Storvik has won a contract to operate and maintain the automated anode rod repair system at Alcoa's Mosjøen aluminium smelter in Norway. The agreement extends a partnership that began in 2016, when the company introduced its In-Line Rod Repair (ILRR) system at the plant. Storvik Mosjøen, a subsidiary of Storvik group will now handle the operation of the robotic repair line and maintenance of the anode yokes processed through it. Storvik Engineering built the system, with both companies working together on its installation and commissioning. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook " Anode rod assemblies are essential to primary aluminium...
Rio Tinto has secured a five-year operating arrangement for its Bell Bay aluminium smelter in northern Tasmania, backed by a government support package worth USD 200 million. The agreement includes a commitment to maintain a minimum level of employment at the 71-year-old facility until at least 2031, easing concerns over its future amid uncertainty about electricity costs. Rio Tinto's aluminium chief executive Jérôme Pécresse confirmed the employment commitment but did not disclose the number of jobs covered. The guarantee is understood to cover around 500 positions. Bell Bay currently employs about 550 people and supports a further 1,200 jobs, with its future previously uncertain as the company sought a new power agreement. Explore the production, demand and consumption forecasts of...
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... Russia's largest nickel miner Norilsk Nickel is ready to discuss paying more than the $12 billion it has already offeredfor its 25% stake, held by the world's top aluminum producer RusAl, Norilsk Nickel said on Monday. "We are aware that the deal is supported by two RusAl shareholders - M.D. Prokhorov and V.F. Vekselberg. In its turn, Norilsk Nickel management is ready to discuss a possibility of a higher offer price," Norilsk said in a statement.
... the top five companies in the Aluminum industry as measured by beta. Higher-beta stocks mean greater volatility and are therefore generally considered to be riskier but also may provide the potential for higher returns. Century Aluminum (NASDAQ:CENX) ranks first with a beta of 3.09; Alumina (NYSE:AWC) ranks second with a beta of 1.70; and Alcoa (NYSE:AA) ranks third with a beta of 1.64. Aluminum of China (NYSE:ACH) follows with a beta of 1.59 and Kaiser Aluminum (NASDAQ:KALU) rounds out the top five with a beta of 1.46. ...
... Japan’s shipments of rolled-aluminum products increased at the fastest pace in three months in November, led by demand from China and other Asian countries, the Japan Aluminium Association said today. Supplies to domestic and export markets climbed 11 percent to 183,613 metric tons in November from 164,859 tons a year earlier, according to the group. The pace of growth accelerated from October’s 5.8 percent to the highest level since August. ...
... Russian miner Norilsk Nickel (GMKN.MM: Quote) said UC RUSAL (0486.HK: Quote) shareholders Mikhail Prokhorov and Viktor Vekselberg back its offer to buy the aluminium giant's Norilsk stake, lending weight to the $12 billion bid. The world's largest nickel and palladium miner, which has given RUSAL a deadline of 1200 GMT on Tuesday, also indicated it could raise its offer for the 25 percent stake, though it did not provide a new figure. ...
... Indian companies produced 1.06 million metric tons of aluminum in the April-November period, up from 984,238 tons a year earlier, data from the Ministry of Mines showed Monday. ...
... Reduced power supply in China's Henan province due to a coal shortage may lead to delays in bringing idled aluminum capacity back online ... "Less power would mean less production as it requires a large amount of electricity to turn alumina to (galvanized) aluminum, so if the supply shortage of thermal coal isn't solved, it will very likely take longer for smelters to bring idled capacity back online," Galaxy Securities Futures aluminum analyst Sun Lei said. ...
... Aluminum Corp of China (NYSE: ACH) closed Thursday's trading session at $22.78. In the past year, the stock has hit a 52-week low of $18.03 and 52-week high of $34.27. Aluminum Corporation of China stock has been showing support around $22.63 and resistance in the $23.01 range. ...
... Domestic aluminum market kept stably. Aluminum ingot of Chinalco remained at 16300-16500 Yuan per ton. Shanghai aluminum ingot traded at 16020-16170 Yuan per ton. Wuxi aluminum ingot traded at 16010-16190 Yuan per ton. Nanhai aluminum ingot traded at 16190-1632 Yuan per ton. ...
... Rio Tinto is to invest in its Canadian aluminium smelters to improve production efficiency through modernisation and expansion. The bulk of this new investment - US$758 million - will be spent on completing the first phase of the AP60 plant in Saguenay-Lac-Saint-Jean, Quebec. Rio Tinto will also invest an additional US$300 million for further construction in preparation for the US$2.5 billion modernisation of the Kitimat smelter in British Columbia. ...
... Reliance Steel & Aluminum Co (NYSE: RS) closed Thursday's trading session at $51.21. In the past year, the stock has hit a 52-week low of $34.58 and 52-week high of $55.47. Reliance Steel and Aluminum stock has been showing support around $50.46 and resistance in the $52.22 range. ...
... as prices of metals like aluminium, copper, nickel, among others, will see an upward trend on the back of higher demand from emerging economies like India and China, rising ... Companies like National Aluminium Company Ltd, Vedanta, Hindalco, Hindustan Copper, among others, will see higher operating margin due to the spurt in metal prices. ...
... Aluminum Corp of China Ltd , the nation's largest aluminum producer and the world's third-largest alumina producer, on Saturday signed an agreement with the government of Guizhou Province to invest up to RMB 17.5 billion in the province, foreign media reported. ... Chalco will build an alumina smelter with a capacity of 1 million metric tons and a bauxite plant in the province. ...
... LME market was closed on Monday for the Christmas holiday. The Federal Reserve planned to resume its plan of USD 600 billion government bond purchases, helping push up the yen and euro, and the US dollar index dipped in response. The US dollar index opened at 80.146, and dipped to a low of 80.135, and finally closed at 80.148, down 0.41%.....
... Reduced power supply in China's Henan province due to a coal shortage may lead to delays in bringing idled aluminum capacity ... Benchmark Shanghai Futures Exchange aluminum has gained 2.2% since the start of this month and closed at CNY16,760 a metric ton Thursday. ...
... Japanese shipments of aluminium products rose 11.4 percent in November from a year earlier to 183,613 tonnes, industry data showed on Monday. That was up 4.9 percent from October, data provided by the Japan Aluminium Association showed.
... electrolytic aluminum spot stock continuously created record high. Over surplus of capacity and rebound in the dollar index put great pressure on aluminum price. ... China 2010 electrolytic aluminum capacity rose 7.6% YoY compared with 2009, 6.7% slightly higher than 2009, but obviously lower than the level before the economic crisis. Why capacity increased slowly in 2010? ...
... LME aluminum has broke through 60 day moving average. For a short period it is possible to close and make a directional choice. In term of long term, LME aluminum keeps rising triangle trend, and price will breakthrough. On global clues, Shanghai aluminum also begins to rise appropriately. Power shortage leads to cut in smelter capacity, strong downstream consumption and quite low speculators expectation all drive aluminum price, ...
... According to Macquarie Group Ltd, aluminum smelters in China may face a “critical shortage” of power that prevents them from ramping up output in the first quarter of 2011, helping to buoy prices as stockpiles decline further. ... The report said that the power curbs led to a drawdown in aluminum inventories at so-called reported warehouses in China from 1.3 million tons in May to less than 600,000 tonnes, ...
