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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Spot inquiries picked up slightly in the European aluminum alloy market this week as the summer vacation period began to draw to a close. "The market was OK this week, we had some inquiries where we were able to book some quantities. It was better than last week," said one producer, adding that the inquiries had been for September/October delivery. A second producer agreed: "The beginning of this week saw a lot of inquiries for early September." The producer reported selling 226 at prices around Eur1,800/mt, delivered with 30 days' payment terms. "Prices are more or less stable. The lowest we've heard was Eur1,800," said the first producer, adding that they had achieved sales in the Eur1,830-1,850/mt basis, delivered 30 days. There was still talk of cheaper offers below the Eur1,800/mt...
The government has started the process to sell its remaining stakes in the two metals companies Hindustan Zinc and Balco, which could fetch it as much as Rs 18,000 crore. The cabinet committee on economic affairs (CCEA) is expected to take up a proposal this week for change in regulations governing "call and put" options, which is crucial for divestment in these companies. Next week, the CCEA is likely to clear stake sale in the two companies via an offer for sale or competitive bidding. "A cabinet note has been already circulated for change in the call and put norms and is expected to be taken up in the coming week. The CCEA will subsequently take up the proposal for stake sale in HZL and Balco," said a senior finance ministry official. The government has budgeted Rs 55,000 crore from...
Construction of EMAL's Phase II expansion is more than 70% complete and on schedule to meet its December 2013 deadline. Cooperation with Abu Dhabi Ports Company (ADPC) is helping to ensure that the expansion of Emirates Aluminium (EMAL) into one of the world's largest single-site aluminium smelters is on target. Almost half of the containers of vital equipment had been unloaded and delivered to the EMAL Al Taweelah complex, in the six months prior to February 2013. Khalifa Port's integrated logistics - which includes radio frequency identification (RFID) tags and automated gates - have contributed significantly towards this rapid progress. By the time construction is due to be completed in December this year, around 5,000 containers destined for the EMAL complex, will have entered the...
Iran has produced 119,000 tons of aluminum ingots in the first four months of the current Iranian calendar year, which started on March 21, 2013, IRNA reported. The output rose by 6.3 percent compared to the corresponding period a year earlier. The volume of aluminum ingot production in the country over the fourth Iranian calendar month of Tir (June 22-Jly 22) stood at 29,600 tons, which showed a 8.8-percent growth year on year. The report added that Iran produced 83,000 tons of alumina powder during the same period. The number showed an 12.8-percent increase compared to the same period last year. Iran needs to import 120,000 tons of aluminum ingots per year, Shahen Markarian, a member of the Iranian aluminum producers syndicate has said. He added that the annual output is projected to be...
The National Aluminium Company Limited (Nalco) on Wednesday signed a long-term fuel supply agreement with Mahanadi Coalfield Limited (MCL). As per the deal, MCL would supply 47.16 lakh MT of coal to Nalco's captive power plant (CPP) in Angul and 8,73,324 MT for steam-cum-power generation plant in Damanjodi. The agreement is for a period of five years from 2013 to 2018. The agreement was signed by S S Mahapatra, director (production), Nalco and A K Tiwari, director (technology/operation), MCL at the MCL headquarters in Burla, a Nalco release informed.
Hindalco Industries Ltd., India’s second biggest aluminum maker, is seeking improved terms on as much as $2.7 billion of debt as projects funded by the rupee loans come on stream, said two people familiar with the talks. “The company, controlled by billionaire Kumar Mangalam Birla, wants to refinance loans worth Rs.17,775 crore ($2.7 billion) in the year ending 31 March ,” said the people, asking not to be identified as negotiations are on. “One of the new smelters started trial output last quarter, while the other is slated to start production in October.” Hindalco spokeswoman Pragnya Ram didn’t respond to an email seeking comment. The company’s total debt swelled 39% to Rs.56,900 crore as of 31 March, according to data compiled by Bloomberg. Hindalco raised Rs.9,900 crore in September,...
Vedanta Aluminium Ltd (VAL) has sought extension of SEZ (Special Economic Zone) benefits for its 1.25 million tonne aluminium smelter project at Jharsuguda. VAL has already invested Rs 12,000 crore on the smelter complex. The project was set up as a sector specific SEZ for producing aluminium metal in line with the notification of the Union commerce ministry. “We have been passing through great difficulties and are struggling to sustain our production in non-SEZ facilities. Despite incurring huge losses every day, we intend to start the SEZ facility immediately after we are extended the facilities,” Abhijit Pati, president and chief operating officer of VAL’s Jharsuguda unit wrote to Odisha chief secretary, J K Mohapatra. The aluminium smelter plant is on the risk of turning unviable amid...
Industrial activity is on the rise in Abu Dhabi as the emirate’s drive towards sustainable economic diversification under Abu Dhabi Economic Vision 2030 gathers pace. The recently opened Khalifa Industrial Zone Abu Dhabi (Kizad) is likely to be a key engine of growth for the emirate, while a recent multi-billion dollar merger between the UAE’s two aluminium manufacturers is also set to bolster plans for industrial expansion, Global Arab Network reports according to OBG. The manufacturing sector has performed well in recent years, with growth doubling from 11% in 2010 to 22% in 2011, according to the Abu Dhabi Department of Economic Development. Net profits for manufacturing companies listed on the Abu Dhabi Securities Exchange were up 109% year-on-year in 2012. Kizad, which was...
Analysts at Credit Suisse lowered their target price on shares of Noranda Aluminum Holding Corp. from $7.00 to $6.00 in a research report issued to clients and investors on Thursday, Stock Ratings Network.com reports. Credit Suisse’s price target suggests a potential upside of 96.08% from the stock’s previous close. Noranda Aluminum Holding Corp. traded up 4.44% on Thursday, hitting $3.06. 209,561 shares of the company’s stock traded hands. Noranda Aluminum Holding Corp. has a 1-year low of $2.93 and a 1-year high of $7.85. The stock’s 50-day moving average is $3.20 and its 200-day moving average is $3.99. The company’s market cap is $208.1 million. Noranda Aluminum Holding Corp. last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.16) earnings per...
The 3-month price of aluminum saw the biggest decline of the day, dropping 1.3 percent on the LME to close at $1,905 per metric ton on Wednesday, August 21. On the LME, the primary aluminum cash price declined 1.3 percent to $1,848 per metric ton. The cash price of primary Indian aluminum, following a couple days of improvement, weakened by 0.2 percent. Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price fell 0.2 percent. The price of Chinese aluminum scrap continues hovering in place for the fifth day in a row. The price of Chinese aluminum billet held steady. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row.
LME aluminium may hover above a support at $1,879 per tonne for one trading session before breaking this level and falling further to $1,853. The support is provided by the 61.8 percent Fibonacci projection level of a downward wave c, strengthened by another one at $1,882, the 38.2 percent Fibonacci retracement on the rise from the Aug. 7 low of $1,773.25 to Aug. 19 high of $1,949. The wave c is capable of travelling the same distance as the preceding wave a, to arrive at $1,853, its 100 percent Fibonacci projection level. However, this target will only be confirmed when the metal drops below $1,870. 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,...
The Finance Ministry has asked ministry of mines to expedite the Cabinet note on stake sale in Hindustan Zinc (HZL) and Bharat Aluminium Company (BALCO), say exclusive CNBC-TV18 sources. The Finance Ministry has also proposed that stake sale should be via the auction route. HZL and Balco are erstwhile public sector firms that were sold to mining major Vedanta Resources during 2001-03. The government may have to obtain a no objection certificate from Vedanta for the auction sale. It is also leant that the finance secretary believes that large amounts have been blocked in these assets and hence divestment must be done on a priority basis. The government has a residual stake of 29.5 percent stake in Hindustan Zinc and 49 percent stake in Bharat Aluminium Company (BALCO) and the divestment...
Meridian Energy - the jewel in the Government's portfolio of crown assets - may be worth nearly $2 billion less than it was valued at a year ago when it is finally listed. In its 2012 statement of corporate intent released in September last year Meridian Energy estimated its commercial value to the Crown to be $6.579 billion as of June 30 based on an independent valuation by accounting firm PwC. That valuation included a 20 per cent premium for full control of the company which cannot be counted in its float value because the Government only intends to sell up to 49 per cent. Taking account of the premium knocks $1.32 billion off the value. Meridian also wrote off a further $476 million last week after renegotiating its contract for the Tiwai Point aluminium smelter, putting the value at...
Aluminium prices edged up by 0.74% to INR 122.85 per kg in futures trade today as participants engaged in enlarging positions, supported by a firming overseas trend. Further, better demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in September up by 90 paise, or 0.74%, to INR 122.85 per kg in business turnover of 45 lots. Likewise, aluminium for delivery in August traded higher by 85 paise, or 0.71%, to INR 121.30 per kg in 297 lots. Marketmen said apart from increased domestic demand, a firming trend in base metals overseas as manufacturing index in China increased in August from an 11-month low, adding to signs the world's second-biggest economy is stabilizing, supported the upside in aluminum prices at futures trade. In...
Two Kentucky electric cooperatives are teaming up on a deal that will save hundreds of jobs at an aluminum smelter they serve. Century Aluminum of Kentucky will now be supplied with electricity procured on the open market by Big Rivers Electric Corp. and distributed by Kenergy Corp. Both the G&T and the distribution co-op are based in Henderson. “Many of the employees at the Hawesville smelter are Kenergy members,” said Greg Starheim, president and CEO of the co-op. “There are also a lot of spinoff jobs associated with the plant’s operations, so this was a major economic development project for us.” A series of agreements announced by the Kentucky Public Service Commission staved off a crisis, which could have led to closure of the smelter, eliminating 700 jobs. “The agreements are...
Negotiations for term premiums for primary aluminum exported to Japan in the fourth quarter are expected to start Thursday or Friday after one overseas supplier makes an offer to Japanese buyers, sources said Wednesday. The negotiations take place amid falling spot premiums in Europe and North America, down around 5% from late May when the third-quarter premiums were being negotiated. The premiums fell in response to the July 1 London Metal Exchange warehouse reform proposal, aimed at increasing availability of warehoused aluminum in the market, sources said. Asian premiums, however, have not moved in tandem with the European and the North American premiums so far. Platts spot Japanese import premiums have risen to $250-251/mt plus London Metal Exchange cash, CIF main Japanese ports, from...
Record imports of fertiliser and a resurgence of log exports were not enough to make up for the business lost to South Port when New Zealand Aluminium Smelters (NZAS) cut production at its Tiwai aluminium smelter. The operator of Bluff's port reported cargo volume declined by 7 percent to 2.51 million tonnes in the year ended June 30 from a record in the previous year. Approximately 100,000 tonnes, or about 56 percent, of the reduction in volume related to NZAS, which continues to operate the smelter 15 percent below its normal capacity. Still, South Port reported a record after-tax profit of $6.5 million, up 8.5 percent on the previous year, and beating the previous peak of $6.26 million set in 2011. Operating profit before financing costs and tax increased by 8 percent to $9 million....
Aluminium producer Dubal has floated a tender for the third phase of a plant-wide upgrade of its air-conditoning units. The work will include all associated ducting, design, installation, cladding and integration of new units with existing ones. Dubal said that it is seeking bids from companies "with a proven track record of supply and installation of A/C units and associated works in live industrial environments in GCC countries". Dubal's plant at Jebel Ali is one of the largest single-site aluminiumn smelters in the world, capable of producing over one million tonnes of finished aluminium products a year. The site contains a primary aluminium smelter, a 2,350MW power station, a large carbon plant, a 30m gallon per day desalination plant and casting operations capable of producing 1.2m...
