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 Clear, the clearing house of the London Metal Exchange (LME), has announced a new triparty collateral service designed to simplify collateral management and cut operational costs for its clearing members. The initiative is being supported by Euroclear, one of the world’s largest financial market infrastructures, which holds more than USD 47.8 trillion in assets under custody. Streamlining collateral transfers through the triparty model The new arrangement enables clearing members to manage collateral more efficiently when meeting margin requirements. Earlier, it was mandatory to transfer individual securities directly into LME Clear’s collateral account, which also involved significant administrative complexities. Under the triparty model, members will instead be able to hold...
Japan plays a vital role as a major aluminium importer in Asia; with the premiums it negotiates each quarter over the LME cash prices acting as a regional standard. However, it's rare for these negotiations to drag on for several weeks after the start of the quarter. The quarterly pricing talks between Japanese aluminium buyers and global producers have been dragging on longer than usual. Both parties are struggling to find common ground on primary metal shipments for the October to December period, confirmed by three industry insiders who are part of the discussions. Clash between the Japanese aluminium buyers and global suppliers Discussions between Japanese buyers and global suppliers, like Rio Tinto and South32, began in early September. Initially, producers suggested premiums to...
Aluminium markets were cautious this week, with renewed trade concerns between the US and China weighing on sentiment. Financial research firm Kedia Advisory reported aluminium settling down by 0.21 per cent at INR 263.6 (USD 3), reflecting investor unease over global demand trends. Output caps and trade diplomacy Markets grew jittery after the US Treasury Secretary Scott Bessent confirmed President Trump’s upcoming meeting with Chinese leader Xi Jinping in late October. The timing adds uncertainty just as China trimmed its base metals output growth target from 5 per cent to 1.5 per cent annually for 2025–2026. Beijing’s move aligns with its 45 million tonne aluminium production cap, an effort to curb deflationary pressures. This change indicates a tighter supply context but is...
The upward trajectory of the London Metal Exchange (LME) aluminium price was consistent on Thursday, October 16, when both the cash bid and offer rose by USD 22.5 per tonne or 0.88 per cent to finally settle at USD 2,774.5 per tonne and USD 2,775 per tonne, respectively. Concurrently, the LME 3-month bid and offer went up by USD 7 per share or 0.3 per cent, and each reached USD 2,755 per tonne and USD 2,755.5 per tonne. The upward movement was also seen in the LME December 26 bid and offer when the price surged by USD 5 per tonne or 0.2 per cent, climbing to USD 2,783 per tonne and USD 2,788 per tonne, respectively. To know more about the global primary aluminium industry 2025 outlook, read “ Global Aluminium Industry Outlook 2025 ” The LME aluminium 3-month Asian Reference Price on...
Today, October 16, 2025, marks the start of consultations for the Albanese Labour Government’s impressive USD 2 billion Green Aluminium Production Credit. This significant investment is set to boost the Australian aluminium industry, helping to fortify local businesses and create jobs. Tracing back to January Australia is strengthening its aluminium industry with AUD 2 billion (USD 1.24 billion) investment , unveiled by Prime Minister Anthony Albanese on January 20, 2025. This initiative is designed to assist aluminium smelters in their shift to renewable energy, providing production credits for every tonne of aluminium produced using renewable electricity over a decade, lasting until 2036. Rio Tinto, a major player in the industry, has shown strong backing for the plan, emphasising its...
The London Metal Exchange (LME) has just rolled out the next step in its mission to create sustainable metal premium pricing for brands that are LME-approved. As part of this exciting initiative, the Exchange is set to introduce a new entity under the HKEX Group in Dubai, which will serve as the pricing administrator. The firm has also put out a discussion paper that lays out its proposed pricing methodology. LME first noted its plans to look into sustainable metal premium pricing back in April 2025. Now, it has rolled out a comprehensive roadmap that details how it intends to approach sustainable metal premium price discovery. This framework puts a strong emphasis on standardisation and transparency as its core principles. It also underscores the crucial role of the pricing administrator...
London Metal Exchange (LME) aluminium prices strengthened on October 15, supported by steady demand and improved market sentiment. The LME aluminium cash bid price stood at USD 2,752 per tonne, up 0.70 per cent from USD 2,733 per tonne on October 14. The cash offer also increased by 0.68 per cent, from USD 2,734 per tonne to USD 2,752.5 per tonne. Similarly, the three-month aluminium bid rose 0.66 per cent, reaching USD 2,748 per tonne from USD 2,730 per tonne a day earlier. The three-month offer gained 0.60 per cent, climbing to USD 2,748.5 per tonne from USD 2,732 per tonne. Further along the curve, the December 26 contract also edged higher. The bid was recorded at USD 2,778 per tonne, up 0.54 per cent from USD 2,763 per tonne, while the offer stood at USD 2,783 per tonne, a 0.54 per...
The flow of aluminium into the United States softened in the first half of 2025 as tariffs, weaker industrial activity, and higher energy costs reshaped buying patterns. Primary aluminium imports came in at 1.81 million tonnes, a touch lower than the 1.85 million tonnes recorded in the same period a year earlier — a 2 per cent decline. The year started briskly, with first-quarter imports rising to 1.07 million tonnes from 0.91 million tonnes in early 2024 as traders rushed to move cargoes ahead of expected tariff increases. But momentum soon faded as the second quarter unfolded. Monthly shipments fluctuated sharply. Imports surged in March to 438,000 tonnes, up from 270,000 tonnes the year before, but demand tailed off almost immediately afterward. January stood at 335,000 tonnes against...
Century Aluminum, a small-cap player in the non-ferrous metals sector, has seen some impressive stock gains recently, both over the past week and the past year. However, despite this positive trend, the company is still facing some strategic hurdles, such as a low Return on Capital Employed and declining profitability. The firm has recently reached a new 52-week high of USD 33.25 on October 13, 2025, showcasing its robust position in the non-ferrous metals industry. With a market cap of USD 2,184 million, a P/E ratio of 18.00 and a return on equity of 16.72 per cent, the company demonstrates effective management and consistent profitability. Share price movement Day-on-day Before the market closed on Tuesday, October 14, the firm's share price stood at USD 32.91. When trading kicked off...
Vedanta's Chairman, Anil Agarwal, recently reached out to Odisha's Chief Minister, Mohan Charan Majhi, to rally support from the state government for speeding up regulatory approvals and moving forward with Vedanta's ambitious USD 20 billion aluminium project. This conversation highlights the firm's dedication to fast-tracking one of the largest investments in India's aluminium industry, which aims to boost domestic production capabilities and foster industrial growth in the region. The ambitious project The Indian aluminium company has made a bold commitment, investing almost INR 1.27 lakh crore (USD 15.3 billion) to set up a 3 million tonne per annum (MTPA) aluminium smelter in the Dhenkanal district of Odisha. Additionally, the firm is putting aside another INR 1 lakh crore (USD 12.05...
As the week starts with the decline in the London Metal Exchange (LME) aluminium price, the trend continues on Tuesday, October 14, as well. The LME cash bid and the settlement offer fell by USD 40 per tonne or 1.44 per cent to reach USD 2,733 per tonne and USD 2,734 per tonne, respectively. The downward trend followed in the 3-month bid and offer price as well, where the bid went down by USD 22 per tonne or 0.8 per cent to finally settle at USD 2,730 per tonne, and the offer inched down by USD 20.5 per tonne or 0.74 per cent and is at USD 2,732 per tonne. To know more about the global primary aluminium industry 2025 outlook, read “ Global Aluminium Industry Outlook 2025 ” The December 26 bid and offer also replicated a similar trend as it crept down by USD 17 per tonne or 0.61 per cent...
Vedanta Aluminium’s subsidiary firm Bharat Aluminium Company Limited (BALCO) has achieved a major milestone with the first metal output from India’s most advanced 525 kilo-ampere (kA) smelter. This is quite a strategic drive that makes BALCO’s goal of producing one million tonnes of metal a reality. With this move, the company is strengthening its position to become a pioneer in the premises of India’s aluminium industry. The new smelter, stationed at Korba, Chhattisgarh, can effortlessly surpass the production capability of the country’s biggest smelter so far,which used an electrical amperage capacity of 378 kA. This is not only a scale-up in the world of metal production but also a smart leap towards energy efficiency in aluminium production. With the commissioning of the 0.435 MTPA...
As the global demand for aluminium continues to surge, Vietnam is stepping up as a vital player in the supply chain. With its rich bauxite reserves and increasing production capabilities, the country is becoming an attractive hub for investors and manufacturers looking for reliable and cost-effective sources of this lightweight metal. As the competition for aluminium supply heats up, Vietnam's emerging role in transforming trade flows in the aluminium market is certainly catching the industry's eye. Bauxite reserves and subsequent mining developments Vietnam, boasting an impressive 5.8 billion tonnes of bauxite in 2024, as per the data of the USGS. The country ranks as the second-largest holder of bauxite in the world, right after Guinea. These reserves, mainly found in the Central...
After a sharp increase for a week, the London Metal Exchange (LME) aluminium prices have seen a steep decline. The LME cash bid fell by USD 26 per tonne or 0.93 per cent to reach USD 2,773 per tonne. The LME aluminium cash settlement offer price also fell by USD 25.5 per tonne or 0.91 per cent, to be at USD 2,774 per tonne. The downward trend followed in the 3-month bid and offer price as well, where each went down by USD 34.5 per tonne or 1.2 per cent to finally settle at USD 2,752 per tonne and USD 2,752.5 per tonne, respectively. To know more about the global primary aluminium industry 2025 outlook, read “ Global Aluminium Industry Outlook 2025 ” The December 26 bid and offer also replicated a similar trend as it inched down by USD 30 per tonne or 1.1 per cent and stood at USD 2,780...
Hindustan Construction Company (HCC) has secured a contract worth approximately USD 24.4 million from Hindalco Industries. The project involves the fabrication of post shells and superstructures, and other crucial components that play a critical role in aluminium production facilities. The new contract helps strengthen HCC’s accelerating expertise in developing specialised construction and fabrication work, specifically in the metal and mining sector of India. Image source: https://media.licdn.com/ Also read: Maan Aluminium encounters divergent technical signals amid turbulent market conditions The new contract is expected to significantly boost HCC’s order book and simultaneously bolster its overall business momentum in the coming quarters. The project not only creates ways for...
In Ciudad Juárez, a vital manufacturing centre near the Mexican-US border, many companies that mainly cater to the US market have recently made some tough decisions to cut their workforce. These layoffs are primarily linked to the effects of the US administration’s tariff policies, which have thrown a wrench into the usual flow of cross-border trade and production. Mexico’s statistics office has revealed that Ciudad Juárez has seen a loss of 14,000 jobs in the first half of this year, with the electronics, metal processing and auto parts sectors taking the most brutal hit. Several companies have closed their doors and auto parts manufacturer Lear Corp has moved some of its production to Honduras. Meanwhile, electronics company Lacroix is contemplating leaving the market altogether....
On Friday, October 10, the London Metal Exchange (LME) aluminium price for both cash bid and offer rose by USD 13 per tonne or 0.5 per cent and each settled at USD 2,799 per tonne and USD 2,799.5 per tonne. The LME 3-month bid price rose by USD 6.5 per tonne or 0.23 per cent and finally stood at USD 2.786.5 per tonne. Similarly, the 3-month offer price also hiked by USD 6 per tonne or 0.21 per cent to come at USD 2,787 per tonne. The upward trajectory is also seen in the December 26 bid and offer price when both went up by USD 3 per tonne or 0.1 per cent to finally reach USD 2,810 per tonne and USD 2,815 per tonne, respectively. To know more about the global primary aluminium industry 2025 outlook, read “ Global Aluminium Industry Outlook 2025 ” LME 3-month Asian Reference Price on...
Price, policy, and projects – the three Ps - have defined the pulse of the global upstream aluminium industry this week. The sector has been abuzz with record-high prices on the London Metal Exchange, strategic investments in bauxite projects, and reports of a potential full-scale restart of a major US-based smelter. Adding to the flurry, strategic acquisition involving a Brazil-headquartered firm has further intensified the global dynamics of the upstream industry. Meanwhile, renewed discussions among world leaders on bilateral trade measures like tariffs and free trade agreement have made this week the most consequential for the industry. Upstream Weekly by AL Circle Pvt Ltd Price & production On Thursday, October 9, the LME aluminium benchmark price hit a record-high of the year,...
