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
Aluminum company Aldel in Delfzijl went bankrupt. 300 Dutch employees will lose their jobs. In addition, 250 people with temporary contracts and 300 people with supply companies will be laid off.In the past few weeks the company has been unable to find funders for the current operating deficit of an estimated 24 million euros. The owner of the company, the American Gary Klesch, will not pay for the shortfall. Aldel has been struggling for years. In September, the company sounded the alarm about the high electricity bill, allowing competitors to operate much cheaper in Germany. A bridging loan of 8 million euros was provided in consultation with Minister Kamp of Economic Affairs and the province of Groningen, more or less assuring the survival of the company until the end of this year. In...
Aluminium touched its highest level in nearly two months on Monday as consumer buying boosted the market in thin conditions. Three-month aluminium on the London Metal Exchange (LME) climbed to a session peak of $1,839 a tonne, the strongest since Nov. 4, before paring gains. It closed at $1,822, up 0.7 percent. "I think there was some consumer buying," said Gianclaudio Torlizzi, partner at T-Commodity, saying low liquidity during the holiday period exaggerated the gains. Aluminium also broke above its 100-day moving average, a bullish sign for investors who watch signals based on chart patterns. It remained on track for a 12 percent loss this year, however. "I see the metals as vulnerable to selling when traders come back to work. Every spike is a good selling opportunity in my view,"...
Jiaozuo Wanfang Aluminium Manufacturing Co. plans to pay 389.3 million yuan ($63.6 million) to buy a 20% interest in China Rare Metals and Rare Earth Co., part of Aluminum Corporation of China (CHINALCO). Jiaozuo Wanfang, which itself is a subsidiary of Aluminum Corporation of China Ltd. (Chalco), would make the payment to Chinalco’s rare earth and metals unit from self-raised fund, it told Shenzhen Stock Exchange over the weekend. The payment represents a 25.2% premium over assessed value of the equity stake as Jiaozuo Wanfang believes the unit’s rare earth, tungsten and tin businesses have great potential, it said in a statement.
Hindalco Industries Ltd, caught in a weak global aluminium cycle, is facing headwinds in domestic operations. While commissioning of long-awaited Greenfield capacities (Utkal refinery and Mahan smelter) will aid volume growth, lack of captive coal and high capex costs will lead to losses. We remain cautious on Mahan coal block timelines with downside risk if clearances get delayed further. At Novelis, benefits of volume expansion are back-ended and continued pressure on ‘scrap less LME’ prices will arrest margin expansion. Given weak operating cash flows, balance sheet health is unlikely to improve even as capex intensity starts tapering FY16 onwards. We maintain ‘underperformer’ with a 12-month price target of R89. While commissioning of Mahan coal block would mitigate the losses, we see...
Aluminium futures prices rose by 0.14% to INR 109.70 per kg today as speculators covered up their short positions on rising demand in spot markets even as metal weakened in the global markets. At the Multi Commodity Exchange, aluminium for delivery in current month up by 15 paise, or 0.14%, to INR 109.70 per kg, with a business turnover of 27 lots. Similarly, the metal for delivery in January contracts traded 10 paise, or 0.09%, higher at INR 111.25 per kg, with a business turnover of 7 lots. Marketmen said covering-up of short position by speculators following a pick up in demand in spot markets and ending monthly settlement, helped aluminium futures to trade higher despite metal's weakness in the global market.
Aluminum may extend declines to as low as $1,600 a metric ton in the first half of 2014 as new rules from the London Metal Exchange make more metal available, said analyst Helen Lau of UOB Kay Hian Ltd. Warehouses listed with the world’s largest metals bourse will have to release more of the commodity than they take in from April 1, the LME said last month after consumer complaints on waiting times and probes by U.S. regulators. Prices will be depressed regardless of whether the stockpiles go directly to users or shift to non-LME warehouses, Lau said. Aluminum, used in everything from cars and airplanes to beer cans, dropped 14 percent this year after trading at the lowest in more than four years on Dec. 2. While LME-tracked inventories climbed to a record 5.5 million metric tons in July,...
The United Steelworkers hosted a media call Friday to provide an update on its efforts to reopen the Ormet Corp. aluminum smelter in Hannibal, Ohio, and clear up any misinformation. On Dec. 19, Ormet held an auction to sell off some of its equipment and raw materials at the facility to pay back creditors, but David McCall, USW District 1 director, said the plant is in stable condition and still at a point where it can be saved. Ormet, once the fourth largest aluminum manufacturer, filed for Chapter 11 bankruptcy protection Feb. 25 for what the company said was "historically low metal prices and exceedingly high and uncontrollable power costs." About 1,000 jobs are affected by the plant's closure. There has been criticism that Ormet and the union have not done enough, but McCall said they...
New Zealand Aluminium Smelters general manager Gretta Stephens says she is making some headway on returning the Tiwai Pt aluminium smelter to viability, but admits it is proving to be a tough task. Her aim is to ensure the smelter is on a solid footing and back in the black. An improvement plan to deliver an extra $20 million of value to the smelter was now in place and would come from additional revenue and cost savings, she said. Changes to the revenue would come after the smelter changed the mix of products it sold - it would now be concentrating on making the most valuable products. Cost savings would be made in several areas, one of which was external freight costs. It had been a difficult year for the experienced and long-term workforce, which, despite the uncertainty, continued to...
National Aluminium Company (Nalco), a navratna PSU under Union mines ministry has got excellent MoU (memorandum of understanding) score of 1.5 by the department of public enterprises. The score is in recognition of Nalco's sterling performance in 2021-13. The aluminium major had last achieved the excellent MoU score in 2006-07. Nalco has also been rated 'excellent' with a score of 97.5 for its compliance with the guidelines on corporate governance for Central PSUs. During 2012-13, Nalco posted its highest ever net sales of Rs 7247 crore, 2.46 per cent more than the target of Rs 7073 crore envisaged in the MoU.The company also turned a net profit of Rs 593 crore with aluminium sale of 403,102 tonne and alumina sale of 984,722 tonne. Nalco reported the highest ever bauxite production of...
Aluminium Corporation of China (Chalco) listed a 60% interest in an alloy-making subsidiary on Shanghai United Assets and Equity Exchange (SUAEE) to transfer for 119.58 million yuan ($19.55 million). Chalco listed its stake in the Foshan, Guangdong province-based Chalco Nanhai Alloy Co. on the SUAEE on Dec. 20 and would keep the information till Jan. 20, 2014, according to the exchange data. China's largest alumnium maker has been disposing of fabrication segments over the past couple of years to focus more on the upstream sectors.
Aluminium settled up 2.86% at 109.55 prices rose to their highest in more than four months on Friday, lifted by a weak dollar, tightening supplies and expectations that economic recovery in top consumer China will help boost demand for industrial metals next year. China's economic growth is likely to come in at 7.6 percent this year, according to a cabinet report cited by the official Xinhua news agency, just above the government's target of 7.5 percent and slightly below last year's 7.7 percent. Its industrial output is likely to grow by about 9.8 percent in 2013, the Ministry of Industry and Information Technology said on Friday. LME Aluminium was the biggest percentage gainer, surging 3.1 percent to $1,810 a tonne. As support seen after news that Indonesia will provide exemptions to...
Aluminium settled down -0.88% at 106.50 on profit booking while outlook remain firm on growing confidence about the global economy, year-end covering and the prospect of purchases from China's state reserves. Strong U.S. economic data on Thursday and a bullish growth forecast for China, the world's No. 1 consumer, fuelled hopes about stronger demand for industrial metals. The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labor market. Initial claims for state unemployment benefits decreased 42,000 to a seasonally adjusted 338,000, the Labor Department said. Citing an improving labor market, the Federal Reserve last week said it would reduce its monthly $85 billion bond buying program by $10...
Aluminium Bahrain (Alba) welcomed a high-level delegation from the Indonesian Parliament, which is on a visit to the kingdom to further strengthen business relations and cultural ties between the countries. The eight-member delegation, led by Muhammad SohibulIman, Deputy Speaker of the Indonesian People’s Representative Council and Chilman Arisman, Indonesian Ambassador to Bahrain, was accompanied Bahrain's Member of Foreign Affairs, Defence and National Security from Council of Representatives MP Abdul Rahman Rashid Bumjaid. The Indonesian delegation aims to study the country’s investment potential, besides meeting Bahrain’s industry leaders, said Alba in a statement. The visiting delegates were given a tour of the smelter and shown the production processes, besides a presentation...
Global unwrought aluminium stocks totalled 1.133 million tonnes in November, up from a revised 1.098 million tonnes in October, data from the International Aluminium Institute showed on Friday. Unwrought aluminium stocks in November last year were 1.231 million tonnes, the data showed. Total aluminium stocks, or unwrought aluminium plus unprocessed scrap, metal in process and finished semi-fabricated products, were 2.172 million tonnes in November, up from a revised 2.148 million tonnes in October. In November last year total stocks were 2.245 million tonnes, the data showed.
The global aluminium production sector is becoming ever more polarised. China's national output of the light metal has risen by 3.36 million tonnes annualised since the first quarter of this year, while output in the rest of the world has contracted by 1.06 million tonnes over the same period. China is now within a whisker of producing half of the world's aluminium output. Average daily production in November was 65,130 tonnes, according to the China Nonferrous Metals Industry Association. Production in the rest of the world was 65,630 tonnes, according to the International Aluminium Institute (IAI). It may have already got to the 50 per cent mark. Both agencies include an estimate for unreported production and for China that is currently 200,000 tonnes per month, while for the rest of...
Saudi Arabian Mining Company (Ma'aden) has restarted one of the two potlines at its new aluminium smelter in Saudi Arabia, the company said on Sunday. The $10.8-billion aluminium plant at Ras al-Khair, a joint venture between Ma'aden and US-based Alcoa, shut one of its smelting lines in mid October due to problems encountered during a ramp up of production. "The ramp up and increase of the first potline production is expected to reach production capacity within the second quarter of 2014," Ma'aden said in a Saudi stock market statement. It did not say when production resumed. The other potline, a series of containers used to smelt aluminium, did not have to shut during its initial ramp up. The two lines have a combined production capacity of 740,000 tonnes a year of aluminium.
Industrial giant Dubai Aluminium (Dubal) has reinforced its commitment to making Dubai the 'hub' for all things golf by extending its support to the Omega Dubai Desert Classic‚ which celebrates its 25th anniversary early next year. Operating one of the world's largest single-site primary aluminium smelters, Dubal has been associated with this longest-running European Tour event in Asia and the Middle East, since its inception in 1989. Dubal’s renewed support underlines the company’s resolve to back community initiatives and the broader goals of the Dubai and UAE governments. World number one Tiger Woods, European number one Henrik Stenson and Northern Ireland’s Rory McIlory‚ among other past champions‚ will headline a stellar field for the 25th edition of the Omega Dubai Desert Classic at...
Subdued domestic demand due to a poor investment cycle, the coming general elections in India and important developments in the global markets are expected to keep the excitement out of metal companies for most of 2014, analysts and industry officials say. With general elections a few months away and inflation at an all-time high, very little can improve in the prevailing investment cycle, they said. Due to this, demand for ferrous and non-ferrous metals will remain dull next year. Shares of metal companies were on a roller-coaster ride in 2013 and most fell sharply in the June to August period, as the rupee plummeted, increasing their cost of production. Demand improvement in Europe and America from September have pushed up revenues, in turn helping companies recoup their losses to some...
