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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XinRen Aluminum Holdings Limited, a maker of aluminum ingots, narrowed its net loss for the first quarter ended March 31, 2013. Net loss was RMB6.76 million compared to RMB10.11 a year ago as higher administrative, finance and other costs eroded gains. Revenue grew 22.5 per cent to RMB1.77 billion, largely due to the recognition of deferred revenue from its smelting division that had not been recognised on December 31, 2012, as well as the increase in trading sales of alumina during the financial period under review. XinRen's executive chairman, Zeng Chaoyi, said: "The operating environment remains tough in the face of softer aluminum prices and rising costs."
The Indian aluminum cash price fell 3.8 percent on Friday, May 10, making it the day’s biggest mover. The primary aluminum cash price changed direction with a 1.2 percent drop. After two days of improving prices, the metal finished at $1,864 per metric ton on the LME. The aluminum 3-month price declined 0.9 percent on the LME to $1,896 per metric ton, after two days of improvement. Chinese aluminum prices were mixed for the day. Closing out a three-day flat streak, the price of Chinese aluminum billet moved up 0.3 percent. The Chinese aluminum cash price rose 0.1 percent. Chinese aluminum scrap held its value last Friday. For the fifth consecutive day, the price of Chinese aluminum bar held flat.
Azerbaijan, one of Indonesia’s major suppliers of oil, was planning to build a US$4.8 billion oil refinery in Batam and an aluminum plant in Kalimantan to cement the increasingly close relations between the South Caucasus nation and Southeast Asia’s largest economy, a top Azerbaijani diplomat said. “Our state oil company, SOCAR, is in negotiations with Indonesia’s OSO Group to build a large oil refinery in Batam. There is no final decision yet on the project; it is being considered,” Azerbaijani Ambassador to Indonesia Tamerlan Karayev told The Jakarta Post on the sidelines celebrations marking the 90th anniversary of the birth of Azerbaijan’s foremost national leader, the late Heydar Aliyev, on Friday. Karayev noted that bilateral ties were growing fast. Several high-level visits,...
It was announced yesterday that China’s April industrial value added and consumer goods retail sales rebounded slightly, but missed expectations. Fixed asset investments in urban areas in the first four months this year slowed from the same period last year. Base metal output during the first four months grew notably on a year-on-year basis. Oversupply pressure in aluminum market is growing. US retail sales grew unexpectedly in April, but inventories at enterprises failed to keep pace. A firm US dollar kept a lid on aluminum prices . As such, LME aluminum sank to a low of USD 1,850/mt, and finally closed 0.61% lower at USD 1,863.3/mt. Latest LME aluminum inventories increased 7,525 mt to 5,154,175 mt. Aluminum prices will remain low on Firm US dollar and downbeat economic figures. LME...
Aluminum Corp Of China Ltd announced that it will list all its 86.84% stake in a Henan-based aluminum company, a 60% stake in an aluminum plate company, a 100% stake in a cold rolling company and a Qingdao-based light metal company, a 56.86% stake in another aluminum company, a 93.74% stake in another aluminum plate company, a 50% stake in a Chongqing-based special aluminum material company, and a 40% stake in a Guizhou-based aluminum company, on China Beijing Asset Exchange for sale.
Aluminum Corporation of China was upgraded by investment analysts at Credit Suisse from a "neutral" rating to an "outperform" rating in a note issued to investors on Friday. Aluminum Corporation of China traded up 4.41% on Friday, hitting $10.41. Aluminum Corporation of China has a 1-year low of $8.95 and a 1-year high of $13.29. The stock's 50-day moving average is currently $9.55. The company's market cap is $5.800 billion.
The Tiwai Point aluminium smelter is "losing millions of dollars every month" and can ill-afford to give shift workers a 50% increase in leave without increasing hours worked, the company says. The smelter owner, New Zealand Aluminium Smelters, says it will appeal an Employment Relations Authority decision that overturns its 20-year practice of applying a "lieu days benefit", which the company says "complies with the law and our contracts." "The ERA's decision imposes millions of dollars in additional costs on NZAS, both retrospectively and into the future, at a time when the smelter is already losing millions of dollars every month," acting general manager Stewart Hamilton said in a statement. Owned ultimately by global metals giant Rio Tinto through its Pacific Aluminium subsidiary, the...
Aluminum Corporation of China Limited, or Chinalco, China's largest alumina producer and the world's third largest primary aluminum producer, has announced the sale of 8 billion yuan's worth ($1.3 billion) of assets after heavy losses for the past four years. The assets being sold are held by nine subsidiaries, including producers in the Southwest and Northwest China, eight of which registered considerable losses in the past year. In 2012 Chinalco posted a total loss of 8.23 billion yuan, a record low since listing in 2007. In an effort to turn around its fortunes, Chinalco is abandoning its loss-making aluminum processing activities, and switching to alumina and electrolyzed aluminum. The assets being sold are being taken over by its major shareholder, the Aluminum Corporation of China....
Guangxi Laibin Yinhai Aluminum (250,000 mt/yr in aluminum capacity) and Guangxi Baise Yinhai Aluminum (200,000 mt/yr in aluminum capacity), both of which are subsidiaries of Guangxi Investment Group, will likely resume production soon due to electricity price subsidies. The two companies’ total capacity now in operation is 60,000 mt/yr and 100,000 mt/yr, respectively, but both producers have cut a total of 290,000 mt/yr in capacity as of the end of April since aluminum prices remain depressed. Guangxi Investment Group reached a preliminary agreement with the local government for a discount of RMB 0.15/kwh for electric power. The group is also seeking long-term preferential power price policies. Its two subsidiaries will bring 290,000 mt/yr in idled aluminum capacity back online before the...
Acute shortage of coal forced the National Aluminium Company to close down more than 200 pots in its smelter plant on Monday bringing down the production of aluminium by 250 tonne per day. Prior to this, Nalco was running 823 pots of the 960 pots in the smelter plant and the present shut down is bound to reflect on the aluminium production. “We have now started shutting down pots in a gradual manner so that the whole process will be completed within a week. The total metal production which remained an average of 1100 tonne will come down to 850 tonne now,” said a higher official of Nalco. The decision to cut down aluminium production was taken after the company was forced to curtail power generation to 600 MW from the current 800 MW. Coal crisis at Nalco began after operation of its...
The management of Aluminium Smelter Company of Nigeria in Ikot Abasi, Akwa Ibom, says it will soon inaugurate water project in the state. The Director, Government- Public Relations, Tatyana Smirnova, disclosed this in an interview in Ikot Abasi Local Government Area. Smirnova said that the project would be inaugurated on May 31 in Ikot Abasi Local Government Area of Akwa Ibom. ``This month, ALSCON will launch regular water project aimed at providing water to villages of traditional communities in Ikot Abasi Local Government Area. ``ALSCON is going to finish this project and inaugurate it at the end of May,’’ she said. According to her, implementation of the water project started at Ikot Akpa Enin village and Ikpa Nung Assang clan, both in Ikot Abasi council. She said the company was...
The Street upgraded shares of Century Aluminum Company from a sell rating to a hold rating in a report issued on Tuesday. "Century Aluminum Company has been upgraded by The Street Ratings from sell to hold. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and a generally disappointing performance in the stock itself.", TheStreet's analyst wrote. A number of other analysts have also recently weighed in on CENX. Analysts at Cowen Securities upgraded shares of Century Aluminum Company from a hold rating to a buy...
Aluminium Bahrain has posted Q1 sales of $498m, up by $2m on the same period for 2012 ($496m). Net income almost doubled from $57m in 2012 to $108m – an increase of 89% – and CEO Tim Murray attributed the company’s success to strong operational performance but also Alba’s ability to ‘capitalise on a significant increase in product premiums’.
Markets were digesting mixed economic indicators for April last Friday. Interest rate cuts by central banks and improvement in US labor market alleviated market concerns some, but US dollar index broke through 83, sending LME aluminum down from USD 1,904/mt to USD 1,848.8/mt. LME aluminum rebounded slightly at the tail of trading, and finally closed 0.87% lower at USD 1,874.8/mt. Latest LME aluminum inventories decreased 5,300 mt to 5,146,650 mt. The light metal will move within tight price ranges today as investors are staying wary. LME aluminum should fail to reach USD 1,890/mt and fluctuate in the band of USD 1,850-1,890/mt on Monday. SHFE 1308 aluminum contract is expected to open at RMB 14,650/mt, with prices between RMB 14,600-14,700/mt. In spot market, suppliers and buyers will...
Aluminium Bahrain B.S.C.'s employees were amongst a select group of 150 workers from different companies in Bahrain who were honoured for their outstanding performance during a ceremony to mark the International Labour Day. Held under the patronage of His Majesty King Hamad bin Isa Al Khalifa, the honouring ceremony was organised by the Bahrain Free Labour Federation (Al Hurr). Representing His Majesty the King at the event was His Excellency the Minister of Labour, Jameel Humaidan who presented the awards. Alba's Chief Executive, Tim Murray, Chief Operations Officer, Isa Al Ansari and Acting Finance & Supply Officer, Ali Al Baqali were present at the ceremony as 22 Alba employees received their award for outstanding performance. Also present were other senior officials from the company....
Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, said it will sell about 8.18 billion yuan ($1.3 billion) of assets, including production plants, mainly to its parent. The Beijing-based company, called Chalco, also plans to sell $1 billion of perpetual bonds overseas and will eliminate the position of chief executive officer, with the chairman and president taking over those functions, according to Hong Kong and Shanghai stock exchange filings yesterday. The sale of stakes in its aluminum-fabrication units will “optimize the asset structure, lower the debt-to-asset ratio and improve the debt portfolio of the company,” Chalco said in two of the filings. This will let the “company focus on the development of quality resources” and the high end of the...
Country's third-largest producer of aluminium, National Aluminium Co Ltd, has raised aluminium prices by $63.79 per tonne in the domestic market following a slight recovery in global prices, two company sources said on Friday. The basic price of standard aluminium ingots rose to $2372.90 per tonne, effective Thursday, said the officials, who declined to identified. NALCO revises prices of its products from time to time to mirror global prices. It had been cutting prices over the past three months, during which aluminium prices dropped about 8 percent. It had cut domestic prices of aluminium ingots by 3 percent in the first week of this month.
Emal CEO Saeed Fadhel Al Mazrooei is already looking beyond the Abu Dhabi smelter’s phase ll development in anticipation of major global growth in demand for aluminium. Emal’s phase ll development will come on stream in December 2013 and by Q2 2014 will boost the smelter’s annual capacity from 800kt to 1.3Mt, but with global demand likely to rise from its current 46Mt/yr to 60Mt/yr, further growth is definitely on the cards. The Gulf region generally exports most of its aluminium output as currently it only has a fledgling downstream industry at present. Most Gulf metal is exported to Asia, Europe and the USA. Between Emal and Dubal the UAE produces 1.7Mt/yr of aluminium and supplies domestic markets with approximately 200kt. As a so-called ‘anchor tenant’ of the Kizad industrial...
