The press release is quoted as saying:

RUSAL (RUAL.PA), which listed in Hong Kong in January, posted a net profit of $1.02 billion for the three months ended June, beating an average forecast of $478 million from eight analysts polled by Reuters. The net compared with a loss of $230 million a year ago and was up from the first quarter profit of $247 million. It earned a net profit of $1.27 billion in the first half versus a loss of $868 million a year ago, the company said in a filing to the Hong Kong stock exchange.

Click here to access the entire press release

The press release is quoted as saying:

Non-run-rate losses in the second quarter 2010 were approximately $22 million compared to non-run-rate gains of $22 million in the second quarter of 2009. Excluding the impact of these pre-tax, non-run-rate items, adjusted net income was $13.5 million, or $0.71 earnings per diluted share, for the second quarter of 2010 compared to adjusted net income and earnings per diluted share of $6.5 million and $0.32, respectively, for the prior year quarter.

Click here to access the entire press release

After a rally towards the end of 2009, base metals have tumbled in the first half of 2010 on China monetary tightening and concerns about sovereign debt problems in Euro Zone nations. Apart from the temporary upward movements seen in copper, nickel and aluminium analysts hold divergent views on prospects for base metals ahead in 2011.

Click here to access the entire Editorial

The press release is quoted as saying:

Chalco’s (601600.SS) parent, known as Chinalco, had signed a $2.9 billion non-binding pact with Rio Tinto in March to develop the project. Chinalco holds a stake of around 9 percent in Rio.

Click here to access the entire press release

The press release is quoted as saying:

The company information to be made available through this program includes share price, volume, dividends, shares outstanding, company financial position, and earnings. Standard & Poor’s Advisor Insight is an Internet-based research engine used by more than 100,000 investment advisors.

Click here to access the entire press release

Click here to access Sillenger Exploration Corp. Corporate Site

After aluminum’s recent slump, many smelters are unprofitable- a reality that may lead to forced shutdowns. Aluminum prices have slumped 20 percent during the past two months after the European debt crisis and fears over falling Chinese demand scared away risk adverse investors.

Aluminum is currently trading around $1,938 a tonne on the LME. Prices closed at $1,867.50 a tonne on June 7, the metal’s lowest price in eight months. Oleg Deripaska, the CEO of the largest aluminum producer United Company Rusal (HKG:0486), said 70 percent of smelters globally are unprofitable at these prices. If prices stay at these levels, Deripaska predicts that many producers will shut down; this in turn would lead to a supply deficit.

According to the Aluminum Corporation of China, prices have already dipped below the cost of production. China plans on increasing power charges to curb overcapacity. “Many producers are now operating below cost,” said Fang Junfeng, an analyst at China International Futures (Shanghai) Co. “Even if they start cutting output, it will be a while before reduced supply translates into higher prices.”

Company News

Now that Vale’s (NYSE:VALE) venture partner, Nippon Amazon Aluminum Co., has agreed to the decision, Vale SA will sell its $4.9 billion holdings in aluminum production ventures with a Japanese partner to Norsk Hydro ASA. In return, Vale will obtain a 22 percent stake in Norsk Hydro.

After more than six weeks’ worth of negotiations, Alcan and the Steel Workers Union Local 5668 failed to reach an agreement this past Saturday.  The union voted to turn down the final offer for a new collective bargaining agreement made by Alcan Metal-Ravenswood LLC. The union and company agreed to continue production under the terms of the current collective bargaining agreement until further notice.  Alcan is struggling to maintain profitability in the face of plummeting aluminum prices.

Phil Martens, President and Chief Operating Officer, Novelis Inc. is quoted saying:

“We are experiencing strong demand for our products in South America, particularly for beverage can sheet.”

Click here to access the entire Press Release.

Click here to access the entire Editorial

Norsk Hydro is quoted saying:

“The planned new plant at Karmoy will recycle dross and scrap from all of Hydro’s aluminium plants in Norway, as well as from external sources in Scandinavia and Iceland.”

Click here to access the entire news

Japan’s top aluminum can maker, Daiwa Can Company is quoted saying:

“We expect can shipments to get a boost from the event as the more people go travelling, more drinks are consumed.”

Click here to access the entire news