OJSC Zaporizhia Aluminum Combine, the country’s only aluminum smelter has seen UAH 356.639 million in net losses in 2008, while in 2007 its net profit was estimated at UAH 75.58 million. 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
Alcoa’s Intalco Works aluminum smelter is reported to shut down within weeks unless the Bonneville Power Administration offers it a break on electricity. Bill Oplinger, an Alcoa vice president, stated: Every day we delay this decision is a day we lose more money. For full story, click here
Reports reveal that the stoppage of Zaporizhia Aluminum Combine the country’s only aluminum smelter, would cause serious financial losses for the Ukrainian economy. For full story, click here
Norwegian aluminum producer Norsk Hydro ASA declared that it has deepened its production cuts by a further 100,000 metric tons of annual capacity at its Sunndal smelter, amid demanding market conditions. 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.
Vedanta Resources will keep its aluminum smelter in southern India closed as prices remain weak. For more information, click here
Alcoa to trim output at Fusina aluminium smelter in Italy as part of earlier announced plan to curtail 615,000 tonnes of its annual output. For full story, click here
Columbia Falls Aluminum is to curtail the last operating potline at its 168,000 tonnes per year (tpy) smelter in the United States. 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.
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