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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Two-thirds of aluminum producers would be losing money because of lower premiums paid on top of exchange benchmarks if the world’s biggest metals bourse approves rules to cut waiting times at its warehouses, according to JPMorgan Chase & Co. Premiums to obtain the metal will drop 60 percent to about $100 a metric ton as a result of the new rules the London Metal Exchange is expected to approve in October, Benjamin Defay, an analyst at the bank in London, wrote in a report e-mailed today. The LME proposed to oblige warehouses where waits extend for 100 days or more to let more metal out than they take in. The premium that some U.S. buyers paid to get metal rose to a record this year even as global output outpaced demand and stockpiles approached 5.5 million tons, enough to supply North...
Aluminium Corp of China (Chalco), the nation's largest smelter of the lightweight industrial metal, warned of more tough times for the industry as it said its interim net loss narrowed, largely on the back of one-off gains and government subsidies. "There was no alleviation for the oversupply of the company's principal products and the market is likely to turn more gloomy," Chalco said in its interim results statement, adding it would try to cut losses in the second half. Net losses for the year's first-half was 596.5 million yuan (HK$750.32 million), compared to a loss of 3.25 billion yuan in the year-earlier period, based on international accounting standards, the firm said in a statement to the Hong Kong stock exchange. The result beat the average 2.27 billion yuan net loss estimated...
South Korea’s state-run Public Procurement Service (PPS) bought 5,000 tonnes of aluminium through various tenders at the end of last week, a South Korean trader source told Metal Bulletin. Glencore won the tender to sell 1,000 tonnes of western-origin aluminium at a premium of $234.9 per tonne over LME cash price. The metal will be sold on Incheon cif basis. As part of the same tender, Dreample will sell 1,000 tonnes of western-origin aluminium at a premium of $231.5 per tonne cif over LME cash price. The port of delivery is Incheon. LG International won the tender to sell 2,000 tonnes of Indian-orogin metal to the PP at a premium o $236.5 per tonne. The metal will be delivered to Incheon port on a cif basis. Dreample also won a separate tender for 1,000 tonnes of aluminum for non-western...
Aluminium Corporation of China (Chalco) narrowed losses significantly in the first half thanks to its cost reduction efforts and gains realized from disposals of some business lines. The company recorded a total loss of 596 million yuan ($96.6 million) in the first six months, it told Hong Kong Stock Exchange Aug. 31. That compared to a loss of $3.25 billion made a year ago. ``There was no alleviation for the oversupply of the Company’s principle products and the market is likely to turn more gloomy’’ in the second half due to uncertainties in the world economy and structural adjustment in China, Chalco said in interim report. Average domestic price of spot alumina decreased 3.47% year-on-year to 2,536 yuan per tonne in the period while that of three-month aluminium futures on Shanghai...
US and Canadian aluminum demand, defined as shipments by domestic producers and imports, reached an estimated 12.157 billion lb in the first half of 2013, 0.3% less than that of the same period last year, according to preliminary estimates released Friday by the Aluminum Association. Demand for semi-fabricated mill products totaled 8.259 billion lb through June, falling 1.1% from a year ago. Apparent consumption -- defined as demand less exports -- in domestic markets totaled an estimated 10.236 billion lb, down 0.2% from the same period of 2012. Exports of aluminum from the US and Canada, excluding cross-border trade, totaled 1.922 billion lb year to date, down 0.4% over a year ago, while aluminum imports totaled 2.190 billion lb, down 7.6% from last year. Demand for aluminum...
There is a large amount of uncertainty in the global aluminium market with limited upside for prices, BNP Paribas metals analyst Stephen Briggs said Thursday. Briggs said that the market is in a large structural surplus and that it is unlikely to move back into balance in the near-term. "The market will remain in large structural surplus unless the Indonesia-China production chain breaks down, and it is hard to see cutbacks being sufficient to significantly erode excess stocks," Briggs said. Briggs notes that there has already been a significant number of production cuts and closures this year outside of China, notably by producers such as Alcoa, Ormet, Rio Tinto and Rusal. "Further cuts are likely, given that over 60% of the industry has cash costs above the current LME price... with...
State-owned aluminium major Nalco is expecting to operationalise its much delayed Utkal-E captive coal block by December next year. Allocated to the company 9 years back, in August 2004, to meet coal requirements of four of its captive power plant, the block has failed to meet several deadlines for want of various clearances. Even today, the stage-I forest clearance is pending due to issues related to forest rights on nearly 71 acres out of 488.53 acres of forest land required for the project. "Activities for acquisition of government as well as private land, forest clearance, construction of R&R colony and appointment of MDO (mine-developer-operator) are at hand. The project is likely to become operational by December, 2014," National Aluminium Company Ltd (Nalco) said in its Annual...
The Reserve Bank today allowed non- resident Indians ((NRIs) to purchase shares in Tai Industries and Madras Aluminium Company as the total shareholding by NRIs in them has gone below the threshold limit. "...the aggregate share holdings by NRIs/Persons of Indian Origin in Tai Industries and Madras Aluminium Co under the Portfolio Investment Scheme (PIS) have gone below the prescribed threshold limit stipulated under the extant FDI Policy," RBI said in a statement. Hence, the restrictions placed on the purchase of shares of the above company is withdrawn with immediate effect, it added, without providing the relevant shareholding details. Foreign Institutional Investors (FIIs), NRIs and Persons PIOs are allowed to invest in the primary and secondary capital markets in India through the...
Aluminum reached a three-week low in London on prospects for a global surplus of the lightweight metal to expand. Copper slumped, narrowing the biggest monthly gain since September. Supply of aluminum will outpace demand by 994,000 metric tons this year, above the prior 883,000-ton estimate, said Shingi Yamagiwa, manager of light-metals trading at Sumitomo Corp. (8053) Orders to withdraw aluminum from stockpiles tracked by the London Metal Exchange dropped for an eighth week in nine this week, according to daily bourse data. “The fundamental outlook remains poor,” Stephen Briggs, an analyst at BNP Paribas SA in London, said in a report. “It is hard to see cutbacks being sufficient to significantly erode excess stocks.” Aluminum for delivery in three months dropped 1 percent to $1,816 a...
Sundry allegations of improprieties against Rusal, embattled managers of the Aluminium Smelter Company of Nigeria, Ikot Abasi, and self-praise responses from its management seem to be the only products at installed capacity at the company whose ownership and hitch-free operation remain dogged by protracted litigation. Amid allegations of asset-stripping by some groups of the Aluminium Smelter Company of Nigeria (ALSCON), Ikot Abasi, Akwa Ibom State on one hand, and strident denial by its managers on the other, the Supreme Court will next month, once again, decide who should own the troubled aluminium plant. At war over ALSCON's ownership are its current managers, the Russian company, AC Rusal and BFIG, an American company, which a judgment of the Supreme Court in July last year favoured...
Aluminum Corp of China Ltd (Chalco) , the country's top aluminium producer, posted a first-half net loss of 623.8 million yuan ($101.9 million), hurt by lower prices and oversupply in the world's top producer and consumer of the metal. The result compared with a net loss of 3.25 billion yuan in the six months through June 2012, the company said in a filing to the Shanghai stock exchange on Friday. Oversupply problems prompted the company in June to temporarily close 380,000 tonnes of annual aluminium capacity, representing 9 percent of its annual output in 2012. Global production of the lightweight metal used in packaging and transport has consistently outweighed demand, leading to a build up of inventories and hitting prices. World prices of aluminium hit four-year lows below $1,800 a...
Aluminium premiums are being offered within a huge range for spot deals in Europe, with some sellers desperate to offload material into a market from which consumers continue to hold back, ahead of anticipated falls. Metal Bulletin’s European duty-paid aluminium premium stands at $245-265 per tonne, where it has stood since August 12. Premiums fell in July and early August following the London Metal Exchange’s proposal of new load-out regulations for warehouses, mostly on deals between traders. As premiums fell, consumer business dried up on expectations of further falls to come. But as producers returned from their summer holidays to lower market premiums, they realised that the large contangoes on the LME forward aluminium curve offered an alternative to selling metal at razor-thin...
Affiliates of Glencore Xstrata, Century Aluminum’s largest shareholder, continued to be involved in transactions in 2013 with entities fully or partly controlled by the Iranian government, according to a Century filing with the US Securities and Exchange Commission (SEC). That disclosure comes in the wake of the New York State Department of Financial Services seeking information regarding reinsurers’ compliance with the Iran Freedom and Counter-Proliferation Act of 2012 (IFCPA), which the department said became effective July 1. Non-US affiliates of Glencore in the second quarter ended June 30 entered into sales contracts for agricultural products as well as purchase contracts for metals, the Chicago-based aluminium producer said in a filing dated August 9 and signed by Century president...
One of today's stocks on the move is Aluminum of China, up 2.0% to $8.30. The Dow Jones Industrial Average is now trading 0.3% higher to 14,819 and the S&P is trading 0.4% higher to 1,636. There is potential upside of 6.6% for shares of Aluminum of China based on a current price of $8.30 and an average consensus analyst price target of $8.85. The stock should find resistance at its 200-day moving average (MA) of $9.98, as well as support at its 50-day MA of $8.09. Aluminum Corporation of China Limited is a producer of alumina and primary aluminum in China. The Company refines bauxite into alumina and smelts alumina to produce primary aluminum. Over the past year, Aluminum of China has traded in a range of $7.25 to $13.29 and is now at $8.30, 14% above that low. The 200-day and 50-day...
A356 alloy output and operating rates at producers surveyed by Shanghai Metals Market (SMM) dropped in August due to production cuts and suspension. A356 alloy output at the companies surveyed slipped by 4,000 tonnes from July to 102,000 tonnes in August. The average operating rate also edged down 2.12% month-on-month to 52.85%. On the supply side, alloy supply fell due to production cuts and suspension. For example, one aluminum smelter in Shandong cut production, and an alloy maker, also in Shandong, scaled back production due to inferior quality of aluminum liquid – raw material for making alloy. One Henan-based aluminum producer halted alloy production for a week due to problems in production. Tighter supply lent some support to alloy prices. Though processing fees of aluminum alloy...
LME aluminium is expected to drop to $1,840 per tonne, as indicated by a falling channel and a Fibonacci retracement analysis. After struggling for several days around the upper channel line, aluminium eventually resumed its drop towards the lower channel line, which points $1,840, the 61.8 percent Fibonacci retracement on the rise from the Aug. 7 low of $1,773.25 to the Aug. 19 high of $1,949. Resistance is at $1,869, the 76.4 percent projection level of a downward wave c, a break above which may trigger a limited gain to $1,882, the 38.2 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...
Global resources giant BHP Billiton, unlike many of its smaller peers, was able to increase its dividend for the year to June. The dividend was raised 3,6% to US$1,16/share, though attributable profit fell 29,5% to $10,9bn and net operating cash flow was 25% weaker at $18,25bn. Peers Anglo American and GlencoreXstrata both kept their interim dividends unchanged from the previous year. Anglo American reported a 28% drop in underlying earnings to $1,3bn in the six months to June and held interim dividends at US32c. GlencoreXstrata's pro forma (taking the merger with Xstrata into account) net earnings fell 39% to $2bn in the six months to June and the interim dividend was also unchanged, at US5,4c/share. Though Billiton made big production gains in its key commodities, realised prices were...
Press Metal Bhd (Press Metal) is expected to start seeing signs of recovery from the fourth quarter of the financial year 2013 (4QFY13) onwards as its Samalaju smelter is expected to stabilise from October while part of its pots in Mukah may be back in operation at the later part of the year, coupled with the expected recovery of the aluminium price. According to RHB Research Institute Sdn Bhd (RHB Research) analyst Ng Sem Guan in a note yesterday, while Press Metal’s 4Q prospects are expected to be brighter, its near term growth could potentially be impacted by two major risks which include prolonged repairs and weak aluminium price. To recap, Press Metal smelters were hit harder than expected by the June power outage in Sarawak. Ng noted while the group had reduced the negative impact...
