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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Montenegrin Prime Minister Milo Djukanovic on Tuesday blamed parliament for stalling the rescue of the bankrupt Podgorica Aluminum Plant, KAP. Djukanovic said owing to the lack of cooperation between parliament, the state run Power Industry and the factory, the government had been forced to halt production in KAP. Djukanovic said there is still room for restructuring the plant. But for this to be achieved, MPs will have to agree on a way for the KAP to settle its debt towards the Power Industry. Opposition parties and the junior party in the government, the Social Democratic Party, have opposed a budget review that the governing Democratic Party of Socialists, DPS, is trying to pass in order to tackle the fiscal instability caused by the plant's debts. KAP's debt towards the Montenegrin...
Press Metal Bhd's aluminum smelting plant in Malaysian Borneo could stay shut for three to six months after a six-hour power outage on June 27, a company official. "We are assessing the impact," the official said on Wednesday. "We still have another plant (in Samalaju) up and running to meet customer orders." Press Metal Sarawak Sdn Bhd, a unit of Kuala Lumpur-listed Press Metal, suffered the sudden shutdown at its Mukah plant, which led to a significant drop in temperature in production pots, the company said in a local stock exchange filing early this month. The unexpected shutdown of the Mukah plant led Malaysian Rating Corp Bhd to downgrade Press Metal's outstanding RM317.5 million redeemable secured loan stocks with detachable warrants to BBB from A-. Press Metal's Mukah plant has a...
Contact Energy and state-owned Genesis Energy are the two power companies most at risk if the Tiwai Point aluminium smelter closes, says a senior Standard & Poors analyst, Richard Creed. In an interview televised on the Reuters Insider programme, Creed, who is S&P's director of corporate and infrastructure ratings in Australia, picked all the listed power companies in the New Zealand market as sources of stable dividend yields over coming years. That's because no new power stations will need to be built in the foreseeable future because of "flat to slightly declining demand" for electricity. Contact, Genesis, MightyRiverPower, and Meridian Energy are all rated BBB on stand-alone basis, but the early closure of the Rio Tinto-owned Tiwai Point smelter, which uses around one-seventh of the...
The struggling Bell Bay Aluminium smelter will cut 18 jobs as it continues to face "extremely challenging" market conditions. General manager Ray Mostogl said the decision followed a streamlining of work on site that had resulted in increased efficiencies and cost savings in the maintenance area. Six of the roles being reduced are currently vacant. Employees in affected positions will be offered other roles or redundancies. "Aluminium prices remain very low and we are working with employees, contractors and suppliers to identify efficiencies and cost savings to help make the smelter viable," he said. The cuts come despite the smelter achieving a record production level in 2012. The Bell Bay smelter is part of Pacific Aluminium group which has been put on the market by Rio Tinto. The...
The value of Middle East and North African mergers and acquisitions rose by 30 per cent to US$14.7 billion in the first half of the year, aided by the merger of two UAE aluminium producers. The $7.5bn merger of Emirates Aluminium (Emal) and Dubai Aluminium (Dubal), announced last month, helped the regional M&A market to enjoy its best first half since 2008, according to the investment banking analysis released by Thomson Reuters yesterday. "The UAE was the most active Middle Eastern country, being both the most targeted and the most acquisitive country in the region so far this year," said Russell Haworth, the managing director, Middle East & North Africa at Thomson Reuters. "India was the most popular target for outbound Middle Eastern M&A transactions, while the United States registered...
Aluminium Bahrain B.S.C. (Alba) remains committed to provide opportunities for young Bahrainis to gain a taste of professional life as the company announced the commencement of the month-long Alba Annual Summer Training Programme 2013 on Monday, July 8, 2013 The Alba Annual Summer Training Programme is aimed at providing high school graduates, university students and Bahrain Training Institute trainees along with children of Alba's employees the chance of working in Alba during their summer break. Alba's Acting Director for Administration, Abdul Rahman Janahi and Training & Recruitment Manager, Rawdha Salman Alaradi presided over the opening ceremony of the training programme. They were joined by other company officials at the event. Commenting on the start of the Alba Annual Summer...
Below are the three companies in the Aluminum industry with the highest forward price to earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.Noranda Aluminum ranks highest with a a forward P/E ratio of 35.64. Following is Century Aluminum with a a forward P/E ratio of 17.57. Kaiser Aluminum ranks third highest with a a forward P/E ratio of 13.85. Alcoa follows with a a forward P/E ratio of 11.71, and Alumina rounds out the top five with a a forward P/E ratio of 7.63. SmarTrend is tracking the current trend status for Alcoa and will alert subscribers who have AA in their portfolio or watchlist when shares have changed trend direction.
Alcoa announced today that it intends to permanently close its Fusina (Venice, Italy) primary aluminum smelter, which has been curtailed since June 2010. The planned closure will reduce Alcoa’s global smelting capacity of 4.2 million metric tons per year by 44,000 metric tons. The intended closure of Fusina’s 44,000 metric tons is in addition to the 460,000 metric tons of operating smelting capacity that Alcoa previously announced was under review. “The underlying conditions that led Alcoa to curtail the Fusina smelter in 2010 have not fundamentally changed,” said Alcoa Global Primary Products President Bob Wilt. “Global aluminum prices remain weak and we must take action to maintain Alcoa’s competitiveness.” Alcoa will work with affected communities to explore ways to redevelop the...
The Supreme Commercial Court has rejected an appeal by Rusal's Krasnoyarsk aluminum smelter on the rules of the wholesale energy market, a court representative told RAPSI on Friday. The applicant requested the court to invalidate two paragraphs of the wholesale energy market regulations. The regulations were approved by a government resolution on December 27, 2010 pursuant to the law on power generation and set out the operations rules for the wholesale energy market. Rusal Krasnoyarsk said in its application that it had entered into a power sale and purchase agreement with the Krasnoyarskaya hydroelectric power plant on the wholesale market. But since the regulations provided for a markup of energy prices, the Krasnoyarsk smelter had to pay an extra 914,8 million rubles ($28.1 million at...
The US dollar index rebounded last Friday following two days of declines, keeping LME aluminum in check. Investors pulled out of the market ahead of the release of China’s 2Q GDP, causing trading volumes to fall to around 10,000 lots. LME aluminum broke through the 30-day moving average to USD 1,851.3/mt, but fell back at the tail of the session to close at USD 1,839.3/mt, up USD 7.8/mt or 0.42%. LME aluminum inventories fell 5,675 mt to 5,411,425 mt, but positions increased 3,558 lots to 768,923 lots. The light metal will move within tight ranges ahead of the announcement of China’s 2Q GDP due today. LME aluminum should stagnate at USD 1,830/mt and move within USD 1,820-1,840/mt on Monday. SHFE 1310 aluminum contract will open flat at RMB 14,350/mt, with prices between RMB...
High production costs and a lower-than-expected economic recovery have led to a slower pace of aluminium output and under-performing light metal prices in China. The Chinese aluminium industry is in the process of shifting its production base to Western China where it will benefit from abundant coal resources and this, combined with a depressed global macroencomic situation, means that prices will remain weak. Shifting aluminium production to western China is due to a power crisis in China's central and eastern regions in 2009/2010. In the Xinjiang Uygur Autonomous Region of western China, a total of 10 large aluminium companies have invested in projects with a planned capacity of more than 15Mt. By the end of June 2013, actual aluminum capacity in Xinjiang reached about 3.3Mt, of which...
Japan's demand for aluminum extrusion for aging residential building repair is forecast to surge 57% in 2022 from the volume required in 2012, the country's Kenchiku Kaiso Kyokai or Building Repair Association said Friday. A boom in high-rise condominium construction in the early 1960s will result in the need to replace aluminum window frames and sliding doors peaking in 2022, when many buildings hit the 60-year mark, association secretary general Yoichiro Sazuka said in an interview with Platts. Sales of replacement aluminum window frames and sliding doors for established condominiums totaled Yen 47.7 billion ($477 million) in the fiscal year April 2012-March 2013, referred to in Japan as fiscal 2012, up 11.9% year on year. The figure does not include sales to new homes. The association...
German aluminum producer TRIMET is interested to purchase St. Jean-de-Maurienne aluminum smelter and Castelsarrasin casting facility in France, which are both owned by Rio Tinto Alcan. This was confirmed by Jacynthe Côté, CEO of Rio Tinto Alcan, who said they received a binding offer from TRIMET. However, he refrained from disclosing the details of the offer pending a meeting with the board and the regulatory agencies. St. Jean-de-Maurienne shipped out 93,000 tons of primary metal in 2012. During the same period, the Castelsarrassin also produced 8,000 tons of aluminum wire for mechanical applications, company disclosures state. Both companies employ a total of over 500 workers. Rio Tinto Alcan is seriously considering the binding offer since this is in line with the company's overall...
Chinese Premier Li Keqiang recently emphasized the importance of pro-growth policy and economic restructuring, triggering anticipating that the central government will introduce economic stimulus soon. Fed Chairman Bernanke said the Fed will not taper off monetary stimulus for the foreseeable future, boosting market sentiment. This triggered a selloff of US dollar, pushing commodity prices up. However, the US initial jobless claims in the week ending July 6 rose to 360,000, souring investor sentiment. This helped the US dollar fall at a slower pace, forcing commodity prices to give back gains. LME aluminum touched a high of USD 1,847/mt during the European session, but pulled back at the tail of the session. Finally, LME aluminum closed at USD 1,831.5/mt, up USD 13.5/mt or 0.74%. LME...
Jefferies Group restated their neutral rating on shares of Noranda Aluminum Holding Corp. in a report issued on Monday, StockRatingsNetwork.com reports. They currently have a $4.25 target price on the stock, down from their previous target price of $4.75. “We mark to market our 2Q13 estimates for NOR, with one-month lagged aluminum prices lower than expected at $0.84/lb (compared to $0.91/lb estimate), lowering our estimate to a loss of $0.08 from a profit of $0.01. This lowers our 2013E EPS to $0.06 from $0.13. Our forward estimates remain unchanged.,” the firm’s analyst commented. Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of Noranda Aluminum Holding Corp. from an equal weight rating to an underweight...
Iran has produced 89,300 tons of aluminium ingots in the first three months of the current Iranian calendar year which started on March 21, 2013. The volume of aluminium ingot production in the country over the third Iranian calendar month of Khordad (May 22-June 21) stood at 30,100 tons which showed a nine per cent growth compared to the corresponding period a year earlier, IRNA reported. The report added that Iran produced 61,900 tons of alumina powder during the same period. The number showed an 11 per cent increase compared to the same period last year. Iran needs to import 120,000 tons of aluminium ingots per year, IRNA quoted a member of the Iranian aluminium producers syndicate as saying. Shahen Markarian added that the annual output is projected to be increased to 910,000 tons by...
Dubai Aluminium, which owns and operates one of the world's largest aluminium smelters, has engaged Rockwell Automation and its Global Solutions team to provide a commercial pot-control system for its proprietary DX+ Technology, currently being installed in the Phase II expansion at Emirates Aluminium in Abu Dhabi. The system is a major part of a multi-million dollar project that will add 520,000 additional tonnes of capacity to EMAL's potlines, which convert alumina powder into molten aluminium. Once completed, EMAL will be one of the largest single-site aluminium smelters in the world, with a total production capacity of 1.3 million tonnes per year. "We needed a flexible, robust and scalable commercial solution. Rockwell Automation met our needs with its Logix-based architecture, and by...
As with many industrial market trends today, the overcapacity problem stems from China’s rapid economic expansion. According to London-based research firm CRU, China now has an installed aluminum production capacity of 28 million tons and is producing at a rate of 24 million tons per year. The Chinese government has been making some efforts to pull back production. However, Diana Kinch, a reporter for Dow Jones, wrote recently in The Wall Street Journal that, on net, the efforts are not reducing capacity because of contradictory incentives: “[China] continues to build new smelter capacity in Xinjiang in the country’s northwest, where abundant coal makes energy cheaper than in other provinces and some new smelters gain tax incentives.” As such, the pressure to cut capacity has fallen on...
