Vimetco, the Netherlands-based global aluminum producer, declared that it could take as long as 15 months before the world aluminum industry starts to benefit from the numerous stimulus packages designed to kick-start ailing economies. For full story, click here
China Zhongwang Holdings Ltd. surged $1.26 billion as it priced the world’s largest initial public offering in nine months toward the low end of an offering range, said two people familiar with the sale. Winson Fong, who helps manage $2 billion at SG Asset Management H.K. Ltd., stated: Recently the market has been in a [...]
Kaiser Aluminum Corp. declared that first-quarter profit slumped more than 90 percent as the price of aluminum dipped. For full story, click here
Sterlite Industries India Ltd. declared a 55% fall in fourth-quarter net profit as metal prices dip. For full story, click here
The China Nonferrous Metals Industry Association declared that domestic aluminum prices in the coming months are expected to see corrections following an uptrend in the Q1 as rising numbers of Chinese aluminum smelting facilities are scrambling to resume production. Mr Wen Xianjun vice chairman with the CNMIA stated: With current aluminum prices between CNY 13,000 [...]
The Norwegian aluminum group Norsk Hydro ASA declared a net loss of $42 million that was down from a net profit of 1.086 billion kroner a year earlier as it was stung by low prices and the deepening global economic slump. For full story, click here
Century Aluminum Co. announced that it will amend 2 alumina purchase pacts with Glencore, dated April 14, 2008 and April 26, 2006. For full story, click here
Aluminum prices are reported to be under tremendous pressure in coming months on the back of large-scale production restarts. For full story, click here
OJSC Zaporizhia Aluminum Combine, the country’s only aluminum smelter has seen UAH 356.639 million in net losses in 2008, while in 2007 its net profit was estimated at UAH 75.58 million. For full story, click here
New York Stock Exchange listed Alcoa Inc. is the latest company set to receive a loan valued at $50 million from the Quebec government to escape the bites of recession. For full story, click here
Get our independent commentary on aluminum trends and companies delivered to your inbox.
