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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Australia’s liquid natural gas production is growing fast, and is set to continue. But one of Australia’s biggest gas consuming sectors says it’s suffering from a stifled local market. Miles Prosser, executive director at the Australian Aluminium Council, says despite the immense growth in Australia’s LNG production, local gas buyers, such as alumina and aluminium producers, are the victims of “a thin and shallow market.” A recent government report estimated a 26% rise in LNG exports in the 2012/13 financial year, resulting in a market worth around $15.2bn. And Wayne Calder, deputy executive director of the Bureau of Resource and Energy Economics, said last Friday that the rapid evolution of the global energy market would be key to Australia’s LNG production growth. “Gas is becoming an...
The closure of Holcim's Westport cement plant will lead to increased costs for the cash-strapped Tiwai Pt aluminium smelter, its acting general manager says. This week, Holcim announced it would close its Westport cement plant in about two years and will instead import cement to New Zealand. In 2010, the smelter struck a deal with Holcim to process some of the smelter's waste product known as spent-cell lining at its Westport plant. Spent-cell lining is a byproduct removed from aluminium reduction cells that can be used an alternative fuel, replacing coal, for the cement, brick and industrial ceramics industries. Since the deal, the smelter has sent hundreds of tonnes of the byproduct to be processed at the plant but it may need to be exported when the cement plant closes. New Zealand...
The profitability of aluminium smelter Slovalco is highly dependent on its energy-related costs, and so as its 20-year discounted energy price contract is set to terminate in late 2013, the company is warning a rise to market energy rates will make the firm uncompetitive on the international market. But threats to the business are abating, for now, as a preliminary agreement with Slovakia’s biggest power producer and negotiations to reduce electricity transmission charges clear the way for future operations.
Himadri Chemicals and Industries, which set up its liquid pitch terminal in China last year, is eyeing a turnover of Rs. 400 crore from this unit by 2014-15, and planning an additional capacity of 5,00,000 TPA in five years. "Our China facility is one of the largest liquid pitch terminal globally. We are targeting a topline of Rs. 400 crore from this operation by FY15. We are also planning to increase the capacity and take the total to 1 lakh tonne per annum\ (TPA) by next five years," CEO Anurag Choudhary told PTI. The current capacity of the China liquid pitch is 50,000 TPA. "We invested Rs. 200 crore to set up liquid pitch terminal at Shangdon Dawn in China. We are expecting to break even from this plant by 2014-15," he said. Himadri Chemicals is currently supplying liquid pitch to...
The big story in regional aluminium production is the commencement of operations of the joint venture between Saudi Arabian Mining Company and US market leader Aluminium Company of America (Alcoa) in December 2012. This is the sixth smelter to come into operation in the GCC region. Ma’aden President and CEO Khalid al-Mudaifer said, “Today we see the first aluminium produced in Saudi Arabia, and the launch of a new industry.” The plant will be located at Ras al-Khair in Eastern Province. The Saudi aluminium joint venture is owned 74.9 per cent by Ma’aden, with the rest held by Alcoa. The smelter will have an initial annual capacity of 740,000 metric tonnes per annum (mtpa), and will also feature a bauxite mine with an initial capacity of four million mtpa, and an alumina refinery with an...
The London Metal Exchange and Goldman Sachs Group Inc. have been named as co-defendants in a U.S. class-action lawsuit alleging anticompetitive behaviour in aluminium warehousing, Hong Kong Exchanges and Clearing Limited (HKEx) said. Goldman on Wednesday tried to diffuse years of frustration over long waiting times and inflated prices at metals warehouses across the world, by offering immediate access to aluminium for end users holding metal at its Metro warehouses. Criticism of banks that own commodity assets and trade raw materials has ratcheted up in recent weeks, with the U.S. Department of Justice starting a preliminary probe into the metals warehousing industry, sources said. Britain's financial watchdog is also investigating the LME's warehousing system. The lawsuit alleges...
United Co. Rusal, the world’s biggest aluminum producer, said elevated premiums are supported by demand and financing deals as the London Metal Exchange tries to ease backlogs in its warehouses that drew complaints from users including MillerCoors LLC. The LME, which oversees more than 700 warehouses worldwide, proposed rules last month to cut waiting times for withdrawals at some sites. “The broader industry context is greatly supportive of the premiums paid in the market today,” Steve Hodgson, Rusal’s director for sales and marketing, said in an e-mailed comment to Bloomberg. “Today’s conditions are very different to those that prevailed in late 2010 at the time when the load out queues were forming and first reached 100 days.” The aluminum market, excluding China, will have a deficit...
Workers of the Aluminium Smelter Company of Nigeria (ALSCON) have accused its Russian managers, UC RUSAL, of plotting to cripple operations in the factory by dismantling equipment in the production lines and “siphoning of raw materials”. The workers, who were represented by their trade union leaders, warned that if the federal government failed to wade into the matter, the vandalism of ALSCON’s main production plant by RUSAL will be crippled in the factory. Led by the leaders of the company’s chapter of the Steel and Engineering Workers Union of Nigeria (SEWUN), the workers alleged that the Russian managers of ALSCON have dismantled stem rods and anodes used in the manufacture of steel ingots. They also claimed that since the beginning of the year, RUSAL had dismantled parts of the plant...
China's plans to force more than 1,900 companies to cut excess capacity in bloated industries including aluminium, steel and copper have met with an underwhelming response from the market. Certainly, the moves to make China's heavy industries more efficient will have little immediate market impact, but what analysts and investors may be shrugging off a little too lightly is that once trends and processes start, they tend to gather momentum. The edict to close some capacity by September will do very little to end surpluses in aluminium and steel production in China, as they will impact less than 1 percent of capacity. In aluminium, about 260,000 tonnes of annual capacity may be shut, a fraction of the existing capacity of about 27 million tonnes, which is already about 28 percent higher...
Aluminum of China is one of today's biggest movers, up 2.7% to $7.90. The S&P is trading higher by 1.0% to 1,703 and the Dow is trading 0.7% higher to 15,615. 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. Aluminum of China has potential upside of 12.0% based on a current price of $7.90 and analysts' consensus price target of $8.85. Aluminum of China shares should first meet resistance at the 50-day moving average (MA) of $8.54 and find additional resistance at the 200-day MA of $10.25. Aluminum of China share prices have moved between a 52-week high of $13.29 and a 52-week low of $7.25 and are now trading 9% above that low price at $7.90 per share. In...
LME aluminium is expected to drop into a range of $1,787-$1,797 per tonne, as indicated by its wave pattern and a Fibonacci retracement analysis. The rebound from the recent low of $1,772.25 has stopped in a range of $1,828-$1,842, formed by the 61.8 percent and the 76.4 percent Fibonacci retracements on the fall from the July 22 high of $1,863 to this low. These ratios may be applied to the current drop as well, and another Fibonacci retracement analysis on the rise from $1,772.25 to $1,836 reveals the target zone of $1,787-$1,797. A rise above $1,815 may be capped at $1,821, the 23.6 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,...
Austria Metall AG (AMAG) forecast a fall in core profit of up to 13 percent this year as aluminium prices fall and reported a 10 percent drop in the second quarter, though this was not as severe as expected. AMAG, which is 54 percent owned by a consortium of B&C Industrieholding, Oberbank and the AMAG employees' foundation, said its three divisions had run at full capacity in the first half and it expected this to continue in the third quarter. "The management expects a positive year from an operational point of view, although the factors ... like (the) aluminium price and pressure on margins are likely to result in a year-on-year decline in profit," it said in a statement. AMAG said it expected full-year earnings before interest, tax, depreciation and amortisation (EBITDA) of between 116...
Goldman Sachs' olive branch to beleaguered metals customers will do little to help bring down the high cost of securing aluminium, but even critics praised the proposal as a smart move to placate regulators and silence complaints. Goldman responded to mounting political pressure and regulatory scrutiny of its Metro International metals business on Wednesday, by offering customers immediate access to aluminum stored in its warehouses. In a statement outlining the bank's proposals to cut waiting times at all London Metal Exchange-registered warehouses, Goldman said it would let major consumers swap aluminum held in its warehouses for metal the bank has acquired, without the need to pay a steep cash premium. Novelis Inc, the world's biggest maker of flat-rolled aluminum used to make beverage...
Chalco is likely to be the only aluminium company left standing, says emerging markets fund manager Mark Mobius, as the Chinese government orders more than 1,400 companies to ease back on over capacity. It is thought likely that such a move will mean that some aluminium companies will fall by the wayside, but that Chalco will survive what might amount to a ‘cull’. While Chalco’s shares have dropped, the company is still a ‘good long-term bet’ according to Mobius even if its price performance has been poor. So far this year, Chalco’s share price has dipped 28%. Mobius works for Templeton Emerging Markets Group.
According to preliminary data released by the Aluminum Association, the North American aluminum demand during the first five months of the year rose 1.2% over the same period last year. The North American aluminum demand through May this year totaled 10.252 billion pounds. Out of this, the demand for semi-fabricated mill products totaled 6.870 billion pounds. The semi-fabricated mill products demand fell 0.7% year-on-year. The demand for aluminum semi-fabricated products in the US and Canada-measured in shipments by domestic producers plus imports-totaled an estimated 1.412 billion pounds in May, 4.1% lower than the May 2012 total of 1.473 billion lb. Demand for aluminum sheet and plate totaled 794 million pounds in May 2013, down 3.5% than the demand in May 2012. The year-on-year...
Indonesia announced that it has bought Nippon Asahan Aluminium’s majority shareholding in Indonesia Asahan Aluminium. The deal will be finalised later in the year. The plan is to take over Nippon’s 58.88% stake in the business when the contract ends in October 2013. Currently, the Indonesian government holds 41.12% of shares in the company. Indonesia is looking to boost its downstream industry and hopes that it can double Inalum’s output to 500kt of aluminium ingot per annum. Currently, 60% of the smelter’s output (250kt) is exported to Japan. The Inalum smelter is located in Kuala Tanjung in the Batubara Regency area of North Sumatra. Indonesia’s industry minister, MS Hidayat, hopes to transform the area into an industrial cluster for aluminium-based products. The development of Kuala...
Alcoa announces that effective September 1 Libby Archell is appointed Vice President of Corporate Affairs. Reporting to Klaus Kleinfeld, Alcoa Chairman and CEO, Ms. Archell will be a member of Alcoa's Executive Council and have responsibility for communications activities that impact Alcoa's reputation, relationships with the media and employee engagement. Libby Archell rejoins Alcoa as Vice President, Corporate Affairs "With her successful track record in challenging assignments in Australia and the U.S., Libby has the ideal background and skills to take on this vital communications role at an important moment in Alcoa's 125th history," said Mr. Kleinfeld. "Communications will play a major role in driving the growth of Alcoa's value add businesses and supporting our actions to improve...
China’s aluminium production for H1 2013 totalled 10.58Mt, up 7.9% on the same period last year, according to CNIA figures. Production is likely to accelerate during the second half of the year as new capacity comes on stream, mainly in the North West of the country. Primary output in June 2013 was 1.84Mt, pointing to an annual rate of 22.4Mt China’s net imports of primary aluminium reached 45.5kt during the H1 2013 period, down by a staggering 81% from 236kt for the same period last year. Aluminium semis production was up by 24.58% to 18.2Mt compared with full-year 2012 growth of 14.60%. Net aluminium semis exports from China totalled 1.25Mt, up almost 8% year-on-year and reversing a downward trend reported last year. Demand for aluminium from the construction sector experienced stable...
