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Metals and Mining Aluminum Producers

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  • JOHANNESBURG, Aug 19- Miner and commodities firm Glencore cut its forecast on Wednesday for earnings from trading, a division meant to help cushion the company against tumbling commodities prices, sending its shares to record lows. Glencore said tough market conditions, especially for aluminium and nickel, were hurting the business even though it had...

  • All part of the ongoing collapse in industrial metal prices as the market collectively downgrades its views on China. Aluminium's prospects look particularly bleak given a backdrop of high legacy stocks and structural over capacity in China, which is pumping out ever more surplus metal into the international market in the form of semi-fabricated products.

  • MELBOURNE, Aug 12- London nickel, copper and aluminum jolted to six-year lows on Wednesday as jitters intensified that China's currency devaluation would corrode demand, with chart based-selling smashing nickel down 15 percent before prices recovered. Beijing shocked global markets on Tuesday, a move billed as market reform but which some experts say could...

  • BHUBANESWAR/ NEW DELHI, Aug 7- India's National Aluminium Co Ltd wants to set up an aluminium smelter and an associated power plant in Iran worth as much as $2.6 billion, its boss said, once sanctions against the country start to be lifted. Tapan Kumar Chand will meet with India's foreign ministry officials and the ambassador of Iran in New Delhi next week to take...

  • MANILA, Aug 7- London copper and aluminium futures traded near their lowest level since 2009 on Friday and were on course to extend weekly losses with copper pressured by a weak demand outlook and aluminium dragged by an oversupplied market. *Three-month aluminium on the London Metal Exchange dipped 0.2 percent to $1,589.50 a tonne by 0120 GMT, after falling as...

  • Rio Tinto CEO rejects fears over China growth, demand Thursday, 6 Aug 2015 | 11:21 AM ET

    LONDON, Aug 6- Demand for commodities is healthy on the ground in top consumer China despite worries about an economic slowdown that has weighed on prices, the head of mining group Rio Tinto said on Thursday. It was unclear, however, when China will cut back excess output in aluminium that has led to heavy exports and a glut on world markets, Chief Executive Sam Walsh...

  • METALS-Supply glut pushes aluminum to six-year low Thursday, 6 Aug 2015 | 6:21 AM ET

    LONDON, Aug 6- Aluminum prices tumbled to six-year lows on Thursday as the market focused on a growing supply glut due to surging exports from top producer China and high stocks. The metal used in transport and packaging was trading at $1,590 a tonne at 1007 GMT from $1,595 at the close on Wednesday. "Aluminum is an oversupplied market, China is releasing its surplus,"...

  • NEW YORK, Aug 5- U.S. aluminum producer Alcoa Inc has stepped up efforts to challenge the U.S. commodities regulator's intervention in the London Metal Exchange's warehousing reform plan, criticizing its handling of the issue for a second time in as many months. In a letter dated July 27, Alcoa general counsel Max Laun called on Timothy Massad, chairman of the U.S....

  • LONDON, Aug 5- Copper's there. So too are aluminium and nickel. Leaving aside Greece, banks are not failing, credit is not evaporating and industrial production is not imploding.

  • *Revises down outlook for global demand ex China. OSLO, July 21- Norsk Hydro, one of the world's largest aluminium producers, beat second-quarter profit forecasts as demand for finished products such as components, strips and foils offset the impact of falling metal prices. The three-month price of aluminium-- used in the aerospace, construction and automotive...

  • European shares edge higher, Norsk Hydro leads Tuesday, 21 Jul 2015 | 3:13 AM ET

    LONDON, July 21- European shares edged higher in early trading on Tuesday, with encouraging earnings updates from several companies helping the market to hover just below a six-week high. Norsk Hydro shares rose 2.8 percent, the top gainer in the pan-European FTSEurofirst 300 index, after the aluminium maker posted second-quarter operating earnings above...

  • LONDON, July 20- If you're wondering why aluminium prices on the London Metal Exchange are hovering around six-year lows, you need look no further than the latest production report from the International Aluminium Institute. To be fair, some producers such as Alcoa have been trimming back higher-cost production but their efforts have been swamped by the...

  • LONDON, July 20- If you're wondering why aluminum prices on the London Metal Exchange are hovering around six-year lows, you need look no further than the latest production report from the International Aluminum Institute. To be fair, some producers such as Alcoa have been trimming back higher-cost production but their efforts have been swamped by the...

  • LONDON, July 20- Hong Kong Exchanges& Clearing Ltd. "These are the only principal terms of the settlement," the London- based LME said. The lawsuits, brought last year by companies in the United States, accused banks and traders of hoarding metal in LME warehouses, driving up the prices of industrial products from soft-drink cans to aeroplanes.

  • LONDON, July 19- Hong Kong Exchanges& Clearing Ltd. The LME, which was bought by HKEx in December 2012, says more than 80 percent of non-ferrous metals futures business is transacted on its platforms, totalling $14.6 trillion in 2013.. With regard to the third lawsuit complaint, the "first level" purchasers, HKEx said that plaintiffs had not yet filed an appeal against...

  • LONDON, July 13- China exported 2.5 million tonnes of unwrought aluminium and aluminium products in the first half of this year. Most of what leaves China is in the form of semi-manufactured products. China has long penalised exports of primary metal with a 15 percent export duty.

  • Don't write off Alcoa just yet: Morningstar Wednesday, 8 Jul 2015 | 11:09 PM ET
    Don't write off Alcoa just yet: Morningstar

    Andrew Lane, metals analyst at Morningstar, says Alcoa is going through a "transitional quarter" and will deliver substantial growth over time.

  • NEW YORK, July 8- Alcoa Inc said Wednesday it expects Chinese exports of semi-finished aluminum to slow as prices drop and Beijing increases oversight, even as the U.S. company blamed the world's top producer and consumer for a ballooning global surplus. Producers, including Alcoa and Rusal, have recently blasted China's swelling exports as a factor behind...

  • BENTONVILLE, Ark., July 8- Metals company Alcoa Inc reported a quarterly profit that missed expectations due to plunging primary aluminum prices on Wednesday, but revenues topped estimates on an ongoing drive to reduce reliance on the company's legacy commodity business. During a conference call with analysts, Alcoa raised its global forecast for the global...

  • NEW YORK, July 8- Alcoa raised its forecast for the global aluminum surplus by more than half as China, the world's top producer and user of the light metal, has not cut output as much as expected, a senior executive said on Wednesday. The U.S. aluminum producer expects supply to outpace global demand by 760,000 tonnes this year, some 400,000 tonnes higher than its...