NEW YORK, March 7- Copper tumbled 4 percent to a seven-month low on Friday while silver and aluminum lost more than 1 percent each after the first bond default by top metals buyer China sparked global growth concerns.» Read More
Alcoa reported quarterly revenue that beat analysts' expectations on Thursday, but earnings came up short.
Jan 9- Aluminum producer Alcoa Inc reported a big quarterly loss on Thursday as it took a $1.7 billion non-cash impairment charge on past smelter acquisitions. After-tax operating income rose in Alcoa's engineered products segment, which makes cast metal goods like aluminum wheels, to $726 million from $612 million.
Alcoa CEO Klaus Kleinfeld discusses Q4 earnings data just after his company reached a settlement over its bribery scandal. He discusses his continued investments in the automotive and aerospace industries.
Jan 9- Alcoa Inc and a joint venture it controls have agreed to pay $384 million to resolve charges of bribing officials of a Bahraini state-controlled aluminum smelter, marking one of the largest U.S. anti-corruption settlements of its kind.
Klaus Kleinfeld discusses the company's earnings and revenue, as well as the charges for settling its Mideast bribery scandal. "We're putting it behind us," he says.
Alcoa is paying $384 million to settle a bribery scandal in the Middle East. Jeff Kilburg, KKM Financial founder & CEO, and John Spallanzani GFI Group director, debate the play on Alcoa. Kilburg says there is too much inventory in the aluminum space for the stock to gain.
Jan 9- Alcoa Inc and a joint venture it controls will pay $384 million to settle civil and criminal charges that the aluminum producer's subsidiaries bribed officials in Bahrain, U.S. authorities said on Thursday.
*Average rents for aluminium to rise by 1.3 pct. *LME urged warehouse firms to be prudent in rent rises. LONDON, Dec 30- The London Metal Exchange will push ahead with proposed reforms to its warehousing policy, it said on Monday, and warehouses announced lower average rent increases than last year in response to the LME's calls for restraint.
*Copper edges higher after four-session rally. Three-month aluminium was the biggest mover on the London Metal Exchange, climbing 1.4 percent to $1,835.25 per tonne by 1047 GMT, the strongest since Nov. 5.
LONDON/ MOSCOW, Dec 24- The world's biggest aluminium producer Rusal has begun legal action aimed at having the London Metal Exchange overturn planned reforms to its warehousing policy, worried about further falls in the price of its metal. Rusal said it filed a UK judicial review on Monday, demanding the scrapping of the LME's changes.
SINGAPORE, Dec 24- The London Metal Exchange said on Tuesday it will go ahead with planned changes to its warehousing policy aimed at addressing massive queues for metal despite top aluminium producer Rusal challenging the proposal.
SHANGHAI, Dec 23- China will impose tiered power pricing on all aluminium smelters starting from January to help eliminate inefficient plants and tackle severe overcapacity in the sector, the National Development and Reform Commission said on Monday.
TOKYO, Dec 19- Japan's aluminium premiums for January-March shipments were mostly set at $255 per tonne, up at least 3 percent from the prior quarter and matching a 2012 record high, on strong demand and high overseas rates, four sources close to the deals said. Another source at a producer agreed, saying most deals were booked at $255 while some were done at $256.
NEW YORK, Dec 17- Glencore's former No. 2 aluminum trader Matt Lucke has opened a physical metals trading firm, becoming the first high-profile alumni of the commodity trading giant's powerful metals business to return to the market since its takeover of Xstrata in May.
Dec 16- Alcoa Inc has signed a long-term deal worth about $110 million to supply titanium and aluminum parts to planemaker Airbus from its recently overhauled facility in Cleveland.
ASUNCION, Dec 10- Giant global mining company Rio Tinto said on Tuesday it postponed studies related to a proposed $4 billion aluminum plant in Paraguay due to bad market conditions, putting what would be the country's biggest-ever foreign investment in jeopardy.
*Rio to wind down Gove alumina production from early next year. SYDNEY, Nov 29- Miner Rio Tinto said on Friday it will stop alumina production at its Gove refinery in Australia, as the plant is no longer viable amid difficult market conditions.
HONG KONG, Nov 28- Some aluminium smelters in China, the world's top producer and consumer of the metal, could in 2014 turn to spot shipments or short-term contracts for raw material alumina as the ratios used to calculate annual term contracts climb, trading sources said.
*Rio Tinto weighing fate of Gove alumina refinery in Australia. *Shfe aluminium sinks to two-month low of 14,070 yuan a tonne. "Aluminium, of all the base metals, is facing some of the bigger headwinds given all the supplies tied up in warehouses, and the new proposed changes in LME rules," said James Glenn, economist at National Australia Bank in Melbourne.
SINGAPORE, Nov 26- London aluminium hung close to its lowest in four months on Tuesday as historical overhang of inventory built up in the aftermath of the 2008 credit crisis continues to blunt prices. Copper prices on Monday hit the highest since November 11 at $7,140 a tonne.