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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The aluminum cash price saw the biggest increase on the weekly Aluminum MMI® this week, rising 1.9 percent on the LME and settling at $1,807 per metric ton. Last week, the aluminum 3-month price increased by a slight 1.9 percent on the LME to $1,850 per metric ton. The cash price of primary Indian aluminum rose 0.5 percent after falling 2.5 percent during the previous week. Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum rose 0.3 percent after falling 0.7 percent during the previous week. The week finished with no movement for Chinese aluminum bar. Chinese aluminum billet remained unchanged for the week. The price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Korean 5052 coil premium over 1050 sheet remained...
The board of directors of Alcoa AA, a producer of primary and fabricated aluminum, miner of bauxite and refiner of alumina, authorised a quarterly common stock dividend of USD0.03 per share, the company reported on Friday. This dividend will be paid on 26 August 2013 to all shareholders of record at the close of business on 9 August 2013. Additionally, the board approved a quarterly dividend of USD0.93075 per share on the company's USD3.75 cumulative preferred stock, which will be paid on 1 October 2013 to shareholders of record at the close of business on 13 September 2013.
After three decades of business contracts, Indonesia has finally taken a bold stance to fully take over the operation of Indonesia Asahan Aluminium (Inalum), which operates the only aluminum smelter in Southeast Asia from Japanese consortium Nippon Asahan Aluminium (NAA) later this year. The move follows the heels of its much-hyped campaign to spur growth in the downstream industry as Indonesia, the world’s top exporter of raw mineral like thermal coal and nickel ore, aims to climb up the value chain and boost shipment of finished products. According to the plan, the government would take over the Japanese consortium’s 58.88 percent ownership in Inalum when the contract ends in October this year. Following the acquisition, the government, which currently holds 41.12 percent shares of the...
Century Aluminum is scheduled to issue its Q2 2013 quarterly earnings data after the market closes on Tuesday, July 30th. Century Aluminum opened at 10.30 on Monday. Century Aluminum has a 52-week low of $5.75 and a 52-week high of $10.60. The stock’s 50-day moving average is currently $9.75. The company’s market cap is $912.5 million. Several analysts have recently commented on the stock. Analysts at Merrill Lynch downgraded shares of Century Aluminum from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, June 19th. On a related note, analysts at Bank of America Corp. downgraded shares of Century Aluminum from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, June 19th. They now have a $9.00 price...
Aluminium Bahrain, a Gulf Arab aluminum smelter, said second-quarter net profit fell 42 per cent on year as metal prices and sales declined. Aluminium Bahrain, or Alba, made a 20.7 million Bahraini dinar ($55 million) net profit in the second quarter compared to 35.6 million dinars in last year’s second quarter, it said in an e-mailed statement. The decline was the result of unrealised derivative gains and low metal prices, it said. Sales for the quarter were 195.5 million dinar, down from 196.5 million dinar last year, it said. The company, which is majority-owned by the Bahraini government, said its board has recommended an interim cash dividend of 14 Bahraini fils per share.
Rio Tinto has reached a binding agreement for the sale of its 80 per cent interest in Northparkes to China Molybdenum Co., Ltd. (CMOC) for US$820 million. Rio Tinto chief financial officer Chris Lynch said "The sale of Northparkes represents great value for our shareholders and demonstrates our continued focus and discipline in the way we allocate capital across the Group. "Northparkes is a successful business but is not of sufficient size to be a good fit with our strategy. We believe it will have a strong future under its new ownership. Rio Tinto will continue to manage Northparkes to the highest safety and environmental standards during the transition to the new owner. "The agreed sale of Northparkes follows our recently completed divestment of the Eagle nickel project in the United...
Chinese government called off a combined heat and power (CHP) generation project by Baotou Aluminium Co. before it obtained an environmental impact statement. Baotou Aluminium ``arbitrarily’’ started constructing a CHP project in Baotou city of Inner Mongolia from May, 2013 without obtaining an updated environmental impact statement, the Ministry of Environmental Protection said in a statement on its website earlier this month. The ministry called it off and ordered the company to submit a correction report by August 16, 2013, it said. Baotou Aluminium is a subsidiary of Aluminium Corp. of China (Chalco).
The Deputy Chief Minister Dave Tollner will visit Gove today to update locals on progress with plans to get gas to the town. “We are taking this issue very seriously. We want to assure the people of Gove that we are working hard to find a long term solution to the town’s energy needs that is affordable for Territory taxpayers. We believe a viable proposal is now on the table,” Mr Tollner said. “Northern Territory taxpayers would have been exposed to a massive $3.2 billion gas pricing risk and the possibility of long term energy shortages if we had gone ahead with Pacific Aluminium’s original 300PJ request. "Accepting this request would have been fiscally irresponsible, adding to the $5.5 billion debt we inherited from Delia Lawrie and posing a threat to our credit rating. “The original...
Brewer Miller Coors last week told the US Senate that inflated aluminium prices were costing consumers $3bn a year, putting the focus on the stockpiles held by the Wall Street investment bank and the world’s largest commodity trading firm. Together, the two firms are estimated to control two-thirds of the world’s stockpiles of aluminium, with Goldman Sachs holding 1.5m tons, while Glencore has 2m tons in its warehouses. Aluminium prices have more than doubled in the past three years. At the same time, the amount stored in warehouses has hit a record 5.5m tons. The majority of the metal held in each of the firms’ warehouses is owned by their clients, which include hedge funds. But regulators have begun a crackdown on trading by big banks in commodity markets. The move has been given added...
Noranda Aluminum Holding Corp. declared a quarterly dividend on Wednesday, July 24th, Stock Ratings Network reports. Investors of record on Monday, August 5th will be given a dividend of $0.04 per share on Wednesday, August 28th. This represents a $0.16 dividend on an annualized basis and a yield of 4.97%. Several analysts have recently commented on the stock. Analysts at UBS AG downgraded shares of Noranda Aluminum Holding Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $3.50 price target on the stock, down previously from $4.25. On the ratings front, analysts at Zacks downgraded shares of Noranda Aluminum Holding Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, July 19th....
Following the smooth and efficient commissioning of two new CVC plus six-high cold rolling mills, Chinese aluminum producer Luoyang Wanji Processing Company issued the Final Acceptance Certificate (FAC) for both mills to SMS Siemag, Germany. On cold rolling mill No. 1, the first strip had already been rolled in 2012. The FAC was granted before the end of the year, marking the successful completion of the hot commissioning phase, with the rolling mill becoming an integral part of production operations. This success was repeated on March 30, 2013, when also for cold rolling mill No. 2 the FAC was granted. Luoyang Wanji’s new production facilities in the province of Henan in East China now boast installed production capacities totaling 260,000 tons per year. The commissioning of these plants...
The German aluminum producer Trimet has agreed to acquire two of Rio Tinto’s aluminum plants in France. The plants had become high-cost producers, and Rio Tinto had been seeking to sell the facilities as a way to reduce its overall costs. The two facilities are located in Saint-Jean-de-Maurienne and Castelsarrasin. For Trimet, the acquisitions allows the company to extend its portfolio of specialized light metal products. The deal with Rio Tinto is conditional upon the approval of the regulatory authorities and the execution of an energy supply agreement and a partnership arrangement with Electricite de France (EDF). The production plants were set up by the French aluminum manufacturer Pechiney, which had been taken over by Rio Tinto Alcan. The aluminum plants produce aluminum wire rod...
The premium aluminum buyers are expected to pay for supplies in the U.S. fell for a second week as lawmakers stepped up scrutiny of bank involvement in warehousing, according to Harbor Intelligence. The premium slipped to 11.5 cents to 12 cents a pound this week, from 11.8 cents to 12 cents a pound last week, Jorge Vazquez, managing director of the Austin, Texas-based researcher, said in a report. The fee, which is added to the price of metal for immediate delivery, reached a record 12 cents to 13 cents in June. A Senate panel held a hearing this week to examine banks’ ownership of warehouses and other commodity assets after consumers complained of long waits and rising costs. The inquiry came three weeks after the London Metal Exchange proposed measures to help unclog growing queues at...
Shipments of rolled-aluminum products by Japanese fabricators to domestic and overseas markets decreased 8.6 percent in June, the eighth month of decline, an industry group said today. Volume declined to 161,854 metric tons last month from 177,050 tons a year earlier, the Japan Aluminium Association said in a report.
Alcoa Inc., the largest U.S. aluminum producer, is urging the London Metal Exchange to provide more transparency into its marketplace for the lightweight metal. The current system isn’t sustainable, Klaus Kleinfeld, Alcoa’s chairman and chief executive officer, said in an interview. At stake, he said, is the London exchange’s relevance as the price-setter to producers and users of aluminum, the metal used in products from beer cans to aircraft. “The outcome of price determination that is not transparent is eventual lack of trust,” Kleinfeld said by phone yesterday. “People will look for alternatives.” Alcoa joins United Co. Rusal, the world’s largest aluminum producer, and Norsk Hydro ASA (NHY), Europe’s third-largest producer, in calling on the LME to reveal more about who holds metal...
Aluminium futures today fell by 0.57% to Rs 104.90 per kg, largely in tandem with a weakening trend in base metals overseas and subdued demand at domestic markets. At the Multi Commodity Exchange, aluminium prices for delivery in July traded 60 paise, or 0.57%, lower at Rs 104.90 per kg in a business turnover of 205 lots. The metal prices for delivery in August traded 50 paise, or 0.47% down at Rs 106.85 per kg in two lots. Market analysts said apart from subdued spot demand, weakness in base metals in the global market after China's manufacturing weakened further in July, mainly led to a fall in aluminium prices at futures trade.
China has ordered metal smelters to close outdated capacity by the end of September and dismantle it by the end of this year, the Ministry of Industry and Information Technology said in a statement on Thursday. The top global producer and consumer of metals has set yearly plans to close outdated capacity since 2009 as part of efforts to cut energy consumption and emissions. This year, the closing deadline is earlier, compared with the year-end in previous years. The ministry ordered the closure of 654,400 tonnes of outdated copper capacity by the end of September, the statement said. A total of 260,000 tonnes of outdated aluminium capacity is also required to be closed, the ministry said on its website(www.miit.gov.cn). The ministry ordered 807,000 tonnes of lead capacity and 146,200...
China exported 76,779 mt of anhydrous aluminum fluoride in H1, 2013, up 35% YoY. Artificial cryolite exports, however, fell 3% YoY to 9,953 mt. Fluoride salt exports totaled 86,732 mt, an increase of 29% YoY, according to China Customs. The export price of anhydrous aluminum fluoride averaged USD 1,233/mt in H1, down 19% YoY. The average export price of artificial cryolite, in contrast, rose 4% YoY to USD 916/mt. Anhydrous aluminum fluoride is mainly used by aluminum smelters. Aluminum producers bought less anhydrous aluminum fluoride against depressed aluminum prices and lackluster downstream demand, forcing domestic anhydrous aluminum fluoride producers to ramp up exports. Artificial cryolite is used in not only aluminum industry, but also glass and chemical sectors. Given the limited...
