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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LME aluminium is expected to retest support at $1,842 per tonne, after it completes its pullback towards $1,860. The support is provided by the 38.2 percent Fibonacci retracement on the fall from the Aug. 19 high of $1,949 to the Sept. 17 low of $1,775.50. It has caused a pullback towards the lower channel line of a rising channel. The metal's escape from the channel signals it has moved into the price band of a duplicated channel, the lower channel line of which points to a target at $1,800. A more realistic target could be $1,816, the 23.6 percent retracement.
The Akwa Ibom House of Assembly on Friday condemned the alleged destruction of Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi Local Government Area of the state by UC RUSAL, the Russian firm currently in charge of the management of the company. The lawmakers made the criticism at a plenary session, following a motion on a matter of urgent public importance moved by Assemblyman Aboh Uduyok, member representing Ikot Abasi/Eastern Obolo Constituency. Mr. Uduyok accused RUSAL of systematically destroying all the assets of ALSCON, which ought to have been a veritable tool of job creation for the youths of the state. He alleged that RUSAL had sold the vital components of ALSCON's machineries, including stem rods, anodes and Bussbarr/Riser, used in the manufacturing of steel ingots....
Russia's Rusal, the world's largest aluminum producer, is running its mills at full capacity for billet, slab and foundry alloy production but cutting ingot output, Rusal Marketing CEO Steve Hodgson said in an interview Friday in Tokyo. Later this month, Rusal will start negotiations with Japanese buyers on 2014 contracts for billet and other value-added products, or VAP. Hodgson said he expects a sellers' market. Rusal said previously it started to focus on VAP in 2012. VAP prices were generally $150-200/mt higher than the standard 99.7%-aluminum ingot, market sources said. Rising demand from Japan and elsewhere has expanded Rusal's VAP output to 42.8% of the company's total aluminum production in the April-June quarter, compared with 34% of sales in 2010. "Our VAP production is running...
Nippon Asahan Aluminium (NAA) has sent a letter to the Indonesian government asking for the settlement of a dispute over the takeover of PT Indonesia Asahan Aluminium (Inalum) through international arbitration. In a press statement received by ANTARA here on Friday, the Ministry of Industry said the government received the letter on October 31, 2013 at 5.44pm notifying the government that the Japanese company wished to seek a settlement through the International Center for Settlement of Investment Dispute (ICSID). "We received the letter unexpectedly and we accepted it to mean a change to the takeover mechanism that has, so far, been agreed to during negotiations," the statement said. Following the notification, the government will need to change the compensation payment plan that it had...
Century Aluminum is set to issue its Q313 quarterly earnings data on Monday, November 4th. Analysts expect the company to announce earnings of ($0.30) per share and revenue of $402.70 million for the quarter. Century Aluminum opened at 8.68 on Friday. Century Aluminum has a 52 week low of $6.02 and a 52 week high of $10.60. The stock’s 50-day moving average is $8.50 and its 200-day moving average is $8.80. The company’s market cap is $769.1 million. Several analysts have recently commented on the stock. Analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Century Aluminum in a research note to investors on Tuesday, October 8th. On a related note, analysts at Cowen and Company cut their price target on shares of Century Aluminum from $13.00 to $10.00 in a research...
Fishermen in Batubara regency, North Sumatra, have said they are concerned with seawater contamination caused by waste containing cyanide allegedly from PT Indonesia Asahan Aluminium (Inalum). Anuar, 53, a fisherman from Perupuk village, said he often found dead fish, such as local fish gelamo, rays and Indian salmon, floating on the surface of the sea when he went fishing. He, however, said he did not know what had caused the deaths of all the fish. Such discoveries, he said, had made many fishermen reluctant to go fishing. He said the government should immediately address the problem so that fishermen could still make both ends meet from fishing. North Sumatra University environmentalist Jaya Arjuna said he had done a study on the polluted seawater off the coast of Batubara. He said...
State-Owned Enterprises (SOE) Minister Dahlan Iskan has guaranteed that PT Inalum will not face raw material supply problems after it is taken over from Japan by his ministry on November 1, 2013. "The House of Representatives (DPR) and the government have approved the acquisition of Inalum and state firms are ready to manage it," Dahlan Iskan said after opening an Annual Pertamina Quality Awards 2013 function at the headquarters of state-owned oil and gas firm Pertamina here on Wednesday. Dahlan Iskan said that based upon the master agreement on its acquisition, Inalum will be 100 percent owned by the Indonesian government. The minister noted that some have expressed doubts about Inalum facing difficulties in obtaining raw materials because Inalum has been supplied with raw materials from...
Aluminium companies should use a slow 2014 to upgrade, expand and hire new staff to gear up for boom times in the following years, an economist has said. Next year will be “off” compared with 2013 as demand slackens from the middle of 2014 into the first quarter of 2015, Alan Beaulieu, president of the Institute for Trend Research consultancy, said at a recent Metal Service Center Institute (MSCI) aluminium products division conference in Florida, USA. “If you project that your growth is going to be the same as it was 2013, you’re going to be wrong,” he added. North America will not fall into a recession, but Brazil and Europe will, Beaulieu said. “The world will soften ... and it will affect [the aluminium] industry,” he said. Beaulieu’s view contrasted with those of several aluminium...
Premier Pauline Marois said Wednesday she would enter negotiations with Alcoa Inc., which has said its three Quebec smelters would no longer be competitive if Hydro Québec raises its electricity costs by a reported 60 per cent. "We should reassure Alcoa employees, not scare them," Marois said in repsonse to opposition questions at the National Assembly. it was in response to media reports that Alcoa — which employs 3,300 at three Quebec aluminum smelters in Bécancour, Deschambeault and Baie-Comeau - could shut down in 2015. She said talks with the company are underway but she would not negotiate in public. Marois told the assembly there are "discussions at the highest level" between Alcoa and the Quebec government, led by high-ranking civil servant Jean St-Gelais, and Finance Minister...
Lack of adequate coal supply may hit Hindalco Industries’ expansion plans. In some locations, the company may have to pay $300 per tonne extra for acquiring coal from the open market resulting in erosion of its profits significantly. In some others, the company may have to re-evaluate its investment strategies. The company in August said that it plans to produce around three million tonnes of alumina and one million tonne of aluminium from 2014, as production from the company’s Mahan and Utkal Alumina will come on-stream. Analysts said the company’s production cost would escalate significantly to execute the expansion plans, as it has not yet secured captive coal. The stage II clearance of Mahan coal block is yet to come while the coal blocks in Odhisa have come under the scanner of CBI...
Aluminum advanced, trimming a weekly loss, as China’s manufacturing expanded more than estimated in October, boosting the demand outlook for the industrial metal in the world’s biggest user. The contract for delivery in three months on the London Metal Exchange rose 0.5 percent to $1,869 a metric ton by 11:02 a.m. in Tokyo. The metal fell 0.7 percent this week, after gaining for a fourth straight month in October. Copper in London rose 0.3 percent to $7,267.25 a ton. The Purchasing Managers’ Index was 51.4, the highest in 18 months, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today. The reading compares with the 51.2 median estimate in a Bloomberg News survey and 51.1 in September. A number above 50 indicates expansion. “Today’s manufacturing...
Taking weak cues from global markets, aluminium prices fell marginally by 0.13%, to Rs 113 per kg in futures trading today as speculators offloaded positions. Besides, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in October declined by 15 paise, or 0.13%, to Rs 113 per kg in business turnover of 345 lots. The metal for delivery in April fell by a similar margin to trade at Rs 114.50 per kg in 13 lots. Analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the London Metal Exchange on speculation that the US Federal Reserve will begin scaling back monetary stimulus as the economy improves.
Noranda Aluminum Holding Corporation announced today that its Board of Directors has declared a regular quarterly dividend of $0.01 per share to be paid on December 5, 2013 to shareholders of record as of November 12, 2013. "In the context of the current aluminum price environment, we have undertaken a strategic review of our capital allocation," said Layle K. "Kip" Smith, Noranda's President and Chief Executive Officer. "The conclusion of this review is a decision to retain more of our cash to make accretive investments in our business and maintain a strong balance sheet in the face of below average LME levels. Accordingly, we have decided to reduce our quarterly dividend in support of these strategic objectives and remain committed to the prudent return of capital to shareholders."...
A new venue was a hit for Aluminium Industry annual dinner, with 200 members and guests of the Aluminium Federation joining together to celebrate the achievements of the UK Aluminium industry. For the first time the Aluminium Industry Annual dinner moved out of central London, to Tortworth Court in Gloucestershire. Will Savage, CEO of the aluminium Federation commented: “We are delighted with the support this year with 200 members and guests attending the dinner. Moving the dinner outside central London has been well received and the wonderful facilities at Tortworth Court have provided an excellent backdrop to this important event.” “We took the opportunity offered by the venue to combine the occasion with a Members Briefing the morning after, which included speakers from the European...
Aluminium Bahrain B.S.C. (Alba), in a tangible demonstration of its support of Bahrain's role as a key investment destination, sponsored the Invest in Bahrain Forum & Exhibition 2013, which took place at the Bahrain International Exhibition & Convention Centre on Wednesday, October 30, 2013. Held under the patronage of His Royal Highness the Prime Minister, Prince Khalifa bin Salman Al Khalifa, Invest in Bahrain Forum & Exhibition 2013 was organised by the Ministry of Industry & Commerce Kingdom of Bahrain. Commenting on Alba's sponsorship of the Invest in Bahrain Forum & Exhibition 2013, the Chairman of Alba's Board of Directors, Mahmood Hashim Al Kooheji said: "Bahrain has been ranked as one of the world's freest economies and praised for its investor friendly and forward thinking...
Noranda Aluminum Holding Corporation today reported results for third quarter 2013. "We are proud to report another quarter of solid financial results and reliable operational performance," said Layle K. "Kip" Smith, Noranda's President and Chief Executive Officer. "We continue to see stable overall demand for our key aluminum products and to realize the positive impact of our actions to drive profitability and free cash flow in today's environment. During the third quarter we generated over $6 million in net cash, despite seasonal peak power premiums and further declines in aluminum prices, and continue to believe in the industry's long-term fundamentals." "Having surpassed our previous $140 million CORE productivity target during second quarter 2013, we are pleased to announce a new...
Dubai, United Arab Emirates: Dubai Aluminium (" DUBAL ") - the state-owned corporation that owns and operates the world's largest primary aluminium smelter using pre-bake anode technology - will again express its commitment to the development of the Middle East as a global aluminium hub by participating in the 17th International Arab Aluminium Conference and Exhibition ("ARABAL 2013"). Hosted by Emirates Aluminium ("EMAL") - in which DUBAL holds a 50:50 share with Mubadala Development Company ("Mubadala") - ARABAL 2013 will be held at St Regis Hotel, Abu Dhabi from 5 to 7 November this year. The event marks the 30th anniversary of the inaugural ARABAL Conference and Exhibition in 1983; and is the fifth of its kind to be staged in the UAE. DUBAL has previously hosted four ARABAL events,...
Spot premiums for primary aluminum imported into Japan are not affected by Saudi Arabia's Ma'aden smelter closing one potline, but buyers expressed concern Wednesday that the contract premiums for the first quarter of 2014 may be impacted. On October 16, operator Alcoa said the 740,000 mt/year Ma'aden smelter had shut one of two potlines due to pot instability. The potline is expected to be back online between Q1 and Q2 of 2014, according to Alcoa. The smelter was brought on stream in December last year. Japan imported 35,307 mt of aluminum from Saudi Arabia over March-September 2013. The first shipment from Ma'aden arrived in March. Japanese trade and consumer sources said most of the 35,307 mt imported, handled by about three trading firms, were not for direct sales to end-users as the...
