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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Aluminium prices today rose by 0.33 per cent to INR 105.60 per kg in futures trade mostly in line with a firming trend in the global markets. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, Aluminium for delivery in February rose by 35 paise, or 0.33 per cent to INR 105.60 per kg in a turnover of 124 lots. The metal for delivery in March rose by a similar margin to trade at INR 107.10 per kg in a business volume of 7 lots. Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in the global markets on output concerns after Alcoa Inc said it will close a smelter and United Co Rusal, the world's largest producer of the metal. Globally, aluminium contract for delivery in three...
Rising 2.2 percent to close, the cash price of primary Indian aluminum experienced the biggest change for Monday, February 17. On the LME, the primary aluminum cash price inched up 1.5 percent to $1,710 per metric ton. On the LME, the aluminum 3-month price increased 1.2 percent to $1,750 per metric ton. Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price rose 1.1 percent last Friday, just off the 30-day low it hit on Wednesday, February 12. The price of Chinese aluminum scrap was unchanged. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row. The price of Chinese aluminum bar remained essentially flat. http://agmetalminer.com/2014/02/17/cash-price-of-primary-indian-aluminum-rises-2-2/
Alcoa announced today that Chairman and Chief Executive Officer Klaus Kleinfeld will present at the BMO Capital Markets 23rd Global Metals & Mining Conference in Hollywood, Florida, on Monday, February 24, at 11:00 a.m. EST. Mr. Kleinfeld will discuss Alcoa's repositioning strategy to build out the Company's value-add businesses and capture demand in growing markets, while lowering the cost base of the Company's commodity business to improve profitability. The presentation and live audio webcast will be available at www.alcoa.com/bmo. Following the conference, the archived webcast will be available for replay on the same website.
China Aluminum International Engineering Corp. (CHALIECO) is planning to sale dollar perpetual bonds as the interest premium investors demand for U.S. currency debt in Asia drops to minimum within a month. CHALIECO, a unit of CHINALCO has engaged Morgan Stanley and CLSA for the task who will arrange a series of meetings in Singapore and Hong Kong for fixed-income investors, a source said. Chinese companies are venturing into dollar bond market as onshore interest rate remains high, averaging 6.18 percent this year compared with 5.10 percent during the whole year 2013, according to a data collected by Bloomberg. According to Mark Reade, a Hong Kong-based analyst at Mizuho Securities Asia Ltd said, “Any improvement in onshore liquidity is beneficial for China’s U.S. dollar spreads because...
Dubai Aluminium (Dubal) reported a 13 % yearly increase in their net profit to Dh1.79 billion as technological innovations have lowered manufacturing costs. “Dubal remains one of the most profitable corporations in the Emirate of Dubai,” said Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, UAE Minister of Finance and the chairman of Dubal. Despite the revenue falling about 3% to Dh9.5bn last year, the significant cost reductions were followed by adoption of “DX technology”. This technology allows the production of aluminium using smaller amounts of electricity. The production of company was over 1 million tonnes last year. Improvement in safety was witnessed, as injuries reduced by 39% compared to the last 3 years, according to Dubal. Emirates Aluminium (Emal), a joint venture between...
Supported by a firming trend overseas and domestic demand, aluminium futures prices today edged higher by 0.57 per cent to INR 106.55 per kg as speculators created positions. At the Multi Commodity Exchange, aluminium for delivery in February traded up by 60 paise, or 0.57 per cent, to INR 106.55 per kg in business turnover of 87 lots. Similarly, the metal for delivery in March traded higher by 60 paise, or 0.56 per cent, to INR 108.10 per kg in five lots. Market analysts said reports of a firming trend in base metals at the London Metal Exchange after a report showed that China's new credit increased to a record last month, boosting demand prospects for industrial metals from the world's top consumer and rising spot demand, helped aluminium prices to rise at futures trade here.
Alcoa today announced it will permanently close its Point Henry aluminum smelter and two rolling mills in Australia. The smelter and an adjacent rolling mill are located in Geelong, Victoria. The second mill and a recycling facility are located in Yennora, New South Wales. The smelter will close in August and the rolling mills by the end of 2014. The Point Henry smelter was placed under strategic review in February 2012 due to challenging market conditions. A comprehensive review found that the 50-year-old smelter has no prospect of becoming financially viable. The two rolling mills serve the domestic and Asian can sheet markets which have been impacted by excess capacity. Alcoa of Australia operates the smelter where approximately 500 employees work. Alcoa Inc. operates the rolling mills...
Rio Tinto, International mining giant, the ultimate owner of the Tiwai Pt smelter near Bluff, said the outlook for aluminium was positive despite a 9% fall in spot prices over the year 2013. The aluminium division of Rio- Rio Tinto Alcan, reported last week underlying earnings of around US$557 million for 2013 - US$503 million higher than in 2012 - and there has been an improvement in the margin. "Market premia on aluminium shipments have continued to perform strongly during 2013," it said. The managing director of Salt Funds Management, Matthew Goodson said Rio Tinto's view on aluminium showed the market may be bad than the worst. "And that of course has major implications for New Zealand because of the major swing factor that it has on electricity demand," Goodson said. Tiwai is the...
Alcoa says no decision has been made to shut its aluminium smelter at Geelong, and will tell employees if the Point Henry plant will continue to operate by the end of March. A cloud hangs over the smelter's future, with $40 million of government assistance granted by the federal and Victorian governments in 2012 running out at the end of June. Alcoa in January said the company would not be seeking further government assistance for the smelter, which employs around 500 full-time employees. A caller to 3AW radio on Monday said that an announcement on the smelter's future could be made as soon as Tuesday. But an Alcoa spokeswoman said its fate had not been decided. Advertisement "At this stage no decision has been made and we remain committed to getting back to our employees by [the] end of...
UAE’s aluminium sector’s experts will address business leaders, scientists and engineers from all over the world at one of the leading industry events, the TMS Annual Meeting and Exhibition, which started on Feb 16 in the US. The TMS 2014 will be held in San Diego, California till February 20. The exhibition aims at bringing expert people from metals, minerals and materials sector to exchange their knowledge in technology and science. The representatives of Emirates Aluminium (Emal) and Dubai Aluminium (Dubal) presented five papers at TMS conference. DX Reduction Cell Technology was developed by the Dubal, which offers productivity as well as environmental performance, is also used by Emal to produce the aluminium. The technology operates at high amperage and enables the metal to be...
After seven-eight years of acute oversupply, the world aluminium market is now undergoing a structural change from surplus to deficit. An extended period of overcapacity has been a feature of the world aluminium market for some time now. No doubt, producers in the western world have cut back output but their efforts have been largely neutralised by new capacity additions in China and West Asia. The result has been sustained downward pressure on aluminium prices. No wonder, LME prices have continued to remain in a narrow range of $1,700-1,900 a tonne. With long waiting time or queue at LME warehouses, producers were compensated, albeit partially, by the rise in aluminium premiums; but that too is beginning to decline with the LME proposing new rules of warehousing and delivery scheduled to...
Calderys, a world leader in Refractory Solutions and a subsidiary of Imerys, announces that it acquired Termorak Group, a company specialized in Refractory Services (including lining design, refractory material sourcing, as well as installation work and inspections). With € 17.2 million revenue in 2012, Termorak is based in Finland, Sweden and Thailand. Through the acquisition of Termorak, Calderys expands its position in the Petrochemical and Pulp & Paper Industries, as well as in the Power business in Finland, Russia, the Baltic countries and in South-East Asia. Mr. Markus Larkimo, Managing Director of Calderys Finland OY states: "Calderys has been present in the Finnish market for over 80 years of service to the iron and steel, ferrous foundry, and boiler industries. Termorak’s...
Aluminum Corporation Of China Limited (Chalco) has issued CNY 3 billion 270-day fixed-rate unsecured bills on interbank market. This is the company's first issuance of super and short-term commercial papers in 2014. Financing will be used to repay bank loans, replenish working capital and lower financing costs.
A bid by the London Metal Exchange (LME) to ensure clients can obtain aluminium faster from owners of warehouses in its global network risks eroding its function as the world's top metals marketplace. Some warehouse companies are starting to walk away. Industry leaders and analysts say shed owners, who profit from keeping aluminium stockpiles in long-term financing deals or to earn rent, are preparing to move metal to depots that are beyond LME supervision. This could mean the LME, bought by Hong Kong Exchanges and Clearing (0388.HK) in 2012, will lose its unique grasp on the location and quantity of stored aluminium, which lends transparency to the market. Less metal will also be available to industrial companies that have bought LME warrants - quality-assured ownership certificates -...
Noranda Aluminum has requested the Missouri Public Service Commission (PSC) for a rate design change that would reduce electricity costs at its aluminum smelter in New Madrid, Missouri, US. Supported by testimony of the United Steelworkers Union, community organizations, legislators, Missouri Retailers Association, and the Missouri Industrial Energy Consumers, the filing requests an initial rate of $30/MWh for New Madrid. Noranda Aluminum chief executive officer and president Layle Smith said, "New Madrid should have competitive power rates to remain sustainable in today's aluminum price environment." "Noranda respects the Commission's process and seeks to actively participate in this process and to engage in a constructive dialogue with all stakeholders," Smith added. Under the proposed...
Svein Richard Brandtzaeg , Chief executive of Norsk Hydro, said to Reuters that aluminium’s overall price, including delivery premium paid to producers, is expected to rise in the year 2014 as demand of the metal growth outpaces production. "Demand will exceed production, so there is reason to believe we'll see an improvement in the all-in metal price," Brandtzaeg said. "It's difficult to say if this will come as part of the market price or on the ingot premium." Currently the price of aluminium trades at multi-year lows above $1,700 per tonne while there is a rise in the price of delivery premiums. It is expected that the prices will be t $450 dollars per tonne in the United States and at $350 in the EU during 2014 end, Hydro said.
A lot of remarkable figures and things have been noticed in 2013 results of Rio Tinto. The company made a profit of $US10.2 billion beat market consensus comfortably. The turnaround in aluminium business was the most remarkable thing. The breakdown of the company’s profit in 2013 shows their net earnings from aluminium have gone up from miserable $US54m in the year 2012 to $US557m. This could be achieved as a result of the production cutback strategies that Rio as well as the other industry leaders has adapted. Rio has worked very hard at cutting down costs. The company reckons that earnings on aluminium increased by $US392m from their cash cost improvements. It has been quite painful for the company to bring the aluminium figures back to shape, with Rio selling, closing or curtailing...
Hindalco Industries' net profit for the third quarter ended December was INR 334 crore, down 23% compared with INR 434 crore a year ago, hurt by weak demand for aluminium and higher taxes. Analysts were expecting a standalone net profit of INR 364 crore, according to a poll conducted by Bloomberg. Net sales of the company, controlled by industrialist Kumar Mangalam Birla, rose 6% to INR 7,273 crore, helped by higher volumes. Bloomberg poll had forecasted it at INR 6,904 crore. Aluminium revenue jumped 11.5% to INR 2,471 crore from a year-ago quarter, while copper business revenue inched up 3% to INR 4,817 crore. Earnings before interest, taxes, depreciation, and amortisation for alumium business fell 18% to INR 170 crore, while profit in the copper business soared 33% to INR 300 crore....
