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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Commodity trader Trafigura said it had no plans to sell its warehouse operations, responding to speculation it wanted to spin off the business after the London Metal Exchange (LME) tightened rules to reduce backlogs in the sector. Trafigura bought warehousing company North European Marine Services (NEMS) in 2010 and later consolidated all of its warehousing and logistics activities into its subsidiary Impala. The LME, the world's biggest marketplace for industrial metals, detailed a package of proposals in November to slash queues to access metal following complaints, lawsuits and regulatory pressure. The new regulations to take effect from April have the potential to reduce profits for warehouse companies, which have generated rental income from metals caught up in backlogs. JPMorgan...
Aluminium prices edged up by 0.41% to INR 110.55 per kg in futures trade today as participants enlarged positions, supported by a firming trend overseas. Strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for January delivery inched up by 45 paise, or 0.41%, to INR 110.55 per kg in business turnover of 3 lots. Likewise, the metal for delivery in December traded higher by 35 paise, or 0.32%, to INR 108.80 per kg in 72 lots. Marketmen said apart from increased domestic demand, a firming global trend helped aluminium futures to trade higher.
Copper futures have settled near one-month highs on the London Metal Exchange (LME), buoyed by hopes for improving Chinese metals demand and a softer US dollar. At the PM kerb close on Tuesday, LME three-month copper was up 0.4 per cent at $US7,158.50 a metric ton. The metal earlier peaked at $US7,188 a ton, its highest price since November 11. Aluminium closed 0.6 per cent higher at $US1,803 a ton. Copper prices on Tuesday benefited from a solid batch of Chinese economic data, said analysts. Value-added industrial output in China rose 10 per cent in November from a year earlier, according to data from the National Bureau of Statistics. This was in line with the median economist forecast, but a touch less than the 10.3 per cent on-year gain recorded in October. November retail sales,...
Giant global mining company Rio Tinto said on Tuesday it postponed studies related to a proposed $4-billion aluminium plant in Paraguay due to bad market conditions, putting what would be the country's biggest-ever foreign investment in jeopardy. The plant would have been Rio Tinto's largest worldwide, with the capacity to produce 674 000 t/y. It had been scheduled to start operating in 2016. "This was a difficult decision to make, given that we have very much enjoyed the professionalism and collaboration of the Paraguayan authorities," the company's Canadian subsidiary Rio Tinto Alcan said in a statement. "Having said that, we cannot avoid the reality of current market conditions." Finance minister German Rojas told Reuters that the decision was driven by the company's need to cut costs...
A Japanese aluminum buyer and a global producer said Wednesday they have agreed to set the contract premium for the first quarter of 2014, at $255/mt plus London Metal Exchange cash, CIF Japan basis, up 3.8% from the current quarter. The deal was for over 500 mt/month shipments of standard primary aluminum ingot -- meeting LME P1020A specifications -- to be delivered to the main Japanese ports of Yokohama, Nagoya or Osaka, over January-March 2014. The parties involved in the deal did not want to be named. Around 15 Japanese companies and four overseas suppliers are continuing with the negotiations, which started on November 22. Russia's Rusal has offered at $270/mt plus LME cash, CIF Japan. Rio Tinto Alcan reportedly offered at $256/mt plus LME cash CIF Japan, and US' Alcoa at $255/mt...
EU Legislation is “stifling” the aluminium industry’s competitiveness in Europe, a leading industrial body has said. The Aluminium Federation (ALFED) spoke to the Information Daily ahead of a Breakfast Briefing tomorrow, organised by the All-Party Parliamentary Group for the UK Aluminium Industry. Will Savage, ALFED’s Chief Executive, said he was concerned that the burden of legislation was stifling investment, and called on the EU Commission to create a long-term industrial strategy which would allow the industry to remain a valuable asset in the European market. A recent study by the Centre for European Policy Studies (CEPS), on behalf of the European Commission, analysed the impact of EU regulations on the aluminium market. The report revealed that EU legislation is impacting...
In a major step in Research & development, National Aluminium Company Limited (NALCO) has commercialised a laboratory-scale R&D process. In this regard, an MoU between National Aluminium Company Limited (NALCO) and M/s Green Energy Resources was signed here today. The R&D process is named ‘Development of Heat Treatment Process for Destruction of Toxic Cyanide and Recovery of Valuables from Spent Pot Lining Material (SPL). On behalf of the company, S K Dash, Executive Director (P&T) and from M/s Green Energy Resources, N K Agrawal, Partner, signed the MoU, a Nalco release said. Ansuman Das, Chairman-cum-Managing Director and P K Biswal, Partner, Green Energy Resources were also present on this occasion. The process was developed in a collaborative effort between NALCO and Jawaharlal Nehru...
Aluminium Bahrain B.S.C (Alba) reiterated its commitment towards supporting initiatives that help boost Bahrain’s economy by providing a sponsorship of BD 3000 towards the 4th Small and Medium Enterprise (SME) Conference & Exhibition, which will be held from December 10 to 12, 2013 at the Crowne Plaza Hotel – Conference Centre, Kingdom of Bahrain. Held under the patronage of His Excellency Dr. Hasan bin Abdulla Fakhro, Minister of Industry and Commerce, Kingdom of Bahrain and organised by Bahrain Small & Medium Enterprises Society, the theme of this event is "Entrepreneurial Ecosystem for SMEs in GCC". The cheque was presented by Alba’s Acting Director for Administration, Abdul Rahman Janahi and Manager, Procurement and Warehousing, Fadhel A. Wahab to the President of Bahrain Small &...
Judge Tony Couch has reserved his decision in the NZ Aluminium Smelters employment court appeal. Yesterday, Tiwai Pt aluminum smelter management said the company would have to pay workers almost $20 million if an Employment Relations Authority ruling is upheld. In May, 64 Engineering, Printing and Manufacturing Union members working at the Tiwai Point aluminium smelter won an Employment Relations Authority case they took against New Zealand Aluminium Smelters. NZ Aluminium Smelters appealed the decision in the employment court this week. The dispute centres on the interpretation of lieu days after workers at the plant changed from eight-hour shifts to 12-hour shifts in the 1990s. The company continued to provide the 12-hour shift workers with an additional eight hours of paid leave in...
The Indonesian government today formally took over as owner of aluminium producer PT Indonesia Asahan Aluminium (Inalum), Southeast Asia’s only aluminum smelter, ending the 30-year management by a majority-Japanese consortium. Indonesia and Japan signed the Asahan Project takeover agreement at the Industry Ministry in Jakarta, on Monday, Antara news agency reported. The company’s takeover was planned to be completed on Oct. 31; but protracted negotiations had delayed the signing of the agreement. Asahan Project is an Indonesia-Japan friendship partnership that will develop a hydroelectric plant (PLTA) in Toba Samosir regency and an aluminum smelting factory in Kuala Tanjung, Batu Bara regency, North Sumatra. According to Asahan Project’s master agreement, Inalum’s operational period...
Taking weak cues from global markets, aluminium prices fell to INR 106.75 per kg in futures trading today as speculators offloaded positions. Further, sluggish demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in December declined by 55 paise, or 0.51%, to INR 106.75 per kg in business turnover of 153 lots. Similarly, the metal for delivery in January 2014 contracts traded lower by 50 paise, or 0.46%, to INR 108.50 per kg in 13 lots. Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange and subdued spot demand.
The government has officially taken over PT Indonesia Asahan Aluminium (Inalum) from Nippon Asahan Aluminium Co. Ltd., ending the Japanese consortium’s 30-year contract in Southeast Asia’s largest aluminium smelter. With the takeover, the government aims to double the company’s output capacity. The decision to terminate the contract was made in 2010. But, prolonged negotiations over the compensation value for the Japanese investors were only settled in November, in which it was decided that they would receive US$556.7 million. “Inalum is currently the biggest producer in Southeast Asia. After the takeover, we must not worsen [its performance],” Industry Minister MS Hidayat said after a ceremony marking the takeover. The government has allocated Rp 2 trillion from the 2012 state budget and...
Norsk Hydro has decided to “increase capital expenditure by almost 40 percent next year to modernise equipment in expectation of accelerating global demand over the next decade,” reports Reuters. “The company’s optimism was tinted with caution, however, as it introduced the latest in a string of cost-cutting programmes after the global economic downturn hit industries from automakers to builders and brought a steady decline in benchmark aluminium prices in recent years.” “Norsk Hydro expects an improving demand outlook to take hold next year and said it would lift capital expenditure to 4.3 billion crowns ($700 million) from an estimated 3.1 billion crowns in 2013.” “‘World aluminium demand outside China is estimated to grow 2 percent in 2013 and 2-4 percent in 2014,’ the company said in...
Hindalco Industries (Hindalco) aims to produce 300-350kt of alumina from Utkal refinery (1.5mtpa alumina refinery) in FY2014 and 1mn tonne in FY2015. In case of Mahan smelter (359ktpa aluminium smelter), the company aims to produce 50-60kt in FY2014 and over 200kt of aluminium in FY2015. The company expects the cost of production of alumina at the Utkal refinery to be at US$180/tonne when the plant ramps up at near-full utilization levels. The grade of bauxite available for the Utkal refinery is 42% alumina content and it has low silica content, thus requiring lower consumption of caustic soda compared to its existing alumina operations. The cost of aluminium production from Mahan smelter is estimated to be US$1,600/tonne without using captive coal. The company stated it is likely to use...
Aluminium Bahrain (Alba) reaffirmed its commitment towards the responsible use of natural resources for the sustained economic growth of the country through the platinum sponsorship of BD7,500 for the 1st Energy Management Conference & Exhibition 2013 beginning today. The three-day event will be held under the patronage of Finance Minister and Minister in charge of Oil & Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa. It is being organised by Bahrain Society of Engineers (BSE) the Gulf Convention Centre, Gulf Hotel. Alba chief financial officer Ali Al Baqali presented the cheque to BSE president Abdulmajeed Al Qassab in the presence of Alba power and utilities director Amin Sultan, acting director for administration Abdul Rahman Janahi and acting manager for human resources and public...
Rio Tinto is planning to invest US$2.7 billion to complete the modernization of its aluminium smelter in Kitimat, B.C., while the company is cutting back on capital spending at projects around the world. “For nearly 60 years, the smelter has been a major impetus for the economic development of northwest British Columbia,” said Jean Simon, president, primary metal, Rio Tinto Alcan. “We are very proud to announce this US$2.7 billion investment to complete the modernization project. This is one of the largest private investments in B.C.’s history and it will ensure the sustainability of the aluminium business in Kitimat for decades to come.” Rio Tinto announced on Dec. 1 that the US$3.3 billion Kitimat modernization project will be completed in 2014. The project involves the demolition of...
Norsk Hydro, one of the world's largest producers of aluminium, will increase capital expenditure by almost 40 percent next year to modernise equipment in expectation of accelerating global demand over the next decade. The company's optimism was tinted with caution, however, as it introduced the latest in a string of cost-cutting programmes after the global economic downturn hit industries from automakers to builders and brought a steady decline in benchmark aluminium prices in recent years. Norsk Hydro expects an improving demand outlook to take hold next year and said it would lift capital expenditure to 4.3 billion crowns ($700 million) from an estimated 3.1 billion crowns in 2013. "World aluminium demand outside China is estimated to grow 2 percent in 2013 and 2-4 percent in 2014,"...
The London Metal Exchange asked a panel of U.S. judges on Thursday to assign a federal court in Manhattan to handle a series of antitrust lawsuits that allege the world's largest metal exchange, two of Wall Street's biggest banks and big commodity merchants conspired to raise the price of aluminum. The venue of lawsuits is sometimes critically important because of the varying levels of experience among judges in different cities, as well as other factors such as convenience for lawyers and witnesses. LME, which is owned by Hong Kong Exchanges and Clearing Ltd , and other defendants including Goldman Sachs Group Inc, JPMorgan Chase & Co and merchants Glencore Xstrata are fighting allegations in about 30 lawsuits that they manipulated the warehousing of aluminum in order to lift the price...
