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...
Grow with
AL Circle
A new strategic investment has surfaced within the Chinese aluminium industry, with GLENCORE and Hillhouse Investment plans to acquire Chuangxin Industries during its upcoming IPO to be held in Hong Kong. This further signals an uplift in the Chinese aluminium smelter's potential as metal prices keep climbing. The asset manager and the Swiss commodity giant will be participating as the cornerstone investors, and as per the sources, but they wish to remain unidentified while conducting a discussion of a private matter. The IPO buyers who are allocated for the guaranteed share, as referred by the cornerstone investors, will be holding the stock for a specific time frame. Moreover, as per some people's saying, the China Hongqiao Group, which is deemed to be the country's largest private...
Under the guidance of the Ministry of Lands and Natural Resources, the Ghana Integrated Aluminium Development Corporation (GIADEC) has started making notable moves to fast-track the country’s industrial transformation. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain In line with this push, Minister Emmanuel Armah-Kofi Buah has established an investor selection committee tasked with identifying a strategic partner for the modernisation of the Volta Aluminium Company (VALCO) and the development of Ghana’s first alumina refinery. Driving Ghana’s industrial transformation In his speech, the minister explained that these two projects would mark a major shift from a raw bauxite-exporting model to a value-added processing economy. He underscored...
LME aluminium inched higher on November 13 across cash, 3-month and December contracts, with exchange stocks also showing a modest increase. The cash bid price rose to USD 2,874 per tonne on November 13 from USD 2,855.50 per tonne on November 12 — an increase of 0.65 per cent. The cash offer also inched up to USD 2,876 per tonne, up 0.70 per cent from USD 2,856 per tonne the day before. The 3-month bid climbed to USD 2,899.50 per tonne, a 0.40 per cent rise from USD 2,888 per tonne on November 12, while the 3-month offer moved to USD 2,900 per tonne, up 0.38 per tonne from USD 2,889 per tonne. The December 26 contract also strengthened, with the bid price at USD 2,925.50 per tonne, up 0.19 per cent from USD 2,920 per tonne, and the offer rising to USD 2,930 per tonne, marking a 0.17 per...
Europe’s aluminium market is being squeezed from three sides at once: soaring premiums, a major smelter shutdown and the countdown to CBAM. Together, these pressures are tightening supply, inflating costs and reshaping trade flows across the continent as 2025 draws to a close. Premiums surge as supply tightens across Europe The first sign came from the premium market. By November 2025, Europe’s duty-paid premium had climbed to USD 324.38 per tonne, after touching a nine-month high of USD 330 per tonne on November 3. Forecasts for December point to roughly USD 335.50 per tonne, with 2026 estimates sitting between USD 327.25 and USD 330.50 per tonne. The rise did not come from a single trigger but from a combination of tightening supply, higher freight rates and early adjustments to...
Aluminium prices have witnessed a 0.09 per cent rise, amounting to USD 273.8 per kg, attributed to revived market sentiment by the support of China’s economy-boosting measures and the US government shutdown causing supply disruptions . Supply tightness builds globally Production issues at major smelters have also contributed to the price hike, amplifying concerns of a supply squeeze. The suspension of one potline at Iceland’s Grundartangi smelter, Alcoa’s decision to close the Kwinana alumina refinery in Australia, and output cuts at Century Aluminium’s Iceland plant due to electrical failures have all reduced global capacity. These developments mark a notable shift after years of consistent oversupply. Kedia noted as traders increasingly bet on a structural rebalancing of the market,...
After a slight decline on November 11, the London Metal Exchange (LME) aluminium price gained traction on November 12. The LME cash bid on November 12 rose by USD 15.5 per tonne or 0.55 per cent, up from USD 2,840 per tonne to USD 2,855.5 per tonne. The cash offer also rose by USD 15 per tonne or 0.53 per cent, from USD 2,841 per tonne to USD 2,856 per tonne. For the 3-month contract, both the bid and offer improved by USD 23 per tonne or 0.8 per cent, where the bid rose from USD 2,865 per tonne to USD 2,888 per tonne and the offer from USD 2,866 per tonne to USD 2,889 per tonne. Similarly, the December 26 contract also increased by USD 23 per tonne or 0.8 per cent and bid settled at USD 2,920 per tonne, up from USD 2,897 per tonne and offer at USD 2,925 per tonne, from USD 2,902 per...
Century Aluminium Corporation’s shares tumbled sharply after reports emerged that Glencore, its key investor, sold a majority of its holdings in a large block trade. Reportedly, Glencore offloaded its 9 million shares of Century Aluminium at USD 30.65 each, generating gross proceeds of approximately USD 275.9 million. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain The shares were priced at the lower end of the USD30.65-USD31.65 range set for the offering and represented a 5.1 per cent discount to Century Aluminium’s previous closing price of USD 32.31 on Monday. The sale amounted to around 9.6 per cent of Century Aluminium’s outstanding shares. Before the transaction, Glencore held 40.1 million shares, making it the company’s largest single...
Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter on one site, has posted a strong financial performance for Q3 2025, safely navigating demand constraints and tariff tensions. Sales volume down yet profit up - this underscores a favourable price mix for Alba. What else has supported Alba’s Q3 fiscal? Here’s the performance analysis. Stable quarter backed up the aluminium price rally During Q3 2025, which ended September 30, Alba earned a revenue of BD 449.4 million (USD 1,195.3 million), which reflected a Y-o-Y surge of 3.7 per cent from BD 433.5 million (USD 1,152.8 million) in Q3 2024. Along with revenue growth, Alba also experienced an increased profit of BD 67.3 million (USD 179 million), up by 23 per cent from BD 54.5 million (USD 145 million) a year ago. The...
On the Multi Commodity Exchange (MCX), the Aluminium Futures contract trade is recorded to be swaying between INR 268 (USD 3.22) and INR 275 (USD 3.31) per kg. As of now, aluminium is traded at INR 273 (USD 3.28) per kg. As of now, the price has been broadly range-bound in the past week. With a positive uptrend, the MCX Aluminium Futures contract has a support level which has been set to INR 268 (USD 3.22). As long as the market continues to stay above this mark, the market sentiment will remain bullish. It is expected to see a bullish breakout above the current consolidation of INR 275 (USD 3.31), then a further upward movement could be achieved. This will significantly push the contract to range between INR 282 (USD 3.39) and INR 283 (USD 3.40) in the near future. Also read: Cast...
From air traffic controllers leaving their posts to federal workers missing pay cheques for the second time in a row, the 43-day-long US federal government shutdown has taken a toll across all sectors. The crisis has dealt a double blow to the economy — first from tariffs and now from halted government operations. As trade slows, diplomatic ties fray, and even neighbouring allies distance themselves, the situation reeks of broader loss of confidence. With a national debt nearing USD 38 trillion as of early November 2025, the prolonged deadlock is now rippling through the country’s economy, trade, and transportation systems. Image for referential purposes only Explore- Most accurate data to drive business decisions with 50+ reports across the value chain Why did the government shut down in...
ICICI Securities has reiterated its Hold rating on National Aluminium Company (NALCO), assigning a target price of INR 246 (approximately USD 3) per share. This review followed NALCO’s strong financial performance in Q2 FY2026, with EBITDA gaining 29 per cent to INR 19.2 billion (USD 230 million approximately). Explore- Most accurate data to drive business decisions with 50+ reports across the value chain The outperformance was mainly due to a strong jump in alumina sales volumes during the quarter. NALCO expects to sell between 1.25 and 1.28 million tonnes of alumina in FY26 , consistent with its annual guidance. The company’s ongoing refinery expansion, which will add 1 million tonnes per annum (MTPA) of alumina capacity, is expected to be completed in the first quarter of FY27. Once...
On November 11, LME aluminium prices recorded minor declines across key contracts compared to November 10. The cash bid price stood at USD 2,840 per tonne, down 0.94 per cent from USD 2,867 per tonne a day earlier, while the cash offer slipped 0.92 per cent to USD 2,841 per tonne, compared with USD 2,867.5 per tonne previously. For the 3-month contract, the bid price fell 0.61 per cent to USD 2,865 per tonne from USD 2,882.5 per tonne, and the offer price eased 0.59 per cent to USD 2,866 per tonne, down from USD 2,883 per tonne. The December 26 contract also weakened, with the bid at USD 2,897 per tonne, marking a 0.38 per cent drop from USD 2,908 per tonne, while the offer price decreased to USD 2,867.5 per tonne from USD 2,913 per tonne, representing a decline of 1.56 per cent. In...
On the evening of November 10, 2025, Aluminium buyers in the US physical market witnessed history unfold as the Midwest Premium surged to an all-time high of USD 1,950.15 per tonne , striking a sharp growth of 2.87 per cent overnight from USD 1,895.72 per tonne. The Midwest Premium, a surcharge on top of the London Metal Exchange (LME) price that reflects local delivery costs, logistics, and regional supply-demand dynamics, has become a direct casualty of US protectionist measures. Analysts attribute the latest spike to the combined effects of steep tariffs and mounting supply chain distortions, which have tightened domestic availability of the metal. Surges over several months However, this hike is not an overnight affair. The rally has been building steadily since the beginning of 2025....
Indian aluminium producer Hindalco Industries Limited has released its Q2 FY26 performance for the period ending September 30, 2025. With the rising demand for aluminium within the country, the firm is enhancing production capabilities and is also pushing towards green initiatives via renewable energy use. Overall financial snapshot The group of companies (including Novelis) showed a robust performance across all its businesses in Q2 FY26, where the consolidated revenue reached INR 660.58 billion (USD 7.95 billion). It reflected an increase of 13 per cent from INR 5.83 billion (USD 7.01 billion) in Q2 FY25. The business segment EBITDA climbed by 6 per cent year-on-year, amounting to INR 0.91 billion (USD 1.10 billion), up from INR 0.86 billion (USD 1.03 billion) the previous year. Profit...
The week opened with the London Metal Exchange (LME) aluminium prices moving upward and the inventories contracting. The LME cash bid rose by USD 27 per tonne or 0.95 per cent to finally settle at USD 2,867 per tonne, up from USD 2,840 per tonne. Concurrently, the LME cash bid rose by USD 26.5 per tonne or 0.93 per cent, reaching USD 2,867.5 per tonne, up from USD 2,841 per tonne. Both the 3-month bid and offer rose by USD 31.5 per tonne or 1.1 per cent and each adjudicated at USD 2,882.5 per tonne and USD 2,883 per tonne, up from USD 2,851 per tonne and USD 2,851.5 per tonne, respectively. A similar trend had been seen at the LME forward contracts when the December 26 bid and offer significantly rose by USD 30 per tonne or 1 per cent. December 26 bid settled rose from USD 2,878 per tonne...
Chinalco Southwest Aluminium has reportedly entered into a business contract with SMS group to secure a new 1+4 aluminium hot-strip mill. The new facility will be installed at a plant currently under construction near the company’s existing operations in Xipeng, China. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain Li Yong, chairman of Southwest Aluminium, said the new order reflects the growing collaboration between the two companies. He added that the partnership - built on trust and earlier successful projects - will enable the firm to widen its product range and respond more effectively to customer demands. Li described the investment as a step towards maintaining world-class manufacturing standards and strengthening long-term...
NALCO has had a strong FY 2025–26 so far. In the quarter ending September 2025, the company’s net profit shot up by 35 per cent, reaching INR 1,433 crore (USD 161.5 million), compared to INR 1,062 crore (USD 119.7 million) during the same quarter last year. Image for representational purpose Total income from operations also moved up to INR 4,292 crore (USD 484 million), showing 7.2 per cent growth over Q2 FY 2024–25, as noted in the Board meeting held in Bhubaneswar. The first half of the financial year looks even better. NALCO’s net profit for H1 climbed to INR 2,497 crore (USD 281.5 million), a 50.15 per cent jump over the INR 1,663 crore (USD 187.5 million) recorded in the previous year’s first half. On the production side, the company has been hitting new peaks. Alumina Hydrate...
Aluminium prices moved lower on the London Metal Exchange (LME) on Thursday, November 7, reaching a two-week low as weakness in global equities weighed on sentiment across base metals. The decline came even as prospects for demand in China, the world’s biggest producer, continued to look firm. Explore- Most accurate data to drive business decisions with 50+ reports across the value chain Benchmark aluminium on the London Metal Exchange (LME) slipped 0.4 per cent to USD 2,838.50 a tonne by 1619 GMT on Thursday, having earlier touched USD 2,831.50, the lowest since 23 October. Prices were up earlier in the day but reversed course after Wall Street’s major indexes fell, with technology shares facing renewed selling. Alastair Munro, senior metals strategist at Marex, said that uncertainty...
