Emirates Global Aluminium, a competitor to Russia’s Rusal, which owns the huge Shannon Estuary smelter, posted a record profit in the first part of the year.
Emirates Global Aluminium, a rival to Russia’s Rusal that owns the huge Shannon estuary smelter, posted a record profit in the first half as steel soared.
Profits nearly quadrupled to 1. 6 billion euros, the Middle East’s biggest aluminum maker said. This outpaced the company’s profit for the whole of last year, with cash up about 70%.
Aluminum, which is used in everything from beer cans to aircraft parts, grew an average of about 36% in world markets in the first part of the year after Russia invaded Ukraine. on the London Metal Exchange, and Emirates Global has warned of more complicated conditions.
“We expect market situations to be more challenging in the current part of the year,” said lead executive Abdulnasser bin Kalban. “We remain on track for a strong year and overall. “
An analysis
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