Century Aluminum’s proposed USD 4 billion primary aluminum smelter in Inola, Oklahoma, is “moving forward on all fronts” as the company prepares for construction, despite local opposition and legal challenges, CEO Jesse Gary said during the company’s third-quarter earnings call. Developed jointly by Century Aluminum and Emirates Global Aluminium (EGA), the project is designed to produce 750,000 tonnes of primary aluminum annually, potentially doubling U.S. primary aluminum production. The facility is expected to create thousands of direct and indirect jobs and add USD 1.5 billion to Oklahoma’s gross domestic product, according to company estimates. The partners had targeted construction to begin by the end of 2026. However, local restrictions and permitting challenges have affected the...
LME aluminium stocks declined by more than half during the first nine months of 2026, falling by 267,875 tonnes from 509,250 tonnes on January 2 to 241,375 tonnes on September 30 (52.6 per cent). The decline continued throughout the period, with average warehouse inventories falling each month. Compared with the same period in 2025, monthly average stocks were lower across all nine months, with the gap widening in the third quarter. Q1 LME aluminium stocks fall 18.2 per cent LME aluminium inventories continued to decline during Q1 2026. Month-end stocks fell from 495,725 tonnes in January to 465,550 tonnes in February, before dropping further to 416,775 tonnes in March. Monthly average inventories stood at 498,670 tonnes in January, 481,801 tonnes in February and 440,710 tonnes in March....
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Brazil produced 118,400 metric tons of primary aluminum in April, 6.2% less than in the same month last year, Brazilian aluminum association Abal reported. Output in the first four months of the year fell 6.1% from a year ago to 473, 100 tons, the association said in a statement Monday. The fall in output was attributed to the closure of Novelis' Aratu smelter in Bahia state and lower production at Alcoa Inc.'s (AA) Pocos de Caldas works in Minas Gerais state and Votorantim Group's CBA smelter, Abal said. Sour.
NALCO as saying that aluminum prices may recover soon from a low of USD 2,600 per tonne as the current declining trend in metal prices is not due to demand supply mismatch. Mr BL Bagra acting chairman of NALCO said that "The correction is an impact of stronger dollar. It has got nothing to do with the market dynamics of demand supply mismatch in the international market. In fact, prices of almost all metal zinc, copper and silver among others are now receding. However, I believe the price of aluminum might recover soon from the current low of USD 2,600 per tonne and would reach to the level of USD 2,700 per tonne recorded in late April.” Aluminum price on the London Metal Exchange are hovering around a little over USD 2,600 per tonne against USD 2,700 per tonne in April. The prices were...
All delegates to the recent 5th Electrode Conference were invited to VHE's works for an evening reception. VHE of Iceland was a major sponsor of the 5th International Conference on Electrodes and Support Services for Primary Aluminium Smelters held in Reykjavik, Iceland 10-12 May 2011. A number of VHE staff attended the Conference; VHE exhibited its products, and Barry Woodrow, Commercial Manager, presented a paper. VHE also sponsored the Conference programme, and hosted two coffee breaks. However, the highlight of VHE's sponsorship was a reception held at VHE's Hafnarfjörður works on the evening of Wednesday 11 May 2011. All delegates were welcomed to food and drinks, and were entertained with live music from the Reykjavík Big Band and vocalist Kristjana Stefánsdóttir. Velaverkstaedi...
Dubai, United Arab Emirates: The spirit of innovation and continuous improvement for which Dubai Aluminium Company Limited ("DUBAL") is renowned has again come to the fore -- this time by way of two category awards in the 2011 Ideas.Arabia Idea of the Year competition. The award ceremony was an integral element of the 6th Ideas.Arabia International Conference ("Ideas.Arabia 2011"), held under the patronage of H H Sheikh Ahmed bin Saeed Al Maktoum (President of the Dubai Department of Civil Aviation and Chairman of Emirates Group). Having been a major sponsor of the event since its inception in 2006, and the main sponsor for the first three years, DUBAL was the Platinum Sponsor Ideas.Arabia 2011 -- which took place at Westin Hotel & Resorts, Dubai, from 8 to 10 May.
Alcoa and the China Development Bank (CDB) announced today that they have signed a Memorandum of Understanding to collaborate on an array of aluminum and related projects both in China and abroad, focusing on Alcoa partnering with Chinese companies on global expansion projects and developing China's domestic aluminum industry. The agreement was signed in Beijing by Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld and CDB Governor Jiang Chaoliang. "This is an important step in expanding Alcoa's cooperation with Chinese partners and it creates a unique opportunity for the company's growth around the world," Kleinfeld said. "CDB is China's leading development bank, and our partnership will be mutually beneficial to Alcoa and Chinese partners. Alcoa's extensive experience and global...
Abu Dhabi Basic Industries Corporation (ADBIC), an industrial development and investment company wholly-owned by the Abu Dhabi Government's General Holding Corporation (GHC), and Gulf Extrusions, an Al Ghurair Group company, have signed a joint-venture (JV) agreement to set up Taweelah Aluminium Extrusion Company in Abu Dhabi. The Joint-Venture was signed by Eng. Jamal Salem Al Dhaheri, CEO of ADBIC and Mr. Majid Al Ghurair, CEO of Al Ghurair Group of Companies. Taweelah Aluminium Extrusion Company will invest USD200 million in setting up a state-of-the-art Aluminium Extrusion plant, which will be the first of its kind in the MENA region and also the first industrial project to be launched in Khalifa Industrial Zone Abu Dhabi (Kizad) after the Emirates Aluminium (EMAL) smelter. Kizad,...
Aluminium yesterday traded with the positive node and settled 0.09% up at 116.15. Some pressure had been seen from the LME stock also which came up by 32075mt, the total stock at LME is now at 4622825mt. LME stocks of aluminium rose by 32,075 tonnes to 4,622,825 tonnes within touching distance of the record high above 4.64 million tonnes hit in January 2010. In China, Unwrought Aluminium and product imports in China stood at 76724 tonnes in April as against 87729 tonnes in March down 12.5%. In yesterday's trading session aluminium has touched the low of 115.65 after opening at 115.7, and finally settled at 116.15. For today's session market is looking to take support at 115.8, a break below could see a test of 115.4 and where as resistance is now likely to be seen at 116.5, a move above...
Hindalco’s Q4FY11 standalone adjusted PAT (profit after tax) declined 3.7% YoY to R6.7 bn; above our estimate of R6 bn due to a lower tax rate and higher other income. Ebitda (earnings before interest, taxes, depreciation and amortisation) of R8.7 bn was broadly in line with our estimate of R9 bn. Reported PAT of R7.08 bn included forex gains of R410m, accounted in other expenditure. Aluminum production rebounded to 139k tonnes, implying that the smelter has recovered from damage due to power disruption during the monsoons. Extrusion production was hampered due to a lock-out at Alupuram, Kerala unit, since 22 February 2011. Ebitda from the aluminum segment was R6.6 bn, slightly lower than our estimate of R6.9 bn. The CoP (cost of production) of aluminum was sequentially flat at...
Kazakhstan produced 621,134 metric tons of primary aluminum in January-April, 3.1% more than in the corresponding period last year, the state statistics agency reported Monday.
China's central bank announced on Thursday that it will raise the reserve requirement ratio (RRR) of the country's lenders by 50 basis points, the fifth such increase in 2011. The raise will become effective on May 18th, and this move will lift the RRR for China's large financial institutions to a record high of 21%, a signal of China’s strong determination of combating inflation, but investors have already expected such move, so the RRR hike failed to exert great effect on European markets. Later, the US released a series of economic data, and both producer price index (PPI) for April and the initial claims for jobless benefits last week were better than market expectations, helping boost the US stocks, and the US dollar index fell back in response, with the index finally closing at...
Russia's Rusal aluminium giant on Thursday reported a 41 per cent rise in core quarterly profits and predicted a further rise in global prices that should help it overcome growing local tax burdens. The world's top aluminium producer reported a 40.6 per cent jump in its first quarterly EBITDA -- a pre-deductions earnings indicator closely watched by analysts and investors -- to $US682 million ($A639.0 million). The company reported net profits of $US746 million ($A698.96 million) on an aluminium output increase of 4.2 per cent.
A federal court will consider an appeal Friday filed by retirees at a Ravenswood aluminum plant who say the company is not providing health benefits it promised. Plaintiffs say Century Aluminum promised early retirees continued health benefits even after it shut down in February 2009. But those retirees are scheduled to lose their benefits June 30. The plant closed due to economic pressure, laying off 651 employees in the process. Workers between 55 and 65 who retired were told the company would continue to pay health care costs. Retirees older than 65 and eligible for Medicare lost supplemental benefits from the company in January 2010
Alcoa has beaten its carbon reduction goal a decade early, according to the company’s 2010 sustainability report. Last year the company cut its greenhouse gas emissions to 22 percent below 2005 levels, exceeding a 2020 goal of a 20 percent reduction. Alcoa lowered its 2010 carbon intensity to seven percent below 2009 levels. The report said the reductions are the result of energy efficiency improvements, repositioning of operations to take advantage of hydroelectric power, and other changes.
Chinese aluminium maker Shandong Nanshan Aluminium plans to build a $161 million aluminium plant in Lafayette, Indiana, the China Daily newspaper reported on Thursday. The plant will start up by June 2012, producing 40,000 tonnes of extrusions annually and employing 150 people within two years, Nanshan's board chairman Song Jianbo was quoted as saying. Its target markets will include high-speed trains. China is the world's biggest producer and user of aluminium. (Reporting by Tom Miles; Editing by David Chance)
International Architectural Group LLC, Monterey Park, Calif., has filed for Chapter 7 bankruptcy. The company, formerly International Aluminum Corp., is parent of United States Aluminum, International Extrusion, and Raco Interior Products, all based in Waxahachie, Texas, and International Window Corp., Hayward, Calif. "I started to hear from several [US Aluminum] employees last night, and have talked to several today, who verified the company is closing their doors and filing Chapter 7," said J.D. Williams, former executive vice president of US Aluminum, who lead the company for 21 years until his retirement in 2001. "It's just really and truly sad news."
Did you know that about 40% of a stock's net performance has nothing to do with the company's merits, but is directly attributable to the sector/industry it's in, and that group's net movement? Ergo, you find a good (budding) sector, and the battle's almost half-won. Well, aluminum is apt to be one of the market's next hottest sector, led by none other than Alcoa Inc. (NYSE:AA) and Noranda Aluminum Holding Corporation (NYSE:NOR). Yet, those high-profile names aren't necessarily the best stocks picks... at least not in terms of potential gains for newcomers. No, that honor belongs more to less-well-known Century Aluminum Company (NASDAQ:CENX) and Kaiser Aluminum Corp. (NASDAQ:KALU). Here's a closer look at why those two names are standouts, and for that matter, why the industry as a whole...
Alcoa yesterday announced it has exceed its 2020 carbon footprint goal, the findings of which were released in its 2010 Sustainability Report. The report examines the company’s progress on the sustainability of its products, resources and operations. According to the report, Alcoa was also the first company to receive silver-level Cradle to Cradle Certification for primary aluminum.
Reuters reported that South Korea's Samsung Engineering had clinched a USD 590 million deal with JV of Saudi Arabian Mining Company and US aluminum giant Alcoa to build part of a huge aluminum complex. Samsung already signed in February a letter of intent for engineering, procurement and construction of a rolling mill for the world's largest fully integrated aluminum complex. The South Korean company said in a statement that it had secured a combined USD 1.2 billion order including the rolling mill as it had received a notice of award for other facilities in the project as well.
