Reliance Steel and Aluminum ended the last trading session at $35.72. So far the stock has hit a 52-week low of $12.58 and 52-week high of $78.44. Reliance Steel and Aluminum stock has been showing support around 31.69 and resistance in the 38.37 range. For full story, click here
The mining operations at National Aluminum Company’s Panchapatmali bauxite mines near Damanjodi in Orissa’s Koraput district are reported to have resumed today following talks between the mining employees’ association and the company authorities. For full story, click here
Hulamin Ltd., Africa’s largest aluminum processor, reported that the company is in talks with BHP Billiton Ltd. that may affect its share price. For full story, click here
BHP Billiton Ltd., Africa’s largest aluminum producer, declared its Bayside smelter in South Africa may be unviable financially because of weaker domestic demand. For full story, click here
As LME aluminum prices have surged by 18% since early March, a timely announcement by Hydro Aluminium of Norway came out this week to quell any fears among aluminum consumers that capacity cutbacks would eventually bring the market into supply/demand balance and push up prices to levels seen last year. For full story, click here
Century Aluminum Co. declared that it has halved its first-quarter loss to $114.6 million, but results still missed Wall Street expectations, sending shares tumbling 8 percent after-hours. For full story, click here
The Managing Director of Iran’s South Aluminum Corporation, Mohammad Mehdi Mostaghimi declared that Iran and China are working to implement Iran’s biggest aluminum industrial project. For full story, click here
Russian aluminum giant Rusal declared that its primary aluminum output had dipped 7.2% year-on-year in January-March to 1 million metric tons. For full story, click here
China Zhongwang Holdings Ltd. has planned to raise nearly US$1.6 billion in the world’s biggest IPO so far this year, people familiar with the situation. For full story, click here
Aluminum maker Ormet Corp. declared that it is seeking a court order against Glencore International AG to prevent the Swiss commodities trader and producer from halting alumina deliveries to its southeast Ohio plant. For full story, click here
Get our independent commentary on aluminum trends and companies delivered to your inbox.
