Market News

Australian mining firm Alumina Limited announced Alcoa Corporation’s Q1 earnings results, revealing a loss of $231 million, which is a significant contrast to the profit the company recorded in the same period a year earlier, owing to a decrease in shipments and production. 

Quickstep, a leading aerospace composite business in Australia, has decided to keep its Aftermarket business as a core part of the company and is planning to enhance the business through several new growth initiatives 

Wire additive manufacturing developer AML3D Limited has received more than $1 million in customer cash receipts, setting a new quarterly earnings record for the company. 

Australian cobalt company Jervois Global Limited has submitted an application to the United States Department of Energy (DOE) Loan Program Office to finance its proposed greenfield US cobalt refinery. 

Austal has reported revenue of more than $2 billion for the 2026 financial year, while its Australasian operations delivered record earnings despite the shipbuilder recording a group-wide loss linked to provisions on US contracts.

The latest result rounds off a volatile year for UK car production, with output down by 17.9 per cent in the month after growth in October and November, with most of the year’s volume loss occurring in the first half. 

The health of Australia’s manufacturing industry has continued to see a downturn in May, with the headline seasonally adjusted Judo Bank Australia Manufacturing PMI posting a 48.4, up from April’s 48.0. 

XTEK Limited’s HighCom Armor Solutions business has secured a $2.8 million order to supply its high-end ballistic body armour products to an undisclosed international customer. 

The Electric Vehicle Council has published its annual State of Electric Vehicles report, revealing that while EV sales are expected to more than double in 2023, Australia will continue to trail behind comparable nations in terms of customer choice unless critical legislative reform is implemented.

Global manufacturing output and new orders have shown slower contraction in the first month of 2023, resulting in a 49.1 PMI score in January, up from December’s 48.7 rating.