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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Aluminum prices dropped in four consecutive trading days until Tuesday (14/5). Decline in aluminum prices along with other industrial metals prices drop in the past week. Only tin which recorded an increase in price. Price of aluminum for delivery in three months on the London Metal Exchange (LME) was at U.S. $ 1,857 per tonne on Tuesday (14/5). This figure is down 0.54% compared to the previous day. In the last four days, the price of aluminum fell 2.67%. This industrial metal prices declined 10.41% since the end of 2012 and at U.S. $ 2,073 per metric ton. This week, there is some information concerning the revision of economic growth in developed countries and global economic growth, so it can be a little prop strengthening aluminum prices. Some industrial metal prices fell after Bank...
Russia’s United Company RUSAL Plc, the world’s largest aluminium producer, said in its statement on Tuesday it saw revenue grow by 2.2 percent to $2.682 billion in the first quarter year-on-year. RUSAL reported a drop in the aluminium output by 4 percent or 42,000 tonnes to 1.007 million tonnes, as it started a program to reduce capacities. The adjusted EBITDA reached $246 million, while RUSAL’s adjusted EBITDA margin was 9.2 percent (a growth by 11.3 percent year-on-year). In the first quarter of 2013 the company paid $483 million to international and Russian creditors. Last April RUSAL completed the deal to sell Norilsk Nickel’s shares to Millhouse under the shareholders’ agreement signed in December 2012. The funds from the deal - $620 million - were injected into early repayment of a...
Oleg Deripaska’s Rusal on Tuesday reported a better than expected net profit of $52m, yet concerns remain about the company’s recovery following a sharp decline in aluminium prices. Market prices for aluminium have fallen to as low as $1,800 a tonne in recent weeks, with the average price for the second quarter down 7.5 per cent compared with the first three months of the year. While Rusal is working to combat the downturn by reducing capacity at lossmaking smelters in western Europe, the world’s number-one aluminium producer faces a market that is vastly oversupplied, with China thus far refusing to cut production. In the first three months of the year, Rusal reduced its primary aluminium production by 3 per cent quarter on quarter, while the company is aiming to reduce output by a total...
Tuesday has seen London warehouses witnessing a rise in aluminum inventories to the tune of 1.4% or 76125 tons to touch 5230300 tons. The inventories mark a six week high level. The prices have been charting a downward direction ever since higher supply pressure began to be felt by markets. For instance, UC Rusal, a Russian aluminium major has called for production cuts. It estimated that global primary aluminium consumption has touched 12 million tonnes in the first quarter of 2013; 6% spike y/y.
As part of efforts by the Khalifa Industrial Zone Abu Dhabi (Kizad) to raise its profile across the international business community, representatives from the giant UAE based industrial zone are in London this week attending the 18th CRU World Aluminium Conference. Starting with a press briefing today, held at the home of London's Baltic Exchange, the world's only independent and leading trading and derivatives exchange for the commercial maritime industry, Kizad's management team will be inviting British business interest and investment in its Aluminium Cluster throughout the three-day event, showcasing one of its fastest growing industrial clusters to UK-based investors. One of nine dedicated sectors at Kizad, the 'Aluminium Cluster' has already seen billions of dollars earmarked for...
United Co. Rusal PLC, the world's largest aluminum producer, said Tuesday that it saw a substantial narrowing in first-quarter losses, as it pushes to cut annual output in a market battling with excess global supply, poor demand and low prices. First-quarter net losses adjusted for the company's Norilsk Nickel investment and derivative and interest rate charges totaled $47 million, almost halving the $90 million loss made for the same period in 2012 and about a third of the $138 million-loss in the fourth quarter. Rusal also reported a 4.0% drop in first-quarter aluminum production, after it said in March it would cut production 7% in 2013 and maintain lower production through at least 2015 unless prices rise sharply. Output was 3.0% lower compared with the fourth quarter of last year....
Q1 GDP in France, Spain and Italy contracted. Germany’s GDP pointed to slight growth in the first quarter, but still missed forecasts. As a result, Q1 GDP in the euro zone declined 0.2%, contracting for a sixth straight quarter. The US dollar index surged above 84 on weak European economic data. It was later announced that the US industrial production fell sharply in April and New York Fed manufacturing unexpectedly pointed to contraction in May. These discouraging figures dampened market sentiment, but also raise expectations that the US Fed will not scale back asset buying for the time being, forcing the US dollar index to give back gains. LME aluminum was capped under USD 1,850/mt during European trading session, with the low-end price at USD 1,821/mt. LME aluminum recovered most of...
Union representatives say they are "disappointed" the Tiwai Pt aluminium smelter has appealed a decision to pay its workers millions of dollars in backpay. Last week, 64 union members at the smelter won an Employment Relations Authority case they took against New Zealand Aluminium Smelters that resulted in the smelter owing affected workers about $7 million. The dispute was over the interpretation of lieu days for 12-hour shift workers at the plant. The union claimed that since hundreds of employees shifted from 8 to 12-hour shifts about 20 years ago, the company had been incorrectly calculating their lieu day entitlements. The company had continued to provide the 12-hour-shift workers with an additional 8 hours' paid leave in respect of each public holiday, whereas it should have been...
Aluminium prices fell by 0.44% to Rs 101.25 per kg in futures trading today, largely in tune with a weakening trend in the global markets on demand concern. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange (MCX), the May contract eased by 45 paise, or 0.44%, to Rs 101.25 per kg in 181 lots. The June contract fell by a similar margin to trade at Rs 102.30 per kg in 11 lots. At the London Metal Exchange (LME) aluminium traded 0.20% lower at $1,867 per tonne. Market analysts said the weakness in aluminium at futures trade was mostly in tune with a downtrend in base metals at the LME and subdued demand at domestic spot markets.
China has temporarily halted 1 million metric tons a year of primary aluminum capacity so far this year and could cut a further 300,000 tons capacity in the country's east before year-end if metal prices remain low, but this won't solve the global industry's overcapacity problems, CRU consultants specializing in the Chinese aluminum sector said in an interview Tuesday. The Asian giant isn't contributing on a net basis to help solve the world aluminum overcapacity problem, because it continues to build new smelter capacity in Xinjiang in the country's northwest, where abundant coal makes energy cheaper than in other provinces and some new smelters gain tax incentives, said Ling Wong and Yanchen Wang, senior CRU consultants during CRU's World Aluminium Congress. China is currently producing...
Global primary aluminum consumption rose 6% year on year to 12 million mt in the first quarter of 2013, aluminum producer Rusal in Russia said Tuesday. China posted the strongest demand growth rate of 11%, supported by a strong 12.81% year-on-year rise in automotive output during the quarter, Rusal said. The company however, did not give the aluminum consumption breakdown by regions. China has cut aluminum production by 780,000 mt due to oversupply, but also brought on-stream, 810,000 mt of new production capacity in Q1. "We expect the Chinese market to become more balanced in 2013 as loss making and obsolete capacity will be curtailed and the commissioning of new capacity will be slower," Rusal said. Meanwhile, overall consumption growth in Europe during Q1 was flat despite a rise of...
Aluminum Corporation of China Limited (Chalco), the country's biggest aluminum producer by output, announced plans recently to sell its aluminum processing assets, a development which underlines the industry's vexing overcapacity problems, analysts said Tuesday. Chalco intends to transfer stakes in eight subsidiaries valued at 2.09 billion yuan ($340.3 million) through the Beijing Equity Exchange, according to a filing the aluminum producer submitted to the Shanghai Stock Exchange Friday. The eight units mentioned - Chalco Henan Aluminum Co, Chalco Southwest Aluminum Sheet Co, Chalco Southwest Aluminum Cold Rolled Sheet Co, Huaxi Aluminum Co, Chalco Ruimin Aluminum Sheet Co, Chalco Qingdao Light Metal Co, Chalco Sapa Special Aluminum Products (Chongqing) Co and Guizhou Chalco Aluminum Co...
German ZEW economic sentiment edged up to 36.4 in May, but was well below expectations, suggesting dim economic outlook in the euro zone. Meanwhile, there was nothing cheerful about US economic indicators. As a result, the US dollar index rose to 83.687, weighing down commodity prices. LME aluminum inventories surged over 76,000 lots, highlighting oversupply pressure. Aluminum prices were resilient somewhat due to cost support, though. A wave of short-covering was reported after LME aluminum retreated from USD 1,850/mt during European trading session. Finally, LME aluminum ended the day down 0.42% at USD 1,855.5/mt. Latest LME aluminum inventories increased 76,125 mt to 5,230,300 mt. Aluminum prices will remain low as investors are alert. LME aluminum should struggle at USD 1,860/mt and...
Russia’s United Company RUSAL Plc, the world’s largest aluminium producer, said in its statement on Tuesday it saw revenue grow by 2.2 percent to $2.682 billion in the first quarter year-on-year. RUSAL reported a drop in the aluminium output by 4 percent or 42,000 tonnes to 1.007 million tonnes, as it started a program to reduce capacities. The adjusted EBITDA reached $246 million, while RUSAL’s adjusted EBITDA margin was 9.2 percent (a growth by 11.3 percent year-on-year). In the first quarter of 2013 the company paid $483 million to international and Russian creditors. Last April RUSAL completed the deal to sell Norilsk Nickel’s shares to Millhouse under the shareholders’ agreement signed in December 2012. The funds from the deal - $620 million - were injected into early repayment of a...
The biggest mover on the weekly Aluminum MMI® was the Indian aluminum cash price, which saw a 8.1 percent increase. This comes on the heels of a 5.0 percent decline the week prior. The primary aluminum cash price rose 5.5 percent on the LME to $1,886 per metric ton after falling 4.4 percent during the previous week. The 3-month price of aluminum rose 4.6 percent on the LME to $1,913 per metric ton after falling 3.8 percent during the previous week. Chinese aluminum prices were mixed for the week. One of the big movers this week was Chinese aluminum scrap, which shot up 3.0 percent. The Chinese aluminum cash price rose 0.9 percent after falling 0.4 percent during the previous week. The price of Chinese aluminum billet rose 0.7 percent after falling 0.3 percent during the previous week....
DUBAL and EMAL continue to target growth in European market share, raise profile of UAE aluminium sector, at CRU 2013. United Arab Emirates: The key players in the UAE's primary aluminium industry -- Dubai Aluminium and Emirates Aluminium -- will participate jointly at the Commodity Research Unit's 18th World Aluminium Conference, which takes place in London, England, from 14 to 16 May this year. Widely acknowledged as 'the world's authoritative aluminium events for senior executives', the annual series of CRU World Aluminium Conferences regularly attract senior executives from the aluminium industry across the world, ensuring a superb platform for DUBAL and EMAL to promote both their respective companies and DUBAL 's proprietary world-leading DX and DX+ Reduction Technologies implemented...
The Nigerian Supreme Court will determine who has acted contrary to ts judgement. The Supreme Court will on Monday hear the petition against the Bureau of Public Enterprises (BPE) over its decision to cancel the offer to BFIG to acquire the Aluminium Smelter Company of Nigeria (ALSCON). The BPE, which claimed the March 19, 2013 decision was approved by the National Council on Privatization (NCP), said the cancellation followed BFIG’s “inability to pay the agreed 10 per cent of the offer price within 15 working days of the execution of the Share/Sales Purchase Agreement, SPA, as directed by the Supreme Court of Nigeria.” The Supreme Court in its July 6, 2012 unanimous judgment had issued an order of specific performancee mandating BPE to provide a mutually agreed share purchase agreement...
Chalco to Sell Stakes at Eight Aluminum Processing Subsidiaries The Aluminum Corporation of China (Chalco)’s aluminum processing business has the smallest gross margins and is the one of the major reasons behind its losses. As such, Chalco has decided to sell stakes at its eight aluminum processing subsidiaries, including Chalco (Henan), which reported more than RMB 500 million in losses last year. The Chinese aluminum giant will also sell assets at its Chalco Northwest Aluminum Branch and alumina production lines at Chalco (Guizhou). Its aluminum processing assets will thus decrease RMB 15 billion. Emal Expands Capacity to Meet Growing Global Aluminum Demand Emal CEO said its company will further expand capacity in 2017. Its annual output will grow to 1.3 million mt by the end of 2014...
