China SRB to buy 290,000 tonnes of primary aluminum
Interfax China reported that Sichuan-based Aostar Aluminum Co Ltd will buy an additional 290,000 tonnes of primary aluminum from various domestic smelters. For more information, click here
Archive for February, 2009
Hindalco: Board approved usage of share premium reserve
Hindalco said that its board had approved a proposal to use USD 1.8 billion in its share premium reserve to write off costs relating to its foreign acquisition and domestic expansion. For full story, click here
Hindalco Industries to pledge assets
Hindalco Industries Ltd will fund future projects by pledging assets of its units. For full story, click here
Trimet Aluminium AG said it had cut aluminium output
German aluminium producer Trimet Aluminium AG said it had cut aluminium output by about 30 percent. The cuts spread equally between its 130,000 tonnes a year smelter and its 170,000 tpy Essen plant. For full story, click here
Aluminum prices fell
Aluminum prices fell as stocks of the metal used in transport and packaging jumped by more than 10,000 tonnes for the second day in a row to a record above 2.94 million tonnes. For full story, click here
Norsk Hydro said it reducing its aluminium production
Norsk Hydro said it reducing its aluminium production by another 25 percent at its Soeral smelter in Norway, effective March 1. For full story, click here
Three-month aluminum was untraded
Three-month aluminum was untraded at the close, but bid at $1,330, from $1,348 a tonne at the close Monday, having earlier fallen to $1,331 – the lowest since late January. For full story, click here
Aluminium prices dipped $13 to $1,340 per tonne
Saddled with a huge inventory of 29.24 lakh tonnes on the LME by the end of the current weak, aluminium prices dipped $13 to $1,340 per tonne. For full story, click here
China’s import a concern
Slowdown in China’s imports of major base metals would continue to remain a cause for concern in the base metals market, they said. For full story, click here
Century Aluminum would curtail output
Century Aluminum said it would curtail remaining output at its 170,000 tonnes tpy Ravenswood, West Virginia aluminium smelter by Feb. 20. For full story, click here
