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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The state of Montenegro is seeking a financing solution for the country's loss-making aluminum foundry to bail Kombinat Aluminijuma Podgorica out of heavy debts, the Finance Ministry of Montenegro said. This could benefit Hungary's OTP Bank which, together with Russia's VTB Bank, has EUR 102 million in outstanding loans to the industrial plant. Kombinat Aluminijuma Podgorica has strategic importance for the Montenegrin economy, contributing nearly 5% of GDP. The company is making losses on a massive level and requires a monthly EUR 3 million in government subsidies to remain operational. Negative profit totaled EUR 16.2 million in Q1 2013. The state of Montenegro is a 29% sharehgolder, with another 29% stake held by Russian billionaire Oleg Deripaska. Approximately 40% is held by numerous...
The Middle East's aluminium sector is in an advantageous position and can play a key role in industry consolidation and the development of new globally active players, a new report by Boston Consulting Group (BCG) reveals. "The GCC aluminium market's cost advantage is supported by its proximity to Europe, Asia and Africa and growing aluminium demand from the construction, packaging, transportation and industrial sectors," said BCG partner and co-author of the report Thomas Bradtke. "We are seeing local players make strategic movements both upstream and downstream as they build viable value chains and further aluminium-driven manufacturing," he added. To re-ignite the value-creation engine and restore investor confidence, chief executives and their management teams can pursue aggressive...
Any major change to the electricity pricing regime for mining major BHP Billiton’s aluminium smelters in Richards Bay will have a severe impact on the smelters’ commercial viability and sustainability, which could cause significant job losses and, therefore, have a major impact on the South African economy, the mining company states. According to research done in 2012 by South African economic analysis and business modelling services consultancy Econometrix, the BHP Billiton Bayside and Hillside smelters jointly created 7 000 jobs in KwaZulu-Natal (KZN), primarily in the Richards Bay area, positively impacting on the livelihood of more than 33 000 people in northern KZN. The 2012 Econometrix report states: “The aluminium industry has given rise to a downstream industry. Sales to the...
Russian billionaire Oleg Deripaska has declined a bonus for 2012 and will use the money to buy shares for employees. Aluminium company Rusal says the $3m (£2m) bonus will be used to reward around 120 employees with shares. Mr Deripaska, who is worth $8.5bn (£5.5m) according to Forbes, has been chief executive of Rusal since 2009. The company said that the share award is a one-off programme, but if it was successful, awards to employees would increase through new schemes. Shares will mainly be awarded to employees working in Rusal's factories; both Russian and international production sites. The number to be purchased represents 0.05% of the total number of Rusal shares in issues.
Spot aluminium stockpiles fell for the 13th consecutive week in China as some producers delivered their output to State Reserve Bureau (SRB), according to a survey by Shanghai Metals Market (SMM). Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai, Wuxi, Nanhai and Hangzhou -- dropped to 875,000 tons this week. They were down 41,000 tons from a week ago, and compared to this year’s high of 1.3 million tons in the week of April 8. After China's SRB issued tenders to buy 300,000 tons of primary aluminium in March, producers that won the tenders did not complete making deliveries until mid-June, reducing free market supplies. At the same time, many producers increased processing rate of their primary output while some producers in China’s...
Taking weak cues from global markets, aluminium prices fell 0.51% to INR 107.25 per kg in futures trading on Thursday as speculators offloaded their positions. Further, sluggish demand in India's domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in July declined by INR 0.55, or 0.51%, to INR 107.25 per kg in business turnover of 201 lots. Similarly, aluminium for delivery in August traded lower by INR 0.50, or 0.46%, to INR 108.70 per kg in seven lots. Market analysts said the weakness in aluminium at futures trade was mostly in tandem with a downtrend in base metals at the London Metal Exchange and subdued spot demand.
Alcoa stock took a dive Wednesday after JPMorgan downgraded the barometer for market sentiment and made deep cuts to earnings estimates. Shares of Alcoa, which kicks off the second-quarter earnings season on Monday, fell 1% to $7.72. JPMorgan lowered its rating to Neutral from Overweight and lowered its price target to $9, looking ahead to December 2014. Its previous target was $12 through the end of 2013. “While global demand growth for aluminum continues to be solid, supply growth is outpacing it, which should continue to put pressures on prices. … outside of aluminum prices materially increasing or investor sentiment on the sector significantly improving, we see few catalysts for Alcoa’s stock in the near term.” JPMorgan slashed its estimate for second-quarter earnings to 4 cents per...
Malaysian Rating Corporation Bhd (MARC) has downgraded its rating on Press Metal Bhd's outstanding RM317.5mil loan stocks with warrants from A- to BBB. The ratings agency said on Wednesday the rating was placed on MARCWatch Negative pending greater clarity on the credit impact from the unexpected shutdown of Press Metal's aluminium smelting plant in Mukah, Sarawak, due to damage from the June 27 power outage. MARC said the rating downgrade on Press Metal's redeemable convertible secured loan stocks (RCSLS) with detachable warrants was based on company's weakened business and financial profile. It said this was mainly due to the recent sharp decline in aluminium price and impact of debt-financed expansion on its leverage in connection with its RM1.8bil aluminium smelting plant in Samalaju,...
SmarTrend identified a downtrend for Aluminum of China on 11 June, 2013 at $9.10. In approximately 3 weeks, Aluminum of China has returned 19.12% as of Wednesday’s recent price of $7.36. Aluminum of China share prices have moved between a 52-week high of $13.29 and a 52-week low of $7.25 and are now trading 2% above that low price at $7.37 per share. The 200-day and 50-day moving averages have moved 0.32% lower and 0.91% lower over the past week, respectively. Aluminum Corporation of China Limited is a producer of alumina and primary aluminum in China. The Company refines bauxite into alumina and smelts alumina to produce primary aluminum. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Aluminum...
AusGroup Limited subsidiary AGC Industries Pty Ltd a leading Australia based fabrication, construction and integrated services company to the oil and gas and resources sectors, has announced they have been awarded a three year plus three month extension on their calciner overhaul and maintenance contract with Alcoa of Australia Limited (Alcoa). The estimated value of this extension is AU$36 million over the period. The highly specialised work will be conducted for Alcoa's Western Australian calciners located at Kwinana, Pinjarra and Wagerup refineries. The initial scope of work covers calciner overhaul maintenance services including refractory, access, and mechanical trade work as well as general calciner repair work. Originally providing niche refractory services to Alcoa since 2007, AGC...
Rusal has contracted Brady Corporation, the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets, to manage its hedging book and risk management requirements for its aluminium sales. Rusal's requirement was to source a solution that could manage all of the risk resulting from its aluminium sales and provide its regional risk managers with a complete picture of its risk exposure and financial position in one place. On the new contract Brady chief executive Gavin Lavelle said,"Winning Rusal is an endorsement of our strategy to provide a specialist solution to the metals sector. We are delighted that Rusal recognizes this unprecedented market experience in the metals team at Brady and we are looking forward to assisting...
Expectations have dropped for Alcoa’s second quarter results in the month leading up to the company’s earnings announcement slated for Monday, July 8, 2013. The consensus analyst estimate has dropped from 12 cents a share to the current estimate of earnings of nine cents a share. Over the past three months, the consensus estimate has fallen from 17 cents. For the fiscal year, analysts are projecting earnings of 44 cents per share. For the year, revenue is expected to come in at $23 billion. Over the last four quarters, revenue has fallen an average of 6% year-over-year. The biggest drop came in the second quarter, when revenue fell 9% from the year-earlier quarter. Other competitors in the basic materials sector include: Aluminum Corp. of China Limited (ADR (ACH)), Kaiser Aluminum (KALU),...
General unsecured creditors of Ormet will share in a $2 million if Minnesota's Wayzata Investment Partners closes on its pending $282 million purchase of the bankrupt US aluminum producer at the end of July, according to a new bankruptcy court filing. The $2 million benefit for unsecured creditors is double the original amount suggested in an asset purchase agreement approved June 4 by a federal bankruptcy judge. The eventual benefit to unsecured creditors could be even higher if Ormet, currently in a "distressed" financial condition, returns to profitability, a source involved in the case said Wednesday. Under the settlement agreement filed this week with the US Bankruptcy Court for the District of Delaware by attorneys for Ormet and the unsecured creditors, warrants equal to 2.5% of the...
The World Bank has said that in the current context of load-shedding, it would be economically prudent decision for Government of Ghana to shut down the Volta Aluminum Company (VALCO), the state-owned aluminium smelter, and provide the power to other consumer segments that pay tariffs closer to the true cost of supply. In the bank’s estimation, VALCO’s continued operation has a “high economic cost” for the country and Government should stop the “hidden” power subsidy it gives VALCO, which harms the viability of power sector utilities. If, on the other hand, Government decides to keep VALCO, electricity consumers should not be expected to bear the additional cost-burden of the VALCO subsidy, the bank said in a new energy sector report. Dr. Kwabena Donkor, Chairman of Ghana's Parliamentary...
Reliance Steel & Aluminum Co. was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, ARN reports. They currently have a $60.00 price target on the stock. Zacks' price target would suggest a potential downside of 9.52% from the stock’s previous close. Reliance Steel & Aluminum Co. traded down 0.97% on Tuesday, hitting $65.67. Reliance Steel & Aluminum Co. has a 52-week low of $44.91 and a 52-week high of $72.90. The stock’s 50-day moving average is currently $66.02. The company has a market cap of $5.036 billion and a price-to-earnings ratio of 13.59. Reliance Steel & Aluminum Co. has set its Q2 guidance at $1.10-1.20 EPS. Analysts expect that Reliance Steel & Aluminum Co. will post $4.95 EPS for the current fiscal year. Several...
MCX Aluminium July contract traded at INR 109.20, up 1.35% on Wednesday. It opened at INR 108.20 and touched a high of INR 109.40. LME aluminum traded marginally lower tracking record high stocks at LME warehouses coupled with supply glut. Stocks at LME fell by 5,500 tons yesterday after hitting a record high level of 5.45 million tons on Monday. Commenting on the outlook, Kotak Commodity Services said, ''The downside may be capped amid higher cancelled warrants and news of supply cuts and lower production. Also lending support is rising spot premium due lack of availability of metal in physical market. Support for Aluminum July contract is seen at INR106 while resistance of INR109.5.''
Aluminium future prices yesterday rose by 0.74% to INR 108.55 per kg as speculators created positions on pick up in spot demand. However, a weak trend in the global market, limited the gains. At the Multi Commodity Exchange, aluminium prices for delivery in July traded INR 0.80, or 0.74%, higher at INR 108.55 per kg in business turnover of 1,341 lots. Similarly, aluminium prices for delivery in August traded higher by INR 0.75, or 0.69%, to INR 109.80 per kg in 67 lots. In the international market, aluminium prices fell 0.4% to $1,825.75 a tonne at the London Metal Exchange (LME). Market analysts said rising demand from consuming industries at domestic spot markets mainly influenced aluminium prices at futures trade. But metal's weakness at the LME, limited the gains.
Despite Press Metal Bhd’s (Press Metal) Mukah smelting plant being out of commission due to the blackout last week, analysts believe this will not leave much impact for the group in the long term period, partly mitigated by the ramping up of its Samalaju smelter. On Monday, Press Metal announced on Bursa Malaysia that its subsidiary, Press Metal Sarawak Sdn Bhd (Press Metal Ssarawak) suffered a sudden shutdown of its primary aluminium production lines at its Mukah smelting plant due to a major power outage that occured at approximately 5.40pm on June 27, 2013 in Sarawak. The power outage lasted for almost six hours, leading to a significant drop in temperature of the production pots. “Although power has been restored, Press Metal Sarawak was unable to resume metal production as...
