North America

Kobelco to Build Second Aluminium Plant in Kentucky

Kobelco to Build Second Aluminium Plant in Kentucky

Kentucky Governor Matt Bevin announced Monday that the Japanese aluminium and steel firm Kobe Steel (Kobelco) will be building a second aluminium plant in the commonwealth. Kobelco chose Kentucky in part due to US$2.5 million in tax incentives offered by the Kentucky...

Events

Novelis Turns In Strong Q4 Numbers Thanks to Increased Automotive Offerings

Rolled-aluminium manufacturer Novelis released fourth quarter and FY2016 numbers yesterday. The firm netted US$29 million in Q4, but reported a net loss on the year of US$38 million. When tax-effected special items are taken out of the mix, Novelis’ Q4’s net was US$50 million, which is a 35% increase over 2015’s Q4. Removing the same […]

Metal Power Products Acquired by Financial Firm Millstein & Co.

Indiana’s Metal Powder Products announced last Friday that it had been acquired by Millstein & Co., L.P., a Manhattan financial services firm. Metal Power Products is a manufacturer of aluminium and ferrous powder metal components with facilities in Ridgway and St. Marys, both in Pennsylvania. “We are impressed by Metal Powder Products’ strong track record […]

Global can stock market moving East

Global demand for beverage cans will grow~3-4% in 2016 and a similar growth trend is expected up until the end of this decade. This growth is being driven largely by increased consumption in emerging markets. Together, the US and Canadian markets use approximately 94 billion aluminium cans per year, making North America the largest market […]

Deal to Keep Open Alcoa’s Intalco Smelter into 2018 Finalized

The Intalco aluminium smelter in Ferndale, Washington will stay open for at least another year and nine-and-a-half months thanks to a deal struck between Alcoa and Bonneville Power Administration. The deal, which saves the plant from closing at the end of the current quarter as initially planned, was announced yesterday. According to reports, the amendment […]

Century’s Earnings Down for the First Quarter

Century Aluminium reported first quarter earnings on Thursday, turning in a net loss of US$16.2 million in the challenging opening months of the year. The Chicago-based firm cites the continuing manipulation of the global aluminium market by the People’s Republic of China. Adjusting for a lower of cost or market inventory of US$5.8 million, the […]