Southeast Asia’s largest integrated aluminium producer extended its record earnings run as higher aluminium prices, regional premiums and Middle East supply disruptions supported performance. Press Metal Aluminium Holdings Bhd has extended its record earnings streak into 2026, with the Southeast Asian aluminium producer posting a 51 per cent year-on-year increase in net profit to MYR 1.43 billion (USD 350.78 million) in 1HFY2026. The company had already delivered back-to-back record profits in FY2024 and FY2025, supported by higher aluminium prices, increased sales volumes and a more favourable cost environment. Its latest performance comes as the global aluminium market remains tight, with RHB Research expecting a deficit of around 900,000 to one million tonnes in 2026. Press Metal’s...
The ANZ World Commodity Price Index rose 0.6 per cent month on month and 1.0 per cent year on year, with prices increasing across most categories. The rise was largely driven by higher energy prices, while a weaker New Zealand dollar pushed the index in local-currency terms up 2.8 per cent. Oil surge lifts aluminium prices along with milk powder Aluminium benefited from supply disruption linked to the Middle East conflict. Prices rose 1.1 per cent during September and are around 23 per cent higher year on year, with production and exports in the region remaining disrupted. Dairy prices increased 1.0 per cent in September, led by skim milk powder. Prices for the product jumped 9.2 per cent month on month and are now 41.1 per cent higher than a year earlier. ANZ said milk powder prices are...
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The Rusal board on January 15 approved the terms for a settlement in the arbitration proceedings filed by Len Blavatnik and Viktor Vekselberg’s Sual Partners Ltd against Glencore International AG, En+ Group Limited, the company and Oleg Deripaska, Rusal said in a statement. Contracts signed between Rusal, the world’s largest aluminum maker, and trader Glencore angered Sual Partners, which owns 15.8% of Rusal shares. In 2012, Siberian Urals Aluminium Company (Sual) filed a lawsuit against them in the London Court of International Arbitration (the Arbitrations). The lawsuit concerns the supply of primary aluminum and alumina to Glencore which the Rusal board approved in 2011 contrary to Sual’s veto. In accordance with the settlement, the claims against Rusal have been amicably resolved and...
It's been 20 years since Consolidated Aluminum Corp. of Allendale did any business. Now the company wants to officially liquidate, saying that's the best way to deal with claims against it, including asbestos-injury cases and pension debt. The company, also known as Conalco, filed for Chapter 11 recently in federal Bankruptcy Court in Newark. Conalco said it had assets of between $500,000 and $1 million but owes between $50 million and $100 million to as many as 199 creditors. From 1948 until 1994, Conalco "was a major manufacturer and supplier of aluminum and aluminum products in the United States and internationally," the bankruptcy filing said. But it sold off almost all of its assets to Ormet Corp. and ceased operations in 1994. Now it operates mostly to manage its response to...
Aluar, the biggest aluminum producer of Argentina, said on Thursday that Pan American Energy, the oil company has agreed to continue supplying its Puerto Madryn smelter with natural gas. The two companies is said to negotiate a disagreement over prices. Aluar said, the agreement seems good for 90 days while talks on energy price continue. They said Pan American notified last week they would halt the natural gas supplies due to the price disagreement. The Puerto Madryn smelter has aluminum production capacity of 460,000 tonnes per year, according to its website. Pan American, 60% owned by BP, was not available for comment on Thursday.
Rio Tinto Alcan, a Canadian subsidiary of Rio Tinto, the global giant in the mining industry inaugurated Arvida aluminium smelter, the AP60 Technology Centre, worth $1.1-billion in Saguenay-Lac-St-Jean, Quebec. This new plant has a total installed capacity of 60 000 t of aluminium. In a press release, the company said it is the most technologically advanced aluminium smelter in the world. Jacynthe Côté, CEO of Rio Tinto Alcan said, "Rio Tinto Alcan is very proud to inaugurate the new Arvida aluminium smelter, AP60 Technology Centre. Today's milestone is the result of years of work by our research and development teams, particularly the teams that first conceived, developed and tested the AP60 technology at the Laboratoire de recherche des fabrications, in France," The AP60 technology...
Aluminium prices went up by 0.32 per cent to INR 108.15 per kg in futures trade today as participants enlarged their positions, supported by a firming trend overseas. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in January inched up by 35 paise, or 0.32 per cent, to INR 108.15 per kg in business turnover of 226 lots. The metal for delivery in February rose by a similar margin to INR 109.70 per kg in 13 lots. Marketmen said apart from increased domestic demand, a firming global trend helped aluminium futures to trade higher. Meanwhile, aluminium climbed 1.5 per cent to $1,981.50 tonne on the London Metal Exchange.
Aluminium Bahrain B.S.C. ( Alba ) is the platinum sponsor for one of Bahrain's most significant events - Bahrain International Air Show 2014 - to be held from January 16 - 18, 2014 at the Sakhir Airbase. Organised under the patronage of His Majesty King Hamad bin Isa Al Khalifa, Alba 's support for the Bahrain International Air Show 2014 highlights the company's confidence in Bahrain as a key hub for the global aviation industry. Alba will have access to a dedicated luxury hospitality chalet that will offer excellent opportunities for viewing state-of-the-art aircrafts on display and the air show as well as host meetings with present and potential clients. Commenting on Alba 's participation at the Bahrain International Air Show 2014, Chairman of Board of Directors, Mahmood Hashim Al...
The Saudi Mining Company (Ma’aden) today announced that it has concluded several contracts to supply Asian customers with over 300 KMT of primary aluminum throughout 2014, complementing the 50 KMT in supply agreements made with local and Turkey customers. “Today we announce that Ma’aden has arrived as a global primary Aluminium supplier,” said Ma’aden Aluminium Vice President Eng. Khalid Al Luhaidan. “Together, these supply agreements not only meet a significant portion of Asian demand, but they also represent an important milestone in our journey to becoming a world class minerals enterprise”. The 2014 supply contracts concluded by Ma’aden commit the company to deliver product to domestic buyers within Saudi Arabia; to regional buyers in Turkey; and to Asian buyers in Japan, Korea,...
Aluminum smelters in Germany and Spain are under the threat of closing down due to low prices of London Metal Exchange, excessive regulation and high power costs, an industry analyst said. Europe's strict labour and high energy costs and environmental laws have made it unprofitable to produce the primary metal in the region, David Wilson, Citigroup's director of metals research and strategy, said at Platts aluminium symposium this week. "I think we'll see Spanish and German smelters close this or next year," he said at the Platts aluminium symposium. "There's no reason to produce aluminium in Europe." Wilson predicted production in Europe will go down to 2 million tonnes this year, the lowest since the year 1971.That is a small fraction of the global output of about 50 million tonnes. The...
Alcoa today announced it will permanently close the remaining two potlines at its Massena East smelter in New York in the first quarter of this year. The decision was made because the potlines are no longer competitive. One of three potlines at the facility was permanently closed in August 2013. The closure will reduce Alcoa’s smelting capacity by 84,000 metric tons. The Massena West facility will continue to operate. “We will be working with our unions, state, local and other stakeholders to minimize the impact of these changes,” said Bob Wilt, president of Alcoa Global Primary Products. “We appreciate the support of the New York Power Authority and will work with them and others to ensure our continuing success at Massena West.” Alcoa’s review of its primary metals operations is...
Signals are mixed for LME aluminium, as it is not clear if the rebound from the Jan. 9 low of $1,751 will extend. The extension will be confirmed when aluminium climbs above a resistance at $1,785, the 38.2 percent Fibonacci retracement on the fall from the Dec. 30, 2013 high of $1,839 $1,751. Both the wave pattern and an inverted head-and-shoulders under formation indicate a possibility of the extension, as an upward wave c is yet to unfold and the inverted head-and-shoulders is a typical bullish reversal pattern. A drop below $1,751 will clearly signal the continuation of the preceding downtrend from $1,839
Aluminium makers insisted that the Government trims “punitive” energy taxes at a meeting yesterday with Michael Fallon, Business and Energy Minister. The concern of Aluminium Federation (ALFED) is UK firms are increasingly uncompetitive when compared to Chinese, European and Indian businesses. They provided the minister with a study which suggests EU legislation has left the European firms paying a total of €228 (£189.7) more per tonne than their competitors. Simon MacVicker, President of ALFED and the managing director of Bridgnorth Aluminium in Shropshire said: “What we need the British Government to do is cut the domestic energy taxation that puts us at a disadvantage to our European partners and ‘bang the drum’ in Europe for the re-industrialisation agenda, so that we once again...
Aluminium Bahrain B.S.C (Alba) was able to deliver an unparalleled performance in 2013 - sales figures for the year rose by 3.3% year-on-year (YoY) to 919,722 metric tonnes (mt) ahead of the company's own forecast for the period while production figures were up by 2.5% YoY to reach 912,700 mt versus 890,217 mt for 2012. For the fourth quarter of 2013, sales figures stretched to 237,534 (mt) - a 5.2% YoY increase versus 225,740 mt in Q4 2012; production figures increased by 2,912 mt to reach 229,916 mt as compared to the same period of 2012. In addition, Alba closed 2013 Value-Added (VA) sales with an average of 66% versus 65% in 2012 while (VA) sales for Q4 2013 represented 66% of the total shipments as compared to 64% for the same period in 2012. Commenting on Alba's sales and production...
The multinational banking and financial services firm Barclays has projected that supply deficit in aluminium market to reach 1.1 million mt in 2014, almost 51% higher when compared with the 2013 deficit of 726,000 mt. In its latest released Metals Magnifier report, Barclays states that the Chinese market is expected to report surplus of 250,000 mt aluminium, while the rest of the world will see a supply deficit of 1.3 million mt this year. Barclays projects 1.1 million mt deficit in 2015 as well. According to Barclays, the LME Aluminium cash price will average at $1,850 per mt during 2014. The average prices will rise on a quarterly basis. The projected average price during Q1 is $1,750 per mt. The average prices will increase to $1,850 per mt during Q2-Q3. In Q4, the average prices are...
The constant rise in U.S. aluminum premiums to a record level is fuelling the worry over falling supply and rising costs of a major raw material for beverage can makers as well as the automakers, despite the oversupply of stocks in the market. Premium for aluminum paid in U.S., on top of the LME for physical delivery of the metal, soared 45 % during the last week and reached the level of 17.5 cents per lb. The jump has baffled General Motors, one of the major end-users for aluminum. "I’ve not heard a convincing reason for the premium," Saber Haidous, global commodity manager for GM, said at the Platts aluminum symposium on Tuesday. His comment has affected activities in the market and worried the consumers, who have complained that high physical prices are costing the industry billions of...
Fujian Minfa Aluminium announces that it plans to buy 10 million shares in Bank of Quanzhou with CNY 30 million, representing 0.41% of capital stock after the issuance. Bank of Quanzhou grew total assets to CNY 31.60 billion by December 31, 2012; main business incomes were CNY 1.47 billion, gross profits were CNY 419.87 million, net profits were CNY 311.11 million and net cash flows from operating activities were CNY 2.79 billion.
On Friday a court said four companies have bid to purchase various assets of bankrupt KAP aluminium plant of Montenegro. The Balkan country is making every attempt to unburden one of the important exporters who had to face a huge number of losses. The bankruptcy management officials at Kombinat Aluminijuma Podgorica have finally decided to set the total value of company assets as well as the land up for sale at a price of 54.5 million euros. Getsales Ltd, a London –based company offered an amount of 5,100 euros for the main production facilities of KAP outside the capital city Podgorica and have pledged to invest an amount of 700 million euros. Another local big firm, Montenegrin Uniprom has offered a sum of 28.5 million euros to buy a major part of the assets of KAP. Politropus...
Press Metal Bhd has named Public Investment Bank Bhd as independent adviser to non-interested directors and shareholders on a proposed exemption sought by its major shareholder Alpha Milestone Sdn Bhd (AMSB) and persons acting-in-concert (PACs) from the Securities Commission (SC) to overtake the remaining company shares and convertible securities not owned by them after the conversion of more than RM233.9mil nominal value of eight-year 6% redeemable convertible secured loan stocks. The Koon brothers are directors and substantial shareholders of Press Metal as well as AMSB. In a filing with Bursa Malaysia, (Maybank IB) said the appointment of Public Investment Bank is conditioned by the approval of the Maybank Investment Bank Bhd and SC. Maybank IB is Press Metal adviser on the proposed...
IIAC (Iran International Aluminium Conference) 2014 is scheduled to take place on the 25-26th of May 2014 with the motto “Aluminium, Key to a Sustainable Industry.” Alongside this event, a two day exhibition and prior to it a two day workshop will take place. A vast network of companies, associations, authorities and consortia make IIAC2014 one of most advanced conference & exhibition cases in the Persian Gulf region. This event is considered one of the most determining Aluminium events in Iran thanks to the confirmation of well known sponsors and special guests from the industrial sectors: Alumroll Novin, Paradise Aluminium Industries, Syndicate of Aluminium Industry of Iran, Iran University of Science & Technology, Iranian Metallurgical Engineering Society and Iranian Mining Engineering...
