US Fed Officials Suggest Current Policy Stance Is Just Right, May Remain Unchanged for a While

Novelis recently released its fiscal 2026 Q3 results, highlighting the impact of the fire at its Oswego plant. The production disruption at the Oswego plant is expected to reduce shipments by 72,000 mt. This resulted in a pre-tax negative impact of $54 million on adjusted EBITDA and net loss. The net loss was further affected by a pre-tax loss of $327 million related to the fire. Despite the decline in paired volume, net sales increased 3% YoY to $4.2 billion, primarily driven by higher average aluminum prices.

According to foreign media: Recently, Egypt Aluminum signed a contract with Italian aluminum rolling equipment manufacturer Mino to carry out upgrades. Egypt Aluminum has invested 19 million euros to upgrade its cold rolling production line. This is a step in Egypt Aluminum's ambitious development plan: to enhance competitiveness, support the national industry, and implement new high-value-added projects. The company signed a contract with Italian aluminum rolling equipment manufacturer Mino to implement the upgrades. The contract period is 27 months and will improve the efficiency of the cold rolling line, which is a key step to extending its service life and ensuring the required thickness and specifications for the planned foil plant.

Australia's Alpha HPA has broken ground on the second phase of what is planned to be the world's largest single-site ultra-high-purity alumina refinery. Located on a 10-hectare site in Gladstone, Australia, the project will utilize proprietary licensed solvent extraction and refining technology to produce alumina products with purity levels as high as 99.99% in commercial quantities, supplying critical raw materials for global industries such as lithium batteries, LED lighting, and semiconductor manufacturing. It is reported that the second phase will build upon the established first-phase operations. The company's initial facilities, already housed in a smaller building at the site, have been producing a range of high-purity alumina and aluminum products on a scaled basis.