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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CME Group has a window of just a few months to establish its new aluminium contract before the opportunity is missed, industry consultant Mark Bodner told Metal Bulletin. “CME rightly sees an opportunity,” Bodner said. “A launch before year-end will give a much better chance of success than if it’s delayed beyond that.” Bodner was an aluminium trader at Gerald Metals in 1978 when the London Metal Exchange launched its aluminium contract, and became one of the largest users of the first Comex aluminium contract in the mid-1980s. He later spent 13 years as sales director at United Co Rusal before opening his own consultancy. The opening for a competing CME aluminium contract stems from the investigation into LME warehousing by the Commodity Futures Trading Commission (CFTC) and the lawsuits...
Norsk Hydro, one of the world's biggest aluminium makers, said its July-September core earnings rose more than expected thanks to solid performance at its primary aluminium and power production divisions. At the same time, Hydro adjusted its 2013 forecast for global primary aluminium demand growth, excluding China, to 2 percent from previously 2-4 percent. Benchmark aluminium prices are down 10 percent in 2013 to around $1,870 per tonne, but cost cuts and high premiums on physical deliveries of the metal have helped boost results at Hydro. "I'm pleased to report that we are on track to deliver the $300 per tonne cost improvements for our fully-owned smelters by the end of 2013, contributing to a more robust cost position and bottom line," Chief Executive Svein Richard Brandtzaeg said. The...
The House of Representatives agreed on Tuesday to hand over PT Inalum`s management to the State-Owned Enterprises (SOE) Ministry following the government`s decision to acquire it after three years of negotiations with the Japanese government. The House made the decision in its joint meeting with all parties, as the government decided not to extend the expired contract of PT Inalum, an aluminum joint venture between Indonesia and Japan in which Indonesia held 41.13 percent of the company`s shares and Japan owned 58.87 percent. "House Commission VI and the government agree to hand over the management of Inalum to the State-Owned Enterprises Ministry based on the law," Commission VI Chairman Airlangga Hartarto said when reading a statement here on Tuesday night. The House agreed to the...
Aluminij Mostar, Bosnia's sole aluminium smelter, clinched a deal on Tuesday to settle its debt to state-run power company EPHZHB and stave off closure. Aluminij, a mainstay of Bosnia's economy, began a gradual shutdown of its smelter on Oct. 15 after EPHZHB froze its bank accounts in a dispute over a 40 million Bosnian marka ($27.7 million) debt owed for power supplies. Like other smelters, Aluminij Mostar has been squeezed by a 30 percent fall in the price of aluminium in the last 2-1/2 years caused by oversupply and by high power prices. The smelter said it had agreed with EPHZHB to pay its debt in 10 monthly instalments beginning on February 2014 and to service its monthly obligations towards the utility through the end of this year. The deal was reached through the mediation of the...
Aluminium prices today rose marginally by 0.18% in futures trade mostly in line with a firming trend in global markets. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in November rose by 20 paise, or 0.18%, to INR 114 per kg in business turnover of 18 lots. In a similar manner, the metal for delivery in October traded higher by 15 paise, or 0.13%, to INR 112.10 per kg in 288 lots. Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in the global markets and rising demand at spot markets here.
UBS AG reissued their hold rating on shares of Noranda Aluminum Holding Corp. in a research report sent to investors on Thursday morning, Stock Ratings Network reports. The firm currently has a $2.40 price target on the stock. Shares of Noranda Aluminum Holding Corp. traded down 1.16% on Thursday, hitting $2.56. 174,740 shares of the company’s stock traded hands. Noranda Aluminum Holding Corp. has a 1-year low of $2.21 and a 1-year high of $6.94. The stock has a 50-day moving average of $2.54 and a 200-day moving average of $3.33. The company’s market cap is $174.1 million. Noranda Aluminum Holding Corp. last announced its earnings results on Wednesday, July 24th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.14) by $0.02. The...
Aluminum prices in Henan dropped sharply to a discount of 100 yuan per tonne over the Changjiang spot price in mid-October, dragged down by soaring inventories and flagging demand, Shanghai Metals Market (SMM) has learnt. The flow of aluminum ingot into Henan from Gansu Dongxing Aluminum Co., from Ningxia Qingtongxia Aluminum Co., East Hope Aluminum Co., and from Xinjiang Tianshan Aluminum Co, among other producers, has exacerbated pressure from oversupply in the region. Consumption, meanwhile, has faltered considerably, causing aluminum inventories to surge. Aluminum smelters in the region have confirmed to SMM that they have seen inventories balloon from normal levels. Stocks in Gongyi, a major consumption hub in Henan, have piled up to near 100,000 mt, SMM has confirmed with local...
The Indonesian government said on Tuesday that it had raised its valuation of aluminum producer Inalum from $424 million to $558 million — a 31.6 percent increase — in its ongoing negations to assume control of the 58.8 percent stake in the company held by Japanese consortium Nippon Asahan Aluminium (NAA), which is set to expire on Oct. 31. “We do not want that this Inalum matter to be taken to arbitration,” Industry Minister MS Hidayat said on Tuesday. “Our negotiating team has resumed negotiations with the Japanese.” NAA, which has controlled the shares since signing an agreement in 1978, has demanded $626 million for them. Under the agreement, the Indonesian government had the right to assume control on Oct. 31, which it has pledged to do. If the government and NAA cannot agree on a...
BHP Billiton’s aluminium output in the September quarter rose 15% year-on-year boosted by strong performance at its South African smelters with record production at Hillside. In the three months ended September 30, 2013, BHP’s aluminium output was 310,000 tonnes, unchanged from output in the June quarter. Alumina production increased by 7% year-on year but fell 1% quarter-on-quarter in the September 2013 quarter to 1.25 million tonnes.
Alcoa Inc is one of the global players engaged in the production of alumina, primary aluminium, and fabricated aluminium. It has a presence in mining, refining, smelting, fabricating, and recycling. The company recently announced that the smelter operated by the joint venture (Ma’aden-Alcoa) has been shut down temporarily as one of the two potlines was facing problems during ramp-up. Alcoa owns 25 % stake in the joint venture, while the remnant is being held by Ma’aden. Management stated that repairs & maintenance works at the $10.8 billion project in Saudi could extend into coming year and the company would focus on another potline for ramping up its production. The combined capacity of both these potlines stands at 740,000 TPA. Apart from this, the rest of the operation expansion or...
Goldman Sachs cut its price targets for aluminum to $1,800, $1,750 and $1,750 per metric ton on a three-, six- and 12-month horizon. The bank previously looked for $1,850, $1,900 and $2,000, respectively. “Driving these aluminum forecast revisions is the lack of a sufficient supply response to low and declining prices, which we believe is the result of a sharply declining cost structure driven by weaker coal and power prices,” Goldman added. “At this point, we no longer believe supply curtailments will create a shift in the balance significant enough to generate a turn in the cycle within the next 12 months,” Goldman concluded.
“The free trade agreement with Europe is an unprecedented growth opportunity for the Canadian aluminium industry because it will drive the gradual elimination of tariffs on aluminium imports, such as, 7% on rods, 6% on billets, foundry and slabs, as well as 3% on remelt,” said Jean Simard, President and Chief Executive Officer, Aluminium Association of Canada, at the signing of the memorandum of understanding for a possible Canada–Europe free trade agreement. “We look forward to signing the agreement as it will open the door to a large-scale market for Canadian aluminium production.” The organisation and Mr. Simard applaud the excellent work accomplished by the Canadian and Quebec governments’ negotiators, the Honourable Ed Fast, Minister of International Trade, and the Honourable...
Vedanta Aluminium Ltd will triple its capacity by 2015 to 2.3 million tonnes to cater for an expected surge in demand in India, its managing director said, even though its inability to source enough alumina at home has forced it to import the raw material. The company, a unit of London-listed Vedanta Resources Plc, has been importing more than 1 million tonnes of alumina per year because plans to mine bauxite to feed its alumina refinery are on hold while the authorities look at opposition from people in Odisha. Vedanta Aluminium’s need for alumina, produced by refining bauxite, would nearly triple to 4.5 million tonnes in three years as it adds smelting capacity, managing director Sushil Kumar Roongta told Reuters. “We’ll have to continue importing alumina till my refinery starts...
One of the world’s largest aluminium producers has attacked the London Metal Exchange as “short-sighted and misguided” and called on regulators to intervene in a row about metals warehousing. In a letter sent to the UK Financial Conduct Authority and the US Commodity Futures Trading Commission on Friday and seen by the Financial Times, Alcoa accused the LME of “exceeding the proper role of an exchange” in its response to the controversy. The escalation of the dispute over warehousing threatens the primacy of the 136-year-old LME as the home of global benchmark prices of metals from aluminium to zinc. It comes less than a year after it was bought by Hong Kong Exchanges & Clearing for £1.4bn. The argument centres on long queues to take delivery of aluminium from LME-registered warehouses,...
State mining company Aneka Tambang, commonly known as Antam, says it expects to gain an additional $150 million in revenue from its alumina smelter plant slated to open later this month in Tayan, West Kalimantan, the company’s chief said on Thursday. Antam’s smelter will be able to process up to 300,000 metric tons of chemical-grade alumina each year from bauxite, president director Tato Miraza said. Construction of the $490 million smelter began in June 2011. Tato said the company planned to operate the smelter at 70 percent capacity. Tato said its new smelter in Tayan would generate revenue that would offset up to $300 million in potential losses that the company could incur after a ban on unprocessed mineral exports takes effect at the start of 2014. The long-discussed policy is...
Japanese consortium Nippon Asahan Aluminium (NAA) on Monday countered the Indonesian government’s offer for its stake in aluminum producer Inalum, which is set to expire on Oct. 31, and demanded $626 million. The government, which has in the past said that it will make Inalum a state-owned enterprise, has offered $424 million for the stake. “This Monday, I will meet with Coordinating Minister for the Economy Hata Rajasa and the president [Susilo Bambang Yudhoyono] to make a decision on whether to go for an arbitrage or not,” Industry Minister M.S. Hidayat on Sunday. “The likeliness is not.” International arbitrage is a costly process. The government will consider raising its offer, Hidayat said, though he did not elaborate further. He said the Finance Ministry was already preparing to...
Emirates Aluminium (EMAL) smelter complex project at Abu Dhabi, UAE is being built on a 6 km2 site in two phases. Phase 1 was completed early in 2011 and comprised the construction of two potlines, with a total of 756 reductions cells. Supporting units included a 2 000 MW power plant; a carbon plant encompassing an anode manufacturing plant, a baking furnace and a paste plant; a cast house; a laboratory; a dedicated berth; a reverse osmosis plant; a pitch unloading station; a raw material ship unloader, conveyer belt; and silos for storage. Phase 2 involves the construction of an additional potline of 444 reduction cells and supporting units. The units will include a ship unloader, the current power plant will be expanded to 3 000 MW, and a new cast house facility and anode manufacturing...
Italy was Thursday directed by Europe's highest court to take back about 295 million euros ($398 million) of state aid given to U.S. aluminium producer Alcoa Inc in the form of preferential power tariff as it had given the company unfair advantage over rivals. Upholding a decision by the European Commission four years ago, the European Court of Justice ruled that "Italy has failed to fulfill its obligation to recover the state aid granted to Alcoa in the form of a preferential electricity tariff." the Luxembourg-based European Court of Justice (ECJ) said in a ruling published Thursday. The ECJ's decision in the case filed by the anti-trust regulator, EU competition authority, is final and cannot be appealed. Italy must now comply with the court's judgment "without delay," the Luxemburg...
