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, the world's leading and most diverse derivatives marketplace, today announced the first Aluminum MW U.S. Transaction Premium Platts (25MT) Futures (AUP) contracts were traded on Thursday 8 August. This trade was brokered by Jeffries Bache. Yesterday's trade was a 54 lot strip transaction for November and December 2013 between a physical trader and a major dealer. "This innovative aluminum swap futures contract enables commercial market participants in North America to better manage their price risk on an average basis throughout the month," said Harriet Hunnable, CME Group Managing Director, Metals. This contract is the first Exchange product that enables the aluminum Midwest premium to be managed. This is a complementary product to the LME aluminum contract. The US Midwest...
Rio Tinto has revealed an 18% drop in underlying earnings, down to US$4.2bn, in the first half of the year. It blamed lower metal prices and higher taxes for the decline. Rio also put on hold its efforts to sell its aluminium business interests after it couldn’t find a buyer. The FTSE 100 miner did, however, sweeten the pill for investors with a 15% increase in its interim dividend which this year will by 83.5p per share. It also said that cash flows were improving thanks to cost saving ‘momentum’ and highlighted progress with a number of significant projects. The ramping up Oyu Tolgoi copper-gold mine in Mongolia is now consistently operating above 80% of its design capacity. At the same time the group’s large, 290mln tonne, expansion of its iron ore operation in Australia’s Pilbara...
NZ Finance Minister Bill English was transparent about the reasons for injecting $30 million into the Tiwai Point aluminium smelter. Not known as a champion of government intervention, especially when it involves injecting taxpayers' money into struggling businesses, English said the deal would give some certainty to smelter workers and it would support the float of Meridian shares and give potential investors more certainty about what they're buying into. That's the real reason for a subsidy that goes against every economic principle this Government holds dear. Meridian supplies the power to the smelter and if Tiwai Point was to close, Meridian would lose its biggest customer. The numbers are huge. The plant gobbles up more electricity than Auckland city; it consumes one-seventh of all...
Aluminium prices edged up by 0.64% to INR 109.30 per kg in futures trade today as participants indulged 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 August up by 70 paise, or 0.64%, to INR 109.30 per kg in business turnover of 310 lots. Likewise, the metal for delivery in September traded higher by 65 paise, or 0.59%, to INR 110.40 per kg in 44 lots. Marketmen said apart from increased domestic demand, a firming trend in base metals overseas after trade data in China, the biggest user, exceeded estimates, influenced aluminium prices at futures trade. In the international market, aluminium gained 0.5% to $1,797 per tonne at the London Metal...
Rio Tinto has scrapped plans to sell its Pacific Aluminium division, blaming tough market conditions after reporting first-half underlying earnings down almost a fifth on last year. Rio has been trying to divest the business, which is comprised of its Australasian aluminium smelters and the Gove alumina refinery in the Northern Territory, since October 2011. “Following a comprehensive review we have also determined that the divestment of Pacific Aluminium for value is not possible in the current environment and it will be reintegrated into the Rio Tinto Alcan group,” said chief executive Sam Walsh. The news came as Rio reported that underlying earnings fell 18 per cent to $4.2bn in the six months to the end of June compared with the same period a year ago, a result that was in line with...
Mining group Rio Tinto Ltd/Plc has scrapped efforts to sell its loss-making Pacific Aluminium business, blaming poor market conditions as weaker iron ore, copper and coal prices dragged first-half profit down 18 percent. Rio - which has put a handful of assets on the block as it concentrates on core operations and battles a $22 billion (14 billion pounds) debt burden - said in 2011 it could hive off Pacific Aluminium, known as Pac Al. But it said on Thursday it had not found a buyer and would not pursue a spin-off to shareholders. Instead it will bring Pac Al back into the fold of Rio Tinto Alcan. Some analysts said it was a negative that the group had been forced to scrap a sale so soon after shelving the sale of its diamond assets, and as questions grow over its ability to sell larger...
Following a three-day flat streak, the price of Chinese aluminum bar climbed by 1.1 percent on Tuesday, August 6. After two changeless days, the cash price of Chinese aluminum fell 0.2 percent. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row. The price of Chinese aluminum scrap saw little movement. The cash price of primary Indian aluminum rose 1.0 percent after a two-day drop. On the LME, the aluminum 3-month price declined 0.9 percent to $1,801 per metric ton. On the LME, the primary aluminum cash price fell 0.8 percent to $1,755 per metric ton.
Meridian Energy has had to give up previously negotiated price increases and the government has chipped in with a $30 million ""incentive payment"" to keep the Tiwai Pt aluminium smelter open until at least January 2017. Meridian chief executive Mark Binns announced the deal in a statement to the NZX, saying the renegotiated contract would "see a reduction in the current electricity charge from July 1, 2013, and allows for price increases should the New Zealand dollar value of aluminium rise above agreed levels". Finance and State-Owned Enterprises Ministers Bill English and Tony Ryall described the new deal as ""returning the price of power paid by NZAS to around pre-2013 levels, in exchange for guarantees on the contract from or on behalf of New Zealand Aluminium Smelter's parent...
Century Aluminum, a company whose shares are moving quickly, is trading 3.2% lower to $8.04. The Dow is down 0.5% to 15,532 and the S&P is currently down 0.5% to 1,699. Over the past year, Century Aluminum has traded in a range of $6.02 to $10.60 and is now at $8.04, 34% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has risen 0.2%. Century Aluminum Company produces primary aluminum, in both molten and ingot form, through facilities located in the United States. The Company owns and operates a reduction facility in Ravenswood, West Virginia, and owns a partial interest in a reduction facility in Mt. Holly, South Carolina. Century is also the operating partner of a reduction facility in Hawesville, Kentucky. Potential...
Data from the customs of Xining city, Qinghai province shows that, in the first half year, the total import and export value of Qinghai province reached 522.12 million dollars, increased by 23.7% year-on-year. The import and export value of ordinary trade totaled 470.17 million dollars, increased by 16%, and accounts for 90.1% in the whole import and export value . The import and export value of processing trade totaled 9.67 million dollars. The import and export value of private enterprises, foreign-funded enterprises, and collectively-owned enterprise increased by 37.6%,12.5% and 97.1% respectively. In terms of the export, the export of unwrought aluminum and aluminum materials in Qinghai Province increased 44.4%.
Rio Tinto's Alcan division said on Wednesday it will shut down its aluminum smelter in Shawinigan, Quebec, by the end of November. The company said it will immediately shut down 50,000 tonnes of production and take the remaining 50,000 tonnes of capacity offline by the end of November. Some 425 workers will be affected. The smelter, commissioned in 1942, uses Soderberg technology, which is less energy efficient than newer ways of smelting aluminum. Rio had said previously that, because of environmental regulations phasing out Soderberg technology in Quebec, its production lines would have to be shut down by the end of 2014 at the latest. The company is set to report earnings before markets open in London on Thursday. The closure will make little difference to the aluminum market, which is...
Nirmal Bang has come out with its fundamental outlook on base metals. The research firm do not expect any major rise in the prices of metals on account of weak physical demand and higher supplies. Aluminium in particular can be sold on rallies, says Nirmal Bang. Industrial metals prices rose, helped by a weak dollar and ahead of trade and industrial output data from China this week that should shed light on the outlook for demand from the top metals consumer. South Korea is seeking a total of 6,000 tonnes of copper with purity more than 99.99 percent via tenders, the state-run Public Procurement Service said on its website China's oversupply of aluminium is likely to escalate in the second half of 2013 as more new capacity is set to come onstream, further reducing the need for imports by...
JPMorgan Chase & Co, the biggest U.S. bank, was sued with Goldman Sachs Group Inc. over claims it restrained aluminum supplies and drove up prices. The complaint was filed by a Jacksonville, Florida, direct purchaser, Master Screens Inc., and by individual plaintiff Daniel Price Bart of Tallahassee, who is described in the filing as a “purchaser of beverages sold in aluminum cans.” The banks are accused in the complaint filed yesterday in federal court in Tallahassee of racketeering and conspiring with the London Metal Exchange, hoarding aluminum in Detroit-area warehouses and violating federal antitrust laws. Goldman Sachs was sued on Aug. 1 over similar claims by a Michigan company. “By inserting itself into a healthy industry producing widely needed commodities, severely degrading...
Thirty more jobs are in the firing line at the Tiwai Pt aluminium smelter. New Zealand Aluminium Smelters yesterday proposed to axe more than 30 maintenance jobs at the smelter. The cuts are part of the company's plan to streamline its operations to help return the smelter to viability in the face of challenging market conditions. Last year, New Zealand Aluminium Smelters told The Southland Times that it planned to review its maintenance services this year to reduce costs. Acting general manager Stew Hamilton said the proposal to cut 31 maintenance jobs would save the company millions of dollars a year. "Unfavourable conditions in the global aluminium markets have made it vital that the smelter further reduce costs. Aluminium prices remain very low and we are continuing to work with...
China's oversupply of aluminium is likely to escalate in the second half of 2013 as more new capacity is set to come on stream, further reducing the need for imports by the world's top consumer and producer of aluminium. Imports have already tumbled 67 percent in the first half from a year earlier, official data showed. China's mounting supplies would also weigh on domestic prices, which AL-A00-CCNMM have fallen more than 5 percent so far this year, said Zhang Chenguang, analyst at information provider SMM. Beijing has tried unsuccessfully to limit aluminium capacity and last month further tightened regulations for new and existing smelters. Analysts and smelter sources said the regulations would not cut production this year, but would limit expansion in the longer term. China has more...
United Co. Rusal, the world’s largest aluminum producer, may reduce output by as much as 8.4 percent this year to allow prices to recover. The company will idle 350,000 metric tons of capacity at five of its plants with high production costs until aluminum rises to $2,400 a ton, Oleg Deripaska, Rusal’s billionaire chief executive officer, said in an interview with Interfax newswire. Rusal’s press service confirmed the comments when contacted by Bloomberg News. Aluminum prices fell more than 13 percent this year to $1,799 a ton as global stockpiles reached records and last month traded at the lowest level since 2009. Rusal said in March that it would lower production by 300,000 metric tons in 2013 from the 4.2 million tons last year. About 40 percent of producers globally, excluding China,...
LME aluminium is biased to drop below a neutral range of $1,792.25-$1,836 per tonne, and then fall towards the July 31 low of $1,772.25. The metal has approached the Aug. 2 low of $1,792.25, making the consolidation within the range look like a double-top, which will be confirmed when the neckline at $1,792.25 is broken. This pattern will point a target at $1,748, but a more realistic target could be $1,772.25. Resistance is at $1,814, a break above which will increase the chance of a further gain towards the Aug. 1 high of $1,836. 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 products mentioned in the analyses.
The rates to obtain aluminum tumbled the most in 20 months in Europe last month and retreated from a record in the U.S. as lawmakers and regulators scrutinize long lines for metal that buyers say raised their overheads. The surcharge added to the price of aluminum for immediate delivery on the London Metal Exchange slid 7 percent in Europe, the most since November 2011, according to Metal Bulletin data. U.S. costs dropped as much as 23 percent from a record in June, Harbor Intelligence in Austin, Texas, says. Premiums may fall 25 percent more by year-end at this pace after the LME submitted plans to ease a backlog of metal, Barclays Plc estimates. Consumers led by brewer MillerCoors LLC told a U.S. Senate hearing last month that banks and other warehouse owners are using “unfair” LME...
