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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Things are changing… “Glencore Xstrata’s Pacorini (warehousing and logistic subsidiary of Glencore Xstrata) has delisted 14 metals warehouses in the Dutch port of Vlissingen, the London Metal Exchange (LME) said on Tuesday, as storage firms get ready for big changes in the business,” reports Reuters. “The LME, the world’s largest marketplace for metals such as copper and aluminium, announced new regulations aimed at cutting wait times to access metal in warehouses following complaints, lawsuits and regulatory pressure.” “Pacorini in Vlissingen has rivalled Goldman Sachs’s Metro warehousing subsidiary in Detroit in having the longest queues for aluminium. Wait times for both still stretch for longer than a year.” “To support the mechanism of physical delivery the LME approves and licenses...
Aluminium financing deals will continue to lock up substantial amounts of metal in the London Metal Exchange system, Rio Tinto Chief Financial Officer Chris Lynch said on Thursday. Most of the roughly 5 million tonnes of aluminium in LME warehouses is locked up in financing deals. This involves an investor borrowing money at low rates to buy physical aluminium, striking a warehouse deal to store it cheaply and taking advantage of the market's contango structure to sell it forward immediately at a profit. This is partly responsible for the long wait times for metal that consumers have complained about. The LME last year announced plans to reduce queues, but financing deals remain popular.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved residual stake sale by the government in Vedanta-owned Bharat Aluminium Company (Balco). The move could fetch about Rs 3,000 crore to the exchequer at a time when the finance ministry is trying hard to contain the Centre's fiscal deficit at 4.8 per cent of gross domestic product (GDP). The finance ministry has already initiated the process of arriving at the company's valuation, a bone of contention between Vedanta and the government. Currently, London-listed Vedanta holds 51 per cent stake in Balco. In January 2012, Vedanta had proposed to acquire the government's remaining stake in the erstwhile public sector undertaking, after various legal hurdles. Vedanta's board has the approval of shareholders to offer up to Rs...
Base metals at London Metal Exchange(LME) closed with a higher rate, backed by an upbeat trade data of the top consumer China, while the market focus turned once again to controversial warehousing system of the bourse. On the closure of an open-outcry trading on Wednesday, Aluminium rose to about 1.6 %to $US1, 734 a ton. The metals took strength from trade surplus of China, which widened in January to $US31.86 billion ($A35.35 billion) from $25.6 billion in December, beating economists' median forecast of a $27.1 billion surplus. This data is alleviating the fear that the Chinese economy is slowing down and so is the consumption of industrial materials and investment in commodity. Elsewhere, the LME was back in focus after some of the aluminium industry said getting metal from some...
Aluminium Bahrain B.S.C. (Alba) released its full-year and fourth quarter of 2013 results as per the International Financial Reporting Standards (IFRS) accounting rules during a meeting of the company’s Board of Directors on Wednesday, February 12, 2014. The Full-Year 2013 results are summarized below: • Alba increases 2013 total dividend by 28% to US$ 135 million (BD 50.7 million) versus US$ 105 million (BD 39.5 million) in 2012 • Alba reports 2013 Net Income of US$ 212 million (BD 79.8 million) • Record breaking year with production reaching 912,700 metric tonnes Alba’s sales for the full-year of 2013 were US$ 1.993 billion (BD 749.3 million) versus US$ 1.978 billion (BD 743.7 million) in 2012. As for the fourth quarter of 2013, Alba’s sales totalled US$ 488 million (BD 183.4 million)...
The government's plan to sell its residual stake in Hindustan ZincBSE 0.48 % (HZL) and Bharat Aluminium Company (Balco) may be pushed to next fiscal if the mines ministry continues to dither on the processes for stake sale due to ongoing investigations . Last week, an inter-ministerial group started the process of looking for both a valuation firm and merchant bankers for stake sale process. The Cabinet has cleared the stake sale in HZL through auction route while a decision on Balco is expected soon. "The ongoing investigations by CBI and the change in AG's stand, has made the mines ministry more conservative in their approach," said a government official, aware of the deliberations . The decision to appoint valuators was taken after receiving directions from the Prime Minister's Office...
Press Metal Bhd is selling 20% of its stake in Press Metal Bintulu Sdn Bhd to Summit Global Management XII. SGM is a 70 per cent owned subsidiary of Sumitomo Corporation. Press Metal reported that the proposed sale of shares will provide an opportunity to realize the value of its investment in Press Metal Bintulu at a good valuation. The company said that the stake sale will gain about RM341.693 million for the company. The company added that the amount raised from the proposed sale will be partially used to repay short-term bank loans and to finance the compulsory early redemption of its 2011/2019 redeemable convertible secured loan stocks RCSLS. It hopes to improve its credit ratings and provide support to overall operations with the help of this disposal. The company also added that...
Premiums paid in Europe for releasing aluminium from storage have remained steady at record levels this month. Traders said they may be contained by new rules of London Metal Exchange (LME aimed at cutting wait-times aluminium. Premiums competed to record highs early in the month of February, above 30% from this year beginning, as the smelter shutdowns and financing deals squeezed the aluminium availability in the spot market. European prices for duty-paid aluminium have remained high since then, around $360 a tonne above LME cash aluminium price , although below levels in North America, where Midwest aluminium premiums rose to a record 20.5 cents/lb ($452/tonne). "Premiums rose very quickly and took a lot of people by surprise. The magnitude of the rise was very surprising. But now...
Hydro's underlying earnings before financial items and tax (EBIT) fell to NOK 483 million in the fourth quarter 2013 from NOK 659 million in the third quarter, mainly due to seasonal effects and lower hydropower production. For the full year, underlying EBIT rose to 2,737 million from 1,297 million in 2012, helped by cost savings, strong performance at the Qatalum aluminium plant combined with higher product premiums. Highlights: • Underlying EBIT NOK 483 million • USD 300-program completed, yielding NOK 1.5 billion improvements • Alunorte production rising, offset by ICMS tax charges • Primary Metal lifted by Qatalum insurance proceeds • Downstream seasonality, lower power production • Proposed 2013 dividend NOK 0.75 per share • Expect 2-4% aluminium demand growth outside China in 2014...
The Aluminum Association of Canada reported that primary aluminum production in Canada declined three-tenths of one percent in January to an annual rate of 2,901,891 metric tonnes, off 9,114 tonnes from the December rate of 2,911,005 TPY. Compared to a year ago, production was off 3.2 percent from the January 2013 rate of 2,998,181 TPY. Actual production in January totaled 246,462 metric tonnes. (The Aluminum Association's statistical programs provide industry information on primary aluminum production, new orders of mill products, industry shipments, end use market estimates, inventories, recycling and foreign trade on a monthly, quarterly and annual basis. Special surveys provide data on specific subjects such as primary capacity, flat roll capacity, inventories and castings shipments....
Aluminium Bahrain B.S.C (Alba) announced a three-year partnership renewal with Bahrain International Circuit (BIC) on Sunday, February 09, 2014. As part of the partnership, Alba will be allocated a special lounge at BIC's Oasis Complex, which will be used to host its guests for all local and international events at BIC - “The Home of Motorsport in the Middle East”. Alba will also have the opportunity to place its logo at strategic locations across the venue, thus maximising its brand presence during year-round events held at the BIC. The partnership agreement was signed between Alba’s Chief Executive Officer, Tim Murray and BIC’s Chief Executive Shaikh Salman bin Isa Al Khalifa at Alba’s Oasis Hall. Also present at the ceremony were Alba’s Chief Operations Officer, Isa Al Ansari, Acting...
Alcoa might announce the closure of its aluminium plant at Geelong soon, which may cost jobs in hundreds. This is causing fear among the 700 full-time workers of the Point Henry smelter as they are waiting for this annoumcement. ‘‘I’m very pessimistic about what that announcement will be,’’ said Ben Davis, state secretary of the Australian Workers Union. He fears Alcoa will confirm its exit from Geelong ‘‘in the next few weeks’’. It comes just after Toyota announced the closure of its Altona car-making factory in Altona in 2017, which may cost about 2500 jobs. Mr. Davis also added that Alcoa would not be interested in seeking government aid to run the smelter. Geelong workers have already suffered job cuts in the manufacturing sector at its Shell refinery and Ford factory. Mr. Davis...
Hindalco Industries fell 1.17% to Rs 105.60 at 10:42 IST on BSE after the company's US subsidiary Novelis reported its Q3 results on Monday, 10 February 2014. Meanwhile, the BSE Sensex was up 71.20 points, or 0.35%, to 20,405.47 On BSE, so far 2.21 lakh shares were traded in the counter, compared with an average volume of 9.29 lakh shares in the past one quarter. The stock hit a high of Rs 107.15 and a low of Rs 104.45 so far during the day. The stock hit a 52-week high of Rs 126.75 on 11 December 2013. The stock hit a 52-week low of Rs 83.05 on 7 August 2013. The stock had underperformed the market over the past one month till 10 February 2014, falling 3.26% compared with the Sensex's 2.04% fall. The scrip had also underperformed the market in past one quarter, declining 8.24% as against...
Signals are mixed for LME aluminium as it is not clear if a downtrend has resumed. The trend started from the Jan. 17 high of $1,825.25 and has been disrupted by a rebound from the Feb. 3 low of $1,671.25. A Fibonacci retracement analysis on the rebound reveals the current drop from the Feb. 7 high has almost touched a pivotal support at $1,692. Such a deep fall does indicate a resumption of the downtrend, however, so long as aluminium hovers above $1,692, it may still extend its rebound. Most likely, the metal will hover above this support for one day.
Weak aluminium prices are pointing to a major oversupply in the metal in Chile. But, Citi thinks the market indicators for aluminium are conflicting. The London Metals Exchange 3-month prices imply a market that's in significant oversupply, despite the closure of smelting capacity around the world over the last two years. Physical premiums are at record highs, resulting in full prices being seen in North America, whether they're up almost 20% since July 2009, in Citi's calculations, and even up by 5% since the beginning of this year. This has led to speculation there's a deficit. Citi thinks this is fanciful. Chinese smelting capacity is being built out and the country is increasing its exports of semi-refined aluminium. There's also significant growth in Middle Eastern production....
Commodity trader Trafigura's warehousing and logistics subsidiary has delisted eight metals warehouses in Antwerp, Belgium, the London Metal Exchange (LME) said on Monday. The move by Impala Terminals UK Ltd comes as the market prepares for tighter LME rules to reduce wait times to access metal in warehouses following complaints, lawsuits and regulatory pressure. The new regulations to take effect from April have the potential to reduce profits for warehouse companies, which have generated rental income from metals caught up in the backlogs. Last month Trafigura said it would integrate its warehousing company North European Marine Services (NEMS) into Impala. Sources in the warehousing sector have said that NEMS had not been as successful in creating queues and generating income from...
Japanese trading house Sumitomo Corp., which has stakes in smelters from Brazil to Australia, forecast aluminium will face a deficit next year for the first time ever since 2006 as lower prices accelerate output cuts. “Global demand will outpace supply by 37,000 metric tonnes in 2015 from a surplus of 312,000 tonnes estimated for this year,” said Shingi Yamagiwa, manager of light metals trading at the Tokyo-based company. Aluminium prices are down 18% last year on the LME. Top producers such as Rio Tinto Group, United Co. Rusal, and Alcoa Inc. have already announced their output cutbacks. China has made efforts to cut down the capacity of its plants which account for almost half the world output, resulting in low prices in an over-supplied market. “Western producers will continue to cut...
Aluminium Bahrain B.S.C reaffirmed its commitment towards enhancing the safety culture of Alba with its plant-wide HSE Week held from January 26 to 31, 2014. Organised in cooperation with the Alba Labour Union, the HSE event's theme - 'Elevating Safety to Lightspeed' - symbolised Alba's move to the next level on health, safety and environment. Along with work safety, the HSE event focused significantly on spreading the safety culture beyond Alba - to the families, especially children of all employees. The main highlight was the Kids Drawing Competition - under the theme 'home safety' - wherein Alba employees' children participated by submitting a drawing/painting on their understanding of safety. The winners were selected and awarded by Alba's Chief Executive Officer's daughter, Faith...
