In the first half (H1) of 2026, the US imported a total of 1.68 million metric tons of unwrought aluminum (HSN code: 7601), of which 16.96% was sourced from the United Arab Emirates (UAE). How has H1 2026 fared for the momentum of unwrought aluminum exports from the UAE to the US? Year-on-year cooling in trade can be noticed, largely owing to the temporary shutdown of the Emirates Global Aluminium’s (EGA’s) Al Taweelah smelter for repair and maintenance. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: “ Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook ” H1 aluminum trade snapshot: 2026 vs 2025 vs 2024 Comparing the H1 2026 figures of unwrought aluminum exported by the UAE to the US, a mixed result...
Norsk Hydro’s earnings outlook for 2027 is facing mounting pressure from falling aluminium premiums, rising operating costs and easing supply tightness in Europe, prompting Goldman Sachs to downgrade the Norwegian producer from ‘buy’ to ‘neutral’ and reduce its price target from NOK 100 (USD 10.71) to NOK 79 (USD 8.46). Goldman said weaker premiums and higher costs were making further earnings growth harder to achieve in 2027. The bank also lowered its core earnings (EBITDA) forecasts for 2026 and 2027 by 6 per cent each, citing lower aluminium prices and rising costs. The changing market conditions come as additional metal from the Middle East reaches the market and Indonesian aluminium supply expands faster than expected, easing European supply constraints sooner than Goldman had...
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LME aluminium prices eased on November 21, with both cash and three-month contracts posting modest declines from the previous session, while exchange inventories continued to edge higher. On November 21, the LME aluminium cash bid stood at USD 2,765 per tonne, down 0.47 per cent from USD 2,778 on November 20. The cash offer slipped to USD 2,765.5 per tonne, also a 0.47 per cent drop from USD 2,778.5 previously. The three-month bid fell to USD 2,791 per tonne, a 0.68 per cent decline from USD 2,810 per tonne, while the three-month offer price eased to USD 2,792 per tonne, down 0.68 per cent from USD 2,811 per tonne. Forward values also weakened. The December 26 bid came in at USD 2,828 per tonne, down 0.53 per cent from USD 2,843 per tonne on November 20. The December 26 offer dropped to...
This week has been a buzz for the global aluminium industry, with fresh investments pouring into bauxite and alumina technologies, the fluctuations in the LME aluminium prices and the trade scenario due to Trump’s tariff. Key factors like the policy changes, aluminium output and strategic partnerships are aiming to reshape the market narrative. Weekly recap: Bauxite, Alumina & Primary AL by AL Circle Pvt Ltd New investment in the global bauxite industry As seen during the ICSOBA and IFCURM 2025 conferences, Geomega Resources Inc. will be providing an update on the recent financial instruments’ exercises, observations and takeaways concerning the bauxite residue valorisation opportunity. As of September 1, 2025, the Corporation has successfully raised USD 2,728,773 from the exercise of...
On November 20, Emirates Global Aluminium (EGA), known to be the world’s largest premium aluminium producer, announced that in cast metal production, since 1979 to date, it has reached 50 million tonnes. After the export of oil and gas, EGA’s aluminium is deemed to be the largest made-in-the-UAE export, shipping to more than 50 countries. EGA produces one in every 25 tonnes of aluminium produced globally. Its journey can be traced back to 1979, when the firm began production as a small regional smelter located in Jebel Ali, where the annual production capacity was recorded at 135 thousand tonnes per year. Since then, the firm has expanded eight separate times. In order to produce the first 10 million tonnes of cast metals, the firm took nearly 30 years. In 2009, the production at EGA’s Al...
The London Metal Exchange (LME) aluminium price on November 20 showed a mixed movement, where the cash bid and offer showed a slight decline, but a significant rise was recorded for the LME 3-month and the December 26 contracts. The LME cash bid fell by USD 2 per tonne or 0.07 per cent and settled at USD 2,778 per tonne, down from USD 2,780 per tonne. Similarly, the LME cash offer inched down by USD 2.5 per tonne or 0.08 per cent and is currently at USD 2,778.5 per tonne from USD 2,781 per tonne. On the contrary, the LME 3-month bid rose by USD 4.5 per tonne or 0.2 per cent, to settle at USD 2,810 per tonne from USD 2,805.5 per tonne. Concurrently, the LME 3-month offer also widened on November 20, up by USD 5 per tonne or 0.2 per cent to reach USD 2,811 per tonne, up from USD 2,806 per...
LME aluminium prices strengthened on November 19, with gains recorded across cash, 3-month and December 2026 contracts compared to the previous session. The LME aluminium cash bid increased from USD 2,748.5 per tonne on November 18 to USD 2,780 per tonne on November 19, marking a 1.15 per cent rise. The cash offer also moved up from USD 2,749.5 per tonne to USD 2,781 per tonne, up 1.14 per cent. The 3-month bid price climbed from USD 2,785 per tonne to USD 2,805.5 per tonne, a gain of 0.74 per cent, while the 3-month offer rose from USD 2,787 per tonne to USD 2,806 per tonne, an increase of 0.68 per cent. Further along the curve, the December 2026 bid advanced from USD 2,825 per tonne to USD 2,837 per tonne, rising 0.42 per cent, and the offer moved from USD 2,830 per tonne to USD 2,842...
Indonesia’s strategic move to expand its domestic mineral processing continues with PT Alamtri Minerals Indonesia Tbk (ADMR) planning to start its new aluminium plant in North Kalimantan in mid-December. The facility, situated on the Island of Borneo, is set to become one of Indonesia’s large aluminium operations. Alamtri director, Wito Krisnahadi, confirmed via text message that initial activities at the site would begin next month. Production will be scaled up gradually throughout next year, forming part of the planned commissioning phase. Krisnahadi added that the site is expected to reach its full annual output of 500,000 tonnes by October 2026. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain Beyond the first phase, ADMR has outlined a...
The declining trend concerning the London Metal Exchange (LME) aluminium price continued on November 18, 2025. The LME aluminium cash bid shifted from USD 2,797.5 per tonne to USD 2,748.5 per tonne, indicating a decline of USD 49 per tonne or 1.8 per cent. Similarly, the cash offer moved from USD 2,798 per tonne to USD 2,749.5 per tonne, suggesting a slip of USD 48.5 per tonne or 1.73 per cent. The declining trend was observed in the LME 3-month bid and offer price, where the bid declined by USD 48 per tonne or 1.7 per cent to reach USD 2,785 per tonne. The 3-month offer inched down by USD 47 per tonne or 1.6 per cent and is currently at USD 2,787 per tonne on November 18. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain Both the December 26...
Ontario has rolled out a CAD 4 billion (USD 2.8 billion) support package aimed at helping manufacturers, metal producers and other sectors still dealing with the economic fallout of US steel and aluminium tariffs. The new funding is structured to give companies financial breathing room as they cope with tariff-driven cost spikes. The province says the package can cover a mix of grants, tax credits, low-interest loans and operational assistance, depending on each company’s needs. The goal is to help manufacturers maintain production, avoid layoffs and offset the higher cost of steel and aluminium that has seeped into everything from auto assembly to construction materials. Officials say the programme is open to manufacturers across Canada that have been hit by the US measures. Part of the...
China’s aluminium market gained fresh momentum in October, with imports of unwrought aluminium and aluminium products rising 10.4 per cent year-on-year. China brought in 350,000 tonnes in the month, a figure signalling persistent appetite from sectors such as transport, construction, and packaging. Traders noted that demand “remained healthy in October”, supported by steady downstream activity. The October increase followed a 35.4 per cent surge in September, extending China’s cumulative imports to 3.36 million tonnes in the first ten months, up 6.1 per cent year-on-year. Prices, however, softened. According to the Shanghai Metals Market data, the metal was traded at USD 2,665.91 per tonne on November 18, recording a decline of 22.93 per cent from the previous day. Explore- Most accurate...
China Hongqiao Group has announced its plan to raise HKD11.68 billion (USD 1.5 billion approximately) through a share sale. The largest private aluminium producer will use the accumulated funds to support projects and repay debt, as mentioned in their filing with the Hong Kong stock exchange on Tuesday. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain The company intends to sell up to 400 million existing shares at HKD29.20 (USD 3.75 approximately) each, a 9.6 per cent discount to Monday’s closing price. The placed shares would represent about 4 per cent of the enlarged share capital. Hongqiao noted that the offer price is roughly 2.2 per cent above the average closing price of around HKD28.58 (USD 3.68 approximately) over the past 30 trading...
China's weak macro signals and the fading hope of the US Fed rate cut have resulted in aluminium price drop of 1.35 per cent, settling at USD 266.85. In addition, supply concerns due to a 9 per cent month-on-month decline in China's October primary aluminium output, standing at 3.8 million tonnes, also contributed to the aluminium price fall. Downside also remained limited due to the Chinese smelters' focus on nudging government-imposed capacity limits, which is directly linked with the rising concerns over the compelled output for the coming months. Moreover, with the slowest growth in industrial output by about 4.9 per cent, with the retail sales rising at 2.9 per cent, also posed pressure on demand, pulling down the aluminium price. While new home prices dropped by 0.5 per cent, new...
LME aluminium prices eased between November 14 and November 17, with both cash and three-month contracts posting modest declines, while exchange inventories also edged lower. The LME aluminium cash bid slipped from USD 2,832 per tonne on Nov 14 to USD 2,797.5 per tonne on Nov 17, a drop of 1.22 per cent. The cash offer fell by the same margin, from USD 2,832.5 per tonne to USD 2,798 per tonne. The three-month bid price decreased 0.77 per cent, moving from USD 2,855 per tonne to USD 2,833 per tonne, while the three-month offer dipped 0.80 per cent to USD 2,834 per tonne from USD 2,857 per tonne. The December 26 bid price declined 0.73 per cent, falling from USD 2,888 per tonne to USD 2,867 per tonne. The December 26 offer price dropped 0.73 per cent as well, from USD 2,893 per tonne to USD...
Campbell & CO Investment Adviser LLC has reduced its stake in Century Aluminum Company (NASDAQ:CENX) by 63.1 per cent in the second quarter, according to its latest filing with the Securities and Exchange Commission. The firm sold 33,907 shares during the period, leaving it with 19,859 shares valued at USD 358,000 at quarter-end. Other major investors have also adjusted their positions. Jones Financial Companies LLP has acquired a new holding in the first quarter worth USD 25,000. Farther Finance Advisors LLC increased its stake by 1,291.8 per cent in the second quarter and now holds 1,364 shares valued at USD 25,000 after adding 1,266 shares. Caitong International Asset Management Co. Ltd lifted its position by 261.8 per cent in the first quarter, bringing its total to 4,020 shares worth...
In a major boost to its industrialisation agenda, Ethiopia’s largest sovereign wealth fund, Ethiopian Investment Holdings (EIH), has signed an initial deal with RUSAL to develop a high-capacity aluminium smelter. With a planned output of 500 thousand tonnes a year and an estimated USD 1 billion in initial investment, this agreement, led by Ethiopian Investment Holdings (EIH), marks one of the country’s most significant new industrial ventures. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain A strategic investment with long-term ambition EIH said the project, covered under a memorandum of understanding (MoU), will take three to four years to complete. The plant is designed with a projected operating lifespan of around 50 years, underscoring...
A sharp decline in the London Metal Exchange (LME) aluminium price was witnessed on November 14 in comparison to the price recorded on November 13. The LME cash bid fell by USD 42 per tonne or 1.5 per cent to reach USD 2,832 per tonne from USD 2,874 per tonne. Similarly, the cash offer also declined by USD 43.5 per tonne or 1.51 per cent to finally get at USD 2,832.5 per tonne from USD 2,876 per tonne. Concurrently, the 3-month LME bid shrank by USD 44.5 per tonne or 1.53 per cent, down from USD 2,899.5 per tonne to USD 2,855 per tonne. The 3-month offer replicated a similar trend where it went down by USD 43 per tonne or 1.5 per cent, from USD 2,900 per tonne to USD 2,857 per tonne. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain Both the...
The energy industry attended ADIPEC 2025 with a familiar problem and left with a sharper one. Every major conversation in Abu Dhabi, whether on investment flows, upstream fuel security, grid volatility or the rapid buildout of digital energy systems, pointed to a structural shift already underway: the cost and carbon advantage of aluminium is no longer determined by the smelter, but by the energy system surrounding it. Image source: https://www.mdpi.com/ Explore- Most accurate data to drive business decisions with 50+ reports across the value chain This is the unavoidable conclusion when the power consumption map from 2023–24 (Part 1 of this series) is layered against the messages coming out of ADIPEC. Smelters are now operating in an environment where energy is both their largest risk...
NALCO’s strong September quarter results have sparked a sharp rebound in its stock, with the shares adding another 2% to hit a fresh high of INR 271.90 and extending the four-day rally to 16 per cent. Investors have been piling in since the company’s Q2 numbers beat expectations and several brokerages responded by lifting their target prices. The state-run aluminium producer delivered a solid set of results for the quarter ended September. Consolidated revenue came in at INR 42.92 billion (USD 484 million), up 7 per cent from a year earlier and 13 per cent from the previous quarter, helped mainly by higher alumina sales. EBITDA improved to INR 19.26 billion (USD 214 million), a 24 per cent rise year-on-year, as the company kept a tight lid on raw material, power and employee costs. Net...
ELYSIS has activated its 450 kiloampere (kA) inert anode cell, installed at the end of an existing potline at Rio Tinto’s smelter in Alma, Québec. The company described the development as a major step forward in the shift towards large-scale aluminium production with a lower carbon footprint. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain The launch is a major innovation and marks the first commercial deployment of inert anode technology. The technology results from extensive research, development and industrial trials, and demonstrates aluminium production at high amperage without direct carbon emissions. According to ELYSIS, the technology will offer further advantages, including improved safety conditions for employees, potential cost...
