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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Platts Chinese import premiums for Good Western aluminum edged up Wednesday to $245-250/mt CIF plus LME cash from $230-250/mt last week, as Chinese buying interest picked up on the back of weaker London Metal Exchange prices this week, industry sources said. Chinese import queries have increased as LME aluminum prices fell below $1,800/mt, traders and consumers said Wednesday. But actual trades remained lacking as domestic prices also fell in China this week. "There's some interest, but the overall LME price plus premiums and China's VAT is still higher than domestic currently, so we've not seen any actual trades yet," a Shanghai-based trader said. "We've also been asking customers this week since the LME fell, but they think the overall import price is still high compared with the...
Goldman Sachs Group said on Wednesday that it would offer customers of its Metro International metals warehouse business immediate access to aluminium held up in queues through an exchange deal with the bank. "In light of the concerns that end-users have raised about their access to aluminium they are holding in warehouses, Goldman Sachs is contacting end users to offer to swap any aluminium currently in the queue for immediately available aluminium so that they have access to the metal they need to make or package their products," the bank said in a statement outlining ways to speed up aluminium delivery from London Metal Exchange warehouses. Goldman has come under regulatory and political pressure in recent weeks as major consumers of aluminium have complained about waiting excessive...
Calderys, a world leader in Refractory Solutions and a subsidiary of Imerys, announces its latest international expansions into two key areas of the Asia-Pacific market: Indonesia and Japan. Calderys has signed a Joint Venture (JV) agreement with Indonesian refractory manufacturer PT Indoporlen and has also acquired the Japanese refractory producer Tokai Ceramics Co Ltd. In the Indonesian market, Calderys has been a partner of PT Indoporlen during over 30 years of service to the cement, tin, nickel, steel, aluminium and fertilizer industries (with Calderys known prior to 2005 as Lafarge Refractories). The JV was signed with Calderys as the majority shareholder and PT Indoporlen’s founding Halim family as the lead Indonesian shareholders. It includes PT Indoporlen, which produces...
Ohio's state utility regulator on Wednesday rejected Ormet Corp's appeal for an expedited decision on the aluminum producer's request for lower electricity rates, which it said are crucial to operating its aluminum smelter and alumina refinery. The ruling by the Public Utilities Commission of Ohio (PUCO) was on the company's emergency appeal for lower rates. A full hearing on Ormet's request remains on the docket for August 27. Ormet had asked for an expedited decision to cut power costs for its 260,000 tonne-per-year Hannibal, Ohio aluminum smelter and for its Burnside, La. alumina refinery, which has an annual capacity of about 600,000 tonnes. Five months ago Ormet filed for Chapter 11 bankruptcy protection citing low aluminum prices and high power costs. Securing lower energy rates is...
LME aluminium is expected to rebound to $1,797 per tonne, as it has completed a five-wave cycle. The cycle fell from the July 22 high of $1,863. A Fibonacci retracement analysis reveals a target at $1,797, the 23.6 percent level, a break above which will lead to a further gain to $1,810, the 38.2 percent level. It is not clear how strong this rebound will be, as a result, the various Fibonacci retracements have to be targeted one after another. A drop below $1,777 will confirm the continuation of the downtrend towards the June 27 low of $1,758. 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...
On Monday, July 29, the aluminum cash price fell by 1.3 percent on the LME, landing at $1,761 per metric ton and making it the day’s biggest mover. Today marks the fifth day in a row of declining prices for the aluminum 3-month price. After falling 1.3 percent on the LME, prices settled at $1,805 per metric ton, driving an accelerated drop-off since Tuesday, July 23. After falling for two days, the Indian aluminum cash price rose 0.6 percent. Chinese aluminum closed mixed on Monday. Following a quiet couple of days, the Chinese aluminum cash price fell 0.4 percent yesterday. The price of Chinese aluminum scrap held steady. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row. The price of Chinese aluminum bar was unchanged.
Trading for China's domestic spot aluminum alloy ADC12 generally held fairly steady though there were signs of a slowdown on the back of the seasonal summer lull, industry sources said Tuesday. Despite of the weaker aluminum ingot prices, spot domestic offers for the aluminum alloy ADC12 stayed steady. Leading Chinese producer Sigma Metals kept its offers at Yuan 16,900/mt ($2,754/mt) ex-works Tuesday, unchanged from last week, while most non-Sigma offers remained at Yuan 15,600-16,000/mt, unchanged from the previous week. Platts assessed its weekly China domestic ADC12 price at Yuan 15,500-16,000/mt ex-works Tuesday, unchanged from last Tuesday. A south China-based producer agreed, hearing offers generally steady at Yuan 15,600-16,000/mt, while an east China-based diecaster bought at...
U.S. futures regulators should review alleged manipulation of the aluminum market, the head of the Senate Agriculture Committee said on Tuesday. Committee Chairwoman Debbie Stabenow noted that in congressional testimony last week, buyers of aluminum alleged that the current market price was being skewed by those who own and profit from the storage of metal at warehouses. "I am writing to encourage you to further review this issue and clarify the role and responsibility of the Commodity Futures Trading Commission to address the situation," Stabenow wrote in a letter to Gary Gensler, chairman of the CFTC.
Century Aluminum Company reported a net loss of $34.6 million ($0.39 per basic and diluted share) for the second quarter of 2013. Financial results were positively impacted by a gain on bargain purchase of $2.0 million and power contract amortization of $2.7 million associated with the Sebree acquisition. Results were negatively impacted by a charge of $3.3 million for the early extinguishment of its 8.0% Sr. Notes; and a charge for severance and other expenses of $1.7 million related to the corporate headquarters relocation. Cost of sales for the quarter included a $10.2 million charge for lower of cost or market inventory adjustments. A year ago, Century lost $12.3 million ($0.14 per basic and diluted share) in the second quarter. Sales for the second quarter of 2013 were $331.9...
China's edict to more than 1,900 companies to shut excess production capacity by September is the latest effort to slim down bloated industries, but in the key steel, aluminium and cement sectors the cuts are just a fraction of their surpluses. Broader efforts, including credit curbs, raising environmental standards and energy efficiency will help slow the expansion of these sectors, but Beijing's push towards industry consolidation will be slow to materialise, analysts said. Premier Li Keqiang has vowed to curb overcapacity as part of efforts to shift the economy away from investment in heavy industries, a move that could dampen its appetite for raw material imports such as iron ore, coal, copper and bauxite. Beijing's latest orders suggest less than 1 percent of steel and aluminium...
Aluminium Bahrain has said that its net profit grew by 7% during the first half of 2013, despite the fact that its sales were largely flat at $1.02bn. The company said that it achieved a 1.9% year-on-year increase in sales volumes, despite a general drop in aluminium prices worldwide. Aluminium prices on the London Metals Exchange have dropped by 7% during the second quarter of the year to $1,834 per metric tonne, although worldwide demand has grown by 4.8% year-on-year fuelled by increased consumption in South East Asia - most notably Thailand (up 21%) and China (9%). Alba chief executive Tim Murray said: "Despite challenging global macroeconomic conditions coupled with lower LME prices, Alba was able to deliver a healthy financial performance supported by strong operational performance....
Ghana is set to create more than 2.3 Million jobs under the Integrated Aluminium Project, which has been described as the key to growing the economy with a capital injection of about 8billion dollars. Under the Integrated Aluminium Project, an Aluminium refinery is to be constructed to refine the rich bauxite deposit at Nyinahin into alumina, would then be processed into aluminium by VALCO, and sold to the several downstream industries as aluminium ingot and billet. It is believed the project hold the key to transforming Ghana’s economy by bringing in benefits, far more than the nation currently receives from oil. The Nyinahin mine with bauxite deposit of 700MT, valued at $17.5billion , is estimated to create about 98,000 jobs whiles the aluminium refinery expected to produce about...
Aluminium prices edged up by 0.52% to INR 106.95 per kg in futures trade today as participants enlarged their positions, supported by a firming overseas trend. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in August inched up by 55 paise, or 0.52%, to INR 106.95 per kg in business turnover of 383 lots. Likewise, aluminium for delivery in July traded higher by 50 paise, or 0.48%, to INR 104.95 per kg in 1,354 lots. Marketmen said apart from increased domestic demand, a firming trend in the global market influenced aluminium prices at futures trade.
LME aluminium is expected to fall more to $1,783 per tonne, as it has pierced below a support at $1,798. The support is provided by the 61.8 percent Fibonacci retracement on the rise from the June 27 low of $1,758 to $1,863, and the next support will be at $1,783, the 76.4 percent retracement. A rebound seems to have been triggered towards $1,811, the 50 percent retracement, which is expected to serve as a limit. A drop below $1,794 will confirm the resumption of the current downtrend towards $1,783. 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.
Investor Mark Mobius said Aluminum Corp of China is a "good long-term bet" as one of the few producers of the metal set to benefit from the government's plans to reduce overcapacity. The mainland ordered more than 1,400 firms in 19 industries including aluminium to ease oversupply, according to a July 25 statement from the Ministry of Industry and Information Technology. While Chalco, China's biggest aluminium maker, would be able to raise the capital it needed as the government began to "winnow out" smaller producers, other companies would "fall by the wayside", Mobius said. "Chalco will be the one left standing," said Mobius, executive chairman of Templeton Emerging Markets. "The government doesn't want to see this excess capacity in the country." Chalco's American depositary receipts...
Bosnia's aluminium smelter, Aluminij Mostar, which has struggled to keep going due to high electricity costs, said it has secured an advantageous 100 megawatt (MW) power supply deal for the rest of 2013 with Slovenian electricity trader GEN-I. "The price agreed with GENI-I, including the transmission cost, will be lower from any contract we have had so far," Aluminij General Manager Ivo Bradvica said in a statement on Friday. The company did not disclose the price. The deal will help Aluminij, in the southern town of Mostar, continue production after it had threatened in June to halt operations due to high power costs and low metal prices. It marks the first time Aluminij, Bosnia's only aluminium smelter, has bought power on the open market. Bosnia's state-run power utility EPHZHB...
Noranda Aluminum Holding Corporation, an aluminum producer, will invest $45 million to significantly expand the footprint of its smelter in New Madrid, Missouri, creating 29 new jobs. "The aluminum smelter here in New Madrid accounts for approximately 13 percent of total U.S. primary aluminum production," says Layle “Kip” Smith, Noranda President and Chief Executive Officer. "Missouri's skilled workforce and competitive business climate have allowed us to compete in the global market and we look forward to our continued growth in aluminum production." This is the second major investment announcement by Noranda in the New Madrid facility in the past three years. In 2010, the company announced plans to invest $38 million to increase the aluminum smelter's annual metal-production capability...
Aluminium Bahrain B.S.C (Alba) presents its financial results as per the International Financial Reporting Standards (IFRS) accounting rules. All investors and reporters are asked to read Alba's First Half of 2013 Unaudited Financial Statements. Alba's results for the First Half as well as Second Quarter of 2013 are summarised below: Alba Reports H1 and Q2 2013 Results •Alba improves H1 2013 Net Income despite lower LME prices. •Aluminium physical demand remains healthy. •Interim Dividend of BD19.7m ($52.5m) proposed by the Board. Q2 2013 Industry Highlights: •Aluminium demand remains healthy with world consumption up by 4.8% year-on-year (YoY). Asian consumption up by 7% YoY propelled by Thailand (+21% YoY) and China (9% YoY). Demand in North America up by 2% YoY supported by higher...
