technology in the Turkish aluminium smelter through a USD50m loan to Eti Aluminyum. The money would help to modernise the company’s aluminium smelter located in Konya, in southern Anatolia, by converting the existing Søderberg electrolysis technology to proven pre-baked anode technology. The privately-owned company produces alumina, hydrate, liquid aluminium and other alumina products from its bauxite mining operations, located south of Konya. Eti Aluminyum had promised to develop advanced corporate social responsibility practices, reporting publicly on such policies from 2015. It had also agreed to develop and implement integrated energy and carbon management systems under ISO 50001 standards. The new unit would meet European Union standards and best available technologies. The company’s entire modernisation plan should cost USD232m, and involve the phasing out or upgrading of the old Soviet-designed open cell electrolysis pots. Eti Aluminyum awaits final decision on the loan from the EBRD board of directors. ■ © iStock CNC - Spezialmaschinen Aluminium ist beständig – wie eine MAKA 5-Achs-Bearbeitung von www.maka.com ¬ Aluminiumprofilen ¬ Aluminiumgussteilen ¬ Aluminiumblechen ¬ Aluminium-Verbundstoffen Anwendungsbereiche In der Automobil- und Aircraftindustrie, dem Fenster- und Fassadenbau und mehr ... MAKA 5-Achs-Bearbeitungszentren sind innovative High-End Lösungen. Prozessoptimierung, Präzision, Qualität und Zuverlässigkeit stehen für Produktivität und Flexibilität. ALUMINIUM · 9/2013
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sPeCIAL ArABAL - ALUMINIUM-Nachrichten – ALU-WEB.DE

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