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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Russia’s aluminium monopoly Rusal, with its hidden Kremlin shareholders, has slipped below the worthlessness level on the Hong Kong Exchange – that is, its market cap is now less than the value of the 28% shareholding it owns in Russia’s largest mining company, Norilsk Nickel. The aluminium assets no longer support the market valuation; the aluminium operations would be loss-making if not for payment of Norilsk Nickel dividends, which are in turn being inflated above the profit line by borrowing from Russia’s state banks. Rusal’s share price collapsed through the four-dollar threshold on Monday, as the release of results at Friday’s Annual General Meeting (AGM) of Rusal shareholders revealed that the company is planning to use its shrinking cash reserves to try to prop up its share price....
Companies such as Iralco, Almahdi and Hormuzal produced 59,253 tons of aluminum ingots, indicating a three-percent rise compared to the corresponding figure of last year. They produced 57,582 tons of aluminum ingots during March 21-May 21, 2012. Also, production of alumina powder reached 41,903 tons during the same period. The weight and value of aluminum ingots reached 26,893 tons and 1.8 trillion rials respectively during March 21-May 21, showing a 118-percent rise in weight and 218-percent growth in value year-on-year. The weight and value of aluminum ingots stood at 12,348 tons and 574.7 billion rials respectively during March 21-May 21, 2012. Deputy Minister of Industries, Mines and Trade Vajihollah Jafari said earlier that Iran's aluminum output would hit 1.5 million tons by the end...
State-owned aluminium maker Nalco has commissioned a part of its INR 283 crore wind power project in Rajasthan, taking its total green energy capacity to 65 MW. “The company has set up its second wind power plant at Ludarva in Jaisalmer, Rajasthan, with a capacity of 47.6 MW. A part of the project has been commissioned. Power production has commenced from 18 wind energy generators,” an official statement said. The INR 283 crore project is being executed by Gamesa Wind Turbines and involves erection of 56 wind turbines, of 850 KW each. As part of diversification plan, Nalco has been foraying into other metals and energy sectors. It had commissioned its first wind power plant of 50.4 MW capacity at a cost of INR 274 crore in Kadapa district of Andhra Pradesh last year. The Rajasthan...
LME aluminum inventories surged 59,600 mt to 5.28 million mt, a new record high. Spot aluminum inventories in China stopped falling following the Chinese Dragon Boat Festival, now holding stable at 1 million mt. Growing oversupply pressure sent LME aluminum below USD 1,850/mt to USD 1,833/mt during the European trading session, the lowest in a month. However, LME aluminum recouped some of earlier losses as New York Fed manufacturing index in June rose more than expected to 7.84, and finally ended down 0.60% at USD 1,850.3/mt, down for seven days in a row. Positions fell 4,380 lots to 765,045 lots. Growing oversupply pressure will drag the light metal down, with LME aluminum stagnant at USD 1,850/mt and moving within USD 1,830-1,870/mt on Tuesday. SHFE 1309 aluminum contract is expected to...
The Montenegrin government filed a court motion on Friday to consider bankruptcy for the country’s single biggest industrial employer, indebted aluminium plant KAP, which faces having its electricity cut off over unpaid bills. Kombinat Aluminijuma Podgorica employs 1,200 people and accounted for 4.7 percent of the tiny Adriatic republic's economic output last year. But the debt of the company, which is jointly owned by the state and the Central European Aluminium Company of Russian billionaire Oleg Deripaska, amounts to some 350 million euros ($467 million), equivalent to one tenth of GDP. It soaks up 3 million euros of state subsidies every month and lost 16.2 million euros in the first quarter of the year. The motion, initiated by the finance ministry, foresees bankruptcy management...
The London Metal Exchange has approved Kaohsiung, Taiwan as a good delivery point for primary aluminium, aluminium alloy, copper, lead, nickel, tin and zinc. This will be the LME’s ninth location in Asia. “It is important that the LME’s network of good delivery points are located in the correct regions to meet the demands of the metals industry”, said Rob Hall, Head of Physical Operations at the LME. “With Asia being the fastest growing industrial region in the world, and a significant net consumer of LME metals, the listing of Kaohsiung is an important step in ensuring these demands continue to be met.” The excellent logistical facilities at Kaohsiung ensure that the surrounding region, which also has a high demand for metal, can be well serviced by warehouses operating there. The...
Alba’s Chief Executive Officer, Tim Murray announced that Amin Sultan has been appointed as the company’s new Power Station Director with immediate effect. Mr. Sultan’s responsibilities will include overseeing power maintenance and projects along with power operations and utilities at Alba’s dedicated power plant that boasts a total power generating capacity of 2,265 MW. He will be reporting directly to the Chief Executive Officer. Prior to joining Alba , Mr. Sultan worked with the Japanese control company Yokogawa and in 1997 joined Alba as an engineer in the power station. He was promoted to superintendent in 2004, and from 2008 he served initially as manager and later as senior manager in power maintenance and projects. Commenting on the appointment of the new Power Station Director,...
Himadri Chemicals & Industries (HCIL), India’s largest producer of coal tar pitch, will invest INR 350 crore to meet higher demand arising out of new capacity additions in the aluminium sector and the graphite industry, its main user industries. The company’s main product line, coal tar pitch (CTP) is a critical input in aluminium smelters, demand for which is slated to nearly double at 4.5 lakh ton per annum (ltpa) with Balco and Vedanta Aluminium ramping up capacity and new capacities being put up by Hindalco’s Utkal Alumina and Mahan Aluminium project. “We anticipate growing demand due to new capacities coming up in aluminium industry. We are thus investing in raising capacity from 2.5 to 4 ltpa at our main plant at Singur,” Anurag Choudhary, CEO of HCIL said. Apart from Singur, the...
Hydro has signed an agreement with Rio Tinto Alcan to acquire its 50 percent ownership share in the Vigeland Metal Refinery AS and 100 percent ownership share in the AS Vigelands Brug hydropower station, located in southern Norway. Hydro held a 50-percent ownership share in Vigeland Metal Refinery AS prior to the transaction, and was the sole off-taker of its production of high-purity aluminium. High purity aluminium is a vital part in semiconductors and several electronic applications such as LCD screens for TVs, computers, cell phones and tablets. “The metal refinery fits very well into the company’s value added product strategy”, said Executive Vice President and Head of Primary Metal, Hilde Merete Aasheim. Executive Vice President and Head of Energy and Corporate Business Development,...
The US Labor Market announced last Friday that the country’s PPI grew 0.5% MoM in May, markedly up from the estimate. However, industrial output in the same month was unexpectedly flat with April and missed forecasts. The University of Michigan Consumer Sentiment preliminary index fell sharply to 82.7. Mixed economic figures added to uncertainty over the US economic recovery. Investors are cautious ahead of the US Federal Reserve’s policy meeting during June 18-19. As a consequence, LME aluminum fell during the European trading session last Friday to hover near USD 1,860/mt, and finally ended up 0.08% at USD 1,861.5/mt, underperforming other base metals. LME aluminum inventories increased 13,475 mt to 5,219,825 mt, and positions were also up 4,470 lots to 769,425 lots. The light metal...
China Customs data show that China exported 16,908.6 mt of anhydrous aluminum fluoride in April, up 49.2% YoY. YTD exports through April hit 53,988.3 mt, also a gain of 30.3% YoY. The average export price, however, fell. SMM confirmed that the average export price of anhydrous aluminum fluoride in April slid 32.0% YoY to USD 1,207/mt. SMM attributes the decline in export prices to falling LME aluminum prices and domestic aluminum fluoride prices. LME three-month aluminum prices have now fallen to USD 1,850/mt, down 11.9% from last June’s USD 2,100/mt. Domestic aluminum fluoride prices also slipped from last June’s RMB 8,600/mt to current RMB 7,000/mt, a decrease of 18.6%. Aluminum smelters, major consumers of anhydrous aluminum fluoride, have been pushing for lower input costs against...
Two aluminum buyers in Japan, Asia’s biggest importer, agreed to keep fees paid to producers steady in the third quarter, according to three executives with direct knowledge of the negotiations. The premium will be $249 a metric ton over the price of aluminum for immediate delivery on the London Metal Exchange, compared with $248 to $250 this quarter, the executives said. They asked not to be identified because the talks are private. The premium more than doubled last year.
ESKOM has invoked its right to disrupt the power supply to BHP Billiton’s aluminium smelters in the case of an emergency as demand by households showed signs it will exceed the state-owned utility’s capacity to generate enough power this winter. The demand forecast for the remainder of this week showed South Africa was on the brink of plunging into blackouts similar to those experienced in 2008. Delays in commissioning the Medupi power plant and maintenance of Eskom’s existing power-generating facilities are largely responsible for reducing the utility’s spare capacity. In the event of an emergency, Eskom intends to exercise its option to redirect over 2,000MW of power from the Hozatel smelter in KwaZulu-Natal and the Mozal smelter in Mozambique to the grid, as part of a supply agreement...
French utility EDF could take a stake of up to 40 percent in Rio Tinto's Saint-Jean-de-Maurienne aluminum plants in exchange for agreeing a discount on the electricity it supplies, financial daily Les Echos reported. Rio Tinto is negotiating with Germany's Trimet Aluminium AG over a sale of the 148,812 ton Saint-Jean-de-Maurienne plant in the French Alps. A key element in the deal will be the price at which the new owner can buy electricity from EDF, as power makes up 20 to 40 percent of the production cost of aluminium. Les Echos said that under the terms of a multi-decade contract with EDF expiring in March 2014 the plant bought power at 17 to 20 euros per megawatt-hour. The paper said EDF has proposed a new tariff of 25 to 30 euros per MWh, compared to current market rates of around...
Century Aluminum of Kentucky joined Big Rivers Electric Corp. and Kenergy Corp. June 12 to announce the parties had filed definitive agreements with the Kentucky Public Service Commission based on the tentative agreement they all reached in April. The agreements from the parties are the first step in finalizing the tentative agreement among them, but it still is subject to approvals from several third parties: the Kentucky PSC, the USDA Rural Utilities Service and other regulatory agencies. Century's current power contract expires Aug. 20. The parties announced April 29 they had reached in agreement for Century to receive market-priced power for its Hawesville, Ky. smelter in Hancock County. Century issued a conditional closure notice at that plant earlier in the year, claiming it...
Authorities in Bosnia sought to avert the closure of the country's top exporter, aluminium smelter Aluminij Mostar, on Thursday with a deal to settle its ownership structure and redundancy issues. Officials said the agreement could be inked on Monday, although negotiations appeared to be ongoing. The smelter in the southern town of Mostar announced last week it would begin shutting down due to high power costs and low metal prices, leading to thousands of job losses and dealing a blow to Bosnia's moribund economy. Aluminij is the mainstay of Bosnia's metals sector, which accounts for more than half of national output. Under the deal, the government of Bosnia's autonomous Muslim-Croat Federation and Aluminij's small shareholders will each take a 44-percent stake in the plant. The remainder...
Chinese investors returned to the market from the three-day holiday yesterday, but downbeat economic figures ignited concerns over economic growth. Asian shares suffered losses, but dip-buying did help commodity prices fall at a slower pace. Greece’s unemployment rate in Q1 hit a new record high at 27.4%. On the other hand, US initial jobless claims last week dropped to 334,000 and retail sales in May rose 0.6% MoM, both beating forecasts. Positive US economic data pushed US shares up, but also sparked worries over the possible exit of QE3. LME aluminum inched down, with resistance at USD 1,870/mt and support at USD 1,850/mt. Investors are cautious ahead of the US Federal Reserve’s new round of policy meeting due early next week. In this context, LME aluminum closed down 0.59% at USD...
Aluminium prices edged up by 0.42 per cent to INR 107 per kg in futures trade on Thursday 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 June went up by INR 0.45, or 0.42 per cent, to INR107 per kg in business turnover of 392 lots. Likewise, the metal for delivery in July traded higher marginally by INR 0.40, or 0.37 per cent, to INR 108.30 per kg in 42 lots. Marketmen said apart from increased domestic demand, a firming global trend helped aluminium futures to trade higher.
