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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Following a general improvement in volume during October, North American metals service centers’ deliveries of steel and aluminum declined significantly in November. The figures reported by the Metals Service Center Institute in its Monthly Activities Report showed double-digit declines for both metals in the U.S. and for steel shipments from Canadian centers. Overall, the November results portray a market wavering through the first 11 months of this year, with shipment totals rising and falling from month to month as service centers seek to find a rhythm between industrial demand and producer prices. MSCI is a trade association of service centers and metal processors across North America. It prepares the monthly summary of steel and aluminum shipments from data reported by member...
The London Metal Exchange will push ahead with proposed reforms to its warehousing policy, it said on Monday, and warehouses announced lower average rent increases than last year in response to the LME’s calls for restraint. The LME, the world’s largest marketplace for metals such as copper and aluminium, has come under regulatory and legal pressure to reform its oversight of the global network of warehouses – many owned by large banks and traders – where consumers can collect materials bought via the exchange. Some industrial companies complained that warehouse firms have let long queues develop to withdraw metal from warehouses, prolonging the time they have to pay rent for its storage and lifting the premiums consumers have to pay to obtain metal. The LME earlier this year proposed new...
Aluminium settled up at 111.35 rallied as signs of a strengthening US economic recovery prompted traders to buy industrial metals. Manufacturing in the U.S. continued to expand this month, a separate survey showed before data on Jan. 2. The nation ranked second globally after China among consumers of aluminum in 2012, according to researcher CRU. LME Aluminium prices to gradually rise next year to as high as $2,300 a tonne in the fourth quarter, on the back of strong demand in Asia and active financial deals. LME aluminium prices have lost almost 14% this year to trade close to $1,800 a tonne on Friday and Marubeni forecast they will be between $1,950-2,300 in the fourth quarter next year, moving up from an expected $1,750-1,950 range in the first quarter. Aiming to appease critics of its...
Tiwai Aluminium Smelter was halted this morning after a power went out to most of the site. After an 11kV cable failed at 5am, AC power on the site caused a systems fail. A spokeswoman for the smelter said power had now been restored. ''Power is now restored but staff are still trying to get some control systems up and running,'' she said. The most significantly affected area was Line 1, a pot reduction line. The spokeswoman said it was only for a short period and no permanent damage occurred. ''The professionalism of the team has show through,'' she said.
Noranda Aluminum Holding Corp. was a big mover last session, as the company saw its shares rise by nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend for the company, as the stock is now trading above the volatile price range of $2.33 and $2.85 in the past one-month time frame. This primary aluminum products manufacturer has seen 3 positives and 1 negative in terms of estimate revisions, in the last 2 months and its Zacks Consensus Estimate moved higher over the same time frame. This suggests the possibility of more solid trading ahead. So make sure to keep an eye on this stock going forward to see if Friday’s jump can turn into more strength down the road. Noranda Aluminum Holding currently...
Dubai Aluminium ("DUBAL") - which operates one of the world's largest single-site primary aluminium smelters - recently hosted a delegation from Centre of Waste Management ("CWM") Abu Dhabi, headed by Khaled Ahmed Al Faheem (Finance & Admin Manager). The purpose of the benchmarking visit was to discover more about DUBAL 's award-winning employee involvement programmes - specifically the DUBAL Employee Suggestion Scheme, which has delivered in excess of AED 172 million in savings since its inception in 1981. Established in December 2008, CWM Abu Dhabi is the lead agency responsible for controlling and coordinating waste management activities throughout the Emirate. This includes implementing Abu Dhabi's Waste Management Strategy and all aspects of service delivery required to establish a...
China will impose tiered power rates on aluminum smelters, starting on January 1, 2014, as part of its efforts to address severe overcapacity in the industry, Shanghai Metals Market has learned. Power tariffs for aluminum smelters will be based on the amount of power used in the previous year. Power tariffs will remain unchanged for smelters that use no more than 13,700 KWH of AC power for per ton aluminum liquid produced, while those that use between 13,700-13,800 KWH will be charged an additional 0.02 yuan per KWH. Smelters that consume more than 13,800 KWH for per ton aluminum liquid produced will be charged an additional 0.08 yuan per KWH, according to the Notice of Tiered Power Rates for Aluminum Smelters jointly released by the National Development & Reform Commission (NDRC) and...
Aluminum company Aldel in Delfzijl went bankrupt. 300 Dutch employees will lose their jobs. In addition, 250 people with temporary contracts and 300 people with supply companies will be laid off.In the past few weeks the company has been unable to find funders for the current operating deficit of an estimated 24 million euros. The owner of the company, the American Gary Klesch, will not pay for the shortfall. Aldel has been struggling for years. In September, the company sounded the alarm about the high electricity bill, allowing competitors to operate much cheaper in Germany. A bridging loan of 8 million euros was provided in consultation with Minister Kamp of Economic Affairs and the province of Groningen, more or less assuring the survival of the company until the end of this year. In...
Aluminium touched its highest level in nearly two months on Monday as consumer buying boosted the market in thin conditions. Three-month aluminium on the London Metal Exchange (LME) climbed to a session peak of $1,839 a tonne, the strongest since Nov. 4, before paring gains. It closed at $1,822, up 0.7 percent. "I think there was some consumer buying," said Gianclaudio Torlizzi, partner at T-Commodity, saying low liquidity during the holiday period exaggerated the gains. Aluminium also broke above its 100-day moving average, a bullish sign for investors who watch signals based on chart patterns. It remained on track for a 12 percent loss this year, however. "I see the metals as vulnerable to selling when traders come back to work. Every spike is a good selling opportunity in my view,"...
Jiaozuo Wanfang Aluminium Manufacturing Co. plans to pay 389.3 million yuan ($63.6 million) to buy a 20% interest in China Rare Metals and Rare Earth Co., part of Aluminum Corporation of China (CHINALCO). Jiaozuo Wanfang, which itself is a subsidiary of Aluminum Corporation of China Ltd. (Chalco), would make the payment to Chinalco’s rare earth and metals unit from self-raised fund, it told Shenzhen Stock Exchange over the weekend. The payment represents a 25.2% premium over assessed value of the equity stake as Jiaozuo Wanfang believes the unit’s rare earth, tungsten and tin businesses have great potential, it said in a statement.
Hindalco Industries Ltd, caught in a weak global aluminium cycle, is facing headwinds in domestic operations. While commissioning of long-awaited Greenfield capacities (Utkal refinery and Mahan smelter) will aid volume growth, lack of captive coal and high capex costs will lead to losses. We remain cautious on Mahan coal block timelines with downside risk if clearances get delayed further. At Novelis, benefits of volume expansion are back-ended and continued pressure on ‘scrap less LME’ prices will arrest margin expansion. Given weak operating cash flows, balance sheet health is unlikely to improve even as capex intensity starts tapering FY16 onwards. We maintain ‘underperformer’ with a 12-month price target of R89. While commissioning of Mahan coal block would mitigate the losses, we see...
Aluminium futures prices rose by 0.14% to INR 109.70 per kg today as speculators covered up their short positions on rising demand in spot markets even as metal weakened in the global markets. At the Multi Commodity Exchange, aluminium for delivery in current month up by 15 paise, or 0.14%, to INR 109.70 per kg, with a business turnover of 27 lots. Similarly, the metal for delivery in January contracts traded 10 paise, or 0.09%, higher at INR 111.25 per kg, with a business turnover of 7 lots. Marketmen said covering-up of short position by speculators following a pick up in demand in spot markets and ending monthly settlement, helped aluminium futures to trade higher despite metal's weakness in the global market.
Aluminum may extend declines to as low as $1,600 a metric ton in the first half of 2014 as new rules from the London Metal Exchange make more metal available, said analyst Helen Lau of UOB Kay Hian Ltd. Warehouses listed with the world’s largest metals bourse will have to release more of the commodity than they take in from April 1, the LME said last month after consumer complaints on waiting times and probes by U.S. regulators. Prices will be depressed regardless of whether the stockpiles go directly to users or shift to non-LME warehouses, Lau said. Aluminum, used in everything from cars and airplanes to beer cans, dropped 14 percent this year after trading at the lowest in more than four years on Dec. 2. While LME-tracked inventories climbed to a record 5.5 million metric tons in July,...
The United Steelworkers hosted a media call Friday to provide an update on its efforts to reopen the Ormet Corp. aluminum smelter in Hannibal, Ohio, and clear up any misinformation. On Dec. 19, Ormet held an auction to sell off some of its equipment and raw materials at the facility to pay back creditors, but David McCall, USW District 1 director, said the plant is in stable condition and still at a point where it can be saved. Ormet, once the fourth largest aluminum manufacturer, filed for Chapter 11 bankruptcy protection Feb. 25 for what the company said was "historically low metal prices and exceedingly high and uncontrollable power costs." About 1,000 jobs are affected by the plant's closure. There has been criticism that Ormet and the union have not done enough, but McCall said they...
New Zealand Aluminium Smelters general manager Gretta Stephens says she is making some headway on returning the Tiwai Pt aluminium smelter to viability, but admits it is proving to be a tough task. Her aim is to ensure the smelter is on a solid footing and back in the black. An improvement plan to deliver an extra $20 million of value to the smelter was now in place and would come from additional revenue and cost savings, she said. Changes to the revenue would come after the smelter changed the mix of products it sold - it would now be concentrating on making the most valuable products. Cost savings would be made in several areas, one of which was external freight costs. It had been a difficult year for the experienced and long-term workforce, which, despite the uncertainty, continued to...
National Aluminium Company (Nalco), a navratna PSU under Union mines ministry has got excellent MoU (memorandum of understanding) score of 1.5 by the department of public enterprises. The score is in recognition of Nalco's sterling performance in 2021-13. The aluminium major had last achieved the excellent MoU score in 2006-07. Nalco has also been rated 'excellent' with a score of 97.5 for its compliance with the guidelines on corporate governance for Central PSUs. During 2012-13, Nalco posted its highest ever net sales of Rs 7247 crore, 2.46 per cent more than the target of Rs 7073 crore envisaged in the MoU.The company also turned a net profit of Rs 593 crore with aluminium sale of 403,102 tonne and alumina sale of 984,722 tonne. Nalco reported the highest ever bauxite production of...
Aluminium Corporation of China (Chalco) listed a 60% interest in an alloy-making subsidiary on Shanghai United Assets and Equity Exchange (SUAEE) to transfer for 119.58 million yuan ($19.55 million). Chalco listed its stake in the Foshan, Guangdong province-based Chalco Nanhai Alloy Co. on the SUAEE on Dec. 20 and would keep the information till Jan. 20, 2014, according to the exchange data. China's largest alumnium maker has been disposing of fabrication segments over the past couple of years to focus more on the upstream sectors.
Aluminium settled up 2.86% at 109.55 prices rose to their highest in more than four months on Friday, lifted by a weak dollar, tightening supplies and expectations that economic recovery in top consumer China will help boost demand for industrial metals next year. China's economic growth is likely to come in at 7.6 percent this year, according to a cabinet report cited by the official Xinhua news agency, just above the government's target of 7.5 percent and slightly below last year's 7.7 percent. Its industrial output is likely to grow by about 9.8 percent in 2013, the Ministry of Industry and Information Technology said on Friday. LME Aluminium was the biggest percentage gainer, surging 3.1 percent to $1,810 a tonne. As support seen after news that Indonesia will provide exemptions to...
