When traditional power generation companies start talking retail solar power, it’s time to sit up and take note.
Despite a plunging LME price and dire short-term prospects for metal consumption in Europe and the U.S., aluminum mills are still following through on long-term plans to improve their environmental credentials.
They are doing this, particularly, to lower the carbon content of their products to meet buyers’ increasing focus on such environmental considerations.
Aluminum is suddenly the new buzzword in India.
In the last 2-3 months, there has been a lot of activity in the Indian aluminum sector, much of it propelled by India’s ongoing quest for clean and green tech.
For starters, news has just broken that the Indian Railways, one of the world’s largest rail networks, is looking to manufacture India’s first aluminum body train coaches.
The Railway Board has approved the manufacturing of 500 aluminum body coaches in India.
India’s automobile sector is at a crossroads.
The country has embarked on a clean energy drive following its commitment to the Paris agreement in 2015 and has now dedicated itself to reduce its emissions by 2030.
Reduction of vehicular emissions is part of this program. So, even though the sale of automobiles in the last year or so has been dismal, hopes are pinned on a push for electric vehicles (EVs).
This morning in metals news, Novelis Inc. reported its quarterly financial results, steel trade in China slows amid coronavirus fears and India’s carbon emissions are projected to soar over the next 30 years.
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of: aluminum production and prices; Trump’s tariffs on aluminum and steel derivatives; the coronavirus’ potential impact on iron ore; General Motors’ electrification drive; and the arrival of Brexit.
General Motors announced this week it would take another step towards electrification by investing $2.2 billion in its Detroit-Hamtramck assembly, which will be the automaker’s first plant devoted 100% to the production of electric vehicles (EVs).
The automaker said the plant would produce all-electric trucks and SUVs.
Heard of Europe’s Green Deal? No?
That may not be surprising, as it was only announced last month. While it sounds like the latest fruit and veg special offer at your local supermarket, it is likely to be one of the most profound policy changes to hit Europe since the formation of the Common Agricultural Policy or the creation of the Euro — or so says Nick Butler, chair of the Policy Institute at Kings College London, writing in the Financial Times this week.
The Green Deal was announced by new European Commission President Ursula von der Leyen, and in brief, is a commitment by the E.U.’s 27 member states to achieve zero net carbon emissions by 2050.
The Indian solar energy story marked a new milestone after India topped the Asia Pacific Region (APAC) for solar photovoltaic (PV) tenders in December 2019.
According to analytics company GlobalData, with 49% tenders announced and a 75.4% share, India was No. 1 among all other countries in the region, followed by the Philippines (with six tenders and a 9.2% share) and Pakistan (with five tenders and a 7.7% share), according to a Saur Energy International report.
Week in Review: Trump’s trade deals, steel capacity utilization and Hindalco’s diversification plans
Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including coverage of: India’s Hindalco, U.S. steel capacity utilization, Trump’s trade deals, the Department of Commerce’s circumvention rulings on steel routed through Vietnam, U.S. industrial production and more.
- Sohrab Darabshaw delved into Hindalco’s plans to diversify its operations amid challenging conditions for aluminum in India.
- Rio Tinto’s Pacific operations recently gained Aluminum Stewardship Initiative certifications.
- Stuart Burns on what 2020 might have in store in terms of economic growth.
- Don Hauser overviewed recent trade developments related to the USMCA and U.S.-China talks.
- The European Commission has a proposal aimed at protecting its trade rights amid a deadlock in the World Trade Organization’s Appellate Body.
- The U.S. steel sector’s capacity utilization rate hit 80.1% for the year through Dec. 14.
- The Department of Commerce issued affirmative determinations related to circumvention of steel products produced in Korea and Taiwan but shipped through Vietnam.
- U.S. industrial production bounced back in November.
- ArcelorMittal and Nippon Steel recently completed acquisition of the debt-ridden Indian steelmaker Essar Steel.