Since late September, LME aluminium prices ended their previous trend of fluctuating at highs and underwent a notable pullback around China’s National Day holiday. The LME spot aluminium settlement price fell from USD 3,248.5 per tonne on September 28 to USD 3,204 per tonne on September 30, with the decline accelerating further in October. It dropped USD 84 per tonne in a single day on October 1 to USD 3,120 per tonne, and fell further to USD 3,109.5 per tonne on October 2. As of October 5, the LME spot aluminium settlement price had declined to USD 3,107 per tonne, a cumulative drop of USD 141.5 per tonne from September 28, or about 4.36per cent. Compared with the previous staged high of around USD 3,350 per tonne, the cumulative pullback exceeded USD 240 per tonne, a decline of about...
Egypt Aluminum stock closed lower on the Egyptian Exchange on October 7, 2026, with shares ending at EGP 339.40 (USD 6.48), down 1.17 per cent from EGP 343.41 (USD 6.55) in the previous session. The stock was 14.08 per cent below its 52-week high of EGP 395.00 (USD 7.54) and 107.53 per cent above its 52-week low of EGP 163.66 (USD 3.12). The company had a market capitalisation of EGP 140.0 billion (USD 2.67 billion). During the session, Egypt Aluminum shares traded between EGP 334.73 (USD 6.39) and EGP 344.99 (USD 6.59), with trading volume at around 307,000 shares, above the stock’s three-month average. The October 7 movement came after Egypt Aluminum reported its fiscal 2026 results on September 20, providing the market with a view of the company’s profitability for the year ended June...
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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...
Bell Bay Aluminium, like other exporters, seeks new international freight shipping service from Bell Bay but the company will have to wait at least until August to see if they have government support for the initiative. A spokesman for state Infrastructure Minister David O'Byrne said that long-awaited consultants' reports on Bass Strait freight would go first to the government-appointed Freight Logistics Co-ordination Team for review. A Bell Bay industry group of exporters was set up to respond to the crisis after they were forced to re-direct their goods out of Tasmania via North-West ports at considerable extra cost. Bell Bay Aluminium negotiated with Swire Shipping earlier this year to collect some freight from the Bell Bay port on a short-term contract to help offset the loss of the...
Alba announces the successful completion of the Pot Lines 1 and 2 Rectiformer Replacement project- considered to be one of the first brown field projects of this magnitude anywhere in the world- that was completed with over 1 million work hours without a single Lost Time Injury (LTI). Alba announces that project objectives were accomplished without major interruptions to production from pot lines 1 and 2. Alba’s commitment to boost productivity, increase capacity and enhance reliability of Pot Lines 1 and 2 were bolstered with the successful completion of Pot Lines 1 and 2 Rectiformers Replacement - one of the first brown field projects of this magnitude anywhere in the world. The entire project was managed by Alba Power Project Department with their primary contractor Alstom Grid SAS,...
The Madras Aluminium Company Ltd (MALCO) a unit of Vedanta Group has arranged Loan Distribution Function for Women Self Help Groups in association with Kadayampatti Vattara Pengal Munnetra Nala Sangam (KVPMNS) on 29 June with help of NABARD Financial Services Limited. The gesture was made under the company’s Corporate Social Responsibility (CSR) program, which according to the company officials focuses on improving community welfare through various programs like education, health, infrastructure, women empowerment, livelihood and environment. As a part of its social initiatives, it has been underlining the empowerment of rural women, who live around the company. These women are united as one under the self-help groups (SHGs), where the company provides them various skill development...
According to China Customs, China exported 9,750 mt of anhydrous aluminum fluoride in May, a 101% surge YoY. YTD exports through May grew 38% YoY to 63,739 mt. The export FOB price of China’s anhydrous aluminum fluoride averaged USD 1,256/mt in May, down 15% YoY, due chiefly to falling fluorite and sulfuric acid prices. Besides, a growing number of Chinese producers have set their sights on overseas markets against severe overcapacity in domestic markets. This intensified competition in export markets, also sending export prices down. Anhydrous aluminum fluoride capacity will remain in surplus until new aluminum capacity in northwest China comes online. Persistently lackluster aluminum prices are undermining any potential towards a rally in anhydrous aluminum fluoride prices. This will...
Montenegro is in talks with unspecified lenders to secure funds to pay two banks owed 102 million euros ($132.96 million) by the country's loss-making aluminium smelter, the finance ministry said on Tuesday. Montenegro had guaranteed the debts of the Kombinat Aluminijuma Podgorica smelter and the banks - Hungary's OTP and Russia's VTB bank - have asked the government to pay up. The government had expected the banks to do this and last week revised its 2013 budget to secure extra borrowing. The smelter, which employs 1,200 people and accounted for 4.7 percent of the country's economic output last year, soaks up 3 million euros of state subsidies every month and lost 16.2 million euros in the first quarter of the year. The state has a 29 percent stake in the plant, as does Russian...
US and Canadian aluminum demand, defined as shipments by domestic producers and imports, reached an estimated 8.175 billion pounds in the first four months of 2013, 2% above that of the same period last year, according to preliminary estimates released Tuesday by the Aluminum Association. Demand for semi-fabricated (mill) products totaled 5.470 billion lb through April, rising 0.4% from a year ago. Apparent consumption - defined as demand less exports - in domestic markets totaled an estimated 6.813 billion lb, 0.5% above the same period of 2012. Exports of aluminum from the US and Canada (excluding cross-border trade) totaled 1.362 billion lb year to date, up 9.1% over a year ago, while aluminum imports totaled 1.413 billion lb, down 4.4% from last year. Demand for aluminum...
China Hongqiao Group Ltd. , China’s largest non-state aluminum producer, and competitors are boosting or maintaining output as the government seeks to trim capacity amid a global glut. China Hongqiao’s production will rise about 10 percent to 2 million metric tons this year, said Christine Wong, executive director secretary and head of investor relations. Xinfa Group and East Hope Group said they are not planning cuts. The companies are three of China’s five biggest aluminum makers. Their stance may hamper curtailment efforts by top global producers including Aluminum Corp. of China Ltd., United Co. Rusal and Alcoa Inc. who are cutting output to ease worldwide over supply. China’s Premier Li Keqiang wants to bring forward to the end of 2014 a target to eliminate outdated capacity in...
Alcoa Inc. has broken ground on an expanded, more modern aluminum plant in northern New York. Gov. Andrew Cuomo said Monday that Alcoa will spend $42 million to prepare for modernization and added capacity at its plant in Massena, near the Canadian border. Cuomo says the company will provide another $10 million to a development fund serving St. Lawrence, Franklin, Essex, Jefferson, Lewis, Hamilton, and Herkimer counties and on the Akwesasne (og-wuh-SAHZ'-nee) Mohawk Reservation. The plant will get 478 megawatts of low-cost power from the New York Power Authority as part of a deal intended to maintain at least 900 jobs. Alcoa, the largest private employer north of Syracuse, agreed in 2008 to spend at least $600 million upgrading operations in exchange for the hydropower.
Alcoa announced on 28 June that it has completed the previously announced early redemption of all of its 6.00% Notes due July 15, 2013 in the aggregate principal amount of $422,463,000. Holders of the Notes were paid $1,002.60 per $1,000.00 aggregate principal amount of the Notes plus accrued and unpaid interest up to, but not including, the redemption date.
