Alcoa to shut Italy aluminium plants
It is reported that U.S. aluminium producer Alcoa Inc (AA.N) plans an orderly shutdown of its two Italian smelters by Feb. 6, despite government efforts to find energy at a competitive price.
Archive for January, 2010
Five China firms:$1.1 billion in HK IPOs
Five Chinese companies are targeting up to a combined $1.1 billion from initial public offerings in Hong Kong this week, reinforcing the fundraising wave that made it the world’s No. 1 IPO market in 2009.The companies came after Russian’s UC RUSAL, the world largest aluminum producer, priced its $2.2 billion deal in the mid-point of the range last week, and several of this week’s deals are quite small.
RUSAL raises $2.2 billion in Hong Kong IPO
Russia’s UC RUSAL, the world’s largest aluminum producer, raised $2.2 billion through its initial public offering. The company also brought the debt-burdened company a step closer to being the first non-Asian firm to have a primary listing in Hong Kong.
Alcoa reported a narrower fourth-quarter loss
On Monday, Alcoa Inc reported a narrower fourth-quarter loss as aluminum prices inched up, but the result fell short of expectations and its shares dropped more than 6 percent in after-hours trade.
Alcoa profit update
Wall Street reported that it expects Alcoa Inc (AA.N) to post a small fourth-quarter profit. However, optimism is tempered by concern over aluminum prices and how much the auto and aerospace industries rebounded from the recession.
Alcoa’s stock down
Shares in aluminum producer Alcoa Inc (AA.N) fell nearly 3 percent on Tuesday on fears over aluminum price.
Aluminum Corp raised alumina prices
Aluminum Corp of China Ltd raised spot alumina prices by 5.7 percent to 2,800 yuan ($410.1) per tonne from Dec. 31.
