Hindalco Industries reported its highest-ever quarterly net profit of INR 75.33 billion (USD 802 million) in the second quarter of FY2027, up 59 per cent from INR 47.41 billion (USD 505 million) a year earlier, supported by stronger earnings across its aluminium, copper and Novelis businesses. Consolidated revenue from operations rose 39 per cent year on year to INR 917 billion (USD 9.8 billion) in the quarter ended September 30, 2026. EBITDA increased 42 per cent to INR 137.6 billion (USD 1.5 billion), compared with INR 97 billion (USD 1 billion) in Q2 FY2026. The company’s aluminium upstream business rose 55 per cent to INR 70 billion (USD 745 million) in quarterly EBITDA. Earnings from non-LME-linked businesses rose 50 per cent to INR 68.6 billion (USD 731 million). Copper also...
The London Metal Exchange (LME) aluminium prices declined across cash, three-month and December 27 contracts on November 6 compared with the previous trading day, November 5. On November 6, the LME aluminium cash bid price stood at USD 3,115 per tonne, down 1.42 per cent from USD 3,160 per tonne on November 5. The cash offer price declined by 1.30 per cent to USD 3,117 per tonne from USD 3,158 per tonne. Similarly, the LME aluminium three-month bid price decreased by 1.55 per cent to USD 3,049 per tonne on November 6 from USD 3,097 per tonne on November 5. The three-month offer price fell by 1.53 per cent to USD 3,050 per tonne from USD 3,097.5 per tonne. The December 27 bid price dropped by 1.57 per cent to USD 2,950 per tonne on November 6 from USD 2,997 per tonne on November 5....
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Aughinish Alumina refinery, one of the most technologically advanced and energy-efficient facilities worldwide have secured EU funding to help reduce its carbon footprint. However, the European Union funding amount to diminish carbon emission remains undisclosed as of now. The Limerick-based alumina refinery will replace the existing gas-fired boilers with a 25-megawatt high-pressure electric boiler, which is used to produce alumina, the main ingredient in aluminium The facility infrastructure includes a deep-water terminal on the Shannon estuary that facilitates efficient deliveries to European smelters. The plant is owned by Russian metals giant Rusal since 2017 and it is one of Europe’s largest alumina refineries and accounts for the bulk of Rusal’s alumina production.
On 27th July 2021, Emirates Global Aluminium observed the 40th anniversary of its Suggestion Scheme, which motivates employees to share their ideas for operational and technological improvements. As of yesterday, EGA employees have made over half a million suggestions for improvements, delivering cost-savings of some AED 416 million. The Suggestion Scheme of EGA is integral to the organisation’s culture of innovation and continuous improvement that has for decades been a foundation of its growth and success. In the summer of 1981, it was founded by then-Head of Industrial Engineering, Glyn Ashley, and a team of industrial engineers. However, the Suggestion Scheme today remains of the longest-running employee-engagement programmes of its kind in the world. The Suggestion Scheme accumulated...
On Tuesday, July 27, Rusal announced in its second quarter operating results that its bauxite production stood at 3.836 million tonnes, recording an increase of 0.9 per cent from 3.801 million tonnes in Q1 2021. In H1 2021, Rusal’s bauxite production totalled 7.637 million tonnes, up 2.3 per cent year-on-year from 7.469 million tonnes. Rusal’s bauxite mines in Guinea contributed 1.817 million tonnes to the total production in Q2 2021, while the mines in Russia produced 1.511 million tonnes. In H1, Russian mines’ production amounted to 2.728 million tonnes, down by 0.48 per cent from 2.741 million tonnes a year ago. Mines in Guinea churned out 3.842 million tonnes of bauxite in H1 2021 compared to 3.684 million tonnes last year. Windalco in Jamaica produced 507,000 tonnes of bauxite in Q2...
According to the data found by the US Census Bureau, the United States aluminium scrap imports from Canada stood at 34,200 tonnes in April 2021. That stood flat compared to 34,800 tonnes in March but up by 16.72 per cent from 29,300 tonnes in February. The imports in March recorded an increase of 18.77 per cent month-on-month than 29,300 tonnes. On a year-on-calculation, the United States aluminium scrap imports from Canada in April 2021 registered a surge of 101 per cent from 17,000 tonnes. In the first four months of the year, the United States imports from Canada totalled 133,000 tonnes, reflecting an increase of 25.47 per cent from 106,000 tonnes during the same period last year. The United States total aluminium imports (including aluminium crude metals and alloys and aluminium...
Spain's advancement with the vaccination process and uplifting restrictions progressively will speed up the economic activity strongly. According to Organisation for Economic Co-operation and Development (OECD) report, the Spanish GDP is projected to rise by 5.9% in 2021 and 6.3% in 2022, supported by pent-up demand, the national recovery plan and a gradual pick-up of tourism, while the reduced uncertainty will lead to a sharp decline in precautionary saving and support private consumption. Investment is expected to pick up significantly from the second half of 2021 as expectations improve and the Next Generation EU funds provide additional support. The nation on Europe’s Iberian Peninsula, Spain imported 8062 tonnes of aluminium stranded wire during 2018-20 and the expenditure occurred...
Three-month LME aluminium closed 0.78 per cent lower at US$ 2,485 per tonne on Tuesday, with open interest increasing 3,728 lots to 669,000 lots, and is expected to trade between US$ 2,470-2,530 per tonne today. LME aluminium cash (bid) price and LME official settlement price inched down by US$ 2 per tonne to stand at US$ 2,497.50 per tonne on Tuesday, July 27, following five consecutive days of hike. However, 3-months bid price and 3-months offer price increased sharply by US$ 83.50 per tonne to come in at US$ 2,492 per tonne. On the other hand, Dec 22 bid price and Dec 22 offer price plunged from US$ 2,489 per tonne to US$ 2,466.50 per tonne. LME aluminium opening stock further decreased to 1408000 tonnes. Live Warrants totalled 831825 tonnes, while Cancelled Warrants closed at 576175...
On 27th July 2021, the global leader in aluminium rolling and recycling, Novelis is investing more than $7 million to recruit 37 new employees and resumes the several pieces of idled equipment at its manufacturing facility in Terre Haute, Indiana. The plant with this expansion will produce aluminium for household foil applications later this year after recently securing several multi-year agreements with key customers. The applications include products such as aluminium foil sheets and rolls used in commercial and residential kitchens. Ryan Smith, Plant Manager, said: "Novelis has been a strong community partner here in the Wabash Valley for more than 60 years and this investment solidifies not only our leadership position in the aluminium foil market but also our commitment to bringing...
The average alumina spot price in China has recorded an increase of RMB 23 per tonne on Wednesday, July 28, after remaining restrained for the past three days at RMB 2,520 per tonne. According to the Shanghai Metals Market data, the hike today has brought the average alumina spot price to RMB 2,543 per tonne. In Henan, alumina price has seen an increase of RMB 35 per tonne to stand at RMB 2,565 per tonne as of July 28, while the price in Shandong and Shanxi has grown by RMB 20 per tonne to RMB 2,530 per tonne and RMB 2,565 per tonne, respectively. Australian alumina FOB price has, however, remained restrained US$ 300 per tonne. Among the other primary aluminium input costs, aluminium powder price has inched down by RMB 0.10 per kg to peg at RMB 22.95 per kg on July 28. The average prices...
The metal baron Sanjeev Gupta owned GFG Alliance’s Chief Investment Officer and also one of the most loyal lieutenants is quitting the group following falling out with his boss over the sale of its aluminium assets. A scion of a Danish merchant banking family, Jay Hambro, whose connections supported untroubled growth and rapid acquisition of Gupta’s splurge over the past five years, is on “gardening leave” and no longer taking an active role at the group, as confirmed by an industry professional very much familiar with the matter. The informing person forewarned that Hambro had not yet backed out himself from GFG, but it is implausible that he would remain there in the long term. Hambro, the former banker is recognized to have fallen out with Sanjeev Gupta over the sale of, GFG’s French...
Vedanta has planned to expand Bharat Aluminium Company’s smelter capacity by 414 kilo-tonnes per annum (KTPA). The expansion involves an investment of INR 6,611 crore over the next two years. ''Vedanta...has announced a major expansion at Bharat Aluminium Company's (Balco) smelter capacity, which will involve an investment of Rs 6,611 crore over the next 18-24 months,'' the company said in a statement. Bharat Aluminium Company (Balco) is a part of Vedanta Group company. Balco will now have total capacity to close to one million tonne. With this investment, the company’s value-added product portfolio will increase to 92 per cent. "Balco''s expansion is a important project for us. We hope to ramp up the smelter capacity over the next 18-24 months. After this expansion, Vedanta''s aluminium...
Major aluminium processors in China faced a downfall in operating rates last week by 4.3 percentage points to 66.5 per cent. In Henan, operating rates slumped 24.6 percentage points to 41 per cent, the sharpest decline among all regions, as local enterprises were forced to reduce or suspend production due to the worst flood ever. In Guangdong and Shandong, operating rates dropped slightly. Operating rates at large primary aluminium alloy enterprises remained stable, underpinned by rigid demand. But shortages of automotive chips, poor automobile consumption, and summer break at car makers have continued to constrain orders at primary aluminium alloy producers. Operating rates at large aluminium plate/sheet and strip companies decreased to 57.2 per cent as many of the companies in our...
Rusal, the world's leading aluminium producer, has announced the operating results for the second quarter of 2021, mentioning that its aluminium production totalled 936,000 tonnes. That was up by 0.4 per cent quarter-on-quarter from 932,000 tonnes. Siberian smelters represented 93 per cent of Rusal’s total aluminium output in 2Q2021. In the first half of 2021, Rusal’s aluminium production stood at 1.868 million tonnes, up 0.1 per cent from 1.867 million tonnes a year ago. Bratsk aluminium smelter and Krasnoyarsk aluminium smelter produced 251,000 tonnes and 253,000 tonnes of aluminium, respectively, during 2Q2021. Aluminium sales in 2Q2021 amounted to 1.038 million tonnes- 7.9 per cent higher than 962,000 tonnes in 1Q2021. In the first half of the year, aluminium sales totalled 2 million...
The Greek industrial conglomerate Mytilineos SA owned Aluminium of Greece has committed to switching to green for all of its power requirements from renewable energy by 2030. In a bourse filing, the aluminium metal producer has inked a power supply agreement with Greek utility Public Power Corporation SA, or PPC said and pointed out that this will be the final such contract between the two companies. However, the deal will run from the beginning of July 2021 through the end of 2023. Evangelos G Mytilineos, Chairman and CEO of Mytilineos, said: “For us, after 2023, a new era begins for the historic factory of ‘Aluminum of Greece’, a green and sustainable era, spearheading with national climate goals and the European Green Deal. Mytilineos eyes to reduce outright carbon dioxide emissions of...
In Africa & Asia (ex-China), alumina production during June 2021 stood at 1.063 million tonnes, reflecting a month-on-month downfall of 6.26 per cent from 1.134 million tonnes. However, on a year-on-year basis, the output stood higher by 4.83 per cent from 1.014 million tonnes. Africa & Asia’s total alumina production during the second quarter of 2021 came in at 2.246 million tonnes, down by 28.59 per cent from 3.145 million tonnes in Q1 2021. On a year-on-year calculation, the output was down as well by 25.21 per cent from 3.003 million tonnes. In the first half of the year, alumina production in Africa & Asia (ex-China) totalled 6.454 million tonnes, up by 5.96 per cent from 6.091 million tonnes a year ago. World alumina production in June 2021 recorded a decline of 3.55 per cent from...
As per Reuters latest survey, Egypt's economy will grow 5.0% in the fiscal year that ends in June next year, which remains unchanged from analysts' expectations in a similar poll three months ago and slightly below the government's target of 5.4%. The northeast African nation, Egypt imported 8244 tonnes of aluminium household articles during 2018-19 and the expenditure occurred for the import was $50.16 million. The import for 2020 remained at 10,692 tonnes and the expenditure counted for the import was $37.07 million. However, when the import volume and expenditure of 2020 gets assorted with the existing two years, it signifies 18,936 tonnes and $87.23 million respectively. Egypt’s export of aluminium household articles during 2018-19 recorded 5049 tonnes and the revenue generated from...
Hydro Extrusions has decided to spend EUR 45 million in the Nenzing aluminium extrusion plant in Europe. The company will increase production capacity by 30% to meet the growing demand of aluminium extrusions in the region. The aluminium plant will add a fourth extrusion line and expand mechanical processing capabilities. The new line will be operational during spring 2023. "Adding a fourth extrusion line to the plant will make us one of the most modern extrusion facilities in Europe and increase our capacity by 30%," sayid Managing Director Manfred Rotschne in Nenzing. "The high level of innovation in Nenzing and our demonstrated low carbon footprint, will allow us to serve new and existing customers with a broader portfolio of sustainable and innovative solutions.”. A new and fully...
The Aluminium Stewardship Initiative has successfully welcomed GUANGZHOU KINGKEE METAL MANUFACTURE CO., LTD as a Production & Transformation member, bringing the total number of members to 180. GUANGZHOU KINGKEE METAL MANUFACTURE CO., LTD is deeply engaged in the aluminium industry for more than 20 years. It is committed to the integration of solutions for new metal materials such as high-end aluminium strips. Focusing on the challenges and high demands of customers, GUANGZHOU KINGKEE METAL provides competitive solutions and services for metal products such as high-end aluminium strips, and continues to create maximum value for customers. Alex Chu, Director of GUANGZHOU KINGKEE METAL MANUFACTURE CO., LTD, said: “Aluminum suppliers around the world are using the ASI Standard to make good...
Rio Tinto has cut production at its BC Works aluminium smelter in Kitimat, Canada due to a strike initiated by the Unifor Local 2301 union after negotiations failed. The output will be slashed to 35 per cent of the smelter’s 432,000 tonnes annual capacity. Rio Tinto Aluminium managing director Atlantic Operations Samir Cairae said: “Reducing production will have a significant impact on the business and community, but we are committed to taking the necessary steps to operate safely with a reduced workforce. “We have made every effort to reach a mutually beneficial agreement through negotiating in good faith over the past seven weeks, including proposing an independent mediator which was rejected by Unifor Local 2301. “We will continue to look for longer term solutions with the union and...
