Minmetals Resource, the listed alumina trading unit of China Minmetals Corp, declared that its aluminum processing output will be raised to 105,000 tons in 2009, 25,000 tons more than that in the previous year. For full story, click here
Century Aluminum of Kentucky, a wholly owned subsidiary of Century Aluminum Co. declared that at this time it would not be able to move forward on a proposed new, long-term power contract for the company’s Hawesville, Kentucky smelter, due to unfavorable business conditions. For story, click here
Reliance Steel and Aluminum closed yesterday at $37.97. 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 36.16 and resistance in the 39.74 range. For full story, click here
Aluminum distributors’ inventories have slipped so low that any significant uptick in demand would likely trigger a surge in aluminum output. Klaus Kleinfield, CEO of Alcoa Inc., stated: Most distributors have thrown out the window their normal safety inventory requirements. For full story, click here
It is declared that China’s imports of refined copper have surged for three consecutive months reaching the highest point in April this year; aluminum imports have increased four fold. For full story, click here
Aluminum Corporation of China closed yesterday at $22.32. So far the stock has hit a 52-week low of $7.22 and 52-week high of $44.50. Aluminum Corporation of China stock has been showing support around 21.45 and resistance in the 23.81 range. For full story, click here
Norsk Hydro ASA, Europe’s third- leading aluminum producer, declared the industry will probably deepen cutbacks as demand for some products hasn’t improved in what is typically the best quarter of the year. For full story, click here
Aluminum Corporation of China opened at $22.30. So far today, the stock has hit a low of $21.75 and a high of $22.87. ACH is now trading at $22.86, up $0.13. Over the last 52 weeks the stock has ranged from a low of $7.22 to a high of $44.50. For full story, click here
China is the world’s No. 1 producer of aluminum, accounting for one-third of both world output and world consumption of primary aluminum, as per a report by minerals and metals research firm Roskill Information Services. For full story, click here
China’s refined copper imports were raised for three consecutive months and hit a new record in April, while aluminum imports also surged more than fourfold. For full story, click here
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