Alcoa strikes $3.1b cash-and-stock deal for South32’s key aluminium assets
Alcoa Corporation is acquiring South32’s key aluminium assets in a USD 3.1 billion deal in cash plus 17,008,960 Alcoa shares, expanding its upstream aluminium portfolio across Australia, Brazil and South Africa. The transaction will also give South32 and its shareholders an equity interest in the...
Alcoa’s 16kg aluminium wheel could change fleet efficiency equation
A truck’s overall weight comes from dozens of components, including the engine, chassis, tyres, etc. Wheels are one area where fleets can explore lightweighting. Traditional steel wheels, widely used across the transport industry, are known for their robustness. Forged Alcoa aluminium wheels offer...
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Berkeley aluminum plant survives Alcoa's latest round of cuts
Aluminum giant Alcoa announced Monday that it will cut production at three European plants, sparing the 30-year-old Berkeley County plant that's locked in power-cost negotiations with state-owned utility Santee Cooper. The three affected smelting operations are in Italy and Spain. Last week, Alcoa...
Aluminum Prices to Recover as Producers Cut Output, Alba Says
Aluminium Bahrain BSC, the second- largest producer of the metal in the Middle East, forecast that prices will recover this year as some suppliers cut output. “Less-competitive smelters will have to reduce their production capacity or even shut down” in the first half of 2012 because of low...
Alcoa's $191m loss reflects shadow cast over US by euro crisis
Aluminium giant Alcoa kicked off the latest earnings season for America's biggest companies by reporting its first quarterly loss in more than two years. The $191m (£123m) fourth-quarter loss from Alcoa is the first evidence of the shadow that Europe's debt crisis is casting over the profits of...
Better outlook bolsters Alumina shares
ALUMINA has managed to avoid more share price savagery despite Alcoa, its partner in the AWAC global alumina alliance, confirming that the collapse in aluminium prices had resulted in a loss in the December quarter. Shares in the ASX-listed Alumina bounced 7.5¢ higher to $1.17 yesterday in response...
Production cuts of aluminum
Canada produces 2 9 million tons of aluminum per year of which 2.6 million tons are produced in quebec.. Even if production is cut by 20 %, Quebec will need Alumina to produce 2.1 million tons of alumina which equates to + or - circa 4 million tons of alumina. Considering that Alumina can be...
Australian share market rises as investors get optimistic
AUSTRALIAN shares opened higher as a positive start to a month of US earnings buoyed Wall Street overnight and boosted hopes for local equities. Alcoa, the unofficial kick-off to the US reporting season and a key bellwether stock, reported a net loss in the fourth quarter of last year in line with...
Alcoa to cut high-cost European smelter output
Alcoa Inc (AA.N) said on Monday it plans to close its Portovesme, Italy, smelter and slash output at two Spanish smelters as the U.S. aluminum producer takes aim at its high-cost European operations. The measures will throw doubt on the long-term future of the U.S. producer's embattled European...
Alumina Limited : Alcoa 2011 4th Quarter Results
Alumina Limited notes Alcoa Inc's fourth quarter 2011 earnings announcement. Alcoa World Alumina & Chemicals' results for the quarter were impacted by lower aluminium and alumina prices and ongoing cost pressures. Alumina Limited CEO, John Bevan, commented, "The impact of the difficult market...
Australia Shares End Up 1.1%; Resources Lead Recovery
The resources sector led a broad-based recovery in the Australian share market Tuesday after China's Shanghai Composite continued to recover and Wall Street edged higher in spite of falls on European markets. Takeover activity helped the market, although some strategists warned of a challenging...
Bright aluminium mood lifts Alumina
Shares in Australia's Alumina have shot up after its joint venture partner Alcoa gave a positive outlook for aluminium demand. Melbourne-based Alumina's main asset is its 40 per cent stake in Alcoa World Alumina and Chemicals (AWAC), with Alcoa holding the other 60 per cent. Alcoa, the world's...
Alcoa's Kleinfeld sees 2012 aluminum deficit
Alcoa Inc (AA.N) Chairman and Chief Executive Klaus Kleinfeld expects the global aluminum market to turn into a deficit this year, as biggest consumer China closes inefficient capacity even though demand remains robust. At a conservative estimate, the global deficit will be some 600,000 tons, he...
Alcoa advances on positive growth outlook
Alcoa Inc, the largest US aluminium producer, posted a fourth-quarter loss on Monday but gave a positive outlook for metal demand in the aerospace, construction and other industries, lifting its stock price in after-hours trading. It forecast 7 per cent growth in global aluminium demand this year...
Alcoa jobs under threat at Geelong
HUNDREDS of jobs at Alcoa's aluminium operation in Geelong could be at risk after the multinational announced cuts to its worldwide smelting capacity by slowing production or shutting down plants. The State Government contacted Alcoa's local management after its New York headquarters said it would...
Buy Alcoa on the dip before earnings
Aluminum stock Alcoa announced this week that it will be taking a significant one-time charge from moves to cut smelting capacity. In the short term, this might seem like trouble — but buy-and-hold investors might want to buy in on this dip if they have a long-term horizon for their investments....
Adopt a can-do attitude and get recycling
Wherever you are this summer, party the environmentally friendly way by recycling all of your aluminium cans. Alcoa, Planet Ark and eight-time world surfing champion Layne Beachley have joined forces in a campaign aimed at increasing the number of recycled cans. Planet Ark’s Brad Gray said there...
Alcoa to cut production by mid-year, Jamaican impact unclear
Alcoa said Thursday that it would cut production capacity worldwide but there is yet no indication that Jamaica is to be affected. The American company plans to "close down or curtail" 531,000 metric tonnes of smelting capacity, which includes shutting down one plant in Tennessee and idling two of...
ASX regains ground: Senex Energy, Perseus Mining, Alumina march up
United States equity markets may have been down, but for once the ASX did not reflect the losses with the benchmark All Ordinaries extending its early gains to finish the day at 1.1%, or 45.1 points, higher at 4,206.1 points. By contrast the Dow Jones Industrial Average was off 0.45% or 55.78...
Analysis: Aluminum traders to producers: Cut like it's 1994
To find a precedent for the deep, lasting output cuts that aluminum producers must make to put a floor under prices, traders are looking a lot further back than the last recession. Three years ago, with the global economy convulsing in the throes of a serious recession, smelters worldwide started...
