Metals and Mining Aluminum Producers

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  • NEW YORK, Sept 28- Alcoa Inc's decision to split in two will sharpen pressure on one of the world's top aluminum producers to cut costs or close unprofitable smelting capacity, as worries over China's output mounts and prices hit multiyear lows. The 127- year-old company, whose smelters stretching from Saudi Arabia to Spain and the United States account for 7...

  • CHICAGO, Sept 28- Alcoa Inc said Monday it will break itself in two, separating its faster growing business manufacturing parts for planes and automobiles from its traditional aluminum smelting operations as shareholders seek higher returns amid a commodity slump. Pressured by a 42 percent drop in its share price this year and a surge in Chinese aluminum...

  • CHICAGO, Sept 28- Alcoa Inc said on Monday it will split into two companies to separate its struggling aluminum smelting operations from production of lightweight metals for its faster-growing aerospace and automotive business. The news sparked a rally in Alcoa's shares, which were up nearly 6 percent at $9.60 in premarket trading. The split is expected to be...

  • CHICAGO, Sept 28- Alcoa Inc, which has been hurt by falling prices for aluminum, its core product, said on Monday it would split into two publicly traded entities as its traditional operations and higher-value and automotive businesses were diverging and no longer compatible. A ballooning aluminum surplus has hurt Alcoa's traditional smelting business,...

  • Alcoa to be splitting in two Monday, 28 Sep 2015 | 7:00 AM ET
    Alcoa to be splitting in two

    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.

  • CHICAGO, Sept 28- Metals firm Alcoa Inc said on Monday it would split into two publicly traded entities, acknowledging that its legacy aluminum operations and higher-value and automotive businesses were diverging and no longer compatible. New York- based Alcoa's traditional smelting business has been hurt by a ballooning surplus of aluminum, which has...

  • ALCOA SAYS LEGACY ALUMINUM BUSINESS WILL KEEP COMPANY NAME, WHILE "VALUE-ADDED" AEROSPACE AND AUTOMOTIVE FOCUSED BUSINESS WILL GET A NEW NAME.

  • CHICAGO, Sept 28- Metals firm Alcoa Inc said on Monday it would split into two publicly-traded entities, acknowledging that its legacy aluminum operations and higher-value and automotive businesses were diverging and no longer compatible. New York- based Alcoa's traditional smelting business has been hurt by a ballooning surplus of aluminum, which has...

  • METALS-Copper dips to 4-week low as China worries weigh Thursday, 24 Sep 2015 | 8:35 AM ET

    *China aluminium smelter cutbacks seeing resistance-AZ China. LONDON, Sept 24- Copper prices fell to a four-week low on Thursday on persistent concern about demand growth in top consumer China against a backdrop of ample supply ahead of holidays in Asia. Also, I think traders may need to square their positions ahead of the festival season in China, "said Xiao Fu,...

  • *China stimulus effect not seen until next year- Argonaut. *China aluminium smelter cutbacks seeing resistance-AZ China. The gains were fragile, however, due to persistent concern about demand growth from top consumer China against a backdrop of ample supply ahead of holidays in Asia.

  • Sept 17- Alcoa Inc letter to London Metal Exchange:. *Alcoa publishes letter sent to LME on Aug 14 criticizing proposals to require increased load-out rates and mandate queue-based rent-capping at aluminum warehouses. *Alcoa says new measures "are more likely to create disorder" and suggests current load-in, load-out rule has been effective at reducing...

  • LONDON, Sept 16- The world is producing too much aluminium. But not enough, particularly in China, which is exporting its surplus to the rest of the world in the form of semi-fabricated products. That abundance of supply has been proven by Indonesia's ban on exports of bauxite to China.

  • CHICAGO, Sept 14- Ford Motor Co will begin in the fourth quarter to use multiple components in its high-selling F-150 pickup model made from an advanced Alcoa Inc aluminum alloy that is tough enough to replace steel parts yet significantly lighter, both companies said on Monday. The two corporations also announced a joint development agreement to collaborate...

  • Sept 14- Alcoa Inc said it would stop production at its Suralco alumina refinery in Suriname due to dwindling bauxite ore supply. Alcoa said on Monday it would curtail 887,000 metric tons of remaining refining capacity at Suralco by Nov. 30, when the refinery would be idled. Suriname's government and Alcoa have been in talks since October 2014 to reach a solution...

  • Alcoa to cut remaining capacity at Suriname refinery Monday, 14 Sep 2015 | 8:49 AM ET

    Sept 14- Alcoa Inc said it would cut remaining capacity at its Suralco alumina refinery in Suriname and take a related restructuring charge of $65 million- $75 million. Alcoa said in March it would evaluate 2.8 million metric tons of refining capacity for possible curtailment or divestiture. On a per share basis, the company expects a charge of $0.05- $0.06 per...

  • Sept. 11- Aluminum producers outside China struggling to stay afloat are pinning their hopes on the United States winning a trade dispute lodged at the World Trade Organisation against Chinese export subsidies. A ruling favoring the United States could open the floodgates for other countries, which have seen their aluminum producing industries decimated...

  • Pressure on commodity prices will ease: Rusal CFO Monday, 7 Sep 2015 | 1:40 AM ET
    Pressure on commodity prices will ease: Rusal CFO

    Alexandra Bouriko, CFO of Rusal, says her company will not cut aluminum production or reduce capacity.

  • Aluminium market will be in deficit by 2016: Rusal CFO

    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.

  • U.S. producer Century Aluminum warned last week it would begin shuttering its Hawesville smelter in Kentucky in October "unless the current pricing environment substantially improves." Overshadowed by its announcement on Hawesville was Century's decision in July to dismantle permanently its Ravenswood smelter in West Virginia. The uncomfortable truth...

  • U.S. producer Century Aluminum warned last week it would begin shuttering its Hawesville smelter in Kentucky in October "unless the current pricing environment substantially improves". Overshadowed by its announcement on Hawesville was Century's decision in July to dismantle permanently its Ravenswood smelter in West Virginia. The uncomfortable truth...