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 government finally secured approval from the House of Representatives on Wednesday to take over PT Indonesia Asahan Aluminium (Inalum) from Japanese consortium Nippon Asahan Alumunium (NAA) after a pompous political drama. The Jakarta Post’s North Sumatra correspondent Apriadi Gunawan reported on the concerns of local people and Inalum employees in regard to the takeover plan, which will take place on Friday. Employees of the North Sumatra-based aluminum producer PT Indonesia Asahan Aluminium (Inalum) are reducing their activities ahead of the government’s takeover of the company from the Japanese consortium Nippon. Most of the 1,340 homes in a housing complex for the company’s employees — located approximately 15 kilometers from the company’s smelting plant in Kuala Tanjung, Batubara...
Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, said a loss in the third quarter widened from a year earlier as prices dropped. Net loss was 1.22 billion yuan ($200 million) in the three months ended Sept. 30, compared with a loss of 1.08 billion yuan a year earlier, the Beijing-based company said today in a filing to the Shanghai stock exchange. Sales climbed 22 percent to 45.4 billion yuan. Aluminum Corp., known as Chalco, is seeking to trim losses by controlling costs and disposing of unprofitable assets. It sold its aluminum fabrication business in June to its parent and said this month it plans to sell its stake in an African iron ore venture for about $2.07 billion. The stock gained 2 percent to HK$3 in Hong Kong at the close, matching the 2...
U.S. Aluminum giant Alcoa is threatening to close all three of its smelters in the province of Quebec, Canada, as electricity supply cost for the plants is expected to jump 60%, TVA network reported late Tuesday (in French). According the news outlet, Alcoa issued a 12-month notice to Hydro-Québec, which puts and end to its electricity contract for Bécancour, Baie-Comeau and Déschambault. The miner, which swung to a third-quarter profit earlier this month, has been receiving power there at a discount price. But as of January 1, 2015, the annual electricity bill will go up from 350 million to $570 million. Together the plants employ a total of 3,300 people. The news comes on the heels of a report that says this year, for the first time in a decade, mining investment in Quebec is expected...
Aluminium Bahrain B.S.C. (Alba)'s Chief Executive Tim Murray announced the appointment of Gopichand Talreja as the new Manager of Workshop & Maintenance Services. Mr. Talreja has been with Alba since 1992 when he joined the planning section of the Carbon Maintenance Department during the Line 4 commissioning phase. He earlier worked with Indian Aluminium Company Limited (Indal) and has over 31 years' experience in the aluminium industry. Commenting on the new managerial appointment, Alba's Chief Executive Officer, Tim Murray said: "The Workshop & Maintenance Services provides crucial support to our operations and play an important behind-the-scenes role in strengthening Alba's reputation as one of the world's leading smelters. I like to congratulate Gopichand on his appointment as the...
Aluminium prices today edged higher by 0.71% in futures trade mostly in line with a firming trend in the global markets. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in October rose by 80 paise, or 0.71%, to INR 113.60 per kg in business turnover of 156 lots. Similarly, the metal for delivery in November traded higher by 70 paise, or 0.61%, to INR 115.15 per kg in 81 lots. Market analysts said the rise in aluminium prices in futures trade was mostly attributed to a firming trend in the global markets and rising demand at spot markets here.
Chinese aluminium output is likely to hit a record 24 million tonnes this year, a research director at the country's top producer of the metal said on Wednesday, suggesting production may ramp up towards year-end. China's growth in aluminium output means it has had little need for imports from global markets where stocks are sitting at record highs, with prices falling to a four-year low below $1,800 a tonne in June. Output in the world's top aluminium producing nation is still running below total capacity, seen at 32 million tonnes by the end of this year, said Zhonglin Yin, director of the alumina division in the Zhengzhou Research Institute of Chalco. The Aluminum Corp of China Ltd is typically referred to as Chalco. The country's aluminium production grew by almost 9 percent to 16.2...
Offers for China's domestic spot aluminum alloy ADC12 remained generally steady Tuesday, while the physical demand stayed healthy after the pickup seen the previous week, industry sources said. Domestic offers were heard around Yuan 16,000/mt ($2,619/mt) ex-works, unchanged from last week. Platts kept its weekly China domestic ADC12 prices steady at Yuan 15,800-16,100/mt ex-works Tuesday, unchanged from the previous Tuesday. "The domestic demand is still doing fine due to the end-users' rush to stock up for year-end requirements. I expect demand to pick up even more in November," said an east China-based producer, who indicated offers at Yuan 15,800-16,000/mt, unchanged from last week. "Supply from the Zhejiang province has dropped. This, however, has helped to lift demand from other...
According to figures released by the International Aluminium Institute (IAI), the global aluminium inventories at the end of September slipped by 4.7% over the previous month. The total global aluminium stocks at the end of September amounted to 2.130 million mt. The September inventories were 106,000 mt down when compared with the adjusted August inventory of 2.236 million mt. The inventories fell 4.7% month-on-month in September. Year-on-year, the total global aluminium inventories fell by 8.7% from revised stock figures of 2.333 million mt recorded during September 2012. The total world unwrought aluminium inventories at the end of September amounted to 1.096 million mt. The September inventories were 86,000 mt down when compared with the adjusted August inventory of 1.182 million mt....
The Kentucky Public Service Commission has approved a rate increase for customers of a western Kentucky utility that sought the increase to absorb the loss of its biggest customer, an aluminum smelter. The PSC authorized Big Rivers Electric Corp. to seek an additional $54.2 million annually from customers. The PSC says in a statement the authorization is about $20 million less than what Big Rivers requested. The increase means the average customer's monthly bill will go up by about $17. Century Aluminum's Hawesville smelter consumed about 40 percent of the power generated by Big Rivers before ending its relationship with the utility in August. Another Century Aluminum smelter, in Sebree, is scheduled to depart the Big Rivers system in January. Big Rivers serves about 112,000 customers in...
Global unwrought aluminum inventories at the end of September were down 86,000 mt from August and down 210,000 mt from September 2012, according to figures released Monday by the International Aluminium Institute. Unwrought inventories totaled 1.096 million mt at the end of September, down from a revised 1.182 million mt in August and a revised 1.306 million mt at the end of September 2012. Total aluminum inventories at the end of September were down 106,000 mt at 2.130 million mt from a revised 2.236 million mt in August, and down 203,000 mt from a revised 2.333 million mt at the end of September 2012, the IAI said.
Investors are again locking up aluminium in warehouses as collateral for financing deals, driving up premiums consumers must pay to to obtain metal quickly, months after the London Metal Exchange proposed plans to free up backlogged metal. This month the premiums, the amount paid above LME prices to withdraw physical aluminium from the storage network overseen by the exchange, have climbed nearly 5 percent. The LME, which in July put forward ideas for consultation, said on Friday it had made a decision "in principle" on reforming its global warehouse system, which is blamed for inflating metal costs and has drawn scrutiny from U.S. and European regulators. The LME, the world's biggest marketplace for industrial metals, has yet to release details of Friday's decision. Pressure for it to...
More than 800 visitors from across the aluminium industry attended the CIAC event last week featuring AluSolutions, INALCO, REGAL Students'day (JER) 2013, AAC cocktail party and the exhibition. All were well received and the events can boast a combined attendance of more than 800 participants from across the aluminium industry worldwide. While the AluSolutions exhibition provided a platform to discuss solutions to common problems and explore the latest developments and solutions for aluminium production and processing, the AluSolutions conference ran a full two-day programme, with sessions dedicated to sustainability in the aluminium industry. Visitors were able to meet with more than 70 exhibiting companies, which included the likes of Alcoa, Rio Tinto Alcan, Wagstaff, Aluminerie...
Aluminum output in China is soaring, and according to the Ministry of Industry and Information Technology, approximately 10 million tons of capacity are being built. Meanwhile, in the West, run rates are finally coming down. Delay in closing plant among western smelters have finally turned into a consistent downward trend. September was 620,500 tons lower than the end of 2012, with cutbacks announced since the start of the year, totaling 1.2 million tons. The largest are generally leading, and Rusal is now cutting back some 648,000 tons or 15% of its capacity. As the rest of the world struggles to bring the market closer to balance, notwithstanding the 10 million tons of metal sitting in exchange and off-market warehouses, China continues to add ever more capacity. So far, this has been...
Aluminium touched the highest level in two months on Monday as traders said investors were betting that the London Metal Exchange (LME) would make changes to warehouse rules that would boost the price of the metal. Three-month aluminium on the LME climbed to a session high of $1,900 a tonne, the highest since Aug. 23. It failed to trade in closing open outcry activity but was last bid at $1,895, up 0.8 percent. The LME said on Friday its board had made a decision on whether to overhaul its controversial warehousing network, which is plagued by backlogs especially in aluminium, but it would reveal that decision later. "There's a belief that when the LME changes come out, it will have a positive effect on aluminium," a trader said. Aluminium volumes were the highest of any LME metal on...
The council members will share their insights and views on the challenges facing today's corporations and the business community. The CFOs, who collectively manage more than $2.9 trillion in market capitalization, will also take part in quarterly sentiment surveys which will provide insight into the health of the global economy, according to CNBC. Following the launch of the Council in the U.S., the new members will make appearances on CNBC's flagship morning program Squawk Box, on its regional TV networks in Asia, the Pacific region, Europa, the Middle East and Africa, as well as online at cfocouncil.cnbc.com. At right is a link to an extensive TV interview with Eivind Kallevik on CNBC, as well as a short introductory interview with Kallevik and other CFOs, made in connection with the...
India’s National Aluminium Co (Nalco) sold 3,000 tonnes of aluminium ingot in a tender at a premium of $227 per tonne over the LME cash price on a cif Singapore basis, according to two trader sources. The company’s tender was for delivery of 500 tonnes per month from November to April, a trader said. “I can’t believe why anyone will pay that high an amount,” he said, adding that it went at those levels because of a smaller tonnage. “Nalco’s premium last week was at plus $225 per tonne levels, we don’t know who won it though,” a second Asian trader source said. Company officials at Nalco were not immediately available for comment.
It’s hard to understand how the Chinese market price for aluminum can be so strong and the growth in new smelter capacity so enduring when the global aluminum market is oversupplied. However, investment in new capacity is one thing. Prices are another. Some look at SHFE prices that are way above LME and scratch their heads in wonder. SHFE prices for aluminum are in the region of 14,470 RMB per metric ton this week, a price that includes 17% domestic vat, but equates to $2,379 per metric ton at 6.25 RMB to the dollar. Meanwhile, the LME is at $ 1,844 per metric ton. However — and this is what’s riling metals consumers in the West — the LME price is not representative of the true cost of primary aluminum in the market. To actually get delivery of metal, consumers have to pay close to a...
What was once the largest private employer in its region is now Ohio's largest industrial layoff of the year. Republican Gov. John Kasich is facing criticism over the indefinite shuttering of Ormet Corp., an aluminum smelting giant along the Ohio River and the onetime largest customer of American Electric Power. About 1,000 workers -- mostly unionized steelworkers -- are out of work. State utility regulators recently rejected key portions of Ormet's proposal for dealing with hefty electric costs as it struggles against bankruptcy. The company and its union fault Kasich for not intervening passionately enough in Ormet's case before the Public Utilities Commission. Governors appoint the board, but it acts independently. Other observers said Ormet was doomed by the economic realities of huge...
