Emirates Global Aluminium (EGA) has been named a strategic partner of Dubai Future Week 2026, highlighting the aluminium producer's focus on industrial innovation, artificial intelligence and advanced manufacturing as the UAE looks to strengthen its future industrial capabilities. Organised by the Dubai Future Foundation (DFF), Dubai Future Week will take place from November 18 to 21, 2026, at Emirates Towers and the Museum of the Future under the theme 'For the Human of the Future'. The event is expected to attract more than 10,000 participants, including business leaders, policymakers, investors, entrepreneurs, innovators and technology experts from around the world. EGA's participation will bring attention to its ongoing industrial transformation, which includes developing proprietary...
Hindalco Industries reported its highest-ever quarterly net profit of INR 75.33 billion (USD 802 million) in the second quarter of FY2027, up 59 per cent from INR 47.41 billion (USD 505 million) a year earlier, supported by stronger earnings across its aluminium, copper and Novelis businesses. Consolidated revenue from operations rose 39 per cent year on year to INR 917 billion (USD 9.8 billion) in the quarter ended September 30, 2026. EBITDA increased 42 per cent to INR 137.6 billion (USD 1.5 billion), compared with INR 97 billion (USD 1 billion) in Q2 FY2026. The company’s aluminium upstream business rose 55 per cent to INR 70 billion (USD 745 million) in quarterly EBITDA. Earnings from non-LME-linked businesses rose 50 per cent to INR 68.6 billion (USD 731 million). Copper also...
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Thousands of protesters, who are members of the Nigeria Labour Congress, on Monday protested the shutdown of Aluminium Smelter Company of Nigeria plant in the Ikot Abasi, Ikot Abasi Local Government Area, Akwa Ibom State. The protesters, who blamed the organisation’s Russian management for the development, staged their protests on major streets in Uyo before moving down to the Government House. They said ALSCON’s shutdown was an act of economic sabotage by the management of the organisation. Chairman of the state NLC, Mr. Uyime Usoro, said shutting down the only smelting plant in West Africa was an act of economic sabotage as it was accompanied by massive retrenchment of workers. He lamented that the privatisation process of ALSCON had defeated the employment generation initiative of the...
Turkish metal products manufacturer Sahinler is interested in buying out the complete annual production of Montenegro's bankrupt aluminium firm KAP and could become a partner of Niksic-based Uniprom – the sole bidder for KAP's assets, Portalanalitika.me informed on March 28, quoting a report of broadcaster TVCG. The statement was made by Sahinler's executive manager Osman Sahin who held talks with Montenegrin economy minister Vladimir Kavaric together with Uniprom's owner Veselin Pejovic. Sahin said that in several years KAP could employ as many as 10,000 workers. He explained his company has two aluminium plants in Istanbul and Ankara and owns a port in the city of Bursa, as well as ships. The company has an annual turnover of more than EUR 1bn and a 40-year experience in the production...
Alcoa will maintain 750 jobs at its Massena West plant and train workers for high-demand, technical jobs under a deal announced Monday afternoon by Alcoa, Gov. Andrew M. Cuomo and the New York Power Authority. The 750 jobs are down from the 900 agreed upon in 2008 that would allow the aluminum manufacturer to continue to receive low-cost power from the New York Power Authority. Also as part of the agreement, NYPA will temporarily reduce Alcoa’s hydropower supply contract of 478 megawatts while supplying enough energy to support operations at the West plant. The new agreement supplements a previous agreement that was reached in 2009 and amended in 2011. NYPA also is waiving two utility charges on Alcoa’s monthly power bills to “support the viability of the company’s Massena operations...
Aluminium Bahrain B.S.C. (Alba)’s support towards encouraging cultural diversity in the Kingdom of Bahrain was reflected through its sponsorship of the Spring of Culture Festival 2014, which is ongoing during the months of March and April, 2014. Alba’s Chief Financial Officer, Ali Al Baqali and Acting Manager for Human Resources, Hamad Alshaibeh presented the cheque to the Executive Director, Corporate Services – EDB, Hayam AlAwadhi and Event Manager, Aseel Alshafeie. Commenting on the sponsorship of the Spring of Culture Festival 2014, Alba’s Chief Financial Officer, Ali Al Baqali said: “The Spring of Culture provides a wonderful opportunity to showcase Bahrain as an attractive tourist destination. Alba’s support for this event is not only a demonstration of our corporate social...
Aluminium prices fell 0.19 per cent to INR 103 per kg in futures trading today as speculators reduced exposure amid weak global trend. At the Multi Commodity Exchange, aluminium for delivery in March declined by 20 paise, or 0.19 per cent, to INR 103 per kg in business turnover of 17 lots. Similarly, the metal for delivery in the April contract traded lower by 15 paise, or 0.14 per cent, to INR 104.40 per kg in 74 lots. Analysts said speculators offloaded their positions in tandem with a weakness in metal at the London Metal Exchange and subdued domestic demand, mainly influenced aluminium prices at futures trade.
According to report of International Aluminum Institute (IAI), the global unwrought aluminum inventory in February totaled 1.17 million tons, which is lower than the revised 1.19 million tons in January. The figures were 1.28 million tons in the same month of 2013. Besides, all kinds of aluminum stocks were 2.19 million tons in February compared to 2.33 million tons in the same month of last year.
Aluminum: Monday’s review report is an excerpt from our weekly metals report. As of Friday close aluminum’s 3 month rolling forward contract ended the week at $1758, up by more than $20+ from its previous week’s close. At the MCX platform, the April futures contract ended the week at 104 from its previous week’s close. Aluminum and other metals have also moved higher during the week, except for Nickel. The LME index has also traded higher by 1%. During the week, we saw most of the asset classes outperforming, except in the US. The Asian markets have traded on a positive note followed by Europe while only the US markets have declined slightly, which might have supported the metal to trade on a positive note. From the inventory front as of Friday, there has been a decline of 27775 tons week...
The application of energy-saving dosing furnaces in aluminium foundries is best available technology today. Foseco is now able to supply a new, multi-part and highly insulating lining made of INSURAL, which is delivered ready to install and provides a high longevity. Installation of a new INSURAL lining can be done in 3 to 4 days with no ongoing hydrogen issues. While linings cast in situ have to be dried for several weeks before all the combined water is removed. Through the low wettability of INSURAL, the furnace cavity is easy to clean and the liquid metal is protected against unwanted impurities. In addition, due to the dry installation no sintering process is necessary and the good insulation properties lead to energy savings up to 17 %. Additional benefits are the extreme low...
Shipments of rolled-aluminum products by Japanese fabricators to domestic and overseas markets may increase to the highest level in four years as a weaker yen boosts exports, an industry group said. Shipments for the year beginning April 1 are expected to climb to 2 million metric tons, the largest volume since the year ended March 2011, the Japan Aluminium Association said in a report today. It will mark the second straight year of increase. The expansion will be led by a 23 percent increase in exports of flat-rolled products as a weak yen boosts the competitiveness of Japanese fabricators in markets such as China and Southeast Asia, it said. The yen has weakened 7.8 percent in the past year against the dollar. Aluminum for three-month delivery on the London Metal Exchange has dropped...
The aluminum industry plans to cut output again this year as producers seek to reduce excess capacity amid falling prices. United Co. Rusal PLC on Friday shelved plans to build a high-tech smelter in Siberia that would have created 3,000 jobs and been one of the company's key assets in the region. The world's largest aluminum producer said it would put on hold its Taishet smelter in Siberia's Irukutsh area, with an annual capacity of 750,000 metric tons, citing unfavorable market conditions and an effort to rationalize capacity. The Russian company also reported that its net loss for last year deepened to $3.2 billion. That included $1.92 billion in impairment and restructuring charges, in part related to the Taishet project. Rusal reported a net loss of $528 million in 2012. The company...
Alcoa disappointed traders with its fourth-quarter results but the share price has more than recovered as it prepares to reveal its first-quarter earnings on 8 April 2014. Alcoa is trading at $11.85, up nearly 11% since the company revealed worse-than-expected fourth-quarter earnings in January 2014. The Aluminium producer reported fourth-quarter earnings per share of 4 cents and revenue of $5.59 billion, while the market consensus was for 11 cents and $5.39 billion respectively. Its fourth-quarter revenue was below the third-quarter figure of $5.77 billion. Alcoa is trying to start afresh in 2014; it has put the bribery charges behind it and has incurred a number of write-downs over the years in relation to asset valuations. Like other companies in the mineral sector, it is adjusting to...
State Enterprises Minister Dahlan Iskan has named former director of PT Aneka Tambang as the president director of PT Indonesia Asahan Aluminium (Inalum). "Winardi was confirmed as the new president director of PT Inalum in a shareholders meeting several days ago. The post transfer will be done on Friday or Saturday," Dahlan clarified after a leadership meeting at PT Kliring Berjangka Indonesia here on Thursday. Dahlan noted that Winardi was not a new comer at a state-owned company as he used to be Operations Director of PT Aneka Tambang (Antam). He explained that Winardi was a great person as shown by his success in bringing PT Aneka Tambang to be among top state-owned companies. "He is a graduate of the Bandung Institute of Technology and one of the strong candidates for Antam president...
Prices of aluminium and other non-ferrous metals will remain low in near-term due to the muted demand on the back of uncertain macro-economic environment prevailing globally, ICRA said. "While prospects for the western economies have improved, concerns regarding slower growth of Chinese economy, largest consumer of base metals, have affected sentiments, leading to subdued price levels at the London Metal Exchange (LME)," ICRA's Senior Vice-President Jayanta Roy said in a release. Quite similar to the above would be the Indian story as well. The prices of base metal in India are influenced by import-parity prices. The movement of Indian rupee against US dollar would have a critical impact on the domestic prices in the coming weeks. According to Mr. Jayanta, though aluminium has a better...
The London Metal Exchange has been forced put on hold a new rule to tackle the long warehouse queues that US politicians and aluminium buyers blame for increasing the price of everything from drink cans to car bodies. Queues of more than 500 days to take delivery of aluminium from LME warehouses became the focus of a furious debate last year, triggering a series of complaints by metal users, criticism by senators and investigations by US regulators. MillerCoors, the brewer, claimed at a Senate hearing that the logjams at LME-registered warehouses owned by Goldman Sachs, Glencore Xstrata and other companies inflated global aluminium costs by billions of dollars – allegations that were fiercely disputed. Warehouse owners profit from long queues because they earn rent. Owners of the metal...
Chinese smelters are under “unprecedented” pressures, as about half of them are losing money due to ailing aluminium prices, Goldman Sachs said in its latest research note. "Following the recent Chinese domestic price declines, we estimate that 50%, or 11-12 million tonnes of Chinese output, is losing money on a cash cost basis, equal to almost 25% of world total supply. Of this, we estimate that all Chinese grid-based power producers - accounting for 25%-30% of Chinese supply - are losing cash at present," it said. So far this year, Chinese domestic aluminium prices have fallen by 10%, to their lowest levels in more than 16 years, which reflects "a dramatic ramp-up in low-cost smelter capacity in North and North Western China and a lack of closures of high-cost Chinese capacity outside...
The Odisha government is taking steps to sign a fresh Memorandum of Understanding (MoU) with Sesa Sterlite Ltd, after the merger of Vedanta Aluminium Ltd (VAL) with it. The move comes after the state law department advised the industries department to substitute the earlier MoU with a fresh one mentioning the new entity. “Kindly furnish the draft MoU to be signed between¬ industries department and M/ s Sesa Sterlite Ltd as advised by the law department in substituting the earlier MoU signed between the industries department with M/s Vedanta Aluminium Ltd on the wake of amalgamation of VAL with M/s Sesa Sterlite,” said S C Nayak, additional secretary with the industries department in a letter to Industrial Promotion And Investment Corporation Of Odisha Limited (IPICOL). Though the decision...
Novelis Inc. President and Chief Executive Officer Phil Martens issued the following statement today in response to Thursday's ruling by the UK High Court regarding planned changes to aluminum warehousing rules by the London Metal Exchange (LME): "We are very disappointed with the outcome of the legal process in the UK," said Martens. "We have worked closely with the LME and other stakeholders for two-and-a-half years to push for changes. Unfortunately, Rusal's unilateral action resulting in this court decision will stifle the LME's proposal to alleviate the unprecedented backlog at LME warehouses and will be very destructive to the market. "It is indefensible that queues of more than a year exist at warehouses and unconscionable that players in the aluminum market are actively working to...
Alcoa today announced it will curtail 147,000 metric tons of smelting capacity at its São Luís (Alumar) and Poços de Caldas smelters in Brazil due to challenging global market conditions in primary aluminum and increased costs that have made the smelters uncompetitive. The curtailments are expected to be complete by the end of May 2014. In 2013, the Company curtailed 34,000 metric tons at Poços and 97,000 metric tons at São Luís. The new curtailments will include the remaining 62,000 metric tons of capacity from the Poços smelter, resulting in a full curtailment of its three potlines. Another 85,000 metric tons will be curtailed at São Luís. “Across the globe, we are taking measures to curtail high-cost smelting capacity that is not competitive and reshape our cost profile,” said Bob...
