Alex's Daily Alu Digest
Tuesday, 12 May 2026
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4 stories
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LME Aluminium
$3,593/t
-$29 (-0.8%)
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Cash settlement · USD/t
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ECDP
$600/t
+$0 (0.0%)
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P1020A in-whs dp Rotterdam · USD/t
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Novelis / Hindalco
9 May
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#1
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Novelis raises $750 million from AV Minerals to bolster post-Oswego liquidity
Novelis entered a subscription agreement with AV Minerals, a Hindalco group entity, issuing 50 million common shares at $150 per share to raise $750 million for future growth and to shore up liquidity after the Oswego plant fires.
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Novelis / Hindalco
10 May
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#2
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Novelis Oswego cash impact revised to $1.3–1.6 billion as hot mill restart slips to late Q2
The total cash impact of the two Novelis Oswego fires has been revised to $1.3–$1.6 billion, more than double the initial $550–$650 million estimate; the hot mill restart is now expected in late Q2 calendar 2026, with Hindalco management flagging FY2026-27 as the recovery year once operations normalise.
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AMAG secures €75 million EIB loan to advance high-value aluminium R&D
AMAG Austria Metall secured a €75 million European Investment Bank loan for R&D into higher-value aluminium products, part of a €168 million investment programme running 2025–2028 targeting premium alloys for aerospace, automotive, and packaging markets.
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Novelis angle
AMAG's EIB-backed R&D push into premium alloys targets aerospace and automotive segments where Novelis holds strong European positions, intensifying competition for high-margin speciality FRP.
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Ford raises 2026 profit guidance despite $1 billion net tariff burden from Novelis Oswego supply gap
Ford raised its 2026 annual profit guidance by $500 million following a Supreme Court tariff-refund ruling, but still absorbs an estimated $1 billion in net tariff costs for the year; following the Novelis Oswego hot mill fire, F-150 aluminium is now sourced from Europe and South Korea — both subject to the 50% US Section 232 tariff — and the US government rejected Ford's tariff relief request.
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Novelis angle
Ford's $1 billion net tariff burden — driven partly by sourcing European and South Korean aluminium to replace lost Oswego capacity — underscores the commercial urgency for Novelis to restore domestic US hot mill supply.
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