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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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...
Aluminium settled down -0.88% at 106.50 on profit booking while outlook remain firm on growing confidence about the global economy, year-end covering and the prospect of purchases from China's state reserves. Strong U.S. economic data on Thursday and a bullish growth forecast for China, the world's No. 1 consumer, fuelled hopes about stronger demand for industrial metals. The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labor market. Initial claims for state unemployment benefits decreased 42,000 to a seasonally adjusted 338,000, the Labor Department said. Citing an improving labor market, the Federal Reserve last week said it would reduce its monthly $85 billion bond buying program by $10...
Aluminium Bahrain (Alba) welcomed a high-level delegation from the Indonesian Parliament, which is on a visit to the kingdom to further strengthen business relations and cultural ties between the countries. The eight-member delegation, led by Muhammad SohibulIman, Deputy Speaker of the Indonesian People’s Representative Council and Chilman Arisman, Indonesian Ambassador to Bahrain, was accompanied Bahrain's Member of Foreign Affairs, Defence and National Security from Council of Representatives MP Abdul Rahman Rashid Bumjaid. The Indonesian delegation aims to study the country’s investment potential, besides meeting Bahrain’s industry leaders, said Alba in a statement. The visiting delegates were given a tour of the smelter and shown the production processes, besides a presentation...
Global unwrought aluminium stocks totalled 1.133 million tonnes in November, up from a revised 1.098 million tonnes in October, data from the International Aluminium Institute showed on Friday. Unwrought aluminium stocks in November last year were 1.231 million tonnes, the data showed. Total aluminium stocks, or unwrought aluminium plus unprocessed scrap, metal in process and finished semi-fabricated products, were 2.172 million tonnes in November, up from a revised 2.148 million tonnes in October. In November last year total stocks were 2.245 million tonnes, the data showed.
The global aluminium production sector is becoming ever more polarised. China's national output of the light metal has risen by 3.36 million tonnes annualised since the first quarter of this year, while output in the rest of the world has contracted by 1.06 million tonnes over the same period. China is now within a whisker of producing half of the world's aluminium output. Average daily production in November was 65,130 tonnes, according to the China Nonferrous Metals Industry Association. Production in the rest of the world was 65,630 tonnes, according to the International Aluminium Institute (IAI). It may have already got to the 50 per cent mark. Both agencies include an estimate for unreported production and for China that is currently 200,000 tonnes per month, while for the rest of...
Saudi Arabian Mining Company (Ma'aden) has restarted one of the two potlines at its new aluminium smelter in Saudi Arabia, the company said on Sunday. The $10.8-billion aluminium plant at Ras al-Khair, a joint venture between Ma'aden and US-based Alcoa, shut one of its smelting lines in mid October due to problems encountered during a ramp up of production. "The ramp up and increase of the first potline production is expected to reach production capacity within the second quarter of 2014," Ma'aden said in a Saudi stock market statement. It did not say when production resumed. The other potline, a series of containers used to smelt aluminium, did not have to shut during its initial ramp up. The two lines have a combined production capacity of 740,000 tonnes a year of aluminium.
Industrial giant Dubai Aluminium (Dubal) has reinforced its commitment to making Dubai the 'hub' for all things golf by extending its support to the Omega Dubai Desert Classic‚ which celebrates its 25th anniversary early next year. Operating one of the world's largest single-site primary aluminium smelters, Dubal has been associated with this longest-running European Tour event in Asia and the Middle East, since its inception in 1989. Dubal’s renewed support underlines the company’s resolve to back community initiatives and the broader goals of the Dubai and UAE governments. World number one Tiger Woods, European number one Henrik Stenson and Northern Ireland’s Rory McIlory‚ among other past champions‚ will headline a stellar field for the 25th edition of the Omega Dubai Desert Classic at...
Subdued domestic demand due to a poor investment cycle, the coming general elections in India and important developments in the global markets are expected to keep the excitement out of metal companies for most of 2014, analysts and industry officials say. With general elections a few months away and inflation at an all-time high, very little can improve in the prevailing investment cycle, they said. Due to this, demand for ferrous and non-ferrous metals will remain dull next year. Shares of metal companies were on a roller-coaster ride in 2013 and most fell sharply in the June to August period, as the rupee plummeted, increasing their cost of production. Demand improvement in Europe and America from September have pushed up revenues, in turn helping companies recoup their losses to some...
LME aluminium may drop into a range of $1,639-$1,657 per tonne in three months, driven by a downward wave (c). This is the third wave of a bigger wave C that developed from the March 2, 2012 high of $2,361.50. A Fibonacci projection analysis reveals that the wave (c) has travelled below a support at $1,781, its 76.4 percent level, and is heading towards the next support at $1,657. In the meantime, a Fibonacci retracement analysis shows that the metal has fallen far below a support at $1,861, the 61.8 percent retracement on the rise from the Feb. 24, 2009 low of $1,279 to the May 3, 2011 high of $2,803. Chances are it may slide to the 76.4 percent level at $1,639. This is especially possible after aluminium broke the support at $1,781, as there might not be any other support until it...
Aluminium physical premiums have risen in Q4 due to weakness following the announcement of proposed new LME rules in July, said Barclays Capital in a research note. According to Barclays, they believe downward pressure will be reasserted once the new rules kick in from May 2014, counteracting the current delivery queue extension caused by a rush to off-warrant metal. After the LME proposed new warehousing rules in July this year, one immediate effect was for European and US Midwest aluminium physical premiums to fall close to 15% by September. As we highlighted in Base Metals Focus: Aluminium fundamentals turning a corner, the decline in premia helped catalyse a wave of supply rationing with the announcement of 1.4Mty of capacity closures. Providing some confusion for market participants,...
Shares of Alcoa Inc. rose around 1% during the trading session following the launch of a proprietary surface finishing technology, ProStrength. The technology will allow consumer electronics companies to use aerospace-grade aluminum to reduce the weight and thickness and increase the sturdiness of mobile devices. ProStrength Finishing Technology is a process that enables mobile device makers to design clear or color-anodized durable surfaces using high-strength, heat treatable aluminum alloys that are used in the aerospace and defense industries. Application of these alloys will reduce the thickness and weight of the device by over 50%. Customers usually purchase electronic devices based on the size, design and feel factor of the gadget. ProStrength’s anodized finish on aerospace-grade...
The London Metal Exchange (LME) said it will go ahead with planned changes to its warehousing policy aimed at addressing massive queues for metal despite top aluminium producer Rusal challenging the proposal. The LME proposed new rules to overhaul its delivery system from next April that would force warehouses to release more stocks once the waiting time breaches 50 days. The exchange said in November it was determined to press ahead with the changes. However, Russia’s United Company Rusal Plc has filed a judicial review, which seeks to challenge LME’s decision to introduce changes in its warehousing policy. LME was named as a defendant in the review filed by Rusal in the English High Court on Monday, according to a disclosure by Hong Kong Exchanges and Clearing Ltd (HKEx), which owns LME.
During a teleconference question and answer session with Pavlodar Olbast, President of Kazakhstan Nursultan Nazarbayev addressed the importance of developing the industrial sector in Kazakhstan. “Our industrialization has to follow the path towards processing the raw materials that we have. You are the pioneers of the processing. The is for you together with the Government to build the second plant with a capacity of 250 thousand tons of aluminum, similar to the one we already have,” the President said after resident of JSC Kazakhstan Electrolytic plant Almas Ibragimov reported that an aluminum plant with a capacity of 250 thousand tons per year had been built. The President nodded the start-up works in the anode unit of the plant. “$300 million was invested into this large scale project....
South Korean Public Procurement Service’s (PPS) latest aluminium tenders have inched close to $300 per tonne and the agency has decided to take delivery in five months instead of the usual three months. On Monday December 23, PPS bought 6,000 tonnes of aluminium and 3,000 tonnes of zinc. It will be taking delivery of these metals five months later in May. LG International won the tender to supply 2,000 tonnes of Indian-origin aluminium ingot at a premium of $294 per tonne over LME cash price. Dreample won the tender to sell 1,000 tonnes of Indian-origin aluminium ingot at a premium of $289 per tonne. It also won a separate tender to sell another 1,000 tonnes of western origin aluminium ingot at premium of $269 per tonne. Glencore won the tender for 2,000 tonnes of western-origin aluminium...
Sheffield businessman Mark Neville has backed calls for the Government to help to create thousands of new jobs by backing the development of the aluminium sector in the UK. Mr Neville, from Sheffield Business Park-based Siemens Metal Technologies, told a special briefing at the Houses of parliament: “The truth is the aluminium industry has the potential to create UK jobs – so investment in the sector is vital. “The Government needs to ensure this market is at the heart of its industrial strategy – and that this remains clearly connected to the UK automotive industry which is undergoing a great industrial revival now.” Siemens Metals Technologies is a global leader in the metals extraction and processing sectors, developing equipment for the mining, iron and steel making industries and the...
MUSCAT Oil and Gas Minister HE Mohammed Bin Hamad Al Rumhy recently paid a visit to Sohar Aluminium smelter site. Rumhy was taken on a tour of the plant to get an overview of the company’s world-class green field facility. He appreciated Sohar Aluminium’s pursuit for excellent working conditions and acknowledged safe and pleasant environment, an official release said. He was in Sohar for the inauguration of Oman Aluminium Rolling Company (OARC) Sohar Aluminium supplies molten aluminium to OARC. He was welcomed by Sohar Aluminium Board Chairman Mulham Al Jarf and Sohar Aluminium acting CEO Said Al Masoudi. Masoudi said: “Safety of our workforce is at the heart and is the essence of Sohar Aluminium’s operations. We believe that our employees are our greatest asset and thus, we all strive to...
Rusal, the aluminium producer controlled by oligarch Oleg Deripaska, is taking the London Metal Exchange to court, claiming a crackdown on the metals warehousing industry is a breach of its “human rights”. The lossmaking Russian company confirmed that it had filed a judicial review in the UK, demanding proposed rule changes by the LME are overturned. In response to barrage of criticism about queues of more than a year to withdraw metals from some of its registered warehouses, the LME announced a package of measures in November to tackle the backlog and combat abusive behaviour. Some consumers have alleged the delays have artificially pushed up prices and led to vast extra costs. But Rusal and other aluminium producers have reacted furiously to the proposed changes amid concerns they will...
Aluminium Bahrain B.S.C. (Alba) continues to add value to its customer services across regional and global markets by implementing superior customer technical support services and initiatives, which in turn boost the company's productivity. Alba's Metallurgy, Laboratory & Customer Technical Support Department has made substantial headways in its customer services by increasing its promptness to customer queries and has successfully established a proven 3-day response time for any customer query. Further enhancing its customer relations, the Department has initiated dedicated productivity workshops for its clients through which the company informs them on best practices to maximise results from Alba products at their own location. The team also offers customers assistance with trouble...
