Rio Tinto’s second-quarter aluminum output slipped to 942,000 tonnes, down 1 percent from the previous quarter and 5 percent lower year on year, as it continued to close operations in an effort to slash costs. 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
Kaiser Aluminum Corp. reported that it has streamlined operations management. For full story, click here
Aluminium for delivery in three months on the London Metal Exchange fell to a low of $1,279 a tonne – the lowest level since November, 2001. Record high stocks were responsible for the overwhelming downward pressure. Aluminium LME warehouse inventories leapt by 13,125 tonnes to stand at 3.17 million tonnes, their highest ever.
Madras Aluminium says to temporarily suspend its entire aluminium production with immediate effect. Previously had made a 60 percent cutback. For full story, click here
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