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Aluminum May 21, 2020 12:30:47 PM

Glencore and Aldel Signs New Aluminum Supply Contract

Paul Ploumis
ScrapMonster Author
The agreement will ensure guaranteed market for output from the Aldel plant, especially during these times of uncertainties.
Glencore and Aldel Signs New Aluminum Supply Contract

SEATTLE (Scrap Monster): Netherlands-based Aldel-Damco Aluminum Delfzijl Cooperative UA announced that it has reached a supply contract agreement with British multinational commodity trading and mining company Glencore. In accordance with the agreement, Glencore will purchase up to 180,000 tons of aluminium from Aldel during this year and next year. The offtake agreement with Glencore was concluded on April 25th, said company press release.

The agreement will ensure guaranteed market for output from the Aldel plant, especially during these times of uncertainties. The Aldel plant currently produces around 80,000 tons of high quality aluminium, mainly for transport and construction sectors. The Delfzijl-headquartered company had recently announced significant investments in modernizing and expanding the plant, so as to significantly boost its production capacity.

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Chris McNamee, CEO, Aldel noted that the agreement is a tremendous boost, not only for the company but also for the wider economy. The agreement will make its medium-term future even safer and provide confidence to continue its 10-year plan to transform it as one of the topmost green aluminium producers in Europe.