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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Aluminium group AMAG Austria Metall forecast on Tuesday its earnings may slip in 2013, backing away from its outlook in March for flat profit. "All in all, we expect another successful year from an operational perspective although the factors of influence mentioned above could lead to slightly weaker results as compared to the prior year," it said, citing margin pressure in its European car parts business and lower aluminium prices. First-quarter earnings before interest, tax, depreciation and amortisation fell 9.1 percent to 31.4 million euros ($41 million) on sales down 3.3 percent to 202.3 million euros.
China is still the big story in primary aluminum production on a global scale, but India and the Middle East are coming up as rival hubs, analysts and participants in the sector said. Lower energy costs and easier access to raw materials are the biggest attractions in India and the Middle East; regions that market players say have room to grow as producers close shop in developed countries as power costs make their plants uneconomic. Energy costs per tonne of aluminum produced range from $255 to $368 for major producers in the Middle East, a market source told AMM sister publication Metal Bulletin. In India, the energy costs range from $514 to $904 per tonne, the source added. "Energy is by far the largest portion of production costs (for aluminum smelters) and a growing portion given the...
CRU, independent commodity industry analysts and management consultants in the global metals, mining and fertilizer industries, has launched their Aluminium Casthouse Shapes Market Outlook, a resource for forthcoming developments in the industry. CRU's Aluminium Casthouse Shapes Market Outlook offers comprehensive information for all producers, traders and consumers of aluminium ingot, slab, billet, foundry alloy and wire rod; the report has been compiled by an expert team of consultants, all of whom have conducted detailed research and analysis of the industry. The report features: in-depth explorations of all fundamental and non-fundamental factors driving ingot premiums; detailed five-year forecasts covering the demand for casthouse shapes (by region and product type); industry...
The spirit of innovation and continuous improvement at Dubai Aluminium has again been recognised by an independent, peer-based jury, this time in the Ideas.Arabia Idea of the Year Competition 2013. Three DUBAL submissions won awards in two categories in the competition, bringing the total number of awards garnered by DUBAL since the inception of the Ideas.Arabia contest to 21. The award ceremony was integral to the 8th Ideas.Arabia International Conference, which was held at Grand Hyatt Dubai, on 22 and 23 April under the patronage of H H Sheikh Ahmed bin Saeed Al Maktoum (President of the Dubai Department of Civil Aviation and Chairman of Emirates Group). The three awards presented to DUBAL were: 2013 Ideas.Arabia Productivity Award -- This went to the suggestion entitled "Modify bus bar...
Aluminium inventories appreciated by 10825 tonnes to 5163650 tonnes compared to last night the official data from London Metal Exchange revealed. Aluminium inventories are already at all time highs and the rampant rise is causing markets to destabilize. China, which is the key market of Aluminium, is jostling with rise of production levels and these supplies are getting transferred to LME and Shanghai warehouses. The data from Shanghai futures exchange showed that the on - warrants increased by 1367 tonnes to 260835 tonnes. Rise in on-warrants is a sign of slower demand and stocks to be kept in warehouses. Since the beginning of this year on-warrants in Shanghai warehouses has gained by 49.5 percent. LME three month Aluminium prices were trading at $ 1838 per tonne on Thursday, up by $ 10...
The biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 5.0 percent decline. This comes on the heels of a 0.8 percent increase the week before. Following a 0.8 percent increase in the week prior, the primary aluminum cash price fell 4.4 percent on the LME last week to $1,788 per metric ton. The aluminum 3-month price fell 3.8 percent on the LME to $1,828 per metric ton after rising 0.7 percent the week before. Chinese aluminum prices were mixed for the week. Following a 0.4 percent increase in the week prior, the Chinese aluminum cash price fell 0.4 percent last week. The price of Chinese aluminum billet fell 0.3 percent after rising 0.3 percent the week before. Chinese aluminum bar remained unchanged for the week. European 1050 aluminum...
Rio Tinto Ltd boss Sam Walsh says more jobs will be shed in Australia as the global miner continues to make $US5 billion in savings by the end of 2014. Three months after the company announced its first full-year net loss of almost $US3 billion; Mr Walsh confirmed more local job cuts were on the cards. "There will be reductions," Mr Walsh told the Financial Review Sunday program. "This is not easy. This is a process that is very tough, but we need to get on top of our costs." He said the energy and aluminium businesses were both going through very tough times and the company needed to have competitive businesses. Mr Walsh was unable to specify how many jobs would be cut, following recent staff reductions at Rio's Sydney, Melbourne and London offices. "We don't have targets for reductions...
Shares in Shandong Nanshan Aluminum, one of China’s largest non-government-controlled makers of aluminum products, on Friday bounced back from a three-and-a-half year closing low on hopes that China’s economic growth will pick up later this year. The company fell on Thursday after it said net profit dropped by 52% in the first quarter from a year earlier to 91 million yuan, or $15 million. Revenue was little changed at 3.4 billion yuan. China’s biggest aluminum producer, Chalco, whose shares trade in Hong Kong, New York and the mainland, reported a loss of 988 million yuan at the end of last month on inventory write-downs and lower prices. China in recent years has emerged as a key global market and supplier of aluminum products. Nanshan’s main shareholder Song Zuowen ranked No. 882 on...
Muhana bin Saif al Lamki, Governor of North Al Batinah, Walis and other government officials visited Sohar Aluminium and interacted with employees recently at an invitation from Said al Masoudi, Acting CEO of Sohar Aluminium. The employees appreciated this initiative and praised the company's working atmosphere and infrastructure. The dignitaries familiarised themselves with the entire process of manufacturing aluminium during their visit to Carbon Plant, Reduction Pot and Cast House. This also provided the dignitaries with an insight into the excellent level of safety measures provided at the work place. Al Masoudi said that “Safety of our workforce is the essence of Sohar Aluminium’s operations. We believe that our employees are our greatest asset and thus we all strive to ensure the...
NALCO may have to cut its daily aluminium output by 25 percent due to coal supply shortages caused by an accident at a mine that supplies fuel to the state-run aluminium producer, a company director said on Sunday. The company has received just 10,000 tonnes of coal a day for the past 10 days from Mahanadi Coalfields Ltd, a unit of state-run miner Coal India, against a daily operating requirement of about 16,000 tonnes. Supply disruptions started when operations at the Bharatpur mine in Odisha were shut after an accident on April 21 in which one worker was killed. Authorities have suspended operations at the mine indefinitely, declaring it unsafe. "We don't know when the full supply will resume. We have no other option but to cut production," S.S.Mohapatra, production director at NALCO,...
It was announced last Friday that the US April non-farm employment increased more than expected by 165,000 and unemployment rate fell to the lowest in four years at 7.5%. These positive data offset the decline in March factory orders and worse-than-expected April ISM non-manufacturing index in the US. Short-covering and long buying sent LME aluminum above the 20-day moving average. Finally, LME aluminum closed at an intraday high of USD 1,889.8/mt, up 3.75%. Latest LME aluminum inventories increased 4,125 mt to 5,167,775 mt. LME market is closed today for the UK Bank holiday. Aluminum prices in China are expected to follow LME aluminum up on Monday. SHFE 1308 aluminum contract should open higher at RMB 14,700/mt and move within a RMB 14,650-14,750/mt range. In spot market, rising aluminum...
The future of the troubled Point Henry aluminium smelter in Geelong is back under a cloud after its American owners Alcoa revealed it was considering deep production cuts worldwide. The smelter, which employs about 500 workers, has been struggling under plunging global aluminium prices and a high Australian dollar. Alcoa had considered shutting the smelter down last year before it received a $40 million bailout package from both the federal and state governments. A condition of the package was for Alcoa to keep the plant open until at least mid-2014, as it worked on restructuring its operations. But Alcoa on Wednesday said with aluminium prices falling more than 33 per cent since its 2011 peak, it was reviewing its global operations and would look to cut 460,000 metric tons – or about 11...
Data from the China Nonferrous Metals Industry Association show that China’s alumina output hit nearly 3.5 million mt during March, up 12.36% YoY. YTD output through March amounted to 9.09 million mt, also up 13.88% YoY. Increased alumina output from the commissioning of new capacity during 1Q contributed to the growing alumina supply in China. According to the CNIA, China produced 1.73 million mt of aluminum during March, up 10.87% YoY. Some aluminum smelters cut production to minimize losses from continuously falling aluminum prices during 1Q. SMM estimates that the number of aluminum producers suffering cash losses in March accounted for nearly 40% of total aluminum capacity. However, aluminum output did not fall off sharply despite production cuts, since new aluminum capacity is still...
Reliance Steel & Aluminum had its price target lowered by Cowen from $89.00 to $75.00 in a research report sent to investors on Tuesday morning, StockRatingsNetwork reports. The firm currently has a buy rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Reliance Steel & Aluminum presently has an average rating of Buy and an average target price of $71.88. Shares of Reliance Steel & Aluminum traded up 1.17% during mid-day trading on Tuesday, hitting $64.05. Reliance Steel & Aluminum has a 52 week low of $44.81 and a 52 week high of $72.90. The stock’s 50-day moving average is currently $67.85. The company has a market cap of $4.909 billion and a P/E ratio of 12.98. The company also recently announced a...
Supported by a firming trend overseas and domestic demand, aluminium futures prices on Friday recovered by 1.37 per cent to INR 99.70 per kg as speculators created positions. At the Multi Commodity Exchange, aluminium for delivery in June edged higher by INR 1.35, or 1.37 per cent, to INR 99.70 per kg in business turnover of 83 lots. Similarly, the metal for delivery in May traded higher by INR 1.30, or 1.34 per cent, to INR 98.60 per kg in 1,012 lots. Market analysts said reports of a firming trend in copper and other base metals at the LME after the European Central Bank reduced interest rates to a record and US filings for unemployment benefit fell to a five-year low, boosting the outlook for demand, helped aluminium prices to rise at futures trade here.
The cash price of primary Indian aluminum saw a 3.1 percent drop on Wednesday, May 1, making it the biggest mover of the day. On the LME, the aluminum 3-month price rose 0.3 percent to $1,886 per metric ton. Also on the LME, the primary aluminum cash price held steady around $1,846 per metric ton. Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap was unchanged. Chinese aluminum billet held its value on Wednesday. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row. The cash price of Chinese aluminum held steady.
Cowen upgraded shares of Century Aluminum Company from a hold rating to a buy rating in a report released on Tuesday. Cowen currently has $13.00 target price on the stock. “Century Aluminum announced a tentative agreement with Kenergy Corp and Big Rivers Electric Corp on the framework of a new power contract that would provide the company’s Hawesville smelter with market-priced power. Should the agreement be finalized, the new contract would become effective on Aug 20. Management estimates that the delta between the old rate and market pricing is roughly $225/mt (which equates to roughly $56 MM annually), and that the implied savings would make the facility profitable on an operating basis even at currently depressed LME levels.,” the firm’s analyst commented. Century Aluminum Company...
Business Spectators reported that aluminium is the metal that missed the commodities boom and caught the bust. Alcoa’s announcement overnight that it was considering mothballing or cutting another 11% of its global smelting capacity is further evidence of the industry’s struggle to come to terms with the structural changes in the sector. Alcoa, which produces about 10 per cent of the world’s raw aluminium, already has about 568,000 tonnes of capacity idled so if the latest review does lead to the removal of another 460,000 tonnes nearly a quarter of its capacity will have been withdrawn from the market. It is also considering cuts to its alumina production which could have implications for its local alumina JV partner, Alumina. The announcement of the review and its likely conclusions...
