Norsk Hydro (NHY.OL), aluminum producer, is building the largest aluminum recycling plant at Karmoy, Norway with an initial capacity of 35,000 tonnes. 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 [...]
Aluminum can makers in Japan expect a fast moving shipment in the coming weeks due to high consumption of beer and softdrinks on the soccer World Cup. 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, [...]
Hindalco Industries’ India’s leading aluminum producer, declared a 31 percent dip in first-quarter profit, beating analysts’ expectations, on lower metal prices. The shares surged. For full story, click here
United Co. Rusal, the Russian aluminum producer controlled by billionaire Oleg Deripaska, declared that it will cut alumina production at its Friguia plant in Guinea by “more than 50 percent” next month. For full story, click here
Alcoa Inc. dipped the second-most in the Dow Jones Industrial Average, falling 8.8 percent to $8.63. China, the world’s leading aluminum producer, may have restarted as much as 1.4 million metric tons of capacity in April. For full story, click here
National Aluminium Co., India’s second-leading producer, is rising bauxite production after reopening its mines last month. For full story, click here
Aluminum producer Alcoa Inc. announced that it has agreed to sell its wire harness and electrical distribution business to Platinum Equity, a California-based private equity group. For full story, click here
Vimetco, the Netherlands-based global aluminum producer, declared that it could take as long as 15 months before the world aluminum industry starts to benefit from the numerous stimulus packages designed to kick-start ailing economies. For full story, click here
BHP Billiton Ltd., Africa’s largest aluminum producer, declared its Bayside smelter in South Africa may be unviable financially because of weaker domestic demand. For full story, click here
Wall Street expects aluminum producer Alcoa Inc. to report a second consecutive quarterly loss next week, mostly because the metal’s price has dipped 9 percent this year. For full story, click here
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