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...
Grow with
AL Circle
Investors are cautious ahead of US Federal Reserve Chairman Bernanke’s testimony to the congress due today and preliminary manufacturing index from major economies for May due later this week. Despite the retreat of the US dollar index from 84 during European session, LME aluminum pulled back after hitting a high of USD 1,872.8/mt as longs exited the market. Finally, LME aluminum ended the day down 0.34% at USD 1,855.8/mt. Latest LME aluminum inventories decreased 5,475 mt to 5,225,650 mt. The light metal will move within tight price ranges as markets are wary prior to Bernanke’s testimony. LME aluminum should continue to test support at USD 1,850/mt and move within a USD 1,850-1,870/mt price range on Wednesday. SHFE 1308 aluminum contract is expected to open at RMB 14,580/mt, with prices...
Indonesia’s Possible Ban on Raw Ore Exports Will Pose Threat to China’s Aluminum Output. A source with Deutsche Bank claimed last Wednesday that China’s aluminum output may fall if the Indonesian government imposes a ban on unprocessed ore exports. Based on current aluminum prices , 35% of Chinese aluminum producers are suffering losses, Tim Reyes, President of Alcoa Materials Management, said last Wednesday. China’s Aluminum Capacity Cuts Will Do Little to Ease Global Aluminum Overcapacity According to the CRU last Tuesday, 1 million mt/yr in aluminum capacity in China has been temporarily closed so far this year. Another 300,000 mt/yr in aluminum capacity in east China may be cut if aluminum prices remain depressed. Ling Wong and Yanchen Wang, both senior consultants at CRU, understand...
Dubai Aluminium and Emirates Aluminium target growth in market share within the European market. Since its first forays into the region in 1996, DUBAL has developed long-term partnership relationships with customers that have driven consistent growth in the company's sales volumes into Europe, despite the 6% duty payable on alloyed aluminium. In 2012, almost 212,000 tonnes of DUBAL metal reached Europe's shores. A further 224,000 tonnes of metal produced by EMAL was also sold in Europe during 2012 (i.e. 436,000 tonnes in total from DUBAL and EMAL). Going forward, the DUBAL-EMAL Marketing and Sales team anticipates selling about 490,000 tonnes of primary aluminium into Europe during 2013. The EMAL product mix — comprising remelt aluminium and standard commodity ingot and sow, as well as...
Alcoa of Australia has filed full-year accounts and revealed that the company's profits of $106.2 million were down from $569 million. Sales fell by 12% and the company's return on capital was 3% – down from 9.47% at the end of 2011. Alcoa of Australia is 60% owned by Alcoa and 40% owned by Alumina Ltd, whose key strategy is to invest globally in bauxite mining, alumina refining and aluminium smelting. The latest figures underline the current problems facing the global aluminium industry with metal prices at an all-time low and stocks of aluminium in warehouses reaching up to 10Mt. Alcoa claims its Australian workforce has nothing to fear from the company's planned rationalisation efforts, but is asking its suppliers to accept a 12% discount as compensation for the depressed market...
Montenegro should shut down the loss-making aluminum plant that is the country's biggest single industrial employer to stem a sharp rise in its public debt, the International Monetary Fund said. The partly state-owned Kombinat Aluminijuma Podgorica (KAP) factory produced 120,000 metric tons of the metal last year, accounting for 4.7 percent of the tiny Balkan country's economic output. But its total debt of around 350 million euros ($449 million) is equivalent to one tenth of GDP, and it soaks up a further 3 million euros of state subsidies every month. "In the last three years, KAP was the major problem for the economy. There should be a clear plan to liquidate the factory," the IMF's Nadeem Ilahi told a news conference. Ilahi, the head of an IMF mission to Montenegro for the Fund's...
Alcoa announced today it is postponing construction of a new potline at its Baie-Comeau smelter in Québec as part of a revised modernization plan for the smelter, but will begin preparations for the upgrade by investing $100 million in the smelter over the next three years and by permanently closing the plant’s two Soderberg potlines. The new potline is now expected to be in service in 2019 instead of 2016, subject to board approval. The change is due to current market conditions. The $100 million investment includes $30 million that will be used to upgrade the plant’s casthouse facilities in support of the growing automotive market. This is in addition to the $75 million already dedicated to rebuild the port facilities to better meet the future needs of a modernized plant. “The...
Market sources in China have reported that China has temporarily halted 1 million metric tons a year of primary aluminum capacity so far this year. A further cut of 300000 tonnes capacity is expected in the country's east before year-end if metal prices remain low. However, this is unlikely to solve the global industry's overcapacity problems, specializing in the Chinese aluminum sector. China is currently producing at a rate of 24 million tons a year of aluminum on an installed capacity of 28 million tons. Aluminium inventories on LME are already at all time highs of 5225975 tonnes till May. The prices were earlier benefitted by the financing deals that were creating a shortage in spot markets for Aluminium. After the slowdown in spot demand, even the factor of forward deals is not...
Century Aluminum and Big Rivers Electric Corp. have reached a tentative agreement on the framework for providing market priced power to the 249Kty Hawesville smelter. Under the arrangement, the electric cooperatives would purchase power on the open market and pass it through to Century at the marketprice plus additional costs incurred by them. Meanwhile, Big Rivers Electric and Century Aluminum will also begin negotiations on a separate deal to allow Rio Tinto Alcan's 205Kty Sebree smelter, which Century is acquiring, to access less expensive market-priced power.
Russian aluminum producer United Co. Rusal PLC and Aluminum Corp. of China Ltd. ( Aluminum Corporation of China Limited), or Chalco, will decide in late June the outcome of a joint-venture accord to consider cooperation on four projects in the aluminum sector, Rusal's deputy chief executive, Oleg Mukhamedshin, said in an interview Wednesday. "It's likely that one or more of these projects would go ahead," Mr. Mukhamedshin told Dow Jones Newswires, during the CRU World Aluminium congress. "It's clear that the market doesn't need more metal (though the project) could substitute lossmaking installations in China, or elsewhere." The aluminum market is currently in a glut, with around 10 million metric tons of inventories worldwide, which need to be drawn down if prices--currently a third...
Further production cuts are likely at Europe's aluminum smelters as the industry struggles with high operating costs and low metal prices, Citi's director of metals research and strategy said Thursday. Around 28% of the European Union's aluminum smelters are losing money at current aluminum prices, David Wilson told CRU's World Aluminum Conference in London. "Smelters operating in the European Union have, on average, a 30-40% energy cost disadvantage to smelters operating in other areas," Mr. Wilson said. "At the same time, rigid labor markets create significant disadvantages for operating in Europe." Aluminum prices are also low, weighed by an overhang of metal held in exchange-registered warehouses as part of so-called financing deals, Mr. Wilson added. Financing deals in aluminum took...
The University of Michigan preliminary index of consumer sentiment rose to 83.7 in May, a six-year high. Meanwhile, the Conference Board Leading Economic Index for the US also increased 0.6% in April, a five-year high. These positive data helped send the US dollar index up to 84, weighing on commodity prices. LME aluminum edged up to USD 1,866.8/mt during European session, but met resistance at the 10-day moving average. Later, LME aluminum fell back, and finally ended Last Friday unchanged from the previous day at USD 1,855/mt. Latest LME aluminum inventories increased 7,575 mt to 5,238,500 mt. The light metal will move within narrow price ranges on a firm US dollar. LME aluminum should move within a USD 1,830-1,855/mt price range on Monday. SHFE 1308 aluminum contract is expected to...
Vedanta Resources today said its offer to buy out government stakes in Hindustan Zinc and Bharat Aluminium Company (Balco) for which it is awaiting the response will be "windfall" for all stakeholders. "We have no doubt that this (deal to acquire remaining stakes in the two firms) will happen but we need to have patience. India is a democratic country...," Vedanta chairman Anil Agarwal said in a conference call, while announcing the company's annual results. "I can not answer when it will happen but it (the deal) is going to have windfall for everybody," he added. The government, which currently holds 29.5 per cent stake in HZL and 49 per cent stake in Balco, is looking at exiting from the two firms in which majority stakes were sold to the mining giant between 2001 and 2003. However,...
The Indonesian government is ready to take full control of PT Indonesia Asahan Aluminium (Inalum) after Japanese consortium Nippon Asahan Aluminum’s 30-year contract to manage Inalum expires on Oct.30, an official says. “We no longer depend on Japan and are ready to continue developing PT Inalum as a state-owned enterprise company [BUMN] as of Nov.1,” Inalum’s director of general affairs and human resources Nasril Kamaruddin said on Saturday as quoted by Antara news agency. Since the 1990’s, he said, both the technology and operation management of the company - founded on Jan.6, 1976 - had been handled by local experts. “As you can see, the smelting factory and hydropower plant PLTA Asahan II have been used for 30 years but they still look new and can operate well,” said Nasril. “So,...
Alcoa will eliminate about 500 jobs by permanently closing two potlines this summer at its smelter in Baie-Comeau, Que., while also delaying construction of more efficient facilities at the smelter for three years. The company said Thursday that the job cuts will be made through retirements and attrition at the smelter, which currently has about 1,400 employees. One of the potlines had been expected to be shut down later this year and the second in 2015. Instead, they will both be closed by August. The closure will leave the smelter with two operating potlines — the long rows of high-voltage reduction pots where aluminum is smelted. The aluminum giant said the decision will remove 105,000 tonnes of annual capacity, leaving the facility with the capability of producing 282,000 tonnes of...
China, the world’s largest producer of aluminum, will have a “manageable” surplus of the metal for the next five years if companies cut back 4 million to 5 million metric tons of production, according to researcher CRU. China has cut output 1 million metric tons this year and will probably reduce it 2 million tons by 2015, with about 24 million tons produced this year, according to Marco Georgiou, an analyst at CRU in London. Aluminum fell 3.8 percent this year in China and 10 percent in London. “It will be manageable surpluses only if curtailments of around 4-5 million tons are implemented over the next five years,” Georgiou said by e-mail yesterday. “This is based on demand growth stabilizing in the high single digit level and that smelters continue to ramp up in the northwest.” Global...
US initial jobless claims jumped to 360,000 in the week ended May 11. The US posted a 1.1% growth in CPI in April, below expectations. These data helped reduce possibility of asset purchases cuts by the US Federal Reserve for the immediate term. As such, the US dollar index pulled back from high levels during the European trading session, helping commodity prices rebound. LME aluminum touched a high of USD 1,860/mt, but met resistance at the 5-day moving average as US housing starts dropped in April. Finally, LME aluminum ended the day up 0.50% at USD 1,854.8/mt. Latest LME aluminum inventories increased 4,950 mt to 5,230,925 mt. Weak economic data will keep the light metal in check. LME aluminum should meet resistance at USD 1,850/mt and move within a USD 1,830-1,855/mt price range on...
Alba officials can be seen here at the company’s exhibition stand at the CRU’s 18th World Aluminium Conference taking place in London from May 14 – 16, 2013 -- from left Acting Manager Sales & Marketing (GCC, ME and Africa), Amal A. Rahman Ahmed, Chief Executive, Tim Murray, Investor Relations Manager, Eline Hilal, Acting Chief Finance & Supply Officer, Ali Al Baqali and Manager Sales & Marketing (Europe and Americas), Boris Santosi Alba sponsors CRU's 18h World Aluminium Conference taking place at Guoman Hotel, London, UK from May 14 - 16, 2013 Alba hosted a Welcome Reception for all participating delegates on the opening day of the conference Alba 's exhibition stand provided a showcase for its wide range of high grade aluminium products. Aluminium Bahrain B.S.C. ( Alba )'s sponsorship...
Alcoa has delivered proof that even its low-cost WA bauxite and alumina operations are feeling the pinch of aluminium's persistent status as the world's most unpopular metal, reporting an 81 per cent slump in Australian profitability last year. Compounding the woes, Alcoa said its Australian operations returned just 3 per cent on invested capital in the year to December 31, which means the money would have generated a better return if placed in a bank term deposit. Alcoa of Australia, which filed the full-year accounts with the corporate regulator on behalf of its owners Alcoa of the US (60 per cent) and Melbourne-based Alumina (40 per cent), said its profit was $106.2 million, down from $569 million. Sales revenue for the year fell almost 12 per cent to $3.27 billion. Alcoa of...
