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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Aluminium Bahrain BSC (Alba)'s commitment to help employees beat the heat and work safely during the summer months was given a substantial boost with the official launch of the Health, Safety and Environment (HSE) Summer Week. Alba’s Chief Executive Tim Murray inaugurated the five-day event that begins June 30 and ends on July 4, 2013. Also present at the event were senior officials from Alba including members of Alba Labour Union and employees. The HSE Summer Week has been organised with the specific objective of fostering greater awareness on staying safe and healthy during the summer months as well as suggesting ways of remaining productive despite the challenges posed by the weather. The event will also highlight the need to integrate the three Zero Accident Principles into a broader...
Aluminium companies are likely to get a breather in the form of falling bauxite prices driven by the demand slump from China, says experts. Bauxite is usually exported from Gujarat to West Asia and China. However, recent slowdown in China and falling metal prices including aluminium, has led to a fall in imports from the major consumer, China. “We came to know that exports of bauxite from Gujarat has stopped in recent months as Chinese importers are cancelling their orders. This will help the domestic producers with cheaper bauxite ore,” a top official of Vedanta Aluminium told PTI. He also said due to Chinese buying of bauxite in higher prices from the country, the raw material prices have not dipped despite falling aluminium prices. Chinese import of bauxite from the country stands at...
The workers are putting all efforts to generate gains at the cash-strapped Tiwai Pt aluminium smelter which is reeling under huge financial losses. The latest to the efforts is the homegrown automated thermocouple to check the temperature of the molten aluminium in the furnace that saved the company $ 160,000, an effort that was recognized at the New Zealand Aluminium Smelters General Manager Innovation Awards. Starting in 2008, the event has been held three times a year and recognizes innovation on site. Categories included health and safety, teamwork and cost savings, with the latter more important than ever. The awards are given to staff who come up with ideas that were simple, quick, cheap and could be transferred elsewhere on site, he said. NZ Aluminium Smelters metal products...
Aditya Birla Group flagship Hindalco Industries has named Satish Pai as the next chief executive officer of its aluminium business in India, a senior company executive told ET. Pai, 51, executive vice-president at American oil field services major Schlumberger, will take up his new assignment from August 1, the executive said, adding that he will also be inducted on to the boards of Hindalco and its unit Novelis. “We have chosen Satish Pai for his ability to sustain in one company for a very long time and HIS global experience,” said Santrupt Misra, head of HR at Aditya Birla Group, a telecoms-to-cement conglomerate that owns Hindalco. “He has handled different functions in different parts of the world. This experience will come handy, as issues that are impacting are global. Our...
The Compliance Advisor Ombudsman (CAO) has found “shortcomings” in the International Finance Corporation's (IFC) management of a Mozambique aluminium smelter project between November 2010 and April 2011. In an April audit report, it criticised the IFC’s failure to ensure adequate monitoring by its partner, Mozal, which would have enabled “appropriate advance consultation with affected communities”. The IFC acknowledged the importance of the issues raised by the audit but asserted in the report that “staff took reasonable timely action consistent with its policies and procedures”.
National Aluminium Company (Nalco) has cut aluminium prices by around INR 4,000 per tonne for the month of July in line with London Metal Exchange (LME) prices to be effective from July 1. Other aluminium producers such as Hindalco and Balco usually follow the price trend set by the state-owned Nalco. While aluminium firms will witness pressure on margins due to softening of the white metal prices, auto manufacturers, real estate developers, aircraft manufacturers will witness improvement in their margins with their input costs going down, experts said. “We have reduced aluminium prices in line with LME prices. Although demand is there but aluminium is getting imported at a lower cost so we had to reduce the price,” a senior Nalco official told FC. In June, the company had increased...
Worries over liquidity crunch in China eased last Friday, which was the last trading day of the first half of the year. US economic data released last Friday night was mixed. Chicago reported that its PMI for June fell to 51.6, the biggest monthly decline in more than four years. On the other hand, the University of Michigan Consumer Sentiment Index was revised up to 84.1 in the final reading for June. The US dollar index was firm at 83 as a result, keeping commodity price in check. LME aluminum tested support at USD 1,770/mt, and found its high at USD 1,797/mt, but later gave back gains due to sell-off at highs. LME aluminum fell to near the 5-day moving average at the tail of the session, and finally closed up USD 2.8/mt or 0.16% at USD 1,775/mt. LME aluminum inventories were off 6,875...
The Montenegrin government said it has adopted a bill revising the country’s 2013 budget to cover 61 million euro ($79.5 million) in unpaid power bills of local aluminium smelter the Kombinat Aluminijuma Podgorica (KAP) aluminium smelter to Elektropirvreda Crne Gore (EPCG) electro power producer and retailer. The budget revision foresees additional government borrowing of 102 million euro for guarantees for KAP, Montenegrin finance minister Radoje Zugic said in a statement following a cabinet session on Thursday. The budget bill is now pending approval in parliament. KAP’s net loss widened to 16.2 million euro in the first quarter of 2013 from 6.9 million euro a year earlier. Montenegro’s budget deficit narrowed to 71.9 million euro in the first four months of 2013 from 84.7 million euro...
Alcoa is set to report second quarter earnings on July 8. Its second quarter earnings report follows some speculation in the market regarding aluminum prices and global industry demand. Analysts’ have a second quarter consensus estimate of $0.10 per share, $0.04 above the previous year’s second quarter report, indicating steady state growth occurring for the company. Alcoa’s first quarter earnings were on track coming in at $0.11 per share on target with analysts’ consensus estimate. First quarter top line revenue was down 1.7 percent in the first quarter from $5.9 billion to $5.8 billion. Net income was up 89 percent from the previous quarter at $121 million from $64 million, resulting in the earnings of $0.11 per share. While the first quarter report was positive for Alcoa some...
US-based aluminium major Alcoa on Friday announced it would permanently close its Fusina primary aluminium smelter, in Venice, Italy, where production had been curtailed since June 2010. The company said the planned closure would reduce its global smelting capacity of 4.2-million metric tons a year, by 44 000 t. The intended closure was in addition to the 460 000 t of operating smelting capacity that Alcoa in May announced was under review. “The underlying conditions that led Alcoa to curtail the Fusina smelter in 2010 have not fundamentally changed. Global aluminium prices remain weak and we must take action to maintain Alcoa’s competitiveness,” Alcoa global primary products president Bob Wilt said. Alcoa said it would work with affected communities to explore ways to redevelop the...
Alro Slatina has to pay this year 70 million US dollars in co-generation and green certificate fees, an amount that could be used to make two industrial companies, Chairman of the Administration Board of Alro Slatina aluminium maker Marian Nastase recently told Agerpres. “This is a burdening fee because we have to pay this year 23 million US dollars in cogeneration fees, plus 47 million US dollars in green certificate fees before the approval of the emergency ordinance concerning the establishment of a system for the promotion of energy from renewable sources. This makes 70 million US dollars, a huge amount that could be used to create two industrial factories,” said Nastase. He added that without the two fees, Alro would have no trouble. “We do not have the money to pay. Since we do not...
Calcined petroleum coke, a key raw material commodity in aluminum production, is at the center of a storm. The plans of many aluminum manufacturers and those in its ancillary aluminum manufacturing businesses are going awry because of the aluminum oversupply in the global market. One among those manufacturers is the India-based Rain Commodities Ltd. (RCOL), the world’s second-largest producer of calcined petroleum coke used to make aluminum. A few days ago, the company’s chief financial officer T. Srinivasa Rao told Bloomberg that his outfit would, in all probability, not be able to meet its stated goal of doubling net income by the end of 2013. Which means RCOL will miss its own profit forecast. Chalk that up to the slide in aluminum prices and, of course, the oversupply of the metal,...
Initial jobless claims in the US in the week ending June 22 fell to 346,000. Personal income in the US rose 0.5% in May, and personal spending also grew 0.3%. Pending sales of existing home jumped 6.7% in May, the highest since December 2006. These data signal sustained recovery in the US economy. On the other hand, investors are still worried about the possible scaling back of US debt-buying program and liquidity crunch in China. LME aluminum fell during the European session as longs and shorts exited the market at the month’s end, and finally closed down USD 0.8/mt or 0.04%% at USD 1,772.3/mt. LME aluminum inventories decreased 5,525 mt to 5,442,475 mt, and positions decreased 6,257 lots to 747,277 lots. Most investors will pull out of the market on the last trading day of the end of...
The London Metal Exchange (LME) is looking at new ways to solve problems in its controversial metals warehousing system as frustration builds among the exchange’s industrial users over supply bottlenecks, metals industry sources said. One option put forward for consideration is scrapping the minimum tonnage delivery out rate in favour of a percentage of warehouse inventories, industry sources say. Firms running warehouses registered by the LME, the world's biggest industrial metals marketplace, have been making money by building up big stocks and charging for storage while they deliver metal at a limited rate to holders of LME contracts. This has created tensions with consumers of the metals who say these storage plays have boosted prices for metal critical for their businesses. LME rules...
Arianne Phosphate Inc. appoints Brian Kenny as company's new CEO. Brian Kenny is a seasoned project development executive, having most recently overseen the development and completion of the 7B$ EMAL smelter project in Abu Dhabi and directed more than $10 billion in development projects in Saudi Arabia, Western Algeria, and Kazakhstan over 5 years with Dubai Aluminium Co Ltd. As Project Director, Brian managed all technical, legal, financial and environmental aspects of the projects. He also arranged project finance, negotiated project agreements, and coordinated with host country government ministries and local agencies. Prior to his experience with Dubal, Brian directed the design, development, construction, startup and operation of the $4 billion Koniambo nickel project over a 3-year...
MCX Aluminum dropped on Tuesday amid range bound movements seen in international markets. MCX Aluminum June contract is trading at INR 103.55, down 0.19% on Tuesday. It opened at INR 103.45 and touched a low of INR 103. LME Aluminium traded marginally lower on Tuesday after noting 1.2% decline Monday. Weighing on prices is record high stocks at LME warehouses coupled with supply glut. Stocks at LME rose by 6,375 tons yesterday hitting record high of 5.44 million tons after gaining by 2,14,125 tons last week. Commenting on the outlook, the broking firm Kotak Commodity Services said, "The downside may however be capped amid higher cancel warrants and news of supply cuts and lower production. As per Aluminum International Aluminium Institute report, production averaged 126,700 metric tons a...
The US Commerce Department announced that the final reading of US 1Q GDP was revised down to 1.8% from the preliminary reading of a 2.4% growth, fuelling worries over growth in the world’s largest economy. Downbeat data, however, also raised doubt over whether the US Federal Reserve will wind down debt-buying program before the end of this year. On the other hand, building permits in the US in May was revised up to -2.0% from -3.1%, suggesting recovery in the country’s housing market and providing support to the scaling back of monetary stimulus. Short-term liquidity crunch in China is weighing on market sentiment. As a result, the US dollar index rose, leaving commodity prices remaining at low levels. LME aluminum hovered near USD 1,778/mt during the European session, with support at USD...
Shares of Hindalco Industries moved higher in choppy trade as sentiment turned bullish in the counter after its subsidiary Novelis hiked price of painted aluminium sheet products in Europe. According to reports, the fabrication price will increase by 100 euro per ton for painted products and selected specialty sheet. “This price adjustment reflects the prevailing strong demand for aluminium painted products combined with increasing production costs,” said Erwin Mayr, Senior Vice President, Novelis and President, Novelis Europe. Hindalco has been gaining momentum as globally, things are looking charged up and incrementally, things are looking rather positive for aluminium as a cycle. The revival in US housing market and demand from the US aviation industry is expected to increase aluminium...
