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...
Grow with
AL Circle
Shares in Hindalco Industries fall 1.2 percent after its global peer Alcoa Inc, the largest US aluminium producer, reported a massive quarterly loss on Thursday and gave a stagnant outlook on global aluminium demand. Excluding the impairment charge of USD 1.7 billion on smelter acquisitions and other special items, Alcoa group earnings fell to USD 40 million, falling short of analysts expectations. Alcoa said it expected global aluminium demand to grow 7 percent in 2014, consistent with its 7 percent growth in 2013. Analysts tracking the sector say Alcoa's stagnant outlook on global demand for aluminium does not bode well for Hindalco's US subsidiary Novelis Inc.
Alcoa Inc has no plans to follow Russian aluminum producer Rusal and launch legal action against the London Metal Exchange aimed at overturning reforms to its warehousing policy, Chairman and Chief Executive Klaus Kleinfeld said on Thursday. The U.S. aluminum producer and Rusal have staunchly criticized the LME for implementing changes, which will speed up the rate at which metal is delivered out of storage locations and is expected to pressure the physical prices of aluminum. In a dramatic move last month Rusal - the world's biggest aluminum producer - filed a lawsuit against the LME, demanding the world's oldest and largest metals exchange, scrap the changes. "We understand where those folks are coming from," Kleinfeld said in a conference call to discuss Alcoa's fourth-quarter...
Energy demand and greenhouse gas emissions associated with primary aluminum production in the United States and Canada have declined significantly in recent years according to a new, peer-reviewed life-cycle assessment (LCA) report released by the Aluminum Association. The study covers all life cycle impacts from aluminum production through semi-fabrication and finds major improvements, particularly in terms of more sustainable production. According to the report, the energy needed to produce a single metric ton of primary (new) aluminum has declined 11 percent since 2005 and 26 percent since 1995. The industry’s carbon footprint has fallen even more dramatically, declining 19 percent since 2005 and 37 percent since 1995. A voluntary effort undertaken by the industry in the early 1990s...
In a clear demonstration of the UAE primary aluminium industry’s growing importance in the global sector, Dubai Aluminium (" DUBAL ") and Emirates Aluminium ("EMAL") will participate jointly in the Platts1-hosted Aluminium Symposium 2014 ("Platts 2014"). Held this year in Fort Lauderdale, Florida, USA from 12 to 14 January, the focus of Platts 2014 is on new trends in volatile global markets. The event is expected to provide a strong platform for leading aluminium producers (such as DUBAL and EMAL), extruders, industrial buyers, investors and analysts to share insights. DUBAL and EMAL’s participation at Platts 2014 is multi-tiered: The two companies will have a combined exhibition stand, appearing for the first time as operating subsidiaries of Emirates Global Aluminium ("EGA") - a...
ALCOA will not seek further government assistance for its troubled Point Henry aluminium smelter, dramatically increasing the chances of its closure this year and the loss of 500 more jobs in Victoria's manufacturing sector. The company revealed yesterday that neither state nor federal aid was being sought for the smelter, despite the Gillard government handing Alcoa $40 million in 2012 to keep the operation near Geelong open. Its decision to eschew further assistance is expected to make it virtually impossible for the business to remain viable at a time when weak aluminium prices have forced the global organisation to review its operations. Alcoa's national communications manager Nichola Holgate said yesterday the company, which has been aided for decades in Victoria by generous state...
China’s second-biggest aluminum producer Shandong Nanshan Aluminium Co. Ltd. will begin construction of processing facilities and supporting infrastructure totaling US$5 billion in Indonesia in the first quarter of this year. Industry Minister MS Hidayat, who last week visited the firm’s integrated processing facilities in China, said on Thursday that it would also build a 300-megawatt power plant to fuel operation of the smelters, and a port to serve the smelter, set to be located on Bintan Island, Riau Islands province. “The firm is now finalizing the land acquisition for the smelter and will begin building in April,” he told reporters at his office. The development of the smelter may be completed within two years and, once the smelter begins operation, it will process bauxite into...
”Aluminum premiums, or costs to get metal out of storage, have soared to all-time highs in the United States with Europe and Asia close behind as smelters shut and spare metal is snatched up by traders for collateral in financing deals,” reports Reuters. “The rise in premiums highlights the London Metal Exchange’s (LME) limited ability to cool a market where low interest rates continue to whet appetites for locking up aluminum as a form of investment.” The LME, “announced big changes to its metals storage system in November after years of complaints…It outlined plans to slash waiting times to a maximum of 50 days, among other measures, which analysts and manufacturers had hoped would lead to lower premiums especially given that the aluminum market is oversupplied.” “But the benchmark...
Chiping Xinyuan Aluminum Industry Co., a major Chinese aluminum rod producer, was ordered to halt production for heavy air pollution by municipal government of Shandong province where it is based, local news website dzwww.com reported today. Chiping Xinyuan Aluminum is one of 6 local enterprises ordered to close in this round of environment protection efforts. Facilities would be shut down if failing to pass emission standards for pollutants before March 31, 2014, according to the report.
The construction of the Saudi mining sector serves the country and citizens over the long term and contributes to creating thousands of jobs for the people of the Kingdom, especially in the technical jobs, as well as investment opportunities for citizens and international companies, Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi said Wednesday during the inspection tour of Ma'aden Company projects in Ras Al-Khair City, Eastern Province. He said "these mega projects contribute to economic diversification, achievement of high returns for shareholders and investors, transfer and localization of technical professions with high skills. The mining industry constitutes an important basis for the diversity of the economy and the development of new industries based on their...
The rise in premiums highlights the London Metal Exchange's (LME) limited ability to cool a market where low interest rates continue to whet appetites for locking up aluminium as a form of investment. January 08, 2014 12:19 MUMBAI: Aluminium settled down -0.32% at 109.30 despite that Aluminium premiums, or costs to get metal out of storage, have soared to all-time highs in the United States with Europe and Asia close behind as smelters shut and spare metal is snatched up by traders for collateral in financing deals. The rise in premiums highlights the London Metal Exchange's (LME) limited ability to cool a market where low interest rates continue to whet appetites for locking up aluminium as a form of investment. The LME, the world's largest metals marketplace, announced big changes to...
Signals are mixed for LME aluminium, as it is not clear if the rebound from the Jan. 6 low of $1,756 has completed. The rebound failed to go above a resistance at $1,788, the 38.2 percent Fibonacci retracement on the fall from the Dec. 30 high of $1,839 to $1,756. The failure indicates a resumption of the preceding downtrend. Unfortunately, the resumption will not be confirmed until aluminium drops below $1,756. On the other hand, the extension of the rebound will only be signalled when aluminium climbs above $1,788. 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 for business, financial or legal advice regarding the products...
Jobs at Portland Aluminium are in the clear after Alcoa ruled the south-west smelter out of a review process into it’s troubled Point Henry site near Geelong. Point Henry workers will know in March what the company will do with the smelter, which received a Commonwealth bailout in 2012 that’s set to expire this year. But Alcoa has delivered certainty to it’s south-west workforce saying the review process “doesn’t include Portland Aluminium”. “It’s not being reviewed ... it’s not being looked at,” a company spokeswoman told The Standard. “It’s an ongoing process — we will notify our (Point Henry) employees in March.” The Portland smelter has largely escaped the turbulence facing other smelters across the country because of its relative young age and good efficiencies. It was mainly absent...
The decks have been cleared for selling the Government’s remaining stake in aluminium major Balco with the Law Ministry giving its nod to the proposal. The stake sale is expected to generate up to Rs 4,000 crore in the current fiscal. A note prepared by the Law Ministry, seen by Business Line, stated, “Subject to Attorney General’s opinion and noticing that there appears no constitutional or legal issue involved in the matter, the proposal in the note is a policy decision we may concur in.” The Ministry has given its remarks in a response to the proposal floated for approval by the Cabinet Committee on Economic Affairs. The note has mentioned the two opinions given by AG, first dated April 27, 2006 and the second one dated December 12, 2013. The latest one opined that the Government is no...
China's additional power tariffs aimed at energy-hungry aluminium smelters are not likely to boost prices for the metal as enough new capacity is coming on line to replace any plants forced to close due to the increase in costs. Top aluminium producer and consumer China imposed extra power tariffs this month on smelters using more than 13,700 kilowatts (KWs) for each tonne processed, part of a scheme to close inefficient plants and rein in overcapacity. The additional power fees could raise costs by as much as 1,100 yuan ($180) per tonne for some smelters. Around 1.7 million tonnes of aluminium smelting capacity would be liable for the higher tariffs, according to Shanghai-based industrial metals information provider SMM. That would account for around 7.2 per cent of China's operating...
Dozens of former Ormet Corp. employees picketed in front of American Electric Power headquarters yesterday, hoping to call attention to what they see as inaction by the utility and state regulators that led the southeastern Ohio aluminum smelter to shut down. “All we want to do is go back to work,” said Donnie Blatt, a former Ormet employee who now works for the United Steelworkers union. Ormet, based in Hannibal on the Ohio River, closed its doors in October after an unsuccessful attempt to get AEP to increase its electricity subsidy — already the highest of its kind in the state. At full employment, the company had more than 1,000 workers. AEP spokeswoman Melissa McHenry issued the following statement: “We are sorry to see any Ohio business fail, and we sympathize with the Ormet...
Alcoa today reported solid operating performance in the fourth quarter and full-year 2013 as the Company’s repositioning gains traction, offset by special items primarily to address legacy matters in the Primary Metals business. As a result, Alcoa reported a fourth quarter 2013 net loss of $2.3 billion, or $2.19 per share. Special items in fourth quarter 2013 totaled $2.4 billion and included a non-cash goodwill impairment of $1.7 billion related to Primary Metals. The impairment has no impact on the Company’s liquidity and does not affect the ongoing operating performance of Primary Metals. Excluding the negative impact of special items, Alcoa reported net income of $40 million, or $0.04 per share, in fourth quarter 2013. Engineered Products and Solutions (EPS) reported record fourth...
LME aluminium is expected to rise to $1,803 per tonne, as indicated by a falling channel and a Fibonacci projection analysis. The metal has risen into the falling channel, which has been duplicated from a lower channel. The upper channel line of the duplicated channel points a target at $1,803, the 38.2 percent Fibonacci projection level of a wave c. An immediate resistance is at $1,792, the 61.8 percent projection level, which may be broken easily. A correction from the current level may be limited to $1,775, the 100 percent projection level. 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 for business, financial or legal advice...
Federal court records show Pittsburgh-based Alcoa Inc. will pay about $11 million to purchase 51,841 metric tons of carbon anodes from Ormet Corp., as the bankrupt company continues selling off raw materials needed to make aluminum. Judge Mary Walrath of the U.S. District Bankruptcy Court in Delaware approved the sale to Alcoa after Ormet attorneys conducted an auction, court records show. Alcoa defines the anodes as large carbon blocks that act as electrical conductors to allow the aluminum smelting process to take place at a plant such as Ormet's Hannibal Reduction facility. Unloading the anodes is just the latest step for Ormet, which closed its smelter in October. Court records show the company has also sold $3 million worth of copper rods to Libertas Copper; sold alumina to...
