The following article appeared in the China Daily recently. (Xinhua) Aluminum Corp of China Ltd (Chalco), the country’s largest producer of the metal, said Friday its 2008 unaudited net profit may fall more than 50 percent from a year earlier. The profit slump reflected large increases in raw materials costs in […]
This news item has flashed around the aluminium world this morning. Here’s the official announcement from the Rio Tinto web site. 02 February 2009 Rio Tinto response to press speculation Rio Tinto notes the recent press speculation regarding discussions with Chinalco, an existing shareholder. As previously announced, the Boards of Rio Tinto are continuing to […]
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China’s National Bureau of Statistics this morning released the figures for Q4 and the full 2008 year. The world’s press will surely report this in full, but here is the view from within China, as given by the China Daily. China’s economy is sending out mixed signals, a raft of figures showed on Thursday, with […]
Recently I posted an article relating to the announcement about Alcoa signing a letter of intent with Weifang Lianxing Carbon. In that post, I mentioned that Alcoa would take control of the sales or Lianxing’s coke, including coke from future expansions. Alcoa has contacted me and advised that the correct wording is that “Alcoa will […]
Alumina The quoted price of imported product didn`t change last week. Domestic alumina prices rose RMB50/Tonne to RMB1850-1900/Tonne(Non Chalco); the Chalco price remained stable, 2000RMB/Tonne. Due to smelter cutbacks continuing, over-supply in the international market is driving the price down. Australian FOB spot price went below US$200/Tonne, Chinese domestic alumina dealing price were around RMB1800/Tonne. […]