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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Jobs at Portland Aluminium are in the clear after Alcoa ruled the south-west smelter out of a review process into it’s troubled Point Henry site near Geelong. Point Henry workers will know in March what the company will do with the smelter, which received a Commonwealth bailout in 2012 that’s set to expire this year. But Alcoa has delivered certainty to it’s south-west workforce saying the review process “doesn’t include Portland Aluminium”. “It’s not being reviewed ... it’s not being looked at,” a company spokeswoman told The Standard. “It’s an ongoing process — we will notify our (Point Henry) employees in March.” The Portland smelter has largely escaped the turbulence facing other smelters across the country because of its relative young age and good efficiencies. It was mainly absent...
The decks have been cleared for selling the Government’s remaining stake in aluminium major Balco with the Law Ministry giving its nod to the proposal. The stake sale is expected to generate up to Rs 4,000 crore in the current fiscal. A note prepared by the Law Ministry, seen by Business Line, stated, “Subject to Attorney General’s opinion and noticing that there appears no constitutional or legal issue involved in the matter, the proposal in the note is a policy decision we may concur in.” The Ministry has given its remarks in a response to the proposal floated for approval by the Cabinet Committee on Economic Affairs. The note has mentioned the two opinions given by AG, first dated April 27, 2006 and the second one dated December 12, 2013. The latest one opined that the Government is no...
China's additional power tariffs aimed at energy-hungry aluminium smelters are not likely to boost prices for the metal as enough new capacity is coming on line to replace any plants forced to close due to the increase in costs. Top aluminium producer and consumer China imposed extra power tariffs this month on smelters using more than 13,700 kilowatts (KWs) for each tonne processed, part of a scheme to close inefficient plants and rein in overcapacity. The additional power fees could raise costs by as much as 1,100 yuan ($180) per tonne for some smelters. Around 1.7 million tonnes of aluminium smelting capacity would be liable for the higher tariffs, according to Shanghai-based industrial metals information provider SMM. That would account for around 7.2 per cent of China's operating...
Dozens of former Ormet Corp. employees picketed in front of American Electric Power headquarters yesterday, hoping to call attention to what they see as inaction by the utility and state regulators that led the southeastern Ohio aluminum smelter to shut down. “All we want to do is go back to work,” said Donnie Blatt, a former Ormet employee who now works for the United Steelworkers union. Ormet, based in Hannibal on the Ohio River, closed its doors in October after an unsuccessful attempt to get AEP to increase its electricity subsidy — already the highest of its kind in the state. At full employment, the company had more than 1,000 workers. AEP spokeswoman Melissa McHenry issued the following statement: “We are sorry to see any Ohio business fail, and we sympathize with the Ormet...
Alcoa today reported solid operating performance in the fourth quarter and full-year 2013 as the Company’s repositioning gains traction, offset by special items primarily to address legacy matters in the Primary Metals business. As a result, Alcoa reported a fourth quarter 2013 net loss of $2.3 billion, or $2.19 per share. Special items in fourth quarter 2013 totaled $2.4 billion and included a non-cash goodwill impairment of $1.7 billion related to Primary Metals. The impairment has no impact on the Company’s liquidity and does not affect the ongoing operating performance of Primary Metals. Excluding the negative impact of special items, Alcoa reported net income of $40 million, or $0.04 per share, in fourth quarter 2013. Engineered Products and Solutions (EPS) reported record fourth...
LME aluminium is expected to rise to $1,803 per tonne, as indicated by a falling channel and a Fibonacci projection analysis. The metal has risen into the falling channel, which has been duplicated from a lower channel. The upper channel line of the duplicated channel points a target at $1,803, the 38.2 percent Fibonacci projection level of a wave c. An immediate resistance is at $1,792, the 61.8 percent projection level, which may be broken easily. A correction from the current level may be limited to $1,775, the 100 percent projection level. The views expressed are his own. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice...
Federal court records show Pittsburgh-based Alcoa Inc. will pay about $11 million to purchase 51,841 metric tons of carbon anodes from Ormet Corp., as the bankrupt company continues selling off raw materials needed to make aluminum. Judge Mary Walrath of the U.S. District Bankruptcy Court in Delaware approved the sale to Alcoa after Ormet attorneys conducted an auction, court records show. Alcoa defines the anodes as large carbon blocks that act as electrical conductors to allow the aluminum smelting process to take place at a plant such as Ormet's Hannibal Reduction facility. Unloading the anodes is just the latest step for Ormet, which closed its smelter in October. Court records show the company has also sold $3 million worth of copper rods to Libertas Copper; sold alumina to...
Aluminium premiums, or costs to get metal out of storage, have soared to all-time highs in the United States with Europe and Asia close behind as smelters shut and spare metal is snatched up by traders for collateral in financing deals. The rise in premiums highlights the London Metal Exchange's (LME) limited ability to cool a market where low interest rates continue to whet appetites for locking up aluminium as a form of investment. The LME, the world's largest metals marketplace, announced big changes to its metals storage system in November after years of complaints about wait times of more than a year and large premiums to withdraw metal from the warehouses it monitors. It outlined plans to slash waiting times to a maximum of 50 days, among other measures, which analysts and...
Aluminum stocks tracked by the LME have increased by 116,750 MT as per the latest available quote at the LME warehouses. --Aluminum ended yesterday’s trading session marginally higher by 0.5% at the LME platform, recovering smartly from its intraday low to close at $1782/MT . --The aluminum inventories have marginally declined by 4350 MT in yesterday’s trading session. However, aluminum inventories have been continuously rising since the last two months. Aluminum stocks tracked by the LME have increased by 116,750 MT as per the latest available quote at the LME warehouses. --During the day, we hold a ranged view on aluminum as the commodity might take positive cues from the factory orders data and the increase in the premium of the metal from $13.75/lb to $14.75/lb. However, the metal...
LME aluminium may test a resistance at $1,792 per tonne, as it has broken a resistance at $1,775. The resistance was provided by the 100 percent Fibonacci projection level of a wave c, which has bottomed at the Monday low of $1,756. This is the final wave of a three-wave cycle that developed from the Dec. 30, 2013 high of $1,839. The sharp surge from $1,756 indicates the completion of this cycle. Next resistance will be at $1,792, the 61.8 percent projection level, a break above which will cause a further gain to $1,810, the 23.6 percent projection level, which is pointed by the upper channel line of a falling channel. The views expressed are his own. No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her...
Alcoa Inc, one of the world’s largest aluminum producers, has had its expected 4th quarter EPS and 2014 price targets reduced on falling aluminum prices. J.P. Morgan analyst Michael F. Gambardella has been impressed with Alcoa management’s efforts to cut costs and pursue downstream growth, making the stock a possible long-term prospect, but says that “in the nearer term, we believe these efforts will be largely overshadowed by a persistently weak aluminum price environment, which should weigh on AA’s earnings and stock price.” Analysts rate Alcoa stocks as neutral UBS analyst Brian MacArthur agrees that the company is facing headwinds in the near-term, though he is slightly more optimistic in long-term, setting the 12-month price target at $10 (both analysts rate the company at Neutral)....
A seminar-cum-buyer seller meet & ancillary development programme held on the 6th day of Odisha MSME International Trade Fair hosted a number of representatives from various corporate and PSUs like NALCO, NINL, PPT, HCL, RSP-SAIL. Speakers present in the seminar urged the PSUs to come forward and procure raw material as well as service from the MSME sector to support development of the sector in the state. Speaking on the occasion Mr. A K Patra, GM-Materials, NALCO informed about the initiatives taken by the Navaratna Company. Nalco has made a special provision to purchase 4% of MSME products out of 20% made by Ministry of MSME, Govt. of India only from SC/ST SME entrepreneurs. It has taken an exclusive drive for the SC/ST entrepreneurs. Most importantly it has erected a permanent...
The Indian aluminum cash price saw a 1.4 percent increase on Friday, January 3, making it the biggest mover for the day. Declining prices continue for the cash price of primary aluminum on the LME. It closed at $1,755 per metric ton only after falling further, this time by. On the LME, the 3-month price of aluminum declined 0.5 percent to $1,802 per metric ton. Chinese aluminum prices closed flat for the day. The cash price of Chinese aluminum saw little change in its price last Friday. The price of Chinese aluminum scrap remained essentially flat. The price of Chinese aluminum billet was unchanged. For the fifth consecutive day, the price of Chinese aluminum bar held flat.
The premiums buyers pay for aluminum are poised to reach records after extending highs in the U.S., according to a report from Harbor Intelligence, an Austin, Texas-based researcher. The surcharges are set to reach all-time highs in the next few weeks in Europe, Asia, Mexico and Brazil, according to a Harbor report on Jan. 3. That’s when the U.S. Midwest premium added to the price of aluminum on the London Metal Exchange rose to a record 14.75 cents a pound from 13.75 cents the day before. “Buyers can’t really find metal at 12 cents a pound,” Jorge Vazquez, the managing director of Harbor, said in the report. “Traders/producers are practically not willing to sell metal at premiums lower than 14.75 cents a pound Midwest.” Aluminum for delivery in three months fell 0.6 percent to $1,762.75...
K.C. Samal has assumed the office of Director (Finance) at National Aluminium Company Limited (NALCO) on 3rd January 2014. Prior to this assignment, he was working as the Executive Director (Finance) of the company. A fellow member of Institute of Cost Accountants of India, Shri Samal has significant exposure in the areas of Treasury Functions, Foreign Exchange Management, Corporate Accounts, Budgeting & Control. He has played a key role in large-scale computerization in Finance, Capital Restructuring, Foreign Debt Management, introducing Risk Management against Foreign Exchange exposure. He is associated with various academic institutions as visiting faculty like XIMB, Utkal University, KIIT, ICAI. He is representing Nalco on the Board of Joint Venture Company – Angul Aluminium Park Ltd....
More than 500 workers at Geelong's Point Henry aluminium smelter will find out in March whether they will keep their jobs, as Alcoa decides on the plant's future. The US global aluminium giant confirmed on Tuesday that a decision on the smelter's future would be made by the end of March. Alcoa agreed in 2012, when the Federal Labor government under Julia Gillard and Victorian government provided the company with $44 million in support, to keep the loss-making smelter open until June this year. However, conditions for the global aluminium industry have not improved since then, with prices staying low amid a supply glut and slowing demand. The price of aluminium was above $US2,000 a tonne two years ago but now is down to about $US1,770 ($A1,980.42). Chinese smelters are over-producing and...
Weiqiao Pioneering Group, parent of one of China’s largest privately-owned aluminium smelters, signed an agreement with CITIC Dicastal Co. to supply the metal liquid for the globally leading manufacturer of aluminium wheels. The Weiqiao group and CITIC Dicastal signed a strategic cooperation framework agreement in Binzhou Economic Development Zone of Shandong province on Jan. 2, the zone’s authorities said on its website. According to the agreement which was also signed by CITIC Dicastal’s local partner Shandong Binzhou Bohai Piston Co., Weiqiao’s aluminium company would supply 100,000 tonnes of molten aluminium a year to the wheel manufacturer. By using the metal liquid instead of ingots, CITIC Dicastal believes to be able to save 200-million-yuan ($32.7 million) worth of electricity...
Alcoa (AA), the once-iconic aluminum producer, and now former Dow 30 component, is scheduled to report their calendar 4th quarter earnings after the bell on Thursday, January 9th, 2013. Consensus analyst expectations for q4 13 are for $0.05 in earnings per share (EPS) on $5.426 billion in revenue for expected year-over-year declines of 17% and 8% respectively. Since q3 13 was reported in early October, EPS has seen a slight downward revision from $0.06 to now $0.05 per share, while the consensus revenue estimate has fallen from $5.444 billion to $5.26 billion. The price of aluminum remains stable at the low end of its 6 month range near $0.80 per pound, according to this chart from InvestmentMine.com. All the recent rule changes around aluminum and warehousing and what was uncovered in...
