The resilience of the Middle East market thanks to the recovery in the auto and packaging sectors as well as Aluminium Bahrain’s (Alba) commitment to transition to a low carbon economy have been highlighted by Alba CEO Ali Al Baqali.

 

Alba’s ESG Roadmap was developed to address EU’s emerging Carbon Border Adjustment Mechanism (CBAM), Bahrain’s commitment towards Net Zero Emissions by 2060 and customers’ demand for lower carbon or greener aluminium products, said Al Baqali as a key panelist on the Opening Executive Panel: ‘State of the Aluminium Industry’ at the 37th Fastmarkets International Aluminium Conference 2023 that is being held from September 12 to 14 in Barcelona, Spain. 

 

Al Baqali underlined that Alba is working today on an action plan to identify areas for potential GHG reduction, set CO2 targets and monitor CO2 capture for our afforestation drives. He also highlighted Alba’s Power Station 5 Block 4 Project, which will reduce the company’s GHG emissions intensity ratio by 0.5x once it is commissioned in 2024.

 

Supply-demand outlook

The Opening Executive Panel, comprising top executives from the aluminium industry -- Hydro’s President and CEO Hilde Merete Aasheim and Hongqiao Group’s Special Advisor Ron Knapp -- explored several topics including the global supply-demand outlook and key business opportunities in the next 18 months as well as potential implications of geo-political shifts for the aluminium market.

 

Fastmarkets International Aluminium Conference is tailor-made for decision-makers operating throughout the entire aluminium value chain to stay up-to-date with the latest market insights, and expand their knowledge of the industry's sustainability efforts and pricing outlooks.-- TradeArabia News Service