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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Following the weak signals from global markets, the price of aluminum came down 0.37% to a trading rate of INR 107 per kg today as the speculators unloaded their positions. Further, slow demand of aluminum in the domestic spot markets also resulted in the fall of metal prices. At the Multi Commodity Exchange, the price of aluminum for delivery declined by 40 paise or 0.37% in March, to INR 107 per kg in the business turnover of around 291 lots. In the month of April, aluminum for delivery also came down to a similar margin to a price of INR 108.45 per kg in total turnover of 14 lots. The market analysts are of the view that weak prices of aluminum at the futures trade was at par with the downtrend in price of base metals at LME.
Indian diversified miner Vedanta Resources has appointed former Rio Tinto ceo Tom Albanese as its new chief executive Albanese left Rio at the beginning of 2013 after a tough year for the company in 2012, in which it reported $14 billion of writedowns. He will take over as ceo of Vedanta and join the Vedanta board from April 1, the company said, succeeding MS Mehta, who is retiring at the end of March. Albanese has been working with Vedanta since September last year as chairman of subsidiary Vedanta Resources Holdings Ltd. Vedanta has said it also plans to recommend to the Sesa Sterlite Ltd board the appointment of Albanese as ceo of that company, after the end of Mehta's term. "Tom Albanese's skills and experience in leading world-class mining companies will be of great value in...
Romanian aluminum smelter, Alro SA, considered as one of the biggest primary aluminum smelters in Europe said it planned to halt some operations due to a rise in cost of power. Alro said the green certificates’ mandatory quota or carbon permits for the year 2013 was kept fixed at 0.224 green certificates/MWh by the Energy Regulatory Authority of Romania. Last year it was was 0.1188, nearly double of what it is this year.
The monthly Aluminum MMI® registered a value of 89 in March, on par with February’s value. The 3-month LME price closed the month of February at $1,765 per metric ton; a small bounce from the record lows registered at the beginning of the month. Most analysts are optimistic with the future role of aluminum in the automotive industry, expecting demand from automakers to gradually increase in the next few years. But at the same time, producers are already investing on upgrading facilities, so it is hard to estimate how exactly this will balance over time just yet. Aluminum physical premiums continue to play a big role in the total price an industrial buyer pays for its aluminum products, as prices keep weakening and premiums continue climbing. While some groups question the sustainability...
Physical prices of European Aluminium will stay high this year as financing deals squeeze the aluminium availability on the spot market, Rusal Deputy Chief Executive Oleg Mukhamedshin said on Thursday. In an interview, Mukhamedshin told Reuters that aluminium premium CIF Europe which reflects regional demand and supplywere around $350-$370 per ton. Premiums are paid over the LME cash price."You have quite a deficit of metal in the spot market, but you also have huge pressure from financial players..., so that's why you have this discrepancy," he said. Premiums in Europe as well as United States had hit the record highs, highlighting the LME’s inability to compensate a market where producers are locking aluminium as an investment because of low interest rates. According to Metal Bulletin,...
PT Indonesia Asahan Aluminium (Inalum), the aluminium producer announced that it had supplied 105 MW of electricity in North Sumatra in order to resolve the province’s recurring power outages. Sahala Sijabat, the president director of Inalum said the supply of electric power was a free contribution to resolve the region’s power crisis. He also added that Inalum had been supplying electricity to this province since Nov 28. “This is a form of our commitment to help overcome the power crisis in North Sumatra,” Sahala told The Jakarta Post on Wednesday. He said Inalum had additionally supplied 1.5 MW to state power company PLN in Porsea, Humbang Hasundutan regency. “That’s the best we could do to help. This is probably due to the good condition of our eight power generators and the high water...
Anne Lauvergeon and Simon Thompson will join the boards of Rio Tinto plc and Rio Tinto Limited as non-executive directors and both will become members of the Sustainability and Nominations Committees. Anne Lauvergeon’s appointment will take effect from 15 March 2014. She has over 30 years’ experience across a number of fields. She started her career in the steel industry and then worked in a variety of roles at leading industrial companies before serving as chief executive officer of AREVA Group, the French nuclear power company, from 1999 to 2011. Anne also spent a number of years as adviser on international economic affairs at the French Presidency and as deputy chief of staff. Simon Thompson’s appointment will take effect from 1 April 2014. He holds a degree in geology and brings a...
On Monday, March 3, the Indian aluminum cash price fell by 1.3 percent, making it the day’s biggest mover. At $1,724, the cash price of primary aluminum finished the market day on the LME up 0.5 percent per metric ton. On the LME, the 3-month price of aluminum increased 0.3 percent to $1,765 per metric ton. Chinese aluminum closed mixed yesterday. The cash price of Chinese aluminum fell to a 30-day low after shifting 0.7 percent. The price of Chinese aluminum scrap remained essentially flat. For the fifth consecutive day, the price of Chinese aluminum billet held flat. The price of Chinese aluminum bar saw little movement.
Aluminum's 3-month forward prices at the LME recovered sharply yesterday by $50 and settled at $1770. We believe that there has been no major change in the fundamentals overnight, just a mere recovery that took place in the entire complex after concerns over Russian action against Ukraine settled down. We would not like to change our bearish stance on Aluminum due to the fact that cash prices across the globe, especially in China are trading lower, which could eventually pull the price down in the near-term. Nonetheless, the LME inventory showed a good amount of fall by 6,800 while the cancelled warrants ratio remained in the negative. We would also like to reiterate that the underlying fundamentals do not change on a daily basis but that it is the market dynamics that play an important...
Chinese aluminium smelters are expected to close down nearly 2 million tons of operating capacity in the ensuing months in order to handle the losses occurring due to falling prices and declining support from government: industry sources said. The capacity cuts will control the oversupply in the Chinese aluminium market by reducing the growing stock of aluminium which has crippled the global alminium prices. Beijing has been putting up efforts to tackle the oversupply issue in aluminium and other metal segments. But, the new government of President Xi Jinping has taken up the matter on a priority basis and insisted that smelters curb capacity growth to bring back balance in the market. "I would not be surprised if one to two million tonnes of capacity will close in the first half," said...
LME aluminium is expected to retrace into a range of $1,743-$1,752 per tonne, as it failed to break a resistance at $1,771. The resistance has been established at the 76.4 percent Fibonacci retracement on the fall from the Feb. 26 high of $1,788.50 to the March 3 low of $1,715. It has apparently caused a correction towards the range formed by the 38.2 percent and the 50 percent retracements. It is hard to categorise the strong surge from $1,715, as this surge could be labelled either as a wave b or a wave C. A break above $1,771 will confirm the progress of the wave C towards $1,788.50. The views expressed are his own. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers...
Analysts at Thomson Reuters upgraded Noranda Aluminum Holding Corp. from a “sell” to a “hold” rating in their research report that they have issued for the investors and clients, reported Stock Ratings Network.com. Separately, Noranda Aluminum Holding Corp shares were downgraded by analysts at TheStreet from a “hold” to a “sell” rating in a research note. The stock have been rated by two equities analysts with a sell rating, a hold rating by six analyst and a buy rating by a single analyst. Currently Noranda Aluminum Holding Corp. has a consensus rating of “Hold” and also an average price target of about $3.29. During mid-day training, Noranda Aluminum Holding Corp. shares traded up 0.93%, hitting $4.35. The stock had a total trading volume of 373,471 shares. The corporation has a 1-year...
Aluminum was the worst performer in the Friday's trading session both globally and locally despite the US consumer confidence increased marginally and the pending home sales also showing marginal improvement even though the data was lower than the market expectations. However the stocks front aluminum witnessed decent drawdown in its inventory while cancelled warrants also increased. The aluminum stockpiles fell by 51,875 MT from 5,357,700 MT to 5311300 MT and the cancelled warrants increased by 1% from 2484600 MT to 2483300 MT in the last seven to eight trading sessions. The daily PVO table suggests volumes and open interest have increased significantly due to the contract shifting. Though PVO analysis on an aggregate basis suggests that the underperformance in the commodity might...
Aluminium Bahrain B.S.C. (Alba) demonstrated its confidence in Bahrain as an industrial and financial destination through its participation in the two-day Euromoney GCC Financial Forum held at The Ritz Carlton Bahrain, on March 4 and 5, 2014. The Euromoney GCC Financial Forum will highlight the role of financial services in the development of GCC and focus especially on Bahrain and its key sectors that have relevance for the wider region such as real estate, housing, SMEs, etc. Alba will showcase its high-grade aluminium products and provide information on Alba’s contribution to Bahrain’s economy as well as its health, safety and environmental policies and initiatives. Commenting on Alba’s participation in the Euromoney GCC Financial Forum, Alba’s Chief Financial Officer, Ali Al Baqali...
National Aluminium Company fell 2.50% to INR 33.15 at 9:19 IST on BSE after the stock turned ex-dividend today, 5 March 2014, for interim dividend of INR 1.10 per share for the year ending 31 March 2014. Meanwhile, the BSE Sensex was up 69.30 points, or 0.33%, to 21,279.03. On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 1.04 lakh shares in the past one quarter. The stock hit a high of INR 33.40 and a low of INR 33 so far during the day. The stock hit a 52-week high of INR 47.45 on 13 March 2013. The stock hit a 52-week low of INR 24.10 on 6 August 2013. The stock had underperformed the market over the past one month till 4 March 2014, rising 3.19% compared with the Sensex's 4.94% rise. The scrip had also underperformed the market in past one...
Taking weak cues from global markets, aluminium prices fell marginally to INR 108.25 per kg in futures trading today as speculators offloaded their positions. Further, sluggish demand in the domestic spot markets also weighed on the metal's prices. At the Multi Commodity Exchange, aluminium for delivery in April eased by 40 paise, or 0.33%, to INR 108.25 per kg in a business turnover of two lots. Similarly, the metal for delivery in March traded lower by 35 paise, or 0.30%, to INR 106.85 per kg in 73 lots. Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange and subdued spot demand.
Alcoa today announced that Aquilino Paolucci, Vice President of Business Development and Regional Affairs for Latin America, has been named President of Alcoa Latin America and the Caribbean (LAC), effective as of March 1. Paolucci succeeds Franklin Feder who is retiring from Alcoa effective August 1 after 23 years with the Company. In addition to overseeing Alcoa’s operations in Latin America and the Caribbean, Paolucci, 49, has also been named President of Global Primary Products (GPP) for Latin America and the Caribbean, with responsibility for all GPP operations in the region. Paolucci reports to Alcoa Chairman and CEO Klaus Kleinfeld for the regional role and to GPP Chief Operating Officer Roy Harvey for the GPP role. “Paolucci brings wide-ranging experience helping to grow...
The Aluminum Corp of China goes back into the black, with its earnings report of 2013 that showed the company made a total profit of 173 billion yuan ($28 billion) in 2013, up 16% year-on-year. The company suffered a loss of 8.2 billion yuan in the year 2012 and from there went into making a profit of 948 million yuan profit in the year 2013. The company said their total profit made in the last year can be largely attributed to their stricter management, increased capital operation and tighter control of expenditure despite the stagnant performance of the industry. According to earnings report, last year the company cut down the cost of making alumina products by 9 percent, and electrolytic aluminum products cost decreased by 5 percent. This resulted in the increase in profit which...
