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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A Montenegrin court has launched bankruptcy proceedings at the country's single biggest industrial employer, indebted aluminium plant Kombinat Aluminijuma Podgorica (KAP), a court official said on Monday. Proceedings were set in motion over a 24-million euro ($30.8 million) debt to Deutsche Bank, the deputy head of the Commercial Court in Podgorica, Dragan Rakocevic, said in a statement. The Adriatic state last month asked the court to consider bankruptcy for the smelter, which is co-owned by the state and the Central European Aluminium Company of Russian billionaire Oleg Deripaska. KAP employs 1,200 people and accounted for 4.7 percent of Montenegro's economic output last year, but is nursing a total debt of some 350 million euros. ($1 = 0.7792 euros)
Bob Wilt’s first job at Alcoa Inc. (AA) was in 1999 at a plant in the Tennessee town named after the company. In 2012, as head of the aluminum producer’s U.S. smelters, he oversaw the plant’s demolition. As the new president of Alcoa’s global primary products business, the Gulf War veteran will now likely need to cut more production capacity after competition from China and a 15 percent slump in aluminum prices made the New York-based company the worst-performing stock in the Dow Jones Industrial Average this year. Alcoa, which had its credit rating cut to junk by Moody’s Investors Service in May, will report after today’s close that its earnings were unchanged from a year ago, according to analysts’ estimates compiled by Bloomberg. “You look back fondly on the experiences you had, but at...
Shanghai-based Baosteel has given hints in its latest six-year plan (spanning 2013 to 2018) that it intends to enter the aluminium industry, possibly in some kind of joint venture with Chinalco and with a view to making parts for the automotive industry. According to a report in the latest edition of China Metals, the words ‘aluminium’ and ‘going global’ are key words for the Chinese steel producer, which claims that in times of low profitability within the steel industry, it is necessary for the company to seek co-operative arrangements on the production of automotive products. The company says that ‘going global’ is crucial and that it aims to sell most of its products in overseas markets by 2018. What percentage of that will be aluminium is not known.
With low aluminium prices causing no end of despair on the global market, there appears to be no let-up on primary production in China with new capacity coming on stream and May’s production of 1.77Mt pointing to an annualised rate of 20.8Mt. From January to May, China produced 8.73Mt of primary metal, up 8.25% on the same period last year, with Xinjiang’s five-month production up a staggering 185%, followed, not even closely, by Guangxi with 40%, Shaanxi (34%) and Guizhou (32.62%). Chinese exports of primary aluminium for the period were 45.8Mt (a decline of 11.6%) while imports year-on-year declined by nearly 70% to 81kt. May’s primary metal imports increased by 55.5% to 21.8kt. Over the five-month period, semis production reached 14.6Mt, up 23.5% year-on-year compared with 14.6% growth...
The London Metal Exchange appointed Andrew Caplan, head of Glencore Xstrata Plc’s aluminum division, to its aluminum committee, according to the bourse’s website. Sam Hainsworth of JPMorgan Chase & Co. (JPM) also was named to the panel, which is scheduled to hold its next meeting Oct. 9. The LME committees comprise producers, consumers and traders of the industrial metals bought and sold on the exchange. The aluminum committee has 12 members including United Co. Rusal, Alcoa Inc. and Trafigura Beheer BV.
The Middle East’s aluminium industry is in an advantageous position, and can play a key role in industry consolidation and the development of new globally active players, shows a new report by The Boston Consulting Group (BCG). The Middle East’s strategic position is supported by the recent $15 billion merger of Dubai Aluminium (Dubal) and Emirates Aluminium (Emal) to create Emirates Global Aluminium, the world’s fifth-largest aluminium producer. The GCC aluminium market’s cost advantage is supported by its proximity to Europe, Asia and Africa and growing aluminium demand from the construction, packaging, transportation and industrial sectors. We are seeing local players make strategic movements both upstream and downstream as they build viable value chains and further aluminium-driven...
The state of Montenegro is seeking a financing solution for the country's loss-making aluminum foundry to bail Kombinat Aluminijuma Podgorica out of heavy debts, the Finance Ministry of Montenegro said. This could benefit Hungary's OTP Bank which, together with Russia's VTB Bank, has EUR 102 million in outstanding loans to the industrial plant. Kombinat Aluminijuma Podgorica has strategic importance for the Montenegrin economy, contributing nearly 5% of GDP. The company is making losses on a massive level and requires a monthly EUR 3 million in government subsidies to remain operational. Negative profit totaled EUR 16.2 million in Q1 2013. The state of Montenegro is a 29% sharehgolder, with another 29% stake held by Russian billionaire Oleg Deripaska. Approximately 40% is held by numerous...
The Middle East's aluminium sector is in an advantageous position and can play a key role in industry consolidation and the development of new globally active players, a new report by Boston Consulting Group (BCG) reveals. "The GCC aluminium market's cost advantage is supported by its proximity to Europe, Asia and Africa and growing aluminium demand from the construction, packaging, transportation and industrial sectors," said BCG partner and co-author of the report Thomas Bradtke. "We are seeing local players make strategic movements both upstream and downstream as they build viable value chains and further aluminium-driven manufacturing," he added. To re-ignite the value-creation engine and restore investor confidence, chief executives and their management teams can pursue aggressive...
Any major change to the electricity pricing regime for mining major BHP Billiton’s aluminium smelters in Richards Bay will have a severe impact on the smelters’ commercial viability and sustainability, which could cause significant job losses and, therefore, have a major impact on the South African economy, the mining company states. According to research done in 2012 by South African economic analysis and business modelling services consultancy Econometrix, the BHP Billiton Bayside and Hillside smelters jointly created 7 000 jobs in KwaZulu-Natal (KZN), primarily in the Richards Bay area, positively impacting on the livelihood of more than 33 000 people in northern KZN. The 2012 Econometrix report states: “The aluminium industry has given rise to a downstream industry. Sales to the...
Russian billionaire Oleg Deripaska has declined a bonus for 2012 and will use the money to buy shares for employees. Aluminium company Rusal says the $3m (£2m) bonus will be used to reward around 120 employees with shares. Mr Deripaska, who is worth $8.5bn (£5.5m) according to Forbes, has been chief executive of Rusal since 2009. The company said that the share award is a one-off programme, but if it was successful, awards to employees would increase through new schemes. Shares will mainly be awarded to employees working in Rusal's factories; both Russian and international production sites. The number to be purchased represents 0.05% of the total number of Rusal shares in issues.
Spot aluminium stockpiles fell for the 13th consecutive week in China as some producers delivered their output to State Reserve Bureau (SRB), according to a survey by Shanghai Metals Market (SMM). Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai, Wuxi, Nanhai and Hangzhou -- dropped to 875,000 tons this week. They were down 41,000 tons from a week ago, and compared to this year’s high of 1.3 million tons in the week of April 8. After China's SRB issued tenders to buy 300,000 tons of primary aluminium in March, producers that won the tenders did not complete making deliveries until mid-June, reducing free market supplies. At the same time, many producers increased processing rate of their primary output while some producers in China’s...
Taking weak cues from global markets, aluminium prices fell 0.51% to INR 107.25 per kg in futures trading on Thursday as speculators offloaded their positions. Further, sluggish demand in India's domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in July declined by INR 0.55, or 0.51%, to INR 107.25 per kg in business turnover of 201 lots. Similarly, aluminium for delivery in August traded lower by INR 0.50, or 0.46%, to INR 108.70 per kg in seven lots. Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange and subdued spot demand.
Alcoa stock took a dive Wednesday after JPMorgan downgraded the barometer for market sentiment and made deep cuts to earnings estimates. Shares of Alcoa, which kicks off the second-quarter earnings season on Monday, fell 1% to $7.72. JPMorgan lowered its rating to Neutral from Overweight and lowered its price target to $9, looking ahead to December 2014. Its previous target was $12 through the end of 2013. “While global demand growth for aluminum continues to be solid, supply growth is outpacing it, which should continue to put pressures on prices. … outside of aluminum prices materially increasing or investor sentiment on the sector significantly improving, we see few catalysts for Alcoa’s stock in the near term.” JPMorgan slashed its estimate for second-quarter earnings to 4 cents per...
Malaysian Rating Corporation Bhd (MARC) has downgraded its rating on Press Metal Bhd's outstanding RM317.5mil loan stocks with warrants from A- to BBB. The ratings agency said on Wednesday the rating was placed on MARCWatch Negative pending greater clarity on the credit impact from the unexpected shutdown of Press Metal's aluminium smelting plant in Mukah, Sarawak, due to damage from the June 27 power outage. MARC said the rating downgrade on Press Metal's redeemable convertible secured loan stocks (RCSLS) with detachable warrants was based on company's weakened business and financial profile. It said this was mainly due to the recent sharp decline in aluminium price and impact of debt-financed expansion on its leverage in connection with its RM1.8bil aluminium smelting plant in Samalaju,...
SmarTrend identified a downtrend for Aluminum of China on 11 June, 2013 at $9.10. In approximately 3 weeks, Aluminum of China has returned 19.12% as of Wednesday’s recent price of $7.36. Aluminum of China share prices have moved between a 52-week high of $13.29 and a 52-week low of $7.25 and are now trading 2% above that low price at $7.37 per share. The 200-day and 50-day moving averages have moved 0.32% lower and 0.91% lower over the past week, respectively. Aluminum Corporation of China Limited is a producer of alumina and primary aluminum in China. The Company refines bauxite into alumina and smelts alumina to produce primary aluminum. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Aluminum...
AusGroup Limited subsidiary AGC Industries Pty Ltd a leading Australia based fabrication, construction and integrated services company to the oil and gas and resources sectors, has announced they have been awarded a three year plus three month extension on their calciner overhaul and maintenance contract with Alcoa of Australia Limited (Alcoa). The estimated value of this extension is AU$36 million over the period. The highly specialised work will be conducted for Alcoa's Western Australian calciners located at Kwinana, Pinjarra and Wagerup refineries. The initial scope of work covers calciner overhaul maintenance services including refractory, access, and mechanical trade work as well as general calciner repair work. Originally providing niche refractory services to Alcoa since 2007, AGC...
Rusal has contracted Brady Corporation, the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets, to manage its hedging book and risk management requirements for its aluminium sales. Rusal's requirement was to source a solution that could manage all of the risk resulting from its aluminium sales and provide its regional risk managers with a complete picture of its risk exposure and financial position in one place. On the new contract Brady chief executive Gavin Lavelle said,"Winning Rusal is an endorsement of our strategy to provide a specialist solution to the metals sector. We are delighted that Rusal recognizes this unprecedented market experience in the metals team at Brady and we are looking forward to assisting...
Expectations have dropped for Alcoa’s second quarter results in the month leading up to the company’s earnings announcement slated for Monday, July 8, 2013. The consensus analyst estimate has dropped from 12 cents a share to the current estimate of earnings of nine cents a share. Over the past three months, the consensus estimate has fallen from 17 cents. For the fiscal year, analysts are projecting earnings of 44 cents per share. For the year, revenue is expected to come in at $23 billion. Over the last four quarters, revenue has fallen an average of 6% year-over-year. The biggest drop came in the second quarter, when revenue fell 9% from the year-earlier quarter. Other competitors in the basic materials sector include: Aluminum Corp. of China Limited (ADR (ACH)), Kaiser Aluminum (KALU),...
