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...
Grow with
AL Circle
According to the Government's privatisation timetable, the sale of 49 per cent of Meridian Energy will occur some time in the next 10 weeks. However, for that to happen, there must first be a resolution of Meridian's big problem with its biggest customer, the Tiwai Point aluminium smelter, owned by Rio Tinto subsidiary Pacific Aluminium. Meridian chief executive Mark Binns has talked a good game on this one, claiming defensibly, if rather bravely, that losing the smelter as a customer would help the largest hydro-electricity generator in the country because it could sell its juice more profitably elsewhere. With PacAl required to give somewhere between five and six years' notice of its intention to wind down and close the smelter, Binns reckons there would be time for a grand shakeout...
Figures released by the Strategic Resource Institute show that Rio Tinto Alcan has increased production of bauxite, alumina and aluminium for Q2 2013 when compared to the same period last year. Bauxite production was up by 21%, alumina production up by 15% and aluminium production also up by 15%. The global mining giant expects its share of bauxite, alumina and aluminium production in 2013 to be 34Mt, 7.3Mt and 2.5Mt respectively. In terms of its H1 2013 performance, the company has recorded a 16% increase in bauxite when compared with H1 2012, a 7% increase in alumina and a 14% increase in aluminium. Pacific Aluminium figures, on the other hand, paint a gloomy picture with bauxite production in Q2 2013 down 4% on the same period in 2012, alumina production down 30% and aluminium...
Tim Weiner, MillerCoor's global risk manager has drawn attention to the LME warehousing situation and its effect on aluminium pricing and delivery. Mr Weiner highlighted what he called the development of an 'economic anomaly' in the global metals market that has resulted in higher prices despite a glut in supplies. Speaking in a statement to the US Senate banking committee, Weiner said that a lack of regulation in the USA and the UK were to blame for the problem and added that US banks have 'effective control of the LME'. It is thought that Weiner's outspoken comments on the subject will prompt some kind of action on what has become a controversial issue for the aluminium industry. A hearing is scheduled for next week in which senators will discuss bank ownership of metals warehouses and...
Roy Harvey has been appointed chief operating officer for Alcoa's Global Primary Products (GPP) and will focus on the day-to-day operations at the aluminium giant's 22 aluminum smelters and nine alumina refineries worldwide. Harvey, a member of Alcoa's Executive Council, will also oversee the company's bauxite assets in Australia, Brazil, Jamaica, Surinam, Guinea and Saudi Arabia. He was previously chief financial officer, a role now taken up by Leigh Ann Fisher, previously group controller for GPP. In her new role, Fisher will become a member of the Executive Council. Klaus Kleinfeld, Alcoa's chairman and chief executive officer, praised Harvey's 'impressive international track record' and his acute financial expertise and operational insight. He said that Leigh Ann’s solid foundation in...
China will raise production requirements and controls to rein in further expansion in its bloated aluminium sector, the Ministry of Industry and Information Technology said on Wednesday, as the government gets serious about tackling a string of industries that are facing overcapacity problems. The ministry would publish a list of firms that meet the new requirements and the firms would receive help such as credit from the government, according to a statement on the ministry website (www.miit.gov.cn). Higher requirements could mean some existing aluminium smelters shut their capacity for upgrading before end-2015, restricting production of primary aluminium in the world's top producer of the metal. The stricter controls were aimed at tackling overcapacity and pushing company mergers and...
State-owned power company Meridian Energy says talks are "ongoing" on renegotiating a power contract with the Tiwai Point aluminium smelter. Media reports today suggested that a new deal was all but signed. That would help clear the way for the Government's partial privatisation of Meridian this year. But Meridian said power contract talks continued, about a year after they started. "They are ongoing but we are unable to say anything else until there is some resolution," a Meridian spokeswoman said. The talks remained confidential, and the spokeswoman would not even say whether discussions were being held in Wellington. The "robust" negotiations had not continued constantly for the past year. "It is a big contract and a very complicated one," she said. There was no prospect of a press...
The London Metal Exchange, the world’s biggest metals marketplace, said there is no “reported shortage” of aluminum after buyers complained about inflated costs and backlogs at the bourse’s storage network. Consumers can buy the metal used in cars and beverage cans directly from producers as they always have done, the LME said in a statement e-mailed today, in response to a U.S. Senate subcommittee hearing today on whether banks should own warehouses or oil refineries. The total price of aluminum has fallen 40 percent since July 2008, the LME said. The exchange is legally restricted from limiting rents and can’t prevent trading companies from owning warehouses, it said. Global aluminum costs were inflated by $3 billion in the past year through LME rules that allow Goldman Sachs Group Inc....
Aluminium futures today fell by 0.74% to INR 106.60 per kg largely in tandem with a weakening trend in base metals overseas after China's manufacturing activity weakened further in July amid low demand at domestic spot markets. At the Multi Commodity Exchange, aluminium prices for delivery in July traded 80 paise, or 0.74%, lower at INR 106.60 per kg in a business turnover of 386 lots. Similarly, the metal prices for delivery in August traded 70 paise, or 0.64% down at INR 108.35 per kg in two lots. Globally, aluminium dropped 0.8% to $1,830.75 per tonne. Market analysts said apart from subdued spot demand, weakness in base metals at the London Metal Exchange on demand concerns after China's manufacturing weakened further in July, mainly hit aluminium prices at futures trade.
The future of the gas to Gove pipeline may once again be in doubt as nobody wants to pay for its construction. The NT Government gave up a decade's worth of cheap public gas to mining giant Rio Tinto in February after the company threatened to shut the Gove alumina refinery and sack 800 people. But Rio subsidiary Pacific Aluminium does not just need the cheap energy, it needs a pipeline to get it there. Cost estimates vary from $500 million to $900 million. In February, industry analysts said taxpayers would be asked to pay as the refinery was running at a loss. At the time Pacific Aluminium chief executive Sandeep Biswas denied this would be the case. "The private sector will fully fund gas to Gove," he said. Australia's biggest pipeline company APA Group is now in talks with Pacific...
Some of the world's biggest commodities traders - including market giants Goldman Sachs and Glencore Xstrata - have been ordered by a US regulator to preserve of all internal documents and emails relating to the storage of aluminium ahead of a potential investigation. The New York Times reported that the US Commodity Futures Trading Commission is looking into how aluminium is shipped and stored by subsidiaries owned by the same banks that also trade in the metal. Fears have been raised that storage rents were artificially pushing up the spot price of aluminium. An NYT investigation claimed that a Goldman Sachs subsidiary shuffled aluminium stocks around its warehouses each day, lengthening storage times and bloating rental costs, which pushed up the metal's market price and produced...
Brazil‘s primary aluminum output in the first half of 2013 reached 666,000t, down 8.4% from 727,300t year-on-year, national aluminum association Abal said. According to the latest data available in Abal’s website, primary aluminum exports in the January-May period of 2013 totaled 207,400t, down 1.5% from 210,500t in the same period. Finished aluminum exports in the first five months of the year reached 39,800t, a 16.2% decrease from 47,500t exported in the same period of 2012. Imports of primary aluminum products in January to May totaled 32,900t, down 31.5% from 48,000t in the same period. Finished aluminum imports in the period reached 70,800t, up 6.5% from 66,500t imported in the first five months of 2012. Companies associated with Abal are CBA, part of local conglomerate Votorantim,...
Some Chinese aluminium producers are reopening closed capacities after recent price rebounds narrowed their losses, Shanghai Metals Market (SMM) has learned. Guangxi Baise Yinhai Aluminium Co. restarted a 100,000-tpy plant in late June and is now running at a total capacity of 200,000 tpy. Guangxi Laibin Yinhai Aluminum Co. is scheduled to restart a halted 180,000-tpy plant in August, by which time its total working capacity would add up to 240,000 tpy. It was reported in June that a total of 1.33 million tpy aluminium-making capacities in China were shut or were planned to be. Actual cuts were limited, though, to only 400,000 tpy, and were mainly concentrated in Henan province, SMM learned. Aluminium Corp. of China (Chalco) was said to be planning to reduce capacities of 300,000 tpy at...
The European Commission Tuesday approved the acquisition of joint control over Dubai Aluminium (DUBAL) by DUBAL Holding and Industry Holding Company (MDCI), all of the United Arab Emirates. DUBAL is currently solely controlled by DUBAL Holding. It produces and sells aluminum products. MDCI and DUBAL Holding are global investment companies. The EU's executive body in a statement concluded that "the proposed acquisition would not raise competition concerns given the very limited overlap between the parties' activities and the presence of other competitors.
Noranda Aluminum Holding Corp. was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, Analyst Ratings Network reports. They currently have a $3.20 price objective on the stock. Zacks‘ target price would suggest a potential downside of 5.88% from the stock’s previous close. Shares of Noranda Aluminum Holding Corp. traded up 0.88% during mid-day trading on Friday, hitting $3.43. Noranda Aluminum Holding Corp. has a one year low of $3.16 and a one year high of $7.85. The stock’s 50-day moving average is currently $3.62. The company has a market cap of $232.9 million and a P/E ratio of 6.92. Noranda Aluminum Holding Corp.last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.02) earnings...
On Friday, July 19, the day’s biggest mover was the cash price of primary Indian aluminum, which saw a 1.3 percent increase. On the LME, the primary aluminum cash price declined 1.1 percent to $1,753 per metric ton. On the LME, the aluminum 3-month price fell 1.1 percent to $1,797 per metric ton. Chinese aluminum closed mixed last Friday. The cash price of Chinese aluminum increased 0.2 percent. Chinese aluminum scrap held its value last Friday. The price of Chinese aluminum billet held steady, and Chinese aluminum bar saw little movement.
Global primary aluminum output averaged 68,100 mt/day in June, flat from 68,100 mt/day in May but higher than 67,700 mt/day in June 2012, figures released Monday by the International Aluminium Institute showed. Total production in June (30 days) was 2.042 million mt, down from 2.112 million mt in May (31 days) but higher than 2.030 million mt in June 2012. Production for January-June 2013 was 12.355 million mt at an average of 68,300 mt/day, compared with 12.439 million mt in the first six months of last year.
MillerCoors LLC has urged U.S. lawmakers and regulators to press for greater regulatory oversight of the London Metal Exchange, the world’s largest metal market, after years of inflated aluminium prices that have cost the industry billions of dollars. “We simply ask for the same regulatory and legislative oversight of the LME that other U.S. futures exchanges receive,” Tim Weiner, global risk manager for the brewer, said in a submission sent to the U.S. Senate banking committee on Monday. That would level the playing field and ensure transparency for both buyers and sellers of metal, he said in the statement which he will present on Tuesday at a hearing on Wall Street banks’ ownership of physical commodity assets. His comments come as regulatory scrutiny of banks’ ownership of physical...
If Century Aluminum's pending application with Kentucky regulators to access cheaper wholesale power is not approved by August 20, the company's 244,000 mt/year Hawesville smelter will close and probably never reopen, the company said in a new filing Friday with the Kentucky Public Service Commission. On August 20 a longstanding power purchase agreement between Chicago-based Century and Big Rivers Electric is scheduled to expire. Big Rivers, a generation and transmission co-op in Henderson, Kentucky, has supplied about 550 MW to Hawesville for years. In June, Big Rivers submitted an application to the PSC to allow Century to bypass the co-op and buy electricity directly from the market. In the Friday filing, Sean Byrne, plant manager at Hawesville, said the smelter's current average power...
