Century Aluminum’s proposed USD 4 billion primary aluminum smelter in Inola, Oklahoma, is “moving forward on all fronts” as the company prepares for construction, despite local opposition and legal challenges, CEO Jesse Gary said during the company’s third-quarter earnings call. Developed jointly by Century Aluminum and Emirates Global Aluminium (EGA), the project is designed to produce 750,000 tonnes of primary aluminum annually, potentially doubling U.S. primary aluminum production. The facility is expected to create thousands of direct and indirect jobs and add USD 1.5 billion to Oklahoma’s gross domestic product, according to company estimates. The partners had targeted construction to begin by the end of 2026. However, local restrictions and permitting challenges have affected the...
LME aluminium stocks declined by more than half during the first nine months of 2026, falling by 267,875 tonnes from 509,250 tonnes on January 2 to 241,375 tonnes on September 30 (52.6 per cent). The decline continued throughout the period, with average warehouse inventories falling each month. Compared with the same period in 2025, monthly average stocks were lower across all nine months, with the gap widening in the third quarter. Q1 LME aluminium stocks fall 18.2 per cent LME aluminium inventories continued to decline during Q1 2026. Month-end stocks fell from 495,725 tonnes in January to 465,550 tonnes in February, before dropping further to 416,775 tonnes in March. Monthly average inventories stood at 498,670 tonnes in January, 481,801 tonnes in February and 440,710 tonnes in March....
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Alcoa announced today the completion and restart of its redesigned 50,000-ton forging press at the company’s Cleveland Works. A $100 million dollar investment that Alcoa announced in 2009, the new press strengthens Alcoa’s position as the preeminent supplier of large aluminum, titanium, nickel and steel forgings to the aerospace, defense, energy and industrial markets. “Combining our advanced alloy and manufacturing process technology with our state-of-the-art 50,000 ton press capabilities, we will be unmatched,” said Eric Roegner, president, Alcoa Forgings and Extrusions, at a special celebration shared with federal, state and local legislators, community and industrial leaders, and employees. “Our unique press offers the ability for Cleveland Works to double its capacity to serve our...
The first AP60 cell has been delivered to Rio Tinto Alcan's Arvida AP60 Technology Centre, located in Saguenay-Lac-Saint-Jean, Quebec. "This is a momentous day for Rio Tinto Alcan. With the new generation of AP60 cells, metal production per cell will be 40 per cent higher than in other existing smelters", declared étienne Jacques, chief operating officer, Rio Tinto Alcan Primary Metal, North America. The arrival of the first AP60 cell at the plant is a significantmilestone. Indeed, the AP60 technology will become an aluminium industry benchmark due to its operating costs, energy consumption, and environmental performance. "This is all the more significant because the cell was built right here in Saguenay-Lac-Saint-Jean, by Charl-Pol Saguenay, a company that will deploy the leading edge...
Romanian aluminum producer Alro made a EUR 52.9 million profit in 2011, up from EUR 37.9 million the year before, due to favorable market conditions in the first nine months of the year, and despite a drop in revenues caused by lower aluminum prices and higher electricity costs in the last three months of the year. The producer added EUR 100 million to its turnover last year, reaching EUR 528 million. The producer’s tax contribution to the state was of almost EUR 12 million, up from EUR 7.8 million the previous year. “The structure of our costs, as well as significant investments allowed us to improve results when the international aluminum market went up, but also stay profitable when unpredictable external factors impacted our activity,” said Marian Nastase, vice-president of the board...
Aluminium Bahrain (Alba), which owns the world's fourth-largest aluminium smelter, saw its full year 2011 net income jump 53 percent to $564 million, the company said on Thursday However, Alba also said production only increased by 3.6 percent while sales were up 4.5 percent.
SINGAPORE: LME aluminium will dive to $2,135 per tonne, as indicated by its wave pattern and a Fibonacci projection analysis. The metal is riding on a downward wave "c", unfolding towards the 100 percent Fibonacci projection level, based on the length of the preceding wave "a" and the peak of the wave "b" at $2,246.75. The wave "c" is capable of travelling to $2,066, the 161.8 percent projection level, over the next few trading sessions. This aggressive target will be confirmed by a double-top once the metal breaks the neckline support at $2,191. 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...
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.Century Aluminum ranks highest with a a forward P/E ratio of 23.50. Kaiser Aluminum is next with a a forward P/E ratio of 15.06. Noranda Aluminum ranks third highest with a a forward P/E ratio of 13.93. Alumina follows with a a forward P/E ratio of 11.60, and Alcoa rounds out the top five with a a forward P/E ratio of 11.58. SmarTrend recommended that subscribers consider buying shares of Noranda Aluminum on December 13th, 2011 as our technology indicated a new Uptrend was in progress when...
United Co. Rusal (486), the world’s largest aluminum producer, declined in Moscow trading as prices for the light metal dropped to the lowest in a month. Rusal’s Russian depositary receipts lost as much as 2.8 percent in Moscow trading, which would be the biggest fall since Dec. 16, before trading down 2.6 percent at 257.68 rubles at 10:29 a.m. Aluminum prices dropped 0.6 percent yesterday in London to $2,187 per a metric ton.
Noranda Aluminum Holding Co posted fourth-quarter results below analysts' estimates, hurt by lower realized prices for aluminium, but the company raised its quarterly dividend by a cent. Noranda, which started paying dividend last November, raised its quarterly dividend to 4 cents per share. The dividend will be paid on March 21 to shareholders on record as of Feb. 27. Tennessee-based Noranda reported a quarterly net income of $24.4 million, or 36 cents per share, compared with $34.9 million, or 59 cents per share. Excluding items, the profit was 1 cent per share. Revenue fell 15 percent to $338.5 million. Analysts, on average, were expecting the company to earn 5 cents a share, on revenue of $350.1 million, according to Thomson Reuters I/B/E/S. Noranda operates a mine in Jamaica to...
Analysts are currently bearish about Alcoa (AA) and Century Aluminum (CENX) given uncertainty in the industrial economy. Based on my review of the fundamentals and multiples, I find significant risk for both companies but attractive upside for Alcoa. From a multiples perspective, Alcoa and Century are unstable due to earnings volatility. Alcoa trades at a respective 19.4x and 10.7x past and forward earnings while Century trades at a respective 10x and 23.5x past and forward earnings. Both have 110% or more volatility than the broader market and minimal capital allocation policies only make investors more nervous. Given inflationary concerns and political unrest in the Middle East, basic materials investors are more interested in gold producers. At the third-quarter earnings call,...
U.K. prosecutors charged Bruce Allan Hall with corruption and money laundering tied to his time as an executive at Aluminium Bahrain B.S.C., a smelting company in Bahrain. An Australian national, Hall was released on conditional bail and must appear at a London criminal court next month, the Serious Fraud Office said in an e-mailed statement today. He is accused of accepting bribes over an eight-year period while he worked at the company, known as Alba, the prosecutors said. Hall was extradited from Australia to London to face the charges, the SFO said. His co-defendant in the case, British investor Victor Dahdaleh, is also scheduled to appear at the same court hearing, the SFO said. Dahdaleh was charged Oct. 24 with six counts of making corrupt payments, two counts of money laundering,...
United Co. Rusal, the world’s largest aluminum producer, plans to keep output stable in the first quarter, and sell some of the stockpiles accumulated last year, as prices rise. "We plan to keep the volume of production stable in the first quarter,” First Deputy Chief Executive Officer Vladislav Soloviev said today on a conference call with reporters. The company confirmed it may cut output by about 6 percent in the next 18 months. Rusal shifted sales of about 100,000 metric tons of aluminum produced last year to the first quarter of 2012, according to a statement on production results published today via the Hong Kong stock exchange. Aluminum prices declined almost 30 percent by the middle of December to $1,962 a ton from a peak in May, prompting Alcoa Inc. and Rio Tinto Group to start...
Noranda Aluminum Holding Corp.'s (NOR: News ) fourth-quarter 2011 net income slid to $24.4 million or $0.36 per share from $34.9 million or $0.59 per share in the prior-year quarter. Excluding special items, Noranda reported quarterly net income of $0.6 million or $0.01 per share, versus $24.0 million or $0.41 per share a year earlier. Both fourth quarter and full-year 2011 results included $16.5 million or $0.16 per share of costs associated with Alumina and Bauxite maintenance events. On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.05 for the quarter. Analysts' estimates typically exclude one-time items. Sales totaled $338.5 million compared with $344.3 million in the year-ago period. Analysts estimated revenues of $350.14 million for the quarter....
The volume of spot ADC12 aluminum alloy imports into Japan has soared in the past week ahead of the April-June quarter purchase tenders by automakers and other consumers at the end of the month, local market sources said Tuesday. Four Japanese traders reported deals for over 5,000 mt of ADC12 alloy combined in the past week, to be shipped to Japan over April-May mainly from south China ports. One vehicle manufacturer source in west Japan, who has sourced 4,000-6,000 mt of ADC12 for March-April deliveries last week, said an increasing number of Japanese buyers share the outlook that metal prices will rise in May-June. "I wanted to book my requirement as soon as possible, because we are alarmed by the possible spike in prices in May-June, because LME aluminum prices are expected to be...
Norwegian aluminium maker Norsk Hydro said restructuring paid off with final quarter core profit above forecast while lower prices and a weakening market did not dent its business as much as feared. "We have taken swift measures to improve operations, and we are prepared for further corrective measures," the firm said on Thursday. The results reflected weaker markets and a drop in demand for aluminium and aluminium products, especially in Europe, "where we clearly need to continue our restructuring efforts," Chief Executive Svein Richard Brandtzaeg said. The firm took a 1.3-billion-crown writedown of assets in Australia where it is idling a 60,000 tonnes-per-year production line at its money-bleeding Kurri Kurri aluminium plant. It reported underlying fourth-quarter earnings before...
The global aluminum market was in surplus by 1.205 million metric tons in 2011, the World Bureau of Metal Statistics said Wednesday. The gap between supply and demand was greater than in 2010, when the market had recorded a surplus of 1.05 million tons, the WBMS added. Demand for primary aluminum in 2011 totaled 42.45 million tons, up 2.389 million tons on 2010 levels. However, production during the year rose by 2.54 million tons, it added, lower than the 3.91 million-ton increase in 2010. The WBMS didn't provide a total number for production.
Global miner BHP Billiton has decided not to go ahead with an aluminum smelter project in the Democratic Republic of Congo (DRC) after a review, a spokesman for the company said on Wednesday. Ruban Yogarajah told Reuters from London that BHP Billiton has studied the construction of the aluminum smelter in the DRC, which was to be supplied by the potential Inga 3 dam project. "However the company has chosen to not continue the project, which was still at a very early stage, following a review of its economics," Yogarajah said in an e-mail.
According to Ministry of Finance, Japanese aluminum ingot import increased by 17% to 146,481 tonnes in December from a year earlier. Japanese major aluminum sash makers increased the import to cover production at flood damaged Thai transplants. The alloyed aluminum ingot increased by 13% to 101,202 tonnes under higher yen rate. The electrolytic zinc import decreased by 88% to 281 tonnes for metal with 99.99% or more purity in December from a year earlier. The import decreased due to overstock of imported ingot after import surge amid domestic supply trouble caused by the major earthquake. The electrolytic lead import increased by 51% to 1,469 tonnes in December from a year earlier which increased for 10 months in a row. The battery makers increased the import to cover low domestic lead...
Russia's aluminum giant United Co. Rusal PLC (0486.HK) Tuesday said it plans an increase of up to 70% of alloy production at its Siberian smelters by 2016. "By 2016 we plan to produce 1,930,000 tons of high value-added products at our Siberian smelters, in order to satisfy consumer' demand. This modernization will result in Rusal developing further relationships with the world's largest companies," said Vladimir Polin, the company's director of Aluminum Division East, which covers the larger Siberian smelters. The Hong-Kong, Paris and Moscow-listed company said it plans to invest $5 million in 2012 to raise alloy production to 1.26 million metric tons from the current 1.13 million tons. Rusal said it will upgrade facilities at Krasnoyarsk, Bratsk, Sayanogorsk, Novokuznetsk and Irkutsk...
