Aluminum’s fundamentals remain dire, despite the upswing in Chinese Imports. Imports in the country are rising due to an arbitrage opportunity as Shanghai Futures Exchange aluminum is selling at a premium of $400-$500 per tonne on the London Metal Exchange.
Mining giant Rio Tinto is in talks with Chinese aluminium firm Chinalco over the sale of some of its operations. For full story, click here
The price of aluminum has slumped some 50 percent since peaking at $3,380 per tonne last July as the global economic downturn has hit demand for the metal. To kick off 2009, the aluminum market received some positive news as the metal climbed to a three-week high in Shanghai trading.
National Aluminium Company Ltd has signed a strategic alliance agreement with Rio Tinto Alcan, a Canadian company and global supplier of bauxite, alumina and aluminum, for increasing its presence in India and abroad. For full story, click here
The Madras Aluminium Company (Malco) mines bauxite in the Kolli hills some 400km (250 miles) from Madras (Chennai), the capital of Tamil Nadu. For full story, click here
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