China Hongqiao Enters Downstream Sector, Purchases Aluminium Alloy Firm for US$1.6 BN
China Hongqiao Group Ltd. is reported to be planning to spend US$1.6 billion on a purchase of two aluminium processing...
China Hongqiao Group Ltd.
Trading Suspended of China Hongqiao Shares After Report Alleges Financial Inconsistencies
The world’s largest aluminium manufacturer China Hongqiao Group called for a suspension of trading of its stock yesterday morning in the wake of allegations by a short seller that the firm is hiding in excess of US$3 billion in costs, and that...
Alumina Ltd. Not a Takeover Target for Macquarie
Sydney’s MACQUARIE Group Limited informed its clients on Wednesday that Alumina Ltd. is not in the crosshairs of its majority...
Fitch Drops Hongqiao’s Outlook to Negative, Reaffirms its BB Rating
Fitch Ratings Inc. announced today that it has downgraded its Outlook on China Hongqiao Group’s Long-Term Foreign- and Local-Currency Issuer...
Events
Chalco’s First-Half Results Up Thanks to Bump in Global Aluminium Prices
State-backed Aluminum Corporation of China Ltd (Chalco) published results for the first half of 2016 on Thursday. The firm posted an increase in profits thanks to a modest recovery in the global aluminium market. The firm posted a net profit of US$8.62 million in the first six months of the year, which is a significant […]
China Hongqiao Chief Claims Uptick in Demand Will Offset China’s Continuing Capacity Increases
Under increasing international pressure to make further cuts to capacity, China Hongqiao’s chief Zhang Bo defended his firm’s output, claiming that increasing demand will keep the potential of a further drop in prices in check. In an interview with Hong Kong’s South China Morning Post, Zhang said that demand, plus the Chinese industry’s “self-discipline” in […]
China Hongqiao Misses Revenue Expectations for First Half of 2016
Results for Chinese aluminium giant China Hongqiao Group Ltd were lower than expected for the first half of 2016. The firm, still the world’s largest producer of aluminium, reported earnings for the period on Friday. At the end of the first half of 2016 the firm’s aggregate designated aluminium production capacity topped out at 5.9 […]
China Hongqiao Buys Beihai Xinhe from CITIC for US$320 MM
The People’s Republic of China’s China Hongqiao Group Ltd., the world’s top aluminium producer by volume, announced that it entered into an agreement last week to purchase the entire equity interests of Binzhou Municipal Beihai Xinhe New Material Co., Ltd. for US$320 million. Beihai Xinhe’s equity interests were held by China International Trust and Investment […]
Indonesian Firm Preparing to Begin First Domestic Smelter-Grade Alumina Production
Cita Mineral Investindo (CITA) is planning to produce Indonesia’s first alumina upon the completion of the company’s refinery in Ketapang, West Kalimantan. The firm says production is expected to commence within the next several days. CITA’s new US$1.15 billion-smelter was constructed by Well Harvest Winning Alumina Refinery (WHW), a joint venture between CITA, China Hongqiao […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
