Ma’aden’s aluminium business delivered strong revenue growth in Q2 2026 as higher realised prices lifted the segment, although weaker phosphate and ammonia guidance creates a mixed operating backdrop. Saudi Arabian Mining Company (Ma’aden) saw aluminium revenue rise 49 per cent year on year to USD 1.01 billion in Q2 2026, with realised aluminium prices increasing 51 per cent to USD 3,915 per tonne. Read more about Maaden aluminium revenue jump in Q2 2026 The stronger aluminium performance provides the clearest quantified growth signal in Ma’aden’s latest operating picture. However, revised production guidance for phosphate and ammonia adds a counterweight as investors assess the company’s broader portfolio. Higher aluminium prices drive revenue growth The aluminium division produced...
Precimeter just unveiled LynCor at ALUMINIUM 2026. This is our new hardware and software platform for automated molten metal level control. Along with the platform we unveiled the first product in the series, LynCor ProH laser camera sensor. Together the platform and the laser camera sensor marks the next step in our development of more connected, reliable and efficient casthouse automation. Laser camera sensors have been at the core of our business since 1995. Over three decades, we have seen how heat, slag, metal splashes and limited process visibility challenge casting operations. When maintenance interrupts production or a process issue leaves no recorded evidence, the consequences extend beyond the sensor itself. LynCor brings measurement, connectivity and diagnostics together to...
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Veteran aluminum trader Josef Bermann has sold his stake in JB Commodities AG, severing ties with the base metals merchant firm he set up almost ten years ago after leaving Glencore, the company said. Bermann is no longer associated with JB Commodities AG and JB Commodities (Overseas) Ltd, the company's chief financial officer Jose Kahn said in a letter seen by Reuters. To reflect the ownership change, JB Commodities has been renamed Bluequest Resources AG and business continues as normal, Kahn said in his letter, dated July 18. Bermann, who had been chairman and shareholder of the company based in Zug, Switzerland, left this week, traders said. It was not clear to whom he sold his stake and no financial details of the transaction were available. The company did not return calls for...
Ansuman Das, who was holding the additional charge of chairman-cum-managing director (CMD) of National Aluminium Company Limited (Nalco), took over as full-time CMD of the company on Friday. Das graduated in mechanical engineering from REC, Rourkela (now NIT) in 1976, and did his MBA from University of Hull, UK, with a British Council scholarship under the Colombo Plan. He began his career with the HAL and joined Nalco in 1982 in the formative years as a senior engineer in project and technical (P&T) services. Das has worked in various capacities in Nalco and was later appointed as general manager (marketing). He was instrumental in formation of various marketing policies and strategies both for domestic and overseas sales. Nalco has achieved several milestones and accolades through his...
The government appears willing to take any risk in its bid to take over PT Indonesia Asahan Aluminum (Inalum) from Nippon Asahan Aluminum (NAA), including the Japanese consortium’s possible use of a third party for settlement. Industry Minister MS Hidayat said recently that the Indonesian government would be ready should Japan decide to take the matter to the arbitration court. “In principle, we are ready to go there [arbitration court] since that is the last option in the legal process,” he said. The minister said, however, that the government would keep discussing the matter with Japan thoroughly, adding that the two sides still had three months and a week to discuss the matter before the company’s contract expired. Separately, Deputy Energy and Mineral Resources Minister Susilo...
Norsk Hydro ASA, Europe’s third-largest aluminum maker, will maintain production volumes as it closes in on a cost-reduction target and global oversupply of the lightweight metal eases. “We have no plans to cut additional capacity at the moment,” Chief Executive Officer Svein Richard Brandtzaeg said in an interview in London today. “We will reach the target of cutting $300 a ton from the cost of aluminum production at the end of the year and will further focus on cost reduction.” Hydro, competing with United Co. Rusal and Rio Tinto Alcan Inc., has shut capacity after aluminum prices slid about 35 percent from a May 2011 peak. Oslo-based Hydro last year cut 180,000 metric tons of aluminum capacity after shutting its Kurri Kurri smelter in Australia. Falling global output, with Alcoa Inc....
The US dollar index fell following Fed Chairman Bernanke’s announcement that any decision to scale back bond-buying program will depend on how labor market and economy perform, buoying commodity prices. LME aluminum held stable at USD 1,800/mt during the early European session, and later broke through resistance at the 30-day moving average due to short-covering. Finally, LME aluminum ended the day up USD 21/mt or 1.16% at USD 1,825.5/mt. Positions decreased 4,456 lots to 740,728 lots. LME aluminum inventories were down 1,825 mt to 5,477,725 mt. A softer US dollar will lend support to aluminum prices . LME aluminum will hover near USD 1,830/mt and move within USD 1,810-1,850/mt on Monday. SHFE 1310 aluminum contract is expected to open higher at RMB 14,350/mt, with prices between RMB...
LME aluminium may edge up to its Wednesday high of $1,827 per tonne, as it seems to have found strong support at $1,794. A wave pattern indicates the formation of a flat, which will consist of three waves roughly equal in length. Labelled c, the current wave may approach the peak of the starting point of the wave at $1,827. The presumed flat may also turn out to be a triangle, which will have a shorter wave c, peaking at a lower level than $1,827. A break below $1,794 will make the target at $1,780 available, which is the 76.4 percent Fibonacci retracement on the rise from the June 27 low of $1,758 to the July 12 high of $1,851.25. 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...
US aluminium producer Alcoa has promoted global primary products (GPP) CFO Roy Harvey to COO for the company's business effective immediately, where he would focus on the day-to-day operations of Alcoa's 22 aluminium smelters and nine alumina refineries worldwide, as well as bauxite assets in Australia, Brazil, Jamaica, Suriname, Guinea and soon Saudi Arabia. Leigh Ann Fisher, who had been group controller for GPP, would succeed Harvey, who also is a member of Alcoa’s executive council, and, Fisher would also become a member of the executive council. "Roy has an impressive international track record, leading complex operations in Brazil, Spain and Central America. As an experienced CFO Roy has acute financial expertise and operational insight. “And his investor relations background gives...
Norsk Hydro's part-owned aluminium smelter in Slovakia, Slovalco, has signed a Letter of Intent (LoI) for power supply with Slovenské Elektrárne. The LoI covers electricity supply over an eight-year period from January 1, 2014, with a total delivery of 19 terawatt hours (TWh). Since entering into the existing power contract with Slovenské Elektrárne 20 years ago, power prices in Slovakia have increased. Slovalco will continue to focus on strengthening its competitiveness through efficiency measures and cost improvements, while in parallel working to achieve a competitive future power supply. The LoI is a first move towards securing the total framework that will enable continued operations at Slovalco. Securing other elements in the power framework will also be important in the process...
BHP Billiton has come out with its production report till the period ending June 2013. The report showed that Aluminium production was up by 2 percent to 1.2 million tonnes from January-June 2013. For the quarter ending June the production was up by 25 percent to 310000 tonnes. Production benefited from strong operating performance at our Southern African smelters during the June 2013 quarter with Hillside (South Africa) achieving record quarterly production.
The London Metal Exchange's (LME) proposals to tackle the long queues that end-users face to obtain aluminium from warehouses is unlikely to resolve the problem, the chairman of the Japan Aluminium Association said on Wednesday. On a separate issue, Shigenori Yamauchi also said Japan does not need a new so-called national project, in which government and companies collaborate to secure aluminium supplies, once an existing contract with Indonesia expires in October. Companies running warehouses registered by the LME, the world's biggest industrial metals marketplace, have been making money by building up stocks and charging for storage, while they deliver metal at a limited rate to holders of LME contracts. Over the past four years manufacturers needing metal have also increasingly...
LME aluminium is expected to revisit its July 16 low of $1,793 per tonne, as a rebound from this level has completed. The rebound has been triggered by support at $1,794, the 61.8 percent Fibonacci retracement on the rise from the June 27 low of $1,758 to the July 12 high of $1,851.25. After failing to break resistance at $1,829, the 23.6 percent retracement, aluminium has resumed its preceding downtrend, which could be broken down into five smaller waves. Such a five-wave mode signals that a medium-term downtrend has established, which may eventually extend to $1,758. 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 regarding...
Norsk Hydro, one of the world's biggest aluminium makers, said it expected solid demand growth and weak prices this year as it reported a smaller-than-expected drop in April-June core earnings. Its primary metals unit outperformed expectations in the quarter, compensating for increasing losses in the Bauxite and Alumina division, that was hit by a power outage at its Brazilian Alunorte refinery in addition to low prices. Hydro repeated on Thursday that it sees global primary aluminium demand, excluding China, up by 2-4 percent his year, after hitting a low in 2012. Global aluminium production has continued to rise despite prices falling to levels not seen in four years. LME aluminium stayed below $2,000 per tonne during the second quarter. The Norwegian firm's underlying operating profit...
US service centers shipped 121,900 mt of aluminum products in June, down 5.4% from June 2012, the Metals Service Center Institute said Wednesday. Aluminum shipments in the first six months of the year totaled 739,000 million mt, 6.8% below the same period last year, MSCI said in a statement. Inventories of aluminum products hit 366,900 mt at the end of June, a decrease of 2.7% over June 2012. MSCI said that at the current shipping rate, this represents a 3-month supply in aluminum inventory, up slightly from 2.9 months a year ago. It said 12,900 mt of aluminum products were shipped by Canadian service centers in June, 4.8% below the same month last year. Canada's aluminum shipments in the first five months of 2013 were 79,900 mt, 4.2% below 2012. Canadian service center inventories of...
Despite landslides, equipment breakdown and wet weather, London-based mining giant Rio Tinto has been blessed with good news in the shape of increased output, not only from iron ore, but also aluminium in H1 2013. According to CEO Sam Walsh, who took over from Tom Albanese at the beginning of the year, the company's iron ore operations continue to be impressive and, surprise, surprise, aluminium production is showing promise too. The company's H1 2013 production figures for aluminium are up 7% when compared with last year. Rio Tinto plans to strip out $5 billion of costs from the global business by the end of 2014 – and this includes selling off (or parting company with) aluminium assets in Australia and New Zealand, badged as Pacific Aluminium.
Aluminium prices edged up by 0.62% to INR 105.85 per kg in futures trade today as participants enlarged their positions, supported by a firming overseas trend. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in July inched up by 65 paise, or 0.62%, to INR 105.85 per kg in business turnover of 647 lots. Likewise, the metal for delivery in August traded higher by 60 paise, or 0.60%, to INR 107.45 per kg in 94 lots. Marketmen said apart from increased domestic demand, a firming global trend helped aluminium futures to trade higher.
European stocks rose on Tuesday as investors took their cue from better-than-expected earnings from US aluminium giant Alcoa and after the eurozone released of billions of euros in fresh aid for Greece, dealers said. The optimism stayed high even as the International Monetary Fund slashed its global economic growth forecast, citing new downside risks in key emerging-market economies and a deeper recession in the eurozone. Meanwhile, economy and finance ministers from all 28 European Union countries gave the final green light to Latvia to join the eurozone from the start of 2014. In afternoon deals, London's FTSE 100 of leading companies advanced 1.04 percent to 6,516.87 points and Frankfurt's DAX 30 gained 1.32 percent to 8,074.07. In Paris, the CAC 40 increased 0.69 percent to 3,850.21...
Signals are mixed for LME aluminium, as it is not clear how high the current rebound could reach. The rebound followed the completion of a five-wave cycle around a support at $1,794, the 61.8 percent Fibonacci retracement on the rise from the June 27 low of $1,758 to the July 12 high of $1,851.25. Aluminium has paused around a resistance at $1,816 - the 38.2 percent retracement - a break above which will open the way towards $1,829, as the wave theory indicates that this rebound may stop at any level below $1,845, the presumed wave ii peak. 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 regarding the products mentioned in the...
Losses at China COSCO Holdings (1919) and Aluminum Corporation of China (2600) were the worst of the lot for the nation's 500 largest companies last year. The website of Fortune magazine's China edition yesterday released its latest list yesterday, ranking the 500 mainland firms according to revenue, which had to be at least 7.25 billion yuan (HK$9.06 billion). Of the 500, 46 turned in a net loss - double the number of companies in 2011. The news happened on the same day China COSCO announced that its chairman Wei Jiafu is retiring with immediate effect. The shipping giant has booked losses for the past three years in a row. Sinopec (0386) and PetroChina (0857) topped the scales in revenue terms. China State Construction Engineering replaced China Mobile (0941) in the third spot on the...
