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
US service centers shipped 121,900 mt of aluminum products in June, down 5.4% from June 2012, the Metals Service Center Institute said Wednesday. Aluminum shipments in the first six months of the year totaled 739,000 million mt, 6.8% below the same period last year, MSCI said in a statement. Inventories of aluminum products hit 366,900 mt at the end of June, a decrease of 2.7% over June 2012. MSCI said that at the current shipping rate, this represents a 3-month supply in aluminum inventory, up slightly from 2.9 months a year ago. It said 12,900 mt of aluminum products were shipped by Canadian service centers in June, 4.8% below the same month last year. Canada's aluminum shipments in the first five months of 2013 were 79,900 mt, 4.2% below 2012. Canadian service center inventories of...
Despite landslides, equipment breakdown and wet weather, London-based mining giant Rio Tinto has been blessed with good news in the shape of increased output, not only from iron ore, but also aluminium in H1 2013. According to CEO Sam Walsh, who took over from Tom Albanese at the beginning of the year, the company's iron ore operations continue to be impressive and, surprise, surprise, aluminium production is showing promise too. The company's H1 2013 production figures for aluminium are up 7% when compared with last year. Rio Tinto plans to strip out $5 billion of costs from the global business by the end of 2014 – and this includes selling off (or parting company with) aluminium assets in Australia and New Zealand, badged as Pacific Aluminium.
Aluminium prices edged up by 0.62% to INR 105.85 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 July inched up by 65 paise, or 0.62%, to INR 105.85 per kg in business turnover of 647 lots. Likewise, the metal for delivery in August traded higher by 60 paise, or 0.60%, to INR 107.45 per kg in 94 lots. Marketmen said apart from increased domestic demand, a firming global trend helped aluminium futures to trade higher.
European stocks rose on Tuesday as investors took their cue from better-than-expected earnings from US aluminium giant Alcoa and after the eurozone released of billions of euros in fresh aid for Greece, dealers said. The optimism stayed high even as the International Monetary Fund slashed its global economic growth forecast, citing new downside risks in key emerging-market economies and a deeper recession in the eurozone. Meanwhile, economy and finance ministers from all 28 European Union countries gave the final green light to Latvia to join the eurozone from the start of 2014. In afternoon deals, London's FTSE 100 of leading companies advanced 1.04 percent to 6,516.87 points and Frankfurt's DAX 30 gained 1.32 percent to 8,074.07. In Paris, the CAC 40 increased 0.69 percent to 3,850.21...
Signals are mixed for LME aluminium, as it is not clear how high the current rebound could reach. The rebound followed the completion of a five-wave cycle around a support at $1,794, the 61.8 percent Fibonacci retracement on the rise from the June 27 low of $1,758 to the July 12 high of $1,851.25. Aluminium has paused around a resistance at $1,816 - the 38.2 percent retracement - a break above which will open the way towards $1,829, as the wave theory indicates that this rebound may stop at any level below $1,845, the presumed wave ii peak. 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...
Losses at China COSCO Holdings (1919) and Aluminum Corporation of China (2600) were the worst of the lot for the nation's 500 largest companies last year. The website of Fortune magazine's China edition yesterday released its latest list yesterday, ranking the 500 mainland firms according to revenue, which had to be at least 7.25 billion yuan (HK$9.06 billion). Of the 500, 46 turned in a net loss - double the number of companies in 2011. The news happened on the same day China COSCO announced that its chairman Wei Jiafu is retiring with immediate effect. The shipping giant has booked losses for the past three years in a row. Sinopec (0386) and PetroChina (0857) topped the scales in revenue terms. China State Construction Engineering replaced China Mobile (0941) in the third spot on the...
Montenegrin Prime Minister Milo Djukanovic on Tuesday blamed parliament for stalling the rescue of the bankrupt Podgorica Aluminum Plant, KAP. Djukanovic said owing to the lack of cooperation between parliament, the state run Power Industry and the factory, the government had been forced to halt production in KAP. Djukanovic said there is still room for restructuring the plant. But for this to be achieved, MPs will have to agree on a way for the KAP to settle its debt towards the Power Industry. Opposition parties and the junior party in the government, the Social Democratic Party, have opposed a budget review that the governing Democratic Party of Socialists, DPS, is trying to pass in order to tackle the fiscal instability caused by the plant's debts. KAP's debt towards the Montenegrin...
Press Metal Bhd's aluminum smelting plant in Malaysian Borneo could stay shut for three to six months after a six-hour power outage on June 27, a company official. "We are assessing the impact," the official said on Wednesday. "We still have another plant (in Samalaju) up and running to meet customer orders." Press Metal Sarawak Sdn Bhd, a unit of Kuala Lumpur-listed Press Metal, suffered the sudden shutdown at its Mukah plant, which led to a significant drop in temperature in production pots, the company said in a local stock exchange filing early this month. The unexpected shutdown of the Mukah plant led Malaysian Rating Corp Bhd to downgrade Press Metal's outstanding RM317.5 million redeemable secured loan stocks with detachable warrants to BBB from A-. Press Metal's Mukah plant has a...
Contact Energy and state-owned Genesis Energy are the two power companies most at risk if the Tiwai Point aluminium smelter closes, says a senior Standard & Poors analyst, Richard Creed. In an interview televised on the Reuters Insider programme, Creed, who is S&P's director of corporate and infrastructure ratings in Australia, picked all the listed power companies in the New Zealand market as sources of stable dividend yields over coming years. That's because no new power stations will need to be built in the foreseeable future because of "flat to slightly declining demand" for electricity. Contact, Genesis, MightyRiverPower, and Meridian Energy are all rated BBB on stand-alone basis, but the early closure of the Rio Tinto-owned Tiwai Point smelter, which uses around one-seventh of the...
The struggling Bell Bay Aluminium smelter will cut 18 jobs as it continues to face "extremely challenging" market conditions. General manager Ray Mostogl said the decision followed a streamlining of work on site that had resulted in increased efficiencies and cost savings in the maintenance area. Six of the roles being reduced are currently vacant. Employees in affected positions will be offered other roles or redundancies. "Aluminium prices remain very low and we are working with employees, contractors and suppliers to identify efficiencies and cost savings to help make the smelter viable," he said. The cuts come despite the smelter achieving a record production level in 2012. The Bell Bay smelter is part of Pacific Aluminium group which has been put on the market by Rio Tinto. The...
The value of Middle East and North African mergers and acquisitions rose by 30 per cent to US$14.7 billion in the first half of the year, aided by the merger of two UAE aluminium producers. The $7.5bn merger of Emirates Aluminium (Emal) and Dubai Aluminium (Dubal), announced last month, helped the regional M&A market to enjoy its best first half since 2008, according to the investment banking analysis released by Thomson Reuters yesterday. "The UAE was the most active Middle Eastern country, being both the most targeted and the most acquisitive country in the region so far this year," said Russell Haworth, the managing director, Middle East & North Africa at Thomson Reuters. "India was the most popular target for outbound Middle Eastern M&A transactions, while the United States registered...
Aluminium Bahrain B.S.C. (Alba) remains committed to provide opportunities for young Bahrainis to gain a taste of professional life as the company announced the commencement of the month-long Alba Annual Summer Training Programme 2013 on Monday, July 8, 2013 The Alba Annual Summer Training Programme is aimed at providing high school graduates, university students and Bahrain Training Institute trainees along with children of Alba's employees the chance of working in Alba during their summer break. Alba's Acting Director for Administration, Abdul Rahman Janahi and Training & Recruitment Manager, Rawdha Salman Alaradi presided over the opening ceremony of the training programme. They were joined by other company officials at the event. Commenting on the start of the Alba Annual Summer...
Below are the three companies in the Aluminum industry with the highest forward price to earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.Noranda Aluminum ranks highest with a a forward P/E ratio of 35.64. Following is Century Aluminum with a a forward P/E ratio of 17.57. Kaiser Aluminum ranks third highest with a a forward P/E ratio of 13.85. Alcoa follows with a a forward P/E ratio of 11.71, and Alumina rounds out the top five with a a forward P/E ratio of 7.63. SmarTrend is tracking the current trend status for Alcoa and will alert subscribers who have AA in their portfolio or watchlist when shares have changed trend direction.
Alcoa announced today that it intends to permanently close its Fusina (Venice, Italy) primary aluminum smelter, which has been curtailed since June 2010. The planned closure will reduce Alcoa’s global smelting capacity of 4.2 million metric tons per year by 44,000 metric tons. The intended closure of Fusina’s 44,000 metric tons is in addition to the 460,000 metric tons of operating smelting capacity that Alcoa previously announced was under review. “The underlying conditions that led Alcoa to curtail the Fusina smelter in 2010 have not fundamentally changed,” said Alcoa Global Primary Products President Bob Wilt. “Global aluminum prices remain weak and we must take action to maintain Alcoa’s competitiveness.” Alcoa will work with affected communities to explore ways to redevelop the...
The Supreme Commercial Court has rejected an appeal by Rusal's Krasnoyarsk aluminum smelter on the rules of the wholesale energy market, a court representative told RAPSI on Friday. The applicant requested the court to invalidate two paragraphs of the wholesale energy market regulations. The regulations were approved by a government resolution on December 27, 2010 pursuant to the law on power generation and set out the operations rules for the wholesale energy market. Rusal Krasnoyarsk said in its application that it had entered into a power sale and purchase agreement with the Krasnoyarskaya hydroelectric power plant on the wholesale market. But since the regulations provided for a markup of energy prices, the Krasnoyarsk smelter had to pay an extra 914,8 million rubles ($28.1 million at...
The US dollar index rebounded last Friday following two days of declines, keeping LME aluminum in check. Investors pulled out of the market ahead of the release of China’s 2Q GDP, causing trading volumes to fall to around 10,000 lots. LME aluminum broke through the 30-day moving average to USD 1,851.3/mt, but fell back at the tail of the session to close at USD 1,839.3/mt, up USD 7.8/mt or 0.42%. LME aluminum inventories fell 5,675 mt to 5,411,425 mt, but positions increased 3,558 lots to 768,923 lots. The light metal will move within tight ranges ahead of the announcement of China’s 2Q GDP due today. LME aluminum should stagnate at USD 1,830/mt and move within USD 1,820-1,840/mt on Monday. SHFE 1310 aluminum contract will open flat at RMB 14,350/mt, with prices between RMB...
High production costs and a lower-than-expected economic recovery have led to a slower pace of aluminium output and under-performing light metal prices in China. The Chinese aluminium industry is in the process of shifting its production base to Western China where it will benefit from abundant coal resources and this, combined with a depressed global macroencomic situation, means that prices will remain weak. Shifting aluminium production to western China is due to a power crisis in China's central and eastern regions in 2009/2010. In the Xinjiang Uygur Autonomous Region of western China, a total of 10 large aluminium companies have invested in projects with a planned capacity of more than 15Mt. By the end of June 2013, actual aluminum capacity in Xinjiang reached about 3.3Mt, of which...
Japan's demand for aluminum extrusion for aging residential building repair is forecast to surge 57% in 2022 from the volume required in 2012, the country's Kenchiku Kaiso Kyokai or Building Repair Association said Friday. A boom in high-rise condominium construction in the early 1960s will result in the need to replace aluminum window frames and sliding doors peaking in 2022, when many buildings hit the 60-year mark, association secretary general Yoichiro Sazuka said in an interview with Platts. Sales of replacement aluminum window frames and sliding doors for established condominiums totaled Yen 47.7 billion ($477 million) in the fiscal year April 2012-March 2013, referred to in Japan as fiscal 2012, up 11.9% year on year. The figure does not include sales to new homes. The association...
