Emirates Global Aluminum (EGA) has announced that it is the first company in the world to digitally connect its metal quality analysis system to the London Metal Exchange.
According to Amac News: EGA said that the digital connection will automate the process of sending certificates of analysis, which are key specifications and quality assurance documents.
The London Metal Exchange is the world center for trading industrial metals. Trading on the London Metal Exchange determines the global benchmark price for aluminum.
LME approved warehouses support physical delivery and ensure price convergence.
All metals delivered to London Metal Exchange warehouses must conform to specifications for quality, shape and weight, as well as the requirements of the exchange's responsible source.
Digital Certificates of Analysis allow for greater traceability, accessibility and transparency in the process by eliminating paper documents, which can often be damaged or lost during the metal's journey around the world.
EGA has so far implemented more than 65 Industry 4.0 use cases, from the application of artificial intelligence vision to real-time production of quality carbon anodes to the development of forecasting tools for market movements in key commodities.
To date, approximately 2,000 EGA employees have become proficient in digital capabilities and ways of working, and this transformation has had a financial impact of approximately $85 million.