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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Aditya Birla Group flagship Hindalco Industries has named Satish Pai as the next chief executive officer of its aluminium business in India, a senior company executive told ET. Pai, 51, executive vice-president at American oil field services major Schlumberger, will take up his new assignment from August 1, the executive said, adding that he will also be inducted on to the boards of Hindalco and its unit Novelis. “We have chosen Satish Pai for his ability to sustain in one company for a very long time and HIS global experience,” said Santrupt Misra, head of HR at Aditya Birla Group, a telecoms-to-cement conglomerate that owns Hindalco. “He has handled different functions in different parts of the world. This experience will come handy, as issues that are impacting are global. Our...
The Compliance Advisor Ombudsman (CAO) has found “shortcomings” in the International Finance Corporation's (IFC) management of a Mozambique aluminium smelter project between November 2010 and April 2011. In an April audit report, it criticised the IFC’s failure to ensure adequate monitoring by its partner, Mozal, which would have enabled “appropriate advance consultation with affected communities”. The IFC acknowledged the importance of the issues raised by the audit but asserted in the report that “staff took reasonable timely action consistent with its policies and procedures”.
National Aluminium Company (Nalco) has cut aluminium prices by around INR 4,000 per tonne for the month of July in line with London Metal Exchange (LME) prices to be effective from July 1. Other aluminium producers such as Hindalco and Balco usually follow the price trend set by the state-owned Nalco. While aluminium firms will witness pressure on margins due to softening of the white metal prices, auto manufacturers, real estate developers, aircraft manufacturers will witness improvement in their margins with their input costs going down, experts said. “We have reduced aluminium prices in line with LME prices. Although demand is there but aluminium is getting imported at a lower cost so we had to reduce the price,” a senior Nalco official told FC. In June, the company had increased...
Worries over liquidity crunch in China eased last Friday, which was the last trading day of the first half of the year. US economic data released last Friday night was mixed. Chicago reported that its PMI for June fell to 51.6, the biggest monthly decline in more than four years. On the other hand, the University of Michigan Consumer Sentiment Index was revised up to 84.1 in the final reading for June. The US dollar index was firm at 83 as a result, keeping commodity price in check. LME aluminum tested support at USD 1,770/mt, and found its high at USD 1,797/mt, but later gave back gains due to sell-off at highs. LME aluminum fell to near the 5-day moving average at the tail of the session, and finally closed up USD 2.8/mt or 0.16% at USD 1,775/mt. LME aluminum inventories were off 6,875...
The Montenegrin government said it has adopted a bill revising the country’s 2013 budget to cover 61 million euro ($79.5 million) in unpaid power bills of local aluminium smelter the Kombinat Aluminijuma Podgorica (KAP) aluminium smelter to Elektropirvreda Crne Gore (EPCG) electro power producer and retailer. The budget revision foresees additional government borrowing of 102 million euro for guarantees for KAP, Montenegrin finance minister Radoje Zugic said in a statement following a cabinet session on Thursday. The budget bill is now pending approval in parliament. KAP’s net loss widened to 16.2 million euro in the first quarter of 2013 from 6.9 million euro a year earlier. Montenegro’s budget deficit narrowed to 71.9 million euro in the first four months of 2013 from 84.7 million euro...
Alcoa is set to report second quarter earnings on July 8. Its second quarter earnings report follows some speculation in the market regarding aluminum prices and global industry demand. Analysts’ have a second quarter consensus estimate of $0.10 per share, $0.04 above the previous year’s second quarter report, indicating steady state growth occurring for the company. Alcoa’s first quarter earnings were on track coming in at $0.11 per share on target with analysts’ consensus estimate. First quarter top line revenue was down 1.7 percent in the first quarter from $5.9 billion to $5.8 billion. Net income was up 89 percent from the previous quarter at $121 million from $64 million, resulting in the earnings of $0.11 per share. While the first quarter report was positive for Alcoa some...
US-based aluminium major Alcoa on Friday announced it would permanently close its Fusina primary aluminium smelter, in Venice, Italy, where production had been curtailed since June 2010. The company said the planned closure would reduce its global smelting capacity of 4.2-million metric tons a year, by 44 000 t. The intended closure was in addition to the 460 000 t of operating smelting capacity that Alcoa in May announced was under review. “The underlying conditions that led Alcoa to curtail the Fusina smelter in 2010 have not fundamentally changed. Global aluminium prices remain weak and we must take action to maintain Alcoa’s competitiveness,” Alcoa global primary products president Bob Wilt said. Alcoa said it would work with affected communities to explore ways to redevelop the...
Alro Slatina has to pay this year 70 million US dollars in co-generation and green certificate fees, an amount that could be used to make two industrial companies, Chairman of the Administration Board of Alro Slatina aluminium maker Marian Nastase recently told Agerpres. “This is a burdening fee because we have to pay this year 23 million US dollars in cogeneration fees, plus 47 million US dollars in green certificate fees before the approval of the emergency ordinance concerning the establishment of a system for the promotion of energy from renewable sources. This makes 70 million US dollars, a huge amount that could be used to create two industrial factories,” said Nastase. He added that without the two fees, Alro would have no trouble. “We do not have the money to pay. Since we do not...
Calcined petroleum coke, a key raw material commodity in aluminum production, is at the center of a storm. The plans of many aluminum manufacturers and those in its ancillary aluminum manufacturing businesses are going awry because of the aluminum oversupply in the global market. One among those manufacturers is the India-based Rain Commodities Ltd. (RCOL), the world’s second-largest producer of calcined petroleum coke used to make aluminum. A few days ago, the company’s chief financial officer T. Srinivasa Rao told Bloomberg that his outfit would, in all probability, not be able to meet its stated goal of doubling net income by the end of 2013. Which means RCOL will miss its own profit forecast. Chalk that up to the slide in aluminum prices and, of course, the oversupply of the metal,...
Initial jobless claims in the US in the week ending June 22 fell to 346,000. Personal income in the US rose 0.5% in May, and personal spending also grew 0.3%. Pending sales of existing home jumped 6.7% in May, the highest since December 2006. These data signal sustained recovery in the US economy. On the other hand, investors are still worried about the possible scaling back of US debt-buying program and liquidity crunch in China. LME aluminum fell during the European session as longs and shorts exited the market at the month’s end, and finally closed down USD 0.8/mt or 0.04%% at USD 1,772.3/mt. LME aluminum inventories decreased 5,525 mt to 5,442,475 mt, and positions decreased 6,257 lots to 747,277 lots. Most investors will pull out of the market on the last trading day of the end of...
The London Metal Exchange (LME) is looking at new ways to solve problems in its controversial metals warehousing system as frustration builds among the exchange’s industrial users over supply bottlenecks, metals industry sources said. One option put forward for consideration is scrapping the minimum tonnage delivery out rate in favour of a percentage of warehouse inventories, industry sources say. Firms running warehouses registered by the LME, the world's biggest industrial metals marketplace, have been making money by building up big stocks and charging for storage while they deliver metal at a limited rate to holders of LME contracts. This has created tensions with consumers of the metals who say these storage plays have boosted prices for metal critical for their businesses. LME rules...
Arianne Phosphate Inc. appoints Brian Kenny as company's new CEO. Brian Kenny is a seasoned project development executive, having most recently overseen the development and completion of the 7B$ EMAL smelter project in Abu Dhabi and directed more than $10 billion in development projects in Saudi Arabia, Western Algeria, and Kazakhstan over 5 years with Dubai Aluminium Co Ltd. As Project Director, Brian managed all technical, legal, financial and environmental aspects of the projects. He also arranged project finance, negotiated project agreements, and coordinated with host country government ministries and local agencies. Prior to his experience with Dubal, Brian directed the design, development, construction, startup and operation of the $4 billion Koniambo nickel project over a 3-year...
MCX Aluminum dropped on Tuesday amid range bound movements seen in international markets. MCX Aluminum June contract is trading at INR 103.55, down 0.19% on Tuesday. It opened at INR 103.45 and touched a low of INR 103. LME Aluminium traded marginally lower on Tuesday after noting 1.2% decline Monday. Weighing on prices is record high stocks at LME warehouses coupled with supply glut. Stocks at LME rose by 6,375 tons yesterday hitting record high of 5.44 million tons after gaining by 2,14,125 tons last week. Commenting on the outlook, the broking firm Kotak Commodity Services said, "The downside may however be capped amid higher cancel warrants and news of supply cuts and lower production. As per Aluminum International Aluminium Institute report, production averaged 126,700 metric tons a...
The US Commerce Department announced that the final reading of US 1Q GDP was revised down to 1.8% from the preliminary reading of a 2.4% growth, fuelling worries over growth in the world’s largest economy. Downbeat data, however, also raised doubt over whether the US Federal Reserve will wind down debt-buying program before the end of this year. On the other hand, building permits in the US in May was revised up to -2.0% from -3.1%, suggesting recovery in the country’s housing market and providing support to the scaling back of monetary stimulus. Short-term liquidity crunch in China is weighing on market sentiment. As a result, the US dollar index rose, leaving commodity prices remaining at low levels. LME aluminum hovered near USD 1,778/mt during the European session, with support at USD...
Shares of Hindalco Industries moved higher in choppy trade as sentiment turned bullish in the counter after its subsidiary Novelis hiked price of painted aluminium sheet products in Europe. According to reports, the fabrication price will increase by 100 euro per ton for painted products and selected specialty sheet. “This price adjustment reflects the prevailing strong demand for aluminium painted products combined with increasing production costs,” said Erwin Mayr, Senior Vice President, Novelis and President, Novelis Europe. Hindalco has been gaining momentum as globally, things are looking charged up and incrementally, things are looking rather positive for aluminium as a cycle. The revival in US housing market and demand from the US aviation industry is expected to increase aluminium...
Big Rivers Electric is looking to sell two of its western Kentucky coal-fired power plants, Coleman and D B Wilson, representing nearly 900 MW of generating capacity, and plans to idle both baseload facilities next winter if it has no buyers or long-term power purchase agreements in hand by then, a Big Rivers spokesman said Tuesday. With the impending loss of its two largest customers, aluminum smelters in Hawesville and Sebree owned by Century Aluminum, the Henderson, Kentucky-based generation and transmission co-op has no need for the output of the 444-MW Coleman plant and 443-MW D.B. Wilson plant to serve its predominantly rural load, Big Rivers spokesman Marty Littrel said. Earlier this month, Big Rivers asked the Public Service Commission to allow Century to bypass the co-op and buy...
South African power utility Eskom briefly cut supply to one of BHP Billiton’s aluminium smelters on Monday night after nation-wide demand outstripped supply, a company spokeswoman said on Tuesday. An agreement between state-run Eskom and BHP allow the utility to interrupt power to the latter's energy-intensive smelters if the national grid approaches a tipping point. “We did interrupt supply to one of the BHP Billiton units for a time, but still have emergency reserves available,” spokeswoman Hilary Joffe said. She also said Eskom ran gas turbines which it activates when supply is tight. Eskom said on Monday the power reserve margin for the evening was expected to be extremely tight at 29 megawatts, or just 0.08 percent of available power. The utility also has agreements with its other...
German company Outotec is in the process of constructing a EUR5.1 million state-of-the-art electrolyte processing line at UC Rusal’s BEMO smelter in Tayozhny in the Krasnoyarsk region of Russia. The equipment automates the process in which the electrolyte is crushed to the required fraction of any size, says Rusal, adding that the specified capacity of the line is 40 tonnes per hour. Modern suction systems provide complete dust control at all stages of the process. “We use only the most technologically advanced and energy-efficient solutions for the BEMO smelter construction,” commented Vladimir Polin, director of Rusal’s Aluminium Division East, said that Outotec’s electrolyte processing equipment is a benchmark in the industry and that the technology used is considered to be the most...
