Hindalco Industries Limited plans to raise up to INR5,000 crore ($1.2 billion) through a rights issue to existing shareholders, in a bid to retire loans taken to acquire Canadian firm, Novelis, last year. For full story, click here
London aluminium dropped to a five-year low on Tuesday as worries about slow demand overcame support from a soft dollar and plans to boost China’s economy. For full story, click here
National Aluminium Company Ltd has signed a strategic alliance agreement with Rio Tinto Alcan, a Canadian company and global supplier of bauxite, alumina and aluminum, for increasing its presence in India and abroad. For full story, click here
Shanghai aluminium fell by 4 percent limit on Tuesday as worries about slow demand overcame support from a soft dollar and plans to boost China’s economy. For full story, click here
China’s minerals-rich border region of Guangxi will consider purchasing metals to help support prices, but has not yet decided. For full story, click here
If BHP Billiton versus Rio Tinto had been a boxing match, it would have got top billing. BHP’s Marius Kloppers and Rio’s Tom Albanese are heavyweight titans of mining. For full story, click here
According to a government website, Yunnan will buy 300,000 tonnes of aluminium. For full story, click here
Three-month aluminium dipped to $1,755 a tonne from $1,803. For full story, click here
California based Kaiser Aluminum Corporation plans to close its Tulsa in Okla, plant and scale back operations at its facility at Bellwood in Virginia affecting a combined 170 employees. For full story, click here
Aluminum pared declines in LME after China, the world’s largest producer, decided not to lower export taxes that may have boosted supplies. Aluminium declined to $1,478 a tonne. For full story, click here
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