Norwegian aluminum producer Norsk Hydro ASA declared that it has deepened its production cuts by a further 100,000 metric tons of annual capacity at its Sunndal smelter, amid demanding market conditions. For full story, click here
Aluminum’s fundamentals remain dire, despite the upswing in Chinese Imports. Imports in the country are rising due to an arbitrage opportunity as Shanghai Futures Exchange aluminum is selling at a premium of $400-$500 per tonne on the London Metal Exchange.
Some U.S. secondary aluminum smelters have increased scrap prices by 1 or 2 cents a pound to acknowledge competition from exporters, although volumes remain slim. For more information, click here
Despite America’s taste for large heavy vehicles, North America leads the world in vehicular aluminum use, about 0.8% ahead of the world average of 7.8%. For full story, click here
Koenig & Vits, operators of an aluminum rolling mill at 2015 Mirro Drive, will start off a permanent elimination of 23 salaried and 63 hourly production employees beginning in May and continuing through July. For full story, click here
The pace of decline in U.S. aluminum scrap exports almost flattened in January, with shipments drop a mere 1 percent compared with December. For full story, click here
India imposed taxes on purchases of some aluminum products from China for six months after an industry group complained the imports were hurting local producers who are grappling with weak demand. For full story, click here
The general manager of a state-owned Chinese aluminum producer that is in the midst of a $19.5 billion deal to invest in global miner Rio Tinto Group has been named to a Cabinet post. For full story, click here
Onexim Group, owned by Russian oligarch Mikhail Prokhorov, has increased its stake in United Co Rusal to 18.5% after turning $2 billion of the aluminium producer’s debt to his company into equity. For full story, click here
Alcoa Inc’s launch of new lightweight aluminum wheels for trucks and buses will cut 600 to 1,300 lbs off total truck weight compared with steel wheels, which in turn will cut fuel and CO2 emissions and improve tire wear. Alcoa Wheels and Transportation Products President Kevin Kramer said: You really get two benefits: You improve [...]
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