Archive for March 2017

Spike in Russian Scrap Aluminium Alloy Prices Send Japanese Buyers to China

Spike in Russian Scrap Aluminium Alloy Prices Send Japanese Buyers to China

According to sources who recently spoke to Platts, secondary aluminium smelters in Japan are migrating from Russian suppliers to those in the People’s Republic of China as prices of AK5M2 alloy from the former have risen on account of a seasonal shortage...

Events

Citing Power Prices, Boyne Aluminium Smelter Cuts Production and Jobs

Facing a squeeze in power prices, Australia’s Boyne Island Aluminium Smelter said Friday that it will be forced to cut capacity and shrink manpower beyond the levels announced in January. According to a statement released to the media, Rio indicated that capacity would be cut by fourteen percent and that “a significant number of jobs […]

Bauxite Levy Alive and Well: Jamaica Mining Minister

Jamaica’s Transport and Mining Minister Mike Henry reaffirmed the existence of the government’s bauxite levy when speaking with a legislative committee last week. Henry explained to the Standing Finance Committee of Jamaica’s House of Representatives that the bauxite levy is still in place. He estimated that the levy of US$1.50 per metric ton plus a […]

Emirates Global Aluminium Pondering IPO

According to sources with knowledge of the situation, United Arab Emirates’ Emirates Global Aluminium is contemplating an initial public offering in the near future. The anonymous sources who spoke to regional media indicated that the firm is seeking advisers to assist in an IPO in the domestic stock exchange. Such a move is designed to […]

Aleris Shows Net Loss in 2016, but Plans on Better Bottom Line in 2017

Cleveland’s rolled aluminium firm Aleris released results for the fourth quarter and full year of 2016 on Friday. The firm turned in a net loss of US$35 million in the fourth quarter, a drop year-on-year from 2015’s fourth-quarter loss of US$13 million. Adjusted EBITDA for the quarter totaled US$43 million, an improvement year-on-year from 2015, […]

Norsk Hydro to Sell Herøya Facilities to Yara

Oslo’s Norsk Hydro ASA announced on Friday that it entered into an agreement with fellow Norwegian firm Yara International ASA for the sale of Herøya Nett AS and the quay facility at Herøya Industrial park. According to Hydro, the sale of Herøya Nett and the thirty employees who work there will close in June. No […]