MANAMA: Aluminium Bahrain B.S.C. (Alba), in line with transforming into the largest smelter in the world with the full ramp-up of Line 6 on 31 July 2019, reported its 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-Year while production jumped to 305,727 mt, up by 21% YoY versus 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 mt to top 569,042 mt year-to-date (up by 14% Y0Y).
“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,” Tim Murray, Alba’s Chief Executive Officer, while commenting on Alba sales’ volume and production for Q2 2019 said.
“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.”
Aluminium Bahrain B.S.C. (Alba) will release its Second Quarter 2019 Financial Results to the public on 28 July 2019 as well as upload the IR presentation on its Investor Relations section at www.albasmelter.com
