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Aluminium Bahrain Cuts Production; Indian Aluminium Giant Declares Force Majeure
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Amidst ongoing conflicts in the Middle East, Aluminium Bahrain (Alba), which operates the world's largest single aluminium smelter, has announced a phased production shutdown to conserve raw material inventory and maintain operations in other parts of the plant, according to comprehensive reports. It is reported that Alba has initiated the shutdown of three production lines, which together account for 19% of its annual total output of 1.6 million tonnes, approx. 2.2% of global aluminium output. The production cut by Alba is the latest event in the the global aluminum industry's turmoil. Due to the natural gas shortage led by disruption of natural gas supply in the Middle East, Hindalco Industries has currently ceased production of aluminum extrusion, a high-value-added aluminium product, according to insiders. The announcement indicates that this metal producer under the Aditya Birla Group declared force majeure to all its aluminum extrusion customers on 11 March. Aluminum extrusion is widely used in construction, EVs, electronics and solar panels. AASTOCKS Financial News Website: www.aastocks.com |
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