Metals and Mining Aluminum Producers

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  • NEW YORK, Feb 5- A U.S. aluminum fabricator said its New Jersey warehouse had not been raided by police, dispelling rumors that swept the market this week as U.S. regulators mull whether to probe allegations of dumping by a Chinese company it has been linked to. "We have received inquiries from our customers and others, about rumored police activity," Delair, New Jersey-...

  • NEW DELHI/ MANILA, Feb 3- State-run Indian company KIOCL is considering building an iron ore pellet complex in Iran at a cost of about $59 million and is in talks to sell more than 2 million tonnes of the steelmaking raw material to the Gulf country now free from trade sanctions. Companies such as KIOCL and aluminium maker NALCO, which is considering setting up a $2...

  • Alcoa named three new board members in a deal with a major stakeholder as the company prepares to split in two. In exchange, activist investor Elliott Management, which owns about 7.5 percent of Alcoa's stock, will support the aluminum maker's choice of directors who are up for election this year during May's annual shareholder's meeting.

  • Alcoa to appoint three new members to board Monday, 1 Feb 2016 | 9:15 AM ET

    Feb 1- U.S. aluminum producer Alcoa Inc said it would appoint three new directors to its board, expanding its size to 15 members.

  • UPDATE 1-Alcoa wins Boeing supply agreement Thursday, 28 Jan 2016 | 9:07 AM ET

    Jan 28- U.S. aluminum producer Alcoa Inc said on Thursday it will supply aerospace parts to Boeing Co under a new long-term agreement, the latest in a series of contract wins. Shares of Alcoa were up 1.6 percent in premarket trading on Thursday. Alcoa has secured about $10 billion in aerospace contracts since the start of 2015, including the Boeing contracts.

  • Alcoa wins supply agreement with Boeing Thursday, 28 Jan 2016 | 8:45 AM ET

    Jan 28- U.S. aluminum producer Alcoa Inc said on Thursday it will supply multi-material aerospace parts to Boeing Co under a new long-term agreement.

  • Jan 22- Alcoa Inc, responding to a Moody's warning of a possible cut to its credit rating, said it was focusing on its plane and car parts business as well as its aluminum smelting and refining operations to help them succeed as independent companies. Moody's placed Alcoa and many other miners including Newmont Mining Corp, Rio Tinto Plc, AngloGold Ashanti Ltd and...

  • LONDON, Jan 21- The only way to make money out of producing aluminum, it seems, is not to produce any. Every component of the upstream company was profitable last year with the single exception of smelting, which was hit by the continued slide in the London Metal Exchange aluminum price to a six-year low of $1,432.50 in November. By the time it's finished Aluminum...

  • LONDON, Jan 21- The only way to make money out of producing aluminium, it seems, is not to produce any. Every component of the upstream company was profitable last year with the single exception of smelting, which was hit by the continued slide in the London Metal Exchange aluminium price to a six-year low of $1,432.50 in November. By the time it's finished Aluminum...

  • *Beijing to allocate $4.6 bln for small coal mine closures. HONG KONG/ BEIJING, Jan 21- China's plans to set up funds to manage coal and steel capacity closures and stockpiling schemes offer nervous markets some clarity on the likely future make-up of the country's sprawling and predominantly state-run metals and mining industries. China's slowdown has hit...

  • Jan 19- Alcoa Inc said it will delay the curtailment of its Intalco Works smelter in Ferndale, Washington until the end of the second quarter of 2016.. Alcoa has been curtailing smelting capacity as the industry endures tumbling prices amid rising trade tensions with China. Many aluminum producers have cut loss-making capacity or shut down completely over the...

  • *To send official team to Iran in next 2 months-chairman. NEW DELHI, Jan 18- India's national aluminium company NALCO will soon send an official team to Iran to explore setting up a smelter complex worth about $2 billion, its boss said, as world powers lift sanctions on Iran that had made negotiations difficult. NALCO Chairman Tapan Kumar Chand told Reuters on...

  • *Capacity closures centred at high-cost Shandong, Henan provinces. MELBOURNE, Jan 15- Large Chinese alumina refineries have started slashing output as rock bottom aluminium prices mean most of them are running into losses, state-backed research house Antaike said, in a move that could help curb China's breakneck output of the metal. World prices for aluminium-...

  • MELBOURNE, Jan 13- London copper revived on Wednesday from more than six-year lows as short-holders took profits ahead of key trade data from China, but the recent onslaught of selling was expected to resume given struggling demand-growth in the world's top user of metals. *LME aluminum climbed 0.4 percent, finding support from news China many stockpile metal.

  • Alcoa shares dip as aluminum prices and demand decline Tuesday, 12 Jan 2016 | 5:10 AM ET
    Alcoa shares dip as aluminum prices and demand decline

    Alcoa stock fell after reporting an 18 percent drop in revenue as the metals maker shifts its legacy business to auto and aerospace, reports CNBC's Landon Dowdy.

  • CHICAGO, Jan 11- Metals company Alcoa Inc on Monday reported a quarterly net loss after charges related to shuttering parts of its traditional smelting business. The New York- based company has been curtailing smelting capacity as the industry endures tumbling prices amid rising trade tensions with China. London Metal Exchange aluminum prices, CMAL3, which...

  • NEW YORK, Jan 7- Alcoa Inc's plans to close its 269,000 tonne-per-year Warrick smelter, announced on Thursday, will bring U.S. aluminum output to its lowest level in more than 65 years as the industry endures tumbling prices amid rising trade tensions with China. Warrick is the largest currently-operating smelter in the United States and the biggest shoe to drop...

  • NEW YORK, Jan 7- Alcoa Inc said on Thursday it will permanently close its 269,000 tonne-per-year Warrick Operations smelter in Evansville, Indiana, by the end of first quarter, the latest in a string of U.S. smelter curtailments as producers struggle with tumbling prices. Warrick is the largest operating aluminum smelter in the United States, and its closure will...

  • *Would interrupt exports to top aluminium producer China. KUALA LUMPUR/ MELBOURNE, Jan 4- A potential suspension on bauxite mining in Malaysia, the world's top exporter of the aluminium-making ingredient, could dent stockpiles in China but is unlikely to curb breakneck output in the aluminium sector there, industry and analysts said on Monday.

  • *Copper dips after rising 0.8 pct in last session. SINGAPORE, Dec 30- London copper and aluminum edged lower on Wednesday, giving up some of their gains from the previous session as concerns over slowing demand in top consumer China and weakness in crude oil weighed on prices. "LME aluminum price is under pressure, the slow demand growth in China is a major concern,"...