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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India’s state-controlled National Aluminium Co Ltd (NALCO) has sold 6,000 tons of aluminium ingots at $226 per ton premium to the average LME cash price on a cost, insurance and freight (CIF) basis, company officials said on Thursday. The metal will be shipped to a South Korean buyer in six batches of 1,000 tons each from July to December, the officials who did not wish to be identified told Reuters. NALCO, whose tenders serve as a global benchmark, last sold 10,000 tons of aluminium ingots at $203 per ton premium over the average LME cash price on a CIF basis to a Switzerland-based buyer in February.
Japan’s term aluminium premiums for shipments between July and September were mostly set around $250 per ton, compared with $248 to $250 in the previous quarter, four sources directly involved in the talks said on Friday. Japan is Asia’s biggest importer of aluminium and the premiums for its imports, agreed each quarter, set the benchmark for the region. The moderate increase reflects a perception among suppliers that conditions have improved in Japan under Prime Minister Shinzo Abe’s $1.4-trillion stimulus program, but the final premium was down from initial requests for an increase to $252-$254 from producers. Buyers were pushing hard to keep the premium in line with the April to June quarter as they do not believe that so-called Abenomics has stoked demand, sources said. “Producers...
In a report published on Wednesday, Bank of America analyst Timna Tanners downgraded Century Aluminum from Neutral to Underperform while maintaining a price target of $9 on the company. In the report, Bank of America stated, "We downgrade aluminum producer CENX to Underperform from Neutral as our newly lowered 2013E LME price of $0.87/lb vs $0.93 (Metals Strategist, 19 June 2013) offsets an eventual benefit from its recently negotiated lower power costs...In addition, sentiment toward added aluminum capacity globally has soured." Century Aluminum closed on Tuesday at $10.06.
A Dudley business specialising in heat treatment of aluminium alloys has just secured its first order to South Korea. The assignment is part of a string of several export orders won by Alloy Heat Treatment within the past six months. AHT has been going for 40 years and has been at the Grazebrook Industrial Park in Peartree Lane for more than a quarter of a century. Heat Treatment is traditionally considered to be a domestic service, with firms deterred from shipping components long distances to be treated at the final stage of the production process, but the specialised work of AHT has seen interest and orders secured from new customers in France, Germany, Italy, Poland and South Korea so far in 2013. The company has made its name as the largest sub-contractor for aluminium heat...
On 4 June Emirates Aluminium (EMAL) celebrated the installation of the final steel structure for the potline of its Phase II expansion. With the final one of 120 specially designed steel structures provided by Emirates Steel now in place, it means that all the major civil and mechanical work on the world's longest single potline of 1.7km is now complete and EMAL remains on target to deliver its ambitious expansion plans. Commenting on the latest milestone in the history of EMAL, President and CEO, Saeed Fadhel Al Mazrooei, said: “Made in the UAE, but recognised around the world' is something we are very proud of at EMAL. Working together with Emirates Steel is the epitome of the skill and unity that exists within our nation. It is this togetherness which will provide a strong economic...
Makers of products such as cans and packaging foils face record high aluminium surcharges in the U.S. Midwest as more of the metal gets sucked into backlogged warehouses in Detroit that are registered by the London Metal Exchange (LME). According to data from the exchange, stocks in Detroit have risen by 183,000 tons in the last three days to total 1.477 million tons, their highest since December 2012. The leap has pushed global LME stocks to a record 5.414 million tons. While aluminium supplies are plentiful on paper, two separate sources told Reuters surcharges or 'premiums' paid over the LME cash price to cover physical delivery costs are at a record of around 12 cents per lb in the U.S. Midwest. This is because the lion's share of spare metal supplies have been sucked into LME...
Alcoa’s stock had its “hold” rating reiterated by TheStreet in a research note issued on Wednesday, Stock Ratings Network.com reports. The analysts wrote, “Alcoa (AA) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and generally higher debt management risk.” A number of other analysts have also recently weighed in on AA. Analysts at Citigroup cut their price target on shares of Alcoa to $9.00 in a research note to investors on Monday, April 15th. Separately,...
Alba will be the platinum sponsor of the 2013 United Nations Public Services Forum, Day and Awards Ceremony (UNPSD2013) taking place in Bahrain from June 24 - 27, 2013. Bahrain becomes the fourth country in the world and first in the Middle East to host and organise this event outside the UN premises in New York. More than 700 delegates from over 90 countries are expected to attend the forum. Aluminium Bahrain B.S.C. ( Alba )’s decision to be a platinum sponsor of the event underlines the company’s commitment to support global initiatives being formed to strengthen best practices in public service. Organised under the patronage of His Majesty the King of Bahrain, King Hamad bin Isa Al Khalifa, the event will focus on the theme: Transformative e-Government and Innovation: Creating a Better...
Ampco-Pittsburgh Corporation, a leading producer of forged and cast rolling mill rolls for the worldwide steel and aluminum industries, announced the declaration of a regular quarterly dividend of eighteen cents ($.18) per share on the common stock of the Corporation. The dividend will be paid on July 31, 2013 to shareholders of record on July 15, 2013. Ampco-Pittsburgh Corporation is also a producer of air and liquid processing equipment.
Aluminium prices, which have risen on aggressive short-covering in recent weeks, are well above fair value and a correction lower is likely, Barclays Capital said. Producer selling and poor fundamentals will be the drivers of this price correction of around 10 percent from current levels, the broker said in a report on Friday 7 June. Three-month aluminium peaked on the LME on Wednesday at $1,981 per tonne, its highest since March 15. Prices have since retreated – they were last at $1,954 – but remain comfortably above the May 3 low of $1,809. “The predominantly CTA-driven short covering rally seen across the base metals this week has naturally fired the debate over which members of the complex are now attractive for shorting,” BarCap said. Although copper and zinc also benefited from the...
Alcoa has announced completion of the second-phase expansion of aluminium/lithium alloy capacity at its Kitts Green facility, in the UK, to better serve the growing demand for the company’s third-generation aluminium/lithium alloys. The company on Tuesday said it expected aluminium/lithium revenues to quadruple over the next six years to nearly $200-million. The Kitts Green expansion is the second phase of a three-part expansion program to satisfy customer demand for advanced aerospace products and patented alloys, which allows airframers to build more fuel efficient and lower-cost aeroplanes when compared with composite alternatives. Alcoa upgraded and expanded the casting capacity at the Kitts Green plant and also expanded capacity at its technology centre at Alcoa Centre, in...
The company is selling its stakes in the following businesses: Chalco Henan Aluminium Fabrication in Luoyang (86.84%); Chalco Southwest Aluminium Sheet/Strip Co of Chongqing (60%); Chalco Southwest Aluminium Cold Rolling Co of Chongqing (100%); Huaxi Aluminium Co in Chendu (56.86%); Chalco Ruimin Co of Fuzhou (93.47%); Chalco Qingdao Light Metal Co of Qingdao (100%); Sapa Chalco Aluminium Products of Chongqing (50%); and a 40% share in the Chalco Aluminium Co in Guizhou. The move will decrease Chalco’s assets by RMB15 billion and will take the company out of the fabricating business, allowing it to concentrate solely on upstream alumina refining and aluminium smelting. Chalco's parent, Chinalco, is likely to buy Chalco's equity shares in the above-mentioned businesses. In 2012, Chalco...
Aluminium futures prices fell by 0.23% to INR 107.55 per kg on Wednesday as speculators trimmed positions amid a weak trend in metal at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in July fell by INR 0.25, or 0.23%, to INR107.55 per kg, with a business turnover of 17 lots. Aluminium for delivery in July fell by INR 0.10, or 0.09%, to trade at INR 106.40 per kg in a turnover of 433 lots. Globally, aluminium traded a shade lower at $1,840.50 a tonne at the London Metal Exchange (LME). Marketmen said besides weakness in metal at the LME as investors waited for the outcome of Federal Reserve's meeting tonight, subdued industrial demand at domestic spot markets also put pressure on aluminium prices at futures trade here.
It is said that the tough will only get tougher when the road is rough and Alcoa Inc., the leading aluminum producer in the world, is flexing its muscles every single day. The massive aluminum glut and dropping aluminum prices are the two demons that the company has been waging a war with for some time now and its performance has taken a hit. The company’s first quarter results were a ray of sunshine and analysts did sit up and take notice. The root of Alcoa’s woes lies in the current overcapacity in aluminum markets. Barclays has said that 2013 will be the 9th consecutive year in which supply will exceed the demand. This year, analysts have projected a surplus capacity of over 1M tons. This excess will be from China as its production is set to increase by 10% or 2.2M tons in the current...
LME aluminum inventories surged 69,000 mt to 5.35 million mt last night, a new record high. Mounting inventories fuelled concerns over tepid demand. Investors pulled out of the market ahead of the result of US Federal Reserve policy meeting, causing LME aluminum positions to tumble 22,439 lots to 742,606 lots. LME aluminum found its low at USD 1,832/mt during the European trading session, but recouped some losses at the tail of the session before finally closing down 0.50% at USD 1,841/mt, down for eight days in a row. Aluminum prices will remain low due to worries over growing supply, with LME aluminum meeting resistance at USD 1,850/mt and moving within USD 1,820-1,850/mt on Wednesday. SHFE 1310 aluminum contract is expected to open lower at RMB 14,500/mt, with prices between RMB...
Aluminium Bahrain B.S.C. (Alba) took steps in ensuring the wellbeing of Bahrain's elderly by extending financial support worth BD5,000 ($13,260) towards Dar Al Manar Parents Care Center. The Chairman of Alba’s Board of Directors, Mahmood Hashim Al Kooheji presented the cheque on Alba’s behalf to the Chairman of Dar Al Manar's Board of Trustees, Shaikh Daij bin Khalifa Al Khalifa. Also present at the meeting was Alba’s Senior Manager for Human Resources & Public Relations, Abdul Rahman Janahi as well as officials from Dar Al-Manar. Commenting on Alba’s support to Dar Al Manar Centre, the Chairman of Alba’s Board of Directors, Mahmood Hashim Al Kooheji, said, “Alba values the tremendous legacy left behind by our elders and deeply value their contribution to life in Bahrain. Whatever we are...
Rio Tinto’s endeavors to keep open one of its French smelters raises questions not just about the viability of this particular plant but aluminum smelting in Europe in general. The smelter in question, according to Reuters, serves as the largest aluminum plant in the European Union with 2012 production of 286,600 metric tons. Positioned on the coast near Dunkirk in northern France, the plant uses the most electricity across any other entity in the country. It consumes 485 megawatts per hour, or half the output of one nuclear reactor at the nearby Gravelines site. The problem for Rio involves the 25-year contract with the French utility EDF which expires at the end of 2016. At which point its electricity bill – said to be 23% of production costs – could rise as much as 80% from 2017, as...
Century Aluminum Company’s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report released on Monday, AnalystRatingsNetwork.com reports. Other equities research analysts have also recently issued reports about the stock. Analysts at The Street upgraded shares of Century Aluminum Company from a “sell” rating to a “hold” rating in a research note to investors on Tuesday, May 7th. Separately, analysts at Cowen and Company upgraded shares of Century Aluminum Company from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, April 30th. They now have a $13.00 price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Century Aluminum Company from $7.00 to $6.00 in a research note to...
