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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Brazilian aluminium exports fell 35.8% year-on-year in August as European countries like the Netherlands received fewer shipments. Volumes sent abroad totalled 30,262 tonnes, from 47,162 tonnes in August 2012. Revenues in the month totalled $57.51 million, compared with $87.81 million a year ago. Exports from January to August amounted to 288,646 tonnes, down 13.1% year-on-year. Japan was the main buyer with 18,657 tonnes, a 1% reduction year-on-year. The Netherlands bought only 248 tonnes, down from 5,084 tonnes a year ago. No imports from Switzerland were reported, compared with 12,081 tonnes in August 2012. By contrast, the USA increased imports to 10,690 tonnes from no shipments in August last year.
A group of aluminum users, including MillerCoors LLC and other makers of drink cans, have said the London Metal Exchange's proposal to overhaul its controversial warehousing policy will "fall short" of solving the long wait times and inflated prices. In a letter dated Sept. 9, the so-called "aluminum users group" called on the LME to implement even bigger changes, which they say will end long wait times, increase transparency for physical pricing and restore user confidence in the exchange. Without that, there will be "more dysfunction, more manipulation and more harm", the letter from the group said. It also asked for a meeting with the LME. The letter was in response to dramatic changes announced by the LME on July 1, aimed at soothing irate industrial users who say the LME's...
Nearly half of China's aluminum production capacity is unprofitable, state-run China Daily quoted the chief executive officer of Alcoa Inc. Klaus Kleinfeld saying in a report Wednesday. Some "41% of China's aluminum smelting capacity is unprofitable due to low aluminum prices and high production cost," said Mr. Kleinfeld, also chairman of the world's third largest aluminum producer by output. "The Chinese government is taking steps to try to curb overcapacity, but it is not easy to decommission large, complex facilities," he said. Mr. Kleinfeld said Alcoa is "open to exploring opportunities abroad with Chinese partners." The company has a partnership with state-owned power producer China Power Investment Corp. to produce high-end fabricated aluminum products for the aerospace, automotive,...
The outlook for aluminium has stabilized, with consumption improving, according to the head of the world's biggest aluminium company, Oleg Deripaska. Deripaska, chief executive of Russian producer Rusal, predicted more stable economic growth around the world over the next 5-10 years, and consequently more stable growth in the aluminium market, in an interview with CNBC at the World Economic Forum in Dalian. "Finally, everything has settled," he said. Aluminium prices hit four-year lows earlier this year, amid fears that new rules about storing the metal in a warehouse could flood the market with it. Deripaska argued that Rusal is at an advantage in China because of its relatively environmentally friendly production techniques,compared to coal-fired industry. The billionaire, an ally of...
Hindalco Industries stands to benefit from the weakening of the rupee against the dollar, as copper and aluminium prices are dollar-denominated, Chairman Kumar Mangalam Birla told shareholders at the company’s 54th annual general meeting on Tuesday. “The only foreign loan we (Hindalco Industries) have is of $100 million and so the impact of rupee devaluation will be extremely marginal,” he said. In the year ended March, the company’s exports worth Rs 7,500 crore accounted for 30 per cent of total production. “To sell more in the domestic market was a conscious decision of the company,” Birla said. Regarding its three new projects, the chairman said on their completion, Hindalco’s revenue would double to Rs 16,000 crore from Rs 8,000 crore at present and the earnings before interest,...
The US firm Bechtel is setting up a Dubai office for its mining and metals division, as the company sees growing opportunities for the sector in the Arabian Gulf. Bechtel, one of the largest engineering and construction companies in the world, wants to tap into a market where it estimates contracts worth US$6 billion have been awarded in the past 12 months. "We recognise the growing importance of the Gulf region as a strategic hub for our business," said David Welch, Bechtel's president for Europe, Middle East and Africa. "We are optimistic about the business opportunities in the region and we believe the outlook is strong. In addition, the region has excellent connections to European and North African markets." The company has already made inroads into the GCC's metals sector, and is...
Tepid demand from principal consumption points like automobile, packaging and construction, yet to recover from the mauling of the world recession, has left the aluminium industry in deepest crisis. Industry giants from the US to Europe to China are sufficiently bedraggled by aluminium prices staying much below $2,000 a tonne. More, ingot physical premiums - the price buyers pay on top of the London Metal Exchange (LME) rate - are now compensating producers less than in the first half of 2013. This is in spite of premiums climbing to record highs of $250 a tonne from below $150 a tonne prior to 2008. High premiums have got much to do with aluminium stockpiles held at LME, mostly as part of financing deals. Interest rates in developed economies continuing to be low, operators have been...
LME aluminium is expected to revisit its Sept. 5 low of $1,785.25 per tonne, as it has resumed its preceding medium-term downtrend. The trend started from the Aug. 19 high of $1,949 and has been driven by five waves. The rebound from $1,785.25 is labelled as a wave 4, which is expected to be totally reversed by the current wave 5. The drop on Monday has confirmed the progress of the wave 5, which followed the completion of the wave 4 below resistance at $1,837, the 38.2 percent Fibonacci retracement on the fall from the Aug. 22 high of $1,920 and ending at the Sept. 4 low of $1,785. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal...
Russian aluminum producer Rusal said Monday that there is a need for greater transparency in the London Metal Exchange's disclosure of commercial and non-commercial positions on the exchange. "Specifically, the LME should introduce disclosure of commercial and non-commercial positions on the exchange. This would enhance understanding of the dynamic between producers, consumers and traders, which in turn would boost the ability to understand the market place for policy makers and actors alike," Rusal said in a statement. The move by Rusal comes after leaders at the G-20 summit last week in St. Petersburg signed a declaration calling for the G-20 to facilitate better functioning of physical and financial commodity markets. Rusal says that the aluminum market has been transformed in the last...
The share price of National Aluminium Company or Nalco has risen almost 40 per cent from its 10-year low of INR 24.10 seen on August 6 to INR 33.7 on the back of a rise in the global aluminium price, which is up only marginally, and a weak rupee that props up realisations. As compared to the average price of $1,767 a tonne in July, the aluminium price on the London metal Exchange (LME) was up at $1,814 in August. Currently, the same is around $1,780. Since end-July, the rupee is also down 12 per cent versus the dollar. Operationally, Nalco is targeting to increase alumina output by 20 per cent in FY14. It also expects to export a larger quantity of alumina and aluminium this year. However, the overall gains from these for Nalco would get capped, given the continuing issues it faces with...
An initiative to position Qatar as a core knowledge centre for aluminium technology in the Middle East has been launched jointly by Qatar University’s Centre for Advanced Materials (CAM), Hydro and Qatalum. CAM’s metallurgical expertise will be reinforced by Hydro, the global aluminium company active in more than 50 countries on all continents, and Qatalum, one of the largest aluminium producers in the Middle East. It was announced yesterday that two prominent Norwegian senior professors will hold Qatalum/Hydro Chair positions in tandem for three years at CAM. Professor Hans Roven and Professor Geir Martin Haarberg are currently based out of the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway. Professor Roven will take charge this month itself, and Professor...
Alba employees are seen here taking part in Finance101 – a series of half day training session organised as part of Alba’s Executive Education Series 2013 Alba conducted Finance101 for its management grade employees as part of the company's Executive Education Series 2013 The training programme was conducted by Chief Financial Officer, Ali Al Baqali, Corporate Finance Manager, Mansoor Afzal and Financial Accountant, C. P. Krishnan The programme was held over six batches during the year 2013 Aluminium Bahrain B.S.C. ( Alba ) provided another tangible demonstration of its continuing commitment to expand learning opportunities for employees with Finance101 - a series of half day training sessions organised as part of Alba 's Executive Education Series 2013. The training programme was part of...
LME aluminium may have completed a rebound from the Sept. 5 low of $1,785.25 per tonne, or the first round of this rebound, and is expected to drop to $$1,800. The rebound is against a five-wave cycle starting from the Aug. 22 high of $1,920 and ending at the Sept. 4 low of $1,785. A Fibonacci retracement on the cycle reveals a resistance at $1,837, the 38.2 percent level. It is obvious that the short uptrend from $1,785 started to reverse when the metal approached $1,837. A break above $1,837 will lead to a further gain to $1,853, the 50 percent retracement. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the...
Data from China's General Administration of Customs showed that in August, China imported 140,000 tons alumina; January to August, the imported alumina totaled 2.03 million tons, down 37.5% compared with the same period in 2012. In August, China imported 86,209 tons unwrought aluminum; January to August, the amount totaled 545,459 tons, down 34.2% year-on-year. In August, China imported 240,000 tons aluminum scrap; January to August, the amount totaled 1.58 million tons, down 7.6% YOY. In August, China exported 51,837 tons unwrought aluminum; January to August, the amount totaled 355,326 tons, down 19.3 YOY.
Rio Tinto Alcan celebrates the first metal produced at its new US$ 1.1 billion Arvida Aluminium Smelter, AP60 Technology Centre, in Saguenay-Lac-Saint-Jean, Quebec. This important milestone marks the transition from a world-class construction project to a 60,000-tonne technology development centre unparalleled in the aluminium industry. The gradual ramp-up to full capacity will continue over the coming weeks. "Rio Tinto Alcan is proud to commemorate the first aluminium produced in Saguenay-Lac-Saint-Jean region, from the world's most productive reduction cells," declared Arnaud Soirat, President and chief executive officer of Rio Tinto Alcan, Primary Metal. "It is important to salute the ingenuity of Rio Tinto Alcan's Research and Development teams that first developed and tested this...
LME aluminium is expected to test a resistance at $1,817 per tonne, a break above which will lead to a further gain to $1,837. A five-wave cycle starting from the Aug. 22 high of $1,920 has completed at the Wednesday low of $1,785. The bottom of the failed fifth wave labelled v, along with the trough of preceding wave iii, has formed a tinny double-bottom. A Fibonacci retracement analysis on the cycle has revealed the immediate resistance is at $1,817, the 23.6 percent level, which blocks the way towards the 38.2 percent retracement at $1,837. Support is at $1,785, a fall below which will confirm the continuation of the preceding downtrend towards $1,760. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or...
China plans to urge local aluminium producers to ramp up overseas investment rather than expand at home, signalling its growing desperation to ease a domestic supply glut. Market participants said the government was clutching at straws and that few firms in the world's largest aluminium consumer and producer would move capacity overseas in the short-term as oversupply is an international problem. But the possibility of a longer term shift could spook international smelters such as Alcoa and Rusal, who would fret that Chinese players could undercut their businesses - especially if they receive subsidies as some currently do domestically. China accounts for about half of global production and oversupply in its aluminium sector has helped push the world's inventories to a record high and...
Hindalco Industries Ltd has said that metals business will face challenges in the near term as aluminium prices continue to remain weak in the international market and will have bearing on financial results in 2013-14. "As aluminium prices continue to remain weak in the international market, the metals business will face challenges in the near-term. The depreciation and the interest burden from its expansion projects, will also have a bearing on the financial results in FY-14," Hindalco Chairman Kumar Mangalam Birla said in its annual report. Birla said however that the business remains extremely well-placed for the long term, with the addition of these mega -scale assets in our portfolio. As these projects ramp up to their full potential, the company will see an exponential growth in...
