Aluminum Producers


  • *Involves syndicated facilities amounting to $3.7 billion. MOSCOW/ HONG KONG, March 28- Rusal, the world's largest aluminium producer, could default on some of its multi-billion dollar debt if it fails to reach a new deal with creditors by Monday, it said after reporting its biggest annual loss since 2008..

  • March 28- Alcoa Inc said it would cut 147,000 metric tons of capacity at two aluminum smelters in Brazil as increased costs have made the plants uncompetitive. Alcoa had placed 460,000 metric tons of smelting capacity under review last May. Alcoa said it expected the capacity cuts at Sao Luis and Pocos de Caldas smelters to be complete by the end of May.

  • LONDON, March 27- Copper prices bounced on Thursday on improved demand in Europe and top consumer China, but a stronger dollar and continued worries about credit in China capped gains.

  • *LME taking legal advice on options, possible appeal. LONDON, March 27- Russian aluminium producer Rusal dealt a stunning setback to London Metal Exchange plans to cut logjams in warehouses, winning a court decision to halt the reform because consultations had been "unfair and unlawful".

  • LONDON, March 27- The London Metal Exchange will not implement reforms to cut logjams in its global warehousing network as scheduled next month after it lost crucial elements of a legal case brought by Russian aluminium giant Rusal.

  • LME halts warehouse reform after losing court case Thursday, 27 Mar 2014 | 7:15 AM ET

    LONDON, March 27- The London Metal Exchange will not implement reforms of its warehousing network as scheduled next month after it lost elements of a legal case brought by Russian aluminium giant Rusal. "The LME is disappointed with the outcome of the judicial review," the exchange said in a statement.

  • LONDON, March 19- CME Group will launch a physically delivered North American aluminium contract this May. It represents the most credible challenge to the London Metal Exchange's pricing franchise in the global aluminium market since... well, since the CME's previous aluminium contract. It's easy to forget now, but CME has been here before.

  • SYDNEY, March 19- Shanghai aluminium futures fell on Wednesday to their lowest since inception, dogged by oversupply and tightening credit that has eroded demand. London copper also fell due to weak demand and worries about credit conditions in top user China.

  • *MillerCoors sees contract as "a potentially useful tool". LONDON, March 18- CME Group Inc will launch a North American physically deliverable aluminium futures contract in May that could compete with the London Metal Exchange's $54 billion market.

  • *Some 30 pct of capacity may be forced to leave mkt in 3 yrs- China Hongqiao CEO. HONG KONG, March 17- Major aluminium producer China Hongqiao Group Limited expects its production to rise by about 20 percent this year even as overcapacity could force some smaller producers into bankruptcy.

  • March 9- A U.S. judge overseeing litigation accusing Goldman Sachs Group Inc, JPMorgan Chase& Co, their warehousing businesses and the London Metal Exchange of conspiring to reduce the supply and increase the price of aluminum will allow for now three groups of plaintiffs to pursue separate lawsuits.

  • 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.

  • LONDON, Feb 27- The London Metal Exchange voiced "serious concerns" over its ability to maintain an orderly base-metal market if forced to repeat a consultation to reform its global warehouse network, as Russian aluminium giant Rusal seeks a judicial review.

  • LONDON, Feb 26- The tremors caused by the explosion in U.S. physical aluminium premiums have reached the other side of the world. The opening producer salvoes in the quarterly negotiations are coming in at $370- 375 per tonne over LME cash. That compares with $255- 256 for the January- March 2014 period.

  • Alcoa revenue beats, but earnings come up short Thursday, 9 Jan 2014 | 5:11 PM ET
    A worker walks among rolls of semi-finished aluminum at an Alcoa aluminum factory.

    Alcoa reported quarterly revenue that beat analysts' expectations on Thursday, but earnings came up short.

  • Alcoa CEO: 36% improvement on profitability     Thursday, 9 Jan 2014 | 4:11 PM ET

    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.

  • Alcoa CEO: Focusing on what matters     Thursday, 9 Jan 2014 | 4:09 PM ET

    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 about to get crushed: Kilburg     Thursday, 9 Jan 2014 | 3:20 PM ET

    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.

  • Rusal: No slowdown for aluminium in China     Sunday, 6 Oct 2013 | 6:22 PM ET

    Live at the 2013 APEC summit, Oleg Deripaska, CEO at the world's largest aluminum firm UC Rusal told CNBC's Martin Soong that he expects aluminum's downstream growth rate to continue at 9%.

  • The big bank is getting hit with a class-action lawsuit over its aluminum storage methods, reports CNBC's Kate Kelly.