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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Aluminium prices fell by 0.50 per cent to Rs 109.50 per kg in futures trading today as speculators offloaded their positions amid weak cues from global markets. Besides, subdued demand in the domestic spot markets also weighed on metal prices. At the Multi Commodity Exchange, aluminium for delivery in December declined by 45 paise, or 0.50 per cent, to Rs 109.85 per kg in business turnover of 120 lots. Similarly, the metal for delivery in January traded lower by 55 pa
Independent Commodities Logistics BV (ICL) has received approval from the London Metal Exchange for the first warehouse in Moerdijk, Netherlands, the exchange informed its members on Friday December 13. The warehouse in Moerdijk run by ICL will be listed from March 13 next year and will be a good delivery point for aluminium, aluminium alloy, copper, nickel, lead, tin and zinc. ICL is a joint venture between EuroRijn and Hans Cleton, who joined the company earlier this year after ten years as gm of Henry Bath BV Rotterdam. ICL received approval for a warehouse in Rotterdam earlier in the year. The port of Moerdijk is located between the ports of Rotterdam, Vlissingen and Antwerp, already a central hub for the transportation and storage of LME metal. There are already about 400 companies...
Global aluminium prices have been on a downtrend in the last few years. This has weighed on National Aluminium Company (Nalco) with its stock price falling around 30 per cent since last December to Rs 37 currently. The company’s margins are stabilising due to higher sale of alumina and lower input costs. Also, Nalco’s revenues are likely to grow as alumina sales pick up. The stock trades at a discount to its global peers — Alcoa and Norsk Hydro (price-to-forward earnings of around 20 times) — and to its historic levels of over 20. However, the stock’s price-to-FY15 earnings ratio of around 11 times is at a premium to peers such as Hindalco and Sesa Sterlite, which trade at around 9 and 6 respectively. Investors can hold their position as the stock is richly valued even after steep price...
Bahrain’s opposition has called for an independent investigation into state-run Aluminium Bahrain (Alba) after a corruption trial collapsed in London last week. Al-Wefaq, which has been at the forefront of protests in Bahrain, says losses to the public purse should be investigated by the government. “The Bahraini people lost money,” said Abdul Jalil Khalil, a Wefaq spokesman. “We need an independent investigation here in Bahrain to look into this as we are talking about more than $3bn – this is not an easy figure.” Billionaire Victor Dahdaleh did not dispute that he paid £38m to Sheikh Isa bin Ali al-Khalifa, Alba’s former chairman and a close adviser of the prime minister, to win $3bn of contracts for companies including Alcoa of the US. Mr Dahdaleh’s lawyers argued in court, however,...
The Oman Aluminium Rolling Company (OARC) officially opened its manufacturing facility under the auspices of Dr Mohammed Hamad Al Rumhi, Minister of Oil and Gas, here yesterday. The ceremony was attended by Hilal Al Kharusi, Chairman of the OARC, and Buddy Stemple, CEO of the OARC, along with higher government official delegates and representatives of private sector organisations. Owned by Takamul Investment Company with a total cost of OMR148 million, the OARC plant is one of the largest added value projects in the aluminium processing industry at the Sohar Industrial Area. The annual capacity of the plant is 140,000 tonnes of multi-purpose aluminium sheets which are to be sold in the local markets and exported to the Middle East, Asia, Europe, Australia, North and South America. The...
Brazilian aluminium exports fell sharply year-on-year in November after traditional customers like Japan and Switzerland reported no trade in the month, and domestic demand increased. Volumes sent abroad totalled 10,260 tonnes, from 41,782 tonnes in November 2012. Revenues in the month totalled $19.27 million, compared with $82.51 million a year ago. Exports from January to November amounted to 357,276 tonnes, down 21.5% year-on-year. From the 10,260 tonnes exported in November, 9,803 tonnes were shipped to the Netherlands. Additional material was sent to South Korea (406 tonnes) and Colombia (51 tonnes). Japan, traditionally the main destination for Brazilian aluminium, reported no trade, in comparison with 17,937 tonnes in November 2012. No volumes were sent to Switzerland, which...
Aluminium buyers in Japan, Asia’s largest importer, agreed to pay a fee matching a record to producers in the first quarter as demand picks up in China, three executives familiar with the situation said. The fee for the three months starting in January was set at $255/tonne over the London Metal Exchange cash price, said the executives, who represent buyers and sellers and asked not to be identified because they are not authorised to speak to the media. That matches the record high reached in the fourth quarter of 2012last year. China, the world’s largest consumer, accelerated purchases of the metal to take advantage of a price drop in the London market to an almost four-year low in June, said partner at research company Market Risk Advisory Company in Tokyo, Naohiro Niimura. Chinese...
Noranda Aluminum is one of today's worst performing low-priced stocks, down 7.8% to $2.37 on 1.1x average daily volume. Thus far today, Noranda Aluminum has traded 409,000 shares, vs. average volume of 376,000 shares per day. The stock has underperformed the Dow (-7.8% to the Dow's -0.5%) and underperformed the S&P 500 (-7.8% to the S&P's -0.2%) during today's trading. Noranda Aluminum Holding Corp is an integrated producer of aluminum products, as well as rolled aluminum coils. The Company produces aluminum products in the form of billets, rods and sows, used mainly for building construction, architectural and transportation applications. Noranda also produces foil and light gauge sheet products from its rolling mills. In the past 52 weeks, shares of Noranda Aluminum have traded between...
Aluminium Bahrain, also known as Alba, has said it is on track to exceed the production-record of 890,000 metric tonnes set last year. The company described 2013 as "an exceptional operational performance despite tough market conditions". Chairman Mahmood Hashim Al Kooheji said in a statement: "Alba continues to push the limit on operational improvement with the launch of the Project Titan cost improvement programme. "We feel Project Titan will not only be a key differentiator but will also give the company a cutting-edge to maintain its competitive position in this industry," he added. Last month, Alba swung to a third-quarter net profit on higher sales to Saudi Arabia. The owner of the world's fourth-largest aluminium smelter said net profit for the three months to September 30 was...
Aluminum prices in London fell for the first time in a week, pacing losses among industrial metals, amid prospects for a U.S. budget accord and speculation that the Federal Reserve will scale back monetary stimulus. A budget deal is on track for approval by Congress, ending a cycle of spending standoffs that culminated in the 16-day partial government shutdown in October. The Fed will probably start paring $85 billion in monthly bond purchases following a meeting next week, according to 34 percent of economists surveyed by Bloomberg on Dec. 6, up from 17 percent a month earlier. “That’s a very big deal for base metals because these markets have been inflated artificially by the Fed printing money,” Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone...
Alcoa chairman and ceo Klaus Kleinfeld has been named to China’s Global CEO Council, the company said. The council of 15 business leaders, founded by the Chinese People’s Association of Friendship with Foreign Countries, discusses foreign investment, innovation and sustainability with Chinese premier Li Keqiang and other senior government officials, the Pittsburgh-based aluminium producer said on Thursday December 12. The move comes as Alcoa sees “significant opportunity” to provide value-added products to modernising sectors of China’s economy, including the aerospace, automotive and packaging markets, Kleinfeld said in a statement. Alcoa’s value-added gains in China include its fastening systems unit signing a contract with Commercial Aircraft Corp of China Ltd (Comac) to supply its...
The Aluminum Association has finalized the 2013 edition of Aluminum Standards and Data. The first update in more than four years, Aluminum Standards and Data 2013 is the preeminent reference for aluminum mill product standards and the most complete source of information on wrought aluminum. The book is available for pre-order purchase from the Aluminum Association bookstore at www.aluminum.org. “Aluminum Standards and Data 2013 is a critically important reference for the entire aluminum industry,” said Layle “Kip” Smith, President and CEO of Noranda and Chairman of the Aluminum Association. “Our technical standards create the backbone of a vital communication system that facilitates the production, sale and use of our metal in the United States and around the world.” Key updates in this...
Plant managers for Century Aluminum of Kentucky's Hawesville and Sebree smelters told about 40 members of Owensboro Noon Rotary that the company is interested in growing its operations to create more jobs. But the company's recent move to buy cheaper power in the open wholesale market did not create a competitive advantage, they said.
The LME cash price fell below $1,700/mt this week, marking its lowest level in nearly four-and-a-half years. Meanwhile, aluminum fundamentals do not appear to be deteriorating. Global days supply held at 52 in October. On the one hand, days supply is close to its lowest level during the global economic recovery. On the other hand, it is still quite high historically. A major reason why days supply has declined is the rise in aluminum demand, which we estimate is up nearly 6% so far this year. The U.S. is doing its part to support demand. Aluminum imports of ingot, scrap and mill products into the U.S. and Canada (excluding cross-border trade) totaled 362 million pounds during October 2013, down 3.3 percent from the October 2012 total of 375 million pounds. Exports totaled 689 million...
LME-registered aluminum stocks in the United States are falling apparently, down 6% so far this year to around 1.8 million metric tons, according to Reuters, the lowest since July 2009. This is all the more remarkable as global inventories have risen to new records with the market still in massive surplus. Inventory in the US had fallen by as much as 13% through mid-November, the paper noted, but recovered slightly in recent weeks. About one-third of the 5.5 million metric tons in the LME system is now stored in the United States, the smallest share since before the world economic crisis hit five years ago: But before we think falling LME inventory is a sign that the LME’s rule changes have solved the problem of metal hoarding in US warehouses, we need to see where that metal is going –...
Alcoa Inc. is involved in the production and the management of fabricated aluminum, primary aluminum as well as alumina combined, via the company’s participation in mining, refining, technology, smelting and fabricating as well as recycling. The company has always been a giant in its field and it manages to wade through the deepest swamps no matter how the market storms batter it. Now it is manufacturing the patented Alcoa 951 bonding-process at the request of various automakers. This process is also available to the company’s rivals who are involved in supplying aluminum products to the automobile industry. Alcoa Inc. coats aluminum in order to prevent corrosion and it also prepares the surface for the adhesives. This will go a long way in helping automobile makers produce additional...
A Midwest aluminum smelter that was prominent news in Columbia Falls 40 years ago is back in the news today. And a possible pattern is emerging — a giant parent company favoring one plant over another. Alcoa was hired to build the Sebree smelter for Anaconda using cutting-edge smelting equipment, and dozens of experienced aluminum workers left the Flathead to help get the new plant up and running. But now the Columbia Falls Aluminum Co.’s owner, global trading giant Glencore, which recently merged with global mining giant Xstrata, has acquired a major interest in the Sebree plant through its holding company, Century Aluminum Co. Century paid Rio Tinto Alcan, Sebree’s fourth owner, $61 million for the Kentucky smelter, which is about 20 percent larger than CFAC. According to the Century...
China's production of refined copper rose 2.6 percent from October to a third straight monthly record in November due to increased profits at smelters, while primary aluminium output also hit a record for the second straight month. Data from the National Bureau of Statistics showed on Wednesday that production of refined copper hit 654,803 tonnes in November, compared with 637,958 tonnes in the previous month. The November output was up 23.46 percent from a year ago. China is the top producer and consumer of refined copper and primary aluminium. The record monthly output reflected higher profits at China's copper smelters after the value of their raw material concentrate had fallen, said Yang Xiaoguang, analyst at Jinrui Futures, a subsidiary of Jiangxi Copper. Jiangxi Copper is the top...
