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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Aluminum producers sometimes say their product is really molten electricity, not metal. The industry witticism reflects the fact that energy accounts for one-third or more of a smelter’s production costs, and it helps explain why one producer is asking the Missouri Public Service Commission for a 25 percent cut in its electricity rate. Noranda Aluminum, which operates a smelter at New Madrid in southeast Missouri, is by far the state’s largest buyer of electricity. Its power appetite is roughly equal to the entire city of Springfield, Mo. Noranda already pays less than any other customer of Ameren, its electricity supplier. It has managed to hold its rate increases to 13 percent since 2002, while residential rates have risen 49 percent. Noranda certainly deserves a discount for buying in...
Vnesheconombank, or VEB, the state development bank of Russia, is planning to participate in government state stock of aluminium creation, reported the news agency Interfax news agency. Russia's aluminium giant Rusal is presently in a loss making stage. It has supported the creation of such fund since the last year, as the company has suffered loses due to weak aluminium prices and has to pay a net debt of around $10 billion. Rusal has offered to purchase 1 million tonnes of aluminium at a price of $1.7 billion at current prices for the stock. "This issue is being discussed," Dmitriev told reporters in Moscow on Thursday, in response to a question on whether the creation of the fund had been being discussed and whether VEB might be involved in it. The aluminium stock creation has been a...
The World Bureau of Metal Statistics came out with the report on metals. The report showed that the calculated market surplus for primary aluminium for January to December 2013 was 1.102 million tonnes, which follows a surplus of 349000 tonnes recorded for the whole of 2012. Demand for primary aluminium in January to December 2013 was 46.91 million tonnes 917000 tonnes more than the equivalent total in 2012. Refined Aluminium Production in January to December 2013 rose by 1.669 million tonnes from the same period in 2012. Total reported stocks fell by 82000 tonnes during December and at the end of the month were 7.15 million tonnes, which equated to 56 days demand and compares with 7.361 million tonnes at the end of 2012. Total stocks held in the four exchanges in London, Shanghai, USA...
Tony Abbott has said the closure of Alcoa’s Port Henry aluminium smelter was a result of “the carbon tax doing its job”, despite the company having explicitly stated the carbon tax was “not a factor” in its decision to shut. In a press conference to announce the purchase of new military aircraft, the prime minister said: “We are all mourning the close-down of the Alcoa plant at Port Henry near Geelong, but I regret to say that is the carbon tax doing its job. It’s not the only factor in the closure, don’t get me wrong, but the whole point of the carbon tax is to stop operations like that and under the former government’s own modeling there was going to be a 60% plus reduction in aluminium manufacture here in Australia. “If you are serious about protecting jobs in manufacturing let’s get...
United Company Rusal, the world's largest producer of the metal, will seek court permission next week for the review, in hopes of quashing LME moves that may undermine the price at which it sells its products. The Hong Kong-listed company argues that the LME actions will harm its economic interests and that there were flaws in the consultation and inquiry process adopted by the exchange. "Rusal is seeking to protect its financial position," said Igor Lebedinets, an analyst at VTB Capital in Moscow. If the review goes ahead and finds in Rusal's favour, the world's largest marketplace for base metals could be forced to repeat a months-long consultation that split its stakeholders, pitting warehouse owners against industrial companies. "Normally a judicial review is about a decision-making...
Despite a loss of $40.3 million the previous year, Century Aluminum still has hopes of reopening its Ravenswood smelter, said the company in a financial statement. Century Aluminum lost a sum of $9.7 million in the last 3 months of 2013, according to the financial statement released. The statement also talked about the company paying $8.4 million to its last chief executive officer, Logan Kruger. The company lost around $6.9 million during 2012’s fourth quarter. "We remain absolutely and resolutely committed to reopening our smelter at Ravenswood, West Virginia, and are working hard on a number of processes to this end," Century stated in its annual report. Randy Moore, sub-district director for the United Steelworkers of America in West Virginia, said, "That is what they keep telling us....
Century Aluminum Company reported a net loss of $9.7 million ($0.11 per basic and diluted common share) for the fourth quarter of 2013. Cost of sales for the quarter included a benefit of $16.6 million related to deferred power contract liability amortization and a $9.0 million benefit related to lower of cost or market inventory adjustments. The financial results also included an $8.4 million charge relating to the separation of our former chief executive officer. For the fourth quarter of 2012, the company reported a net loss of $6.9 million ($0.08 per basic and diluted common share). For 2013, the company reported a net loss of $40.3 million ($0.45 per basic and diluted common share). Financial results were positively impacted by a $31.0 million benefit for deferred power contract...
Azerbaijan has plans of increasing their total aluminium production from 2015, taking it to around 100,000 tonnes in 2016 after the capacity expansion of a state-owned plant, the head of this plant said. Aluminium production in Azerbaijan was around 54,000 tonnes in 2013, 98% of it had been exported, Jamil Safarov told Reuters. He also added that Iran, China, and Turkey were the main importers of aluminium from Azerbaijan. Det Al Aluminium has managed the aluminium plant in Gyanja town since 2009. "Construction works aimed at expansion of the plant are expected to be started in March and to be completed by mid 2015," Safarov said. "It will allow (us) to increase production next year and to double it from this year's level to 100,000 tonnes." Safarov said the company was unaffected by low...
Origin Energy Ltd, Australia's biggest energy retailer, expects little impact on power demand from a string of closures of car plants and an aluminium smelter, as new gas liquefaction plants would take up the slack. Only if newer, larger aluminium smelters were shut would there be a big hit to power demand, Chief Executive Grant King said at a news conference on Thursday after the company reported a 5 percent rise in first-half underlying profit. U.S. aluminium giant Alcoa Inc announced this week it was going to close its Point Henry smelter and two rolling mills in August, following plans by car makers Toyota Motor Corp , General Motors Co and Ford Motor Co to close their Australian plants by 2017. King said liquefied natural gas plants in the state of Queensland, due to launch...
United Co. Rusal, the largest aluminium producer in the world, plans to cut down output to a minimum in the coming eight years as it will be shutting down inefficient smelters. It is expected production will be around 3.5 million metric tons in 2014, the company said on Tuesday to the Hong Kong stock exchange, down by 10% output in 2013. Rising electricity costs as well as low aluminium prices are disappointing producers and a cut down of 3 million tons of aluminium capacity by 2015, Bloomberg Industries said. Alcoa Inc., the largest aluminum producer in U.S, said it had close down a smelter as well as mills in Australia in order to cut down the annual capacity by 5% to 3.8 million tons. Aluminum prices went up for a fifth time in 6 days after Rusal and Alcoa’s statements. Aluminum for...
Century Aluminum has been given an average recommendation of “Hold” by the ten ratings firms that are currently covering the company, AnalystRatingsNetwork.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.79. CENX has been the subject of a number of recent research reports. Analysts at Cowen and Company downgraded shares of Century Aluminum from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 5th. They now have a $9.00 price target on the stock, down previously from $10.00. They noted that...
The Missouri Department of Economic Development recently honored Noranda Aluminum with the Flag of Freedom award. The award is recognition for the company for participating in Show-Me Heroes program and also hiring veterans, who make up for 20% of the workforce of the aluminum smelter. "Noranda makes it a priority to hire veterans," said Noranda Aluminum Plant Manager Frank Davis. "We are proud to employ so many hard-working veterans who bravely served our country." The Show-Me Heroes program offers the military veterans job opportunities when they return home from their service. This program is administered by Missouri Division of Workforce Development and showcases Missouri businesses who hire veterans. Employers who participated in the Show-Me Heroes program had to sign a pledge to...
As one of the important Aluminium producers in the Persian Gulf region and a pioneer in this industry, Iran is considered to be a strategic point for production. Iranian Mines & Mining Industries Development Renovation Organization (IMIDRO) said that the country produced 292702 tons of Aluminium ingots in the first ten month of the current Iranian year (started March 21, 2013). The figure shows an increase of 4 percent compared to the corresponding output of last year, which was 281444 tons. Iranian Aluminium Co (IRALCO), Almahdi and Hormozal with 149011 tons, 87006 tons and 56685 tons of output respectively were the three top Aluminium producers of the country during this period. Considering the major role Aluminium plays in the local industry, Iran International Aluminium Conference...
Aluminium producers will have a tough time in near future as there is a huge stock of unused metal in the warehouses keeping the price of aluminium low, the marketing chief of BHP Billiton said. The LME has approved the storage of above 5 million tonnes of aluminium in warehouses. The shutdown of smelters and aluminium locked up in various financing deals have squeezed aluminium availability in the spot market. This has pushed the premiums to release aluminium from the storage to around record levels. This effect has been balanced partially by weaker benchmark prices on LME and has been the only relief to producers said President of Health and Safety, BHP Billiton, Marketing and Technology, Mike Henry. "While you have a small increase in overall prices it hasn't really been substantial...
Romania’s aluminum producer Alro Slatina reported for 2013 a preliminary adjusted net loss on RON 78 million (some EUR 17.6 million), compared to an adjusted net profit of RON 123 million (EUR 27.6 million) in 2012. It also reported sales of RON 2.02 billion (EUR 458 million) in 2013. The company recorded a negative Earnings before interest and taxes (EBIT) of RON 21 million (EUR 4.7 million), compared to a positive EBIT of RON 286 million (EUR 64.2 million) in 2012. In a recent release, Alro says that “the company reported for 2013 a preliminary net loss of RON 76 million, compared to a loss of RON 155 million (restated) reported in 2012. Due to the high volatility of the derivatives embedded in the energy supply contract, starting Q1 2013 the company’s management decided to consider the...
The AWU says they have got into a workplace agreement with Rio Tinto and it shows how the union of the both is “able to move with the times”. The agreement was made after years of hostilities between these two leading parties over conditions at the Bell Bay aluminium smelter of Rio. The agreement has been approved by a ballot of workers and both the union and miner have lauded as flexible in light of a recent downturn in the aluminium market. The AWU had said earlier workers at the plant were receiving less wages compared to their mainland counterparts and mounted a sustained attack on the multinational miner. However, the national secretary of AWU, Paul Howes said there has been a decrease in guaranteed wage increase. Under the deal, workers will still have common law contracts focused...
Sadly in the past few years when Bell Bay Aluminium has featured on the program it’s been about struggles with worldwide costs, a high Australian dollar and jobs losses. They’ve all been attempts to try and cut costs and keep the doors of the biggest employer in the region open. This week the news was more positive with the announcement of a multi-million dollar boost to its operations and the operations of a local business. Not only was Bell Bay Aluminium able to source essential smelter equipment from a local provider for the same price as a Chinese supplier, it will result in double the aluminium production for the same electricity costs. At the local family-run business CPT Engineering it will mean more workers and a market advantage to offer its services worldwide. Bell Bay's Ray...
Public Power Corporation (PPC) said an Athens Single-Membered Court of First Instance has rejected an appeal filed by Aluminium SA regarding unlawful state aid totalling 17.4m euros, plus interest, that it received. The court's ruling was based on a relevant decision of the European Commission (EC). It also rejected an application for the suspension of a payment order issued to Aluminium SA by PPC. Despite the earlier decision by the EC, Aluminium SA has not paid the relevant amount, which compelled PPC to pursue legal action. In view of the non-recovery of the money from Aluminium SA, the EC has begun proceedings against the Hellenic Republic in the European Court.
