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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India Infoline reported that China imports data has not given any ray of hope for the traders who were desperately awaiting the data after the yesterday's downgrade of Greece rating by S&P and unenthusiastic buying. The monetary tightening measures in China seemed to work well for the imports. Already facing duty hikes and demand decline rate rise in China proved fatal. Unwrought Aluminum and product imports in China stood at 76724 tonnes in April as against 87729 tonnes in March down 12.5%. The imports of Aluminum also disappointed on a yearly basis, the imports of unwrought Aluminum on yearly basis declined by 18% from 93341 tonnes on April 2010. Meanwhile, a slowdown in Aluminum is expected as the day progresses in Indian futures markets. Aluminum for May expiry is trading at INR 116.6...
India Infoline reported that China imports data has not given any ray of hope for the traders who were desperately awaiting the data after the yesterday's downgrade of Greece rating by S&P and unenthusiastic buying. The monetary tightening measures in China seemed to work well for the imports. Already facing duty hikes and demand decline rate rise in China proved fatal. Unwrought Aluminum and product imports in China stood at 76724 tonnes in April as against 87729 tonnes in March down 12.5%. The imports of Aluminum also disappointed on a yearly basis, the imports of unwrought Aluminum on yearly basis declined by 18% from 93341 tonnes on April 2010. Meanwhile, a slowdown in Aluminum is expected as the day progresses in Indian futures markets. Aluminum for May expiry is trading at INR 116.6...
Reuters reported that BHP Billiton was not planning a bid for US aluminum company Alcoa Inc. Mr Jacques Nasser chairman of BHP said at a business lunch when asked about whether that it's just not what we would do. BHP would consider bidding for Alcoa.
Hindalco Industries Limited announced its unaudited financial results for the Q4 ended March 31st 2011. Its performance in the quarter has been significantly better than the comparable quarter in the previous year. Q4 FY11 Results Net sales at INR 6,846 crore in Q4 FY11 were up 27% over Q4 FY10. Better geographic and product mix along with higher LME and better copper volume have been the main performance drivers. The adverse impact of rupee appreciation, higher coal and carbon cost and lower TcRc were largely compensated by improved operating efficiencies and higher value added by product credit in Copper Business. Other Income was higher by INR 27 crore on the back of improved treasury yield and larger corpus, post return of capital from Novelis. Employment cost rose by around INR 60...
Money Control reported that National Aluminum Company has cut aluminum prices by INR 6,500 per tonne a week after raising the domestic prices by INR 4,000 per tonne. The official said that both the moves were prompted by the changes in London Metal Exchange rates. With the latest move, the prices of standard aluminum ingots stand trimmed at INR 145,700 per tonne. NALCO had last week raised the basic price of standard aluminum ingots and standard aluminum sow ingots to INR 152,200 per tonne.
Reuters reported that China will close down 291,000 tonnes of outdated copper smelting capacity this year as part of a wider crackdown on 18 heavy and polluting industries. The country's industry ministry said that the Ministry of Industry and Information Technology will also close 600,000 tonnes of outdated aluminum smelting capacity by the end of the year. It also aims to shut 26.27 million tonnes of obsolete steelmaking facilities, 26.53 million tonnes of iron smelting equipment and 18.7 million tonnes of coking coal capacity by the end of the year. The ministry also aims to tackle the copper sector with plans to close 291,000 tonnes of smelting capacity this year. Beijing has put industry restructuring at the top of its list of priorities for the 2011 to 2015 period as it tries to...
Aluminum Dubai 2011, the second edition of the Middle East's leading aluminum trade show, was inaugurated by His Excellency Ahmad Al Tayer, Governor of the Dubai International Financial Centre at the Dubai International Convention and Exhibition Centre. Event organizer Reed Exhibitions has revealed that more than 150 exhibitors are taking part in this edition of the event, which is also expected to draw more than 3,000 trade visitors from over 50 countries. Aluminum Dubai 2011 runs until May 11th 2011 at Sheikh Saeed Halls 2 and 3 of DICEC. Aluminum Dubai serves as a regional platform that brings together international industry leaders including aluminum producers, processors and manufacturers of raw materials and end products with aluminum components as well as suppliers of technologies...
Money Control reported that Hindalco Industries is likely to post good growth in top line and EBITDA on QoQ basis. According to CNBC TV18 estimates, company is expected report 13% de growth in Q4 standalone profit after tax of INR 578 crore as against INR 664 crore in a year ago period. January to March quarter FY2010 PAT of INR 664 crore included tax adjustment amounting to INR 113 crore. If we remove the same, the PAT would be INR 551 crore. Revenues are seen going up by 21% at INR 6,507 crore from INR 5,358 crore in same quarter the previous year. Earnings before interest, tax, depreciation and amortization is likely to go up by 10% at INR 916 crore from INR 835 crore. However, EBITDA margin is seen growing at 14% as against 16%. On QoQ basis, revenues are expected to grow by 10%,...
Aluminium premiums shot to record highs this week in the US Midewest, closing in on the 10 cent-per-lb level, as lengthy lead times out of North American warehouses continued to choke off supply flows. Spot prices paid over the London Metal Exchange (LME) climbed to an all-time peak at 9.5 to 9.75 cents per lb this week, up more than 45% since the start of the year. That meteoric rise has been fuelled largely by increasingly strong domestic demand and a growing regional deficit in North America, where incentive-based finance deals continue to attract greater amounts of the metal into the warehouses. Nowhere have these "deals" created more bottlenecks in the supply chain than in Detroit, where more than 1.1 million tonnes of the lightweight metal sit. With warehouse incentives in Detroit...
The world is undergoing fundamental shifts that will shape the next 50 years -- trends that will increase demand for aluminum and products made by Alcoa, Company Chairman and CEO Klaus Kleinfeld told investors at Alcoa’s 123rd Annual Meeting of Shareholders, held today in Pittsburgh. Kleinfeld also reported that the company’s joint venture in Saudi Arabia is on schedule, and he paid tribute to retiring director Joseph T. Gorman, a member of the Alcoa board since 1991. Kleinfeld presented an upbeat view of an “aluminizing” world, where population growth and urbanization are driving demand for more efficient infrastructure and transportation solutions. “The world is experiencing fundamental shifts that will shape the next 50 years,” Kleinfeld said. “We will experience changes in all aspects...
Good news between state-owned enterprise and local enterprise again. Today, Beijing Mining and Metallurgy Research Institute and Zhuzhou Torch Industry Furnace Company Ltd signed a strategic reorganization agreement in Zhuzhou. Beijing Mining and Metallurgy Research Institute through increase capital and enlarge share become the holding company of Zhuzhou Torch Industry Furnace Company Ltd. The two parties together to create domestic biggest non-ferrous smelting equipments manufacture base. It is reported that this is the first time that state-owned enterprise and private enterprise successful integration. Beijing Mining and Metallurgy Research Institute belongs to the State Council, the SASAC, is a state-owned enterprise
Bhoruka Aluminum reported net profit of INR 0.13 crore in the quarter ended March 2011. Sales reported to INR 39.04 crore in the quarter ended March 2011. For the audited full year, net profit reported to INR 1.43 crore in the year ended March 2011. Sales reported to INR 148.85 crore in the year ended March 2011. As per the scheme of amalgamation, Bhoruak Agro Greens Limited was amalgamated with the company with effect from January 25th 2011. Hence, the current quarter and full year ended March 2011 are not comparale with the corresponding previous quarter and full year ended March 2010.
Qatalum, the state-of-the-art aluminium smelter being built as a joint venture between Qatar Petroleum and Hydro in line with Qatar's long-term economic diversification strategy, will be participating in - and sponsoring - the second biennial Aluminium Dubai exhibition, taking place from 9 to 11 May 2011 at the Dubai International Convention Centre. Aluminium Dubai 2011 is the leading exhibition for aluminium products, technologies and investments in the Middle East, and serves as a regional platform that brings together international industry leaders, aluminium components, and suppliers of technologies and accessories for aluminium production, processing and refinement.
Southern Aluminum Finishing (SAF) will suspend its expansion plans in Redding, citing the continuing construction industry depression. The family-owned, Atlanta-based firm had planned to build its west coast headquarters at Stillwater Business Park starting this spring. Jim McClatchey, SAF vice president, confirmed this afternoon the firm has suspended its expansion plans. "When we started last year down this path we knew 2011 was going to be a poor year, but we really felt in 2012 we would start out of it," McClatchey said. "As time has gone on it looks like 2012 is not getting better. So it did not make sense to push on right now with our plans."
South Korea’s Public Procurement Service, which stockpiles strategic commodities, bought 1,000 metric tons of high-grade, primary aluminum in a tender, according to a notice on the state-run agency’s website today. The metal was so-called non-Western grade and the purchase was made from Glencore International AG at a premium of $107 a ton over the London Metal Exchange official cash-settlement price for delivery to Daegu, the agency said. The premium included insurance and shipping costs. The agency plans to issue the result for another tender, for 1,000 tons of Western-grade aluminum, on May 9.
The Board of Directors of Alcoa declared (a) a quarterly common stock dividend of 3 cents per share payable May 25, 2011 to shareholders of record at the close of business on May 16, 2011 and (b) a quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock payable July 1, 2011 to shareholders of record at the close of business on June 10, 2011.
PLS, based near Pittsburgh, Pennsylvania, offers logistics services for industrial and metal related industries, from turnkey outsourced logistics solutions, to inbound management as well as spot market and surge capacity. It ships more than one-million loads annually across all major freight modes and has more than 150,000 trucks representing 10,000 carrier partners, along with railroads and major barge companies. Aluminum Association President Steve Larkin said: “Our industry would not be possible without dependable transportation. We will continue to enhance the partnership between our member companies to meet the needs of industry consumers.”
LONDON -- U.K.-listed, India-focused Vedanta Resources PLC aims to purchase a 58.5% stake in Cairn India Ltd. following its recent stake purchases in the Indian gas and oil explorer, Vedanta's chief executive said Thursday. "Under the present situation, having acquired 18.5%" through Vedanta's Sesa Goa Ltd. unit, and taking into account a minimum requirement to purchase a 40% stake in Cairn India from its parent Cairn Energy PLC, "that will bring the total to 58.5%," said M.S. Mehta said in a conference call with journalists.
