Alba Wraps Sales, Production With Double-Digit Volume Increase in Q2 2019Source: www.export-egypt.com 7/7/2019, Location: Middle East |
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Aluminium Bahrain B.S.C. (Alba), on course to be transformed into the largest smelter in the world with the full ramp-up of Line 6 on 31 July 2019, stretchesits overall sales’ volume and throughput,in double-digits,for the second quarter of 2019 despite trade-tensions and the downward pressure on LME prices.
For the second quarter of 2019, sales’ volume went beyond 249,595 metric tonnes (mt) in Q2 2018 to top 311,928 mt, an increase of 25% Year-over-Yearwhile production jumped to 305,727 mt, up by 21% YoYversus 252,081 mt in Q2 2018. Alba closed this quarter with Value-Added (VA) Sales averaging 52% of total shipments versus 60% for the same period in 2018. For the first half of 2019, production reached 578,434 mt versus 511,480 mt in H1 2018, up by 13% YoY, while sales’ volume increased by 67,810 mtto top 569,042 mt year-to-date (up by 14% Y0Y). Commenting on Alba Sales’ volume and Production for Q2 2019, Alba’s Chief Executive Officer, Tim Murray said: “Driven by the solid progress on the Line 6 ramp-up, Alba closed the second quarter with double-digit volume increase in both Sales and Production. We are targeting Line 6 complete ramp-up by 31 July 2019 which will position Alba for a strong 2nd half-finish despite the tough aluminium market conditions.” |
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