CHICAGO _ Century Aluminum Co. on Thursday reported a loss of $9.5 million in its second quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research. » Read More
*Iran has one of the world's biggest zinc deposits. *India considering $2 bln aluminium smelter in Iran. "Iran absolutely has world class mining assets, which have hitherto been shrouded from investors, but we're in the depths of one of the darkest, worst downturns in mining for some time," said Neil Passmore, chief executive of Hannam& Partners boutique merchant bank...
LONDON, Feb 11- "The aluminum market continues to, in our view, face the greatest bearish fundamental shock in a generation, and perhaps, in its history." The Wall Street heavyweight is now projecting aluminum will trade at $1,350 per tonne on a 12- month horizon, down from its previous estimate of $1,550. On the London Metal Exchange three-month metal is today trading...
LONDON, Feb 11- "The aluminium market continues to, in our view, face the greatest bearish fundamental shock in a generation, and perhaps, in its history." The Wall Street heavyweight is now projecting aluminium will trade at $1,350 per tonne on a 12- month horizon, down from its previous estimate of $1,550. On the London Metal Exchange three-month metal is today...
Metals prices may have outperformed oil over the past 20 months, but that's unlikely to continue, with metals set to keep dropping, Goldman Sachs said.
Over the past year scores of commodity-related businesses have filed for bankruptcy as prices for metals, energy and coal have plummeted amid a slowdown in markets such as China and Brazil. "This is due to a number of factors, principal among them is the sustained and dramatic decline in the price of primary aluminum," Chief Financial Officer Dale Boyles said in a...
The Franklin, Tennessee- based company said challenging market conditions for the aluminum industry and recent disruptions in its primary business operations led to the decision. Noranda listed both assets and liabilities in the range of $1 billion to $10 billion. The case is in U.S. Bankruptcy Court, for the Eastern District of Missouri, Case No 16-10083..
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...
Feb 1- U.S. aluminum producer Alcoa Inc said it would appoint three new directors to its board, expanding its size to 15 members.
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.
If China's old economy doesn't find its footing, metals demand could take another hit, Goldman Sachs said.
Commodities giant Alcoa will idle three aluminum smelters as it fights oversupply and sinking metal prices.
Standard Chartered will continue to review its new headquarter locations, with Singapore a likely choice, says Hugh Young, global head of equities and MD at Aberdeen Asset Management.
Ford delivered quarterly earnings that missed analysts' expectations on Tuesday, but revenues were better than expected.
Record-low oil prices, international sanctions and an expensive interventionist foreign policy — can things get any worse for the Russian economy? The answer varies according to which Russian captain of industry you speak.
Oleg Deripaska, president of Rusal, says that Glencore's plan to slice its debt pile by over $10 billion is "100 percent" feasible.
Alcoa's earnings were hurt by the slide in aluminum prices due to global oversupply, not the U.S. economy, says Charles Bradford, president at Bradford Research.
Alcoa is splitting into two publicly-traded entities, acknowledging that its legacy aluminum operations and higher-value and automotive businesses were diverging and no longer compatible.
Alexandra Bouriko, CFO of Rusal, says her company will not cut aluminum production or reduce capacity.
Alexandra Bouriko, CFO of Rusal, explains how the Chinese slowdown will affect the aluminum market and predicts the metal's price will stabilize as exports decline.