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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North American aluminum shipments are set to slow considerably this year, with an expected increase of 1% over 2012 levels, according to researcher Lawrence Capital Management. In a report released Thursday, the researcher said it is expecting shipments to hit 23.4 billion lb, following a rise of 6% last year to 23.2 billion lb. The US market should be a tad stronger, it said, up 2% to 19.8 billion lb this year, with exports poised for their first decline since the global recession. But looking longer term, the outlook is "better," the analyst said. It said that both the near-term and longer-term outlooks are being driven primarily by the auto market. "Ongoing substitution of aluminum for steel, with the next wave coming in the form of aluminum auto-body sheet, combined with the cyclical...
The news hasn’t been good this week for aluminum manufacturer Alcoa Inc. It’s stock price is tumbling, a Duetsche Bank analyst downgraded the stock to sell and forecasters were predicting aluminum prices would fall 12 percent or more over the next two years. All this on the heels of Alcoa being booted last month from the Dow Jones Industrial Average. The future of Alcoa, which recently announced plans for a $275 million expansion of its Blount County manufacturing operation, will have a significant impact on the East Tennessee economy. The company is investing in a plant upgrade in a move to take advantage of rising demand for aluminum by auto makers. Alcoa will kickoff earnings season with the release of its quarterly financial report on Tuesday.
Century Aluminum has some interesting assets and future growth plans. Century Aluminum Co has five main production facilities, one under construction and two carbon cathode/anode manufacturing facilities. The firms, a leading aluminum production facility, is located in Iceland and the new facility under construction is also located in Iceland. Century Aluminum Co’s Icelandic facility is actually a jewel in the company’s crown. The plant cost $1 billion to construct but has generated sales in the region of $1 billion during the past two years. Moreover, the facility gets its power from geothermal and hydro power sources, which cuts costs and pushes the average cash cost per ton of aluminum produced to a level 17 percent below the cash cost per ton of production for the company’s U.S.-based...
Alcoa, Inc. is set to "officially" kick start the third quarter earnings season by reporting its financials on Oct.8. The company will hold a conference call on the same day at 5:00 p.m. (Eastern Time) to discuss the results and business developments. Alcoa is the world's leading producer of primary and fabricated aluminum, as well as the world's largest miner of bauxite and refiner of alumina. Alcoa employs approximately 61,000 people in 30 countries across the world. Wall Street expects Alcoa to earn 6 cents a share, according to analysts polled by Thomson Reuters. The consensus estimate implies an increase of 100 percent from last year's 3 cents a share. In the past four quarters, Alcoa has managed to beat the street's view thrice at a rate between 16.5 percent and 37.5 percent....
Aluminium Smelter Company of Nigeria, ALSCON in Ikot Abasi Akwa Ibom state, has commissioned a new water project in one of its host communities. According to the Director of Public Relations of the company, Mrs. Tatyana Smirnova, the water project is one among fifteen others so far provided by the company in its operational area. She said, it was part of the company’s commitment to develop its stakeholder’s communities through investment of life enhancing programmes, stressing that; such would help address the social and economic well being of the people. “The project we are commissioning today is the second water project our company has provided for the people of Edemaya clan. It is also the 15th project the company has undertaken in Ikot Abasi Local government area since the programmee...
Ormet Corp will immediately close its 270,000-tonne-per-year aluminum smelter in Hannibal, Ohio, a casualty of historically low metal prices and "uncontrollable" power costs, the company said on Friday. The move follows a ruling on Wednesday by the Public Utilities Commission of Ohio (PUCO), which approved some major changes to Ormet's power contract with energy supplier American Electric Power Co Inc. The state power regulator listed a number of conditions, including requiring the company, which filed for bankruptcy protection in February, to employ at least 650 full-time workers through 2018. Under those terms, costs would have increased by some $108 million next year, rather than falling by $54 million as outlined in Ormet's plan. "Due to the decision, Ormet cannot emerge from...
The UAE's Senaat group and Ducab plan to build an aluminum rod mill in the latest metals sector collaboration between companies owned by the governments of Abu Dhabi and Dubai, the UAE's official WAM news agency said Thursday. The joint venture, Ducab Aluminium, proposes to build a factory with an annual output capacity of 50,000 mt of aluminum rods at an estimated capital cost of $60 million. The plant will also produce electrical connectors and wiring. The manufacturing facility will be located in Abu Dhabi's Khalifa Industrial Zone (Kizad), close to an aluminum smelter operated by Emirates Aluminium, or Emal, the joint venture aluminum refiner co-owned by the Abu Dhabi and Dubai governments. The two adjacent emirates respectively have the largest and second largest economies of the...
Even in a city where the population is aging and centenarians are not all that uncommon, a 125th birthday is a rarity worth celebrating. Alcoa, the world's leading producer of primary and fabricated aluminum, observed the watershed on Monday, one day early. Alcoa was born on Oct. 1, 1888, as the Pittsburgh Reduction Co., after founder Alfred Hunt and a group of steel executives bought the rights to Charles Martin Hall's patent for smelting aluminum. As part of the observance, a historical marker was unveiled that will be installed in the Strip District, where the group built its first smelter at 32nd and Smallman streets. In 1907, the firm became the Aluminum Company of America, later shortened to Alcoa. It now employs 61,000 people in 30 countries, 2,000 of them in southwestern...
MARC maintains Press Metal Berhad's (Press Metal) BBB rating on the outstanding Redeemable Convertible Secured Loan Stock (RCSLS) with detachable warrants on MARCWatch Negative. The rating was first placed on MARCWatch Negative on July 3, 2013 following the shutdown of Press Metal's aluminium smelting plant in Mukah, Sarawak, as a result of damage suffered from the recent power outage in the state. MARC notes that the full assessment on Press Metal's damaged aluminium smelting plant has not been concluded as the insurance report is expected to be only finalised by end-October 2013. MARC has been informed that Press Metal has filed an interim claim under its RM300.0 million cover policy for the plant. Meanwhile, the group is utilising internally generated funds for clearing and...
London-listed metals and mining conglomerate Vedanta Resources Plc expects its operational power generation capacity in India to jump by over a half to 10,000 Megawatt (MW) within a year. The $15 billion group is hopeful of bringing three operation-ready projects on stream shortly, completing its Rs 50,000 crore power investment cycle set in motion five years back. The largest private sector power generator in the country has a current capacity of 6,500 MW running on ground. “Over this, we will commission our 1,980 MW Talwandi Sabo project in Punjab in a few months for which Fuel Supply Agreement (FSA) was signed recently with Coal India. Also, 1,200 MW Balco project will come on stream in Chhattisgarh apart from a 210 MW plant at Lanjigarh in Odisha,” a senior company executive told...
In 2010, Evgeny Nikitin was appointed Managing Director of Krasnoyarsk Aluminium Smelter (KrAZ), one of the world's largest aluminium production facilities. From 2008 to 2010, he was managing director of the Sayanogorsk Aluminium Smelter (SAZ) after beginning his career with RUSAL as a pot operator back in 1993. Under the direction of Evgeny Nikitin, KrAZ improved its engineering and financial performance. RUSAL's production system is successfully implemented at the site through continuous production process and working environment improvements. The facility also runs the "Clean Soederberg" technology project, which allows to significantly cut emissions. In his new position, Evgeny Nikitin will focus on the following tasks: increasing management and production efficiency at the ADE...
Domestic consumption of aluminium products in Brazil will grow 4.1% year-on-year in 2013, beating previous estimates of a 3.7% growth, according to Brazil’s aluminium association Abal. A higher GDP growth forecast would have given further boost to our estimates, Luis Carlos Loureiro Filho, Abal’s economy and statistics commission co-ordinator, told Metal Bulletin. Abal’s estimates point at a domestic consumption of 1.48 million tonnes of transformed aluminium products in 2013, from 1.42 million tonnes in 2012. Brazil’s central bank recently lowered the country’s GDP growth forecast for 2013 to 2.5%, from 2.7% expected earlier. In the January-June period, Brazil’s economy grew 2.6% year-on-year, according to official news agency Agência Brasil. Domestic consumption of sheets, the...
Senaat, the industrial conglomerate, and Ducab, the power cable maker, are linking up to open a Dh220 million aluminium rod mill in Abu Dhabi, providing a boost to the emirate’s strategy to develop a downstream industrial heartland. Based in Khalifa Industrial Zone (Kizad), the facility will make aluminium alloy rods and wires for use in cable-making and other manufacturing, as well as bare overhead conductors, mainly for use in the utility industry. “This new joint venture with Ducab is a testament to our ability to successfully create, optimise and champion industrial assets in Abu Dhabi and the UAE, creating value and further expanding the country’s industrial capabilities,” said Suhail bin Athaeeth, the chief executive of Senaat, an Abu Dhabi state-owned industrial holding company. It...
UC Rusal Chief Executive Oleg Deripaska appealed to the new owners of the London Metal Exchange (LME), Hong Kong Exchanges and Clearing (HKEx), to think again on their proposals to force aluminum warehouses to release more metal than they take in, according to a recent Reuters article, saying “the intent of the HKEx to accelerate the transfer into the market of an additional 2 million tons of aluminum, accumulated and stored since the financial crisis, is an unprecedented intervention and one that Rusal strongly objects to.” The firm is worried the proposed rule changes would release a tsunami of aluminum into the market, distorting the supply balance and precipitating even lower prices. Strangely, it adds that the measures would lead to a less transparent marketplace – we’re not sure...
Shares of Noranda Aluminum traded at a new 52-week low today of $2.48. So far today approximately 254,000 shares have been exchanged, as compared to an average 30-day volume of 429,000 shares. 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 the current low of $2.48 and a high of $6.97 and are now at $2.48. Over the past week, the 200-day moving average (MA) has gone down 2% while the 50-day MA has declined 2.7%....
LME aluminium is expected to extend its loss to $1,795 per tonne, as it could have resumed a preceding downtrend that developed from the Aug. 19 high of $1,949. The trend has been disrupted by a rebound from the Sept. 17 low of $1,775.50. This rebound will be totally reversed over the next few trading sessions. A Fibonacci retracement analysis on the rise from $1,775.50 to the Monday high of $1,860 reveals support at $1,818, the 50 percent level, which looks vulnerable following the sharp drop on Tuesday. The support at $1,808, provided by the 61.8 percent retracement, has been ignored as it may not work, simply because the support at $1,818 has caused a weak rebound. No information in this analysis should be considered as being business, financial or legal advice. Each reader should...
China’s aluminium prices are likely to fall in the fourth quarter, as supply is expected to rise amid sliding demand. Some analysts have predicted that the prices will fall to an all-time low. Traditionally, the fourth quarter has been a weak season for aluminium consumption, as cold weather in north China slows down construction activities. In north-west China, however, smelters who are able to operate at relatively low costs are still gearing up. Market participants have estimated that about 2 million tonnes of new aluminium capacity will start operations before year-end in China, with most coming from Xinjiang. Ample coal resources and cheap power in the area have allowed new aluminium capacities to emerge in recent years. Xinjiang’s aluminium capacity will reach 4 million tpy by the...
The Public Utilities Commission of Ohio voted on Wednesday to approve Ormet Corp's revised power deal with energy supplier American Electric Power Co Inc, saving the U.S. aluminum producer from likely closure. The commission added, however, that it was modifying parts of Hannibal, Ohio-based Ormet's request for a unique subsidized power arrangement, as it works to emerge from bankruptcy. PUCO Chairman Todd Snitchler said at the commission's weekly meeting, monitored by webcast, that approval was also contingent on Ormet employing at least 650 full-time workers through 2018. Ormet is the region's largest employer, as well as Ohio's largest energy user. In February, Ormet filed for bankruptcy protection. Cutting the high cost of energy to run its 270,000-tonne-per-year aluminum smelter was...
