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.» Read More
Oct 2- Deutsche Bank lowered its rating on Alcoa Inc's stock to "sell," saying lower aluminum prices over the last two quarters does not bode well for the company's primary metals business that accounts for more than 40 percent of its revenue.
*Previously expected to pay at least $3 billion for 2013. MOSCOW, Oct 1- Russia's Norilsk Nickel, the world's biggest nickel and palladium producer, has lowered its dividend target for 2013-14, its co-owner, aluminium giant Rusal said on Tuesday, as oversupply in its key market hurts prices.
*Shanghai trade zone counters sink again ahead of launch. HONG KONG, Sept 27- China shares rebounded modestly early Friday after data showed the pace of profit growth for Chinese industrial firms in August more than doubled from July, tempering Hong Kong weakness, with coal and aluminum counters leading gains.
PODGORICA, Sept 26- There was once a time when a job at Podgorica's sprawling aluminium plant meant a free apartment, a discount on holiday rentals and a large dose of prestige in socialist Yugoslavia. That's 10 percent of the economic output of Montenegro, the tiny Adriatic republic that inherited KAP when Yugoslavia fell apart in war in the 1990 s.
MOSCOW/ LONDON, Sept 25- Russia's United Company Rusal, the world's biggest aluminium producer, has asked the London Metal Exchange to postpone a proposed overhaul of its warehouse rules and has suggested an alternative plan.
*Rusal expects more capacity cuts in Russia smelters. GENEVA, Sept 18- Leading global aluminium producers are feeling the pinch of low metal prices in an oversupplied market and see little choice but to cut capacity, further eroding already thin margins.
Producers Rusal, Alcoa and Rio Tinto were in Geneva on Wednesday for an industry conference that also marks the start of annual supply negotiations with aluminium consumers.
GENEVA, Sept 18- The world's top aluminium producers and consumers are at loggerheads over the thorny issue of what price, or premium, should be paid to secure metal deliveries, and will conclude fewer fixed term supply deals this year, industry sources said.
*China to cut coal use to below 65 pct of energy by 2017. BEIJING, Sept 12- China unveiled comprehensive new measures to tackle air pollution on Thursday, with plans to close old polluting steel mills, cement factories and aluminium smelters, as well as slash coal consumption and boost nuclear power and natural gas use.
*China to urge aluminium producers to invest overseas rather than expand at home. HONG KONG, Sept 6- China plans to urge local aluminium producers to ramp up overseas investment rather than expand at home, signalling its growing desperation to ease a domestic supply glut.
*Iran imported 30,000 T of alumina from China over June, July. HONG KONG/ BHUBANESWAR, India, Aug 27- Iran has hiked purchases of alumina from China and India in the past two months as the country scrambles to shore up supply after the U.S. tightened sanctions on raw and semi-processed materials at the start of July.
*Premiums to fall by $127 in Europe, $82 in US- Nomura. SINGAPORE/ LONDON, Aug 16- Proposed rule changes for industrial metals warehouses and increased scrutiny by regulators are likely to unleash stored aluminium, adding to the global surplus and forcing more smelters to shut.
MOSCOW, Aug 15- Rusal, the world's largest aluminium producer, is expected to report a recurring net loss of $142 million in the second quarter, against a profit of $19 million in the previous three months, a Reuters poll of seven banks and brokerages showed on Thursday. "
Aug 14- Alcoa Inc said on Wednesday it is temporarily cutting production at its aluminum smelters in Brazil, and will permanently shut down part of its operations in Massena, New York.
Aug 14- Alcoa Inc said on Wednesday it is temporarily cutting production at its aluminum smelters in Brazil, and will permanently shut down one line at its Massena East plant in New York.
*H1 group underlying earnings down 18 percent to $4.23 bln. *London shares up 0.6 percent, underperform rivals. MELBOURNE/ LONDON, Aug 8- Mining group Rio Tinto has scrapped efforts to sell its loss-making Pacific Aluminium business, blaming poor market conditions, as weaker iron ore, copper and coal prices dragged its first-half profit down by 18 percent.
*LME, U.S. banks, Glencore-Xstrata named in separate suits. LONDON, Aug 5- Lawsuits alleging aluminium price fixing by big banks will shine an uncomfortable light on the role played by the London Metal Exchange, suggesting that the murky world of metal trading is likely to attract more attention from the authorities.
*H1 group underlying earnings down 18 percent to $4.23 bln. *London shares up 0.6 percent, underperform rivals. MELBOURNE/ LONDON, Aug 8- Mining group Rio Tinto has scrapped efforts to sell its loss-making Pacific Aluminium business, blaming poor market conditions as weaker iron ore, copper and coal prices dragged first-half profit down 18 percent.
H1 group underlying earnings down 18 percent to $4.23 bln. By Sonali Paul and Clara Ferreira-Marques. MELBOURNE/ LONDON, Aug 8- Mining group Rio Tinto Ltd/ Plc has scrapped efforts to sell its loss-making Pacific Aluminium business, blaming poor market conditions as weaker iron ore, copper and coal prices dragged first-half profit down 18 percent.
MELBOURNE, Aug 8- Global miner Rio Tinto said it has abandoned an attempt to hive off its loss-making Pacific Aluminium business, as it reported an 18 percent drop in first-half underlying earnings, hit by weaker iron ore, copper and coal prices.