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 smelters in Germany and Spain are under the threat of closing down due to low prices of London Metal Exchange, excessive regulation and high power costs, an industry analyst said. Europe's strict labour and high energy costs and environmental laws have made it unprofitable to produce the primary metal in the region, David Wilson, Citigroup's director of metals research and strategy, said at Platts aluminium symposium this week. "I think we'll see Spanish and German smelters close this or next year," he said at the Platts aluminium symposium. "There's no reason to produce aluminium in Europe." Wilson predicted production in Europe will go down to 2 million tonnes this year, the lowest since the year 1971.That is a small fraction of the global output of about 50 million tonnes. The...
Alcoa today announced it will permanently close the remaining two potlines at its Massena East smelter in New York in the first quarter of this year. The decision was made because the potlines are no longer competitive. One of three potlines at the facility was permanently closed in August 2013. The closure will reduce Alcoa’s smelting capacity by 84,000 metric tons. The Massena West facility will continue to operate. “We will be working with our unions, state, local and other stakeholders to minimize the impact of these changes,” said Bob Wilt, president of Alcoa Global Primary Products. “We appreciate the support of the New York Power Authority and will work with them and others to ensure our continuing success at Massena West.” Alcoa’s review of its primary metals operations is...
Signals are mixed for LME aluminium, as it is not clear if the rebound from the Jan. 9 low of $1,751 will extend. The extension will be confirmed when aluminium climbs above a resistance at $1,785, the 38.2 percent Fibonacci retracement on the fall from the Dec. 30, 2013 high of $1,839 $1,751. Both the wave pattern and an inverted head-and-shoulders under formation indicate a possibility of the extension, as an upward wave c is yet to unfold and the inverted head-and-shoulders is a typical bullish reversal pattern. A drop below $1,751 will clearly signal the continuation of the preceding downtrend from $1,839
Aluminium makers insisted that the Government trims “punitive” energy taxes at a meeting yesterday with Michael Fallon, Business and Energy Minister. The concern of Aluminium Federation (ALFED) is UK firms are increasingly uncompetitive when compared to Chinese, European and Indian businesses. They provided the minister with a study which suggests EU legislation has left the European firms paying a total of €228 (£189.7) more per tonne than their competitors. Simon MacVicker, President of ALFED and the managing director of Bridgnorth Aluminium in Shropshire said: “What we need the British Government to do is cut the domestic energy taxation that puts us at a disadvantage to our European partners and ‘bang the drum’ in Europe for the re-industrialisation agenda, so that we once again...
Aluminium Bahrain B.S.C (Alba) was able to deliver an unparalleled performance in 2013 - sales figures for the year rose by 3.3% year-on-year (YoY) to 919,722 metric tonnes (mt) ahead of the company's own forecast for the period while production figures were up by 2.5% YoY to reach 912,700 mt versus 890,217 mt for 2012. For the fourth quarter of 2013, sales figures stretched to 237,534 (mt) - a 5.2% YoY increase versus 225,740 mt in Q4 2012; production figures increased by 2,912 mt to reach 229,916 mt as compared to the same period of 2012. In addition, Alba closed 2013 Value-Added (VA) sales with an average of 66% versus 65% in 2012 while (VA) sales for Q4 2013 represented 66% of the total shipments as compared to 64% for the same period in 2012. Commenting on Alba's sales and production...
The multinational banking and financial services firm Barclays has projected that supply deficit in aluminium market to reach 1.1 million mt in 2014, almost 51% higher when compared with the 2013 deficit of 726,000 mt. In its latest released Metals Magnifier report, Barclays states that the Chinese market is expected to report surplus of 250,000 mt aluminium, while the rest of the world will see a supply deficit of 1.3 million mt this year. Barclays projects 1.1 million mt deficit in 2015 as well. According to Barclays, the LME Aluminium cash price will average at $1,850 per mt during 2014. The average prices will rise on a quarterly basis. The projected average price during Q1 is $1,750 per mt. The average prices will increase to $1,850 per mt during Q2-Q3. In Q4, the average prices are...
The constant rise in U.S. aluminum premiums to a record level is fuelling the worry over falling supply and rising costs of a major raw material for beverage can makers as well as the automakers, despite the oversupply of stocks in the market. Premium for aluminum paid in U.S., on top of the LME for physical delivery of the metal, soared 45 % during the last week and reached the level of 17.5 cents per lb. The jump has baffled General Motors, one of the major end-users for aluminum. "I’ve not heard a convincing reason for the premium," Saber Haidous, global commodity manager for GM, said at the Platts aluminum symposium on Tuesday. His comment has affected activities in the market and worried the consumers, who have complained that high physical prices are costing the industry billions of...
Fujian Minfa Aluminium announces that it plans to buy 10 million shares in Bank of Quanzhou with CNY 30 million, representing 0.41% of capital stock after the issuance. Bank of Quanzhou grew total assets to CNY 31.60 billion by December 31, 2012; main business incomes were CNY 1.47 billion, gross profits were CNY 419.87 million, net profits were CNY 311.11 million and net cash flows from operating activities were CNY 2.79 billion.
On Friday a court said four companies have bid to purchase various assets of bankrupt KAP aluminium plant of Montenegro. The Balkan country is making every attempt to unburden one of the important exporters who had to face a huge number of losses. The bankruptcy management officials at Kombinat Aluminijuma Podgorica have finally decided to set the total value of company assets as well as the land up for sale at a price of 54.5 million euros. Getsales Ltd, a London –based company offered an amount of 5,100 euros for the main production facilities of KAP outside the capital city Podgorica and have pledged to invest an amount of 700 million euros. Another local big firm, Montenegrin Uniprom has offered a sum of 28.5 million euros to buy a major part of the assets of KAP. Politropus...
Press Metal Bhd has named Public Investment Bank Bhd as independent adviser to non-interested directors and shareholders on a proposed exemption sought by its major shareholder Alpha Milestone Sdn Bhd (AMSB) and persons acting-in-concert (PACs) from the Securities Commission (SC) to overtake the remaining company shares and convertible securities not owned by them after the conversion of more than RM233.9mil nominal value of eight-year 6% redeemable convertible secured loan stocks. The Koon brothers are directors and substantial shareholders of Press Metal as well as AMSB. In a filing with Bursa Malaysia, (Maybank IB) said the appointment of Public Investment Bank is conditioned by the approval of the Maybank Investment Bank Bhd and SC. Maybank IB is Press Metal adviser on the proposed...
IIAC (Iran International Aluminium Conference) 2014 is scheduled to take place on the 25-26th of May 2014 with the motto “Aluminium, Key to a Sustainable Industry.” Alongside this event, a two day exhibition and prior to it a two day workshop will take place. A vast network of companies, associations, authorities and consortia make IIAC2014 one of most advanced conference & exhibition cases in the Persian Gulf region. This event is considered one of the most determining Aluminium events in Iran thanks to the confirmation of well known sponsors and special guests from the industrial sectors: Alumroll Novin, Paradise Aluminium Industries, Syndicate of Aluminium Industry of Iran, Iran University of Science & Technology, Iranian Metallurgical Engineering Society and Iranian Mining Engineering...
Alcoa Inc. is very optimistic about the demand for aluminium in the year 2014, according to its initial forecast released with its results. It expects that demand for white metal will increase by 7% this year, keeping a match with the growth of last year. Though the forecast says China’s demand will be slow keeping in mind the country’s shift in focus from investment-led economic growth. But regions such as Europe and North America are expected to pick up. In 2014, it is expected that China’s demand growth would be 10%, compared to 12% in the last year, while North America will make a rise from 4% to 5% and Europe goes up from minus 1% to a positive 1% growth. The main sectors that will drive growth are aerospace, automotive, beverage can packaging and commercial construction. In addition...
Aluminium traders and the London Metal Exchange are in advanced discussions over a new contract that will allow consumers to protect themselves against the cost of the surging premiums for the metal. Demand for a hedging tool has mounted in recent weeks as the gap between the physical aluminium market and the official LME benchmark price has widened leaving industrial buyers exposed. The US Midwest aluminium premium – the amount payable on top of the exchange price for immediate delivery of metal – surged to a record level in January, rising from $0.12 a pound to more than $0.20. That equates to about $450 a tonne – or more than a quarter of the current LME price for aluminium. European and Japanese premiums have also rocketed to record levels. The sudden spike in premiums has caused...
The London Metal Exchange is considering launching a U.S. aluminum premium contract, a senior executive said, potentially expanding its most-traded product after years of criticism over high physical prices. The contract, plans for which are still in the early stages, would reflect the cash premium that is paid on top of the LME benchmark for physical delivery, Matt Chamberlain, head of business development, told Reuters. The draft specification will be ready by month-end, at which point the LME will start to canvass the market for support. If liquidity grows, the exchange would expand it to include forward transactions, he said. The plans emerge just as premiums AL-PREM spike to record highs, now accounting for as much as a quarter of the LME price. Historically it has been around 10...
Vedanta group, the owner of Hindustan Zinc Ltd. (HZL) and Bharat Aluminium Co. Ltd. (Balco), will not get any preference when the government auctions its residual stake in the two companies in this financial year, a top government official said. There is no legal hurdle in the sale of the residual stake in HZL and Balco, and Vedanta, the majority owner, will be permitted to participate in the auction like any other bidder, said economic affairs secretary Arvind Mayaram. “We have very clearly recommended that there should be no put and call option given to the original buyer (Vedanta). It should be auctioned. No first right of refusal, but they will have a right to participate in the auction. So whoever gives the highest price to the government can buy the shares, whether it is the owner...
China's stranglehold on the global aluminium industry could be weakened by changes to export laws in Indonesia, according to American giant Alcoa. Indonesia on Sunday enforced a long-awaited mineral export law that effectively bans unprocessed ores from leaving Indonesian shores. The policy is designed to force companies to build processing plants and other downstream infrastructure on Indonesian soil, and pundits expect it to affect the trade of bauxite and nickel in particular, and possibly tin. China imports close to a quarter of its bauxite - which is the initial raw ingredient in the production of aluminium - from Indonesia, and Alcoa chairman Klaus Kleinfeld said the ban could force China to curtail some of its refining and smelting capacity. ''China is nervous, and you can see that...
As the New Year ushers in, it is expected that Aluminium Corporation of China (Chalco) will make up for their losses for the last year. With their cost reduction as well as asset optimization efforts, they are making every attempt to earn maximum profits. Recently the company said to Shanghai and Hong Kong stock exchanges, it expects to make a net profit of 1 billion yaun ($164 million) approximately making up for earlier loss of 8.23 billion yuan. In the exchange filing, the company said that the alumina products cost have witnessed a drop by 9% approximately year-on-year while the products of electrolysis aluminium have dropped by 5%. The company has worked to achieve the goal of expanding their business to reach heights of success in the industry. In order to achieve this, they have...
A multi-national Chinese construction firm, Huasheng Jiangquan Group, has identified Shama District as a viable place for the construction of an aluminium processing plant. The District hosts the Aboadze Thermal Plant, the Regulatory and Metering Station of the West African Gas Pipeline Company, the fertilizer factory, the Pra River and vast land. The District Chief Executive, Mr. Enoch Kojo Appiah told the GNA in an interview that some officials from the Ministry of Trade and Industry visited the project site on Wednesday January 8, to assess its viability. He said a team from the Chinese firm would also arrive in the District next week for further feasibility studies. He said the district had over 6,000 acres of land reserved for infrastructural development and that the traditional...
