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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German aluminum producer TRIMET is interested to purchase St. Jean-de-Maurienne aluminum smelter and Castelsarrasin casting facility in France, which are both owned by Rio Tinto Alcan. This was confirmed by Jacynthe Côté, CEO of Rio Tinto Alcan, who said they received a binding offer from TRIMET. However, he refrained from disclosing the details of the offer pending a meeting with the board and the regulatory agencies. St. Jean-de-Maurienne shipped out 93,000 tons of primary metal in 2012. During the same period, the Castelsarrassin also produced 8,000 tons of aluminum wire for mechanical applications, company disclosures state. Both companies employ a total of over 500 workers. Rio Tinto Alcan is seriously considering the binding offer since this is in line with the company's overall...
Chinese Premier Li Keqiang recently emphasized the importance of pro-growth policy and economic restructuring, triggering anticipating that the central government will introduce economic stimulus soon. Fed Chairman Bernanke said the Fed will not taper off monetary stimulus for the foreseeable future, boosting market sentiment. This triggered a selloff of US dollar, pushing commodity prices up. However, the US initial jobless claims in the week ending July 6 rose to 360,000, souring investor sentiment. This helped the US dollar fall at a slower pace, forcing commodity prices to give back gains. LME aluminum touched a high of USD 1,847/mt during the European session, but pulled back at the tail of the session. Finally, LME aluminum closed at USD 1,831.5/mt, up USD 13.5/mt or 0.74%. LME...
Jefferies Group restated their neutral rating on shares of Noranda Aluminum Holding Corp. in a report issued on Monday, StockRatingsNetwork.com reports. They currently have a $4.25 target price on the stock, down from their previous target price of $4.75. “We mark to market our 2Q13 estimates for NOR, with one-month lagged aluminum prices lower than expected at $0.84/lb (compared to $0.91/lb estimate), lowering our estimate to a loss of $0.08 from a profit of $0.01. This lowers our 2013E EPS to $0.06 from $0.13. Our forward estimates remain unchanged.,” the firm’s analyst commented. Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of Noranda Aluminum Holding Corp. from an equal weight rating to an underweight...
Iran has produced 89,300 tons of aluminium ingots in the first three months of the current Iranian calendar year which started on March 21, 2013. The volume of aluminium ingot production in the country over the third Iranian calendar month of Khordad (May 22-June 21) stood at 30,100 tons which showed a nine per cent growth compared to the corresponding period a year earlier, IRNA reported. The report added that Iran produced 61,900 tons of alumina powder during the same period. The number showed an 11 per cent increase compared to the same period last year. Iran needs to import 120,000 tons of aluminium ingots per year, IRNA quoted a member of the Iranian aluminium producers syndicate as saying. Shahen Markarian added that the annual output is projected to be increased to 910,000 tons by...
Dubai Aluminium, which owns and operates one of the world's largest aluminium smelters, has engaged Rockwell Automation and its Global Solutions team to provide a commercial pot-control system for its proprietary DX+ Technology, currently being installed in the Phase II expansion at Emirates Aluminium in Abu Dhabi. The system is a major part of a multi-million dollar project that will add 520,000 additional tonnes of capacity to EMAL's potlines, which convert alumina powder into molten aluminium. Once completed, EMAL will be one of the largest single-site aluminium smelters in the world, with a total production capacity of 1.3 million tonnes per year. "We needed a flexible, robust and scalable commercial solution. Rockwell Automation met our needs with its Logix-based architecture, and by...
As with many industrial market trends today, the overcapacity problem stems from China’s rapid economic expansion. According to London-based research firm CRU, China now has an installed aluminum production capacity of 28 million tons and is producing at a rate of 24 million tons per year. The Chinese government has been making some efforts to pull back production. However, Diana Kinch, a reporter for Dow Jones, wrote recently in The Wall Street Journal that, on net, the efforts are not reducing capacity because of contradictory incentives: “[China] continues to build new smelter capacity in Xinjiang in the country’s northwest, where abundant coal makes energy cheaper than in other provinces and some new smelters gain tax incentives.” As such, the pressure to cut capacity has fallen on...
Australia's high-cost aluminium production is in the firing line amid sliding prices, with global giant Alcoa confirming its Victorian smelters are prime targets for capacity closures and Rio Tinto being urged to cut production from local assets. Alcoa, which kicked off the US reporting season with a second-quarter net loss of $130m this week, said it was committed to closing high-cost production as part of a review of 460,000 tonnes, or 11 per cent, of annual capacity. Rio's big aluminium unit, which was acquired in the $US40 billion acquisition of Alcan in 2007, is also coming under pressure to cut production as prospects for asset sales dwindle. Credit Suisse said Rio should be next after Alcoa's review, which followed an earlier shutdown of more than 500,000 tonnes of annual capacity...
Aluminium Bahrain B.S.C ( Alba ) was able to increase its overall sales on the back of higher production. Its sales figures for H1 2013 rose by 1.9% year-on-year to 454,428 metric tonnes (mt) ahead of the company's own forecast for the period. Production figures year-to-date were up by 2% -- reaching 452,727 mt versus 443,533 mt for the same period in 2012. In addition, Alba was able to capitalise on the sound demand of Value- Added products and closed the first half of 2013 with an average of 66% of total shipments versus 65% for the same period in 2012. Commenting on Alba 's sales and production for H1 2013, Alba 's Chief Executive, Tim Murray said: " Alba 's overall sales figures continued to gain momentum thanks to the successful implementation of a focused marketing strategy on the...
US-based aluminium maker Aloca has confirmed that its Victorian smelters are being considered for closure as it comes under pressure to reduce production. Alcoa reported a second-quarter net loss of $US 119 million this week, and has said that it would end high-cost smelter production as part of a 15-month review of its capacity announced in May. "We've got high-cost capacity in Australia, we've got high-cost capacity in southern Europe and we've got some higher-cost capacity in parts of Brazil," The Australian reports CFO Bill Oplinger as telling investors during a conference call earlier this week. The company’s two Victorian smelters, at Port Henry and Portland in Victoria, are two of its most expensive in the country. According to Aloca, these produce 30 per cent of the country’s...
Alcoa Inc.'s chief executive said Monday that he wasn't concerned about the rollout of a London Metal Exchange warehousing policy that may limit demand for the company's metal. Warehouses licensed by the LME have emerged as a source of demand for aluminum in recent years as banks and commodities traders took advantage of cheap financing to steer metal into their facilities. That metal has been slow to come back out even as aluminum demand rose, and the LME said last week that it wants to require facilities experiencing logjams to release more metal than they take in. Analysts say that the rule could limit demand for aluminum from warehouse owners, and lead to more metal making its way on to the market. That could further depress the already-weak aluminum price and, in turn, Alcoa's...
Alcoa Inc., the largest US aluminium producer, reported earnings that beat analysts’ estimates after a better-than-expected performance at its unit that supplies components to aerospace and power companies. Profit excluding expenses related to output cuts and a legal settlement were 7 cents a share, the New York-based company said in a statement Monday after the close of trading, beating the 6-cent average of 15 estimates compiled by Bloomberg. Sales fell 1.9% to $5.85 billion, surpassing the $5.79 billion average of nine estimates. Alcoa’s engineered products and solutions business saw operating income rise 12% from the first quarter, surpassing the 5% improvement forecast by the company back in April. It’s boosting sales at downstream divisions as chairman and chief executive officer...
Noranda Aluminum Holding Corp.‘s stock had its “neutral” rating reaffirmed by Jefferies Group in a research note issued on Monday, Stock Ratings Network.com reports. They currently have a $4.25 price target on the stock, down from their previous price target of $4.75. Jefferies Group’s target price suggests a potential upside of 30.77% from the stock’s previous close. The analysts wrote, “We mark to market our 2Q13 estimates for NOR, with one-month lagged aluminum prices lower than expected at $0.84/lb (compared to $0.91/lb estimate), lowering our estimate to a loss of $0.08 from a profit of $0.01. This lowers our 2013E EPS to $0.06 from $0.13. Our forward estimates remain unchanged.” Noranda Aluminum Holding Corp. traded up 2.46% on Monday, hitting $3.33. Noranda Aluminum Holding Corp....
The Aluminum Association announced today the hiring of Joe Quinn as the Vice President of Public Affairs, effective July 15. Quinn will oversee the policy communications, advocacy strategies and media relations for the trade group. Prior to joining the Aluminum Association, Quinn served as Vice President at Edelman, the largest public relations firm in the world, where he led public affairs and corporate reputation programs for Walmart, Toyota and the American Petroleum Institute, among others. He previously held the role of Managing Director at Xenophon Strategies, Inc. "Joe has a breadth of knowledge in communications and strategic public affairs, as well as experience inside Washington, and I'm glad to have him on board at the Association," said Pat Franc, Aluminum Association Chairman...
Alcoa Inc remains optimistic that global demand for aluminum will grow 7 percent this year, driven largely by demand from the aerospace and commercial transportation sectors, the largest aluminum producer in the United States said on Monday. The company also reported a larger-than-expected profit on productivity gains across all units, and strong performance from its engineered products and solutions business, which makes high-margin goods like aerospace fasteners, turbine blades and truck wheels. Excluding the impact of restructuring costs and costs tied to a legacy legal matter, Alcoa reported second quarter earnings of $76 million, or 7 cents a share. Analysts had been expecting earnings of 6 cents, according to Thomson Reuters I/B/E/S. "It looks much better than expected. It is good...
Energy expert, Dr Charles Wereko-Brobby, has said VALCO must not be shut down, but must be made to pay realistic tariffs. He said instead of subsidising VALCO’s energy tariffs, companies that benefit from the smelter’s operation must come together to contribute to the overall tariff of the company. Dr Wereko-Brobby explained: “without VALCO, all the aluminium companies would have to import ingots and then buy electricity from ECG at a high rate so that they can melt those ingots and use them”. Dr Wereko-Brobbey, who disagreed with a World Bank report which suggested the closure of the Volta Aluminium Company Ltd (VALCO) because it is a drain on the sector, said VALCO already delivers the melted ingots to the aluminum companies without them having to go through the difficulty of buying...
PT Indonesia Asahan Aluminium (Inalum) will be back to the Indonesian government on November 1, 2013, industry minister MS Hidayat said. "We have agreed on October 31, 2013 (the contract would end) and all Inalum assets would be handed over to the Indonesian government. On October 31 physically it will be back to the government while the assets transfer would be done on November 1," he said after a meeting at the office of the coordinating minister for economic affairs here on Monday. He said Inalum products would later be used to supply companies in Indonesia, adding the company would become a state-owned company. He said the government is now preparing a budget for the acquisition of the company now still under the name of Nippon Asahan Aluminium (NAA) worth Rp7 trillion. "The...
Eurozone finance minister agreed overnight to release bailout funds to Greece, pushing the euro up. Sustainable recovery in the US economy drove US stocks up. The US dollar index inched down as a result, boosting commodity prices. However, longs are cautious ahead of upcoming Chinese economic indicators and US Fed policy meeting. LME aluminum regained the 5-day and 10-day moving averages and broke through USD 1,800/mt during the European session thanks to short-covering. Later, LME aluminum was stagnant at the 5-day moving average due to shrinking trading volumes before finally closing at USD 1,803/mt, up USD 32/mt or 1.81%. LME aluminum inventories added 1,075 mt to 5,419,875 mt, but positions were off 422 lots to 766,224 lots. China will announce CPI and PPI for June, with profits at...
A consultant's report has called on aluminium producers, including BHP Billiton Ltd and Rio Tinto Ltd, to cut capacity in a bid to end the sector's prolonged stretch of limited profitability, according to The Australian Financial Review. The report's co-author, Boston Consulting Group's global leader for metals and mining Alexander Koch, said there is a consensus within the aluminium sector that the oversupply issue must be addressed but that no individual company is willing to be the first to act. “It's one of those situations where either capacity reduces at some point to be in tune with demand or you just prolong structural low profitability,” Mr Koch told the AFR. “The scale of the problem is too daunting to be resolved by individual companies acting independently and in their own...
