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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The Aluminum Manufacturing industry fought through tough economic conditions the past five years. The onslaught of the Great Recession caused demand from the industry's major industrial manufacturing and construction markets to plummet, particularly car and automobile manufacturers and aluminum-based packaging product producers. In addition, demand from the United States, the industry's largest trading partner, fell heavily as US industrial production and construction activity declined. As a result of these factors, industry revenue fell over the past five years, which includes a slight drop in 2013 alone. Tough demand conditions were coupled with extreme volatility in the price of aluminum. Overall, the world price of aluminum fell from 2008 to 2013. However, individual year-to-year...
Indonesia's government is re-examining provisions in a mining law that would ban exports of unprocessed metal ores from next year, chief economic minister Hatta Rajasa said on Thursday, asserting that the law must not be breached. A furious debate has erupted over the scheduled export ban, an issue that pits nationalist-minded lawmakers against officials and companies desperate not to lose revenue. From January 12, mining companies must process their ore before shipping it overseas, a measure that aims to boost the value of exports from Indonesia, the world's top exporter of nickel ore, thermal coal and refined tin. But uncertainty over details on the processing requirements set out in the law has drawn protests from small mining companies as well as major players, including U.S. giants...
Europe's aluminium premiums - or costs to get metal out of storage - are approaching record highs despite reforms aimed at stemming them, as persistent use of material for collateral in financing deals squeezes availability. Premiums had fallen to their lowest in a year late in September, before an embattled London Metal Exchange (LME) beefed up its powers to free-up access to backlogged metal, but costs have steadily risen since then. Aiming to appease critics of its global storage network, the LME in November slashed maximum wait times for metal, boosted its powers to act against market abuse and said it would review its agreement with warehouse owners. But duty-paid aluminium premiums in Rotterdam climbed to $250-275 a tonne in December, from around $235-255 a tonne in September....
A recent study by the Centre for European Policy Studies has shown that the aluminium industry in Europe is at an 11 per cent cost disadvantage with the rest of the world. Carl Tomlinson, President of the Aluminium Federation (ALFED), argues that this is a "direct result of energy taxation”, with aluminium products now being made and imported outside of Europe. Speaking to the Information Daily following a Breakfast Briefing with members of the All-Party Parliamentary Group for the UK Aluminium Industry, Tomlinson says the additional carbon usage of importing products will be "detrimental" to an industry attempting to hit global warming targets. Simon MacVicker, the upcoming president of ALFED, also slammed the high costs of energy taxes in Europe, explaining that as a consequence "a lot...
SURF Coast residents are calling for Alcoa to consider renewable energy solutions amid fears the smelters seeks to sell coal directly to the market. The Anglesea brown coal-fired power station supplies 40 per cent of Point Henry's aluminium smelter electricity requirements. An Alcoa spokesperson said the company had applied to the Essential Services Commission to enable Anglesea power station to continue to fuel Point Henry. However, Surf Coast Air Action spokeswoman Dr Jacinta Morahan said with the future of the smelter uncertain, the group believed Alcoa will propose to sell or operate the mine and power plant as an electricity generator. "Granting Alcoa a licence to generate electricity will not promote the long term interests of Victorian consumers," she said. In 2012 the company...
Ormet Corp. plans to auction equipment and raw materials used in the aluminum smelting process at 10 a.m. today, according to records in the U.S. District Bankruptcy Court in Delaware. Ormet closed the Hannibal aluminum smelter in October amid high utility costs and low global metal prices. CEO Mike Tanchuk announced the closure of the plant that opened in 1958 after the Public Utilities Commission of Ohio refused to lower Ormet's electricity costs from $60 to $45.89 per megawatt-hour as the company requested. Because the company is bankrupt and cannot pay its debts, the court is allowing raw materials to be sold to help pay off the debt. Documents filed Tuesday show Ormet is looking to auction its baked carbon anodes today. According to Pittsburgh-based aluminum giant Alcoa Inc., anodes...
So much for supply side of our Aluminum Outlook 2014 honestly, supply will likely continue to outstrip real demand for some years to come, never mind just in 2014 – but we couldn’t touch on demand in the aluminum market without including the stock and finance trade. It is this activity more than any other that has created the circumstances allowing warehouse operators to offer massive incentives to store metal in their warehouses, distorting the physical delivery premiums. Load-out rates have played a significant part as they have created a guaranteed minimum return for warehouse operators, sustaining the model; but without the stock and finance game, it is hard to see where the demand to store metal in such massive volumes would have come from. Threats to this model are probably the...
Franklin-based Noranda Aluminum Holding Corp. announced this week that it will be cutting 190 employees and contract workers from its workforce. The company said the cuts, which represent about 7 percent of the company’s total employee count, will generate annual savings of $15 million per year, and are part of Noranda's CORE productivity program that targets $225 million of savings from over the next two years. "While this workforce reduction is difficult, it is a necessary part of our commitment to continue to enhance our cost structure and create shareholder value," said Layle K. "Kip" Smith, CEO and President. "This reduction has been a thoughtfully planned part of our CORE program and will not impact service levels for our valued customers or the other ongoing growth and productivity...
Select copper and aluminium prices eased in an otherwise lacklustre non-ferrous metal market here today on stockist selling amid lower demand from industrial users on the back of bearish London Metal Exchange (LME) cues. The industrial metal declined at the LME, dropping further from near two-month highs reached earlier in the week as investors worried the Federal Reserve could curb its monetary stimulus. Copper utensils scrap fell by Rs 3 per kg to Rs 460 from Tuesday's closing levels of Rs 463. Aluminium ingots moved down by Rs 2 per kg to Rs 146 from Rs 148. Copper cables scrap, copper armiture, copper wire bar and copper sheet cutting all softened by a Re per kg each to Rs 506, Rs 486, Rs 534 and Rs 479, respectively.
Trimet Aluminum AG has taken control of two former Rio Tinto Alcan Inc. production plants in France. The Essen, Germany-based aluminum producer said Dec. 16 that the move came after it received regulatory approval for a deal signed in July. The plants—in Saint-Jean-de-Maurienne and Castelsarrasin, France—make aluminum products used in the power transmission and automotive sectors, Trimet said. The acquisition should give Trimet a presence in the aluminum wire market and boost its core business of supplying specialty products, chief executive officer Martin Iffert said. Iffert is expected to become chief executive officer of Trimet France SAS, which is majority owned by Trimet and in which Paris-based Electricité de France SA (EDF) holds a minority stake, the company said. Montreal-based...
The electrolytic aluminum capacity in China will reach 32 million tonnes by the end of this year, said Wen Xianjun, vice Chairman of China Nonferrous Metals Industry Association. If the new capacity well controlled, the goal to solve the overcapacity will be realized. In the first 11 months, the output of electrolytic aluminum reached 20.11 million tonnes, 9.6% higher than the last year, and the total output this year would reach 22 million tonnes. In the first 11 months, the aluminum products reached 35.92 million tonnes, increased by 24.73%, and the total output would be 39 million tonnes. In the first 10 months, the investment in the aluminum smelting totaled 68.4 billion Yuan, declined by 4.68% YOY, and the net loss reached 4.25 billion Yuan, compared with 6.95 billion Yuan in 2012....
Glencore's former No. 2 aluminum trader Matt Lucke has opened a physical metals trading firm, becoming the first high-profile alumni of the commodity trading giant's powerful metals business to return to the market since its takeover of Xstrata in May. The 40-year old American told Reuters last week he has returned to trading just six months after leaving Glencore Xstrata Plc where he worked his way up over 17 years from the finance department to becoming one of the company's most senior aluminum executives. His departure in the summer alongside global aluminum and alumina chief Gary Fegel was the biggest shake-up of the world's biggest aluminum trading desk in years. The future of Glencore's senior executives who became paper millionaires following the firm's stock market listing in 2011...
Aluminium ingots moved up in an otherwise mute non-ferrous metal market here today on stockist buying amid renewed offtake from consumer industries. The industrial metal edged up at the LME, from the highest in nearly two months hit the previous day, as traders cut risk ahead of a Federal Reserve meeting. Aluminium ingots climbed up by Rs 3 per kg to Rs 148 from Monday's closing level of Rs 145.
Lawsuits accusing Goldman Sachs Group Inc. (GS:US), JPMorgan Chase & Co. (JPM:US), their warehousing businesses and the London Metal Exchange of constricting aluminum supplies and driving up prices will be handled in a New York court. Twenty-six federal cases have been filed accusing the defendants, in various combinations, of violating U.S. antitrust laws. While most were brought in Detroit, some are already pending in New York, with others in Los Angeles, New Orleans and elsewhere. Arguments promoting each location as most suitable for pretrial exchanges of evidence and depositions were made before the U.S. Judicial Panel on Multidistrict Litigation on Dec. 5 in Las Vegas. That panel issued a decision yesterday choosing New York.
Rio Tinto has announced that it is shelving its plans to construct an aluminum smelter worth $4 billion in Paraguay. The company attributed its decision to poor market conditions in the aluminum segment. The decision doesn’t come as a surprise to us, considering that only a few days back the company announced massive spending cuts, especially in the aluminum business. The aluminum market is currently oversupplied and prices remain depressed with no upside in sight. Despite the announcement of a massive reduction in smelting capacities by major producers such as Alcoa and Rusal, the downward price trend continues. Why Has The Project Been Shelved? Rio’s proposed aluminum smelter in Paraguay was supposed to be built at a cost of $4 billion. It would have been the company’s biggest aluminum...
One of the toughest markets to read direction for has been aluminum and next year, consumers will not be pleased to hear, it does not look much better. In most other markets, massive over-supply would result in prices falling to the point where marginal suppliers throw in the towel and supply becomes constrained sufficiently to support a recovery in prices. Market economics, if you like, come into play and balance out supply at or above breakeven. Not so in the aluminum industry since the financial crisis. Massive overproduction, predicated on the back of strong growth in demand earlier this decade – growth, incidentally, that has continued in positive territory in spite of the financial crisis – has continued to bring new capacity on-stream even as loss-making older plants have been shut...
Aluminum production is rising in Africa, China, the Arabian Gulf, Eastern and Central Europe and (this surprised us a little) North America, but it is falling in Oceania, South America, Western Europe and Asia (ex-China), according to FastMarkets. We continue our Aluminum Outlook 2014 from Part One here. Collectively, production in the world ex-China totaled 17.06 million tons in the first eight months of the year period, down from 17.131 million tons in the same period of 2012 – all the net growth is in China, where production climbed to 15.841 million tons in the first eight months of the year from 14.541 million tons a year previously. While on the subject of closing production, don’t be too wowed by statements from market leaders like Alcoa Inc. talking about how much capacity they...
The European Commission said Friday it has approved Rio Tinto Alcan's planned sale of aluminium plants in France. "The European Commission has approved under the EU Merger Regulation the acquisition of joint control over two aluminium production facilities located in France of the Rio Tinto Alcan group by the Trimet group of Germany and Electricite de France S.A. (EDF) of France,". On July 13, Rio Tinto Alcan said it had received a binding offer for its St Jean-de-Maurienne aluminum smelter and its Castelsarrasin casting facility in France from German aluminum producer Trimet. The deal will bring in French state-controlled power firm EDF as a minority stakeholder. Since 2009, Rio Tinto Alcan has closed or curtailed over 600,000 mt of aluminium capacity and sold a further 13 non-core...
